15 USC 9060 - Reports

U.S Code last checked for updates: Oct 17, 2024

§ 9060.

Reports

(a)

Disclosure of transactions

Not later than 72 hours after any transaction by the Secretary under paragraph (1), (2), or (3) of section 9042(b) of this title, the Secretary shall publish on the website of the Department of the Treasury—

(1)

a plain-language description of the transaction, including the date of application, date of application approval, and identity of the counterparty;

(2)

the amount of the loan or loan guarantee;

(3)

the interest rate, conditions, and any other material or financial terms associated with the transaction, if applicable; and

(4)

a copy of the relevant and final term sheet, if applicable, and contract or other relevant documentation regarding the transaction.

(b)

Reports

(1)

To Congress

(A)

In general

In addition to such reports as are required under section 5302(c) of title 31, not later than 7 days after the Secretary makes any loan or loan guarantee under paragraph (1), (2), or (3) of section 9042(b) of this title, the Secretary shall submit to the Chairmen and Ranking Members of the Committee on Banking, Housing, and Urban Affairs and the Committee on Finance of the Senate and the Chairmen and Ranking Members of the Committee on Financial Services and the Committee on Ways and Means of the House of Representatives a report summarizing—

(i)

an overview of actions taken by the Secretary under paragraph (1), (2) or (3) of section 9042(b) of this title during such period;

(ii)

the actual obligation, expenditure, and disbursements of the funds during such period; and

(iii)

a detailed financial statement with respect to the exercise of authority under paragraph (1), (2) or (3) of section 9042(b) of this title showing—

(I)

all loans and loan guarantees made, renewed, or restructured;

(II)

all transactions during such period, including the types of parties involved;

(III)

the nature of the assets purchased;

(IV)

a description of the vehicles established to exercise such authority; and

(V)

any or all repayment activity, delinquencies or defaults on loans and loan guarantees issued under paragraph (1), (2) or (3) of section 9042(b) of this title.

(B)

Publication

(C)

30-day reports

(2)

Board of Governors

(A)

In general

With respect to any program or facility described in paragraph (4) of section 9042(b) of this title, the Board of Governors of the Federal Reserve System shall provide to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives such reports as are required to be provided under section 343(3) of title 12—

(i)

not later than 7 days after the Board authorizes a new facility or other financial assistance in accordance with section 343(3)(C)(i) of title 12; and

(ii)

once every 30 days with respect to outstanding loans or financial assistance in accordance with section 343(3)(C)(ii) of title 12.

(B)

Publication

(c)

Testimony

(d)

Program descriptions

(e)

Administrative contracts

(f)

Government Accountability Office

(1)

Study

(2)

Report

(Pub. L. 116–136, div. A, title IV, § 4026, Mar. 27, 2020, 134 Stat. 494; Pub. L. 117–103, div. HH, title III, § 301, Mar. 15, 2022, 136 Stat. 1113.)

cite as: 15 USC 9060