This bill requires the Treasury Department to notify Congress at least 24 hours before using the Exchange Stabilization Fund, a special Treasury account, to provide financial assistance to foreign countries or entities. The notification must include detailed information about the nature and amount of assistance, why it serves U.S. national interests, engagement with international financial institutions, risk assessments, impacts on the fund's reserves, repayment conditions, and safeguards for taxpayer resources. If information is incomplete at the time of notification, Treasury must provide updates within 14 days or once $500 million has been used, whichever comes first. Additionally, Treasury must brief the relevant congressional committees within 7 days of committing to such assistance and submit a report within 30 days of enactment detailing all instances when foreign aid was provided from this fund during the previous four years, including copies of any related agreements and assessments of whether additional assistance may be needed.
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