Page 121 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 286c

President of the Export-Import Bank of Washington

[now the Export-Import Bank of the United States].

(c) Whenever matters within the jurisdiction of the

Council may 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.

(c) The Council 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 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.

(c) Nothing in this order shall be deemed to derogate

from the 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, InterAmerican 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 Director of the International Development Cooperation Agency, and the

Secretary with such further information or data in

their possession as the Council, the Director of the

International Development Cooperation Agency, or the

Secretary, as the case may be, may deem necessary to

the appropriate discharge of the responsibilities of the

Council, the Director of the International Development

Cooperation Agency, 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 abovementioned 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 Director of the International Development Cooperation Agency. As the principal international development advisor to the President, the Director of the International Development Cooperation

Agency 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.

CROSS REFERENCES

Inter-American Development Bank, applicability of

provisions, see section 283b of this title.

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.

§§ 286b–1, 286b–2. Repealed. Pub. L. 101–240, title

V, § 541(d)(1), (5), Dec. 19, 1989, 103 Stat. 2518

Section 286b–1, Pub. L. 91–599, ch. 3, §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, §50, as added

Nov. 30, 1983, Pub. L. 98–181, title VIII, §813, 97 Stat.

1276, related to reports to Congress by National Advisory Council on International Monetary and Financial

Policies and Secretary of the Treasury.

§ 286c. Congressional authorization needed for

certain actions

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