STUDIES OF RELATIONSHIP BETWEEN PUBLIC DEBT AND ACTIVITIES OF GOVERNMENT-SPONSORED ENTERPRISES.

SEC. 1404. STUDIES OF RELATIONSHIP BETWEEN PUBLIC DEBT AND ACTIVITIES OF GOVERNMENT-SPONSORED ENTERPRISES. (a) In General.—In order to better manage the bonded indebtedness of the United States, the Secretary shall conduct 2 annual studies to assess the financial safety and soundness of the activities of all Government-sponsored enterprises and the impact of their operations on Federal borrowing. (b) Access to Relevant Information.— (1) Information from gse’s.—Each Government-sponsored enterprise shall provide full and prompt access to the Secretary to its books and records, and shall promptly provide any other information requested by the Secretary. (2) Information from supervisory agencies.—In conducting the studies under this section, the Secretary may request information from, or the assistance of, any Federal department or agency authorized by law to supervise the activities of any Government-sponsored enterprise. (3) Confidentiality of information.— (A) In general.—The Secretary shall determine and maintain the confidentiality of any book, record, or information made available under this subsection in a manner generally consistent with the level of confidentiality established for the material by the Government-sponsored enterprise involved. (B) Exemption from public disclosure requirements.—The Department of the Treasury shall be exempt from section 552 of title 5, United States Code, with respect to any book, record, or information made available under this subsection and determined by the Secretary to be confidential under subparagraph (A). 103 STAT. 552 (C) Penalty for unauthorized disclosure.—Any officer or employee of the Department of the Treasury shall be subject to the penalties set forth in section 1906 of title 18, United States Code, if— (i) by virtue of his employment or official position, he has possession of or access to any book, record, or information made available under this subsection and determined by the Secretary to be confidential under subparagraph (A); and (ii) he discloses the material in any manner other than— (I) to an officer or employee of the Department of the Treasury; or (II) pursuant to the exceptions set forth in such section 1906. (c) Assessment of Risk.—In assessing the financial safety and soundness of the activities of Government-sponsored enterprises, and the impact of their activities on Federal borrowing, the Secretary shall quantify the risks associated with each Government-sponsored enterprise. In quantifying such risks, the Secretary shall determine the volume and type of securities outstanding which are issued or guaranteed by each Government-sponsored enterprise, the capitalization of each Government-sponsored enterprise, and the degree of risk involved in the operations of each Government- sponsored enterprise due to factors such as credit risk, interest rate risk, management and operations risk, and business risk. The Secretary shall also report on the quality and timeliness of information currently available to the public and the Federal Government concerning the extent and nature of the activities of Government-sponsored enterprises and the financial risk associated with such activities. (d) Reports to Congress.—The Secretary shall submit to the Congress— (1) by May 15, 1990, a report setting forth the results of the 1st annual study conducted under this section; and (2) by May 15, 1991, a report setting forth the results of the 2nd annual study conducted under this section. (e) Definitions.—For purposes of this section: (1) Government-sponsored enterprise.—The term “Government-sponsored enterprise” means— (A) the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Federal Home Loan Bank System, the Farm Credit Banks, the Banks for Cooperatives, the Federal Agricultural Mortgage Corporation, the Student Loan Marketing Association, the College 103 STAT. 553Construction Loan Insurance Association, and any of their affiliated or member institutions; and (B) any other Government-sponsored enterprise, as designated by the Secretary. (2) Secretary.—The term “Secretary” means the Secretary of the Treasury or his delegate.