((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.