12 U.S.C. § 5222 — Coordination with foreign authorities and central banks
submitted 18 years ago by Pub. L. 110-343 to r/title-12-BANKS-AND-BANKING · 70 words · no verdicts yet
This section addresses Coordination with foreign authorities and central banks. It sets out the rules, permissions, duties, definitions, and exceptions stated in the section.
The Secretary* must coordinate, as appropriate, with foreign financial authorities and central banks to work toward the establishment of similar programs by that authorities and central banks. To the extent that that foreign financial authorities or banks hold troubled assets* as a result of extending financing to financial institutions that have failed or defaulted on that financing, that troubled assets qualify for purchase under section 5211 of this title.
The Secretary* shall coordinate, as appropriate, with foreign financial authorities and central banks to work toward the establishment of similar programs by such authorities and central banks. To the extent that such foreign financial authorities or banks hold troubled assets* as a result of extending financing to financial institutions that have failed or defaulted on such financing, such troubled assets qualify for purchase under section 5211 of this title.
Source credit: (Pub. L. 110–343, div. A, title I, § 112, Oct. 3, 2008, 122 Stat. 3777.)
- 2008Enacted · Pub. L. 110-343 · 122 Stat. 3777
A history note hasn’t been published yet. The record shows enactment by Pub. L. 110-343 on 2008-10-03.
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