‘‘(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; 
‘‘(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 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 miscella-
neous 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 obliga-
tions and commitments. 
‘‘(d) REINSURANCE.—Nothing in this title shall be 
construed as authorizing or requiring the purchase of in-
surance or reinsurance on a direct loan or loan guarantee 
from private insurers. If any such reinsurance for a direct 
loan or loan guarantee is authorized, the cost of such in-
surance and any recoveries to the Government shall be in-
cluded in the calculation of the cost.
‘‘(e) ELIGIBILITY AND ASSISTANCE.—Nothing in this 
title shall be construed to change the authority or the re-
sponsibility of a Federal agency to determine the terms 
and conditions of eligibility for, or the amount of assist-
ance provided by a direct loan or a loan guarantee. 
‘‘SEC. 506. TREATMENT OF DEPOSIT INSURANCE AND AGEN-
CIES AND OTHER INSURANCE PROGRAMS. 
‘‘This title shall not apply to the credit or insurance 
activities of the Federal Deposit Insurance Corporation, 
National Credit Union Administration, Resolution Trust 
Corporation, Pension Benefit Guaranty Corporation, Na-
tional Flood Insurance, National Insurance Development 
Fund, Crop Insurance, or Tennessee Valley Authority. 
‘‘SEC. 507. EFFECT ON OTHER LAWS. 
‘‘(a) EFFECT ON OTHER LAWS.—This title shall su-
persede, modify, or repeal any provision of law enacted 
prior to the date of enactment of this title to the extent 
such provision is inconsistent with this title. Nothing in 
this title shall be construed to establish a credit limitation 
on any Federal loan or loan guarantee program. 
‘‘(b) CREDITING OF COLLECTIONS.—Collections re-
sulting from direct loans obligated or loan guarantees 
committed prior to October 1, 1991, shall be credited to 
the liquidating accounts of Federal agencies. Amounts so 
credited shall be available, to the same extent that they