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12 U.S.C. § 5234 — Credit reform

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 5234 — Credit reform

**(a) In general** Subject to subsection (b), the costs of purchases of troubled assets made under [section 5211(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5211/a&num=0&edition=prelim) and guarantees of troubled assets under [section 5212 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5212&num=0&edition=prelim), and any cash flows associated with the activities authorized in [section 5212 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5212&num=0&edition=prelim) and subsections (a), (b), and (c) of [section 5216 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5216&num=0&edition=prelim) shall be determined as provided under the Federal Credit Reform Act of 1990 ([2 U.S.C. 661](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661&num=0&edition=prelim) et.11 So in original. seq.). **(b) Costs** For the purposes of section 502(5) of the Federal Credit Reform Act of 1990 ([2 U.S.C. 661a(5)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661a/5&num=0&edition=prelim))— (1) the cost of troubled assets and guarantees of troubled assets shall be calculated by adjusting the discount rate in section 502(5)(E) ([2 U.S.C. 661a(5)(E)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661a/5/E&num=0&edition=prelim)) for market risks; and (2) the cost of a modification of a troubled asset or guarantee of a troubled asset shall be the difference between the current estimate consistent with paragraph (1) under the terms of the troubled asset or guarantee of the troubled asset and the current estimate consistent with paragraph (1)

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Source location: Title 12, Chapter 52, § 5234; chapter-052-emergency-economic-stabilization.md

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Federal law — U.S. Code and appendices · legal_authorities

2 U.S.C. § 661 — Provisions relating to House of Representatives

**(a) Enforcement in House of Representatives** It shall not be in order in the House of Representatives to consider a rule or order that waives the application of [section 658d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section658d&num=0&edition=prelim). **(b) Disposition of points of order** (1) **Application to House of Representatives** — This subsection shall apply only to the House of Representatives. (2) **Threshold burden** — In order to be cognizable by the Chair, a point of order under [section 658d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section658d&num=0&edition=prelim) or subsection (a) of this section must specify the precise language on which it is premised. (3) **Question of consideration** — As disposition of points of order under [section 658d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section658d&num=0&edition=prelim) or subsection (a) of this section, the Chair shall put the question of consideration with respect to the proposition that is the subject of the points of order. (4) **Debate and intervening motions** — A question of consideration under this section shall be debatable for 10 minutes by each Member initiating a point of order and for 10 minutes by an opponent on each point of order, but shall otherwise be decided without intervening motion except one that the House adjourn or that the Committee of the Whole rise, as the case may be. (5) **Effect on amendment in order as original text** — The disposition of the question of consideration under this subsection with respect to a bill or joint resolution shall be considered also to determine the question of consideration under this subsection with respect to an amendm

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 5212 — Definitions

For purposes of this chapter, the following definitions shall apply: (1) **Appropriate committees of Congress** — The term “appropriate committees of Congress” means— (A) the Committee on Banking, Housing, and Urban Affairs, the Committee on Finance, the Committee on the Budget, and the Committee on Appropriations of the Senate; and (B) the Committee on Financial Services, the Committee on Ways and Means, the Committee on the Budget, and the Committee on Appropriations of the House of Representatives. (2) **Board** — The term “Board” means the Board of Governors of the Federal Reserve System. (3) **Congressional support agencies** — The term “congressional support agencies” means the Congressional Budget Office and the Joint Committee on Taxation. (4) **Corporation** — The term “Corporation” means the Federal Deposit Insurance Corporation. (5) **Financial institution** — The term “financial institution” means any institution, including, but not limited to, any bank, savings association, credit union, security broker or dealer, or insurance company, established and regulated under the laws of the United States or any State, territory, or possession of the United States, the District of Columbia, Commonwealth of Puerto Rico, Commonwealth of Northern Mariana Islands, Guam, American Samoa, or the United States Virgin Islands, and having significant operations in the United States, but excluding any central bank of, or institution owned by, a foreign government. (6) **Fund** — The term “Fund” means the Troubled Assets Insurance Financing Fund established under [section 5212 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5212&num=0&edition=prelim). (7) **Secretary** — The term “Secretary” means the Secretary of the Trea

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Federal law — U.S. Code and appendices · legal_authorities

2 U.S.C. § 621 — Treatment of deposit insurance and agencies and other insurance programs

**(a) In general** 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) Study** 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) Access to data** 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.

