(a) A disbursing official of the United States Government may - (1) cash and negotiate negotiable instruments payable in United States currency or currency of a foreign country; (2) exchange United States currency, coins, and negotiable instruments and currency, coins, and negotiable instruments of foreign countries; and (3) cash checks drawn on the Treasury to accommodate United States citizens in a foreign country, but only if - (A) satisfactory banking facilities are not available in the foreign country; and (B) a check is presented by the payee who is a United States citizen. (b) A disbursing official may act under subsection (a)(1) and (2) of this section only for - (1) an official purpose; (2) personnel of the Government; (3) a dependent of personnel of the Government, but only - (A) at a United States installation at which adequate banking facilities are not available; and (B) in the case of negotiation of negotiable instruments, if the dependent's sponsor authorizes, in writing, the presentation of negotiable instruments to the disbursing official for negotiation; (4) a veteran hospitalized or living in an institution operated by an agency; (5) a contractor, or personnel of a contractor, carrying out a Government project; (6) personnel of an authorized agency not part of the Government that operates with an agency of the Government; or (7) a Federal credit union (as defined in section 101(1) of the Federal Credit Union Act (12 U.S.C. 1752(1)) (!1) that at the request of the Secretary of Defense is operating on a United States military installation in a foreign country, but only if that country does not permit contractor-operated military banking facilities to operate on such installations. (c)(1) An amount held by the disbursing official that is available for expenditure may be used to carry out subsection (a) of this section with the approval of the head of the agency having jurisdiction over the amount. (2) The head of an agency having jurisdiction over a disbursing official may offset, within the same fiscal year, a deficiency resulting from a transaction under subsection (a) of this section with a gain from a transaction under subsection (a). A gain in the account of a disbursing official not used to offset deficiencies under subsection (a) shall be deposited in the Treasury as miscellaneous receipts. (3) The amount of any deficiency resulting from cashing a check for a dependent under subsection (b)(3), including any charges assessed against the disbursing official by a financial institution for insufficient funds to pay the check, may be offset from the pay of the dependent's sponsor. (4) Amounts necessary to adjust for deficiencies in the account of a disbursing official because of transactions under subsection (a) of this section are authorized to be appropriated. (d) The Secretary of the Treasury and, with the approval of the Secretary, the head of an agency having jurisdiction over a disbursing official, may issue regulations to carry out this section.

However, under conditions the Secretary decides are necessary, the Secretary may delegate to the head of an agency the authority to issue regulations applying to a disbursing official that is an officer or employee of the agency. (e) Regulations prescribed under subsection (d) shall include regulations that define the terms "dependent" and "sponsor" for the purposes of this section.

In the regulations, the term "dependent", with respect to a member of a uniformed service, shall have the meaning given that term in section 401 of title 37. (f) With respect to automated teller machines on naval vessels, the authority of a disbursing official of the United States Government under subsection (a) also includes the following: (1) The authority to provide operating funds to the automated teller machines. (2) The authority to accept, for safekeeping, deposits and transfers of funds made through the automated teller machines.