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

Summary

Gives the United States Governor of the Bank the power to vote for two increases in the Bank’s capital stock. One is a selective increase of 245,773 shares and the other is a general increase of 230,500 shares. The United States may subscribe for 42,298 extra shares for the selective increase and 38,662 extra shares for the general increase, but those subscriptions only count if Congress provides the money in advance in appropriations Acts. Congress authorizes money, with no fiscal year limit, to pay for those U.S. subscriptions. For the 38,662-share (general) subscription, $4,663,990,370 is authorized: $932,798,074 for paid-in shares and $3,731,192,296 for callable shares. For the 42,298-share (selective) subscription, $5,102,619,230 is authorized: $306,157,153.80 paid-in and $4,796,462,076.20 callable.

Title 22, §286zz

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 245,773 shares; and

(B)to subscribe on behalf of the United States to 42,298 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 the extent or in such amounts as are provided in advance in appropriations Acts; and

(2)(A)to vote in favor of a resolution to increase the capital stock of the Bank on a general basis by 230,500 shares; and

(B)to subscribe on behalf of the United States to 38,662 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 the 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, $4,663,990,370 for payment by the Secretary of the Treasury.

(2)Of the amount authorized to be appropriated under paragraph (1), $932,798,074 shall be for paid in shares of the Bank, and $3,731,192,296 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 $5,102,619,230 for payment by the Secretary of the Treasury.

(4)Of the amount authorized to be appropriated under paragraph (3), $306,157,153.80 shall be for paid in shares of the Bank, and $4,796,462,076.20 shall be for callable shares of the Bank.

Editorial Notes

Codification Another section 73 of the Bretton Woods Agreements Act was enacted by Pub. L. 116–92 and is classified to section 286yy of this title.

§286zz Capital Stock Increases

Summary

Title 22, §286zz

Notes & Related Subsidiaries

Editorial Notes

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