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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 22 U.S.C. § 286p Issuance, purpose, and redemption of Special Drawing Rights certificates us united_states_code code_section 22 FOREIGN RELATIONS AND INTERCOURSE 7 INTERNATIONAL BUREAUS, CONGRESSES, ETC. 286p 22 U.S.C. § 286p current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc22@119-100.zip /us/usc/t22/s286p data/legal/raw/us/code/title-22/usc22.xml 8d938f632ad6bfcaa3d0f231dd1c0ee8b7754f79cb4cb428987767ab3e0b1c7a b9c63ede722f5e0bf8eabfe9029e06e312ab9bcfd95c4d1424ed515baff1df83 dc13bdd220fa1f13874e8cc06c7ea2e4102cc8ff728348d914dbe5e4aab4359d 2026-07-04 official
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22 U.S.C. § 286p - Issuance, purpose, and redemption of Special Drawing Rights certificates

Text

(a) The Secretary of the Treasury is authorized to issue to the Federal Reserve banks, and such banks shall purchase, Special Drawing Right certificates in such form and in such denominations as he may determine, against any Special Drawing Rights held to the credit of the Exchange Stabilization Fund. Such certificates shall be issued and remain outstanding only for the purpose of financing the acquisition of Special Drawing Rights or for financing exchange stabilization operations. The amount of Special Drawing Right certificates issued and outstanding shall at no time exceed the value of the Special Drawing Rights held against the Special Drawing Right certificates. The proceeds resulting from the issuance of Special Drawing Right certificates shall be covered into the Exchange Stabilization Fund.

(b) Special Drawing Right certificates owned by the Federal Reserve banks shall be redeemed from the resources of the Exchange Stabilization Fund at such times and in such amounts as the Secretary of the Treasury may determine.

(Pub. L. 90349, § 4, June 19, 1968, 82 Stat. 188.)

Notes

Editorial Notes

Codification Section was not enacted as part of act July 31, 1945, ch. 339, 59 Stat. 512, known as the Bretton Woods Agreement Act, which comprises this subchapter.