Exchange Stabilization Fund Transparency Act

This bill would require the Secretary of the Treasury to notify four congressional committees at least 24 hours before committing to use the Exchange Stabilization Fund to help a foreign government or foreign entity, such as through currency swap lines, buying foreign currency or debt, or extending credit. The notice would have to describe the assistance, why it serves U.S. interests, its risks, any conditions, and expected repayment, with missing details provided within 14 days or once $500 million has been used. The Secretary would also have to brief the committees within 7 days of committing the funds. Within 30 days of the law taking effect, Treasury would have to report on all such assistance given during the prior 4 years, and certain existing fund disclosures would also go to the foreign affairs committees of both chambers.

Full text and official record on Congress.gov

Sponsors

• Jeanne Shaheen Democrat sponsor
• 1 cosponsors