Page:United States Statutes at Large Volume 124.djvu/1842

 124 STAT. 1816 PUBLIC LAW 111–203—JULY 21, 2010 SEC. 808. EXAMINATION OF AND ENFORCEMENT ACTIONS AGAINST FINANCIAL INSTITUTIONS SUBJECT TO STANDARDS FOR DESIGNATED ACTIVITIES. (a) EXAMINATION.—The appropriate financial regulator is authorized to examine a financial institution subject to the stand- ards prescribed under section 805(a) for a designated activity in order to determine the following: (1) The nature and scope of the designated activities engaged in by the financial institution. (2) The financial and operational risks the designated activities engaged in by the financial institution may pose to the safety and soundness of the financial institution. (3) The financial and operational risks the designated activities engaged in by the financial institution may pose to other financial institutions, critical markets, or the broader financial system. (4) The resources available to and the capabilities of the financial institution to monitor and control the risks described in paragraphs (2) and (3). (5) The financial institution’s compliance with this title and the rules and orders prescribed under section 805(a). (b) ENFORCEMENT.—For purposes of enforcing the provisions of this title, and the rules and orders prescribed under this section, a financial institution subject to the standards prescribed under section 805(a) for a designated activity shall be subject to, and the appropriate financial regulator shall have authority under the provisions of subsections (b) through (n) of section 8 of the Federal Deposit Insurance Act (12 U.S.C. 1818) in the same manner and to the same extent as if the financial institution was an insured depository institution and the appropriate financial regulator was the appropriate Federal banking agency for such insured depository institution. (c) TECHNICAL ASSISTANCE.—The Board of Governors shall con- sult with and provide such technical assistance as may be required by the appropriate financial regulators to ensure that the rules and orders prescribed under this title are interpreted and applied in as consistent and uniform a manner as practicable. (d) DELEGATION.— (1) EXAMINATION.— (A) REQUEST TO BOARD OF GOVERNORS.—The appro- priate financial regulator may request the Board of Gov- ernors to conduct or participate in an examination of a financial institution subject to the standards prescribed under section 805(a) for a designated activity in order to assess the compliance of such financial institution with— (i) this title; or (ii) the rules or orders prescribed under this title. (B) EXAMINATION BY BOARD OF GOVERNORS.—Upon receipt of an appropriate written request, the Board of Governors will conduct the examination under such terms and conditions to which the Board of Governors and the appropriate financial regulator mutually agree. (2) ENFORCEMENT.— (A) REQUEST TO BOARD OF GOVERNORS.—The appro- priate financial regulator may request the Board of Gov- ernors to enforce this title or the rules or orders prescribed Consultation. 12 USC 5467.