Most of this GSE definition has since been rendered obsolete in the Gov conceivership nationalization of F&F.
Also, TSE is a more appropriate term, i.e., "Taxpayer Sponsored Enterprise".
Thanks for finding this.
The term ‘‘government-sponsored enterprise’’ means a corporate entity created by a law of the United States that —
(A) (i) has a Federal charter authorized by law;
(ii) is privately owned, as evidenced by capital stock owned by private entities or individuals;
(iii) is under the direction of a board of directors, a majority of which is elected by private owners;
(iv) is a financial institution with power to — (I) make loans or loan guarantees for limited purposes such as to provide credit for specific borrowers or one sector; and
(II) raise funds by borrowing (which does not carry the full faith and credit of the Federal Government) or to guarantee the debt of others in unlimited amounts; and
(B) (i) does not exercise powers that are reserved to the Government as sovereign (such as the power to tax or to regulate interstate commerce);
(ii) does not have the power to commit the Government financially (but it may be a recipient of a loan guarantee commitment made by the Government); and
(iii) has employees whose salaries and expenses are paid by the enterprise and are not Federal employees subject to title 5.