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12 U.S.C. § 4516 — Authority to require reports by regulated entities

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4516 — Authority to require reports by regulated entities

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Stable record: federal_law:legal_authorities:record_usc_337ca3f2c0065ddfb7e3ce4e
Source file: Laws/federal/codes/united-states-code/title-12/section-4516-authority-to-require-reports-by-regulated-entities--b9ecde4cf5.md
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Source location: Title 12, Chapter 46, § 4516; chapter-046-government-sponsored-enterprises.md

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**(a) Regular and special reports** (1) **Regular reports** — The Director may require, by general or specific orders, a regulated entity to submit regular reports, including financial statements determined on a fair value basis, on the condition (including financial condition), management, activities, or operations of the regulated entity, as the Director considers appropriate (in addition to the annual and quarterly reports required under [section 1723a(k) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1723a/k&num=0&edition=prelim) and [section 1456(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1456/c&num=0&edition=prelim)). (2) **Special reports** — The Director may also require, by general or specific orders, a regulated entity to submit special reports on any of the topics specified in paragraph (1) or any other relevant topics, if, in the judgment of the Director, such reports are necessary to carry out the purposes of this chapter. (3) **Limitation** — The Director may not require the inclusion, in any report pursuant to paragraph (1) or (2), of any information that is not reasonably obtainable by the regulated entity. (4) **Notice and declaration** — The Director shall notify the regulated entity, a reasonable period in advance of the date for submission of any report under this subsection, of any specific information to be contained in the report and the date for the submission of the report. Each report under this subsection shall contain a declaration by the president, vice president, treasurer, or any other officer designated by the board of directors of the regulated entity to make such declaration, that the report is true and correct to the best of such officer’s knowledge and belief. **(b) Capital distributions** The Director may require a regulated entity to submit a report to the Director after the declaration of any capital distribution by the regulated entity and before making the capital distribution. The report shall be made in such form and under such circumstances and shall contain such information as the Director shall require. **(c) Penalties for failure to make reports** (1) **Violations** — It shall be a violation of this section for any regulated entity— (A) to fail to make, transmit, or publish any report or obtain any information required by the Director under this section, [section 1723a(k) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1723a/k&num=0&edition=prelim), [section 1456(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1456/c&num=0&edition=prelim), or [section 1440 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1440&num=0&edition=prelim), within the period of time specified in such provision of law or otherwise by the Director; or (B) to submit or publish any false or misleading report or information under this section. (2) **Penalties** (A) *First tier* (i) *In general* — A violation described in paragraph (1) shall be subject to a penalty of not more than $2,000 for each day during which such violation continues, in any case in which— (I) the subject regulated entity maintains procedures reasonably adapted to avoid any inadvertent error and the violation was unintentional and a result of such an error; or (II) the violation was an inadvertent transmittal or publication of any report which was minimally late. (ii) *Burden of proof* — For purposes of this subparagraph, the regulated entity shall have the burden of proving that the error was inadvertent or that a report was inadvertently transmitted or published late. (B) *Second tier* — A violation described in paragraph (1) shall be subject to a penalty of not more than $20,000 for each day during which such violation continues or such false or misleading information is not corrected, in any case that is not addressed in subparagraph (A) or (C). (C) *Third tier* — A violation described in paragraph (1) shall be subject to a penalty of not more than $1,000,000 per day for each day during which such violation continues or such false or misleading information is not corrected, in any case in which the subject regulated entity committed such violation knowingly or with reckless disregard for the accuracy of any such information or report. (3) **Assessments** — Any penalty imposed under this subsection shall be in lieu of a penalty under [section 4636 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4636&num=0&edition=prelim), but shall be assessed and collected by the Director in the manner provided in [section 4636 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4636&num=0&edition=prelim) for penalties imposed under that section, and any such assessment (including the determination of the amount of the penalty) shall be otherwise subject to the provisions of [section 4636 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4636&num=0&edition=prelim). (4) **Hearing** — A regulated entity against which a penalty is assessed under this section shall be afforded an agency hearing if the regulated entity submits a request for a hearing not later than 20 days after the date of the issuance of the notice of assessment. [Section 4634 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4634&num=0&edition=prelim) shall apply to any such proceedings.

