Federal Financing Bank: Difference between revisions

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{{Short description|United States government corporation}}
{{Organization
{{Organization  
|OrganizationName=Federal Financing Bank
|OrganizationName= Federal Financing Bank
|OrganizationType=Government Corporations
|OrganizationType= Government Corporations
|Mission=To reduce the costs of federal borrowing, coordinate federal borrowing programs with fiscal policy, and finance federal and federally assisted borrowings in a manner that least disrupts private markets.
|Mission= To reduce the costs of federal borrowing, coordinate federal borrowing programs with fiscal policy, and finance federal and federally assisted borrowings in a manner that least disrupts private markets.
|ParentOrganization=U.S. Department of the Treasury
|OrganizationExecutive= Director
|CreationLegislation=Federal Financing Bank Act of 1973
|Employees= 50
|Employees=50
|Budget= Operates through borrowing from the U.S. Treasury; no separate budget figure available
|Budget=Operates through borrowing from the U.S. Treasury; no separate budget figure available
|OrganizationExecutive=Director
|Services=Financing federal agencies; purchasing obligations issued, sold, or guaranteed by federal agencies
|HeadquartersLocation=38.89761, -77.03435
|HeadquartersAddress=1500 Pennsylvania Avenue NW, Washington, DC 20220
|Website=https://ffb.treasury.gov
|Website=https://ffb.treasury.gov
|Services= Financing federal agencies; purchasing obligations issued, sold, or guaranteed by federal agencies
|ParentOrganization= U.S. Department of the Treasury
|CreationLegislation= Federal Financing Bank Act of 1973
|Regulations=
|HeadquartersLocation= 38.893803, -77.027712
|HeadquartersAddress= 1500 Pennsylvania Avenue NW, Washington, DC 20220
}}
}}
{{Short description|United States government corporation}}
{{Infobox government agency
{{Infobox government agency
|agency_name    = Federal Financing Bank
|agency_name    = Federal Financing Bank

Revision as of 01:10, 9 January 2025

Stored: Federal Financing Bank

Federal Financing Bank
Type: Government Corporations
Parent organization: U.S. Department of the Treasury
Top organization:
Employees: 50
Executive: Director
Budget: Operates through borrowing from the U.S. Treasury; no separate budget figure available
Address: 1500 Pennsylvania Avenue NW, Washington, DC 20220
Website: https://ffb.treasury.gov
Creation Legislation: Federal Financing Bank Act of 1973
Wikipedia: Federal Financing BankWikipedia Logo.png
Federal Financing Bank
This map created from a Cargo query (Purge)
Mission
To reduce the costs of federal borrowing, coordinate federal borrowing programs with fiscal policy, and finance federal and federally assisted borrowings in a manner that least disrupts private markets.
Services

Financing federal agencies; purchasing obligations issued, sold, or guaranteed by federal agencies

Regulations
Federal Financing Bank
File:US-FederalFinanceBank-Seal.jpg
Agency Overview
Formed December 29, 1973 (1973-12-29)[1]
Headquarters Treasury Building
Washington, D.C.
Employees 27
Agency Executive Christopher L. Tuttle, Director/Chief Financial Officer
Parent department Department of the Treasury
Website
ffb.treasury.gov

The Federal Financing Bank (FFB) is a United States government corporation created by Congress in 1973 under the general supervision of the Secretary of the Treasury.[2] 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 which 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. Today the FFB has statutory authority to purchase any obligation issued, sold, or guaranteed by a federal agency to ensure that fully guaranteed obligations are financed efficiently.

As of September 2022[update], the FFB had $85.7 billion in assets and $79.1 billion in liabilities, for a net position of $6.5 billion.[3]

See also

Notes

  1. ↑ "Public Law 93-224". United States Congress. December 29, 1973.
  2. ↑ Federal Financing Bank Act of 1973 (12 U.S.C. § 2281).
  3. ↑ Federal Financing Bank Financial Statements September 30, 2022 and 2021 (With Independent Auditors' Reports Thereon". Federal Financing Bank. November 10, 2022.

References

External links

v · d · e
United States Department of the Treasury
* Headquarters: Treasury Building and Freedman's Bank Building
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of the Treasury		File:Seal of the United States Department of the Treasury.svg
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