Housing goals

12 U.S.C. § 1430c

• Title: 12 — Banks and Banking
• Chapter: 11 — FEDERAL HOME LOAN BANKS

Text

(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 4561 through 4564 of this title.
(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 July 30, 2008.
(d) 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.
(e) Annual report
The Director shall annually report to Congress on the performance of the Banks in meeting the goals established under this section.

History

(July 22, 1932, ch. 522, §10C, as added Pub. L. 110–289, div. A, title II, §1205, July 30, 2008, 122 Stat. 2786.)

Editorial Notes

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.