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22 U.S.C. § 5305 — Reporting requirements
Federal law — U.S. Code and appendices · legal_authorities
**(a) Reports required** In furtherance of the purpose of this chapter, the Secretary, after consultation with the Chairman of the Board, shall submit to the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, on or before October 15 of each year, a written report on international economic policy, including exchange rate policy. The Secretary shall provide a written update of developments six months after the initial report. In addition, the Secretary shall appear, if requested, before both committees to provide testimony on these reports.
**(b) Contents of report** Each report submitted under subsection (a) shall contain—
(1) an analysis of currency market developments and the relationship between the United States dollar and the currencies of our major trade competitors;
(2) an evaluation of the factors in the United States and other economies that underlie conditions in the currency markets, including developments in bilateral trade and capital flows;
(3) a description of currency intervention or other actions undertaken to adjust the actual exchange rate of the dollar;
(4) an assessment of the impact of the exchange rate of the United States dollar on—
(A) the ability of the United States to maintain a more appropriate and sustainable balance in its current account and merchandise trade account;
(B) production, employment, and noninflationary growth in the United States;
(C) the international competitive performance of United States industries and the external indebtedness of the United States;
(5) recommendations for any changes necessary in United States economic policy to attain a more appropriate and sustainable balance in the current account;
(6)
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Source location: Title 22, Chapter 62, § 5305; chapter-062-international-financial-policy.md
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**(a) Reports required** In furtherance of the purpose of this chapter, the Secretary, after consultation with the Chairman of the Board, shall submit to the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, on or before October 15 of each year, a written report on international economic policy, including exchange rate policy. The Secretary shall provide a written update of developments six months after the initial report. In addition, the Secretary shall appear, if requested, before both committees to provide testimony on these reports.
**(b) Contents of report** Each report submitted under subsection (a) shall contain—
(1) an analysis of currency market developments and the relationship between the United States dollar and the currencies of our major trade competitors;
(2) an evaluation of the factors in the United States and other economies that underlie conditions in the currency markets, including developments in bilateral trade and capital flows;
(3) a description of currency intervention or other actions undertaken to adjust the actual exchange rate of the dollar;
(4) an assessment of the impact of the exchange rate of the United States dollar on—
(A) the ability of the United States to maintain a more appropriate and sustainable balance in its current account and merchandise trade account;
(B) production, employment, and noninflationary growth in the United States;
(C) the international competitive performance of United States industries and the external indebtedness of the United States;
(5) recommendations for any changes necessary in United States economic policy to attain a more appropriate and sustainable balance in the current account;
(6) the results of negotiations conducted pursuant to [section 5304 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section5304&num=0&edition=prelim);
(7) key issues in United States policies arising from the most recent consultation requested by the International Monetary Fund under article IV of the Fund’s Articles of Agreement; and
(8) a report on the size and composition of international capital flows, and the factors contributing to such flows, including, where possible, an assessment of the impact of such flows on exchange rates and trade flows.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authorization of United States subscription to stock** The President is authorized to agree to subscribe on behalf of the United States to twenty-nine thousand eight hundred and twenty shares of the capital stock of the Bank: Provided, however, That the subscription shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts.
**(b) Authorization of appropriations** There is authorized to be appropriated, without fiscal year limitation, for payment by the Secretary of the Treasury of the initial United States subscription to twenty-nine thousand eight hundred and twenty shares of the capital stock of the Bank, $359,733,570: Provided, however, That not more than $17,986,679 of such sum may be made available for paid in subscriptions to the Bank for each of the fiscal years 1982, 1983, and 1984.
**(c) Distributions by Bank** Any payment or distributions of moneys from the Bank to the United States shall be covered into the Treasury as a miscellaneous receipt.
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 262q
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Federal law — U.S. Code and appendices · legal_authorities
The oath of office shall be administered by the President of the Senate to each Senator who shall be elected, previous to his taking his seat.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Multilateral negotiations** The President shall seek to confer and negotiate with other countries—
(1) to achieve—
(A) better coordination of macroeconomic policies of the major industrialized nations; and
(B) more appropriate and sustainable levels of trade and current account balances, and exchange rates of the dollar and other currencies consistent with such balances; and
(2) to develop a program for improving existing mechanisms for coordination and improving the functioning of the exchange rate system to provide for long-term exchange rate stability consistent with more appropriate and sustainable current account balances.
**(b) Bilateral negotiations** The Secretary of the Treasury shall analyze on an annual basis the exchange rate policies of foreign countries, in consultation with the International Monetary Fund, and consider whether countries manipulate the rate of exchange between their currency and the United States dollar for purposes of preventing effective balance of payments adjustments or gaining unfair competitive advantage in international trade. If the Secretary considers that such manipulation is occurring with respect to countries that (1) have material global current account surpluses; and (2) have significant bilateral trade surpluses with the United States, the Secretary of the Treasury shall take action to initiate negotiations with such foreign countries on an expedited basis, in the International Monetary Fund or bilaterally, for the purpose of ensuring that such countries regularly and promptly adjust the rate of exchange between their currencies and the United States dollar to permit effective balance of payments adjustments and to eliminate the unfair advantage. The Secretary shall not be required to initiate negotiations in
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 5304
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Federal law — U.S. Code and appendices · legal_authorities
Page 1646
TITLE 22—FOREIGN RELATIONS AND INTERCOURSE
§ 5305
trade. If the Secretary considers that such ma-
nipulation is occurring with respect to countries
that (1) have material global current account
surpluses; and (2) have significant bilateral
trade surpluses with the United States, the Sec-
retary of the Treasury shall take action to ini-
tiate negotiations with such foreign countries
on an expedited basis, in the International Mon-
etary Fund or bilaterally, for the purpose of en-
suring
that
such
countries
regularly
and
promptly adjust the rate of exchange between
their currencies and the United States dollar to
permit effective balance of payments adjust-
ments and to eliminate the unfair advantage.
The Secretary shall not be required to initiate
negotiations in cases where such negotiations
would have a serious detrimental impact on
vital national economic and security interests;
in such cases, the Secretary shall inform the
chairman and the ranking minority member of
the Committee on Banking, Housing, and Urban
Affairs of the Senate and of the Committee on
Banking, Finance and Urban Affairs of the
House of Representatives of his determination.
(Pub. L. 100–418, title III, § 3004, Aug. 23, 1988, 102
Stat. 1373.)
Statutory Notes and Related Subsidiaries
CHANGE OF NAME
Committee on Banking, Finance and Urban Affairs of
House of Representatives treated as referring to Com-
mittee on Banking and Financial Services of House of
Representatives by section 1(a) of Pub. L. 104–14, set
out as a note preceding section 21 of Title 2, The Con-
gress. Committee on Banking and Financial Services of
House of Representatives abolished and replaced by
Committee on Financial Services of House of Rep-
resentatives, and jurisdiction over matters rel
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