About the FFB
Congress created the Federal Financing Bank (FFB) as a government corporation and an instrumentality of the United States under the general supervision and direction of the Secretary of the Treasury.
The FFB provides financing to help Federal agencies manage their borrowing and lending programs, and to ensure that all Federal Government borrowing from the public is conducted through the Treasury and not through program agencies.
Congress gave the FFB the authority to purchase any obligation issued, sold, or guaranteed by a Federal agency.
Purchasing an obligation “issued” by a Federal agency means making a direct loan to a Federal agency with authority to borrow.
Purchasing an obligation “sold” by a Federal agency means buying an asset from the agency’s balance sheet, such as a loan made and held by the agency.
Purchasing an obligation “guaranteed” by a Federal agency means making a loan, typically to a private sector party, with a guarantee from the agency to pay all or part of the principal or interest.
The FFB’s activities are included in the Budget of the United States and consolidated into the Financial Report of the United States.