ᐔᚑ22ᐕᐲળ⸘ᬌᩏ㒮ᆔ⸤ᬺോႎ๔ᦠ
ࠕࡔࠞ߮ࠗࠡࠬߦ߅ߌࠆ╷㊄Ⲣߦ
ኻߔࠆળ⸘ᬌᩏߩ⁁ᴫߦ㑐ߔࠆ⺞ᩏ⎇ⓥ
غع⋡ᰴعغ
ႎ๔ᦠⷐ
...1
ߪߓߦ
...3
1㧚⺞ᩏ⎇ⓥߩ⢛᥊⋡⊛... 3
2㧚⺞ᩏ⎇ⓥߩᣇᴺ... 4
3㧚ᧄႎ๔ᦠߩ᭴ᚑ... 6
I
㧚☨⧷
2
߆࿖ߦ߅ߌࠆ╷㊄Ⲣߩⷐ
...7
1㧚 ☨࿖ߦ߅ߌࠆ╷㊄Ⲣߩⷐߣ․ᓽ... 7
㧔1㧕╷㊄Ⲣߩో㊀ὐಽ㊁... 7
㧔2㧕⚵❱... 20
㧔3㧕ᴺࠟࠗ࠼ࠗࡦ╬... 21
2㧚 ⧷࿖ߦ߅ߌࠆ╷㊄Ⲣߩⷐߣ․ᓽ... 22
㧔1㧕╷㊄Ⲣߩో㊀ὐಽ㊁... 22
㧔2㧕ᴺࠟࠗ࠼ࠗࡦ╬... 31
3㧚 ☨⧷2߆࿖ߦ߅ߌࠆࠨࡉࡊࠗࡓࡠࡦࠍ⊒┵ߣߔࠆᦨㄭߩ㊄Ⲣෂᯏߦኻߔࠆኻᔕ╷. 42 㧔1㧕☨࿖ߦ߅ߌࠆኻᔕ╷... 42
㧔2㧕⧷࿖ߦ߅ߌࠆኻᔕ╷... 54
II
㧚☨⧷
2
߆࿖ߦ߅ߌࠆ╷㊄Ⲣߦኻߔࠆળ⸘ᬌᩏ╬ߩ⁁ᴫ
...59
1㧚☨࿖ળ⸘ᬌᩏ㒮ߦ߅ߌࠆ╷㊄Ⲣߦኻߔࠆᬌᩏ╬ߩ⁁ᴫ... 59
㧔1㧕ᬌᩏ... 59
㧔2㧕ᬌᩏోะ... 62
㧔3㧕ᬌᩏ⚦ಽᨆ... 80
ޣ☨࿖GAOԘޤ ࡈࠔ࠾ࡔࠗࡈ࠺ࠖࡑ࠶ࠢ㧦㐳ᦼ⊛᭴ㅧᡷ㕟ߩߚߩಽᨆ... 81
ޣ☨࿖GAOԙޤ ㄘၞ⚻ᷣ㐿⊒㧦ਛዊડᬺᐡߣㄘോ⋭ߣߩදജߪᡷༀน⢻... 87
ޣ☨࿖GAOԚޤ ㅪ ㇌ 㗍 ㊄ 㒾 ᴺ 㧦 ࠪ ࠬ ࠹ ࡒ ࠶ ࠢ ࠬ ࠢ ࠛ ࠢ ࡊ ࠪ ࡚ ࡦ ߪ ࡕ ࡞ ࡂࠩ࠼ࠍ↢ ᔨࠅޔ᧦ᢥ⏕ൻߩᔅⷐᕈ... 92
ޣ☨࿖GAOԛޤ ਛዊડᬺᐡ㧦7㧔a㧕Ⲣ⾗ࡊࡠࠣࡓߩᬺ❣⹏ଔߦㅊട⊛ᜰᮡߩᔅⷐᕈ... 97
ޣ☨࿖GAOԜޤ ਛ ዊ ડ ᬺ ᐡ 㧦 ⾉ ߒ ᚻ ࠬ ࠢ ࠹ ࠖ ࡦ ࠣ ࠪ ࠬ ࠹ ࡓ ߩ ଢ ᕈ ᡷ ༀ ភ ⟎ߩᔅⷐᕈ... 104
ޣ☨࿖GAOԝޤ ਛ ዊ ડ ᬺ ᐡ 㧦 ઁ ᯏ 㑐 ߆ ࠄ ߩ ୫ ᗧ ᕁ ቯ ࠍ ᢥ ᦠ ൻ ߔ ࠆ ࠟ ࠗ ࠼ ࠗ ࡦ ߩ ㅊടߦࠃࠅࡊࡠࠣࡓ⋙ⷞߪᡷༀน⢻...111
ޣ☨࿖GAOԟޤ ࿖ 㓙 ⾏ ᤃ 㧦 ല ᨐ ⊛ ߥ ャ ࡊ ࡠ ࠣ ࡓ ߦ ࠃ ߞ ߡ ☨ ࿖ ߩ ⚻ ᷣ ᚑ 㐳 ⋡ ᮡ ㆐ ᚑ
ࠍᓟߒ... 120
2㧚☨࿖ฦ⋭ᐡ⋙ኤ✚⋙ߦ߅ߌࠆ╷㊄Ⲣߦኻߔࠆᬌᩏ╬ߩ⁁ᴫ... 123
㧔1㧕ᬌᩏ... 123
㧔2㧕ᬌᩏోะ... 125
㧔3㧕ᬌᩏ⚦ಽᨆ... 130
ޣ☨࿖IG㧦Ԙޤ ㅪ ㇌ ቛ ዪ ߦ ࠃ ࠆ ቛ ⾗ ↥ ォ ឵ ࡕ ࠥ ࠫ ߩ ⾉ ᯏ 㑐 㒾 ᒁ ฃ ߩ ⋙ ⷞ ߪචಽ... 130
ޣ☨࿖IG㧦ԙޤ ਇേ↥ᜂ⸽ࡊࡠࠣࡓߩᢥᦠࡆࡘ... 133
ޣ☨࿖IG㧦ㄘԘޤ ࠹ࠠࠨࠬᎺߦ߅ߌࠆ㓸วቛࡠࡦ... 135
ޣ☨࿖IG㧦ㄘԙޤ ㄘ ോ ⋭ ߦ ࠃ ࠆ ⼺ 㘃 ↢ ↥ ࡠ ࡦ ࡊ ࡠ ࠣ ࡓ ߩ ㅪ ㇌ Ꮊ ࡠ ࡦ ₸ ߩ ▚ ቯ ᚻᴺ... 137
ޣ☨࿖IG㧦ㄘԚޤ ࠝࠢࡎࡑၞ⾓⾉ቛ▤ℂળ␠ߦ㑐ߔࠆⷐ⺧⋙ᩏ... 139
ޣ☨࿖IG㧦ㄘԛޤ ၞ⸳ዪࡉࡠ࠼ࡃࡦ࠼ࡠࡦା↪⸽ࡊࡠࠣࡓ... 141
ޣ☨࿖IG㧦ᢎԘޤ ⒢ ௌ ߦ ࠃ ࠅ ⾗ ㊄ ଏ ⛎ ߐ ࠇ ࠆ ࡠ ࡦ ߦ ኻ ߔ ࠆ ☨ ࿖ ᅑ ቇ ⾗ ㊄ ㊄ ᐶ ሶ ળ ␠Nellie Mae␠߳ߩ․ഀᒰ⛎ઃ㊄... 143
ޣ☨࿖IG㧦ᢎԙޤ ࠙ ࠜ ࡞ ࠺ ࡦ ᄢ ቇ ߦ ߅ ߌ ࠆ ․ ቯ ߩ ⷙ ߮ ᢎ ⢒ ⋭ ߩ ࠟ ࠗ ࠳ ࡦ ࠬ ߩ ㆩ ⁁ᴫ... 145
ޣ☨࿖IG㧦ᢎԚޤ ㅪ ㇌ ኅ ᣖ ᢎ ⢒ ࡠ ࡦ ࡊ ࡠ ࠣ ࡓ ߦ ߅ ߌ ࠆ ਇ ㆡ ᱜ ᡰ ⛎ ߩ ㅪ ㇌ ቇ ↢ ᡰ េ ዪ ߦࠃࠆផ⸘... 147
ޣ☨࿖IG㧦ਛԘޤ National Guaranty Purchase Centerߦ߅ߌࠆௌᮭ⾼⸥㍳ߩࡆࡘߦ㑐 ߔࠆSBAߩ▤ℂ... 149
ޣ☨࿖IG㧦ਛԙޤ 㐿⊒␠ࡠࡦߩਛዊડᬺᐡߦࠃࠆᷡ▚... 152
ޣ☨࿖IG㧦ਛԚޤ 2008 ᐕߩࡒ࠶࠼࠙ࠛࠬ࠻ߩᵩ᳓ߦኻߔࠆἴኂᡰេࡠࡦߦ߅ߌࠆἴኂ 㒾ߩࠝࡈ࠶࠻ߩㆡ↪... 155
ޣ☨࿖IG㧦ਛԛޤ ࠟ࡞ࡈࠦࠬ࠻ἴኂࡠࡦၮ㊄ߩ↪... 157
ޣ☨࿖IG㧦ࠛԘޤ ࠛࡀ࡞ࠡ⋭ߩ㕟ᣂ⊛ࠛࡀ࡞ࠡᛛⴚߦኻߔࠆௌോ⸽ࡊࡠࠣࡓ... 160
3㧚⧷࿖ળ⸘ᬌᩏ㒮ߦ߅ߌࠆ╷㊄Ⲣߦኻߔࠆᬌᩏ╬ߩ⁁ᴫ... 163
㧔1㧕ᬌᩏ... 163
㧔2㧕ᬌᩏోะ... 166
㧔3㧕ᬌᩏ⚦ಽᨆ... 168
ޣ⧷࿖NAOԘޤ 㘈ቴఝవࡊࡠࠣࡓ㧦ቇ↢ࡠࡦߩឭଏ... 169
ޣ⧷࿖NAOԙޤ ᥊᳇ᓟㅌᦼߩડᬺᡰេ... 175
ޣ⧷࿖NAOԚޤ ਛዊડᬺ߳ߩࡌࡦ࠴ࡖᛩ⾗ᡰេ... 178
ޣ⧷࿖NAOԛޤ ਛዊડᬺߩᡰេ... 181
ޣ⧷࿖NAOԝޤ ࠗࡦࠣࡦ࠼ߦ߅ߌࠆㄘᬺࡆࠫࡀࠬߩᡰេ... 191
4㧚ᦨㄭߩ㊄Ⲣෂᯏߦኻߔࠆᬌᩏ╬ߩ⁁ᴫ... 196
㧔1㧕INTOSAI࠲ࠬࠢࡈࠜࠬߢߩ⼏⺰... 196
㧔2㧕☨࿖㧔TARPARRAߦኻߔࠆᬌᩏ㧕... 198
ԘTARP㧔Troubled Asset Relief Program㧕ߦኻߔࠆᬌᩏ... 198
ԙARRA㧔American Recovery and Reinvestment Act㧕ߦኻߔࠆᬌᩏ... 207
III
㧚߹ߣ
...221
1㧚☨⧷2߆࿖ߦ߅ߌࠆ╷㊄Ⲣߩ․ᓽ... 221
㧔1㧕╷㊄Ⲣߩⷙᮨ... 221
㧔2㧕╷㊄Ⲣߩታᣉᯏ㑐... 223
㧔3㧕╷㊄Ⲣߩᣇᑼ... 224
㧔4㧕ᦨㄭߩ㊄Ⲣෂᯏߦኻߔࠆኻᔕ╷... 225
2㧚☨⧷2߆࿖ߦ߅ߌࠆ╷㊄Ⲣߦኻߔࠆᬌᩏ╬ߩ․ᓽ... 226
㧔1㧕ᬌᩏߩ... 226
㧔2㧕ᬌᩏߩ⌕⌒ὐ㧔ㅢ㧕... 228
㧔3㧕ᬌᩏߩ⌕⌒ὐ㧔㧕... 236
㧔4㧕ᬌᩏߩᣇᴺ... 242
3㧚ᚒ߇࿖ળ⸘ᬌᩏ㒮ߦኻߔࠆ␜ໂ... 244
ع↪⺆㓸
غعႎ๔ᦠⷐعغ
1
㧚⺞ᩏ⎇ⓥߩ⢛᥊⋡⊛
ᧄ⺞ᩏ⎇ⓥߪޔ☨࿖߮⧷࿖ࠍ⺞ᩏኻ⽎࿖ߣߒߡޔฦ࿖ਛᄩᐭ߇ផㅴߔࠆ╷㊄Ⲣ
ᐲ㧔⋥ធⲢ⾗ௌോ⸽㧕ߩⷐߣ․ᓽޔ߮ߘࠇߦኻᔕߒߡฦ࿖ળ⸘ᬌᩏ㒮㧔☨࿖ߩ႐
วߪฦ⋭ᐡߩ⋙ኤ✚⋙ቶࠍ㧕߇ⴕߞߡࠆ╷㊄Ⲣߦኻߔࠆᬌᩏ⋙ᩏߩޔౕ
⊛ߥᬌᩏ⋙ᩏ╬ߩታᣉ⁁ᴫߦߟߡޔᢥ₂ࠗࡦ࠲ࡀ࠶࠻⺞ᩏ߮ᶏᄖ⺞ᩏߦࠃ
ࠅಽᨆࠍⴕޔᚒ߇࿖ળ⸘ᬌᩏ㒮߇╷㊄Ⲣߦଥࠆᬌᩏࠍⴕ߁㓙ߦෳ⠨ߣߒ߁ࠆ⋉ߥᖱ
ႎࠍឭଏߔࠆߎߣࠍ⋡⊛ߣߔࠆޕ
2
㧚⺞ᩏ⎇ⓥߩᣇᴺ
ᧄ⺞ᩏ⎇ⓥߢߪޔᢥ₂ࠗࡦ࠲ࡀ࠶࠻⺞ᩏ߮ᶏᄖ⺞ᩏࠍⴕߞߚޕ
ᢥ₂ࠗࡦ࠲ࡀ࠶࠻⺞ᩏߢߪޔฦ࿖ߩ⋭ᐡ࠙ࠛࡉࠨࠗ࠻߿⾗ᢱޔᚒ߇࿖ߩฦ⒳ᢥ
₂ႎ๔ᦠࠍਛᔃߦޔ╷㊄Ⲣᐲߩᩮⷙ⒟ޔ․ᓽޔ╷㊄Ⲣࠍᜂ߁ᯏ㑐╬ߦߟߡ
ⷰߒߚޕ߹ߚޔ╷㊄Ⲣߦଥࠆᬌᩏ⋙ᩏႎ๔ߦߟߡขࠅ߹ߣߚޕ
⺞ᩏኻ⽎࿖ਛޔ☨࿖ߦߟߡߪޔળ⸘ᬌᩏ㒮㧔Government Accountability Office㧦GAO㧕ޔ
ⴕ ▤ ℂ ੍ ▚ ᐡ 㧔Office of Management and Budget㧦OMB㧕 ޔ ⽷ ോ ⋭ 㧔Department of Treasury㧕 ޔ ਛ ዊ ડ ᬺ ᐡ 㧔Small Business Administration㧦SBA㧕 ㄘ ോ ⋭ 㧔Department of Agriculture㧦USDA㧕ᢎ⢒⋭㧔Department of Education㧦ED㧕ࠛࡀ࡞ࠡ⋭㧔Department
of Energy㧦DOE㧕ߩฦ⋙ኤ✚⋙ቶߦኻߒߡኻ㕙ᑼࠗࡦ࠲ࡆࡘ⺞ᩏࠍታᣉߒߚޕ
3
㧚⺞ᩏ⎇ⓥߩ⚿ᨐ
ع╙I┨ ☨⧷2߆࿖ߦ߅ߌࠆ╷㊄Ⲣߩⷐ
⺞ᩏኻ⽎࿖ߣߒߚ☨⧷ 2 ߆࿖ߦ߅ߌࠆ╷㊄Ⲣᐲߦߟߡޔోࠍᛠីߔࠆߣߣ߽
ߦޔ⺞ᩏኻ⽎࿖ߦ߅ߡ╷㊄Ⲣታോࠍᜂ߁ᐭᯏ㑐ᐭ♽㊄Ⲣᯏ㑐߿ᐲᚲ▤⋭ᐡ╬
ߩ⚵❱ޔᐲᩮߣߥࠆᴺޔࠟࠗ࠼ࠗࡦ╬ߦߟߡᢛℂߒߚޕ߹ߚޔਔ࿖ߦ߅ߌ
ࠆᦨㄭߩ㊄Ⲣෂᯏߦኻߔࠆኻᔕ╷߮㑐ㅪߔࠆ⋙ⷞߦߟߡ߹ߣߚޕ
ع╙II┨ ☨⧷2߆࿖ߦ߅ߌࠆ╷㊄Ⲣߦኻߔࠆળ⸘ᬌᩏ╬ߩ⁁ᴫ
⺞ᩏኻ⽎࿖ߣߒߚ☨⧷ 2 ߆࿖ߦ߅ߌࠆ╷㊄Ⲣߦኻߔࠆળ⸘ᬌᩏ╬ߩേะߦߟ
ߡᢛℂߒߚޕౕ⊛ߦߪޔ߹ߕฦ࿖ળ⸘ᬌᩏ㒮㧔☨࿖ߦߟߡߪฦ⋭ᐡ⋙ኤ✚⋙ࠍ㧕
ߦ߅ߌࠆ╷㊄Ⲣߦኻߔࠆᬌᩏߣޔ⋥ㄭ㧔2009 ᐕ㧕ߦታᣉߐࠇߚᬌᩏႎ๔߆ࠄޔ
╷㊄Ⲣߦኻߔࠆᬌᩏߩో⊛ะࠍᛠីߒޔߘߩ৻ㇱߩߦߟߡޔߘࠇߙࠇߩᬌᩏ
☨࿖ળ⸘ᬌᩏ㒮
㧔GAO㧕
╷㊄Ⲣ ㊄Ⲣෂᯏ
☨࿖ฦ⋭ᐡ⋙ኤ✚⋙ቶ
㧔OIG㧕
⧷࿖ળ⸘ᬌᩏ㒮
㧔NAO㧕
ะಽᨆ
23
㧔2009ᐕᐲ16㧕
㧔ߘࠇએᄖ7㧕
̆̆
37
㧔5⋭ᐡ㧕
13
⚦ಽᨆ
8 12
㧔TARP 6㧕 㧔ARRA 6㧕
14
㧔5⋭ᐡ㧕
6
ع╙III┨ ߹ߣ
╙ I ┨߮╙ II ┨ߢߩᢛℂಽᨆߦၮߠ߈ޔ⺞ᩏኻ⽎࿖ߦ߅ߌࠆ╷㊄Ⲣᐲߩ․ᓽߦ
ߟߡⷰߒߚޕᰴߦޔળ⸘ᬌᩏ㒮╬ߦࠃࠆ╷㊄Ⲣߦ߅ߌࠆᬌᩏ╬ߩะࠍޔ⌕
⌒ὐᣇᴺߦߟߡขࠅ߹ߣߚޕ
߹ߚޔ⺞ᩏߩ⚿ᨐࠍ〯߹߃ޔᚒ߇࿖ળ⸘ᬌᩏ㒮߇╷㊄Ⲣߦ㑐ߔࠆᬌᩏࠍⴕ߁ߢߩ␜
ߪߓߦ
1
㧚⺞ᩏ⎇ⓥߩ⢛᥊⋡⊛
