Government-Sponsored Enterprises (GSEs): Reform Legislation in the 109th Congress (CRS Report for Congress)
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| Release Date |
Revised Jan. 16, 2007 |
| Report Number |
RL32795 |
| Report Type |
Report |
| Authors |
Mark Jickling, Government and Finance Division |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
In the 109th Congress, H.R. 1461 and S. 190 propose to restructure the GSEsupervisor and enhance its regulatory powers. H.R. 1461 was marked up andreported by the Financial Services Committee on May 25, 2005, and passed the fullHouse, with amendments, on October 26, 2005. Chairman Shelby put forward anamendment in the nature of a substitute for S. 190, which was marked up andapproved by the Banking Committee on July 28, 2005.Common provisions of S. 190 and H.R. 1461 would abolish OFHEO andestablish an independent agency to oversee the housing GSEs and the Federal HomeLoan Banks; enhance the safety and soundness, disclosure, and enforcement toolsavailable to the new regulator; and increase the budget autonomy of the new agencyby exempting its assessments from the annual appropriations process. S. 190 asreported takes the further step of limiting the type of assets that Fannie and Freddiecould hold in their investment portfolios.This report summarizes legislative proposals in the 109th Congress that aim tostrengthen the regulation of the GSEs.
