The Federal Financing Bank (FFB) is a United States government corporation created by Congress in 1973 under the general supervision of the Secretary of the Treasury.[2] The FFB was established to centralize and reduce the cost of federal borrowing, as well as federally assisted borrowing from the public. The FFB was also established to deal with federal budget management issues which occurred when off-budget financing flooded the government securities market with offers of a variety of government-backed securities that were competing with Treasury securities. Today the FFB has statutory authority to purchase any obligation issued, sold, or guaranteed by a federal agency to ensure that fully guaranteed obligations are financed efficiently.
As of September 2022, the FFB had $85.7 billion in assets and $79.1 billion in liabilities, for a net position of $6.5 billion.[3]
See also
Notes
- ^ "Public Law 93-224". United States Congress. December 29, 1973.
- ^ Federal Financing Bank Act of 1973 (12 U.S.C. § 2281).
- ^ Federal Financing Bank Financial Statements September 30, 2022 and 2021 (With Independent Auditors' Reports Thereon". Federal Financing Bank. November 10, 2022.
References
- "Federal Financing Bank". AllGov: Everything Our Government Really Does. Allgov.com. Retrieved September 4, 2010.
- "Facts on the Federal Financing Bank" (PDF). CQToday, May 19, 2008. CQ-Roll Call Group. Retrieved September 4, 2010.
- Financial Statements (With Independent Auditors' Report Thereon), September 30, 2009 and 2008. (PDF), retrieved September 4, 2010
External links
| Deputy Secretary of the Treasury |  | |
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| Under Secretary of the Treasury for International Affairs |
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| Under Secretary of the Treasury for Domestic Finance |
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| Under Secretary of the Treasury for Terrorism and Financial Intelligence | ||
| Treasurer of the United States | ||
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| National | |
