Back Matter

Back Matter

Author(s):
International Monetary Fund. Secretary's Department
Published Date:
November 1976
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Index: Proposed Second Amendment to the Articles of Agreement

Index

to Proposed Second Amendment

Accounts (see also General Resources Account; Investment Account; Special Disbursement Account):

  • Audited statements, annual, Art. XII, Sec. 7(a)

  • Names of, Introd. Art.

  • Settlement with withdrawing members, Art. XXVI, Sec. 3; Sched. J

Adjustment process, Art. IV, Sec. 4; Art. XVIII, Sec. 1(b); Sched. D, par. 2(a)

Agencies of members dealing with Fund, Art. V, Sec. 1

Alternates; see Board of Governors; Councillors; Executive Directors

Amendments:

  • Acceptance by all members in certain cases, Art. XXVIII(b)

  • Arrangements with other international organizations which necessitate amendments, Art. X

  • Consideration of proposals by Council, Sched. D, par. 2(b)

  • Entry into force, Art. XXVIII(a)

  • Proposal, Art. XXVIII(a)

  • Rules and regulations, rates, procedures and decisions in effect at date of second amendment to remain until changed, Sched. B, par. 6

  • Voting power required for acceptance, Art. XXVIII(a), (b)

Annual Report; see Reports

Arbitration :

  • Disagreement arising during liquidation of Fund or upon withdrawal of member, Art. XXIX(c)

  • Disagreement arising from termination of participation in Special Drawing Rights Department or during liquidation of that Department, Art. XXI(d)

Archives of Fund, immunity, Art. IX, Sec. 5

Articles of Agreement (see also Amendments; Interpretation of the Agreement) :

  • Acceptance, Art. IV, Sec. 5(a); Art. XXXI, Sec. 2(a), (b), (g)

  • Advice to all members by Government of United States of signatures to Agreement and deposit of instruments of acceptance, Art. XXXI, Sec. 2(c)

  • Entry into force, Art. XXXI, Sec. 1

  • Instruments of acceptance to be deposited with Government of the United States, Art. XXXI, Sec. 1, 2(a)

  • Signature, Art. XXXI, Sec. 2

Assessments for expenses of conducting business of Special Drawing Rights Department:

  • Levy by Fund, Art. XX, Sec. 4

  • Payment in special drawing rights, Art. XVI, Sec. 2

  • Settlement on termination of participation in Special Drawing Rights Department, Art. XXIV, Sec. 2

Assets of Fund (see also Investment of Fund’s assets; Reserves of Fund):

  • Certain proceeds from sale of gold for benefit of developing countries to be held separately from general resources of Fund, Sched. B, par. 7

  • Distribution in event of liquidation of Fund, Sched. K

  • Freedom from restrictions, Art. IX, Sec. 6

  • Guarantee by each member, Art. XIII, Sec. 3

  • Holdings in depositories, Art. XIII, Sec. 2

  • Immunity, Art. IX, Sec. 3, 4, 6, 9(a)

  • Maintenance of value, Art. V, Sec. 11

  • Separation of assets held in General Department and Special Drawing Rights Department, Art. XVI, Sec. 2

  • Separation of assets of Investment Account from other accounts of General Department, Art. XII, Sec. 6(f)(i)

  • Separation of assets in Special Disbursement Account from other accounts in General Department, Art. V, Sec. 12(f)

  • Value expressed in special drawing rights, Art. V, Sec. 10

Associates of the Council, Sched. D, par. 1(a), (b), 5(d)

Audit; see Accounts

Balance of payments:

  • Adjustment, action by members to achieve, Art. IV, Sec. 4

  • Adjustment, supervision by Council, Sched. D, par. 2(a)

  • Criterion for designation of participant to provide currency for special drawing rights, Art. XIX, Sec. 5(a)(i)

  • Furnishing of information concerning, Art. VIII, Sec. 5(a)(vi)

  • Improvement, repurchase obligation, Art. V, Sec. 7(b)

  • Publication of report to member on conditions tending to produce serious disequilibrium in international balance of payments, Art. XII, Sec. 8

  • Purpose of Fund to correct maladjustments and lessen disequilibrium, Art. I(v), (vi)

  • Requirement of need for purchase of currencies of members, Art. V, Sec. 3(b)(ii)

  • Requirement of need for use of special drawing rights, Art. XIX, Sec. 3(a)

  • Special policies for special balance of payments problems, Art. V, Sec. 3(a)

  • Taken into account in first decision to allocate special drawing rights, Art. XVIII, Sec. 1(b)

  • Taken into account in selection of currencies to be sold, Art. V, Sec. 3(d)

  • Withdrawal of exchange restrictions by members when balance of payments is satisfactory, Art. XIV, Sec. 2

Basic periods for allocation and cancellation of special drawing rights; see Special drawing rights

Board of Governors:

  • Adoption of regulations for member not entitled to appoint Executive Director to send representative to attend Executive Board meeting, Art. XII, Sec. 3(j)

  • Allocation and cancellation of special drawing rights, decisions on, Art. XVIII, Sec. 4(a), (c), (d)

  • Alternate Governors, appointment by members, Art. XII, Sec. 2(a)

  • Appointment by members, Art. XII, Sec. 2(a)

  • Approval of amendments to Articles of Agreement, Art. XXVIII(a), (b)

  • Authority to increase or decrease number of Executive Directors to be elected, Art. XII, Sec. 3(b)

  • Chairman, selection, Art. XII, Sec. 2(a)

  • Committee on Interpretation, Art. XXI(c); Art. XXIX(b)

  • Committees, Art. XII, Sec. 2(j)

  • Compulsory withdrawal of members by decision of, Art. XXVI, Sec. 2(b)

  • Consistency of Council’s or Executive Board’s actions with Board of Governors’ actions, Sched. D, par. 3(c)

  • Decision not to have number of elected directors reduced when Art. XII, Sec. 3(c) applies, Art. XII, Sec. 3(b)

  • Decision to establish Council, Art. XII, Sec. 1

  • Decisions on matters pertaining exclusively to Special Drawing Rights Department, Art. XXI(a)(i)

  • Delegation of authority to Executive Board, Art. XII, Sec. 2(b)

  • Delegation of authority to Council, Sched. D, par. 3(a)

  • Determination of quotas of members, Art. III, Sec. 1

  • Determination of remuneration paid to Executive Directors and their Alternates, Art. XII, Sec. 2(i)

  • Determination of salary and terms of service contract of Managing Director, Art. XII, Sec. 2(i)

  • Election of Executive Directors, Art. XII, Sec. 3(b), (d); Sched. E

  • Expenses incurred in attending meetings, Art. XII, Sec. 2(h)

  • General review of quotas and adjustments of quotas, Art. III, Sec. 2(a)

  • Immunities, Art. IX, Sec. 8

  • Initial subscription payments transmitted to, Art. XXXI, Sec. 2(d)

  • Interpretation of Fund Agreement, Art. XXIX(b)

  • Interpretation pertaining exclusively to Special Drawing Rights Department, Art. XXI(c)

  • Liquidation of Fund, decision, Art. XXV(a); Art XXVII, Sec. 2(a), (b)

  • Liquidation of Special Drawing Rights Department, decision, Art. XXV(a), (b)

  • Meetings, Art. XII, Sec. 2(c); Art. XXI(a)(i)

  • Number of votes of each Governor, Art. XII, Sec. 2(e)

  • Powers, Art. XII, Sec. 2(a), (b); Sched. D, par. 6

  • Prescription for payment of 25 per cent of increase in quota in currencies rather than special drawing rights, Art. III, Sec. 3(a)

  • Prescription of times and terms for membership and subscription, Art. II, Sec. 2

  • Provision for in Fund structure, Art. XII, Sec. 1

  • Quorum for meetings, Art. XII, Sec. 2(d); Art. XXI(a)(i)

  • Rules and regulations, adoption, Art. XII, Sec. 2(g)

  • Service pending new appointment, Art. XII, Sec. 2(a)

  • Service without compensation, Art. XII, Sec. 2(h)

  • Temporary suspension of certain provisions, extension, Art. XXVII, Sec. 1(b)

  • Vote without meeting, Art. XII, Sec. 2(f); Sched. D, par. 5(a)

Borrowing of currency by Fund to replenish holdings, Art. VII, Sec. 1

Buffer stocks, international, of primary products, financing of contributions to, Art. XXX(c)(ii)

Capital transactions:

  • Determination by Fund whether transactions to be considered current or capital transactions, Art. XXX(d)

  • Furnishing of information concerning, Art. VIII, Sec. 5(a)(vi)

  • Payments for, definition, Art. XXX(d)

  • Use of Fund’s general resources for, Art. VI, Sec. 1(b)(i)

Capital transfers :

  • Controls, Art. VI, Sec. 1, 3

  • Reserve tranche purchases for, Art. VI, Sec. 2; Art. XXVII, Sec. 1(a)(ii)

  • Use of Fund’s general resources for, Art. VI, Sec. 1, 2; Art. XXVI, Sec. 2(a)

  • Use of member’s own resources for, to be in accordance with purposes of Fund, Art. VI, Sec. 1(b)(ii)

Central banks:

  • Agency dealing with Fund, Art.V, Sec. 1

  • Designation as depository for Fund’s holdings of currency, Art. XIII, Sec. 2

  • Institutions that perform such functions for more than one member, eligibility for prescription as holders of special drawing rights, Art. XVII, Sec. 3(i)