ᚒ߇࿖ߢߪޔᓥ᧪߆ࠄޔ৻⥸ߩ㊄Ⲣᯏ㑐߆ࠄ⾗㊄ߩଏ⛎ࠍฃߌࠆߎߣ߇࿎㔍ߥ⠪ߦኻߒ
ߡޔ࿖᳃↢ᵴ㊄ⲢᐶޔㄘᨋṪᬺ㊄Ⲣᐶޔਛዊડᬺ㊄Ⲣᐶ╬ߩᐭ㑐ଥᯏ㑐߇ା↪ଏ
ਈޔା↪ቢߣߞߚ╷㊄Ⲣᬺോࠍⴕߞߡ߈ߚޕᐔᚑ20 ᐕ 10ߦߪ╷㊄Ⲣᯏ㑐ߩౣ
✬ߦࠃߞߡᣂߚߦᩣᑼળ␠ᣣᧄ╷㊄Ⲣᐶ߇⸳┙ߐࠇޔ⸥ߩ 3 ᐶ╬ߩᬺോࠍᒁ߈⛮
߉ޔᐔᚑ21ᐕᐲᧃߩ⾉ઃᱷ㜞ߪ⚂30ళߦߞߡࠆޕ
ߎࠇ߹ߢߦ߽ᐶߪ㊀ⷐߥᬌᩏኻ⽎ߣߒߡ⟎ઃߌࠄࠇߡ߈ߡ߅ࠅޔ߹ߚߘߩታᣉߔࠆ
ᬺോߦߟߡߪޔᐔᚑ18ᐕߩޟ╷㊄Ⲣᡷ㕟ߦଥࠆᐲ⸳⸘ߦ߅ߡޠ㧔ᐔᚑ 18ᐕ6
27 ᣣ╷㊄Ⲣᡷ㕟ផㅴᧄㇱቯޔⴕᡷ㕟ផㅴᧄㇱቯ㧕ࠍฃߌߡޔޟቭ߆ࠄ᳃߳ޠߩⷰ
ὐ߆ࠄ᳃ᬺቢߦᔀߒߚߢല₸⊛ߥ╷㊄Ⲣᯏ㑐⚻༡ࠍㅊ᳞ߔࠆߎߣ߿ޔᄖㇱ⼂⠪ߦ
ࠃࠆ⹏ଔᆔຬળࠍ⸳⟎ߒߡޔ╷⋡⊛ߦᴪߞߚᬺ߇ല₸⊛ߦⴕࠊࠇߡࠆ߆ߤ߁߆ߩ⹏
ଔၮḰࠍ╷ቯߒߔࠆߎߣ╬ޔᬺോߩታᣉ⁁ᴫߩ⹏ଔ⋙ⷞߩᢛࠍ࿑ࠆߎߣߣߐ
ࠇߡࠆޕ
ߎߩࠃ߁ߦޔᚒ߇࿖ߩ╷㊄Ⲣߦߟߡߪ৻ጀߩല₸ᕈ߇᳞ࠄࠇߡࠆߣߎࠈߢࠆ
߇ޔߘߩ৻ᣇߢޔᐔᚑ 20 ᐕ 9 ߦ⊒↢ߒߚࡑࡦ࡚ࠪ࠶ࠢߦ߅ߡߪ㊄Ⲣෂᯏ߳ߩ
ኻᔕ╷ߣߒߡߩ╷㊄Ⲣߩᓎഀ߇ᦼᓙߐࠇޔߘߩ⚿ᨐޔ2009 ᐕᡷᱜᴺߦࠃࠅᩣᑼળ␠ᣣᧄ
╷ᛩ⾗㌁ⴕ߿ᩣᑼળ␠Ꮏ⚵วਛᄩ㊄ᐶߪޔ5㨪7 ᐕᓟߦ੍ቯߐࠇߡߚቢో᳃༡ൻ߇ᑧ
ᦼߐࠇޔෂᯏኻᔕᬺോࠍⴕ߁ߎߣ߇ⷐ⺧ߐࠇߚޕ
ߘߎߢޔᓟߩ╷㊄Ⲣߩ߁ߜਛዊડᬺะߌಽ㊁╬ߩቢ㊄Ⲣ߮㊄Ⲣෂᯏ߳ߩኻᔕ╷
ߦኻߔࠆᬌᩏߩࠅᣇޔ⹏ଔߩᣇᴺߦߟߡ␜ໂࠍᓧࠆߚޔ╷㊄Ⲣߦኻߒߡળ⸘ᬌᩏ
㒮╬߇ᬌᩏޔᬺ❣⹏ଔࠍⴕߞߡࠆࠕࡔࠞ߮ࠗࠡࠬߩ⁁ᴫࠍ⺞ᩏߔࠆޕ
ᧄ⺞ᩏ⎇ⓥߩᚑᨐ߇ޔᓟߩળ⸘ᬌᩏ㒮ߦ߅ߌࠆ╷㊄Ⲣߦኻߔࠆળ⸘ᬌᩏߩṖ߆ߟ
ㆡಾߥታᣉߩߚߩ৻ഥߣߥࠆߎߣࠍಾߦᦼᓙߔࠆޕ
ᐔᚑ23ᐕ2
2
㧚⺞ᩏ⎇ⓥߩᣇᴺ
ᧄ⺞ᩏ⎇ⓥߪޔળ⸘ᬌᩏ㒮ോ✚㐳ቭᚱ⺞ᩏ⺖㧔⎇ⓥᜂᒰ㧕ࠃࠅޔਃ⪉ UFJ ࠨ࠴&
ࠦࡦࠨ࡞࠹ࠖࡦࠣᩣᑼળ␠߳ߩᆔ⸤ߦࠃࠅⴕࠊࠇߚޕ
ౕ⊛ߦߪޔ☨࿖ޔ⧷࿖ߦ߅ߌࠆฦ࿖ਛᄩᐭ߇ផㅴߔࠆ╷㊄Ⲣᐲ㧔⋥ធⲢ⾗ௌ
ോ⸽㧕ߩⷐߣ․ᓽޔ߮ߘࠇߦኻᔕߒߡฦ࿖ળ⸘ᬌᩏ㒮㧔☨࿖ߩ႐วޔฦ⋭ᐡߩ⋙ኤ
✚⋙ቶࠍ㧕߇ⴕ߁╷㊄Ⲣߦኻߔࠆᬌᩏ⋙ᩏߩޔౕ⊛ߥᬌᩏ⋙ᩏ⹏ଔߩ
ታᣉ⁁ᴫߦߟߡޔᢥ₂߮ᶏᄖ⺞ᩏߦࠃࠅಽᨆࠍⴕߞߚޕ
㧔1㧕ᢥ₂⾗ᢱ⺞ᩏ
߹ߕޔฦ࿖ߩ⋭ᐡߩ࠙ࠚࡉࠨࠗ࠻߿⾗ᢱޔᚒ߇࿖ߩฦ⒳ᢥ₂ႎ๔ᦠࠍਛᔃߦޔ
╷㊄Ⲣᐲߩᩮⷙቯޔ․ᓽޔ╷㊄Ⲣࠍᜂ߁ᯏ㑐╬ߦߟߡⷰߒߚޕ
⛯ߡޔฦ࿖ߩળ⸘ᬌᩏ㒮㧔☨࿖ߩ႐วޔฦ⋭ᐡߩ⋙ኤ✚⋙ቶࠍ㧕ߩ࠙ࠚࡉࠨࠗ࠻
߿⾗ᢱࠍਛᔃߦޔ╷㊄Ⲣߦኻߔࠆᬌᩏ⋙ᩏႎ๔ߦߟߡขࠅ߹ߣߚޕ
ߥ߅ޔಽᨆߦ↪ߚᢥ₂⾗ᢱߦߟߡߪᏎᧃߦ৻ⷩᢛℂߒߡࠆޕ
㧔2㧕ᶏᄖ⺞ᩏ㧔ኻ㕙ᑼࠗࡦ࠲ࡆࡘ⺞ᩏ㧕
⺞ᩏኻ⽎࿖ਛޔ☨࿖ߦߟߡߪޔળ⸘ᬌᩏ㒮㧔ㄭᐕޔ╷㊄Ⲣ߿✕ᕆ⚻ᷣኻ╷ࠍኻ⽎ߣ
ߒߚળ⸘ᬌᩏࠍታᣉߒߚⶄᢙߩᬌᩏ⺖㧕ޔᐲᚲ▤ቭᐡߩᜂᒰ⠪ޔฦ⋭ᐡߩ⋙ኤ✚⋙ቶ╬
߳ߩኻ㕙ᑼࠗࡦ࠲ࡆࡘ⺞ᩏࠍታᣉߒߚޕߣࠅࠊߌޘߩᬌᩏႎ๔ߦ߅ߡޔᬌᩏ
ኻ⽎ߣߒߚ⚻✲ޔᬌᩏ⺞ᩏ⸳⸘ޔᬌᩏ⺞ᩏᚻᴺޔᬌᩏ⺞ᩏㆀⴕߩ⺖㗴╬ޔᢥ₂ߢ
ߪᓧࠄࠇߥ႐ࡌ࡞ߢߩᖱႎߦߟߡ߽⡬ขߒߚޕ
ߩᬌᩏႎ๔ߦߟߡߪޔ╙ 2 ┨ޟ☨⧷ 2߆࿖ߦ߅ߌࠆ╷㊄Ⲣߦኻߔࠆળ⸘
ᬌᩏ╬ߩ⁁ᴫޠߦ߅ߡ⸥ㅀߒߡࠆޕ
☨࿖ળ⸘ᬌᩏ㒮
㧔GAO㧕
╷㊄Ⲣ ㊄Ⲣෂᯏ
☨࿖ฦ⋭ᐡ⋙ኤ✚⋙ቶ
㧔OIG㧕
⧷࿖ળ⸘ᬌᩏ㒮
㧔NAO㧕
ะಽᨆ
23
㧔2009ᐕᐲ16㧕
㧔ߘࠇએᄖ7㧕
̆̆
37
㧔5⋭ᐡ㧕
13
⚦ಽᨆ
8 12
㧔TARP 6㧕 㧔ARRA 6㧕
14
㧔5⋭ᐡ㧕
ع☨࿖⺞ᩏ㧔ኻ㕙ᑼࠗࡦ࠲ࡆࡘ⺞ᩏ㧕
ޣᣣ ⒟ޤ2010ᐕ926ᣣ㧔ᣣ㧕㨪103ᣣ㧔ᣣ㧕
ޣ⺞ᩏ⠪ޤળ⸘ᬌᩏ㒮ോ✚㐳ቭᚱ⺞ᩏ⺖㧔⎇ⓥᜂᒰ㧕⎇ⓥડ↹ቭ ጟᧄ༑ઍᔒ ࠾ࡘ࡛ࠢᣣᧄ࿖✚㗔㙚ോㇱ㗔 ንỈ ⑲ల
ਃ⪉UFJࠨ࠴&ࠦࡦࠨ࡞࠹ࠖࡦࠣᩣᑼળ␠ ⚻༡ၞ╷ㇱ
⚻༡ࠣ࡞ࡊ ਥછ⎇ⓥຬ 㜞ፒ ᱜ ⎇ⓥຬ ↰ญ ჽテ
ᯏ㑐⡬ขᣣ ฬ೨ ᚲዻ⢋ᦠ ⡬ขౝኈ
Mr. Michael Falkenheim Deputy Associate Director Division of Economy Policy
Ms. Regin Kearney Financial Standards & Grants
Ms. Sarah Lyberg Policy Analyst, Federal Credit Programs
Mr. JJ Sirgh Policy Analyst, Federal Credit Programs OMB
9/27
Mr. Niman Shah Program Examiner, Tresury Branch
╷㊄Ⲣ ᐲⷐ
Mr. William B. Shear Director, Financial Markets and Community Investment
Mr. Mathew J. Scirè Director, Financial Markets and Community Investment
╷㊄Ⲣߦ㑐 ߔࠆᬌᩏ Mr. J. Christopher Mihm Managing Director Strategic Issues
Mr. Stan Czerwiski Director, Intergovernmental Relations
ARRAߦ㑐ߔ
ࠆᬌᩏ Ms. Helen Hsing Managing Director, Strategic Planning and External Liaison
Mr. Thomas J. McCool Director, Center for Economics Applied Research and Method
Ms. Muriel J. Forster Director, Strategic Planning and External Liaison
TARPߦ㑐ߔࠆ
ᬌᩏ INTOSAI
Mr. Stephen Sanford Senior Advisor Strategic Planning and External Liaison GAO
9/28
Mr. Paul D. Miller, Jr. Program Support Specialist Strategic Planning and External Liaison
ߘߩઁ
Ms. Debra S. Ritt Assistant Inspector General for Auditing
Ms. Terry Settle Audit Manager, Credit Programs Group
Mr. Craig Hickok Director, Disaster Assistance Group OIG, SBA
9/29
Mr. Marvin Houle Audit Manager, Disaster Assistance Group
ਛዊડᬺᐡ ⋙ᩏ
Mr. Gil H. Harden Assistant Inspector General for Audit
Mr. Tracy A. LaPoint Deputy Assistant Inspector General for Audit OIG, USDA
9/30
Mr. Red Desmet Audit
ㄘോ⋭ ⋙ᩏ
Mr. Patrick J. Howard Deputy Assistant Inspector General for Audit OIG, ED
9/30 Mr. Kenneth Smith Director of Student Financial Assistance Advisory & Assistance Team
ᢎ⢒⋭ ⋙ᩏ Mr. David N. Miller Chief Investment Officer
Mr. Jason Tepperman Office of Financial Stability Tresury
9/30
Ms. Jeanny Lee Office of East Asia, International Affairs International Economist
TARP
ᐲⷐ
Mr. George Collard Assistant Inspector General for Performance Audits OIG, DOE
10/1 Mr. Rickey R. Hass Deputy Inspector General for Audit Services Office of Inspector General
ࠛࡀ࡞ࠡ⋭ ⋙ᩏ
̪ንỈ㗔ߪⴕ▤ℂ੍▚ᐡ㧔9/27㧕ޔᢎ⢒⋭⋙ኤ✚⋙ቶޔ⽷ോ⋭㧔9/30㧕ޔࠛࡀ࡞ࠡ⋭⋙ኤ✚⋙
3
㧚ᧄႎ๔ᦠߩ᭴ᚑ
ᧄ⺞ᩏႎ๔ᦠߩ᭴ᚑߪޔએਅߩߣ߅ࠅߢࠆޕ
╙1┨ޟ☨⧷2߆࿖ߦ߅ߌࠆ╷㊄Ⲣߩⷐޠ
╙2┨ޟ☨⧷2߆࿖ߦ߅ߌࠆ╷㊄Ⲣߦኻߔࠆળ⸘ᬌᩏ╬ߩ⁁ᴫޠ
