dreamproit/uscode huggingface dataset:
22 U.S.C. § 5352 (FOREIGN RELATIONS AND INTERCOURSE)
§ 5352. Quadrennial reports on foreign treatment of United States financial institutions
Not less frequently than every 4 years, beginning December 1, 1990, the Secretary of the Treasury, in conjunction with the Secretary of State, the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Department of Commerce, shall report to the Congress on (1) the foreign countries from which foreign financial services institutions have entered into the business of providing financial services in the United States, (2) the kinds of financial services which are being offered, (3) the extent to which foreign countries deny national treatment to United States banking organizations and securities companies, and (4) the efforts undertaken by the United States to eliminate such discrimination. The report shall focus on those countries in which there are significant denials of national treatment which impact United States financial firms. The report shall also describe the progress of discussions pursuant to section 5353 of this title.
(Pub. L. 100–418, title III, § 3602, Aug. 23, 1988, 102 Stat. 1387.)
22 U.S.C. § 5353 (FOREIGN RELATIONS AND INTERCOURSE)
§ 5353. Fair trade in financial services
(a) Discussions
When advantageous the President or his designee shall conduct discussions with the governments of countries that are major financial centers, aimed at:
(1) ensuring that United States banking organizations and securities companies have access to foreign markets and receive national treatment in those markets;
(2) reducing or eliminating barriers to, and other distortions of, international trade in financial services;
(3) achieving reasonable comparability in the types of financial services permissible for financial service companies; and
(4) developing uniform supervisory standards for banking organizations and securities companies, including uniform capital standards.
(b) Consultation before discussions
Before entering into those discussions, the President or his designee shall consult with the committees of jurisdiction in the Senate and the House of Representatives.
(c) Recommendations
After completing those discussions and after consultation with the committees of jurisdiction, the President shall transmit to the Congress any recommendations that have emerged from those discussions. Any recommendations for changes in United States financial laws or practices shall be accompanied by a description of the changes in foreign financial laws or practices that would accompany action by the Congress, and by an explanation of the benefits that would accrue to the United States from adoption of the recommendations.
(d) Construction of section
Nothing in this section may be construed as prior approval of any legislation which may be necessary to implement any recommendations resulting from discussions under this section.
(Pub. L. 100–418, title III, § 3603, Aug. 23, 1988, 102 Stat. 1387.)
heading: Delegation of Functions
text: Functions of President under this section delegated to Secretary of the Treasury by section 1 of Ex. Ord. No. 12781, Nov. 20, 1991, 56 F.R. 59203, set out as a note under section 301 of Title 3, The President.
22 U.S.C. § 5354 (FOREIGN RELATIONS AND INTERCOURSE)
§ 5354. Banks loan loss reserves
The Federal Reserve Board shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Banking, Finance and Urban Affairs of the House of Representatives a report on the issues raised by including loan loss reserves as part of banks’ primary capital for regulatory purposes by March 31, 1989. Such report shall include a review of the treatment of loan loss reserves and the composition of primary capital of banks in other major industrialized countries, and shall include an analysis as to whether loan loss reserves should continue to be counted as primary capital for regulatory purposes.
(Pub. L. 100–418, title III, § 3604, Aug. 23, 1988, 102 Stat. 1388.)
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. § 5402 (FOREIGN RELATIONS AND INTERCOURSE)
§ 5402. Scope of authority
(a) General authorization
The President is authorized to conduct activities for any East European country that are similar to any activity authorized by this chapter to be conducted in Poland or Hungary (excluding those authorized by section 5412 of this title or the amendments made by sections 301 and 304) if such similar activities would effectively promote a transition to market-oriented democracy.
(b) Administration of justice programs
In order to strengthen the administration of justice in East European countries, the President may exercise the same authorities with respect to those countries as are available under section 2346c of this title, subject to the limitations and requirements of that section, other than subsection (c) and the last two sentences of subsection (e).