Charges :

  • Accruing after date of member’s withdrawal, Sched. J, par. 1

  • Failure of member to make required repurchase, Art. V, Sec. 8(c)

  • Levy by Fund, Art. V, Sec. 8(a), (b); Art. XXVII, Sec. 1(a)(i)

  • Levy on average daily balances held in General Resources Account of Fund, Art. V, Sec. 8(b)

  • Net cumulative allocation of special drawing rights, Art. XX, Sec. 2, 3, 5; Sched. I, par. 5

  • Outstanding obligation held by terminating participant, Art. XXIV, Sec. 2(a), 3

  • Payable during liquidation of Special Drawing Rights Department, Art. XXV(c); Sched. I, par. 5

  • Payment in special drawing rights, and in exceptional circumstances in specified members’ currencies or in member’s own currency, Art. V, Sec. 8(e); Art. XX, Sec. 5; Art. XXVII, Sec. 1(a)

  • Rate to be equal to rate of interest in Special Drawing Rights Department, Art. XX, Sec. 3

  • Rates, relationship to rate of remuneration, Art. V, Sec. 9(a)

  • Rates, majority required for determination, Art. V, Sec. 8(d)

  • Rise at intervals during period currency balances are held, Art. V, Sec. 8(b)

  • Service, on purchase of special drawing rights or currency of another member, Art. V, Sec. 8(a)(i)

  • Service, on reserve tranche purchases, Art. V, Sec. 8(a)(i)

  • Stand-by or similar arrangements, Art. V, Sec. 8(a)(ii)

Clearing arrangements, furnishing of information. Art. VIII, Sec. 5(a)(xii)

Collateral security, pledge, Art. V, Sec. 4

Colonies ; see Territories

Committee on Interpretation; see Board of Governors

Committees :

  • Appointment by Board of Governors, Council, and Executive Board, Art. XII, Sec. 2(j); Sched. D, par. 5(a)

  • Immunities of members, Art. IX, Sec. 8

Common denominator, special drawing right or other but not gold or a currency, Sched. C, par. 1

Communications, official, privilege for, Art. IX, Sec. 7

Compensatory financing of export fluctuations, Art. XXX(c)(i)

Compulsory withdrawal from membership, Art. XIV, Sec. 3; Art. XXVI, Sec. 2; Sched. C, par. 7, 8

Consultations:

  • Annual, with members retaining certain exchange restrictions, Art. XIV, Sec. 3

  • Between members regarding existing international agreements, Art. VIII, Sec. 6

  • By Managing Director to ascertain if there is broad support for proposal on allocation or cancellation of special drawing rights, Art. XVIII, Sec. 4(b)

  • Charges on delinquent repurchases, Art. V, Sec. 8(c)

  • Currencies to be sold, selection, Art. V, Sec. 3(d)

  • Current or capital transactions, determination, Art. XXX(d)

  • Exchange rates of participant’s currency, Art. XIX, Sec. 7(c)

  • Fund sale of gold for member’s currency, Art. V, Sec. 12(c); Sched. B, par. 7(b)

  • Member without par value, Sched. C, par. 3, 9

  • Members’ exchange rate policies, Art. IV, Sec. 3(b)

  • Par value ceasing to exist, Sched. C, par. 8

  • Repurchase obligation, Art. V, Sec. 7(b)

  • Sale of currency not repurchased, Art. V, Sec. 7(h)

Convertibility, foreign-held balances, Art. VIII, Sec. 4 (see also Freely usable currency)

Cooperative arrangements for maintenance of value of currencies, Art. IV, Sec. 2(b), 3(b)

Council:

  • Adoption of regulations and determination of procedures, Sched. D, par. 4

  • Authority to adopt rules and regulations to conduct business of Fund, Art. XII, Sec. 2(g); Sched. D, par. 5(a)

  • Authority to appoint committees, Art. XII, Sec. 2(j); Sched. D, par. 5(a)

  • Authority to call Board of Governors meeting, Art. XII, Sec. 2(c); Sched. D, par. 5(a)

  • Authority to obtain vote of Governors without meeting, Art. XII, Sec. 2(f); Sched. D, par. 5(a)

  • Chairman, selection, Sched. D, par. 4

  • Composition, Sched. D, par. 1(a)

  • Concurrence in proposals of Managing Director on allocations and cancellations of special drawing rights, Art. XVIII, Sec. 4(a); Sched. D, par. 5(a)

  • Consistency of action with action of Board of Governors, Sched. D, par. 3(c)

  • Decisions on matters relating to Special Drawing Rights Department, Sched. D, par. 5(b)

  • Establishment by decision of Board of Governors, Art. XII, Sec. 1 ; Sched. D

  • Immunities and privileges, Sched. D, par. 5(d)

  • Meetings, Sched. D, par. 4

  • Powers, Art. XII, Sec. 2(a), (c), (f), (g), (j); Art. XVIII, Sec. 4(a), (c)(iv); Art. XXIII, Sec. 1; Art. XXVII, Sec. 1(a); Sched. D, par. 5(a), 6

  • Request for proposal by Managing Director for allocation or cancellation of special drawing rights, Art. XVIII, Sec. 4(c)(iv); Sched. D, par. 5(a)

  • Temporary suspension of certain provisions of Agreement, Art. XXVII, Sec. 1(a); Sched. D, par. 5(a)

  • Temporary suspension of provisions relating to operations and transactions in special drawing rights, Art. XXIII, Sec. 1; Sched. D, par. 5(a)

Councillors:

  • Appointment and attendance at meeting of Council, Sched. D, par. 1(a), (b)

  • Alternates, Sched. D, par. 1(b)

  • Casting of votes, Sched. D, par. 3(b), 5(b), (e)

  • Immunities and privileges, Sched. D, par. 5(d)

Currencies (see also Freely usable currency; Holdings; Maintenance of value … ; Scarce currencies):

  • Acceptable to Fund, use to obtain special drawing rights, Art. XX, Sec. 5; Sched. G, par. 1(a)(iv)

  • Acquisition of currency of member that has withdrawn, Sched. J, par. 5

  • Acquisition of own currency with special drawing rights by terminating participants, Sched. H, par. 1

  • Adjustment of Fund’s holdings, Art. V, Sec. 11(b)

  • Borrowing by Fund, Art. VII, Sec. 1(i)

  • Computations, Art. V, Sec. 10

  • Designation of participants to provide for specified amount of special drawing rights, Art. XIX, Sec. 5; Sched. F

  • Discharge of obligations to Fund by participants in event of liquidation of Special Drawing Rights Department, Sched. I, par. 1

  • Discharge of repurchase obligation or subscription payable in gold by non-participants, Sched. B

  • Exchange for freely usable currency, Art. V, Sec. 3(e), 7(j)

  • Exchange rates, transactions in special drawing rights, Art. V, Sec. 10(b), 11(a); Art. XIX, Sec. 7

  • Fund’s holdings, Art. III, Sec. 3; Art. V, Sec. 6(b), 7(i), 8(e); Art. XIII, Sec. 2(a); Art. XXX(a), (c); Sched. B, par. 4

  • Investment Account holdings, use to meet expenses of conducting business of Fund, Art. XII, Sec. 6(f)(iv), (v)

  • Investment in obligations denominated in currency used, Art. XII, Sec. 6(f)(iii)

  • Maintenance of a value by members in terms of special drawing right or another denominator other than gold, Art. IV, Sec. 2(b)

  • Maintenance of value by Fund, Art. V, Sec. 11

  • Maintenance of value by members, cooperative arrangements by members, Art. IV, Sec. 3(b)

  • Obligation of participant to provide, Art. XIX, Sec. 4

  • Payment by Fund to member consenting to quota reduction, Art. III, Sec. 3(c)

  • Payment of charges, Art. V, Sec. 8(e)

  • Payment of distribution of net income or part of general reserve in member’s own currency, Art. XII, Sec. 6(e)

  • Payment of quota increase, Art. III, Sec. 3(a)

  • Payment of remuneration in member’s own currency, Art. V, Sec. 9(d)

  • Payment to withdrawing member, Sched. J

  • Purchase from Fund for special drawing rights, Art. V, Sec. 6

  • Purchase of currency held by another member, Art. VIII, Sec. 4

  • Redemption of holdings apportioned to other members in liquidation of Fund, Sched. K, par. 3-8

  • Replenishment of Fund’s holdings, Art. VII, Sec. 1

  • Repurchase by member of currency held by Fund, Art. V, Sec. 7; Sched. B, par. 1-5

  • Scarcity, Art. VII, Sec. 2, 3

  • Selection by Fund to be provided or accepted for transactions in special drawing rights, Art. V, Sec. 6(c)

  • Selection for repurchase, Art. V, Sec. 7(i)

  • Selection for sale, policies and procedure, Art. V, Sec. 3(d)

  • Separate currencies within member’s territories, Art. IV, Sec. 5

  • Settlement with terminating participant, Art. XXIV, Sec. 4-6

  • Specified by Fund, discharge of obligation by non-participant payable in special drawing rights, Sched. B, par. 2

  • Specified by Fund, use in repurchases, Art. V, Sec. 7(i), (j)

  • Substitution of securities, Art. III, Sec. 4; Art. XXX(a)

Current transactions :

  • Convertibility of foreign-held balances acquired as result of or needed for making payments for, Art. VIII, Sec. 4

  • Determination by Fund whether transactions to be considered current or capital transactions, Art. XXX(d)

  • Multilateral system of payments, Art. I(iv)

  • Payments for, definition, Art. XXX(d)

  • Restrictions on payments and transfers, Art. VI, Sec. 3; Art. VII, Sec. 3(b), (c); Art. VIII, Sec. 2; Art. XIV, Sec. 2

Customs duties, Fund’s immunity from, Art. IX, Sec. 9(a)

Data; see Information

Definition of terms :

  • Freely usable currency, Art. XXX(f) Members on August 31, 1975, Art. XXX(g)

  • Net cumulative allocation of special drawing rights, Art. XXX(e)

  • Operations in special drawing rights, Art. XXX(i)

  • Operations of Fund, Art. XXX(h)

  • Payments for current transactions, Art. XXX(d)

  • Reserve tranche purchase, Art. XXX(c)

  • Stand-by arrangement, Art. XXX(b)

  • Transactions in special drawing rights, Art. XXX(i)

  • Transactions of Fund, Art. XXX(h)

Departments and Accounts, Introd. Art.

