12 U.S.C. § 4564 | Discretionary adjustment of housing goals

(a)

Authority

An enterprise may petition the Director in writing at any time during a year to reduce the level of any goal or subgoal for such year established pursuant to this subpart.

(b)

Standard for reduction

The Director may reduce the level for a goal or subgoal pursuant to such a petition only if—

(1)

market and economic conditions or the financial condition of the enterprise require such action; or

(2)

section 1716(3) of this title 12 U.S.C. 1451 efforts to meet the goal or subgoal would result in the constraint of liquidity, over-investment in certain market segments, or other consequences contrary to the intent of this subpart, or or section 301(b)(3) of the Federal Home Loan Mortgage Corporation Act ( note), as applicable.

(c)

Determination

The Director shall, promptly upon receipt of a petition regarding a reduction, seek public comment on the reduction for a period of 30 days. The Director shall make a determination regarding any proposed reduction within 30 days after the expiration of such public comment period. The Director may extend such determination period for a single additional 15-day period, but only if the Director requests additional information from the enterprise.

Pub. L. 102–550, title XIII, § 1334 Pub. L. 110–289, div. A, title I, § 1128(b)July 30, 2008122 Stat. 2701(, as added , , .)

Editorial Notes

References in Text

section 301(b)(3) of Pub. L. 91–351 section 1451 of this titleSection 301(b)(3) of the Federal Home Loan Mortgage Corporation Act, referred to in subsec. (b)(2), is , which is set out as a Short Title and Statement of Purpose note under .

Prior Provisions

Pub. L. 102–550, title XIII, § 1334Oct. 28, 1992106 Stat. 3960 Pub. L. 110–289, div. A, title I, § 1128(a)July 30, 2008122 Stat. 2696A prior section 4564, , , , related to central cities, rural areas, and other underserved areas housing goal, prior to repeal by , , .