Sec. 5. Congressional notification with respect to exceptional access lending

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The Bretton Woods Agreements Act ( 22 U.S.C. 286–286xx ), as amended by section 2 of this Act, is amended by adding at the end the following: The United States Executive Director at the International Monetary Fund may not support any proposal that would alter the criteria used by the Fund for exceptional access lending if the proposal would permit a country that is ineligible, before the proposed alteration, to receive exceptional access lending, unless, not later than 30 days before consideration of the proposal by the Board of Executive Directors of the Fund, the Secretary of the Treasury has submitted to the Committee on Financial Services and the Committee on Foreign Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs and the Committee on Foreign Relations of the Senate a report on the justification for the proposal and the effects of the proposed alteration on moral hazard and repayment risk at the Fund. .

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22 USC 286–286xx

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Sec. 5

Congressional notification with respect to exceptional access lending

Cite22 USC 286–286xx

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