Abstract

In this paper, the author aims at providing a comparative and historical view of the issue of the development of the treasury institute as one of the supporting pillars of the public finance system. To that end, a review of the genesis of this institution in the most significant comparative systems and the domestic legal area is presented. Treasury business does not mean exclusively executing orders from the Central Bank, but it is necessary to differentiate as many functions as the budget execution process requires. Traditional vaults had predominantly a cashiering and control function, so that, later on, the banking function, which implies the independence or great autonomy of the vault, would became significantly more visible. In contemporary conditions, we can see it as a parabanking institution.

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