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☆ US Treasury increases size of most of its debt auctions
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +3 min

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. Treasury yields fell after the announcement on relief the increases were not as large as some had feared. The Treasury said on Wednesday it plans to increase the size of its two-year and five-year note auctions by $3 billion per month, and to increase the size of its 3-year and 7-year note auctions by $2 billion and $1 billion per month, respectively. The government will also increase the size of its two-year floating rate note new issue and reopenings by $2 billion. Some Treasury Inflation-Protected Securities (TIPS) auction sizes will also be increased, with a $1 billion increase in the December 5-year TIPS auction and January 10-year TIPS auction.

Persons: Kevin Lamarque, Steven Ricchiuto, Karen Brettell, Herb Lash, Paul Simao, Andrea Ricci Organizations: Department of, U.S . Treasury, REUTERS, U.S . Treasury Department, Treasury, U.S, Mizuho Securities USA, Securities, Thomson Locations: Washington , U.S, New York, U.S

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Meanwhile, the Treasury Department said it will slow the pace of increases in its longer-dated debt auctions in the November-January quarter. Seven of the 11 major S&P 500 sectors were trading higher, with information technology (.SPLRCT) and communication services (.SPLRCL) leading gains. Overall, analysts expect earnings for S&P 500 companies to grow 5% in the third-quarter, per LSEG data. The S&P index recorded seven new 52-week highs and 24 new lows, while the Nasdaq recorded 18 new highs and 190 new lows.

Persons: Brendan McDermid, Estee Lauder, U.S . Treasury Department's refunding, Jerome Powell's, Robert Pavlik, EL.N, advancers, Amruta Khandekar, Shashwat Chauhan, Sriraj Kalluvila, Dhanya Ann Thoppil, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Federal, Treasury, CVS, Dow, Nasdaq, Federal Reserve, U.S . Treasury, Dakota Wealth, Traders, Treasury Department, Microsoft, Nvidia, Reuters Graphics Reuters, Labor, Dow Jones, Paycom, NYSE, Thomson Locations: New York City, U.S, October's U.S, Fairfield , Connecticut, Bengaluru

We continue to encourage all countries to take tangible measures to halt the flow of arms, aviation fuel, and revenue to the military regime," U.S. Secretary of State Antony Blinken said in a separate statement. Canada imposed sanctions against 39 individuals and 22 entities for supporting Myanmar's military regime. The U.N. human rights expert for Myanmar in September called on the United States to further tighten sanctions on the country's military rulers to include the state oil and gas enterprise. Human rights advocates have repeatedly called for sanctions on MOGE, but Washington had so far held back. Myanmar military officials have played down the impact of sanctions.

Persons: Stringer, Washington, Antony Blinken, Brian Nelson, Simon Lewis, Daphne Psaledakis, Tim Gardner, Sarah Young, Ismail Shakil, Chizu Nomiyama, Rod Nickel Organizations: Army, Bank, REUTERS, Rights, Myanma, Gas Enterprise, U.S . Treasury Department, Reuters, Treasury, Financial, United Nations, Terrorism, Financial Intelligence, Chevron Corp, Chevron, Washington, Myanmar Foreign Trade Bank, Myanma Investment, Commercial Bank, Sky Royal Hero Company, General Staff, Myanmar's Army, Navy, Air Force, Thomson Locations: Yangon, Myanmar, United States, Washington, U.S, United Kingdom, Canada, Britain

☆ Morning Bid: Yield curve control morphs
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +3 min

It will keep buying bonds, but time will tell whether and how tenaciously it will impede yields rising beyond 1%. After touching an almost 10-year low in morning trade, Japanese government bond futures rallied following the announcement. For the meantime the sense that some sort of anchor remains also spread some cheer to Treasury trade, sparking a brief rally. Falls in Hong Kong and Shanghai led MSCI's broadest index of Asia-Pacific shares outside Japan 0.9% lower (.MIAPJ0000PUS). Meanwhile, outside of markets, Hamas said its militants fired anti-tank missiles at Israel's invading forces in Gaza early on Tuesday as the conflict intensified.

