,i #aah? ,,congress #b;d ,session ,h4 ,r4 #ijdj ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,july #ae1 #bjbd,mr4 ,donalds 7= himself & ,mr4 ,kri%namoor?i7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ov]sight & ,acc\ntability ,a ,,bill ,to require cov]$ ag5cies to issue /rategy & implem5tation plans = ! transf] ( cr$it1 gu>antee1 & insurance risk to ! private sector1 to require ! implem5tation ( su* plans1 & = o!r purposes4 #a4 ,transf] ( ,gov]nm5t cr$it1 gu>antee1 & insurance risk to ! private sector 7a7 ,gov]nm5t risk managem5t policy /atem5t 7#a7 ,m9imization ( gov]nm5t risk ,x is ! policy ( ! ,unit$ ,/ates to assess1 r$uce & m9imize ! cr$it1 gu>antee1 & insurance risk ( ,f$]al ,gov]nm5t programs 9 ea* ag5cy on an ongo+ basis to ! maximum ext5t practical by transf]r+ all su* risk to ! private sector at m>ket t]ms ?r\gh a v>iety ( f9ancial in/rum5ts 9 a su/a9$ & transp>5t mann]4 7#b7 ,use ( private risk capacity ,9 ! developm5t & adm9i/ration ( ,f$]al ,gov]nm5t programs & aw>ds 9 ea* ag5cy1 x is ! policy ( ! ,unit$ ,/ates to r$uce co/s to taxpay]s & to protect taxpay]s aga9/ cata/rophic losses ?r\gh prud5t & e/abli%$ risk managem5t te*niques1 includ+ ! frequ5t assessm5t ( ,f$]al cr$it1 gu>antee & insurance risks1 & :]e appropriate1 ! transf] ( risk to private m>kets to ! maximum ext5t practical4 7b7 ,/rategy & implem5tation plan 7#a7 ,9 g5]al ,n lat] ?an #ab mon?s aft] ! date ( ! enactm5t ( ?is ,act1 & n less frequ5tly ?an once e #e ye>s !reaft]1 ! head ( ea* cov]$ ag5cy %all submit to ! ,director ( ! ,(fice ( ,managem5t & ,budget1 & publi% 9 ! ,f$]al ,regi/]1 a /rategy & implem5tation plan t includes ! foll[+3 7,a7 ,an id5tification ( any b>ri] 7includ+ any policy1 law1 or regulation7-- 7i7 to transf]r+ cr$it1 gu>antee1 & insurance risk ( ! cov]$ ag5cy to ! private sector2 & 7ii7 t w\ld prohibit ! cov]$ ag5cy f pay+ any co/s associat$ ) su* transf]4 7,b7 ,an implem5tation plan = address+ any su* b>ri] or1 9 ! case ( a ,f$]al /atute t is a b>ri]1 a legislative recomm5dation to ,congress = remov+ ! b>ri]4 7,c7 ,an id5tification ( ea* (fice or division )9 ! cov]$ ag5cy pr9cipally responsible = programs "u :i* ! cov]$ ag5cy has cr$it1 gu>antee1 or insurance risk4 7,d7 ,an analysis ( ! use & developm5t ( private sector capabilities to developm5t & adm9i/] programs "u :i* ! cov]$ ag5cy has cr$it1 gu>antee1 or insurance risk4 7,e7 ,! e/imat$ co/ or sav+s ( transf]r+ cr$it1 gu>antee1 & insurance risk ( ! cov]$ ag5cy to ! private sector1 includ+ ! expect$ annual co/ or sav+s-- 7i7 dur+ a normal ye>2 7ii7 dur+ a ye> :]e ! losses due to defaults on su* cr$it1 gu>antee1 or insurance are l[] ?an normal2 & 7iii7 dur+ a ye> :]e ! losses due to defaults on su* cr$it1 gu>antee1 or insurance are high] ?an normal4 7#b7 ,public comm5t ,! head ( ea* cov]$ ag5cy %all provide