12 U.S.C. § 1430c - U.S. Code - Unannotated Title 12. Banks and Banking § 1430c. Housing goals

(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 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.