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4634 — Cease-and-desist proceedings

**(a) Issuance for unsafe or unsound practices and violations** (1) **Authority of Director** — If, in the opinion of the Director, a regulated entity or any entity-affiliated party is engaging or has engaged, or the Director has reasonable cause to believe that the regulated entity or any entity-affiliated party is about to engage, in an unsafe or unsound practice in conducting the business of the regulated entity or the Office of Finance, or is violating or has violated, or the Director has reasonable cause to believe is about to violate, a law, rule, regulation, or order, or any condition imposed in writing by the Director in connection with the granting of any application or other request by the regulated entity or the Office of Finance or any written agreement entered into with the Director, the Director may issue and serve upon the regulated entity or entity-affiliated party a notice of charges in respect thereof. (2) **Limitation** — The Director may not, pursuant to this section, enforce compliance with any housing goal established under subpart 2 of part B of subchapter I of this chapter, with section 4566 or 4567 of this title, with subsection (m) or (n) of [section 1723a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1723a&num=0&edition=prelim), with subsection (e) or (f) of [section 1456 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1456&num=0&edition=prelim), or with paragraph (5) of [section 1430(j) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1430/j&num=0&edition=prelim). **(b) Issuance for unsatisfactory rating** If a regulated entity receives, in its most recent report of examination, a less-than-satisfactory rating f

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4634

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4501 — Notice of service

Any service required or authorized to be made by the Director under this subchapter may be made by registered mail, or in such other manner reasonably calculated to give actual notice as the Director may by regulation or otherwise provide.

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4501

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1440 — Examinations and audits

The Director shall from time to time, at least annually, require examinations and reports of condition of all Federal Home Loan Banks in such form as the Director shall prescribe and shall furnish periodically statements based upon the reports of the banks to the Director. For the purposes of this chapter, examiners appointed by the Director shall be subject to the same requirements, responsibilities, and penalties as are applicable to examiners under the National Bank Act [[12 U.S.C. 21](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section21&num=0&edition=prelim) et seq.] and the Federal Reserve Act [[12 U.S.C. 221](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section221&num=0&edition=prelim) et seq.], and shall have, in the exercise of functions under this chapter, the same powers and privileges as are vested in such examiners by law. In addition to such examinations, the Comptroller General may audit or examine the Director and the Banks, to determine the extent to which the Director and the Banks are fairly and effectively fulfilling the purposes of this chapter.

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1440

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4636 — Hearings

**(a) Requirements** (1) **Venue and record** — Any hearing under section 4631, 4636(c), or 4636a of this title shall be held on the record and in the District of Columbia. (2) **Timing** — Any such hearing shall be fixed for a date not earlier than 30 days nor later than 60 days after service of the notice of charges under section 4631 or 4636a of this title or determination to impose a penalty under [section 4636 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4636&num=0&edition=prelim), unless an earlier or a later date is set by the hearing officer at the request of the party served. (3) **Procedure** — Any such hearing shall be conducted in accordance with chapter 5 of title 5. (4) **Failure to appear** — If the party served fails to appear at the hearing through a duly authorized representative, such party shall be deemed to have consented to the issuance of the cease-and-desist or removal or prohibition order or the imposition of the penalty for which the hearing is held. **(b) Issuance of order** (1) **In general** — After any such hearing, and within 90 days after the parties have been notified that the case has been submitted to the Director for final decision, the Director shall render the decision (which shall include findings of fact upon which the decision is predicated) and shall issue and serve upon each party to the proceeding an order or orders consistent with the provisions of this subchapter. (2) **Modification** — Judicial review of any such order shall be exclusively as provided in [section 4634 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4634&num=0&edition=prelim). Unless such a petition for review is timely filed as provided in [section 4634 of this t

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4636

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1455 — Obligations and securities of the Corporation

