278 
rivatives, project development, or organiza-
tional management, or such other knowl-
edge or expertise as the Director may pro-
vide by regulation. 
‘‘(ii) PUBLIC
INTEREST.—Not fewer 
than 2 of the independent directors shall 
have more than 4 years of experience in 
representing consumer or community inter-
ests on banking services, credit needs, 
housing, or financial consumer protections. 
‘‘(iii) CONFLICTS OF INTEREST.—No 
independent director may, during the term 
of service on the board of directors, serve 
as an officer of any Federal Home Loan 
Bank or as a director, officer, or employee 
of any member of a Bank, or of any person 
that receives advances from a Bank. 
‘‘(4) DEFINITIONS.—For purposes of this sec-
tion, the following definitions shall apply: 
‘‘(A) 
INDEPENDENT
DIRECTOR.—The 
terms ‘independent director’ and ‘independent 
directorship’ mean a member of the board of di-
rectors of a Federal Home Loan Bank who is 
a bona fide resident of the district in which the 
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Federal Home Loan Bank is located, or the di-
rectorship held by such a person, respectively. 
‘‘(B) MEMBER
DIRECTOR.—The terms 
‘member director’ and ‘member directorship’ 
mean a member of the board of directors of a 
Federal Home Loan Bank who is an officer or 
director of a member institution that is located 
in the district in which the Federal Home Loan 
Bank is located, or the directorship held by 
such a person, respectively.’’; 
(2) by striking ‘‘elective’’ each place that term 
appears, other than in subsections (d), (e), and (f), 
and inserting ‘‘member’’; 
(3) in subsection (b)— 
(A) by striking the subsection heading and 
all that follows through ‘‘Each elective director-
ship’’ and inserting the following: 
‘‘(b) DIRECTORSHIPS.— 
‘‘(1) MEMBER DIRECTORSHIPS.—Each member 
directorship’’; and 
(B) by adding at the end the following: 
‘‘(2) INDEPENDENT DIRECTORSHIPS.— 
‘‘(A) ELECTIONS.—Each independent di-
rector— 
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‘‘(i) shall be elected by the members 
entitled to vote, from among eligible per-
sons nominated, after consultation with the 
Advisory Council of the Bank, by the 
board of directors of the Bank; and 
‘‘(ii) shall be elected by a plurality of 
the votes of the members of the Bank at 
large, with each member having the num-
ber of votes for each such directorship as 
it has under paragraph (1) in an election 
to fill member directorships. 
‘‘(B) CRITERIA.—Nominees shall meet all 
applicable requirements prescribed in this sec-
tion. 
‘‘(C) NOMINATION AND ELECTION PROCE-
DURES.—Procedures for nomination and elec-
tion of independent directors shall be prescribed 
by the bylaws of each Federal Home Loan 
Bank, in a manner consistent with the rules 
and regulations of the Agency.’’; 
(4) in subsection (c)— 
(A) by striking ‘‘elective’’ each place that 
term appears and inserting ‘‘member’’, ex-
cept— 
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(i) in the second sentence, the second 
place that term appears; and 
(ii) each place that term appears in 
the fifth sentence; and 
(B) in the second sentence— 
(i) by inserting ‘‘(A) except as pro-
vided in clause (B) of this sentence,’’ be-
fore ‘‘if at any time’’; and 
(ii) by inserting before the period at 
the end the following: ‘‘, and (B) clause 
(A) of this sentence shall not apply to the 
directorships of any Federal Home Loan 
Bank resulting from the merger of any 2 
or more such Banks’’; 
(5) in subsection (d)— 
(A) in the first sentence— 
(i) by striking ‘‘, whether elected or 
appointed,’’; and 
(ii) by striking ‘‘3 years’’ and insert-
ing ‘‘4 years’’; 
(B) in the second sentence— 
(i) by striking ‘‘Federal Home Loan 
Bank System Modernization Act of 1999’’ 
and inserting ‘‘Federal Housing Finance 
Regulatory Reform Act of 2008’’; 
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(ii) by striking ‘‘1⁄3’’ and inserting 
‘‘1⁄4’’; and 
(iii) by striking ‘‘or appointed’’; and 
(C) in the third sentence— 
(i) by striking ‘‘an elective’’ each place 
that term appears and inserting ‘‘a’’; and 
(ii) by striking ‘‘in any elective direc-
torship or elective directorships’’; 
(6) in subsection (f)— 
(A) by striking paragraph (2); 
(B) by striking ‘‘appointed or’’ each place 
that term appears; and 
(C) in paragraph (3)— 
(i) by striking ‘‘(3) ELECTED BANK 
DIRECTORS.—’’ and inserting ‘‘(2) ELEC-
TION PROCESS.—’’; and 
(ii) by striking ‘‘elective’’ each place 
that term appears; 
(7) in subsection (i)— 
(A) in paragraph (1), by striking ‘‘Subject 
to paragraph (2), each’’ and inserting ‘‘Each’’; 
and 
(B) by striking paragraph (2) and insert-
ing the following: 
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‘‘(2) ANNUAL REPORT.—The Director shall in-
clude, in the annual report submitted to the Con-
gress pursuant to section 1319B of the Federal 
Housing Enterprises Financial Safety and Sound-
ness Act of 1992, information regarding the com-
pensation and expenses paid by the Federal Home 
Loan Banks to the directors on the boards of direc-
tors of the Banks.’’; and 
(8) by adding at the end the following: 
‘‘(l) TRANSITION RULE.—Any member of the board 
of directors of a Bank elected or appointed in accordance 
with this section prior to the date of enactment of this 
subsection may continue to serve as a member of that 
board of directors for the remainder of the existing term 
of service.’’. 
