An Act to authorize the acceptance of a settlement of certain indebtedness of Greece to the United States and to authorize the use of the payments resulting from the settlement for a cultural and educational exchange program
PL 89-766 (S.1760), enacted 11/05/1966

1314 
PUBLIC LAW 89-765-NOV. 5, 1966 
[80 STAT. 
Public Law 89-765 
; v; :^' ., 
Novembers, 1966 
- ^ ^ A C T 
[S.1556] 
rpQ authorize the Board of Governors of the Federal Reserve System to delegate 
certain of its functions, and for other purposes. 
Federal Reserve 
System. 
5 u s e 1001 note. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled^ That section 11 of 
Board o
f Gover- the Federal Keserve Act (12 U.S.C. 248) is amended by adding after 
""a's'starSr* 
subsection (j) the following subsection: 
76 Stat. 670. ' 
"(k) To delegate, by published order or rule and subject to the 
60 Stat. 237. 
Administrative Procedure Act, any of its functions, other than those 
relating to rulemaking or pertaining principally to monetary and 
credit policies, to one or more hearing examiners, members or 
employees of the Board, or Federal Reserve banks. The assignment 
of responsibility for the performance of any function that the Board 
determines to delegate shall be a function of the Chairman. The 
Board shall, upon the vote of one member, review action taken at a 
delegated level w ithin such time and in such manner as the Board shall 
by rule prescribe." 
Approved November 5, 1966. 
Public Law 89-766 
November 5, 1966 
A N A C T 
'- 
^ 
To authorize the acceptance of a settlement of certain indebtedness of Greece 
to the United States and to authorize the use of the payments resulting from 
the settlement for a cultural and educational exchange program. 
Greek Loan of 
1929 Settle 
Be it endcted 'by the Senate and House of Representatives 
of the 
.,^. ^.....^ 
77m^ec? States of America in Congress assembled^ That this Act may 
ment A
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t
V 
bc cited as the "Greek Loan of 1929 Settlement Act". 
SEC. 2. The Secretary of the Treasury is hereby authorized to accept 
a bond from the Kingdom of Greece (hereinafter referred to as 
"Greece") in the principal amount of $13,155,921 in settlement of the 
indebtedness of Greece to the United States under part I I of the agree-
ment of May 10, 1929, and under paragraph 1(b) of the agreement of 
May 24, 1932. The terms and conditions of such bond shall be those 
set forth in the agreement between the United States and Greece of 
Majr 28, 1964. Upon the delivery of said bond by Greece to the 
United States, the Secretary of the Treasury is hereby authorized to 
surrender to Greece all the bonds issued pursuant to part I I of the 
agreement of May 10, 1929, and discharge Greece of its obligations 
under paragraph 1(b) of the agreement of May 24, 1932. 
SEC. 3. The sums paid by Greece to the United States as interest 
on or in retirement of the principal of the bond issued as provided in 
section 2 shall be deposited in the Treasury of the United States. 
Amounts equivalent to the sums so deposited are hereby authorized 
to be appropriated for use in financing educational and cultural 
exchange programs authorized by the Mutual Educational and Cul-
75 Stat. 527. 
tural Exchange Act of 1961, as amended (22 U.S.C. 2451-2458), in 
relation to Greece and the people of Greece. 
Approved November 5, 1966.