A bill to restrict the use of the exchange stabilization fund.
Accountability for International Bailouts Act of 1997 - Amends Federal monetary law governing exchange rate stabilization to require the Secretary of the Treasury to obtain congressional approval before incurring any obligation or making any expenditure or guarantee through the stabilization fund in excess of $250 million for the purpose of engaging in a coordinated international rescue plan for any foreign entity or any government of a foreign country.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S12121)
Read twice and referred to the Committee on Banking.
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