1㧚☨࿖ળ⸘ᬌᩏ㒮ߦ߅ߌࠆ╷㊄Ⲣߦኻߔࠆᬌᩏ╬ߩ⁁ᴫ
2㧚☨࿖ฦ⋭ᐡ⋙ኤ✚⋙ߦ߅ߌࠆ╷㊄Ⲣߦኻߔࠆᬌᩏ╬ߩ⁁ᴫ
3㧚⧷࿖ળ⸘ᬌᩏ㒮ߦ߅ߌࠆ╷㊄Ⲣߦኻߔࠆᬌᩏ╬ߩ⁁ᴫ
4㧚ᦨㄭߩ㊄Ⲣෂᯏߦኻߔࠆᬌᩏ╬ߩ⁁ᴫ
I
㧚☨⧷
2
߆࿖ߦ߅ߌࠆ╷㊄Ⲣߩⷐ
ᧄ┨ߢߪޔ⺞ᩏኻ⽎࿖ߣߒߚ☨⧷ 2 ߆࿖ߦ߅ߌࠆ╷㊄Ⲣᐲߦߟߡޔోࠍᛠី
ߔࠆߣߣ߽ߦޔ⺞ᩏኻ⽎࿖ߦ߅ߡ╷㊄Ⲣታോࠍᜂ߁ᐭᯏ㑐ᐭ♽㊄Ⲣᯏ㑐߿ᐲ
ᚲ▤⋭ᐡ╬ߩ⚵❱ޔᐲᩮߣߥࠆᴺޔࠟࠗ࠼ࠗࡦ╬ߦߟߡᢛℂߔࠆޕ
1
㧚 ☨࿖ߦ߅ߌࠆ╷㊄Ⲣߩⷐߣ․ᓽ
㧔1㧕╷㊄Ⲣߩో㊀ὐಽ㊁
☨࿖ߦ߅ߌࠆ╷㊄ⲢߪޔԘㅪ㇌ᐭ߇⋥ធ⊛ߦ㊄Ⲣખᵴേࠍⴕ߁ㅪ㇌ା↪ࡊࡠࠣ
ࡓ㧔Federal Credit Program㧦FCP㧕ߦࠃࠆ߽ߩߣޔԙ╷⋡⊛ࠍታߔࠆߚߦㅪ㇌ᐭߦ
ࠃࠆ⸳⟎ᴺߩਅߢᬺോㆇ༡ߐࠇߡࠆ߇ޔේೣߣߒߡᐭߩ⽷⽶ᜂࠍࠊߥ᳃㑆ᚲ
ડᬺߢࠆᐭᡰេᯏ㑐㧔Government Sponsored Enterprises㧦GSEs㧕ߦࠃࠆ߽ߩߩ 2 ߟ
߇ሽߔࠆޕ
೨⠪ߦߟߡߪޔௌോ⸽߇ㆊඨࠍභޔ⋥ធⲢ⾗ߩഀวߪૐޕᓟ⠪ߦߟߡߪޔ᳃
㑆㊄Ⲣᯏ㑐ߩ⾉ௌᮭߩ⾈ข߮⸽ൻߦࠃࠆ߽ߩ߇ᄢඨࠍභߡࠆޕ
Ԙㅪ㇌ା↪ࡊࡠࠣࡓߦၮߠߊ╷㊄Ⲣ
1930 ᐕઍߩᄢᕟᘓᤨઍߦ㐿ᆎߐࠇߚㅪ㇌ା↪ࡊࡠࠣࡓߪޔᓥ᧪߆ࠄᐢಽ㊁̆̆
ቛޔᢎ⢒ޔㄘᬺㄘޔਛዊડᬺޔャ╬̆̆ߢዷ㐿ߐࠇߡ߈ߚ߇ޔ1970 ᐕઍ߆ࠄᕆㅦߦ
⢈ᄢൻ߇ㅴࠎߛޕ☨࿖ㅪ㇌ᐭ⼏ળߪޔ1960 ᐕઍᓟඨ߆ࠄㅪ㇌ା↪ࡊࡠࠣࡓߩ⛔ߦ
ะߌߚข⚵ࠍᢿ⛯⊛ߦ⻠ߓߡ߈ߡ߅ࠅޔ1974 ᐕ⼏ળ੍▚ᴺ㧔Congressional Budget Act㧕ޔ
1981ᐕᐲା↪੍▚ޔ1985ᐕ⽷ဋⴧᴺ╬ߦࠃߞߡኻᔕߒߡ߈ߚޕ
ߒ߆ߒޔ㊄ࡌࠬߩߺߩ੍▚⸘߇ⴕࠊࠇߡ߈ߚߚޔ⋥ធⲢ⾗ߩታⴕߪ੍▚නߥ
ࠆᱦߣߒߡᛠីߐࠇޔ᧪ߩᷣ߇ᛠីߐࠇߡߥ৻ᣇޔௌോ⸽ࠍઃਈߔࠆᤨὐߢ
ߪ੍▚⸽ࠦࠬ࠻߇⼂ߐࠇߕޔߒࠈ⸽ᢱ߇⸘ߐࠇࠆߎߣߣߥࠆߚޔ࿖᳃
⽶ᜂߩㆡಾߥታᘒᛠី߇࿎㔍ߢࠆߣ߁㗴߇ᓥ᧪߆ࠄᜰ៰ߐࠇߡߚޕߎ߁ߒߚ⁁ᴫ
ࠍ ฃ ߌ ߡ 1990 ᐕ ߦ ᚑ ┙ ޔ1992 ᐕ ࠃ ࠅ ᣉ ⴕ ߐ ࠇ ߚ ߩ ߇ ㅪ ㇌ ା ↪ ᡷ 㕟 ᴺ 㧔Federal Credit
Reform Act㧦FCRA㧕ߢࠆޕߎߩᴺᓞߦၮߠ߈ޔㅪ㇌ା↪ࡊࡠࠣࡓߦኻߔࠆࠟࡃ࠽ࡦࠬ
ᒝൻߩߚ᭽ޘߥข⚵߇ߥߐࠇࠆߎߣߣߥߞߚޕ
عㅪ㇌ା↪ᡷ㕟ᴺߦၮߠߊࠨࡉࠪ࠺ࠖࠦࠬ࠻ߩ੍▚߳ߩ⚵ߺㄟߺ
ᓥ᧪ޔㅪ㇌ା↪ࡊࡠࠣࡓߩ⾌↪ߪޔ㊄ࡌࠬߢ੍▚ൻߐࠇߡߚ㧔⋥ធⲢ⾗ߪታⴕ
㗵ࠍߘߩ߹߹ᱦ⸘ޔௌോ⸽ߪઃᤨߦߪᱦ⸘ߐࠇߕઍᑯᷣᤨߦ⸘㧕߇ޔㅪ
㇌ା↪ᡷ㕟ᴺߩቯߦࠃࠅޔߎ߁ߒߚࠦࠬ࠻ࠍ⛔ว⊛ߦᛠីߒޔ੍▚ൻߔࠆ⚵߇ዉߐ
ࠇߚޕౕ⊛ߦߪޔ1992 ᐕᐲ੍▚߆ࠄޔᓥ᧪߆ࠄߩ㊄ਥ⟵ߦࠃࠆ੍▚⸘ߦട߃ߡޔ⋥
ធⲢ⾗㧔Ⲣ⾗ታⴕ㗵ᷣㄟ㗵㧕߿ௌോ⸽㧔ௌോ⸽ታⴕㄟ㗵㧕߇ㆡ↪ߐࠇࠆᦼ㑆
ో ߩ ᧪ ࠠ ࡖ ࠶ ࠪ ࡘ ࡈ ࡠ ࠍ ଔ ୯ ൻ ߒ ߚ 㗵 ࠍ ޟ ࠨ ࡉ ࠪ ࠺ ࠖ ࠦ ࠬ ࠻ 㧔subsidy
cost㧕ޠߣߒߡ▚ߒޔ੍▚ߦ⸘ߔࠆߎߣ߇⟵ോઃߌࠄࠇߚޕߎࠇߦࠃࠅޔ⋥ធⲢ ⾗ ߿
ௌോ⸽╬ޔ᭽ޘߥᒻᑼࠍขࠆା↪ࡊࡠࠣࡓߦଥࠆࠦࠬ࠻߇⛔৻⊛ߦ㐿␜ߐࠇࠆࠃ߁ߦ
ߥࠅޔઁߩ⽷╷ߣߩࠦࠬ࠻ല₸ᕈᲧセ߇น⢻ߣߥࠆ╬ޔ᳃ਥਥ⟵⊛ߥ⛔ࠍฃߌࠆ
ࠃ߁ߦߥߞߚޕㅪ㇌ା↪ᡷ㕟ᴺߩዉએ㒠ޔޟᤃߥᐲഃ⸳ߩᛥޔ㊄߿ᚻᢙᢱᓽ
ߩㆡᱜൻޔฦ⋭ᐡߦࠃࠆࡊࡠࠣࡓ▤ℂ⢻ജߩะ╬ߩലᨐ߇ࠇߡࠆޠ㧔ⴕ▤ℂ੍
▚ᐡޔOffice of Management and Budget㧦OMB㧕ߣߩᗧ߇ࠆޕ
ࠨࡉࠪ࠺ࠖࠦࠬ࠻ߩ⸘▚ᣇᴺ╬ߦߟߡߪޔⴕ▤ℂ੍▚ᐡߩㅢ㆐ A-11
1
ߦ␜ߐࠇߡ
ࠆޕหㅢ㆐ߦࠃࠇ߫ޔㅪ㇌ା↪ᡷ㕟ᴺߪ⋥ធⲢ⾗߿ௌോ⸽ߣߞߚㅪ㇌ା↪ࡊࡠࠣ
ࡓࠍ▤ℂߔࠆ߽ߩߢࠅޔ⋥ធⲢ⾗߮ௌോ⸽ߦ㑐ߒߡޔࠠࡖ࠶ࠪࡘࡈࡠߢߪߥߊ
ࠨࡉࠪ࠺ࠖࠦࠬ࠻ߦၮߠߊߣ߁੍▚ߩ․ߥᛒࠍ᳞ߡࠆޕ⼏ળߪޔ߶ߣࠎߤ
ߩㅪ㇌ା↪ࡊࡠࠣࡓߦኻߒߡޔ⋥ធⲢ⾗߮ௌോ⸽߇ታᣉߐࠇࠆ೨ߦޔᐕᰴߩᱦᴺ
ߢࠨࡉࠪ࠺ࠖࠦࠬ࠻ߣห㗵ߩ੍▚ᮭࠍਈ߃ߥߌࠇ߫ߥࠄߥ
2
ޕ
หㅢ㆐ߪ߹ߚޔ⼏ળ੍▚ᴺߩ╙ 5 ┨ߩୃᱜ᧦㗄ߦࠃߞߡᴺᓞൻߐࠇߚㅪ㇌ା↪ᡷ㕟ᴺߩ
ⷐ᳞㗄ߦߟߡ߽⺑ߒߡࠆ
3
ޕหㅢ㆐ߦࠃࠇ߫ޔࠨࡉࠪ࠺ࠖࠦࠬ࠻ߪᄢ⛔㗔ߦࠃࠆ
╷㧔Presidential policy㧕ޔ1991ᐕએ㒠ߩ⋥ធⲢ⾗߮ௌോ⸽ޔ߹ߚߪ1992ᐕએ೨ߩ⋥
ធⲢ⾗߮ௌോ⸽ߩᄾ⚂ୃᱜߦଥࠆ੍▚ߦߟߡޔࠬࠢࠞ࠹ࠧߏߣߦផ⸘ߒߥ
ߌࠇ߫ߥࠄߥޕㅪ㇌ା↪ᡷ㕟ᴺ╙ 503 㗄㧔a㧕ߦࠃࠅޔOMB ߇ฦ⋭ߣߩࠦࡦࠨ࡞࠹ࠪ
࡚ࡦࠍ⚻ߡᦨ⚳⊛ߥࠨࡉࠪ࠺ࠖࠦࠬ࠻ߩផ⸘ߦኻߔࠆ⽿છࠍߔࠆߎߣߦߥߞߡࠆޕ
ߘࠇߙࠇߩ╷㊄Ⲣࡊࡠࠣࡓߦ߅ߌࠆࠨࡉࠪ࠺ࠖࠦࠬ࠻ߩផ⸘ߦߚߞߡߪޔOMB
ߦࠃߞߡ̌ା↪ࠨࡉࠪ࠺ࠖ⸘▚࠷࡞2̍㧔Credit Subsidy Calculator 2㧕߇ឭଏߐࠇߡ߅ࠅޔ
ฦ⋭ᐡߪߎࠇࠍ߁ߎߣ߇⟵ോߣߥߞߡࠆޕห࠷࡞߮㑐ㅪࠟࠗ࠼ࠗࡦߪޔഀᒁߩ
ᣇᴺ߮ޔഥ₸㧔subsidy rate㧕ߩ⸘▚ᣇᴺࠍ␜ߒߡࠆޕ
2001 ᐕᐲએ㒠ߦታᣉࠆߪୃᱜߐࠇߚ⋥ធⲢ⾗߮ௌോ⸽ߦ㑐ߒߡߪޔᲤᐕផ⸘ߐ
ࠇ ࠆ ࠠ ࡖ ࠶ ࠪ ࡘ ࡈ ࡠ ߦ ߟ ߡ ޔ ห ߓ ḩ ᦼ ᣣ ࠍ ᜬ ߟ ⽷ ോ ⋭ ߩ ή ሶ ⸽ 㧔zero-coupon Treasury security㧕
4
ߩሶ₸ࠍഀᒁ₸ߣߒߡ↪ࠆߎߣ߇᳞ࠄࠇߡࠆޕ߃߫ޔࠆࠠ
1
OMBㅢ㆐A-11ߪ੍▚ࡊࡠࠬߦߟߡᐢ▸ߥౝኈࠍ⺑ߔࠆ߽ߩޕ
2 OMB Circular A-11 15.6
3
OMB Circular A-11 185 4
ࡖ࠶ࠪࡘࡈࡠ߇Ⲣ⾗ታⴕ߆ࠄ 1 ᐕᓟߦ⊒↢ߔࠆߣᗐቯߐࠇࠆ႐วߦߪޔ1 ᐕ㑆ߩ⽷ോ ⋭ήሶ⸽ߩሶ₸ࠍഀᒁ₸ߦ↪ߔࠆޕࠠࡖ࠶ࠪࡘࡈࡠߩផ⸘ߣഀᒁ₸ߩᢛวᕈ
ࠍߣࠆߚߦޔ⋭ᐡߪ OMB ା↪ࠨࡉࠪ࠺ࠖ⸘▚࠷࡞ 2 ߆ࠄዉߐࠇࠆഀᒁ₸ࠍ↪ߥ
ߌࠇ߫ߥࠄߥޕሶ₸ߩ೨ឭ᧦ઙߪOMB ੍▚ክ⼏ቭ㧔OMB examiner㧕߇ឭଏߔࠆߎߣ
߇น⢻ߢࠆޕ
หㅢ㆐ߢߪޔᄢ⛔㗔╷㧔Presidential policy㧕߮ࡌࠬࠗࡦߦ㑐ߔࠆࠨࡉࠪ࠺ࠖࠦ
ࠬ࠻ࠍ⸘▚ߔࠆࠃ߁᳞ߡ߅ࠅޔߘࠇߙࠇߦߟߡߩ⸘▚ࠬ࠹࠶ࡊࠍ␜ߒߡࠆޕᄢ⛔㗔
╷ࠨࡉࠪ࠺ࠖߩផ⸘ߪޔ੍▚ߦ߹ࠇࠆ╷ߩࠨࡉࠪ࠺ࠖࠦࠬ࠻ࠍᤋߔࠆ߽ߩߢ
ࠆޕ৻ᣇޔࡌࠬࠗࡦࠨࡉࠪ࠺ࠖផ⸘ߪޔᣢߦታᣉߐࠇߚᴺᓞߦၮߠ߈ޔᒰᐕߦ⊒↢
ߔࠆࠨࡉࠪ࠺ࠖࠦࠬ࠻ࠍᓟ⛯ᐕߦᤋߔࠆᒻߢផ⸘ߔࠆ߽ߩߢࠆޕࠃࠅ৻⥸⊛ߦߪޔ
ࠨࡉࠪ࠺ࠖࠦࠬ࠻ߩ⸘▚ᣇᴺߩⷐߪᰴߩߣ߅ࠅߢࠆ
ޕ
ࠨࡉࠪ࠺ࠖࠦࠬ࠻
㧩 ᐭ߆ࠄ᳃㑆߳ߩࠠࡖ࠶ࠪࡘࡈࡠ㧔ࠕ࠙࠻ࡈࡠ㧕ߩଔ୯ 㧙᳃㑆߆ࠄᐭ߳ߩࠠࡖ࠶ࠪࡘࡈࡠ㧔ࠗࡦࡈࡠ㧕ߩଔ୯
ߎߩ႐วߩࠕ࠙࠻ࡈࡠ߮ࠗࡦࡈࡠߩᝒ߃ᣇߪᰴߩߣ߅ࠅߢࠆޕ
⋥ធⲢ⾗ ௌോ⸽
ࠕ࠙࠻ࡈࡠ Ⲣ⾗రᧄ
Ԙ⾉ୟࠇߩ㓙ߩᡰᛄ㗵 ԙሶഥ
ࠗࡦࡈࡠ
Ԙరᧄᷣޔ㊄ޔᚻᢙᢱ ԙ⾉ୟࠇࠬࠢ╬ߩട
Ԙᚻᢙᢱ
ԙ⾉ୟࠇߩ㓙ߩ࿁╬
☨࿖⺞ᩏߦࠃࠇ߫ޔฦ⋭ᐡߦ߅ߌࠆࠨࡉࠪ࠺ࠖࠦࠬ࠻ߩ⸘▚ߪޔ⋭ౝߩ੍▚ᜂᒰ
ㇱዪ߿ࠛࠦࡁࡒࠬ࠻ㇱ㐷ߦࠃࠅታᣉߐࠇޔߘߩ⸘▚ߩㆡุࠍ⋭ౝߩ⋙ኤ✚⋙ቶ㧔⽷ോ⻉
⋙ᩏࠍᜂᒰߔࠆㇱ㐷㧕ߦ߅ߡ♖ᩏߒߡࠆߣߩߎߣߢࠆޕߚߛߒޔฦ⋭ᐡߦ߅ߌࠆផ
⸘ߢߪޔௌോਇጁⴕ₸ޔ᧪⚻੍᷹ᷣޔ↳⺧⠪ߩᢙߩ੍ᗐ╬ޔࡊࡠࠣࡓߦᔕߓߡ⇣ߥࠆ
ߎߣߣߥࠆߚޔOMB㧔Credit Group in Budget Analysis㧕ߢߪޔฦ⋭ᐡߩផ⸘ౝኈࠍᄢዪ⊛
ߥ߆ࠄ♖ᩏߒߡޔਇߩࠆ႐วߦߪߘࠇࠍᜰ៰ߔࠆߣߣ߽ߦޔࡌࠬ࠻ࡊࠢ࠹ࠖࠬ
ߩ╬ࠍⴕߞߡࠆߣߩߎߣߢࠆޕ
5
عⴕ▤ℂ੍▚ᐡߦࠃࠆ৻ర⊛ߥ࠴ࠚ࠶ࠢ
ᐭㇱౝߦ߅ߡߪޔOMB ߇ฦ⒳ࡊࡠࠣࡓߩ⛔৻⹏ଔၮḰࠍ╷ቯߒߡࠆޕߘߎߢ
ߪޟᐭߩߪ᳃㑆ߢኻᔕߢ߈ߥ႐วߦ㒢ቯߔߴ߈ߎߣޠޟ᳃㑆㊄Ⲣᯏ⢻ߩᵴ↪ޔᏒ
႐ᱡᦛലᨐߩᦨዊൻߩⷰὐ߆ࠄ⋥ធⲢ⾗ࠃࠅ߽ௌോ⸽ࠍఝవߔߴ߈ߎߣޠ╬ߩၮḰ߇⋓
ࠅㄟ߹ࠇߡ߅ࠅޔഃ⸳లߐࠇࠆᣉ╷ߩߺߥࠄߕޔᣢሽߩᣉ╷㧔ᄢડᬺఝㆄ⦡ߩᒝ߽
ߩ╬㧕ߦߟߡ߽ክᩏࠍⴕߞߡࠆޕ☨࿖⺞ᩏߦࠃࠇ߫ޔߎࠇࠄߩࡊࡠࠬࠍㅢߓߡޔ
Ԙ⼏ળߦኻߔࠆࠕ࠼ࡃࠗࠬࠍⴕ߁ᯏ⢻ߣޔԙฦ⋭ᐡߩᐲ⸳⸘ߦ߅ߡㆡಾߥᣇะߦዉ
ߊߴߊޔ⋭ᐡߦኻߔࠆᜰዉⷐ⺧╬ࠍⴕ߁ᯏ⢻ࠍޔOMB ߪߒߡࠆߣߩߎߣߢࠆ߇ޔ
ઁᣇߢޔߊ߹ߢታ㓙ߩᮭ㒢ࠍߒߡࠆߩߪ⼏ળߥߩߢߞߡޔㅪ㇌ା↪ࡊࡠࠣࡓߦ
߅ߡ OMB ߇ߒߡࠆᯏ⢻ᮭ㒢ߪߘࠇ߶ߤᒝ߽ߩߢߪߥߣߩᗧ߽ᓧࠄࠇߡ
ࠆޕOMB ߦ߅ߡޔㅪ㇌ା↪ࡊࡠࠣࡓߦ៤ࠊߞߡࠆࠬ࠲࠶ࡈߪਅ⸥ߩߣ߅ࠅߢࠆޕ
㧙Program Examiner Ᏹൕ⡯ຬ4㨪5ੱ㧔ኾᜂ㧕
㧙Economic Policy Ᏹൕ⡯ຬ2ੱ 㧔ኾᜂ㧕
㧙Budget Examiner ฦ⋭ᐡߩ੍▚ᩏቯߩ৻Ⅳߣߒߡᓥޕ20㨪30ੱޕ
ع⼏ળࠨࠗ࠼߆ࠄߩࡕ࠾࠲ࡦࠣ
ᐭߦࠃࠆࠨࡉࠪ࠺ࠖࠦࠬ࠻ߩ▚ᣇᴺ߿ OMB ߦࠃࠆฦ⋭ᐡ߳ߩ⛔ߩࠅᣇߦߟ
