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12 U.S.C. § 4624 — Reviews of enterprise assets and liabilities

submitted 18 years ago by Pub. L. 102-550 to r/title-12-BANKS-AND-BANKING · 193 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Director must set standards for the enterprises’ portfolio holdings and may adjust them temporarily. The Director may also require an enterprise to acquire or dispose of an asset under specified conditions.

(a) In general The Director must, by regulation, establish criteria governing the portfolio holdings of the enterprises, to ensure that the holdings are backed by sufficient capital and consistent with the mission and the safe and sound operations of the enterprises. In establishing such criteria, the Director must consider the ability of the enterprises to provide a liquid secondary market through securitization activities, the portfolio holdings in relation to the overall mortgage market, and adherence to the standards specified in section 4513b of this title . (b) Temporary adjustments The Director may, by order, make temporary adjustments to the established standards for an enterprise or both enterprises, such as during times of economic distress or market disruption. (c) Authority to require disposition or acquisition The Director must monitor the portfolio of each enterprise. under subsection (a) and despite the capital classifications of the enterprises, the Director may, by order, require an enterprise, under such terms and conditions as the Director determines to be appropriate, to dispose of or acquire any asset, if the Director determines that such action is consistent with the purposes of this Act or any of the authorizing statutes.

the actual law source: uscode.house.gov ↗public domain
(a) In general

The Director shall, by regulation, establish criteria governing the portfolio holdings of the enterprises, to ensure that the holdings are backed by sufficient capital and consistent with the mission and the safe and sound operations of the enterprises. In establishing such criteria, the Director shall consider the ability of the enterprises to provide a liquid secondary market through securitization activities, the portfolio holdings in relation to the overall mortgage market, and adherence to the standards specified in section 4513b of this title.

(b) Temporary adjustments

The Director may, by order, make temporary adjustments to the established standards for an enterprise or both enterprises, such as during times of economic distress or market disruption.

(c) Authority to require disposition or acquisition

The Director shall monitor the portfolio of each enterprise. Pursuant to subsection (a) and notwithstanding the capital classifications of the enterprises, the Director may, by order, require an enterprise, under such terms and conditions as the Director determines to be appropriate, to dispose of or acquire any asset, if the Director determines that such action is consistent with the purposes of this Act or any of the authorizing statutes.

Source credit: (Pub. L. 102–550, title XIII, § 1369E, as added Pub. L. 110–289, div. A, title I, § 1109(a)(2), July 30, 2008, 122 Stat. 2675.)

history & why it existsrecord from the source credit
  • 2008Enacted · Pub. L. 102-550 · 122 Stat. 2675

A history note hasn’t been published yet. The record shows enactment by Pub. L. 102-550 on 2008-07-30.

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