PUBLIC LAW 428-JUNE 24, 1954
[68 S T A T.
during the current fiscal year not to exceed $3,940,000 shall be available for administrative expenses (including not to exceed $265,000 for travel) for the foregoing purposes, but this amount shall be exclusive of costs of services performed on a contract or fee basis in connection with termination of contracts and legal services on a contract or fee basis and of payment for services and facilities of the Federal Reserve banks or any member thereof, any servicer approved by the Federal National Mortgage Association, the Federal home-loan banks, and any insured bank within the meaning of the Act of August 23, 1935, as amended, creating the Federal Deposit Insurance Corporation (12 f l ^iTs'c^^i^s 11- U- ^- ^- 2^"^) which has been designated by the Secretary of the 1831. Treasury as a depository of public money of the United States: Provided further, That after the effective date of this Act no additional notes or obligations shall be purchased from funds appropriated pur63 Stat. 59. g^ant to the Alaska Housing Act, as amended (48 U.S.C. 484 (d)), except for the furtherance or refinancing of an existing loan: Provided further, That except for extensions, or refinancing, of existing obligations the authority to issue obligations to the Secretary of the Treasury under section 1(4) of Reorganization Plan No. 23 of 1950 fus^c \Vil'-\s (S U.S.C. 1332-15, note), shall terminate on June 30, 1954: Provided note. further, That all expenses, not otherwise specifically limited in this Act, in connection with the programs administered pursuant to the foregoing provisions of law shall not exceed $20,000,000. Home Loan Bank Board: Not to exceed a total of $775,000 shall be available for administrative expenses of the Home Loan Bank Board, and shall be derived from funds available to the Home Loan Bank Board, including those in the Home Loan Bank Board revolving fund and receipts of the Federal Home Loan Bank Administration, the Federal Home Loan Bank Board, or the Home Loan Bank Board for the current fiscal year and prior fiscal years, and the Board may utilize and may make payment for services and facilities of the Federal home-loan banks, the Federal Reserve banks, the Federal Savings and Loan Insurance Corporation, and other agencies of the Government: Provided, That all necessary expenses in connection with the conservatorship of institutions insured by the Federal Savings and Loan Insurance Corporation and all necessary expenses (including services performed on a contract or fee basis, but not including other personal services) in connection with the handling, including the purchase, sale, and exchange, of securities on behalf of Federal home-loan banks, and the sale, issuance, and retirement of, or payment of interest on, debentures or bonds, under the Federal Home Loan Bank Act, as amended, shall be considered as nonadministrative expenses for the purposes hereof: Provided further, That not to exceed $35,000 shall be available for expenses of travel: Provided further, That notwithstanding any other provisions of this Act, except for the limitation in amount hereinbefore specified, the administrative expenses and other obligations of the Board shall be incurred, allowed, and paid in accordance with the provisions of the Federal Home Loan Bank Act of July 22, 1932, 47 Stat. 725. as amended (12 U.S.C. 1421-1449): Provided further, That the nonadministrative expenses for the examination of Federal and State chartered institutions shall not exceed $2,395,000. Federal Savings and Loan Insurance Corporation: Not to exceed $455,000 shall be available for administrative expenses, which shall be on an accrual basis and shall be exclusive of interest paid, depreciation, properly capitalized expenditures, expenses in connection with liquidation of insured institutions, liquidation or handling of assets of or derived from insured institutions, payment of insurance, and action for or toward the avoidance, termination, or minimizing of losses in the case of insured institutions, legal fees and expenses,
�
