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Speech – The Next Frontier of Payments Innovation
September 29, 2025 / Source: FRB
Thank you for inviting me to speak here today.1 The theme for Sibos this year, “the next frontiers of global finance” is a fitting one. We are indeed witnessing a new frontier of innovation in payments and the broader financial system. New technologies like distributed ledgers, tokenized assets, smart contracts, and artificial intelligence (AI) have the…
Statement of the United States Department of the Treasury, the Swiss Federal Department of Finance and the Swiss National Bank on macroeconomic and foreign exchange matters
September 29, 2025 / Source: Treasury
As trusted partners, the United States Department of the Treasury on the one side and the Swiss Federal Department of Finance and the Swiss National Bank on the other side shared the understanding to continue their close consultations on macroeconomic and foreign exchange matters in their Standing Macroeconomic and Financial Dialogue. The United States and…
Remarks by PDO Assistant Secretary McMaster Before the 2025 Annual Primary Dealer Meeting at the Federal Reserve Bank of New York
September 29, 2025 / Source: Treasury
Good morning and thank you for having me here at the Federal Reserve Bank of New York’s annual primary dealer meeting. I am Hunter McMaster, Director of Policy and Planning at the Treasury Department. I’m also performing the duties of the Assistant Secretary for Financial Markets. In this latter role, I oversee Treasury’s Office of Debt…
FDIC Announces Five Senior Leadership Appointments
September 28, 2025 / Source: FDIC
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today announced the appointment of the following personnel to serve in senior leadership positions: Ryan Billingsley has been appointed Director of the FDIC’s Division of Risk Management Supervision (RMS), overseeing the agency’s safety and soundness examination and supervision of insured commercial banks and savings institutions. Ryan has served…
Thoughts on Monetary Policy Decisionmaking and Challenges Ahead
September 28, 2025 / Source: FRB
Good afternoon. Thank you for the invitation to speak to you. I am delighted to have the opportunity to address this distinguished group of macroeconomic forecasters. Today I will discuss how I approach monetary policy decisionmaking, and I will then describe some of the challenges we will likely face in the years ahead.1 Before turning…
HUD and Census Bureau Report New Residential Sales in August 2025
September 28, 2025 / Source: HUD
WASHINGTON (September 26, 2025) – The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for August 2025: New Home SalesSales of new single-family houses in August 2025 were at a seasonally-adjusted annual rate of 800,000, according to estimates released jointly today by the U.S….
Readout from the Financial Literacy and Education Commission September 2025 Public Meeting on Payment Fraud
September 25, 2025 / Source: Treasury
WASHINGTON — Yesterday, the U.S. Department of the Treasury hosted a convening of the Financial Literacy and Education Commission (FLEC) focused on federal efforts to combat payment fraud and implement Executive Order 14247, Modernizing Payments To and From America’s Bank Account, which mandates the transition to the use of electronic payments for federal disbursements and receipts beginning…
Treasury Targets Arms Trafficking Network and Financial Facilitators for DPRK Weapons Programs
September 25, 2025 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning five individuals and one entity for their role in generating illicit revenue for the Democratic People’s Republic of Korea (DPRK) government’s weapons of mass destruction (WMD) and ballistic missile programs, including by selling weapons to the Burmese military regime….
Speech – Preserving the Dynamism and Credibility of Stress Testing
September 25, 2025 / Source: FRB
Thank you for the opportunity to speak to you.1 Today, I would like to discuss a vital tool for supervising the safety and soundness of the largest banks and preserving the stability of our financial system. I was there, at the Treasury Department in 2009, when stress testing was first used in the United States…
U.S. Federal Housing Completes Withdrawal from International “Greening the Financial System” Network
September 25, 2025 / Source: FHFA
Washington, D.C. — U.S. Federal Housing has formalized its withdrawal from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) in a letter to the Chair of NGFS. In the letter, the Agency states that employees will no longer engage in NGFS committees, taskforces, or working groups, and further requests to be…
OCC Reports Mortgage Performance for Second Quarter of 2025
September 24, 2025 / Source: OCC
WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the second quarter of 2025. The OCC Mortgage Metrics Report, Second Quarter 2025 showed that 97.5 percent of mortgages included in the report were current and performing at the end of the quarter, an increase…
Remarks by Secretary of the Treasury Scott Bessent Before the Financial Literacy and Education Commission
September 24, 2025 / Source: Treasury
September 24, 2025 As prepared for delivery Good morning, everyone. And thank you for joining us today and for your commitment to financial literacy. On the dawn of our great nation’s 250th anniversary, President Trump is unleashing a new economic Golden Age. Our Administration is committed to delivering the benefits to all citizens. We want every…
Treasury Sanctions Indian Nationals and Online Pharmacy for Supplying Counterfeit Fentanyl-Laden Pills
September 24, 2025 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two Indian nationals, Sadiq Abbas Habib Sayyed and Khizar Mohammad Iqbal Shaikh, for their role in collectively supplying hundreds of thousands of counterfeit prescription pills filled with fentanyl and other illicit drugs to victims across the United States. OFAC is also designating one…
