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S.190

Federal Housing Enterprise Regulatory Reform Act of 2005 (Introduced in Senate)
Beginning
 January 26, 2005
    SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
    Sec. 1. Short title; table of contents.
    Sec. 105. Examiners and accountants; authority to contract for reviews of enterprises.
    Sec. 122. Review of enterprise programs, and activities.
    Sec. 312. Continuation and coordination of certain regulations.Board.
    SEC. 2. DEFINITIONS.
 TITLE I--REFORM OF REGULATION OF ENTERPRISES
 Subtitle A--Improvement of Safety and Soundness Supervision
    SEC. 101. ESTABLISHMENT OF THE FEDERAL HOUSING ENTERPRISE REGULATORY AGENCY.
    `SEC. 1311. ESTABLISHMENT OF THE FEDERAL HOUSING ENTERPRISE REGULATORY AGENCY.
    `SEC. 1312. DIRECTOR.
    SEC. 102. DUTIES AND AUTHORITIES OF DIRECTOR.
    `SEC. 1313. DUTIES AND AUTHORITIES OF DIRECTOR.
    SEC. 103. FEDERAL HOUSING ENTERPRISE BOARD.
    `SEC. 1313A. FEDERAL HOUSING ENTERPRISE BOARD.
    SEC. 104. AUTHORITY TO REQUIRE REPORTS BY REGULATED ENTITIES.
    SEC. 105. EXAMINERS AND ACCOUNTANTS; AUTHORITY TO CONTRACT FOR REVIEWS OF REGULATED ENTITIES.
    SEC. 106. ASSESSMENTS.
    SEC. 107. REGULATIONS AND ORDERS.
    `SEC. 1319I. CLARIFICATION OF MISSION.
    SEC. 108. PRUDENTIAL MANAGEMENT AND OPERATIONS STANDARDS.
    `SEC. 1313A. PRUDENTIAL MANAGEMENT AND OPERATIONS STANDARDS.
    SEC. 109. LIMITATION ON NONMISSION-RELATED ASSETS.
 `Subtitle B--Required Capital Levels for Enterprises, Special Enforcement Powers, and Limitation on Nonmission-Related Assets';
    `SEC. 1369E. LIMITATION ON NONMISSION-RELATED ASSETS.
    SEC. 110. RISK-BASED CAPITAL TEST FOR ENTERPRISES.
    `SEC. 1361. RISK-BASED CAPITAL LEVELS.
    SEC. 111. LIMIT ON GOLDEN PARACHUTES.
    SEC. 112. REPORTING OF FRAUDULENT LOANS.
    `SEC. 1379E. REPORTING OF FRAUDULENT LOANS.
 Subtitle B--Improvement of Mission Supervision
    SEC. 121. TRANSFER OF PROGRAM APPROVAL AND HOUSING GOAL OVERSIGHT.
 `PART 2--PROGRAM APPROVAL BY THE DIRECTOR AND ESTABLISHMENT OF HOUSING GOALS';
    SEC. 122. REVIEW OF ENTERPRISE PROGRAMS.
    `SEC. 1319J. PRIOR APPROVAL AUTHORITY FOR NEW PROGRAMS.
    SEC. 123. AUTHORITY TO REQUIRE REPORTS BY ENTERPRISES.
    SEC. 124. MONITORING AND ENFORCING COMPLIANCE WITH HOUSING GOALS.
    SEC. 125. ASSUMPTION BY DIRECTOR OF OTHER HUD RESPONSIBILITIES.
    SEC. 126. ADMINISTRATIVE AND JUDICIAL ENFORCEMENT PROCEEDINGS.
 Subtitle C--Prompt Corrective Action
    SEC. 141. CAPITAL CLASSIFICATIONS.
    SEC. 142. SUPERVISORY ACTIONS APPLICABLE TO UNDERCAPITALIZED REGULATED ENTITIES.
    SEC. 143. SUPERVISORY ACTIONS APPLICABLE TO SIGNIFICANTLY UNDERCAPITALIZED REGULATED ENTITIES.
    SEC. 144. AUTHORITY OVER CRITICALLY UNDERCAPITALIZED ENTERPRISES.
    `SEC. 1367. AUTHORITY OVER CRITICALLY UNDERCAPITALIZED ENTERPRISES.
 Subtitle D--Enforcement Actions
    SEC. 151. CEASE-AND-DESIST PROCEEDINGS.
    SEC. 152. TEMPORARY CEASE-AND-DESIST PROCEEDINGS.
    SEC. 153. REMOVAL AND PROHIBITION AUTHORITY.
    `SEC. 1377. REMOVAL AND PROHIBITION AUTHORITY.
    SEC. 154. ENFORCEMENT AND JURISDICTION.
    SEC. 155. CIVIL MONEY PENALTIES.
    SEC. 156. CRIMINAL PENALTY.
    `SEC. 1378. CRIMINAL PENALTY.
    SEC. 157. NOTICE AFTER SEPARATION FROM SERVICE.
 Subtitle E--Other Reporting Regarding Regulated Entities
    SEC. 161. REPORTING REGARDING REGULATED ENTITIES.
    `SEC. 1351. REPORTS REGARDING ISSUES AND ACTIVITIES OF REGULATED ENTITIES.
 Subtitle F--General Provisions
    SEC. 171. CONFORMING AND TECHNICAL AMENDMENTS.
    SEC. 172. PRESIDENTIALLY APPOINTED DIRECTORS OF ENTERPRISES.
    SEC. 173. EFFECTIVE DATE.
 TITLE II--FEDERAL HOME LOAN BANKS
    SEC. 201. DIRECTORS.
    SEC. 202. DEFINITIONS.
    SEC. 203. AGENCY OVERSIGHT OF FEDERAL HOME LOAN BANKS.
    SEC. 204. DEBT ISSUING FACILITY.
    `SEC. 11A. FEDERAL HOME LOAN BANK FINANCE CORPORATION.
    SEC. 205. EXCLUSION FROM CERTAIN SECURITIES REPORTING REQUIREMENTS.
    SEC. 206. LIMITATION ON GOLDEN PARACHUTES.
 TITLE III--TRANSFER OF FUNCTIONS, PERSONNEL, AND PROPERTY OF OFHEO AND THE FEDERAL HOUSING FINANCE BOARD
 Subtitle A--OFHEO
    SEC. 301. ABOLISHMENT OF OFHEO.
    SEC. 302. CONTINUATION AND COORDINATION OF CERTAIN REGULATIONS.
    SEC. 303. TRANSFER AND RIGHTS OF EMPLOYEES OF OFHEO.
    SEC. 304. TRANSFER OF PROPERTY AND FACILITIES.
 Subtitle B--Federal Housing Finance Board
    SEC. 311. ABOLISHMENT OF THE FEDERAL HOUSING FINANCE BOARD.
    SEC. 312. CONTINUATION AND COORDINATION OF CERTAIN REGULATIONS.
    SEC. 313. TRANSFER AND RIGHTS OF EMPLOYEES OF THE FEDERAL HOUSING FINANCE BOARD.
    SEC. 314. TRANSFER OF PROPERTY AND FACILITIES.
 TITLE IV--MISCELLANEOUS PROVISIONS
    SEC. 401. STUDY AND REPORT ON BASEL II AND ENTERPRISE DEBT.
    SEC. 402. AFFORDABLE HOUSING REPORTING.
 
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