Index
(* indicates Decision as amended)
| Decision No. | Page | ||||||
|---|---|---|---|---|---|---|---|
| A | Accounting by members for transactions with the Fund | 170-3 | 2 | ||||
| Accounts: | |||||||
| General Account: | |||||||
| Accounts receivable or payable, establishment for adjustment of currency holding | 3637-(72/41) G/S | 18 | |||||
| General Reserve, establishment from net income | 753-(58/17) | 118 | |||||
| Special account, gold collateral transactions | 1543-(63/39) | 53 | |||||
| Transactions to obtain special drawing rights to pay charges or assessments | 3010-(70/25)G/S | 132 | |||||
| Transfer of SDRs to participants making purchases from Fund | 3414-(71/98)G/S | 131 | |||||
| Use of special drawing rights to settle all charges | 2901-(69/122)G/S | 130 | |||||
| 3188-(70/106)G/S | 130 | ||||||
| Special Drawing Account (see also Currencies convertible in fact; Currency convertible in fact; Exchange rates, representative rates): | |||||||
| Participant designated under Article XXV, Section 5, sale of gold to Fund | 2916-(69/127) | 62 | |||||
| Payment of interest, charges, and assessments | 3010-(70/25)G/S | 132 | |||||
| Articles of Agreement: | |||||||
| Amendment | 2493-(68/74) | 121 | |||||
| Article I, purposes of the Fund | 287-3 | 21 | |||||
| 433-(55/42) | 94 | ||||||
| 1034-(60/27) | 99 | ||||||
| 1687-(64/22) | 56 | ||||||
| Article III, Section 2, adjustment of quotas | 408-2 | 1 | |||||
| Article III, Section 3, subscription payments | 298-3 | 2, 4, 5, 124 | |||||
| Article III, Sections 3 and 4, changes in quotas | 595-3 | 6 | |||||
| Article IV, Section 1, borrowing arrangements | 1289-(62/1) | 78 | |||||
| gold value | 298-3 | 4 | |||||
| Article IV, Section 2, price of gold | 75-(705) | 9 | |||||
| 233-2 | 7 | ||||||
| Section 3, margins | 269-2 | 11 | |||||
| 904-(59/32) | 11 | ||||||
| 3463-(71/126) | 13 | ||||||
| 3637-(72/41) G/S | 17 | ||||||
| Article IV, Section 4(a), exchange stability | 233-2 | 7 | |||||
| margins | 3463-(71/126) | 12, 15 | |||||
| multiple currency practices | 237-2 | 110 | |||||
| Article IV, Section 4(b), purchase and sale of gold | 411-1 | 16 | |||||
| Article IV, Section 5, changes in par values | 71-2 | 16 | |||||
| 278-3 | 17 | ||||||
| Article IV, Section 8, maintenance of gold value of Fund assets | 3637-(72/41) G/S | 18 | |||||
| Article V, Section 1, borrowing arrangements | 1289-(62/1) | 78 | |||||
| Article V, Section 3(a), “consistent with the provisions of this Agreement,” meaning | 287-3 | 21 | |||||
| gold tranche purchases | 3386-(71/83) | 51 | |||||
| meaning of Section 3 (a) (i) | 284-4 | 20 | |||||
| meaning of Section 3(a) (iii) | 451-(55/52) | 21 | |||||
| stand-by arrangements | 155-(52/57) | 27 | |||||
| use of Fund’s resources | 102-(52/11) | 22 | |||||
| 2836-(69/87) | 50 | ||||||
| Article V, Section 3(d), gold tranche purchases | 2836-(69/87) | 50 | |||||
| Article V, Section 4, gold collateral transactions | 1543-(63/39) | 52 | |||||
| stand-by arrangements | 155-(52/57) | 27 | |||||
| waivers under | 1543-(63/39) | 52 | |||||
| Article V, Section 5, limitation on use | 284-3 | 35 | |||||
| 286-1 | 35 | ||||||
| “is using,” meaning | 292-3 | 36 | |||||
| Article V, Section 6, repurchase obligation | 119-(52/30) | 67 | |||||
| sales of gold to Fund | 2914-(69/127) | 58 | |||||
| voluntary repurchase | 7-(648) | 66 | |||||
| Article V, Section 7, repurchase obligations | 124-2 | 63 | |||||
| 102-(52/11) | 25 | ||||||
| Article V, Section 7(b), borrowing arrangements | 1289-(62/1) | 76 | |||||
| computations | 3637-(72/41) G/S | 18 | |||||
| repurchase obligations | 447-5 | 63 | |||||
| 7-(648) | 66 | ||||||
| 119-(52/30) | 67 | ||||||
| 1371-(62/36) | 37 | ||||||
| 3032-(70/38)G/S | 129 | ||||||
| 3049-(70/44) | 64 | ||||||
| 3320-(71/34)G/S | 129 | ||||||
| Article V, Section 7(c), repurchase obligations | 419-1 | 64 | |||||
| 3049-(70/44) | 64 | ||||||
| Article V, Section 8(a), (c), and (e), borrowing arrangements | 1289-(62/1) | 74 | |||||
| Article V, Section 8(d), consultation to reduce Fund’s holdings | 102-(52/11) | 24 | |||||
| Article V, Section 8(f), rates for computations | 3637-(72/41) G/S | 18 | |||||
| stand-by arrangements | 155-(52/57) | 27 | |||||
| *270-(53/95) | 28 | ||||||
| Article VI, Section 1, use of Fund’s resources | 71-2 | 20 | |||||
| 541-(56/39) | 69 | ||||||
| 1238-(61/43) | 20 | ||||||
| Article VI, Section 3, controls on capital transfers | 541-(56/39) | 69 | |||||
| Article VII, Section 2, General Arrangements to Borrow | 1289-(62/1) | 70 | |||||
| Article VII, Section 3(b), security restrictions | 144-(52/51) | 93 | |||||
| Article VIII, retention quotas | 201-(53/29) | 97 | |||||
| bilateralism | 433-(55/42) | 94 | |||||
| Article VIII and Article XIV | 1034-(60/27) | 99 | |||||
| Article VIII, Section 2(a), security restrictions | 144-(52/51) | 93 | |||||
| payments restrictions | 3153-(70/95) | 102 | |||||
| Article VIII, Section 2(b), unenforceability of exchange contracts | 446-4 | 91 | |||||
| Article VIII, Section 3, discrimination | 955-(59/45) | 98 | |||||
| multiple currency practices | 237-2 | 108 | |||||
| 649-(57/33) | 111 | ||||||
| 3463-(71/126) | 14 | ||||||
| Article IX, Section 7, privilege for communications | 534-3 | 114 | |||||
| Article XII, Section 3(b) | *574-2 | 116 | |||||
| Article XII, Sections 3 (b) (i) and 3 (f) | 2-1 | 116 | |||||
| Article XII, Section 3(c), “the preceding two years,” meaning | 597-4 | 117 | |||||
| additional appointed Executive Directors | *574-2 | 116 | |||||
| Article XII, Section 5, voting power of Executive Directors | 180-5 | 117 | |||||
| Article XII, Section 6, establishment of a General Reserve from net income | 753-(58/17) | 118 | |||||
| Article XII, Section 8 | 2603-(68/132) | 33 | |||||
| Article XIV, retention quotas | 201-(53/29) | 96 | |||||
| Articles VIII and XIV | 1034-(60/27) | 99 | |||||
| bilateralism | 433-(55/42) | 94 | |||||
| Article XIV, Section 2, multiple currency practices | 237-2 | 109 | |||||
| 3463-(71/126) | 14 | ||||||
| security restrictions | 144-(52/51) | 93 | |||||
| payments restrictions | 3153-(70/95) | 102 | |||||
| transitional arrangements | 446-4 | 92 | |||||
| Article XIV, Section 3 | 1034-(60/27) | 100 | |||||
| Article XIV, Section 4 | 237-2 | 109 | |||||
| 117-1 | 119 | ||||||
| Article XV, Section 2 | 343-(54/47) | 120 | |||||
| Article XV, Section 3, borrowing arrangements | 1289-(62/1) | 79 | |||||
| Article XVI, Section 1, stand-by arrangements | 155-(52/57) | 27 | |||||
| *270-(53/95) | 29 | ||||||
| borrowing arrangements | 1289-(62/1) | 79 | |||||
| Article XVIII (a), list of interpretations under | xvi | ||||||
| Article XIX (b), (c), and (h), net official holdings | 298-3 | 122 | |||||
| Article XIX (d) | 298-3 | 3 | |||||
| Article XIX (j) | 2836-(69/87) | 51 | |||||
| Article XX, Section 2 (g) | 298-3 | 125 | |||||
| 3463-(71/126) | 15 | ||||||
| Article XX, Section 4 | 298-3 | 3, 5 | |||||
| Article XX, Section 4(i) | 284-2 | 126 | |||||
| Article XXV, Section 2, special drawing rights obtained by participant | 3414-(71/98)G/S | 131 | |||||
| 3457-(71/121)G/S | 127 | ||||||
| Article XXV, Section 5, sale of gold to Fund by participant designated | 2914-(69/127) | 57 | |||||
| 2916-(69/127) | 62 | ||||||
| Article XXV, Sections 6(a) and 7(f) | 3457-(71/121)G/S | 127 | |||||
| Article XXVI, Section 5, payment of interest, charges, and assessments | 3010-(70/25)G/S | 132 | |||||
| Article XXXII(b)(1) (see Currencies convertible in fact) | 3010-(70/25)G/S | 132 | |||||
| Article XXXII(b)(2) (see Currency convertible in fact) | |||||||
| Schedule B | 486-2 | 140 | |||||
| 510-2 | 141 | ||||||
| 7-(648) | 66 | ||||||
| 119-(52/30) | 67 | ||||||
| 3032-(70/38)G/S | 129 | ||||||
| 3049-(70/44) | 64 | ||||||
| 3320-(71/34) G/S | 129 | ||||||
| 3637-(72/41) G/S | 18 | ||||||
| Schedule D | 1289-(62/1) | 79 | |||||
| Schedule E | 1289-(62/1) | 79 | |||||
| Schedule G | 3457-(71/121)G/S | 127 | |||||
| Auction system (see also Multiple currency practices | 237-2 | 107 | |||||
| B | Balance of payments position: | ||||||
| Currency composition of drawings and repurchases | 1371-(62/36) | 39 | |||||
| Discrimination for balance of payments reasons | 955-(59/45) | 98 | |||||
| Bilateralism | 433-(55/42) | 94 | |||||
| 955-(59/45) | 98 | ||||||
| Borrowing by the Fund: | |||||||
| General Arrangements to Borrow | 1289-(62/1) | 70 | |||||
| Association of Switzerland | 1712-(64/29) | 84 | |||||
| 2377-(67/85) | 87 | ||||||
| 3363-(71/60) | 89 | ||||||
| Renewals | 1951-(65/54) | 83 | |||||
| 2858-(69/96) | 84 | ||||||
| Buffer stocks, international, financing | 2772-(69/47) | 47 | |||||
| Fourth International Tin Agreement | 3179-(70/102) | 48 | |||||
| 3351-(71/51) | 49 | ||||||
| Gold tranche purchases | 3386-(71/83) | 51 | |||||
| C | Capital transfers: | ||||||
| Controls by members | 541-(56/39) | 69 | |||||
| Restrictions | 237-2 | 106 | |||||
| Use of Fund’s resources for | 1238-(61/43) | 20 | |||||
| Central banks, conversion of currency | 1371-(62/36) | 41 | |||||
| “Central holdings,” meaning | 298-3 | 122 | |||||
| Central rates | 3463-(71/126) | 12 | |||||
| “Changing circumstances,” adaptation of multiple currency practices | 237-2 | 110 | |||||
| Charges: | |||||||
| General Arrangements to Borrow | 1289-(62/1) | 74 | |||||
| Gold sales to Fund by South Africa | 2914-(69/127) | 58 | |||||
| Gold sales to Fund for payment of repurchase obligations | 119-(52/30) | 67 | |||||
