United States Under Secretary of the Treasury for International Affairs
Seal of the Department of Treasury
Flag of an Under Secretary of the Treasury
Incumbent Jay Shambaugh since January 13, 2023
Department of the Treasury
Style	The Honorable
Reports to	Secretary of the Treasury Deputy Secretary of the Treasury
Seat	Treasury Building Washington, D.C.
Appointer	President of the United States with Senate advice and consent
Term length	No fixed term
First holder	David C. Mulford
Website	Official website

The Under Secretary of the Treasury for International Affairs 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 on international economic issues and is often referred to as the U.S. Treasury’s top economic diplomat. As of January 13, 2023^[update], the under secretary is Jay Shambaugh.

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 international economic policies with the G7 and G20.^[1]

Overview

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

Office of International Economic Analysis
Assistant Secretary of the Treasury for International Finance
- Office of Asia
- Office of Europe and Eurasia
- Office of Western Hemisphere
- Office of Middle East and North Africa
- Office of International Monetary Policy
- Office of International Development Finance
  - United States Executive Director of the African Development Bank
  - United States Executive Director of the International Monetary Fund
  - United States Executive Director of the World Bank
  - United States Executive Director of the Asian Development Bank
  - United States Executive Director of the Inter-American Development Bank
  - United States Executive Director of the European Bank for Reconstruction and Development
Assistant Secretary of the Treasury for International Trade and Development
- Office of Trade and Investment Policy
- Office of Investment, Energy, and Infrastructure
- Office of International Financial Markets
- Office of Technical Assistance
Assistant Secretary of the Treasury for Investment Security
- Office of Investment Security
  - Committee on Foreign Investment in the United States (CFIUS)

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

List of Under Secretaries of the Treasury for International Affairs

Name	Assumed office	Left office	President appointed by
David C. Mulford^[2]	1989	1992	George H. W. Bush
Lawrence Summers^[3]	1993	1995	Bill Clinton
Jeffrey R. Shafer^[4]	1995	1997	Bill Clinton
David Lipton^[5]	1997	1998	Bill Clinton
Timothy Geithner^[6]	1998	2001	Bill Clinton
John B. Taylor^[7]	2001	2005	George W. Bush
Timothy D. Adams^[8]	2005	2007	George W. Bush
David McCormick^[9]	2007	2009	George W. Bush
Lael Brainard^[10]	2010	2013	Barack Obama
D. Nathan Sheets^[11]	2014	2017	Barack Obama
David Malpass^[12]	2017	2019	Donald J. Trump
Brent McIntosh^[13]	2019	2021	Donald J. Trump
Jay Shambaugh^[14]	2023	Current	Joe R. Biden

References

^ "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.
^ "David C. Mulford".
^ "Lawrence Summers".
^ "Jeffrey R. Shafer".
^ "David Lipton".
^ "Timothy Geithner".
^ "John B. Taylor".
^ "Timothy D. Adams".
^ "David McCormick".
^ "Lael Brainard".
^ "D. Nathan Sheets".
^ "David Malpass".
^ "Brent McIntosh".
^ "Jay Shambaugh".

v t e United States Department of the Treasury
Headquarters: Treasury Building and Freedman's Bank Building Janet Yellen, Secretary of the Treasury Wally Adeyemo, Deputy Secretary of the Treasury
Deputy Secretary of the Treasury	Alcohol and Tobacco Tax and Trade Bureau Community Development Financial Institutions Fund Internal Revenue Service Treasury Inspector General for Tax Administration Office of Inspector General Office of the Comptroller of the Currency Office of Tax Policy
Under Secretary of the Treasury for International Affairs	Office of East Asia Office of South and Southeast Asia Nations Office of Europe & Eurasia Office of the Western Hemisphere Office of International Monetary Policy Office of Banking and Securities Office of International Debt Policy Office of Development Policy Office of Financing Operations Office of African Nations Office of the Middle East and North Africa Office of International Trade Office of International Investment Office of Trade Finance Office of Technical Assistance Office of Risk and Research Analysis Exchange Stabilization Fund
Under Secretary of the Treasury for Domestic Finance	Advanced Counterfeit Deterrence Federal Financing Bank Office of Debt Management Office of Financial Institutions Office of Financial Markets Office of Financial Stability Office of Fiscal Service Bureau of the Fiscal Service
Under Secretary of the Treasury for Terrorism and Financial Intelligence	Office of Terrorism and Financial Intelligence Office of Terrorist Financing and Financial Crimes Office of Intelligence and Analysis Office of Foreign Assets Control Financial Crimes Enforcement Network Treasury Executive Office for Asset Forfeiture
Treasurer of the United States	Bureau of Engraving and Printing United States Mint