A bill to amend the Federal Financing Bank Act of 1973 with respect to the budget treatment of the Federal Financing Bank.

Summary

Amends the Federal Financing Bank Act of 1973 to require amounts of loans guaranteed by a Federal agency which are financed by the Federal Financing Bank to be included in the unified budget as outlays of such agency. Treats all receipts and disbursements of the Bank with respect to any obligation which is issued, sold, or guaranteed by a Federal agency as a means of financing such agency for the purposes of the unified budget. Declares that in the case of any off-budget agency, the unified budget shall include for such agency its receipts from, and disbursements to, the bank. Prohibits a Federal agency (other than the Department of the Treasury) from issuing, selling, or guaranteeing any investment security obligations unless such obligation is offered for sale to the Bank. Requires the Bank to purchase any such investment security offered. Exempts any investment security obligation from such requirements if: (1) it is issued, sold, or guaranteed under a program under which investment security obligations were issued, sold, or guaranteed during FY 1982; and (2) at least 20 percent of the financing for such program during such year was through the Bank.

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Documents

1 official file

• Introduced in House

  summary · EN · 30 June 1983

  Open at official source

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