Page:United States Statutes at Large Volume 122.djvu/2706

 12 2 STA T . 2 683PUBLIC LA W 11 0– 28 9—J UL Y 30, 2008 ‘ ‘ (f)DIVERS I TY I NAG EN C Y WO R KF ORCE .—The A g e ncys h al l t a k e aff irm ati v e ste p st o seek d iversity in its w orkforce at all levels of the agency consistent with the demographic diversity of the U nited S tates , which shall incl u de— ‘‘( 1 ) heavily recruiting at historically B lack colleges and universities, H ispanic - serving institutions, women ’ s colleges, and colleges that typically serve ma j ority minority populations ‘‘( 2 ) sponsoring and recruiting at jo b fairs in urban commu- nities, and placing employment advertisements in newspapers and maga z ines oriented toward women and people of color; ‘‘( 3 ) partnering with organizations that are focused on developing opportunities for minorities and women to place talented young minorities and women in industry internships, summer employment, and full-time positions; and ‘‘( 4 ) where feasible, partnering with inner-city high schools, girls’ high schools, and high schools with majority minority populations to establish or enhance financial literacy programs and provide mentoring.’’. SEC.1 11 7 . T E MPORA R Y A U T H OR I TY F OR PURCHASE OF O BL I G ATIO N S OF REGULATE D ENTITIES BY SECRETARY OF TREASURY. (a) FA NNIE M AE.—Section 3 0 4 of the Federal N ational Mortgage Association C harter Act (12 U.S.C. 1 7 1 9 ) is amended by adding at the end the following new subsection

‘‘(g) TE MP ORARY A U T H ORITY OF TREASURY TO P URCHASE OBL IGA- TIONS AN D SECURITIES; CONDITIONS.— ‘‘(1) AUTHORITY TO PURCHASE.— ‘‘(A) G ENERAL AUTHORITY.— I n addition to the authority under subsection (c) of this section, the Secretary of the Treasury is authorized to purchase any obligations and other securities issued by the corporation under any section of this Act, on such terms and conditions as the Secretary may determine and in such amounts as the Secretary may determine. Nothing in this subsection re q uires the corpora- tion to issue obligations or securities to the Secretary with- out mutual agreement between the Secretary and the cor- poration. Nothing in this subsection permits or authorizes the Secretary, without the agreement of the corporation, to engage in open market purchases of the common securi- ties of the corporation. ‘‘(B) E MERGENCY DETERMINATION RE Q UIRED.—In connection with any use of this authority, the Secretary must determine that such actions are necessary to— ‘‘(i) provide stability to the financial markets; ‘‘(ii) prevent disruptions in the availability of mort- gage finance; and ‘‘(iii) protect the ta x payer. ‘‘(C) CONSIDERATIONS.—To protect the taxpayers, the Secretary of the Treasury shall take into consideration the following in connection with exercising the authority contained in this paragraph: ‘‘(i) The need for preferences or priorities regarding payments to the Government. ‘‘(ii) L imits on maturity or disposition of obligations or securities to be purchased. ‘‘(iii) The corporation’s plan for the orderly resump- tion of private market funding or capital market access.

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