Federal Financing Bank

Federal Financing Bank
Agency overview
Formed	1973
Headquarters	Treasury Building; Washington, D.C.
Employees	17
Agency executive	Gary H. Burner, Chief Financial Officer;
Parent agency	Department of the Treasury
Website	http://www.treasury.gov/ffb/

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.^[1] 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 2010^[update] it has assets of $61.6bn with a net position of $3.8bn.^[2] In August 2013, its debts totalled $73.1 billion.^[3]

Notes

^ Federal Financing Bank Act of 1973 (12 USC 2281, the Act)
^ FFB Financial Statement year end September 2010 - Federal Financing Bank, 10 Nov 2010
^ Federal Financing Bank Press Release

References

"Federal Financing Bank". AllGov: Everything Our Government Really Does. Allgov.com. Retrieved 2010-09-04.
"Facts on the Federal Financing Bank" (PDF). CQToday, May 19, 2008. CQ-Roll Call Group. Retrieved 2010-09-04.
Financial Statements (With Independent Auditors’ Report Thereon), September 30, 2009 and 2008. (PDF), retrieved 2010-09-04

External links

Official website

[act-1] Federal Financing Bank Act of 1973 (12 USC 2281, the Act)

[2] FFB Financial Statement year end September 2010 - Federal Financing Bank, 10 Nov 2010

[3] Federal Financing Bank Press Release

[1]

[2]

[3]

v t e United States Department of the Treasury
Headquarters: Treasury Building and Freedman's Bank Building Janet Yellen, Secretary of the Treasury Wally Adeyemo, Deputy Secretary of the Treasury
Deputy Secretary of the Treasury	Alcohol and Tobacco Tax and Trade Bureau Community Development Financial Institutions Fund Internal Revenue Service Treasury Inspector General for Tax Administration Office of Inspector General Office of the Comptroller of the Currency Office of Tax Policy
Under Secretary of the Treasury for International Affairs	Office of East Asia Office of South and Southeast Asia Nations Office of Europe & Eurasia Office of the Western Hemisphere Office of International Monetary Policy Office of Banking and Securities Office of International Debt Policy Office of Development Policy Office of Financing Operations Office of African Nations Office of the Middle East and North Africa Office of International Trade Office of International Investment Office of Trade Finance Office of Technical Assistance Office of Risk and Research Analysis Exchange Stabilization Fund
Under Secretary of the Treasury for Domestic Finance	Advanced Counterfeit Deterrence Federal Financing Bank Office of Debt Management Office of Financial Institutions Office of Financial Markets Office of Financial Stability Office of Fiscal Service Bureau of the Fiscal Service
Under Secretary of the Treasury for Terrorism and Financial Intelligence	Office of Terrorism and Financial Intelligence Office of Terrorist Financing and Financial Crimes Office of Intelligence and Analysis Office of Foreign Assets Control Financial Crimes Enforcement Network Treasury Executive Office for Asset Forfeiture
Treasurer of the United States	Bureau of Engraving and Printing United States Mint

See also

Notes

References

External links