Download or read book Estimating the Value of Subsidies for Federal Loans and Loan Guarantees written by Deborah Lucas and published by . This book was released on 2004 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Estimating the Value of Subsidies for Federal Loans and Loan Guarantees written by Deborah Lucas and published by . This book was released on 2004 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A CBO Study Estimating the Value of Subsidies for Federal Loans and Loan Guarantees written by and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: With credit-reform rules having been in effect for more than a decade, the Chairman of the House Budget Committee has asked the Congressional Budget Office (CBO) to reexamine the provisions of the Federal Credit Reform Act (FCRA) with an eye toward identifying possible improvements in, and extensions of, the accrual basis of budgetary accounting. This study - which is one part of CBO's response to that request - focuses on using commercial interest rates, which incorporate risk, instead of risk-free Treasury rates to measure the cost of federal credit programs.
Download or read book A CBO Study Estimating the Value of Subsidies for Federal Loans and Loan Guarantees August 2004 written by United States. Congressional Budget Office and published by . This book was released on 2004* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Department of Education key aspects of the Federal Direct Loan Program s cost estimates report to Congressional requesters written by and published by DIANE Publishing. This book was released on with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Estimating the Value of Subsidies for Federal Loans and Loan Guarantees written by Deborah Lucas and published by . This book was released on 2004 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Federal Loan Guarantees for the Construction of Nuclear Power Plants written by Wendy Kiska and published by . This book was released on 2011 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: And introduction -- Overview of DOE's loan guarantee program -- Comparing budgetary and fair-value costs -- Illustrative guarantee costs and sensitivity analysis -- Appendix A : The federal government's role in nuclear power and a historical overview of industry performance -- Appendix B : Applications for the Department of Energy's loan guarantee program -- Appendix C : Calculating the value of a loan guarantee.
Download or read book Small Business Administration written by United States. General Accounting Office and published by DIANE Publishing. This book was released on 2001 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Budgetary Treatment of Federal Credit Direct Loans and Loan Guarantees written by James M. Bickley and published by Createspace Independent Pub. This book was released on 2012-08-10 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. government uses federal credit (direct loans and loan guarantees) to allocate financial capital to a range of areas, including home ownership, higher education, small business, agriculture, and energy. At the end of FY2011, outstanding federal credit totaled $2.9 trillion. This report explains the budgetary treatment of federal credit, examines proposed reforms, and describes relevant bills introduced in the 112th Congress. Title V of the Omnibus Budget Reconciliation Act of 1990 (P.L. 101-508), the Federal Credit Reform Act of 1990 or FCRA, changed how the unified budget reports the cost of federal credit activities (i.e., federal direct loans and loan guarantees) to an accrual basis beginning in 1992. Before FY1992, for a given fiscal year, the budgetary cost of a new direct loan or loan guarantee was the net cash flow for that fiscal year. This cash flow measure did not accurately reflect the cost of a loan or loan guarantee, which is its subsidy cost over the entire life of the loan or loan guarantee, that is, its accrual cost. Beginning with FY1992, FCRA required that the reported budgetary cost of a credit program equal the estimated subsidy costs at the time the credit is provided. The FCRA defines the subsidy cost as “the estimated long-term cost to the government of a direct loan or a loan guarantee, calculated on a net present value basis, excluding administrative costs.” This arguably places the cost of federal credit programs on a budgetary basis equivalent to other federal outlays. Because the subsidy costs of discretionary credit programs (such as the business loan programs of the Small Business Administration and the loan guarantee programs of the Export-Import Bank) are now provided through appropriations acts, this change meant that discretionary credit programs must compete with other discretionary programs on an equal basis. In contrast, funding for most mandatory credit programs (generally entitlement programs) is provided by permanent appropriations. The director of the Office of Management and Budget (OMB) is responsible for coordinating the estimation of subsidy costs to the federal government. Since the passage of the FCRA, federal agencies, working with OMB, have steadily improved their compliance with credit reform standards. In October 1990, the Federal Accounting Standards Advisory Board (FASAB) was established. In August 1993, this board required that agencies' accounting procedures be consistent with their budgetary procedures for their federal credit programs. On August 5, 1997, the Balanced Budget Act of 1997 (P.L. 105-33) was enacted, amending the FCRA to make technical changes, including codifying several guidelines set by OMB. Four proposals to expand credit reform have been discussed: the principles of credit reform could be applied to government-sponsored enterprises (GSEs); the principles of credit reform could be extended to federal insurance programs; the budgetary cost of capital for credit programs could be changed to include market risk; and the administrative costs of credit programs could be included in the calculation of the costs of these programs. These proposals are described in this report. In the 112th Congress, four bills have been proposed with provisions concerning the budgetary treatment of federal credit: related bills S. 1651/H.R. 3414 (Honest Budget Act); H.R. 3581 (Budget and Accounting Transparency Act of 2011); and H.R. 3844 (Honest Budget Act of 2012). H.R. 3581 was passed by the House but has not been acted on by the Senate.
