article thumbnail

New U.S. Treasury final rule supports state and local spending for an equitable economic recovery

CFO News Room

Department of the Treasury last week released its final rule for the $350 billion in State and Local Fiscal Relief Funds (SLFRF) provided by the American Rescue Plan Act (ARPA). The rule also encourages state and local governments to spend the fiscal relief rapidly and directly, prioritizing economic recovery and equity.

Treasury 130
article thumbnail

The "live" stress test of the entire financial system

Simply Treasury

Did the American not live one of the most successful economic development times and the longest growth period in their history?On From now on, spreads will increase, and economic difficulties will disrupt debt service. People tend to forget former crisis. It is fair to say that a certain euphoria had gained Americans.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Citi Taps Khaliq To Lead Treasury And Trade Solutions

PYMNTS

Citi has named Shahmir Khaliq as its new head of Treasury and Trade Solutions (TTS), according to an internal memo from Paco Ybarra , global head of Citi’s Institutional Clients Group (ICG), which noted that the appointment is effective immediately. He rejoined Citi Pakistan (Banking) in 1995.

article thumbnail

Bitcoin Daily: UK Gov’t Forms Crypto Economic Crime Plan; South Korea Credit Card Firm Gets Blockchain Patent

PYMNTS

government has developed a plan that aims to fight financial crimes, including “action on crypto-assets.”. The Economic Crime Plan from H.M. Treasury and the Home Office wants to change the way economic crime is handled by boosting cooperation between government, law enforcement and the private sector. “To

article thumbnail

Crypto Platform Bitzlato Charged With Laundering More Than $700 Million of Illicit Money

CFO News Room

The Treasury Department designated Bitzlato under a section of the USA Patriot Act, a law used to combat money laundering and terrorist financing, for allegedly laundering illicit funds for ransomware actors based in Russia. Deputy Treasury Secretary. authorities designated cryptocurrency exchange Bitzlato Ltd. Lisa Monaco.

Treasury 100
article thumbnail

Venezuela Considers Russian Payments System As SWIFT Alternative

PYMNTS

sanctions against Venezuela have largely isolated the troubled nation from the global financial system, while also damaging financing. Department of the Treasury recently announced sanctions against a Moscow-based bank because it helped finance Petro. But the U.S. Mnuchin at the time.

article thumbnail

SWIFT Disconnects From Iran’s Banks

PYMNTS

It made the decision, according to a statement, “in the interest of the stability and integrity of the wider global financial system.” brought back financial and other sanctions against Iran, which in turn came after the U.S. SWIFT said the decision was a “regrettable” one. That decision came after the U.S. political influence.

Banking 81