ߡߪޔળ⸘ᬌᩏ㒮㧔GAO㧕߿⼏ળ੍▚ዪ㧔CBO㧕ߣߞߚ⼏ળ㑐ㅪᯏ㑐߆ࠄ߽Ᏹߦࡕ࠾
࠲ࡦࠣߐࠇߡ߅ࠅޔߩࡊࡠࠣࡓߩࠦࠬ࠻⸘▚ᣇᴺߩㆡุ╬ߦߟߡౕ⊛ߥᜰ៰
߇ߒ߫ߒ߫ߥߐࠇࠆޕ․ߦ⼏ળ੍▚ዪߢߪޔㅪ㇌ା↪ࡊࡠࠣࡓోޔ߽ߒߊߪ৻ㇱߩࡊ
ࡠࠣࡓࠍขࠅߍߡޔߘߩ᧪⹜▚╬ࠍⴕޔࡐ࠻ࠍਇቯᦼߦߒߡࠆޕ
عᣉ╷ߩ⹏ଔߣᩰઃߌ࠷࡞㧔Program Assessment Rating Tool㧦PART㧕ߦࠃࠆㅪ㇌ା↪ࡊ ࡠࠣࡓߩ╷⹏ଔ
ᣉ╷ߩ⹏ଔߣᩰઃߌ࠷࡞㧔PART㧕ߪޔᄢ⛔㗔੍▚ߩᚑߦᵴ↪ߔࠆߚߦޔ2004 ᐕ
ᐲ੍▚✬ᚑᤨ߆ࠄⴕ▤ℂ੍▚ᐡ㧔OMB㧕ߦࠃࠅዉߐࠇߚޔㅪ㇌ᐭㅢߩ╷⹏ଔߩ
ᚻᴺߢࠆ
6
ޕᐭౝᄖߢߩ⼏⺰ߦᵴ↪ߢ߈ࠆࠃ߁ߦߔࠆߎߣࠍ⋡⊛ߣߒߡ߅ࠅޔ⹏ଔ⚿ᨐ
ߪਥߦOMB߇ᄢ⛔㗔੍▚ࠍ✬ᚑߔࠆ㓙ߦᵴ↪ߒߡࠆޕ
6
PARTߪޔ4ߟߩ࡚ࠢࠪࡦߦࠃࠅ᭴ᚑߐࠇߡ߅ࠅޔߘࠇߙࠇޔⶄᢙߩ⸳߇⸳ቯߐࠇߡ
ࠆޕㅪ㇌ᐭ߇ታᣉߔࠆోߡߩࡊࡠࠣࡓ߇ኻ⽎ߣߥࠆ̌ㅢ⸳̍ߣޔ7 ⒳㘃ߩࡊࡠ
ࠣࡓߩታᣉᒻᘒߦᔕߓߚ̌․ቯ⸳̍ߩ 2 ⒳㘃߇ࠅޔ⸘⚂ 30 ߩ⸳ߦࠃࠅ᭴ᚑߐࠇ
ߡࠆޕฦ⸳ߦߟߡὐᢙൻߐࠇߡޔᦨ⚳⊛ߦߪ 5 Ბ㓏ߢᩰઃߌߐࠇࠆޕ7 ⒳㘃ࠆࡊ
ࡠࠣࡓࠞ࠹ࠧߩ߁ߜߩ1ߟ߇ା↪ࡊࡠࠣࡓ㧔Credit Program㧕ߣߐࠇߡ߅ࠅޔ2002
ᐕ߆ࠄ 2008ᐕ߹ߢߩ㑆ޔPARTߦࠃࠅㅪ㇌ᐭోߢ1,016 ߩࡊࡠࠣࡓ߇⹏ଔኻ⽎ߣߐ
ࠇߚ߇ޔߎߩ߁ߜ39߇ା↪⸽ࡊࡠࠣࡓߦᒰߔࠆޕ
࿑ PART߇ᗐቯߔࠆ7⒳㘃ߩࡊࡠࠣࡓታᣉᒻᘒ
ㅪ㇌ᐭ⋥ロࡊࡠࠣࡓ㧔Direct Federal Programs㧕
┹⊛ഥ㊄ࡊࡠࠣࡓ㧔Competitive Grant Programs㧕
ቯ㗵ઃ㊄ࡊࡠࠣࡓ㧔Block/Formula Grant Programs㧕 ⷙࡊࡠࠣࡓ㧔Regulatory Based Programs㧕
࿕ ቯ ⾗ ↥ ࠨ ࡆ ࠬ ⺞ ㆐ ࡊ ࡠ ࠣ ࡓ 㧔Capital Assets and Service Acquisition Programs㧕
ା↪ࡊࡠࠣࡓ㧔Credit Programs㧕
⎇ⓥ㐿⊒ࡊࡠࠣࡓ㧔R&D Programs㧕
⾗ᢱ㧕OMB⾗ᢱ
࿑ PARTߩ⹏ଔኻ⽎ߣߥߞߚା↪ࡊࡠࠣࡓ
੍▚䋨⊖ਁ䋥䋩
ᯏ㑐ฬ 䊒䊨䉫䊤䊛ฬ
ᦨ⚳ ⹏ଔᐕ
䊧䊷䊁䉞䊮䉫 ⚿ᨐ䋨ᵈ䋩
2008
ታ❣
2009
ⷐ᳞
ㄘോ⋭
Agricultural Credit Insurance Fund - Guaranteed
Loans 2008 䈅䉎⒟ᐲല 2412 2412
ㄘോ⋭ Agricultural Credit Insurance Fund Direct Loans 2004 䈅䉎⒟ᐲല 92 1099
ㄘോ⋭ Agricultural Export Credit Guarantee Programs 2004 䈅䉎⒟ᐲല 3374 4342
ㄘോ⋭ Community Facilities Program 2006 䈅䉎⒟ᐲല 27 27
ㄘോ⋭ Intermediary Relending Program 2004 ᥉ㅢ 48 48
ㄘോ⋭ Multi-Family Housing Programs 2005 䈅䉎⒟ᐲല 576 1095
ㄘോ⋭
Rural Business and Industry Guaranteed Loan
Program 2008 ᥉ㅢ 53 43
ㄘോ⋭
Rural Development Broadband Loan and Loan
Guarantee Program 2007 ᥉ㅢ 33 19
ㄘോ⋭
Rural Distance Learning and Telemedicine Loan and
Grant Program 2007 ᥉ㅢ 37 35
ㄘോ⋭ Rural Electric Utility Loans and Guarantees 2004 ᥉ㅢ 48 20
ㄘോ⋭ Rural Telecommunications Loan Programs 2004 ᥉ㅢ 4 2
ㄘോ⋭ Rural Water and Wastewater Grants and Loans 2005 ല 745 540
ㄘോ⋭ Single Family Housing Direct Loans 2004 䈅䉎⒟ᐲല 105 105
ㄘോ⋭ Single Family Housing Loan Guarantees 2007 ല 61 61
ᢎ⢒⋭ Federal Family Education Loans 2004 ᥉ㅢ 3457 951
ᢎ⢒⋭
Historically Black College and University Capital
Financing 2007 ᚑᨐ䈲␜䈘䉏䈝 305 0
ᢎ⢒⋭ William D. Ford Direct Student Loans 2004 ᥉ㅢ 5277 1654
ቛㇺᏒ 㐿⊒⋭
FHA Multi-Family Mortgage Insurance 2005 ᚑᨐ䈲␜䈘䉏䈝 92 92
ቛㇺᏒ 㐿⊒⋭
FHA Single-Family Mortgage Insurance 2004 ᥉ㅢ 77 77
ቛㇺᏒ 㐿⊒⋭
Government National Mortgage Association 2006 䈅䉎⒟ᐲല 11 11
ቛㇺᏒ 㐿⊒⋭
Indian Housing Loan Guarantees 2006 ല 7 7
ቛㇺᏒ 㐿⊒⋭
Section 108 Community Development Loan
Guarantee Program 2007 ᚑᨐ䈲␜䈘䉏䈝 9 9
ቛㇺᏒ 㐿⊒⋭
Tribal Housing Activities Loan Guarantees 2005 ᥉ㅢ 2 2
ౝോ⋭
Bureau of Indian Affairs - Economic Development
Guaranteed Loans 2005 ᥉ㅢ 6 6
⽷ോ⋭
Debt Restructuringfor Heavily Indebted Poor
Countries 2007 䈅䉎⒟ᐲല 44 10
⽷ോ⋭ Tropical Forest Conservation Act 2007 䈅䉎⒟ᐲല 20 20
ㆇャ⋭
Maritime Administration Guaranteed Loan Program
䋨Title XI䋩
2006 䈅䉎⒟ᐲല 16 69
ㆇャ⋭
Transportation Infrastructure Finance and
Innovation 2006 ᥉ㅢ 122 122
ㅌᓎ ァੱ⋭
Veterans Home Loans 2004 ᚑᨐ䈲␜䈘䉏䈝 7304 7147
࿖㓙េഥ 䍪䍽䍹䍖䍼䍵䍯
Development Credit Authority 2005 䈅䉎⒟ᐲല 29 29
࿖㓙េഥ 䍪䍽䍹䍖䍼䍵䍯
Overseas Private Investment Corporation - Finance 2006 䈅䉎⒟ᐲല 45 52
࿖㓙េഥ 䍪䍽䍹䍖䍼䍵䍯
Overseas Private Investment Corporation -
Insurance 2006 䈅䉎⒟ᐲല -199 -177
ਛዊ ડᬺᐡ
Disaster Loan Program 2004 ല 546 350
ਛዊ ડᬺᐡ
Section 504 Certified Development Company
Guaranteed Loan Program 2007 䈅䉎⒟ᐲല 25 28
ਛዊ ડᬺᐡ
Section 7䋨a䋩 Guaranteed Loan Program 2007 䈅䉎⒟ᐲല 87 87
ਛዊ ડᬺᐡ
Small Business Investment Companies Debentures 2007 䈅䉎⒟ᐲല 17 19
ャ ㌁ⴕ
Export Import Bank 2002 䈅䉎⒟ᐲല 0 0
ା↪⚵ว ⋙〈ᐡ
Credit Union Loan and Technical Assistance Grant
Program 2004 ᚑᨐ䈲␜䈘䉏䈝 14 10
ᵈ㧕࠹ࠖࡦࠣ⚿ᨐߪޔ⹏ଔ߇ࠃᣇ߆ࠄޔല㧔effective㧕ޔࠆ⒟ᐲല㧔moderately effective㧕ޔ
᥉ㅢ㧔adequate㧕ޔലߢߪߥ㧔ineffective㧕ޔᚑᨐߪ␜ߐࠇߕ㧔results not demonstrated㧕ߣ߁㗅ޕ
⸥̌ㅢ⸳̍ਛޔା↪ࡊࡠࠣࡓߩ႐วࠍᗐቯߒߚᵈ㉼ߣޔା↪ࡊࡠࠣࡓߦ․ൻ
࿑ PARTߦ߅ߌࠆޡା↪ࡊࡠࠣࡓޢߩ⹏ଔߩⷰὐ ع࡚ࠢࠪࡦ1㧦ࡊࡠࠣࡓߩ⋡⊛ߣ࠺ࠩࠗࡦ
Ũޝㅢޞ1.3㧦ㅪ㇌ޔᎺޔᣇᐭޔ᳃㑆ߩข⚵ߣߩ㊀ⶄ
