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2 U.S.C. § 661e — Treatment of deposit insurance and agencies and other insurance programs

submitted 36 years ago by Pub. L. 93-344 to r/title-2-THE-CONGRESS · 138 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section excludes specified Federal insurance and credit activities from the subchapter. It requires studies and reports about accounting for Federal deposit insurance and gives OMB and CBO access to relevant data.

(a) In general. This subchapter does not apply to 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 OMB Director and CBO Director must each study whether Federal deposit-insurance programs should be accounted for on a cash basis like loan guarantees or on another basis. Each must report findings and recommendations to the President and Congress by May 31, 1991. (c) Data. For those studies, OMB and CBO must have access to agency data that may help.
the actual law source: uscode.house.gov ↗public domain
(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.

Source credit: (Pub. L. 93–344, title V, § 506, as added Pub. L. 101–508, title XIII, § 13201(a), Nov. 5, 1990, 104 Stat. 1388–614; amended Pub. L. 105–33, title X, § 10117(d), Aug. 5, 1997, 111 Stat. 695.)

history & why it existsrecord from the source credit
  • 1990Enacted · Pub. L. 93-344 · 104 Stat. 1388
  • 1997Amended · Pub. L. 105-33 · 111 Stat. 695

A history note hasn’t been published yet. The record shows enactment by Pub. L. 93-344 on 1990-11-05.

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