Page:United States Statutes at Large Volume 106 Part 5.djvu/308

 106 STAT. 3946 PUBLIC LAW 102-550—OCT. 28, 1992 (6) approval of payments of capital distributions by the enterprises under section 303(c)(2) of the Federal National Mortgage Association Charter Act and section 303(b)(2) of the Federal Home Loan Mortgage Corporation Act; (7) requiring the enterprises to submit reports under section 1314 of this title, section 309(k) of the Federal National Mortgage Association Charter Act, and section 307(c) of the Federal Home Loan Mortgage Corporation Act; (8) prohibiting the payment of excessive compensation by the enterprises to any executive officer of the enterprises under section 1318; (9) the management of the Office, including the establishment and implementation of annual budgets, the hiring of, and compensation levels for, personnel of the Office, and annual assessments for the costs of the Office; (10) conducting research andfinancialanalysis; and (11) the submission of reports required by the Director under this title. (c) AUTHORITY SUBJECT TO APPROVAL OF SECRETARY. — Any determinations, actions, and fimctions of the Director not referred to in subsection (b) shall be subject to the review and approval of the Secretary. (d) DELEGATION OF AUTHORITY. —The Director may delegate to officers and employees of the Office any of the fimctions, powers, and duties of the Director, as the Director considers appropriate. (e) INDEPENDENCE IN PROVIDING INFORMATION TO CONGRESS.— The Director shall not be required to obtain the prior approval, comment, or review of any officer or agency of the Unitea States before submitting to the Congress, or any committee or subcommittee thereof, any reports, recommendations, testimony, or comments if such submissions include a statement indicating that the views expressed therein are those of the Director and do not necessarily represent the views of the Secretary or the President. 12 USC 4514. SEC. 1314. AUTHORnY TO REQUIRE REPORTS BY ENTERPRISES. (a) SPECIAL REPORTS AND REPORTS OF FINANCIAL CONDITION.— (1) FINANCIAL CONDITION. —The Director may require an enterprise to submit reports of financial condition and operations (in addition to the annual and quarterly reports required under section 309(k) of the Federal National Mortgage Association Charter Act and section 307(c) of the Federal Home Loan Mortgage Corporation Act). (2) SPECIAL REPORTS.— The Director may also require an enterprise to submit special reports whenever, in the judgment of the Director, such reports are necessary to carry out the purposes of this title. (3) LIMITATION.— The Director may not require the inclusion, in any report pursuant to paragraph (1) or (2), of any information that is not reasonably obtainable by the enterprise. (4) NOTICE AND DECLARATION.— The Director shall notify the enterprise, a reasonable period in advance of the date for submission of any report under this subsection, of any specific information to be contained in the report and the date for the submission of the report. Each report under this subsection shall contain a declaration by the president, vice president, treasurer, or any other officer designated by the board of directors of the enterprise to make such declaration, that

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