| Gold tranche purchases, no service charge after July 27, 1969 | 2836-(69/87) | 51 | |||||
| Gold transactions of members | 103-(52/12) | 143 | |||||
| Level for reduction of Fund’s holdings pursuant to Article V, Section 8(d) | 102-(52/11) | 24 | |||||
| Payment in special drawing rights | 2901-(69/122)G/S | 130 | |||||
| 3010-(70/25) G/S | 132 | ||||||
| 3188-(70/106)G/S | 130 | ||||||
| Stand-by arrangements | 155-(52/57) | 27 | |||||
| *270-(53/95) | 29 | ||||||
| Refund | *1345-(62/23) | 34 | |||||
| Coins, dealings deemed “other exchange transactions” within meaning of Article IV, Section 3 (see also Margins) | 269-2 | 11 | |||||
| Committee on Reform of the International Monetary System and Related Issues | B/G Res. 27-10 | 151 | |||||
| Commodities: | |||||||
| Buffer stock financing | 2772-(69/47) | 47 | |||||
| Tin | 3179-(70/102) | 48 | |||||
| 3351-(71/51) | 49 | ||||||
| Prices, effect on export earnings | *1477-(63/8) | 43 | |||||
| Reclassification where subject to multiple currency practices | 237-2 | 109, 110 | |||||
| Communications, privilege for | 534-3 | 114 | |||||
| Compensatory financing of export fluctuations | *1477-(63/8) | 42 | |||||
| Gold tranche purchases | 2836-(69/87) | 51 | |||||
| “Consistent with the provisions of this Agreement,” meaning in Article V, Section 3 | 287-3 | 21 | |||||
| Consultations with members: | |||||||
| Bilateral arrangements | 433-(55/42) | 95 | |||||
| Commodity field, attention to policies | 2772-(69/47) | 48 | |||||
| Currencies to be drawn and to be used in repurchases | 1371-(62/36) | 37, 38 | |||||
| 3049-(70/44) | 64 | ||||||
| Exchange measures needing approval under Article VIII | 1034-(60/27) | 100 | |||||
| External transactions in gold | 75-(705) | 9 | |||||
| Gold production subsidies | 233-2 | 7 | |||||
| Multiple currency practices | 237-2 | 105 | |||||
| Periodic discussions under Article VIII | 1034-(60/27) | 101 | |||||
| Reduction in Fund’s holdings | 102-(52/11) | 24 | |||||
| Retention quotas | 201-(53/29) | 96 | |||||
| Stand-by arrangements: | |||||||
| Clauses included | 2603-(68/132) | 32 | |||||
| Resumption of purchases | *270-(53/95) | 29 | |||||
| Whether measure is exchange restriction | 1034-(60/27) | 100 | |||||
| Convertibility (see also Currencies convertible in fact; Currency convertible in fact): | |||||||
| Acceptance of obligations of Article VIII, Sections 2, 3, and 4 | 1034-(60/27) | 100 | |||||
| Approval of exchange restrictions | 1034-(60/27) | 100 | |||||
| Bilateralism | 433-(55/42) | 94 | |||||
| Consultation with Fund | 1034-(60/27) | 100 | |||||
| Convertible currency margins | 904-(59/32) | 11 | |||||
| Credit arrangements (see Borrowing by the Fund) | |||||||
| Currencies to be drawn and to be used in repurchases | 1371-(62/36) | 36 | |||||
| 3049-(70/44) | 64 | ||||||
| 3414-(71/98)G/S | 131 | ||||||
| Discrimination | 955-(59/45) | 98 | |||||
| Multiple currency practices (see Multiple currency practices) | |||||||
| Restrictions for security reasons | 144-(52/51) | 93 | |||||
| Retention quotas | 201-(53/29) | 96 | |||||
| Creditworthiness, factor in determining use of Fund’s resource | 102-(52/11) | 23 | |||||
| *270-(53/95) | 28 | ||||||
| Currencies (see also Convertibility): | |||||||
| Adjustment of Fund’s holdings, rates for computations | 3637-(72/41) G/S | 17 | |||||
| Conversion | 298-3 | 124 | |||||
| 119-(52/30) | 67 | ||||||
| 1371-(62/36) | 41 | ||||||
| Convertible, acceptable to the Fund in repurchases, use to obtain special drawing rights to pay charges or assessments | 3010-(70/25)G/S | 132 | |||||
| Intervention | 3463-(71/126) | 12, 15 | |||||
| To be drawn and to be used in repurchases | 1371-(62/36) | 36 | |||||
| 3049-(70/44) | 64 | ||||||
| 3414-(71/98)G/S | 131 | ||||||
| Currencies convertible in fact in accordance with Article XXXII(b)(1) (see also Exchange rates, representative rates): | |||||||
| French franc | 2957-(70/8) S | 134 | |||||
| Sterling | 2955-(70/8) S | 133 | |||||
| U.S. dollar | 2918-(69/128) S | 133 | |||||
| Currency convertible in fact in accordance with Article XXXII(b)(2) (see also Exchange rates, representative rates): | |||||||
| Belgian franc | 2959-(70/8) S | 135 | |||||
| Deutsche mark | 2961-(70/8) S | 136 | |||||
| Italian lira | 2963-(70/8) S | 137 | |||||
| Mexican peso | 2965-(70/8) S | 138 | |||||
| Netherlands guilder | 2988-(70/19) S | 138 | |||||
| D | Deputies (see Committee on Reform of the International Monetary System and Related Issues) | ||||||
| Discriminatory currency arrangements | 3463-(71/126) | 14 | |||||
| Discriminatory practices imposed for balance of payments reasons (see also Exchange restrictions) | 955-(59/45) | 98 | |||||
| Drawings (see Use of Fund’s resources) | |||||||
| E | Enemy-occupied, former, members, introduction of multiple currency practices | 237-2 | 108, 110 | ||||
| Enemy-occupied territories, former, determination of net official holdings | 298-3 | 4 | |||||
| “Exceptional circumstances,” meaning in Article XIV, Section 4 | 117-1 | 119 | |||||
| 237-2 | 109, 110 | ||||||
| Exchange contracts, unenforceability | 446-4 | 91 | |||||
| Exchange control regulations, Fund prepared to advise whether maintained or imposed consistently with Fund Agreement | 446-4 | 92 | |||||
| Exchange controls on capital transfers | 541-(56/39) | 69 | |||||
| Exchange dealings based on parity | 269-2 | 11 | |||||
| Exchange dealings under conditions of increasing convertibility | 904-(59/32) | 11 | |||||
| Exchange markets, conversion in (see Currencies, conversion) | |||||||
| Intervention | 3463-(71/126) | 15 | |||||
| Exchange rates: | |||||||
| Borrowing arrangements by Fund | 1289-(62/1) | 77 | |||||
| Buying and selling rates | 237-2 | 111 | |||||
| Central rates, temporary regime | 3463-(71/126) | 12 | |||||
| Computations and adjustment of Fund’s holdings of currencies | 3637-(72/41)G/S | 17 | |||||
| Fluctuating: | |||||||
| Multiple currency practices (fixed and fluctuating rates) | 237-2 | 106 | |||||
| 649-(57/33) | 111 | ||||||
| 904-(59/32) | 11 | ||||||
| Scope of transactions to be agreed with Fund | 237-2 | 107 | |||||
| Free markets | 237-2 | 107 | |||||
| Fund approval | 3504-(71/134) | 113 | |||||
| Par values (see Par values) | |||||||
| Provisional, for payment of subscription in case of exchange transaction prior to establishment of initial par value | 1687-(64/22) | 56 | |||||
| Representative rates under Rule 0-3, computations of members’ currency having wider margins | 3637-(72/41) G/S | 18 | |||||
| Representative rates under Rule 0-3 (ii): | |||||||
| Belgian franc | 2960-(70/8) S | 135 | |||||
| Deutsche mark | 2962-(70/8) S | 135 | |||||
| French franc | 2958-(70/8) S | 134 | |||||
| Italian lira | 2964-(70/8) S | 136 | |||||
| Mexican peso | 2966-(70/8) S | 137 | |||||
| Netherlands guilder | 3338-(71/44) S | 138 | |||||
| Sterling | 2956-(70/8) S | 133 | |||||
| Unification in multiple rate systems a basic objective of Fund | 649-(57/33) | 111 | |||||
| Exchange restrictions: | |||||||
| Approval | 1034-(60/27) | 100 | |||||
| Bilateralism | 433-(55/42) | 94 | |||||
| Capital transactions (see Capital transfers) | |||||||
| Consultations with Fund | 1034-(60/27) | 100 | |||||
| Discrimination | 955-(59/45) | 98 | |||||
| Guiding principle of whether measure is a restriction on payments and transfers for current international transactions | 1034-(60/27) | 100 | |||||
| Introduction | 1034-(60/27) | 100 | |||||
| Maintenance | 1034-(60/27) | 100 | |||||
| Multiple currency practices | 237-2 | 105 | |||||
| 649-(57/33) | 111 | ||||||
| Retention quotas | 201-(53/29) | 97 | |||||
| Security reasons (see Payments restrictions) | |||||||
| Transitional arrangements under Article XIV, obligations under Article VIII, Sections 2, 3, and 4 | 1034-(60/27) | 100 | |||||
| Withdrawal | 117-1 | 119 | |||||
| Exchange stability: | |||||||
| External transactions in gold at premium prices | 75-(705) | 8 | |||||
| Fund statement of June 18, 1947 | 10 | ||||||
| Gold subsidies | 233-2 | 7 | |||||
| Multiple currency practices | 237-2 | 106 | |||||
| 3463-(71/126) | 15 | ||||||
| Exchange systems, avoidance of use for nonbalance of payments reasons | 1034-(60/27) | 100 | |||||
| Exchange taxes | 237-2 | 111 | |||||
| Exchange transactions (for purchases of exchange from the Fund, see Use of Fund’s resources): | |||||||
| Fluctuating rates of exchange | 237-2 | 107 | |||||
| Margins (see Margins) | |||||||
| “Other,” dealings in paper money and coins | 269-2 | 11 | |||||
| Prior to establishment of initial par value | 1687-(64/22) | 56 | |||||
| Executive Directors: | |||||||
| Additional appointed, meaning of “the preceding two years” in Article XII, Section 3(c) | 597-4 | 117 | |||||
| Appointment by members having 5 largest quotas | 2-1 | 116 | |||||
| Consultations on currency composition of drawings and repurchases | 1371-(62/36) | 38 | |||||
| Determination of members entitled to appoint under Article XII, Section 3 (c) | *574-2 | 116 | |||||
| Participation in meetings of the Deputies | B/G Res. 27-10 | 153 | |||||
| Prompt notification of request for purchase under stand-by arrangement | 3006-(70/24) | 34 | |||||
| Reports to Board of Governors on reform of international monetary system | B/G Res. 26-9 | 150 | |||||
| To receive reports on operation of buffer stock and developments under Fourth International Tin Agreement | 3179-(70/102) | 49 | |||||
