22 U.S.C. § 286ff — Fund interest rates

submitted 81 years ago by Pub. L. 98-181 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 54 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Treasury Secretary must direct the U.S. director at the IMF to push for new IMF policies. These policies should set the interest paid on countries' quota deposits and the interest charged on IMF loans. The goal is to bring both rates closer to market rates.

The Secretary of the Treasury must instruct the United States Executive Director of the International Monetary Fund (the "Fund") to propose and work for changes in Fund policy. Two rates are at stake. The first is the "rate of remuneration" — the interest the Fund pays a member country on the part of its quota subscription the Fund uses. The second is the "rate of charges" — the interest the Fund charges when a country draws (borrows) from the Fund. The Executive Director must push to bring both of these rates closer to normal market interest rates.

the actual law source: uscode.house.gov ↗public domain

The Secretary of the Treasury shall instruct the United States Executive Director of the Fund to propose and work for the adoption of Fund policies regarding the rate of remuneration paid on use of member’s quota subscriptions and the rate of charges on Fund drawings to bring those rates in line with market rates.

Source credit: (July 31, 1945, ch. 339, § 48, as added Pub. L. 98–181, title I [title VIII, § 810], Nov. 30, 1983, 97 Stat. 1274.)

history & why it existsrecord from the source credit

1945Enacted · Pub. L. 98-181 · 97 Stat. 1274

A history note hasn’t been published yet. The record shows enactment by Pub. L. 98-181 on 1945-07-31.

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