Treasury

Treasury to begin distributing virus relief money to tribes

FLAGSTAFF, Ariz. (AP) — The U.S. Treasury Department said Tuesday that it will begin doling out billions to help tribes respond and recover from the coronavirus more than a week after a congressional deadline and after being sued over who is eligible for the money.

The $2.2 trillion federal rescue package approved in late March set aside $8 billion for tribal governments. The money was supposed to be distributed by April 26, but the Treasury Department said it was grappling with how to do it.

Tribes sued the agency to keep the money from going to Alaska Native corporations, which own most Native lands in the state under a 1971 settlement but are not tribal governments. U.S. District Judge Amit Mehta in Washington, D.C., gave the tribes a victory last week by limiting the funding to the country’s 574 federally recognized tribes while he settles the question of eligibility.

The

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Job: Treasury & Corporate Finance Head at SIEMENS in Cairo, Egypt

Experience Needed:
More than 10 years
Career Level:
Manager
Job Type:
Full Time
Salary:

Confidential

Languages:
Arabic, English
Vacancies:
1
open
position

About the Job

t are my responsibilities?

  • Manage RC Egypt as Treasurer and act as Relationship Manager for the CFO on all Treasury relevant subjects, which do not fall under the responsibility of the Regional ME Treasury.
  • Provide first-class treasury services to operating business.
  • Manage and control financial risks, liquidity position and funding requirements.
  • Control appropriate administration of financial transactions.
  • Ensure process execution according to standardized treasury processes.
  • Advise operating businesses on compliance with financial guidelines and monitor adherence to MTO requirements.
  • Remediate and escalate non-compliance behavior with internal guidelines with the respective organization.
  • Responsible for the implementation and execution of Treasury FX processes for MTO countries.
  • Enable an active community with country FX Managers.
  • Communicate and report to Regional ME Treasury team, Regional Head of Treasury &
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Benchmark 30-Year Mortgage Rate Rises With Treasury Yields

Mortgage rates jumped again this week, with the benchmark 30-year fixed-rate mortgage moving to 3.88 percent from 3.77 percent, according to Bankrate’s weekly survey of large lenders.

The rise in rates may be partly due to constrained capacity at the nation’s mortgage lenders, which are coping with a more than four-fold increase in applications as rates have plunged during the coronavirus pandemic. The 10-year Treasury note, a bellwether for mortgage rates, finished Wednesday at 1.18 percent, above its record low of a week ago, its biggest one-day yield increase since 1982. This promises to push mortgage rates higher still.

A year ago, the 30-year rate was 4.44 percent. Four weeks ago, the rate was 3.75 percent. The 30-year fixed-rate average for this week is 0.48 percentage points below the 52-week high of 4.36 percent, and is 0.32 percentage points above the 52-week low of 3.56 percent.

The 30-year fixed mortgages

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