Depositary for instruments of acceptance of the Agreement, Art. XXXI, Sec. 2

Depositories:

  • Currency, designation by each member, Art. XIII, Sec. 2(a)

  • Gold, to be held in designated depositories, Art. XIII, Sec. 2(b)

  • Guarantee of Fund assets against loss from failure or default, Art. XIII, Sec. 3

  • Subscription payments to appropriate depository, Art. III, Sec. 1

Developing members:

  • Balance of payments assistance on special terms from assets in Special Disbursement Account, Art. V, Sec. 12(f)(ii)

  • Distribution of part of assets from sale of gold in Special Disbursement Account, Art. V, Sec. 12(f)(iii); Sched. B, par. 7(b)

  • Transfer of real resources, review of developments by Council, Sched. D, par. 2(a)

Disagreements:

  • Arising between Fund and terminating participant or any participant during liquidation of Special Drawing Rights Department, Art. XXI(d)

  • Arising between Fund and withdrawn member or any member during liquidation of Fund, Art. XXVII, Sec. 2(b); Art. XXIX(c)

Discriminatory currency arrangements, avoidance, Art. VIII, Sec. 3

Disequilibrium (see also Balance of payments):

  • Fundamental, change in par value to correct or prevent, Sched. C, par. 6, 7

  • Purpose of Fund to lessen in international balances of payments of members, Art. I(vi)

  • Report to members regarding conditions tending to produce serious disequilibrium in balance of payments, Art. XII, Sec. 8

Economic growth, orderly, obligation of members to foster, Art. IV, Sec. 1

Election; see Executive Directors

Emergency provisions:

  • Liquidation of the Fund, Art. XXVII, Sec. 2

  • Temporary suspension of operation of certain provisions of the Agreement, Art. XXVII, Sec. 1; Sched. D, par. 5(a)

  • Temporary suspension of provisions relating to special drawing rights, Art. XXIII, Sec. 1; Art. XXV(a); Sched. D, par. 5(a)

Employment, promotion and maintenance of high levels, Art. I(ii)

Entry into force of the Agreement, Art. XXXI, Sec. 1

Establishment of International Monetary Fund, Introd. Art. (i)

Exceptional circumstances:

  • Authority for participants to agree on other exchange rates for transactions, Art. XIX, Sec. 7(b)

  • Fund representations to member on withdrawal of restrictions, Art. XIV, Sec. 3

  • Payment of charges in currencies of other members specified by Fund or in member’s own currency, Art. V, Sec. 8(e); Art. XXVII, Sec. 1(a)(i)

  • Reduction of quota, payment, Art. III, Sec. 3(c)

Exchange arrangements:

  • Changes, notification of Fund by member, Art. IV, Sec. 2(a)

  • Consistency with purposes of Fund, Sched. C, par. 3

  • Consultation with Fund by member not intending to establish par value or whose par value has ceased to exist, Sched. C, par. 3, 9

  • General, Fund may make provision for, Art. IV, Sec. 2(c)

  • Kind prevailing on January 1, 1976, Art. IV, Sec. 2(b)

  • Notification by member of arrangements to be applied and of changes, Art. IV, Sec. 2(a)

  • Obligations of members, Art. IV; Sched. C, par. 3, 9

  • Orderly, maintenance among members, Art. I(iii)

  • Separate currencies within a member’s territories, Art. IV, Sec. 5

  • Surveillance, Art. IV, Sec. 3

Exchange contracts, unenforceability, Art. VIII, Sec. 2(b)

Exchange controls (see also Exchange restrictions):

  • Capital transfers, Art. VI, Sec. 1(a), 3

  • Cooperation between members to make regulations more effective, Art. VIII, Sec. 2(b)

  • Furnishing of information, Art. VIII, Sec. 5(a)(xi)

Exchange depreciation, competitive, avoidance, Art. I(iii)

Exchange margins, spot exchange transactions of members having par values, Art. XXVII, Sec. 1(a)(iv); Sched. C, par. 5

Exchange rates (see also Exchange arrangements; Par values):

  • Avoidance of manipulating, Art. IV, Sec. 1(iii)

  • Buying and selling rates for foreign currencies, furnishing of information concerning, Art. VIII, Sec. 5(a)(x)

  • Computations for applying provisions of the Agreement, Art. V, Sec. 10

  • Policies, consultations with members, Art. IV, Sec. 3(b)

  • Policies, principles for guidance, Art. IV, Sec. 3(b)

  • Promotion of stable system, Art. IV, Sec. 1; Art. XIV, Sec. 2

  • Termination of par value, Sched. C, par. 8

  • Transactions in special drawing rights, Art. XIX, Sec. 7

  • Value of currencies held in General Resources Account, Art. V, Sec. 11(a)

Exchange restrictions:

  • Adaptation to changing circumstances, Art. XIV, Sec. 2

  • Administration with respect to scarce currency, Art. VII, Sec. 4

  • Approval by Fund, Art. VIII, Sec. 2(a)

  • Avoidance on current payments, Art. VIII, Sec. 2

  • Consultations between members to make adjustment for application of authorized restrictions, Art. VIII, Sec. 6

  • Consultations with Fund as to further retention, Art. XIV, Sec. 3

  • Cooperation between members in making exchange control regulations more effective, Art. VIII, Sec. 2(b)

  • Effect of other international agreements on, Art. VII, Sec. 5

  • Elimination of foreign exchange restrictions which hamper growth of world trade, Art. I(iv)

  • Maintenance, Art. XIV, Sec. 1

  • Member persisting in maintaining restrictions inconsistent with Fund’s purposes, Art. XIV, Sec. 3; Art. XXVI, Sec. 2

  • Obligation to withdraw, Art. XIV, Sec. 2

  • On transactions with non-member countries, Art. XI, Sec. 2

  • Report, annual, Art. XIV, Sec. 3

  • Representation as to withdrawal, Art. XIV, Sec. 3

  • Retention, Art. XIV, Sec. 3

  • Scarce currency, formal declaration authorizing temporary exchange restrictions, Art. VII, Sec. 3(b)

  • Transitional arrangements, Art. XIV

Exchange stability:

  • Promotion of stable system of exchange rates, Art. IV, Sec. 1; Art. XIV, Sec. 2

  • Purpose of Fund to promote, Art. I(iii)

Exchange transactions; see Operations and transactions

Executive Board:

  • Authority to call meetings of Board of Governors, Art. XII, Sec. 2(c)

  • Authority to call meetings of Council, Sched. D, par. 4

  • Committees, Art. XII, Sec. 2(j); Art. IX, Sec. 8

  • Concurrence in proposals for allocation and cancellation of special drawing rights, Art. XVIII, Sec. 4(a), (d)

  • Decisions on matters pertaining exclusively to Special Drawing Rights Department, Art. XXI(a)(ii)

  • Delegation of powers by Board of Governors, Art. XII, Sec. 2(b), 3(a)

  • Function in continuous session, Art. XII, Sec. 3(g)

  • Interpretation of the Agreement, decision, Art. XXI(c); Art. XXIX(a)

  • Managing Director, selection of, Art. XII, Sec. 4(a)

  • Managing Director to be Chairman, Art. XII, Sec. 4(a)

  • Meetings, Art. XII, Sec. 3(g)

  • No inconsistency of actions with those of Board of Governors or Council, Sched. D, par. 3(c)

  • Powers corresponding to those of Council, Sched. D, par. 5(a)

  • Provision for, Art. XII, Sec. 1

  • Quorum for meetings, Art. XII, Sec. 3(h); Art. XXI(a)(ii)

  • Remuneration, determination by Board of Governors, Art. XII, Sec. 2(i)

  • Representation of member not entitled to appoint an Executive Director, Art. XII, Sec. 3(j)

  • Request for allocation or cancellation of special drawing rights, Art. XVIII, Sec. 4(c)(iv)

  • Responsibility for conducting business of Fund, Art. XII, Sec. 3(a)

  • Rules and regulations, adoption, Art. XII, Sec. 2(g)

  • Temporary suspension of allocations or cancellations of special drawing rights, Art. XXV(a)

  • Temporary suspension of certain provisions of the Agreement, Art. XXVII, Sec. 1(a), (c)

