Collapse to view only § 290l-3. Federal Reserve banks as depositories
- § 290l. Acceptance of membership
- § 290l-1. Governor and alternate Governor
- § 290l-2. Applicability of certain provisions of Bretton Woods Agreements Act
- § 290l-3. Federal Reserve banks as depositories
- § 290l-4. Subscription of stock
- § 290l-5. Jurisdiction and venue of civil actions by or against Bank
- § 290l-6. Effectiveness of Agreement
- § 290l-7. Exemption from securities laws for certain securities issued by Bank; reports required
- § 290l-8. Congressional consultations
- § 290l-9. Capital increase
§ 290l. Acceptance of membership
The President is hereby authorized to accept membership for the United States in the European Bank for Reconstruction and Development (in this subchapter referred to as the “Bank”) provided for by the agreement establishing the Bank (in this subchapter referred to as the “Agreement”), signed on May 29, 1990.
(Pub. L. 101–513, title V, § 562(c)(2), Nov. 5, 1990, 104 Stat. 2034.)
§ 290l–1. Governor and alternate Governor
(a) Appointment
(b) Compensation
(Pub. L. 101–513, title V, § 562(c)(3), Nov. 5, 1990, 104 Stat. 2034.)
§ 290l–2. Applicability of certain provisions of Bretton Woods Agreements Act
Section 286b of this title shall apply to the Bank in the same manner in which such section applies to the International Bank for Reconstruction and Development and the International Monetary Fund.
(Pub. L. 101–513, title V, § 562(c)(4), Nov. 5, 1990, 104 Stat. 2034.)
§ 290l–3. Federal Reserve banks as depositories
Any Federal Reserve Bank 1
1 So in original. Probably should not be capitalized.
which is requested to do so by the Bank may act as its depository, or as its fiscal agent, and the Board of Governors of the Federal Reserve System shall exercise general supervision over the carrying out of these functions.(Pub. L. 101–513, title V, § 562(c)(5), Nov. 5, 1990, 104 Stat. 2034.)
§ 290l–4. Subscription of stock
(a) Subscription authority
(1) In general
(2) Effectiveness of subscription commitment
(b) Limitations on authorization of appropriations
(c) Disposition of net income distributions by Bank
(Pub. L. 101–513, title V, § 562(c)(6), Nov. 5, 1990, 104 Stat. 2034.)
§ 290l–5. Jurisdiction and venue of civil actions by or against Bank
(a) Jurisdiction
(b) Venue
(Pub. L. 101–513, title V, § 562(c)(7), Nov. 5, 1990, 104 Stat. 2035.)
§ 290l–6. Effectiveness of Agreement
The Agreement shall have full force and effect in the United States, its territories and possessions, and the Commonwealth of Puerto Rico, upon acceptance of membership by the United States in the Bank and the entry into force of the Agreement.
(Pub. L. 101–513, title V, § 562(c)(8), Nov. 5, 1990, 104 Stat. 2035.)
§ 290l–7. Exemption from securities laws for certain securities issued by Bank; reports required
(a) Exemption from securities laws; reports to Securities and Exchange Commission
(b) Authority of Securities and Exchange Commission to suspend exemption; reports to Congress
(Pub. L. 101–513, title V, § 562(c)(9), Nov. 5, 1990, 104 Stat. 2035.)
§ 290l–8. Congressional consultations
During negotiations on the establishment of operational guidelines for the Bank, the Secretary of the Treasury shall—
(A) consult on a regular and timely basis with the Committee on Banking, Finance and Urban Affairs and the Committee on Appropriations of the House of Representatives, and the Committee on Foreign Relations and the Committee on Appropriations of the Senate;
(B) seek to ensure that procedures and mechanisms are established, including the creation of specific departments or staffs within the Bank, which will allow the Bank to assess the impact of any loans, guarantees, or other activities on the environment and on internationally recognized human rights in borrower countries; and
(C) report, through consultation within 90 days after November 5, 1990, to the Committees specified in subparagraph (A) on the progress of efforts to create such procedures and mechanisms.
(Pub. L. 101–513, title V, § 562(c)(11), Nov. 5, 1990, 104 Stat. 2036.)
§ 290l–9. Capital increase
(a) Subscription authorized
(1) The United States Governor of the Bank may subscribe on behalf of the United States up to 90,044 additional callable shares of the capital stock of the Bank in accordance with Resolution No. 128 as adopted by the Board of Governors of the Bank on May 14, 2010.
(2) Any subscription by the United States to additional capital stock of the Bank shall be effective only to such extent and in such amounts as are provided in advance in appropriations Acts.
(b) Limitations on authorization of appropriations
(Pub. L. 101–513, title V, § 562(c)(12), as added Pub. L. 112–74, div. I, title VII, § 7081(e), Dec. 23, 2011, 125 Stat. 1260.)