View all text of Subchapter III [§ 661 - § 661f]
§ 661d. Authorizations
(a) Authorization of appropriations for costs
(b) Authorization for financing accounts
(c) Treasury transactions with financing accounts
(d) Authorization for liquidating accounts
(1) Amounts in liquidating accounts shall be available only for payments resulting from direct loan obligations or loan guarantee commitments made prior to October 1, 1991, for—
(A) interest payments and principal repayments to the Treasury or the Federal Financing Bank for amounts borrowed;
(B) disbursements of loans;
(C) default and other guarantee claim payments;
(D) interest supplement payments;
(E) payments for the costs of foreclosing, managing, and selling collateral that are capitalized or routinely deducted from the proceeds of sales;
(F) payments to financing accounts when required for modifications;
(G) administrative expenses, if—
(i) amounts credited to the liquidating account would have been available for administrative expenses under a provision of law in effect prior to October 1, 1991; and
(ii) no direct loan obligation or loan guarantee commitment has been made, or any modification of a direct loan or loan guarantee has been made, since September 30, 1991; or
(H) such other payments as are necessary for the liquidation of such direct loan obligations and loan guarantee commitments.
(2) Amounts credited to liquidating accounts in any year shall be available only for payments required in that year. Any unobligated balances in liquidating accounts at the end of a fiscal year shall be transferred to miscellaneous receipts as soon as practicable after the end of the fiscal year.
(3) If funds in liquidating accounts are insufficient to satisfy obligations and commitments of such accounts, there is hereby provided permanent, indefinite authority to make any payments required to be made on such obligations and commitments.
(e) Authorization of appropriations for implementation expenses
(f) Reinsurance
(g) Eligibility and assistance
(Pub. L. 93–344, title V, § 505, as added Pub. L. 101–508, title XIII, § 13201(a), Nov. 5, 1990, 104 Stat. 1388–613; amended Pub. L. 105–33, title X, § 10117(c), Aug. 5, 1997, 111 Stat. 694; Pub. L. 113–67, div. A, title I, § 122(15), Dec. 26, 2013, 127 Stat. 1176.)