§ 404. REPORTS BY THE SECRETARY OF THE TREASURY.
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/usc/title-31/section-404A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Reporting Requirement .— Beginning on the last day of the first month which begins after the date of enactment of this Act [ Apr. 10, 1995 ], and on the last day of every month thereafter, the Secretary of the Treasury shall submit to the appropriate congressional committees a report concerning all guarantees issued to, and short-term and long-term currency swaps with, the Government of Mexico by the United States Government, including the Board of Governors of the Federal Reserve System. Contents of Reports .— Each report described in subsection
(a)shall include a description of the following actions taken, or economic situations existing, during the month in which the report is required to be submitted: The current condition of the Mexican economy. The reserve positions of the central bank of Mexico and data relating to the functioning of Mexican monetary policy. The amount of any funds disbursed from the exchange stabilization fund pursuant to the program of assistance to the Government of Mexico approved by the President on January 31, 1995 . The amount of any funds disbursed by the Board of Governors of the Federal Reserve System pursuant to the program of assistance referred to in paragraph (3). Financial transactions, both inside and outside of Mexico, made during the reporting period involving funds disbursed to Mexico from the exchange stabilization fund or proceeds of Mexican Government securities guaranteed by the exchange stabilization fund. All outstanding guarantees issued to, and short-term and medium-term currency swaps with, the Government of Mexico by the Secretary of the Treasury, set forth by category of financing. All outstanding currency swaps with the central bank of Mexico by the Board of Governors of the Federal Reserve System and the rationale for, and any expected costs of, such transactions. The amount of payments made by customers of Mexican petroleum companies that have been deposited in the account at the Federal Reserve Bank of New York established to ensure repayment of any payment by the United States Government, including the Board of Governors of the Federal Reserve System, in connection with any guarantee issued to, or any swap with, the Government of Mexico. Any setoff by the Federal Reserve Bank of New York against funds in the account described in paragraph (8). To the extent such information is available, once there has been a setoff by the Federal Reserve Bank of New York, any interruption in deliveries of petroleum products to existing customers whose payments were setoff. The interest rates and fees charged to compensate the Secretary of the Treasury for the risk of providing financing.