  • Temporary suspension of operations and transactions in special drawing rights, Art. XXIII, Sec. 1; Art. XXV(a)

  • Temporary suspension of transactions in an emergency, Art. XXVI I, Sec. 2(a)

Executive Directors:

  • Additional appointed, Art. XII, Sec. 3(c)

  • Advisors, immunities and privileges, Art. IX, Sec. 8

  • Alternate, appointment and powers, Art. XII, Sec. 3(e)

  • Alternate, authority to exercise powers of former Executive Director while office is vacant, Art. XII, Sec. 3(f)

  • Alternate, determination of remuneration by Board of Governors, Art. XII, Sec. 2(i)

  • Alternate, entitlement to attend meetings of Council, Sched. D, par. 1(b)

  • Alternate, immunities and privileges, Art. IX, Sec. 8

  • Appointed, Art. XII, Sec. 3(b)(i), 3(c), 3(i)

  • Attendance at Council meetings, Sched. D, par. 1(b)

  • Election, Art. XII, Sec. 3(b)(ii), (d); Sched. E

  • Elective, Art. XII, Sec. 3(b)(ii)

  • Immunities and privileges, Art. IX, Sec. 8

  • Immunity from tax on salaries, Art. IX, Sec. 9(b)

  • Increase or decrease in number to be elected, Art. XII, Sec. 3(b)

  • Number, Art. XII, Sec. 3(b), (c)

  • Remuneration, determination by Board of Governors, Art. XII, Sec. 2(i)

  • Vacancy in office of elected Executive Director, Art. XII, Sec. 3(f)

  • Votes, number for each Executive Director, Art. XII, Sec. 3(i), 5

Explanation of terms, Art. XXX (see also Definition of terms)

Financial and technical services, performance by Fund, Art. V, Sec. 2(b)

Fiscal agencies:

  • Dealing with Fund, Art. V, Sec. 1

  • Not to engage in discriminatory currency arrangements or multiple currency practices, Art. VIII, Sec. 3

  • Undertakings with respect to transactions with non-member, Art. XI, Sec. 1(i); Art. XXVII, Sec. 1(a)(iii)

  • Foreign exchange, data members may be required to furnish, Art. VIII, Sec. 5(a)(i), (ii)

Freely usable currency:

  • Conversion into by member whose currency has been purchased from Fund, Art. V, Sec. 3(e)

  • Definition, Art. XXX(f)

  • Exchange for currency specified for repurchase, Art. V, Sec. 7(i)

  • Obligation to provide on demand to participant using special drawing rights, Art. XIX, Sec. 4

  • Settlement with members withdrawing, Sched. J, par. 2, 4

  • Settlement with terminating participant, Art. XXIV, Sec. 5, 6; Sched. H

  • Use to acquire special drawing rights for payment of charge or assessment, Art. XX, Sec. 5; Art. XXIV, Sec. 3

  • Use to discharge obligations to Fund by participants in event of liquidation of Special Drawing Rights Department, Sched. I, par. 1

  • Use to obtain special drawing rights to fulfill reconstitution obligation, Sched. G, par. 1(a)(iv)

Fundamental disequilibrium; see Disequilibrium

General Department (see also General Resources Account; Investment Account; Special Disbursement Account):

  • Administration, Art. XII, Sec. 6; Art. XXI

  • Consisting of General Resources Account, Special Disbursement Account, and Investment Account, Introd. Art. (iii)

  • Establishment and operation, Introd. Art. (ii), (iii)

  • Holding of assets and property of Fund, Art. XVI, Sec. 2

  • Liquidation, Art. XXVII, Sec. 2; Sched. K

  • Operations and transactions, Art. XVI, Sec. 1 ; Art. XVII, Sec. 2

  • Purchase and sale of special drawing rights by participant, Art. V, Sec. 6(a), (b)

  • Reimbursement in special drawing rights for expenses of conducting business of Special Drawing Rights Department, Art. XVI, Sec. 2; Art. XXI(a)(iii)

  • Separation from Special Drawing Rights Department, Introd. Art. (ii), (iii)

  • Value of assets to be expressed in special drawing rights, Art. V, Sec. 10(a)

General reserve; see Reserves of Fund

General Resources Account :

  • Acceptance and holdings of special drawing rights, Art. XXI(a)(iii)

  • Acquisition of member’s own currency or freely usable currency by terminating participant, Sched. H, par. 1

  • Acquisition of special drawing rights by participant to pay charge or assessment, Art. XX, Sec. 5

  • Acquisition of special drawing rights by terminating participant, Sched. H, par. 2

  • Acquisition of special drawing rights to fulfill reconstitution obligation, Sched. G, par. 1(a)(iv)

  • Charges on balances of currency held, Art. V, Sec. 8(b)

  • Conduct of operations and transactions, Introd. Art. (iii)

  • Distribution of special drawing rights if decision to liquidate Fund within six months of decision to liquidate Special Drawing Rights Department, Sched. I, par. 2

  • Holding of general resources of Fund, Art. V, Sec. 2(a)

  • Holdings of a member’s currency, effect of gold sales, Art. V, Sec. 12(c)

  • Holdings of special drawing rights, Art. XVII, Sec. 2

  • Increase in quotas of members as of August 31, 1975 in amounts not exceeding amounts transferred from Special Disbursement Account, Art. III, Sec. 2(b)

  • Operations and transactions in special drawing rights with prescribed holders, Art. XVII, Sec. 3(iii)

  • Placement of proceeds of sale of gold, Art. V, Sec. 12(/); Sched. B, par. 7

  • Replenishment of Fund’s holdings of currencies, Art. VII, Sec. 1

  • Transactions to facilitate settlement with terminating participant, Art. XXIV, Sec. 6

  • Transfer of assets upon termination of Special Disbursement Account, Art. V, Sec. 12(j)

  • Transfer of holdings of withdrawing member’s currency in Special Disbursement Account or Investment Account, Sched. J, par. 1

  • Transfer of part of Investment Account upon termination or reduction of investment, Art. XII, Sec. 6(f)(viii), (ix)

Global liquidity; see Liquidity, international

Global need to supplement existing reserve assets; see Reserves

Gold:

  • Acceptance of payments by Fund, Art. V, Sec. 12(d)

  • Apportionment of gold holdings in case of liquidation of Fund, Sched. K, par. 2

  • Data members may be required to furnish, Art. VIII, Sec. 5(a)(i)-(iv), (vi)

  • Depositories, Art. XIII, Sec. 2(b)

  • Distribution in event of liquidation of Fund, Sched. K, par. 1, 2

  • Obligation to pay in repurchase or as subscription, payment in special drawing rights, Sched. B, par. 2

  • Price, fixed market, avoidance of management or establishment of, Art. V, Sec. 12(a)

  • Price for sales to be agreed on basis of market prices, Art. V, Sec. 12(c)

  • Price for sales to members on date of second amendment of the Agreement, Art. V, Sec. 12(c)

  • Sale by Fund, Art. V, Sec. 12(c), (d); Sched. B, par. 7

  • Sale by Fund on date of second amendment of the Agreement, Art. V, Sec. 12(e), (f)

  • Sale of up to 25 million ounces held as of August 31, 1975 to members of that date in proportion to their quotas, Sched. B, par. 7(a)

  • Sale of up to 25 million ounces held as of August 31, 1975 for benefit of developing countries, Sched. B, par. 7(b)

  • Transfer in an emergency, Art. XIII, Sec. 2(b)

  • Transfer of part of proceeds of sale to Investment Account, Art. XII, Sec. 6(f)(ii)

  • Transfer with due regard to costs and requirements of Fund, Art. XIII, Sec. 2(b)

  • Transitional provisions, Sched. B

  • Valuation in case of liquidation of Fund, Sched. K, par. 9

Governors; see Board of Governors

Holdings (see also Assets of Fund):

  • Adjustment in Fund’s holdings of member’s currency, Art. V, Sec. 11(b)

  • Balanced distribution of participants’ special drawing rights, Art. XIX, Sec. 5(b)

  • Balanced relationship between participants’ special drawing rights and other reserves, Sched. G, par. 1(b)

  • Distribution in event of liquidation of Fund, Sched. K

  • Fund’s holdings of a member’s currency, Art. III, Sec. 3(a), (c); Art. V, Sec. 7, 8(b), 9, 11; Art. XIII, Sec. 2; Art. XXX(a), (c)

  • Inclusion of securities accepted by Fund, Art. XXX(a)

  • Member’s currency not to be increased above level at which Fund’s holdings would be subject to charges, Art. III, Sec. 3(a); Art. V, Sec. 6(b), 7(i), 8(e), 12(c)

  • Publication of summary statement, Art. XII, Sec. 7(a)

  • Rates of computation of member’s

    currency, Art. V, Sec. 10(6) Recording of changes in holdings of special drawing rights, Art. XVI, Sec. 3

  • Repurchase, Sched. B, par. 4 Sale by Fund of member’s currency not repurchased, Art. V, Sec. 7(h)

  • Scarcity of member’s currency, Art. VII, Sec. 3

  • Special drawing rights in General Resources Account, Art. XVII, Sec. 2

  • Value of Fund’s assets, maintenance, Art. V, Sec. 11

Immunities; see Status, immunities, and privileges

Income of investment, Art. V, Sec. 12(h); Art. XII, Sec. 6(f)(iv)

Income, net, distribution, Art. XII, Sec. 6

Ineligibility; see Use of Fund’s general resources

Information :

