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Applicability of the Antideficiency Act ApportionmentRequirements to the Nonadministrative Funds of the Federal Savings and Loan Insurance Corporation

Date of Issuance:

The plain language and legislative history of the apportionment requirements in the Antideficiency Act, 31 U.S.C. §§ 1511–1519, make clear that Congress intended all funds, including nonadministrative funds, of government corporations such as the FSLIC to be subject to apportionment.

The provision in 12 U.S.C. § 1725(c)(5) that the FSLIC shall determine its necessary expenditures “without regard to the provisions o f any other law governing the expenditures of public funds,” does not specifically exempt FSLIC funds from the apportionment requirements of the Antideficiency Act.

Updated July 9, 2014