Connect to share and comment

US Treasury: China does not manipulate yuan

The US Treasury said Tuesday that China cannot be ruled a manipulator of its currency despite the yuan's sharp slide since January. But the Treasury, in a twice-yearly report, said the recent fall could "raise particularly serious concerns" if it represents a reverse in Beijing's commitment to a more free-floating yuan. pmh/vs

U.S. to push growth, tax reforms at G20: Treasury's Lew

SYDNEY (Reuters) - Global growth remains well below potential while unemployment is stubbornly high, the head of the U.S. Treasury said on Friday, calling on the Group of 20 to adopt policies that would boost economic growth. Treasury Secretary Jack Lew told a news conference ahead of this weekend's G20 meeting that another priority would be on tax reform, including progress on automatic sharing of tax information between countries. (Reporting by Wayne Cole; Editing by Paul Tait)

U.S. sees emerging market woes as focal point at G20

By Jason Lange WASHINGTON (Reuters) - Economic policymakers from the world's biggest economies will focus on recent financial market turbulence when they meet next week in Sydney, a senior official at the U.S. Treasury said on Friday. Finance ministers and central bankers from the Group of 20, which brings together the world's biggest economies and acts as a steering committee for global economic policy, will meet February 22-23 in Australia.

Congress must raise debt cap by late-February

The US Treasury said Wednesday that it would run out of money by late February if the US Congress did not increase the country's borrowing limit. "I respectfully urge Congress to provide certainty and stability to the economy and financial markets by acting to raise the debt limit before February 7, 2014, and certainly before late February," Treasury Secretary Jacob Lew said in a letter to Congress. pmh/oh

U.S. global tax law unhurt by Republicans: Treasury official

By Patrick Temple-West WASHINGTON (Reuters) - A senior U.S. Treasury Department official said on Wednesday that Republican Party opposition to a new law meant to fight offshore tax dodging by Americans will not impede the Obama administration's efforts to implement it worldwide. The Foreign Account Tax Compliance Act (FATCA) is expected to be targeted later this week at a Republican National Committee (RNC) meeting by a resolution urging its repeal.

U.S. judge tosses bankers' suit over rules to fight tax-dodging

By Patrick Temple-West WASHINGTON (Reuters) - In a win for the Obama administration's fight against offshore tax evasion, a U.S. federal judge on Monday dismissed a lawsuit challenging new rules forcing U.S. banks to tell the Internal Revenue Service about certain accounts held by foreigners. Set to take effect in March, the rules are part of a fast-emerging global web of bank information-sharing agreements between the United States and many other countries meant to combat the hiding of assets abroad to avoid paying taxes.

Ally Financial repays $5.9 bn to US Treasury

Ally Financial, the former finance arm of General Motors taken over by the government during the financial crisis, repaid the government $5.9 billion Wednesday, the US Treasury said. After two years of restructuring that turned Ally, previously known as GMAC Inc., into a bank holding company, the company has repaid the government $12.3 billion, more than 70 percent of the support provided, the Treasury said. The money will be used to buy back preferred shares held by the Treasury in the bank.

Ally Financial repays $5.9 bn to US Treasury

Ally Financial, the former finance arm of General Motors taken over by the government in the financial crisis, repaid the government $5.9 billion Wednesday, the US Treasury said. After two years of restructuring that turned Ally, previously known as GMAC Inc., into a bank holding company, the company has repaid the government $12.3 billion, more than 70 percent of the support provided, the Treasury said. The money will be used to buy back preferred shares held by the Treasury in the bank.

Foreign holdings of US Treasury debt dip to $5.59 trillion, fifth straight decline

WASHINGTON - Foreign holdings of U.S. Treasury securities fell for a fifth consecutive month, suggesting some buyers may have been worried about the impact of budget fights in Washington. The Treasury Department says total foreign holdings declined 0.1 per cent in August, compared to July, to $5.59 trillion. Holdings have declined $133 billion since hitting a record high in March.

U.S. Treasury says debt calendar not impacted by political impasse

WASHINGTON (Reuters) - The impasse over America's debt ceiling and a temporary shutdown of the federal government have not affected the U.S. Treasury Department's planned calendar for debt issuance, a Treasury official said on Friday. The official spoke to reporters in a briefing regarding upcoming meetings between Treasury officials and dealers of U.S. government securities.
Syndicate content