
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC4521]

 
                       TITLE 12--BANKS AND BANKING
 
              CHAPTER 46--GOVERNMENT SPONSORED ENTERPRISES
 
         SUBCHAPTER I--SUPERVISION AND REGULATION OF ENTERPRISES
 
            Part A--Financial Safety and Soundness Regulator
 
Sec. 4521. Annual reports by Director


(a) General report

    The Director shall submit to the Committee on Banking, Finance and 
Urban Affairs of the House of Representatives and the Committee on 
Banking, Housing, and Urban Affairs of the Senate, not later than June 
15 of each year, a written report, which shall include--
        (1) a description of the actions taken, and being undertaken, by 
    the Director to carry out this chapter;
        (2) a description of the financial safety and soundness of each 
    enterprise, including the results and conclusions of the annual 
    examinations of the enterprises conducted under section 4517(a) of 
    this title;
        (3) any recommendations for legislation to enhance the financial 
    safety and soundness of the enterprises; and
        (4) a description of--
            (A) whether the procedures established by each enterprise 
        pursuant to section 4012a(b)(3) of title 42 are adequate and 
        being complied with, and
            (B) the results and conclusions of any examination, as 
        determined necessary by the Director, to determine the 
        compliance of the enterprises with the requirements of section 
        4012a(b)(3) of title 42, which shall include a description of 
        the methods used to determine compliance and the types and 
        sources of deficiencies (if any), and identify any corrective 
        measures that have been taken to remedy any such deficiencies,

    except that the information described in this paragraph shall be 
    included only in each of the first, third, and fifth annual reports 
    under this subsection required to be submitted after the expiration 
    of the 1-year period beginning on September 23, 1994.

(b) Report on enforcement actions

    Not later than March 15 of each year, the Director shall submit to 
the Committee on Banking, Finance and Urban Affairs of the House of 
Representatives and the Committee on Banking, Housing, and Urban Affairs 
of the Senate a written report describing, for the preceding calendar 
year, the requests by the Director to the Attorney General for 
enforcement actions under subchapter III of this chapter and describing 
the disposition of each request, which shall include statements of--
        (1) the total number of requests made by the Director;
        (2) the number of requests that resulted in the commencement of 
    litigation by the Department of Justice;
        (3) the number of requests that did not result in the 
    commencement of litigation by the Department of Justice;
        (4) with respect to requests that resulted in the commencement 
    of litigation--
            (A) the number of days between the date of the request and 
        the commencement of the litigation; and
            (B) the number of days between the date of the commencement 
        and termination of the litigation; and

        (5) the number of litigation requests pending at the beginning 
    of the calendar year, the number of requests made during the 
    calendar year, the number of requests for which action was completed 
    during the calendar year, and the number of requests pending at the 
    end of the calendar year.

(Pub. L. 102-550, title XIII, Sec. 1319B, Oct. 28, 1992, 106 Stat. 3950; 
Pub. L. 103-325, title V, Sec. 529(c), Sept. 23, 1994, 108 Stat. 2267.)

                       References in Text

    This chapter, referred to in subsec. (a)(1), was in the original 
``this title'', meaning title XIII of Pub. L. 102-550, Oct. 28, 1992, 
106 Stat. 3941, which is classified principally to this chapter. For 
complete classification of title XIII to the Code, see Short Title note 
set out under section 4501 of this title and Tables.


                               Amendments

    1994--Subsec. (a)(4). Pub. L. 103-325 added par. (4).

                         Change of Name

    Committee on Banking, Finance and Urban Affairs of House of 
Representatives treated as referring to Committee on Banking and 
Financial Services of House of Representatives by section 1(a) of Pub. 
L. 104-14, set out as a note preceding section 21 of Title 2, The 
Congress. Committee on Banking and Financial Services of House of 
Representatives abolished and replaced by Committee on Financial 
Services of House of Representatives, and jurisdiction over matters 
relating to securities and exchanges and insurance generally transferred 
from Committee on Energy and Commerce of House of Representatives by 
House Resolution No. 5, One Hundred Seventh Congress, Jan. 3, 2001.