SEC. 203. DEFINITIONS. 
Section 2 of the Federal Home Loan Bank Act (12 
U.S.C. 1422) is amended— 
(1) by striking paragraphs (1), (10), and (11); 
(2) by redesignating paragraphs (2) through 
(9) as paragraphs (1) through (8), respectively; 
(3) by redesignating paragraphs (12) and (13) 
as paragraphs (9) and (10), respectively; and 
(4) by adding at the end the following: 
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‘‘(11) DIRECTOR.—The term ‘Director’ means 
the Director of the Federal Housing Finance Agen-
cy. 
‘‘(12) AGENCY.—The term ‘Agency’ means the 
Federal Housing Finance Agency, established under 
section 1311 of the Federal Housing Enterprises Fi-
nancial Safety and Soundness Act of 1992.’’. 
SEC. 204. AGENCY OVERSIGHT OF FEDERAL HOME LOAN 
BANKS. 
The Federal Home Loan Bank Act (12 U.S.C. 1421 
et seq.), other than in provisions of that Act added or 
amended otherwise by this Act, is amended— 
(1) by striking sections 2A and 2B (12 U.S.C. 
1422a, 1422b); 
(2) by striking section 18 (12 U.S.C. 1438) and 
inserting the following: 
‘‘SEC. 18. ADMINISTRATIVE PROVISIONS. 
‘‘(a) ACQUISITION AUTHORITY.—The Director of the 
Office of Thrift Supervision, utilizing the services of the 
Administrator of General Services (hereinafter referred to 
as the ‘Administrator’), and subject to any limitation here-
on which may hereafter be imposed in appropriation Acts, 
is hereby authorized— 
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285 
‘‘(1) to acquire, in the name of the United 
States, real property in the District of Columbia, for 
the purposes set forth in this section; 
‘‘(2) to construct, develop, furnish, and equip 
such buildings thereon and such facilities as in its 
judgment may be appropriate to provide, to such ex-
tent as the Director of the Office of Thrift Super-
vision may deem advisable, suitable and adequate 
quarters and facilities for the Director of the Office 
of Thrift Supervision and the agencies under its ad-
ministration or supervision; 
‘‘(3) to enlarge, remodel, or reconstruct any of 
the same; and 
‘‘(4) to make or enter into contracts for any of 
the foregoing. 
‘‘(b) ADVANCES.—The Director of the Office of 
Thrift Supervision may require of the respective banks, 
and they shall make to the Director of the Office of Thrift 
Supervision, such advances of funds for the purposes set 
out in subsection (a) as in the sole judgment of the Direc-
tor of the Office of Thrift Supervision may from time to 
time be advisable. Such advances shall be apportioned by 
the Director of the Office of Thrift Supervision among the 
banks in proportion to the total assets of the respective 
banks, determined in such manner and as of such times 
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286 
as the Director of the Office of Thrift Supervision may 
prescribe. Each such advance shall bear interest at the 
rate of 41⁄2 per centum per annum from the date of the 
advance and shall be repaid by the Director of the Office 
of Thrift Supervision in such installments and over such 
period, not longer than twenty-five years from the making 
of the advance, as the Director of the Office of Thrift Su-
pervision may determine. Payments of interest and prin-
cipal upon such advances shall be made from receipts of 
the Director of the Office of Thrift Supervision or from 
other sources which may from time to time be available 
to the Director of the Office of Thrift Supervision. The 
obligation of the Director of the Office of Thrift Super-
vision to make any such payment shall not be regarded 
as an obligation of the United States. To such extent as 
the Director of the Office of Thrift Supervision may pre-
scribe any such obligation shall be regarded as a legal in-
vestment for the purposes of subsections (g) and (h) of 
section 11 and for the purposes of section 16. 
