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Office Of Fiscal Service
The Office of Fiscal Service (OFS) is an agency of the United States federal government in the United States Department of the Treasury. The office is led by the Fiscal Assistant Secretary of the Treasury. The Fiscal Assistant Secretary reports to the United States Secretary of the Treasury through the Under Secretary of the Treasury for Domestic Finance. Within the Office of Fiscal Service are: *The Office of Fiscal Operations and Policy *The Office of Accounting Policy Mission The Office of Fiscal Service's mission is to develop policy for and operate the financial infrastructure of the federal government, including payments, collections, cash management, financing, central accounting, and delinquent debt collection. OFS provides policy oversight of the bureaus under it and develops policy on payments, collections, debt financing operations, electronic commerce, government wide accounting, government investment fund management, and other issues. The office also performs two mi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Federal Government
The Federal Government of the United States of America (U.S. federal government or U.S. government) is the Federation#Federal governments, national government of the United States. The U.S. federal government is composed of three distinct branches: United States Congress, legislative, President of the United States, executive, and Federal judiciary of the United States, judicial. Powers of these three branches are defined and vested by the Constitution of the United States, U.S. Constitution, which has been in continuous effect since May 4, 1789. The powers and duties of these branches are further defined by Act of Congress, Acts of Congress, including the creation of United States federal executive departments, executive departments and courts subordinate to the Supreme Court of the United States, U.S. Supreme Court. In the Federalism in the United States, federal division of power, the federal government shares sovereignty with each of the 50 states in their respective t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chief Financial Officers Council
Chief may refer to: Title or rank Military and law enforcement * Chief master sergeant, the ninth, and highest, enlisted rank in the U.S. Air Force and U.S. Space Force * Chief of police, the head of a police department * Chief of the boat, the senior enlisted sailor on a U.S. Navy submarine * Chief petty officer, a non-commissioned officer or equivalent in many navies * Chief warrant officer, a military rank Other titles * Chief ''x'' officer, a corporate title in the c-suite * Chief of the Name, head of a family or clan in Ireland and Scotland * Chief engineer, the most senior licensed mariner of an engine department on a ship, typically a merchant ship * Chief mate, or Chief officer, the highest senior officer in the deck department on a merchant vessel * Chief of staff, the leader of a complex organization * Fire chief, top rank in a fire department * Scottish clan chief, the head of a Scottish clan * Tribal chief, a leader of a tribal form of government * Chief, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of Management And Budget
The Office of Management and Budget (OMB) is the largest office within the Executive Office of the President of the United States (EOP). The office's most prominent function is to produce the president's budget, while it also examines agency programs, policies, and procedures to see whether they comply with the president's policies and coordinates inter-agency policy initiatives. Russell Vought is the current director of the OMB since February 2025. History The Bureau of the Budget, OMB's predecessor, was established in 1921 as a part of the United States Department of the Treasury, Department of the Treasury by the Budget and Accounting Act of 1921, which President Warren G. Harding signed into law. The Bureau of the Budget was moved to the Executive Office of the President of the United States, Executive Office of the President in 1939 and was run by Harold D. Smith during the government's rapid expansion of spending during World War II. James L. Sundquist, a staffer at the B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Small Business Jobs Act Of 2010
The Small Business Jobs Act of 2010 () is a federal law passed by the 111th United States Congress and signed into law by President of the United States, President Barack Obama on September 27, 2010. The law authorizes the creation of the Small Business Lending Fund Program administered by the Treasury Department to make capital investments in eligible institutions, in order to increase the availability of credit for small businesses. Provisions The provisions of the Act included: * Establishes the creation of a $30 billion lending program for community banks with assets less than $10 billion. * Increases limits on how much money a company can borrow under various Small Business Administration loan programs. * Provides $12 billion in tax cuts, including a 100% exclusion of capital gains taxes on small business investments. * Allows for small businesses to carry back general business tax credits to offset the tax burden from the previous five years. Small businesses also will be ab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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. President, President George W. Bush. It was a component of the government's measures in 2009 to address the subprime mortgage crisis. The TARP originally authorized expenditures of $700 billion. The Emergency Economic Stabilization Act of 2008 created the TARP. The Dodd–Frank Wall Street Reform and Consumer Protection Act, signed into law in 2010, reduced the amount authorized to $475 billion (approximately $ in ). By October 11, 2012, the Congressional Budget Office (CBO) stated that total disbursements would be $431 billion, and estimated the total cost, including grants for mortgage programs that have not yet been made, would be $24 billion. On December 19, 2014, the U.S. Treasury sold its remaining holdings of Ally Financial, essentially ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deepwater Horizon Oil Spill
