Federal Financing Bank in the United States
Federal Financing Bank (FFB) in the Federal Budget Process
Meaning of Federal Financing Bank in the congressional and executive budget processes (GAO source): A government corporation created by the Federal Financing Bank Act of 1973 under the general supervision of the Secretary of the Treasury. FFB was established to
(1) finance federal and federally assisted borrowings in ways that least disrupt private markets, (2) coordinate such borrowing programs with the government’s overall fiscal policy, and (3) reduce the costs of such borrowing from the public.
FFB provides financial assistance to or on behalf of federal agencies by (1) making direct loans to federal agencies to help them fund their programs, (2) purchasing loan assets from federal agencies, and (3) making direct loans to nonfederal borrowers (including foreign governments) that are secured by federal agency guarantees against risk of default by borrowers on loan principal and interest payments. FFB obtains funds by borrowing from the Department of the Treasury. For more information, see www.treas.gov/ffb/.
Federal Financing Bank
In Legislation
Federal Financing Bank in the U.S. Code: Title 12, Chapter 24
The current, permanent, in-force federal laws regulating federal financing bank are compiled in the United States Code under Title 12, Chapter 24. It constitutes “prima facie” evidence of statutes relating to Banking Law (including federal financing bank) of the United States. The readers can further narrow their legal research on the topic by chapter and subchapter.
Resources
See Also
- Federal Appropriations
- Entries about the United States Budget Process in the Encyclopedia (including Federal Financing Bank )
- Public Debt
Further Reading
- Legislatures and the budget process: the myth of fiscal control
(J Wehner, 2010)
- Reconcilable Differences?: Congress, the Budget Process, and the Deficit (JB Gilmour, 1990)
- Fiscal institutions and fiscal performance
(JM Poterba, J von Hagen, 2008)
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