Persons: Tom Westbrook, DAOU, Christopher Cushing Organizations: REUTERS, Staff, Bank of Japan, Nikkei, Treasury, Bond, Federal Reserve, U.S . Treasury Department, Samsung Electronics, Brookfield consortium, Treasury Wine Estates, Anheuser, Busch Inbev, Bouygues, BASF, BP, Pfizer, Caterpillar, Thomson Locations: Frankfurt, Germany, U.S, Europe, Asia, Falls, Hong Kong, Shanghai, Pacific, Japan, Australia, Gaza

The projections prompted U.S. Treasury debt yields to fall slightly, with the benchmark 10-year yield last at 4.88%. "Interest in today's borrowing projections have been higher than normal," said Thomas Simons, money market economist at Jeffries in New York. Investors awaited the Treasury's quarterly refunding statement on Wednesday for details on which maturities will be increased as the department pursues record borrowing levels. QUARTERLY RECORDSThe reduced $776 billion borrowing estimate would still be a record for any October-December period, exceeding the $689 billion in the 2021 quarter boosted by high COVID-19 relief outlays. In the third calendar quarter of 2023, the Treasury said it borrowed $1.01 trillion and ended that period with a cash balance of $657 billion.

Persons: Rick Wilking, Thomas Simons, Jeffries, Steven Zeng, Wednesday's, Zeng, Karen Brettell, David Lawder, Daniel Burns, Davide Barbuscia, Andrea Ricci, Richard Chang Organizations: REUTERS, U.S . Treasury, Treasury, Investors, Deutsche Bank, Thomson Locations: Westminster , Colorado, U.S, California, New York

LONDON (AP) —The United States on Friday expanded its effort to cut off funding for Hamas, announcing a second round of sanctions against people and organizations linked to the group since it launched an attack on Israel that killed more than 1,400 people. The new sanctions highlight Iran’s role in providing financial, logistical and operational support to Hamas, the U.S. Treasury Department’s Office of Foreign Assets Control said in a statement. They include a Hamas representative in Iran and members of Iran’s Islamic Revolutionary Guard. The U.S. also sanctioned a number of organizations, including the Iranian Bonyad Shahid, also known as the Martyrs Foundation. They also block financial transactions with those designated and prohibit the contribution of funds, goods and services to them.

Persons: Wally Adeyemo, America’s, “, ” Adeyemo, Khaled Qaddoumi, Ali Morshed Shirazi, Mostafa Mohammad Khani, Shahid Organizations: U.S . Treasury Department’s, Foreign, Control, Islamic Revolutionary Guard, Islamic Revolutionary Guard Corps ’ Qods Force, Martyrs Foundation ., Palestinian, Charity Association Locations: United States, Israel, Iran, London, Britain, States, U.S, Gaza

☆ US 'frankly raised' disagreements with China at first financial working group meeting
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsOct 25 (Reuters) - U.S. officials "frankly raised areas of disagreement" with China at the first meeting of a new financial working group, where financial stability, supervision and regulation were discussed, the U.S. Treasury said on Wednesday. Attendees included senior officials from China's central bank and the U.S. Treasury Department, according to a Treasury statement. "The two-hour virtual meeting included a substantive and wide-ranging discussion on domestic and global financial stability, financial supervision and regulation, sustainable finance, and anti-money laundering and countering the financing of terrorism," the Treasury said. The financial working group and a parallel economic working group were launched last month after U.S. Treasury Secretary Janet Yellen's visit to Beijing in July aimed at fostering regular communications between the world's two largest economies. The economic working group, led by senior officials from the Treasury and China's Finance Ministry held its first meeting on Monday.

Persons: Dado Ruvic, Janet Yellen's, Yellen, Pan Gongsheng, Ismail Shakil, Costas Pitas, David Lawder, Paul Grant, Diane Craft Organizations: REUTERS, U.S . Treasury, U.S . Treasury Department, Treasury, U.S, China's Finance Ministry, People's Bank of China, International Monetary Fund, Bank, Reuters, Thomson Locations: China, China's, Beijing, Marrakech, Morocco, U.S

☆ Where Hamas gets its money and why it's so hard to stop, even as the U.S. steps up efforts
▼ + stars: | 2023-10-25 | by ( Jason Gewirtz | ) www.cnbc.com time to read: +2 min

Nelson had a similar message for officials in Saudi Arabia, with whom he met Tuesday. He wouldn't comment specifically on whom his office might focus on next, but the Treasury Department is hinting more action is on the way. Still, it's a difficult and complicated effort, given the scope and intricacy of the Hamas funding network. Officials at the Treasury Department had been investigating these entities for years but didn't kick into gear until after the brazen attacks earlier this month. "After previous Hamas terror attacks you have big inflows to Hamas from across the globe and we wanted to act urgently to prevent that," Nelson said, pointing to the new urgency from the U.S.

