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22 U.S.C. § 286e–1f (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–1f. 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) if such increase becomes effective, to subscribe on behalf of the United States to thirteen thousand and five additional shares of the capital stock of the Bank: Provided, however, That any subscription to 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, $1,568,856,318 for payment by the Secretary of the Treasury.
(July 31, 1945, ch. 339, § 27, as added Pub. L. 95–118, title II, § 201, Oct. 3, 1977, 91 Stat. 1067; amended Pub. L. 97–35, title XIII, § 1312, Aug. 13, 1981, 95 Stat. 740.)
heading: Amendments
text: 1981—Subsec. (a)(2). Pub. L. 97–35 substituted “effective only to such extent or in such amounts as are provided in advance in appropriations Acts” for “made only after the amount required for such subscription has been appropriated”.
heading: Effective Date of 1981 Amendment
text: Amendment by Pub. L. 97–35 effective Aug. 13, 1981, except that any funds authorized to be appropriated shall not be available for use or obligation prior to Oct. 1, 1981, see section 1372 of Pub. L. 97–35, set out as an Effective Date note under section 290i of this title.
heading: Effective Date
text: Section effective Oct. 3, 1977, except that no funds authorized to be appropriated by this section may be available for use or obligation prior to Oct. 1, 1977, see section 1001 of Pub. L. 95–118, set out as a note under section 282i of this title.
22 U.S.C. § 286e–1g (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–1g. Additional increase in quota of United States; condition
The United States Governor of the Fund is authorized to consent to an increase in the quota of the United States in the Fund equivalent to 4,202.5 million Special Drawing Rights, limited to such amounts as are appropriated in advance in appropriation Acts.
(July 31, 1945, ch. 339, § 32, as added and amended Pub. L. 96–389, §§ 1, 11, Oct. 7, 1980, 94 Stat. 1551, 1555.)
heading: Amendments
text: 1980—Pub. L. 96–389, § 11, substituted “limited to such amounts as are appropriated in advance in appropriation Acts” for “to such extent or in such amounts as are provided in appropriations Acts”.
heading: Effective Date
text: Section effective Oct. 7, 1980, see section 12 of Pub. L. 96–389, set out as a note under section 286s of this title.
22 U.S.C. § 286e–1h (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–1h. Increase of subscription of stock; authority of United States Governor of Bank; authorization of appropriations
(a) The United States Governor of the Bank is authorized—
(1) to vote to increase by three hundred and sixty-five thousand shares the authorized capital stock of the Bank; and
(2) to subscribe on behalf of the United States to not more than seventy-three thousand and ten shares of the capital stock of the Bank: Provided, however, That not more than seven and one-half percent ($658,305,195) of the price of the shares subscribed may be paid in to the Bank on subscription, with the remainder of that price ($8,149,256,155) being subject to call only when a call on unpaid subscriptions is required to meet obligations of the Bank for funds borrowed or on loans guaranteed by it and not for use by the Bank in its lending activities or for administrative expenses: Provided further, 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 paid-in portion of the United States subscription to the Bank provided for in this section, there is authorized to be appropriated, without fiscal year limitation, $658,305,195 for payment by the Secretary of the Treasury: Provided, however, That not more than $109,720,549 of such sum may be made available for each of the fiscal years 1982, 1983, and 1984.
(July 31, 1945, ch. 339, § 39, as added Pub. L. 97–35, title XIII, § 1311, Aug. 13, 1981, 95 Stat. 740.)
heading: Effective Date
text: Section effective Aug. 13, 1981, except that any funds authorized to be appropriated shall not be available for use or obligation prior to Oct. 1, 1981, see section 1372 of Pub. L. 97–35, set out as a note under section 290i of this title.
22 U.S.C. § 286e–1i (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–1i. Increase in United States quota; consultations with Congress
(a) The United States Governor of the Fund is authorized to consent to an increase in the quota of the United States in the Fund equivalent to 5,310,800,000 Special Drawing Rights, limited to such amounts as are provided in advance in appropriations Acts.
(b)
(1) The Secretary of the Treasury shall consult with the chairman and the ranking minority member of—
(A) the Committee on Banking, Finance and Urban Affairs and the Committee on Appropriations of the House of Representatives, and any appropriate subcommittee of each such committee; and
(B) the committee on Foreign Relations, the Committee on Appropriations, and the Committee 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 I [title VIII, § 802(a)(4)], Nov. 30, 1983, 97 Stat. 1268.)
heading: Change of Name
text: 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. Committee on Banking and Financial Services of House of Representatives abolished and replaced by Committee on Financial Services of House of Representatives, and jurisdiction over matters relating to securities and exchanges and insurance generally transferred from Committee on Energy and Commerce of House of Representatives by House Resolution No. 5, One Hundred Seventh Congress, Jan. 3, 2001.
