12 2 STA T . 2 79 2 PUBLIC LA W 11 0– 2 8 9 —J UL Y3 0 , 2008 (2)thepo te n t ial i m pa c to fs ec ur iti z ation upon li q ui d it y in the mort g age and b roader credit mar k ets
( 3 ) the ability of the F ederal H ome L oan B ank or Banks in question to manage the risks associated w ith such a program; ( 4 ) the impact of such a program on the e x isting acti v ities of the Banks , including their mortgage portfolios and advances; and ( 5 ) the j oint and several liability of the Banks and the cooperative structure of the Federal Home Loan Bank S ystem . (c) CONSULTA T I ONS. —I n conducting the study under this sec - tion, the D irector shall consult with the Federal Home Loan Banks, the Banks ’ fiscal agent, representatives of the mortgage lending industry, practitioners in the structured finance field, and other experts as needed. (d) REP O R T.— N ot later than 1 year after the date of enactment of this A ct, the Director shall submit a report to Congress on the results of the study conducted under subsection (a), including policy recommendations based on the analysis of the Director of the feasibility of mortgage-backed securities issuance by a Federal Home Loan Bank or Banks and the risks and benefits associated with such program or programs. (e) DE F INITIONS.—As used in this section, the terms ‘ ‘member’’, ‘‘Bank’’, and ‘‘Federal Home Loan Bank’’ have the same meanings as in section 2 of the Federal Home Loan Bank Act (12 U .S.C. 1422). SEC.12 1 6 . T EC HNI C AL AN D C O N F O RM IN G AMENDMENTS. (a) RI GH T TO FINAN C IAL P RI V AC Y ACTOF1 978 .—Section 1113(o) of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3413(o)) is amended— (1) by striking ‘‘Federal Housing Finance Board’’ and inserting ‘‘Federal Housing Finance Agency’’; and (2) by striking ‘‘Federal Housing Finance Board’s’’ and inserting ‘‘Federal Housing Finance Agency’s’’. (b) RIEGLE CO M MUNITY DEVELOPMENT AN D REGULATORY IMPROVEMENT ACT OF 1994.—Section 117(e) of the Riegle Commu- nity Development and Regulatory Improvement Act of 1994 (12 U.S.C. 471 6 (e)) is amended by striking ‘‘Federal Housing Finance Board’’ and inserting ‘‘Federal Housing Finance Agency’’. (c) T ITLE 18, UNITED STATES CODE.—Title 18, United States Code, is amended by striking ‘‘Federal Housing Finance Board’’ each place such term appears in each of sections 212, 657, 1 0 06, and 1014, and inserting ‘‘Federal Housing Finance Agency’’. (d) M AHRA ACT OF 1997.—Section 517(b)(4) of the Multifamily Assisted Housing Reform and Affordability Act of 1997 (42 U.S.C. 1437f note) is amended by striking ‘‘Federal Housing Finance Board’’ and inserting ‘‘Federal Housing Finance Agency’’. (e) TITLE 44, UNITED STATES CODE.—Section 3502(5) of title 44, United States Code, is amended by striking ‘‘Federal Housing Finance Board’’ and inserting ‘‘Federal Housing Finance Agency’’. (f) ACCESS TO LOCAL T V ACT OF 2000.—Section 1004(d)(2)(D)(iii) of the Launching O ur Communities’ Access to Local Television Act of 2000 (47 U.S.C. 1103(d)(2)(D)(iii)) is amended by striking ‘‘Office of Federal Housing E nterprise Oversight, the Federal Housing Finance Board’’ and inserting ‘‘Federal Housing Finance Agency’’.
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