㧙Ꮢ႐ߩᄬᢌ̆ᛛⴚ⊛ㅴᱠ߿ⷙᡷ㕟ࠍ⚻ߡ߽ޔᧂߛ╷㊄Ⲣࠍᔅⷐߣߔࠆ╷ኻ⽎ߪ
ᄙᢙሽߒޔઁਥߩᡰេࡊࡠࠣࡓߢߪ⾗㊄⺞㆐߇࿎㔍ߢࠆߎߣ̆ࠍ␜ߔߎߣ Ũޝㅢޞ1.4㧦ࡊࡠࠣࡓߩ࠺ࠩࠗࡦ
㧙ᐭߩࠬࠢࠍシᷫߒޔࡊࡠࠣࡓߩലᕈࠍ㜞ࠆߚߦޔ୫ࠅᚻ߇ᦼ㒢ౝߦᷣ
ߔࠆࠃ߁ޔ߹ߚޔ᳃㑆ࠢ࠲ߩࡄ࠻࠽㧔㧦ௌോ⸽ࡊࡠࠣࡓߦ߅ߌࠆ᳃㑆
⾉ᯏ㑐㧕߇⥄りߩኾ㐷⊛⍮⼂ࠍචಽߦᵴ↪ߔࠆࠃ߁ޔᓐࠄࠍേᯏઃߌࠆࠗࡦࡦ࠹
ࠖࡉ߮ࡕ࠾࠲ࡦࠣࠪࠬ࠹ࡓࠍߒߡࠆߎߣޕ Ũޝㅢޞ1.5㧦ᗧ࿑ߒߚฃ⋉⠪߳ߩ㆐
㧙ઁߩᡰេࡊࡠࠣࡓߩ⟎឵ઍᦧߣߥߞߡߥ߆ޕᐭߦࠃࠆᡰេࠍᔅⷐߣߖߕߦ
⾗㊄⺞㆐น⢻ߥ୫ࠅᚻࠍᗖ߈ߟߌࠆߎߣߥߊޔࡊࡠࠣࡓߩ╷⋡⊛ߦว⥌ߔࠆޔᡰ
េߔࠆଔ୯ߩࠆ୫ࠅᚻߦὶὐࠍᒰߡࠆߎߣޕ
ع࡚ࠢࠪࡦ2㧦 ᚢ⇛⸘↹
㧔ߥ ߒ㧕
ع࡚ࠢࠪࡦ3㧦ࡊࡠࠣࡓࡑࡀࠫࡔࡦ࠻
Ũޝㅢޞ3.1㧦ᤨቱᕈା㗬ᕈߩࠆᬺ❣ᖱႎߩ㓸ᵴ↪
㧙ᐭᯏ㑐ߩ࠺࠲ࡌࠬ߇ޔ⾉ઃ᳓Ḱޔ⾉ઃታ❣ߦ㑐ߔࠆ⚦ᖱႎޔ୫ࠅᚻ⾉ߒᚻ
ߩᖱႎߦߟߡࠞࡃߒߡ߅ࠅޔᚲ▤ࡊࡠࠣࡓߩല₸⊛▤ℂߩߚޔߎࠇࠄᖱႎࠍ
⋙ⷞಽᨆߔࠆߚITޔ࠰ࡈ࠻࠙ࠚࠕޔࡕ࠺࡞ࠍ↪ߔࠆߎߣޕ
Ũޝㅢޞ3.2㧦ᬺ❣╬ߦ㑐ߔࠆ⽿છ⠪
㧙ࡊࡠࠣࡓߩ▤ℂ⠪߿᳃㑆ࠢ࠲ߩࡄ࠻࠽ߩߚߦޔᦨૐ㒢ߩᬺ❣ߩ㑣୯ޔ⦟
ᬺ❣ߦ㑐ߔࠆࠗࡦࡦ࠹ࠖࡉࠍ⸳ቯߒߡࠆ߆ޕ߃߫ޔ⋥ធ⾉ᯏ㑐߿ௌോ⸽
ߦၮߠߊ⾉ߒᚻ߇ቯᦼ⊛ߦࡕ࠾࠲ࡦࠣߐࠇޔዋߥߊߣ߽ᐕߦ 1 ࿁ߪࡌࡦ࠴ࡑࠢߣ
ߥࠆ࠺ࡈࠜ࡞࠻ഀวߣᲧセߒߡ⹏ଔߐࠇࠆߎߣޕ Ũޝㅢޞ3.6㧦⽷ࡑࡀࠫࡔࡦ࠻
㧙1990 ᐕㅪ㇌ା↪ᡷ㕟ᴺޔ⽶ௌ࿁ᡷༀᴺޔOMB ㅢ㆐ A-129 ߦၮߠߊᚲⷐߩᚻ⛯ⷐઙ
ࠍḩߚߒߡࠆ߆ޕࡊࡠࠣࡓߩࡐ࠻ࡈࠜࠝ▤ℂޔᬺ❣ߦ㑐ߔࠆ╙ਃ⠪⹏ଔᯏ㑐
ߩ⹏ଔߦࠃߞߡ⺑ߐࠇࠆޔഥ₸ߩᒰೋᤨᡷᄌᤨߢߩ⹜▚୯ޔ⽷ോᡰࡃࡦࠬ
߇ឭ␜ߐࠇߡࠆߎߣޕ
Ũޝ․ቯޞ3.CR1㧦ஜోߥା↪ޔᡰᛄ࿁ႎ๔⟵ോߩታⴕ
㧙ᣉ╷ࠍታᣉߔࠆᐭᯏ㑐߿ࡄ࠻࠽ߦ߅ߡޔࡊࡠࠣࡓߩࠬࠢߣ⽷ോᬺ❣ߦ㑐
ߔࠆലߥ▤ℂႎ๔ࠍⴕߞߡࠆ߆㧫
Ũޝ․ቯޞ3.CR2㧦ା㗬ᕈޔ৻⽾ᕈޔᱜ⏕ᕈޔㅘᕈߩ⏕ߐࠇߚഥࠦࠬ࠻߮ᐭࠬࠢ
ߩ⹜▚
㧙ഥࠦࠬ࠻╬ߩ▚ߩ㓙ߦޔା㗬ᕈߩࠆ⸘▚ᚻᴺࠍ↪ߡࠆ߆㧫
ع࡚ࠢࠪࡦIV㧦 ࡊࡠࠣࡓߩᚑᨐߣࠕࠞ࠙ࡦ࠲ࡆ࠹ࠖ 50㧑
㧔ߥ ߒ㧕
ԙᐭᡰេᯏ㑐ߦࠃࠆ╷㊄Ⲣ
ᐭᡰេᯏ㑐ߣߪޔㅪ㇌ᐭ߇╷ផㅴߩ⋡⊛ߢ⸳┙ߔࠆ᳃༡ડᬺߩ✚⒓ߢޔㅪ㇌
ᐭߩ੍▚㈩ಽࠍฃߌߥᩣᑼળ␠ᒻᘒࠍขࠆ৻ᣇޔߩߦ៤ࠊࠆߣ߁ฬ⋡߆ࠄ
᭽ ޘ ߥ ․ ᓙ ㆄ ߇ ࠄ ࠇ ߡ ࠆޕ ߃ ߫ ޔa㧕 ⽷ ോ ⋭ ߩⵙ ㊂ ߢ ห ⋭߆ ࠄ ߩ ୫ ߇ น ⢻ޔ b㧕 Ꮊ ߣ ᣇ ᴺ ੱ ⒢ ߩ ⺖ ⒢ 㒰 ޔb㧕 ⊒ ⴕ ଔ ⸽ ߦ ߟ ߡ ⸽ ข ᒁ ᆔ ຬ ળ 㧔Security
Exchange Commission㧦SEC㧕⊓㍳㒰ޔᎺ⸽ᴺㆡ↪㒰ޔ⊒ⴕ⸽ߩ㌁ⴕ㒢߇ή
ߎߣޔ⽷ോ⋭ߩ⒢߮Ⲣ⾗ߩᜂㆡᩰޔㅪ㌁ࠍㅢߓߡᷣߐࠇ㐿Ꮢ႐ᠲߩኻ⽎ߣߥ
ࠆ╬ߢࠆޕቯ᱅ߦࠃࠅᬺౝኈ߇⋡⊛ߦ㒢ߐࠇߎࠇࠍ߃ࠆᄙⷺ⚻༡ߪ⸵ߐࠇߕޔ
ᐭ߆ࠄߩഥ㊄ߪਈ߃ࠄࠇߡ߅ࠄߕޔ߹ߚߘߩௌോߦኻߔࠆ␜⊛ߥᐭ⸽߽ߥ߇ޔ
ㆊߩ⚻✲߆ࠄޔ⾗ᧄᏒ႐ߪޟᥧ㤩ߩ⸽ޠ߇ࠆ߽ߩߣ⠨߃ߡࠆޕ
ቛ ㊄ Ⲣ ߩ ⸽ ൻ ࠍ ᡰ េ ߔ ࠆ ࡈ ࠔ ࠾ ࡔ ࠗ 㧔Federal National Mortgage Association㧦 FNMAޔ ㅪ ㇌ ቛ ᛶ ᒰ ᐶ 㧕 ޔ ࡈ ࠺ ࠖ ࡑ ࠶ ࠢ 㧔Federal Home Loan Mortgage
Corporation㧦FHLMCޔㅪ㇌ቛ㊄Ⲣᛶᒰ㊄ᐶ㧕ߪޔ2008 ᐕᄐߦ⚻༡ᖡൻߦ㒱ࠅޔ⊛⾗
㊄ߩᛩߦ⥋ߞߡࠆޕ
Ԛ╷㊄Ⲣታ❣
☨࿖ߦ߅ߌࠆㄭᐕߩ╷㊄Ⲣߩታ❣ߪએਅߩߣ߅ࠅޕᲤᐕᐲߩᄢ⛔㗔੍▚ᢎᦠߢߪㅪ
㇌ା↪ࡊࡠࠣࡓߩਥⷐಽ㊁ߣߒߡޟቛ㧔housing㧕ޠޟᢎ⢒㧔education㧕ޠޟ↥ᬺ
ၞ㐿⊒㧔business and community development㧕ޠޟャ㧔exports㧕ޠߩ4ಽ㊁ߦߟߡᢛℂޔ
⺑ࠍⴕߞߡ߈ߡࠆޕߥ߅ޔ⇇㊄Ⲣෂᯏએ㒠ޔ⋥ធⲢ⾗ௌോ⸽ߣ߽ߦᕆჇߒߡ
ࠆޕಽ㊁ߦࠆߣޔᢎ⢒ಽ㊁ቛಽ㊁ߩᄢ߇⪺ߒޕ
࿑ ☨࿖ߦ߅ߌࠆ╷㊄Ⲣߩ⾉ᱷ㜞ផ⒖㧔න㧦10ం࠼࡞㧕
ௌോ⸽
2ళ1,405ం࠼࡞
㧔2011ᐕᐲ੍᷹୯㧕
⋥ធⲢ⾗
1ళ452ం࠼࡞
න㧦10ం࠼࡞ FY05 FY06 FY07 FY08 FY09
ع⋥ធⲢ⾗ Direct Loan 247 251 260 286 850
ㅪ㇌ቇ↢ࡠࡦ
Federal Student Loans
113 116 124 143 179
ㄘᬺࠨࡆࠬዪޔㄘ㐿⊒ࠨࡆࠬޔㄘቛࠨࡆࠬ
Farm Service Agency, Rural Development, Rural Housing
43 43 44 45 47
ㄘ㔚ൻዪޔㄘ㔚ା㌁ⴕ
Rural Utilities Service and Rural Telephone Bank
34 38 40 42 44
ἴኂᡰេ㧔ਛዊડᬺᐡޔ࿖ኅో㓚⋭㧕
Disaster Assistance
4 7 10 10 10
ቛㇺᏒ㐿⊒
Housing and Urban Development
12 11 10 9 9
ㄘᬺ⾏ᤃ㐿⊒េഥᴺ
Public Law 480
9 8 8 7 6
࿖㓙េഥᐡ
Agency for International Development
8 7 6 6 5
ቇ↢ะߌᢎ⢒৻ᤨࡠࡦ
Education Temporary Student Loan Purchase Authority
㧙 㧙 㧙 5 51
ャ㌁ⴕ
Export-Import Bank
10 7 6 5 6
ᐭᡰេᯏ㑐㧦ਇേ↥ᜂ⸽⾼ࡊࡠࠣࡓ
GSE Mortgage-Backed Securities Purchase Program
㧙 㧙 㧙 3 186
ਇ⦟⾗↥ᢇᷣࡊࡠࠣࡓ㧔TARP㧕
Troubled Asset Relief Program
㧙 㧙 㧙 㧙 290
ߘߩઁ
Other Direct Loan Programs
14 14 12 11 17
عௌോ⸽ Guaranteed Loan 1,096 1,120 1,202 1,407 1,924
ㅪ㇌ቛዪ㧦⋧ቛࡠࡦ㒾ၮ㊄
FHA-Mutual Mortgage Insurance Fund
336 317 322 448 691
ㅪ㇌ቇ↢ࡠࡦ
Federal Student Loans
289 325 363 415 457
ㅌᓎァੱቛࡠࡦ
VA Mortgage
206 211 232 232 194
ㅪ㇌ቛዪ㧦৻⥸․ቯࠬࠢ㒾ၮ㊄
FHA-General and Special Risk Insurance Fund
90 98 108 128 128
ਛዊડᬺᡰេ
Small Business
73 67 72 75 75
ャ㌁ⴕ
Export-Import Bank
36 36 39 40 42
ㄘᬺࠨࡆࠬዪޔㄘ㐿⊒ࠨࡆࠬޔㄘቛࠨࡆࠬ
Farm Service Agency, Rural Development, Rural Housing
30 31 32 37 50
࿖㓙ᡰេ
International Assistance
22 22 22 22 21
ㄘ↥‛㊄Ⲣ␠
Commodity Credit Corporation 㧔CCC㧕
2 3 3 4 7
ਇ⦟⾗↥ᢇᷣࡊࡠࠣࡓ㧔TARP㧕
Troubled Asset Relief Program
㧙 㧙 㧙 㧙 251
ߘߩઁ
Other Guaranteed Loan Programs
㧙 㧙 㧙 6 8
عᐭᡰេᯏ㑐 Government Sponsored Enterprises n.a. 4,797 5,583 6,258 6,345
ㅪ㇌ቛᛶᒰᐶ㧔Fannie Mae㧕 n.a. 2,528 2,658 2,955 3,083
ㅪ㇌ቛ⾉ઃᛶᒰ␠㧔Freddie Mac㧕 n.a. 1,543 1,969 2,135 2,172
ㅪ㇌ቛ⾉ઃ㌁ⴕ㧔Federal Home Loan Banks㧕 574 621 824 1,012 929
ㄘᬺା↪ࠪࠬ࠹ࡓ㧔Farm Credit System㧕 92 105 132 156 161
㧨ਛዊડᬺಽ㊁㧪
☨࿖ߩਛዊડᬺߦኻߔࠆ╷㊄Ⲣߪޔਛዊડᬺᐡ㧔Small Business Administration: SBA㧕
߇ᚲ▤ߒߡࠆޕSBAߪޔ1953ᐕߦ⸳┙ߐࠇߚ⁛┙ᯏ㑐ߢޔᰴߩ4ߟߩࡊࡠࠣࡓᯏ⢻ࠍ
ᜂߞߡࠆޕ
࿑ SBAߩᯏ⢻
ᯏ ⢻ ⷐ
㊄Ⲣᡰេ
ዊ ⷙ ᮨⲢ ⾗߆ ࠄ ᄢⷙ ᮨߥ Ⲣ ⾗ ⾗ᧄ ᛩ ⾗㧔 ࡌࡦ ࠴ ࡖ ࠠ ࡖ ࡇ࠲
࡞㧕߹ߢࠍታᣉޕ
ᚑ㐳ᡰេ
㧔ᢎ⢒ޔᖱႎޔᛛⴚᡰេ ⸠✵㧕
ਛ ዊ ડᬺ ߦኻ ߒ ߡޔ 㕙 ⺣߿ ࠗࡦ ࠲ ࡀ ࠶࠻ ߦ ࠃࠆ ࠞ࠙ ࡦ
ࡦࠣࠍታᣉޕ߹ߚޔ☨࿖߮☨࿖㗔ߩ1,800߆ᚲߢૐଔᩰߩ⎇ୃ
