§286vv — Title 22 Foreign Relations and Intercourse | U.S. Code

Summary

The U.S. Governor at the Bank may vote to raise the Bank’s shares in two ways. One is a selective increase of 230,374 shares, and the United States may subscribe to 38,459 of those shares, but the U.S. can only buy them if Congress provides the money ahead of time. The other is a general increase of 484,102 shares, and the United States may subscribe to 81,074 of those, again only if Congress approves the funds in advance. To pay for the 81,074 shares, up to $9,780,361,991 can be provided, without a time limit, for the Treasury Secretary to pay: $586,821,720 for paid‑in shares and $9,193,540,271 for callable shares. To pay for the 38,459 shares, up to $4,639,501,466 can be provided for the Treasury Secretary: $278,370,088 for paid‑in shares and $4,361,131,378 for callable shares.

Title 22, §286vv

Foreign Relations and Intercourse — Source: USLM XML via OLRC

(a)The United States Governor of the Bank is authorized—

(1)(A)to vote in favor of a resolution to increase the capital stock of the Bank on a selective basis by 230,374 shares; and

(B)to subscribe on behalf of the United States to 38,459 additional shares of the capital stock of the Bank, as part of the selective increase in 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;

(2)(A)to vote in favor of a resolution to increase the capital stock of the Bank on a general basis by 484,102 shares; and

(B)to subscribe on behalf of the United States to 81,074 additional shares of the capital stock of the Bank, as part of the general increase in 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)(1)In order to pay for the increase in the United States subscription to the Bank under subsection (a)(2)(B), there are authorized to be appropriated, without fiscal year limitation, $9,780,361,991 for payment by the Secretary of the Treasury.

(2)Of the amount authorized to be appropriated under paragraph (2)(A)— 11 So in original. Probably should be “paragraph (1)—”.

(A)$586,821,720 shall be for paid in shares of the Bank; and

(B)$9,193,540,271 shall be for callable shares of the Bank.

(3)In order to pay for the increase in the United States subscription to the Bank under subsection (a)(1)(B), there are authorized to be appropriated, without fiscal year limitation, $4,639,501,466 for payment by the Secretary of the Treasury.

(4)Of the amount authorized to be appropriated under paragraph (3), $278,370,088 shall be for paid in shares of the Bank, and $4,361,131,378 shall be for callable shares of the Bank.

Editorial Notes

Amendments

2013—Subsec. (b)(3), (4). Pub. L. 113–6 added pars. (3) and (4).

§286vv Capital stock increases

Summary

Title 22, §286vv

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata