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Director, Press Relations
Director, Congressional Affairs

WILLIAM E. FULWIDER
JOHN L. VON SEGGERN

The Department of the Treasury performs four basic functions: formulating and recommending economic, financial, tax, and fiscal policies; serving as financial agent for the U.S. Government; enforcing the law; and manufacturing coins and currency.

The Treasury Department was created by assigned programs, and acts for the act of September 2, 1789 (31 U.S.C. 301 Secretary in his absence. and 301 note). Many subsequent acts have figured in the development of the Under Secretary for International Department, delegating new duties to its Affairs charge and establishing the numerous

The Under Secretary for International bureaus and divisions that now comprise Affairs advises and assists the Secretary the Treasury.

and Deputy Secretary of the Treasury in

the formulation and execution of U.S. Secretary

international policy. These As a major policy adviser to the

responsibilities include the development President, the Secretary has primary of policies and guidance of Department responsibility for formulating and

activities in the areas of international recommending domestic and

monetary affairs, trade and investment international financial, economic, and policy, international debt strategy, and tax policy, participating in the

U.S. participation in international formulation of broad fiscal policies that financial institutions. The Under have general significance for the

Secretary acts as the U.S. G-7 Deputy economy; and managing the public debt. with responsibility for coordinating The Secretary also oversees the activities economic policies with finance ministers of the Department in carrying out its

from seven industrial nations and major law enforcement responsibility; in preparing the President for the annual serving as the financial agent for the U.S. economic summits. Government; and in manufacturing coins, currency, and other products for Under Secretary for Domestic customer agencies.

Finance In addition, the Secretary has many The Under Secretary for Domestic responsibilities as chief financial officer Finance advises and assists the Secretary of the Government. The Secretary serves and Deputy Secretary of the Treasury in as Chairman pro tempore of the

the areas of domestic finance, banking, Economic Policy Council and as U.S. and other related economic matters. Governor of the International Monetary These responsibilities include the Fund, the International Bank for

development of policies and guidance Reconstruction and Development, the for Treasury Department activities in the Inter-American Development Bank, and areas of financial institutions, Federal the African Development Bank. The debt finance, financial regulation, and Office of the Secretary includes the

capital markets. offices of Deputy Secretary, General Counsel, Inspector General, the Under Under Secretary for Enforcement Secretaries, the Assistant Secretaries, and

The Office of the Under Secretary for Treasurer.

Enforcement was established in fiscal

year 1994 to promote and protect the Deputy Secretary

Treasury Department's enforcement The Deputy Secretary assists the

interest, to effect an equalization across Secretary in the supervision and

other departmental secretariats as they direction of the Department and its deal on enforcement issues.

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GENERAL COUNSEL

ASSISTANT SECRETARY (International

Affairs)

ASSISTANT
SECRETARY

(Legislative Affairs & Publid

Liaison)

ASSISTANT
SECRETARY
(Public Affairs)

ASSISTANT
SECRETARY
(Economic
Policy)

FISCAL
ASSISTANT
SECRETARY

ASSISTANT
SECRETARY

(Financial Institutions)

ASSISTANT
SECRETARY
(Enforcement)

ASSISTANT
SECRETARY
(Tax Policy)

INSPECTOR
GENERAL

ASSISTANT
SECRETARY
(Management)

and CFO

TREASURER

OF THE
UNITED
STATES

'Assistant Secretary (Management) is the Chief Financial Officer (CFO).

Assistant Secretaries Financial Institutions The Assistant Secretary (Domestic Finance) advises and assists the Secretary, Deputy Secretary, and Under Secretary for Finance on matters of Federal, State, and local finance, financial institutions policy, and synthetic fuels projects.

In the area of Federal finance, the Office is responsible for Government financing and debt management; determining interest rates for various Federal borrowing, lending, and investment purposes under pertinent statutes; and developing legislative and administrative principles and standards for Federal credit programs, loan asset sales, and the Federal Financing Bank.

The Office is also responsible for:

-issues involving the financing of State and local governments;

-oversight of the Office of Revenue Sharing, which returns specified amounts of federally collected funds to eligible units of general-purpose governments;

-coordinating the Treasury Department's legislative efforts with regard to financial institutions legislation and legislation affecting the Federal agencies that regulate financial institutions; and

-providing support to carry out the Department's responsibilities regarding the Securities Investor Protection Corporation, the Pension Benefit Guaranty Corporation, and synthetic fuels projects taken over from the Synthetic Fuels Corporation. Economic Policy The Assistant Secretary (Economic Policy) informs the Secretary and other senior Treasury officials of current and prospective economic developments and assists in the determination of appropriate economic policies. The Assistant Secretary:

-reviews and analyzes both domestic and international economic issues, as well as developments in the financial markets;

- participates with the Secretary in the Economic Policy Council and the Troika Forecasting Group, which develops official economic projections and advises the President on choices among

alternative courses of economic policy; and

-works closely with officials of the Office of Management and Budget, the Council of Economic Advisers, and other Government agencies on the economic forecasts underlying the yearly budget process, and advises the Secretary on the economic effects of tax and budget policy.

