Amendment98th Congress
A perfecting amendment. The amendment adds that the quota increase may not be activated until the Secretary of the Treasury certifies that supplementary resources are needed due to impairment of the international monetary system, and that the Fund has fully explored other means of funding. The amendment makes numerous other changes among them are: 1) the Federal Reserve is required to identify excessive foreign lending and prevent further excess foreign lending, 2) U.S. representative to Fund is to a) vote against drawing by members for purpose of repaying loans made by imprudent banking institutions and b) encourage a rescheduling of debt consistent with safe banking practices, and 3) prohibits up-front rescheduling fees by U.S. banks except for fees covering actual administrative costs.
- Amendment Number
- 304
- Description
- A perfecting amendment. The amendment adds that the quota increase may not be activated until the Secretary of the Treasury certifies that supplementary resources are needed due to impairment of the international monetary system, and that the Fund has fully explored other means of funding. The amendment makes numerous other changes among them are: 1) the Federal Reserve is required to identify excessive foreign lending and prevent further excess foreign lending, 2) U.S. representative to Fund is to a) vote against drawing by members for purpose of repaying loans made by imprudent banking institutions and b) encourage a rescheduling of debt consistent with safe banking practices, and 3) prohibits up-front rescheduling fees by U.S. banks except for fees covering actual administrative costs.
- Congress
- 98
- Type
- HAMDT
- Latest Action Date
- Jul 29, 1983
- Latest Action Text
- Amendment Passed (Amended) in Committee of the Whole by Recorded Vote: 332 - 76 (Record Vote No: 290).
- Submitted Date
- Jul 29, 1983
- Chamber
- House of Representatives
- Update Date
- Jun 30, 2021