ࠍឭଏޕ
ᐭ⺞㆐ᡰេ
SBAߩਅㇱ⚵❱ߢࠆᐭᄾ⚂ቶ㧔Office of Government Contract㧕 ߪ ޔ ਛ ዊ ડ ᬺ ᴺ 㧔Small Business Act㧕Section15(g)ߩ ⷐ ᳞ ߦ ၮ ߠ
߈ޔ⋭ᐡߦࠃࠆ⺞㆐㗵ߩ 23㧑ࠍਛዊડᬺߣߩਥᄾ⚂ߦࠃࠆ߽ߩߣ
ߔߴߊޔઁ⋭ᐡߣߩ⋡ᮡ⸳ቯࠍⴕߞߡࠆޕ
ਛዊᬺᡰេ
㧔ਛዊડᬺߩჿࠍઍ㧕
ਛ ዊ ડᬺ ߩߚ ߦޔ ⼏ળ ߦ ࠃࠆ ᴺᓞ ൻ ߿⸽ ⸒ߩ ࡆࡘ ࠍ ታ ᣉޕ
߹ ߚ ޔਛ ዊડ ᬺ ߦߣ ߞߡ ߩ ᴺ⊛ ⽶ᜂ ߩ ⹏ଔ ߿ޔ ☨ ࿖ਛ ዊડ ᬺ ߮
ߘߩᬺⅣႺߦ㑐ߔࠆᄙ᭽ߥ⺞ᩏࠍታᣉޕ
⾗ᢱ㧕SBA࠙ࠛࡉࠨࠗ࠻
SBAߦࠃࠆ⋥ធⲢ⾗߮ௌോ⸽ࡊࡠࠣࡓߦߪᰴߩࠃ߁ߥ߽ߩ߇ࠆޕ
࿑ SBAߩା↪ࡊࡠࠣࡓ
ฬ ⒓ ⷐ
7㧔a㧕ࡊࡠࠣࡓ
᳃㑆ߩ⾉ߒᚻߦࠃࠆਛዊડᬺⲢ⾗㗵ߩᦨᄢ 85㧑߹ߢࠍௌോ⸽ߔ
ࠆ ࡊ ࡠ ࠣࡓ ޕ Ⲣ ⾗ߪޔ ㆇ ォ ⾗㊄ޔ ᯏ ᪾ ޔ⸳ ޔ ᑪ‛ޔ ․ ቯ ߩ
୫ࠅ឵߃ߣߞߚ᭽ޘߥ⋡⊛ߦ↪ߐࠇࠆޕ㧔ᓟㅀ㧕
CDC/504ࡊࡠࠣࡓ
ࠦ ࡒ ࡘ ࠾࠹ࠖ 㐿 ⊒ ࠍ⋡⊛ ߣ ߒ ߚ㐳ᦼ ߩ ௌ ോ⸽ ޕ ⚻ ᷣ㐿⊒ ࠍ ⋡ ⊛
ߣ ߔ ࠆ 㕖 ༡ ߩ ቯ 㐿 ⊒ ળ ␠ 㧔Certified Development Company㧦
CDC㧕߇ SBA ߮⾉ߒᚻߣදജߒߡⲢ⾗ࠍⴕ߁ޕਛዊડᬺ߇ᬺ
ᄢ ߹ ߚߪㄭ ઍ ൻ ߩߚ ߦ ਇ േ↥ޔ ᯏ ᪾ ޔ⸳ ࠍ ⾼ ߔࠆ ߚ ߩ
㐳ᦼ߆ߟ࿕ቯ₸ߩⲢ⾗ޕ
ࡑࠗࠢࡠⲢ⾗
ਛ ዊ ડ ᬺ ߿ ․ ቯ ߩ 㕖 ༡ ࿅ ߦ ኻ ߔ ࠆ ዋ 㗵 ⍴ ᦼ ߩ Ⲣ ⾗ ޕSBA ߪ ޔ 㕖 ༡࿅ ߳ ߩⲢ⾗ ߮ ᛛⴚᡰ េ ߩ ⍮ࠍ ᜬ ߟ ਛ㑆ᡰ េ ⚵ ❱
߇ ↪ น⢻ߥ ၮ ㊄ ࠍ⸳ߌ ޔ ਛ 㑆ᡰេ ⚵ ❱ ߆ࠄਛ ዊ ડ ᬺ㕖 ༡ ࿅
ߦኻߒߡⲢ⾗ࠍⴕ߁ޕਛዊડᬺߦኻߔࠆ 3 ਁ 5 ජ࠼࡞߹ߢߩ⍴
ߎߩ߁ߜޔਥⷐߥ߽ߩߣߒߡਛዊડᬺᴺ╙7᧦㧔a㧕ߦၮߠߊௌോ⸽߇ߍࠄࠇࠆޕ㧣
㧔a㧕ࡊࡠࠣࡓߪޔઁߩ㊄Ⲣᯏ㑐߆ࠄߩ୫߇ߢ߈ߥਛዊડᬺߦኻߒߡௌോ⸽ࠍⴕ߁
߽ߩߢࠆޕ7㧔a㧕ࡊࡠࠣࡓߪޔਛዊડᬺߦኻߒߡⲢ⾗ࠍⴕ߁⾉ߒᚻ㧔ᄙߊߩ႐วߪᏒ
ਛ㌁ⴕ㧕ߦኻߒߡ⸽ࠍⴕޔௌോਇጁⴕߣߥߞߚ႐วߦߪޔ⾉ߒᚻߦኻߒߡᱷ㜞ߩ৻ቯ
ഀว㧔೨ߦวᗧߒߡࠆഀวߢޔ৻⥸⊛ߦߪ 50㨪85㧑㧕߇ᡰᛄࠊࠇࠆߣ߁߽ߩߢࠆޕ
หࡊࡠࠣࡓߦࠃࠆ⸽ᢱߪޔ15ਁ࠼࡞એਅߪ2㧑ޔ15ਁ࠼࡞㨪70ਁ࠼࡞એਅߪ3㧑ޔ
70 ਁ࠼࡞ߪ 3.5㧑ߣߥߞߡࠆޕ⸽ᢱࠍ⽶ᜂߔࠆߩߪ㊄Ⲣᯏ㑐ߢࠆ߇ޔ୫ࠅᚻߢ
ࠆਛዊડᬺ߳ߩォᇾ߽น⢻ߢࠆޕ
㧨ቛಽ㊁㧪
☨࿖ߢߪޔⶄᢙߩᯏ㑐߇ቛߦ㑐ߔࠆ╷㊄Ⲣߩᵴേࠍᜂߞߡࠆޕਥⷐᯏ㑐ߩⷐߪ
ᰴߩߣ߅ࠅߢࠆޕ
࿑ ቛ㑐ㅪ╷㊄Ⲣᯏ㑐
ฬ⒓ ⚵❱ᒻᘒ ⷐ
ㅪ㇌ቛᐡ
Federal Housing Administration㧦
FHA
ㅪ㇌ᐭᯏ㑐
1934ᐕߦ⸳┙ޕ
FHA ᛚߩ⾉ߒᚻߦࠃࠆࡕࠥࠫߦኻߒߡ㒾ࠍߟߌ
ࠆ ߎ ߣ ࠍ ਥ ߥ ᬺ ോ ߣ ߔ ࠆ ޕ 㒾 ߩ ኻ ⽎ ߣ ߥ ࠆ ࡕ ࠥ ࠫ
ߪ ޔ ࡊ ࡂ ࡉ ቛ 㧔manufactured home㧕 ޔ ∛ 㒮 ࠍ ᚭ ᑪ߮㓸วቛޕ
ㅪ㇌ᐭᯏ㑐ߣߒߡ໑৻100㧑ߩ⥄Ꮖ⾗㊄ߦࠃߞߡㆇ༡ߐ
ࠇߡࠆޕ
ࠫ࠾ࡔࠗ
Government National Mortgage
Corporation㧦
GNMC
ㅪ㇌ᐭᛶᒰ㊄ᐶ
ㅪ㇌ᐭᯏ㑐
㧔HUD৻ㇱዪ㧕
1968 ᐕߦࡈࠔ࠾ࡔࠗ߇᳃༡ൻߐࠇࠆ㓙ߦಽ㔌ߒޔో
㗵ᐭ⾗ߩડᬺߣߒߡ⸳┙ޕ
ਥ ߥ ᬺ ോ ߪ ޔ ㅪ ㇌ ቛ ᐡ ߣ ㅌ ᓎ ァ ੱ ⋭ 㧔Department of
Veterans Affairs㧦VA㧕ࠍਥߣߔࠆㅪ㇌ᐭᯏ㑐߇⸽ߒߚ
ቛࡕࠥࠫ⸽ߩరᡰᛄࠍ⸽ߔࠆߎߣޕ
ࡈࠔ࠾ࡔࠗ
Federal National Mortgage
Association㧦
FNMA
ㅪ㇌ቛᛶᒰᐶ
GSE 㧔࿖ൻ㧕
1938 ᐕߦో࿖ቛᴺࠍᩮߦޔᓳ⥝㊄Ⲣ␠ߩሶળ␠ߣ
ߒߡᐭߩ100㧑ડᬺߣߒߡ⸳┙ޕ
1968 ᐕߦ 100㧑᳃㑆ᚲߩᩣᑼળ␠ߣߥࠅޔ1970 ᐕߦ࠾
ࡘ࡛ࠢ⸽ขᒁᚲߦ႐ޕ2010ᐕ7ߦ႐ᑄᱛޕ
⋥ ធ Ⲣ ⾗ ࠍ ⴕ ߁ ߩ ߢ ߪ ߥ ߊ ޔ ㊄ Ⲣ ᯏ 㑐 ߆ ࠄ ࡕ ࠥ ࠫ ࠍ
⾼ ߒ ߡ ޔ ቛ ࡠ ࡦ ߩ ੑ ᰴ Ꮢ ႐ ࠍ Ṗ ߦ ᯏ ⢻ ߐ ߖ ࠆ ߩ
߇⋡⊛ޕ
ࡈ ࠺ ࠖ ࡑ ࠶
ࠢ
Federal Home Loan
GSE
ቛ ↪ ਇ േ ↥ ߩ ᛶ ᒰ ⾉ ઃ ࠍ ᚻ ߇ ߌ ࠆ ⾂ ⫾ ⾉ ઃ ⚵ ว ⾂ ⫾ ㊄
Ⲣᯏ㑐㧔Savings and Loan Association㧦S&L㧕ߩෂᯏࠍฃ
ฬ⒓ ⚵❱ᒻᘒ ⷐ Mortgage
Corporation㧦FHLMC
ㅪ ㇌ ቛ ㊄ Ⲣ ᛶ ᒰ
ᐶ
1988ᐕߦ࠾ࡘ࡛ࠢ⸽ขᒁᚲߦ႐ޕ2010ᐕ7ߦ
႐ᑄᱛޕ
ࡈ ࠔ ࠾ ࡔ ࠗ ห ᭽ ޔ ⋥ ធ Ⲣ ⾗ ࠍ ⴕ ࠊ ߕ ޔ ㊄ Ⲣ ᯏ 㑐 ߆ ࠄ
ࡕ ࠥ ࠫ ࠍ ⾈ ข ߞ ߡ ቛ ⾗ ㊄ ࠍ ଏ ⛎ ߔ ࠆ ޕ ⾼ ߒ ߚ
ࡕ ࠥ ࠫ ߪ ޔ ቛ ࡠ ࡦ ᜂ ⸽ 㧔mortgage-backed
securities: MBS㧕ߣߒߡ⸽ൻߒޔ⽼ᄁߔࠆޕ
ㅪ ㇌ ቛ ⾉ ઃ ㌁
ⴕ
Federal Home Loan Banks㧦FHLBanks
GSE
12ߩFHLBanksࠍࡔࡦࡃߣߔࠆޕ
㊄Ⲣᯏ㑐ߪޔㅪ㇌ቛ⾉ઃ㌁ⴕᐲ㧔Federal Home Loan
Bank System㧕 ߩ ⸽ ࠍ ⾼ ߔ ࠆ ߎ ߣ ߢ ห ᐲ ߦ ෳ ട ߔ
ࠆޕෳട㊄Ⲣᯏ㑐ߪ8,000
7
ޕ
ෳ ട ㊄ Ⲣ ᯏ 㑐 ߇ ቛ ข ᓧ ߿ ޔ ㄘ ᬺ ࠦ ࡒ ࡘ ࠾ ࠹ ࠖ 㐿 ⊒ ߦ ኻ
ߒߡឭଏߔࠆⲢ⾗ߩ⾗㊄ឭଏࠍⴕ߁ޕ
⾗ᢱ㧕ฦᯏ㑐࠙ࠛࡉࠨࠗ࠻ޔᷰἑ⟵↵㧔2007㧕ޟ☨࿖ߦ߅ߌࠆ╷㊄Ⲣ̆ㅪ㇌ା↪ࡊࡠࠣࡓߩ᭴ㅧߣᡷ
㕟̆ޠޡࡈࠔࡦࠬ2007. 6ޢ
㧨ㄘᬺㄘಽ㊁㧪
ቛಽ㊁ߣห᭽ޔㄘᬺㄘ㐿⊒ಽ㊁ߢ߽ޔⶄᢙߩᯏ㑐߇╷㊄Ⲣࠍᜂߞߡࠆޕਥⷐ
ᯏ㑐ߩⷐߪᰴߩߣ߅ࠅߢࠆޕ
࿑ ㄘᬺㄘ㐿⊒㑐ㅪ╷㊄Ⲣᯏ㑐
ฬ⒓ ⚵❱ᒻᘒ ⷐ
ㄘኅࠨࡆࠬዪ
Farm Service Agency㧦FSA
ኅᣖ⚻༡⒟ᐲߩዊⷙᮨㄘኅ߿’႐ਥ╬߇ޔ৻⥸ߩᬺ
Ⲣ⾗ࠍฃߌࠄࠇߥ႐วߦޔㄘᚲ߮ㆇ༡ኻߔࠆ
⋥ធⲢ⾗߮ௌോ⸽ࠍⴕ߁ޕ
ㄘ ኅ ࠨ ࡆ ࠬ ዪ ߦ ࠃ ࠆ Ⲣ ⾗ ߪ ޔ ޔ ኅ ⇓ ޔ ຠ ޔ
㙄ޔ⒳⧣╬ߩ⾼ߦ↪ࠆߎߣ߇ߢ߈ࠆޕ
ㄘ ⋉ ᬺ ࠨ
ࡆࠬ
Rural Utilities Service
ㄘߩ㔚ജࠨࡆࠬࠍᡷༀߔࠆ⋡⊛ߢ⾉߮ௌോ
⸽ࠍታᣉޕ
ㄘၞቛዪ Rural Housing Service
ㅪ㇌ᐭᯏ㑐
㧔ㄘോ⋭৻ㇱዪ㧕
ቛ߮ࠦࡒࡘ࠾࠹ࠖᣉ⸳ߦኻߔࠆⲢ⾗ޔഥᚑ㊄߮
ᛛⴚᡰេࠍឭଏߔࠆޕ
ㄘᬺା↪ᐲ
Farm Credit System GSE
1916ᐕߦ⸳┙ߐࠇߚ☨࿖ᦨฎߩGSEޕ
5ߟߩㄘᬺା↪㌁ⴕߣ90ߩ⚵วߢ᭴ᚑޕ
ㄘኅޔ’႐ਥ╬ߦኻߒߡⲢ⾗ޔࠬ߮㑐ㅪࠨࡆ
ࠬࠍឭଏߔࠆޕ
ࡈ ࠔ ࡑ ࡑ ࠶
ࠢ Federal
GSE ㄘᬺା↪ᴺߦࠃࠅ1987ᐕߦ⸳┙ޕ
ㄘᬺਇേ↥ߣㄘቛߩࡕࠥࠫࠍ⸽ߒޔߘߩ 2
7
ฬ⒓ ⚵❱ᒻᘒ ⷐ Agricultural Mortgage
Corporation
ㅪ㇌ㄘᬺᛶᒰ␠
ᰴᏒ႐ࠍഃ⸳ߔࠆߎߣ߇⋡⊛ޕ
1990 ᐕߦߪޔㄘോ⋭ߩ⸽ߒߚㄘ᳃ㄘડᬺะߌ
ࡠࡦ╬ࠍ⾼ޔࡊ࡞ߒޔ⸽ൻߔࠆᮭ⢻ࠍਈ߃ࠄ
ࠇߚޕ
⾗ᢱ㧕ฦᯏ㑐࠙ࠛࡉࠨࠗ࠻ޔᷰἑ⟵↵㧔2007㧕ޟ☨࿖ߦ߅ߌࠆ╷㊄Ⲣ̆ㅪ㇌ା↪ࡊࡠࠣࡓߩ᭴ㅧߣᡷ
㕟̆ޠޡࡈࠔࡦࠬ2007. 6ޢ
㧨ャಽ㊁㧪
ャߩಽ㊁ߦߟߡߪޔャ㌁ⴕ㧔Export-Import Bank㧕ޔㄘോ⋭ޔ⽷ോ⋭ޔ࿖ോ⋭
╬߇ᵴേࠍⴕߞߡࠆޕߎࠇࠄߩᯏ㑐ߪޔャࠍⴕ߁ડᬺ╬ߦኻߒߡޔ⋥ធⲢ⾗ޔௌോ
⸽߮㒾ࠍឭଏߒߡࠆޕએਅߢߪޔャߦ㑐ߔࠆᬺോߦ․ൻߒߡࠆャ㌁ⴕ
ߦߟߡⷐࠍ⚫ߔࠆޕ
ャ㌁ⴕߪޔ1934 ᐕߦ࠾ࡘ࠺ࠖ࡞╷ߩ৻Ⅳߣߒߡᄖ╷ࠍᡰេߔࠆ⋡⊛ߢ⸳
┙ߐࠇߚޕหⴕߪޔ☨࿖ߦ߅ߡ⡯ᬺࠍഃ⛽ᜬߒޔ⚻ᷣᒝൻߦ⽸₂ߔࠆߚߦޔᄢዊ
᭽ޘߥડᬺߩャᡰេࠍⴕ߁ޕหⴕߩࡊࡠࠣࡓߦߪޔᵹേ⾗↥⸽㧔ャ೨㊄Ⲣ㧕ޔャ
ା↪⸽ޔャ⸽߮⋥ធⲢ⾗ࠍⴕߞߡࠆޕ
㧨ᢎ⢒ಽ㊁㧪
ᢎ⢒ಽ㊁ߦ㑐ߒߡߪޔ1960 ᐕઍඨ߫ߦഃߐࠇߚᐭ⸽᳃㑆ࡠࡦ㧔FFELP㧕ߦട߃ޔ
ࠢࡦ࠻ࡦᮭᤨߩ1993ᐕߦቇ↢ࡠࡦᡷ㕟ᴺ㧔Student Loan Reform Act㧕ߦࠃࠅᐭ⋥
ធࡠࡦ㧔DLP㧕ߩዉ߇ࠄࠇߚޕߘߩᓟ߽ޔᐭ⸽᳃㑆ࡠࡦ߇ㅪ㇌ᐭߦࠃࠆ
ᡰេߩਛᔃߢߞߚ߇ޔࠝࡃࡑᮭߩㅪ㇌ᢎ⢒ࡠࡦߩᡷ㕟ឭ᩺ࠍฃߌޔ2010ᐕ71ᣣ
߆ࠄߪᐭ⋥ធࡠࡦߦ৻ᧄൻߐࠇߚ
8
ޕએਅߢߪޔㅪ㇌ᐭߦࠃࠆⲢ⾗ࡊࡠࠣࡓߦଥࠆ
ᯏ㑐ߣߒߡޔㅪ㇌ቇ↢ᡰេቶ߮ࠨࡔࠗࠍ⚫ߔࠆޕ
1998ᐕߩ㜞╬ᢎ⢒ᴺ㧔Higher Education Act㧦HEA㧕ߩౣᛚߦࠃࠅޔㅪ㇌ᐭߦࠃࠆቇ
