In furtherance of the purpose of this chapter, the Secretary, after consultation with the Chairman of the Board, shall submit to the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, on or before October 15 of each year, a written report on international economic policy, including exchange rate policy. The Secretary shall provide a written update of developments six months after the initial report. In addition, the Secretary shall appear, if requested, before both committees to provide testimony on these reports.
(b) Contents of report
Each report submitted under subsection (a) of this section shall contain—
(1)an analysis of currency market developments and the relationship between the United States dollar and the currencies of our major trade competitors;
(2)an evaluation of the factors in the United States and other economies that underlie conditions in the currency markets, including developments in bilateral trade and capital flows;
(3)a description of currency intervention or other actions undertaken to adjust the actual exchange rate of the dollar;
(4)an assessment of the impact of the exchange rate of the United States dollar on—
(A)the ability of the United States to maintain a more appropriate and sustainable balance in its current account and merchandise trade account;
(B)production, employment, and noninflationary growth in the United States;
(C)the international competitive performance of United States industries and the external indebtedness of the United States;
(5)recommendations for any changes necessary in United States economic policy to attain a more appropriate and sustainable balance in the current account;
(6)the results of negotiations conducted pursuant to section
5304 of this title;
(7)key issues in United States policies arising from the most recent consultation requested by the International Monetary Fund under article IV of the Fund’s Articles of Agreement; and
(8)a report on the size and composition of international capital flows, and the factors contributing to such flows, including, where possible, an assessment of the impact of such flows on exchange rates and trade flows.
This chapter, referred to in subsec. (a), was in the original “this title”, meaning title III of Pub. L. 100–418, Aug. 23, 1988, 102 Stat. 1372, which enacted this chapter and section
262q of this title, amended sections
3912, of Title
12, Banks and Banking, and enacted provisions set out as notes under section
262q of this title and sections
1841 of Title
12. For complete classification of title III to the Code, see Tables.
Change of Name
Committee on Banking, Finance and Urban Affairs of House of Representatives treated as referring to Committee on Banking and Financial Services of House of Representatives by section 1(a) ofPub. L. 104–14, set out as a note preceding section
21 of Title
2, The Congress. Committee on Banking and Financial Services of House of Representatives abolished and replaced by Committee on Financial Services of House of Representatives, and jurisdiction over matters relating to securities and exchanges and insurance generally transferred from Committee on Energy and Commerce of House of Representatives by House Resolution No. 5, One Hundred Seventh Congress, Jan. 3, 2001.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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Description of Change
Statutes at Large
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