360
PUBLIC LAW 87-141-AUG. 17, 1961
[75 S T A T.
FEDERAL HOME LOAN BANK BOARD LIMITATION ON ADMINISTRATIVE AND NONADMINISTRATIVE EXPENSES, FEDERAL HOME LOAN B A N K BOARD
Not to exceed a total of $1,725,000 shall be available for administrative expenses of the Federal Home Loan Bank Board, including services as authorized by section 15 of the Act of August 2, 1946 (5 U.S.C. 60 Stat. 810. 55a), at rates not to exceed $100 per diem for individuals, and shall be derived from funds available to the Federal Home Loan Bank Board, including those in the Federal 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 P^ederal Reserve banks, the Federal Savings and Loan Insurance Corporation, and other agencies of the Government (including payment for office space): Provided, That all necessary expenses in connection with the conservatorship of institutions insured b j the Federal Savings and Loan Insurance Corporation or preparation for or conduct of proceedings under sec12 us"c f464
- ^^^ ^(^) of the Home Owners' I » a n Act of 1933 or section 407 or
64 Stat. 259; 73 408 of the National Housing Act and all necessary expenses (includ1730 Vioi^ ^^^ ^^^ services performed on a contract or fee basis, but not including other personal services) in connection with the handling, including fhe 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 47 Stat. 725. Loan Bank Act, as amended, shall be considered as nonadministrative 12 USC 1421. expenses for the purposes hereof: Provided further. That members and alternates of the Federal Savings and Ix)an Advisory Council shall be entitled to reimbursement from the Board as approved by the Board for transportation expenses incurred in attendance at meetings of or concerned with the work of such Council and may be paid not to exceed $25 per diem in lieu of subsistence: Provided further. That expenses of any functions of supervision (except of Federal homeloan banks) vested in or exercisable by the Board shall be considered n'^ nonadministrative expenses: 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, as amended (12 U.S.C. 1421-1449): Provided further. That the nonadministrative expenses (except those included in the first proviso hereof) for the supervision and examination of Federal and State chartered institutions (other than special examinations determined by the Board to be necessary) shall not exceed $10,366,000. LIMITATION ON ADMINISTRATIVE EXPENSES, FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION
Not to exceed $890,000 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 or preparation for or conduct of proceedings under section 407 or 408 of the National 1730a" ^ ^ ^^^^' Housing Act, liquidation or handling of assets of or derived from insured institutions, payment of insurance, and action for or toward
�
