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US (United States) Code. Title 22. Chapter 7: International bureaus, congresses, etc

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-CITE-

22 USC Sec. 283l 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283g742l. Increase in resources of the Fund for Special

Operations

-STATUTE-

(a) Authorization of vote; payment to Fund

The United States Governor of the Bank is hereby authorized to

vote in favor of the resolution entitled "Increase of Resources of

the Fund for Special Operations" proposed by the Governors at their

annual meeting in April 1964, and now pending before the Board of

Governors of the Bank. Upon the adoption of such resolution, the

United States Governor is authorized to agree, on behalf of the

United States to pay to the Fund for Special Operations of the

Bank, the sum of $750,000,000, in accordance with and subject to

the terms and conditions of such resolution.

(b) Authorization of appropriations

There is hereby authorized to be appropriated without fiscal year

limitation, for the United States share in the increase in the

resources of the Fund for Special Operations of the Bank, the sum

of $750,000,000.

With respect to any dollars herein provided, the voting power of

the United States shall be exercised for the purpose of

disapproving any loan from the Fund for Special Operations of the

Bank for any project, enterprise, or activity in any country,

during any period for which the President has suspended assistance

to the government of such country because of any action taken on or

after January 1, 1962, by the government of such country or any

government agency or subdivision within such country as specified

in paragraph (A), (B), or (C) of subsection (e)(1) of section 2370

of this title, and the failure of such country within a reasonable

time to take appropriate steps to discharge its obligations or

provide relief in accordance with provisions of such subsection.

-SOURCE-

(Pub. L. 86-147, Sec. 15, formerly Sec. 14, as added Pub. L. 89-6,

Mar. 24, 1965, 79 Stat. 23; renumbered Sec. 15, Pub. L. 90-88, Sec.

1, Sept. 22, 1967, 81 Stat. 226.)

-End-

-CITE-

22 USC Sec. 283m 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283m. Additional increases in resources of the Fund for

Special Operations

-STATUTE-

(a) Authorization of vote; payment to Fund

The United States Governor of the Bank is hereby authorized to

vote in favor of the resolution entitled "Increase of

$1,200,000,000 in Resources of Fund for Special Operations"

proposed by the Governors at their annual meeting in April 1967 and

now pending before the Board of Governors of the Bank. Upon the

adoption of such resolution, the United States Governor is

authorized to agree, on behalf of the United States, to pay to the

Fund for Special Operations of the Bank, the sum of $900,000,000,

in accordance with and subject to the terms and conditions of such

resolution, and subject to the further condition that in

consideration of the United States balance-of-payments deficit any

local cost financing, by project or otherwise, with the funds

authorized under this section to be held to the minimum possible

level. The United States Governor is also authorized to vote in

favor of the amendment to Annex C of the agreement, now pending

before the Board of Governors of the Bank, to modify the procedure

employed in the election of Executive Directors.

(b) Authorization of appropriations

There is hereby authorized to be appropriated without fiscal year

limitation, for the United States share in the increase in the

resources of the Fund for Special Operations of the Bank, the sum

of $900,000,000.

The voting power of the United States shall be exercised for the

purpose of disapproving any loan which might assist the recipient

country directly or indirectly to acquire sophisticated or heavy

military equipment.

-SOURCE-

(Pub. L. 86-147, Sec. 16, as added Pub. L. 90-88, Sec. 2, Sept. 22,

1967, 81 Stat. 227.)

-End-

-CITE-

22 USC Sec. 283n 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283n. Increase in authorized capital stock; United States

share; authorization of appropriations

-STATUTE-

(a) The United States Governor of the Bank is hereby authorized

(1) to vote for an increase in the authorized capital stock of the

Bank under article II, section 2, of the agreement as recommended

by the Board of Executive Directors in its report of April 1967, to

the Board of Governors of the Bank; and (2) to agree on behalf of

the United States to subscribe to its proportionate share of the

$1,000,000,000 increase in the authorized callable capital stock of

the bank.

(b) There is hereby authorized to be appropriated, without fiscal

year limitation, for payment by the Secretary of the Treasury of

the increased United States subscription to the capital stock of

the Inter-American Development Bank, $411,760,000.

-SOURCE-

(Pub. L. 86-147, Sec. 17, as added Pub. L. 90-325, June 4, 1968, 82

Stat. 168.)

-End-

-CITE-

22 USC Sec. 283o 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283g742o. Increase in authorized capital stock and additional

subscriptions of members thereto; increase in resources of Fund

for Special Operations and contributions thereto; United States

share; authorization of appropriations

-STATUTE-

(a) The United States Governor of the Bank is hereby authorized

to vote in favor of the two resolutions proposed by the Governors

at their annual meeting in April 1970 and now pending before the

Board of Governors of the Bank, which provide for (1) an increase

in the authorized capital stock to the Bank and additional

subscriptions of members thereto and (2) an increase in the

resources of the Fund for Special Operations and contributions

thereto. Upon adoption of such resolutions the United States

Governor is authorized to agree on behalf of the United States (1)

to subscribe to eighty-two thousand three hundred and fifty-two

shares of $10,000 par value of the increase in the authorized

capital stock of the Bank of which sixty-seven thousand three

hundred and fifty-two shall be callable shares and fifteen thousand

shall be paid in and (2) to pay to the Fund for Special Operations

an initial annual installment of $100,000,000 and, upon further

authorization by the Congress two subsequent annual installments of

$450,000,000 each, in accordance with and subject to the terms and

conditions of such resolutions.

(b) There are hereby authorized to be appropriated, without

fiscal year limitation, the amounts necessary for payment by the

Secretary of the Treasury of (1) three annual installments of

$50,000,000 each for the United States subscription to paid-in

capital stock of the Bank; (2) two installments of $336,760,000

each for the United States subscription to the callable capital

stock of the Bank; and (3) one installment of $100,000,000 for the

United States share of the increase in the resources of the Fund

for Special Operations of the Bank.

-SOURCE-

(Pub. L. 86-147, Sec. 18, as added Pub. L. 91-599, ch. 2, Sec.

21(a), Dec. 30, 1970, 84 Stat. 1658.)

-End-

-CITE-

22 USC Sec. 283p 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283p. Authorization for payment of United States contribution

to increase Fund for Special Operations; authorization of

appropriations

-STATUTE-

(a) The United States Governor of the Bank is authorized to pay

to the Fund for Special Operations two annual installments of

$450,000,000 each in accordance with and subject to the terms and

conditions of the resolution adopted by the Board of Governors on

December 31, 1970, concerning an increase in the resources of the

Fund for Special Operations and contributions thereto.

(b) There are hereby authorized to be appropriated, without

fiscal year limitation, the amounts necessary for payment by the

Secretary of the Treasury of the two annual installments of

$450,000,000 each for the United States share of the increase in

the resources of the Fund for Special Operations of the Bank.

-SOURCE-

(Pub. L. 86-147, Sec. 19, as added Pub. L. 92-246, Sec. 1, Mar. 10,

1972, 86 Stat. 59.)

-End-

-CITE-

22 USC Sec. 283q 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283q. Articles of agreement; authorization to agree to

amendments

-STATUTE-

The United States Governor of the Bank is authorized to agree to

amendments to the provisions of the articles of agreement as

provided in proposed Board of Governors resolutions entitled (a)

"Amendment of the Provisions of the Agreement Establishing the Bank

with Respect to Membership and to Related Matters" and (b)

"Amendment of the Provisions of the Agreement Establishing the Bank

with Respect to the Election of Executive Directors".

-SOURCE-

(Pub. L. 86-147, Sec. 20, as added Pub. L. 92-246, Sec. 1, Mar. 10,

1972, 86 Stat. 59.)

-End-

-CITE-

22 USC Sec. 283r 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283r. Expropriation of United States property; loan

restrictions

-STATUTE-

The President shall instruct the United States Executive Director

of the Bank to vote against any loan or other utilization of the

funds of the Bank for the benefit of any country which has -

(1) nationalized or expropriated or seized ownership or control

of property owned by any United States citizen or by any

corporation, partnership, or association not less than 50 per

centum of which is beneficially owned by United States citizens;

(2) taken steps to repudiate or nullify existing contracts or

agreements with any United States citizen or any corporation,

partnership, or association not less than 50 per centum of which

is beneficially owned by United States citizens; or

(3) imposed or enforced discriminatory taxes or other

exactions, or restrictive maintenance or operational conditions,

or has taken other actions, which have the effect of

nationalizing, expropriating, or otherwise seizing ownership or

control of property so owned;

unless the President determines that (A) an arrangement for prompt,

adequate, and effective compensation has been made, (B) the parties

have submitted the dispute to arbitration under the rules of the

Convention for the Settlement of Investment Disputes, or (C) good

faith negotiations are in progress aimed at providing prompt,

adequate, and effective compensation under the applicable

principles of international law.

-SOURCE-

(Pub. L. 86-147, Sec. 21, as added Pub. L. 92-246, Sec. 1, Mar. 10,

1972, 86 Stat. 59.)

-End-

-CITE-

22 USC Sec. 283s 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283s. Illegal drug traffic; loan restrictions

-STATUTE-

The Secretary of the Treasury shall instruct the United States

Executive Director of the Bank to vote against any loan or other

utilization of the funds of the Bank for the benefit of any country

with respect to which the President has made a determination, and

so notified the Secretary of the Treasury, that the government of

such country has failed to take adequate steps to prevent narcotic

drugs and other controlled substances (as defined by the

Comprehensive Drug Abuse Prevention and Control Act of 1970 [21

U.S.C. 801 et seq.]) produced or processed, in whole or in part, in

such country, or transported through such country, from being sold

illegally within the jurisdiction of such country to United States

Government personnel or their dependents, or from entering the

United States unlawfully. Such instruction shall continue in effect

until the President determines, and so notifies the Secretary of

the Treasury, that the government of such country has taken

adequate steps to prevent such sale or entry of narcotic drugs and

other controlled substances.

-SOURCE-

(Pub. L. 86-147, Sec. 22, as added Pub. L. 92-246, Sec. 2, Mar. 10,

1972, 86 Stat. 60.)

-REFTEXT-

REFERENCES IN TEXT

The Comprehensive Drug Abuse Prevention and Control Act of 1970,

referred to in text, is Pub. L. 91-513, Oct. 27, 1970, 84 Stat.

1236, as amended, which is classified principally to chapter 13

(Sec. 801 et seq.) of Title 21, Food and Drugs. For complete

classification of this act to the Code, see Short Title note set

out under section 801 of Title 21 and Tables.

-End-

-CITE-

22 USC Sec. 283t 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283t. Authorization to vote on proposed resolutions

-STATUTE-

The United States Governor of the Bank is authorized to vote for

three proposed resolutions of the Board of Governors entitled (a)

"Amendments to the Agreement Establishing the Bank with respect to

the Creation of the Inter-Regional Capital Stock of the Bank and to

Related Matters", (b) "General Rules Governing Admission of

Nonregional Countries to Membership in the Bank", and (c) "Increase

in the Authorized Callable Ordinary Capital Stock and Subscriptions

Thereto in Connection with the Admission of Nonregional Member

Countries", which were submitted to the Board of Governors pursuant

to a resolution of the Board of Executive Directors approved on

March 4, 1975.

-SOURCE-

(Pub. L. 86-147, Sec. 23, as added Pub. L. 94-302, title I, Sec.

103(a)(1), May 31, 1976, 90 Stat. 592.)

-End-

-CITE-

22 USC Sec. 283u 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283u. Membership in the Bank for the Bahamas and Guyana

-STATUTE-

The United States Governor of the Bank is authorized to agree to

the amendments to article II, section 1(b) and article IV, section

3(b) of the Agreement Establishing the Bank, as proposed by the

Board of Executive Directors, to provide for membership for the

Bahamas and Guyana in the Bank at such times and in accordance with

such terms as the Bank may determine.

-SOURCE-

(Pub. L. 86-147, Sec. 24, as added Pub. L. 94-302, title I, Sec.

103(a)(1), May 31, 1976, 90 Stat. 592.)

-End-

-CITE-

22 USC Sec. 283v 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283v. Loans to the Caribbean Development Bank

-STATUTE-

The United States Governor of the Bank is authorized to agree to

the amendments to article III, sections 1, 4, and 6(b) of the

Agreement Establishing the Bank, as proposed by the Board of

Executive Directors, to provide for lending to the Caribbean

Development Bank.

-SOURCE-

(Pub. L. 86-147, Sec. 25, as added Pub. L. 94-302, title I, Sec.

103(a)(1), May 31, 1976, 90 Stat. 592.)

-End-

-CITE-

22 USC Sec. 283w 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283w. Increase in authorized capital stock of Bank and

increase in resources of Fund for Special Operations; United

States share; authorization of appropriations

-STATUTE-

(a) The United States Governor of the Bank is hereby authorized

to vote in favor of two resolutions proposed by the Governors at a

special meeting in July 1975, and now pending before the Board of

Governors of the Bank, which provide for (1) an increase in the

authorized capital stock of the Bank and additional subscriptions

of members thereto and (2) an increase in the resources of the Fund

for Special Operations and contributions thereto. Upon adoption of

such resolutions, the United States Governor is authorized to agree

on behalf of the United States (1) to subscribe to ninety-nine

thousand four hundred and seventy-four shares of $10,000 par value

of the increase in the authorized capital stock of the Bank of

which eighty-nine thousand five hundred and twenty-six shall be

callable shares and nine thousand nine hundred and forty-eight

shall be paid in and (2) to contribute to the Fund for Special

Operations $600,000,000, in accordance with and subject to the

terms and conditions of such resolutions.

(b) There are hereby authorized to be appropriated, without

fiscal year limitation, the amounts necessary for payment by the

Secretary of the Treasury of (1) $1,199,997,873 for the United

States subscription to the capital stock of the Bank and (2)

$600,000,000 for the United States share of the increase in the

resources of the Fund for Special Operations: Provided, however,

That not more than $15,677,000 may be made available to the Fund

for Special Operations for the fiscal year 1982.

-SOURCE-

(Pub. L. 86-147, Sec. 26, as added Pub. L. 94-302, title I, Sec.

101, May 31, 1976, 90 Stat. 591; amended Pub. L. 97-35, title XIII,

Sec. 1351(c), Aug. 13, 1981, 95 Stat. 744.)

-MISC1-

AMENDMENTS

1981 - Subsec. (b). Pub. L. 97-35 inserted provision limiting

amount of appropriations available for Fund for Special Operations

for fiscal year 1982.

EFFECTIVE DATE OF 1981 AMENDMENT

Amendment by Pub. L. 97-35 effective Aug. 13, 1981, except that

any funds authorized to be appropriated shall not be available for

use or obligation prior to Oct. 1, 1981, see section 1372 of Pub.

L. 97-35, set out as an Effective Date note under section 290i of

this title.

-End-

-CITE-

22 USC Sec. 283x 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283x. Subscription to additional shares; authorization of

appropriations

-STATUTE-

(a) The United States Governor of the Bank is hereby authorized

to vote for an additional increase of one hundred and eight

thousand shares of $10,000 par value in the authorized callable

capital stock of the Bank as recommended in the resolution of the

Board of Governors entitled "Increase of US$4 Billion in the

Authorized Capital Stock and Subscriptions Thereto." Upon adoption

of a Board of Governors resolution increasing the authorized

capital stock of the Bank by such amount, the United States

Governor is authorized to agree on behalf of the United States to

subscribe to thirty-seven thousand three hundred and three shares

of $10,000 par value of such additional increase in callable

capital in accordance with and subject to the terms and conditions

of such resolution.

(b) In order to pay for the increase in the United States

subscription to the Bank provided for in this section, there is

hereby authorized to be appropriated, without fiscal year

limitation, $450,002,218 for payment by the Secretary of the

Treasury.

-SOURCE-

(Pub. L. 86-147, Sec. 27, as added Pub. L. 94-302, title I, Sec.

101, May 31, 1976, 90 Stat. 591.)

-End-

-CITE-

22 USC Sec. 283y 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283y. Repealed. Pub. L. 95-118, title VII, Sec. 702, Oct. 3,

1977, 91 Stat. 1070

-MISC1-

Section, Pub. L. 86-147, Sec. 28, as added Pub. L. 94-302, title

I, Sec. 103(a)(1), May 31, 1976, 90 Stat. 592; H. Res. 5, Jan. 4,

1977, set forth provisions relating to United States participation

in financial assistance by Inter-American Development Bank to any

country engaging in a consistent pattern of gross violations of

internationally recognized human rights. See section 262d of this

title.

EFFECTIVE DATE OF REPEAL

Repeal effective Oct. 3, 1977, see section 1001 of Pub. L.

95-118, set out as an Effective Date note under section 282i of

this title.

-End-

-CITE-

22 USC Sec. 283z 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283z. Proposal of light-capital or intermediate technologies

as part of Bank's development strategy

-STATUTE-

(a) Contents of proposed resolution

The United States Executive Director of the Bank shall propose to

the Board of Executive Directors of the Bank the adoption of a

resolution providing (1) that the development and utilization of

light-capital or intermediate technologies should be accepted as

major facets of the Bank's development strategy, and (2) that such

light-capital or intermediate technologies should be developed and

utilized as soon as possible in all Bank activities. Such

resolution shall further provide that, by the close of the calendar

year 1977, some projects that employ primarily such light-capital

or intermediate technologies shall be designed and approved.

(b) Progress report to Congress

The United States Governor of the Bank shall report to the

Congress no later than six months after May 31, 1976, on the

proposal made under subsection (a) of this section, and no later

than twelve months after such date on the progress that has been

made with respect to such proposal.

-SOURCE-

(Pub. L. 86-147, Sec. 28, formerly Sec. 29, as added Pub. L.

94-302, title I, Sec. 104, May 31, 1976, 90 Stat. 593; renumbered

Sec. 28, Pub. L. 96-259, title I, Sec. 101(1), June 3, 1980, 94

Stat. 429.)

-MISC1-

PRIOR PROVISIONS

A prior section 28 of Pub. L. 86-147, as added by section

103(a)(1) of Pub. L. 94-302, was classified to section 283y of this

title prior to repeal by Pub. L. 95-118, title VII, Sec. 702, Oct.

3, 1977, 91 Stat. 1070.

-End-

-CITE-

22 USC Sec. 283z-1 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283z-1. Increase in authorized capital stock of Bank and

increase in resources of Fund for Special Operations

-STATUTE-

(a) United States share

The United States Governor of the Bank is authorized to vote for

two resolutions which were proposed by the Governors at a special

meeting in December 1978 and are pending before the Board of

Governors of the Bank. These resolutions provide for (1) an

increase in the authorized capital stock of the Bank and additional

subscriptions thereto, and (2) an increase in the resources of the

Fund for Special Operations and contributions thereto. Upon

adoption of these resolutions, the United States Governor is

authorized on behalf of the United States (A) to subscribe to two

hundred twenty-seven thousand eight hundred and ninety-six shares

of the increase in the authorized capital stock of the Bank, of

which two hundred ten thousand eight hundred and four shall be

callable and seventeen thousand and ninety-two shall be paid-in,

and (B) to contribute to the Fund for Special Operations

$630,000,000; except that any commitment to make such subscriptions

to paid-in and callable capital stock and to make such

contributions to the Fund for Special Operations shall be effective

only to such extent or in such amounts as are provided in advance

in appropriation Acts.

(b) Authorization of appropriations

In order to pay for the increase in the United States

subscription and contribution provided for in this section, there

are authorized to be appropriated, without fiscal year limitation,

for payment by the Secretary of the Treasury (1) $2,474,287,189 for

the United States subscription to the capital stock of the Bank,

and (2) $630,000,000 for the United States share of the increase in

the resources of the Fund for Special Operations: Provided,

however, That for contributions to the Fund for Special Operations,

not more than $175,000,000 may be made available for the fiscal

year 1982, and not more than $105,000,000 may be made available for

the fiscal year 1983.

For the purpose of keeping to a minimum the cost to the United

States, the Secretary of the Treasury -

(1) shall pay the United States contribution to the Fund for

Special Operations authorized by this section by letter of credit

in four annual installments; and

(2) shall take the steps necessary to obtain a certification

from the Bank that any undisbursed balances resulting from

drawdowns on such letter of credit will not exceed at any time

the United States share of expected disbursement requirements for

the following three-month period.

(d) Limitation of funds to members of Bank

None of the funds authorized to be appropriated by this section

may be used for any form of assistance to any country which is not

a member of the Bank.

-SOURCE-

(Pub. L. 86-147, Sec. 29, as added Pub. L. 96-259, title I, Sec.

101(2), June 3, 1980, 94 Stat. 429; amended Pub. L. 97-35, title

XIII, Sec. 1351(b), Aug. 13, 1981, 95 Stat. 744.)

-MISC1-

AMENDMENTS

1981 - Subsec. (b). Pub. L. 97-35 inserted provision limiting

amount of appropriations available for Fund for Special Operations

for fiscal years 1982 and 1983.

EFFECTIVE DATE OF 1981 AMENDMENT

Amendment by Pub. L. 97-35 effective Aug. 13, 1981, except that

any funds authorized to be appropriated shall not be available for

use or obligation prior to Oct. 1, 1981, see section 1372 of Pub.

L. 97-35, set out as an Effective Date note under section 290i of

this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 283z-2 of this title.

-End-

-CITE-

22 USC Sec. 283z-2 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283z-2. Contribution to Inter-American Development Bank;

authorization of appropriations

-STATUTE-

(a) The United States Governor of the Bank is authorized on

behalf of the United States to contribute to the Fund for Special

Operations $70,000,000: Provided, however, That any commitment to

make such contribution shall be made subject to obtaining the

necessary appropriations.

(b) In order to pay for a portion of the increase in the United

States subscription to the capital stock of the Bank provided for

in section 283z-1(a) of this title and for the United States

contribution to the Fund for Special Operations provided for in

this section, there are authorized to be appropriated, without

fiscal year limitation, for payment by the Secretary of the

Treasury, (1) $274,920,799 for the United States subscription, and

(2) $70,000,000 for the United States contribution to the Fund for

Special Operations: Provided, however, That no funds may be made

available for such contribution to the Fund for Special Operations

for the fiscal year 1982.

-SOURCE-

(Pub. L. 86-147, Sec. 30, as added Pub. L. 97-35, title XIII, Sec.

1351(a), Aug. 13, 1981, 95 Stat. 744.)

-MISC1-

EFFECTIVE DATE

Section effective Aug. 13, 1981, except that any funds authorized

to be appropriated shall not be available for use or obligation

prior to Oct. 1, 1981, see section 1372 of Pub. L. 97-35, set out

as a note under section 290i of this title.

-End-

-CITE-

22 USC Sec. 283z-3 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283z-3. Increase in authorized capital stock of Bank and

increases in resources of Fund for Special Operations; United

States share; authorization of appropriations

-STATUTE-

(a)(1) The United States Governor of the Bank is authorized to

vote for resolutions -

(A) which were proposed by the Governors at a special meeting

in February 1983;

(B) which are pending before the Board of Governors of the

Bank; and

(i) an increase in the authorized capital stock of the Bank

and subscriptions thereto; and

(ii) an increase in the resources of the Fund for Special

Operations and contributions thereto.

(2)(A) Upon adoption of the resolutions specified in paragraph

(1), the United States Governor of the Bank is authorized on behalf

of the United States to -

(i) subscribe to 427,396 shares of the increase in the

authorized capital stock of the Bank; and

(ii) contribute $350,000,000 to the Fund for Special

Operations.

(B) Any commitment to make such subscriptions to paid-in and

callable capital stock and to make such contributions to the Fund

for Special Operations shall be effective only to such extent or in

such amounts as are provided in advance in appropriation Acts.

(b) In order to pay for the increase in the United States

subscription and contribution provided for in this section, there

are authorized to be appropriated, without fiscal year limitation,

for payment by the Secretary of the Treasury -

(1) $5,155,862,744 for the United States subscriptions to the

capital stock of the Bank; and

(2) $350,000,000 for the United States share of the increase in

the resources of the Fund for Special Operations.

