The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has designated one individual and three companies for facilitating weapons procurement and smuggling operations for Ansarallah, also known as the Houthis. The targeted entities are based in Iran and China and have allegedly assisted the Houthis in acquiring materials needed for advanced missiles and unmanned aerial vehicles (UAVs).

The U.S. Department of the Treasury has awarded $9.4 million to Empire State Development in New York to bolster small business growth in the semiconductor and microelectronics sectors. This funding, part of the Biden-Harris Administration’s State Small Business Credit Initiative (SSBCI) Investing in America Small Business Opportunity Program (SBOP), is complemented by $1.5 million in matching funds from Empire State Development.

The Federal Reserve System is set to host the 2024 Minorities in Banking Forum on October 2-3, 2024, at the Federal Reserve Bank of Cleveland, located at 1455 E 6th St, Cleveland, OH 44115. The forum aims to convene mid- to senior-level leaders in the financial services industry with a focus on diversity and inclusion, leadership, and career enhancement.

The Federal Reserve Bank of Philadelphia is set to hold a virtual public engagement forum on October 8, focusing on the selection process for the next Philadelphia Fed president. The forum will provide an opportunity for members of the Search Committee to share details about the search process and discuss the desired qualities in a candidate. Attendees will have the chance to ask questions and offer feedback for consideration by the committee.

The Federal Reserve Bank of Richmond President, Tom Barkin, addressed the current economic situation at the 2024 UNCW Economic Outlook Conference in Wilmington, N.C. During his speech, he discussed recent decisions by the Federal Open Market Committee (FOMC) and their implications for inflation and economic growth.

TJC LP, a middle-market private equity firm focused on North American businesses, has announced the closure of its second continuation fund at $2.1 billion. This fund extends The Resolute Fund III, L.P. and includes an asset jointly owned with The Resolute Fund IV, L.P.

Like many small New England cities, Fitchburg developed around a river and the mills it powered. The city struggled after the mills began closing in the mid- to late 20th century as manufacturing declined nationwide.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has designated Hilltop Youth, an extremist group in the West Bank, under Executive Order 14115. The group is accused of violent actions against Palestinians, including attacks on homes and property, which have destabilized the region.

The U.S. Department of the Treasury and IRS have announced that consumers have saved over $2 billion in upfront costs on the purchase of more than 300,000 clean vehicles since January 1, 2024. This announcement marks a significant milestone in the Biden-Harris Administration's efforts to reduce transportation costs for Americans.

The United States has taken further action against the Russia-based cybercriminal group Evil Corp, identifying and sanctioning additional members and affiliates. The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated seven individuals and two entities associated with Evil Corp in coordination with the United Kingdom’s Foreign, Commonwealth & Development Office (FCDO) and Australia’s Department of Foreign Affairs and Trade (DFAT).

In August, President Tom Barkin, Regional Executive Renee Haltom, and Regional Community Development Manager Jarrod Elwell met with local community and business leaders in Farmville, Virginia. The meeting aimed to understand the economic strengths and opportunities of the region as part of the Bank’s Community Conversations program.

The National Credit Union Administration (NCUA) has issued one consent and one prohibition notice in September 2024. The individuals named are permanently prohibited from participating in the affairs of any federally insured depository institution.

The United States has taken measures to protect U.S. campaign and government officials from Iranian attempts to interfere in U.S. elections. The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated seven individuals as part of a coordinated response to Iran's operations aimed at influencing the 2024 and 2020 presidential elections.

The U.S. Department of the Treasury announced actions to disrupt Russian cybercrime services as part of an international effort. The Financial Crimes Enforcement Network (FinCEN) issued an order identifying PM2BTC, a Russian virtual currency exchanger linked to Sergey Sergeevich Ivanov, as a “primary money laundering concern” connected to illicit finance in Russia. Concurrently, the Office of Foreign Assets Control (OFAC) sanctioned Ivanov and Cryptex, a virtual currency exchange operating in Russia.

The Federal Reserve Bank of New York has introduced the Reference Rate Use Committee (RRUC), a new initiative aimed at supporting the integrity, efficiency, and resiliency in the use of interest rate benchmarks across financial markets. This includes benchmarks produced and administered by the New York Fed.

Richmond Federal Reserve Bank President Tom Barkin is scheduled to speak at the 2024 WilmingtonBiz Conference & Expo on October 2, 2024. The event will take place at the Wilmington Convention Center in Wilmington, North Carolina.

The Federal Reserve Bank of Cleveland has announced the appointment of Damjan Pfajfar as the new head of its Center for Inflation Research. In his role as vice president, Pfajfar will lead a team of economists focused on studying inflation and will spearhead efforts to enhance the center's resources for researchers, policymakers, and the public.

Thank you for the introduction. I’m very glad that I’m able to join you for this tenth annual Treasury Market Conference. This conference helps the government identify ways to further improve the functioning and resilience of the Treasury market, which is of course core to the functioning and resilience of the U.S. financial system as a whole. And this makes it a fitting place for me to share my thoughts on the work I and my colleagues across the Biden-Harris Administration have done to navigate financial stresses and strengthen the U.S. financial system over the past three...

Small businesses are foundational to the growth and prosperity of local communities and a cornerstone of the American economy. They drive innovation, job creation, and economic growth. According to the Federal Reserve's “2024 Report on Employer Firms: Findings from the 2023 Small Business Credit Survey,” small businesses continue to face challenges including increased operating expenses, attracting and retaining qualified talent, and access to credit.

U.S. Treasurer Chief Lynn Malerba visited the Mille Lacs Band of Ojibwe reservation in Minnesota to meet with Tribal leaders and community members. The visit focused on discussing Tribal general welfare, economic recovery efforts supported by the American Rescue Plan Act, and access to capital and banking.