Assistant Secretary of the Treasury for Financial Institutions | |
---|---|
Department of the Treasury | |
Style | The Honorable |
Reports to | Under Secretary of the Treasury for Domestic Finance |
Nominator | President of the United States |
Formation | 1976 |
First holder | Robert A. Gerard |
Salary | $155,500 (2010) [1] |
Website | Official website |
The Assistant Secretary of the Treasury for Financial Institutions is an official in the United States Department of the Treasury who is the head of the Office of Financial Institutions. The office "helps formulate policy on financial institutions and government-sponsored enterprises, cybersecurity and critical infrastructure protection." [2] The post is currently held by Graham Steele, with President Joe Biden nominating him to lead the office on July 19, 2021. [3]
The office was formed in 1976 by Secretary of the Treasury William E. Simon as the Assistant Secretary for Capital Markets and Debt Management. [4]
According to U.S. statute, there are ten Assistant Secretaries of the Treasury appointed by the President of the United States with the advice and consent of the United States Senate. [5] The Assistant Secretary of the Treasury for Financial Institutions reports to the Under Secretary of the Treasury for Domestic Finance, who in turn reports to the United States Secretary of the Treasury and the United States Deputy Secretary of the Treasury.
The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and the U.S. Mint. These two agencies are responsible for printing all paper currency and minting coins, while the treasury executes currency circulation in the domestic fiscal system. The USDT collects all federal taxes through the Internal Revenue Service; manages U.S. government debt instruments; licenses and supervises banks and thrift institutions; and advises the legislative and executive branches on matters of fiscal policy. The department is administered by the secretary of the treasury, who is a member of the Cabinet. The treasurer of the United States has limited statutory duties, but advises the Secretary on various matters such as coinage and currency production. Signatures of both officials appear on all Federal Reserve notes.
The Under Secretary of the Treasury for Domestic Finance is a high-ranking position within United States Department of the Treasury that reports to, advises, and assists the Secretary of the Treasury and the Deputy Secretary of the Treasury. The under secretary leads the department's policy on the issues of domestic finance, fiscal policy, fiscal operations, government assets, government liabilities, and other related economic and fiscal matters.
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