§ 290l–2 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE Page 196

1So in original. Probably should not be capitalized.

the Bank, an alternate for the Governor, and a

Director of the Bank.

(b) Compensation

Any person who serves as a Governor of the

Bank or as an alternate for the Governor may

not receive any salary or other compensation

from the United States by reason of such service.

(Pub. L. 101–513, title V, §562(c)(3), Nov. 5, 1990,

104 Stat. 2034.)

CODIFICATION

Subsecs. (a) and (b) were in the original (A) and (B),

respectively, and were editorially redesignated for purposes of codification.

§ 290l–2. Applicability of certain provisions of

Bretton Woods Agreements Act

Section 286b of this title shall apply to the

Bank in the same manner in which such section

applies to the International Bank for Reconstruction and Development and the International Monetary Fund.

(Pub. L. 101–513, title V, §562(c)(4), Nov. 5, 1990,

104 Stat. 2034.)

REFERENCES IN TEXT

The Bretton Woods Agreements Act, referred to in

section catchline, is act July 31, 1945, ch. 339, 59 Stat.

512, as amended, which is classified principally to subchapter XV (§286 et seq.) of this chapter. For complete

classification of this Act to the Code, see Short Title

note set out under section 286 of this title and Tables.

§ 290l–3. Federal Reserve banks as depositories

Any Federal Reserve Bank 1 which is requested

to do so by the Bank may act as its depository,

or as its fiscal agent, and the Board of Governors of the Federal Reserve System shall exercise general supervision over the carrying out of

these functions.

(Pub. L. 101–513, title V, §562(c)(5), Nov. 5, 1990,

104 Stat. 2034.)

§ 290l–4. Subscription of stock

(a) Subscription authority

(1) In general

The Secretary of the Treasury may subscribe on behalf of the United States to 100,000

shares of the capital stock of the Bank.

(2) Effectiveness of subscription commitment

Any commitment to make such subscription

shall be effective only to such extent or in

such amounts as are provided for in advance

by appropriations Acts.

(b) Limitations on authorization of appropriations

For payment by the Secretary of the Treasury

of the subscription of the United States for

shares described in subsection (a) of this section,

there are authorized to be appropriated

$1,167,010,000 without fiscal year limitation.

(c) Disposition of net income distributions by

Bank

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.

(Pub. L. 101–513, title V, §562(c)(6), Nov. 5, 1990,

104 Stat. 2034.)

CODIFICATION

Subsecs. (a) to (c) were in the original (A) to (C), respectively, and pars. (1) and (2) of subsec. (a) were in

the original (i) and (ii), respectively, and were editorially redesignated for purposes of codification.

FIRST GENERAL CAPITAL INCREASE

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

2425, provided in part that the Secretary of the Treasury may, to effect the United States participation in

the first general capital increase of the European Bank

for Reconstruction and Development, subscribe to and

make payment for 100,000 additional shares of the capital stock of the Bank on behalf of the United States,

and authorized $285,772,500 for paid-in capital and

$984,327,500 for callable capital of the European Bank

for Reconstruction and Development to be appropriated

without fiscal year limitation, subject to obtaining the

necessary appropriations.

§ 290l–5. Jurisdiction and venue of civil actions

by or against Bank

(a) Jurisdiction

The United States district courts shall have

original and exclusive jurisdiction of any civil

action brought in the United States by or

against the Bank.

(b) Venue

For purposes of section 1391(b) of title 28, the

Bank shall be deemed to be a resident of the judicial district in which the principal office of

the Bank in the United States, or its agent appointed for the purpose of accepting service or

notice of service, is located.

(Pub. L. 101–513, title V, §562(c)(7), Nov. 5, 1990,

104 Stat. 2035.)

CODIFICATION

Subsecs. (a) and (b) were in the original (A) and (B),

respectively, and were editorially redesignated for purposes of codification.

§ 290l–6. Effectiveness of Agreement

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 Bank and the entry into force of

the Agreement.

(Pub. L. 101–513, title V, §562(c)(8), Nov. 5, 1990,

104 Stat. 2035.)

§ 290l–7. Exemption from securities laws for certain securities issued by Bank; reports required

(a) Exemption from securities laws; reports to

Securities and Exchange Commission

Any securities issued by the Bank (including

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