-SOURCE-

(Pub. L. 86-147, Sec. 31, as added Pub. L. 98-181, title X, Sec.

1001, Nov. 30, 1983, 97 Stat. 1284.)

-End-

-CITE-

22 USC Sec. 283z-4 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283z-4. Amendments to Articles of Agreement in resolution on

Merger of Interregional and Ordinary Capital Resources

-STATUTE-

The United States Governor of the Inter-American Development Bank

is hereby authorized to agree to and to accept the amendments to

the Articles of Agreement in the proposed resolution entitled

"Merger of Inter-regional and Ordinary Capital Resources".

-SOURCE-

(Pub. L. 86-147, Sec. 32, as added Pub. L. 100-202, Sec. 101(e)

[title I], Dec. 22, 1987, 101 Stat. 1329-131, 1329-134.)

-COD-

CODIFICATION

Section 32 of Pub. L. 86-147 is based on section 501 of title V

of H.R. 3750, One Hundredth Congress, as introduced Dec. 11, 1987,

and enacted into law by Pub. L. 100-202.

-End-

-CITE-

22 USC Sec. 283z-5 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283z-5. Capital increase; increase in resources of Fund for

Special Operations

-STATUTE-

(a) Authority to vote for, and to subscribe and contribute to,

increase in authorized capital stock of Bank and increase in

resources of Fund for Special Operations

(1) Vote authorized

The United States Governor of the Bank is authorized to vote

for resolutions which -

(A) were transmitted by the Board of Executive Directors to

the Governors of the Bank by resolution of April 19, 1989;

(B) are pending before the Board of Governors of the Bank;

and

(i) an increase in the authorized capital stock of the Bank

and subscriptions to the Bank; and

(ii) an increase in the resources of the Fund for Special

Operations and contributions to the Fund.

(2) Subscription and contribution authority

To the extent and in the amounts provided in advance in

appropriations Acts, on adoption of the resolutions described in

paragraph (1), the United States Governor of the Bank may, on

behalf of the United States -

(A) subscribe to 760,112 shares of the increase in the

authorized capital stock of the Bank; and

(B) contribute $82,304,000 to the Fund for Special

Operations.

(b) Limitation on authorization of appropriations

To pay for the subscription and contribution authorized under

subsection (a) of this section, there are authorized to be

appropriated, without fiscal year limitation, for payment by the

Secretary of the Treasury -

(1) $9,169,559,712, for the United States subscription to the

capital stock of the Bank; and

(2) $82,304,000, for the United States contribution to the Fund

for Special Operations.

subscription to capital stock and contribution to Fund for

Special Operations

The Secretary of the Treasury may not make any payment for the

subscription and contribution authorized under subsection (a) of

this section unless the Bank -

(1) has established an environmental unit with responsibility

for the development, evaluation, and integration of Bank

policies, projects, and programs designed to promote

environmentally sustainable development in borrower countries;

(2) has increased the number of the staff of the Bank with

environmentally oriented responsibilities and training;

(3) provides for an increase in the number of environmentally

beneficial projects and programs financed by the Bank; and

(4) has designed a process for ensuring the access of

indigenous non-governmental organizations to the process for

designing projects and programs.

(d) Certification of access to Bank records required before payment

for subscription to capital stock and contribution to Fund for

Special Operations

The Secretary of the Treasury shall not make any payment for the

subscription and contribution authorized under subsection (a) of

this section until the Secretary, after consultation with the

United States Executive Director of the Bank, certifies to the

Congress that -

(1) the Bank has given the Comptroller General of the United

States access to the audit memorandum issued by the Auditor

General of the Bank with respect to the November 1987

disbursement of funds to the Government of Nicaragua;

(2) the Bank has implemented and is continuing to implement

revised procedures issued in 1988 for collecting loan services

payments in arrears;

(3) the revised procedures referred to in paragraph (2) satisfy

the recommendations of the Auditor General of the Bank; and

(4) the Comptroller General of the United States has access to

all documents of the Bank on the same terms and under the same

conditions as such documents are made available to the United

States Executive Director of the Bank.

-SOURCE-

(Pub. L. 86-147, Sec. 33, as added Pub. L. 101-240, title II, Sec.

201, Dec. 19, 1989, 103 Stat. 2496.)

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 283z-7 of this title.

-End-

-CITE-

22 USC Sec. 283z-6 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283z-6. Investment in human capital

-STATUTE-

(a) In general

The Secretary of the Treasury shall instruct the United States

Executive Director of the Inter-American Development Bank to

propose and use the voice and vote of such director, during the

4-year period beginning on January 1, 1990, to vigorously promote

an increase in the proportion of Bank lending in support of

projects and programs which support investments in human capital

and to seek the rapid implementation by the Bank of systematic

mechanisms of consultation with locally affected populations in

borrower countries either directly or through appropriate

representative non-governmental organizations.

(b) "Investments in human capital" defined

As used in subsection (a) of this section, the term "investments

in human capital" means investments in projects, policies, and

programs designed to improve urban and rural health care and

sanitation, basic nutrition, education, the small-producer private

sector, the economic activities of women, and the development of

indigenous non-governmental organizations.

-SOURCE-

(Pub. L. 86-147, Sec. 34, as added Pub. L. 101-240, title II, Sec.

202(a), Dec. 19, 1989, 103 Stat. 2498.)

-MISC1-

REPORT TO CONGRESS

Section 202(b) of Pub. L. 101-240 provided that: "The Chairman of

the National Advisory Council on International Monetary and

Financial Policies shall include in the report required by section

1701 of the International Financial Institutions Act [22 U.S.C.

262r] for fiscal year 1991 a report on the efforts undertaken by

the United States Executive Director of the Inter-American

Development Bank, and the progress to date, in achieving the

objectives of section 34 of the Inter-American Development Bank Act

[22 U.S.C. 283z-6]."

-End-

-CITE-

22 USC Sec. 283z-7 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283z-7. Limitations on policy based lending

-STATUTE-

The Secretary of the Treasury shall -

(1) take all necessary steps to encourage the Bank to limit the

aggregate value of the policy based loans made by the Bank (other

than policy based loans made to any country which the Bank has

determined is economically less developed or has a limited market

economy, which are used to purchase sovereign debt of such

country or to reduce the debt or debt service burden of such

country) during the 4-year period beginning on January 1, 1990,

to 25 percent of the aggregate value of all loans made by the

Bank during such 4-year period;

(2) take all necessary steps to encourage the Bank to limit the

aggregate value of the policy based loans made by the Bank to the

government of a particular country during such 4-year period, to

50 percent of the aggregate value of all loans made by the Bank

to such government during such 4-year period;

(3) instruct the United States Executive Director of the Bank

to explore with the other Executive Directors of the Bank ways to

use a portion of the resources made available to the Bank by

reason of the subscription and contribution described in section

283z-5(a)(2) of this title for debt reduction and debt service

reduction for countries described in paragraph (1); and

(4) before the end of the 12-month period beginning on December

19, 1989, report to the Congress on the matters described in

paragraph (3).

-SOURCE-

(Pub. L. 86-147, Sec. 35, as added Pub. L. 101-240, title II, Sec.

203, Dec. 19, 1989, 103 Stat. 2498.)

-End-

-CITE-

22 USC Sec. 283z-8 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283z-8. Increase in lending to Caribbean

-STATUTE-

The Secretary of the Treasury shall instruct the United States

Executive Director of the Bank to enter into discussions with the

management of the Bank and with other member country governments to

seek to increase Bank lending to the Caribbean region, directly or

through appropriate financial intermediaries, for viable projects

which will -

(1) result in expanded regional economic integration,

diversification, and industrial and agricultural production, and

improved infrastructure; and

(2) seek to ensure equitable and environmentally sustainable

economic growth.

-SOURCE-

(Pub. L. 86-147, Sec. 36, as added Pub. L. 101-240, title II, Sec.

204, Dec. 19, 1989, 103 Stat. 2499.)

-End-

-CITE-

22 USC Sec. 283z-9 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283z-9. Multilateral Investment Fund

-STATUTE-

(a) Authorization of contribution

The Secretary of the Treasury is authorized to contribute, and to

make payment of, $500,000,000 to the Multilateral Investment Fund

established pursuant to the agreements of February 11, 1992:

Provided, That such funds shall only be disbursed from the Fund to

countries that have governments that are democratically

elected,(!1) that do not harbor or sponsor international

terrorists; that do not fail to cooperate in narcotics matters; and

that do not engage in a consistent pattern of gross violations of

internationally recognized human rights.

(b) Authorization of appropriations

There is hereby authorized to be appropriated without fiscal year

limitation $500,000,000 for the contribution authorized in

subsection (a) of this section.

If an Enterprise for the Americas Multilateral Investment Fund is

established pursuant to this section, the Secretary of the Treasury

shall instruct the United States representative to the Fund not to

vote in favor of any action proposed to be taken by the Fund which

may have a significant adverse effect on the environment unless an

assessment of the impact of the action on the environment has been

available for at least 120 days before the vote.

-SOURCE-

(Pub. L. 86-147, Sec. 37, as added Pub. L. 102-391, title V, Sec.

594(b), Oct. 6, 1992, 106 Stat. 1693.)

-FOOTNOTE-

(!1) So in original. The comma probably should be a semicolon.

-End-

-CITE-

22 USC Sec. 283z-10 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII - INTER-AMERICAN DEVELOPMENT BANK

-HEAD-

Sec. 283z-10. Focus on low-income areas of Latin America and

Caribbean

-STATUTE-

The Secretary of the Treasury shall direct the United States

Executive Director of the Bank to use the voice and vote of the

United States to support an increased focus on the poorest

countries in Latin America and the Caribbean, and on poorer areas

of better off countries, and to support programs conducted by the

Multilateral Investment Fund, particularly in targeting low-income

countries and populations, working with nongovernmental

organizations and training and assisting former combatants from

civil conflicts in Latin America.

-SOURCE-

(Pub. L. 86-147, Sec. 38, as added Pub. L. 103-306, title V, Sec.

526(f), Aug. 23, 1994, 108 Stat. 1634.)

-End-

-CITE-

22 USC SUBCHAPTER XII-A - INTER-AMERICAN INVESTMENT

CORPORATION 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII09A - INTER-AMERICAN INVESTMENT CORPORATION

-HEAD-

SUBCHAPTER XII-A - INTER-AMERICAN INVESTMENT CORPORATION

-End-

-CITE-

22 USC Sec. 283aa 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII09A - INTER-AMERICAN INVESTMENT CORPORATION

-HEAD-

Sec. 283aa. Acceptance of membership

-STATUTE-

The President is hereby authorized to accept membership for the

United States in the Inter-American Investment Corporation

(hereinafter in this subchapter referred to as the "Corporation")

provided for by the agreement establishing the Corporation

(hereinafter in this subchapter referred to as the "agreement")

deposited in the archives of the Inter-American Development Bank.

-SOURCE-

(Pub. L. 98-473, title I, Sec. 101(1) [title I], Oct. 12, 1984, 98

Stat. 1884, 1885.)

-COD-

CODIFICATION

Section is based on section 202 of title II of S. 2416,

Ninety-eighth Congress, as introduced Mar. 13, 1984, and enacted

into law by Pub. L. 98-473.

-MISC1-

SHORT TITLE

Section 201 of title II of S. 2416, as introduced in the Senate

Mar. 13, 1984, and as enacted into permanent law by section 101(1)

[title I] of Pub. L. 98-473, provided that: "This title [enacting

this subchapter and amending section 276c-2 of this title and

section 24 of Title 12, Banks and Banking] may be cited as the

'Inter-American Investment Corporation Act'."

-End-

-CITE-

22 USC Sec. 283bb 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII09A - INTER-AMERICAN INVESTMENT CORPORATION

-HEAD-

Sec. 283bb. Governor, Director, and alternates

-STATUTE-

The Governor and Executive Director of the Inter-American

Development Bank, and the alternate for each of them, appointed

under section 283a of this title, shall serve as Governor,

Director, and alternates, respectively, of the Corporation.

-SOURCE-

(Pub. L. 98-473, title I, Sec. 101(1) [title I], Oct. 12, 1984, 98

Stat. 1884, 1885.)

-COD-

CODIFICATION

Section is based on section 203 of title II of S. 2416,

Ninety-eighth Congress, as introduced Mar. 13, 1984, and enacted

into law by Pub. L. 98-473.

-End-

-CITE-

22 USC Sec. 283cc 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII09A - INTER-AMERICAN INVESTMENT CORPORATION

-HEAD-

Sec. 283cc. Applicability of Bretton Woods Agreements Act

-STATUTE-

The provisions of section 286b of this title shall apply with

respect to the Corporation to the same extent as with respect to

the International Bank for Reconstruction and Development and the

International Monetary Fund.

-SOURCE-

(Pub. L. 98-473, title I, Sec. 101(1) [title I], Oct. 12, 1984, 98

Stat. 1884, 1885; Pub. L. 101-240, title V, Sec. 541(e)(3), Dec.

19, 1989, 103 Stat. 2518.)

-COD-

CODIFICATION

Section is based on section 204 of title II of S. 2416,

Ninety-eighth Congress, as introduced Mar. 13, 1984, and enacted

into law by Pub. L. 98-473.

-MISC1-

AMENDMENTS

1989 - Pub. L. 101-240 struck out at end "Reports with respect to

the Corporation under paragraphs (5) and (6) of subsection (b) of

section 286b of this title shall be included in the first and

subsequent reports made thereunder after the United States accepts

membership in the Corporation."

-End-

-CITE-

22 USC Sec. 283dd 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII09A - INTER-AMERICAN INVESTMENT CORPORATION

-HEAD-

Sec. 283dd. Restrictions

-STATUTE-

(a) (!1) Unless authorized by law, neither the President nor any

person or agency shall, on behalf of the United States -

(1) subscribe to additional shares of stock of the Corporation;

(2) vote for or agree to any amendment of the agreement which

increases the obligations of the United States, or which changes

the purpose or functions of the Corporation; or

(3) make a loan or provide other financing to the Corporation.

-SOURCE-

(Pub. L. 98-473, title I, Sec. 101(1) [title I], Oct. 12, 1984, 98

Stat. 1884, 1885.)

-COD-

CODIFICATION

Section is based on section 205 of title II of S. 2416,

Ninety-eighth Congress, as introduced Mar. 13, 1984, and enacted

into law by Pub. L. 98-473.

-FOOTNOTE-

(!1) So in original. No subsec. (b) has been enacted.

-End-

-CITE-

22 USC Sec. 283ee 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII09A - INTER-AMERICAN INVESTMENT CORPORATION

-HEAD-

Sec. 283ee. Federal Reserve banks as depositories

-STATUTE-

Any Federal Reserve bank which is requested to do so by the

Corporation shall act as its depository or as its fiscal agent, and

the Board of Governors of the Federal Reserve System shall

supervise and direct the carrying out of these functions by the

Federal Reserve banks.

-SOURCE-

(Pub. L. 98-473, title I, Sec. 101(1) [title I], Oct. 12, 1984, 98

Stat. 1884, 1885.)

-COD-

CODIFICATION

Section is based on section 206 of title II of S. 2416,

Ninety-eighth Congress, as introduced Mar. 13, 1984, and enacted

into law by Pub. L. 98-473.

-End-

-CITE-

22 USC Sec. 283ff 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII09A - INTER-AMERICAN INVESTMENT CORPORATION

-HEAD-

Sec. 283ff. Subscription of stock

-STATUTE-

(a) Secretary of the Treasury as subscribing authority

The Secretary of the Treasury is authorized to subscribe on

behalf of the United States to five thousand one hundred shares of

the capital stock of the Corporation: Provided, however, That the

subscription shall be effective only to such extent or in such

amounts as are provided in advance in appropriations Acts.

(b) Authorization of appropriations

There is authorized to be appropriated, without fiscal year

limitation, for payment by the Secretary of the Treasury of the

subscription of the United States for those shares, $51,000,000.

Any payment of dividends made to the United States by the

Corporation shall be deposited into the Treasury as a miscellaneous

receipt.

-SOURCE-

(Pub. L. 98-473, title I, Sec. 101(1) [title I], Oct. 12, 1984, 98

Stat. 1884, 1885.)

-COD-

CODIFICATION

Section is based on section 207 of title II of S. 2416,

Ninety-eighth Congress, as introduced Mar. 13, 1984, and enacted

into law by Pub. L. 98-473.

-MISC1-

FIRST GENERAL CAPITAL INCREASE

Pub. L. 106-113, div. B, Sec. 1000(a)(2) [title V, Sec. 594],

Nov. 29, 1999, 113 Stat. 1535, 1501A-122, provided in part that the

Secretary of the Treasury may effect the United States

participation in the first general capital increase of the

Inter-American Investment Corporation, and authorized $125,180,000

to be appropriated without fiscal year limitation for payment by

the Secretary for paid-in capital of the Corporation.

-End-

-CITE-

22 USC Sec. 283gg 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII09A - INTER-AMERICAN INVESTMENT CORPORATION

-HEAD-

Sec. 283gg. Jurisdiction of United States courts

-STATUTE-

For the purposes of any civil action which may be brought within

the United States, its territories or possessions, or the

Commonwealth of Puerto Rico, by or against the Corporation in

accordance with the agreement, the Corporation shall be deemed to

be an inhabitant of the Federal judicial district in which its

principal office within the United States or its agent appointed

for the purpose of accepting service or notice of service is

located, and any such action to which the Corporation shall be a

party shall be deemed to arise under the laws of the United States,

and the district courts of the United States, including the courts

enumerated in section 460 of title 28, shall have original

jurisdiction of any such action. When the Corporation is a

defendant in any action in a State court, it may at any time before

the trial thereof remove the action into the appropriate district

court of the United States by following the procedure for removal

provided in section 1446 of title 28.

-SOURCE-

(Pub. L. 98-473, title I, Sec. 101(1) [title I], Oct. 12, 1984, 98

Stat. 1884, 1885.)

-COD-

CODIFICATION

Section is based on section 208 of title II of S. 2416,

Ninety-eighth Congress, as introduced Mar. 13, 1984, and enacted

into law by Pub. L. 98-473.

-End-

-CITE-

22 USC Sec. 283hh 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII09A - INTER-AMERICAN INVESTMENT CORPORATION

-HEAD-

Sec. 283hh. Effectiveness of agreement

-STATUTE-

Article VI, section 4(c), and article VII, sections 2 to 9, both

inclusive, of the agreement shall have full force and effect in the

United States, its territories and possessions, and the

Commonwealth of Puerto Rico, upon acceptance of membership by the

United States in the Corporation.

-SOURCE-

(Pub. L. 98-473, title I, Sec. 101(1) [title I], Oct. 12, 1984, 98

Stat. 1884, 1885.)

-COD-

CODIFICATION

Section is based on section 209 of title II of S. 2416,

Ninety-eighth Congress, as introduced Mar. 13, 1984, and enacted

into law by Pub. L. 98-473.

-End-

-CITE-

22 USC Sec. 283ii 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XII09A - INTER-AMERICAN INVESTMENT CORPORATION

-HEAD-

Sec. 283ii. Securities issued by the Corporation

-STATUTE-

(a) Exempted securities

Any securities issued by the Corporation (including any guarantee

by the Corporation, whether or not limited in scope) in connection

with the raising of funds for inclusion in the Corporation's

resources as defined in article II, section 2 of the agreement, and

any securities guaranteed by the Corporation as to both principal

and interest to which the commitment in article II, section 2(e) of

the agreement is expressly applicable, shall be deemed to be

exempted securities within the meaning of section 77c(a)(2) of

title 15 and section 78c(a)(12) of title 15. The Corporation shall

file with the Securities and Exchange Commission such annual and

other reports with regard to such securities as the Commission

shall determine to be appropriate in view of the special character

of the Corporation and its operations as necessary in the public

interest or for the protection of investors.

(b) Suspension by Securities and Exchange Commission

The Securities and Exchange Commission, acting in consultation

with such agency or officer as the President shall designate, is

authorized to suspend the provisions of subsection (a) of this

section at any time as to any or all securities issued or

guaranteed by the Corporation during the period of such suspension.

The Commission shall include in its annual reports to Congress such

information as it shall deem advisable with regard to the

operations and effect of this section and in connection therewith

shall include any views submitted for such purpose by any

association of dealers registered with the Commission.

-SOURCE-

(Pub. L. 98-473, title I, Sec. 101(1) [title I], Oct. 12, 1984, 98

Stat. 1884, 1885.)

-COD-

CODIFICATION

Section is based on section 210 of title II of S. 2416,

Ninety-eighth Congress, as introduced Mar. 13, 1984, and enacted

into law by Pub. L. 98-473.

-TRANS-

DELEGATION OF FUNCTIONS

Section 2 of Ex. Ord. No. 12567, Oct. 2, 1986, 51 F.R. 35495,

provided that: "The functions vested in the President by Section

210 of the Inter-American Investment Corporation Act [this section]

are hereby delegated to the Secretary of the Treasury."

-End-

-CITE-

22 USC SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT

ASSOCIATION 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-End-

-CITE-

22 USC Sec. 284 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284. Acceptance of membership by United States in

International Development Association

-STATUTE-

The President is hereby authorized to accept membership for the

United States in the International Development Association

(hereinafter referred to as the "Association"), provided for by the

Articles of Agreement (hereinafter referred to as the "Articles")

of the Association deposited in the archives of the International

Bank for Reconstruction and Development.

-SOURCE-

(Pub. L. 86-565, Sec. 2, June 30, 1960, 74 Stat. 293.)

-MISC1-

SHORT TITLE

Section 1 of Pub. L. 86-565 provided that: "This Act [enacting

this subchapter] may be cited as the 'International Development

Association Act'."

PAR VALUE MODIFICATION

For Congressional direction that the Secretary of the Treasury

maintain the value in terms of gold of the International

Development Association's holdings of United States dollars

following the establishment of a par value of the dollar at $38 for

a fine troy ounce of gold pursuant to the Par Value Modification

Act and for the authorization of the appropriations necessary to

provide such maintenance of value, see section 5152 of Title 31,

Money and Finance.

-End-

-CITE-

22 USC Sec. 284a 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284a. Governor, executive director, and alternates of

Association

-STATUTE-

The Governor and Executive Director of the International Bank for

Reconstruction and Development, and the alternate for each of them,

appointed under section 286a of this title, shall serve as

Governor, Executive Director and alternates, respectively, of the

Association.

-SOURCE-

(Pub. L. 86-565, Sec. 3, June 30, 1960, 74 Stat. 293.)

-End-

-CITE-

22 USC Sec. 284b 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284b. National Advisory Council on International Monetary and

Financial Problems

-STATUTE-

The provisions of section 286b of this title, shall apply with

respect to the Association to the same extent as with respect to

the International Bank for Reconstruction and Development and the

International Monetary Fund.

-SOURCE-

(Pub. L. 86-565, Sec. 4, June 30, 1960, 74 Stat. 294; Pub. L.

101-240, title V, Sec. 541(e)(4), Dec. 19, 1989, 103 Stat. 2518.)

-MISC1-

AMENDMENTS

1989 - Pub. L. 101-240 struck out at end "Reports with respect to

the Association under paragraphs (5) and (6) of subsection (b) of

section 286b of this title, shall be included in the first report

made thereunder after the establishment of the Association and in

each succeeding report."

-TRANS-

DELEGATION OF FUNCTIONS

Functions of National Advisory Council on International Monetary

and Financial Problems under this section delegated to National

Advisory Council on International Monetary and Financial Policies,

see section 2(a) of Ex. Ord. No. 11269, Feb. 14, 1966, 31 F.R.

2813, set out as a note under section 286b of this title.

-End-

-CITE-

22 USC Sec. 284c 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284c. Congressional authorization needed for certain actions

-STATUTE-

Unless Congress by law authorizes such action, neither the

President nor any person or agency shall, on behalf of the United

States, (a) subscribe to additional funds under article III,

section 1, of the articles; (b) accept any amendment under article

IX of the articles; or (c) make a loan or provide other financing

to the Association.

-SOURCE-

(Pub. L. 86-565, Sec. 5, June 30, 1960, 74 Stat. 294.)

-End-

-CITE-

22 USC Sec. 284d 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284d. Federal Reserve banks as depositories

-STATUTE-

Any Federal Reserve bank which is requested to do so by the

Association shall act as its depository or as its fiscal agent, and

the Board of Governors of the Federal Reserve System shall

supervise and direct the carrying out of these functions by the

Federal Reserve banks.

-SOURCE-

(Pub. L. 86-565, Sec. 6, June 30, 1960, 74 Stat. 294.)

-End-

-CITE-

22 USC Sec. 284e 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284e. Payment of subscription to Association by United States

-STATUTE-

(a) Authorization of appropriations for subscription

There is hereby authorized to be appropriated, without fiscal

year limitation, for the subscription of the United States to the

Association, $320,290,000.

(b) Increase in Association resources; contribution; authorization

of appropriations

The United States Governor is hereby authorized (1) to vote for

an increase in the resources of the Association and (2) to agree on

behalf of the United States to contribute to the Association the

sum of $312 million, both as recommended by the Executive

Directors, in a report dated September 9, 1963, to the Board of

Governors of the Association. There is hereby authorized to be

appropriated out of funds supplied by the Nation's taxpayers or out

of funds borrowed on their credit, without fiscal year limitations,

$312 million to provide the United States share of the increase in

the resources of the Association.

For the purpose of keeping to a minimum the cost to the United

States of participation in the Association, the Secretary of the

Treasury is authorized and directed to issue special notes of the

United States from time to time, at par, and to deliver such notes

to the Association in exchange for dollars to the extent permitted

by the articles. The special notes provided for in this subsection

shall be issued under the authority and subject to the provisions

of chapter 31 of title 31, and the purposes for which securities

may be issued under that chapter are extended to include the

purposes for which special notes are authorized and directed to be

issued under this subsection, but such notes shall bear no

interest, shall be nonnegotiable, and shall be payable on demand of

the Association. The face amount of special notes issued to the

Association under the authority of this subsection and outstanding

at any one time shall not exceed, in the aggregate, the amount

actually paid to the Association under the articles.

(d) Income covered into Treasury

Any payment made to the United States by the Association as a

distribution of net income shall be covered into the Treasury as a

miscellaneous receipt.

-SOURCE-

(Pub. L. 86-565, Sec. 7, June 30, 1960, 74 Stat. 294; Pub. L.

88-310, Secs. 1, 2, May 26, 1964, 78 Stat. 200.)

-COD-

CODIFICATION

In subsec. (c), "chapter 31 of title 31" and "that chapter"

substituted for "the Second Liberty Bond Act, as amended" and "that

Act", respectively, on authority of Pub. L. 97-258, Sec. 4(b),

Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted

Title 31, Money and Finance.

-MISC1-

AMENDMENTS

1964 - Subsecs. (b) to (d). Pub. L. 88-310 added subsec. (b),

redesignated former subsec. (b) as (c) and struck out ", after

paying the requisite part of the subscription of the United States

in the Association required to be made under the articles." after

"Secretary of the Treasury" in first sentence and "of the

subscription of the United States" after "amount" in third

sentence, respectively, and redesignated former subsec. (c) as (d).

-End-

-CITE-

22 USC Sec. 284f 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284f. Jurisdiction and venue of actions

-STATUTE-

For the purpose of any action which may be brought within the

United States, its possessions, or the Commonwealth of Puerto Rico,

by or against the Association in accordance with the articles, the

Association shall be deemed to be an inhabitant of the Federal

Judicial district in which its principal office in the United

States is located, and any such action at law or in equity to which

the Association shall be a party shall be deemed to arise under the

laws of the United States, and the district courts of the United

States shall have original jurisdiction of any such action. When

the Association is a defendant in any such action, it may, at any

time before the trial thereof, remove such action from a State

court into the district court of the United States for the proper

district by following the procedure for removal of causes otherwise

provided by law.

-SOURCE-

(Pub. L. 86-565, Sec. 8, June 30, 1960, 74 Stat. 294.)

-End-

-CITE-

22 USC Sec. 284g 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284g. Status, privileges, and immunities of the United States

-STATUTE-

The provisions of article VII, section 5(d), and article VIII

sections 2 to 9, both inclusive, of the articles shall have full

force and effect in the United States, its possessions, and the

Commonwealth of Puerto Rico, upon acceptance of membership by the

United States in, and the establishment of, the Association.

-SOURCE-

(Pub. L. 86-565, Sec. 9, June 30, 1960, 74 Stat. 295.)

-End-

-CITE-

22 USC Sec. 284h 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284h. Second replenishment; authorization of appropriations

-STATUTE-

The United States Governor is hereby authorized (1) to vote in

favor of the second replenishment resolutions providing for an

increase in the resources of the Association, and (2) to agree on

behalf of the United States to contribute to the Association the

sum of $480,000,000, as recommended by the Executive Directors in a

report dated March 8, 1968, to the Board of Governors of the

Association. There is hereby authorized to be appropriated, without

fiscal year limitation, $480,000,000 for payment by the Secretary

of the Treasury of the United States share of the increase in the

resources of the Association.

-SOURCE-

(Pub. L. 86-565, Sec. 10, as added Pub. L. 91-14, May 23, 1969, 83

Stat. 10.)

-End-

-CITE-

22 USC Sec. 284i 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284i. Third replenishment; authorization of appropriations

-STATUTE-

The United States Governor is hereby authorized to agree on

behalf of the United States to contribute to the Association three

annual installments of $320,000,000 each as recommended in the

"Report of the Executive Directors to the Board of Governors on

Additions to IDA Resources: Third Replenishment," dated July 21,

1970. There is hereby authorized to be appropriated, without fiscal

year limitation, the amounts necessary for payment by the Secretary

of the Treasury of three annual installments of $320,000,000 each

for the United States share of the increase in the resources of the

Association.

-SOURCE-

(Pub. L. 86-565, Sec. 11, as added Pub. L. 92-247, Sec. 1, Mar. 10,

1972, 86 Stat. 60.)

-End-

-CITE-

22 USC Sec. 284j 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284j. Expropriation of United States property; loan

restrictions

-STATUTE-

The President shall instruct the United States Executive

Directors of the International Bank for Reconstruction and

Development and the International Development Association to vote

against any loan or other utilization of the funds of the Bank and

the Association for the benefit of any country which has -

(1) nationalized or expropriated or seized ownership or control

of property owned by any United States citizen or by any

corporation, partnership, or association not less than 50 per

centum of which is beneficially owned by the United States

citizens;

(2) taken steps to repudiate or nullify existing contracts or

agreements with any United States citizen or any corporation,

partnership, or association not less than 50 per centum of which

is beneficially owned by United States citizens; or

(3) imposed or enforced discriminatory taxes or other

exactions, or restrictive maintenance or operational conditions,

or has taken other actions, which have the effect of

nationalizing, expropriating, or otherwise seizing ownership or

control of property so owned;

unless the President determines that (A) an arrangement for prompt,

adequate, and effective compensation has been made, (B) the parties

have submitted the dispute to arbitration under the rules of the

Convention for the Settlement of Investment Disputes, or (C) good

faith negotiations are in progress aimed at providing prompt,

adequate, and effective compensation under the applicable

principles of international law.

-SOURCE-

(Pub. L. 86-565, Sec. 12, as added Pub. L. 92-247, Sec. 1, Mar. 10,

1972, 86 Stat. 60.)

-End-

-CITE-

22 USC Sec. 284k 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284k. Illegal drug traffic; loan restrictions

-STATUTE-

The Secretary of the Treasury shall instruct the United States

Executive Directors of the International Bank for Reconstruction

and Development and the International Development Association to

vote against any loan or other utilization of the funds of the Bank

and the Association for the benefit of any country with respect to

which the President has made a determination, and so notified the

Secretary of the Treasury, that the government of such country has

failed to take adequate steps to prevent narcotic drugs and other

controlled substances (as defined by the Comprehensive Drug Abuse

Prevention and Control Act of 1970 [21 U.S.C. 801 et seq.])

produced or processed, in whole or in part, in such country, or

transported through such country, from being sold illegally within

the jurisdiction of such country to United States Government

personnel or their dependents, or from entering the United States

unlawfully. Such instruction shall continue in effect until the

President determines, and so notifies the Secretary of the

Treasury, that the government of such country has taken adequate

steps to prevent such sale or entry of narcotic drugs and other

controlled substances.

-SOURCE-

(Pub. L. 86-565, Sec. 13, as added Pub. L. 92-247, Sec. 2, Mar. 10,

1972, 86 Stat. 61.)

-REFTEXT-

REFERENCES IN TEXT

The Comprehensive Drug Abuse Prevention and Control Act of 1970,

referred to in text, is Pub. L. 91-513, Oct. 27, 1970, 84 Stat.

1236, as amended, which is classified principally to chapter 13

(Sec. 801 et seq.) of Title 21, Food and Drugs. For classification

of this Act to the Code, see Short Title note set out under section

801 of Title 21 and Tables.

-End-

-CITE-

22 USC Sec. 284l 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284g742l. Fourth replenishment; authorization of

appropriations

-STATUTE-

(a) The United States Governor is hereby authorized to agree on

behalf of the United States to pay to the Association four annual

installments of $375,000,000 each as the United States contribution

to the Fourth Replenishment of the Resources of the Association.

(b) In order to pay for the United States contribution, there is

hereby authorized to be appropriated without fiscal year limitation

four annual installments of $375,000,000 each for payment by the

Secretary of the Treasury.

-SOURCE-

(Pub. L. 86-565, Sec. 14, as added Pub. L. 93-373, Sec. 1, Aug. 14,

1974, 88 Stat. 445.)

-End-

-CITE-

22 USC Sec. 284m 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284m. Repealed. Pub. L. 95-118, title VII, Sec. 702, Oct. 3,

1977, 91 Stat. 1070

-MISC1-

Section, Pub. L. 86-565, Sec. 15, as added Pub. L. 93-373, Sec.

3, Aug. 14, 1974, 88 Stat. 445, set forth provisions relating to

United States participation in loans by the International

Development Association to any country developing any nuclear

explosive device. See section 262d of this title.

EFFECTIVE DATE OF REPEAL

Repeal effective Oct. 3, 1977, see section 1001 of Pub. L.

95-118, set out as an Effective Date note under section 282i of

this title.

-End-

-CITE-

22 USC Sec. 284n 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284n. Fifth replenishment; authorization of appropriations

-STATUTE-

(a) The United States Governor is authorized to agree on behalf

of the United States to pay to the Association $2,400,000,000 as

the United States contribution to the fifth replenishment of the

Resources of the Association: Provided, however, That any

commitment to make such contributions shall be made subject to

obtaining the necessary appropriations.

(b) In order to pay for the United States contribution provided

for in this section, there are authorized to be appropriated,

without fiscal year limitation, $2,400,000,000 for payment by the

Secretary of the Treasury.

-SOURCE-

(Pub. L. 86-565, Sec. 16, as added Pub. L. 95-118, title IV, Sec.

401, Oct. 3, 1977, 91 Stat. 1068.)

-MISC1-

EFFECTIVE DATE

Section effective Oct. 3, 1977, except that no funds authorized

to be appropriated by this section may be available for use or

obligation prior to Oct. 1, 1977, see section 1001 of Pub. L.

95-118, set out as a note under section 282i of this title.

-End-

-CITE-

22 USC Sec. 284o 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284g742o. Sixth replenishment; authorization of appropriations

-STATUTE-

(a) The United States Governor is authorized to agree on behalf

of the United States to pay to the Association $3,240,000,000 as

the United States contribution to the sixth replenishment of the

resources of the Association: Provided, however, That any

commitment to make such contributions shall be made subject to

obtaining the necessary appropriations.

(b) In order to pay for the United States contributions provided

for in this section, there is authorized to be appropriated,

without fiscal year limitation, $3,240,000,000 for payment by the

Secretary of the Treasury: Provided, however, That not more than

$850,000,000 of such sum may be made available for the fiscal year

1982 and not more than $945,000,000 of such sum may be made

available for the fiscal year 1983.

-SOURCE-

(Pub. L. 86-565, Sec. 17, as added Pub. L. 97-35, title XIII, Sec.

1321, Aug. 13, 1981, 95 Stat. 740.)

-MISC1-

EFFECTIVE DATE

Section effective Aug. 13, 1981, see section 1372 of Pub. L.

97-35, set out as a note under section 290i of this title.

-End-

-CITE-

22 USC Sec. 284p 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284p. Seventh replenishment; authorization of appropriations

-STATUTE-

(a) The United States Governor is hereby authorized to agree on

behalf of the United States to pay to the Association

$2,250,000,000 as the United States contribution to the seventh

replenishment of the resources of the Association, except that any

commitment to make such contributions shall be made subject to

obtaining the necessary appropriations.

(b) In order to pay for the United States contribution provided

for in subsection (a) of this section, there are authorized to be

appropriated, without fiscal year limitation, $2,250,000,000 for

payment by the Secretary of the Treasury.

-SOURCE-

(Pub. L. 86-565, Sec. 18, as added Pub. L. 98-473, title I, Sec.

101(1) [title I], Oct. 12, 1984, 98 Stat. 1884, 1885.)

-COD-

CODIFICATION

Section 18 of Pub. L. 86-565 is based on section 901 of S. 2582,

Ninety-eighth Congress, as reported Apr. 18, 1984, and enacted into

law by Pub. L. 98-473.

-MISC1-

CREDITS AVAILABLE TO SUB-SAHARAN AFRICA

Pub. L. 98-473, title I, Sec. 101(1) [title I], Oct. 12, 1984, 98

Stat. 1884, 1885, provided: "That the Secretary of the Treasury

shall instruct the United States Executive Director to undertake

negotiations to ensure, to the maximum extent possible consistent

with the effective use of resources, that the amount of development

credits made available to sub-Saharan Africa through the seventh

replenishment shall equal or exceed the amount of development

credits made available to sub-Saharan Africa through the sixth

replenishment."

-End-

-CITE-

22 USC Sec. 284q 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284q. Special Facility for Sub-Saharan Africa

-STATUTE-

(a) The Secretary of the Treasury shall pay to the Special

Facility for Sub-Saharan Africa, administered by the Association,

amounts appropriated pursuant to subsection (b) of this section.

(b) For purposes of the United States contribution provided for

in subsection (a) of this section, there are authorized to be

appropriated, without fiscal year limitation, $225,000,000.

-SOURCE-

(Pub. L. 86-565, Sec. 19, as added Pub. L. 99-190, Sec. 101(i)

[title I, (a)], Dec. 19, 1985, 99 Stat. 1291, 1294.)

-COD-

CODIFICATION

Section 19 of Pub. L. 86-565 is based on section 102 of title I

of H.R. 2253, Ninety-ninth Congress, as reported May 15, 1985, and

enacted into law by Pub. L. 99-190.

-MISC1-

CONGRESSIONAL FINDINGS

Section 101 of title I of H.R. 2253, as enacted into permanent

law by section 101(i) of Pub. L. 99-190, provided that: "The

Congress hereby finds that -

"(1) Sub-Saharan Africa faces a virtually unprecedented

condition of human misery which threatens the lives of one

hundred and fifty million people;

"(2) only the combined effort of both the African nations

themselves and international aid donors can overcome the

obstacles to economic development which have given rise to

conditions of famine, declining food production, infant

mortality, desertification, and deteriorating infrastructure;

"(3) international relief efforts have helped to address the

immediate crisis of starvation in Africa and the United States

has made important contributions to this effort both bilaterally

and through contributions to the multilateral development

institutions;

"(4) there is a serious shortfall in the external capital

resources necessary to support the policy reform efforts of the

African governments and to achieve the long-term development

necessary to avert a chronic state of crisis in Sub-Saharan

Africa;

"(5) the Special Facility for Sub-Saharan Africa will have as

its primary goal the implementation of policy reforms to help the

African countries to help themselves;

"(6) to succeed, these efforts must be reinforced by

development resources;

"(7) the appalling conditions prevalent in the countries of

Sub-Saharan Africa underscore the need for the United States to

participate in a coordinated framework with the other aid donor

countries; and

"(8) the Special Facility for Sub-Saharan Africa provides such

a framework and it is in the humanitarian, economic, and

strategic interests of the United States to participate."

-End-

-CITE-

22 USC Sec. 284r 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284r. Eighth replenishment; authorization of appropriations

-STATUTE-

(a) The United States Governor is hereby authorized to agree on

behalf of the United States to pay to the Association

$2,875,000,000 to the eighth replenishment of the resources of the

Association, except that any commitment to make such contributions

shall be made subject to obtaining the necessary appropriations.

(b) In order to pay for the United States contribution provided

for in subsection (a) of this section, there are authorized to be

appropriated, without fiscal year limitation, $2,875,000,000 for

payment by the Secretary of the Treasury.

-SOURCE-

(Pub. L. 86-565, Sec. 20, as added Pub. L. 100-202, Sec. 101(e)

[title I], Dec. 22, 1987, 101 Stat. 1329-131, 1329-134.)

-COD-

CODIFICATION

Section 20 of Pub. L. 86-565 is based on section 101 of title I

of H.R. 3750, One Hundredth Congress, as introduced Dec. 11, 1987,

and enacted into law by Pub. L. 100-202.

-End-

-CITE-

22 USC Sec. 284s 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIII - INTERNATIONAL DEVELOPMENT ASSOCIATION

-HEAD-

Sec. 284s. Ninth replenishment

-STATUTE-

(a) In general

The United States Governor is hereby authorized to agree on

behalf of the United States to pay to the Association

$3,180,000,000 to the ninth replenishment of the resources of the

Association, subject to obtaining the necessary appropriations.

(b) Limitations on authorization of appropriations

In order to pay for the United States contribution provided for

in subsection (a) of this section, there are authorized to be

appropriated, without fiscal year limitation, $3,180,000,000 for

payment by the Secretary of the Treasury.

-SOURCE-

(Pub. L. 86-565, Sec. 21, as added Pub. L. 101-513, title V, Sec.

562(a)(1), Nov. 5, 1990, 104 Stat. 2032.)

-MISC1-

SUBSEQUENT REPLENISHMENTS

Pub. L. 106-113, div. B, Sec. 1000(a)(2) [title V, Sec. 594],

Nov. 29, 1999, 113 Stat. 1535, 1501A-122, provided in part that the

Secretary of the Treasury may contribute on behalf of the United

States to the twelfth replenishment of the International

Development Association, and authorized $2,410,000,000 to be

appropriated without fiscal year limitation.

Pub. L. 105-118, title V, Sec. 560(a), Nov. 26, 1997, 111 Stat.

2425, provided in part that the Secretary of the Treasury may

contribute on behalf of the United States to the eleventh

replenishment of the resources of the International Development

Association, subject to obtaining the necessary appropriations, and

authorized $1,600,000,000 to be appropriated without fiscal year

limitation.

Pub. L. 103-87, title V, Sec. 526, Sept. 30, 1993, 107 Stat. 952,

provided in part that the Secretary of the Treasury is authorized

to agree on behalf of the United States to participate in the tenth

replenishment of the resources of the International Development

Association, subject to obtaining the necessary appropriations, and

pursuant to the tenth replenishment authorized $2,500,000,000 to be

appropriated.

-End-

-CITE-

22 USC SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-End-

-CITE-

22 USC Sec. 285 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285. Acceptance of membership by United States in Asian

Development Bank

-STATUTE-

The President is hereby authorized to accept membership for the

United States in the Asian Development Bank (hereinafter referred

to as the "Bank") provided for by the agreement establishing the

Bank (hereinafter referred to as the "agreement") deposited in the

archives of the United Nations.

-SOURCE-

(Pub. L. 89-369, Sec. 2, Mar. 16, 1966, 80 Stat. 71.)

-MISC1-

SHORT TITLE

Section 1 of Pub. L. 89-369 provided: "That this Act [enacting

this subchapter and amending section 24 of Title 12, Banks and

Banking] may be cited as the 'Asian Development Bank Act'."

PAR VALUE MODIFICATION

For Congressional direction that the Secretary of the Treasury

maintain the value in terms of gold of the Asian Development Bank's

holdings of United States dollars following the establishment of a

par value of the dollar at $38 for a fine troy ounce of gold

pursuant to the Par Value Modification Act and for the

authorization of the appropriations necessary to provide such

maintenance of value, see section 5152 of Title 31, Money and

Finance.

-End-

-CITE-

22 USC Sec. 285a 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285a. Appointment of Governor, Alternate Governor and

Director; compensation

-STATUTE-

(a) The President, by and with the advice and consent of the

Senate, shall appoint a Governor of the Bank, an alternate for the

Governor, and a Director of the Bank.

(b) No person shall be entitled to receive any salary or other

compensation from the United States for services as a Governor or

Alternate Governor. The Director may, in the discretion of the

President, receive such compensation, allowances, and other

benefits as, together with those received by him from the Bank,

will equal those authorized for a chief of mission under the

Foreign Service Act of 1980 [22 U.S.C. 3901 et seq.].

-SOURCE-

(Pub. L. 89-369, Sec. 3, Mar. 16, 1966, 80 Stat. 71; Pub. L.

96-465, title II, Sec. 2206(a)(1), Oct. 17, 1980, 94 Stat. 2160.)

-REFTEXT-

REFERENCES IN TEXT

The Foreign Service Act of 1980, referred to in subsec. (b), is

Pub. L. 96-465, Oct. 17, 1980, 94 Stat. 2071, as amended, which is

classified principally to chapter 52 (Sec. 3901 et seq.) of this

title. For complete classification of this Act to the Code, see

Short Title note set out under section 3901 of this title and

Tables.

-MISC1-

AMENDMENTS

1980 - Subsec. (b). Pub. L. 96-465 substituted "a chief of

mission under the Foreign Service Act of 1980" for "a Chief of

Mission, class 2, within the meaning of the Foreign Service Act of

1946, as amended".

EFFECTIVE DATE OF 1980 AMENDMENT

Amendment by Pub. L. 96-465 effective Feb. 15, 1981, except as

otherwise provided, see section 2403 of Pub. L. 96-465, set out as

an Effective Date note under section 3901 of this title.

-End-

-CITE-

22 USC Sec. 285b 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285b. Coordination of policies and operations

-STATUTE-

The policies and operations of the representatives of the United

States on the Bank shall be coordinated with other United States

policies in such manner as the President shall direct.

-SOURCE-

(Pub. L. 89-369, Sec. 4, Mar. 16, 1966, 80 Stat. 71; Pub. L.

101-240, title V, Sec. 541(d)(2), (f)(3), Dec. 19, 1989, 103 Stat.

2518, 2519.)

-MISC1-

AMENDMENTS

1989 - Pub. L. 101-240 struck out subsec. (a) designation and

struck out subsec. (b) which read as follows: "An annual report

with respect to United States participation in the Bank shall be

submitted to the Congress by such agency or officer as the

President shall designate."

-End-

-CITE-

22 USC Sec. 285c 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285c. Congressional authorization needed for certain actions

-STATUTE-

Unless the Congress by law authorizes such action, neither the

President nor any person or agency shall, on behalf of the United

States, (a) subscribe to additional shares of stock of the Bank;

(b) vote for or agree to any amendment of the agreement which

increases the obligations of the United States, or which would

change the purpose or functions of the Bank; or (c) make a loan or

provide other financing to the Bank, except that funds for

technical assistance note to exceed $1,000,000 in any one year may

be provided to the Bank by a United States agency created pursuant

to an Act of Congress which is authorized by law to provide funds

to international organizations.

-SOURCE-

(Pub. L. 89-369, Sec. 5, Mar. 16, 1966, 80 Stat. 72.)

-MISC1-

SUBSEQUENT REPLENISHMENTS

Pub. L. 105-118, title V, Sec. 560(a), Nov. 26, 1997, 111 Stat.

2425, provided in part that the Secretary of the Treasury may

contribute on behalf of the United States to the sixth

replenishment of the resources of the Asian Development Fund,

subject to obtaining the necessary appropriations, and authorized

$400,000,000 to be appropriated without fiscal year limitation.