**(a) Authority to issue; terms and conditions; validity** The Corporation is authorized, upon such terms and conditions as it may prescribe, to borrow, to give security, to pay interest or other return, and to issue notes, debentures, bonds, or other obligations, or other securities, including without limitation mortgage-backed securities guaranteed by the Government National Mortgage Association in the manner provided in [section 1721(g) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1721/g&num=0&edition=prelim). Any obligation or security of the Corporation shall be valid and binding notwithstanding that a person or persons purporting to have executed or attested the same may have died, become under disability, or ceased to hold office or employment before the issuance thereof. **(b) Prohibitions and restrictions; creation of liens and charges; rank and priority; causes of action to enforce; jurisdiction; service of process** The Corporation may, by regulation or by writing executed by the Corporation, establish prohibitions or restrictions upon the creation of indebtedness or obligations of the Corporation or of liens or charges upon property of the Corporation, including after-acquired property, and create liens and charges, which may be floating liens or charges, upon all or any part or parts of the property of the Corporation, including after-acquired property. Such prohibitions, restrictions, liens, and charges shall have such effect, including without limitation on the generality of the foregoing such rank and priority, as may be provided by regulations of the Corporation or by writings executed by the Corporation, and shall create causes of action which may be enforced by action in the United States District Court f

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1455

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1747b — Secondary market operations

**(a) Purchase and sale of mortgages; secondary market operations; advance of funds or origination of loans; settlement or extinguishment of borrower’s rights** (1) To carry out the purposes set forth in paragraph (a) 11 See References in Text note below. of [section 1716 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1716&num=0&edition=prelim), the operations of the corporation under this section shall be confined, so far as practicable, to mortgages which are deemed by the corporation to be of such quality, type, and class as to meet, generally, the purchase standards imposed by private institutional mortgage investors. In the interest of assuring sound operation, the prices to be paid by the corporation for mortgages purchased in its secondary market operations under this section, should be established, from time to time, within the range of market prices for the particular class of mortgages involved, as determined by the corporation. The volume of the corporation’s purchases and sales, and the establishment of the purchase prices, sale prices, and charges or fees, in its secondary market operations under this section, should be determined by the corporation from time to time, and such determinations should be consistent with the objectives that such purchases and sales should be effected only at such prices and on such terms as will reasonably prevent excessive use of the corporation’s facilities, and that the operations of the corporation under this section should be within its income derived from such operations and that such operations should be fully self-supporting. Nothing in this subchapter shall prohibit the corporation from purchasing, and making commitments to purchase, any mortgage with respect to which the Se

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1747b

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4516 — Funding

Page 1653 TITLE 12—BANKS AND BANKING § 4516 1 So in original. Probably should be ‘‘bear’’. ‘‘(2) such recommendations for administrative and legislative action as the Director determines appro- priate to carry out such programs.’’ Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111–203 effective on the trans- fer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress. § 4516. Funding (a) Annual assessments The Director shall establish and collect from the regulated entities annual assessments in an amount not exceeding the amount sufficient to provide for reasonable costs (including adminis- trative costs) and expenses of the Agency, in- cluding— (1) the expenses of any examinations under section 4517 of this title and under section 1440 of this title; (2) the expenses of obtaining any reviews and credit assessments under section 4519 of this title; (3) such amounts in excess of actual ex- penses for any given year as deemed necessary by the Director to maintain a working capital fund in accordance with subsection (e); and (4) the windup of the affairs of the Office of Federal Housing Enterprise Oversight and the Federal Housing Finance Board under title III of the Federal Housing Finance Regulatory Reform Act of 2008. (b) Allocation of annual assessment to enter- prises (1) Amount of payment Each enterprise shall pay to the Director a proportion of the annual assessment made pursuant to subsection (a) that bears the same ratio to the total annual assessment that the total assets of each enterprise bears 1 to the total assets of both enterprises. (2) Separate treatment of Federal home loan bank and enterprise assessments Assessments collected

Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 4516

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