US Department of the Treasury

Manages federal finances by collection taxes and paying bills

Manages currency, government accounts, and public debt (US Treasury securities)

Bureaus of the Treasury:

• Bureau of Engraving and Printing (BEP)- prints US currency notes (BEP receives print orders from the Federal Reserve Board (the Fed) and the Fed distributes the currency)

  • US dollar are issued in the form of Federal Reserve Notes (aka greenbacks)

  • $100,000 note created from 1934-1935, never publicly circulated, was only issued in the form of a gold certificate, not in greenbacks

  • $10,000 note was the highest note to be circulated in public

• US Mint - produces US coins 

• Internal Revenue Services (IRS) - collects and enforces federal taxes

• Office of the Comptroller of the Currency (OCC) - regulates and supervises all national banks and federal savings associations