US Department of the Treasury
Paulson hints at possible bank recapitalisation
Hank Paulson, the US Treasury secretary, has indicated that America is likely to attempt to recapitalise its ailing banks.
Paulson plan is critical: Canada's Carney
Mark Carney, the governor of the Bank of Canada, has warned that the plan put forward by the US treasury secretary Hank Paulson to buy up to $700 billion in distressed assets is "critically important".
More banks will fail if we don't act: Paulson
Ben Bernanke, the chairman of the Federal Reserve, and Hank Paulson, the US Treasury secretary, have told lawmakers that a failure to rush through proposals for the purchase of up to $700 billion-worth of distressed assets would cripple the US economy.
A mix of the old and new for central banks
While leading central banks around the world on Monday took similar steps to those seen in recent months to inject liquidity into fear-ridden money markets, the American authorities' response to the latest shocks signals a distinct shift in policy.
Bear bust led to dollar-support plans - report
The financial authorities in Frankfurt, Washington and Tokyo considered joint action to stabilise the falling dollar, a leading Japanese business newspaper has reported.
Fed's Warsh: we would take covered bonds
Highly rated, high-quality covered bonds would generally fall within the range of collateral acceptable at the Federal Reserve's discount window, said Kevin Warsh, a governor at the Federal Reserve Board.
We must be able to let a Bear go bust: Paulson
Hank Paulson, the US Treasury Secretary, called on Wednesday for a regulatory system that can withstand the failure of a large and complex financial firm.
Canada to accept US Treasuries for the first time
The Bank of Canada will accept US Treasuries as collateral for the first time ever on Monday.
Treasury shake-up to grant Fed more power
The US Treasury has unveiled a series of recommendations for a major restructuring of financial services regulation, which will allot broad new powers to the Federal Reserve to attack systems risk, including the ability to send SWAT teams into any…
US Treasury warns SWF rules could cause backlash
David McCormick, the US Treasury's undersecretary for foreign affairs, has said that rules forcing sovereign wealth funds to be more transparent could backfire.
China's FX reserves past $1.2T
China's foreign reserves have risen past $1.2 trillion, a state news agency said Thursday 12 April, amid surging trade and plans to create a multibillion-dollar company to invest some of the stockpile.
Treasuries' safe-haven status faces growing threat
According to this article published Wednesday 17 May, long-term threats to the status of Treasury bonds as a safe haven are gathering even as global investors pour money into U.S. government debt.
NY Fed Staff Paper on Treasury securities
The U.S. Treasury announced in August 2005 that it is exploring whether to provide a backstop securities lending facility for U.S. Treasury securities. The New York Fed Staff Paper "Why is the U.S. Treasury contemplating becoming a lender of last resort…
China’s currency conundrum
China’s exchange rate reform does not solve the problems facing international policymakers says David Hale.
Fed says foreign central banks buying more US debt
Foreign central banks continued to be net buyers of U.S. debt in the latest week, the Federal Reserve said on Thursday 27 May, taking their total holdings to another record high.
PBOC to strengthen cooperation with US Treasury
The People's Bank of China will launch a technical cooperation program with the United States Treasury Department which would facilitate communication and cooperation between financial experts of the two countries, according to a bank spokesperson quoted…
Fisher seen as likely next New York Fed Chief
Although the search to fill the important shoes of New York Federal Reserve Bank President William McDonough has only just begun, it seems that the US Treasury's Peter Fisher has emerged as a clear front-runner.
US Treasury secretary O'Neill resigns
President George W. Bush's economic team was in disarray on Friday after Paul O'Neill, US treasury secretary, and Lawrence Lindsey, White House economic adviser, announced their resignations.
US Treasury Secretary Paul O'Neill - Time to go?
ARTICLE - Just what a fragile global economy doesn't need is a loose cannon as a US Treasury Secretary. Yet after a succession of gaffes that have sunk markets and offended presidents, Paul O'Neill remains unrepentant. Now is the time for him to resign…
Paul O'Neill heals rift with Brazil on economy
US - Paul O'Neill and the Brazil government apparently saw eye to eye on Monday, with the US treasury secretary saying US support for Brazil had been consistent and his meetings with Brazilian policymakers "very cordial".
Structural problems must be confronted says Rubin
SINGAPORE - Two of the world's major economies, Japan and the European Union (EU), need vital structural reforms if they are to achieve sustainable growth, former US treasury secretary Robert Rubin said on Thursday.
Speech by John Hawke, US Treasury Dept, 6 June
SPEECH - John D. Hawke, Jr., Comptroller of the Currency of the US Treasury Department and one of America's leading bank regulators, delivered a contraversial speech today titled 'The Road to Basel II: Good Intentions and Imposing Challenges' to the Risk…
Paul O'Neill and pop star argue over aid issue
UGANDA - The Washington Post reports that US Treasury Secretary Paul O'Neill and Irish rock star Bono have apparently fallen out, over the issue of digging wells, during a joint 10-day trip around Africa to investigate the aid issue. O'Neill has…
US warns Japan over 'boxcar' economy
US - The Japanese economy, the world's second largest, risks becoming a "boxcar" on the global racetrack, US Treasury Secretary Paul O'Neill has said.