Assistant Secretary of the Treasury for Financial Institutions
{{Short description|Official in the U.S. Treasury Department}}
{{Infobox official post
| post = Assistant Secretary
| body = the Treasury for Financial Institutions
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| flag = File:Flag_of_the_United_States_Assistant_Secretary_of_the_Treasury.svg
| flagsize =
| flagcaption = Flag of an Assistant Secretary of the Treasury
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| incumbent = Steven Seitz (Acting)
| incumbentsince = January 2024
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| status =
| department = Department of the Treasury
| style = The Honorable
| member_of =
| reports_to = Under Secretary of the Treasury for Domestic Finance
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| seat =
| nominator = President of the United States
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| formation = 1976
| first = Robert A. Gerard
| last =
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| salary = $155,500 (2010){{cite web|title=David Samuel Cohen|url=http://www.fedsdatacenter.com/federal-pay-rates/index.php?n=Cohen%2C+David&l=&a=&o=&y=2010|website=Search Federal Pay|publisher=Feds Data Center|accessdate=29 April 2016}}
| website = [https://home.treasury.gov/about/offices/domestic-finance/financial-institutions 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 (OFI). The office "helps formulate policy on financial institutions and government-sponsored enterprises, cybersecurity and critical infrastructure protection."{{cite web |title=Financial Institutions |url=https://home.treasury.gov/about/offices/domestic-finance/financial-institutions |website=U.S. Department of the Treasury |access-date=7 November 2021}}
The post was most recently held by Graham Steele, who was nominated to the position by President Joe Biden on July 19, 2021.{{cite web |title=President Biden Announces Three Key Nominations |url=https://bidenwhitehouse.archives.gov/briefing-room/statements-releases/2021/07/19/president-biden-announces-three-key-nominations-3/ |website=The White House |date=19 July 2021 |access-date=7 November 2021}} Steele resigned from the position in January 2024.{{Cite web |last=Ellfeldt |first=Avery |date=2024-02-12 |title=E&E News: Exit interview: Ex-Treasury official dishes on climate, insurance risk |url=https://subscriber.politicopro.com/article/eenews/2024/02/12/exit-interview-ex-treasury-official-dishes-on-climate-insurance-risk-00140823 |access-date=2024-02-21 |website=POLITICO |language=en}}
History
The office was formed in 1976 by Secretary of the Treasury William E. Simon as the Assistant Secretary for Capital Markets and Debt Management.{{cite book |url=https://books.google.com/books?id=TLTMzVTOOa0C&pg=PA3 |title=Nominations of Robert A. Gerard and Jerry Thomas |date=1976 |publisher=U.S. Government Printing Office |access-date=December 6, 2022}}
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.[https://www.law.cornell.edu/uscode/text/31/301- 31 U.S.C. § 301(e)] 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.