Page:United States Statutes at Large Volume 122.djvu/2699

 12 2 STA T . 2 67 6 PUBLIC LA W 11 0– 2 89—J UL Y3 0, 2008 ‘ ‘ (b)NOLIM I TA TIO N.— N othing in thi s s ec tion sh al lli m it the a u tho r it y o f the D irector to re q uire other re p orts or un d erta k ings , or take other action, in furtherance of the responsibilities of the Director under this A ct. ’ ’. (b) FED E R A LH OME LOAN B AN KSR ISK - BASED C A P ITAL.— S ection 6 (a)( 3 ) of the Federal Home Loan Bank Act ( 12U .S.C. 1 4 26(a)(3)) is amended— (1) by striking subparagraph (A) and inserting the fol- lo w ing

‘‘(A) RISK- B ASED C APITAL STANDARDS.— T he Director shall, by regulation, establish risk-based capital standards for the Federal Home Loan Banks to ensure that the Fed- eral Home Loan Banks operate in a safe and sound manner, with sufficient permanent capital and reser v es to support the risks that arise in the operations and management of the Federal Home Loans Banks.’’ and (2) in subparagraph (B), by striking ‘‘(A)(ii)’’ and inserting ‘‘(A)’’. SEC.1 111. MIN IM U MC AP I T A L LE V ELS. Section 1362 of the Federal Housing E nterprises Financial Safety and Soundness Act of 1 9 92 (12 U.S.C. 4612) is amended— (1) in subsection (a), by striking ‘‘ I N G ENERAL’’ and inserting ‘‘ENTERPRISES’’; and (2) by striking subsection (b) and inserting the following: ‘‘(b) FEDERAL HOME LOAN BANKS.—For purposes of this subtitle, the minimum capital level for each Federal Home Loan Bank shall be the minimum capital required to be maintained to comply with the leverage requirement for the bank established under section 6(a)(2) of the Federal Home Loan Bank Act (12 U.S.C. 1426(a)(2)). ‘‘(c) ESTABLIS H MENT O F RE V ISED M INIM U M CAPITAL LEVELS.— Notwithstanding subsections (a) and (b) and notwithstanding the capital classifications of the regulated entities, the Director may, by regulations issued under section 1319G, establish a minimum capital level for the enterprises, for the Federal Home Loan Banks, or for both the enterprises and the banks, that is higher than the level specified in subsection (a) for the enterprises or the level specified in subsection (b) for the Federal Home Loan Banks, to the e x tent needed to ensure that the regulated entities operate in a safe and sound manner. ‘‘(d) AUTHORIT Y TO RE Q UIRE TEMPORARY INCREASE.— ‘‘(1) IN G ENERAL.—Notwithstanding subsections (a) and (b) and any minimum capital level established pursuant to sub- section (c), the Director may, by order, increase the minimum capital level for a regulated entity on a temporary basis, when the Director determines that such an increase is necessary and consistent with the prudential regulation and the safe and sound operations of a regulated entity. ‘‘(2) RESCISSION.—The Director shall rescind any temporary minimum capital level established under paragraph (1) when the Director determines that the circumstances or facts no longer j ustify the temporary minimum capital level. ‘‘(3) REGULATIONS REQUIRED.—The Director shall issue regulations establishing— ‘‘(A) standards for the imposition of a temporary increase in minimum capital under paragraph (1); Regulations.

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