Government National Mortgage Association

Government National Mortgage Association guarantees of mortgage-backed securities loan guarantee program account (includes transfer of funds) During fiscal year 1992, new commitments to issue guarantees to carry out the purposes of section 306 of the National Housing Act, as amended (12 U.S.C. 1721g), shall not exceed $74,769,293,000. For administrative expenses necessary to carry out the guaranteed mortgage-backed securities program, $6,595,000, to be derived from the GNMA—Guarantees of mortgage-backed securities guaranteed loan receipt account, of which not to exceed $6,595,000 may be transferred to and merged with the appropriation for salaries and expenses.