To preserve the constitutional role of the House of Representatives to provide for the expenditure of public money and ensure that the executive branch of the United States Government remains accountable to the House of Representatives for each expenditure of public money.

Summary

Directs the Comptroller General, within seven days of the adoption of this resolution, to transmit to the House of Representatives a report containing: (1) the opinion of the Comptroller General on whether the proposed actions of the President to strengthen the Mexican peso and support economic stability in Mexico require congressional authorization or appropriation; (2) an evaluation of the terms and conditions of commitments and agreements entered into by the President, including the terms which provide for collateral or methods of assuring repayment of outlays by the United States; (3) an analysis of the resources which the International Monetary Fund has agreed to make available to strengthen the Mexican peso and support economic stability; (4) an evaluation of the role played by the Bank for International Settlements in efforts to strengthen the Mexican peso and support economic stability and the extent of the financial exposure of the United States; (5) an analysis of the relationships between the Bank and the Federal Reserve and the Bank and the Secretary of the Treasury and the extent to which such relationships involve a financial commitment to the Bank, on the part of the United States, of public money or financial resources under control of the Federal Reserve; and (6) an accounting of fund flows, in the 24 months preceding this resolution's adoption, through the exchange stabilization fund, the manner in which the fund has been used domestically and internationally, and the extent to which the use of the fund to strengthen the Mexican peso and support economic stability represents a departure from previous uses.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 3 February 1995

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• Introduced in House (PDF)

  Introduced in House · EN · 3 February 1995

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• Introduced in House

  summary · EN · 3 February 1995

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