Page:United States Statutes at Large Volume 122.djvu/2813

 12 2 STA T . 2 790PUBLIC LA W 110 – 2 8 9 —J UL Y3 0, 2008 SEC.12 1 0 . AUTHORI T Y TO RE D UCE DISTRICTS. Section3 o f t h e F e d e ralH o m e L oan B an kA ct (12U. S. C . 1 4 23 ) i s amended — (1) by strikin g‘ ‘As soon ’ ’ and inserting ‘‘(a) INGE NE RAL .— As soon’’ and (2) by adding at the end the follo w ing

‘‘(b) A UTHO R I T YT O R E D U C E D I S TRICTS.— N otwithstanding s u b - section (a) , the number of districts may be reduced to a number less than 8 — ‘‘(1) p ursuant to a v oluntary merger between Banks, as approved pursuant to section 2 6 (b); or ‘‘(2) pursuant to a decision by the Director to li q uidate a Bank pursuant to section 136 7 of the Federal Housing E nter- prises Financial Safety and Soundness Act of 1 9 92.’’. SEC. 1211. CO M MU N ITY F INANCIA L INSTITUTION MEM B ERS. (a) TOTAL ASSET RE Q UIRE M ENT.— P aragraph (1 0 ) of section 2 of the Federal Home Loan Bank Act (12 U.S.C. 1422(10)), as so redesignated by section 201(3) of this Act, is amended by striking ‘‘ $5 00,000,000’’ each place such term appears and inserting ‘‘$1,000,000,000’’. (b) USE O F AD V ANCES FOR COMMUNITY DEVELO P MENT ACTIVI- TIES.—Section 10(a) of the Federal Home Loan Bank Act (12 U.S.C. 1430(a)) is amended— (1) in paragraph (2)(B)— (A) by striking ‘‘and’’; and (B) by inserting ‘‘, and community development activi- ties’’ before the period at the end; (2) in paragraph (3)(E), by inserting ‘‘or community develop- ment activities’’ after ‘‘agriculture,’’; and (3) in paragraph (6)— (A) by striking ‘‘and’’; and (B) by inserting ‘‘, and ‘community development activi- ties’ ’’ before ‘‘shall’’. SEC. 1212. P UBLIC USE DATABASE REPORTS TO CON G RESS. Section 10 of the Federal Home Loan Bank Act (12 U.S.C. 1430) is amended— (1) in subsection ( j )(12)— (A) by striking subparagraph (C) and inserting the following: ‘‘(C) REPORTS.—The Director shall annually report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives on the collateral pledged to the Banks, including an analysis of collateral by type and by Bank district.’’; and (B) by adding at the end the following: ‘‘(D) SU B MISSION TO CON G RESS.—The Director shall submit the reports under subparagraphs (A) and (C) to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives, not later than 180 days after the date of enactment of the Federal Housing Finance Regulatory Reform Act of 2008.’’; and (2) by adding at the end the following: ‘‘(k) PUBLIC USE DATABASE.— Deadlin e .

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