106 STAT. 3946 PUBLIC LAW 102-550—OCT. 28, 1992

(6) approval of payments of capital distributions by the
enterprises under section 303(cX2) of the Federal National
Mortgage Association Charter Act and section 303(bX2) of the
Federal Home Loan Mortgage Corporation Act;

(7) requiring the enterprises to submit reports under sec-
tion 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 establish-
ment 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 OP 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 subcommit-
tee 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.

12 USC 4514. SEC. 1314. AUTHORITY TO REQUIRE REPORTS BY ENTERPRISES.

(a) SPECIAL REPORTS AND REPORTS OF FINANCIAL CONDITION.—

(1) FINANCIAL CONDITION.—The Director may require an
enterprise to submit reports of financial condition and oper-
ations (in addition to the annual and quarterly reports required
under section 309(k) of the Federal National Mortgage Associa-
tion Charter Act and section 307(c) of the Federal Home Loan
Mortgage Corporation Act).

(2) SPECIAL REPORTS.—The Director may also require an
enterprise to submit special reports whenever, in the judgment
of the Director, such reports are necessary to carry out the
purposes of this title.

(3) LIMITATION.—The Director may not require the inclu-
sion, in any report pursuant to paragraph (1) or (2), of any
information that is not reasonably obtainable by the enterprise.

(4) NOTICE AND DECLARATION.—The Director shall notify
the enterprise, a reasonable period hi advance of the date
for submission of any report under this subsection, of any
specific information to be contained in the report and the date
for the submission of the report. Each report under this sub-
section shall contain a declaration by the president, vice presi-
dent, treasurer, or any other officer designated by the board
of directors of the enterprise to make such declaration, that