H. R. 2029—587 
transferred to, and merged with, funds appropriated by this title 
under the heading ‘‘Migration and Refugee Assistance’’. 
(b) Notwithstanding any other provision of this section, not 
to exceed $15,000,000 from funds appropriated under the heading 
‘‘Foreign Military Financing Program’’ by this title in this Act 
and made available for the Europe and Eurasia Regional program 
may be transferred to, and merged with, funds previously made 
available under the heading ‘‘Global Security Contingency Fund’’ 
which shall be available only for programs in the Europe and 
Eurasia region. 
(c) The transfer authority provided in subsection (a) may only 
be exercised to address contingencies. 
(d) The transfer authority provided in subsections (a) and (b) 
shall be subject to prior consultation with, and the regular notifica-
tion procedures of, the Committees on Appropriations: Provided, 
That such transfer authority is in addition to any transfer authority 
otherwise available under any other provision of law, including 
section 610 of the Foreign Assistance Act of 1961 which may be 
exercised by the Secretary of State for the purposes of this title. 
TITLE IX 
OTHER MATTERS 
MULTILATERAL ASSISTANCE 
INTERNATIONAL MONETARY PROGRAMS 
UNITED STATES QUOTA, INTERNATIONAL MONETARY FUND 
DIRECT LOAN PROGRAM ACCOUNT 
For an increase in the United States quota in the International 
Monetary Fund, the dollar equivalent of 40,871,800,000 Special 
Drawing Rights, to remain available until expended: Provided, That 
notwithstanding the provisos under the heading ‘‘International 
Assistance Programs—International Monetary Programs—United 
States Quota, International Monetary Fund’’ in the Supplemental 
Appropriations Act, 2009 (Public Law 111–32), the costs of the 
amounts provided under this heading in this Act and in Public 
Law 111–32 shall be estimated on a present value basis, excluding 
administrative costs and any incidental effects on governmental 
receipts or outlays: Provided further, That for purposes of the pre-
vious proviso, the discount rate for purposes of the present value 
calculation shall be the appropriate interest rate on marketable 
Treasury securities, adjusted for market risk: Provided further, 
That such amount is designated by the Congress as an emergency 
requirement pursuant to section 251(b)(2)(A)(i) of the Balanced 
Budget and Emergency Deficit Control Act of 1985, as amended: 
Provided further, That such amount shall be available only if the 
President designates such amount, and the related amount to be 
rescinded under the heading ‘‘Loans to the International Monetary 
Fund Direct Loan Program Account’’, as an emergency requirement 
pursuant to section 251(b)(2)(A)(i) and transmits such designation 
to the Congress.
H. R. 2029—588 
LOANS TO THE INTERNATIONAL MONETARY FUND 
DIRECT LOAN PROGRAM ACCOUNT 
(INCLUDING RESCISSION OF FUNDS) 
Of the amounts provided under the heading ‘‘International 
Assistance Programs—International Monetary Programs—Loans to 
International Monetary Fund’’ in the Supplemental Appropriations 
Act, 
2009 (Public 
Law 
111–32), 
the 
dollar 
equivalent 
of 
40,871,800,000 Special Drawing Rights is hereby permanently 
rescinded as of the date when the rollback of the United States 
credit arrangement in the New Arrangements to Borrow of the 
International Monetary Fund is effective, but no earlier than when 
the increase of the United States quota authorized in section 72 
of the Bretton Woods Agreements Act (22 U.S.C. 286 et seq.) 
becomes effective: Provided, That notwithstanding the second 
through fourth provisos under the heading ‘‘International Assistance 
Programs—International Monetary Programs—Loans to Inter-
national Monetary Fund’’ in Public Law 111–32, the costs of the 
amounts under this heading in this Act and in Public Law 111– 
32 shall be estimated on a present value basis, excluding adminis-
trative costs and any incidental effects on governmental receipts 
or outlays: Provided further, That for purposes of the previous 
proviso, the discount rate for purposes of the present value calcula-
tion shall be the appropriate interest rate on marketable Treasury 
securities, adjusted for market risk: Provided further, That such 
amount is designated by the Congress as an emergency requirement 
pursuant to section 251(b)(2)(A)(i) of the Balanced Budget and 
Emergency Deficit Control Act of 1985, as amended: Provided fur-
ther, That such amount shall be rescinded only if the President 
designates such amount as an emergency requirement pursuant 
to section 251(b)(2)(A)(i) and transmits such designation to the 
Congress. 
GENERAL PROVISIONS 
LIMITATIONS ON AND EXPIRATION OF AUTHORITY WITH RESPECT TO 
NEW ARRANGEMENTS TO BORROW 
SEC. 9001. Section 17 of the Bretton Woods Agreements Act 
(22 U.S.C. 286e–2) is amended— 
(1) in subsection (a) by adding at the end the following: 
‘‘(5) The authority to make loans under this section shall 
expire on December 16, 2022.’’; 
(2) in subsection (b), in paragraphs (1) and (2), by inserting 
before the end period the following: ‘‘, only to the extent that 
amounts available for such loans are not rescinded by an Act 
of Congress’’; 
(3) by adding the following subsection (e), which shall be 
effective from the first day of the next period of renewal of 
the NAB decision after enactment of this Act: 
‘‘(e) New Requirement for Activation of the New Arrangements 
to Borrow 
‘‘(1) The Secretary of the Treasury shall include in the 
certification and report required by paragraphs (a)(1), (a)(2), 
(b)(1), and (b)(2) of this section prior to activation an additional 
certification and report that—
H. R. 2029—589 
‘‘(A) the one-year forward commitment capacity of the 
IMF (excluding borrowed resources) is expected to fall 
below 100,000,000,000 Special Drawing Rights during the 
period of the NAB activation; and 
‘‘(B) activation of the NAB is in the United States 
strategic economic interest with the reasons and analysis 
for that determination. 