Persons: Brian Nelson, Nelson Organizations: Brigades, Hamas, U.S . Treasury, CNBC, Treasury Department, Foreign Assets Control, West Bank Locations: Gaza City, Gaza, U.S, Israel, Qatar, Saudi Arabia, Sudan, Turkey, Algeria

Cutouts depicting images of oil operations are seen outside a building of Venezuela's state oil company PDVSA in Caracas, Venezuela January 28, 2019. U.S. sanctions that were in place on Venezuela since 2019 largely blocked state-run oil company PDVSA from exporting to its chosen markets. That changed last week, but Washington's six-month relaxation of the measures is too limited to spur new crude production. PDVSA also is in talks with Mercuria Energy and Sahara Energy on spot sales, the sources said. The Italian company and Spain's Repsol (REP.MC) have been in negotiations with PDVSA for months to expand gas output in Venezuela.

Persons: Carlos Garcia Rawlins, Trafigura, PDVSA, Pedro Tellechea, Tipco, Spain's, Eni, Maurel, prepay, Marianna Parraga, Laura Sanicola Organizations: REUTERS, Rights, Global, PDVSA, Bermuda, Mercuria Energy, Sahara Energy, U.S ., Reliance Industries, Valero Energy, PBF Energy, Eni, Valero, Reliance, U.S . Treasury Department, Traders, Thomson Locations: Caracas, Venezuela, U.S, Venezuela's, Sahara, PDVSA's, Houston, Washington

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsWASHINGTON, Oct 23 (Reuters) - Officials from the United States and China on Monday held a two-hour long virtual meeting to discuss domestic and global macroeconomic developments, the U.S. Treasury Department said, calling the meeting "productive and substantive". U.S. and Chinese officials also raised "areas of concern," statements from the two sides said, without elaborating. The meeting was led by senior officials from the U.S. Treasury Department and China's finance ministry. The EWG was launched last month following U.S. Treasury Secretary Janet Yellen's trip to Beijing in July. China's top diplomat will travel to the United States later this week to meet Blinken.

Persons: Dado Ruvic, Joe Biden, Xi Jinping, Janet Yellen's, Antony Blinken, Gina Raimondo, Blinken, Han Zheng, Jake Sullivan, Wang Yi, Kanishka Singh, Liz Lee, Ethan Wang, Christian Schmollinger Organizations: REUTERS, Rights, U.S . Treasury Department, Economic, Treasury Department, Treasury, U.S . National, Thomson Locations: United States, China, Taiwan, San Francisco, People's Republic of China, U.S, Beijing, Yellen, New York, Malta, China's, Washington

FRANKFURT, Germany (AP) — For months after Ukraine's Western allies limited sales of Russian oil to $60 per barrel, the price cap was still largely symbolic. That time has now come, putting the price cap to its most serious test so far and underlining its weaknesses. But most of that, economists say, stems from Europe's ban on Russian oil, which cost Moscow its main customer. They're accused of carrying Russian oil priced at $75 and $80 per barrel while relying on U.S.-connected service providers. “The price cap is working,” says Nataliia Shapoval, vice president for policy research at the Kyiv school.