22 U.S.C. § 286e–1j (FOREIGN RELATIONS AND INTERCOURSE)
§ 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.)
heading: Codification
text: 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.
22 U.S.C. § 286e–1k (FOREIGN RELATIONS AND INTERCOURSE)
§ 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.)
heading: Codification
text: 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.
22 U.S.C. § 286e–1l (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–1l. Quota increase to 8,608,500,000 Special Drawing Rights
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.)
22 U.S.C. § 286e–1m (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–1m. Quota increase to 10,622,500,000 Special Drawing Rights
(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 10,622,500,000 Special Drawing Rights.
(b) Subject to appropriations
The authority provided by subsection (a) of this section shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts.
(July 31, 1945, ch. 339, § 61, as added Pub. L. 105–277, div. A, § 101(d) [title VI, § 608], Oct. 21, 1998, 112 Stat. 2681–150, 2681–224.)
22 U.S.C. § 286e–3 (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–3. Transfers to stabilization fund of purchase of currencies or gold from International Monetary Fund; administration; utilization of fund resources for repayments
Any purchases of currencies or gold by the United States from the International Monetary Fund may be transferred to and administered by the fund established by section 5302 of title 31, for use in accordance with the provisions of that section. The Secretary of the Treasury is authorized to utilize the resources of that fund for the purpose of any repayments in connection with such transactions.
(July 31, 1945, ch. 339, § 18, as added Pub. L. 87–490, § 1, June 19, 1962, 76 Stat. 105.)
heading: Codification
text: “Section 5302 of title 31” substituted in text for “section 10 of the Gold Reserve Act of 1934, as amended (31 U.S.C. 822a)” on authority of Pub. L. 97–258, § 4(b), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Finance.
22 U.S.C. § 286e–4 (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–4. Loans to International Finance Corporation; amendment to Articles of Agreement
The United States Governor of the Bank is authorized to agree to an amendment to the articles of agreement of the Bank to permit the Bank to make, participate in, or guarantee loans to the International Finance Corporation for use in the lending operations of the latter.
(July 31, 1945, ch. 339, § 21, as added Pub. L. 89–126, § 1(3), Aug. 14, 1965, 79 Stat. 519.)
22 U.S.C. § 286e–5 (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–5. Amendments to Articles of Agreement
The United States Governor of the Fund is authorized to accept the amendments to the Articles of Agreement of the Fund approved in resolution numbered 31–4 of the Board of Governors of the Fund.
(July 31, 1945, ch. 339, § 24, as added Pub. L. 94–564, § 1, Oct. 19, 1976, 90 Stat. 2660.)
22 U.S.C. § 286e–5a (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–5a. Additional amendments to Articles of Agreement
The United States Governor of the Bank is hereby authorized to agree to and to accept the amendment to the Articles of Agreement in the proposed resolution entitled “Amendment to the Articles of Agreement of the Bank”, forwarded to the United States on February 27, 1987.
(July 31, 1945, ch. 339, § 52, as added Pub. L. 100–202, § 101(e) [title I], Dec. 22, 1987, 101 Stat. 1329–131, 1329–134.)
heading: Codification
text: Section 52 of act July 31, 1945, is based on section 601 of title VI of H.R. 3750, One Hundredth Congress, as introduced Dec. 11, 1987, and enacted into law by Pub. L. 100–202.
22 U.S.C. § 286e–5b (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–5b. Acceptance of amendments to Articles of Agreement of the Fund approved on June 28, 1990
The United States Governor of the Fund may agree to and accept the amendments to the Articles of Agreement of the Fund as proposed in the resolution numbered 45–3 of the Board of Governors of the Fund that was approved by such Board on June 28, 1990.
(July 31, 1945, ch. 339, § 57, as added Pub. L. 102–511, title X, § 1001, Oct. 24, 1992, 106 Stat. 3357.)
22 U.S.C. § 286e–6 (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–6. Vote against establishment of Council
The United States Governor of the Fund is directed to vote against the establishment of a Council authorized under Article XII, Section 1 of the Fund Articles of Agreement as amended, if under any circumstances the United States’ vote in the Council would be less than its weighted vote in the Fund.
