Federal Enterprise Regulatory Reform Act of 2003

Summary

Federal Enterprise Regulatory Reform Act of 2003 - Amends the Housing and Community Development Act of 1992 to establish in the Department of the Treasury the Office of Federal Enterprise Supervision. Transfers to the Director of such Office supervisory and regulatory authority over specified government sponsored enterprises (Fannie Mae and Freddie Mac) from the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD) and from the Secretary of Housing and Urban Development. Prohibits merger or consolidation of such Office or its functions. Requires: (1) the Director to ensure that the enterprises operate in a financially safe manner and remain adequately capitalized; and (2) that each enterprise have prior approval of the Director before implementing a new program. Sets forth operating, administrative, and regulatory provisions of the Director, including provisions respecting: (1) assessment authority; (2) authority to limit nonmission-related assets; (3) minimum and critical capital levels; (4) risk-based capital test; (5) capital classifications and undercapitalized enterprises; (6) enforcement actions and penalties; and (7) reporting. Sets forth certain retained authorities of the Secretary. Abolishes the Office of Federal Housing Enterprise Oversight. Sets forth related transfer of personnel and facility and property provisions.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 31 July 2003

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR 8/1/2003 S10623-10631)

   Source: IntroReferral

2. 31 July 2003

   Introduced

   Sponsor introductory remarks on measure. (CR S10623)

   Source: IntroReferral

3. 31 July 2003

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 1 April 2004

   Reported

   Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 31 July 2003 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 31 July 2003

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 31 July 2003

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 31 July 2003

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Hagel, Chuck [R-NE] · R · Sponsor
• Sen. Sununu, John E. [R-NH] · R · Sponsor
• Sen. Dole, Elizabeth [R-NC] · R · Sponsor
• Sen. McCain, John [R-AZ] · R · Cosponsor
• Sen. Lott, Trent [R-MS] · R · Cosponsor
• · ssbk00 · Standing

Related records

• related to → Federal Housing Enterprise Oversight Modernization Act of 2003