Page:United States Statutes at Large Volume 106 Part 5.djvu/311

 PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3949 (1) FINANCIAL OPERATING PLANS AND FORECASTS. — Before the beginning of each fiscal year, the Director shall submit a copy of the financial operating plans and forecasts for the Office to the Secretary and the Director of the Office of Management and Budget. (2) REPORTS OF OPERATIONS. —As soon as practicable after the end of each fiscal year and each quarter thereof, the Director shall submit a copy of the report of the results of the operations of the Office during such period to the Secretary and the Director of the Office of Management and Budget. (3) INCLUSION IN PRESIDENT'S BUDOET.The annual plans, forecasts, and reports required under this subsection shall be included (A) in the Budget of the United States in the appropriate form, and (B) in the congressional justifications of the Department of Hoiising and Urban Development for each fiscal year in a form determined by the Secretary. SEC. 1317. E3CAMINATIONS. 12 USC 4517. (a) ANNUAL EXAMINATION. —The Director shall anniially conduct an on-site examination under this section of each enterprise to determine the condition of the enterprise for the purpose of ensuring itsfinancialsafety and soimdness. (b) OTHER EXAMINATIONS. — In addition to annual examinations under subsection (a), the Director may conduct an examination under this section whenever the Director determines that an examination is necessary to determine the condition of an enterprise for the purpose of ensuring its financial safety and soundness. (c) EXAMINERS. — The Director shall appoint examiners to conduct examinations under this section. The Director may contract Contracts. with the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, or the Director of the Office of Thrift Supervision for the services of examiners. The Director shall reimburse such agencies for any costs of provi<iing examiners from amounts available in the Federal Hoiising Enterprises Oversight Fund. (d) LAW APPLICABLE TO EXAMINERS.—The Director and each examiner shall have the same authority and each examiner shall be subject to the same disclosures, prohibitions, obligations, and penalties as are applicable to examiners employed by the Federal Reserve banks. (e) TECHNICAL EXPERT;;.—The Director may obtain the services of any technical experts the Director considers appropriate to provide temporary technical assistance relating to examinations to the Director, officers, and employees of the Office. The Director shall describe, in the record oi each examination, the nature and extent of any such temporary technical assistance. (f) OATHS, EVIDENCE, AND SUBPOENA POWERS.— In connection with examinations under this section, the Director shall have the authority provided under sciction 1379B. SEC. 1318. PROHIBITION OF EXCESSIVE COMPENSATION. 12 USC 4518. (a) IN GENERAL.— The Director shall prohibit the enterprises fi:t)m providing compensation to any executive officer of the enterprise that is not reasonable and comparable with compensation for employment in other similar businesses (including other publicly held fmancial institutions or mcgor financial services companies) involving similar duties and responsibilities.

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