Persons: —, Benjamin Hilgenstock, Vladimir Putin, ” Hilgenstock, P Global Platts, It's, They're, “, ”, Viktor Katona, haven't, Alexander Novak, Putin, Novak, Europe —, Craig Kennedy, doesn't, Nataliia Shapoval, Shapoval, Josh Boak Organizations: Kyiv School of Economics, International Monetary Fund, U.S . Treasury Department, Stanford University, ”, Russia ”, Research, Energy, Clean, P Global, Russia, U.S . Treasury, United Arab Emirates, Treasury, Radio Business, Harvard’s Davis Center for Russian, Studies, Kyiv, Stanford, Tanker Locations: FRANKFURT, Germany, Ukraine, Israel, Russia, Ukrainian, U.S, Moscow, Helsinki, Saudi Arabia, Europe, Kozmino, Turkey, India, Russian, Asia, Washington, russia, ukraine

☆ US Says It Wants Forfeiture of Billionaire Russian Oligarch's $300 Million Superyacht
▼ + stars: | 2023-10-23 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

By Luc CohenNEW YORK (Reuters) - The United States on Monday sought the forfeiture of a $300 million superyacht it says is controlled by billionaire Russian oligarch Suleiman Kerimov, who is under U.S. sanctions. He amassed much of his wealth through a stake in Russian gold producer Polyus. Kerimov was sanctioned by the U.S. Treasury Department in 2014 and 2018 in response to Russia's activities in Syria and Ukraine. Those sanctions barred Kerimov from accessing the U.S. financial system. A spokesman for Khudainatov said in a statement on Monday that the vessel was "unlawfully seized" by the DOJ.

Persons: Luc Cohen NEW, Russian oligarch Suleiman Kerimov, Vladimir Putin, Kerimov, Polyus, Eduard Khudainatov, Evgeny Kochman, Kochman, Khudainatov, Luc Cohen, Jonathan Oatis Organizations: Luc Cohen NEW YORK, Authorities, Ukraine, Forbes, U.S . Treasury Department, U.S . Department of Justice, Millemarin Investments, Yachts, Prosecutors, DOJ Locations: United States, U.S, Fiji, Washington, Moscow, Manhattan, United, San Diego, Ukraine, Syria, Russian, Millemarin, New York

☆ A price cap on Russian oil aims to starve Putin of cash. But it’s largely been untested. Until now
▼ + stars: | 2023-10-23 | by ( ) www.cnbc.com time to read: +8 min

For months after Ukraine's Western allies limited sales of Russian oil to $60 per barrel, the price cap was still largely symbolic. That time has now come, putting the price cap to its most serious test so far and underlining its weaknesses. But most of that, economists say, stems from Europe's ban on Russian oil, which cost Moscow its main customer. The U.K. Treasury says it is "actively undertaking a number of investigations into suspected breaches of the oil price cap." "And there's a reason why the shippers haven't really complained or haven't flagged any issues with the oil price cap — because it's very easily circumvented."

Persons: —, Hilgenstock, P Global Platts, It's, Benjamin Hilgenstock, Vladimir Putin, They're, Viktor Katona, haven't, Alexander Novak, Putin, Novak, Europe —, Craig Kennedy, doesn't, Nataliia Shapoval, Shapoval Organizations: Salym Petroleum, U.S . Treasury Department, Stanford University, Research, Energy, Clean, P Global, Kyiv School of Economics, International Monetary Fund, Russia, U.S . Treasury, United Arab Emirates, Treasury, Radio Business, Harvard's Davis Center for Russian, Studies, Kyiv, Stanford, Tanker Locations: Salym, Russia, Ukraine, Israel, U.S, Moscow, Helsinki, Saudi Arabia, Ukrainian, Europe, Kozmino, Turkey, India, Russian, Asia

The auction could start a new chapter for the 113-year-old company, which has been owned by Venezuela for almost 40 years. Washington and Venezuela's political opposition wanted Citgo to anchor the country's economic future under a democratically elected government. The sale could become the biggest court auction ever held. Motiva, Valero and Citgo's ultimate parent, Venezuela's state oil company PDVSA, did not reply to requests for comment. "Citgo will be strategic for Venezuela in the next 20-25 years, not only as a refining company, but with an expanded role," director Medina said.

