§ 286dd. Fund bailouts of banks; rescheduling of debt

119 words·~1 min read·/usc/title-22/section-286dd

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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.

(July 31, 1945, ch. 339, § 46, as added Pub. L. 98–181, title I [title VIII, § 807], Nov. 30, 1983, 97 Stat. 1273.)

Connections2 cite this

Cited by 2 sections

statutes-at-large

Public Law 98–181
Making supplemental appropriations for the fiscal year ending September 30, 1984, and for other purposes

statute-compilations

Sec. 46.72
opposing fund bailouts of banks

3 references not yet in our index

July 31, 1945, ch. 339, § 46
Pub. L. 98–181, title I
97 Stat. 1273

Citation graph

cites case law

§ 286dd

Fund bailouts of banks; rescheduling of debt

Stat. Comp.×1

Stat.×1

ActJuly 31, 1945, ch. 339, § 46

Pub. L.Pub. L. 98–181, title I

Stat.97 Stat. 1273

Cites 3Cited by 2 across 2 sources