WASHINGTON—The U.S. Treasury Department said on Friday it disbursed about $2.9 billion in Emergency Rental Assistance funds to 665,000 renters and landlords during November, putting the program on pace for full-year 2021 obligations of $25 billion–$30 billion. The Treasury also said it disbursed $1.1 billion to communities deemed eligible for more funds as part of…
Treasury Department Grants More Flexibility State-Local Aid Funding Rules
WASHINGTON—The Treasury Department said on Thursday it granted more flexibility to state, local and tribal governments in spending $350 billion in COVID-19 aid funds, issuing new final rules on the program launched last year. The Treasury said that the new rules expand the uses on which recipient governments can spend their allotted funds, including child…
NatWest Unit Pleads Guilty, Will Pay $35 Million to Resolve DOJ ‘Spoofing’ Probe
WASHINGTON—A unit of NatWest Group on Tuesday agreed to pay about $35 million and pleaded guilty to wire and securities fraud in relation to a long-running scheme by some of its traders to manipulate U.S. Treasury debt markets. The lender’s investment bank NatWest Markets admitted its traders engaged in schemes to manipulate U.S. Treasury markets…
US Treasury Increases Q4 Borrowing Estimate
The U.S. Treasury said on Monday it plans to borrow $1.015 trillion in the fourth quarter, more than the August estimate of $703 billion, due to having a lower balance at the beginning of the quarter. The fourth-quarter estimate assumes an end-Dec. cash balance of $650 billion. The Treasury has been cutting issuance since February,…
Chinese Acquisition of Semiconductor Firm Poses Security Risks, US Treasury Warns
August 31, 2021
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The U.S. Treasury Department said the sale of Magnachip Semiconductor Corp. to a Chinese private equity firm poses “risks to national security,” as Chinese investments in critical technologies meet with enhanced U.S. scrutiny. Magnachip, a South Korean producer for display and power chips, sold its controlling stake in late March to Chinese private equity firm…
US Treasury Decreases Third-Quarter Borrowing Estimate
The U.S. Treasury said on Monday it plans to borrow $673 billion in the third quarter, less than the May estimate of $821 billion, due to having a higher balance at the beginning of the quarter and lower outlays. The third-quarter estimate assumes an end-Sept. cash balance of $750 billion, the Treasury said in a…
US Blacklists 3 Bulgarians, 64 Companies Over Corruption
WASHINGTON/SOFIA—The United States on Wednesday imposed sanctions on 64 companies and three Bulgarians over corruption, including an oligarch accused of planning to create a conduit for Russian political leaders to influence the Bulgarian government. A statement by the Treasury Department said the move was its single biggest action targeting graft to date. Bulgaria ranks as…
Some States Must Wait As US Treasury Opens $350 Billion in State-Local COVID-19 Aid
May 11, 2021
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AMERICACCP ViruseconomyFeatured TopicsFederal-State RelationsPolicyPoliticsState-Local COVID AidU.S. TreasuryUSUS News
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WASHINGTON—The U.S. Treasury on Monday launched access to $350 billion in COVID-19 aid for state, local, tribal, and territorial governments, but 30 states with faster-recovering employment are likely to see their funds split into two payments a year apart. Some 20 states and the District of Columbia will be able to receive all of their…
Yellen Nomination Sails Through Senate Panel; Final Vote Set for Monday
WASHINGTON—The U.S. Senate Finance Committee on Friday unanimously approved Janet Yellen’s nomination as the first woman Treasury secretary, indicating that she will easily win full Senate approval, but Republicans called for her to work with them in developing economic policies. The full Senate will vote on Yellen’s nomination on Monday, Senate Majority Leader Chuck Schumer…
US Treasury Yields 2020 Drop Makes Way for Slow Grind Back in 2021
December 30, 2020
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BusinessEconomieseconomyFederal Reserveinflationstock marketU.S. economyU.S. TreasuryU.S. treasury yieldsUS
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NEW YORK—The U.S. Treasuries market took investors on a bumpy ride in 2020, with yields plunging to historic lows in the early part of the year before a partial grind back in the second half. Investors are looking for yields to edge up further as the calendar flips to 2021. Expectations that a vaccine against…
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