Office of Financial Stability


Office of Financial Stability

The Office of Financial Stability is a new office within the Office of Domestic Finance of the United States Treasury created by the Emergency Economic Stabilization Act of 2008 to operate the Troubled Assets Relief Program.[1]

OFS is headed by an Assistant Secretary of the Treasury for Financial Stability, appointed by the President, confirmed by the United States Senate, except that an interim Assistant Secretary may be appointed by the Secretary. [2]

On October 6, 2008, it was announced that Neel Kashkari, a former executive at Goldman Sachs, would be the interim head of the Office of Financial Stability.[3]

As of April 14, 2009 it has been rumored that Herbert M. Allison, the current chief executive at Fannie Mae, will be selected to head the Office of Financial Stability.[4][5] The announcement reportedly hasn't been made because of the high number of vacancies at Fannie Mae and Freddie Mac.[6]

Staff

Initial staff members were announced on October 13, 2008, CIO position revised October 22, 2008:

  • James H. Lambright, interim chief investment officer. On loan from the Export-Import Bank. State Department Under Secretary Reuben Jeffery was originally selected for the position.[7]
  • Howard Schweitzer, interim chief operating officer. Previously General Counsel at Export-Import Bank.
  • Jonathan Fiechter, interim chief risk officer. Previously deputy director of the International Monetary Fund's monetary and capital markets director.
  • Donald Hammond, interim chief compliance officer. Previously deputy director of the Federal Reserve payments division.
  • Thomas Bloom, interim chief financial officer. On loan from the Office of the Comptroller of the Currency.

References

External links



Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Office of Financial Institutions — The Office of Financial Institutions (OFI) is an agency of the United States federal government in the United States Department of the Treasury. OFI coordinates the Department s efforts regarding financial institutions legislation and regulation …   Wikipedia

  • Office of Financial Markets (U.S.) — The Office of Financial Markets is an agency of the United States federal government in the United States Department of the Treasury. OFM serves as the Department s advisor on broad matters of domestic finance, financial markets, Federal, State… …   Wikipedia

  • Financial Stability Oversight Council — (FSOC) USA Created on July 21, 2010 under Title I (the Financial Stability Act of 2010) of the Dodd Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd Frank Act), the Financial Stability Oversight Council ( …   Law dictionary

  • Office of Financial Research — (OFR) USA Created under the Dodd Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd Frank Act), the Office of Financial Research (OFR) is a department within the US Department of the Tre …   Law dictionary

  • Office of Financial Research — OFR redirects here. For other uses, see OFR (disambiguation). The Office of Financial Research (OFR) is an agency established by the Dodd Frank Wall Street Reform and Consumer Protection Act within the Treasury Department to improve the quality… …   Wikipedia

  • Office of Thrift Supervision — Agency overview Formed August 9, 1989 Preceding agency Federal Home Loan Bank Board Dissolved …   Wikipedia

  • Office of the Comptroller of the Currency — Agency …   Wikipedia

  • Office of Terrorist Financing and Financial Crimes — The Office of Terrorist Finance and Financial Crimes (TFFC) is an agency of the United States federal government in the United States Department of the Treasury. Under the supervision of the Under Secretary for Terrorism and Financial… …   Wikipedia

  • 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, currently Kenneth E. Carfine. Assistant… …   Wikipedia

  • Office of Terrorism and Financial Intelligence — The Office of Terrorism and Financial Intelligence (TFI) is an agency of the United States Department of the Treasury. TFI marshals the department s intelligence and enforcement functions with the twin aims of safeguarding the financial system… …   Wikipedia


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.