The Assistant Secretary of the Treasury for Financial Stability is the head of the 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 theEmergency Economic Stabilization Act of 2008 to operate the Troubled Assets Relief Program....

 in the United States Department of the Treasury

United States Department of the Treasury

The Department of the Treasury is an executive department and the treasury of the United States federal government. It was established by an Act of Congress in 1789 to manage government revenue...

.

The position was created in 2008 by the Emergency Economic Stabilization Act of 2008

Emergency Economic Stabilization Act of 2008

The Emergency Economic Stabilization Act of 2008 The Emergency Economic Stabilization Act of 2008 The Emergency Economic Stabilization Act of 2008 (Division A of , commonly referred to as a bailout of the U.S. financial system, is a law enacted in response to the subprime mortgage crisis...

, the act that created the Office of Financial Stability to administer the Troubled Asset Relief Program.

By law, the Assistant Secretary of the Treasury for Financial Stability is appointed by the President of the United States

President of the United States

The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....

 with the advice and consent

Advice and consent

Advice and consent is an English phrase frequently used in enacting formulae of bills and in other legal or constitutional contexts, describing a situation in which the executive branch of a government enacts something previously approved of by the legislative branch.-General:The expression is...

 of the United States Senate

United States Senate

The United States Senate is the upper house of the bicameral legislature of the United States, and together with the United States House of Representatives comprises the United States Congress. The composition and powers of the Senate are established in Article One of the U.S. Constitution. Each...

. During a vacancy, the United States Secretary of the Treasury

United States Secretary of the Treasury

The Secretary of the Treasury of the United States is the head of the United States Department of the Treasury, which is concerned with financial and monetary matters, and, until 2003, also with some issues of national security and defense. This position in the Federal Government of the United...

 is authorized to appoint an Acting Assistant Secretary of the Treasury for Financial Stability.

List of Assistant Secretaries of the Treasury for Financial Stability

Name	Assumed Office	Left Office	President President of the United States The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....  Appointed By	Secretary United States Secretary of the Treasury The Secretary of the Treasury of the United States is the head of the United States Department of the Treasury, which is concerned with financial and monetary matters, and, until 2003, also with some issues of national security and defense. This position in the Federal Government of the United...  Served Under
Neel Kashkari Neel Kashkari Neel T. Kashkari was the Interim Assistant Secretary of the Treasury for Financial Stability in the United States Department of the Treasury. While in this role, he led the Office of Financial Stability, the office set up to buy troubled financial assets from U.S. financial firms under the $700...  (Acting)	October 6, 2008	May 1, 2009		Henry Paulson Henry Paulson Henry Merritt "Hank" Paulson, Jr. is an American banker who served as the 74th United States Secretary of the Treasury. He previously served as the Chairman and Chief Executive Officer of Goldman Sachs.-Early life and family:...
Herbert M. Allison Herbert M. Allison Herbert M. Allison, Jr. is currently conducting a review of loans to energy companies, on behalf of the Obama administration. Mr. Allison served as Assistant Secretary of the Treasury for Financial Stability of the United States having been confirmed by the Senate onJune 19, 2009. He left the...	June 2009	September 2010	Barack Obama Barack Obama Barack Hussein Obama II is the 44th and current President of the United States. He is the first African American to hold the office. Obama previously served as a United States Senator from Illinois, from January 2005 until he resigned following his victory in the 2008 presidential election.Born in...	Timothy Geithner
Timothy Massad (Acting)	September 2010	Present		Timothy Geithner