12 2 STA T .37 7 0PUBLIC LA W 110 – 3 4 3 —O CT. 3 , 200 8(3)PAYMENTSFRO MF U N D.—TheS e cr e ta r ys ha l l m a k e p ay - me n ts f r o m amo u nts d epos i ted in the F und to fulfill o b li g ations of the guarantees pro v ided to financial institutions under sub- section (a). SEC.103 .C ON S ID E RAT IONS. I ne x ercising the authorities granted in this A ct , the Secretary shall take into consideration— ( 1 ) protecting the interests of taxpayers by maximi z ing overall returns and minimizing the impact on the national debt
( 2 ) providing stability and preventing disruption to finan- cial markets in order to limit the impact on the economy and protect American j obs, savings, and retirement security; (3) the need to help families keep their homes and to stabilize communities; ( 4 ) in determining w hether to engage in a direct purchase from an individual financial institution, the long-term viability of the financial institution in determining whether the purchase represents the most efficient use of funds under this Act; ( 5 ) ensuring that all financial institutions are eligible to participate in the program, without discrimination based on size, geography, form of organization, or the size, type, and number of assets eligible for purchase under this Act; ( 6 ) providing financial assistance to financial institutions, including those serving low- and moderate-income populations and other underserved communities, and that have assets less than $ 1, 0 00,000,000, that were well or ade q uately capitalized as of J une 30, 200 8 , and that as a result of the devaluation of the preferred government-sponsored enterprises stock will drop one or more capital levels, in a manner sufficient to restore the financial institutions to at least an adequately capitalized level; ( 7 ) the need to ensure stability for U nited States public instrumentalities, such as counties and cities, that may have suffered significant increased costs or losses in the current market turmoil; (8) protecting the retirement security of Americans by pur- chasing troubled assets held by or on behalf of an eligible retirement plan described in clause (iii), (iv), (v), or (vi) of section 402(c)(8)( B ) of the Internal R evenue C odeof1 9 86, except that such authority shall not extend to any compensation arrangements subject to section 409A of such Code; and (9) the utility of purchasing other real estate owned and instruments backed by mortgages on multifamily properties. SEC. 10 4 . F INANCIA L STA B ILIT Y O V ERSI GH T BOARD. (a) E STA BLI S H MENT.—There is established the Financial Sta- bility O versight Board, which shall be responsible for— (1) reviewing the exercise of authority under a program developed in accordance with this Act, including— (A) policies implemented by the Secretary and the Office of Financial Stability created under sections 101 and 102, including the appointment of financial agents, the designation of asset classes to be purchased, and plans for the structure of vehicles used to purchase troubled assets; and 12USC5 21 4. 12 USC 521 3 .
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