Profiles of Existing Government Corporations - US Government ...

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NANR: Federal Financing Bank (FFB)
PVRPOSE: FFB a##ure# coordination of federal and federally
assisted borrowing program8 with the overall l cono8ic and fiscal
policies of the government, and ahhurea that borrowing are
financhd in a manner lea@+ diSNptiV8 of private financial
market8 and institutions. To reduce borrowing cohth, FFB is
authorized to make co88itm8ntS to purchase and sell, on terms and
COnditfOnS determined by the bank, any obligation which is
issued, sold, or guaranteed by a federal agency.
LEGAL mTNoRITY: 12 'J.S.C. 2281-2296
DATE CREATSD: December 29, 1973
LEGISLATED TEPJIINATION DATE: Succe88ion until dissolved by an
act of Congress.
LEGAL STATVS: Corporate instrumentality of the U.S. governsant
AGENCY STATVS: None specified in the enabling legislation
BDARDOPDIREC1DT(S: The Board con8i8t8 of five 8emberar all
appointed by the President. The Secretary of the Trea8Ur-f Shall
be Board chairman. Th8 other four member8 are appointed by the
Pr88ident from among the officers or l mploy8ea of the Bank or of
any federal agency.
ADVISORY BOARD BmfBxRs: None SpOCified in enabling legislation.
PARm?TAGE2xr: None Specified in enabling legi81atiOn.a
AFFILIATED AGZNCIES: Behid. PFB’a dealing8 vith the Treasury
Departm8nt, FFB ha8 continuing relation8 with various other
government agencies and corporation8 which use FFB’a credit
facilities.
BVIXZILT STARJS: Pursuant to Section 214 of the Balanced Budget '_
and Emergency Deficit Control Act of 1985 (P.L. 99-177) all
receipt8 and diSbUrSe8OntS of the Federal Financing Bank with
re#DeCt t0 anv Oblio8tiOnS which are iSSUed. sold. or ouaranteed
by h Federal ~gOnCy~#hall be treated as a nianamoi financing such
agency. FFB receipt8 and diSbUrSeBent are included in the budget
total8 Of SUCh agancy. Agency guarantee8 disbursed by FFB are
counted as direct loans of the agency.