(July 31, 1945, ch. 339, § 26, as added Pub. L. 94–564, § 1, Oct. 19, 1976, 90 Stat. 2660.)
22 U.S.C. § 286e–7 (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–7. Supplementary Financing Facility
(a) Availability of resources
For the purpose of participation of the United States in the Supplementary Financing Facility (hereinafter referred to as the “facility”) established by the decision numbered 5508–(77/127) of the Executive Directors of the Fund, the Secretary of the Treasury is authorized to make resources available as provided in the decision numbered 5509–(77/127) of the Fund, in an amount not to exceed the equivalent of 1,450 million Special Drawing Rights.
(b) Adjustments in the value of monetary assets
The Secretary of the Treasury shall account, through the fund established by section 5302 of title 31, for any adjustment in the value of monetary assets held by the United States in respect of United States participation in the facility.
(c) Authorization of appropriations
Notwithstanding any other provision of this section, the authority of the Secretary to enter into agreements making resources available under this section shall be limited to such amounts as are appropriated in advance in appropriation Acts. Effective October 1, 1978, there are hereby authorized to be appropriated to the Secretary of the Treasury, without fiscal year limitation, such sums as are necessary to carry out subsection (a) of this section, but not to exceed an amount of dollars equivalent to 1,450 million Special Drawing Rights.
(July 31, 1945, ch. 339, § 28, as added Pub. L. 95–435, § 1, Oct. 10, 1978, 92 Stat. 1051.)
heading: Codification
text: In subsec. (b), “section 5302 of title 31” substituted for “section 10 of the Gold Reserve Act of 1934, as amended (31 U.S.C. 822a)” on authority of Pub. L. 97–258, § 4(b), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Finance.
22 U.S.C. § 286e–8 (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–8. Treatment of creditors in debt rescheduling
The Secretary of the Treasury shall instruct the United States executive director to seek to assure that no decision by the International Monetary Fund undermines or departs from United States policy regarding the comparability of treatment of public and private creditors in cases of debt rescheduling where official United States credits are involved.
(July 31, 1945, ch. 339, § 29, as added Pub. L. 95–435, § 3, Oct. 10, 1978, 92 Stat. 1052; amended Pub. L. 96–389, § 5, Oct. 7, 1980, 94 Stat. 1554.)
heading: Amendments
text: 1980—Pub. L. 96–389 struck out “on the use of the facility” after “Monetary Fund”.
heading: Effective Date of 1980 Amendment
text: Amendment by Pub. L. 96–389 effective Oct. 7, 1980, see section 12 of Pub. L. 96–389, set out as an Effective Date note under section 286s of this title.
22 U.S.C. § 286e–9 (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–9. Stabilization programs
The Secretary of the Treasury shall instruct the United States executive director on the Executive Board of the International Monetary Fund to initiate a wide consultation with the managing director of the Fund and other member country executive directors with regard to encouraging the staff of the Fund to formulate stabilization programs which, to the maximum feasible extent, foster a broader base of productive investment and employment, especially in those productive activities which are designed to meet basic human needs.
(July 31, 1945, ch. 339, § 30, as added Pub. L. 95–435, § 4, Oct. 10, 1978, 92 Stat. 1052; amended Pub. L. 96–389, § 2(b), Oct. 7, 1980, 94 Stat. 1553; Pub. L. 101–240, title V, § 541(d)(1), (f)(2), Dec. 19, 1989, 103 Stat. 2518, 2519.)
heading: Amendments
text: 1989—Pub. L. 101–240 struck out subsec. (a) designation and struck out subsec. (b) which read as follows: “In order to gain a better understanding of the social, political and economic impact of the Fund’s stabilization programs on borrowing countries, especially as it relates to the poor majority within those countries, the United States Governor of the Fund shall prepare and submit, not later than 180 days after the close of each calendar year, a report to the Congress. Such report shall evaluate, to the maximum extent feasible, with respect to countries to which loans are made during each year, the effects of policies of those countries which result from the standby agreements on basic human needs in such countries.”
1980—Subsec. (a). Pub. L. 96–389, § 2(b)(1), struck out “entered into pursuant to loans from the Supplementary Financing Facility” after “stabilization programs”.
Subsec. (b). Pub. L. 96–389, § 2(b)(2), (3), struck out “entered into pursuant to loans from the Supplementary Financing Facility” after “stabilization programs” and “by the Supplementary Financing Facility” after “loans are made”.
heading: Effective Date of 1980 Amendment
text: Amendment by Pub. L. 96–389 effective Oct. 7, 1980, see section 12 of Pub. L. 96–389, set out as an Effective Date note under section 286s of this title.
