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Subsection (b)(2) of the statute is a specific authority delegation because it directs the Director to promulgate regulations that establish the conditions and procedures for voluntary mergers. This is a clearly defined regulatory task, as it mandates regulations to oversee a clearly defined action. While subsection (a) contains more open ended terms, the statute overall fits the “Specific Authority” definition.
The statute instructs the Director on the specific regulatory task of facilitating information sharing among the Federal Home Loan Banks, which falls under the definition of Specific Authority Delegations.
While the statute does grant broad authority, it also clearly instructs the agency on specific regulatory tasks relating to the Financing Corporation, as well as defining terms within the section. It includes defining terms used in this section.
While the statute grants broad authority to the Thrift Depositor Protection Oversight Board to issue regulations necessary to carry out the section, the regulations themselves concern very specific aspects of the Funding Corporation’s operations. The regulations cover administrative expenses, selection of depositaries, interest payments, handling of surplus funds, and reporting/audit requirements, all of which are specifically outlined in the statute itself. The language “necessary to carry out this section” indicates a clear legislative intent to enable agency action within a defined framework and task.
The statute specifically allows the Thrift Depositor Protection Oversight Board to prescribe “any regulations necessary to carry out this section” 12 U.S.C. 1441b(l). The regulation defines specific procedures for book-entry security transfers, directly tied to carrying out the funding purposes defined in 1441b. Therefore, this falls under “Specific Authority Delegations” as the regulation directly supports fulfilling the obligations of the Act.
The statute provides specific instructions regarding the sharing and collection of member financial information, explicitly directing certain agencies to make information available and members to consent to examinations. While the statute doesn’t specify every detail regarding membership, it provides a clear directive related to the regulatory area, qualifying it as Specific Authority.
The statute specifically identifies the regulatory task, which is prescribing “regulations, restrictions, and limitations” on how Federal Home Loan Bank reserves are invested. While the statute uses broad terms like “regulations, restrictions, and limitations,” it clearly instructs the agency on the specific regulatory task of overseeing the investment of reserves.
12 U.S.C. § 1436(a) specifically authorizes the Director to prescribe regulations, restrictions, and limitations regarding the investment of Federal Home Loan Bank reserves. It also instructs the FHL Banks to establish additional reserves and make charge-offs as the Director shall require. This points to a clearly delineated regulatory task regarding reserves, charge-offs, and investment limitations and practices, even with the open ended language.
The statute specifically instructs the Director to require examinations and reports of condition. While the exact details of the “form” are left to the Director’s discretion, the regulatory task is specifically identified: examinations and reports of condition. The term “in such form as the Director shall prescribe” is an example of the “open-ended terms like ‘appropriate,’ ‘reasonable,’ or ‘necessary'” that Hickman associates with specific authority delegations.
The statute specifically instructs the Director to require examinations and reports of condition, which falls under the umbrella of specific authority. While the term “in such form as the Director shall prescribe” offers some discretion, it doesn’t broaden the overall mandate beyond the specific regulatory task of examinations and reports.
The statute specifically directs the Director to require examinations and reports of condition of Federal Home Loan Banks, and gives the Director authority to prescribe the form of these reports. The regulation elaborates on the details of these reports, specifically focusing on “capital requirements, capital stock, and capital plans.” This falls under Hickman’s definition of Specific Authority because it directs the agency to perform a specific regulatory task, in this case, to prescribe rules about the condition reports which would include capital.
The statute explicitly instructs the Director on specific regulatory tasks. For instance, it specifies that the regulations should govern the filing of organization certificates and the information required in those certificates. Additionally, the statute provides express authority to regulate the acquisition, holding, or disposition of housing project loans. While terms like “may require” and “such regulations as may be prescribed” offer some discretion, they are tied to specific regulatory tasks, thus placing it within Specific Authority.
The statute clearly instructs the Director to prescribe rules and regulations pertaining to the content and filing of the organization certificate of Federal Home Loan Banks. It identifies a specific regulatory task. While terms like “such information as the Director may require” are open-ended, they fall within the realm of specific authority delegations as defined by Hickman.