| Voting power, effect of quota changes | 180-5 | 117 | |||||
| Export shortfalls, financing (see Compensatory financing of export fluctuations) | |||||||
| F | Financial year, application to repurchase obligations | 419-1 | 64 | ||||
| 447-5 | 63 | ||||||
| 7-(648) | 66 | ||||||
| Fluctuating rates of exchange (see Exchange rates) | |||||||
| Free markets (see Exchange rates) | |||||||
| Full employment, maintenance (see Fundamental disequilibrium) | |||||||
| Fundamental disequilibrium: | |||||||
| Change in par value | 71-2 | 16 | |||||
| Correction by change in par value | 278-3 | 17 | |||||
| Full employment | 71-2 | 16 | |||||
| Measures necessary to correct, interpretation of Articles of Agreement | 71-2 | 16 | |||||
| G | General Account (see Accounts) | ||||||
| General Agreement on Tariffs and Trade, contracting parties, mutual members to continue to send information on import restrictions imposed for balance of payments reasons | 1034-(60/27) | 101 | |||||
| General Arrangements to Borrow (see Borrowing by the Fund) | |||||||
| General Reserve (see Accounts, General Account) | |||||||
| Gold (see also Subscriptions): | |||||||
| Consultations re external transactions in | 75-(705) | 9 | |||||
| Handling charges: | |||||||
| Sale of gold to Fund by participant designated under Article XXV, Section 5 | 2916-(69/127) | 62 | |||||
| Sale to Fund by South Africa | 2914-(69/127) | 58 | |||||
| Looted, claim by members not a “holding” | 298-3 | 4 | |||||
| Net official holdings of members | 298-3 | 2, 122 | |||||
| Payment of stand-by charges | 155-(52/57) | 27 | |||||
| *270-(53/95) | 30 | ||||||
| Pledge agreement for gold collateral transactions | 1543-(63/39) | 52 | |||||
| Premium prices, transactions at | 75-(705) | 8 | |||||
| 233-2 | 7 | ||||||
| Fund statement of June 18, 1947 | 9 | ||||||
| Purchase or sale for settlement of international transactions | 411-1 | 16 | |||||
| Sale to Fund by participant designated under Article XXV, Section 5 | 2916-(69/127) | 62 | |||||
| Sale to Fund by South Africa, policy | 2914-(69/127) | 57 | |||||
| Sale to Fund in discharge of repurchase obligation—Rule G-7 | 119-52/30) | 67 | |||||
| Subsidies for production, members’ obligation to consult Fund | 233-2 | 7 | |||||
| Transactions at premium prices (see Premium prices, above) | |||||||
| Transactions of members, Fund assistance | 103-(52/12) | 143 | |||||
| 316-(54/27) | 143 | ||||||
| 572-(56/55) | 144 | ||||||
| 1033-(60/26) | 144 | ||||||
| 1116-(60/51) | 145 | ||||||
| Gold tranche transactions (see also Use of Fund’s resources): | |||||||
| Buffer stock financing facility | 3386-(71/83) | 51 | |||||
| Charges under stand-by arrangements | 155-(52/57) | 28 | |||||
| *270-(53/95) | 31 | ||||||
| Compensatory financing of export fluctuations | 2836-(69/87) | 51 | |||||
| Members given overwhelming benefit of doubt | 102-(52/11) | 25, 26 | |||||
| Prior to establishment of initial par value | 1687-(64/22) | 56 | |||||
| Procedure for drawings | 2836-(69/87) | 50 | |||||
| Repurchase | 102-52/11) | 25 | |||||
| Service charge, elimination | 2836-(69/87) | 51 | |||||
| H | “Holding” of gold or United States dollars, meaning | 298-3 | 3 | ||||
| Holdings of the Fund (see Currencies; Repurchases) | |||||||
| I | Import restrictions imposed for balance of payments reasons, GATT members | 1034-(60/27) | 101 | ||||
| Income, net, of the Fund, establishment of General Reserve from | 753-58/17) | 118 | |||||
| Ineligibility (see Stand-by arrangements; Use of Fund’s resources; Withdrawal from membership) | |||||||
| International Monetary Fund: | |||||||
| Agreement with United Nations | 157 | ||||||
| UN Convention on Privileges and Immunities, application to Fund | 182 | ||||||
| members which have accepted with respect to Fund | 183 | ||||||
| International monetary system, reform | B/G Res. 26-9 | 149 | |||||
| Establishment of Board of Governors Committee | B/G Res. 27-10 | 151 | |||||
| Interest: | |||||||
| Payment on Fund indebtedness under General Arrangements to Borrow | 1289-(62/1) | 74 | |||||
| Special drawing rights | 3010-(70/25)G/S | 132 | |||||
| International Tin Agreement, Fourth, Fund’s buffer stock financing facility | 3179-(70/102) | 48 | |||||
| 3351-(71/51) | 49 | ||||||
| “Is using,” meaning in Article V, Section 5 | 292-3 | 36 | |||||
| M | Managing Director: | ||||||
| Consultation on currencies and amounts to be used in acquiring special drawing rights | 3010-(70/25)G/S | 132 | |||||
| Consultations with on currencies to be drawn and used in repurchases | 1371-(62/36) | 37, 38 | |||||
| 3049-(70/44) | 64 | ||||||
| Initiation of procedure for calls under General Arrangements to Borrow | 1289-(62/1) | 72 | |||||
| Participation in meetings of Committee on Reform of the International Monetary System and Related Issues | B/G Res. 27-10 | 152 | |||||
| Margins (see also Exchange rates): | |||||||
| Exchange rates for spot exchange transactions in a convertible currency | 904-(59/32) | 11 | |||||
| Maintenance of 1 per cent margin against intervention currency | 3463-(71/126) | 15 | |||||
| “Other exchange transactions” (paper money and coins) | 269-2 | 11 | |||||
| Price of gold | 75-(705) | 8 | |||||
| 233-2 | 7 | ||||||
| Rates differing from parity by more than 1 per cent constitute multiple currency practices | 237-2 | 111 | |||||
| Rates not maintained within margins of Article IV, Section 3 | 3637-(72/41) G/S | 17 | |||||
| Spot exchange transactions | 904-(59/32) | 11 | |||||
| 3463-(71/126) | 12, 15 | ||||||
| Wider, temporary regime | 3463-(71/126) | 12 | |||||
| Monetary reserves of members: | |||||||
| Calculation | 486-2 | 140 | |||||
| 510-2 | 141 | ||||||
| 3049-(70/44) | 65 | ||||||
| Exclusion of special drawing rights | 2901-(69/122)G/S | 128 | |||||
| 3034-(70/38) | 128 | ||||||
| 3032-(70/38) G/S | 129 | ||||||
| 3320-(71/34)G/S | 129 | ||||||
| Data, means to speed collection and reporting | 102-(52/11) | 25 | |||||
| Effect of payment of gold subscriptions | 124-2 | 63 | |||||
| Importance of gold holdings | 75-(705) | 9 | |||||
| Use in repurchases under Article V, Section 7(b) | 447-5 | 63 | |||||
| Monetary stabilization operations, use of Fund’s resources | 71-2 | 20 | |||||
| Money (see Paper money) | |||||||
| Multiple currency practices (see also Exchange rates; Exchange restrictions): | |||||||
| Auction system Fixed rates Fluctuating rates |
237-2 649-(57/33) |
104 111 |
|||||
| Fund approval | 3504-(71/134) | 113 | |||||
| Margin for spot exchange transactions | 904-(59/32) | 11 | |||||
| Rates differing from parity by more than 1 per cent | 237-2 | 111 | |||||
| Temporary regime of central rates and wider margins | 3463-(71/126) | 14 | |||||
| N | Net official holdings of members, principles of interpretation | 298-3 | 2, 122 | ||||
| O | “Official holdings of a member,” meaning | 298-3 | 122 | ||||
| “Other official institutions” and “other banks,” meaning | 298-3 | 123 | |||||
| P | Paper money, dealings deemed “other exchange transactions” within meaning of Article IV, Section 3 | 269-2 | 11 | ||||
| Par values: | |||||||
| Change to correct a fundamental disequilibrium | 71-2 | 16 | |||||
| 278-3 | 17 | ||||||
| Exchange transactions prior to establishment of initial par value | 1687-(64/22) | 56 | |||||
| Extent of change | 278-3 | 17 | |||||
| Fund’s authority | 278-3 | 17 | |||||
| Margins (see Margins) | |||||||
| Payments arrears | 3153-(70/95) | 102 | |||||
| Payments restrictions (see also Exchange restrictions): | |||||||
| For security reasons, Fund jurisdiction | 144-(52/51) | 93 | |||||
| Withdrawal or general abandonment | 117-1 | 119 | |||||
| “Presently needed,” meaning in Article V, Section 3(a) (i) | 284-4 | 21 | |||||
| Prior agreement of Fund (see Repurchases) | |||||||
| Prior notice to Fund, imposition of payments restrictions for security reasons | 144-(52/51) | 93 | |||||
| Purchase transactions (see Use of Fund’s resources) | |||||||
| Q | Quotas: | ||||||
| Adjustment, first interval of five years | 408-2 | 1 | |||||
| Change: | |||||||
| Effect on voting power of elected Executive Director | 180-5 | 117 | |||||
| Payment | 595-3 | 6 | |||||
| Increases granted in accordance with compensatory financing decision | *1477-(63/8) | 43 | |||||
| Relation to drawing rights | 451-(55/52) | 22 | |||||
| Review, first | 408-2 | 1 | |||||
| R | Rates for official communications of Fund | 534-3 | 114 | ||||
| Rates of exchange (see Exchange rates; Multiple currency practices) | |||||||
| Reconstitution of special drawing rights, procedures. | 3457-(71/121)G/S | 127 | |||||
| Refund (see Stand-by arrangements, charges) | |||||||
| Repayment by Fund of borrowed currency | 1289-(62/1) | 75 | |||||
| Representative rates (see Exchange rates) | |||||||
| “Represents,” meaning in Article V, Section 3(a) (i) | 284-4 | 20 | |||||
| Repurchase obligations: | |||||||
| Application at end of financial year in which calculated | 419-1 | 64 | |||||
| Calculation | 486-2 | 140 | |||||
| Calculation, exclusion of proceeds of loans set aside for repayment of loan in a subsequent year | 510-2 | 141 | |||||
| Effect of payment of subscriptions | 124-2 | 63 | |||||
| Exceeding limit specified in Article V, Section 7(c) | 3049-(70/44) | 64 | |||||
| Relation to Rule G-7 | 119-(52/30) | 67 | |||||
| Repayment within period of 3 to 5 years | 102-(52/11) | 24 | |||||
| Use of monetary reserves for repurchases under Article V, Section 7(b) | 447-5 | 63 | |||||
