§286e–1h Increase of Subscription of Stock; Authority of United States Governor of Bank; Authorization of Appropriations

Summary

The United States Governor of the Bank may vote to add 365,000 shares to the Bank’s authorized stock, and the United States may buy up to 73,010 of those shares. Up to 7.5% of the share price — $658,305,195 — can be paid in when the shares are bought. The rest, $8,149,256,155, can only be called later if the Bank needs money to meet obligations for funds it borrowed or for loans it guaranteed. That leftover money cannot be used for the Bank’s lending programs or for administrative costs. Any purchase of these extra shares only takes effect if Congress provides the money in advance. To pay the paid-in amount, Congress may appropriate $658,305,195 to the Treasury without a fiscal year limit. No more than $109,720,549 of that total may be made available in each of fiscal years 1982, 1983, and 1984.