Pub. L. 103-87, title V, Sec. 526, Sept. 30, 1993, 107 Stat. 952,

provided in part that the Secretary of the Treasury is authorized

to agree on behalf of the United States to participate in the fifth

replenishment of the Asian Development Fund, subject to obtaining

the necessary appropriations.

-End-

-CITE-

22 USC Sec. 285d 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285d. Federal Reserve banks as depositories

-STATUTE-

Any Federal Reserve bank which is requested to do so by the Bank

shall act as its depository or as its fiscal agent, and the Board

of Governors of the Federal Reserve System shall supervise and

direct the carrying out of these functions by the Federal Reserve

banks.

-SOURCE-

(Pub. L. 89-369, Sec. 6, Mar. 16, 1966, 80 Stat. 72.)

-End-

-CITE-

22 USC Sec. 285e 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285e. Authorization of appropriations; income covered into

Treasury

-STATUTE-

(a) There is hereby authorized to be appropriated, without fiscal

year limitation, for the purchase of twenty thousand shares of

capital stock of the Bank, $200,000,000.

(b) Any payment made to the United States by the Bank as a

distribution of net income shall be covered into the Treasury as a

miscellaneous receipt.

-SOURCE-

(Pub. L. 89-369, Sec. 7, Mar. 16, 1966, 80 Stat. 72.)

-End-

-CITE-

22 USC Sec. 285f 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285f. Jurisdiction and venue of actions

-STATUTE-

For the purpose of any civil action which may be brought within

the United States, its territories or possessions, or the

Commonwealth of Puerto Rico, by or against the Bank in accordance

with the agreement, the Bank shall be deemed to be an inhabitant of

the Federal judicial district in which its principal office or

agency in the United States is located, and any such action to

which the Bank shall be a party shall be deemed to arise under the

laws of the United States, and the district courts of the United

States, including the courts enumerated in section 460 of title 28,

shall have original jurisdiction of any such action. When the Bank

is a defendant in any action in a State court, it may, at any time

before the trial thereof, remove such action into the district

court of the United States for the proper district by following the

procedure for removal of causes otherwise provided by law.

-SOURCE-

(Pub. L. 89-369, Sec. 8, Mar. 16, 1966, 80 Stat. 72.)

-End-

-CITE-

22 USC Sec. 285g 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285g. Status, immunities, and privileges

-STATUTE-

The agreement, and particularly articles 49 through 56, shall

have full force and effect in the United States, its territories

and possessions, and the Commonwealth of Puerto Rico, upon

acceptance of membership by the United States in, and the

establishment of, the Bank. The President, at the time of deposit

of the instrument of acceptance of membership by the United States

in the Bank, shall also deposit a declaration that the United

States retains for itself and its political subdivisions the right

to tax salaries and emoluments paid by the Bank to its citizens or

nationals.

-SOURCE-

(Pub. L. 89-369, Sec. 9, Mar. 16, 1966, 80 Stat. 72.)

-End-

-CITE-

22 USC Sec. 285h 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285h. Securities issued by Bank as exempt securities;

suspension of exemption provisions; reports to and of Securities

and Exchange Commission

-STATUTE-

(a) Any securities issued by the Bank (including any guarantee by

the Bank, whether or not limited in scope) in connection with

raising of funds for inclusion in the Bank's ordinary capital

resources as defined in article 7 of the agreement and any

securities guaranteed by the Bank as to both principal and interest

to which the commitment in article 6, section 5, of the agreement

is expressly applicable, shall be deemed to be exempted securities

within the meaning of subsection (a)(2) of section 77c of title 15,

and subsection (a)(12) of section 78c of title 15. The Bank shall

file with the Securities and Exchange Commission such annual and

other reports with regard to such securities as the Commission

shall determine to be appropriate in view of the special character

of the Bank and its operations and necessary in the public interest

or for the protection of investors.

(b) The Securities and Exchange Commission, acting in

consultation with such agency or officer as the President shall

designate, is authorized to suspend the provisions of subsection

(a) of this section at any time as to any or all securities issued

or guaranteed by the Bank during the period of such suspension. The

Commission shall include in its annual reports to Congress such

information as it shall deem advisable with regard to the

operations and effect of this section and in connection therewith

shall include any views submitted for such purpose by any

association of dealers registered with the Commission.

-SOURCE-

(Pub. L. 89-369, Sec. 11, Mar. 16, 1966, 80 Stat. 73.)

-End-

-CITE-

22 USC Sec. 285i 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285i. Authorization for payment of United States contribution;

United States Special Resources

-STATUTE-

(a) Subject to the provisions of this subchapter, the United

States Governor of the Bank is authorized to enter into an

agreement with the Bank providing for a United States contribution

of $100,000,000 to the Bank in two annual installments of

$60,000,000 and $40,000,000, beginning in fiscal year 1972. This

contribution is referred to hereinafter in this subchapter as the

"United States Special Resources".

(b) The United States Special Resources shall be made available

to the Bank pursuant to the provisions of this subchapter and

article 19 of the Articles of Agreement of the Bank, and in a

manner consistent with the Bank's Special Funds Rules and

Regulations.

-SOURCE-

(Pub. L. 89-369, Sec. 12, as added Pub. L. 92-245, Sec. 1, Mar. 10,

1972, 86 Stat. 57.)

-End-

-CITE-

22 USC Sec. 285j 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285j. United States Special Resources

-STATUTE-

(a) Development projects and programs

The United States Special Resources shall be used to finance

specific high priority development projects and programs in

developing member countries of the Bank with emphasis on such

projects and programs in the Southeast Asia region.

(b) Authorized uses

The United States Special Resources shall be used by the Bank

only for -

(1) making development loans on terms which may be more

flexible and bear less heavily on the balance of payments than

those established by the Bank for its ordinary operations; and

(2) providing technical assistance credits on a reimbursable

basis.

(1) The United States Special Resources may be expended by the

Bank only for procurement in the United States of goods produced

in, or services supplied from the United States, except that the

United States Governor, in consultation with the National Advisory

Council on International Monetary and Financial Policies, may allow

eligibility for procurement in other member countries from the

United States Special Resources if he determines that such

procurement eligibility would materially improve the ability of the

Bank to carry out the objectives of its special funds resources and

would be compatible with the international financial position of

the United States.

(2) The United States Special Resources may be used to pay for

administrative expenses arising from the use of the United States

Special Resources, but only to the extent such expenses are not

covered from the Bank's service fee or income from use of United

States Special Resources.

(d) Repayment in dollars

All financing of programs and projects by the Bank from the

United States Special Resources shall be repayable to the Bank by

the borrowers in United States dollars.

-SOURCE-

(Pub. L. 89-369, Sec. 13, as added Pub. L. 92-245, Sec. 1, Mar. 10,

1972, 86 Stat. 57.)

-TRANS-

DELEGATION OF FUNCTIONS

Functions of National Advisory Council on International Monetary

and Financial Problems delegated to National Advisory Council on

International Monetary and Financial Policies, see section 2(a) of

Ex. Ord. No. 11269, Feb. 14, 1966, 31 F.R. 2813, set out as a note

under section 286b of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 285l of this title.

-End-

-CITE-

22 USC Sec. 285k 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285k. Utilization of United States Special Resources

-STATUTE-

(a) The letters of credit provided for in section 285l of this

title shall be issued to the Bank only to the extent that at the

time of issuance the cumulative amount of the United States Special

Resources provided to the Bank (A) constitute a minority of all

special funds contributions to the Bank, and (B) are no greater

than the largest cumulative contribution of any other single

country contributing to the special funds of the Bank.

(b) The United States Governor of the Bank shall give due regard

to the principles of (A) utilizing all special funds resources on

an equitable basis, and (B) significantly shared participation by

other contributors in each special fund to which United States

Special Resources are provided.

-SOURCE-

(Pub. L. 89-369, Sec. 14, as added Pub. L. 92-245, Sec. 1, Mar. 10,

1972, 86 Stat. 58.)

-End-

-CITE-

22 USC Sec. 285l 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285g742l. Letter of credit form for United States Special

Resources

-STATUTE-

The United States Special Resources will be provided to the Bank

in the form of a nonnegotiable, noninterest-bearing, letter of

credit which shall be payable to the Bank at par value on demand to

meet the cost of eligible goods and services, and administrative

costs authorized pursuant to section 285j(c) of this title.

-SOURCE-

(Pub. L. 89-369, Sec. 15, as added Pub. L. 92-245, Sec. 1, Mar. 10,

1972, 86 Stat. 58.)

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 285k of this title.

-End-

-CITE-

22 USC Sec. 285m 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285m. Withdrawal rights covering United States Special

Resources

-STATUTE-

The United States shall have the right to withdraw all or part of

the United States Special Resources and any accrued resources

derived therefrom under the procedures provided for in section 8.03

of the Special Funds Rules and Regulations of the Bank.

-SOURCE-

(Pub. L. 89-369, Sec. 16, as added Pub. L. 92-245, Sec. 1, Mar. 10,

1972, 86 Stat. 58.)

-End-

-CITE-

22 USC Sec. 285n 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285n. Authorization of appropriations to provide United States

Special Resources

-STATUTE-

For the purpose of providing United States Special Resources to

the Bank there is hereby authorized to be appropriated

$100,000,000, all of which shall remain available until expended.

-SOURCE-

(Pub. L. 89-369, Sec. 17, as added Pub. L. 92-245, Sec. 1, Mar. 10,

1972, 86 Stat. 58; amended Pub. L. 93-189, Sec. 28, Dec. 17, 1973,

87 Stat. 732.)

-MISC1-

AMENDMENTS

1973 - Pub. L. 93-189 substituted "$100,000,000" for "$60,000,000

for the fiscal year 1972 and $40,000,000 for the fiscal year 1973".

-End-

-CITE-

22 USC Sec. 285o 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285g742o. Expropriation of United States property; loan

restrictions

-STATUTE-

The President shall instruct the United States Executive Director

of the Asian Development Bank to vote against any loan or other

utilization of the funds of the Bank for the benefit of any country

which has -

(1) nationalized or expropriated or seized ownership or control

of property owned by any United States citizen or by any

corporation, partnership, or association not less than 50 per

centum of which is beneficially owned by United States citizens;

(2) taken steps to repudiate or nullify existing contracts or

agreements with any United States citizen or any corporation,

partnership, or association not less than 50 per centum of which

is beneficially owned by United States citizens; or

(3) imposed or enforced discriminatory taxes or other exaction,

or restrictive maintenance or operational conditions, or has

taken other actions, which have the effect of nationalizing,

expropriating, or otherwise seizing ownership or control of

property so owned;

unless the President determines that (A) an arrangement for prompt,

adequate, and effective compensation has been made, (B) the parties

have submitted the dispute to arbitration under the rules of the

Convention for the Settlement of Investment Disputes, or (C) good

faith negotiations are in progress aimed at providing prompt,

adequate, and effective compensation under the applicable

principles of international law.

-SOURCE-

(Pub. L. 89-369, Sec. 18, as added Pub. L. 92-245, Sec. 1, Mar. 10,

1972, 86 Stat. 58.)

-End-

-CITE-

22 USC Sec. 285p 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285p. Illegal drug traffic; loan restrictions

-STATUTE-

The Secretary of the Treasury shall instruct the United States

Executive Director of the Asian Development Bank to vote against

any loan or other utilization of the funds of the Bank for the

benefit of any country with respect to which the President has made

a determination, and so notified the Secretary of the Treasury,

that the government of such country has failed to take adequate

steps to prevent narcotic drugs and other controlled substances (as

defined by the Comprehensive Drug Abuse Prevention and Control Act

of 1970 [21 U.S.C. 801 et seq.]) produced or processed, in whole or

in part, in such country, or transported through such country, from

being sold illegally within the jurisdiction of such country to

United States Government personnel or their dependents, or from

entering the United States unlawfully. Such instruction shall

continue in effect until the President determines, and so notifies

the Secretary of the Treasury, that the government of such country

has taken adequate steps to prevent such sale or entry of narcotic

drugs and other controlled substances.

-SOURCE-

(Pub. L. 89-369, Sec. 19, as added Pub. L. 92-245, Sec. 2, Mar. 10,

1972, 86 Stat. 58.)

-REFTEXT-

REFERENCES IN TEXT

The Comprehensive Drug Abuse Prevention and Control Act of 1970,

referred to in text, is Pub. L. 91-513, Oct. 27, 1970, 84 Stat.

1236, as amended, which is classified principally to chapter 13

(Sec. 801 et seq.) of Title 21, Food and Drugs. For complete

classification of this Act to the Code, see Short Title note set

out under section 801 of Title 21 and Tables.

-End-

-CITE-

22 USC Sec. 285q 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285q. Subscription to additional shares; authorization of

appropriations

-STATUTE-

(a) The United States Governor of the Bank is authorized to

subscribe on behalf of the United States to thirty thousand

additional shares of the capital stock of the Bank in accordance

with and subject to the terms and conditions of Resolution Numbered

46 adopted by the Bank's Board of Governors on November 30, 1971.

(b) In order to pay for the increase in the United States

subscription to the Bank provided for in this section, there is

hereby authorized to be appropriated without fiscal year limitation

$361,904,726 for payment by the Secretary of the Treasury.

-SOURCE-

(Pub. L. 89-369, Sec. 20, as added Pub. L. 93-537, Dec. 22, 1974,

88 Stat. 1735.)

-End-

-CITE-

22 USC Sec. 285r 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285r. Contribution to special funds; authorization of

appropriations

-STATUTE-

(a) The United States Governor of the Bank is hereby authorized

to agree to contribute on behalf of the United States $50,000,000

to the special funds of the Bank. This contribution shall be made

available to the Bank pursuant to the provisions of article 19 of

the articles of agreement of the Bank.

(b) In order to pay for the United States contribution to the

special funds, there is hereby authorized to be appropriated

without fiscal year limitation $50,000,000 for payment by the

Secretary of the Treasury.

-SOURCE-

(Pub. L. 89-369, Sec. 21, as added Pub. L. 93-537, Dec. 22, 1974,

88 Stat. 1735.)

-End-

-CITE-

22 USC Sec. 285s 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285s. Additional subscription to shares; authorization of

appropriations

-STATUTE-

(a) The United States Governor of the Bank is authorized to

subscribe on behalf of the United States to sixty-seven thousand

and five hundred additional shares of the capital stock of the

Bank: Provided, however, That any subscription to additional shares

shall be effective only to such extent or in such amounts as are

provided in advance in appropriation Acts.

(b) In order to pay for the increase in the United States

subscription to the Bank provided for in this section, there are

authorized to be appropriated without fiscal year limitation

$814,286,250 for payment by the Secretary of the Treasury.

-SOURCE-

(Pub. L. 89-369, Sec. 22, as added Pub. L. 95-118, title V, Sec.

501, Oct. 3, 1977, 91 Stat. 1068; amended Pub. L. 97-35, title

XIII, Sec. 1353, Aug. 13, 1981, 95 Stat. 745.)

-MISC1-

AMENDMENTS

1981 - Subsec. (a). Pub. L. 97-35 substituted "effective only to

such extent or in such amounts as are provided in advance in

appropriation Acts" for "made only after the amount required for

such subscription has been appropriated".

EFFECTIVE DATE OF 1981 AMENDMENT

Amendment by Pub. L. 97-35 effective Aug. 13, 1981, except that

any funds authorized to be appropriated shall not be available for

use or obligation prior to Oct. 1, 1981, see section 1372 of Pub.

L. 97-35, set out as an Effective Date note under section 290i of

this title.

EFFECTIVE DATE

Section effective Oct. 3, 1977, except that no funds authorized

to be appropriated by this section may be available for use or

obligation prior to Oct. 1, 1977, see section 1001 of Pub. L.

95-118, set out as a note under section 282i of this title.

-End-

-CITE-

22 USC Sec. 285t 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285t. Additional contribution to special funds; authorization

of appropriations

-STATUTE-

(a) The United States Governor of the Bank is authorized to

contribute on behalf of the United States $180,000,000 to the Asian

Development Fund, a special fund of the Bank: Provided, however,

That any commitment to make such contribution shall be made subject

to obtaining the necessary appropriations.

(b) In order to pay for the United States contribution to the

Asian Development Fund provided for in this section, there are

authorized to be appropriated without fiscal year limitation

$180,000,000 for payment by the Secretary of the Treasury:

Provided, however, That not more than $14,116,177 may be made

available for such contribution for the fiscal year 1982.

-SOURCE-

(Pub. L. 89-369, Sec. 23, as added Pub. L. 95-118, title V, Sec.

501, Oct. 3, 1977, 91 Stat. 1069; amended Pub. L. 97-35, title

XIII, Sec. 1352(c), Aug. 13, 1981, 95 Stat. 745.)

-MISC1-

AMENDMENTS

1981 - Subsec. (b). Pub. L. 97-35 inserted provision limiting

amount of appropriations available for contributions for fiscal

year 1982.

EFFECTIVE DATE OF 1981 AMENDMENT

Amendment by Pub. L. 97-35 effective Aug. 13, 1981, except that

any funds authorized to be appropriated shall not be available for

use or obligation prior to Oct. 1, 1981, see section 1372 of Pub.

L. 97-35, set out as an Effective Date note under section 290i of

this title.

EFFECTIVE DATE

Section effective Oct. 3, 1977, except that no funds authorized

to be appropriated by this section may be available for use or

obligation prior to Oct. 1, 1977, see section 1001 of Pub. L.

95-118, set out as a note under section 282i of this title.

-End-

-CITE-

22 USC Sec. 285u 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285u. Additional contribution to special funds

-STATUTE-

(a) United States share

The United States Governor of the Bank is authorized to

contribute on behalf of the United States $378,250,000 to the Asian

Development Fund, a special fund of the Bank, except that any

commitment to make such contribution shall be made subject to

obtaining the necessary appropriations.

(b) Authorization of appropriations; maximum available for certain

years

In order to pay for the United States contribution to the Asian

Development Fund provided for in this section, there are authorized

to be appropriated, without fiscal year limitation, $378,250,000

for payment by the Secretary of the Treasury: Provided, however,

That not more than $111,250,000 of such sum may be made available

for the fiscal year 1982, and not more than $44,500,000 of such sum

may be made available for the fiscal year 1983.

For the purpose of keeping to a minimum the cost to the United

States, the Secretary of the Treasury -

(1) shall pay the United States contribution to the Asian

Development Fund authorized by this section by letter of credit

in four annual installments; and

(2) shall take the steps necessary to obtain a certification

from the Bank that any undisbursed balances resulting from

drawdowns on such letter of credit will not exceed at any time

the United States share of expected disbursement requirements for

the following three-month period.

-SOURCE-

(Pub. L. 89-369, Sec. 24, as added Pub. L. 96-259, title II, Sec.

201, June 3, 1980, 94 Stat. 430; amended Pub. L. 97-35, title XIII,

Sec. 1352(b), Aug. 13, 1981, 95 Stat. 744.)

-MISC1-

AMENDMENTS

1981 - Subsec. (b). Pub. L. 97-35 inserted provision limiting

amount of appropriations for fiscal years 1982 and 1983.

EFFECTIVE DATE OF 1981 AMENDMENT

Amendment by Pub. L. 97-35 effective Aug. 13, 1981, except that

any funds authorized to be appropriated shall not be available for

use or obligation prior to Oct. 1, 1981, see section 1372 of Pub.

L. 97-35, set out as an Effective Date note under section 290i of

this title.

-End-

-CITE-

22 USC Sec. 285v 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285v. Sense of Congress respecting membership of Taiwan in

Bank

-STATUTE-

It is the sense of the Congress that it is the policy of the

United States that Taiwan (before January 1, 1979, known as the

Republic of China) shall be permitted to retain membership in the

Asian Development Bank and that the United States Executive

Director of the Bank shall notify the Bank that a serious review of

future United States participation, including any future payments

to the Asian Development Fund, would ensue if Taiwan were expelled

from the Bank.

-SOURCE-

(Pub. L. 89-369, Sec. 25, as added Pub. L. 96-259, title II, Sec.

201, June 3, 1980, 94 Stat. 430.)

-End-

-CITE-

22 USC Sec. 285w 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285w. Contribution to Asian Development Fund; authorization of

appropriations

-STATUTE-

(a) The United States Governor of the Bank is authorized to

contribute on behalf of the United States $66,750,000 to the Asian

Development Fund, a special fund of the Bank: Provided, however,

That any commitment to make such contribution shall be made subject

to obtaining the necessary appropriations.

(b) In order to pay for the United States contribution to the

Asian Development Fund provided for in this section, there is

authorized to be appropriated, without fiscal year limitation,

$66,750,000 for payment by the Secretary of the Treasury: Provided,

however, That no funds may be made available for such contribution

for the fiscal year 1982.

-SOURCE-

(Pub. L. 89-369, Sec. 26, as added Pub. L. 97-35, title XIII, Sec.

1352(a), Aug. 13, 1981, 95 Stat. 744.)

-MISC1-

EFFECTIVE DATE

Section effective Aug. 13, 1981, except that any funds authorized

to be appropriated shall not be available for use or obligation

prior to Oct. 1, 1981, see section 1372 of Pub. L. 97-35, set out

as a note under section 290i of this title.

-End-

-CITE-

22 USC Sec. 285x 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285x. Additional subscription to shares

-STATUTE-

(a) United States share

(1) The United States Governor of the Bank is authorized to

subscribe on behalf of the United States to one hundred

twenty-three thousand three hundred and seventy-five additional

shares of the capital stock of the Bank.

(2) Any subscription to the capital stock of the Bank shall be

effective only to such extent or in such amounts as are provided in

advance in appropriation Acts.

(b) Authorization of appropriations

In order to pay for the increase in the United States

subscription to the Bank provided for in subsection (a) of this

section, there are authorized to be appropriated, without fiscal

year limitation, $1,322,999,476 for payment by the Secretary of the

Treasury.

(1) The Congress hereby finds that -

(A) the Republic of China (Taiwan) is a charter member in good

standing of the Asian Development Bank;

(B) the Republic of China has grown from a borrower to a lender

in the Asian Development Bank; and

success, a model for other nations in Asia.

(2) It is the sense of the Congress that -

(A) Taiwan, Republic of China, should remain a full member of

the Asian Development Bank, and that its status within that body

should remain unaltered no matter how the issue of the People's

Republic of China's application for membership is disposed of;

(B) the President and the Secretary of State should express

support of Taiwan, Republic of China, making it clear that the

United States will not countenance attempts to expel Taiwan,

Republic of China, from the Asian Development Bank; and

transmit a copy of this resolution to the President with the

request that he transmit such copy to the Board of Governors of

the Asian Development Bank.

-SOURCE-

(Pub. L. 89-369, Sec. 27, as added Pub. L. 98-181, title X, Sec.

1002, Nov. 30, 1983, 97 Stat. 1285.)

-End-

-CITE-

22 USC Sec. 285y 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285y. Additional contribution to special funds; authorization

of appropriations

-STATUTE-

(a)(1) The United States Governor of the Bank is authorized to

contribute on behalf of the United States $520,000,000 to the Asian

Development Fund, a special fund of the Bank.

(2) Any commitment to make the contribution authorized in

paragraph (1) shall be made subject to obtaining the necessary

appropriations.

(b) In order to pay for the United States contribution to the

Asian Development Fund provided for in this section, there are

authorized to be appropriated, without fiscal year limitation,

$520,000,000 for payment by the Secretary of the Treasury.

-SOURCE-

(Pub. L. 89-369, Sec. 28, as added Pub. L. 98-181, title X, Sec.

1002, Nov. 30, 1983, 97 Stat. 1286.)

-End-

-CITE-

22 USC Sec. 285z 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285z. Additional contribution to special funds; authorization

of appropriations

-STATUTE-

(a) The United States Governor of the Bank is authorized to

contribute on behalf of the United States $584,280,000 to the Asian

Development Fund, a special Fund of the Bank, except that any

commitment to make such contributions shall be made subject to

obtaining the necessary appropriations.