(c) “East European country” defined
For purposes of this chapter, the term “East European country” includes Albania, Bulgaria, the Czech and Slovak Federal Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, and states that were part of the former Socialist Federal Republic of Yugoslavia.
(Pub. L. 101–179, § 3, as added Pub. L. 102–511, title IX, § 903(a), Oct. 24, 1992, 106 Stat. 3355.)
heading: References in Text
text: This chapter, referred to in subsecs. (a) and (c), was in the original “this Act”, meaning Pub. L. 101–179, Nov. 28, 1989, 103 Stat. 1298, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 5401 of this title and Tables.
Sections 301 and 304, referred to in subsec. (a), are sections 301 and 304 of Pub. L. 101–179, title III, Nov. 28, 1989, 103 Stat. 1311, 1312. Section 301 amended section 2462 of Title 19, Customs Duties. Section 304 enacted section 2185 of this title, amended section 2184 of this title, and enacted provisions set out as a note under section 2185 of this title.
22 U.S.C. § 5411 (FOREIGN RELATIONS AND INTERCOURSE)
§ 5411. Multilateral support for structural adjustment in Poland and Hungary
(a) Multilateral assistance for Poland and Hungary
(1) In general
To the extent that Poland and Hungary continue to evolve toward pluralism and democracy and to develop and implement comprehensive economic reform programs, the United States Government shall take the leadership in mobilizing international financial institutions, in particular the International Monetary Fund and the International Bank for Reconstruction and Development and its affiliated institutions in the World Bank group, to provide timely and appropriate resources to help Poland and Hungary.
(2) World Bank structural adjustment loan for Poland
In furtherance of paragraph (1), the Secretary of the Treasury shall direct the United States Executive Director of the International Bank for Reconstruction and Development to urge expeditious approval and disbursement by the Bank of a structural adjustment loan to Poland in an appropriate amount in time to facilitate the implementation of major economic reforms scheduled for early 1990, including the termination of energy, export, and agricultural subsidies and wage indexation.
(b) Stabilization assistance, debt relief, and agricultural assistance for Poland
To the extent that Poland continues to evolve toward pluralism and democracy and to develop and implement comprehensive economic reform programs, the United States Government shall do the following:
(1) Stabilization assistance
The United States Government, in conjunction with other member governments of the Organization of Economic Cooperation and Development (OECD) and international financial institutions (including the International Monetary Fund), shall support the implementation of a plan of the Government of Poland to attack hyperinflation and other structural economic problems, address pressing social problems, carry out comprehensive economic reform, and relieve immediate and urgent balance of payments requirements in Poland, through the use of mechanisms such as—
(A) the Exchange Stabilization Fund pursuant to section 5302 of title 31 and in accordance with established Department of the Treasury policies and procedures; and
(B) the authority provided in section 5412(c) of this title.
(2) Debt relief
The United States Government—
(A) shall urge all members of the “Paris Club” of creditor governments and other creditor governments to adopt, and participate in, a generous and early rescheduling program for debts owed by the Government of Poland; and
(B) in coordination with other creditor governments, shall seek to expedite consultations between the Government of Poland and its major private creditors in order to facilitate a rescheduling and reduction of payments due on debt owed to such creditors in a manner consistent with the international debt policy announced by the Secretary of the Treasury on March 10, 1989.
(3) Agricultural assistance
The United States Government shall provide agricultural assistance for Poland in accordance with section 5413 of this title.
(Pub. L. 101–179, title I, § 101, Nov. 28, 1989, 103 Stat. 1302.)
22 U.S.C. § 5412 (FOREIGN RELATIONS AND INTERCOURSE)
§ 5412. Stabilization assistance for Poland
(a) Immediate emergency assistance
To the extent that the ongoing International Monetary Fund review of the Polish economy projects a probable balance of payments shortage for the fourth quarter of 1989, the United States Government, in carrying out paragraph (1) of section 5411(b) of this title—
(1) should work closely with the European Community and international financial institutions to determine the extent of emergency assistance required by Poland for the fourth quarter of 1989, and
(2) should consider extending a bridge loan to relieve immediate and urgent balance of payments requirements using the Exchange Stabilization Fund in accordance with paragraph (1)(A) of section 5411(b) of this title.
