89–006 

111TH CONGRESS REPT. 111–387 " ! HOUSE OF REPRESENTATIVES 1st Session Part 1 

GOVERNMENT ACCOUNTABILITY OFFICE IMPROVEMENT 

ACT OF 2009 

DECEMBER 19, 2009.—Committed to the Committee of the Whole House on the State 

of the Union and ordered to be printed 

Mr. TOWNS, from the Committee on Oversight and Government 

Reform, submitted the following 

R E P O R T 

[To accompany H.R. 2646] 

[Including cost estimate of the Congressional Budget Office] 

The Committee on Oversight and Government Reform, to whom 

was referred the bill (H.R. 2646) to amend title 31, United States 

Code, to enhance the oversight authorities of the Comptroller General, and for other purposes, having considered the same, report favorably thereon with an amendment and recommend that the bill 

as amended do pass. 

CONTENTS 

Page 

Purpose and Summary ............................................................................................ 3 

Background and Need for Legislation .................................................................... 4 

Legislative History .................................................................................................. 4 

Section-by-Section .................................................................................................... 4 

Explanation of Amendments ................................................................................... 6 

Committee Consideration ........................................................................................ 7 

Rollcall Votes ............................................................................................................ 7 

Application of Law to the Legislative Branch ....................................................... 7 

Statement of Oversight Findings and Recommendations of the Committee ...... 7 

Statement of General Performance Goals and Objectives .................................... 7 

Constitutional Authority Statement ...................................................................... 7 

Federal Advisory Committee Act ............................................................................ 7 

Unfunded Mandates Statement .............................................................................. 8 

Earmark Identification ............................................................................................ 8 

Committee Estimate ................................................................................................ 8 

Budget Authority and Congressional Budget Office Cost Estimate .................... 8 

Changes in Existing Law Made by the Bill, as Reported ..................................... 9 

The amendment is as follows: 

Strike all after the enacting clause and insert the following: 


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SECTION 1. SHORT TITLE. 

This Act may be cited as the ‘‘Government Accountability Office Improvement Act 

of 2009’’. 

SEC. 2. AUTHORITY TO OBTAIN INFORMATION. 

(a) AUTHORITY TO OBTAIN RECORDS.—Section 716 of title 31, United States Code, 

is amended in subsection (a)— 

(1) by striking ‘‘(a)’’ and inserting ‘‘(2)’’; and 

(2) by inserting after the section heading the following: 

‘‘(a)(1) The Comptroller General is authorized to obtain such agency records as the 

Comptroller General requires to discharge his duties (including audit, evaluation, 

and investigative duties), including through the bringing of civil actions under this 

section. In reviewing a civil action under this section, the court shall recognize the 

continuing force and effect of the authorization in the preceding sentence until such 

time as the authorization is repealed pursuant to law.’’. 

(b) COPIES AND INTERVIEWS.—Section 716(a) of title 31, United States Code, as 

amended by subsection (a), is further amended in the second sentence of paragraph 

(2) by striking ‘‘inspect an agency record’’ and inserting ‘‘inspect, and make and retain copies of, an agency record and interview agency officers and employees’’. 

(c) RULES OF CONSTRUCTION.—Section 716 of title 31, United States Code, is 

amended by adding at the end the following new subsection: 

‘‘(f) No provision of any law in existence on the date of the enactment of this section or enacted after such date shall be construed to limit, amend, or supersede the 

authority of the Comptroller General to obtain any information, to inspect any 

record, or to interview any officer or employee under this section, except to the extent such provision expressly and specifically refers to this section and provides for 

such limitation, amendment, or supersession.’’. 

SEC. 3. ADMINISTERING OATHS. 

Paragraph (4) of section 711 of title 31, United States Code, is amended to read 

as follows: 

‘‘(4) administer oaths to witnesses, except that, in matters other than auditing 

and settling accounts, the authority of an officer or employee to administer 

oaths to witnesses pursuant to a delegation under paragraph (2) shall not be 

available without the prior express approval of the Comptroller General (or a 

designee).’’. 

SEC. 4. AGENCY REPORTS. 

