Under Secretary of the Treasury for International Affairs
Flag of an Under Secretary of the Treasury
Incumbent
Andy Baukol[1]
(Acting)

since unknown
Department of the Treasury
StyleThe Honorable
Reports toSecretary of the Treasury
Deputy Secretary of the Treasury
NominatorPresident of the United States
Salary$183,300 (2021)
WebsiteOfficial website

The Under Secretary of the Treasury for International Affairs is a senior position within the United States Department of the Treasury responsible for advising the Secretary of the Treasury on international economic issues. During the Trump Administration the office was held by Brent McIntosh following the appointment of David Malpass to lead the World Bank. As of June 2021, the office is vacant.[2]

Overview

The Office of International Affairs (IA), led by the Under Secretary of the Treasury for International Affairs, has oversight of the following:

The Office of International Affairs also oversees the operations of the Exchange Stabilization Fund and the U.S.–China Strategic and Economic Dialogue.

Former Under Secretaries

The office of Under Secretary for International Affairs was vacant for nearly a year, following the November 2013 departure of Lael Brainard, who had been appointed by President Barack Obama in April 2010. On Wednesday, February 12, 2014, the White House Press Office announced that U.S. President Barack Obama had nominated D. Nathan Sheets, of Maryland, to the U.S. Senate for confirmation as her replacement.[3] On September 18, 2014, Sheets was confirmed unanimously by the U.S. Senate for the position.[4] Notable former Under Secretaries include Paul Volcker,[5] David H. McCormick,[6] Timothy D. Adams,[7] John B. Taylor,[8] Timothy F. Geithner,[9] David Mulford, David Malpass, and Lawrence H. Summers.[10]

Duties

The Under Secretary leads the development and implementation of policies in the areas of international finance, trade in financial services, investment, economic development, international debt. It also leads the development of policies on U.S. participation in the International Monetary Fund, the World Bank, and the other multilateral development banks (including the Inter-American Development Bank, the African Development Bank, the Asian Development Bank, and the European Bank for Reconstruction and Development). The Under Secretary also coordinates financial market policy with the G7 industrial nations.[6]

References

  1. ^ "Remarks by Acting Under Secretary of International Affairs at the U.S. Department of the Treasury, Andy Baukol, at the European Bank for Reconstruction and Development's Board of Governors Plenary Session". U.S. Department of the Treasury. Retrieved 4 July 2021.
  2. ^ "Officials". treasury.gov. US Treasury. Retrieved June 30, 2021.
  3. ^ www.whitehouse.gov
  4. ^ "Nathan Sheets Confirmed as Treasury Under Secretary for International Affairs".
  5. ^ "Paul A. Volcker | Federal Reserve History". www.federalreservehistory.org. Retrieved 2017-09-04.
  6. ^ a b "U.S. Treasury - Biography of David H. McCormick, Under Secretary for International Affairs". Archived from the original on November 7, 2007. Retrieved September 21, 2007.
  7. ^ "U.S. Treasury - Biography of Timothy D. Adams, Under Secretary for International Affairs". Archived from the original on September 27, 2007. Retrieved September 21, 2007.
  8. ^ "Policies in International Finance 2001-2005". Retrieved September 21, 2007.
  9. ^ "Timothy F. Geithner, President of the New York Fed - Organization - About the Fed - Federal Reserve Bank of New York". Retrieved September 21, 2007.
  10. ^ "History of the President's Office". Archived from the original on July 4, 2007. Retrieved September 21, 2007.