Page:United States Statutes at Large Volume 124.djvu/2093

 124 STAT. 2067 PUBLIC LAW 111–203—JULY 21, 2010 used and the amount of currency that the recipient of the remittance transfer received, using the values of the currency into which the funds were exchanged, as contained in sections 919(a)(2)(D) and 919(a)(3) of the Electronic Fund Transfer Act (as amended by this section). SEC. 1074. DEPARTMENT OF THE TREASURY STUDY ON ENDING THE CONSERVATORSHIP OF FANNIE MAE, FREDDIE MAC, AND REFORMING THE HOUSING FINANCE SYSTEM. (a) STUDY REQUIRED.— (1) IN GENERAL.—The Secretary of the Treasury shall con- duct a study of and develop recommendations regarding the options for ending the conservatorship of the Federal National Mortgage Association (in this section referred to as ‘‘Fannie Mae’’) and the Federal Home Loan Mortgage Corporation (in this section referred to as ‘‘Freddie Mac’’), while minimizing the cost to taxpayers, including such options as— (A) the gradual wind-down and liquidation of such entities; (B) the privatization of such entities; (C) the incorporation of the functions of such entities into a Federal agency; (D) the dissolution of Fannie Mae and Freddie Mac into smaller companies; or (E) any other measures the Secretary determines appropriate. (2) ANALYSES.—The study required under paragraph (1) shall include an analysis of— (A) the role of the Federal Government in supporting a stable, well-functioning housing finance system, and whether and to what extent the Federal Government should bear risks in meeting Federal housing finance objectives; (B) how the current structure of the housing finance system can be improved; (C) how the housing finance system should support the continued availability of mortgage credit to all segments of the market; (D) how the housing finance system should be struc- tured to ensure that consumers continue to have access to 30-year, fixed rate, pre-payable mortgages and other mortgage products that have simple terms that can be easily understood; (E) the role of the Federal Housing Administration and the Department of Veterans Affairs in a future housing system; (F) the impact of reforms of the housing finance system on the financing of rental housing; (G) the impact of reforms of the housing finance system on secondary market liquidity; (H) the role of standardization in the housing finance system; (I) how housing finance systems in other countries offer insights that can help inform options for reform in the United States; and (J) the options for transition to a reformed housing finance system. Recommenda- tions.