
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 22USC2363]

 
               TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
 
                     CHAPTER 32--FOREIGN ASSISTANCE
 
          SUBCHAPTER III--GENERAL AND ADMINISTRATIVE PROVISIONS
 
                       Part I--General Provisions
 
Sec. 2363. Accounting, valuation, reporting, and administration 
        of foreign currencies
        

(a) Responsibility of Secretary of the Treasury; regulations

    Under the direction of the President, the Secretary of the Treasury 
shall have responsibility for valuation and central accounting with 
respect to foreign credits (including currencies) owed to or owned by 
the United States. In order to carry out such responsibility the 
Secretary shall issue regulations binding upon all agencies of the 
Government.

(b) Establishment of exchange rates

    The Secretary of the Treasury shall have sole authority to establish 
for all foreign currencies or credits the exchange rates at which such 
currencies are to be reported by all agencies of the Government.

(c) Repealed. Pub. L. 97-113, title VII, Sec. 734(a)(1), Dec. 29, 1981, 
        95 Stat. 1560

(d) Interest income on foreign currency proceeds; regulations; waiver; 
        report to Congress

    In cases where assistance is to be furnished to any recipient 
country in furtherance of the purposes of this chapter or any other Act 
on a basis which will result in the accrual of foreign currency proceeds 
to the United States, the Secretary of the Treasury shall issue 
regulations requiring that agreements, in respect of such assistance, 
include provisions for the receipt of interest income on the foreign 
currency proceeds deposited in authorized depositaries: Provided, That 
whenever the Secretary of State determines it not to be in the national 
interest to conclude arrangements for the receipt of interest income he 
may waive the requirement thereof: Provided further, That the Secretary 
of State, or his delegate, shall promptly make a complete report to the 
Congress on each such determination and the reasons therefor.

(Pub. L. 87-195, pt. III, Sec. 613, Sept. 4, 1961, 75 Stat. 443; Pub. L. 
89-171, pt. III, Sec. 301(c), Sept. 6, 1965, 79 Stat. 659; Pub. L. 94-
273, Sec. 46, Apr. 21, 1976, 90 Stat. 382; Pub. L. 97-113, title VII, 
Sec. 734(a)(1), Dec. 29, 1981, 95 Stat. 1560.)

                       References in Text

    This chapter, referred to in subsec. (d), was in the original ``this 
Act'', meaning Pub. L. 87-195, Sept. 4, 1961, 75 Stat. 424, as amended, 
known as the Foreign Assistance Act of 1961. For complete classification 
of this Act to the Code, see Short Title note set out under section 2151 
of this title and Tables.


                               Amendments

    1981--Subsec. (c). Pub. L. 97-113 struck out subsec. (c) which 
provided for semi-annual reports on foreign currencies acquired without 
payment of dollars by the United States. See section 2394(a)(8) of this 
title.
    1976--Subsec. (c). Pub. L. 94-273 inserted provision relating to 
reports after Dec. 31, 1975.
    1965--Subsec. (d). Pub. L. 89-171 added subsec. (d).

                         Delegation of Functions

    For delegation of functions of President under this section, see Ex. 
Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673, as amended, set out as a 
note under section 2381 of this title.
