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.
News & Insights
Financial Stability Oversight Council staff reported progress in advancing recommendations by the Climate-related Financial Risk Advisory Committee on "actions to address capacity building, disclosure, data, and assessment and mitigation of risks."
Treasury Assistant Secretary Graham Steele elaborated on lessons learned and regulatory principles that were "reinforced" following the recent bank failures.
The Financial Stability Oversight Council extended the comment deadline until July 27, 2023 on (i) proposed new interpretative guidance on the process for designating nonbank financial institutions for heightened Federal Reserve Board supervision and (ii) a proposed analytic framework for "identifying, assessing and addressing" financial stability risks.
At a conference on digitization of financial services, Treasury Assistant Secretary for Financial Institutions Graham Steele highlighted the benefits and risks being considered as the government continues to explore a central bank digital currency as an option for upgrading money and payments infrastructure.