§ 5203 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE Page 1172

groups, any successor to any of those, or any

agents thereof.

(Pub. L. 100–204, title X, §1003, Dec. 22, 1987, 101

Stat. 1407.)

REFERENCES IN TEXT

For the effective date of this chapter, referred to in

text, as being 90 days after Dec. 22, 1987, see section 1005

of Pub. L. 100–204, set out as an Effective Date note

under section 5201 of this title.

§ 5203. Enforcement

(a) Attorney General

The Attorney General shall take the necessary

steps and institute the necessary legal action to

effectuate the policies and provisions of this

chapter.

(b) Relief

Any district court of the United States for a

district in which a violation of this chapter occurs shall have authority, upon petition of relief

by the Attorney General, to grant injunctive

and such other equitable relief as it shall deem

necessary to enforce the provisions of this chapter.

(Pub. L. 100–204, title X, §1004, Dec. 22, 1987, 101

Stat. 1407.)

CHAPTER 62—INTERNATIONAL FINANCIAL

POLICY

SUBCHAPTER I—EXCHANGE RATES AND INTERNATIONAL ECONOMIC POLICY COORDINATION

Sec.

5301. Short title.

5302. Findings.

5303. Statement of policy.

5304. International negotiations on exchange rate

and economic policies.

(a) Multilateral negotiations.

(b) Bilateral negotiations.

5305. Reporting requirements.

(a) Reports required.

(b) Contents of report.

5306. Definitions.

SUBCHAPTER II—INTERNATIONAL DEBT

PART A—FINDINGS, PURPOSES, AND STATEMENT OF

POLICY

5321. Short title.

5322. Findings.

5323. Purposes.

5324. Statement of policy.

PART B—INTERNATIONAL DEBT MANAGEMENT

AUTHORITY

5331. International initiative.

(a) Directive.

(b) Objectives.

(c) Interim reports.

(d) Final report.

5332. Actions to facilitate creation of Authority.

(a) In general.

(b) Construction of section.

5333. IMF-World Bank review.

(a) IMF review.

(b) World Bank review.

SUBCHAPTER III—PRIMARY DEALERS

5341. Short title.

5342. Requirement of national treatment in underwriting government debt instruments.

(a) Findings.

Sec.

(b) Designation of certain persons as primary dealers prohibited.

(c) Exception for countries having or negotiating bilateral agreements with

United States.

(d) ‘‘Persons of a foreign country’’ defined.

(e) Effective date.

SUBCHAPTER IV—FINANCIAL REPORTS

5351. Short title.

5352. Quadrennial reports on foreign treatment of

United States financial institutions.

5353. Fair trade in financial services.

(a) Discussions.

(b) Consultation before discussions.

(c) Recommendations.

(d) Construction of section.

5354. Banks loan loss reserves.

SUBCHAPTER I—EXCHANGE RATES AND

INTERNATIONAL ECONOMIC POLICY COORDINATION

§ 5301. Short title

This subchapter may be cited as the ‘‘Exchange Rates and International Economic Policy Coordination Act of 1988’’.

(Pub. L. 100–418, title III, §3001, Aug. 23, 1988, 102

Stat. 1372.)

REFERENCES IN TEXT

This subchapter, referred to in text, was in the original ‘‘this subtitle’’, meaning subtitle A (§§3001–3006) of

title III of Pub. L. 100–418, which enacted this subchapter and amended section 225a of Title 12, Banks

and Banking. For complete classification of subtitle A

to the Code, see Tables.

§ 5302. Findings

The Congress finds that—

(1) the macroeconomic policies, including

the exchange rate policies, of the leading industrialized nations require improved coordination and are not consistent with long-term

economic growth and financial stability;

(2) currency values have a major role in determining the patterns of production and

trade in the world economy;

(3) the rise in the value of the dollar in the

early 1980’s contributed substantially to our

current trade deficit;

(4) exchange rates among major trading nations have become increasingly volatile and a

pattern of exchange rates has at times developed which contribute to substantial and persistent imbalances in the flow of goods and

services between nations, imposing serious

strains on the world trading system and frustrating both business and government planning;

(5) capital flows between nations have become very large compared to trade flows, respond at times quickly and dramatically to

policy and economic changes, and, for these

reasons, contribute significantly to uncertainty in financial markets, the volatility of

exchange rates, and the development of exchange rates which produce imbalances in the

flow of goods and services between nations;

(6) policy initiatives by some major trading

nations that manipulate the value of their