DUTY AND AUTHORITY OF DIRECTOR.

SEC. 1313. DUTY AND AUTHORITY OF DIRECTOR. (a) Duty.—The duty of the Director shall be to ensure that the enterprises are adequately capitalized and operating safely, in accordance with this title. (b) Authority Exclusive of Secretary.—The Director is authorized, without the review or approval of the Secretary, to make such determinations, take such actions, and perform such functions as the Director determines necessary regarding— (1) the issuance of regulations to carry out this part, sub-title B, and subtitle C (including the establishment of capital standards pursuant to subtitle B); (2) examinations of the enterprises under section 1317; (3) determining the capital levels of the enterprises and classification of the enterprises within capital classifications established under subtitle B; (4) decisions to appoint conservators for the enterprises; (5) administrative and enforcement actions under subtitle B, actions taken under subtitle C with respect to enforcement of subtitle B, and other matters relating to safety and soundness; 106 STAT. 3946 (6) approval of payments of capital distributions by the enterprises under section 303(c)(2) of the Federal National Mortgage Association Charter Act and section 303(b)(2) of the Federal Home Loan Mortgage Corporation Act; (7) requiring the enterprises to submit reports under section 1314 of this title, section 309(k) of the Federal National Mortgage Association Charter Act, and section 307(c) of the Federal Home Loan Mortgage Corporation Act; (8) prohibiting the payment of excessive compensation by the enterprises to any executive officer of the enterprises under section 1318; (9) the management of the Office, including the establishment and implementation of annual budgets, the hiring of, and compensation levels for, personnel of the Office, and annual assessments for the costs of the Office; (10) conducting research and financial analysis; and (11) the submission of reports required by the Director under this title. (c) Authority Subject to Approval of Secretary.—Any determinations, actions, and functions of the Director not referred to in subsection (b) shall be subject to the review and approval of the Secretary. (d) Delegation of Authority.—The Director may delegate to officers and employees of the Office any of the functions, powers, and duties of the Director, as the Director considers appropriate. (e) Independence in Providing Information to Congress.—The Director shall not be required to obtain the prior approval, comment, or review of any officer or agency of the United States before submitting to the Congress, or any committee or subcommittee thereof, any reports, recommendations, testimony, or comments if such submissions include a statement indicating that the views expressed therein are those of the Director and do not necessarily represent the views of the Secretary or the President.