Regulations last checked for updates: Nov 23, 2024

Title 12 - Banks and Banking last revised: Nov 20, 2024
§ 313.160 - Treasury notification.

(a) In accordance with 31 U.S.C. 3716,the,as,to. This includes debts the FDIC seeks to recover from the pay account of an employee of another agency by means of salary offset.

(b) For purposes of centralized administrative offset, a claim or debt is not delinquent if:

(1) It is in litigation or foreclosure;

(2) It will be disposed of under an asset sale program within one year after becoming eligible for sale;

(3) It has been referred to a private collection contractor for collection;

(4) It has been referred to a debt collection center;

(5) It will be collected under internal offset, if such offset is sufficient to collect the claim within three years after the date the debt or claim is first delinquent; and

(6) It is within a specific class of claims or debts which the Secretary of the Treasury has determined to be exempt, at the request of an agency.

authority: 5 U.S.C. 5514; 12 U.S.C. 1818(i), 1819(a); Pub. L. 104-134, 110 Stat. 1321 (31 U.S.C. 3701,3711,3716
source: 67 FR 48527, July 25, 2002, unless otherwise noted.
cite as: 12 CFR 313.160