22 U.S.C. § 286ss: Acceptance of amendment to…

Summary

The U.S. Governor may accept the Fund’s amendment that the Board approved on October 22, 1997. Within one year of that acceptance, the Secretary of the Treasury must report to the appropriate congressional committees on Special Drawing Rights (SDRs), including how countries under Article XIX, Section 2(c) obtain and use SDRs and whether and how countries with balance-of-payments problems convert SDRs into reserve currencies.

Title 22, §286ss

Foreign Relations and Intercourse, Source: USLM XML via OLRC

The United States Governor of the Fund may agree to and accept the amendment to the Articles of Agreement of the Fund as proposed in the resolution numbered 52–4 of the Board of Governors of the Fund which was approved by such Board on October 22, 1997: Provided, That not more than one year after the acceptance of such amendments to the Fund’s Articles of Agreement, the Secretary of the Treasury shall submit a report to the appropriate congressional committees analyzing Special Drawing Rights, to include a discussion of how those countries that significantly use or acquire Special Drawing Rights in accordance with Article XIX, section 2(c), use or acquire them; the extent to which countries experiencing balance of payment difficulties exchange or use their Special Drawing Rights to acquire reserve currencies; and the manner in which those reserve currencies are acquired when utilizing Special Drawing Rights.

Notes & Related Subsidiaries

Editorial Notes

Amendments

2009—Pub. L. 111–117 substituted “resolution numbered 52–4” for “resolution numbered 54–4”.

Statutory Notes and Related Subsidiaries

Effective Date

of 2009 Amendment Pub. L. 111–117, div. F, title VII, § 7034(q)(1)(B), Dec. 16, 2009, 123 Stat. 3363, provided that: “The amendment made by subparagraph (A) [amending this section] shall take effect as if included in the enactment of section 1402 of Public Law 111–32.”

§286ss Acceptance of Amendment to Articles of Agreement of Fund Approved on October 22, 1997