S.Amdt. 3978

SA 3978. Mr. JOHNSON (for himself, Ms. Landrieu, Mr. Burris, Mr.
Cardin, Mr. Brownback, Ms. Murkowski, Mr. Bennett, and Mr. Crapo)
submitted an amendment intended to be proposed to amendment SA 3739
proposed by Mr. Reid (for Mr. Dodd (for himself and Mrs. Lincoln)) to
the bill S. 3217, to promote the financial stability of the United
States by improving accountability and transparency in the financial
system, to end ``too big to fail'', to protect the American taxpayer by
ending bailouts, to protect consumers from abusive financial services
practices, and for other purposes; which was ordered to lie on the
table; as follows:

On page 58, line 3, insert after ``Council.'' the
following: ``Notwithstanding the foregoing, the Federal
Housing Finance Agency shall consider, but is not required to
adopt, any Council recommendation regarding concentration
limits on fully secured extensions of credit by a Federal
home loan bank to any member or former member institution
made in compliance with Federal Housing Finance Agency
regulations.''.
On page 99, line 14, insert after ``risks.'' the following:
``Notwithstanding any other provision of this title, the
Board of Governors shall not prescribe standards that limit
fully secured extensions of credit by a Federal home loan
bank to any member or former member institution made in
compliance with Federal Housing Finance Agency
regulations.''.

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