12 2 STA T . 2 675PUBLIC LA W 11 0– 2 89—J UL Y3 0 , 2008 (1)bystrik i ng t he s u btit l e d esign a ti o n and heading and inserting the f ollo w ing
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‘ Subti t leB—R e q ui r e dCap ital L e v el sfo r Re g ulated En tities , Spe c ial Enforce m ent P o w ers, and Reviews of A ssets and Li - abilities ’ ’
and ( 2 ) by adding at the end the following new se c tion: ‘ ‘ SEC.1369 E. R E VI E W S OF E NT ER P RISE A SSETS AN DL IA B ILITIES. ‘ ‘(a) INGE NE RAL.—T he D irector shall , by regulation, establish criteria go v erning the p ortfolio holdings of the enterprises, to ensure that the holdings are backed by sufficient capital and consistent with the m ission and the safe and sound operations of the enter - prises. In establishing such criteria, the Director shall consider the ability of the enterprises to provide a li q uid secondary market through securiti z ation activities, the portfolio holdings in relation to the overall mortgage market, and adherence to the standards specified in section 1 3 13 B . ‘‘(b) TE MPO RAR YADJUST MENTS.—The Director may, by order, make temporary ad j ustments to the established standards for an enterprise or both enterprises, such as during times of economic distress or market disruption. ‘‘(c) AUT H OR I TY TO R E Q UIRE DISPOSITION OR A C QUISITION.— The Director shall monitor the portfolio of each enterprise. P ursuant 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. ’ ’. (b) RE G ULATIONS.— N ot later than the e x piration of the 1 80 - day period beginning on the effective date of this Act, the Director shall issue regulations pursuant to section 13 69E (a) of the F ederal H ousing Enterprises Financial S afety and Soundness Act of 1992 (as added by subsection (a) of this section) establishing the portfolio holdings standards under such section. SEC. 111 0 . RIS K- BASED CAPITAL RE QU IRE M ENTS. (a) IN GENERAL.—Section 1361 of the Federal Housing Enter- prises Financial Safety and Soundness Act of 1992 (12 U .S. C . 4 611) is amended to read as follows: ‘‘SEC. 1361. RISK-BASED CAPITAL LEVELS FOR RE G ULATED ENTITIES. ‘‘(a) IN GENERAL.— ‘‘(1) ENTERPRISES.—The Director shall, by regulation, estab- lish risk-based capital requirements for the enterprises to ensure that the enterprises operate in a safe and sound manner, maintaining sufficient capital and reserves to support the risks that arise in the operations and management of the enterprises. ‘‘(2) FEDERAL HOME LOAN B AN K S.—The Director shall estab- lish risk-based capital standards under section 6 of the Federal Home L oan Bank Act for the Federal Home Loan Banks. Stand a r d s.Regul at io ns. D eadline. Standards. 12U S C46 24 note. Regulations. Criteria. 12 USC 4624.
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