↢ᡰេࡊࡠࠣࡓߩ⋙〈ᯏ㑐ߣߒߡޔᢎ⢒⋭ౝߦㅪ㇌ቇ↢ᡰេቶ㧔Office of Federal Student
Aid㧦FSA㧕߇⸳┙ߐࠇߚޕFSAߩࡊࡠࠣࡓߪޔഥᚑ㊄ޔൕഭቇ⠌߮⋥ធⲢ⾗ߩ3ߟߩ
ᒻᑼߦಽ߆ࠇߡࠆޕ⋥ធⲢ⾗ߪޔഥᚑࠅ߮ഥᚑߥߒߩቇ↢ะߌⲢ⾗ޔⷫ߮ᄢቇ㒮
↢ะߌⲢ⾗ޔቇ↢ߣⷫਔ⠪߳ߩ⛔วⲢ⾗ߣ߁ኻ⽎⠪ࡊࡠࠣࡓߣߥߞߡࠆޕߘࠇߙ
ࠇߩⲢ⾗ߩሶ₸ߪޔFSAߩ࠙ࠛࡉࠨࠗ࠻ߢߐࠇߡࠆޕ
ᢎ⢒ಽ㊁ߩ╷㊄Ⲣߢޔᵈ⋡ߔߴ߈ᯏ㑐ߣߒߡߪઁߦࠨࡔࠗ㧔SLM Corporationޔቇ
↢㊄Ⲣᐶ㧕߇ࠆޕࠨࡔࠗߪޔ1972ᐕޔቇ↢Ⲣ⾗ࠍ⸽ߔࠆߚߩ2ᰴᏒ႐ࠍ⊒ዷ
ߐߖࠆ⋡⊛ߢGSEߣߒߡ⸳┙ߐࠇߚޕߘߩᓟޔቢో᳃༡ൻߐࠇޔ࠾ࡘ࡛ࠢ⸽ขᒁᚲ
8
ችᧄ⍮ሶ㧔2010㧕ޟࡆࠫࡀࠬࡕ࠺࡞ߩᄌ㕟ࠍㅴࠆࠨࡔࠗޠޡ㊁⾗ᧄᏒ႐ࠢࠜ࠲2010
ߦ႐ߒߡࠆޕࠨࡔࠗߪޔⓍᭂ⊛ߦᬺߩᄢࠍⴕޔᢎ⢒ࡠࡦᏒ႐ߢୟ⊛ߥ
ࠍභࠆߦ⥋ߞߡࠆޕ
㧔2㧕⚵❱
ᐭㇱౝߦ߅ߡߪޔⴕ▤ℂ੍▚ᐡ㧔OMB㧕ㅪ㇌⽷ോ▤ℂㇱ⽷ോಽᨆࠪࠬ࠹ࡓቶ߮
⽷ോ⋭࿖ౝ㊄Ⲣዪ߇ޔฦᐭᯏ㑐╬߇ታᣉߔࠆ╷㊄Ⲣࡊࡠࠣࡓࠍ৻ర⊛ߦ࠴ࠚ࠶ࠢ
ߔࠆߣߒߡࠆޕOMBㅢ㆐A-129߇ߘߩࠅᚲߣߥߞߡࠆޕ
㧨ⴕ▤ℂ੍▚ᐡ㧪
OMBㅢ㆐A-129ߩⷙቯߦࠃࠇ߫ޔⴕ▤ℂ੍▚ᐡߩᮭ㒢ߪએਅߩߣ߅ࠅޕ
¾ା↪ࡊࡠࠣࡓߩᣂ⸳ޔᣢሽߩା↪ࡊࡠࠣࡓߩలᑧ㐳ߦଥࠆ┙ᴺߩࡆࡘ
¾ฦ⋭ᐡߩㅪ㇌ା↪ᡷ㕟ᴺ߳ߩㆡว⁁ᴫߩࡕ࠾࠲ࡦࠣ
¾ฦ⋭ᐡߩା↪ࡊࡠࠣࡓႎ๔ၮḰⷐ⺧㗄ߩᒻᚑ⋥ߒ
¾ା↪ࡊࡠࠣࡓௌᮭ࿁ߦ㑐ߔࠆ⼏ળ⸽⸒ߩࡆࡘน
¾ା↪ࡊࡠࠣࡓௌᮭ࿁ᵴേߦ㑐ߔࠆฦ⋭ᐡߩ੍▚ⷐ᳞ߩࡆࡘ
¾ା↪ࡊࡠࠣࡓߩࠦࠬ࠻⸘▚ߦ↪ࠄࠇࠆޟㅪ㇌ା↪ഥ㊄⸘▚ᴺ㧔Federal credit
subsidy calculator㧕ޠߩ㐿⊒⛽ᜬ
¾ା↪ࡊࡠࠣࡓ▤ℂௌᮭ࿁ᣇ㊎ߩᒻᚑࡆࡘ
¾ฦ⋭ᐡߩା↪ࡊࡠࠣࡓ▤ℂௌᮭ࿁⸘↹ߩᛚ
¾ା↪ଏਈᐭᯏ㑐ߦኻߔࠆᢎ⢒⎇ୃߩታᣉ
㧨⽷ോ⋭㧪
OMBㅢ㆐A-129ߩⷙቯߦࠃࠇ߫ޔ㑐ㅪߔࠆ⽷ോ⋭ౝㇱዪߣߒߡޔ࿖ౝ㊄Ⲣዪ㧔Office of
Domestic Finance㧕ߣ⽷ോ▤ℂዪ㧔Financial Management Service㧦FMS㧕߇ሽߔࠆޕ 1㧕࿖ౝ㊄Ⲣዪ
ⴕ▤ℂ੍▚ᐡߣหߒߡޔㅪ㇌ା↪╷ߩ㐿⊒ޔା↪ࡊࡠࠣࡓߩᣂ⸳߿ᣢሽߩା↪
ࡊࡠࠣࡓߩలᑧ㐳ߦଥࠆ┙ᴺߩࡆࡘࠍታᣉߔࠆޕ
2㧕⽷ോ▤ℂዪ
1996ᐕௌᮭ࿁ᡷༀᴺ㧔Debt Collection Improvement Act㧦DCIA㧕ߦၮߠߊᐭᮮᢿ⊛ߥ
ௌᮭ࿁ⷙࠍផㅴߔࠆ┙႐ߦࠆޕ
㧨ㅪ㇌ା↪╷ࡢࠠࡦࠣࠣ࡞ࡊ㧪
⋭ᐡᮮᢿ⊛ߥળวߢޔⴕ▤ℂ੍▚ᐡ߿⽷ോ⋭ߦࠃࠆା↪╷ߩᒻᚑዉߦ㓙ߒߡഥ
⸒ᡰេࠍⴕ߁ߎߣࠍ⋡⊛ߣߒߡࠆޕᄢ⛔㗔ቭ㇗ޔ⚻ᷣഥ⸒ᆔຬળޔⴕ▤ℂ੍▚ᐡޔ
⽷ോ⋭ߩߘࠇߙࠇߩઍߦࠃߞߡࡔࡦࡃ߇᭴ᚑߐࠇޔା↪ࡊࡠࠣࡓௌᮭ࿁ࠍⴕ
ᴺ⋭ޔഭ⋭ޔ࿖ോ⋭ޔㆇャ⋭ޔㅌᓎァੱ⋭ޔ࿖㓙េഥᐡޔャ㌁ⴕޔㅪ㇌㗍㊄㒾
␠ޔਛዊડᬺᐡ㧕߽ෳടߒߡࠆޕ⼏㐳ߪⴕ▤ℂ੍▚ᐡ㐳ቭ߇ോࠆޕ
⼏ળߦ߅ߡߪޔ⼏ળ੍▚ዪ㧔Congressional Budget Office: CBO㧕੍▚ಽᨆᜂᒰ㐳ቭቶ
߇ฦࡊࡠࠣࡓࠍࡕ࠾࠲ࡦࠣޔᢙᄙߊߩࡐ࠻ࠍ⊒ޕ
㧔3㧕ᴺࠟࠗ࠼ࠗࡦ╬
2000ᐕ11ߦOMBㅢ㆐A-129㧔ㅪ㇌ା↪ࡊࡠࠣࡓߩࡑࡀࠫࡔࡦ࠻㧕ࠍᡷቯޕㅪ㇌ା
↪ࡊࡠࠣࡓߩᱜᒰൻ⸳⸘ࡑࡀࠫࡔࡦ࠻ޔ߮㕖⒢ฃขൊቯ㧔non-tax receivable㧕ߩ
㓸ߦ㑐ߔࠆ╷ᚻ⛯ࠍⷙቯߒߚ߽ߩޕ
࿑ OMBㅢ㆐A-129ߩ᭴ᚑ
ో⥸⊛㗄㧔General Information㧕
⋡⊛Purpose
ᮭ㒢Authority
ኻ⽎▸࿐Coverage
ᣥขߩᑄᱛRescissions
⊒ⴕᦼ㒢Effective Date
ᾖળవInquiries
ቯ⟵Definitions
⺰A㧔Appendix A㧕
I㧚ฦ⋭ᐡߩ⽿ോ㧔Responsibilities Of Departments and Agencies㧕
1㧚ⴕ▤ℂ੍▚ᐡ
2㧚⽷ോ⋭
3㧚ㅪ㇌ା↪╷ࡢࠠࡦࠣࠣ࡞ࡊ
4㧚⋭ᐡ
II㧚ା↪ࡊࡠࠣࡓߩ੍▚┙ᴺ╷㧔Budget and Legislative Policy for Credit Programs㧕
1㧚ᣉ╷ߩࡆࡘ
2㧚ᡰេᒻᘒ
3㧚⽷ോၮḰ
4㧚ታⴕ
III㧚ା↪ࡊࡠࠣࡓߩ▤ℂᒛᣇ㊎㧔Credit Management and Extension Policy㧕
A㧚ା↪ࡊࡠࠣࡓߩᒛᣇ㊎
B㧚ା↪⸽ଏਈᯏ㑐หࠨࡆࠬߩ▤ℂ
IV㧚ㅪ㇌ᐭ߆ࠄߩฃ⋉⠪ߩ▤ℂ㧔Managing The Federal Government’s Receivables㧕
V㧚⟵ോਇጁⴕௌോߩ࿁㧔Delinquent Debt Collection㧕
⺰B㧔Appendix B㧕
ା↪⸽ࡊࡠࠣࡓߩ┙ᴺൻ⼏ળ⸽⸒੍▚ឭߦ㑐ߔࠆ࠴ࠚ࠶ࠢࠬ࠻
2
㧚 ⧷࿖ߦ߅ߌࠆ╷㊄Ⲣߩⷐߣ․ᓽ
㧔1㧕╷㊄Ⲣߩో㊀ὐಽ㊁
⧷࿖ߦ߅ߡߪޔ╷㊄Ⲣߦ㑐ߔࠆ෩ኒߥቯ⟵ߪߥߊޔߘ߽ߘ߽⻉ᄖ࿖ߦᲧߴߡ╷㊄
Ⲣߪ߹ࠅᵴ⊒ߦⴕࠊࠇߡߥޕᱧผ⊛ߦ᳃㑆㊄Ⲣ⾗ᧄᏒ႐ߩ⊒㆐ᐲว߇㜞ߊޔ
╷㊄Ⲣ߇ߔࠆᔅⷐᕈ߇ߘࠇ߶ߤ㜞ߊߥ߆ߞߚߎߣ╬߇㑐ଥߒߡࠆߣ⸒߃ࠆޕ
੍ ▚ ߦ ߟ ߡ ߪ ޔ ᚒ ߇ ࿖ ߩ ⽷ ᛩ Ⲣ ⾗ ᐲ ߦ ᢜ ߔ ࠆ ࿖ ኅ ⾉ ઃ ㊄ ൊ ቯ 㧔National Loan
Fund㧦NLF㧕ߦࠃࠅ␜ߐࠇࠆ߽ߩߩޔ╷㊄Ⲣࡊࡠࠣࡓࠍ൮⊛ߦ▤ℂߔࠆᨒ⚵ߺߪሽ
ߒߡߥޕ
ታ㓙ߦⴕࠊࠇߡࠆ╷㊄Ⲣߣߒߡߪޔ⋥ធⲢ⾗ޔௌോ⸽ޔ㒾ޔሶ⛎╬߇ࠆ
߇ޔᄢඨߪᬺⲢ⾗ᆔຬળ㧔Public Works Loan Board㧦PWLB㧕ࠍㅢߓߚޔᣇ࿅
߳ߩⲢ⾗ߢࠆޕ⧷࿖ߦ߅ߌࠆㄭᐕߩ╷㊄Ⲣߩታ❣ߪએਅߩߣ߅ࠅߢࠆޕ
࿑ ⧷࿖ߦ߅ߌࠆ╷㊄Ⲣߩ⾉ᱷ㜞ផ⒖㧔න㧦10ంࡐࡦ࠼㧕
ᣇ ࿅ ะ ߌ
ߘ ࠇ એ ᄖ
㧔ਛᄩᐭᐭડᬺ╬㧕
࿑ ࿖ኅ⾉ઃ⾗㊄ൊቯ㧔NLF㧕߮ᬺⲢ⾗ᆔຬળ㧔PWLB㧕ߩ ᣇ࿅ะߌࡠࡦ
න㧦⊖ਁࡐࡦ࠼ 2006 2007 2008 2009
ع࿖ኅ⾉ઃ⾗㊄ൊቯ Total National Loans Fund loans outstanding 2,964 3,022 2,971 2,853
Loans within central government
Northern Ireland Exchequer 1,503 1,608 1,589 1,486
ਛᄩᐭㇱౝ
Married Quarters for Armed Forces 50.1 48.3 46.4 44.4
Loans to private sector 㧙 㧙 㧙 㧙
᳃㑆ડᬺะߌ
Housing associations 㧙 㧙 㧙 㧙
Loans to Public Corporations
Royal Mail Group plc 500.0 500.0 500.0 500.0
West of Scotland Water Authority 402.4 377.4 357.4 352.4
North of Scotland Water Authority 226.5 226.5 226.5 226.5
East of Scotland Water Authority 213.0 203.0 203.0 201.0
Royal Mint 22.5 14.9 8.1 7.4
Civil Aviation Authority 11.0 10.1 9.1 8.0
British Waterways Board 10.6 9.9 7.9 6.8
New Towns Develop Corps & Commission 7.9 7.9 7.9 7.9
Ordnance Survey 8.0 7.3 6.7 6.2
Development Board for Rural Wales 4.0 3.9 3.9 3.9
Registers of Scotland 3.2 3.1 3.0 3.0
Housing Corporation (England) 1.4 1.4 1.4 㧙
␠ะߌ
Harbour Authorities 0.1 0.1 0.1 0.1
عᣇ࿅ะߌ Loans to local authorities 47,123 48,111 50,753 㧙
⾗ᢱ㧕Annual Abstract of Statisticsࠃࠅᚑ
⧷࿖ߦ߅ߡߪޔ⧷࿖ᐭߦࠃߞߡታᣉߐࠇࠆ╷㊄ⲢߩઁޔEU ోߣߒߡታᣉߐࠇ
ࠆ╷㊄Ⲣ߇ࠆޕએਅޔ㊀ὐಽ㊁ߏߣߦޔ⧷࿖ᐭ߮ EU ߩ╷㊄Ⲣߩⷐࠍᢛℂߒ
ߡߊޕ
㧨ਛዊડᬺಽ㊁㧪
٤⧷࿖ߦ߅ߌࠆਛዊડᬺಽ㊁ߩ╷㊄Ⲣ
⧷࿖ߦ߅ߌࠆਛዊડᬺߦኻߔࠆ╷㊄Ⲣߦߟߡߪޔࡆࠫࡀࠬࠗࡁࡌ࡚ࠪࡦᛛ⢻
⋭㧔Department for Business, Innovation and Skill㧦BIS㧕ࠍㅢߓߡᐭ߇ᚲߔࠆᐭડᬺߢ