| Repurchases: | |||||||
| Augmentation of stand-by arrangement by equivalent amount | 876-(59/15) | 31 | |||||
| Buffer stock financing | 2772-(69/47) | 48 | |||||
| Currency borrowed by Fund | 1289-(62/1) | 76 | |||||
| Currency composition | 1371-(62/36) | 36 | |||||
| Drawings under compensatory financing decision | *1477-(63/8) | 45 | |||||
| Exclusion of special drawing rights | 2901-(69/122)G/S | 128 | |||||
| 3034-(71/38) | 128 | ||||||
| 3032-(70/38)G/S | 129 | ||||||
| 3320-(71/34)G/S | 129 | ||||||
| Gold collateral transactions | 1543-(63/39) | 52 | |||||
| Of Fund’s holdings | 102-(52/11) | 22 | |||||
| *270-(53/95) | 28 | ||||||
| Prior agreement of Fund needed | 1371-(62/36) | 37 | |||||
| Sale of gold to Fund—Rule G-7 | 119-(52/30) | 67 | |||||
| Use of special drawing rights | 2901-(69/122)G/S | 130 | |||||
| 3188-(70/106)G/S | 130 | ||||||
| Voluntary | 7-(648) | 66 | |||||
| Within 3 to 5 years | 102-(52/11) | 24 | |||||
| Reserve, General, and Reserve, Special, of the Fund (see Accounts, General Account) | |||||||
| Reserve position of members, consideration in currency composition of drawings and repurchases | 1371-(62/36) | 39 | |||||
| Restrictions (see Exchange restrictions; Payments restrictions) | |||||||
| Retention quotas | 201-(53/29) | 96 | |||||
| Rule G-7, sale of gold to Fund in discharge of repurchase obligation | 119-(52/30) | 67 | |||||
| Rule P-2, reconstitution, allocation of SDRs | 3457-(71/121)G/S | 127 | |||||
| S | Schedules B, D, E, G (see Articles of Agreement) | ||||||
| Security, payments restrictions imposed for | 144-(52/51) | 93 | |||||
| “Similar fiscal agency,” meaning | 298-3 | 122 | |||||
| South Africa, sales of gold to Fund, policy | 2914-(69/127) | 57 | |||||
| Special Drawing Account (see Accounts) | |||||||
| Special drawing rights: | |||||||
| Exclusion in calculating monetary reserves | 2901-(69/122)G/S | 128 | |||||
| 3032-(70/38)G/S | 129 | ||||||
| 3034-(70/38) | 128 | ||||||
| 3320-(71/34)G/S | 129 | ||||||
| Obtained in transaction through General Account to pay charges or assessments | 3010-(70/25)G/S | 132 | |||||
| Obtained to promote reconstitution | 3457-(71/121)G/S | 127 | |||||
| Transfer to participants making purchases from Fund | 3414-(71/98)G/S | 131 | |||||
| Use in repurchases and payment of charges | 2901-(69/122)G/S | 130 | |||||
| 3188-(70/106)G/S | 130 | ||||||
| Spot exchange transactions | 904-(59/32) | 11 | |||||
| 3463-(71/126) | 12, 15 | ||||||
| Stabilization of prices of primary products | 2772-(69/47) | 47 | |||||
| Fourth International Tin Agreement: buffer stock financing | 3179-(70/102) | 48 | |||||
| 3351-(71/51) | 49 | ||||||
| Stand-by arrangements: | |||||||
| Amounts | 155-(52/57) | 27 | |||||
| *270-(53/95) | 28 | ||||||
| 876-(59/15) | 31 | ||||||
| Augmentation by amounts of repurchases | 876-(59/15) | 31 | |||||
| Cancellation, repayment of portion of charge | *270-(53/95) | 30 | |||||
| Charges | 155-(52/57) | 27 | |||||
| *270-(53/95) | 29 | ||||||
| Refund | *1345-(62/23) | 34 | |||||
| Consultation, phasing and performance clauses. | 2603-(68/132) | 32 | |||||
| Currency borrowed by the Fund | 1289-(62/1) | 72 | |||||
| Currency composition of drawings | 1371-(62/36) | 37 | |||||
| Gold tranche drawings | 155-(52/57) | 27 | |||||
| *270-(53/95) | 31 | ||||||
| 2836-(69/87) | 51 | ||||||
| Ineligibility | 155-(52/57) | 27 | |||||
| *270-(53/95) | 28 | ||||||
| Payments arrears, performance criteria | 3153-(70/95) | 103 | |||||
| Period | 155-(52/57) | 26 | |||||
| *270-(53/95) | 28 | ||||||
| Phasing and performance clauses | 2603-(68/132) | 33 | |||||
| Policies and procedures | 155-(52/57) | 26 | |||||
| *270-(53/95) | 28 | ||||||
| 2603-(68/132) | 32 | ||||||
| Procedures for purchases under | 3006-(70/24) | 34 | |||||
| Renewal | 155-(52/57) | 26 | |||||
| *270-(53/95) | 28 | ||||||
| Suspension of rights to engage in drawings | 155-(52/57) | 27 | |||||
| *270-(53/95) | 29 | ||||||
| Subscriptions (see also Net official holdings of members): | |||||||
| Currency, payment on basis of provisional exchange rate for exchange transaction prior to establishment of initial par value | 1687-(64/22) | 56 | |||||
| Gold: | |||||||
| Calculation | 298-3 | 3, 124 | |||||
| Effect of payment on repurchase obligations | 124-2 | 63 | |||||
| Payments for quota increases | 595-3 | 6 | |||||
| Gold and currency, ownership by Fund | 170-3 | 2 | |||||
| Switzerland: | |||||||
| Association with General Arrangements to Borrow | 1712-(64/29) | 84 | |||||
| 2377-(67/85) | 87 | ||||||
| 3363-(71/60) | 89 | ||||||
| Party to gold transactions with Fund members | 316-(54/27) | 143 | |||||
| T | Technical assistance, Fund ready to meet requests in preparation of economic programs and measures for exchange simplification | 649-(57/33) | 112 | ||||
| Tin Agreement, Fourth International (see Buffer stocks) | 26 | ||||||
| Tranche policies (see also Gold tranche) | * 1477-(63/8) | 46 | |||||
| Transfers, restrictions on (see Exchange restrictions; Payments restrictions) | |||||||
| Transitional provisions of Article XIV | 1034-(60/27) | 100 | |||||
| 237-2 | 106, 109 | ||||||
| 117-1 | 119 | ||||||
| U | Unenforceability (see Exchange contracts) | ||||||
| United Nations: | |||||||
| Agreement with International Monetary Fund | 157 | ||||||
| Convention on the Privileges and Immunities of the Specialized Agencies | 164 | ||||||
| U.S. dollars, determination of net official holdings of members | 298-3 | 2, 122 | |||||
| “United States dollars,” holdings of, interpretation | 298-3 | 3 | |||||
| United States, purchase or sale of gold within meaning of Article IV, Section 4(b) | 411-1 | 17 | |||||
| Use of Fund’s resources (see also Borrowing by the Fund; Charges; Stand-by arrangements): | |||||||
| Application of same policy to stand-by arrangements as to requests for immediate drawings | 155-(52/57) | 26 | |||||
| *270-(53/95) | 29 | ||||||
| Authority to use resources of Fund | 71-2 | 20 | |||||
| Balance of payments deficit on current account | 71-2 | 20 | |||||
| Buffer stock facility as applied to Fourth International Tin Agreement | 3179-(70/102) | 48 | |||||
| 3351-(71/51) | 49 | ||||||
| Buffer stock financing | 2772-(69/47) | 47 | |||||
| Capital transfers | 1238-(61/43) | 20 | |||||
| Conditions in Article V, Section 3(a) (i) | 284-4 | 20 | |||||
| “Consistent with the provisions of this Agreement” in Article V, Section 3, meaning | 287-3 | 21 | |||||
| Currency borrowed by the Fund | 1289-(62/1) | 73 | |||||
| Currency composition of drawings | 1371-(62/36) | 36 | |||||
| Drawing policies in connection with compensatory financing of export fluctuations | *1477-(63/8) | 43 | |||||
| Drawing rights, meaning of 25 per cent of quota | 451-(55/52) | 21 | |||||
| Exchange transactions prior to establishment of initial par value | 1687-(64/22) | 56 | |||||
| Gold collateral transactions | 1543-(63/39) | 52 | |||||
| “Gold tranche” drawings | 102-(52/11) | 25 | |||||
| 155-02/57) | 27 | ||||||
| *27O-03/95) | 31 | ||||||
| 1687-(64/22) | 56 | ||||||
| 2836-(69/87) | 50 | ||||||
| 3386-(71/83) | 51 | ||||||
| In accordance with purposes of Fund | 102-(52/11) | 22, 25 | |||||
| Ineligibility: | |||||||
| Effect on purchases under stand-by arrangement | 155-(52/57) | 27 | |||||
| *270-(53/95) | 28 | ||||||
| Under Article V, Section 5 | 284-3 | 35 | |||||
| Under Article XV, Section 2(a) | 343-(54/47) | 120 | |||||
| “Is using” in Article V, Section 5, meaning | 292-3 | 36 | |||||
| Limitation under Article V, Section 5 | 284-3 | 35 | |||||
| 286-1 | 35 | ||||||
| Monetary stabilization | 71-2 | 20 | |||||
| Period of use | 102-(52/11) | 24 | |||||
| 155-02/57) | 27 | ||||||
| *270-(53/95) | 28 | ||||||
| Policy | 102-(52/11) | 22 | |||||
| 155-02/57) | 26 | ||||||
| *270-(53/95) | 29 | ||||||
| 649-07/33) | 112 | ||||||
| Postponement: | |||||||
| Limitation under Article V, Section 5 | 286-1 | 35 | |||||
| Under Article XX, Section 4(i) | 284-2 | 126 | |||||
| “Presently needed” in Article V, Section 3(a)(i), meaning | 284-4 | 21 | |||||
| Prior to establishment of initial par value | 1687-(64/22) | 56 | |||||
| Purchases under stand-by arrangements, procedure | 3006-(70/24) | 34 | |||||
| “Represents” in Article V, Section 3(a) (i), meaning | 284-4 | 20 | |||||
| Requests from members proposing appropriate and adequate exchange simplification and related economic programs to be given sympathetic consideration | 649-(57/33) | 112 | |||||
| Resumption of purchases under a stand-by arrangement after decision of formal ineligibility or to consider such a proposal | *270-(53/95) | 29 | |||||
| Suspension of exchange transaction, effect on borrowing arrangements | 1289-(62/1) | 79 | |||||
| Suspension of transactions under stand-by arrangements | 155-(52/57) | 27 | |||||
| *270-(53/95) | 29 | ||||||
| Temporary assistance in financing balance of payments deficits | 71-2 | 20 | |||||
| Tranche policies | 26 | ||||||
| *1477-(63/8) | 46 | ||||||
| Transfer of SDRs in General Account to participants | 3414-(71/98)G/S | 131 | |||||
| Waiver of 200 per cent of quota limit | *1477-(63/8) | 46 | |||||
| 2772-(69/47) | 48 | ||||||
| V | Voting power, elected Executive Directors, effect of change in quota | 180-5 | 117 | ||||
| W | Withdrawal from membership | 343-(54/47) | 120 | ||||
| Effect on participant in borrowing arrangement | 1289-(62/1) | 79 | |||||
| “Working balances,” meaning | 298-3 | 123 | |||||
