USC Subchapter XXVII

in effect

22 U.S.C. § 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.

22 U.S.C. § 290l–1 Governor and alternate Governor

(a) AppointmentThe President, by and with the advice and consent of the Senate, shall appoint a Governor of the Bank, an alternate for the Governor, and a Director of the Bank. (b) CompensationAny person who serves as a Governor of the Bank or as an alternate for the Governor may not receive any salary or other compensation from the United States by reason of such service.

22 U.S.C. § 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.

22 U.S.C. § 290l–3 Federal Reserve banks as depositories

Any Federal Reserve Bank 11 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.

22 U.S.C. § 290l–4 Subscription of stock

(a) Subscription authority(1) In generalThe Secretary of the Treasury may subscribe on behalf of the United States to 100,000 shares of the capital stock of the Bank. (2) Effectiveness of subscription commitmentAny commitment to make such subscription shall be effective only to such extent or in such amounts as are provided for in advance by appropriations Acts. (b) Limitations on authorization of appropriationsFor payment by the Secretary of the Treasury of the subscription of the United States for shares described in subsection (a), there are authorized to be appropriated $1,167,010,000 without fiscal year limitation. (c) Disposition of net income distributions by BankAny payment made to the United States by the Bank as a distribution of net income shall be covered into the Treasury as a miscellaneous receipt.

22 U.S.C. § 290l–5 Jurisdiction and venue of civil actions by or against Bank

(a) JurisdictionThe United States district courts shall have original and exclusive jurisdiction of any civil action brought in the United States by or against the Bank. (b) VenueFor purposes of section 1391(b) of title 28, the Bank shall be deemed to be a resident of the judicial district in which the principal office of the Bank in the United States, or its agent appointed for the purpose of accepting service or notice of service, is located.

22 U.S.C. § 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.

22 U.S.C. § 290l–7 Exemption from securities laws for certain securities issued by Bank; reports required

(a) Exemption from securities laws; reports to Securities and Exchange CommissionAny securities issued by the Bank (including any guaranty by the Bank, whether or not limited in scope) in connection with the raising of funds for inclusion in the Bank’s ordinary capital resources as defined in article 7 of the Agreement and any securities guaranteed by the Bank as to both principal and interest to which the commitment in article 6, paragraph 4, of the Agreement is expressly applicable, shall be deemed to be exempted securities within the meaning of section 77c(a)(2) of title 15 and section 78c(a)(12) of title 15. The Bank shall file with the Securities and Exchange Commission such annual and other reports with regard to such securities as the Commission shall determine to be appropriate in view of the special character of the Bank and its operations and necessary in the public interest or for the protection of investors. (b) Authority of Securities and Exchange Commission to suspend exemption; reports to CongressThe Securities and Exchange Commission, acting in consultation with such agency or officer as the President shall designate, may suspend the provisions of subsection (a) at any time as to any or all securities issued or guaranteed by the Bank during the period of such suspension. The Commission shall include in its annual reports to the Congress such information as it shall deem advisable with regard to the operations and effect of this section.

22 U.S.C. § 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.

22 U.S.C. § 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 appropriationsIn order to pay for the increase in the United States subscription to the Bank under subsection (a), there are authorized to be appropriated, without fiscal year limitation, up to $1,252,331,952 for payment by the Secretary of the Treasury.

22 U.S.C. § 290l–10 Capital increase

(a) Subscription authorized(1) The United States Governor of the Bank may subscribe on behalf of the United States up to 40,000 additional shares of the paid-in capital stock of the Bank. (2) Any subscription by the United States to additional paid-in 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) Authorization of appropriationsIn order to pay for the increase in the United States subscription to the Bank under paragraph (A), there are authorized to be appropriated, without fiscal year limitation, $437,457,804, for payment by the Secretary of the Treasury.