§1430c — Title 12 Banks and Banking | U.S. Code

Summary

The Director must set housing goals for mortgages the Federal Home Loan Banks buy, and those goals must be consistent with sections 4561–4564. They must consider the Banks’ mission and ownership, set interim targets for the 2 calendar years following July 30, 2008, apply section 4566 the same as for Federal housing enterprises, and report annually to Congress.

Title 12, §1430c

Banks and Banking — Source: USLM XML via OLRC

(a)The Director shall establish housing goals with respect to the purchase of mortgages, if any, by the Federal Home Loan Banks. Such goals shall be consistent with the goals established under sections 4561 through 4564 of this title.

(b)In establishing the goals required by subsection (a), the Director shall consider the unique mission and ownership structure of the Federal Home Loan Banks.

(c)To facilitate an orderly transition, the Director shall establish interim target goals for purposes of this section for each of the 2 calendar years following July 30, 2008.

(d)The requirements of section 4566 11 See References in Text note below. of this title, shall apply to this section, in the same manner and to the same extent as that section applies to the Federal housing enterprises.

(e)The Director shall annually report to Congress on the performance of the Banks in meeting the goals established under this section.

Notes & Related Subsidiaries

Editorial Notes

References in Text

section 4566 of this title, referred to in subsec. (d), was in the original “section 1336 of the Federal Housing Enterprises Safety and Soundness Act of 1992”, which was translated as meaning section 1336 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, to reflect the probable intent of Congress.

§1430c Housing Goals

Summary

Title 12, §1430c

Notes & Related Subsidiaries

Editorial Notes

References in Text

Citations & Metadata