bring a civil action in the appropriate district court of the United States or appropriate United States court of a territory or possession of the United States to enjoin the violation or to enforce compliance with the subchapter, regulation, or order. An injunction or temporary restraining order shall be issued without bond.

§ 5321. Civil penalties

(a)(1) A domestic financial institution, and a partner, director, officer, or employee of domestic financial institution, willfully violating this subchapter or a regulation prescribed under this subchapter (except section 5315 of this title or a regulation prescribed under section 5315) is liable to the United States Government for a civil penalty of not more than $1,000. For a violation of section 5318(2) of this title or a regulation prescribed under section 5318(2), a separate violation occurs for each day the violation continues and at each office, branch, or place of business at which a violation occurs or continues.

(2) The Secretary of the Treasury may impose an additional civil penalty on a person not filing a report, or filing a report containing a material omission or misstatement, under section 5316 of this title or a regulation prescribed under section 5216. A civil penalty under this paragraph may not be more than the amount of the monetary instrument for which the report was required. A civil penalty under this paragraph is reduced by an amount forfeited under section 5317(b) of this title.

(3) A person not filing a report under a regulation prescribed under section 5315 of this title or not complying with an injunction under section 5320 of this title enjoining a violation of, or enforcing compliance with, section 5315 or a regulation prescribed under section 5315, is liable to the Government for a civil penalty of not more than $10,000.

(b) The Secretary may bring a civil action to recover a civil penalty under subsection (a) (1) or (2) of this section that has not been paid.

(c) The Secretary may remit any part of a forfeiture under section 5317(b) of this title or civil penalty under subsection (a)(2) of this section.

9. IMF Appropriation

Partial text of Public Law 98-181 [Supplemental Appropriations Act, 1984; H.R. 3959), 97 Stat. 1153 at 1287, approved November 30, 1983

AN ACT Making supplemental appropriations for the fiscal year ending September 30, 1984, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the following sums are appropriated, out of any money in the Treasury not otherwise appropriated, to provide supplemental appropriations for the fiscal year ending September 30, 1984, and for other purposes, namely:

TITLE XI-IMF APPROPRIATION

IMF APPROPRIATION

Sec. 1101. (a) Notwithstanding any other provision of this Act, there is appropriated for an increase in the United States quota in the International Monetary Fund, the dollar equivalent of 5,310,800,000 Special Drawing Rights, to remain available until expended.

(b) Notwithstanding any other provision of this Act, there is appropriated for an increase in loans to the International Monetary Fund under the General Arrangements to Borrow, the dollar equivalent of $4,250,000,000 Special Drawing Rights less $2,000,000,000 previously appropriated by the Act of October 23, 1962 (Public Law 87-872, 76 Stat. 1163), pursuant to the authorization contained in section 17 of the Bretton Woods Agreement Act and merged with this appropriation, to remain available until expended.

CONDITION OF INTERNATIONAL FINANCIAL SYSTEM

Sec. 1102. (a) The Congress finds and declares that

(1) the international banking system is currently threatened by a series of national financial crises;

(2) the Congress is desirous of finding a solution to the current monetary crisis which will result in a stable monetary system and preservation of a liberal international economy;

(3) this solution must be found without placing inordinate pressures on United States credit markets;

(4) the breakdown in the Bretton Woods monetary system. has contributed directly to these problems;

(5) the economic policies prescribed by the International Monetary Fund can be harmful to economic growth; and

(6) the International Monetary Fund currently holds approximately $40,000,000,000 of uncommitted assets in the form of gold bullion and has not utilized them fully to date.

(b) It is the sense of the Senate that

(1) restoration of a stable monetary system is necessary to assure economic growth and to maintain a liberal international economic system;

(2) as a first step toward this restoration the Secretary of the Treasury should call for an international conference on the monetary system to investigate its systemic problems;

(3) in coping with the current financial crisis, the International Monetary Fund should make fuller use of its current assets, including its gold holdings;

(4) the International Monetary Fund should revise the conditions placed on its loans so as to encourage economic growth.

10. Executive Order 11269, as amended

Executive Order 11269, February 14, 1966, 31 F.R. 2813, 3 CFR, 1966-70 Comp., p. 534, as amended by Executive Order 11334, March 7, 1967, 32 F.R. 3933, 3 CFR, 1966-70 Comp., p. 627; Executive Order 11808, September 30, 1974, 39 F.R. 35563; Executive Order 11977, March 14, 1977, 42 F.R. 14671; Executive Order 12164, September 29, 1979, 44 F.R. 56681; Executive Order 12188, January 2, 1980, 45 F.R. 989; and by Executive Order 12403, February 8, 1983, 48 F.R. 6087

NATIONAL ADVISORY COUNCIL ON INTERNATIONAL MONETARY AND FINANCIAL POLICIES

By virtue of the authority vested in me by Reorganization Plan No. 4 of 1965 (30 F.R. 9353), and as President of the United States, it is ordered as follows:

Section 1. Establishment of Council. (a) There is hereby established the National Advisory Council on International Monetary and Financial Policies, hereinafter referred to as the council.

