§661e — Title 2 The Congress | U.S. Code

Summary

Certain federal credit and insurance programs are excluded: FDIC, NCUA, RTC, PBGC, national flood and crop insurance, the National Insurance Development Fund, and the Tennessee Valley Authority. OMB and CBO must each study whether deposit-insurance accounting should use the same cash basis as loan guarantees or a different method, report to President and Congress by May 31, 1991, and be given any agency data needed for the studies.

Title 2, §661e

The Congress — Source: USLM XML via OLRC

(a)This subchapter shall not apply to the credit or insurance activities of the Federal Deposit Insurance Corporation, National Credit Union Administration, Resolution Trust Corporation, Pension Benefit Guaranty Corporation, National Flood Insurance, National Insurance Development Fund, Crop Insurance, or Tennessee Valley Authority.

(b)The Director and the Director of the Congressional Budget Office shall each study whether the accounting for Federal deposit insurance programs should be on a cash basis on the same basis as loan guarantees, or on a different basis. Each Director shall report findings and recommendations to the President and the Congress on or before May 31, 1991.

(c)For the purposes of subsection (b), the Office of Management and Budget and the Congressional Budget Office shall have access to all agency data that may facilitate these studies.

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

A prior section 506 of Pub. L. 93–344, title V, July 12, 1974, 88 Stat. 322, amended section 105 of Title 1, General Provisions, and enacted provisions set out as a note under section 105 of Title 1, prior to the general revision of title V of Pub. L. 93–344 by Pub. L. 101–508.

Amendments

1997—Pub. L. 105–33 struck out subsec. (a) designation and heading, redesignated pars. (1) to (3) of former subsec. (a) as subsecs. (a) to (c), respectively, inserted subsec. headings, and substituted “subsection (b)” for “paragraph (2)” in subsec. (c).

§661e Treatment of deposit insurance and agencies and other insurance programs