  • Fund to act as center for collection and exchange of information on monetary and financial problems, Art. VIII, Sec. 5(c)

  • Members may be required to furnish, Art. VIII, Sec. 5

  • Necessary for surveillance over exchange rate policies of members, provision to Fund, Art. IV, Sec. 3(b)

  • No disclosure of affairs of individuals or corporations, Art. VIII, Sec. 5(b)

Interest on special drawing rights:

  • Accrued, payment upon liquidation of Special Drawing Rights Department, Art. XXV(c)

  • Accrued, settlement on termination of participation in Special Drawing Rights Department, Art. XXIV, Sec. 2(a)

  • Outstanding balance held by terminating participant, Art. XXIV, Sec. 3

  • Payment by Fund during liquidation of Special Drawing Rights Department, Sched. I, par. 5, 6

  • Payment in special drawing rights, Art. XX, Sec. 5

  • Payment to holders, Art. XX, Sec. 1

  • Rate, determination, Art. XX, Sec. 3

  • Rate, relation to remuneration rate, Art. V, Sec. 9(a)

International agreements:

  • Consultation between members regarding, Art. VIII, Sec. 6

  • Effect on restrictions, Art. VII, Sec. 5

  • Mutual accord for cooperation in exchange controls, Art. VIII, Sec. 2(b)

International Court of Justice, appointment of umpire of arbitration tribunal, Art. XXIX(c)

International liquidity; see Liquidity, international

International monetary system, purpose, general obligations of members, Art. IV, Sec. 1

International organizations, arrangements for cooperation with, Art. X

International surveillance of international liquidity, Art. VIII, Sec. 7

Interpretation of the Agreement:

  • Arbitration of disagreement between Fund and withdrawing member or member during liquidation of Fund, Art. XXIX(c)

  • Committee on Interpretation of Board of Governors, Art. XXI(c); Art. XXIX(b)

  • Decision, final, by Board of Governors, Art. XXIX(b)

  • Explanation of terms, Art. XXX

  • Matters relating exclusively to Special Drawing Rights Department, Art. XXI(c)

  • Question arising between Fund and member or between members to be submitted to Executive Board, Art. XXIX(a)

Intervention arrangements, Art. IV, Sec. 4

Investment Account:

  • Conduct of operations and transactions in General Department, Introd. Art. (iii)

  • Currency held not included in computations relating to quota, Art. V, Sec. 10(c)

  • Distribution of assets on termination or reduction, Art. XII, Sec. 6(f)(vii)-(ix)

  • Establishment and procedures, Art. XII, Sec. 6(f)

  • Holdings of currency or obligations of withdrawing member, Sched. J, par. 8, 9

  • Termination, Art. XII, Sec. 6(f)(vi)-(viii)

  • Transfer of part of excess from sale of gold, Art. V, Sec. 12(g); Art. XII, Sec. 6(f)(ii),(ix)

  • Transfer of withdrawing member’s currency to General Resources Account, Sched. J, par. 1

Investment, furnishing of information on international position by member, Art. VIII, Sec. 5(a)(vii)

Investment of Fund’s assets:

  • Income, Art. XII, Sec. 6(f)(iv)

  • Member’s currency held in Investment Account. Art. XII, par. 6(f)(iii)

  • Member’s currency held in Special Disbursement Account, Art. V, Sec. 12(h)

  • Reduction of amount, Art. XII, Sec. 6(f)(ix)

Liquidation of Fund:

  • Administration, Sched. I, par. 2; Sched. K

  • Decision of Board of Governors, Art. XXV(a); Art. XXVII, Sec. 2

  • Decision within six months of decision to liquidate Special Drawing Rights Department, Sched. I, par. 2

  • Disagreement during, Art. XXIX(c)

  • Settlement of accounts within six months of withdrawal from membership, Sched. J, par. 10; Sched. K

  • Termination of Investment Account, Art. XII, Sec. 6(f)(vi)-(viii)

  • Termination of Special Disbursement Account, Art. V, Sec. 12(j)

Liquidation of Special Drawing Rights Department:

  • Administration, Sched. I

  • Decision of Board of Governors, Art. XXV(a)

  • Decision within six months of decision to liquidate Fund, Sched. I, par. 2

  • Distribution of currency paid by participant in default, Sched. I, par. 7, 8

  • Payment of interest during liquidation, Sched. I, par. 5

  • Redemption by Fund of special drawing rights of holders, Art. XXV(c); Sched. I, par. 3, 7

  • Settlement with terminating participant, Sched. H, par. 4

  • Temporary suspension of allocations or cancellations and operations and transactions in an emergency, Art. XXV(a)

Liquidity, international:

  • Collaboration of members, Art. VIII, Sec. 7

  • International surveillance, Art. VIII, Sec. 7

  • Supervision of, Sched. D, par. 2(a)

Maintenance of value of members’ currencies:

  • Currencies held in General Resources Account, Art. V, Sec. 11

  • Currency of participants distributed in event of liquidation of Special Drawing Rights Department, Sched. I, par. 8

  • Currency of withdrawing member, Sched. J, par. 6

Management; see Organization and management

Managing Director:

  • Chairman of Executive Board, Art. XII, Sec. 4(a)

  • Chief of operating staff, Art. XII, Sec. 4(b)

  • Duty to Fund, Art. XII, Sec. 4(c) Immunities and privileges, Art. IX, Sec. 8, 9(b)

  • Participation in meetings of Board of Governors, Art. XII, Sec. 4(a)

  • Proposals for allocation or cancellation of special drawing rights, Art. XVIII, Sec. 4

  • Provision for, Art. XII, Sec. 1

  • Salary and terms of contract of service to be determined by Board of Governors, Art. XII, Sec. 2(i)

  • Selection by Executive Board, Art. XII, Sec. 4(a)

  • Subject to general control of Executive Board, Art. XII, Sec. 4(b)

  • Vote in Executive Board, Art. XII, Sec. 4(a)

  • Margins for spot exchange transactions, Art. XXVII, Sec. 1(a)(iv); Sched. C, par. 5

Meetings:

  • Board of Governors, participation by Managing Director, Art. XII, Sec. 4(a)

  • Board of Governors, provisions for, Art. XII, Sec. 2(c), (h); Art. XXI(a)(i)

  • Board of Governors, quorum, Art. XII, Sec. 2(d); Art. XXI(a)(i)

  • Council, Sched. D, par. 4, 5(a)

  • Executive Board, attendance by member not entitled to appoint an Executive Director, Art. XII, Sec. 3(j)

  • Executive Board, participation by Alternate Executive Directors, Art. XII, Sec. 3(e)

  • Executive Board, quorum, Art. XII, Sec. 3(h); Art. XXI(a)(ii)

Members (see also Holdings; Obligations of members; Territories):

  • Acceptance of membership, effective date, Art. XXXI, Sec. 2(b)

  • Acceptance of membership in accordance with member’s law, Art. XXXI, Sec. 2(a)

  • Action by member to make effective in terms of its law the status, immunities, and privileges of Fund, Art. IX, Sec. 10

  • Agencies dealing with Fund, Art. V, Sec. 1

  • Allocations of special drawing rights to member becoming a participant after start of basic period, Art. XVIII, Sec. 2(d)

  • Amendments to the Agreement, acceptance by, Art. XXVIII(a), (b)

  • Appointment of Councillors, Alternates, and Associates, Sched. D, par. 1(a), (b)

  • Communication of views of Fund to members, Art. XII, Sec. 8

  • Concurrence of member in investment of its currency, Art. V, Sec. 12(h); Art. XII, Sec. 6(f)(iii)

  • Concurrence of member in use of its currency, Art. III, Sec. 3(a), (c); Art. V, Sec. 6, 12(c), (h); Art. VII, Sec. 1(i); Art. XII, Sec. 6(f)(iii); Sched. B, par. 7(b)

  • Consent and payment required for change of quota, Art. III, Sec. 2(d)

  • Consultations between members regarding existing international agreements, Art. VIII, Sec. 6

  • Developing, sale of gold for benefit, Art. V, Sec. 12(f)(ii), (iii); Sched. B, par. 7(b)

  • Information required by Fund, Art. VIII, Sec. 5

  • Instrument of acceptance of the Agreement, deposit, Art. XXXI, Sec. 1, 2(a)-(c)

  • New, conditions of admission for, Art. II, Sec. 2; Art. XXXI, Sec. 2(f)

  • Notification to Fund of exchange arrangements to be applied and of any changes in these arrangements, Art. IV, Sec. 2(a)

  • On August 31, 1975, definition, Art. XXX(g)

  • On August 31, 1975, developing members, gold distribution in proportion to quotas, Art. V, Sec. 12(f)(iii)

  • On August 31, 1975, gold sales in proportion to quotas, Art. V, Sec. 12(c); Sched. B, par. 7(a)

  • On August 31, 1975, transfer of part of profits of gold sale, Sched. B, par. 7(b)

  • Original members, Art. II, Sec. 1 ; Art. XXXI, Sec. 2(e); Sched. A

  • Representation at Executive Board meetings of members not allowed to appoint a Director, Art. IX, Sec. 8; Art. XII, Sec. 3(j), 8; Art. XXIX(a)

  • Representation of need to use Fund’s general resources, Art. V, Sec. 3(b)(ii)

  • Resources contributed by, administration by Fund, Art. V, Sec. 2(b)