Section 720(b) of title 31, United States Code, is amended— 

(1) in the matter preceding paragraph (1), by inserting ‘‘or planned’’ after ‘‘action taken’’; and 

(2) by amending paragraph (1) to read as follows: 

‘‘(1) the Committee on Homeland Security and Governmental Affairs of the 

Senate, the Committee on Oversight and Government Operations of the House 

of Representatives, the congressional committees with jurisdiction over the 

agency program or activity that is the subject of the recommendation, and the 

Government Accountability Office before the 61st day after the date of the report; and’’. 

SEC. 5. REVIEWS OF SPECIAL FEDERAL RESERVE CREDIT FACILITIES. 

(a) REVIEWS.—Section 714 of title 31, United States Code (as amended by section 

801 of Public Law 111–22), is amended by adding at the end the following new subsection: 

‘‘(f) REVIEWS OF CREDIT FACILITIES OF THE FEDERAL RESERVE SYSTEM.— 

‘‘(1) IN GENERAL.—Subject to paragraph (3) and notwithstanding any limitation in subsection (b) on the auditing and overseeing of certain functions of the 

Board of Governors of the Federal Reserve System or any Federal reserve bank, 

the Comptroller General may conduct reviews, including onsite examinations 

when the Comptroller General determines such actions are appropriate, of credit facilities established by the Board or any Federal reserve bank, and of the 

establishment of such credit facilities by the Board or any Federal reserve 

bank— 

‘‘(A) in carrying out any action or function approved by the Board under 

the 3rd undesignated paragraph of section 13 of the Federal Reserve Act 

(12 U.S.C. 343); or 

‘‘(B) in providing temporary assistance to private institutions as the lender of last resort. 

‘‘(2) DESCRIPTION.—As of the date of the enactment of this subsection, the 

credit facilities to which this subsection applies include the following: 

‘‘(A) Money Market Investor Funding Facility. 


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‘‘(B) Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility. 

‘‘(C) Term Asset-Backed Securities Loan Facility. 

‘‘(D) Term Auction Facility. 

‘‘(E) The Primary Dealer Credit Facility. 

‘‘(F) The Commercial Paper Funding Facility. 

‘‘(G) The Term Securities Lending Facility, including the Term Securities 

Lending Facility Options Program. 

‘‘(H) The Revolving Credit Facility. 

‘‘(I) Reciprocal currency arrangements with foreign central banks. 

‘‘(J) Mortgage Backed Securities Purchase Program, as well as the purchase of debt obligations from a Government Sponsored Enterprise. 

‘‘(K) Any special purpose vehicle through which any such credit facility 

conducts any activity or lending. 

‘‘(3) TERMINATION OF AUTHORITY.—Paragraph (1) shall cease to apply after the 

expiration of the 5-year period beginning on the date of the enactment of this 

subsection. 

‘‘(4) REPORT.— ‘‘(A) REQUIRED.—A report on each review conducted under paragraph (1) 

shall be submitted by the Comptroller General to the Congress before the 

end of the 90-day period beginning on the date on which such review is 

completed. 

‘‘(B) CONTENTS.—The report under subparagraph (A) shall include a detailed description of the findings and conclusions of the Comptroller General with respect to the review that is the subject of the report, together 

with such recommendations for legislative or administrative action as the 

Comptroller General may determine to be appropriate.’’. 

(b) ACCESS TO RECORDS.—Section 714(d) of title 31, United States Code (as 

amended by section 801 of Public Law 111–22), is amended— 

(1) in paragraph (1)— 

(A) in the first sentence, by inserting after ‘‘an agency’’ the following: ‘‘or 

any facility established by an agency (as specified in subsection (f))’’; and 

(B) in the second sentence, by inserting after ‘‘and any entity’’ the following: ‘‘or facility’’; and 

(2) in paragraph (2), by inserting after ‘‘used by an agency’’ the following: ‘‘or 

any facility established by an agency (as specified in subsection (f))’’. 

PURPOSE AND SUMMARY

H.R. 2646, the ‘‘Government Accountability Office Improvement 

Act of 2009’’, was introduced on June 2, 2009, by Oversight and 

Government Reform Committee Chairman Edolphus Towns. H.R. 

2646 clarifies and strengthens the authority of the Government Accountability Office (GAO) in several critical areas, including its access to records. 

H.R. 2646 addresses a court decision, Walker v. Cheney, 230 F. 

