United States-Mexico Joint Development Bank Act

Summary

United States-Mexico Joint Development Bank Act - Authorizes the President to enter into an agreement with Mexico to establish a United States-Mexico Joint Development Bank for the purpose of making economic development loans to Mexico. Limits such Bank's authority to ten years. Directs the President to appoint the U.S. Directors of such Bank. Authorizes the Secretary of the Treasury to subscribe to the capital stock of such Bank. Makes such Bank subject to the National Advisory Council on International Monetary and Financial Problems. Limits presidential actions regarding such Bank without congressional authorization. Requires any Federal Reserve bank to act as depository of such Bank, if so requested by the President. Sets forth venue and jurisdiction provisions applicable to such Bank. Exempts such Bank from taxation.

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1 official file

• Introduced in House

  summary · EN · 1 May 1979

  Open at official source

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