Within the Office of Economic Policy, staff support is provided by the Office of Financial Analysis, the Office of Special Studies, the Office of Monetary Policy Analysis, and the Applied Econometric Staff. Enforcement The Assistant Secretary (Enforcement) supervises the following operating bureaus: U.S. Secret Service; U.S. Customs Service; Federal Law Enforcement Training Center; and Alcohol, Tobacco and Firearms. In addition, the Assistant Secretary is responsible for the Office of Financial Enforcement, and the Office of Foreign Assets Control.

The Assistant Secretary coordinates Treasury law enforcement matters, including the formulation of policies for Treasury enforcement activities, and cooperates on law enforcement matters with other Federal agencies.

The important missions of protecting the President and other high Government officials and preventing counterfeiting of U.S. currency and theft and forgery of Government securities and checks are entrusted to the U.S. Secret Service.

The U.S. Customs Service collects revenue from imports and enforces the customs laws. In addition, it interdicts contraband, including narcotics, along the land and sea borders of the United States.

The Bureau of Alcohol, Tobacco and Firearms is charged with collecting excise taxes on alcoholic beverages and tobacco products; suppressing traffic in illicit distilled spirits and illegal use of explosives, and controlling the sale and registration of firearms.

The Federal Law Enforcement Training Center provides law enforcement training for personnel of Federal agencies.

The Office of Financial Enforcement Secretary, and Under Secretary for assists in implementing the Bank Secrecy International Affairs in the formulation Act and administering related Treasury and execution of policies dealing with regulations.

international monetary, financial, The Office of Foreign Assets Control commercial, energy, and trade policies assists U.S. foreign policy aims by and programs. The work of the Office is controlling assets in the United States of

organized into groups responsible for "blocked" countries and the flow of monetary affairs, developing nations, funds and trade to them.

trade and investment policy, and Fiscal Affairs The Office of the Fiscal

Arabian Peninsula affairs. Assistant Secretary was established

These functions are performed by pursuant to Reorganization Plan No. III supporting staff offices, which: of 1940 (5 U.S.C. app.). The Office -conduct financial diplomacy with supervises the administration of the industrial and developing nations and Government's fiscal affairs. This includes regions; the administration of Treasury financing -work toward improving the structure operations; management of Treasury's and operations of the international cash balances in tax and loan investment monetary system; accounts in commercial financial

-monitor developments in foreign institutions and operating balances with

exchange and other markets and official Federal Reserve Banks; and the

operations affecting those markets; Department's participation in the Joint

- facilitate structural monetary Financial Management Improvement

cooperation through the International Program for improvement of accounting

Monetary Fund and other channels; in the Federal Government. Supervision

-oversee U.S. participation in the and oversight over the functions and

multilateral development banks and activities of the Financial Management

coordinate U.S. Policies and operations Service and the Bureau of the Public

relating to bilateral and multilateral Debt are also provided.

development lending programs and The Fiscal Assistant Secretary is

institutions; responsible for improved cash

-formulate policy concerning management, debi collection, and credit

financing of trade; administration on a Governmentwide

- coordinate policies toward foreign

investments in the United States and basis under the umbrella of the Administration's Reform '88 initiative.

U.S. investments abroad; and The Office:

-analyze balance of payments and -acts as liaison between the Secretary

other basic financial and economic data, and other Government agencies with

including data on petroleum, affecting respect to their financial operations;

world payment patterns and the world -manages the cash position of the economic outlook. Treasury and projects and monitors

As part of those functions, the Office "debt subject-to-limit;"

supports the Secretary in his role as co-directs the performance of the fiscal Chairman of the U.S.-Saudi Arabian Joint agency functions of the Federal Reserve Commission on Economic Cooperation, Banks;

Co-Chairman of the U.S.-Israel Joint - conducts governmentwide

Committee for Investment and Trade, coaccounting and cash management

Chairman of the U.S.-China Joint activities;

Economic Committee, and Chairman of -exercises supervision over

the National Advisory Council on depositories of the United States; and International Monetary and Financial

-provides management overview of Policies. investment practices for Government Treasurer of the United States The trust and other accounts.

Office of the Treasurer of the United International Affairs The Office of the States was established on September 6, Assistant Secretary (International Affairs) 1777. The Treasurer was originally advises and assists the Secretary, Deputy charged with the receipt and custody of

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