Federal Reserve Chairman Jerome Powell told members of the House Committee on Financial Services today that he expects the Fed to raise interest rates at the next meeting of the Federal Open Market Committee on March 15-16.
As the conflict in Ukraine continued to escalate over the weekend, President Biden and several world leaders agreed to block certain Russian banks from accessing the Swift global messaging system.
In response to the invasion of Ukraine by Russian troops, President Biden today announced an additional round of economic sanctions, including those against two additional large Russian financial institutions, Sberbank and VTB Bank.
The Treasury Department today announced a number of sanctions against two Russian state-owned financial institutions, five Kremlin-connected individuals and additional restrictions on Russian sovereign debt in response to Russia’s decision to deploy troops to the Donetsk and Luhansk regions of eastern Ukraine that Russia has recognized as independent.
As part of its ongoing efforts to counter the growing threat of ransomware, the Treasury Department’s Office of Foreign Assets Control today released an updated advisory on potential sanctions risks for facilitating ransomware payments.
The Treasury Department today announced a number of sanctions against Russian entities and individuals, following an executive order from President Biden.
Ransomware attacks are becoming more numerous, sophisticated and costly, especially during the COVID-19 pandemic.
In a meeting with members of ABA’s executive committee today, Deputy Treasury Secretary Wally Adeyemo said that he is in the process of conducting a full review of the nation’s economic and financial sanctions programs, and “noted the important role financial institutions play in implementing these policies,” according to a readout of the meeting.
The Treasury Department’s Office of Foreign Assets Control today announced sanctions against 18 Iranian banks, including 16 banks for operating in Iran’s financial sector and one bank for being owned or controlled by a sanctioned Iranian bank.