---
title: "Treasury Definition and Role | Model Diplomat"
description: "The Treasury manages a government's revenue, expenditure, and debt. Discover its significance, especially in the U.S. since 1789."
url: "https://modeldiplomat.com/learn/glossary/treasury"
---

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Model Diplomat Research Team · Last reviewed June 22, 2026

TL;DR

- The Treasury is the executive department or fund that manages a government's revenue, expenditure, public debt, and currency, with the U.
- S.
- What is the difference between the Treasury and the Federal Reserve?
- Which Treasury bureau administers U.S. economic sanctions?
- What is the Indian equivalent of the U.S. Treasury concept?

[Civil Service & Diplomatic Exams](https://modeldiplomat.com/learn/civil-services/glossary)Updated June 22, 2026

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In February 2022 the U.S. Treasury's OFAC, under Secretary Janet Yellen, froze the foreign-exchange reserves of Russia's central bank held in U.S. jurisdiction in response to the invasion of Ukraine.

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