Persons: Biden, Citgo, Nicolas Maduro's, Matthew Blair, Tudor, Blair, Jose Ignacio Hernandez, Leonard Stark, PDVSA, PDV, Juan Guaido, Natalie Shkolnik, Wilk Auslander, Nicolas Maduro, Stark, Evercore, Conoco, Horacio Medina, Carlos Jorda, Medina, Hernandez, Marianna Parraga, Erwin Seba, Gary McWilliams, Anna Driver Organizations: U.S . State Department, Reuters, Marathon Petroleum, Motiva Enterprises, Valero Energy, Koch Industries, Valero, U.S . Treasury, Holt, U.S, Crystallex International, PDVSA, National Assembly, Citgo, PDV, Supreme, Evercore, ConocoPhillips, Exxon Mobil, Exxon, U.S . Treasury Department's, Foreign Assets Control, Thomson Locations: United States, Petroleum, U.S, Houston, Venezuela, Washington, Saudi, Pickering, Citgo, Delaware, Caracas

☆ U.S. Targets Crypto Mixers Over Money Laundering Risks
▼ + stars: | 2023-10-20 | by ( Ian Talley | Mengqi Sun | ) www.wsj.com time to read: 1 min

Deputy U.S. Treasury Secretary Wally Adeyemo, pictured during an event in September, said the department “is aggressively combating illicit use of all aspects of the [convertible virtual currency] ecosystem by terrorist groups “ Photo: Michael Nagle/Bloomberg NewsThe Biden administration designated international cryptocurrency platforms commonly known as “mixers” as primary money-laundering hubs that threaten national security. The U.S. Treasury Department’s unprecedented proposal—using laws usually deployed against foreign banks and foreign jurisdictions—will require special record-keeping and reporting for any financial transactions involving international mixers. The potential targeting of an entire class of transaction represents a significant regulatory step meant to shape the future of the global financial system.

Persons: Wally Adeyemo, Michael Nagle Organizations: U.S, Treasury, Bloomberg, Biden, U.S . Treasury Locations: U.S

☆ U.S. Lifts Broad Sanctions Against Venezuela for Six Months
▼ + stars: | 2023-10-19 | by ( Kejal Vyas | ) www.wsj.com time to read: 1 min

The U.S. lifted sanctions against Venezuela’s oil and gas sectors for six months on Wednesday. Photo: Betty Laura Zapata/Bloomberg NewsThe Biden administration late Wednesday announced the removal of a broad array of sanctions against Venezuela’s oil and gas sector in response to a deal between President Nicolás Maduro ’s authoritarian government and his political opponents that could lead to a presidential election next year. The U.S. Treasury Department suspended for six months measures against Venezuela that had prohibited financial transactions in the country’s energy sector and gold mining industry. The measure also ended a ban on trading Venezuelan government bonds.

Persons: Betty Laura Zapata, Nicolás Maduro Organizations: U.S, Bloomberg, Biden, Wednesday, U.S . Treasury Locations: U.S, Venezuela

REUTERS/Leonardo Fernandez Viloria/File Photo Acquire Licensing RightsNEW YORK/CARACAS, Oct 19 (Reuters) - Venezuela's sovereign bonds rallied on Thursday, a day after the United States lifted its ban on secondary market trading of some of the country's eurobonds, with investors eyeing a debt restructuring on some $60 billion of defaulted debt. "Prices have almost doubled in the past 24 hours but are still well below the pre-sanctioned levels," said Edward Cowen, CEO of Winterbrook Capital, who has co-invested in a fund to buy Venezuelan debt. Cowen added that a return to Venezuela's regular weighting on global indexes like JPMorgan's would give the prices further support. "I think the market was caught by surprise as the ban on secondary trading of bonds was not expected to be removed this early in the negotiation," said Armando Armenta, senior economist for global economic research at AllianceBernstein. Small funds and investors outside the United States had looked to increase their exposure to Venezuelan bonds on the expectation of debt renegotiations.

Persons: Leonardo Fernandez Viloria, PDVSA, Edward Cowen, Cowen, Armando Armenta, Maria Corina Machado, Rodrigo Campos, Mayela, Marc Jones, Corina Rodriguez, Christina Fincher, Will Dunham Organizations: REUTERS, South, Winterbrook, U.S . Treasury Department, Petroleum, Venezuelan, U.S . State Department, Mayela Armas, Thomson Locations: Bolivar, Caracas, Venezuela, CARACAS, United States, South American, U.S, Venezuela's, Venezuelan, New York, London, Madrid