(b) The Council shall be composed of the following members: the Secretary of the Treasury, who shall be the Chairman of the Council, the Assistant to the President for Economic Affairs, who shall be Deputy Chairman of the Council, the Secretary of State, the United States Trade Representative,2 the Secretary of Commerce, the Chairman of the Board of Governors of the Federal Reserve System, the Director of the International Development Cooperation Agency, and the President of the Export-Import Bank of Washington.*

(c) Whenever matters within the jurisdiction of the Council may be of interest to Federal agencies not represented on the Council under Section 1(b) of this order, the Chairman of the Council may consult with such agencies and may invite them to designate representatives to participate in meetings and deliberations of the Council.

Sec. 2. Functions of the Council. (a) Exclusive of the functions delegated by the provisions of Section 3, below, and subject to the limitations contained in subsection (b) of this Section, all of the functions which are now vested in the President in consequence of their transfer to him effected by the provisions of Section 1(b) of Reorganization Plan No. 4 of 1965 are hereby delegated to the Council.

(b) The functions under Sections 4(a) and 4(b)(3) 5 of the Bretton Woods Agreements Act, including those made applicable to the

1 The Assistant to the President was added as a member by sec. 6(c) of Executive Order 11808, Sept 30, 1974, 39 F.R. 35563.

The reference to the United States Trade Representative was added by sec. 1-105(a) of Executive Order 12188.

The reference to the Director of the International Development Cooperation Agency was added by E.O. 12164.

See footnote 2 on page 555.

For text see page 590.

58-754 0 86 21

International Finance Corporation, the Inter-American Development Bank, and the International Development Association (22 U.S.C. 286b (a) and (b)(3); 282b; 283b; 284b), to the extent that such functions consist of coordination of policies, are hereby delegated to the Council. The functions so delegated shall be deemed to include the authority to review proposed individual loan, financial, exchange, or monetary transactions to the extent necessary or desirable to effectuate the coordination of policies.

(c) 6 The Council shall perform with respect to the Asian Development Bank, African Development Fund, and African Development Bank, the same functions as those delegated to it by subsections (a) and (b) of this section with respect to other international financial institutions.

Sec. 3. Functions of the Secretary of the Treasury. (a) Functions which are now vested in the President in consequence of their transfer to him effected by the provisions of Section 1(b) of Reorganization Plan No. 4 of 1965 are hereby delegated to the Secretary of the Treasury to the extent of the following:

8

(1) Authority, subject to the provisions of Section 7 of this Order, to instruct representatives of the United States to international financial organizations.

9

(2) Authority provided for in Section 4(b)(4) of the Bretton Woods Agreements Act (22 U.S.C. 286b(b)(4)). Such authority, insofar as it relates to the development aspects of the policies, programs, or projects of the International Bank for Reconstruction and Development shall be exercised subject to the provisions of Section 7 of this Order. 10

(b) In carrying out the functions delegated to him by subsection (a) of this Section the Secretary shall consult with the Council.

(c) Nothing in this order shall be deemed to derogate from the responsibilities of the Secretary of State with respect to the foreign policy of the United States.

(d) The Secretary of the Treasury shall perform, with respect to the Asian Development Bank, African Development Fund, and African Development Bank,' the same functions as those delegated to him by subsections (a) and (b) of this section with respect to other international financial institutions.

(c) 11 The Secretary of the Treasury is hereby delegated the functions conferred upon the President by Section 203(b) and Section 207 of the Act of May 31, 1976 (90 Stat. 593 and 594, 22 U.S.C. 290g-1 and 290g-5), subject to the provisions of Section 7 of this Order. 8

Sec. 4. Information. (a) All agencies and officers of the Government, including representatives of the United States to the international financial organizations, (1) shall keep the Council or the Secretary of the Treasury, as the case may be, fully informed concern

6 Sec. 2(c) and sec. 3(d), were added by Executive Order 11334, Mar. 7, 1967, 32 F.R. 3933. The reference to the African Development Fund was added by Executive Order 11977, Mar. 14, 1977, 42 F.R. 14671. The reference to the African Development Bank was added by sec. 2 of Executive Order 12403, Feb. 8, 1983, 48 F.R. 6087.

8 The reference to sec. 7 was added by Executive Order 12164.

9 For text, see page 591.

10 This sentence was added by E.O. 12164, effective Oct. 1, 1979.

11 Subsection (e) was added by sec. 4 of Executive Order 11977, Mar. 14, 1977, 42 F.R. 14671