Supplementary Financing Facility

22 U.S.C. § 286e–7

• Title: 22 — Foreign Relations and Intercourse
• Chapter: 7 — INTERNATIONAL BUREAUS, CONGRESSES, ETC.
• Subchapter: XV
• Current through: Pub. L. 119-99

Text

(a) Availability of resources
For the purpose of participation of the United States in the Supplementary Financing Facility (hereinafter referred to as the "facility") established by the decision numbered 5508–(77/127) of the Executive Directors of the Fund, the Secretary of the Treasury is authorized to make resources available as provided in the decision numbered 5509–(77/127) of the Fund, in an amount not to exceed the equivalent of 1,450 million Special Drawing Rights.
(b) Adjustments in the value of monetary assets
The Secretary of the Treasury shall account, through the fund established by section 5302 of title 31, for any adjustment in the value of monetary assets held by the United States in respect of United States participation in the facility.
(c) Authorization of appropriations
Notwithstanding any other provision of this section, the authority of the Secretary to enter into agreements making resources available under this section shall be limited to such amounts as are appropriated in advance in appropriation Acts. Effective October 1, 1978, there are hereby authorized to be appropriated to the Secretary of the Treasury, without fiscal year limitation, such sums as are necessary to carry out subsection (a) of this section, but not to exceed an amount of dollars equivalent to 1,450 million Special Drawing Rights.

History

(July 31, 1945, ch. 339, §28, as added Pub. L. 95–435, §1, Oct. 10, 1978, 92 Stat. 1051.)

Editorial Notes

Editorial Notes

Codification
In subsec. (b), "section 5302 of title 31" substituted for "section 10 of the Gold Reserve Act of 1934, as amended (31 U.S.C. 822a)" on authority of Pub. L. 97–258, §4(b), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Finance.