Definition of "Borrowing authority of pension benefit guaranty corporation (pbgc)"
Patti Bowman & Lisa Bowman Zeiter, Associate Brokers, Real Estate Agent
Group One Sotheby’s International Realty
Authorization to borrow from the U.S. Treasury by the issuance of notes to the Treasury. The Secretary of the Treasury must approve the notes and their interest rates. The PBGC must be self supporting through the premium it charges for various plans and thus its notes carry the same obligations of any notes, in that they are expected to be repaid.
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