Title 22, Foreign Relations and IntercourseRelease 119-102

§286k–1 Securities Issued by Bank as Exempt Securities; Reports Filed with Security and Exchange Commission

Title 22 › CHAPTER 7 — INTERNATIONAL BUREAUS, CONGRESSES, ETC. › SUBCHAPTER XV — INTERNATIONAL MONETARY FUND AND BANK FOR RECONSTRUCTION AND DEVELOPMENT › § 286k–1

Last updated Aug 21, 2026|Official source

Summary

Any bonds or guarantees issued by the International Bank for Reconstruction and Development (IBRD), including guarantees that cover both principal and interest, are treated as exempt under two parts of U.S. securities law (15 U.S.C. 77c(a)(2) and 78c(a)(12)). The IBRD must file yearly and other reports with the Securities and Exchange Commission when the Commission decides those reports are needed because of the bank’s special role and to protect investors and the public. Subsection (b) was repealed by Public Law 101–240 on December 19, 1989 (103 Stat. 2518).

Full Legal Text

Title 22, §286k–1

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)Any securities issued by International Bank for Reconstruction and Development (including any guaranty by the bank, whether or not limited in scope), and any securities guaranteed by the bank as to both principal and interest, shall be deemed to be exempted securities within the meaning of subsection (a)(2) of section 77c of title 15, and subsection (a)(12) of section 78c of title 15. The bank shall file with the Securities and Exchange Commission such annual and other reports with regard to such securities as the Commission shall determine to be appropriate in view of the special character of the bank and its operations and necessary in the public interest or for the protection of investors.

(b)Repealed. Pub. L. 101–240, title V, § 541(d)(1), Dec. 19, 1989, 103 Stat. 2518.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

1989—Subsec. (b). Pub. L. 101–240 struck out subsec. (b) which related to contents of National Advisory Council reports provided for in section 286b of this title.

Reference

Citations & Metadata

Citation

22 U.S.C. § 286k–1

Title 22, Foreign Relations and Intercourse

Last Updated

Aug 21, 2026

Release point: 119-102