The Assistant Secretary of the Treasury for Financial Stability was the head of the Office of Financial Stability in the

United States Department of the Treasury The Department of the Treasury (USDT) is the Treasury, national treasury and finance department of the federal government of the United States. It is one of 15 current United States federal executive departments, U.S. government departments. ...

. The position was created on October 3, 2008 by the

Emergency Economic Stabilization Act of 2008 The Emergency Economic Stabilization Act of 2008, also known as the "bank bailout of 2008" or the "Wall Street bailout", was a United States federal law enacted during the Great Recession, which created federal programs to "bail out" failing fi ...

, the act that created the Office of Financial Stability to administer the

Troubled Asset Relief Program The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by Congress and signed into law by U.S. Presi ...

. By law, the Assistant Secretary of the Treasury for Financial Stability is appointed by the

President of the United States The president of the United States (POTUS) is the head of state and head of government of the United States. The president directs the Federal government of the United States#Executive branch, executive branch of the Federal government of t ...

with the

advice and consent Advice and consent is an English phrase frequently used in List of enacting formulae, enacting formulae of bill (proposed law), bills and in other legal or constitutional contexts. It describes either of two situations: where a weak executive ...

of the

United States Senate The United States Senate is a chamber of the Bicameralism, bicameral United States Congress; it is the upper house, with the United States House of Representatives, U.S. House of Representatives being the lower house. Together, the Senate and ...

.Pub.L. 110-343 §101(a)(3)(A)
/ref> During a vacancy, the

United States Secretary of the Treasury The United States secretary of the treasury is the head of the United States Department of the Treasury, and is the chief financial officer of the federal government of the United States. The secretary of the treasury serves as the principal a ...

is authorized to appoint an Acting Assistant Secretary of the Treasury for Financial Stability. The position was abolished after

Timothy Massad Timothy George Massad (born July 30, 1956) is an American lawyer and government official who served as the chairman of the Commodity Futures Trading Commission (CFTC) under President Barack Obama. He had previously been Assistant Secretary for F ...

List of Assistant Secretaries of the Treasury for Financial Stability

{, class="wikitable" !Name !Picture !Assumed office !Left office !

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appointed by !,

Secretary A secretary, administrative assistant, executive assistant, personal secretary, or other similar titles is an individual whose work consists of supporting management, including executives, using a variety of project management, program evalu ...

served under , - ,

Neel Kashkari Neel Tushar Kashkari
George W. Bush administration archives, February 27 ...

(Acting) , Neel-kashkari

, October 6, 2008 , May 1, 2009 ,

George W. Bush George Walker Bush (born July 6, 1946) is an American politician and businessman who was the 43rd president of the United States from 2001 to 2009. A member of the Bush family and the Republican Party (United States), Republican Party, he i ...

Henry Paulson Henry "Hank" Merritt Paulson Jr. (born March 28, 1946) is an American investment banker and financier who served as the 74th United States secretary of the treasury from 2006 to 2009. Prior to his role in the Department of the Treasury, Paulson ...

Timothy Geithner Timothy Franz Geithner (; born August 18, 1961) is an American former central banker who served as the 75th United States secretary of the treasury under President Barack Obama from 2009 to 2013. He was the President of the Federal Reserve Bank o ...

, - , Herbert M. Allison ,

, June 2009 , September 2010 ,

Barack Obama Barack Hussein Obama II (born August 4, 1961) is an American politician who was the 44th president of the United States from 2009 to 2017. A member of the Democratic Party, he was the first African American president in American history. O ...

, - ,

From Treasury Dept. website
/ref> , Official Timothy Massad Photo

, June 30, 2011 , June 5, 2014 ,

Jack Lew Jacob Joseph Lew (born August 29, 1955) is an American attorney and diplomat who served as the 28th United States ambassador to Israel from 2023 to 2025. He was the 76th United States secretary of the treasury from 2013 to 2017. A member of the ...

, -

References

Troubled Asset Relief Program

List of Assistant Secretaries of the Treasury for Financial Stability

See also

References