(b) In order to pay for the United States contribution provided

for in subsection (a) of this section, there are authorized to be

appropriated, without fiscal year limitation, $584,280,000 for

payment by the Secretary of the Treasury.

-SOURCE-

(Pub. L. 89-369, Sec. 29, as added Pub. L. 100-202, Sec. 101(e)

[title I], Dec. 22, 1987, 101 Stat. 1329-131, 1329-134.)

-COD-

CODIFICATION

Section 29 of Pub. L. 89-369 is based on section 201 of title II

of H.R. 3750, One Hundredth Congress, as introduced Dec. 11, 1987,

and enacted into law by Pub. L. 100-202.

-End-

-CITE-

22 USC Sec. 285aa 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XIV - ASIAN DEVELOPMENT BANK

-HEAD-

Sec. 285aa. Capital increase

-STATUTE-

(a) Subscription authorized

(1) The United States Governor of the Bank may subscribe on

behalf of the United States to 35,230 additional shares of the

capital stock of the Bank. (2) Any subscription by the United

States to the capital stock of the Bank shall be effective only to

such extent or in such amounts as are provided in advance in

appropriations Acts.

(b) Limitations on authorization of appropriations

In order to pay for the increase in the United States

subscription to the Bank provided for in subsection (a) of this

section, there are authorized to be appropriated, without fiscal

year limitation, $213,000,000 for payment by the Secretary of the

Treasury.

-SOURCE-

(Pub. L. 89-369, Sec. 30, as added Pub. L. 102-145, Sec. 125(b), as

added Pub. L. 102-266, Sec. 102, Apr. 1, 1992, 106 Stat. 97.)

-End-

-CITE-

22 USC SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND

BANK FOR RECONSTRUCTION AND

DEVELOPMENT 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-SECREF-

SUBCHAPTER REFERRED TO IN OTHER SECTIONS

This subchapter is referred to in sections 286q, 290k-5, 290l-2,

290o-2 of this title.

-End-

-CITE-

22 USC Sec. 286 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286. Acceptance of membership by United States in

International Monetary Fund

-STATUTE-

The President is hereby authorized to accept membership for the

United States in the International Monetary Fund (hereinafter

referred to as the "Fund"), and in the International Bank for

Reconstruction and Development (hereinafter referred to as the

"Bank"), provided for by the Articles of Agreement of the Fund and

the Articles of Agreement of the Bank as set forth in the Final Act

of the United Nations Monetary and Financial Conference dated July

22, 1944, and deposited in the archives of the Department of State.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 2, 59 Stat. 512.)

-MISC1-

SHORT TITLE OF 1968 AMENDMENT

Pub. L. 90-349, June 19, 1968, 82 Stat. 188 [enacting sections

286n to 286r of this title and amending sections 412, 415, 417, and

467 of Title 12, Banks and Banking], is known as the "Special

Drawing Rights Act". For complete classification of this Act to the

Code, see Short Title note set out under section 286n of this title

and Tables.

SHORT TITLE

Section 1 of act July 31, 1945, provided: "This act [enacting

this subchapter and amending section 822a of former Title 31, Money

and Finance] may be cited as the 'Bretton Woods Agreements Act'."

PAR VALUE MODIFICATION

For Congressional direction that the Secretary of the Treasury

maintain the value in terms of gold of the holdings in United

States dollars of the International Monetary Fund and of the

International Bank for Reconstruction and Development following the

establishment of a par value of the dollar at $38 for a fine troy

ounce of gold pursuant to the Par Value Modification Act and for

the authorization of the appropriation necessary to provide such

maintenance of value, see section 5152 of Title 31, Money and

Finance.

-End-

-CITE-

22 USC Sec. 286a 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286a. Appointments

-STATUTE-

(a) Governors and executive directors; term of office

The President, by and with the advice and consent of the Senate,

shall appoint a governor of the Fund who shall also serve as a

governor of the Bank, and an executive director of the Fund and an

executive director of the Bank. The executive directors so

appointed shall also serve as provisional executive directors of

the Fund and the Bank for the purposes of the respective Articles

of Agreement. The term of office for the governor of the Fund and

of the Bank shall be five years. The term of office for the

executive directors shall be two years, but the executive directors

shall remain in office until their successors have been appointed.

(b) Alternates; term of office

The President, by and with the advice and consent of the Senate,

shall appoint an alternate for the governor of the Fund and an

alternate for the governor of the Bank. The President, by and with

the advice and consent of the Senate, shall appoint an alternate

for each of the executive directors. The alternate for each

executive director shall be appointed from among individuals

recommended to the President by the executive director. The terms

of office for alternates for the governor and the executive

directors shall be the same as the terms specified in subsection

(a) of this section for the governor and executive directors.

Should the provisions of Schedule D of the Articles of Agreement

of the Fund apply, the Governor of the Fund shall also serve as

councillor, shall designate an alternate for the councillor, and

may designate associates.

(d) Compensation for services

(1) No person shall be entitled to receive any salary or other

compensation from the United States for services as a Governor,

executive director, councillor, alternate, or associate.

(2) The United States executive director of the Fund shall not be

compensated by the Fund at a rate in excess of the rate provided

for an individual occupying a position at level IV of the Executive

Schedule under section 5315 of title 5. The United States alternate

executive director of the Fund shall not be compensated by the Fund

at a rate in excess of the rate provided for an individual

occupying a position at level V of the Executive Schedule under

section 5316 of title 5.

(3) The Secretary of the Treasury shall instruct the United

States executive director of the Fund to present to the Fund's

Executive Board a comprehensive set of proposals, consistent with

maintaining high levels of competence of Fund personnel and

consistent with the Articles of Agreement, with the objective of

assuring that salaries and other compensation accorded Fund

employees do not exceed those received by persons filling similar

levels of responsibility within national government service or

private industry. The Secretary shall report these proposals

together with any measures adopted by the Fund's Executive Board to

the Congress prior to February 1, 1979.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 3, 59 Stat. 512; Pub. L. 93-94, Aug.

15, 1973, 87 Stat. 314; Pub. L. 94-564, Sec. 2, Oct. 19, 1976, 90

Stat. 2660; Pub. L. 95-435, Sec. 2, Oct. 10, 1978, 92 Stat. 1051.)

-MISC1-

AMENDMENTS

1978 - Subsec. (d). Pub. L. 95-435 designated existing provisions

as par. (1) and added pars. (2) and (3).

1976 - Subsec. (c). Pub. L. 94-564, Sec. 2(1), amended subsec.

designate an alternate and associates. Former provisions relating

to compensation were included in subsec. (d).

Subsec. (d). Pub. L. 94-564, Sec. 2(2), added subsec. (d).

1973 - Subsec. (b). Pub. L. 93-94 substituted "and an alternate

for the governor of the Bank" for "who shall also serve as

alternate for the governor of the Bank".

EFFECTIVE DATE OF 1976 AMENDMENT

Section 9 of Pub. L. 94-564 provided that: "The amendments made

by sections 2, 3, 4, 5, 6, and 7 of this Act [amending this

section, sections 286c, 286e-2, 286o, 286q, and 286r of this title,

and section 822a of former Title 31, Money and Finance] shall

become effective upon the entry into force of the amendments to the

Articles of Agreement of the International Monetary Fund approved

in Resolution Numbered 31-4 of the Board of Governors of the Fund."

Such amendments entered into force Apr. 1, 1978.

LEVELS OF FUND SALARIES AND MINIMIZATION OF TRAVEL COSTS

Pub. L. 96-389, Sec. 9, Oct. 7, 1980, 94 Stat. 1554, provided

that: "The United States Executive Director to the Fund shall seek

to insure (a) that Fund salaries do not exceed those levels

endorsed by the Fund Bank Joint Committee on Staff Compensation

Issues; and (b) that travel costs are minimized by limiting first

class and supersonic travel to instances where no reasonable

alternative exists."

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 282a, 284a, 290k-1,

290o-1 of this title.

-End-

-CITE-

22 USC Sec. 286b 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286b. National Advisory Council on International Monetary and

Financial Problems

-STATUTE-

(a) Establishment and composition

In order to coordinate the policies and operations of the

representatives of the United States on the Fund and the Bank and

of all agencies of the Government which make or participate in

making foreign loans or which engage in foreign financial, exchange

or monetary transactions, there is hereby established the National

Advisory Council on International Monetary and Financial Problems

(hereinafter referred to as the "Council"), consisting of the

Secretary of the Treasury, as Chairman, the Secretary of State, the

Secretary of Commerce, the Chairman of the Board of Governors of

the Federal Reserve System, the President of the Export-Import Bank

of the United States, and during such period as the Foreign

Operations Administration shall continue to exist, the Director of

the Foreign Operations Administration.

(b) Duties and functions; reports by Council

(1) The Council, after consultation with the representatives of

the United States on the Fund and the Bank, shall recommend to the

President general policy directives for the guidance of the

representatives of the United States on the Fund and the Bank.

(2) The Council shall advise and consult with the President and

the representatives of the United States on the Fund and the Bank

on major problems arising in the administration of the Fund and the

Bank.

(3) The Council shall coordinate, by consultation or otherwise,

so far as is practicable, the policies and operations of the

representatives of the United States on the Fund and the Bank, the

Export-Import Bank of the United States and all other agencies of

the Government to the extent that they make or participate in the

making of foreign loans or engage in foreign financial, exchange or

monetary transactions.

(4) Whenever, under the Articles of Agreement of the Fund or the

Articles of Agreement of the Bank, the approval, consent or

agreement of the United States is required before an act may be

done by the respective institutions, the decision as to whether

such approval, consent, or agreement, shall be given or refused

shall (to the extent such decision is not prohibited by section

286c of this title) be made by the Council, under the general

direction of the President. No governor, executive director, or

alternate representing the United States shall vote in favor of any

waiver of condition under article V, section 4, or in favor of any

declaration of the United States dollar as a scarce currency under

article VII, section 3, of the Articles of Agreement of the Fund,

without prior approval of the Council.

(5) The Council shall make such reports and recommendations to

the President as he may from time to time request, or as the

Council may consider necessary to more effectively or efficiently

accomplish the purposes of this subchapter or the purposes for

which the Council is created.

(6) The general policy objectives for the guidance of the United

States Executive Director of the Bank shall take into account the

effect that development assistance loans have upon individual

industry sectors and international commodity markets -

(A) to minimize projected adverse impacts; and

(B) to avoid, wherever possible, government subsidization of

production and exports of international commodities without

regard to economic conditions in the markets for such

commodities.

The representatives of the United States on the Fund and the

Bank, and the Export-Import Bank of the United States (and all

other agencies of the Government to the extent that they make or

participate in the making of foreign loans or engage in foreign

financial, exchange or monetary transactions) shall keep the

Council fully informed of their activities and shall provide the

Council with such further information or data in their possession

as the Council may deem necessary to the appropriate discharge of

its responsibilities under this subchapter.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 4, 59 Stat. 512; Apr. 3, 1948, ch.

169, title I, Sec. 106, 62 Stat. 141; Oct. 10, 1951, ch. 479, title

V, Sec. 501(e)(2), 65 Stat. 378; 1953 Reorg. Plan No. 5, eff. June

30, 1953, 18 F.R. 3741, 67 Stat. 637; 1953 Reorg. Plan No. 7, eff.

Aug. 1, 1953, 18 F.R. 4541, 67 Stat. 639; Aug. 9, 1954, ch. 660,

Sec. 2, 68 Stat. 678; Pub. L. 89-126, Sec. 1(1), Aug. 14, 1965, 79

Stat. 519; Pub. L. 90-267, Sec. 1(a), Mar. 13, 1968, 82 Stat. 47;

Pub. L. 98-181, title VIII, Sec. 808(a), Nov. 30, 1983, 97 Stat.

1273; Pub. L. 101-240, title V, Sec. 541(d)(1), (f)(1), Dec. 19,

1989, 103 Stat. 2518, 2519.)

-MISC1-

AMENDMENTS

1989 - Subsec. (b). Pub. L. 101-240 redesignated pars. (7) and

(8) as (5) and (6), respectively, and struck out former pars. (5)

and (6) which read as follows:

"(5) The Council shall transmit to the President and to the

Congress an annual report with respect to the participation of the

United States in the Fund and Bank.

"(6) Each such report shall contain such data concerning the

operations and policies of the Fund and Bank, such recommendations

concerning the Fund and Bank, and such other data and material as

the Council may deem appropriate."

1983 - Subsec. (b)(8). Pub. L. 98-181 added par. (8).

1965 - Subsec. (b)(5). Pub. L. 89-126 substituted provisions

requiring an annual report, for provisions which required the

Council to report from time to time, but not less frequently than

every six months.

Subsec. (b)(6). Pub. L. 89-126 struck out provisions which

required special reports on operations and policies of the Fund and

Bank and prescribed contents of such reports, and inserted

provisions requiring the annual report to contain such data

concerning the operations and policies of the Fund and Bank, such

recommendations concerning the Fund and the Bank, and such other

data and material as deemed appropriate.

1954 - Subsec. (a). Act Aug. 9, 1954, provided membership on

Council for President of the Export-Import Bank of Washington.

1951 - Subsec. (a). Act Oct. 10, 1951, substituted "Mutual

Security Agency" for "Economic Cooperation Administration", and

"Director for Mutual Security" for "Administrator for Economic

Cooperation".

1948 - Subsec. (a). Act Apr. 3, 1948, ch. 169, title I, Sec. 106,

62 Stat. 141, added Administrator for Economic Cooperation, during

existence of the Administration, to membership of National Advisory

Council.

-CHANGE-

CHANGE OF NAME

"Export-Import Bank of Washington" changed in text to

"Export-Import Bank of the United States" to conform to such change

in name in the Export-Import Bank Act of 1945, section 635 et seq.

of Title 12, Banks and Banking, provided for in section 1(a) of

Pub. L. 90-267.

-MISC2-

EFFECTIVE DATE OF 1954 AMENDMENT

Amendment by act Aug. 9, 1954, effective upon initial appointment

of President, First Vice President, and one member of the Board of

Directors of the Export-Import Bank of Washington, see section 4 of

act Aug. 9, 1954, set out as a note under section 635a of Title 12,

Banks and Banking.

REPEALS

Act Apr. 3, 1948, cited as a credit to this section, was repealed

by act June 20, 1952, ch. 449, Sec. 7(c), 66 Stat. 144.

-TRANS-

TRANSFER OF FUNCTIONS

National Advisory Council on International Monetary and Financial

Problems abolished and its functions, together with functions of

its chairman and other officers, transferred to President by

sections 1(b) and 3(a) of Reorg. Plan No. 4 of 1965, eff. July 27,

1965, 30 F.R. 9353, 79 Stat. 1321, set out in the Appendix to Title

5, Government Organization and Employees.

Function of Chairman of Board of Directors of Export-Import Bank

of Washington of being a member of National Advisory Council on

International Monetary and Financial Problems abolished by Reorg.

Plan No. 5 of 1953, eff. June 30, 1953, 18 F.R. 3741, 67 Stat. 637,

set out in the Appendix to Title 5.

Foreign Operations Administration abolished by Ex. Ord. No.

10610, May 9, 1955, 20 F.R. 3179, and its functions and offices

transferred to Department of State to be administered by

International Cooperation Administration. For later transfer, see

section 2381 of this title, and notes set out under that section.

Office of Director for Mutual Security abolished and functions of

Director transferred to Director of Foreign Operations

Administration by Reorg. Plan No. 7 of 1953, eff. Aug. 1, 1953, 18

F.R. 4541. Section 4 of said Reorg. Plan No. 7 of 1953,

specifically provided that Director of Foreign Operations

Administration shall be a member of National Advisory Council on

International Monetary and Financial Problems.

-EXEC-

EX. ORD. NO. 11269. NATIONAL ADVISORY COUNCIL ON INTERNATIONAL

MONETARY AND FINANCIAL POLICIES

Ex. Ord. No. 11269, Feb. 14, 1966, 31 F.R. 2813, as amended by

Ex. Ord. No. 11334, Mar. 7, 1967, 32 F.R. 3933; Ex. Ord. No. 11808,

Sept. 30, 1974, 39 F.R. 35563; Ex. Ord. No. 11977, Mar. 14, 1977,

42 F.R. 14671; Ex. Ord. No. 12164, Sept. 29, 1979, 44 F.R. 56681;

Ex. Ord. No. 12188, Jan. 2, 1980, 45 F.R. 989; Ex. Ord. No. 12403,

Feb. 8, 1983, 48 F.R. 6087; Ex. Ord. No. 12567, Oct. 2, 1986, 51

F.R. 35495; Ex. Ord. No. 12647, Aug. 2, 1988, 53 F.R. 29323; Ex.

Ord. No. 12766, June 18, 1991, 56 F.R. 28463; Ex. Ord. No. 13118,

Sec. 10(9), Mar. 31, 1999, 64 F.R. 16598, provided:

By virtue of the authority vested in me by Reorganization Plan

No. 4 of 1965 (30 F.R. 9353) [set out in the Appendix to Title 5,

Government Organization and Employees], and as President of the

United States, it is ordered as follows:

Section 1. Establishment of Council. (a) There is hereby

established the National Advisory Council on International Monetary

and Financial Policies, hereinafter referred to as the Council.

(b) The Council shall be composed of the following members: the

Secretary of the Treasury, who shall be the chairman of the

Council, the Assistant to the President for Economic Affairs, who

shall be Deputy Chairman of the Council, the Secretary of State,

the United States Trade Representative, the Secretary of Commerce,

the Chairman of the Board of Governors of the Federal Reserve

System, the Administrator of the United States Agency for

International Development, and the President of the Export-Import

Bank of Washington [now the Export-Import Bank of the United

States].

be of interest to Federal agencies not represented on the Council

under Section 1(b) of this order, the Chairman of the Council may

consult with such agencies and may invite them to designate

representatives to participate in meetings and deliberations of the

Council.

Sec. 2. Functions of the Council. (a) Exclusive of the functions

delegated by the provisions of Section 3, below, and subject to the

limitations contained in subsection (b) of this Section, all of the

functions which are now vested in the President in consequence of

their transfer to him effected by the provisions of Section 1(b) of

Reorganization Plan No. 4 of 1965 are hereby delegated to the

Council.

(b) The functions under Sections 4(a) and 4(b)(3) of the Bretton

Woods Agreements Act, including those made applicable to the

International Finance Corporation, the Inter-American Development

Bank, and the International Development Association (22 U.S.C.

286b(a) and (b)(3); 282b; 283b; 284b), to the extent that such

functions consist of coordination of policies, are hereby delegated

to the Council. The functions so delegated shall be deemed to

include the authority to review proposed individual loan,

financial, exchange, or monetary transactions to the extent

necessary or desirable to effectuate the coordination of policies.

Development Bank, African Development Fund,, [sic] African

Development Bank, Inter-American Investment Corporation,

Multilateral Investment Guarantee Agency, and European Bank for

Reconstruction and Development, the same functions as those

delegated to it by subsections (a) and (b) of this section with

respect to other international financial institutions.

Sec. 3. Functions of the Secretary of the Treasury. (a) Functions

which are now vested in the President in consequence of their

transfer to him effected by the provisions of Section 1(b) of

Reorganization Plan No. 4 of 1965 are hereby delegated to the

Secretary of the Treasury to the extent of the following:

(1) Authority, subject to the provisions of Section 7 of this

Order, to instruct representatives of the United States to

international financial organizations.

(2) Authority provided for in Section 4(b)(4) of the Bretton

Woods Agreements Act (22 U.S.C. 286b(b)(4)). Such authority,

insofar as it relates to the development aspects of the policies,

programs, or projects of the International Bank for Reconstruction

and Development shall be exercised subject to the provisions of

Section 7 of this Order.

(b) In carrying out the functions delegated to him by subsection

(a) of this Section the Secretary shall consult with the Council.

responsibilities of the Secretary of State with respect to the

foreign policy of the United States.

(d) The Secretary of the Treasury shall perform, with respect to

the Asian Development Bank, African Development Fund,, [sic]

African Development Bank, Inter-American Investment Corporation,

Multilateral Investment Guarantee Agency, and European Bank for

Reconstruction and Development, the same functions as those

delegated to him by subsections (a) and (b) of this section with

respect to other international financial institutions.

(e) The Secretary of the Treasury is hereby delegated the

functions conferred upon the President by Section 203(b) and

Section 207 of the Act of May 31, 1976 (90 Stat. 593 and 594, 22

U.S.C. 290g-1 and 290g-5), subject to the provisions of Section 7

of this Order.

Sec. 4. Information. (a) All agencies and officers of the

Government, including representatives of the United States to

international financial organizations, (1) shall keep the Council

or the Secretary of the Treasury, as the case may be, fully

informed concerning the foreign loan, financial, exchange, and

monetary transactions in which they engage or may engage or with

respect to which they have other responsibility, and (2) shall

provide the Council, the Secretary of State, and the Secretary with

such further information or data in their possession as the

Council, the Secretary of State, or the Secretary, as the case may

be, may deem necessary to the appropriate discharge of the

responsibilities of the Council, the Secretary of State, and

Secretary under Sections 2 and 3 of this order, respectively.

(b) The Council shall from time to time transmit to all

appropriate agencies and officers of the Government statements of

the policies of the Council under this order and such other

information relating to the above-mentioned transactions or to the

functions of the Council hereunder as the Council shall deem

desirable.

Sec. 5. Executive Order No. 10033. Section 2(a) of Executive

Order No. 10033 of February 8, 1949 [set out as a note under

section 286f of this title], is hereby amended by substituting for

the name "National Advisory Council on International Monetary and

Financial Problems" the following: "National Advisory Council on

International Monetary and Financial Policies."

Sec. 6. Effective date. The provisions of this order shall be

effective as of January 1, 1966.

Sec. 7. Functions of the Secretary of State. The Secretary of

State shall advise both the Secretary of the Treasury and the

appropriate United States representatives to the International Bank

for Reconstruction and Development, the International Development

Association, the International Finance Corporation, the

Inter-American Development Bank, the Asian Development Bank, the

African Development Fund,, [sic] African Development Bank,

Inter-American Investment Corporation, Multilateral Investment

Guarantee Agency, and European Bank for Reconstruction and

Development on the development aspects of matters relating to those

institutions and their activities.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 262, 282b, 283b, 283cc,

284b, 290g-2, 290i-3, 290k-5, 290l-2, 290m, 290o-2 of this title.

-End-

-CITE-

22 USC Secs. 286b-1, 286b-2 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Secs. 286b-1, 286b-2. Repealed. Pub. L. 101-240, title V, Sec.

541(d)(1), (5), Dec. 19, 1989, 103 Stat. 2518

-MISC1-

Section 286b-1, Pub. L. 91-599, ch. 3, Sec. 31, Dec. 30, 1970, 84

Stat. 1658, related to annual report to Congress of National

Advisory Council on International Monetary and Financial Policies.

Section 286b-2, act July 31, 1945, ch. 339, Sec. 50, as added

Nov. 30, 1983, Pub. L. 98-181, title VIII, Sec. 813, 97 Stat. 1276,

related to reports to Congress by National Advisory Council on

International Monetary and Financial Policies and Secretary of the

Treasury.

