The Federal Financing Bank and the Debt Ceiling: Hearing Before the Subcommittee on Economic Stabilization of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, Ninety-ninth Congress, First Session, October 31, 1985 |
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$5 billion 31 of title APPENDIX I APPENDIX assets August Bank borrowing authority budget business day cash account cash balance Chairman LAFALCE Congress Congressional debt ceiling crisis debt subject disinvestment electronic fund transfer Federal Financing Bank FFB borrowing authority FFB issue Financing Bank Act fully invest Gramm-Rudman guaranteed interest rate June 30 KAPTUR letter LEVIN long-term bonds long-term securities maturity dates ment month NIEHENKE normalized tax transfer November November 15 NTT amount OAKAR OASI obligations issued October 9 operations pay benefits pay social security payroll tax revenues principal and interest procedure public debt raise cash Retirement Fund Robert Dole Secretary redeemed section 9(a securities held Security Trust Funds Senate Snyder Social Security Act social security benefits Social Security Trust special-issue statutory debt limit statutory limit subcommittee subsection 201(a tion transactions Treasury borrowing Treasury Department Treasury redeemed Treasury securities Treasury's actions uninvested United WORTLEY
Popular passages
Page 63 - Treasury to invest such portion of the amounts credited to the Account as is not, in his judgment, required to meet current withdrawals. Such investment may be made only in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States.
Page 60 - In determining pursuant to section 5(k) (2) for any fiscal year the total amount to be credited from the Railroad Retirement Account to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund...
Page 32 - States, and such guaranty shall be expressed on the face thereof ; and such bonds shall be lawful investments, and may be accepted as security, for all fiduciary, trust, and public funds, the investment or deposit of which shall be under the authority or control of the United States or any officer or officers thereof.
Page 33 - Treasury, and have outstanding at any one time obligations having such maturities and bearing such rate or rates of interest as may be determined by the corporation with the approval of the Secretary of the Treasury...
Page 3 - Act of 1959, designed to eliminate improper activities by labor or management, was passed by the Congress and signed into law by the President on September 14.
Page 57 - General in cooperation with the Secretary of the Treasury ; the Director, Office of Management and Budget ; and the Director of the Congressional Budget Office.
Page 60 - For the reasons indicated below, we conclude that, although some of the Secretary's actions appear in retrospect to have been in violation of the requirements of the Social Security Act, we cannot say the Secretary acted unreasonably given the extraordinary situation in which he was operating.
Page 59 - OASDI OLD AGE, SURVIVORS' AND DISABILITY INSURANCE OASI OLD AGE AND SURVIVORS' INSURANCE PHS PUBLIC HEALTH SERVICE Sen.
Page 30 - SEC. 9. (a) The Bank is authorized, with the approval of the Secretary of the Treasury, to issue publicly and have outstanding at any one time not in excess of $15,000,000,000, or such additional amounts as may be authorized in appropriations Acts, of obligations having such maturities and bearing such rate or rates of interest as may be determined by the Bank. Such obligations may be redeemable at the option of the Bank before maturity in such manner as...
Page 5 - Mr. Chairman and Members of the Subcommittee ; it is a pleasure to be here this morning to discuss...