From the Congressional Glossary – Including Legislative and Budget Terms
Federal Financing Bank (FFB)
photo credit: Alun SaltThe Federal Financing Bank (FFB) is a government corporation, created by Congress in the Federal Financing Bank Act of 1973 (12 U.S.C. 2281 et seq.), under the general supervision of the Secretary of the Treasury (31 U.S.C. 305).
The FFB was established to centralize and reduce the cost of federal borrowing, as well as federally-assisted borrowing from the public. The FFB was also established to deal with federal budget management issues that occurred when off-budget financing flooded the government securities market with offers of a variety of government-backed securities that were competing with Treasury securities. The FFB has statutory authority to purchase any obligation issued, sold, or guaranteed by a federal agency.
More
- “Budget Treatment of the Federal Financing Bank,” Statement of Harry S. Havens, Director, Program Analysis Division, U.S. General Accounting Office (GAO), July 19, 1977 (7-page PDF
) - “The Federal Government Faces Continuing Financial Management and Long-Term Fiscal Challenges,” GAO-12-444T, Mar 1, 2012
- “‘Extraordinary Measures’ and the Debt Limit,” CRS Insight IN10837 (6-page PDF)
- “Federal Government Corporations: An Overview,” CRS Report RL30365 (21-page PDF)
- “The Debt Limit Since 2011,” CRS Report R43389 (44-page PDF)
- “Small Business Administration (SBA) Funding: Overview and Recent Trends,” CRS Report R43846 (57-page PDF)
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