Bretton Woods Agreements Act Amendment: Hearings Before the Committee on Banking and Currency, House of Representatives, Eighty-seventh Congress, Second Session, on H.R.10162, a Bill to Amend the Bretton Woods Agreements Act, to Authorize the United States to Participate in Loans to the International Monetary Fund to Strengthen the International Monetary System
U.S. Government Printing Office, 1962 - 165 páginas
Considers H.R. 10162, to authorize U.S. loans to IMF.
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$2 billion abroad accounts action additional agree agreement amended American amount arrangement authority balance of payments balance-of-payments basic bill billion Board borrowing capital central banks Chairman changes Committee Congress consider convertible cooperation correct countries currencies Decision deficit deposits developed Director dollar drawing economic effect exchange exports February Federal Reserve foreign Fund's give going gold Government holdings important increase institutions interest International Monetary Fund investment Italy legislation lend loan major Managing MARTIN meet ments monetary system movements MULTER necessary Open Market operations opinion Paragraph participants PATMAN percent period position possible present problem proposal purchases question quota rates reason record repayment Representatives request Reserve bank Reuss savings Secretary DILLON short-term situation SPENCE stability statement trade transactions transfers Treasury understand United United Kingdom
Página 137 - A corporation is an artificial being, invisible, intangible, and existing only in contemplation of law. Being the mere creature of law, it possesses only those properties which the charter of its creation confers upon it, either expressly or as incidental to its very existence.
Página 130 - To facilitate the expansion and balanced growth of international trade, and to contribute thereby to the promotion and maintenance of high levels of employment and real income and to the development of the productive resources of all members as primary objectives of economic policy.
Página 28 - Fund decides that supplementary resources are needed to forestall or cope with an impairment of the international monetary system.
Página 30 - The par value of the currency of each member shall be expressed in terms of gold as a common denominator or in terms of the United States dollar of the weight and fineness in effect on July 1, 1944.
Página 28 - Agreement in accordance with its law and has taken all steps necessary to enable it to carry out all of its obligations under this Agreement.
Página 142 - SEC. 4. (a) In order to coordinate the policies and operations of the representatives of the United States on the Fund and the Bank and of all agencies of the Government which make or participate in making foreign loans or which engage in foreign financial, exchange or monetary transactions...
Página 141 - ... (g) The Federal Reserve Board shall exercise special supervision over all relationships and transactions of any kind entered into by any Federal reserve bank with any foreign bank or banker, or with any group of foreign banks or bankers, and all such relationships and transactions shall be subject to such regulations, conditions, and limitations as the Board may prescribe.
Página 4 - SEC. 18. Any purchases of currencies or gold by the United States from the International Monetary Fund may be transferred to and administered by the fund established...
Página 138 - ... buy and sell, with or without its indorsement, through such correspondents or agencies, bills of exchange (or acceptances) arising out of actual commercial transactions which have not more than ninety days to run, exclusive of days of grace, and which bear the signature of two or more responsible parties, and, with the consent of the Federal Reserve Board, to open and maintain banking accounts for such foreign correspondents or agencies.