Title 12 — Banks and Banking
Chapter 11 — Federal Home Loan Banks
§ 1430c. Housing goals
Statutory text
In general
The Director shall establish housing goals with respect to the purchase of mortgages, if any, by the Federal Home Loan Banks. Such goals shall be consistent with the goals established under sections 4561 through 4564 of this title.
Considerations
In establishing the goals required by subsection (a), the Director shall consider the unique mission and ownership structure of the Federal Home Loan Banks.
Transition period
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 .
Monitoring and enforcement of goals
The requirements of section 4566 1 of this title, shall apply to this section, in the same manner and to the same extent as that section applies to the Federal housing enterprises.
Annual report
The Director shall annually report to Congress on the performance of the Banks in meeting the goals established under this section.
Footnotes
- 1 See References in Text note below.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Federal Housing Finance Regulatory Reform Act of 2008
Pub. L. 110–289 div. A title II § 1205 · 122 Stat. 2654
Enacted · 12 U.S.C. § 1430c
(July 22, 1932, ch. 522, § 10C, as added Pub. L. 110–289, div. A, title II, § 1205, July 30, 2008, 122 Stat. 2786.)
Source evidence
Code source credit
(July 22, 1932, ch. 522, § 10C, as added Pub. L. 110–289, div. A, title II, § 1205, July 30, 2008, 122 Stat. 2786.)Enacted provision · exact public law section
SEC. 1205. HOUSING GOALS. The Federal Home Loan Bank Act (12 U.S.C. 1421 et seq.) is amended by inserting after section 10b the following new section: “SEC. 10C. HOUSING GOALS. “(a) In General.— The Director shall establish housing goals with respect to the purchase of mortgages, if any, by the Federal Home Loan Banks. Such goals shall be consistent with the goals established under sections 1331 through 1334 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992. “(b) Considerations.— In establishing the goals required by subsection (a), the Director shall consider the unique mission and ownership structure of the Federal Home Loan Banks. “(c) Transition Period.— 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) Monitoring and Enforcement of Goals.— The requirements of section 1336 of the Federal Housing Enterprises Safety and Soundness Act of 1992, shall apply to this section, in the same manner and to the same extent as that section applies to the Federal housing enterprises. “(e) Annual Report.— The Director shall annually report to Congress on the performance of the Banks in meeting the goals established under this section.” .
1 of 1 references resolved to an enrolled provision
Editorial Notes
References in Text
Section 4566 of this title, referred to in subsec. (d), was in the original “section 1336 of the Federal Housing Enterprises Safety and Soundness Act of 1992”, which was translated as meaning section 1336 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, to reflect the probable intent of Congress.
Credits
(July 22, 1932, ch. 522, § 10C, as added Pub. L. 110–289, div. A, title II, § 1205, , 122 Stat. 2786.)