Download or read book Circular No A 11 written by Omb and published by . This book was released on 2019-06-29 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt: The June 2019 OMB Circular No. A-11 provides guidance on preparing the FY 2021 Budget and instructions on budget execution. Released in June 2019, it's printed in two volumes. This is Volume I. Your budget submission to OMB should build on the President's commitment to advance the vision of a Federal Government that spends taxpayer dollars more efficiently and effectively and to provide necessary services in support of key National priorities while reducing deficits. OMB looks forward to working closely with you in the coming months to develop a budget request that supports the President's vision. Most of the changes in this update are technical revisions and clarifications, and the policy requirements are largely unchanged. The summary of changes to the Circular highlights the changes made since last year. This Circular supersedes all previous versions. VOLUME I Part 1-General Information Part 2-Preparation and Submission of Budget Estimates Part 3-Selected Actions Following Transmittal of The Budget Part 4-Instructions on Budget Execution VOLUME II Part 5-Federal Credit Part 6-The Federal Performance Framework for Improving Program and Service Delivery Part7-Appendices Why buy a book you can download for free? We print the paperback book so you don't have to. First you gotta find a good clean (legible) copy and make sure it's the latest version (not always easy). Some documents found on the web are missing some pages or the image quality is so poor, they are difficult to read. If you find a good copy, you could print it using a network printer you share with 100 other people (typically its either out of paper or toner). If it's just a 10-page document, no problem, but if it's 250-pages, you will need to punch 3 holes in all those pages and put it in a 3-ring binder. Takes at least an hour. It's much more cost-effective to just order the bound paperback from Amazon.com This book includes original commentary which is copyright material. Note that government documents are in the public domain. We print these paperbacks as a service so you don't have to. The books are compact, tightly-bound paperback, full-size (8 1/2 by 11 inches), with large text and glossy covers. 4th Watch Publishing Co. is a HUBZONE SDVOSB. https: //usgovpub.com
Download or read book Federal student loans challenges in estimating federal subsidy costs report to congressional committees written by and published by DIANE Publishing. This book was released on with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Evaluating the Costs of Government Credit Support Programs During COVID 19 International Evidence written by Mr. Gee Hee Hong and published by International Monetary Fund. This book was released on 2023-01-27 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advanced economies made available more than 5 trillion USD through government-supported credit guarantee and direct loan programs to provide lifelines to firms in the face of the COVID-19 pandemic. Notwithstanding the unprecedented scale of credit made available, an in-depth analysis of the fiscal consequences is missing, and the costs of these programs are not recognized in a transparent way. In this paper, we fill in an important aspect of the fiscal picture by estimating the subsidies that were provided by the largest credit guarantee programs introduced in 2020 in seven advanced economies. We estimate the subsidies on a fair value basis that provides a consistent and comprehensive upfront measure of cost. We explain the logic behind applying a fair value framework in a government context and compare it to alternative approaches. For the programs that we examine, total credit extended totaled 1.7 trillion USD. The subsidy element (cash-equivalent subsidy) is estimated to be 67 percent of loan principal on average (37 percent, excluding the US PPP), with a wide range across programs, from 12 to 100 percent. The variation is explained by differences across programs including eligibility criteria, loan terms, compensation to lenders, and other program design choices.