‘‘(c) PLANS AND DESIGNS.—The plans and designs 
for such buildings and facilities and for any such enlarge-
ment, remodeling, or reconstruction shall, to such extent 
as the chairperson of the Director of the Office of Thrift 
Supervision may request, be subject to the approval of the 
Director. 
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287 
‘‘(d) CUSTODY, MANAGEMENT
AND
CONTROL.— 
Upon the making of arrangements mutually agreeable to 
the Director of the Office of Thrift Supervision and the 
Administrator, which arrangements may be modified from 
time to time by mutual agreement between them and may 
include but shall not be limited to the making of payments 
by the Director of the Office of Thrift Supervision and 
such agencies to the Administrator and by the Adminis-
trator to the Director of the Office of Thrift Supervision, 
the custody, management, and control of such buildings 
and facilities and of such real property shall be vested in 
the Administrator in accordance therewith. Until the mak-
ing of such arrangements, such custody, management, and 
control, including the assignment and allotment and the 
reassignment and reallotment of building and other space, 
shall be vested in the Director of the Office of Thrift Su-
pervision. 
‘‘(e) PROCEEDS.—Any proceeds (including advances) 
received by the Director of the Office of Thrift Supervision 
in connection with this subsection, and any proceeds from 
the sale or other disposition of real or other property ac-
quired by the Director of the Office of Thrift Supervision 
under this section, shall be considered as receipts of the 
Director of the Office of Thrift Supervision, and obliga-
tions and expenditures of the Director of the Office of 
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288 
Thrift Supervision and such agencies in connection with 
this section shall not be considered as administrative ex-
penses. As used in this section, the term ‘property’ shall 
include interests in property. 
‘‘(f) BUDGET PROGRAM.— 
‘‘(1) IN GENERAL.—With respect to its func-
tions under this section, the Director of the Office 
of Thrift Supervision shall— 
‘‘(A) annually prepare and submit a budg-
et program as provided in title I of the Govern-
ment Corporation Control Act with regard to 
wholly owned Government corporations, and for 
purposes of this paragraph, the terms ‘wholly 
owned Government corporations’ and ‘Govern-
ment corporations’, wherever used in such title, 
shall include the Director of the Office of Thrift 
Supervision; and 
‘‘(B) maintain an integral set of accounts 
which shall be audited by the General Account-
ing Office in accordance with the principles and 
procedures applicable to commercial corporate 
transactions, as provided in such title, and no 
other settlement or adjustment shall be re-
quired with respect to transactions under this 
section or with respect to claims, demands, or 
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289 
accounts by or against any person arising there-
under. 
‘‘(2) MISCELLANEOUS PROVISIONS.—The first 
budget program shall be for the first full fiscal year 
beginning on or after the date of enactment of this 
subsection. Except as otherwise provided in this sec-
tion or by the Director of the Office of Thrift Super-
vision, the provisions of this section and the func-
tions thereby or thereunder subsisting shall be appli-
cable and exercisable notwithstanding and without 
regard to the Act of June 20, 1938 (D.C. Code, 
secs. 5–413—5–428), except that the proviso of sec-
tion 16 thereof shall apply to any building con-
structed under this section, and section 306 of the 
Act of July 30, 1947 (61 Stat. 584), or any other 
provision of law relating to the construction, alter-
ation, repair, or furnishing of public or other build-
ings or structures or the obtaining of sites therefor, 
but any person or body in whom any such function 
is vested may provide for delegation or redelegation 
of the exercise of such function. 
‘‘(g) LIMITATION.—No obligation shall be incurred 
and no expenditure, except in liquidation of obligation, 
shall be made pursuant to paragraphs (1) and (2) of sub-
section (a), if the total amount of all obligations incurred 
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290 
pursuant thereto would thereupon exceed $13,200,000, or 
such greater amount as may be provided in an appropria-
tions Act or other law.’’. 
