Department of the Treasury

Agency

Legal Definition of Department of the Treasury

federal executive division responsible for fiscal policy. It advises the president on fiscal matters, serves as fiscal agent for the government, performs certain law enforcement activities, and manufactures currency. Among its constituent agencies are the Bureau of the Fiscal Service, which borrows money for the government and manages the government's collections and deposits; the Bureau of Engraving and Printing, which issues bank notes and government security documents; the Internal Revenue Service (q.v.); the Office of the Comptroller of the Currency (OCC), which regulates national banks; the Office of Thrift Supervision (q.v.); and the U.S. Mint, which issues coinage and serves as the depository for the nation's gold bullion.

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Cite this Entry

“Department of the Treasury.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/Department%20of%20the%20Treasury. Accessed 24 Jun. 2021.

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