Federal Financing Bank Act of 1973

[AI summary unavailable — showing source text] Federal Financing Bank Act - Creates a body corporate to be known as the Federal Financing Bank which shall be subject to the general supervision and direction of the Secretary of the Treasury. Provides that the Bank shall have a Board of Directors consisting of five persons, one of whom shall be the Secretary as Chairman of the Board, and four of whom shall be appointed by the President from among the officers or employees of the Bank or of any department or agency of the Government. Authorizes the Bank to make commitments to purchase and sell, and to purchase and sell on terms and conditions determined by the Bank, any obligation which is issued, sold, or guaranteed by a Federal agency. Provides that any Federal agency is authorized to issue or sell such obligations directly to the Bank. Authorizes the Bank to charge fees for its commitments and other services adequate to cover all expenses and to provide for the accumulation of reasonable contingency reserves. Authorizes the Secretary to advance the funds necessary to provide initial capital to the Bank. Authorizes to be appropriated not to exceed $100,000,000 which shall be available for the purposes of this Act without fiscal …