Discussion
What is the full form of "FFB"?
Answer: B
Correct answer: Federal Financing Bank
The Federal Financing Bank was created by the United States Congress in 1973 within the Treasury, to centralise and co-ordinate the borrowing of federal agencies.
Before it, each agency issued its own debt, competing with the Treasury and with one another and paying more than the government's own cost of funds. The FFB buys their obligations and funds itself through the Treasury, so the borrowing is consolidated and cheaper. It is a debt management vehicle rather than a lender to the public.
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