Page 125 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 286e–2

mittee 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

(C) before a session of such negotiations is

held at which the United States representatives may agree to such quota increase.

(July 31, 1945, ch. 339, §41, as added Pub. L.

98–181, title VIII, §802(a)(4), Nov. 30, 1983, 97 Stat.

1268.)

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.

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 286y of this title.

§ 286e–1j. Additional increase in capital stock of

Bank; subscription to additional shares; authorization of appropriations

(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.

(July 31, 1945, ch. 339, §51, as added Pub. L.

99–190, §101(i) [title I, (a)], Dec. 19, 1985, 99 Stat.

1291, 1294.)

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.

§ 286e–1k. Capital stock increase

(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.

(July 31, 1945, ch. 339, §53, as added Pub. L.

100–461, title V, §555, Oct. 1, 1988, 102 Stat.

2268–36.)

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.

§ 286e–1l. Quota increase

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.

(July 31, 1945, ch. 339, §56, as added Pub. L.

102–511, title X, §1001, Oct. 24, 1992, 106 Stat.

3357.)

§ 286e–2. Loans to Fund

(a) Limitation; balance of payments and reserve

position considerations

In order to carry out the purposes of the decisions of January 5, 1962, and February 24, 1983, 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 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, 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

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