Bill

Bill > HR3866


US HR3866

US HR3866
Chinese Currency Accountability Act of 2021


summary

Introduced
06/14/2021
In Committee
06/14/2021
Crossed Over
Passed
Dead
01/03/2023

Introduced Session

117th Congress

Bill Summary

A BILL To require the United States Governor of, and the United States Executive Director at, the International Monetary Fund to oppose an increase in the weight of the Chinese renminbi in the Special Drawing Rights basket of the Fund, and for other purposes.

AI Summary

This bill, titled the "Chinese Currency Accountability Act of 2021," requires the United States Governor and Executive Director at the International Monetary Fund (IMF) to oppose any increase in the weight of the Chinese renminbi (yuan) in the Special Drawing Rights (SDR) basket of the IMF, unless the Secretary of the Treasury certifies that China is in compliance with its obligations, has not manipulated its currency in the past 12 months, has made the renminbi freely usable, and adheres to the rules and principles of the Paris Club and the OECD Arrangement on Officially Supported Export Credits. The bill also includes a sunset provision, stating that this requirement will expire 10 years after the bill's enactment.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Referred to the House Committee on Financial Services. (on 06/14/2021)

bill text


bill summary

Loading...

bill summary

Loading...
Loading...