AGENCY OVERSIGHT OF FEDERAL HOME LOAN BANKS.

SEC. 1204. 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—122 STAT. 2786(1) by striking sections 2A and 2B (12 U.S.C. 1422a, 1422b);(2) in section 18 (12 U.S.C. 1438), by striking subsection (b);(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 sentences, by striking “the Board” each place such term appears and inserting “the Office 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 second place such term appears and inserting “such Office”; and(C) in subsection (f)—(i) by striking the 2 commas after “permit” and inserting “or”; and(ii) by striking the comma after “require”;(4) in section 6 (12 U.S.C. 1426)—(A) in subsection (b)(1), in the matter preceding 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 Finance 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”;(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 Director”;(11) by striking “The Finance Board” each place that term appears and inserting “The Director”; and(12) by striking “Federal Housing Finance Board” each place that term appears and inserting “Director”.