To improve supervision and regulation with respect to the financial safety and soundness of the Federal Agricultural Mortgage Corporation, and for other purposes.
Federal Agricultural Mortgage Corporation Financial Safety and Soundness Act of 1991 - Title I: Office of Secondary Market Examination and Oversight - Establishes in the Treasury: (1) the Office of Secondary Market Examination and Oversight; and (2) the Agricultural Secondary Market Examination and Oversight Fund.
Title II: Required Capital Levels and Special Enforcement Powers - Sets forth provisions regarding: (1) minimum and critical capital levels for the Federal Agricultural Mortgage Corporation (Corporation); (2) conservatorship; (3) capital restoration plans; and (4) judicial review of Office actions.
Title III: Cease-and-Desist Orders and Civil Money Penalties - Sets forth provisions regarding: (1) ceast-and-desist orders; (2) civil money penalties; (3) hearings; (4) judicial review; and (5) subpoena authority.
Title IV: Amendments to Farm Credit Act of 1971 - Amends the Farm Credit Board with regard to: (1) Corporation dividend reports; and (2) the Farm Credit Administration Operating Expenses Fund.
Title V: Amendments to Title 5 of United States Code - Amends Federal law to include the Director of the Office of Secondary Market Examination and Oversight, Department of the Treasury within level II of the executive schedule.
Title VI: Implementation - Sets forth implementing regulations provisions.
Introduced in House
Introduced in House
Referred jointly to the House Committee on Agriculture.
Referred jointly to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Conservation, Credit, and Rural Development.
Referred to the Subcommittee on Policy, Research and Insurance.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line