DATE: April 13, 2018
SUBJECT: Realignment of and Delegation of Authority for the Troubled Asset Relief Program and Related Functions pursuant to the Emergency Economic Stabilization Act of 2008 (Act)
- REALIGNMENT OF THE OFFICE OF FINANCIAL STABILITY. The Office of Financial Stability shall hereby continue with all existing authorities and responsibilities, including mandatory budget authority to administer the Troubled Asset Relief Program (TARP). However, the Office of Financial Stability no longer shall report to the position of Assistant Secretary for Financial Stability and is hereby realigned within the Office of Domestic Finance to the Office of the Assistant Secretary for Financial Institutions, and shall be headed by the Assistant Secretary for Financial Institutions.
- Except as otherwise delegated or reserved in this order, there is hereby delegated to the Assistant Secretary for Financial Institutions the authority to perform the functions of the Secretary of the Treasury under Title I, sections 101 to 136 of the Act.
- There is hereby delegated to the Assistant Secretary for Management and Chief Financial Officer the authorities concerning contracting procedures under section 107.
- There is hereby delegated to the Fiscal Assistant Secretary the authorities concerning designating financial agents under section 101.
- RESERVED AUTHORITIES. The following authorities under the Act are reserved to the Secretary or the Deputy Secretary except to the extent they have been or may be delegated under other specific or generally applicable Treasury Orders:
- Authority to appoint an interim Assistant Secretary under section 101(a) (3) (A).
- Authorities regarding the Financial Stability Oversight Board under section 104.
- Authority on Exchange Stabilization Fund reimbursement under section 131.
- Authorities concerning borrowing limits under section 136.
- The Assistant Secretary for Financial Institutions may delegate his or her authorities to other Treasury officials as necessary for the purpose of assisting in implementation of this order.
- The Assistant Secretary for Financial Institutions, in exercising the authority delegated by this order pursuant to sections 101 and 102 of the Act, shall consult with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Comptroller of the Currency, the Secretary of Housing and Urban Development and the Chairman of the National Credit Union Administration Board.
- PARTIAL TERMINATION OF DELEGATION. Certain of the Secretary’s authorities under the Act are subject to statutory expiration dates. Delegations under this order that are based on such provisions of the statute will expire concurrently with the underlying statutory authority.
- Emergency Economic Stabilization Act of 2008, Pub. L. 110-343.
- 31 USC 321(b).
- CANCELLATION. Treasury Order 103-08, “Establishment and Delegation of Authority for the Troubled Asset Relief Program and Related Functions pursuant to the Emergency Economic Stabilization Act of 2008,” dated January 16, 2009, is superseded.
- OFFICE OF PRIMARY INTEREST. Office of the Assistant Secretary for Financial Institutions, Office of the Under Secretary for Domestic Finance.
Steven T. Mnuchin
Secretary of the Treasury