(b) Immediate, multilateral response to Poland’s economic stabilization needs
In furtherance of section 5411(b)(1) of this title, the President, acting in coordination with the European Community, should seek to ensure that the industrialized democracies undertake an immediate, multilateral effort to respond to Poland’s request for $1,000,000,000 to support its economic stabilization program.
(c) Additional authority to provide stabilization assistance
(1) Authority
In order to carry out paragraph (1) of section 5411(b) of this title, the President is authorized to furnish assistance for Poland, notwithstanding any other provision of law, to assist in the urgent stabilization of the Polish economy and ultimately to promote longer-term economic growth and stability, based on movement toward free market principles. Such assistance may be provided for balance of payments support (including commodity import programs), support for private sector development, or for other activities to further efforts to develop a free market-oriented economy in Poland.
(2) Authorization of appropriations
For purposes of providing the assistance authorized by this subsection, there are authorized to be appropriated $200,000,000 for fiscal year 1990 to carry out chapter 4 of part II of the Foreign Assistance Act of 1961 (22 U.S.C. 2346 and following; relating to the economic support fund), in addition to amounts otherwise available for such purposes.
(Pub. L. 101–179, title I, § 102, Nov. 28, 1989, 103 Stat. 1303.)
heading: References in Text
text: The Foreign Assistance Act of 1961, referred to in subsec. (c)(2), is Pub. L. 87–195, Sept. 4, 1961, 75 Stat. 424, as amended. Chapter 4 of part II of the Foreign Assistance Act of 1961 is classified to part IV (§ 2346 et seq.) of subchapter II of chapter 32 of this title. For complete classification of this Act to the Code, see Short Title note set out under section 2151 of this title and Tables.
22 U.S.C. § 5414 (FOREIGN RELATIONS AND INTERCOURSE)
§ 5414. Debt-for-equity swaps and other special techniques
(a) Reduction of debt burden
The President shall take all appropriate actions to explore and encourage innovative approaches to the reduction of the government-to-government and commercial debt burden of East European countries which have taken substantive steps toward political democracy and economic pluralism.
(b) Authority for discounted sales of debt
Notwithstanding any other provision of law, the President may undertake the discounted sale, to private purchasers, of United States Government debt obligations of an East European country which has taken substantive steps toward political democracy and economic pluralism, subject to subsection (c) of this section.
(c) Condition
An obligation may be sold under subsection (b) of this section only if the sale will facilitate so-called debt-for-equity or debt-for-development swaps wherein such newly privatized debt is exchanged by the new holder of the obligation for—
(1) local currencies, policy commitments, or other assets needed for development or other economic activities, or
(2) for an equity interest in an enterprise theretofore owned by the particular East European government.
(Pub. L. 101–179, title I, § 104, Nov. 28, 1989, 103 Stat. 1304.)
heading: Delegation of Functions
text: Functions of President under this section delegated to Secretary of the Treasury by section 4 of Ex. Ord. No. 12703, Feb. 20, 1990, 55 F.R. 6351, set out as a note under section 5401 of this title.
22 U.S.C. § 5424 (FOREIGN RELATIONS AND INTERCOURSE)
§ 5424. Peace Corps programs in Poland and Hungary
There are authorized to be appropriated to carry out programs in Poland and Hungary under the Peace Corps Act [22 U.S.C. 2501 et seq.], $6,000,000 for the 3-year period beginning October 1, 1989, in addition to amounts otherwise available for such purposes. Such programs shall include the use of Peace Corps volunteers—
(1) to provide English language training, and
(2) to extend the technical skills described in section 5423(a) of this title to the people of Poland and Hungary, using the Associate Volunteer Program to the extent practicable.
