ISSUING AUTHORITY, DIRECT INVESTMENTS, AND ADMINISTRATIVE EXPENSES.

SEC. 104. ISSUING AUTHORITY, DIRECT INVESTMENTS, AND ADMINISTRATIVE EXPENSES. (a) Issuing Authority and Direct Investment Authority.— Section 235 of the Foreign Assistance Act of 1961 (22 U.S.C. 2195) is amended— (1) “Authority”; (2) by amending subsection (a) to read as follows: “(a) Issuing Authority.— “(1) Insurance.— The maximum contingent liability outstanding at any one time pursuant to insurance issued under section 234(a) shall not exceed in the aggregate $9,000,000,000. “(2) Guarantees.— (A) The maximum contingent liability outstanding at any one time pursuant to guarantees issued under section 234(b) shall not exceed in the aggregate $2,500,000,000. “(B) Subject to spending authority provided in appropriations Acts, pursuant to section 504(b) of the Federal Credit Reform Act of 1990, the Corporation is authorized— “(i) to transfer $9,800,000, or such sums as are necessary, from its noncredit account revolving fund to pay for the subsidy cost of a program level for the loan and loan guarantee program under subsections (b) and (c) of section 234 of $650,000,000 for fiscal year 1993; and “(ii) to transfer such sums as are necessary from its noncredit account revolving fund to pay for the subsidy cost of a program level for the loan and loan guarantee program under subsections (b) and (c) of section 234 of $850,000,000 for fiscal year 1994. “(3) Termination of authority.— The authority of subsections (a) and (b) of section 234 shall continue until September 30, 1994”; and (3) by repealing subsection (b). (b) Administrative Expenses.— Section 235 of such Act is amended by adding at the end the following: “(g) Administrative Expenses.—Subject to spending authority provided in appropriations Acts, the Corporation is authorized to raw from its noncredit account revolving fund for the administrative costs of its direct loan and loan guarantee programs— “(1) $8,128,000 for fiscal year 1993; and “(2) $11,000,000 for fiscal year 1994”.