| Decision No. | Page | ||||||
|---|---|---|---|---|---|---|---|
| A | Accounting by members for transactions with the Fund | 170-3 | 2 | ||||
| Accounts: | |||||||
| General Account: | |||||||
| Accounts receivable or payable, establishment for adjustment of currency holding | 3637-(72/41) G/S | 18 | |||||
| General Reserve, establishment from net income | 753-(58/17) | 118 | |||||
| Special account, gold collateral transactions | 1543-(63/39) | 53 | |||||
| Transactions to obtain special drawing rights to pay charges or assessments | 3010-(70/25)G/S | 132 | |||||
| Transfer of SDRs to participants making purchases from Fund | 3414-(71/98)G/S | 131 | |||||
| Use of special drawing rights to settle all charges | 2901-(69/122)G/S | 130 | |||||
| 3188-(70/106)G/S | 130 | ||||||
| Special Drawing Account (see also Currencies convertible in fact; Currency convertible in fact; Exchange rates, representative rates): | |||||||
| Participant designated under Article XXV, Section 5, sale of gold to Fund | 2916-(69/127) | 62 | |||||
| Payment of interest, charges, and assessments | 3010-(70/25)G/S | 132 | |||||
| Articles of Agreement: | |||||||
| Amendment | 2493-(68/74) | 121 | |||||
| Article I, purposes of the Fund | 287-3 | 21 | |||||
| 433-(55/42) | 94 | ||||||
| 1034-(60/27) | 99 | ||||||
| 1687-(64/22) | 56 | ||||||
| Article III, Section 2, adjustment of quotas | 408-2 | 1 | |||||
| Article III, Section 3, subscription payments | 298-3 | 2, 4, 5, 124 | |||||
| Article III, Sections 3 and 4, changes in quotas | 595-3 | 6 | |||||
| Article IV, Section 1, borrowing arrangements | 1289-(62/1) | 78 | |||||
| gold value | 298-3 | 4 | |||||
| Article IV, Section 2, price of gold | 75-(705) | 9 | |||||
| 233-2 | 7 | ||||||
| Section 3, margins | 269-2 | 11 | |||||
| 904-(59/32) | 11 | ||||||
| 3463-(71/126) | 13 | ||||||
| 3637-(72/41) G/S | 17 | ||||||
| Article IV, Section 4(a), exchange stability | 233-2 | 7 | |||||
| margins | 3463-(71/126) | 12, 15 | |||||
| multiple currency practices | 237-2 | 110 | |||||
| Article IV, Section 4(b), purchase and sale of gold | 411-1 | 16 | |||||
| Article IV, Section 5, changes in par values | 71-2 | 16 | |||||
| 278-3 | 17 | ||||||
| Article IV, Section 8, maintenance of gold value of Fund assets | 3637-(72/41) G/S | 18 | |||||
| Article V, Section 1, borrowing arrangements | 1289-(62/1) | 78 | |||||
| Article V, Section 3(a), “consistent with the provisions of this Agreement,” meaning | 287-3 | 21 | |||||
| gold tranche purchases | 3386-(71/83) | 51 | |||||
| meaning of Section 3 (a) (i) | 284-4 | 20 | |||||
| meaning of Section 3(a) (iii) | 451-(55/52) | 21 | |||||
| stand-by arrangements | 155-(52/57) | 27 | |||||
| use of Fund’s resources | 102-(52/11) | 22 | |||||
| 2836-(69/87) | 50 | ||||||
| Article V, Section 3(d), gold tranche purchases | 2836-(69/87) | 50 | |||||
| Article V, Section 4, gold collateral transactions | 1543-(63/39) | 52 | |||||
| stand-by arrangements | 155-(52/57) | 27 | |||||
| waivers under | 1543-(63/39) | 52 | |||||
| Article V, Section 5, limitation on use | 284-3 | 35 | |||||
| 286-1 | 35 | ||||||
| “is using,” meaning | 292-3 | 36 | |||||
| Article V, Section 6, repurchase obligation | 119-(52/30) | 67 | |||||
| sales of gold to Fund | 2914-(69/127) | 58 | |||||
| voluntary repurchase | 7-(648) | 66 | |||||
| Article V, Section 7, repurchase obligations | 124-2 | 63 | |||||
| 102-(52/11) | 25 | ||||||
| Article V, Section 7(b), borrowing arrangements | 1289-(62/1) | 76 | |||||
| computations | 3637-(72/41) G/S | 18 | |||||
| repurchase obligations | 447-5 | 63 | |||||
| 7-(648) | 66 | ||||||
| 119-(52/30) | 67 | ||||||
| 1371-(62/36) | 37 | ||||||
| 3032-(70/38)G/S | 129 | ||||||
| 3049-(70/44) | 64 | ||||||
| 3320-(71/34)G/S | 129 | ||||||
| Article V, Section 7(c), repurchase obligations | 419-1 | 64 | |||||
| 3049-(70/44) | 64 | ||||||
| Article V, Section 8(a), (c), and (e), borrowing arrangements | 1289-(62/1) | 74 | |||||
| Article V, Section 8(d), consultation to reduce Fund’s holdings | 102-(52/11) | 24 | |||||
| Article V, Section 8(f), rates for computations | 3637-(72/41) G/S | 18 | |||||
| stand-by arrangements | 155-(52/57) | 27 | |||||
| *270-(53/95) | 28 | ||||||
| Article VI, Section 1, use of Fund’s resources | 71-2 | 20 | |||||
| 541-(56/39) | 69 | ||||||
| 1238-(61/43) | 20 | ||||||
| Article VI, Section 3, controls on capital transfers | 541-(56/39) | 69 | |||||
| Article VII, Section 2, General Arrangements to Borrow | 1289-(62/1) | 70 | |||||
| Article VII, Section 3(b), security restrictions | 144-(52/51) | 93 | |||||
| Article VIII, retention quotas | 201-(53/29) | 97 | |||||
| bilateralism | 433-(55/42) | 94 | |||||
| Article VIII and Article XIV | 1034-(60/27) | 99 | |||||
| Article VIII, Section 2(a), security restrictions | 144-(52/51) | 93 | |||||
| payments restrictions | 3153-(70/95) | 102 | |||||
| Article VIII, Section 2(b), unenforceability of exchange contracts | 446-4 | 91 | |||||
| Article VIII, Section 3, discrimination | 955-(59/45) | 98 | |||||
| multiple currency practices | 237-2 | 108 | |||||
| 649-(57/33) | 111 | ||||||
| 3463-(71/126) | 14 | ||||||
| Article IX, Section 7, privilege for communications | 534-3 | 114 | |||||
| Article XII, Section 3(b) | *574-2 | 116 | |||||
| Article XII, Sections 3 (b) (i) and 3 (f) | 2-1 | 116 | |||||
| Article XII, Section 3(c), “the preceding two years,” meaning | 597-4 | 117 | |||||
| additional appointed Executive Directors | *574-2 | 116 | |||||
| Article XII, Section 5, voting power of Executive Directors | 180-5 | 117 | |||||
| Article XII, Section 6, establishment of a General Reserve from net income | 753-(58/17) | 118 | |||||
| Article XII, Section 8 | 2603-(68/132) | 33 | |||||
| Article XIV, retention quotas | 201-(53/29) | 96 | |||||
| Articles VIII and XIV | 1034-(60/27) | 99 | |||||
| bilateralism | 433-(55/42) | 94 | |||||
| Article XIV, Section 2, multiple currency practices | 237-2 | 109 | |||||
| 3463-(71/126) | 14 | ||||||
| security restrictions | 144-(52/51) | 93 | |||||
| payments restrictions | 3153-(70/95) | 102 | |||||
| transitional arrangements | 446-4 | 92 | |||||
| Article XIV, Section 3 | 1034-(60/27) | 100 | |||||
| Article XIV, Section 4 | 237-2 | 109 | |||||
| 117-1 | 119 | ||||||
| Article XV, Section 2 | 343-(54/47) | 120 | |||||
| Article XV, Section 3, borrowing arrangements | 1289-(62/1) | 79 | |||||
| Article XVI, Section 1, stand-by arrangements | 155-(52/57) | 27 | |||||
| *270-(53/95) | 29 | ||||||
| borrowing arrangements | 1289-(62/1) | 79 | |||||
| Article XVIII (a), list of interpretations under | xvi | ||||||
| Article XIX (b), (c), and (h), net official holdings | 298-3 | 122 | |||||
| Article XIX (d) | 298-3 | 3 | |||||
| Article XIX (j) | 2836-(69/87) | 51 | |||||
| Article XX, Section 2 (g) | 298-3 | 125 | |||||
| 3463-(71/126) | 15 | ||||||
| Article XX, Section 4 | 298-3 | 3, 5 | |||||
| Article XX, Section 4(i) | 284-2 | 126 | |||||
| Article XXV, Section 2, special drawing rights obtained by participant | 3414-(71/98)G/S | 131 | |||||
| 3457-(71/121)G/S | 127 | ||||||
| Article XXV, Section 5, sale of gold to Fund by participant designated | 2914-(69/127) | 57 | |||||
| 2916-(69/127) | 62 | ||||||
| Article XXV, Sections 6(a) and 7(f) | 3457-(71/121)G/S | 127 | |||||
| Article XXVI, Section 5, payment of interest, charges, and assessments | 3010-(70/25)G/S | 132 | |||||
| Article XXXII(b)(1) (see Currencies convertible in fact) | 3010-(70/25)G/S | 132 | |||||
| Article XXXII(b)(2) (see Currency convertible in fact) | |||||||
| Schedule B | 486-2 | 140 | |||||
| 510-2 | 141 | ||||||
| 7-(648) | 66 | ||||||
| 119-(52/30) | 67 | ||||||
| 3032-(70/38)G/S | 129 | ||||||
| 3049-(70/44) | 64 | ||||||
| 3320-(71/34) G/S | 129 | ||||||
| 3637-(72/41) G/S | 18 | ||||||
| Schedule D | 1289-(62/1) | 79 | |||||
| Schedule E | 1289-(62/1) | 79 | |||||
| Schedule G | 3457-(71/121)G/S | 127 | |||||
| Auction system (see also Multiple currency practices | 237-2 | 107 | |||||
| B | Balance of payments position: | ||||||
| Currency composition of drawings and repurchases | 1371-(62/36) | 39 | |||||
| Discrimination for balance of payments reasons | 955-(59/45) | 98 | |||||
| Bilateralism | 433-(55/42) | 94 | |||||
| 955-(59/45) | 98 | ||||||
| Borrowing by the Fund: | |||||||
| General Arrangements to Borrow | 1289-(62/1) | 70 | |||||
| Association of Switzerland | 1712-(64/29) | 84 | |||||
| 2377-(67/85) | 87 | ||||||
| 3363-(71/60) | 89 | ||||||
| Renewals | 1951-(65/54) | 83 | |||||
| 2858-(69/96) | 84 | ||||||
| Buffer stocks, international, financing | 2772-(69/47) | 47 | |||||
| Fourth International Tin Agreement | 3179-(70/102) | 48 | |||||
| 3351-(71/51) | 49 | ||||||
| Gold tranche purchases | 3386-(71/83) | 51 | |||||
| C | Capital transfers: | ||||||
| Controls by members | 541-(56/39) | 69 | |||||
| Restrictions | 237-2 | 106 | |||||
| Use of Fund’s resources for | 1238-(61/43) | 20 | |||||
| Central banks, conversion of currency | 1371-(62/36) | 41 | |||||
| “Central holdings,” meaning | 298-3 | 122 | |||||
| Central rates | 3463-(71/126) | 12 | |||||
| “Changing circumstances,” adaptation of multiple currency practices | 237-2 | 110 | |||||
| Charges: | |||||||
| General Arrangements to Borrow | 1289-(62/1) | 74 | |||||
| Gold sales to Fund by South Africa | 2914-(69/127) | 58 | |||||
| Gold sales to Fund for payment of repurchase obligations | 119-(52/30) | 67 | |||||
