News from January 2025

Federal Reserve Bank announces Seattle Branch board appointments

The Federal Reserve Bank of San Francisco has announced changes to its Seattle Branch Board of Directors.

Robert Harrison reappointed as Twelfth District Federal Advisory Council member

The Federal Reserve Bank of San Francisco has announced the reappointment of Robert Harrison as the Twelfth District Federal Advisory Council member.

Federal Reserve Bank announces new leadership for Portland Branch

The Federal Reserve Bank of San Francisco has announced new appointments to its Portland Branch Board of Directors, effective January 1, 2025.

Former Assistant Treasury Secretary: 'we could see tokenization of treasury, securities, money market funds'

Former Assistant Treasury Secretary Timothy Massad has highlighted the potential of tokenizing stocks and bonds as a significant application of blockchain technology.

Treasury releases clean fuels production credit guidance effective in 2025

The U.S. Department of the Treasury, in collaboration with the Internal Revenue Service (IRS), has released new guidance on the Clean Fuels Production Credit under section 45Z.

NCUA offers support as wildfires impact Los Angeles area credit unions

As wildfires continue to affect the Greater Los Angeles area, the National Credit Union Administration (NCUA) is actively monitoring the situation and offering resources to support impacted credit unions.

IRS announces $6 billion tax credit allocations for advanced energy projects

The Internal Revenue Service (IRS) has announced the allocation of $6 billion in tax credits for the second round of the Inflation Reduction Act’s § 48C Qualifying Advanced Energy Project Tax Credit.

Treasury proposes rules for commercial clean vehicle tax credits

The U.S. Department of the Treasury and the Internal Revenue Service have announced a Notice of Proposed Rulemaking (NPRM) regarding the Qualified Commercial Clean Vehicle Credit, part of the Biden-Harris Administration's Inflation Reduction Act.

NCUA places Butler Heritage Federal Credit Union into conservatorship

The National Credit Union Administration (NCUA) has placed Butler Heritage Federal Credit Union, located in Middletown, Ohio, into conservatorship due to unsafe and unsound practices.

Treasury releases policy brief on trends in small business financing

The U.S. Department of the Treasury has issued a policy brief titled "Financing Small Business: Landscape and Recommendations."

US sanctions Venezuelan officials backing Maduro amid ongoing repression claims

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on eight Venezuelan officials.

Federal Reserve's Harker sees continued decline in interest rates amid economic stability

Patrick T. Harker, president and CEO of the Federal Reserve Bank of Philadelphia, addressed economic forecasts at an event hosted by the New Jersey Chapter of the National Association of Corporate Directors.

Philadelphia Fed's survey indicates mixed business outlook for 2025

Business conditions in 2025 are expected to be mixed, according to a survey conducted by the Federal Reserve Bank of Philadelphia.

Treasury releases final rules expanding clean energy investments in low-income communities

The U.S. Department of the Treasury and the IRS have released final rules and guidance for the Section 48E(h) Clean Electricity Low-Income Communities Bonus Credit Amount Program.

US Treasury sanctions leaders and firms linked to Sudan conflict

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on Mohammad Hamdan Daglo Mousa, known as Hemedti, and seven companies linked to Sudan's Rapid Support Forces (RSF).

U.S. Treasury sanctions Hungarian official Antal Rogan for alleged corruption

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced sanctions against Antal Rogan, a senior Hungarian government official, citing his involvement in corruption.

Treasury issues final rules on clean electricity tax credits

The U.S. Department of the Treasury and the IRS have released final rules for Clean Electricity Investment and Production Tax Credits, known as technology-neutral credits, under tax code sections 45Y and 48E.

Yellen discusses economic issues with China's Vice Premier He Lifeng

Secretary of the Treasury Janet L. Yellen engaged in a virtual meeting with Vice Premier He Lifeng of the People’s Republic of China, focusing on managing the bilateral economic relationship between the two nations.

Carlyle invests $250 million into Norwegian brand house Jordanes

Global investment firm Carlyle has announced a strategic capital package of NOK 2,750 million ($250 million) for Jordanes ASA, a leading brand house in Norway.

U.S. Treasury issues expanded sanctions relief for Syrian humanitarian efforts

Today, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced Syria General License (GL) 24, which expands authorizations for activities and transactions in Syria as of December 8, 2024.