a #fj-;day p]iod = public comm5t on any /rategy & implem5tation plan describ$ 9 p>agraph 7#a7 be=e ! date on :i* ! report is publi%$ 9 ! ,f$]al ,regi/]4 7c7 ,implem5tation 7#a7 ,9 g5]al ,! head ( ea* cov]$ ag5cy may implem5t a /rategy & implem5tation plan submitt$ "u subsection 7b7 to transf] cr$it1 gu>antee1 & insurance risk ( ! cov]$ ag5cy to ! private sector4 7#b7 ,requirem5ts ,9 any transf] describ$ "u p>agraph 7#a71 ! head ( a cov]$ ag5cy %all make su* transf]-- 7,a7 "u m>ket t]ms2 & 7,b7 9 a transp>5t mann]4 7#c7 ,prohibition on transf]s t w\ld increase c]ta9 co/s ,! head ( a cov]$ ag5cy may n make a transf] describ$ "u p>agraph 7#a7 if su* transf] w\ld directly result 9 an increas$ fee1 premium1 or o!r co/ to an individual4 7d7 ,reports 7#a7 ,reports by private sector entities to cov]$ ag5cies 7,a7 ,9 g5]al ,! head ( ea* cov]$ ag5cy %all require any private sector entity to :i* ! cov]$ ag5cy transf]s cr$it1 gu>antee1 or insurance risk "u subsection 7c7 to submit to ! cov]$ ag5cy a regul> report t includes a description ( any claim receiv$ by ! private sector entity ) respect to ! transf]r$ cr$it1 gu>antee1 or insurance risk1 includ+ any am\nt paid = any su* claim4 7,b7 ,availability ( report ,ea* report describ$ "u subp>agraph 7,a7 %all be made available1 ^u reque/1 to ! ,director ( ! ,(fice ( ,managem5t & ,budget & ,congress4 7#b7 ,,omb report ,n lat] ?an #ah mon?s aft] ! date ( ! enactm5t ( ?is ,act1 & n less frequ5tly ?an once e #e ye>s !reaft]1 ! ,director ( ! ,(fice ( ,managem5t & ,budget %all submit to ! ,presid5t & ! ,congress a report conta9+ ! foll[+3 7,a7 ,a li/ ( cr$it1 gu>antee1 & insurance obligations "u ! managem5t or control ( ea* cov]$ ag5cy4 7,b7 ,a li/ ( ea* cr$it1 gu>antee1 & insurance risk transf] program = ea* cov]$ ag5cy1 ) a summ>y (-- 7i7 ! e/imat$ sav+s to ! ,f$]al ,gov]nm5t relat$ to loss claims associat$ ) ! transf]r$ cr$it1 gu>antee1 or insurance risk2 & 7ii7 ! co/ paid by ! cov]$ ag5cy to make su* transf]4 7,c7 ,! curr5t & aggregate totals ( cr$it1 gu>antee1 & insurance risk transf]r$ to ! private sector on & aft] ! date ( ! enactm5t ( ?is ,act4 7,d7 ,any recomm5dations to enhance or exp& ! programs describ$ 9 subp>agraph 7,b74 7e7 ,cov]$ ag5cy def9$ ,9 ?is section1 ! t]m cov]$ ag5cy-- 7#a7 means an ag5cy 7z def9$ "u section #cejb ( title #dd1 ,unit$ ,/ates ,code7 t is responsible = ! adm9i/ration ( any cr$it1 gu>antee1 or insurance program2 7#b7 means ! ,f$]al ,national ,mortgage ,association & ! ,f$]al ,home ,loan ,mortgage ,corporation dur+ any p]iod 9 :i* su* ent]prise is "u cons]vator%ip or receiv]%ip pursuant to section #acfg ( ! ,f$]al ,h\s+ ,ent]prises ,f9ancial ,safety & ,s\ndness ,act ( #aiib 7#ab ,u4,s4,c4 #dfag72 & 7#c7 does n include-- 7,a7 ! ,social ,security ,adm9i/ration2 or 7,b7 ! ,c5t]s = ,m$ic>e ,m$icaid ,s]vices4