  • Right to participate in Special Drawing Rights Department, Introd. Art. (ii)

  • Signature of Articles of Agreement, Art. XXXI, Sec. 1, 2

  • Withdrawal, compulsory, Art. XIV, Sec. 3; Art. XXVI, Sec. 2; Sched. C, par. 7, 8

  • Withdrawal, right, Art. XXVI, Sec. 1; Art. XXVIII(b)(i)

  • Withdrawal, simultaneous termination of participation in Special Drawing Rights Department, Art. XXIV, Sec. 1(b)

  • Withdrawing, guarantee of unrestricted use of currency disposed of, Sched. J, par. 6

  • Withdrawing, indebtedness to Fund, Sched. J, par. 7, 10

  • Withdrawing, settlement of accounts, Art. XXVI, Sec. 3; Sched. J

Multilateral system of payments for current transactions, Fund’s purpose to assist in establishment, Art. I(iv)

Multiple currency practices, obligation of member to avoid, Art. VIII, Sec. 3

National income, furnishing of information concerning, Art. VIII, Sec. 5(a)(viii)

Negative balances of special drawing rights; see Special drawing rights

Net cumulative allocation of special drawing rights; see Special drawing rights

Net income, distribution, Art. XII, Sec. 6

Non-member countries :

  • Prescription as other holders of special drawing rights, Art. XVII, Sec. 3(i)

  • Restrictions on transactions with, Art. XI, Sec. 2

  • Undertakings regarding relations with, Art. XI, Sec. 1; Art. XXVII, Sec. 1(a)(iii)

Non-participants in Special Drawing Rights Department:

  • Discharge of obligation payable in special drawing rights with currencies of other members specified by Fund, Sched. B, par. 2

  • Payment of special drawing rights part of quota increase in currencies of other members, Art. III, Sec. 3(a)

  • Prescription as other holders of special drawing rights, Art. XVII, Sec. 3(i)

Obligations of members :

  • Assets of Fund, obligation to guarantee against loss, Art. XIII, Sec. 3

  • Avoidance of discriminatory currency practices, Art. VIII, Sec. 3

  • Avoidance of restrictions on current payments, Art. VIII, Sec. 2

  • Collaboration regarding policies on reserve assets, Art. VIII, Sec. 7

  • Collaboration to assure orderly exchange arrangements and promote stable system of exchange rates, Art. IV, Sec. 1

  • Compliance regarding exchange arrangements, surveillance by Fund, Art. IV, Sec. 3

  • Consultation between members regarding existing international agreements, Art. VIII, Sec. 6

  • Convertibility of foreign-held balances, Art. VIII, Sec. 4

  • Discriminatory currency arrangements, Fund approval required, Art. VIII, Sec. 3

  • Exchange arrangements, Art. IV; Sched. C, par. 9

  • Failure to fulfill, Art. V, Sec. 5; Art. VI, Sec. 1(a); Art XIV, Sec. 3; Art. XXVI, Sec. 2(a)

  • Furnishing of information, Art. VIII, Sec. 5

  • Multiple currency practices, Fund approval required, Art. VIII, Sec. 3

  • Notification to Fund concerning transitional arrangements or acceptance of Article VIII, Sec. 2, 3, and 4, Art. XIV, Sec. 1

  • Relations with non-member countries, Art. XI

  • Repurchase, Art. V, Sec. 7

  • Reserve assets, policies regarding, Art. VIII, Sec. 7

  • Restrictions on payments and transfers for current transactions, Fund approval required, Art. VIII, Sec. 2(a)

Obligations of participants in Special Drawing Rights Department:

  • Failure to fulfill, Art. XXIII, Sec. 2

  • General obligations, Art. XXII

  • Liquidation of Special Drawing Rights Department, Sched. I, par. 1, 5, 7, 8

  • Payment of interest, charges, and assessments, Art. XX, Sec. 5

  • Reconstitution of holdings, Art. XIX, Sec. 6(a); Sched. G

  • Requirement of need, Art. XIX, Sec. 3(a)

  • Termination of participation, settlement, Art. XXIV, Sec. 4, 5; Sched. H

  • To provide freely usable currency to participant using special drawing rights on designation by Fund, Art. XIX, Sec. 4

  • To receive allocations of special drawing rights, Art. XVIII, Sec. 2(e)

Offices, location of, Art. XIII, Sec. 1

Operations and transactions:

  • Capital transactions, Art. VI, Sec. 1(b); Art. XXX(d)

  • Conduct by General Department and Special Drawing Rights Department, Introd. Art. (ii), (iii); Art. XXI

  • Current transactions, Art. XXX(d)

  • Decisions affecting, majorities required, Art. XXI(a)(iii)

  • Definitions of transactions and operations in special drawing rights, Art. XXX(i)

  • Definitions of transactions and operations of Fund, Art. XXX(h)

  • Immunity from taxes, Art. IX, Sec. 9; Art. XXI(b)

  • Limitations, Art. V, Sec. 2; Art. XXVII

  • Other holders of special drawing rights, Art. XVII, Sec. 2, 3

  • Publication of summary statement, Art. XII, Sec. 7(a)

  • Separation of General Department and Special Drawing Rights Department, Introd. Art. (ii), (iii); Art. XVI, Sec. 1

  • Special drawing rights, Art. XVII, Sec. 2, 3; Art. XIX; Art. XXX(i)

  • Temporary suspension of certain provisions of the Agreement, Art. XXIII, Sec. 1; Art. XXVII, Sec. 1; Sched. D, par 5(a)

  • Temporary suspension of, in special drawing rights, Art. XXIII; Sched. D, par. 5(a)

  • Temporary suspension of operations and transactions pending decision to liquidate Fund, Art. XXVII, Sec. 2(a)

Organization and management:

  • Board of Governors, Art. XII, Sec. 2

  • Communication of views to members, Art. XII, Sec. 8

  • Executive Board, Art. XII, Sec. 3

  • Location of offices, Art. XIII, Sec. 1

  • Managing Director and staff, Art. XII, Sec. 4

  • Publication of reports, Art. XII, Sec. 7

  • Status, immunities, and privileges, Art. IX; Art. XXI(b)

  • Structure of Fund, Art. XII, Sec. 1

  • Voting of members, Art. XII, Sec. 5

Par values (see also Exchange arrangements; Exchange rates):

  • Authority for establishment, Art. IV, Sec. 4; Sched. C, par. 1

  • Change, Art. XXVIII(b)(iii); Sched. C, par. 6, 7

  • Concurrence by Fund, Sched. C, par. 4

  • Failure to fulfill obligations, Sched. C, par. 7, 8

  • Introduction of widespread system of stable but adjustable par values, Art. IV, Sec. 4

  • New, proposal by member for whose currency par value has ceased to exist, Sched. C, par. 10

  • Spot exchange transactions, margins, Art. XXVII, Sec. 1(a)(iv); Sched. C, par. 5

  • Termination, Sched. C, par. 8

  • Uniform proportionate changes, Sched. C, par. 11

  • Unrealistic, maintenance to be discouraged, Sched. C, par. 7

Participants in Special Drawing Rights Department (see also Obligations of participants in Special Drawing Rights Department; Special Drawing Rights Department):

  • Allocations to members that become participants after start of a basic period, Art. XVIII, Sec. 2(d)

  • Assessments and payment of interest and charges, Art. XX, Sec. 4, 5

  • Broad support for allocation and cancellation of special drawing rights to be ascertained, Art. XVIII, Sec. 4(b)

  • Consultation with Fund on procedure for determining exchange rates, Art. XIX, Sec. 7(c)

  • Definition, Art. XVII, Sec. 1

  • Deposit of instrument of undertaking, Art. XVII, Sec. 1

  • Designation, due regard to be paid in replenishing currencies with special drawing rights, Art. VII, Sec. 1(ii)

  • Designation rules, review, Art. XIX, Sec. 5(c)

  • Designation and timing for acquiring special drawing rights for reconstitution, Sched. G, par. 1(a)(ii)

  • Designation to provide currency for special drawing rights, Art. XIX, Sec. 4(a), 5; Sched. F

  • Failure to fulfill expectation of requirement of need, Art. XIX, Sec. 3(b), (c), 5(a)(ii); Art. XXIII, Sec. 2(b)-(f)

  • Failure to fulfill obligation to provide currency, Art. XXIII, Sec. 2(a), (c)-(e)

  • Guarantee of unrestricted use of currency distributed in liquidation of Special Drawing Rights Department, Sched. I, par. 8

  • Information to be provided to Fund, Art. XVI, Sec. 3

  • Nonreceipt of allocations of special drawing rights, Art. XVIII, Sec. 2(e)

  • Obligation to provide currency for special drawing rights, Art. VII, Sec. 1(ii); Art. XIX, Sec. 4; Art. XXIII, Sec. 2(d)

  • Operations and transactions between participants, Art. XIX, Sec. 2

  • Operations and transactions with prescribed holders, Art. XVII, Sec. 3(iii)

  • Reconstitution obligation, Art. XIX, Sec. 6; Sched. G

  • Requirement of need, Art. XIX, Sec. 3

  • Specified by Fund to provide a currency in settlement of obligation to terminating participant, Art. XXIV, Sec. 5

  • Termination of participation, Art. XXIV; Sched. H

Payments; see Balance of payments; Current transactions

Price indices, furnishing of information concerning, Art. VIII, Sec. 5(a)(ix)