While the statute speaks to the powers of the Federal Home Loan Banks and the Director’s authority to prescribe rules and regulations, it does not specifically instruct the agency on regulatory tasks related to mergers. The statute provides broad rulemaking authority concerning the administration of the banks’ affairs.
The statute provides authorization for the Federal Home Loan Banks to issue obligations with the approval of the Board or the Director, further, the statute dictates that these obligations should plainly state that they are not obligations of the United States and are not guaranteed by the United States. While the statute doesn’t specifically list out every rule that should stem from this authorization, it lays out some requirements that directly informs the scope and function of the regulation.
The statute provides specific instructions regarding reserves, dividends, and investments, instructing the Director to prescribe “regulations, restrictions, and limitations” on how bank reserves are invested.
The statute identifies a specific regulatory task (financial oversight and powers of the Federal Home Loan Banks) and instructs the Director to prescribe rules and regulations related to specific areas like borrowing, security, interest rates, debentures and bonds. Even though terms like “terms and conditions as the Director may approve” are used, they relate to the specific tasks identified by the statute.
While some subsections of 12 U.S.C. § 1431 provide relatively specific direction (e.g., reserve requirements in subsection (g), loans to the Deposit Insurance Fund in subsection (k)), the statute, as a whole, grants the Director and the Office of Finance broad rulemaking authority concerning the operations, investments, and financial instruments of the Federal Home Loan Banks. Subsection (a) is particularly broad, granting power to the FHL Banks “subject to rules and regulations prescribed by the Director” and to issue obligations “upon such terms and conditions as the Director may approve.” This best fits the “general authority” category because it grants broad powers without specifically addressing a precise regulatory gap.
The statute specifically instructs the Director to prescribe rules and regulations concerning the organization certificate of Federal Home Loan Banks, including the information required in the certificate. This fits within Hickman’s definition of a Specific Authority Delegation as it clearly instructs the agency on a specific regulatory task.
The statute clearly instructs the Director on specific regulatory tasks related to the organization and powers of the Federal Home Loan Banks. It specifically directs the Director to prescribe rules and regulations related to the organization certificates and provides specific direction on housing project loans.
The statute provides specific guidance by instructing the Director to prescribe rules and regulations regarding the organization certificate that must be filed by the directors of each Federal Home Loan Bank and regarding housing project loans. This aligns with Hickman’s definition of Specific Authority Delegations because it gives the agency director specific regulatory tasks, even using open-ended terms.
The statute provides clear instructions to the Director regarding specific regulatory tasks, such as setting the terms and conditions for borrowing, issuing debentures, accepting deposits, managing reserves, investing surplus funds, and rediscounting notes. While terms like “such terms and conditions as the Director may prescribe” are open-ended, they fall within the scope of what Kristin Hickman identifies as acceptable for Specific Authority Delegations. The statute does not merely provide broad rulemaking authority; it ties the authority to specific activities and responsibilities of the Federal Home Loan Banks.
The statute provides broad rulemaking authority to the Director to prescribe “rules and regulations” for carrying out the provisions of the chapter, as evidenced by phrases such as “upon such terms and conditions as the Director may approve,” and “subject to rules and regulations prescribed by the Director”. This broad delegation does not identify specific regulatory tasks, but rather provides the Director with considerable discretion to regulate the powers and duties of the Federal Home Loan Banks.
The statute frequently instructs the Director to prescribe rules and regulations related to specific regulatory tasks, including the terms and conditions for borrowing, issuing debentures, accepting deposits, rediscounting notes, and investing surplus funds. While terms like “such terms and conditions as the Director may prescribe” are open-ended, they are related to clearly defined regulatory tasks.
The statute gives the Director authority to prescribe “rules and regulations” related to very specific tasks, such as borrowing money, issuing bonds/debentures, accepting deposits from members, rediscounting notes, and determining the terms and conditions of those activities. It instructs the agency on how to fulfill specific regulatory gaps within the confines of the statute.