^®: CRE Regulatory Action of the Week

President Signs Sequestration Order
President OBAMA signed a Sequestration Order for Fiscal Year 2016 Pursuant to Section 251A of the Balanced Budget and Emergency Deficit Control Act. This Sequestration Order requires that, on October 1, 2015, direct spending budgetary resources for fiscal year 2016 in each non-exempt budget account shall be reduced by the amount calculated by the Office of Management and Budget in its report to the Congress of February 2, 2015. All sequestrations shall be made in strict accordance with the requirements of section 251A of the Act and the specifications of the Office of Management and Budget's report of February 2, 2015, prepared pursuant to section 251A(9) of the Act.