(3) in section 11 (12 U.S.C. 1431)— 
(A) in subsection (b)— 
(i) in the first sentence— 
(I) by striking ‘‘The Board’’ and 
inserting ‘‘The Office of Finance, as 
agent for the Banks,’’; and 
(II) by striking ‘‘the Board’’ and 
inserting ‘‘such Office’’; and 
(ii) in the second and fourth sen-
tences, by striking ‘‘the Board’’ each place 
such term appears and inserting ‘‘the Of-
fice of Finance’’; 
(B) in subsection (c)— 
(i) by striking ‘‘the Board’’ the first 
place such term appears and inserting ‘‘the 
Office of Finance, as agent for the 
Banks,’’; and 
(ii) by striking ‘‘the Board’’ the sec-
ond place such term appears and inserting 
‘‘such Office’’; and 
(C) in subsection (f)— 
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291 
(i) by striking the 2 commas after 
‘‘permit’’ and inserting ‘‘or’’; and 
(ii) by striking the comma after ‘‘re-
quire’’; 
(4) in section 6 (12 U.S.C. 1426)— 
(A) in subsection (b)(1), in the matter pre-
ceding subparagraph (A), by striking ‘‘Finance 
Board approval’’ and inserting ‘‘approval by the 
Director’’; and 
(B) in each of subsections (c)(4)(B) and 
(d)(2), by striking ‘‘Finance Board regulations’’ 
each place that term appears and inserting 
‘‘regulations of the Director’’; 
(5) in section 10(b) (12 U.S.C. 1430(b))— 
(A) in the subsection heading, by striking 
‘‘FORMAL BOARD RESOLUTION’’ and inserting 
‘‘APPROVAL OF DIRECTOR’’; and 
(B) by striking ‘‘by formal resolution’’; 
(6) in section 21(b)(5) (12 U.S.C. 1441(b)(5)), 
by striking ‘‘Chairperson of the Federal Housing Fi-
nance Board’’ and inserting ‘‘Director’’; 
(7) in section 15 (12 U.S.C. 1435), by inserting 
‘‘or the Director’’ after ‘‘the Board’’; 
(8) by striking ‘‘the Board’’ each place that 
term appears and inserting ‘‘the Director’’; 
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292 
(9) by striking ‘‘The Board’’ each place that 
term appears and inserting ‘‘The Director’’; 
(10) by striking ‘‘the Finance Board’’ each 
place that term appears and inserting ‘‘the Direc-
tor’’; 
(11) by striking ‘‘The Finance Board’’ each 
place that term appears and inserting ‘‘The Direc-
tor’’; and 
(12) by striking ‘‘Federal Housing Finance 
Board’’ each place that term appears and inserting 
‘‘Director’’. 
SEC. 205. HOUSING GOALS. 
The Federal Home Loan Bank Act (12 U.S.C. 1421 
et seq.) is amended by inserting after section 10b the fol-
lowing new section: 
‘‘SEC. 10C. 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 
1331 through 1334 of the Federal Housing Enterprises 
Financial Safety and Soundness Act of 1992. 
‘‘(b) CONSIDERATIONS.—In establishing the goals re-
quired by subsection (a), the Director shall consider the 
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293 
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 the date of enactment of this section. 
‘‘(d) MONITORING AND ENFORCEMENT OF GOALS.— 
The requirements of section 1336 of the Federal Housing 
Enterprises Safety and Soundness Act of 1992, shall 
apply to this section, in the same manner and to the same 
extent as that section applies to the Federal housing enter-
prises. 
‘‘(e) ANNUAL REPORT.—The Director shall annually 
report to Congress on the performance of the Banks in 
meeting the goals established under this section.’’. 
SEC. 206. COMMUNITY DEVELOPMENT FINANCIAL INSTITU-
TIONS. 
Section 4(a)(1) of the Federal Home Loan Bank Act 
(12 U.S.C. 1424(a)(1)) is amended— 
(1) by inserting after ‘‘savings bank,’’ the fol-
lowing: ‘‘community development financial institu-
tion,’’; and 
(2) in subparagraph (B), by inserting after 
‘‘United States,’’ the following: ‘‘or, in the case of a 
community development financial institution, is cer-
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294 
tified as a community development financial institu-
tion under the Community Development Banking 
and Financial Institutions Act of 1994.’’. 
SEC. 207. SHARING OF INFORMATION AMONG FEDERAL 
HOME LOAN BANKS. 
The Federal Home Loan Bank Act is amended by 
inserting after section 20 (12 U.S.C. 1440) the following 
new section: 
‘‘SEC. 20A. SHARING OF INFORMATION AMONG FEDERAL 
HOME LOAN BANKS. 
