President Joseph R. Biden issued an Executive Order restricting certain U.S. investments in "covered national security technologies and products" in the People’s Republic of China, Hong Kong and Macau.
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Treasury Secretary Janet L. Yellen highlighted the federal government’s “swift response” to the failure of Silicon Valley Bank and Signature Bank.
In a joint statement, the U.S. Treasury, the FDIC and the Federal Reserve Board announced that all depositors, both insured and uninsured, of Silicon Valley Bank and Signature Bank, would be made whole for their deposits.
Treasury announced that, after the necessary consultation with the FDIC and the SEC, it is providing a retail broker-dealer with a conditional exemption from certain Dodd-Frank recordkeeping requirements for certain of its qualified financial contracts.
The Treasury Department Office of Financial Research, SEC staff and Federal Reserve Board staff updated the Financial Stability Oversight Council on pandemic and climate-related risks to the financial system.