‘‘(2) Prior to submitting any certification and report 
required by paragraphs (a)(1), (a)(2), (b)(1), and (b)(2) of this 
section, the Secretary of the Treasury shall consult with the 
appropriate congressional committees.’’; and 
(4) by adding at the end the following: 
‘‘(f) In this section, the term ‘appropriate congressional commit-
tees’ means the Committees on Appropriations and Foreign Rela-
tions of the Senate and the Committees on Appropriations and 
Financial Services of the House of Representatives.’’. 
ACCEPTANCE OF AMENDMENTS TO ARTICLES OF AGREEMENT; QUOTA 
INCREASE 
SEC. 9002. The Bretton Woods Agreements Act (22 U.S.C. 286 
et seq.) is amended by adding at the end the following: 
‘‘SEC. 71. ACCEPTANCE OF AMENDMENTS TO THE ARTICLES OF AGREE-
MENT OF THE FUND. 
‘‘The United States Governor of the Fund may accept the 
amendments to the Articles of Agreement of the Fund as proposed 
in resolution 66–2 of the Board of Governors of the Fund. 
‘‘SEC. 72. QUOTA INCREASE. 
‘‘(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 40,871,800,000 Special Drawing Rights. 
‘‘(b) SUBJECT TO APPROPRIATIONS.—The authority provided by 
subsection (a) shall be effective only to such extent or in such 
amounts as are provided in advance in appropriations Acts.’’. 
REPORT ON METHODOLOGY USED FOR CONGRESSIONAL BUDGET 
OFFICE COST ESTIMATES 
SEC. 9003. (a) REPORT.—Not later than 180 days after the 
date of enactment of this Act, the Director of the Congressional 
Budget Office shall submit a report to the appropriate congressional 
committees on the methodology used and rationale for incorporating 
market risk in cost estimates for the International Monetary Fund: 
Provided, That for the purposes of this subsection, the term ‘‘appro-
priate congressional committees’’ means— 
(1) the Committees on Appropriations, Budget, Banking, 
Housing and Urban Affairs, and Foreign Relations of the 
Senate; and 
(2) the Committees on Appropriations, Budget, and Finan-
cial Services of the House of Representatives. 
(b) REQUIREMENTS.—The report submitted pursuant to sub-
section (a) shall include matters relevant to the evaluation of the 
budgetary effects of the participation of the United States in the 
International Monetary Fund, including the risks associated with—
H. R. 2029—590 
(1) the current participation of the United States in the 
International Monetary Fund, including the market risk of 
the Fund; 
(2) countries borrowing from the Fund; 
(3) the various loan instruments and assistance activities 
of the Fund; and 
(4) past participation of the United States in the Inter-
national Monetary Fund, including the historical net cost to 
the government of previous quota increases. 
(c) REVIEW.—Following the submission of the report required 
by subsection (a), the Committees on Appropriations and Budget 
of the Senate and the Committees on Appropriations and Budget 
of the House of Representatives shall review the Congressional 
Budget Office’s market risk scoring methodology and consider 
options for modifying the budgetary treatment of new appropria-
tions to the International Monetary Fund: Provided, That in con-
ducting such review, such committees should consult with other 
interested parties, including the Office of Management and Budget 
and the Congressional Budget Office. 
REQUIRED CONSULTATIONS WITH CONGRESS IN ADVANCE OF 
CONSIDERATION OF EXCEPTIONAL ACCESS LENDING 
SEC. 9004. (a) IN GENERAL.—The United States Executive 
Director of the International Monetary Fund (the Fund) (or any 
designee of the Executive Director) may not vote for the approval 
of an exceptional access loan to be provided by the Fund to a 
country unless, not later than 7 days before voting to approve 
that loan (subject to subsection (c)), the Secretary of the Treasury 
submits to the Committees on Appropriations and Foreign Relations 
of the Senate and the Committees on Appropriations and Financial 
Services of the House of Representatives— 
(1) a report on the exceptional access program under which 
the loan is to be provided, including a description of the size 
and tenor of the program; and 
(2) a debt sustainability analysis and related documenta-
tion justifying the need for the loan. 
(b) ELEMENTS.—A debt sustainability analysis under subsection 
(a)(2) with respect to an exceptional access loan shall include the 
following: 
(1) any assumptions for growth of the gross domestic 
product of the country that may receive the loan; 
(2) an estimate of whether the public debt of that country 
is sustainable in the medium term, consistent with the excep-
tional access lending rules of the Fund; 
(3) an estimate of the prospects of that country for 
regaining access to private capital markets; and 
(4) an evaluation of the probability of the success of pro-
viding the exceptional access loan. 
(c) EXTRAORDINARY
CIRCUMSTANCES.—The Secretary may 
submit the report and analysis required by subsection (a) to the 
Committees on Appropriations and Foreign Relations of the Senate 
and the Committees on Appropriations and Financial Services of 
the House of Representatives not later than 2 business days after 
a decision by the Executive Board of the Fund to approve an 
exceptional access loan only if the Secretary— 
(1) determines and certifies that—