‘‘(a) INFORMATION ON FINANCIAL CONDITION.—In 
order to enable each Federal Home Loan Bank to evaluate 
the financial condition of one or more of the other Federal 
Home Loan Banks individually and the Federal Home 
Loan Bank System (including any risks associated with 
the issuance or repayment of consolidated Federal Home 
Loan Bank bonds and debentures or other borrowings and 
the joint and several liabilities of the Banks incurred due 
to such borrowings), as well as to comply with any of its 
obligations under the Securities Exchange Act of 1934 (15 
U.S.C. 78a et seq.), the Director shall make available to 
the Banks such reports, records, or other information as 
may be available, relating to the condition of any Federal 
Home Loan Bank. 
‘‘(b) SHARING OF INFORMATION.— 
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295 
‘‘(1) IN GENERAL.—The Director shall promul-
gate regulations to facilitate the sharing of informa-
tion made available under subsection (a) directly 
among the Federal Home Loan Banks. 
‘‘(2) LIMITATION.—Notwithstanding paragraph 
(1), a Federal Home Loan Bank responding to a re-
quest from another Bank or from the Director for 
information pursuant to this section may request 
that the Director determine that such information is 
proprietary and that the public interest requires that 
such information not be shared. 
‘‘(c) LIMITATION.—Nothing in this section shall af-
fect the obligations of any Federal Home Loan Bank 
under the Securities Exchange Act of 1934 (15 U.S.C. 
78a et seq.) or the regulations issued by the Securities 
and Exchange Commission thereunder.’’. 
SEC. 208. EXCLUSION FROM CERTAIN REQUIREMENTS. 
(a) IN GENERAL.—The Federal Home Loan Banks 
shall be exempt from compliance with— 
(1) sections 13(e), 14(a), and 14(c) of the Se-
curities Exchange Act of 1934, and related Commis-
sion regulations; 
(2) section 15 of the Securities Exchange Act 
of 1934, and related Commission regulations, with 
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298 
(A) 
the 
term 
‘‘government 
securities 
broker’’ under section 3(a)(43) of the Securities 
Exchange Act of 1934; and 
(B) the term ‘‘government securities deal-
er’’ under section 3(a)(44) of the Securities Ex-
change Act of 1934. 
(d) 
EXEMPTION
FROM
REPORTING
REQUIRE-
MENTS.—The Federal Home Loan Banks shall be exempt 
from periodic reporting requirements under the securities 
laws pertaining to the disclosure of— 
(1) related party transactions that occur in the 
ordinary course of the business of the Banks with 
members; and 
(2) the unregistered sales of equity securities. 
(e) TENDER OFFERS.—Commission rules relating to 
tender offers shall not apply in connection with trans-
actions in the capital stock of the Federal Home Loan 
Banks. 
(f) REGULATIONS.— 
(1) IN GENERAL.—The Commission shall pro-
mulgate such rules and regulations as may be nec-
essary or appropriate in the public interest or in fur-
therance of this section and the exemptions provided 
in this section. 
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(2) CONSIDERATIONS.—In issuing regulations 
under this section, the Commission shall consider 
the distinctive characteristics of the Federal Home 
Loan Banks when evaluating— 
(A) the accounting treatment with respect 
to the payment to the Resolution Funding Cor-
poration; 
(B) the role of the combined financial 
statements of the Federal Home Loan Banks; 
(C) the accounting classification of redeem-
able capital stock; and 
(D) the accounting treatment related to 
the joint and several nature of the obligations 
of the Banks. 
(g) DEFINITIONS.—As used in this section— 
(1) the terms ‘‘Bank’’, ‘‘Federal Home Loan 
Bank’’, ‘‘member’’, and ‘‘Federal Home Loan Bank 
System’’ have the same meanings as in section 2 of 
the Federal Home Loan Bank Act (12 U.S.C. 
1422); 
(2) the term ‘‘Commission’’ means the Securi-
ties and Exchange Commission; and 
(3) the term ‘‘securities laws’’ has the same 
meaning as in section 3(a)(47) of the Securities Ex-
change Act of 1934 (15 U.S.C. 78c(a)(47)). 
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300 
SEC. 209. VOLUNTARY MERGERS. 
Section 26 of the Federal Home Loan Bank Act (12 
U.S.C. 1446) is amended— 
(1) by striking ‘‘Whenever’’ and inserting ‘‘(a) 
IN GENERAL.—Whenever’’; and 
(2) by adding at the end the following: 
‘‘(b) VOLUNTARY MERGERS AUTHORIZED.— 
‘‘(1) IN GENERAL.—Any Federal Home Loan 
Bank may, with the approval of the Director and of 
the boards of directors of the Banks involved, merge 
with another Bank. 
