§ 2281. — Congressional findings and declaration of purpose.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC2281]
TITLE 12--BANKS AND BANKING
CHAPTER 24--FEDERAL FINANCING BANK
Sec. 2281. Congressional findings and declaration of purpose
The Congress finds that demands for funds through Federal and
federally assisted borrowing programs are increasing faster than the
total supply of credit and that such borrowings are not adequately
coordinated with overall Federal fiscal and debt management policies.
The purpose of this chapter is to assure coordination of these programs
with the overall economic and fiscal policies of the Government, to
reduce the cost of Federal and federally assisted borrowings from the
public, and to assure that such borrowings are financed in a manner
least disruptive of private financial markets and institutions.
(Pub. L. 93-224, Sec. 2, Dec. 29, 1973, 87 Stat. 937.)
Effective Date
Section 20 of Pub. L. 93-224 provided that: ``This Act [enacting
this chapter and amending section 24 of this title] becomes effective
upon the date of its enactment [Dec. 29, 1973], except that section 7
[section 2286 of this title] becomes effective upon the expiration of
thirty days after such date [Dec. 29, 1973].''
Short Title
Section 1 of Pub. L. 93-224 provided: ``That this Act [enacting this
chapter and amending section 24 of this title] may be cited as the
`Federal Financing Bank Act of 1973'.''
Separability
Section 19 of Pub. L. 93-224 provided that: ``If any provision of
this Act [enacting this chapter and amending section 24 of this title],
or the application thereof to any person or circumstance, is held
invalid, the validity of the remainder of the Act [this chapter], and
the application of such provisions to other persons or circumstances,
shall not be affected.''
Executive Order No. 11782
Ex. Ord. No. 11782, May 6, 1974, 39 F.R. 15991, which established
the Federal Financing Bank Advisory Council and provided for its
membership, functions, etc., was revoked by Ex. Ord. No. 12379, Sec. 15,
Aug. 17, 1982, 47 F.R. 36099, set out as a note under section 14 of the
Federal Advisory Committee Act in the Appendix to Title 5, Government
Organization and Employees.
Termination of Advisory Councils
Advisory councils established after Jan. 5, 1973, to terminate not
later than the expiration of the 2-year period beginning on the date of
their establishment, unless, in the case of a council established by the
President or an officer of the Federal Government, such council is
renewed by appropriate action prior to the expiration of such 2-year
period, or in the case of a council established by the Congress, its
duration is otherwise provided for by law. See sections 3(2) and 14 of
Pub. L. 92-463, Oct. 6, 1972, 86 Stat. 770, 776, set out in the Appendix
to Title 5, Government Organization and Employees.
