; and (B) with respect to any other Fund, contributes to a failure to meet a capital reserve requirement established pursuant to section 219(a) or is likely to threaten the adequacy of the capital of such Fund; and (2) to take corrective or remedial action, including— (A) restricting the growth of, or contracting, any category of assets or liabilities; (B) reducing, modifying, or terminating any activity that the Director determines creates excessive risk to the FHA; (C) terminating agreements or contracts; (D) engaging or employing qualified employees (who may be subject to approval by the Director at the direction of the Director); or (E) submitting to the Director for review and approval a detailed and complete operating plan. (c) Reports If the Director is authorized under subsection (a) of this section or section 219(b) to take action under subsection (b) of this section and determines not to take any such action, the Director shall prepare a report detailing the basis of the Director’s decision not to take such action and shall, within 30 days of the decision, submit the report to the President, the Director of the Office of Management and Budget, the Comptroller General of the United States, the Committee on Financial Services of the House of Representatives, and the Committee on Banking, Housing, and Urban Affairs of the Senate. (d) Capital restoration plans A capital restoration plan submitted pursuant to section 217(c), 219(b), or 220(d)(3) shall— (1) set forth a feasible plan for raising or restoring the capital of the Fund for which it is prepared; (2) specify the level of capital to be achieved and maintained; (3) be submitted to the Director within 45 days from the date of notification, or if the Director determines that an extension is necessary, within such additional time as the Director so determines; (4) describe the actions that the FHA shall take for such Fund to become classified as adequately capitalized; (5) establish a schedule for completing the actions set forth in the plan