FEDERAL · 22 U.S.C. · Chapter 7
Fund bailouts of banks; rescheduling of debt
22 U.S.C. § 286dd
Title22 — Foreign Relations and Intercourse
Chapter7 — INTERNATIONAL BUREAUS, CONGRESSES, ETC.
SubchapterXV
Current throughPub. L. 119-99
This text of 22 U.S.C. § 286dd (Fund bailouts of banks; rescheduling of debt) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
22 U.S.C. § 286dd.
Text
The Secretary of the Treasury shall instruct the United States Executive Director of the Fund—
(1)to oppose and vote against any Fund drawing by a member country where, in his judgment, the Fund resources would be drawn principally for the purpose of repaying loans which have been imprudently made by banking institutions to the member country; and
(2)to work to insure that the Fund encourages borrowing countries and banking institutions to negotiate, where appropriate, a rescheduling of debt which is consistent with safe and sound banking practices and the country's ability to pay.
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Related
Elliott Associates, L.P. v. Republic of Peru
948 F. Supp. 1203 (S.D. New York, 1996)
Pravin Banker Associates, Ltd. v. Banco Popular Del Peru
165 B.R. 379 (S.D. New York, 1994)
Source Credit
History
(July 31, 1945, ch. 339, §46, as added Pub. L. 98–181, title I [title VIII, §807], Nov. 30, 1983, 97 Stat. 1273.)
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Bluebook (online)
22 U.S.C. § 286dd, Counsel Stack Legal Research, https://law.counselstack.com/usc/22/286dd.