International Lending Reform Act of 1983

Summary

International Lending Reform Act of 1983 - Amends the Federal Reserve Act to prohibit the aggregate amount of outstanding credit extensions by an insured bank to borrowers in a foreign country from exceeding an amount prescribed by the Federal Reserve Board. Permits the Board, upon notification to specified congressional committees, to waive such prohibition for any particular country for a period of up to one year if the Board determines that a waiver is essential to prevent a serious threat to the stability of the international monetary system. Requires each insured bank to establish a loan loss reserve against the total amount of credit extended by it to borrowers in a foreign country whenever the Board determines that such country's total external debt is at a level where it cannot be reasonably repaid in accordance with its original terms and conditions without additional borrowing or major debt restructuring. Directs the Board, by regulation, to require amortization over the life of the loan of all fees representing interest charged by any insured bank in connection with any loan or loan restructuring of over $1,000,000.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 16 February 1983

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.