U.S. Treasury Department Announces Major Progress in IT Modernization Initiatives
September 23, 2025 / Source: Treasury
The U.S. Department of the Treasury today announced significant progress across its IT modernization agenda within the IRS, underscoring its commitment to improving taxpayer services, enhancing cybersecurity, strengthening compliance, and filing season operations. To enable delivery of these objectives, Treasury has entered into a series of Blanket Purchase Agreements (BPAs) with leading technology providers. All commercial…
Speech – Economic Outlook
September 23, 2025 / Source: FRB
Thank you. It is a pleasure to be back here in Rhode Island. The last time I had the opportunity to speak to the Greater Providence Chamber of Commerce was in the fall of 2019. I noted then that, “if the outlook changes materially, policy will change as well.”1 Little did any of us know!…
Treasury to Host In-Person Meeting of the Financial Literacy and Education Commission
September 22, 2025 / Source: Treasury
WASHINGTON, D.C. – On Wednesday, September 24 at 10:00 AM, Secretary of the Treasury Scott Bessent will chair a public meeting of the Financial Literacy and Education Commission (FLEC). The meeting will focus on payments fraud and feature panel discussions on national trends in payments fraud and federal agency efforts to implement Executive Order 14247, Modernizing Payments To and From America’s…
Delaying the Effective Date of the Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers
September 22, 2025 / Source: FinCEN
A Proposed Rule by the Financial Crimes Enforcement Network on 09/22/2025 AGENCY: Financial Crimes Enforcement Network (FinCEN), Treasury. ACTION: Notice of proposed rulemaking (NPRM). SUMMARY: FinCEN is proposing to amend the Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) Program and Suspicious Activity Report (SAR) Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers (IA AML Rule) to delay…
Semiannual Regulatory Agenda
September 22, 2025 / Source: CFPB
A Notice by the Consumer Financial Protection Bureau on 09/22/2025 AGENCY: Consumer Financial Protection Bureau. ACTION: Semiannual Regulatory Agenda. SUMMARY: The Consumer Financial Protection Bureau (CFPB) is publishing this agenda as part of the Spring 2025 Unified Agenda of Federal Regulatory and Deregulatory Actions. The CFPB reasonably anticipates having the regulatory matters identified below under consideration during the period…
Boosting Collaboration Between UK and U.S. Financial Systems to Drive Innovation and Growth in Global Markets
September 22, 2025 / Source: Treasury
The Chancellor of the Exchequer, Rachel Reeves, welcomed U.S. Treasury Secretary, Scott Bessent, to Downing Street last week for a joint industry roundtable where they reaffirmed the deep and historic connection between the world’s leading financial hubs in the United Kingdom and United States. To ensure the strength of this relationship is maintained into the future, and through…
Treasury Sanctions Support Network of Brazilian Supreme Court Justice
September 22, 2025 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning the Lex Instituto de Estudos Juridicos LTDA (Lex Institute) for its support to Brazilian Supreme Federal Court (STF) justice Alexandre de Moraes (de Moraes). De Moraes was designated by OFAC on July 30, 2025, for using his position to authorize arbitrary pre-trial detentions and…
Treasury Seeks Public Comment on Implementation of the GENIUS Act
September 21, 2025 / Source: Treasury
WASHINGTON – Today, the U.S. Department of the Treasury issued an Advance Notice of Proposed Rulemaking (ANPRM), seeking public comment related to Treasury’s implementation of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. The GENIUS Act tasks Treasury with issuing regulations that encourage innovation in payment stablecoins while also providing an appropriately tailored…
FinCEN Issues Proposed Rule to Postpone Effective Date of Investment Adviser Rule
September 21, 2025 / Source: FinCEN
Immediate Release September 19, 2025 Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a notice of proposed rulemaking to extend the effective date of the final rule establishing Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers (IA AML Rule)…
FDIC Releases Results of Summary of Deposits Annual Survey
September 21, 2025 / Source: FDIC
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today released results of its annual survey of branch office deposits for all FDIC-insured institutions as of June 30, 2025. The FDIC’s Summary of Deposits (SOD) provides deposit totals for each of the more than 76,000 domestic offices operated by more than 4,400 FDIC-insured commercial and savings banks, savings associations,…
Federal Reserve Board publishes agenda for its community bank conference, which will take place on Thursday, October 9
September 21, 2025 / Source: FRB
The Federal Reserve Board on Friday published the agenda for its community bank conference, which will take place on Thursday, October 9. The conference will bring together a range of interested parties to discuss key issues facing the community bank sector. “Community banks are the cornerstone of local economies—driving growth and creating jobs across the…
HUD Hosts Historic Innovative Housing Showcase, Underscores Commitment to Harnessing Innovation to Reduce Housing Costs
September 21, 2025 / Source: HUD
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) hosted its annual Innovative Housing Showcase on the National Mall welcoming more than 5,000 people, including policymakers, industry leaders, media, and members of the public. Themed, “The American Home is the American Dream,” the showcase commemorated America’s 250th birthday in partnership with the America250 Initiative, and spotlighted private…