4. Field engineering and monitoring.-Field employees inspect radio stations; administer operator examinations; collect engineering data; monitor the spectrum; and determine the location of lost ships, lost aircraft, and illegal sources of radio emission. 5. Common carrier.-The Commission regulates the rates and practices of telephone, telegraph, and cable companies and considers proposed mergers and acquisitions of properties, extensions and reductions in service, construction of facilities and applications to use radio in communication services. 6. Executive, staff, and service. This includes the top policy and decision making function as well as the staff services to the program activities. 7. Ultra-high frequency television. A comprehensive study of ultra-high frequency television transmission and reception will be completed in 1963. The study will provide technical information essential to the resolution of television channel allocation problems. Object Classification (in thousands of dollars) ALLOCATIONS RECEIVED FROM OTHER ACCOUNTS Note. Obligations incurred under allocations from other accounts are included in Office of Emergency Planning, "Emergency preparedness functions of Federal agencies." Intragovernmental funds: ADVANCES AND REIMBURSEMENTS FEDERAL DEPOSIT INSURANCE CORPORATION | fees charged against and collected from the institutions examined. General and special funds: As Public Law 87-141, approved August 17, 1961, provides that expenses of any functions of supervision (except of Federal home loan banks) vested in or exercisable by the Board shall be considered as nonadministrative expenses. The administrative expenses of the Federal Home Loan Bank Board are paid from assessments against the 11 Federal home loan banks, the office of examinations and the Federal Savings and Loan Insurance Corporation. The expenses of the office of supervision are paid from assessments against the 11 Federal home loan banks and the Federal Savings and Loan Insurance Corporation. Public enterprise funds: FEDERAL HOME LOAN BANK BOARD REVOLVING FUND The Corporation insures accounts of depositors in insured banks up to $10 thousand for each depositor. of June 30, 1962, the deposit insurance fund for the protection of depositors amounted to $2.43 billion or approximately 1.45% of all insured deposits on that date. Total insured deposits at the end of 1961 and 1962, estimated on the basis of information furnished as of June 30, 1961, and June 30, 1962, amounted to $152.8 billion and $167 billion, respectively. It is estimated that total insured deposits as of June 30, 1963 and 1964 will amount to $176 billion and $186 billion, respectively. No tax funds are used in its operations. Its expenses are paid and the fund is accumulated from assessments paid by insured banks and from income on investments in obligations of the Treasury. However, the Corporation is authorized to borrow from the Treasury, and the Secretary of the Treasury is authorized and directed to loan to the Corporation on such terms as may be fixed by the Corporation Financing: and the Secretary, not to exceed $3 billion outstanding at any one time, as required for insurance purposes. borrowings under this authorization have been made to date and none are anticipated in 1963 or 1964. CORPORATIONS Νο The following corporations and agencies, respectively, are hereby authorized to make such expenditures, within the limits of funds and borrowing authority available to each such corporation or agency and in accord with law, and to make such contracts and commitments without regard to fiscal year limitations as provided by section 104 of the Government Corporation Control Act, as amended, as may be necessary in carrying out the programs set forth in the Budget for the current fiscal year for each such corporation or agency, except as hereinafter provided: (Independent Offices Appropriation Act, 1963.) FEDERAL HOME LOAN BANK BOARD The Federal Home Loan Bank Board formulates policies and supervises the operations of the 11 Federal home loan banks, the system of Federal savings and loan associations and the Federal Savings and Loan Insurance Corporation; it is also responsible for the examination and supervision of all State-chartered institutions insured by the Federal Savings and Loan Insurance Corporation. The expenditure programs of the Federal Home Loan Bank Board and the Federal Savings and Loan Insurance Corporation are presented as business-type budgets. Section 2 of Public Law 895, approved July 3, 1948, provides that all expenses of the office of examinations, Federal Home Loan Bank Board, shall be considered nonadministrative; all of its expenses are defrayed from Program by activities: Operating costs, funded: Administrative expense subject to limita- Nonadministrative expense subject to lim itation... Credit allowed on prior-year assessments... Other expense Total operating costs, funded.. Total obligations..... Revenues and other receipts: 9,672 Assessments for services and facilities: Budget program.-The Board's budget is based on six activities. 1. Examination and supervision of Federal home loan banks. The Board supervises and examines the operations of the Federal home loan banks. 2. Supervision of Federal and State-chartered institutions.-The financial condition and operations of each insured institution is analyzed and corrective action is instituted when warranted. Supervision of insured institutions operating under State charter is carried on, cooperatively, under arrangements made with the respective State authorities. 3. Chartering savings and loan associations.-Federal savings and loan associations are chartered and regulated. In addition, applications of State-chartered associations for conversion into Federal savings and loan associations are examined. 4. Examining savings and loan associations.