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. If finalized, the rule would require financial firms to report information about transactions that they suspect involve crypto mixers, which are anonymized software tools that allow users to conceal the source or owner of digital assets. * On Wednesday, the Biden administration issued sanctions to disrupt Hamas' funding, which included a Gaza-based crypto exchange. * The U.S. last year imposed sanctions on crypto mixers Tornado Cash and Blender. Reporting by Hannah Lang in Washington; editing by Michelle Price and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Kevin Lamarque, Biden, ”, Wally Adeyemo, Hannah Lang, Michelle Price, Deepa Babington Organizations: Department of, U.S . Treasury, REUTERS, U.S . Treasury Department’s, Hamas, U.S ., Reuters, U.S, Convertible, Thomson Locations: Washington , U.S, Israel, Gaza, Washington

Israeli police said in an Oct. 10 statement that it had frozen several crypto accounts that were used to solicit donations for Hamas. Reuters reported in May that Israel had seized around 190 crypto accounts at crypto exchange Binance since 2021, including dozens it said were owned by Palestinian firms connected to Hamas. Hamas uses a global financing network to funnel support from charities and friendly nations, including by using cryptocurrencies, Reuters reported on Monday. The lawmakers requested that the Biden administration provide estimates on the value of crypto assets that remain in Hamas-controlled wallets, how much of Hamas’ operations are funded through crypto, and any information it has on the actors facilitating the sending of crypto to and from Hamas and other militant groups. Reporting by Hannah Lang in Washington; editing by Michelle Price and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Elizabeth Warren, Julia Nikhinson, Biden, Senators Elizabeth Warren, Roger Marshall, Sean Casten, Israel, Binance, Hannah Lang, Michelle Price, Bill Berkrot Organizations: Intelligence, U.S, Capitol, REUTERS, Hamas, U.S . Treasury Department, White, Senators, Reuters, TRM Labs, Thomson Locations: Washington , U.S, cryptocurrencies, Israel, Hamas, Washington

The Iranian and U.S. flags are seen printed on paper in this illustration taken January 27, 2022. Russia said on Tuesday that transfers of missile technology to Iran no longer needed Security Council approval as of Wednesday, when the U.N sanctions lapse, without saying whether it now planned to support Tehran's missile development. The U.S. effort to limit Iran's missile and drone programs comes amid renewed American criticism of Tehran for backing Hamas, which carried out an Oct. 7 rampage against communities in southern Israel in which at least 1,300 people died. Former U.S. President Donald Trump abandoned that deal in 2018 and restored U.S. on Iran sanctions. U.S. officials have said that the funds now in Qatar can be spent by Iran only on humanitarian goods.

Persons: Dado Ruvic, Donald Trump, Joe Biden's, George W, Bush's, Biden, Simon Lewis, Arshad Mohammed, Will Dunham Organizations: Iranian, REUTERS, Rights, United, Security, European Union, Former U.S, U.S, U.S . Treasury Department, State Department, Security Initiative, Republicans, Hamas, Thomson Locations: U.S, Russia, Iran, Tehran, Israel, Hong Kong, China, Venezuela, United States, Moscow, Ukraine, South Korea, Qatar, Washington, Saint Paul , Minnesota

After many companies were wrongfooted by the speed and breadth of prohibitions on Russia, banks are drawing up contingency plans in case geopolitical tensions between the West and China escalate, seven finance industry sources said. The U.S. Treasury Department, which runs the Office of Financial Sanctions Implementation, Britain's Foreign Office and Barclays did not respond to requests for comment. Three senior London-based bankers, who declined to be named because they were not authorised to speak publicly, said their boards had discussed the possibility of stronger Western sanctions on China in future. Scenarios from major cyber-attacks through to a military intervention in Taiwan could potentially trigger further prohibitions on China, one lawyer who advises banks said. One of the bankers said sanctions on Russia had "removed naivety" among businesses and prompted the industry to think more deeply about China risks.