Supp. 2d 51 (D.D.C. 2002), which limited GAO’s ability to question 

agency access decisions in court. H.R. 2646 explicitly provides the 

Comptroller General with standing to pursue litigation when and 

if the Comptroller General decides that the performance of his official duties is harmed by an agency improperly withholding information from the GAO. H.R. 2646 further enhances GAO’s access to 

information in two key areas. It confirms GAO’s right to make and 

retain copies of records, and provides GAO with the right to interview agency officers and employees under section 716(a) of Title 31, 

United States Code. In addition, H.R. 2646 sets forth a rule of construction providing that GAO’s statutory authority to access information supersedes non-disclosure language in agency-specific statutes, unless that legislation expressly limits GAO’s access. H.R. 

2646 also clarifies GAO’s authority to administer oaths. Additionally, the bill provides agencies more flexibility in reporting to Congress in response to GAO recommendations. Finally, as amended in 

Committee, H.R. 2646 explicitly extends GAO’s authority to conVerDate Nov 24 2008 04:33 Dec 27, 2009 Jkt 089006 PO 00000 Frm 00003 Fmt 6659 Sfmt 6602 E:\HR\OC\HR387P1.XXX HR387P1

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duct audits of certain credit facilities established by the Federal 

Reserve for the five-year period following enactment of the legislation. 

BACKGROUND AND NEED FOR LEGISLATION

Congress relies on the GAO in carrying out the investigative and 

oversight functions vested in the Legislative Branch. H.R. 2646 is 

necessary to ensure that GAO can effectively carry out all of its 

functions for the Congress. The GAO helps inform the Congress, 

Executive agencies, and the public about areas and programs within the federal government that are performing well, and those that 

need to be improved or are vulnerable to waste, fraud, and abuse. 

GAO audits provide reliable assessments as to whether the taxpayers are receiving full value from important government programs. H.R. 2646 is intended to increase the effectiveness of GAO 

by ensuring that GAO is not unnecessarily restricted in its efforts 

to secure necessary information in the course of performing its auditing and investigative functions for the Congress. 

LEGISLATIVE HISTORY

H.R. 2646 was introduced by Chairman Towns on June 2, 2009. 

On June 4, 2009, the Committee on Oversight and Government Reform held a markup of the bill, and ordered the bill to be reported, 

as amended, by voice vote. 

In the 110th Congress, similar legislation, H.R. 6388, passed the 

House of Representatives by a voice vote on July 29, 2008. Prior 

to House passage of the bill, the Subcommittee on the Federal 

Workforce, Postal Service, and the District of Columbia held a 

hearing on March 13, 2008, on legislation to improve the oversight, 

administration, and investigative authorities of GAO. On Wednesday, July 16, 2008, the Committee met in open session and favorably ordered H.R. 6388 to be reported to the House by a voice vote. 

SECTION-BY-SECTION

Sec. 1. Short title 

The short title of the bill is the Government Accountability Office 

Improvement Act of 2009. 

Sec. 2. Authority to obtain information 

This section would clarify that Congress has authorized GAO to 

pursue civil actions in federal court if federal departments and 

agencies, including the Executive Office of the President and the 

White House, improperly withhold federal records from GAO. In 

litigation arising from GAO’s efforts to obtain information about 

the operations of former Vice President Cheney’s energy task force, 

the federal district court for the District of Columbia held that the 

Comptroller General lacked standing to enforce GAO’s right to information (Walker v. Cheney, 230 F. Supp. 2d 51 (D.D.C. 2002)). 

This decision undermines GAO’s ability to successfully carry out 

the investigative responsibilities delegated to it by the Congress. 

By limiting GAO’s ability to conduct audits and investigations, the 

decision also has the effect of undermining Congress’ constitutional 

prerogatives to determine how best to carry out its investigative, 


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legislative, and oversight responsibilities. H.R. 2646 reaffirms and 

makes explicit the authorization from Congress to the Comptroller 

General to pursue litigation when and if the Comptroller General 

decides that the performance of his official duties is harmed by an 

agency or contractor improperly withholding information from 

GAO, without the need for any additional approval. In effect, section 2(a) of H.R. 2646 represents a legislative repudiation of the 

court’s decision in Walker v. Cheney. 

In addition, GAO has had a longstanding right of access to agency records. However, its audit, evaluation, and investigative efforts 

occasionally have been frustrated and delayed by agencies not providing GAO with copies of needed records and by a lack of willingness on the part of agency officers and employees to discuss the 

content of records or provide background information relevant to 

programs under review. While the right to copy records is inherent 

in GAO’s authority to obtain the information it needs from agencies, some agencies nevertheless have insisted that GAO review 

agency records only on site, without making copies, including situations where no practical justification exists. In addition, many 

agency activities are not documented, which means that the cooperation of agency officers and employees provides the only viable 

means for GAO to obtain information about certain activities. Accordingly, subsection (b) enhances GAO’s existing access authority 

by explicitly confirming GAO’s right to make and retain copies of 

records, and by providing GAO with the right to interview agency 

officers and employees under section 716(a) of Title 31. 

Subsection (c) further confirms GAO’s access authority by requiring agencies to interpret statutes as requiring disclosure of information to GAO, unless the statute expressly denies GAO the right 

to access such information. In numerous instances, agencies have 

seized on statutory language placing limitations on the disclosure 

or use of data to conclude that such data could not be disclosed to 

GAO. The rule of construction provided in H.R. 2646 is consistent 

with the GAO’s enforcement provision under section 716 of Title 

31, and will apply to existing as well as future provisions of law, 

except to the extent a statute expressly and specifically limits the 

Comptroller General’s access to information. 

Sec. 3. Administering oaths 

When Congress established GAO in 1921, auditing and settling 

accounts were its principal focus, but that is no longer the case. 

The Congress has called upon the Comptroller General to perform 

many other audit, investigative, and adjudicative roles for the Congress. These roles periodically raise situations involving potential 

criminal or ethical violations, or conflicting testimony or assertions 

concerning sensitive subjects. In such situations, the ability to administer oaths can be an important tool—as it has been for agency 

Inspector Generals, including GAO’s statutory Inspector General— 

to allow the Comptroller General to better accomplish his work for 

the Congress. This section amends section 711 of title 31 to remove 

references to auditing and settling accounts in the Comptroller 

General’s authority to administer oaths to witnesses, except that, 

in situations other than auditing or settling accounts, prior express 

approval of the Comptroller General or a designee is required. 


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Sec. 4. Agency reports 

Section 4 amends section 720 of title 31 to allow an agency more 

flexibility in reporting to Congress on its response to a GAO recommendation. Currently, agencies must report two months after 

issuance of a GAO report on ‘‘action taken.’’ H.R. 2646 recognizes 

that agencies must decide on a course of action before implementing it, and therefore, requires agencies to report within two 

months on actions planned or taken in response to a GAO recommendation. The section also expands the list of recipients of the 

agency reports to include GAO and the congressional committees 

with jurisdiction over the agency program or activity that is the 

subject of the recommendation. 

Sec. 5. Review of special Federal Reserve credit facilities 

Section 5 amends section 714 of title 31 to allow the GAO to conduct reviews of certain actions taken by the Federal Reserve that 

previously have been exempt from GAO review. Previously-excluded actions concerning monetary policy decisions, discount window operations, and other matters have been a major part of the 

Federal Reserve’s unprecedented exercise of authority in response 

to the recent financial crisis. The section addresses an accountability shortcoming in oversight of Federal Reserve actions by providing the GAO with authority to conduct onsite examinations of 

credit facilities established by the Federal Reserve in carrying out 

any action or function approved by the Federal Reserve under section 13 of the Federal Reserve Act or in providing temporary assistance to private institutions as the lender of last resort. The section 

further requires GAO to submit a report on all reviews they conduct under this section. The authority provided by this section 

would expire five years after the enactment of the bill. 

EXPLANATION OF AMENDMENTS

An amendment, offered by Rep. Kucinich, was agreed to on a 

voice vote. The amendment, which adds section 5 to H.R. 2646, 

would allow the GAO to review and audit certain monetary policy 

and other actions taken by the Federal Reserve, including those 

taken in response to the financial crisis. The Federal Banking 

Agency Audit Act of 1978 (P.L. 95–320) severely limits the ability 

of the GAO to conduct audits and reviews of many actions taken 

by the Federal Reserve. The Act specifically excludes from audit 

and review those transactions for or with a foreign central bank or 

foreign government, as well as deliberations, decisions, or actions 

on monetary policy matters, including discount window operations. 

These activities have been a major part of the Federal Reserve’s recent and unprecedented response to the financial crisis. 

S. 896, the ‘‘Helping Families Save Their Homes Act’’ (P.L. 111– 

22), which passed the House of Representatives on May 19, 2009, 

and was signed by President Obama on May 20, 2009, included 

language to allow GAO to audit some of the previously-excluded activities. The amendment to H.R. 2646 offered by Mr. Kucinich 

would extend this authority to ensure that all action taken by the 

Federal Reserve in response to the financial crisis are subject to 

GAO review. The amendment would allow Congress to obtain a 

complete picture of the Federal Reserve’s actions in response to the 


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financial crisis, as well as improve transparency at the Federal Reserve. 

The amendment is similar to the language of H.R. 2424, a bipartisan bill introduced by Rep. Kucinich, Chairman Towns, Ranking 

Member Issa, and Domestic Policy Subcommittee Ranking Member 

Jordan. 

COMMITTEE CONSIDERATION

On Thursday, June 4, 2009, the Committee met in open session 

and ordered H.R. 2646, as amended, to be favorably reported to the 

House by a voice vote. 

ROLLCALL VOTES

No rollcall votes were taken. 

APPLICATION OF LAW TO THE LEGISLATIVE BRANCH

Section 102(b)(3) of Public Law 104–1 requires a description of 

the application of this bill to the Legislative Branch where the bill 

relates to terms and conditions of employment or access to public 

services and accommodations. 

H.R. 2646 clarifies and expands the authority of the GAO to access information and records in the course of conducting audits and 

investigations. This bill does not relate to employment or access to 

public services and accommodations in the Legislative Branch. 

STATEMENT OF OVERSIGHT FINDINGS AND RECOMMENDATIONS OF

THE COMMITTEE

In compliance with clause 3(c)(1) of rule XIII and clause (2)(b)(1) 

of rule X of the Rules of the House of Representatives, the Committee’s oversight findings and recommendations are reflected in the 

descriptive portions of this report, including the need to enhance 

the ability of GAO to access information and records. 

STATEMENT OF GENERAL PERFORMANCE GOALS AND OBJECTIVES

In accordance with clause 3(c)(4) of rule XIII of the Rules of the 

House of Representatives, the Committee’s performance goals and 

objectives are reflected in the descriptive portions of this report, including the need to enhance the ability of GAO to access information and records to assist the Congress in carrying out the oversight and investigative functions vested in the Legislative Branch. 

CONSTITUTIONAL AUTHORITY STATEMENT

Under clause 3(d)(1) of rule XIII of the Rules of the House of 

Representatives, the Committee must include a statement citing 

the specific powers granted to Congress to enact the law proposed 

by H.R. 2646. Article I, Section 8, Clause 18 of the Constitution of 

the United States grants the Congress the power to enact this law. 

FEDERAL ADVISORY COMMITTEE ACT

The Committee finds that the legislation does not establish or 

authorize the establishment of an advisory committee within the 

definition of 5 U.S.C. App., Section 5(b). 


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UNFUNDED MANDATES STATEMENT

Section 423 of the Congressional Budget and Impoundment Control Act (as amended by Section 101(a)(2) of the Unfunded Mandates Reform Act, P.L. 104–4) requires a statement on whether the 

provisions of the report include unfunded mandates. In compliance 

with this requirement the Committee has received a letter from the 

Congressional Budget Office included herein. 

EARMARK IDENTIFICATION

H.R. 2646 does not include any congressional earmarks, limited 

tax benefits, or limited tariff benefits as defined in clause 9(d), 9(e), 

or 9(f) of rule XXI. 

COMMITTEE ESTIMATE

Clause 3(d)(2) of rule XIII of the Rules of the House of Representatives requires an estimate and a comparison by the Committee of the costs that would be incurred in carrying out H.R. 

2646. However, clause 3(d)(3)(B) of that rule provides that this requirement does not apply when the Committee has included in its 

report a timely submitted cost estimate of the bill prepared by the 

Director of the Congressional Budget Office under section 402 of 

the Congressional Budget Act. 

BUDGET AUTHORITY AND CONGRESSIONAL BUDGET OFFICE COST

ESTIMATE

With respect to the requirements of clause 3(c)(2) of rule XIII of 

the Rules of the House of Representatives and section 308(a) of the 

Congressional Budget Act of 1974 and with respect to requirements 

of clause 3(c)(3) of rule XIII of the Rules of the House of Representatives and section 402 of the Congressional Budget Act of 1974, the 

Committee has received the following cost estimate for H.R. 2646 

from the Director of the Congressional Budget Office: 

JUNE 9, 2009. 

Hon. EDOLPHUS TOWNS, 

Chairman, Committee on Oversight and Government Reform, 

House of Representatives, Washington, DC. 

DEAR MR. CHAIRMAN: The Congressional Budget Office has prepared the enclosed cost estimate for H.R. 2646, the Government Accountability Office Improvement Act of 2009. 

If you wish further details on this estimate, we will be pleased 

to provide them. The CBO staff contact is Deborah Reis. 

Sincerely, 

DOUGLAS W. ELMENDORF. 

Enclosure. 

H.R. 2646—Government Accountability Office Improvement Act of 

2009 

H.R. 2646 would provide additional authorities to the Government Accountability Office (GAO), including the authority to obtain 

certain records and administer oaths to witnesses. CBO estimates 

that implementing the legislation would have no significant effect 


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on the federal budget. The additional authorities provided by the 

bill would facilitate GAO’s audit procedures and other activities. 

H.R. 2646 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would 

impose no costs on state, local, or tribal governments. 

The CBO staff contact for this estimate is Deborah Reis. The estimate was approved by Theresa Gullo, Deputy Assistant Director 

for Budget Analysis. 

CHANGES IN EXISTING LAW MADE BY THE BILL, AS REPORTED

In compliance with clause 3(e) of rule XIII of the Rules of the 

House of Representatives, changes in existing law made by the bill, 

as reported, are shown as follows (existing law proposed to be omitted is enclosed in black brackets, new matter is printed in italic, 

existing law in which no change is proposed is shown in roman): 

TITLE 31, UNITED STATES CODE 

* * * * * * * 

SUBTITLE I—GENERAL 

* * * * * * * 

CHAPTER 7—GOVERNMENT ACCOUNTABILITY OFFICE 

* * * * * * * 

SUBCHAPTER II—GENERAL DUTIES AND POWERS 

§ 711. General authority 

The Comptroller General may— 

(1) * * * 

* * * * * * * 

ø(4) administer oaths to witnesses when auditing and settling accounts.¿ 

(4) administer oaths to witnesses, except that, in matters 

other than auditing and settling accounts, the authority of an 

officer or employee to administer oaths to witnesses pursuant to 

a delegation under paragraph (2) shall not be available without 

the prior express approval of the Comptroller General (or a designee). 

* * * * * * * 

§ 714. Audit of Financial Institutions Examination Council, 

Federal Reserve Board, Federal reserve banks, 

Federal Deposit Insurance Corporation, and Office 

of Comptroller of the Currency 

(a) * * * 

* * * * * * * 

(d)(1) To carry out this section, all records and property of or 

used by an agency or any facility established by an agency (as specified in subsection (f)), including samples of reports of examinations 

of a bank or bank holding company the Comptroller General conVerDate Nov 24 2008 04:33 Dec 27, 2009 Jkt 089006 PO 00000 Frm 00009 Fmt 6659 Sfmt 6601 E:\HR\OC\HR387P1.XXX HR387P1

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siders statistically meaningful and workpapers and correspondence 

related to the reports shall be made available to the Comptroller 

General. The Comptroller General shall have access to the officers, 

employees, contractors, and other agents and representatives of an 

agency and any entity or facility established by an agency at any 

reasonable time as the Comptroller General may request. The 

Comptroller General may make and retain copies of such books, accounts, and other records as the Comptroller General determines 

appropriate. The Comptroller General shall give an agency a current list of officers and employees to whom, with proper identification, records and property may be made available, and who may 

make notes or copies necessary to carry out an audit. 

(2) The Comptroller General shall prevent unauthorized access to 

records, copies of any record, or property of or used by an agency 

or any facility established by an agency (as specified in subsection 

(f)) that the Comptroller General obtains during an audit. 

