22 U.S.C. § 286vv: Capital stock increases

Summary

Allows the United States Governor of the Bank to vote to raise the Bank’s capital and to agree to buy extra shares for the United States, but those purchases only take effect if Congress provides the money in advance. The Governor can vote for a selective increase of 230,374 shares and agree to buy 38,459 additional shares. The Governor can also vote for a general increase of 484,102 shares and agree to buy 81,074 additional shares. Congress authorized money, without a fiscal year limit, for these buys. For the general increase the Treasury may use $9,780,361,991 (of which $586,821,720 is for paid‑in shares and $9,193,540,271 for callable shares). For the selective increase the Treasury may use $4,639,501,466 (of which $278,370,088 is 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)Increases authorized

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)Limitations on authorization of appropriations

(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)—

(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