PUBLIC LAW 101-73 —AUG. 9, 1989 103 STAT. 425 "(F) The Federal Housing Finance Board shall notify the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate not less than 60 days before such suspension takes effect. Such suspension shall become effective unless a joint resolution is enacted disapproving such suspension. "(7) FAILURE TO USE AMOUNTS FOR AFFORDABLE HOUSING. — If any Bank fails to utilize or commit the full amount provided in this subsection in any year, 90 percent of the amount that has not been utilized or committed in that year shall be deposited by the Bank in an Affordable Housing Reserve Fund administered by the Board. The 10 percent of the unutilized and uncommitted amount retained by a Bank should be fully utilized or commit- ted by that Bank during the following year and any remaining portion must be deposited in the Affordable Housing Reserve Fund. Under regulations established by the Board, funds from the Affordable Housing Reserve Fund may be made available to any Bank to meet additional affordable housing needs in such Bank's district pursuant to this section. "(8) NET EARNINGS.— The net earnings of any Federal Home Loan Bank shall be determined for purposes of this paragraph— "(A) after reduction for any payment required under section 21 or 21B of this Act; and "(B) before declaring any dividend under section 16. "(9) REGULATIONS.— The Federal Housing Finance Board shall promulgate regulations to implement this subsection. Such regulations shall, at a minimum— "(A) specify activities eligible to receive subsidized ad- vances from the Banks under this program; "(B) specify priorities for the use of such advances; "(C) ensure that advances made under this program will be used only to assist projects for which adequate long-term monitoring is available to guarantee that affordability standards and other requirements of this subsection are satisfied; "(D) ensure that a preponderance of assistance provided under this subsection is ultimately received by low- and moderate-income households; "(E) ensure that subsidies provided by Banks to member institutions under this program are passed on to the ulti- mate borrower; "(F) establish uniform standards for subsidized advances under this program and subsidized lending by member institutions supported by such advances, including maxi- mum subsidy and risk limitations for different categories of loans made under this subsection; and '*' "(G) coordinate activities under this subsection with A other Federal or federally-subsidized affordable housing activities to the maximum extent possible. "(10) OTHER PROGRAMS. — No provision of this subsection or subsection (i) shall preclude any Bank from establishing addi- tional community investment cash advance programs or contributing additional sums to the Affordable Housing Reserve Fund. "(11) ADVISORY COUNCIL.—Each Bank shall appoint an Ad- visory Council of 7 to 15 persons drawn from community and
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