News list for " the Treasury"
The US Senate Finance Committee has voted to confirm Scott Bessant's nomination as Treasury Secretary, sending him to the full Senate for consideration.
US Treasury Secretary Janet Yellen, we haven't seen much progress on inflation in the past few months.
U.S. Treasury Secretary Janet Yellen has again called for stricter regulation of cryptoassets and stablecoins, noting the need to address vulnerabilities in the financial system. Speaking at the final meeting of the Financial Stability Oversight Council (FSOC) this year, Yellen highlighted the dual impact of digital asset innovation. While it brings market benefits, it also poses significant risks such as cyber security threats and operational challenges. Yellen warned that digital asset innovat...
U.S. Treasury Secretary Janet Yellen said on Friday that the U.S. financial system continues to face commercial real estate risks and vulnerabilities posed by digital assets in 2024, despite cooling inflation and low unemployment boosting the overall economy. She hinted that the Financial Stability Oversight Council (FSOC) member regulator remains focused on monitoring credit risk for commercial real estate and urged officials to keep an eye on Wall Street's ability to respond.
Donald Trump has appointed Scott Bessant as US Treasury secretary. "Scott is widely respected as one of the world's leading international investors and geopolitical and economic strategists," Mr. Trump said in a statement on his Truth Social platform. "Scott's story is the American dream."
Total foreign holdings of Treasuries rose to $8.6729 trillion in September from $8.5034 trillion in August, the highest level on record and the fifth straight monthly rise, according to the latest data from the US Treasury on Monday. China's holdings fell $3 billion to $772 billion in September, while Japan's fell $6 billion to $1.123 trillion in September.
The nomination of the new US Treasury secretary could be announced as early as this week.
Hong Kong Secretary for Financial Services and the Treasury Hui Cheng-yu said during a visit to Zurich, Switzerland, that Hong Kong will consult the industry to increase the types of eligible transactions for which funds and single-family offices can enjoy tax concessions to cover emissions derivatives/emission limits, insurance-linked securities, loans and private credit investments, virtual assets, etc. He also said that green bonds issued by the Hong Kong government have so far successfully i...
Hong Kong's Deputy Secretary for Financial Services and the Treasury, Chen Haolian, said that as an international financial center, Hong Kong has strong Web3 development potential and a sound regulatory system, and key technologies such as global blockchain ecosystem evolution and decentralized oracle network have great potential to promote the transformation of decentralized finance and digital economy. Therefore, it is hoped that Asia, especially Hong Kong, will gain a deeper understanding of ...
According to a report released by the US Treasury on Wednesday, the US Treasury is concerned about the growth of the stablecoin market and believes that privately issued stablecoins should eventually be replaced by state-backed central bank digital currencies (CBDCs). "Similar to the replacement of privately issued'wildcat 'currencies by government-backed central bank currencies in the late 19th century, central bank digital currencies (CBDCs) may need to replace stablecoins as the dominant form...
The US Treasury said Monday that it plans to borrow $546 billion in the fourth quarter of this year, $19 billion lower than expected in July. The cash balance is expected to be $700 billion at the end of December, the Treasury said in a statement. The cash balance is expected to be $850 billion at the end of March 2025 and $823 billion in Quarter 1 2025. The Treasury issued $762 billion in net debt in the third quarter and had a cash balance of $866 billion as of the third quarter.
The Deputy Secretary for Financial Services and the Treasury of Hong Kong, Mr. Albert Chan, said that the second round of public consultation on the regulation of virtual assets over the counter (OTC) will be completed next year, and the proposed licensing system for regulating virtual asset custody service providers will also be proposed for consultation next year to ensure that the safe custody of digital assets meets international standards. Chen Haolian stressed that the licensing system for...
Asked last week whether the dollar's status as the world's reserve currency was stable, the US Treasury badge hanging from the podium fell to the ground and made a loud noise. Yellen responded: "I have confidence in the status of the dollar."
Speaking at the Asia Pacific Fintech Innovation Lab 2024, an accelerator programme run by Cyberport and Accenture, Hui Cheng-yu, Hong Kong's secretary for financial services and the Treasury, said the government was committed to advancing the development of cutting-edge financial services and reshaping the financial landscape of the future. Key areas of focus include central bank digital currencies, mobile payments, virtual banking, virtual insurance and virtual asset trading.
Hong Kong's Secretary for Financial Services and the Treasury, Hui Cheng-yu, said in the blog "Treasury Theory" that in terms of expanding the eligible asset classes, it is recommended to broaden the eligible asset classes, in line with the overall financial development strategy of the Finance and Treasury Bureau, to add carbon emission derivatives/emission allowances, insurance-linked securities, loans and private debt investments, and virtual assets, etc., so that transactions of such assets c...
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