22 U.S.C. § 286e–10 (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–10. Repealed. Pub. L. 97–35, title XIII, § 1371(a)(1), Aug. 13, 1981, 95 Stat. 746
text: Section, act July 31, 1945, ch. 339, § 31, as added Oct. 10, 1978, Pub. L. 95–435, § 4, 92 Stat. 1052, required an annual report to Congress on the status of internationally recognized human rights in each country which draws on funds under the Supplementary Financing Facility of the International Monetary Fund.
heading: Effective Date of Repeal
text: Repeal effective Aug. 13, 1981, see section 1372 of Pub. L. 97–35, set out as an Effective Date note under section 290i of this title.
22 U.S.C. § 286e–11 (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–11. Assistance by the Fund to any country harboring international terrorists
The Secretary of the Treasury shall instruct the Executive Director of the United States to the International Monetary Fund to work in opposition to any extension of financial or technical assistance by the Supplemental Financing Facility or by any other agency or facility of such Fund to any country the government of which—
(1) permits entry into the territory of such country to any person who has committed an act of international terrorism, including any act of aircraft hijacking, or otherwise supports, encourages, or harbors such person; or
(2) fails to take appropriate measures to prevent any such person from committing any such act outside the territory of such country.
(Pub. L. 95–435, § 6, Oct. 10, 1978, 92 Stat. 1053.)
heading: Codification
text: Section was not enacted as part of act July 31, 1945, ch. 339, 59 Stat. 512, known as the Bretton Woods Agreements Act, which comprises this subchapter.
22 U.S.C. § 286e–12 (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–12. Contribution to Interest Subsidy Account of Enhanced Structural Adjustment Facility of International Monetary Fund
(a) Contribution authorized
(1) In general
Subject to paragraph (2), the United States Governor of the Fund may contribute $150,000,000 to the Interest Subsidy Account of the Enhanced Structural Adjustment Facility of the Fund on behalf of the United States.
(2) Condition
The United States Governor of the Fund may not make a commitment to contribute any amount authorized to be contributed under paragraph (1) before an amount equal to such amount has been appropriated for such purpose.
(b) Limitation on authorization of appropriations
To pay for the contribution authorized by subsection (a) of this section, there are authorized to be appropriated not to exceed $150,000,000, without fiscal year limitation, for payment by the Secretary of the Treasury.
(July 31, 1945, ch. 339, § 54, as added Pub. L. 101–240, title III, § 301, Dec. 19, 1989, 103 Stat. 2500.)
22 U.S.C. § 286e–13 (FOREIGN RELATIONS AND INTERCOURSE)
§ 286e–13. Approval of fund pledge to sell gold to provide resources for Reserve Account of Enhanced Structural Adjustment Facility Trust
The Secretary of the Treasury is authorized to instruct the United States Executive Director of the Fund to vote to approve the Fund’s pledge to sell, if needed, up to 3,000,000 ounces of the Fund’s gold, to restore the resources of the Reserve Account of the Enhanced Structural Adjustment Facility Trust to a level that would be sufficient to meet obligations of the Trust payable to lenders which have made loans to the Loan Account of the Trust that have been used for the purpose of financing programs to Fund members previously in arrears to the Fund.
(July 31, 1945, ch. 339, § 58, as added Pub. L. 102–511, title X, § 1001, Oct. 24, 1992, 106 Stat. 3357.)
22 U.S.C. § 286g (FOREIGN RELATIONS AND INTERCOURSE)
§ 286g. Jurisdiction and venue of actions
For the purpose of any action which may be brought within the United States or its Territories or possessions by or against the Fund or the Bank in accordance with the Articles of Agreement of the Fund or the Articles of Agreement of the Bank, the Fund or the Bank, as the case may be, shall be deemed to be an inhabitant of the Federal judicial district in which its principal office in the United States is located, and any such action at law or in equity to which either the Fund or the Bank shall be a party shall be deemed to arise under the laws of the United States, and the district courts of the United States shall have original jurisdiction of any such action. When either the Fund or the Bank is a defendant in any such action, it may, at any time before the trial thereof, remove such action from a State court into the district court of the United States for the proper district by following the procedure for removal of causes otherwise provided by law.
(July 31, 1945, ch. 339, § 10, 59 Stat. 516.)