ࠆࠠࡖࡇ࠲࡞ࡈࠜࠛࡦ࠲ࡊࠗ࠭␠㧔Capital for Enterprise Ltd㧦CfEL㧕ߦࠃߞ
ߡޔડᬺௌോ⸽㧔Enterprise Finance Guarantee㧦EFG㧕߇ឭଏߐࠇߡࠆޕEFGߪޔਛዊ
ડᬺ߇ㆇォ⾗㊄߿ᛩ⾗⾗㊄ࠍ₪ᓧߔࠆߩࠍᡰេߔࠆߎߣࠍ⋡⊛ߣߒߡޔ⾉ઃᬺ⠪ߦኻߒߡ
ߔࠆޔ৻ᣇਛዊડᬺߪޔㅢᏱߩᛄߦട߃ߡᐕ㑆⸽ᢱߣߒߡ 2㧑ᡰᛄ߁ߎߣߦߥߞߡ
ࠆ߇ޔ᥊᳇⁁ᴫࠍ㐓ߺ2009ᐕߦߟߡߪ1.5㧑ߣߥߞߡࠆޕ߹ߚEFGߪޔᓥ᧪ឭଏߐ
ࠇߡߚਛዊડᬺௌോ⸽㧔Small Firms Loan Guarantee㧦SFLG㧕߇ᡷቯߐࠇߚ߽ߩߢࠅޔ
ࠃࠅᐢડᬺߦኻߒߡޔࠃࠅᄢ߈ߥᡰេࠍឭଏߔࠆޕౕ⊛ߦߪޔSFLG ߩ⾉㒢߇
25ਁࡐࡦ࠼ߢߞߚߩߦኻߒޔEFGߢߪ100ਁࡐࡦ࠼ߣߥߞߡ߅ࠅޔSFLG ߩኻ⽎ߣߥࠆ
☻⋉ߩ㒢߇5.6⊖ਁࡐࡦ࠼ߢߞߚߩߦኻߒޔEFGߢߪ25⊖ਁࡐࡦ࠼ߣߥߞߡࠆޕ
2009-10ᐕᐲ
9
߮2010-11ᐕᐲߦ߅ߌࠆޔEFGߩታ❣ߪએਅߩߩߣ߅ࠅߢࠆޕ
㩷
࿑ Enterprise Finance Guarantee㧔EFG㧕ߩታ❣
ᤨᦼ ࡠࡦߩⷙᮨ㧔㩫㧕
ឭ␜ߐࠇߚ ✚ᢙ
ឭ␜ߐࠇߚ ✚㗵㧔ජ㩫㧕
ᒁ߈ߐࠇߚ ✚ᢙ
ᒁ߈ߐࠇߚ ✚㗵㧔ජ㩫㧕
1,000 ~ 5,000 0 0 0 0
5,0001 ~ 20,000 1 18 1 18
20,001 ~ 50,000 4 143 4 143
50,001 ~ 100,000 2 169 2 169
100,001 ~ 150,000 1 150 1 150
150,001 ~ 200,000 0 0 0 0
200,001 ~ 250,000 0 0 0 0
250,001 ~ 500,000 0 0 0 0
500,001 ~ 1million 0 0 0 0
2009 -10
Total 8 480 8 480
1,000 ~ 5,000 0 0 0 0
5,0001 ~ 20,000 0 0 0 0
20,001 ~ 50,000 1 30 1 30
50,001 ~ 100,000 1 100 1 100
100,001 ~ 150,000 1 115 0 0
150,001 ~ 200,000 0 0 0 0
200,001 ~ 250,000 0 0 0 0
250,001 ~ 500,000 0 0 0 0
500,001 ~ 1million 0 0 0 0
2010 -11
Total 3 245 2 130
⾗ᢱ㧕⧷࿖⼏ળႎ๔
http://www.publications.parliament.uk/pa/cm201011/cmhansrd/cm101209/text/101209w0003.htm
ߥ߅ޔߎ߁ߒߚਛዊડᬺ╷ߦߟߡߪޔᓥ᧪ߢߪޔ2000 ᐕߦ⾏ᤃ↥ᬺ⋭㧔Department
for Trade and Industry㧦DTI㧕 ߩ ߽ ߣ ߦ ⸳ ┙ ߐ ࠇ ߚ ޔ ਛ ዊ ડ ᬺ ࠨ ࡆ ࠬ 㧔Small Business
Service㧦SBS㧕ߦࠃߞߡޔ⋭ᐡᮮᢿ⊛ߦ৻ర▤ℂߐࠇߡߚ㧔߃߫ޔᢥㇱ⋭ᚲ▤ߩᛛ⢻
ะᣉ╷ࠍਛዊડᬺߦߤߩࠃ߁ߦᓎ┙ߡߡߊ߆ޔ߹ߚᤋߐߖߡߊ߆ߦߟߡߪޔᢥ
ㇱ⋭ߢߪߥߊޔSBS ߩᚲ▤ߣߥߞߡߚ㧕ޕਛዊડᬺะߌߩ╷㊄Ⲣߦߟߡ߽ޔௌോ
⸽ࠍਛᔃߣߒߡޔSFLG ࠍታᣉߒߡߚઁޔᣇࡌࡦ࠴ࡖࠠࡖࡇ࠲࡞ࡈࠔࡦ࠼ޔࡂࠗ
࠹ࠢࡈࠔࡦ࠼ޔࠛࡦ࠲ࡊࠗ࠭ࠠࡖࡇ࠲࡞ࡈࠔࡦ࠼╬߳ߩ⾗ߦࠃࠆ㊄Ⲣᡰេ߽ⴕ
9
ߞߡߚޕ
٤EUߦ߅ߌࠆਛዊડᬺಽ㊁ߩ╷㊄Ⲣ
ਛዊડᬺߦኻߔࠆ╷㊄ⲢߦߟߡߪޔEU ߣߒߡ߽ታᣉߐࠇߡࠆޕ᰷Ꮊℂળߪޔ
㓹↪ࠍഃߔࠆ㕟ᣂ⊛ਛዊડᬺߦኻߔࠆ㊄Ⲣᡰេߣߒߡណᛯߒߚޟᚑ㐳ߣ㓹↪ߩࠗ࠾ࠪࠕ
࠴ࡉޠ㧔Growth and Employment Initiative㧕ߦ߅ߌࠆޔ㊄ⲢᚻᲑࠍలߒޔޟડᬺߣᬺኅ
♖ޔߣࠅࠊߌਛዊડᬺߩߚߩᄙᐕᐲ⸘↹ޠ㧔Multiannual Programme for Enterprise and
Entrepreneurship, and particular for Small and Medium-Sized Enterprise㧕ߢᒁ߈⛯߈ታᣉߔࠆߎ
ߣߣߒߡࠆޕEU ߩਛዊડᬺ╷ߪޔ⍮⼂ၮ⋚ဳ⚻ᷣߩ᭴▽ࠍ⋡ᜰߔࠬࡏࡦᚢ⇛ߩਅ
ߢ♽⊛ߦ᧤ߨࠄࠇߡ߈ߡ߅ࠅޔߘߩ㊀ⷐߥ৻ㇱߣߒߡਛዊડᬺ㊄Ⲣᡰេ╷߇ታᣉߐࠇߡ
ࠆޕEUߩਛዊડᬺ㊄Ⲣᣉ╷ߩ♽ߪએਅߩߣ߅ࠅߢࠆޕ
࿑ EUਛዊડᬺ㊄Ⲣᣉ╷ߩ♽
㗄 ⋡ ⷐ
ࠬ ࠢ ࠠ ࡖ ࡇ ࠲ ࡞ ࠕ ࠢ ࠪ ࡚ ࡦ ࡊ ࡦ
ࡌࡦ࠴ࡖࠠࡖࡇ࠲࡞ߩല₸⊛ޔ⛔ว⊛ߥᏒ႐ߩ⊒ዷߩଦㅴ
㊄Ⲣࠨࡆࠬࠕ࡚ࠢࠪࡦࡊࡦ ㊄Ⲣࠨࡆࠬߩන৻Ꮢ႐ߩᢛ
㌁ⴕߣ㈧㐳ડᬺߩ᰷Ꮊⴕേⷙ▸ ㌁ⴕޔਛዊડᬺޔળ⸘჻ߩਥⷐ࿅ߦࠃࠆⴕേⷙ▸ߩᢛ
ዊญⲢ⾗ ᭂߡዊߐߥડᬺߩഃߣ⊒ዷߩߚߩⲢ⾗ߩଦㅴ
㌁ⴕߣਛዊડᬺߩථળ⼏ ᐢ㊄Ⲣࠕࠢࠬߩ⺖㗴ߩ⼏⺰ޔࡌࠬ࠻ࡊࠢ࠹ࠖࠬߩ឵╬
ࡆࠫࡀࠬࠛࡦࠫࠚ࡞ ഃᬺޔࠕࠬ࠹ࠫߩࠛࠢࠗ࠹ࠖࡈࠔࠗ࠽ࡦࠬߩଦㅴ
᰷Ꮊᛩ⾗ᯏળ࠺࠲ࡌࠬ ᛩ⾗ኅ╬ߩࡀ࠶࠻ࡢࠢ߳ߩ㕟ᣂ⊛ߥਛዊડᬺߩࠕࠢࠬߩᡰេ
ਛዊડᬺߩ࡙ࡠዉߩḰ ࡙ࡠࠍዉߔࠆߚߩਛዊડᬺࠢ࠲ߩḰࠍᡰេ
ࡃ࡞⾗ᧄวᗧ ᣂߚߥ⾗ᧄวᗧߦࠃࠆਛዊડᬺ㊄Ⲣ߳ߩᓇ㗀ߣ⺖㗴߳ߩኻᔕ
㊄Ⲣ߳ߩࠕࠢࠬ ㊄Ⲣᄙ᭽ൻߦኻᔕߔࠆਛዊડᬺߩ㊄Ⲣ߳ߩࠕࠢࠬߩࠅᣇ
⋥ធⲢ⾗㧔ᛩ⾗⾗㊄ߩ㐳ᦼⲢ⾗㧕 ᰷Ꮊᛩ⾗㌁ⴕ
㑆ធⲢ⾗㧔ࠣࡠࡃ࡞ࡠࡦ㧕 ᰷Ꮊᛩ⾗㌁ⴕ
ௌോ⸽㧔EIF⾗㊄㧕 ᰷Ꮊᛩ⾗ၮ㊄
ޟᚑ㐳ߣⅣႺޠࠬࠠࡓ㧔ⅣႺ㑐ㅪ⸽㧕 ᰷Ꮊᛩ⾗ၮ㊄
ਛዊડᬺ⸽ࡈࠔࠪ࠹ࠖ ᰷Ꮊᛩ⾗ၮ㊄
ࡌࡦ࠴ࡖࠠࡖࡇ࠲࡞㧔EIBEIF⾗㊄㧕 ᰷Ꮊᛩ⾗ၮ㊄
᰷Ꮊᛛⴚࡈࠔࠪ࠹ࠖഃᬺࠬࠠࡓ ᰷Ꮊᛩ⾗⾗㊄
ࠪ࠼ࠠࡖࡇ࠲࡞ኻ╷ ᰷Ꮊᛩ⾗⾗㊄
㊄ⲢᚻᲑ
࡚ࠫࠗࡦ࠻࡛ࡠࡇࠕࡦࡌࡦ࠴ࡖ ᰷Ꮊᆔຬળ
ࠗࡁࡌ࡚ࠪࡦߣᛛⴚ⾗ᧄࡄࠗࡠ࠶࠻ࡊࡠࠫࠚࠢ࠻㧔I-TEC㧕
ࠕࠬ࠹ࠫᛛⴚࡌࡦ࠴ࡖࠠࡖࡇ࠲࡞ߩࡀ࠶࠻ࡢࠢ 㕟ᣂ⊛ᛛⴚߦኻߔࠆ㊄Ⲣߩ⸽ࡔࠞ࠾࠭ࡓ㧔⋧⸽ᯏ㑐╬㧕 ᣂᛛⴚၮ⋚ဳડᬺߩ⾗㊄⺞㆐㧔ᬺ㌁ⴕ㧕
ࠗࡁࡌ࡚ࠪࡦߩ㊄Ⲣ
ࠦࡐࠗ࠻ࡌࡦ࠴ࡖ㧔ࡌࡦ࠴ࡖࠠࡖࡇ࠲࡞㧕
⾗ᢱ㧕ਛዊડᬺ㊄Ⲣᐶ✚ว⎇ⓥᚲ㧔2005㧕ޟEU ਛዊડᬺ╷ߩᣂߚߥዷ㐿ߣ᰷Ꮊᛩ⾗ၮ㊄ߩᓎഀ㧙EU
ߩᄢߣ⍮⼂ၮ⋚ဳ⚻ᷣߩ᭴▽㧙ޠ
ᵈ㧕 ⸥ߪ৻⥸⊛ߥ㊄Ⲣᣉ╷ߢࠅޔ᭴ㅧၮ㊄
10
╬ߩ․ߥ߽ߩࠍ㒰ߊ
10
᭴ㅧၮ㊄㧔Structural Fund㧕ߣߪޔၞ㑆ᩰᏅᤚᱜߩߚߩޔࠊ߫EU㧔᰷Ꮊᆔຬળ㧕߆ࠄട⋖࿖㧔
EU ߦ ߅ ߡ ਛ ዊ ડ ᬺ ߦ ኻ ߔ ࠆ ╷ ㊄ Ⲣ ࠍ ታ ᣉ ߔ ࠆ ᯏ 㑐 ߣ ߒ ߡ ߪ ޔ ᰷ Ꮊ ᛩ ⾗ ㌁ ⴕ 㧔European Investment Bank㧦EIB㧕ߣ᰷Ꮊᛩ⾗ၮ㊄㧔European Investment Fund㧦EIF㧕ߣ߇ ࠆޕ
ع᰷Ꮊᛩ⾗㌁ⴕ㧔European Investment Bank㧦EIB㧕
᰷Ꮊᛩ⾗㌁ⴕߪޔEU ၞౝߩ⊒ዷߣ⛔วࠍ⋡⊛ߣߒߡ⸳┙ߐࠇߚ╷㊄Ⲣᯏ㑐ߢࠆޕ
᰷Ꮊᛩ⾗㌁ⴕߢߪޔEU ၞౝࠍਛᔃߣߒߡᐢಽ㊁ߦኻߒߡ㊄Ⲣᡰេࠍឭଏߒߡࠆޕ
ߚߛߒޔోߩ 15㧑ߪኻᄖะߌ㧔EU ട⋖↳⺧࿖߳ߩ⾉ޔࠕࡈࠞ╬߳ߩ⚻ᷣදജ⊛Ⲣ
⾗㧕ߩ㊄Ⲣᡰេߢࠆޕ
᰷Ꮊ ᛩ⾗㌁ ⴕ߇ ታᣉߔ ࠆ⾉ ߦߪ ޔ1㧕 ᰷Ꮊᛩ ⾗㌁ ⴕ߇⋥ ធክ ᩏߒޔ ℂ ળߢⲢ ⾗ ቯ
ࠍ ⴕ߁ Ⲣ ⾗ߣ ޔ2㧕᳃ 㑆ߩ ખ㊄ Ⲣᯏ 㑐ߦࠢ ࠫ ࠶࠻ ࠗ ࡦࠍ⸳ ቯߒ ޔਛዊ ડ ᬺ
ዊⷙᮨࠗࡦࡈะߌߦⲢ⾗ࠍⴕ߁㑆ធⲢ⾗ߣߩ 2 ⒳㘃߇ࠆޕౕ⊛ߦߪޔࠣࡠࡃ࡞ࡠ
ࡦޔࠗࡦ࠺ࠖࡆࠫࡘࠕ࡞ࡠࡦޔࠬ࠻ࠢ࠴ࡖ࠼ࡈࠔࠗ࠽ࡦࠬ㧔ࠪ࠾ࠕࡠࡦޔഠ
ᓟࡠࡦޔࡔࠩ࠾ࡦࡈࠔࠗ࠽ࡦࠬ╬㧕ࠍታᣉߒߡࠆޕߘߩઁޔ᰷Ꮊᛩ⾗ၮ㊄߳ߩᆔ⸤
ߦࠃࠅޔࡌࡦ࠴ࡖࠠࡖࡇ࠲࡞ࠍታᣉߒߡߚ߇ޔ2000ᐕߦ᰷Ꮊᛩ⾗ၮ㊄ߦ⒖▤ߒߚޕ
ߥ߅ޔ᰷Ꮊᛩ⾗㌁ⴕߢߪޔ⾉ߩㅘᕈะߦะߌޔ2001 ᐕ߆ࠄࡎࡓࡍࠫߦޔࡊ
ࡠࠫࠚࠢ࠻᩺ઙߩࠬ࠻ࠍឝタߒߡࠆޕน⢻ߥ㒢ࠅࡊࡠࠫࠚࠢ࠻ࠨࠗࠢ࡞ߩೋᦼᲑ㓏
߆ࠄᖱႎ㐿ߔࠆߣ߁ᣇ㊎ߢࠅޔℂળߩᛚ೨ߢߞߡ߽ޔ↳⺧⠪߆ࠄߩ․Ბߩⷐ
⺧߇ߥߌࠇ߫ޔࡊࡠࠫࠚࠢ࠻ߩⷐㅴ⁁ᴫ╬ࠍߒߡࠆޕ
ع᰷Ꮊᛩ⾗ၮ㊄㧔European Investment Fund㧦EIF㧕
᰷Ꮊᛩ⾗ၮ㊄ߪޔEU ၞౝߦ߅ߌࠆ⚻ᷣ␠ળߩ⛔วޔ․ߦਛዊડᬺߩ⊒ዷࠍ⋡⊛ߣߒ
ߡ⸳┙ߐࠇߚ╷㊄Ⲣᯏ㑐ߢࠆޕ᰷Ꮊᛩ⾗ၮ㊄ߪޔ᰷Ꮊᛩ⾗㌁ⴕߩࠣ࡞ࡊߢࠅޔኾ
㐷⊛ࠬࠢࠠࡖࡇ࠲࡞ㇱ㐷ߣߒߡߩᓎഀ߽ᜂߞߡࠆޕ
᰷Ꮊ ᛩ⾗ၮ ㊄ߩ ᬺോౝ ኈߣ ߒߡߪ ޔ1㧕 ਛዊડ ᬺࠍ ኻ⽎ߣ ߒߚ ࡌࡦ࠴ ࡖ ࠠࡖࡇ ࠲ ࡞
ࡈ ࠔࡦ ࠼߳ߩ ᛩ⾗ 㧔ࠬ ࠢࠠ ࡖࡇ࠲ ࡞ᛩ ⾗㧕ޔ2㧕᳃ 㑆ખ ㌁ⴕ Ⲣ⾗ߩ ⸽ ౣ ⸽ ߣ ߒ
ߡޔ᰷Ꮊᛩ⾗ၮ㊄⁛⥄ߩ⸽ࡊࡠࠣࡓޔ᰷Ꮊᆔຬળߩᆔ⸤ߦࠃࠆ EU ⸽ࡊࡠࠣࡓࠍ
ታᣉߒߡࠆޕߕࠇ߽ޔ⋥ធડᬺߦኻߒߡታᣉߔࠆߩߢߪߥߊޔ᳃㑆ߩ㊄Ⲣᯏ㑐ࠍㅢߓ
