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12 U.S.C. § 5238 — Exchange Stabilization Fund reimbursement

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 5238 — Exchange Stabilization Fund reimbursement

**(a) Reimbursement** The Secretary shall reimburse the Exchange Stabilization Fund established under [section 5302 of title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section5302&num=0&edition=prelim) for any funds that are used for the Treasury Money Market Funds Guaranty Program for the United States money market mutual fund industry, from funds under this chapter. **(b) Limits on use of Exchange Stabilization Fund** The Secretary is prohibited from using the Exchange Stabilization Fund for the establishment of any future guaranty programs for the United States money market mutual fund industry.

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Source location: Title 12, Chapter 52, § 5238; chapter-052-emergency-economic-stabilization.md

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Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 5302 — Stabilizing exchange rates and arrangements

**(a)** (1) The Department of the Treasury has a stabilization fund. The fund is available to carry out this section, section 18 of the Bretton Woods Agreement Act ([22 U.S.C. 286e–3](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section286e–3&num=0&edition=prelim)), section 3 of the Special Drawing Rights Act ([22 U.S.C. 286](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section286&num=0&edition=prelim)o), and the Coronavirus Economic Stabilization Act of 2020, and for investing in obligations of the United States Government those amounts in the fund the Secretary of the Treasury, with the approval of the President, decides are not required at the time to carry out this section. Proceeds of sales and investments, earnings, and interest shall be paid into the fund and are available to carry out this section. However, the fund is not available to pay administrative expenses. (2) Subject to approval by the President, the fund is under the exclusive control of the Secretary, and may not be used in a way that direct control and custody pass from the President and the Secretary. Decisions of the Secretary are final and may not be reviewed by another officer or employee of the Government. **(b)** Consistent with the obligations of the Government in the International Monetary Fund on orderly exchange arrangements and a stable system of exchange rates, the Secretary or an agency designated by the Secretary, with the approval of the President, may deal in gold, foreign exchange, and other instruments of credit and securities the Secretary considers necessary. However, a loan or credit to a foreign entity or government of a foreign country may be made for more than 6 months in any 12-month period only if the President gives Congres

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 5236 — Cooperation with the FBI

Any Federal financial regulatory agency shall cooperate with the Federal Bureau of Investigation and other law enforcement agencies investigating fraud, misrepresentation, and malfeasance with respect to development, advertising, and sale of financial products.

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12 U.S.C. § 5201 — Emergency treatment

All provisions of this chapter are designated as an emergency requirement and necessary to meet emergency needs pursuant to section 204(a) of S. Con. Res 11 So in original. Probably should be followed by a period. 21 (110th Congress), the concurrent resolution on the budget for fiscal year 2008 and rescissions of any amounts provided in this chapter shall not be counted for purposes of budget enforcement.

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 5238 — Study on mark-to-market accounting

Page 1826 TITLE 12—BANKS AND BANKING § 5236 Act is classified to section 343(3) of this title. For fur- ther details, see Codification notes under sections 342 and 343 of this title. § 5236. Exchange Stabilization Fund reimburse- ment (a) Reimbursement The Secretary shall reimburse the Exchange Stabilization Fund established under section 5302 of title 31 for any funds that are used for the Treasury Money Market Funds Guaranty Pro- gram for the United States money market mu- tual fund industry, from funds under this chap- ter. (b) Limits on use of Exchange Stabilization Fund The Secretary is prohibited from using the Ex- change Stabilization Fund for the establishment of any future guaranty programs for the United States money market mutual fund industry. (Pub. L. 110–343, div. A, title I, § 131, Oct. 3, 2008, 122 Stat. 3797.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in subsec. (a), was in the original ‘‘this Act’’ and was translated as reading ‘‘this division’’, meaning div. A of Pub. L. 110–343, Oct. 3, 2008, 122 Stat. 3765, known as the Emergency Economic Sta- bilization Act of 2008, to reflect the probable intent of Congress. For complete classification of division A to the Code, see Short Title note set out under section 5201 of this title and Tables. Statutory Notes and Related Subsidiaries NON-APPLICABILITY OF RESTRICTIONS ON ESF DURING NATIONAL EMERGENCY Pub. L. 116–136, div. A, title IV, § 4015, Mar. 27, 2020, 134 Stat. 481, provided that: ‘‘(a) IN GENERAL.—Section 131 of the Emergency Eco- nomic Stabilization Act of 2008 (12 U.S.C. 5236) shall not apply during the period beginning on the date of enact- ment of this Act [Mar. 27, 2020] and ending on December 31, 2020. Any guarantee established as a result of the a

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