| Gold tranche purchases, no service charge after July 27, 1969 | 2836-(69/87) | 51 | |||||
| Gold transactions of members | 103-(52/12) | 143 | |||||
| Level for reduction of Fund’s holdings pursuant to Article V, Section 8(d) | 102-(52/11) | 24 | |||||
| Payment in special drawing rights | 2901-(69/122)G/S | 130 | |||||
| 3010-(70/25) G/S | 132 | ||||||
| 3188-(70/106)G/S | 130 | ||||||
| Stand-by arrangements | 155-(52/57) | 27 | |||||
| *270-(53/95) | 29 | ||||||
| Refund | *1345-(62/23) | 34 | |||||
| Coins, dealings deemed “other exchange transactions” within meaning of Article IV, Section 3 (see also Margins) | 269-2 | 11 | |||||
| Committee on Reform of the International Monetary System and Related Issues | B/G Res. 27-10 | 151 | |||||
| Commodities: | |||||||
| Buffer stock financing | 2772-(69/47) | 47 | |||||
| Tin | 3179-(70/102) | 48 | |||||
| 3351-(71/51) | 49 | ||||||
| Prices, effect on export earnings | *1477-(63/8) | 43 | |||||
| Reclassification where subject to multiple currency practices | 237-2 | 109, 110 | |||||
| Communications, privilege for | 534-3 | 114 | |||||
| Compensatory financing of export fluctuations | *1477-(63/8) | 42 | |||||
| Gold tranche purchases | 2836-(69/87) | 51 | |||||
| “Consistent with the provisions of this Agreement,” meaning in Article V, Section 3 | 287-3 | 21 | |||||
| Consultations with members: | |||||||
| Bilateral arrangements | 433-(55/42) | 95 | |||||
| Commodity field, attention to policies | 2772-(69/47) | 48 | |||||
| Currencies to be drawn and to be used in repurchases | 1371-(62/36) | 37, 38 | |||||
| 3049-(70/44) | 64 | ||||||
| Exchange measures needing approval under Article VIII | 1034-(60/27) | 100 | |||||
| External transactions in gold | 75-(705) | 9 | |||||
| Gold production subsidies | 233-2 | 7 | |||||
| Multiple currency practices | 237-2 | 105 | |||||
| Periodic discussions under Article VIII | 1034-(60/27) | 101 | |||||
| Reduction in Fund’s holdings | 102-(52/11) | 24 | |||||
| Retention quotas | 201-(53/29) | 96 | |||||
| Stand-by arrangements: | |||||||
| Clauses included | 2603-(68/132) | 32 | |||||
| Resumption of purchases | *270-(53/95) | 29 | |||||
| Whether measure is exchange restriction | 1034-(60/27) | 100 | |||||
| Convertibility (see also Currencies convertible in fact; Currency convertible in fact): | |||||||
| Acceptance of obligations of Article VIII, Sections 2, 3, and 4 | 1034-(60/27) | 100 | |||||
| Approval of exchange restrictions | 1034-(60/27) | 100 | |||||
| Bilateralism | 433-(55/42) | 94 | |||||
| Consultation with Fund | 1034-(60/27) | 100 | |||||
| Convertible currency margins | 904-(59/32) | 11 | |||||
| Credit arrangements (see Borrowing by the Fund) | |||||||
| Currencies to be drawn and to be used in repurchases | 1371-(62/36) | 36 | |||||
| 3049-(70/44) | 64 | ||||||
| 3414-(71/98)G/S | 131 | ||||||
| Discrimination | 955-(59/45) | 98 | |||||
| Multiple currency practices (see Multiple currency practices) | |||||||
| Restrictions for security reasons | 144-(52/51) | 93 | |||||
| Retention quotas | 201-(53/29) | 96 | |||||
| Creditworthiness, factor in determining use of Fund’s resource | 102-(52/11) | 23 | |||||
| *270-(53/95) | 28 | ||||||
| Currencies (see also Convertibility): | |||||||
| Adjustment of Fund’s holdings, rates for computations | 3637-(72/41) G/S | 17 | |||||
| Conversion | 298-3 | 124 | |||||
| 119-(52/30) | 67 | ||||||
| 1371-(62/36) | 41 | ||||||
| Convertible, acceptable to the Fund in repurchases, use to obtain special drawing rights to pay charges or assessments | 3010-(70/25)G/S | 132 | |||||
| Intervention | 3463-(71/126) | 12, 15 | |||||
| To be drawn and to be used in repurchases | 1371-(62/36) | 36 | |||||
| 3049-(70/44) | 64 | ||||||
| 3414-(71/98)G/S | 131 | ||||||
| Currencies convertible in fact in accordance with Article XXXII(b)(1) (see also Exchange rates, representative rates): | |||||||
| French franc | 2957-(70/8) S | 134 | |||||
| Sterling | 2955-(70/8) S | 133 | |||||
| U.S. dollar | 2918-(69/128) S | 133 | |||||
| Currency convertible in fact in accordance with Article XXXII(b)(2) (see also Exchange rates, representative rates): | |||||||
| Belgian franc | 2959-(70/8) S | 135 | |||||
| Deutsche mark | 2961-(70/8) S | 136 | |||||
| Italian lira | 2963-(70/8) S | 137 | |||||
| Mexican peso | 2965-(70/8) S | 138 | |||||
| Netherlands guilder | 2988-(70/19) S | 138 | |||||
| D | Deputies (see Committee on Reform of the International Monetary System and Related Issues) | ||||||
| Discriminatory currency arrangements | 3463-(71/126) | 14 | |||||
| Discriminatory practices imposed for balance of payments reasons (see also Exchange restrictions) | 955-(59/45) | 98 | |||||
| Drawings (see Use of Fund’s resources) | |||||||
| E | Enemy-occupied, former, members, introduction of multiple currency practices | 237-2 | 108, 110 | ||||
| Enemy-occupied territories, former, determination of net official holdings | 298-3 | 4 | |||||
| “Exceptional circumstances,” meaning in Article XIV, Section 4 | 117-1 | 119 | |||||
| 237-2 | 109, 110 | ||||||
| Exchange contracts, unenforceability | 446-4 | 91 | |||||
| Exchange control regulations, Fund prepared to advise whether maintained or imposed consistently with Fund Agreement | 446-4 | 92 | |||||
| Exchange controls on capital transfers | 541-(56/39) | 69 | |||||
| Exchange dealings based on parity | 269-2 | 11 | |||||
| Exchange dealings under conditions of increasing convertibility | 904-(59/32) | 11 | |||||
| Exchange markets, conversion in (see Currencies, conversion) | |||||||
| Intervention | 3463-(71/126) | 15 | |||||
| Exchange rates: | |||||||
| Borrowing arrangements by Fund | 1289-(62/1) | 77 | |||||
| Buying and selling rates | 237-2 | 111 | |||||
| Central rates, temporary regime | 3463-(71/126) | 12 | |||||
| Computations and adjustment of Fund’s holdings of currencies | 3637-(72/41)G/S | 17 | |||||
| Fluctuating: | |||||||
| Multiple currency practices (fixed and fluctuating rates) | 237-2 | 106 | |||||
| 649-(57/33) | 111 | ||||||
| 904-(59/32) | 11 | ||||||
| Scope of transactions to be agreed with Fund | 237-2 | 107 | |||||
| Free markets | 237-2 | 107 | |||||
| Fund approval | 3504-(71/134) | 113 | |||||
| Par values (see Par values) | |||||||
| Provisional, for payment of subscription in case of exchange transaction prior to establishment of initial par value | 1687-(64/22) | 56 | |||||
| Representative rates under Rule 0-3, computations of members’ currency having wider margins | 3637-(72/41) G/S | 18 | |||||
| Representative rates under Rule 0-3 (ii): | |||||||
| Belgian franc | 2960-(70/8) S | 135 | |||||
| Deutsche mark | 2962-(70/8) S | 135 | |||||
| French franc | 2958-(70/8) S | 134 | |||||
| Italian lira | 2964-(70/8) S | 136 | |||||
| Mexican peso | 2966-(70/8) S | 137 | |||||
| Netherlands guilder | 3338-(71/44) S | 138 | |||||
| Sterling | 2956-(70/8) S | 133 | |||||
| Unification in multiple rate systems a basic objective of Fund | 649-(57/33) | 111 | |||||
| Exchange restrictions: | |||||||
| Approval | 1034-(60/27) | 100 | |||||
| Bilateralism | 433-(55/42) | 94 | |||||
| Capital transactions (see Capital transfers) | |||||||
| Consultations with Fund | 1034-(60/27) | 100 | |||||
| Discrimination | 955-(59/45) | 98 | |||||
| Guiding principle of whether measure is a restriction on payments and transfers for current international transactions | 1034-(60/27) | 100 | |||||
| Introduction | 1034-(60/27) | 100 | |||||
| Maintenance | 1034-(60/27) | 100 | |||||
| Multiple currency practices | 237-2 | 105 | |||||
| 649-(57/33) | 111 | ||||||
| Retention quotas | 201-(53/29) | 97 | |||||
| Security reasons (see Payments restrictions) | |||||||
| Transitional arrangements under Article XIV, obligations under Article VIII, Sections 2, 3, and 4 | 1034-(60/27) | 100 | |||||
| Withdrawal | 117-1 | 119 | |||||
| Exchange stability: | |||||||
| External transactions in gold at premium prices | 75-(705) | 8 | |||||
| Fund statement of June 18, 1947 | 10 | ||||||
| Gold subsidies | 233-2 | 7 | |||||
| Multiple currency practices | 237-2 | 106 | |||||
| 3463-(71/126) | 15 | ||||||
| Exchange systems, avoidance of use for nonbalance of payments reasons | 1034-(60/27) | 100 | |||||
| Exchange taxes | 237-2 | 111 | |||||
| Exchange transactions (for purchases of exchange from the Fund, see Use of Fund’s resources): | |||||||
| Fluctuating rates of exchange | 237-2 | 107 | |||||
| Margins (see Margins) | |||||||
| “Other,” dealings in paper money and coins | 269-2 | 11 | |||||
| Prior to establishment of initial par value | 1687-(64/22) | 56 | |||||
| Executive Directors: | |||||||
| Additional appointed, meaning of “the preceding two years” in Article XII, Section 3(c) | 597-4 | 117 | |||||
| Appointment by members having 5 largest quotas | 2-1 | 116 | |||||
| Consultations on currency composition of drawings and repurchases | 1371-(62/36) | 38 | |||||
| Determination of members entitled to appoint under Article XII, Section 3 (c) | *574-2 | 116 | |||||
| Participation in meetings of the Deputies | B/G Res. 27-10 | 153 | |||||
| Prompt notification of request for purchase under stand-by arrangement | 3006-(70/24) | 34 | |||||
| Reports to Board of Governors on reform of international monetary system | B/G Res. 26-9 | 150 | |||||
| To receive reports on operation of buffer stock and developments under Fourth International Tin Agreement | 3179-(70/102) | 49 | |||||
