A bill to amend the Bretton Woods Agreements Act and the Gold Reserve Act.
International Financial Reform Amendments - Amends the Bretton Woods Agreements Act to require Congressional authorization for (1) disposition of more than 25,000,000 ounces of gold from the International Monetary Fund, or (2) establishment of a trust from such Fund for the benefit of a single Fund member or segment.
Requires the President, upon request, to furnish relevant information to Congressional committees with monetary policy oversight responsibilities.
Amends the Gold Reserve Act of 1934 to prohibit the extension of any Fund loan by more than six months unless the President notifies Congress that exigent circumstances exist.
Terminates the requirement that United States obligations be payable in dollars rather than gold.
Introduced in Senate
Referred to Senate Committee on Foreign Relations.
Referred to Senate Committee on Banking, Housing and Urban Affairs.
Provisions inserted in H.R. 5675 as passed Senate.
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