Đang chuẩn bị liên kết để tải về tài liệu:
APPENDIX Description of the Extraordinary Measures

The current funding system is a matter of concern because—with fewer characteristics distinguishing the national bank charter from a state bank char- ter—chartering authorities increasingly compete for member banks on the basis of supervisory costs and the ways in which those costs can be con- tained. Furthermore, two recent trends in the banking industry have been fueling the cost com- petition: increased consolidation and increased complexity. Consolidation has greatly reduced the number of banks, thereby reducing the fund- ing available to the supervisory agencies, while the increased complexity of a small number of very large banking organizations has put burdens on examination staffs that may not be covered by assessments. Together, these. | APPENDIX Description of the Extraordinary Measures Secretaries of the Treasury in both Republican and Democratic administrations have used their authority to take certain extraordinary measures in order to prevent the United States from defaulting on its obligations as Congress deliberated on increasing the statutory debt limit. Four of these extraordinary measures are available at this time. The other measures that have been taken in the past are either unavailable or of limited use. The extraordinary measures currently available are 1 suspending sales of State and Local Government Series Treasury securities 2 determining that a debt issuance suspension period exists which permits the redemption of existing and the suspension of new investments of the Civil Service Retirement and Disability Fund and the Postal Service Retirees Health Benefit Fund 3 suspending reinvestment of the Government Securities Investment Fund and 4 suspending reinvestment of the Exchange Stabilization Fund. These measures are described in more detail below. These extraordinary measures all of which have been employed during previous debt limit impasses have the effect of creating or conserving headroom beneath the debt limit. These measures are limited and therefore can postpone only briefly the need for an increase in the statutory debt limit. On average the public debt of the United States is increasing by approximately 100 billion per month although there are significant variations from month to month . In total the extraordinary measures currently available free up approximately 200 billion in headroom under the limit as described below. 1. State and Local Government Securities The Treasury Department has authority to suspend its issuance of State and Local Government Series Treasury securities SLGS . This however is a limited measure that does not create headroom under the debt limit. SLGS are special purpose Treasury securities issued to state and local government entities. In .