Page:United States Statutes at Large Volume 122.djvu/2810

 12 2 STA T . 2 78 7 PUBLIC LA W 11 0– 28 9—J UL Y3 0, 2008 HomeL o anB an ks.Suchg oa l s shall b e cons i s t ent w ith the goals establishe d unde r sections 13 31 through 133 4 o f the F ederal Housing E nter p rises Financial Safet y and Soundness A ctof1 9 9 2 . ‘ ‘ ( b )CONSIDERAT IONS. —I n establishing the goals re q uired by subsection (a) , the D irector shall consider the unique mission and ownership structure of the Federal Home Loan Banks. ‘‘(c) T RANSITION P ERIOD.—To facilitate an orderly transition, the Director shall establish interim target goals for purposes of this section for each of the 2 calendar years following the date of enactment of this section. ‘‘(d) M ONITORIN G AND EN F OR C E M ENT OF G OA L S.—The require - ments of section 133 6 of the Federal Housing Enterprises Safety and Soundness Act of 1992, shall apply to this section, in the same manner and to the same e x tent as that section applies to the Federal housing enterprises. ‘‘(e) ANN U AL R E P ORT.—The Director shall annually report to Congress on the performance of the Banks in meeting the goals established under this section. ’ ’. SEC.1206 .C OM M UNITYD E V E L O P MENT F IN A NCIAL INSTITUTIONS. Section 4(a)(1) of the Federal Home Loan Bank Act (12 U .S.C. 1424(a)(1)) is amended— (1) by inserting after ‘‘sa v ings bank,’’ the following

‘‘community development financial institution,’’ and (2) in subparagraph (B), by inserting after ‘‘United States,’’ the following: ‘‘or, in the case of a community development financial institution, is certified as a community development financial institution under the Community Development Banking and Financial Institutions Act of 1994.’’. SEC. 120 7 .S H A R IN G OF INFORMATION AMONG FEDERAL HOME LOAN B AN K S. The Federal Home Loan Bank Act is amended by inserting after section 2 0 (12 U.S.C. 1440) the following new section: ‘ ‘SEC. 20A. SHARING OF INFORMATION AMONG FEDERAL HOME LOAN BANKS. ‘‘(a) INFORMATION ON FINANCIAL CONDITION.—In order to enable each Federal Home Loan Bank to evaluate the financial condition of one or more of the other Federal Home Loan Banks individually and the Federal Home Loan Bank System (including any risks associated with the issuance or repayment of consolidated Federal Home Loan Bank bonds and debentures or other borrowings and the j oint and several liabilities of the Banks incurred due to such borrowings), as well as to comply with any of its obligations under the Securities Exchange Act of 1934 (1 5 U.S.C. 78 a et seq.), the Director shall make available to the Banks such reports, records, or other information as may be available, relating to the condition of any Federal Home Loan Bank. ‘‘(b) S H ARING OF INFORMATION.— ‘‘(1) IN GENERAL.—The Director shall promulgate regula- tions to facilitate the sharing of information made available under subsection (a) directly among the Federal Home Loan Banks. ‘‘(2) LIMITATION.— N otwithstanding paragraph (1), a Fed- eral Home Loan Bank responding to a request from another Bank or from the Director for information pursuant to this section may request that the Director determine that such Regulations. Re p o r ts. Re c or d s. 12USC 1 4 4 0 a.

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