-End-

-CITE-

22 USC Sec. 286c 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286c. Congressional authorization needed for certain actions

-STATUTE-

Unless Congress by law authorizes such action, neither the

President nor any person or agency shall on behalf of the United

States (a) request or consent to any change in the quota of the

United States under article III, section 2(a), of the Articles of

Agreement of the Fund; (b) propose a par value for the United

States dollar under paragraph 2, paragraph 4, or paragraph 10 of

schedule C of the Articles of Agreement of the Fund; (c) propose

any change in the par value of the United States dollar under

paragraph 6 of schedule C of the Articles of Agreement of the Fund,

or approve any general change in par values under paragraph 11 of

schedule C; (d) subscribe to additional shares of stock under

article II, section 3, of the Articles of Agreement of the Bank;

(e) accept any amendment under article XXVIII of the Articles of

Agreement of the Fund or Article VIII of the Articles of Agreement

of the Bank; (f) make any loan to the Fund or the Bank; or (g)

approve any disposition of Fund gold, unless the Secretary

certifies to the Congress that such disposition is necessary for

the Fund to restitute gold to its members, or for the Fund to

provide liquidity that will enable the Fund to meet member country

claims on the Fund or to meet threats to the systemic stability of

the international financial system. Unless Congress by law

authorizes such action, no governor or alternate appointed to

represent the United States shall vote for an increase of capital

stock of the Bank under article II, section 2, of the Articles of

Agreement of the Bank, if such increase involves an increased

subscription on the part of the United States. Neither the

President nor any person or agency shall, on behalf of the United

States, consent to any borrowing (other than borrowing from a

foreign government or other official public source) by the Fund of

funds denominated in United States dollars, unless the Secretary of

the Treasury transmits a notice of such proposed borrowing to both

Houses of the Congress at least 60 days prior to the date on which

such borrowing is scheduled to occur.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 5, 59 Stat. 514; Pub. L. 89-126, Sec.

1(2), Aug. 14, 1965, 79 Stat. 519; Pub. L. 94-564, Sec. 3, Oct. 19,

1976, 90 Stat. 2660; Pub. L. 95-147, Sec. 4(a)(1), Oct. 28, 1977,

91 Stat. 1228; Pub. L. 98-181, title VIII, Sec. 811, Nov. 30, 1983,

97 Stat. 1274; Pub. L. 106-113, div. B, Sec. 1000(a)(5) [title V,

Sec. 504(d)(1)], Nov. 29, 1999, 113 Stat. 1536, 1501A-317.)

-MISC1-

AMENDMENTS

1999 - Pub. L. 106-113, which directed substitution of "approve

any disposition of Fund gold, unless the Secretary certifies to the

Congress that such disposition is necessary for the Fund to

restitute gold to its members, or for the Fund to provide liquidity

that will enable the Fund to meet member country claims on the Fund

or to meet threats to the systemic stability of the international

financial system." for "approve either the disposition of more than

25 million ounces of Fund gold for the benefit of the Trust Fund

established by the Fund on May 6, 1976, or the establishment of any

additional trust fund whereby resources of the International

Monetary Fund would be used for the special benefit of a single

member, or of a particular segment of the membership, of the Fund."

in cl. (g) of first sentence, was executed by making the

substitution for text which ended with "the fund." rather than "the

Fund.", to reflect the probable intent of Congress.

1983 - Pub. L. 98-181 inserted provision prohibiting the

President or any person or agency from consenting to a borrowing of

funds denominated in dollars unless notice of such borrowing is

transmitted to Congress at least 60 days prior to such borrowing.

1977 - Pub. L. 95-147 added to cl. (g) provisions relating to

disposition of more than 25 million ounces of Fund gold for the

benefit of the Trust Fund.

1976 - Pub. L. 94-564 amended cls. (a) to (g) generally.

1965 - Pub. L. 89-126 inserted "if such increase involves an

increased subscription on the part of the United States".

EFFECTIVE DATE OF 1976 AMENDMENT

Amendment effective Apr. 1, 1978, see section 9 of Pub. L.

94-564, set out as a note under section 286a of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 286b of this title.

-End-

-CITE-

22 USC Sec. 286d 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286d. Federal Reserve banks as depositories

-STATUTE-

Any Federal Reserve bank which is requested to do so by the Fund

or the Bank shall act as its depository or as its fiscal agent, and

the Board of Governors of the Federal Reserve System shall

supervise and direct the carrying out of these functions by the

Federal Reserve banks.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 6, 59 Stat. 514.)

-End-

-CITE-

22 USC Sec. 286e 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e. Payment of subscriptions to Fund and Bank by United

States; issuance of special notes; income covered into Treasury

-STATUTE-

The Secretary of the Treasury is authorized to pay the balance of

the subscription of the United States to the Fund not provided for

in subsection (a) and to pay the subscription of the United States

to the Bank from time to time when payments are required to be made

to the Bank. For the purpose of making these payments, the

Secretary of the Treasury is authorized to use as a public-debt

transaction $8,675,000,000 of the proceeds of any securities

hereafter issued under chapter 31 of title 31, and the purposes for

which securities may be issued under that chapter are extended to

include such purpose. Payment under this paragraph of the

subscription of the United States to the Fund or the Bank and

repayments thereof shall be treated as public-debt transactions of

the United States.

For the purpose of keeping to a minimum the cost to the United

States of participation in the Fund and the Bank, the Secretary of

the Treasury, after paying the subscription of the United States to

the Fund, and any part of the subscription of the United States to

the Bank required to be made under article II, section 7(i), of the

Articles of Agreement of the Bank, is authorized and directed to

issue special notes of the United States from time to time at par

and to deliver such notes to the Fund and the Bank in exchange for

dollars to the extent permitted by the respective Articles of

Agreement. The special notes provided for in this paragraph shall

be issued under the authority and subject to the provisions of

chapter 31 of title 31, and the purposes for which securities may

be issued under that chapter are extended to include the purposes

for which special notes are authorized and directed to be issued

under this paragraph, but such notes shall bear no interest, shall

be nonnegotiable, and shall be payable on demand of the Fund or the

Bank, as the case may be. The face amount of special notes issued

to the Fund under the authority of this paragraph and outstanding

at any one time shall not exceed in the aggregate the amount of the

subscription of the United States actually paid to the Fund and the

dollar equivalent of currencies and gold which the United States

shall have purchased from the Fund in accordance with the Articles

of Agreement, and the face amount of such notes issued to the Bank

and outstanding at any one time shall not exceed in the aggregate

the amount of the subscription of the United States actually paid

to the Bank under article II, section 7(i) of the Articles of

Agreement of the Bank.

Any payment made to the United States by the Fund or the Bank as

a distribution of net income shall be covered into the Treasury as

a miscellaneous receipt.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 7(b)-(d), 59 Stat. 514; Pub. L.

86-48, Sec. 2, June 17, 1959, 73 Stat. 80; Pub. L. 87-490, Sec. 2,

June 19, 1962, 76 Stat. 105.)

-REFTEXT-

REFERENCES IN TEXT

Subsection (a), referred to in the first par., means section 7(a)

of act July 31, 1945, ch. 339, 59 Stat. 514, which generally

amended subsec. (c) of section 822a of former Title 31, Money and

Finance. Section 822a(c) of former Title 31 was repealed and

reenacted as section 5302(d) of Title 31 by Pub. L. 97-258, Sec.

4(a), Sept. 13, 1982, 96 Stat. 1067, the first section of which

enacted Title 31.

-COD-

CODIFICATION

In first and second pars., "chapter 31 of title 31" and "that

chapter" substituted for "the Second Liberty Bond Act, as amended"

and "that Act", respectively, on authority of Pub. L. 97-258, Sec.

4(b), Sept. 13, 1982, 96 Stat. 1067, the first section of which

enacted Title 31, Money and Finance.

Section is based on subsecs. (b) to (d) of section 7 of act July

31, 1945. Subsec. (a) of section 7 amended section 822a of former

Title 31. See References in Text note above.

-MISC1-

AMENDMENTS

1962 - Pub. L. 87-490 included in the limitation of face amount

of special notes issued to the Fund the dollar equivalent of

currencies and gold which the United States shall have purchased

from the Fund in accordance with the Articles of Agreement.

1959 - Pub. L. 86-48 struck out "of $950,000,000" after "is

authorized to pay the balance", and substituted "$8,675,000,000"

for "not to exceed $4,125,000,000".

INCREASE IN QUOTA OF UNITED STATES; APPROPRIATION REQUIREMENTS;

TRANSFERS AND CREDITS; RESTRICTIONS

Pub. L. 96-544, Dec. 17, 1980, 94 Stat. 3213, provided that: "For

an increase in the United States quota in the International

Monetary Fund, the dollar equivalent of 4,202.5 million Special

Drawing Rights (approximately $5,537,839,000), to remain available

until expended, and balances equivalent to the current SDR value of

the United States quota in the Fund shall be merged with this

appropriation. Amounts equivalent to the United States reserve

position in the Fund shall be credited to this appropriation.

Amounts available in this account may be transferred to the Fund by

the Secretary of the Treasury to meet United States obligations in

the Fund in an amount not to exceed at any time the United States

quota in the Fund. The amounts provided for valuation adjustments

of Fund holdings of United States dollars shall continue to be

available for this purpose and shall be available for transfers to

this appropriation account for the purpose of such adjustments. In

the administration of these funds it shall be the policy of the

United States:

"(1) that the Palestine Liberation Organization should not be

given membership in the Fund or be given observer status or any

other official status at any meeting sponsored by or associated

with the Fund;

"(2) that the United States Executive Director of the Fund

shall promptly notify the Fund of such policy;

"(3) that in the event that the Fund provides either

membership, observer status, or any other official status to the

Palestine Liberation Organization, such action would result in a

serious diminution of United States support; and

"(4) that upon review of such action, the President would be

required to report his recommendations to the Congress with

regard to any further United States participation in the Fund."

-End-

-CITE-

22 USC Sec. 286e-1 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-1. Increase in quota of United States and in capital

stock of Bank; subscription to additional shares

-STATUTE-

(a) The United States Governor of the Fund is authorized to

request and consent to an increase of $1,375,000,000 in the quota

of the United States under article III, section 2, of the articles

of agreement of the Fund, as proposed in the resolution of the

Board of Governors of the Fund dated February 2, 1959.

(b) The United States Governor of the Bank is authorized (1) to

vote for increases in the capital stock of the Bank under article

II, section 2, of the articles of agreement of the Bank, as

recommended in the resolution of the Board of Governors of the Bank

dated February 2, 1959, and (2) if such increases become effective,

to subscribe on behalf of the United States to thirty-one thousand

seven hundred and fifty additional shares of stock under article

II, section 3, of the articles of agreement of the Bank.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 16, as added Pub. L. 86-48, Sec. 1,

June 17, 1959, 73 Stat. 80.)

-End-

-CITE-

22 USC Sec. 286e-1a 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-1a. Increase in capital stock of Bank

-STATUTE-

The United States Governor of the Bank is authorized to vote for

an increase of $1,000,000,000 in the authorized capital stock of

the Bank under article II, section 2, of the articles of agreement

of the Bank, as recommended in the report, dated November 6, 1962,

to the Board of Governors of the Bank by the Bank's Executive

Directors.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 19, as added Pub. L. 88-178, Nov. 13,

1963, 77 Stat. 334.)

-End-

-CITE-

22 USC Sec. 286e-1b 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-1b. Increase in quota of United States; authorization of

appropriations

-STATUTE-

(a) The United States Governor of the Fund is authorized to

consent to an increase of $1,035,000,000 in the quota of the United

States in the Fund.

(b) In order to pay the increase in the United States

subscription to the Fund provided for in this section, there is

hereby authorized to be appropriated $1,035,000,000, to remain

available until expended.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 20, as added Pub. L. 89-31, June 2,

1965, 79 Stat. 119.)

-End-

-CITE-

22 USC Sec. 286e-1c 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-1c. Additional increase in quota of United States

-STATUTE-

(a) The United States Governor of the Fund is authorized to

consent to an increase of $1,540,000,000 in the quota of the United

States in the Fund.

(b) In order to pay the increase in the United States quota in

the Fund provided for in this section, there is hereby authorized

to be appropriated $1,540,000,000, to remain available until

expended.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 22, as added Pub. L. 91-599, ch. 1,

Sec. 1, Dec. 30, 1970, 84 Stat. 1657.)

-End-

-CITE-

22 USC Sec. 286e-1d 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-1d. Increase in capital stock of Bank; subscription to

additional shares; authorization of appropriations

-STATUTE-

(a) The United States Governor of the Bank is authorized (1) to

vote for an increase of $3,000,000,000 in the authorized capital

stock of the Bank, and (2) if such increase becomes effective, to

subscribe on behalf of the United States to two thousand four

hundred and sixty-one additional shares of the capital stock of the

Bank.

(b) In order to pay for the increase in the United States

subscription to the Bank provided for in this section, there is

hereby authorized to be appropriated $246,100,000 to remain

available until expended.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 23, as added Pub. L. 91-599, ch. 1,

Sec. 1, Dec. 30, 1970, 84 Stat. 1657.)

-End-

-CITE-

22 USC Sec. 286e-1e 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-1e. Equivalent increase in quota of United States

-STATUTE-

The United States Governor of the Fund is authorized to consent

to an increase in the quota of the United States in the Fund

equivalent to 1,705 million Special Drawing Rights.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 25, as added Pub. L. 94-564, Sec. 1,

Oct. 19, 1976, 90 Stat. 2660.)

-End-

-CITE-

22 USC Sec. 286e-1f 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-1f. Additional increase in capital stock of Bank;

subscription to additional shares; authorization of

appropriations

-STATUTE-

(a) The United States Governor of the Bank is authorized -

(1) to vote for an increase of seventy thousand shares in the

authorized capital stock of the Bank; and

(2) if such increase becomes effective, to subscribe on behalf

of the United States to thirteen thousand and five additional

shares of the capital stock of the Bank: Provided, however, That

any subscription to additional shares shall be effective only to

such extent or in such amounts as are provided in advance in

appropriations Acts.

(b) In order to pay for the increase in the United States

subscription to the Bank provided for in this section, there are

authorized to be appropriated, without fiscal year limitation,

$1,568,856,318 for payment by the Secretary of the Treasury.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 27, as added Pub. L. 95-118, title

II, Sec. 201, Oct. 3, 1977, 91 Stat. 1067; amended Pub. L. 97-35,

title XIII, Sec. 1312, Aug. 13, 1981, 95 Stat. 740.)

-MISC1-

AMENDMENTS

1981 - Subsec. (a)(2). Pub. L. 97-35 substituted "effective only

to such extent or in such amounts as are provided in advance in

appropriations Acts" for "made only after the amount required for

such subscription has been appropriated".

EFFECTIVE DATE OF 1981 AMENDMENT

Amendment by Pub. L. 97-35 effective Aug. 13, 1981, except that

any funds authorized to be appropriated shall not be available for

use or obligation prior to Oct. 1, 1981, see section 1372 of Pub.

L. 97-35, set out as an Effective Date note under section 290i of

this title.

EFFECTIVE DATE

Section effective Oct. 3, 1977, except that no funds authorized

to be appropriated by this section may be available for use or

obligation prior to Oct. 1, 1977, see section 1001 of Pub. L.

95-118, set out as a note under section 282i of this title.

-End-

-CITE-

22 USC Sec. 286e-1g 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-1g. Additional increase in quota of United States;

condition

-STATUTE-

The United States Governor of the Fund is authorized to consent

to an increase in the quota of the United States in the Fund

equivalent to 4,202.5 million Special Drawing Rights, limited to

such amounts as are appropriated in advance in appropriation Acts.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 32, as added and amended Pub. L.

96-389, Secs. 1, 11, Oct. 7, 1980, 94 Stat. 1551, 1555.)

-MISC1-

AMENDMENTS

1980 - Pub. L. 96-389, Sec. 11, substituted "limited to such

amounts as are appropriated in advance in appropriation Acts" for

"to such extent or in such amounts as are provided in

appropriations Acts".

EFFECTIVE DATE

Section effective Oct. 7, 1980, see section 12 of Pub. L. 96-389,

set out as a note under section 286s of this title.

-End-

-CITE-

22 USC Sec. 286e-1h 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-1h. Increase of subscription of stock; authority of

United States Governor of Bank; authorization of appropriations

-STATUTE-

(a) The United States Governor of the Bank is authorized -

(1) to vote to increase by three hundred and sixty-five

thousand shares the authorized capital stock of the Bank; and

(2) to subscribe on behalf of the United States to not more

than seventy-three thousand and ten shares of the capital stock

of the Bank: Provided, however, That not more than seven and

one-half percent ($658,305,195) of the price of the shares

subscribed may be paid in to the Bank on subscription, with the

remainder of that price ($8,149,256,155) being subject to call

only when a call on unpaid subscriptions is required to meet

obligations of the Bank for funds borrowed or on loans guaranteed

by it and not for use by the Bank in its lending activities or

for administrative expenses: Provided further, That any

subscription to such additional shares shall be effective only to

such extent or in such amounts as are provided in advance in

appropriations Acts.

(b) In order to pay for the paid-in portion of the United States

subscription to the Bank provided for in this section, there is

authorized to be appropriated, without fiscal year limitation,

$658,305,195 for payment by the Secretary of the Treasury:

Provided, however, That not more than $109,720,549 of such sum may

be made available for each of the fiscal years 1982, 1983, and

1984.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 39, as added Pub. L. 97-35, title

XIII, Sec. 1311, Aug. 13, 1981, 95 Stat. 740.)

-MISC1-

EFFECTIVE DATE

Section effective Aug. 13, 1981, except that any funds authorized

to be appropriated shall not be available for use or obligation

prior to Oct. 1, 1981, see section 1372 of Pub. L. 97-35, set out

as a note under section 290i of this title.

-End-

-CITE-

22 USC Sec. 286e-1i 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-1i. Increase in United States quota; consultations with

Congress

-STATUTE-

(a) The United States Governor of the Fund is authorized to

consent to an increase in the quota of the United States in the

Fund equivalent to 5,310,800,000 Special Drawing Rights, limited to

such amounts as are provided in advance in appropriations Acts.

(b)(1) The Secretary of the Treasury shall consult with the

chairman and the ranking minority member of -

(A) the Committee on Banking, Finance and Urban Affairs and the

Committee on Appropriations of the House of Representatives, and

any appropriate subcommittee of each such committee; and

(B) the committee on Foreign Relations, the Committee on

Appropriations, and the Committee on Banking, Housing, and Urban

Affairs of the Senate, and any appropriate subcommittee of each

such committee,

for purposes of discussing the position of the executive branch and

the views of the Congress with respect to any international

negotiations being held to consider any future quota increase for

the International Monetary Fund which may involve an increased

contribution, subscription, or loan by the United States.

(2) Such consultation shall be made -

(A) not later than thirty days before the initiation of such

international negotiations;

(B) during the period in which such negotiations are being

held, in a frequent and timely manner; and

United States representatives may agree to such quota increase.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 41, as added Pub. L. 98-181, title

VIII, Sec. 802(a)(4), Nov. 30, 1983, 97 Stat. 1268.)

-CHANGE-

CHANGE OF NAME

Committee on Banking, Finance and Urban Affairs of House of

Representatives treated as referring to Committee on Banking and

Financial Services of House of Representatives by section 1(a) of

Pub. L. 104-14, set out as a note preceding section 21 of Title 2,

The Congress. Committee on Banking and Financial Services of House

of Representatives abolished and replaced by Committee on Financial

Services of House of Representatives, and jurisdiction over matters

relating to securities and exchanges and insurance generally

transferred from Committee on Energy and Commerce of House of

Representatives by House Resolution No. 5, One Hundred Seventh

Congress, Jan. 3, 2001.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 286y of this title.

-End-

-CITE-

22 USC Sec. 286e-1j 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-1j. Additional increase in capital stock of Bank;

subscription to additional shares; authorization of

appropriations

-STATUTE-

(a) The United States Governor of the Bank is authorized -

(1) to vote for an increase of seventy thousand shares in the

authorized capital stock of the Bank; and

(2) to subscribe on behalf of the United States to twelve

thousand four hundred and fifty-three additional shares of the

capital stock of the Bank, except that any subscription to such

additional shares shall be effective only to such extent or in

such amounts as are provided in advance in appropriations Acts.

(b) In order to pay for the increase in the United States

subscription to the Bank provided for in this section, there are

authorized to be appropriated, without fiscal year limitation,

$1,502,267,655 for payment by the Secretary of the Treasury.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 51, as added Pub. L. 99-190, Sec.

101(i) [title I, (a)], Dec. 19, 1985, 99 Stat. 1291, 1294.)

-COD-

CODIFICATION

Section 51 of act July 31, 1945, is based on section 301 of title

III of H.R. 2253, Ninety-ninth Congress, as reported May 15, 1985,

and enacted into law by Pub. L. 99-190.

-End-

-CITE-

22 USC Sec. 286e-1k 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-1k. Capital stock increase

-STATUTE-

(a) Increase authorized

The United States Governor of the Bank is authorized -

(1) to vote for an increase of 620,000 shares in the authorized

capital stock of the Bank; and

(2) to subscribe on behalf of the United States to 116,262

additional shares of the capital stock of the Bank, except that

any subscription to such additional shares shall be effective

only to such extent or in such amounts as are provided in advance

in appropriations Acts.

(b) Authorization of appropriations

In order to pay for the increase in the United States

subscription to the Bank provided for in this section, there are

authorized to be appropriated, without fiscal year limitation,

$14,025,266,370, for payment by the Secretary of the Treasury.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 53, as added Pub. L. 100-461, title

V, Sec. 555, Oct. 1, 1988, 102 Stat. 2268-36.)

-COD-

CODIFICATION

Section 53 of act July 31, 1945, is based on section 1 of H.R.

4645, One Hundredth Congress, as reported Sept. 28, 1988, and

enacted into law by Pub. L. 100-461.

-End-

-CITE-

22 USC Sec. 286e-1l 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-1g742l. Quota increase

-STATUTE-

The United States Governor of the Fund may consent to an increase

in the quota of the United States in the Fund equivalent to

8,608,500,000 Special Drawing Rights, limited to such amounts as

are provided in advance in appropriations Acts.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 56, as added Pub. L. 102-511, title

X, Sec. 1001, Oct. 24, 1992, 106 Stat. 3357.)

-End-

-CITE-

22 USC Sec. 286e-1m 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-1m. Quota increase

-STATUTE-

(a) In general

The United States Governor of the Fund may consent to an increase

in the quota of the United States in the Fund equivalent to

10,622,500,000 Special Drawing Rights.

(b) Subject to appropriations

The authority provided by subsection (a) of this section shall be

effective only to such extent or in such amounts as are provided in

advance in appropriations Acts.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 61, as added Pub. L. 105-277, div. A,

Sec. 101(d) [title VI, Sec. 608], Oct. 21, 1998, 112 Stat.

2681-150, 2681-224.)

-End-

-CITE-

22 USC Sec. 286e-2 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-2. Loans to Fund

-STATUTE-

(a) Limitation; balance of payments and reserve position

considerations

In order to carry out the purposes of the decisions of January 5,

1962, February 24, 1983, and January 27, 1997, as amended in

accordance with their terms, of the Executive Directors of the

International Monetary Fund, the Secretary of the Treasury is

authorized to make loans, in an amount not to exceed the equivalent

of 6,712,000,000 Special Drawing Rights, limited to such amounts as

are provided in advance in appropriations Acts, except that prior

to activation, the Secretary of the Treasury shall certify that

supplementary resources are needed to forestall or cope with an

impairment of the international monetary system and that the Fund

has fully explored other means of funding, to the Fund under

article VII, section 1(i), of the Articles of Agreement of the

Fund. Any loan under the authority granted in this subsection shall

be made with due regard to the present and prospective balance of

payments and reserve position of the United States.

(b) Authorization of appropriations; repayments available for loans

to Fund

For the purpose of making loans to the International Monetary

Fund pursuant to this section, there is authorized to be

appropriated 6,712,000,000 Special Drawing Rights, except that

prior to activation, the Secretary of the Treasury shall certify

whether supplementary resources are needed to forestall or cope

with an impairment of the international monetary system and that

the Fund has fully explored other means of funding, to remain

available until expended to meet calls by the International

Monetary Fund. Any payments made to the United States by the

International Monetary Fund as a repayment on account of the

principal of a loan made under this section shall continue to be

available for loans to the International Monetary Fund.

authorization of appropriations for payment of charges for

purchase of currencies or gold from Fund

Payments of interest and charges to the United States on account

of any loan to the International Monetary Fund shall be covered

into the Treasury as miscellaneous receipts. In addition to the

amount authorized in subsection (b) of this section, there is

authorized to be appropriated such amounts as may be necessary for

the payment of charges in connection with any purchases of

currencies or gold by the United States from the International

Monetary Fund.