Persons: Neil Whiley, Whiley, Xi Jinping, Joe Biden, Leigh Hansson, Reed Smith, Banks, Biden, Sinead Cruise, Stefania Spezzati, Lawrence White, Michelle Price, Catherine Evans Organizations: Banking, UK Finance Bank, British, Reuters, UK Finance, HSBC, Barclays, JPMorgan, U.S . Treasury Department, Office, Communications, Standard Chartered, Standard, London underwriters, Thomson Locations: China, Western, Britain, U.S, Russia, West, Taiwan, Beijing, London, Ukraine, United States, British, Asia, Washington

U.S. Secretary of State Antony Blinken speaks during a press conference, in Tel Aviv, Israel October 12, 2023. The question of Iranian access to the funds has been in the spotlight since Iran-backed Palestinian Hamas militants attacked Israel on Saturday, killing more than 1,300 people and taking scores of hostages back to the Palestinian Gaza Strip. "Iran will not be able to access the funds for the foreseeable future," a senior U.S. official, speaking on condition of anonymity, told Reuters. Several U.S. media outlets reported on Thursday that the United States and Qatar had agreed to stop Iran from accessing the money. It did not respond to a request for comment on whether Iran had yet tried to access the funds.

Persons: Antony Blinken, Jacquelyn Martin, Blinken, Ayatollah Ali Khamenei, Iran's U.N, Donald Trump, John Kirby, Kirby, Parisa Hafezi, Andrew Mills, Michelle Nichols, Howard Goller Organizations: REUTERS Acquire, TEL, United, Washington, Reuters, U.S, U.S . Treasury, U.S ., Government, United Nations, Qatar's, Media, White House, Thomson Locations: Tel Aviv, Israel, TEL AVIV, WASHINGTON, United States, Iran, Qatar, Palestinian, U.S, Tehran, South Korea, Seoul after Washington, Islamic Republic of Iran, New York, Qatari

☆ US Treasury pushing development banks for progress on next phase of reforms by April
▼ + stars: | 2023-10-08 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. U.S. Treasury Secretary Janet Yellen has been pushing for reforms to expand the World Bank's lending for a year, after an expert panel review concluded that the institutions, government shareholders and credit rating agencies were too timid about financial risks. The Treasury official said World Bank governors were expected to sign off on the new measures this week and mapped out previously unreported details on the callable capital issue, including the timetable for action. Any new proposal on treatment of callable capital will require approval by the shareholders of each of the respective multilateral development banks, bank officials have said. "You've got to work on global challenges like climate fragility and pandemics and poverty and boosting shared prosperity all at once because they are all mutually reinforcing and intertwined," the Treasury official said.

Persons: Kevin Lamarque, MDBs, Janet Yellen, You've, Andrea Shalal, Mark Porter Organizations: Department of, U.S . Treasury, REUTERS, Treasury, U.S . Treasury Department, World Bank, Bank, Reuters, Rockefeller Foundation, International Monetary Fund, Thomson Locations: Washington , U.S, MARRAKECH, Morocco, U.S, Marrakech

☆ U.S. Treasury details EV tax credit rebate rules
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: +2 min

The U.S. Treasury Department on Friday issued new guidance on how a $7,500 electric vehicle tax credit can be used as a point-of-sale rebate starting in January. Currently, consumers can only take advantage of the $7,500 new EV credit or $4,000 used EV credit when they file their tax returns the following year. Congress approved a sweeping reform of the EV tax credits in August 2022 as part of the $430 billion Inflation Reduction Act (IRA). Beginning in January, dealers can submit vehicle sales to the IRS and receive payment for tax credits within 72 hours. The Environmental Protection Agency has proposed rules it forecasts will result in 67% of new vehicles being EVs by 2032.

Persons: Biden, EVs Organizations: The U.S . Treasury Department, Treasury, Dealers, IRS, Environmental Protection Agency Locations: Moscow , Idaho, The U.S, North America

☆ US dollar's rally supercharged by soaring real yields on Treasuries
▼ + stars: | 2023-10-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

At the same time, climbing real yields make it more expensive to bet against the dollar. With real yields pushing higher, "only the bravest of traders are willing to bet against the greenback," he said. That, combined with a deceleration in inflation, has sent real yields soaring. The dollar has tracked real yields in recent years, with peaks and troughs closely aligned. Still, high real yields make him hesitant to short the U.S. currency.

Persons: Dado Ruvic, Karl Schamotta, Aaron Hurd, Hurd, Corpay's Schamotta, Saqib Iqbal Ahmed, Chuck Mikolajczak, Ira Iosebashvili, David Gregorio Our Organizations: REUTERS, U.S . Treasury Department, Futures Trading Commission, UBS Global Wealth Management, State Street Global Advisors, Thomson Locations: Toronto, U.S, Europe, China

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