-Supervisory examinations are made of Federal savings and loan associations, State-chartered associations insured by the Federal Savings and Loan Insurance Corporation, and such uninsured member institutions of the Federal home loan bank system as are not examined by State examiners. Audits are also made of approximately 60 percent of all insured institutions in conjunction with supervisory examinations. Examinations are also made of institutions applying for insurance of accounts and for conversion from a State to a Federal charter when required by the Board. The costs of examinations and audits are assessed against the institutions examined. 5. Executive direction and staff services.-This includes formulation of basic policy and the furnishing of staff services that are common to the Board and the Insurance Corporation. 6. Administrative services.-These consist of auditing; accounting; budgetary and financial reporting; internal budget control; fiscal organization and management; and general housekeeping and common operating services, including printing and reproduction work. The amounts shown in the schedules for the above activities include administrative expenses under annual limitation; nonadministrative expenses under a separate limitation; and certain additional expenses not under limitation. Administrative expenses are estimated to increase from $2,075 thousand to $2,470 thousand reflecting staff increases and related costs to meet increasing workload. Nonadministrative expenses covering the expenses of examining savings and loan associations are discussed separately below. Act, as amended, shall be considered as nonadministrative expenses for the purposes hereof: Provided further, That members and alternates of the Federal Savings and Loan Advisory Council shall be entitled to reimbursment from the Board as approved by the Board for transportation expenses incurred in attendance at meetings of or concerned with the work of such Council and may be paid not to exceed $25 per diem in lieu of subsistence: Provided further, That expenses of any functions of supervision (except of Federal homeloan banks) vested in or exercisable by the Board shall be considered as nonadministrative expenses: Provided further, That not to exceed $1,000 shall be available for official reception and representation expenses: Provided further, That, notwithstanding any other provisions of this Act, except for the limitation in amount hereinbefore specified, the administrative expenses and other obligations of the Board shall be incurred, allowed, and paid in accordance with the provisions of the Federal Home Loan Bank Act of July 22, 1932, as amended (12 U.S.C. 1421-1449): Provided further, That the nonadministrative expenses (except those included in the first proviso hereof) for the supervision and examination of Federal and State chartered institutions (other than special examinations determined by the Board to be necessary) shall not exceed [$11,500,000] $12,934,000. (Independent Offices Appropriation Act, 1963.) Program and Financing (in thousands of dollars) ON ADMINISTRATIVE LIMITATION AND NONADMINISTRATIVE Not to exceed a total of [$2,037,500 $2,470,000 shall be available Total number of permanent positions... Positions other than permanent.. 3 5 Other personnel compensation... 20 16 Add excess of annual leave earned over The office of examinations under the general direction of the manager of the division conducts regular periodic and special supervisory examinations of all Federal savings and loan associations, of insured State-chartered savings and loan associations, other institutions of the savings and loan type which are insured by the Federal Savings and Loan Insurance Corporation, and of noninsured member institutions of the Federal home loan bank system not subject to State supervision. The office also examines and analyzes the financial condition of institutions which apply for membership in the system, for insurance of accounts, or for conversion from a State to a Federal charter. The institutions examined bear the costs of examination, and the fees charged therefor are calculated to defray all of the operating expenses of the office. The office of supervision, under the general direction of the manager of the division, is responsible for the supervision of institutions insured by the Federal Savings and Loan Insurance Corporation. The purpose of such supervision is to prevent the development and continuance of unsafe and unsound financial practices in these institutions and the correction of such practices where found. In carrying out the supervisory function, the office reviews and analyzes the examination reports prepared by the office of examinations. The following table reflects the work of the division: Personnel Summary—Nonadministrative Expenses Total number of permanent positions.. Financing: 912 994 1,002 INVESTMENT IN FEDERAL HOME LOAN BANKS Program and Financing (in thousands of dollars) Unobligated balance brought forward (authorization to expend from public debt receipts).. Unobligated balance carried forward (authorization to expend from public debt receipts) (−)------ Financing applied to program.... The Federal home loan banks, together with the building and loan associations and similar institutions which are members of the banks, constitute the Federal home loan bank system and are designed to stabilize and strengthen institutions promoting private thrift and individual home ownership. The 11 Federal home loan banks obtain their funds from capital stock, issuance of their own obligations, and deposits of member institutions. The capital stock of the banks consists entirely of subscriptions of member institutions. Authority to borrow from the Treasury in the amount of $1 billion is provided in 12 U.S.C. 1431 (64 Stat. 257). No borrowings have been made to date and none is anticipated in 1964. FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION FUND Program and Financing (in thousands of dollars) 11 Personnel compensation: Permanent positions.... Other personnel compensation.. Add excess of annual leave earned over leave taken... 83 220 1. Administrative expenses subject to limitation (enacted). Proposed increase in limitation due to pay increases.. |