(Pub. L. 101–179, title II, § 204, Nov. 28, 1989, 103 Stat. 1310.)
heading: References in Text
text: The Peace Corps Act, referred to in text, is Pub. L. 87–293, Sept. 22, 1961, 75 Stat. 612, as amended, which is classified principally to chapter 34 (§ 2501 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 2501 of this title and Tables.
22 U.S.C. § 5425 (FOREIGN RELATIONS AND INTERCOURSE)
§ 5425. Use of Polish currency generated by agricultural assistance
(a) Additional assistance for Poland
A portion of the agricultural commodities described in subsection (c) of this section may be made available and sold or bartered in Poland to generate local currencies to be used—
(1) to complement the assistance for Poland authorized by sections 5413(b), 5421, and 5423 of this title, and
(2) to support the activities of the joint commission established pursuant to section 2226 of the American Aid to Poland Act of 1988 (7 U.S.C. 1431 note),
notwithstanding section 1431(b)(7) of title 7 or any other provision of law.
(b) Emphasis on agricultural development
The uses of local currencies generated under this section should emphasize the development of agricultural infrastructure, agriculture-related training, and other aspects of agricultural development in Poland.
(c) Commodities subject to requirements
Subsection (a) of this section applies with respect to agricultural commodities made available for Poland for fiscal years 1990, 1991, and 1992 under section 1431(b) of title 7, the Food for Peace Act (7 U.S.C. 1691 and following), and section 1736o of title 7.
(d) Other uses not precluded
The uses of agricultural commodities and local currencies specified in subsection (a) of this section are in addition to other uses authorized by law.
(Pub. L. 101–179, title II, § 205, Nov. 28, 1989, 103 Stat. 1310; Pub. L. 110–246, title III, § 3001(b)(1)(A), (2)(U), June 18, 2008, 122 Stat. 1820, 1821.)
heading: References in Text
text: Section 2226 of the American Aid to Poland Act of 1988, referred to in subsec. (a)(2), is section 2226 of Pub. L. 100–418, which is set out as a note under section 1431 of Title 7, Agriculture.
The Food for Peace Act, referred to in subsec. (c), is act July 10, 1954, ch. 469, 68 Stat. 454, which is classified generally to chapter 41 (§ 1691 et seq.) of Title 7. For complete classification of this Act to the Code, see Short Title note set out under section 1691 of Title 7 and Tables.
heading: Amendments
text: 2008—Subsec. (c). Pub. L. 110–246 substituted “Food for Peace Act” for “Agricultural Trade Development and Assistance Act of 1954”.
heading: Effective Date of 2008 Amendment
text: Amendment by Pub. L. 110–246 effective May 22, 2008, see section 4(b) of Pub. L. 110–246, set out as an Effective Date note under section 8701 of Title 7, Agriculture.
22 U.S.C. § 5426 (FOREIGN RELATIONS AND INTERCOURSE)
§ 5426. United States policy of private financial support for Polish and Hungarian credit unions
(a) In general
In order to facilitate the development of indigenous credit unions in Poland and Hungary, it is the policy of the United States that—
(1) United States citizens, financial institutions (other than federally insured depository institutions), and other persons may make contributions and loans to, make capital deposits in, and provide other forms of financial and technical assistance to credit unions in Poland and Hungary; and
(2) federally insured depository institutions may provide technical assistance to credit unions in Poland and Hungary, to the extent that the provision of such assistance is prudent and not inconsistent with safe and sound banking practice.
(b) Omitted
(c) Definitions
For purposes of subsection (a) of this section—
(1) the term “credit union” means a member-owned, nonprofit, cooperative depository institution—
(A) which is formed to permit individuals in the field of membership specified in such institution’s charter to pool their savings, lend the savings to one another, and own the organization where they save, borrow, and obtain related financial services; and
(B) whose members are united by a common bond and democratically operate the institution; and
(2) the term “federally insured depository institution” means—
(A) any insured depository institution (as defined in section 1813(c)(2) of title 12); and
(B) any insured credit union (as defined in section 1752(7) of title 12).
