Page:United States Statutes at Large Volume 107 Part 3.djvu/418

 107 STAT. 2356 PUBLIC LAW 103-202—DEC. 17, 1993 "(A) A description of the various categories of the holders of public debt obligations. "(B) The portions of the total public debt held by each of such categories. "(5) A table showing the relationship of federsdly assisted borrowing to total Federal borrowing as of the time the report is submitted and for prior years. "(6) A table showing the annual principal and interest payments which would be required to amortize in equal annual payments the level (as of the time the report is submitted) of the net public debt over the longest remaining term to maturity of any obligation which is a part of such debt. "(c) REQUIRED INFORMATION ON FEDERAL FINANCING BANK.— Each report submitted under subsection (a) shall include (but not be limited to) information on the financial operations of the Federal Financing Bank, including loan payments and prepayments, and on the levels and categories of the lending activities of the Federal Financing Bank, for the current fiscal year and for prior fiscal years. "(d) RECOMMENDATIONS.— The Secretary of the Treasury may include in any report submitted under subsection (a) such recommendations to improve the issuance and sale of public debt obligations (and with respect to other matters) as he may deem advisable. "(e) DEFINITIONS. —For purposes of this section— "(1) CURRENT FISCAL YEAR.— The term 'current fiscal year* means the fiscal year ending in the calendar year in which the report is submitted. "(2) TOTAL PUBLIC DEBT. — The term 'total public debt' means the total amount of the obligations subject to the public debt limit established in section 3101 of this title. "(3) NET PUBLIC DEBT.— The term 'net public debt' means the portion of the total public debt which is held by the public. "(4) DEBT TO GDP RATIO. —The term 'debt to GDP ratio' means the percentage obtained by dividing the level of the total public debt or net public debt, as the case may be, by the gross domestic product. "(5) INTEREST COST TO OUTLAY RATIO.—The term 'interest cost to outlay ratio' means, with respect to any fiscal year, the percentage obtained by dividing the interest cost for such fiscal year on the net public debt by the total amount of Federal outlays for such fiscal year.". (b) CLERICAL AMENDMENT. — The analysis for subchapter II of chapter 31 of title 31, United States Code, is amended by adding at the end the following new item: "3130. Annual public debt report. ". 31 USC 3121 SEC. 202. TREASURY AUCTION REFORMS. "°*® (a) ABILITY TO SUBMIT COMPUTER TENDERS IN TREASURY AUC- TIONS. — By the end of 1995, any bidder shall be permitted to submit a computer-generated tender to any automated auction system established by the Secretary of the Treasury for the sale upon issuance of securities issued by the Secretary if the bidder— (1) meets the minimum creditworthiness standard established by the Secretary; and

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