Us Code § 323 - Investment of operating cash
Full text of Us Code United States Code § 323 — Investment of operating cash, with citation guidance and answers to common questions.
§ 323. Investment of operating cash
(a) To manage United States cash, the Secretary of the Treasury may invest any part of the operating cash of the Treasury for not more than 90 days. The Secretary may invest the operating cash of the Treasury in—
(1) obligations of depositories maintaining Treasury tax and loan accounts secured by pledged collateral acceptable to the Secretary;
(2) obligations of the United States Government; and
(3) repurchase agreements with parties acceptable to the Secretary.
(b) Subsection (a) of this section does not require the Secretary to invest a cash balance held in a particular account.
(c) The Secretary shall consider the prevailing market in prescribing rates of interest for investments under subsection (a)(1) of this section.
(d)(1) The Secretary of the Treasury shall submit each fiscal year to the appropriate committees a report detailing the investment of operating cash under subsection (a) for the preceding fiscal year. The report shall describe the Secretary's consideration of risks associated with investments and the actions taken to manage such risks.
(2) For purposes of paragraph (1), the term "appropriate committees" means the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 882; Pub. L. 110–351, title V, §502, Oct. 7, 2008, 122 Stat. 3980.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 323(a) | 31:1038(1st sentence less 1st, 2d provisos). | Oct. 28, 1977, Pub. L. 95–147, §1, 91 Stat. 1227. |
| 323(b) | 31:1038(1st, 2d provisos). | |
| 323(c) | 31:1038(last sentence). |
In subsection (a), before clause (1), the words "To manage United States cash" are substituted for "for cash management purposes" for clarity. In clause (1), the words "as security for tax and loan accounts" are omitted as unnecessary. In clause (2), the words "agencies of the United States" are omitted as being included in "the Government".
In subsection (c), the words "Investments in obligations of depositaries maintaining such accounts" and "rates of interest" (the 2d time they appear) are omitted as unnecessary because of the restatement.
Editorial Notes
Amendments
2008—Pub. L. 110–351 amended section generally. Prior to amendment, section related to investment of operating cash.
About This Section
31 U.S.C. § 323 is part of Title 31 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
This section may be cited in legal writing as 31 U.S.C. § 323. For the most current official text, including any recent amendments, use the official source links below. Do not rely on this page as the sole authority for legal citation or litigation.
How to Read This Statute
Statutes are organized by title, chapter, section, and subsection. Pay attention to words like "shall," "may," "and," and "or," because they determine whether a requirement is mandatory or permissive and whether multiple conditions must all be met. Historical notes and amendments often appear at the end of a section.
Using This Page
This page is intended for research and educational use. Lawyers, students, journalists, and compliance professionals can use it as a starting point, but should always verify the current text through an official government source before relying on it for legal advice, filings, or compliance decisions.