22 U.S.C. § 5305 — Reporting requirements
submitted 38 years ago by Pub. L. 100-418 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 350 words · no verdicts yet
The Secretary must submit an annual report to two congressional committees on international economic policy, including exchange rates, and an update six months later. The report must address the listed currency, economic, trade, capital-flow, policy, and IMF topics.
(a) After consulting the Board* Chairman*, the Secretary* must submit by October 15 each year a written international-economic-policy report, including exchange-rate policy, to the House Banking, Finance and Urban Affairs Committee and Senate Banking, Housing, and Urban Affairs Committee. Six months later the Secretary must give a written developments update and must testify before both committees if requested. (b) Each report must contain (1) currency-market developments and the dollar’s relationship to major trade competitors’ currencies; (2) United States and foreign economic factors underlying currency conditions, including bilateral trade and capital flows; (3) currency intervention or other actions to adjust the dollar’s actual rate; (4) the dollar rate’s effect on (A) sustainable current-account and merchandise-trade balance, (B) United States production, employment, and noninflationary growth, and (C) United States industries’ international competitiveness and United States external debt; (5) needed policy changes for a sustainable current-account balance; (6) results of section 5304 negotiations; (7) key United States policy issues from the latest IMF article IV consultation; and (8) the size, composition, causes, and, when possible, exchange-rate and trade-flow effects of international capital flows.
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.
Each report submitted under subsection (a) shall contain—
an analysis of currency market developments and the relationship between the United States dollar and the currencies of our major trade competitors;
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;
a description of currency intervention or other actions undertaken to adjust the actual exchange rate of the dollar;
an assessment of the impact of the exchange rate of the United States dollar on—
the ability of the United States to maintain a more appropriate and sustainable balance in its current account and merchandise trade account;
production, employment, and noninflationary growth in the United States;
the international competitive performance of United States industries and the external indebtedness of the United States;
recommendations for any changes necessary in United States economic policy to attain a more appropriate and sustainable balance in the current account;
the results of negotiations conducted pursuant to section 5304 of this title;
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
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.
Source credit: (Pub. L. 100–418, title III, § 3005(a), (b), Aug. 23, 1988, 102 Stat. 1374.)
- 1988Enacted · Pub. L. 100-418 · 102 Stat. 1374
A history note hasn’t been published yet. The record shows enactment by Pub. L. 100-418 on 1988-08-23.
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