Title 22, Foreign Relations and IntercourseRelease 119-110

§290o–7 Exemption From Securities Laws for Certain Securities Issued by Bank; Reports Required

Title 22 › CHAPTER 7 — INTERNATIONAL BUREAUS, CONGRESSES, ETC. › SUBCHAPTER XXX — MIDDLE EAST DEVELOPMENT BANK › § 290o–7

Last updated Sep 22, 2026|Official source

Summary

The Bank’s securities and any guarantees it makes for borrowing or to cover principal and interest are treated as exempt from some federal securities laws. The Bank must still file annual and other reports with the Securities and Exchange Commission that the Commission thinks are needed because the Bank is unique and to protect the public. The Securities and Exchange Commission, after consulting a person or agency the President names, can pause that exemption at any time for any or all of the Bank’s securities for the length of the pause. The Commission must include useful information about how this rule works and its effects in its annual report to Congress.

Full Legal Text

Title 22, §290o–7

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)Exemption from securities laws; reports to Securities and Exchange Commission

Any securities issued by the Bank (including any guaranty by the Bank, whether or not limited in scope) in connection with borrowing of funds, or the guarantee of securities as to both principal and interest, shall be deemed to be exempted securities within the meaning of section 77c(a)(2) of title 15 and section 78c(a)(12) 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)Authority of Securities and Exchange Commission to suspend exemption; reports to Congress

The Securities and Exchange Commission, acting in consultation with such agency or officer as the President shall designate, may suspend the provisions of subsection (a) at any time as to any or all securities issued or guaranteed by the Bank during the period of such suspension. The Commission shall include in its annual reports to the Congress such information as it shall deem advisable with regard to the operations and effect of this section.

Reference

Citations & Metadata

Citation

22 U.S.C. § 290o–7

Title 22, Foreign Relations and Intercourse

Last Updated

Sep 22, 2026

Release point: 119-110