The ''Deepwater Horizon'' oil spill was an environmental disaster off the coast of the United States in the Gulf of Mexico, on the BP-operated Macondo Prospect. It is considered the largest marine oil spill in the history of the petroleum industry and estimated to be 8 to 31 percent larger in volume than the previous largest, the Ixtoc I oil spill, also in the Gulf of Mexico. Caused in the aftermath of a blowout and explosion on the Deepwater Horizon oil platform, the United States federal government estimated the total discharge at . After Efforts to stem the Deepwater Horizon oil spill, several failed efforts to contain the flow, the well was declared sealed on 19 September 2010. Reports in early 2012 indicated that the well site was still leaking. The ''Deepwater Horizon'' oil spill is regarded as one of the largest environmental disasters in world history. A massive response ensued to protect beaches, salt marsh, wetlands and Estuary, estuaries from the spreading oil util ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
RESTORE Act
The RESTORE Act (the Resources and Ecosystems Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act) is a United States federal statute that was signed into law by President Barack Obama on July 6, 2012. It was enacted by the 112th United States Congress as an amendment of the Moving Ahead for Progress in the 21st Century Act (MAP-21), a transportation bill that included many other provisions. The act was in response to the Deepwater Horizon oil spill that occurred on April 20, 2010, which caused significant environmental, ecological, and economic damage to the U.S. Gulf Coast. __TOC__ Origins On April 20, 2010, the ''Deepwater Horizon'', an oil rig located in the Gulf of Mexico that was owned by Transocean and drilling for British Petroleum ( BP) exploded, killing 11 workers and injuring 16. The rig burned for over a day before it sank into the gulf on April 22, 2010. Following the explosion, the seafloor oil gusher flowed for 87 days, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bureau Of The Public Debt
The Bureau of the Public Debt was an agency within the Fiscal Service of the Department of the Treasury that managed the public debt of the United States. It was consolidated with the Financial Management Service to form the Bureau of the Fiscal Service in 2012. Under authority derived from Article I, section 8 of the Constitution, the Bureau of Public Debt was responsible for borrowing the money needed to operate the federal government, and was where donations to reduce the debt were made. It also accounted for the resulting debt and more recently, provided administrative and IT services to federal agencies. Principal operations were conducted in Washington, D.C. and Parkersburg, West Virginia. It relied on Federal Reserve Banks, acting as Treasury's fiscal agents, to operate critical systems in support of the bureau's programs and to perform a variety of processing and customer service functions in marketable and savings securities. The Bureau also provided reimbursabl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Management Service
The Financial Management Service (or FMS) was a bureau of the United States Department of the Treasury and provided several financial services for the federal government. On October 7, 2012, Secretary of the Treasury Timothy Geithner issued a directive merging the FMS with the Bureau of the Public Debt to form the new Bureau of the Fiscal Service. Services These services included centralized payment, collection, and reporting services, oversight of a daily cash flow of nearly $58billion into and out of federal accounts, disbursement of more than $1.5trillion to more than 100million individuals via Social Security and veterans' benefits, issuance of tax refunds and other federal payments, collection of more than $2.67trillion per year in payments to the government through financial institutions, and collection of delinquent debts owed to the government. FMS had a total of 2,100 employees located in its headquarters offices in Washington, D.C., and Hyattsville, Maryland, and its fiv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bureau Of The Fiscal Service
The Bureau of the Fiscal Service (Fiscal Service) is part of the U.S. Department of the Treasury. The Bureau consolidates the activities of the previous Bureau of the Public Debt and the Financial Management Service, under the Office of Fiscal Service. It manages the government's accounting, central payment systems, and public debt; it serves essentially as the United States Government's checking account and the payment rail for every federal agency. The Bureau acts as the federal government's agent as it interfaces with the various agencies. It also operates the TreasuryDirect website for purchasing Treasury securities. The Bureau also manages the daily auctions of Treasury Securities, which provide the cash necessary to fund all activities of the United States Government. History The Fiscal Service's roots begin under the Roosevelt administration, beginning in 1939 as a consolidation of all Treasury financing activities into a "Fiscal Service." The Bureau's activi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve System
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. Although an instrument of the U.S. government, the Federal Reserve System considers itself "an independent central bank because its monetary policy decisions do not have to be approved by the president or by anyone else in the executive or legislative branches of government, it does not receive funding appropriated by Congress, and the terms of the members of the board of governors span multiple presidential and congressional terms." Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
