Title 12 — Banks and BankingRelease 119-73

§5228 Funding

Title 12 › Chapter CHAPTER 52— - EMERGENCY ECONOMIC STABILIZATION › Subchapter SUBCHAPTER I— - TROUBLED ASSETS RELIEF PROGRAM › § 5228

Last updated Apr 6, 2026|Official source

Summary

The Secretary may use proceeds from securities under chapter 31 of title 31 to carry out this chapter and pay administrative costs. Funds spent or obligated for those actions are deemed appropriated when spent or obligated.

Full Legal Text

Title 12, §5228

Banks and Banking — Source: USLM XML via OLRC

For the purpose of the authorities granted in this chapter, and for the costs of administering those authorities, the Secretary may use the proceeds of the sale of any securities issued under chapter 31 of title 31, and the purposes for which securities may be issued under chapter 31 of title 31 are extended to include actions authorized by this chapter, including the payment of administrative expenses. Any funds expended or obligated by the Secretary for actions authorized by this chapter, including the payment of administrative expenses, shall be deemed appropriated at the time of such expenditure or obligation.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

References in Text

This chapter, referred to in text, was in the original “this Act” and was translated as reading “this division”, meaning div. A of Pub. L. 110–343, Oct. 3, 2008, 122 Stat. 3765, known as the Emergency Economic Stabilization Act of 2008, to reflect the probable intent of Congress. For complete classification of division A to the Code, see

Short Title

note set out under section 5201 of this title and Tables.

Reference

Citations & Metadata

Citation

12 U.S.C. § 5228

Title 12 — Banks and Banking

Last Updated

Apr 6, 2026

Release point: 119-73