Price movements, consideration in determination to introduce par values, Art. IV, Sec. 4

Price stability, obligation of member to direct policies toward, Art. IV, Sec. 1(i)

Privileges; see Status, immunities, and privileges

Purchase of exchange; see Use of Fund’s general resources

Purposes of Fund:

  • Allocation and cancellation of special drawing rights to promote attainment, Art. XVIII, Sec. 1(a)

  • Capital movements in accordance with, Art. VI. Sec. 1(b)(ii)

  • Continuous regard by members in foreign exchange policies, Art. XIV, Sec. 2

  • Exchange arrangements consistent with, Sched. C, par. 3, 9

  • Financial and technical services of Fund, including administration of resources contributed by members, consistent with purposes, Art. V, Sec. 2(b)

  • Policies and decisions to be guided by, Art. I

  • Statement, Art. I

  • Use of Fund’s general resources in manner contrary to, Art. V, Sec. 5

Quorum; see Meetings

Quotas:

  • Adjustment, Art. III, Sec. 2

  • Amendment modifying provisions dealing with change in member’s quota, Art. XXVIII(b)(ii)

  • Basis for allocation and cancellation of special drawing rights, Art. XVIII, Sec. 2(c)(iii)

  • Consent of member and payment required for change, Art. III, Sec. 2(d)

  • Distribution of net income in proportion to, Art. XII, Sec. 6(c)

  • Distribution of part of general reserve in proportion to, Art. XII, Sec. 6(d)

  • Distribution of part of proceeds from sale of gold to developing members in proportion to, Art. V, Sec. 12(f) (iii); Sched. B, par. 7(b)

  • General review at intervals of not more than five years, Art. III, Sec. 2(a)

  • Increase to full extent possible in event of liquidation of Fund, Sched. K, par. 10

  • Increases, payment, Art. III, Sec. 3(a), (b), (d)

  • Original members, Art. III, Sec. 1; Sched. A

  • Other members, Art. III, Sec. 1

  • Percentage applying to remuneration, Art. V, Sec. 9(a)-(c)

  • Proposal for increase at any time for those members that were members on August 31, 1975, Art. III, Sec. 2(b)

  • Reduction, payment by Fund to member, Art. III, Sec. 3(c)

  • Sale of gold to members in proportion to, Art. V, Sec. 12(e); Sched. B, par. 7(a)

Reconstitution of holdings of special drawing rights:

  • Acquisition of special drawing rights from General Resources Account to fulfill obligation, Sched. G, par. 1(a)(iv)

  • Failure to comply with rules, Sched. G, par. 2

  • Obligation of participants, Art. XIX, Sec. 6; Sched. G, par. 1(a)(i), (iv)

  • Participants subject to designation to promote, Art. XIX, Sec. 3(c), 5(a)(ii); Sched. G, par. 1(a)(ii)

  • Rules during first basic period, Sched. G, par. 1

  • Rules, review at any time, Ari. XIX, Sec. 6(b)

Remuneration on members’ creditor positions:

  • Payment in special drawing rights or in member’s own currency, Art. V. Sec. 9(d)

  • Payment on amount by which prescribed percentage of a member’s quota exceeds average daily balances of Fund’s holdings of the member’s currency, Art. V, Sec. 9

  • Percentage of quota applying to calculation, Art. V, Sec. 9

  • Rate of, determination and relation to rate of interest and charges, Art. V, Sec. 9(a)

Replenishment of Fund’s holdings of currency; see Scarce currencies

Reports :

  • Annual report, Art. XII, Sec. 7(a)

  • Audited statement of accounts, Art. XII, Sec. 7(a)

  • Exchange restrictions, annual, Art. XIV, Sec. 3

  • General scarcity of particular currency, Art. VII, Sec. 2

  • Other reports deemed desirable, Art. XII, Sec. 7(b)

  • Publication of report made to member regarding its economic conditions which tend to produce disequilibrium in international balance of payments, Art. XII, Sec. 8

  • Summary statement of operations and transactions and holdings of special drawing rights, gold, and members’ currencies, Art. XII, Sec. 7(a)

Repurchases of currency held by Fund:

  • Change of periods for repurchase, Art. V, Sec. 7(c), (d), (f)

  • Conditions governing repurchase, Art. V, Sec. 7(b)-(j); Art. XXVII, Sec. 1(a)(i); Sched. B

  • Currency not acquired by purchase and subject to charges, Art. V, Sec. 7(e)

  • Entitlement to repurchase at any time holdings subject to charges, Art. V, Sec. 7(a); Art. XXVII, Sec. 1(a)(i)

  • Failure to make repurchase required, charges on Fund’s holdings, Art. V, Sec. 8(c)

  • Installments, prescription during 3-to-5-year period, Art. V, Sec. 7(c)

  • Not later than five years after purchase, Art. V, Sec. 7(c)

  • Postponement, Art. V, Sec. 7(g)

  • Pursuant to a special policy on use of Fund’s general resources, adoption of other periods, Art. V, Sec. 7(d), (f)

  • Sale of Fund holdings of currency not repurchased, Art. V, Sec. 7(h)

  • Temporary suspension, Art. XXVII, Sec. 1(a)(i)

  • Transitional provisions, Sched. B

  • With special drawing rights or currencies specified by Fund, Art. V, Sec. 7(i)

Requirement of need:

  • For purchase of currency from Fund’s general resources, Art. V, Sec. 3(b)(ii)

  • For use of special drawing rights, Art. XIX, Sec. 3(a)

Reserve tranche purchases:

  • Conditions governing use of Fund’s general resources, Art. V, Sec. 3(b)(iii)

  • Definition, Art. XXX(c)

  • Not subject to challenge, Art.V, Sec. 3(c)

  • Service charge, Art. V, Sec. 8(a)(i)

  • Use to meet capital transfers, Art. VI, Sec. 2; Art. XXVII, Sec. 1(a)(ii)

Reserves:

  • Balanced relationship of holdings of special drawing rights and other reserves, Sched. G, par. 1(b)

  • Global need to supplement, consideration in decisions on allocation and cancellation of special drawing rights, Art. XVIII, Sec. 1(a)

  • Objective of making special drawing right principal reserve asset, Art. VIII, Sec. 7

  • Obligation of members to collaborate regarding policies on reserve assets, Art. VIII, Sec. 7

  • Position, relation to participants’ designation to provide currency, Art. XIX, Sec. 5(a)(i)

  • Position, taken into account in selection of currencies to be sold, Art. V, Sec. 3(d)

  • Repurchase expected as reserve position improves, Art. V, Sec. 7(b)

  • Transactions in special drawing rights not for sole purpose of changing composition of reserves, Art. XIX, Sec. 3(a)

Reserves of Fund :

  • Placement of net income to general or special reserve, Art. XII, Sec. 6(a)

  • Special reserve, use, Art. XII, Sec. 6(b)

Restrictions on payments and transfers; see Exchange restrictions

Rules and Regulations, adoption by Board of Governors, Council, and Executive Board, Art. XII, Sec. 2(g); Sched. D, par. 5(a)

Scarce currencies :

  • Administration of restrictions, Art. VII, Sec. 4

  • Effect of other international agreements on restrictions, Art. VII, Sec. 5

  • Exception to Fund payment of installment due to withdrawing member, Sched. J, par. 3

  • Exception to obligation of member not to impose restrictions on current international transactions, Art. VIII, Sec. 2(a)

  • Exception to obligation of member to buy balances of currency held by another member, Art. VIII, Sec. 4(b)(iv)

  • Exception to entitlement of member to purchase currency of another member, Art. V, Sec. 3(d)

  • Formal declaration by Fund, Art. VII, Sec. 3(a), (b)

  • Measures to replenish Fund’s holdings, Art. VII, Sec. 1

  • Notification and report to members on general scarcity of a particular currency, Art. VII, Sec. 2

Securities:

  • Inclusion in Fund’s holdings, Art. XXX(a)

  • Investment in marketable obligations, Art. V, Sec. 12(h); Art. XII, Sec. 6(f)(iii)

  • Substitution for currency, Art. III, Sec. 4

Separate currencies within a member’s territories, Art. IV, Sec. 5

Special Disbursement Account:

  • Currency held not included in computations relating to quota, Art. V, Sec. 10(c)

  • Disbursement of assets in event of liquidation of Fund, Sched. K, par. 2(a)(ii)

  • Discharge of indebtedness of withdrawing member, Art. XXVII, Sec. 2(b); Sched. J, par. 7

  • Establishment in General Department, Introd. Art. (iii); Art. V, Sec. 12(f)

  • Expenses, reimbursement, Art. V, Sec. 12(i)

  • Holdings of currencies or obligations of withdrawing member, Sched. J, par. 8,9

  • Increase in quotas of members as of August 31, 1975 not to exceed amounts transferred therefrom to General Resources Account, Art. III, Sec. 2(b)

  • Investment of currency held, Art. V, Sec. 12(h)

  • Termination, Art. V, Sec. 12(j)

  • Transfer of assets from Investment Account on reduction of investment, Art. XII, Sec. 6(f)(ix)

  • Transfer of assets from Investment Account upon termination prior to liquidation of Fund, Art. XII, Sec. 6(f)(viii)

  • Transfer of assets subject to disposition after sale of gold for benefit of developing members, Sched. B, par. 7