‘‘(2) REGULATIONS REQUIRED.—The Director 
shall promulgate regulations establishing the condi-
tions and procedures for the consideration and ap-
proval of any voluntary merger described in para-
graph (1), including the procedures for Bank mem-
ber approval.’’. 
SEC. 210. AUTHORITY TO REDUCE DISTRICTS. 
Section 3 of the Federal Home Loan Bank Act (12 
U.S.C. 1423) is amended— 
(1) by striking ‘‘As soon’’ and inserting ‘‘(a) IN 
GENERAL.—As soon’’; and 
(2) by adding at the end the following: 
‘‘(b) AUTHORITY TO REDUCE DISTRICTS.—Notwith-
standing subsection (a), the number of districts may be 
reduced to a number less than 8— 
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‘‘(1) pursuant to a voluntary merger between 
Banks, as approved pursuant to section 26(b); or 
‘‘(2) pursuant to a decision by the Director to 
liquidate a Bank pursuant to section 1367 of the 
Federal Housing Enterprises Financial Safety and 
Soundness Act of 1992.’’. 
SEC. 211. COMMUNITY FINANCIAL INSTITUTION MEMBERS. 
(a) TOTAL ASSET REQUIREMENT.—Paragraph (10) 
of section 2 of the Federal Home Loan Bank Act (12 
U.S.C. 1422(10)), as so redesignated by section 201(3) 
of this Act, is amended by striking ‘‘$500,000,000’’ each 
place such term appears and inserting ‘‘$1,000,000,000’’. 
(b) USE OF ADVANCES FOR COMMUNITY DEVELOP-
MENT ACTIVITIES.—Section 10(a) of the Federal Home 
Loan Bank Act (12 U.S.C. 1430(a)) is amended— 
(1) in paragraph (2)(B)— 
(A) by striking ‘‘and’’; and 
(B) by inserting ‘‘, and community devel-
opment activities’’ before the period at the end; 
(2) in paragraph (3)(E), by inserting ‘‘or com-
munity development activities’’ after ‘‘agriculture,’’; 
and 
(3) in paragraph (6)— 
(A) by striking ‘‘and’’; and 
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(B) by inserting ‘‘, and ‘community devel-
opment activities’ ’’ before ‘‘shall’’. 
SEC. 212. PUBLIC USE DATA BASE; REPORTS TO CONGRESS. 
Section 10 of the Federal Home Loan Bank Act (12 
U.S.C. 1430) is amended— 
(1) in subsection (j)(12)— 
(A) by striking subparagraph (C) and in-
serting the following: 
‘‘(C) REPORTS.—The Director shall annu-
ally report to the Committee on Banking, Hous-
ing, and Urban Affairs of the Senate and the 
Committee on Financial Services of the House 
of Representatives on the collateral pledged to 
the Banks, including an analysis of collateral by 
type and by Bank district.’’; and 
(B) by adding at the end the following: 
‘‘(D) SUBMISSION TO CONGRESS.—The Di-
rector shall submit the reports under subpara-
graphs (A) and (C) to the Committee on Bank-
ing, Housing, and Urban Affairs of the Senate 
and the Committee on Financial Services of the 
House of Representatives, not later than 180 
days after the date of enactment of the Federal 
Housing Finance Regulatory Reform Act of 
2008.’’; and 
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(2) by adding at the end the following: 
‘‘(k) PUBLIC USE DATABASE.— 
‘‘(1) DATA.—Each Federal Home Loan Bank 
shall provide to the Director, in a form determined 
by the Director, census tract level data relating to 
mortgages purchased, if any, including— 
‘‘(A) data consistent with that reported 
under section 1323 of the Federal Housing En-
terprises Financial Safety and Soundness Act 
of 1992; 
‘‘(B) data elements required to be reported 
under the Home Mortgage Disclosure Act of 
1975; and 
‘‘(C) any other data elements that the Di-
rector considers appropriate. 
‘‘(2) PUBLIC USE DATABASE.— 
‘‘(A) IN
GENERAL.—The Director shall 
make available to the public, in a form that is 
useful to the public (including forms accessible 
electronically), and to the extent practicable, 
the data provided to the Director under para-
graph (1). 
‘‘(B) PROPRIETARY
INFORMATION.—Not 
withstanding subparagraph (A), the Director 
may not provide public access to, or disclose to 
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