| Voting power, effect of quota changes | 180-5 | 117 | |||||
| Export shortfalls, financing (see Compensatory financing of export fluctuations) | |||||||
| F | Financial year, application to repurchase obligations | 419-1 | 64 | ||||
| 447-5 | 63 | ||||||
| 7-(648) | 66 | ||||||
| Fluctuating rates of exchange (see Exchange rates) | |||||||
| Free markets (see Exchange rates) | |||||||
| Full employment, maintenance (see Fundamental disequilibrium) | |||||||
| Fundamental disequilibrium: | |||||||
| Change in par value | 71-2 | 16 | |||||
| Correction by change in par value | 278-3 | 17 | |||||
| Full employment | 71-2 | 16 | |||||
| Measures necessary to correct, interpretation of Articles of Agreement | 71-2 | 16 | |||||
| G | General Account (see Accounts) | ||||||
| General Agreement on Tariffs and Trade, contracting parties, mutual members to continue to send information on import restrictions imposed for balance of payments reasons | 1034-(60/27) | 101 | |||||
| General Arrangements to Borrow (see Borrowing by the Fund) | |||||||
| General Reserve (see Accounts, General Account) | |||||||
| Gold (see also Subscriptions): | |||||||
| Consultations re external transactions in | 75-(705) | 9 | |||||
| Handling charges: | |||||||
| Sale of gold to Fund by participant designated under Article XXV, Section 5 | 2916-(69/127) | 62 | |||||
| Sale to Fund by South Africa | 2914-(69/127) | 58 | |||||
| Looted, claim by members not a “holding” | 298-3 | 4 | |||||
| Net official holdings of members | 298-3 | 2, 122 | |||||
| Payment of stand-by charges | 155-(52/57) | 27 | |||||
| *270-(53/95) | 30 | ||||||
| Pledge agreement for gold collateral transactions | 1543-(63/39) | 52 | |||||
| Premium prices, transactions at | 75-(705) | 8 | |||||
| 233-2 | 7 | ||||||
| Fund statement of June 18, 1947 | 9 | ||||||
| Purchase or sale for settlement of international transactions | 411-1 | 16 | |||||
| Sale to Fund by participant designated under Article XXV, Section 5 | 2916-(69/127) | 62 | |||||
| Sale to Fund by South Africa, policy | 2914-(69/127) | 57 | |||||
| Sale to Fund in discharge of repurchase obligation—Rule G-7 | 119-52/30) | 67 | |||||
| Subsidies for production, members’ obligation to consult Fund | 233-2 | 7 | |||||
| Transactions at premium prices (see Premium prices, above) | |||||||
| Transactions of members, Fund assistance | 103-(52/12) | 143 | |||||
| 316-(54/27) | 143 | ||||||
| 572-(56/55) | 144 | ||||||
| 1033-(60/26) | 144 | ||||||
| 1116-(60/51) | 145 | ||||||
| Gold tranche transactions (see also Use of Fund’s resources): | |||||||
| Buffer stock financing facility | 3386-(71/83) | 51 | |||||
| Charges under stand-by arrangements | 155-(52/57) | 28 | |||||
| *270-(53/95) | 31 | ||||||
| Compensatory financing of export fluctuations | 2836-(69/87) | 51 | |||||
| Members given overwhelming benefit of doubt | 102-(52/11) | 25, 26 | |||||
| Prior to establishment of initial par value | 1687-(64/22) | 56 | |||||
| Procedure for drawings | 2836-(69/87) | 50 | |||||
| Repurchase | 102-52/11) | 25 | |||||
| Service charge, elimination | 2836-(69/87) | 51 | |||||
| H | “Holding” of gold or United States dollars, meaning | 298-3 | 3 | ||||
| Holdings of the Fund (see Currencies; Repurchases) | |||||||
| I | Import restrictions imposed for balance of payments reasons, GATT members | 1034-(60/27) | 101 | ||||
| Income, net, of the Fund, establishment of General Reserve from | 753-58/17) | 118 | |||||
| Ineligibility (see Stand-by arrangements; Use of Fund’s resources; Withdrawal from membership) | |||||||
| International Monetary Fund: | |||||||
| Agreement with United Nations | 157 | ||||||
| UN Convention on Privileges and Immunities, application to Fund | 182 | ||||||
| members which have accepted with respect to Fund | 183 | ||||||
| International monetary system, reform | B/G Res. 26-9 | 149 | |||||
| Establishment of Board of Governors Committee | B/G Res. 27-10 | 151 | |||||
| Interest: | |||||||
| Payment on Fund indebtedness under General Arrangements to Borrow | 1289-(62/1) | 74 | |||||
| Special drawing rights | 3010-(70/25)G/S | 132 | |||||
| International Tin Agreement, Fourth, Fund’s buffer stock financing facility | 3179-(70/102) | 48 | |||||
| 3351-(71/51) | 49 | ||||||
| “Is using,” meaning in Article V, Section 5 | 292-3 | 36 | |||||
| M | Managing Director: | ||||||
| Consultation on currencies and amounts to be used in acquiring special drawing rights | 3010-(70/25)G/S | 132 | |||||
| Consultations with on currencies to be drawn and used in repurchases | 1371-(62/36) | 37, 38 | |||||
| 3049-(70/44) | 64 | ||||||
| Initiation of procedure for calls under General Arrangements to Borrow | 1289-(62/1) | 72 | |||||
| Participation in meetings of Committee on Reform of the International Monetary System and Related Issues | B/G Res. 27-10 | 152 | |||||
| Margins (see also Exchange rates): | |||||||
| Exchange rates for spot exchange transactions in a convertible currency | 904-(59/32) | 11 | |||||
| Maintenance of 1 per cent margin against intervention currency | 3463-(71/126) | 15 | |||||
| “Other exchange transactions” (paper money and coins) | 269-2 | 11 | |||||
| Price of gold | 75-(705) | 8 | |||||
| 233-2 | 7 | ||||||
| Rates differing from parity by more than 1 per cent constitute multiple currency practices | 237-2 | 111 | |||||
| Rates not maintained within margins of Article IV, Section 3 | 3637-(72/41) G/S | 17 | |||||
| Spot exchange transactions | 904-(59/32) | 11 | |||||
| 3463-(71/126) | 12, 15 | ||||||
| Wider, temporary regime | 3463-(71/126) | 12 | |||||
| Monetary reserves of members: | |||||||
| Calculation | 486-2 | 140 | |||||
| 510-2 | 141 | ||||||
| 3049-(70/44) | 65 | ||||||
| Exclusion of special drawing rights | 2901-(69/122)G/S | 128 | |||||
| 3034-(70/38) | 128 | ||||||
| 3032-(70/38) G/S | 129 | ||||||
| 3320-(71/34)G/S | 129 | ||||||
| Data, means to speed collection and reporting | 102-(52/11) | 25 | |||||
| Effect of payment of gold subscriptions | 124-2 | 63 | |||||
| Importance of gold holdings | 75-(705) | 9 | |||||
| Use in repurchases under Article V, Section 7(b) | 447-5 | 63 | |||||
| Monetary stabilization operations, use of Fund’s resources | 71-2 | 20 | |||||
| Money (see Paper money) | |||||||
| Multiple currency practices (see also Exchange rates; Exchange restrictions): | |||||||
| Auction system Fixed rates Fluctuating rates |
237-2 649-(57/33) |
104 111 |
|||||
| Fund approval | 3504-(71/134) | 113 | |||||
| Margin for spot exchange transactions | 904-(59/32) | 11 | |||||
| Rates differing from parity by more than 1 per cent | 237-2 | 111 | |||||
| Temporary regime of central rates and wider margins | 3463-(71/126) | 14 | |||||
| N | Net official holdings of members, principles of interpretation | 298-3 | 2, 122 | ||||
| O | “Official holdings of a member,” meaning | 298-3 | 122 | ||||
| “Other official institutions” and “other banks,” meaning | 298-3 | 123 | |||||
| P | Paper money, dealings deemed “other exchange transactions” within meaning of Article IV, Section 3 | 269-2 | 11 | ||||
| Par values: | |||||||
| Change to correct a fundamental disequilibrium | 71-2 | 16 | |||||
| 278-3 | 17 | ||||||
| Exchange transactions prior to establishment of initial par value | 1687-(64/22) | 56 | |||||
| Extent of change | 278-3 | 17 | |||||
| Fund’s authority | 278-3 | 17 | |||||
| Margins (see Margins) | |||||||
| Payments arrears | 3153-(70/95) | 102 | |||||
| Payments restrictions (see also Exchange restrictions): | |||||||
| For security reasons, Fund jurisdiction | 144-(52/51) | 93 | |||||
| Withdrawal or general abandonment | 117-1 | 119 | |||||
| “Presently needed,” meaning in Article V, Section 3(a) (i) | 284-4 | 21 | |||||
| Prior agreement of Fund (see Repurchases) | |||||||
| Prior notice to Fund, imposition of payments restrictions for security reasons | 144-(52/51) | 93 | |||||
| Purchase transactions (see Use of Fund’s resources) | |||||||
| Q | Quotas: | ||||||
| Adjustment, first interval of five years | 408-2 | 1 | |||||
| Change: | |||||||
| Effect on voting power of elected Executive Director | 180-5 | 117 | |||||
| Payment | 595-3 | 6 | |||||
| Increases granted in accordance with compensatory financing decision | *1477-(63/8) | 43 | |||||
| Relation to drawing rights | 451-(55/52) | 22 | |||||
| Review, first | 408-2 | 1 | |||||
| R | Rates for official communications of Fund | 534-3 | 114 | ||||
| Rates of exchange (see Exchange rates; Multiple currency practices) | |||||||
| Reconstitution of special drawing rights, procedures. | 3457-(71/121)G/S | 127 | |||||
| Refund (see Stand-by arrangements, charges) | |||||||
| Repayment by Fund of borrowed currency | 1289-(62/1) | 75 | |||||
| Representative rates (see Exchange rates) | |||||||
| “Represents,” meaning in Article V, Section 3(a) (i) | 284-4 | 20 | |||||
| Repurchase obligations: | |||||||
| Application at end of financial year in which calculated | 419-1 | 64 | |||||
| Calculation | 486-2 | 140 | |||||
| Calculation, exclusion of proceeds of loans set aside for repayment of loan in a subsequent year | 510-2 | 141 | |||||
| Effect of payment of subscriptions | 124-2 | 63 | |||||
| Exceeding limit specified in Article V, Section 7(c) | 3049-(70/44) | 64 | |||||
| Relation to Rule G-7 | 119-(52/30) | 67 | |||||
| Repayment within period of 3 to 5 years | 102-(52/11) | 24 | |||||
| Use of monetary reserves for repurchases under Article V, Section 7(b) | 447-5 | 63 | |||||