  • Transfer of withdrawing member’s currency to General Resources Account, Sched. J, par. 1

Special drawing rights (see also Charges;

  • Interest on special drawing rights;

  • Special Drawing Rights Department):

  • Acceptance and holding in General Resources Account, Art. XXI(a)(iii)

  • Acquisition by terminating participant to discharge obligation, Sched. H, par. 2

  • Acquisition to fulfill reconstitution requirement, Sched. G, par. 1(a)(iv)

  • Allocation and cancellation, Art. XVIII; Sched. D, par. 5(a)

  • Authority for allocation, Art. XV, Sec. 1

  • Balanced relationship with other reserves, Sched. G, par. 1(b)

  • Basic periods for allocation and cancellation, Art. XVIII, Sec. 2, 3, 4; Sched. F, G

  • Exchange rates for transactions between participants, Art. XIX, Sec. 7

  • First decision to allocate, Art. XVIII, Sec. 1(b), 2(a), 4(b)

  • Fund as holder, Art. XVII, Sec. 2

  • Immunity from taxation, Art. XXI(b)

  • Interest and charges during liquidation of Special Drawing Rights Department, Sched. I, par. 5

  • Investment in obligations denominated in, Art. XII, Sec. 6(f)(iii)

  • Negative balances, Art. XVIII, Sec. 2(f); Art. XIX, Sec. 3(c), 5(a)(ii); Art. XX, Sec. 2

  • Net cumulative allocation, definition, Art. XXX(e)

  • Net cumulative allocations, Art. XVIII, Sec. 2(c)(iii); Art. XIX, Sec. 4(a); Art. XX, Sec. 2, 4; Art. XXV(c); Sched. F(a); Sched. G, par. 1(a)(i); Sched. I, par. 5, 7

  • Nonacceptance of allocation (opting out), Art. XVIII, Sec. 2(e)

  • Nonacceptance of allocation, termination of effect of (opting back in), Art. XVIII, Sec. 2(c)(ii)

  • Obligation of member to sell its currency to Fund for special drawing rights held in General Resources Account, Art. VII, Sec. 1(ii)

  • Operations in, definition, Art. XXX(i)

  • Operations or transactions prejudicial to designation process, Art. XIX, Sec. 2(d)

  • Other holders, Art. XVII, Sec. 2, 3

  • Payment by Fund to member consenting to quota reduction, Art. III, Sec. 3(c)

  • Payment in purchase of foreign-held balances, Art. VIII, Sec. 4(a)

  • Payments for distribution of net income or part of general reserve, Art. XII, Sec. 6(e)

  • Principal reserve asset, Art. VIII, Sec. 7; Art. XXII

  • Principles and considerations governing allocation and cancellation, Art. XVIII, Sec. 1

  • Proper use, obligation of participants, Art. XXII

  • Provision to participant making purchase instead of currencies of other members, Art. V, Sec. 3(f)

  • Purchase and sale by Fund, Art. V, Sec. 6

  • Rates for allocation and cancellation, Art. XVIII, Sec. 2(b), 3, 4(c)(iii), (d)

  • Reconstitution of holdings, Art. XIX, Sec. 6; Sched. G

  • Recording of changes in holdings, Art. XVI, Sec. 3

  • Redemption by Fund in event of liquidation of Special Drawing Rights Department, Sched. I, par. 1, 3, 4

  • Redemption by Fund of holdings of terminating participant, Art. XXIV, Sec. 2(b), 6; Sched. H, par. 1

  • Requirement of need, Art. XIX, Sec. 3(a)

  • Reserve tranche purchase, Art. XXX(c)

  • Summary statement of operations and transactions and Fund holdings, Art. XII, Sec. 7(a)

  • Temporary suspension of allocations or cancellations and operations and transactions, Art. XXV(a)

  • Transactions in, definition, Art. XXX(i)

  • Use for discharge of obligation to pay gold to Fund in repurchase or as subscription, Sched. B, par. 2, 3

  • Use for payment of 25 percent of quota increase, Art. III, Sec. 3(a)

  • Use for payment of interest, charges, and assessments, Art. V, Sec. 8(e); Art. XX, Sec. 5; Art. XXIV, Sec. 2(a), 3

  • Use for payment of remuneration, Art. V, Sec. 9(d)

  • Use for replenishing currency holdings, Art. VII, Sec. 1(ii)

  • Use for repurchases, Art. V, Sec. 7(i)

  • Use in operations and transactions, Art. XIX, Sec. 1

  • Use in transactions between participants, Art. XIX, Sec. 2

  • Use to obtain own currency or freely usable currency by terminating participant, Sched. H, par. 1

  • Valuation by member of its currency in terms of, Art. IV, Sec. 2(b)

  • Valuation in terms of gold, Art. V, Sec. 12(e), (f); Sched. B, par. 3, 7; Sched. K, par. 2(a)(i)

  • Valuation, method, Art. XV, Sec. 2; Art. XXI(a)(iii)

  • Valuation of Fund’s assets in terms of, Art. V, Sec. 10, 11

Special Drawing Rights Department (see also Obligations of participants in Special Drawing Rights Department; Participants in Special Drawing Rights Department):

  • Administration, Art. XVI; Art. XXI

  • Council decisions, Sched. D, par. 5(b)

  • Entry into force, Art. XVII, Sec. 1

  • Establishment and operation, Introd. Art. (ii), (iii)

  • Expenses of conducting business, reimbursement to General Department, Art. XVI, Sec. 2; Art. XX, Sec. 4, 5

  • General obligations of participants, Art. XXII Indication of decisions relating to, Art. XXI(a)(iii)

  • Interest and charges, Art. XX; Art. XXIV, Sec. 3

  • Liquidation, Art. XXV; Sched. I

  • Non-participants’ payments when quotas are changed, Art. III, Sec. 3(a)

  • Operations and transactions, Introd. Art. (ii), (iii); Art. XVI, Sec. 1; Art. XVII, Sec. 2

  • Right of members to participate, Introd. Art. (ii)

  • Separation from General Department, Introd. Art. (iii); Art. XVI, Sec. 1, 2

  • Temporary suspension of operations in event of emergency or unforeseen circumstances, Art. XXIII, Sec. 1

  • Termination of participation, Art. XXIV; Sched. H

Special reserve; see Reserves of Fund

Spot exchange transactions, Art. XXVII, Sec. 1(a)(iv); Sched. C, par. 5

Stability; see Exchange stability

Stabilization fund, agency dealing with Fund, Art. V, Sec. 1

Staff:

  • Appointment and organization, Art. XII, Sec. 4(b), (d)

  • Duty to Fund, Art. XII, Sec. 4(c)

  • Immunities and privileges, Art. IX, Sec. 8, 9(b)

  • Managing Director to be chief of operating staff, Art. XII, Sec. 4(b)

  • Provision for, Art. XII, Sec. 1

Stand-by arrangements :

  • Charge, Art. V, Sec. 8(a)(ii)

  • Definition, Art. XXX(b)

  • Policies, adoption, Art. V, Sec. 3(a)

Status, immunities, and privileges:

  • Accorded to Fund in territories of each member, Art. IX, Sec. 1

  • Action by each member in its own territory, Art. IX, Sec. 10

  • Freedom of assets from restrictions, Art. IX, Sec. 6

  • Immunities and privileges of officers and employees, Art. IX, Sec. 8; Sched. D, par. 5(d)

  • Immunities from taxation, Art. IX, Sec. 9; Art. XXI(b)

  • Immunity from judicial process, Art. IX, Sec. 3

  • Immunity from other action, Art. IX, Sec. 4

  • Immunity of archives, Art. IX, Sec. 5

  • Juridical personality of Fund, Art. IX, Sec. 2

  • Privilege for communications, Art. IX, Sec. 7

  • Status of Fund, Art. IX, Sec. 2

Subscriptions:

  • Amount to be transmitted to U.S. Government when the Agreement is signed, Art. XXXI, Sec. 2(d), (h)

  • Discharge with special drawing rights of any obligation to pay gold, Sched. B, par. 2, 3

  • Equal to member’s quota, Art. III, Sec.1

  • New members, terms to be consistent with those of previous members, Art. II, Sec. 2

  • Payment in full to Fund at appropriate depository, Art. III, Sec. 1

  • Payment in special drawing rights, currencies of other members specified by Fund, or member’s own currency, Art. III, Sec. 3(a)

  • Payments when quotas are changed, Art. III, Sec. 2(d), 3

  • Repayment in case of liquidation, Sched. K, par. 1

Surveillance; see International surveillance . . .

Suspension of transactions:

  • In emergency pending decision on liquidation of Fund, Art. XXVII, Sec. 2(a)

  • In event of emergency or unforeseen circumstances, Art. XXIII, Sec. 1 ; Art. XXVII, Sec. 1

  • Participant that fails to comply with rules for reconstitution, Sched. G, par. 2

  • Participant that has failed to fulfill obligations with respect to special drawing rights, Art. XXIII, Sec. 2

  • Special drawing rights, Art. XXIII

Taxation, immunities from, Art. IX, Sec. 9; Art. XXI(b)

Technical services; see Financial and technical services

Termination of participation in Special Drawing Rights Department, Art. XXIV; Sched. H

Territories:

  • Acceptance of the Agreement in respect of, Art. XXXI, Sec. 2(g)

  • Immunities of Fund in, