terest rate charged exceeds the rate determined pur-
suant to section 502(7) that the Bank charges to a 
private borrower pursuant to section 6(c) of the 
Federal Financing Bank Act of 1973 shall be con-
sidered a cash flow to the Government for the pur-
poses of determining the cost of the direct loan pur-
suant to section 502(7). All such amounts shall be 
credited to the appropriate financing account. 
‘‘(3) REIMBURSEMENT.—The Bank is author-
ized to require reimbursement from a Federal agen-
cy to cover the administrative expenses of the Bank 
that are attributable to the direct loans financed for 
that agency. All such payments by an agency shall 
be considered administrative expenses subject to sec-
tion 504(g). This subsection shall apply to trans-
actions related to direct loan obligations or loan 
guarantee commitments made on or after October 1, 
1991. 
‘‘(4) AUTHORITY.—The authorities provided in 
this subsection shall not be construed to supersede 
or override the authority of the head of a Federal 
agency to administer and operate a direct loan or 
loan guarantee program. 
‘‘(5) TITLE 31.—All of the transactions pro-
vided in the subsection shall be subject to the provi-
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sions of subchapter II of chapter 15 of title 31, 
United States Code. 
‘‘(6) TREATMENT OF CASH BALANCES.—Cash 
balances of the financing accounts in excess of cur-
rent requirements shall be maintained in a form of 
uninvested funds and the Secretary of the Treasury 
shall pay interest on these funds. The Secretary of 
the Treasury shall charge (or pay if the amount is 
negative) financing accounts an amount equal to the 
risk component for a direct loan or loan guarantee, 
or modification thereof. Such amount received by the 
Secretary of the Treasury shall be a means of fi-
nancing and shall not be considered a cash flow of 
the Government for the purposes of section 502(7). 
‘‘(c) 
AUTHORIZATION
FOR
LIQUIDATING
AC-
COUNTS.—(1) Amounts in liquidating accounts shall be 
available only for payments resulting from direct loan obli-
gations or loan guarantee commitments made prior to Oc-
tober 1, 1991, for— 
‘‘(A) interest payments and principal repay-
ments to the Treasury or the Federal Financing 
Bank for amounts borrowed; 
‘‘(B) disbursements of loans; 
‘‘(C) default and other guarantee claim pay-
ments; 
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‘‘(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 re-
quired for modifications; 
‘‘(G) administrative costs and essential preser-
vation expenses, if— 
‘‘(i) amounts credited to the liquidating ac-
count would have been available for administra-
tive costs and essential preservation expenses 
under a provision of law in effect prior to Octo-
ber 1, 1991; and 
‘‘(ii) no direct loan obligation or loan guar-
antee commitment has been made, or any modi-
fication 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 obliga-
tions 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 miscella-
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