* * * * * * * 

(f) REVIEWS OF CREDIT FACILITIES OF THE FEDERAL RESERVE

SYSTEM.— 

(1) IN GENERAL.—Subject to paragraph (3) and notwithstanding any limitation in subsection (b) on the auditing and 

overseeing of certain functions of the Board of Governors of the 

Federal Reserve System or any Federal reserve bank, the Comptroller General may conduct reviews, including onsite examinations when the Comptroller General determines such actions are 

appropriate, of credit facilities established by the Board or any 

Federal reserve bank, and of the establishment of such credit facilities by the Board or any Federal reserve bank— 

(A) in carrying out any action or function approved by 

the Board under the 3rd undesignated paragraph of section 

13 of the Federal Reserve Act (12 U.S.C. 343); or 

(B) in providing temporary assistance to private institutions as the lender of last resort. 

(2) DESCRIPTION.—As of the date of the enactment of this subsection, the credit facilities to which this subsection applies include the following: 

(A) Money Market Investor Funding Facility. 

(B) Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility. 

(C) Term Asset-Backed Securities Loan Facility. 

(D) Term Auction Facility. 

(E) The Primary Dealer Credit Facility. 

(F) The Commercial Paper Funding Facility. 

(G) The Term Securities Lending Facility, including the 

Term Securities Lending Facility Options Program 

(H) The Revolving Credit Facility. 

(I) Reciprocal currency arrangements with foreign central 

banks. 

(J) Mortgage Backed Securities Purchase Program, as 

well as the purchase of debt obligations from a Government 

Sponsored Enterprise. 

(K) Any special purpose vehicle through which any such 

credit facility conducts any activity or lending. 


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(3) TERMINATION OF AUTHORITY.—Paragraph (1) shall cease 

to apply after the expiration of the 5-year period beginning on 

the date of the enactment of this subsection. 

(4) REPORT.— 

(A) REQUIRED.—A report on each review conducted under 

paragraph (1) shall be submitted by the Comptroller General to the Congress before the end of the 90-day period beginning on the date on which such review is completed. 

(B) CONTENTS.—The report under subparagraph (A) 

shall include a detailed description of the findings and conclusions of the Comptroller General with respect to the review that is the subject of the report, together with such recommendations for legislative or administrative action as 

the Comptroller General may determine to be appropriate. 

* * * * * * * 

§ 716. Availability of information and inspection of records 

(a)(1) The Comptroller General is authorized to obtain such agency records as the Comptroller General requires to discharge his duties (including audit, evaluation, and investigative duties), including through the bringing of civil actions under this section. In reviewing a civil action under this section, the court shall recognize 

the continuing force and effect of the authorization in the preceding 

sentence until such time as the authorization is repealed pursuant 

to law. 

ø(a)¿ (2) Each agency shall give the Comptroller General information the Comptroller General requires about the duties, powers, 

activities, organization, and financial transactions of the agency. 

The Comptroller General may øinspect an agency record¿ inspect, 

and make and retain copies of, an agency record and interview 

agency officers and employees to get the information. This subsection does not apply to expenditures made under section 3524 or 

3526(e) of this title. 

* * * * * * * 

(f) No provision of any law in existence on the date of the enactment of this section or enacted after such date shall be construed 

to limit, amend, or supersede the authority of the Comptroller General to obtain any information, to inspect any record, or to interview 

any officer or employee under this section, except to the extent such 

provision expressly and specifically refers to this section and provides for such limitation, amendment, or supersession. 

* * * * * * * 

§ 720. Agency reports 

(a) * * * 

(b) When the Comptroller General makes a report that includes 

a recommendation to the head of an agency, the head of the agency 

shall submit a written statement on action taken or planned on the 

recommendation by the head of the agency. The statement shall be 

submitted to— 

ø(1) the Committee on Governmental Affairs of the Senate 

and the Committee on Government Operations of the House of 


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Representatives before the 61st day after the date of the report; and¿ 

(1) the Committee on Homeland Security and Governmental 

Affairs of the Senate, the Committee on Oversight and Government Operations of the House of Representatives, the congressional committees with jurisdiction over the agency program or 

activity that is the subject of the recommendation, and the Government Accountability Office before the 61st day after the date 

of the report; and 

* * * * * * * 

Æ 


smartinez on DSKB9S0YB1PROD with REPORTS