(d) Amendment to Executive Directors' decision prohibited;

conditions

Unless the Congress by law so authorizes, neither the President,

the Secretary of the Treasury, nor any other person acting on

behalf of the United States, may instruct the United States

Executive Director to the Fund to consent to any amendment to the

Decision of February 24, 1983, or the Decision of January 27, 1997,

of the Executive Directors of the Fund, if the adoption of such

amendment would significantly alter the amount, terms, or

conditions of participation by the United States in the General

Arrangements to Borrow or the New Arrangements to Borrow, as

applicable.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 17, as added Pub. L. 87-490, Sec. 1,

June 19, 1962, 76 Stat. 105; amended Pub. L. 94-564, Sec. 4, Oct.

19, 1976, 90 Stat. 2661; Pub. L. 98-181, title VIII, Sec.

802(a)(1)-(3), Nov. 30, 1983, 97 Stat. 1268; Pub. L. 105-277, div.

A, Sec. 101(d) [title VI, Sec. 609], Oct. 21, 1998, 112 Stat.

2681-150, 2681-224.)

-MISC1-

AMENDMENTS

1998 - Subsec. (a). Pub. L. 105-277, Sec. 101(d) [title VI, Sec.

609(1)], substituted "February 24, 1983, and January 27, 1997" for

"and February 24, 1983" and "6,712,000,000" for "4,250,000,000".

Subsec. (b). Pub. L. 105-277, Sec. 101(d) [title VI, Sec.

609(2)], substituted "6,712,000,000" for "4,250,000,000".

Subsec. (d). Pub. L. 105-277, Sec. 101(d) [title VI, Sec.

609(3)], inserted "or the Decision of January 27, 1997," after

"February 24, 1983," and "or the New Arrangements to Borrow, as

applicable" before period at end.

1983 - Subsec. (a). Pub. L. 98-181, Sec. 802(a)(1), substituted

"decisions of January 5, 1962, and February 24, 1983, as amended in

accordance with their terms" for "decision of January 5, 1962", and

"in an amount not to exceed the equivalent of 4,250,000,000 Special

Drawing Rights, limited to such amounts as are provided in advance

in appropriations Acts, except that prior to activation, the

Secretary of the Treasury shall certify that supplementary

resources are needed to forestall or cope with an impairment of the

international monetary system and that the fund has fully explored

other means of funding" for "not to exceed $2,000,000,000

outstanding at any one time".

Subsec. (b). Pub. L. 98-181, Sec. 802(a)(2), substituted

"4,250,000,000 Special Drawing Rights, except that prior to

activation, the Secretary of the Treasury shall certify whether

supplementary resources are needed to forestall or cope with an

impairment of the international monetary system and that the Fund

has fully explored other means of funding" for "$2,000,000,000".

Subsec. (d). Pub. L. 98-181, Sec. 802(a)(3), added subsec. (d).

1976 - Subsec. (a). Pub. L. 94-564 substituted "section 1(i)" for

"section 2(i)".

EFFECTIVE DATE OF 1976 AMENDMENT

Amendment effective Apr. 1, 1978, see section 9 of Pub. L.

94-564, set out as a note under section 286a of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in title 2 sections 645, 901.

-End-

-CITE-

22 USC Sec. 286e-3 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-3. Transfers to stabilization fund of purchase of

currencies or gold from International Monetary Fund;

administration; utilization of fund resources for repayments

-STATUTE-

Any purchases of currencies or gold by the United States from the

International Monetary Fund may be transferred to and administered

by the fund established by section 5302 of title 31, for use in

accordance with the provisions of that section. The Secretary of

the Treasury is authorized to utilize the resources of that fund

for the purpose of any repayments in connection with such

transactions.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 18, as added Pub. L. 87-490, Sec. 1,

June 19, 1962, 76 Stat. 105.)

-COD-

CODIFICATION

"Section 5302 of title 31" substituted in text for "section 10 of

the Gold Reserve Act of 1934, as amended (31 U.S.C. 822a)" on

authority of Pub. L. 97-258, Sec. 4(b), Sept. 13, 1982, 96 Stat.

1067, the first section of which enacted Title 31, Money and

Finance.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in title 31 section 5302.

-End-

-CITE-

22 USC Sec. 286e-4 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-4. Loans to International Finance Corporation; amendment

to Articles of Agreement

-STATUTE-

The United States Governor of the Bank is authorized to agree to

an amendment to the articles of agreement of the Bank to permit the

Bank to make, participate in, or guarantee loans to the

International Finance Corporation for use in the lending operations

of the latter.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 21, as added Pub. L. 89-126, Sec.

1(3), Aug. 14, 1965, 79 Stat. 519.)

-End-

-CITE-

22 USC Sec. 286e-5 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-5. Amendments to Articles of Agreement

-STATUTE-

The United States Governor of the Fund is authorized to accept

the amendments to the Articles of Agreement of the Fund approved in

resolution numbered 31-4 of the Board of Governors of the Fund.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 24, as added Pub. L. 94-564, Sec. 1,

Oct. 19, 1976, 90 Stat. 2660.)

-End-

-CITE-

22 USC Sec. 286e-5a 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-5a. Additional amendments to Articles of Agreement

-STATUTE-

The United States Governor of the Bank is hereby authorized to

agree to and to accept the amendment to the Articles of Agreement

in the proposed resolution entitled "Amendment to the Articles of

Agreement of the Bank", forwarded to the United States on February

27, 1987.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 52, as added Pub. L. 100-202, Sec.

101(e) [title I], Dec. 22, 1987, 101 Stat. 1329-131, 1329-134.)

-COD-

CODIFICATION

Section 52 of act July 31, 1945, is based on section 601 of title

VI of H.R. 3750, One Hundredth Congress, as introduced Dec. 11,

1987, and enacted into law by Pub. L. 100-202.

-End-

-CITE-

22 USC Sec. 286e-5b 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-5b. Acceptance of amendments to Articles of Agreement of

the Fund

-STATUTE-

The United States Governor of the Fund may agree to and accept

the amendments to the Articles of Agreement of the Fund as proposed

in the resolution numbered 45-3 of the Board of Governors of the

Fund that was approved by such Board on June 28, 1990.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 57, as added Pub. L. 102-511, title

X, Sec. 1001, Oct. 24, 1992, 106 Stat. 3357.)

-End-

-CITE-

22 USC Sec. 286e-6 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-6. Vote against establishment of Council

-STATUTE-

The United States Governor of the Fund is directed to vote

against the establishment of a Council authorized under Article

XII, Section 1 of the Fund Articles of Agreement as amended, if

under any circumstances the United States' vote in the Council

would be less than its weighted vote in the Fund.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 26, as added Pub. L. 94-564, Sec. 1,

Oct. 19, 1976, 90 Stat. 2660.)

-End-

-CITE-

22 USC Sec. 286e-7 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-7. Supplementary Financing Facility

-STATUTE-

(a) Availability of resources

For the purpose of participation of the United States in the

Supplementary Financing Facility (hereinafter referred to as the

"facility") established by the decision numbered 5508-(77/127) of

the Executive Directors of the Fund, the Secretary of the Treasury

is authorized to make resources available as provided in the

decision numbered 5509-(77/127) of the Fund, in an amount not to

exceed the equivalent of 1,450 million Special Drawing Rights.

(b) Adjustments in the value of monetary assets

The Secretary of the Treasury shall account, through the fund

established by section 5302 of title 31, for any adjustment in the

value of monetary assets held by the United States in respect of

United States participation in the facility.

Notwithstanding any other provision of this section, the

authority of the Secretary to enter into agreements making

resources available under this section shall be limited to such

amounts as are appropriated in advance in appropriation Acts.

Effective October 1, 1978, there are hereby authorized to be

appropriated to the Secretary of the Treasury, without fiscal year

limitation, such sums as are necessary to carry out subsection (a)

of this section, but not to exceed an amount of dollars equivalent

to 1,450 million Special Drawing Rights.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 28, as added Pub. L. 95-435, Sec. 1,

Oct. 10, 1978, 92 Stat. 1051.)

-COD-

CODIFICATION

In subsec. (b), "section 5302 of title 31" substituted for

"section 10 of the Gold Reserve Act of 1934, as amended (31 U.S.C.

822a)" on authority of Pub. L. 97-258, Sec. 4(b), Sept. 13, 1982,

96 Stat. 1067, the first section of which enacted Title 31, Money

and Finance.

-End-

-CITE-

22 USC Sec. 286e-8 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-8. Treatment of creditors in debt rescheduling

-STATUTE-

The Secretary of the Treasury shall instruct the United States

executive director to seek to assure that no decision by the

International Monetary Fund undermines or departs from United

States policy regarding the comparability of treatment of public

and private creditors in cases of debt rescheduling where official

United States credits are involved.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 29, as added Pub. L. 95-435, Sec. 3,

Oct. 10, 1978, 92 Stat. 1052; amended Pub. L. 96-389, Sec. 5, Oct.

7, 1980, 94 Stat. 1554.)

-MISC1-

AMENDMENTS

1980 - Pub. L. 96-389 struck out "on the use of the facility"

after "Monetary Fund".

EFFECTIVE DATE OF 1980 AMENDMENT

Amendment by Pub. L. 96-389 effective Oct. 7, 1980, see section

12 of Pub. L. 96-389, set out as an Effective Date note under

section 286s of this title.

-End-

-CITE-

22 USC Sec. 286e-9 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-9. Stabilization programs

-STATUTE-

The Secretary of the Treasury shall instruct the United States

executive director on the Executive Board of the International

Monetary Fund to initiate a wide consultation with the managing

director of the Fund and other member country executive directors

with regard to encouraging the staff of the Fund to formulate

stabilization programs which, to the maximum feasible extent,

foster a broader base of productive investment and employment,

especially in those productive activities which are designed to

meet basic human needs.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 30, as added Pub. L. 95-435, Sec. 4,

Oct. 10, 1978, 92 Stat. 1052; amended Pub. L. 96-389, Sec. 2(b),

Oct. 7, 1980, 94 Stat. 1553; Pub. L. 101-240, title V, Sec.

541(d)(1), (f)(2), Dec. 19, 1989, 103 Stat. 2518, 2519.)

-MISC1-

AMENDMENTS

1989 - Pub. L. 101-240 struck out subsec. (a) designation and

struck out subsec. (b) which read as follows: "In order to gain a

better understanding of the social, political and economic impact

of the Fund's stabilization programs on borrowing countries,

especially as it relates to the poor majority within those

countries, the United States Governor of the Fund shall prepare and

submit, not later than 180 days after the close of each calendar

year, a report to the Congress. Such report shall evaluate, to the

maximum extent feasible, with respect to countries to which loans

are made during each year, the effects of policies of those

countries which result from the standby agreements on basic human

needs in such countries."

1980 - Subsec. (a). Pub. L. 96-389, Sec. 2(b)(1), struck out

"entered into pursuant to loans from the Supplementary Financing

Facility" after "stabilization programs".

Subsec. (b). Pub. L. 96-389, Sec. 2(b)(2), (3), struck out

"entered into pursuant to loans from the Supplementary Financing

Facility" after "stabilization programs" and "by the Supplementary

Financing Facility" after "loans are made".

EFFECTIVE DATE OF 1980 AMENDMENT

Amendment by Pub. L. 96-389 effective Oct. 7, 1980, see section

12 of Pub. L. 96-389, set out as an Effective Date note under

section 286s of this title.

-End-

-CITE-

22 USC Sec. 286e-10 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-10. Repealed. Pub. L. 97-35, title XIII, Sec. 1371(a)(1),

Aug. 13, 1981, 95 Stat. 746

-MISC1-

Section, act July 31, 1945, ch. 339, Sec. 31, as added Oct. 10,

1978, Pub. L. 95-435, Sec. 4, 92 Stat. 1052, required an annual

report to Congress on the status of internationally recognized

human rights in each country which draws on funds under the

Supplementary Financing Facility of the International Monetary

Fund.

EFFECTIVE DATE OF REPEAL

Repeal effective Aug. 13, 1981, see section 1372 of Pub. L.

97-35, set out as an Effective Date note under section 290i of this

title.

-End-

-CITE-

22 USC Sec. 286e-11 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-11. Assistance by the Fund to any country harboring

international terrorists

-STATUTE-

The Secretary of the Treasury shall instruct the Executive

Director of the United States to the International Monetary Fund to

work in opposition to any extension of financial or technical

assistance by the Supplemental Financing Facility or by any other

agency or facility of such Fund to any country the government of

which -

(1) permits entry into the territory of such country to any

person who has committed an act of international terrorism,

including any act of aircraft hijacking, or otherwise supports,

encourages, or harbors such person; or

(2) fails to take appropriate measures to prevent any such

person from committing any such act outside the territory of such

country.

-SOURCE-

(Pub. L. 95-435, Sec. 6, Oct. 10, 1978, 92 Stat. 1053.)

-COD-

CODIFICATION

Section was not enacted as part of act July 31, 1945, ch. 339, 59

Stat. 512, known as the Bretton Woods Agreements Act, which

comprises this subchapter.

-End-

-CITE-

22 USC Sec. 286e-12 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-12. Contribution to Interest Subsidy Account of Enhanced

Structural Adjustment Facility of International Monetary Fund

-STATUTE-

(a) Contribution authorized

(1) In general

Subject to paragraph (2), the United States Governor of the

Fund may contribute $150,000,000 to the Interest Subsidy Account

of the Enhanced Structural Adjustment Facility of the Fund on

behalf of the United States.

(2) Condition

The United States Governor of the Fund may not make a

commitment to contribute any amount authorized to be contributed

under paragraph (1) before an amount equal to such amount has

been appropriated for such purpose.

(b) Limitation on authorization of appropriations

To pay for the contribution authorized by subsection (a) of this

section, there are authorized to be appropriated not to exceed

$150,000,000, without fiscal year limitation, for payment by the

Secretary of the Treasury.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 54, as added Pub. L. 101-240, title

III, Sec. 301, Dec. 19, 1989, 103 Stat. 2500.)

-End-

-CITE-

22 USC Sec. 286e-13 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286e-13. Approval of fund pledge to sell gold to provide

resources for Reserve Account of Enhanced Structural Adjustment

Facility Trust

-STATUTE-

The Secretary of the Treasury is authorized to instruct the

United States Executive Director of the Fund to vote to approve the

Fund's pledge to sell, if needed, up to 3,000,000 ounces of the

Fund's gold, to restore the resources of the Reserve Account of the

Enhanced Structural Adjustment Facility Trust to a level that would

be sufficient to meet obligations of the Trust payable to lenders

which have made loans to the Loan Account of the Trust that have

been used for the purpose of financing programs to Fund members

previously in arrears to the Fund.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 58, as added Pub. L. 102-511, title

X, Sec. 1001, Oct. 24, 1992, 106 Stat. 3357.)

-End-

-CITE-

22 USC Sec. 286f 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286f. Obtaining and furnishing information to the Fund

-STATUTE-

(a) Required disclosure

Whenever a request is made by the Fund to the United States as a

member to furnish data under article VIII, section 5, of the

Articles of Agreement of the Fund, the President may, through any

agency he may designate, require any person to furnish such

information as the President may determine to be essential to

comply with such request. In making such determination the

President shall seek to collect the information only in such detail

as is necessary to comply with the request of the Fund. No

information so acquired shall be furnished to the Fund in such

detail that the affairs of any person are disclosed.

(b) Penalty for refusal

In the event any person refuses to furnish such information when

requested to do so, the President, through any designated

governmental agency, may by subpoena require such person to appear

and testify or to appear and produce records and other documents,

or both. In case of contumacy by, or refusal to obey a subpoena

served upon any such person, the district court for any district in

which such person is found or resides or transacts business, upon

application by the President or any governmental agency designated

by him, shall have jurisdiction to issue an order requiring such

person to appear and give testimony or appear and produce records

and documents, or both; and any failure to obey such order of the

court may be punished by such court as a contempt thereof.

It shall be unlawful for any officer or employee of the

Government, or for any advisor or consultant to the Government, to

disclose, otherwise than in the course of official duty, any

information obtained under this section, or to use any such

information for his personal benefit. Whoever violates any of the

provisions of this subsection shall, upon conviction, be fined not

more than $5,000, or imprisoned for not more than five years, or

both.

(d) "Person" defined

The term "person" as used in this section means an individual,

partnership, corporation or association.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 8, 59 Stat. 515.)

-EXEC-

EX. ORD. NO. 10033. REGULATIONS GOVERNING THE PROVIDING OF

STATISTICAL INFORMATION TO INTERGOVERNMENTAL ORGANIZATIONS

Ex. Ord. No. 10033, Feb. 8, 1949, 14 F.R. 561, as amended by Ex.

Ord. No. 11269, Feb. 14, 1966, 31 F.R. 2813; Ex. Ord. No. 12013,

Oct. 7, 1977, 42 F.R. 54931; Ex. Ord. No. 12318, Aug. 21, 1981, 46

F.R. 42833, provided:

Section 1. Except as provided in section 2 hereof, the Director

of the Office of Management and Budget, hereinafter referred to as

the Director, (a) shall determine, with the concurrence of the

Secretary of State, what statistical information shall be provided

in response to official requests received by the United States

Government from any intergovernmental organization of which this

country is a member, and (b) shall determine which Federal

executive agency or agencies shall prepare the statistical

information thus to be provided. The statistical information so

prepared shall be transmitted to the requesting intergovernmental

organization through established channels by the Secretary of State

or by any Federal executive agency now or hereafter authorized by

the Secretary of State to transmit such information.

Sec. 2. (a) The National Advisory Council on International

Monetary and Financial Policies, hereinafter referred to as the

National Advisory Council, shall determine, after consultation with

the Director, what information is essential in order that the

United States Government may comply with official requests for

information received from the International Monetary Fund or the

International Bank for Reconstruction and Development.

(b) The Director shall determine which Federal executive agency

or agencies shall collect or make available information found

essential under section 2(a) hereof.

made by the Director under section 2(b) hereof in response to a

request under article VIII, section 5, of the Articles of Agreement

of the International Monetary Fund, the authority conferred on the

President by section 8 of the Bretton Woods Agreements Act [this

section] to require any person to furnish such information, by

subpoena or otherwise, may be exercised by each of the

following-named agencies:

Department of Agriculture.

Department of Commerce.

Department of the Interior.

Department of Labor.

Department of the Treasury.

Board of Governors of the Federal Reserve System.

Federal Communications Commission.

Federal Deposit Insurance Corporation.

Federal Power Commission.

Federal Trade Commission.

Interstate Commerce Commission.

Securities and Exchange Commission.

United States Maritime Commission.

United States Tariff Commission [now the United States

International Trade Commission].

(d) The information collected or made available under section 2

of this order shall be submitted to the National Advisory Council

for review and for presentation to the said Fund or Bank.

(e) As used in this order, the word "person" means an individual,

partnership, corporation, or association.

Sec. 3. The Director's determination of any matter under section

1 or section 2(b) of this order shall be made after consulting

appropriate Federal executive agencies and giving due consideration

to any responsibility now exercised by any of them in relation to

an intergovernmental organization.

Sec. 4. This order shall not be construed to authorize the

Director or the National Advisory Council to provide, or to require

any Federal executive agency to provide, to an intergovernmental

organization (a) information during any period of time when the

agency having primary responsibility for security of the specified

information declares that it must be withheld from the

intergovernmental organization in the interest of military

security, or (b) information which any Federal executive agency is

required by law to maintain on a confidential basis.

Sec. 5. The Director and the National Advisory Council are

authorized to prescribe such regulations as may be necessary to

carry out their respective responsibilities under this order.

Sec. 6. To the extent that this order conflicts with any previous

Executive order, the provisions of this order shall control.

Sec. 7. [Revoked by Ex. Ord. No. 12318, Aug. 21, 1981, 46 F.R.

42833]

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 286z of this title; title

31 section 5315.

-End-

-CITE-

22 USC Sec. 286g 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286g. Jurisdiction and venue of actions

-STATUTE-

For the purpose of any action which may be brought within the

United States or its Territories or possessions by or against the

Fund or the Bank in accordance with the Articles of Agreement of

the Fund or the Articles of Agreement of the Bank, the Fund or the

Bank, as the case may be, shall be deemed to be an inhabitant of

the Federal judicial district in which its principal office in the

United States is located, and any such action at law or in equity

to which either the Fund or the Bank shall be a party shall be

deemed to arise under the laws of the United States, and the

district courts of the United States shall have original

jurisdiction of any such action. When either the Fund or the Bank

is a defendant in any such action, it may, at any time before the

trial thereof, remove such action from a State court into the

district court of the United States for the proper district by

following the procedure for removal of causes otherwise provided by

law.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 10, 59 Stat. 516.)

-End-

-CITE-

22 USC Sec. 286h 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286h. Status, privileges, and immunities of the United States

-STATUTE-

The provisions of article IX, sections 2 to 9, both inclusive,

and the first sentence of article VIII, section 2(b), of the

Articles of Agreement of the Fund, and the provisions of article

VI, section 5(i), and article VII, sections 2 to 9, both inclusive,

of the Articles of Agreement of the Bank, shall have full force and

effect in the United States and its Territories and possessions

upon acceptance of membership by the United States in, and the

establishment of, the Fund and the Bank, respectively.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 11, 59 Stat. 516.)

-End-

-CITE-

22 USC Sec. 286i 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286i. Stabilization loans by Bank; amendment to Articles of

Agreement

-STATUTE-

The governor and executive director of the Bank appointed by the

United States are directed to obtain promptly an official

interpretation by the Bank as to its authority to make or guarantee

loans for programs of economic reconstruction and the

reconstruction of monetary systems, including long-term

stabilization loans. If the Bank does not interpret its powers to

include the making or guaranteeing of such loans, the governor of

the Bank representing the United States is directed to propose

promptly and support an amendment to the Articles of Agreement for

the purpose of explicitly authorizing the Bank, after consultation

with the Fund, to make or guarantee such loans. The President is

authorized and directed to accept an amendment to that effect on

behalf of the United States.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 12, 59 Stat. 516.)

-End-

-CITE-

22 USC Sec. 286j 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286j. Use of Fund resources

-STATUTE-

(a) Official interpretation of authority of Fund

The governor and executive director of the Fund appointed by the

United States are directed to obtain promptly an official

interpretation by the Fund as to whether its authority to use its

resources extends beyond current monetary stabilization operations

to afford temporary assistance to members in connection with

seasonal, cyclical, and emergency fluctuations in the balance of

payment of any member for current transactions, and whether it has

authority to use its resources to provide facilities for relief,

reconstruction, or armaments, or to meet a large or sustained

outflow of capital on the part of any member.

(b) Proposal of amendment

If the interpretation by the Fund answers in the affirmative any

of the questions stated in subsection (a) of this section, the

governor of the Fund representing the United States is directed to

propose promptly and support an amendment to the Articles of

Agreement for the purpose of expressly negativing such

interpretation. The President is authorized and directed to accept

an amendment to that effect on behalf of the United States.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 13, 59 Stat. 517.)

-End-

-CITE-

22 USC Sec. 286k 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286k. Further promotion of international economic relations

-STATUTE-

(a) Congressional declaration of policy

In the realization that additional measures of international

economic cooperation are necessary to facilitate the expansion and

balanced growth of international trade and render most effective

the operations of the Fund and the Bank, it is declared to be the

policy of the United States to seek to bring about further

agreement and cooperation among nations and international bodies,

as soon as possible, on ways and means which will best reduce

obstacles to and restrictions upon international trade, eliminate

unfair trade practices, promote mutually advantageous commercial

relations, and otherwise facilitate the expansion and balanced

growth of international trade and promote the stability of

international economic relations. In considering the policies of

the United States in foreign lending and the policies of the Fund

and the Bank, particularly in conducting exchange transactions, the

Council and the United States representatives on the Fund and the

Bank shall give careful consideration to the progress which has

been made in achieving such agreement and cooperation.

