2013 US Code
Title 22 - Foreign Relations and Intercourse
Chapter 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC. (§§ 261 - 290q)
Subchapter XV - INTERNATIONAL MONETARY FUND AND BANK FOR RECONSTRUCTION AND DEVELOPMENT (§§ 286 - 286vv)
Section 286dd - Fund bailouts of banks; rescheduling of debt
| Publication Title | United States Code, 2012 Edition, Supplement 1, Title 22 - FOREIGN RELATIONS AND INTERCOURSE |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 22 - FOREIGN RELATIONS AND INTERCOURSE CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC. SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR RECONSTRUCTION AND DEVELOPMENT Sec. 286dd - Fund bailouts of banks; rescheduling of debt |
| Contains | section 286dd |
| Date | 2013 |
| Laws in Effect as of Date | January 16, 2014 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | July 31, 1945, ch. 339, §46, as added Pub. L. 98-181, title I [title VIII, §807], Nov. 30, 1983, 97 Stat. 1273. |
| Statutes at Large Reference | 97 Stat. 1273 |
| Public Law Reference | Public Law 98-181 |
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The Secretary of the Treasury shall instruct the United States Executive Director of the Fund—
(1) to oppose and vote against any Fund drawing by a member country where, in his judgment, the Fund resources would be drawn principally for the purpose of repaying loans which have been imprudently made by banking institutions to the member country; and
(2) to work to insure that the Fund encourages borrowing countries and banking institutions to negotiate, where appropriate, a rescheduling of debt which is consistent with safe and sound banking practices and the country's ability to pay.
(July 31, 1945, ch. 339, §46, as added Pub. L. 98–181, title I [title VIII, §807], Nov. 30, 1983, 97 Stat. 1273.)
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