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H.R. 557

BillFederalHouseIn Committee
To promote United States interests at the international financial institutions, and for other purposes.
About This Bill
Committee
Latest Action · January 26, 2023
Referred to the House Committee on Financial Services.
Congress
118th (2023–2025)
Introduced
January 26, 2023
Sponsor
Cosponsors (0)
None
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Summary

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International Financial Institutions Governance Act of 2023 This bill temporarily authorizes the Department of the Treasury to waive, on a case-by-case basis, statutory requirements that govern the U.S. Executive Directors at international financial institutions with respect to their use of the voice and vote of the United States. Treasury must periodically issue a report that (1) lists each waiver issued since the previous report, if any; (2) describes the project or policy that each waiver applied to; (3) provides a detailed explanation of the reasons for each waiver; and (4) includes a determination that each waiver allowed Treasury to more effectively advance U.S. interests at the institution involved. Treasury must review existing statutory requirements and submit any recommendations to revise or sunset the requirements with the objectives of strengthening U.S. leadership, facilitating multilateral cooperation, reflecting changing conditions, and advancing the U.S. national interest.

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