12 CFR 313.160 - Treasury notification.
prev | next
(a) In accordance with 31 U.S.C. 3716, the FDIC as a creditor agency must notify the Secretary of the Treasury of all debts that are delinquent (over 180 days past due), as defined in the FCCS, to enable the Secretary to seek collection by centralized administrative offset. This includes debts the FDIC seeks to recover from the pay account of an employee of another agency by means of salary offset.
(2) It will be disposed of under an asset sale program within one year after becoming eligible for sale;
(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
Title 12 published on 2014-01-01
no entries appear in the Federal Register after this date.