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Donald Trump will sign two presidential memos on finance, tax rules

Will also sign order to examine if any significant tax rules impose an undue burden on US taxpayers

IANS  |  Washington 

Donald Trump
Donald Trump

US President is planning to order a review of key financial rules on Friday, according to a official.

Trump will sign two presidential memos in this regard, Politico news reported.

One will direct Treasury Secretary Steven Mnuchin to examine the government's so-called orderly liquidation authority to wind down failing megabanks outside of bankruptcy court, the official said on Thursday.

The second memo will examine the risks of placing "systemically important" under the oversight of the Federal Reserve, which subjects them to stricter regulation.

According to the official, both memos appear to be more specific extensions of the financial regulatory review that Trump on February 3 ordered Treasury to conduct, to determine how rules governing banks, insurers and other financial firms can be improved.

The President will also sign an executive order directing Mnuchin to examine if any significant rules impose an undue burden on US taxpayers, add unnecessary complexity or exceed statutory authority.

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Donald Trump will sign two presidential memos on finance, tax rules

Will also sign order to examine if any significant tax rules impose an undue burden on US taxpayers

Will also sign order to examine if any significant tax rules impose an undue burden on US taxpayers

US President is planning to order a review of key financial rules on Friday, according to a official.

Trump will sign two presidential memos in this regard, Politico news reported.

One will direct Treasury Secretary Steven Mnuchin to examine the government's so-called orderly liquidation authority to wind down failing megabanks outside of bankruptcy court, the official said on Thursday.

The second memo will examine the risks of placing "systemically important" under the oversight of the Federal Reserve, which subjects them to stricter regulation.

According to the official, both memos appear to be more specific extensions of the financial regulatory review that Trump on February 3 ordered Treasury to conduct, to determine how rules governing banks, insurers and other financial firms can be improved.

The President will also sign an executive order directing Mnuchin to examine if any significant rules impose an undue burden on US taxpayers, add unnecessary complexity or exceed statutory authority.

image
Business Standard
177 22

Donald Trump will sign two presidential memos on finance, tax rules

Will also sign order to examine if any significant tax rules impose an undue burden on US taxpayers

US President is planning to order a review of key financial rules on Friday, according to a official.

Trump will sign two presidential memos in this regard, Politico news reported.

One will direct Treasury Secretary Steven Mnuchin to examine the government's so-called orderly liquidation authority to wind down failing megabanks outside of bankruptcy court, the official said on Thursday.

The second memo will examine the risks of placing "systemically important" under the oversight of the Federal Reserve, which subjects them to stricter regulation.

According to the official, both memos appear to be more specific extensions of the financial regulatory review that Trump on February 3 ordered Treasury to conduct, to determine how rules governing banks, insurers and other financial firms can be improved.

The President will also sign an executive order directing Mnuchin to examine if any significant rules impose an undue burden on US taxpayers, add unnecessary complexity or exceed statutory authority.

image
Business Standard
177 22