PUBLIC LAW 102-550—OCT. 28, 1992

106 STAT. 3949

(1) FINANCIAL OPERATING PLANS AND FORECASTS.—Before
the beginning of each fiscal year, the Director shall submit
a copy of the financial operating plans and forecasts for the
Office to the Secretary ana the Director of the Office of Manage-
ment and Budget.

(2) REPORTS OF OPERATIONS.—As soon as practicable after
the end of each fiscal year and each quarter thereof, the Direc-
tor shall submit a copy of the report of the results of the
operations of the Office during such period to the Secretary
and the Director of the Office of Management and Budget.

(3) INCLUSION IN PRESIDENT'S BUDGET.—The annual plans,
forecasts, and reports required under this subsection shall be
included (A) in the Budget of the United States in the appro-
priate form, and (B) in the congressional justifications of the
Department of Housing and Urban Development for each fiscal
year in a form determined by the Secretary.

SEC. 1317. EXAMINATIONS. 12 USC 4517.

(a) ANNUAL EXAMINATION.—The Director shall annually conduct
an on-site examination under this section of each enterprise to
determine the condition of the enterprise for the purpose of ensuring
its financial safety and soundness.

(b) OTHER EXAMINATIONS.—In addition to annual examinations
under subsection (a), the Director may conduct an examination
under this section whenever the Director determines that an exam-
ination is necessary to determine the condition of an enterprise
for the purpose of ensuring its financial safety and soundness.

(c) EXAMINERS.—The Director shall appoint examiners to con-
duct examinations under this section. The Director may contract Contracts,
with the Comptroller of the Currency, the Board of Governors

of the Federal Reserve System, the Federal Deposit Insurance Cor-
poration, or the Director of the Office of Thrift Supervision for
the services of examiners. The Director shall reimburse such agen-
cies for any costs of providing examiners from amounts available
in the Federal Housing Enterprises Oversight Fund.

(d) LAW APPLICABLE TO EXAMINERS.—The Director and each
examiner shall have the same authority and each examiner shall
be subject to the same disclosures, prohibitions, obligations, and
penalties as are applicable to examiners employed by the Federal
Reserve banks.

(e) TECHNICAL EXPERTS.—The Director may obtain the services
of any technical experts the Director considers appropriate to pro-
vide temporary technical assistance relating to examinations to
the Director, officers, and employees of the Office. The Director
shall describe, in the record of each examination, the nature and
extent of any such temporary technical assistance.

(f) OATHS, EVIDENCE, AND SUBPOENA POWERS.—In connection
with examinations under this section, the Director shall have the
authority provided under section 1379B.

SEC. 1318. PROHIBITION OF EXCESSIVE COMPENSATION. 12 USC 4518.

(a) IN GENERAL.—The Director shall prohibit the enterprises
from providing compensation to any executive officer of the enter-
prise that is not reasonable and comparable with compensation
for employment hi other similar businesses (including other publicly
held financial institutions or major financial services companies)
involving similar duties and responsibilities.