(b) Transmittal of information to Congressional committees

The President shall, upon the request of any committee of the

Congress with legislative or oversight jurisdiction over monetary

policy or the International Monetary Fund, provide to such

committee any appropriate information relevant to that committee's

jurisdiction which is furnished to any department or agency of the

United States by the International Monetary Fund. The President

shall comply with this provision consistent with United States

membership obligations in the International Monetary Fund and

subject to such limitations as are appropriate to the sensitive

nature of the information.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 14, 59 Stat. 517; Pub. L. 95-147,

Sec. 4(a)(2), Oct. 28, 1977, 91 Stat. 1228.)

-MISC1-

AMENDMENTS

1977 - Pub. L. 95-147 designated existing provisions as subsec.

(a) and added subsec. (b).

-End-

-CITE-

22 USC Sec. 286k-1 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286k-1. Securities issued by Bank as exempt securities;

reports filed with Security and Exchange Commission

-STATUTE-

(a) Any securities issued by International Bank for

Reconstruction and Development (including any guaranty by the bank,

whether or not limited in scope), and any securities guaranteed by

the bank as to both principal and interest, shall be deemed to be

exempted securities within the meaning of subsection (a)(2) of

section 77c of title 15, and subsection (a)(12) of section 78c of

title 15. The bank shall file with the Securities and Exchange

Commission such annual and other reports with regard to such

securities as the Commission shall determine to be appropriate in

view of the special character of the bank and its operations and

necessary in the public interest or for the protection of

investors.

(b) Repealed. Pub. L. 101-240, title V, Sec. 541(d)(1), Dec. 19,

1989, 103 Stat. 2518.

-SOURCE-

(July 31, 1945, ch. 339, Sec. 15, as added June 29, 1949, ch. 276,

Sec. 2, 63 Stat. 298; amended Pub. L. 101-240, title V, Sec.

541(d)(1), Dec. 19, 1989, 103 Stat. 2518.)

-MISC1-

AMENDMENTS

1989 - Subsec. (b). Pub. L. 101-240 struck out subsec. (b) which

related to contents of National Advisory Council reports provided

for in section 286b of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 286k-2 of this title.

-End-

-CITE-

22 USC Sec. 286k-2 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286k-2. Suspension of right of International Bank to issue

securities under section 286k-1; report of Securities and

Exchange Commission

-STATUTE-

The Securities and Exchange Commission acting in consultation

with the National Advisory Council on International Monetary and

Financial Problems is authorized to suspend the provisions of

section 286k-1 (a) of this title at any time as to any or all

securities issued or guaranteed by the bank during the period of

such suspension. The Commission shall include in its annual reports

to Congress such information as it shall deem advisable with regard

to the operations and effect of this section, and section 286k-1 of

this title and section 24 of title 12 and in connection therewith

shall include any views submitted for such purpose by any

association of dealers registered with the Commission.

-SOURCE-

(June 29, 1949, ch. 276, Sec. 3, 63 Stat. 299.)

-COD-

CODIFICATION

Section was not enacted as part of act July 31, 1945, ch. 339, 59

Stat. 512, known as the Bretton Woods Agreements Act, which

comprises this subchapter.

-TRANS-

DELEGATION OF FUNCTIONS

Functions of National Advisory Council on International Monetary

and Financial Problems delegated to National Advisory Council on

International Monetary and Financial Policies, see section 2(a) of

Ex. Ord. No. 11269, Feb. 14, 1966, 31 F.R. 2813, set out as a note

under section 286b of this title.

-End-

-CITE-

22 USC Sec. 286l 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286g742l. British loan; authorization to Secretary of the

Treasury to carry out agreement

-STATUTE-

The Secretary of the Treasury, in consultation with the National

Advisory Council on International Monetary and Financial Problems,

is authorized to carry out the agreement dated December 6, 1945,

between the United States and the United Kingdom which was

transmitted by the President to the Congress on January 30, 1946,

and the action of the Secretary of the Treasury in signing the

agreement dated March 6, 1957, amending said agreement is approved.

-SOURCE-

(July 15, 1946, ch. 577, Sec. 1, 60 Stat. 535; Pub. L. 85-21, Apr.

20, 1957, 71 Stat. 17.)

-REFTEXT-

REFERENCES IN TEXT

Agreement dated December 6, 1945, between the United States and

the United Kingdom, referred to in text, is set out as a note

below.

-COD-

CODIFICATION

Section was not enacted as a part of act July 31, 1945, ch. 339,

59 Stat. 512, known as the Bretton Woods Agreements Act, which

comprises this subchapter.

-MISC1-

AMENDMENTS

1957 - Pub. L. 85-21 inserted ", and the action of the Secretary

of the Treasury in signing the agreement dated March 6, 1957,

amending said agreement is approved".

-TRANS-

DELEGATION OF FUNCTIONS

Functions of National Advisory Council on International Monetary

and Financial Problems delegated to National Advisory Council on

International Monetary and Financial Policies, see section 2(a) of

Ex. Ord. No. 11269, Feb. 14, 1966, 31 F.R. 2813, set out as a note

under section 286b of this title.

-MISC2-

PURPOSES

In defining the purposes of act July 15, 1946, sections 286l and

286m of this title, Congress stated that:

"Whereas in the Bretton Woods Agreements Act [this subchapter]

the Congress has declared it to be the policy of the United States

'to seek to bring about further agreement and cooperation among

nations and international bodies, as soon as possible, on ways and

means which will best reduce obstacles to and restrictions upon

international trade, eliminate unfair trade practices, promote

mutually advantageous commercial relations, and otherwise

facilitate the expansion and balanced growth of international trade

and promote the stability of international economic relations'; and

"Whereas in further implementation of the purposes of the Bretton

Woods Agreements, the Governments of the United States and the

United Kingdom have negotiated an agreement dated December 6, 1945,

designed to expedite the achievement of stable and orderly exchange

arrangements, the prompt elimination of exchange restrictions and

discriminations, and other objectives of the above-mentioned policy

declared by the Congress."

FINANCIAL AGREEMENT BETWEEN THE GOVERNMENTS OF THE UNITED STATES

AND THE UNITED KINGDOM

It is hereby agreed between the Government of the United States

of America and the Government of the United Kingdom of Great

Britain and Northern Ireland as follows:

1. Effective date of the agreement: The effective date of this

Agreement shall be the date on which the Government of the United

States notifies the Government of the United Kingdom that the

Congress of the United States has made available the funds

necessary to extend to the Government of the United Kingdom the

line of credit in accordance with the provisions of this Agreement.

2. Line of credit: The Government of the United States will

extend to the Government of the United Kingdom a line of credit of

$3,750,000,000 which may be drawn upon at any time between the

effective date of this Agreement and December 31, 1951, inclusive.

3. Purpose of the line of credit: The purpose of the line of

credit is to facilitate purchases by the United Kingdom of goods

and services in the United States, to assist the United Kingdom to

meet transitional post-war deficits in its current balance of

payments, to help the United Kingdom to maintain adequate reserves

of gold and dollars, and to assist the Government of the United

Kingdom to assume the obligations of multilateral trade, as defined

in this and other agreements.

4. Amortization and interest:

(i) The amount of the line of credit drawn by December 31, 1951,

shall be repaid in 50 annual installments beginning on December 31,

1951, with interest at the rate of 2 percent per annum. Interest

for the year 1951 shall be computed on the amount outstanding on

December 31, 1951, and for each year thereafter, interest shall be

computed on the amount outstanding on January 1 of each such year.

Forty-nine annual installments of principal repayments and

interest shall be equal, calculated at the rate of $31,823,000 for

each $1,000,000,000 of the line of credit drawn by December 31,

1951, and the fiftieth installment shall be at the rate of

$31,840,736.65 for each such $1,000,000,000. Each installment shall

consist of the full amount of the interest due and the remainder of

the installment shall be the principal to be repaid in that year.

Payments required by this section are subject to the provisions of

section 5.

(ii) The Government of the United Kingdom may accelerate

repayment of the amount drawn under this line of credit.

5. Deferment of annual installments.

(i) In any calendar year after December 31, 1956, in which the

Government of the United Kingdom advises the Government of the

United States that it finds that a deferment is necessary in view

of the present and prospective conditions of international exchange

and the level of its gold and foreign exchange reserves, the

Government of the United Kingdom may defer the payment of the

annual installment for that year of principal repayment and

interest specified under Section 4. Not more than seven (7) annual

installments may be so deferred. The first of any such deferred

installments shall be paid on December 31, 2001, and the others

shall be paid annually thereafter, in order.

(ii) In addition, the installment of interest in respect of the

year 1956 is hereby deferred, in lieu of any right of waiver

hitherto existing. This installment shall be paid on December 31 of

the year following that in which the last of all other

installments, including installments deferred under the preceding

paragraph, is due.

(iii) Deferred installments shall bear interest at the rate of 2

percent per annum, payable annually on December 31 of each year

following that in which deferment occurs.

(iv) Payment of deferred installments may be accelerated, in

whole or in part, at the option of the Government of the United

Kingdom. [Amended Mar. 6, 1957, eff. Apr. 25, 1957.]

6. Relation of this line of credit to other obligations. The

Government of the United Kingdom undertakes not to defer an

installment under Section 5 of this Agreement in any year, unless

it also defers the installment due in that year under the Financial

Agreement between the Government of Canada and the Government of

the United Kingdom, dated March 6, 1946. [Amended Mar. 6, 1957,

eff. Apr. 25, 1957.]

7. Sterling area exchange arrangements: The Government of the

United Kingdom will complete arrangements as early as practicable

and in any case not later than one year after the effective date of

this Agreement, unless in exceptional cases a later date is agreed

upon after consultation, under which immediately after the

completion of such arrangements the sterling receipts from current

transactions of all sterling area countries (apart from any

receipts arising out of military expenditure by the Government of

the United Kingdom prior to December 31, 1948, to the extent to

which they are treated by agreement with the countries concerned on

the same basis as the balances accumulated during the war) will be

freely available for current transactions in any currency area

without discrimination; with the result that any discrimination

arising from the so-called sterling area dollar pool will be

entirely removed and that each member of the sterling area will

have its current sterling and dollar receipts at its free

disposition for current transactions anywhere.

8. Other exchange arrangements:

(i) Government of the United Kingdom agrees that after the

effective date of this Agreement it will not apply exchange

controls in such a manner as to restrict (a) payments or transfers

in respect of products of the United States permitted to be

imported into the United Kingdom or other current transactions

between the two countries or (b) the use of sterling balances to

the credit of residents of the United States arising out of current

transactions. Nothing in this paragraph (i) shall affect the

provisions of Article VII of the Articles of Agreement of the

International Monetary Fund when those Articles have come into

force.

(ii) The Governments of the United States and the United Kingdom

agree that not later than one year after the effective date of this

Agreement, unless in exceptional cases a later date is agreed upon

after consultation, they will impose no restrictions on payments

and transfers for current transactions. The obligations of this

paragraph (ii) shall not apply:

(a) to balances of third countries and their nationals

accumulated before this paragraph (ii) becomes effective; or

(b) to restrictions imposed in conformity with the Articles of

Agreement of the International Monetary Fund, provided that the

Governments of the United Kingdom and the United States will not

continue to invoke the provisions of Article XIV, Section 2 of

those Articles after this paragraph (ii) becomes effective, unless

in exceptional cases after consultation they agree otherwise; or

to uncover and dispose of assets of Germany and Japan.

(iii) This section and section 9, which are in anticipation of

more comprehensive arrangements by multilateral agreement, shall

operate until December 31, 1951.

9. Import arrangements: If either the Government of the United

States or the Government of the United Kingdom imposes or maintains

quantitative import restrictions, such restrictions shall be

administered on a basis which does not discriminate against imports

from the other country in respect of any product; provided that

this undertaking shall not apply in cases in which (a) its

application would have the effect of preventing the country

imposing such restrictions from utilizing, for the purchase of

needed imports, inconvertible currencies accumulated up to December

31, 1946, or (b) there may be special necessity for the country

imposing such restrictions to assist, by measures not involving a

substantial departure from the general rule of non-discrimination,

a country whose economy has been disrupted by war, or (c) either

government imposes quantitative restrictions having equivalent

effect to any exchange restrictions which that government is

authorized to impose in conformity with Article VII of the Articles

of Agreement of the International Monetary Fund. The provisions of

this section shall become effective as soon as practicable but not

later than December 31, 1946.

10. Accumulated sterling balances:

(i) The Government of the United Kingdom intends to make

agreements with the countries concerned, varying according to the

circumstances of each case, for an early settlement covering the

sterling balances accumulated by sterling area and other countries

prior to such settlement (together with any future receipts arising

out of military expenditure by the Government of the United Kingdom

to the extent to which they are treated on the same basis by

agreement with the countries concerned). The settlements with the

sterling area countries will be on the basis of dividing these

accumulated balances into three categories (a) balances to be

released at once and convertible into any currency for current

transactions, (b) balances to be similarly released by installments

over a period of years beginning in 1951, and (c) balances to be

adjusted as a contribution to the settlement of war and postwar

indebtedness and in recognition of the benefits which the countries

concerned might be expected to gain from such a settlement. The

Government of the United Kingdom will make every endeavor to secure

the early completion of these arrangements.

(ii) In consideration of the fact that an important purpose of

the present line of credit is to promote the development of

multilateral trade and facilitate its early resumption on a

non-discriminatory basis, the Government of the United Kingdom

agrees that any sterling balances released or otherwise available

for current payments will, not later than one year after the

effective date of this Agreement unless in special cases a later

date is agreed upon after consultation, be freely available for

current transactions in any currency area without discrimination.

11. Definitions:

For the purposes of this Agreement:

(i) The term "current transactions" shall have the meaning

prescribed in Article XIX (i) of the Articles of Agreement of the

International Monetary Fund.

(ii) The term "sterling area" means the United Kingdom and the

other territories declared by the Defence (Finance) Definition of

the Sterling Area) (No. 2) Order, 1944, to be included in the

sterling area, namely "the following territories excluding Canada

and Newfoundland, that is to say -

(a) any Dominion,

(b) any other part of His Majesty's dominions,

League of Nations has been accepted by His Majesty and is being

exercised by His Majesty's Government in the United Kingdom or in

any Dominion,

(d) any British protectorate or protected State,

(e) Egypt, the Anglo-Egyptian Sudan and Iraq.

(f) Iceland and the Faroe Islands."

12. Consultation on Agreement: Either government shall be

entitled to approach the other for a reconsideration of any of the

provisions of this Agreement, if in its opinion the prevailing

conditions of international exchange justify such reconsideration,

with a view to agreeing upon modifications for presentation to

their respective legislatures.

Signed in duplicate at Washington, District of Columbia this 6th

day of December, 1945.

For the Government of the United States of America:

Fred M. Vinson,

Secretary of the Treasury

of the United States of America.

For the Government of the United Kingdom of Great Britain and

Northern Ireland:

Halifax.

-End-

-CITE-

22 USC Sec. 286m 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286m. Amount of loan; public-debt transaction; disposition of

interest payments

-STATUTE-

For the purpose of carrying out the agreement dated December 6,

1945, between the United States and the United Kingdom, the

Secretary of the Treasury is authorized to use as a public-debt

transaction not to exceed $3,750,000,000 of the proceeds of any

securities issued after July 15, 1946, under chapter 31 of title

31, and the purposes for which securities may be issued under that

chapter are extended to include such purpose. Payments to the

United Kingdom under this section and section 286l of this title

and pursuant to the agreement and repayments thereof shall be

treated as public-debt transactions of the United States. Payments

of interest to the United States under the agreement shall be

covered into the Treasury as miscellaneous receipts.

-SOURCE-

(July 15, 1946, ch. 577, Sec. 2, 60 Stat. 535.)

-REFTEXT-

REFERENCES IN TEXT

Agreement dated December 6, 1945, between the United States and

the United Kingdom, referred to in text, is set out as a note under

section 286l of this title.

-COD-

CODIFICATION

"Chapter 31 of title 31" and "that chapter" substituted in text

for "the Second Liberty Bond Act, as amended" and "that Act",

respectively, on authority of Pub. L. 97-258, Sec. 4(b), Sept. 13,

1982, 96 Stat. 1067, the first section of which enacted Title 31,

Money and Finance.

Section was not enacted as a part of act July 31, 1945, ch. 339,

59 Stat. 512, known as the Bretton Woods Agreement Act, which

comprises this subchapter.

-End-

-CITE-

22 USC Sec. 286n 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286n. Special Drawing Rights

-STATUTE-

The President is hereby authorized (a) to accept the amendment to

the articles of agreement of the International Monetary Fund

(hereinafter referred to as the "Fund"), attached to the April 1968

report by the Executive Directors to the Board of Governors of the

Fund, for the purpose of (i) establishing a facility based on

Special Drawing Rights in the Fund and (ii) giving effect to

certain modifications in the present rules and practices of the

Fund, and (b) to participate in the special drawing account

established by the amendment.

-SOURCE-

(Pub. L. 90-349, Sec. 2, June 19, 1968, 82 Stat. 188.)

-COD-

CODIFICATION

Section was not enacted as part of act July 31, 1945, ch. 339, 59

Stat. 512, known as the Bretton Woods Agreement Act, which

comprises this subchapter.

-MISC1-

SHORT TITLE

Section 1 of Pub. L. 90-349 provided: "That this Act [enacting

this section and sections 286o to 286r of this title and amending

sections 412, 415, 417, and 467 of Title 12, Banks and Banking] may

be cited as the 'Special Drawing Rights Act'."

-End-

-CITE-

22 USC Sec. 286o 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286g742o. Administration as part of the Exchange Stabilization

Fund

-STATUTE-

(a) Special Drawing Rights

Special Drawing Rights allocated to the United States pursuant to

article XVIII of the Articles of Agreement of the Fund, and Special

Drawing Rights otherwise acquired by the United States, shall be

credited to the account of, and administered as part of, the

Exchange Stabilization Fund established by section 5302 of title

31.

(b) Deposit in and withdrawal from Fund

The proceeds resulting from the use of Special Drawing Rights by

the United States, and payments of interest to the United States

pursuant to article XX, article XXIV, and article XXV of the

Articles of Agreement of the Fund, shall be deposited in the

Exchange Stabilization Fund. Currency payments by the United States

in return for Special Drawing Rights, and payments of charges or

assessments pursuant to article XX, article XXIV, and article XXV

of the Articles of Agreement of the Fund, shall be made from the

resources of the Exchange Stabilization Fund.

-SOURCE-

(Pub. L. 90-349, Sec. 3, June 19, 1968, 82 Stat. 188; Pub. L.

94-564, Sec. 5(1), (2), Oct. 19, 1976, 90 Stat. 2661.)

-COD-

CODIFICATION

In subsec. (a), "section 5302 of title 31" substituted for

"section 10 of the Gold Reserve Act of 1934, as amended (31 U.S.C.

822a)" on authority of Pub. L. 97-258, Sec. 4(b), Sept. 13, 1982,

96 Stat. 1067, the first section of which enacted Title 31, Money

and Finance.

Section was not enacted as part of act July 31, 1945, ch. 339, 59

Stat. 512, known as the Bretton Woods Agreement Act, which

comprises this subchapter.

-MISC1-

AMENDMENTS

1976 - Subsec. (a). Pub. L. 94-564, Sec. 5(1), substituted

"article XVIII" for "article XXIV".

Subsec. (b). Pub. L. 94-564, Sec. 5(2), substituted "article XX,

article XXIV, and XXV" for "article XXVI, article XXX, and article

XXXI" wherever appearing.

EFFECTIVE DATE OF 1976 AMENDMENT

Amendment effective Apr. 1, 1978, see section 9 of Pub. L.

94-564, set out as a note under section 286a of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in title 31 section 5302.

-End-

-CITE-

22 USC Sec. 286p 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286p. Issuance, purpose, and redemption of Special Drawing

Rights certificates

-STATUTE-

(a) The Secretary of the Treasury is authorized to issue to the

Federal Reserve banks, and such banks shall purchase, Special

Drawing Right certificates in such form and in such denominations

as he may determine, against any Special Drawing Rights held to the

credit of the Exchange Stabilization Fund. Such certificates shall

be issued and remain outstanding only for the purpose of financing

the acquisition of Special Drawing Rights or for financing exchange

stabilization operations. The amount of Special Drawing Right

certificates issued and outstanding shall at no time exceed the

value of the Special Drawing Rights held against the Special

Drawing Right certificates. The proceeds resulting from the

issuance of Special Drawing Right certificates shall be covered

into the Exchange Stabilization Fund.

(b) Special Drawing Right certificates owned by the Federal

Reserve banks shall be redeemed from the resources of the Exchange

Stabilization Fund at such times and in such amounts as the

Secretary of the Treasury may determine.

-SOURCE-

(Pub. L. 90-349, Sec. 4, June 19, 1968, 82 Stat. 188.)

-COD-

CODIFICATION

Section was not enacted as part of act July 31, 1945, ch. 339, 59

Stat. 512, known as the Bretton Woods Agreement Act, which

comprises this subchapter.

-End-

-CITE-

22 USC Sec. 286q 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR

RECONSTRUCTION AND DEVELOPMENT

-HEAD-

Sec. 286q. Limitation on allocations to the United States

-STATUTE-

(a) Unless Congress by law authorizes such action, neither the

President nor any person or agency shall on behalf of the United

States vote to allocate in each basic period Special Drawing Rights

under article XVIII, sections 2 and 3, of the Articles of Agreement

of the Fund so that allocations to the United States in that period

exceed an amount equal to the United States quota in the Fund as

authorized under the Bretton Woods Agreements Act [22 U.S.C. 286 et

seq.].

(b)(1) Neither the President nor any person or agency shall on

behalf of the United States vote to allocate Special Drawing Rights

under article XVIII, sections 2 and 3, of the Articles of Agreement

of the Fund without consultations by the Secretary of the Treasury

at least 90 days prior to any such vote, with the Chairman and

ranking minority members of the Committee on Foreign Relations and

the Committee on Banking, Housing, and Urban Affairs of the Senate

and the Committee on Banking, Finance and Urban Affairs of the

House of Representatives, and the appropriate subcommittees

thereof.

(2) Such consultations shall include an explanation of the

consistency of such proposal to allocate with the requirements of

the Articles of Agreement of the Fund, in particular the

requirement that in all its decisions with respect to allocation of

Special Drawing Rights, the Fund shall "seek to meet the long-term

global need, as and when it arises, to supplement existing reserve

assets in such manner as will promote the attainment of its

purposes and will avoid economic stagnation and deflation as well

as excess demand and inflation in the world".

-SOURCE-

(Pub. L. 90-349, Sec. 6, June 19, 1968, 82 Stat. 189; Pub. L.

91-599, ch. 1, Sec. 2, Dec. 30, 1970, 84 Stat. 1657; Pub. L.

94-564, Sec. 5(3), Oct. 19, 1976, 90 Stat. 2661; Pub. L. 98-181,

title VIII, Sec. 803, Nov. 30, 1983, 97 Stat. 1270.)

-REFTEXT-

REFERENCES IN TEXT

The Bretton Woods Agreements Act, referred to in subsec. (a), is

act July 31, 1945, ch. 339, 59 Stat. 512, as amended, which is

classified principally to this subchapter (Sec. 286 et seq.). For

complete classification of this Act to the Code, see Short Title

note set out under section 286 of this title and Tables.

-COD-

CODIFICATION

Section was not enacted as part of act July 31, 1945, ch. 339, 59

Stat. 512, known as the Bretton Woods Agreement Act, which

comprises this subchapter.

-MISC1-

AMENDMENTS

1983 - Pub. L. 98-181 designated existing provisions as subsec.

(a) and added subsec. (b).

1976 - Pub. L. 94-564 substituted "article XVIII" for "article

XXIV".

1970 - Pub. L. 91-599 inserted "in each basic period" after "vote

to allocate" and substituted "allocations to the United States in

that period exceed an amount equal to the United States quota in

the Fund as authorized under the Bretton Woods Agreements Act" for

"net cumulative allocations to the United States exceed an amount

equal to the United States quota in the Fund as heretofore

authorized under the Bretton Woods Agreements Act of 1945, as

amended".