The National Credit Union Administration (NCUA) issued one consent and two prohibition notices in June 2024, permanently prohibiting three individuals from participating in the affairs of any federally insured depository institution.
The United States and India have announced an extension of their agreement regarding the transition from India's existing Equalization Levy to a new multilateral solution agreed upon by the OECD-G20 Inclusive Framework. This announcement follows the historic agreement reached on October 8, 2021, between over 130 countries under the G20/OECD Inclusive Framework, which introduced a two-pillar package of reforms to the international tax framework.
We’re one of 12 regional Federal Reserve Banks working together with the Board of Governors to support a healthy economy. Our job is to serve the American public — to serve you. And our mission is to foster economic stability and strength. We promote the safety and soundness of individual financial institutions and monitor their impact on the financial system as a whole, as well as ensure financial institutions are protecting consumers.
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have released final regulations on reporting requirements for brokers of digital assets, as part of the Biden-Harris Administration’s implementation of the bipartisan Infrastructure Investment and Jobs Act (IIJA). These regulations align digital asset reporting requirements with those long established for traditional financial services.
The Financial Action Task Force (FATF), the global standard-setting body for anti-money laundering and countering the financing of terrorism and proliferation (AML/CFT/CPF), concluded its sixth and final Plenary under the Singaporean Presidency in Singapore today. During this session, several key actions were taken, including adopting Mutual Evaluation Reports (MERs) for India and Kuwait, agreeing to publish a report on non-financial gatekeeper facilitation of corruption, and discussing the priorities of the incoming Mexican FATF Presidency.
The Federal Reserve Bank has highlighted the growing concern surrounding long-term care costs in the United States, particularly as the population ages. With many individuals discovering too late that Medicare and Medicaid do not cover all expenses, financial protection against these risks is becoming a priority.
Earlier today, Secretary of the Treasury Janet L. Yellen met with International Monetary Fund (IMF) Managing Director Kristalina Georgieva to discuss this year’s Article IV consultation with the United States. Secretary Yellen reiterated the importance of frank and thorough assessments of all IMF member economies through the annual surveillance process.
On June 24, 2024, Secretary of the Treasury Janet L. Yellen delivered remarks on extreme heat financing, emphasizing the increasing severity and frequency of extreme weather events globally. She highlighted the importance of mitigating and responding to these events as a key priority for the Treasury Department, in collaboration with multilateral development banks (MDBs).
The National Credit Union Administration (NCUA) commemorated the 90th anniversary of the Federal Credit Union Act of 1934, signed into law by President Franklin Delano Roosevelt, which authorized the formation of federally chartered credit unions in all states.
Leaders from across the Federal Reserve System visited Chelsea, Massachusetts, on Monday to learn about local economic conditions and hear about the lasting impacts of the Federal Reserve Bank of Boston’s Working Cities Challenge. The Fed contingent, including Reserve Bank presidents and first vice presidents – among them Boston Fed President Susan M. Collins and First Vice President Karen Pennell – met with Chelsea residents and community leaders. They also toured the downtown of this majority Hispanic/Latino city of about 38,000, located a few miles from Boston’s financial...
The National Credit Union Administration (NCUA) released its annual Cybersecurity and Credit Union System Resilience Report today. The report provides an overview of the current cybersecurity threat landscape, highlights key cybersecurity initiatives, and details ongoing efforts to enhance cybersecurity preparedness and resilience within the credit union industry.
U.S. Secretary of the Treasury Janet L. Yellen participated in a roundtable lunch at Target headquarters with Target CEO Brian Cornell and other CEOs from the Minnesota area to discuss President Biden’s economic strategy and efforts to lower costs.
WASHINGTON – The United States has expressed its approval of the successful Annual Meetings of the African Development Bank (AfDB) and joins all shareholders in endorsing a general callable capital increase (GCCI) of up to $117 billion. The AfDB is recognized as a key partner for the United States and its African counterparts in fostering prosperous, inclusive, resilient, and integrated development.
Reuters recently interviewed Federal Reserve Bank of Cleveland President Loretta J. Mester, who is approaching her retirement at the end of the month. Mester emphasized the importance of remaining open to active sales of mortgage bonds as part of the central bank's ongoing efforts to reduce its balance sheet.
Global, 24 June 2024 - Apex Group Ltd. (“Apex”) has announced that global investment firm Carlyle’s Global Credit business (“Carlyle”) and Goldman Sachs Private Credit (“Goldman Sachs”) have jointly committed in excess of $1.1 billion into the global financial services provider. This commitment supports Apex’s sustainable growth strategy, following the successful integration of several previous acquisitions, continued strong organic growth, and technological innovations.
In a speech delivered in Minneapolis, U.S. Secretary of the Treasury Janet L. Yellen announced new funding sources for housing production and urged further action by Congress, states, and localities. This initiative is part of the Biden Administration’s broader effort to reduce housing costs.
London, UK – 24 June, 2024 – Global investment firm Carlyle (NASDAQ: CG) announced the launch of a new evergreen private equity strategy, Carlyle AlpInvest Private Markets SICAV ("CAPM SICAV" or the "Fund"). This initiative offers investors worldwide, excluding the US, access to a global portfolio of private markets investments through Carlyle's Global Investment Solutions business, AlpInvest.