Download or read book Federal Student Loans Challenges in Estimating Federal Subsidy Costs Report to Congressional Committees GAO 05 874 written by General Accounting Office, Washington, DC. and published by . This book was released on 2005 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: In fiscal year 2004, the federal government made or guaranteed about $84 billion in loans for postsecondary education through two loan programs--the Federal Family Education Loan Program (FFELP) and the Federal Direct Loan Program (FDLP). Under FFELP, private lenders fund the loans and the government guarantees them a minimum yield and repayment if borrowers default. When the interest rate paid by borrowers is lower than the guaranteed minimum yield, the government pays lenders special allowance payments (SAP). Under FDLP, the U.S. Treasury funds the loans that are originated through participating schools. Under the Federal Credit Reform Act (FCRA) of 1990 the government calculates, for purposes of the budget, the net cost of extending or guaranteeing credit over the life of a loan, called a subsidy cost. Agencies generally update, or reestimate, subsidy costs annually to include actual program results and adjust future program estimates. GAO examined (1) whether re-estimated subsidy costs have differed from original estimates for FFELP and FDLP loans disbursed in fiscal years 1994 through 2004, (2) what factors explain changes between re-estimated and original subsidy rates--that is subsidy cost estimates per $100 disbursed; and (3) which federal costs and revenues associated with the student loan programs are not included in subsidy cost estimates. Appended are: (1) Comparison of Fiscal Year 2006 FDLP and FFELP Re-estimated Subsidy Costs per $100 Disbursed, by Loan Type and Cohort; and (2) GAO Contacts and Staff Acknowledgments. (Contains 5 figures, and 13 tables.).
Download or read book FEDERAL SUBSIDIES AND THE HOUSING GSEs written by and published by DIANE Publishing. This book was released on 2001 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study responds to a request from Congressman Richard H. Baker-in his capacity as Chairman of the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, House Committee on Financial Services that the Congressional Budget Office (CBO) update its May 1996 study Assessing the Public Costs and Benefits of Fannie Mae and Freddie Mac. That study provided an estimate of the value of the federal subsidy to Fannie Mae and Freddie Mac. Congressman Baker also asked that CBO extend the estimate to include the Federal Home Loan Banks and to update its estimate of the portion of the subsidy that the government-sponsored enterprises (OSEs) retain. Congressman John M. Spratt, Ranking Member, House Committee on the Budget, separately requested an explanation of the methods and assumptions that CBO used in preparing its updated estimate. In addition, Senator Robert F. Bennett, Chairman, Subcommittee on Financial Institutions, and Senator Wayne Allard, Chairman, Subcommittee on Housing and Transportation, both of the Senate Committee on Banking, Housing, and Urban Affairs, jointly requested that CBO review two critiques of its previous work that were prepared under contract for Fannie Mae and Freddie Mac. This study also responds to those requests.
Download or read book Valuing Federal Loans and Loan Guarantees Using Options pricing Methods written by Deborah Lucas and published by . This book was released on 2004 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Distribution of Federal Credit Subsidy Benefits written by Richard C. McKibbin and published by . This book was released on 1975 with total page 670 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Subsidy Estimates for Guaranteed and Direct Student Loans A CBO Paper written by Justin Humphrey and published by . This book was released on 2005 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The federal government assists students and their parents in meeting the costs of postsecondary education through two student loan programs, the Federal Family Education Loan Program and the William D. Ford Direct Loan Program. Although the two programs provide similar benefits to borrowers, their structures and operations differ greatly. As a result, the federal government's cash flows for the two programs differ, as do its net budgetary costs when calculated as specified in the Federal Credit Reform Act. This Congressional Budget Office (CBO) paper--prepared at the request of the Senate Budget Committee--describes how the agency estimates the budgetary costs of the two student loan programs and what factors account for the differences in those costs. The following are appended: (1) Sample Subsidy Rates When a Borrower Defaults or Consolidates Loans; (2) Examples of Subsidy Calculated Using Fixed Interest Rates That Take Effect in 2006; (3) CBO's Estimates of Subsidy Rates for Various Types of Guaranteed and Direct Student Loans Made in 2006; and (4) Recent Legislative and Administrative Actions Affecting the Student Loan Programs. (Contains 11 tables, 2 boxes, and 29 footnotes.).