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 5216 — Financial Stability Oversight Board

**(a) Establishment** There is established the Financial Stability Oversight Board, which shall be responsible for— (1) reviewing the exercise of authority under a program developed in accordance with this chapter, including— (A) policies implemented by the Secretary and the Office of Financial Stability created under sections 5211 and 5212 of this title, including the appointment of financial agents, the designation of asset classes to be purchased, and plans for the structure of vehicles used to purchase troubled assets; and (B) the effect of such actions in assisting American families in preserving home ownership, stabilizing financial markets, and protecting taxpayers; (2) making recommendations, as appropriate, to the Secretary regarding use of the authority under this chapter; and (3) reporting any suspected fraud, misrepresentation, or malfeasance to the Special Inspector General for the Troubled Assets Relief Program or the Attorney General of the United States, consistent with [section 535(b) of title 28](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title28-section535/b&num=0&edition=prelim). **(b) Membership** The Financial Stability Oversight Board shall be comprised of— (1) the Chairman of the Board of Governors of the Federal Reserve System; (2) the Secretary; (3) the Director of the Federal Housing Finance Agency; (4) the Chairman of the Securities Exchange Commission; and (5) the Secretary of Housing and Urban Development. **(c) Chairperson** The chairperson of the Financial Stability Oversight Board shall be elected by the members of the Board from among the members other than the Secretary. **(d) Meetings** The Financial Stability Oversight Board shall meet 2 weeks after the first exercise of the purchase authority of th

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12 U.S.C. § 5234 — Cooperation with the FBI

Page 1825 TITLE 12—BANKS AND BANKING § 5235 1 So in original. (3) Obtaining official data The Oversight Panel may secure directly from any department or agency of the United States information necessary to enable it to carry out this section. Upon request of the Chairperson of the Oversight Panel, the head of that department or agency shall furnish that information to the Oversight Panel. (4) Reports The Oversight Panel shall receive and con- sider all reports required to be submitted to the Oversight Panel under this chapter. (f) Termination The Oversight Panel shall terminate 6 months after the termination date specified in section 5230 of this title. (g) Funding for expenses (1) Authorization of appropriations There is authorized to be appropriated to the Oversight Panel such sums as may be nec- essary for any fiscal year, half of which shall be derived from the applicable account of the House of Representatives, and half of which shall be derived from the contingent fund of the Senate. (2) Reimbursement of amounts An amount equal to the expenses of the Oversight Panel shall be promptly transferred by the Secretary, from time to time upon the presentment of a statement of such expenses by the Chairperson of the Oversight Panel, from funds made available to the Secretary under this chapter to the applicable fund of the House of Representatives and the contin- gent fund of the Senate, as appropriate, as re- imbursement for amounts expended from such account and fund under paragraph (1). (Pub. L. 110–343, div. A, title I, § 125, Oct. 3, 2008, 122 Stat. 3791; Pub. L. 111–22, div. A, title V, § 501, May 20, 2009, 123 Stat. 1658.) Editorial Notes REFERENCES IN TEXT This chapter and the chapter, referred to in text, were in the origina

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Federal law — U.S. Code and appendices · legal_authorities

2 U.S.C. § 661 — Purposes

Page 212 TITLE 2—THE CONGRESS § 661 1 So in original. Probably should be capitalized. pared to the authorization level for the last year in which authorization of appropriations is already provided. (Pub. L. 93–344, title IV, § 428, as added Pub. L. 104–4, title I, § 101(a)(2), Mar. 22, 1995, 109 Stat. 59.) Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective Jan. 1, 1996, or on the date 90 days after appropriations are made available as authorized under section 1516 of this title, whichever is earlier, and applicable to legislation considered on and after such date, see section 110 of Pub. L. 104–4, set out as a note under section 1511 of this title. SUBCHAPTER III—CREDIT REFORM § 661. Purposes The purposes of this subchapter are to— (1) measure more accurately the costs of Federal credit programs; (2) place the cost of credit programs on a budgetary basis equivalent to other Federal spending; (3) encourage the delivery of benefits in the form most appropriate to the needs of bene- ficiaries; and (4) improve the allocation of resources among credit programs and between credit and other spending programs. (Pub. L. 93–344, title V, § 501, as added Pub. L. 101–508, title XIII, § 13201(a), Nov. 5, 1990, 104 Stat. 1388–610.) Editorial Notes PRIOR PROVISIONS A prior section 661, Pub. L. 93–344, title VI, § 606, July 12, 1974, 88 Stat. 325, directed that Budget Committees of House and Senate study, on a continuing basis, any provisions of law which exempt agencies or programs from inclusion in the budget and make recommenda- tions from time to time with regard to terminating or modifying such provisions, prior to repeal by Pub. L. 99–177, title II, §§ 223, 275(a)(1), Dec. 12, 1985, 99 Stat. 1060, 1100, effective Dec. 12

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Federal law — U.S. Code and appendices · legal_authorities

2 U.S.C. § 661a — Requests to Congressional Budget Office from Senators

At the written request of a Senator, the Director shall, to the extent practicable, prepare an estimate of the direct costs of a Federal intergovernmental mandate contained in an amendment of such Senator.

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2 U.S.C. § 661a — Definitions

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