| Repurchases: | |||||||
| Augmentation of stand-by arrangement by equivalent amount | 876-(59/15) | 31 | |||||
| Buffer stock financing | 2772-(69/47) | 48 | |||||
| Currency borrowed by Fund | 1289-(62/1) | 76 | |||||
| Currency composition | 1371-(62/36) | 36 | |||||
| Drawings under compensatory financing decision | *1477-(63/8) | 45 | |||||
| Exclusion of special drawing rights | 2901-(69/122)G/S | 128 | |||||
| 3034-(71/38) | 128 | ||||||
| 3032-(70/38)G/S | 129 | ||||||
| 3320-(71/34)G/S | 129 | ||||||
| Gold collateral transactions | 1543-(63/39) | 52 | |||||
| Of Fund’s holdings | 102-(52/11) | 22 | |||||
| *270-(53/95) | 28 | ||||||
| Prior agreement of Fund needed | 1371-(62/36) | 37 | |||||
| Sale of gold to Fund—Rule G-7 | 119-(52/30) | 67 | |||||
| Use of special drawing rights | 2901-(69/122)G/S | 130 | |||||
| 3188-(70/106)G/S | 130 | ||||||
| Voluntary | 7-(648) | 66 | |||||
| Within 3 to 5 years | 102-(52/11) | 24 | |||||
| Reserve, General, and Reserve, Special, of the Fund (see Accounts, General Account) | |||||||
| Reserve position of members, consideration in currency composition of drawings and repurchases | 1371-(62/36) | 39 | |||||
| Restrictions (see Exchange restrictions; Payments restrictions) | |||||||
| Retention quotas | 201-(53/29) | 96 | |||||
| Rule G-7, sale of gold to Fund in discharge of repurchase obligation | 119-(52/30) | 67 | |||||
| Rule P-2, reconstitution, allocation of SDRs | 3457-(71/121)G/S | 127 | |||||
| S | Schedules B, D, E, G (see Articles of Agreement) | ||||||
| Security, payments restrictions imposed for | 144-(52/51) | 93 | |||||
| “Similar fiscal agency,” meaning | 298-3 | 122 | |||||
| South Africa, sales of gold to Fund, policy | 2914-(69/127) | 57 | |||||
| Special Drawing Account (see Accounts) | |||||||
| Special drawing rights: | |||||||
| Exclusion in calculating monetary reserves | 2901-(69/122)G/S | 128 | |||||
| 3032-(70/38)G/S | 129 | ||||||
| 3034-(70/38) | 128 | ||||||
| 3320-(71/34)G/S | 129 | ||||||
| Obtained in transaction through General Account to pay charges or assessments | 3010-(70/25)G/S | 132 | |||||
| Obtained to promote reconstitution | 3457-(71/121)G/S | 127 | |||||
| Transfer to participants making purchases from Fund | 3414-(71/98)G/S | 131 | |||||
| Use in repurchases and payment of charges | 2901-(69/122)G/S | 130 | |||||
| 3188-(70/106)G/S | 130 | ||||||
| Spot exchange transactions | 904-(59/32) | 11 | |||||
| 3463-(71/126) | 12, 15 | ||||||
| Stabilization of prices of primary products | 2772-(69/47) | 47 | |||||
| Fourth International Tin Agreement: buffer stock financing | 3179-(70/102) | 48 | |||||
| 3351-(71/51) | 49 | ||||||
| Stand-by arrangements: | |||||||
| Amounts | 155-(52/57) | 27 | |||||
| *270-(53/95) | 28 | ||||||
| 876-(59/15) | 31 | ||||||
| Augmentation by amounts of repurchases | 876-(59/15) | 31 | |||||
| Cancellation, repayment of portion of charge | *270-(53/95) | 30 | |||||
| Charges | 155-(52/57) | 27 | |||||
| *270-(53/95) | 29 | ||||||
| Refund | *1345-(62/23) | 34 | |||||
| Consultation, phasing and performance clauses. | 2603-(68/132) | 32 | |||||
| Currency borrowed by the Fund | 1289-(62/1) | 72 | |||||
| Currency composition of drawings | 1371-(62/36) | 37 | |||||
| Gold tranche drawings | 155-(52/57) | 27 | |||||
| *270-(53/95) | 31 | ||||||
| 2836-(69/87) | 51 | ||||||
| Ineligibility | 155-(52/57) | 27 | |||||
| *270-(53/95) | 28 | ||||||
| Payments arrears, performance criteria | 3153-(70/95) | 103 | |||||
| Period | 155-(52/57) | 26 | |||||
| *270-(53/95) | 28 | ||||||
| Phasing and performance clauses | 2603-(68/132) | 33 | |||||
| Policies and procedures | 155-(52/57) | 26 | |||||
| *270-(53/95) | 28 | ||||||
| 2603-(68/132) | 32 | ||||||
| Procedures for purchases under | 3006-(70/24) | 34 | |||||
| Renewal | 155-(52/57) | 26 | |||||
| *270-(53/95) | 28 | ||||||
| Suspension of rights to engage in drawings | 155-(52/57) | 27 | |||||
| *270-(53/95) | 29 | ||||||
| Subscriptions (see also Net official holdings of members): | |||||||
| Currency, payment on basis of provisional exchange rate for exchange transaction prior to establishment of initial par value | 1687-(64/22) | 56 | |||||
| Gold: | |||||||
| Calculation | 298-3 | 3, 124 | |||||
| Effect of payment on repurchase obligations | 124-2 | 63 | |||||
| Payments for quota increases | 595-3 | 6 | |||||
| Gold and currency, ownership by Fund | 170-3 | 2 | |||||
| Switzerland: | |||||||
| Association with General Arrangements to Borrow | 1712-(64/29) | 84 | |||||
| 2377-(67/85) | 87 | ||||||
| 3363-(71/60) | 89 | ||||||
| Party to gold transactions with Fund members | 316-(54/27) | 143 | |||||
| T | Technical assistance, Fund ready to meet requests in preparation of economic programs and measures for exchange simplification | 649-(57/33) | 112 | ||||
| Tin Agreement, Fourth International (see Buffer stocks) | 26 | ||||||
| Tranche policies (see also Gold tranche) | * 1477-(63/8) | 46 | |||||
| Transfers, restrictions on (see Exchange restrictions; Payments restrictions) | |||||||
| Transitional provisions of Article XIV | 1034-(60/27) | 100 | |||||
| 237-2 | 106, 109 | ||||||
| 117-1 | 119 | ||||||
| U | Unenforceability (see Exchange contracts) | ||||||
| United Nations: | |||||||
| Agreement with International Monetary Fund | 157 | ||||||
| Convention on the Privileges and Immunities of the Specialized Agencies | 164 | ||||||
| U.S. dollars, determination of net official holdings of members | 298-3 | 2, 122 | |||||
| “United States dollars,” holdings of, interpretation | 298-3 | 3 | |||||
| United States, purchase or sale of gold within meaning of Article IV, Section 4(b) | 411-1 | 17 | |||||
| Use of Fund’s resources (see also Borrowing by the Fund; Charges; Stand-by arrangements): | |||||||
| Application of same policy to stand-by arrangements as to requests for immediate drawings | 155-(52/57) | 26 | |||||
| *270-(53/95) | 29 | ||||||
| Authority to use resources of Fund | 71-2 | 20 | |||||
| Balance of payments deficit on current account | 71-2 | 20 | |||||
| Buffer stock facility as applied to Fourth International Tin Agreement | 3179-(70/102) | 48 | |||||
| 3351-(71/51) | 49 | ||||||
| Buffer stock financing | 2772-(69/47) | 47 | |||||
| Capital transfers | 1238-(61/43) | 20 | |||||
| Conditions in Article V, Section 3(a) (i) | 284-4 | 20 | |||||
| “Consistent with the provisions of this Agreement” in Article V, Section 3, meaning | 287-3 | 21 | |||||
| Currency borrowed by the Fund | 1289-(62/1) | 73 | |||||
| Currency composition of drawings | 1371-(62/36) | 36 | |||||
| Drawing policies in connection with compensatory financing of export fluctuations | *1477-(63/8) | 43 | |||||
| Drawing rights, meaning of 25 per cent of quota | 451-(55/52) | 21 | |||||
| Exchange transactions prior to establishment of initial par value | 1687-(64/22) | 56 | |||||
| Gold collateral transactions | 1543-(63/39) | 52 | |||||
| “Gold tranche” drawings | 102-(52/11) | 25 | |||||
| 155-02/57) | 27 | ||||||
| *27O-03/95) | 31 | ||||||
| 1687-(64/22) | 56 | ||||||
| 2836-(69/87) | 50 | ||||||
| 3386-(71/83) | 51 | ||||||
| In accordance with purposes of Fund | 102-(52/11) | 22, 25 | |||||
| Ineligibility: | |||||||
| Effect on purchases under stand-by arrangement | 155-(52/57) | 27 | |||||
| *270-(53/95) | 28 | ||||||
| Under Article V, Section 5 | 284-3 | 35 | |||||
| Under Article XV, Section 2(a) | 343-(54/47) | 120 | |||||
| “Is using” in Article V, Section 5, meaning | 292-3 | 36 | |||||
| Limitation under Article V, Section 5 | 284-3 | 35 | |||||
| 286-1 | 35 | ||||||
| Monetary stabilization | 71-2 | 20 | |||||
| Period of use | 102-(52/11) | 24 | |||||
| 155-02/57) | 27 | ||||||
| *270-(53/95) | 28 | ||||||
| Policy | 102-(52/11) | 22 | |||||
| 155-02/57) | 26 | ||||||
| *270-(53/95) | 29 | ||||||
| 649-07/33) | 112 | ||||||
| Postponement: | |||||||
| Limitation under Article V, Section 5 | 286-1 | 35 | |||||
| Under Article XX, Section 4(i) | 284-2 | 126 | |||||
| “Presently needed” in Article V, Section 3(a)(i), meaning | 284-4 | 21 | |||||
| Prior to establishment of initial par value | 1687-(64/22) | 56 | |||||
| Purchases under stand-by arrangements, procedure | 3006-(70/24) | 34 | |||||
| “Represents” in Article V, Section 3(a) (i), meaning | 284-4 | 20 | |||||
| Requests from members proposing appropriate and adequate exchange simplification and related economic programs to be given sympathetic consideration | 649-(57/33) | 112 | |||||
| Resumption of purchases under a stand-by arrangement after decision of formal ineligibility or to consider such a proposal | *270-(53/95) | 29 | |||||
| Suspension of exchange transaction, effect on borrowing arrangements | 1289-(62/1) | 79 | |||||
| Suspension of transactions under stand-by arrangements | 155-(52/57) | 27 | |||||
| *270-(53/95) | 29 | ||||||
| Temporary assistance in financing balance of payments deficits | 71-2 | 20 | |||||
| Tranche policies | 26 | ||||||
| *1477-(63/8) | 46 | ||||||
| Transfer of SDRs in General Account to participants | 3414-(71/98)G/S | 131 | |||||
| Waiver of 200 per cent of quota limit | *1477-(63/8) | 46 | |||||
| 2772-(69/47) | 48 | ||||||
| V | Voting power, elected Executive Directors, effect of change in quota | 180-5 | 117 | ||||
| W | Withdrawal from membership | 343-(54/47) | 120 | ||||
| Effect on participant in borrowing arrangement | 1289-(62/1) | 79 | |||||
| “Working balances,” meaning | 298-3 | 123 | |||||