(Pub. L. 101–179, title II, § 206, Nov. 28, 1989, 103 Stat. 1310.)
heading: Codification
text: Section is comprised of section 206 of Pub. L. 101–179. Subsec. (b) of section 206 of Pub. L. 101–179 amended section 1757 of Title 12, Banks and Banking.
22 U.S.C. § 5441 (FOREIGN RELATIONS AND INTERCOURSE)
§ 5441. Educational and cultural exchanges and sister institutions programs with Poland and Hungary
(a) Educational and cultural exchanges
(1) Support for expanded U.S. participation
The United States should expand its participation in educational and cultural exchange activities with Poland and Hungary, using the full array of existing government-funded and privately-funded programs, with particular emphasis on the J. William Fulbright Educational Exchange Program, the International Visitors Program, the Samantha Smith Memorial Exchange Program, the exchange programs of the National Academy of Sciences, youth and student exchanges through such private organizations as The Experiment in International Living, The American Field Service Committee, and Youth for Understanding, and research exchanges sponsored by the International Research and Exchanges Board (IREX).
(2) Emphasis on skills in business and economics
The United States should place particular emphasis on expanding its participation in educational exchange activities that will assist in developing the skills in business and economics that are necessary for the development of a free market economy in Poland and Hungary.
(b) Binational Fulbright commissions
The United States should take all appropriate action to establish binational Fulbright commissions with Poland and Hungary in order to facilitate and enhance academic and scholarly exchanges with those countries.
(c) Reciprocal cultural centers
The President should consider the establishment of reciprocal cultural centers in Poland and the United States and in Hungary and the United States to facilitate government-funded and privately-funded cultural exchanges.
(d) Sister institutions programs
The President shall act to encourage the establishment of “sister institution” programs between American and Polish organizations and between American and Hungarian organizations, including such organizations as institutions of higher education, cities and towns, and organizations in such fields as medicine and health care, business management, environmental protection, and agricultural research and marketing.
(e) Authorization of appropriations
To enable the United States Information Agency to support the activities described in this section, there are authorized to be appropriated $12,000,000 for the 3-year period beginning October 1, 1989, in addition to amounts otherwise available for such purposes.
(Pub. L. 101–179, title IV, § 401, Nov. 28, 1989, 103 Stat. 1314.)
heading: Transfer of Functions
text: United States Information Agency (other than Broadcasting Board of Governors and International Broadcasting Bureau) abolished and functions transferred to Secretary of State, see sections 6531 and 6532 of this title.
22 U.S.C. § 5443 (FOREIGN RELATIONS AND INTERCOURSE)
§ 5443. Science and technology exchange with Poland and Hungary
(a) Agreement with Poland
There are authorized to be appropriated to the Secretary of State for purposes of continuing to implement the 1987 United States-Polish science and technology agreement—
(1) $1,500,000 for fiscal year 1990,
(2) $2,000,000 for fiscal year 1991, and
(3) $2,000,000 for fiscal year 1992.
(b) Agreement with Hungary
There are authorized to be appropriated to the Secretary of State for purposes of implementing the 1989 United States-Hungarian science and technology agreement—
(1) $500,000 for fiscal year 1990,
(2) $1,000,000 for fiscal year 1991, and
(3) $1,000,000 for fiscal year 1992.
(c) Definition of agreements being funded
For purposes of this section—
(1) the term “1987 United States-Polish science and technology agreement” refers to the agreement concluded in 1987 by the United States and Poland, entitled “Agreement Between the Government of the United States of America and the Polish People’s Republic on Cooperation in Science and Technology and Its Funding”, together with annexes relating thereto; and
(2) the term “1989 United States-Hungarian science and technology agreement” refers to the agreement concluded in 1989 by the United States and Hungary, entitled “Agreement Between the Government of the United States of America and the Government of the Hungarian People’s Republic for Scientific and Technology Cooperation”, together with annexes relating thereto.
(Pub. L. 101–179, title IV, § 403, Nov. 28, 1989, 103 Stat. 1316.)