treasury - Examples of Treasuries

In business and accounting, the function of managing finance, especially its provision and use. It includes the provision of capital, borrowing, the short-term deposit of surplus funds, and foreign exchange dealing. In UK government terms, the Treasury is the name of the department responsible for managing the nation's finances, headed by the Chancellor of the Exchequer, who is responsible to the prime minister (the First Lord of the Treasury). It operates through the central bank to manage the government's monetary policy. In the USA, it is known as the Department of Treasury, and elsewhere usually as the Ministry of Finance.

For the U.S. government securities, see Treasury security.

The term treasury refers to a place in which treasure is kept.

The term Treasury was first used in classical times to describe the votive buildings erected to house gifts to the gods, such as the Siphnian Treasury in Delphi or the many buildings put up in Olympia, Greece by competing city-states, to impress one another during the Ancient Olympic Games.

The head of a Treasury is typically known as a Treasurer.

Examples of Treasuries

In the United States, the Treasurer reports to an executive-appointed Secretary of the Treasury.

In the United Kingdom, Her Majesty's Treasury is overseen by the Chancellor of the Exchequer. The traditional honorary title of First Lord of the Treasury is held by the Prime Minister.

In many other countries, the treasury is called the Ministry of Finance and the head is known as the Finance Minister.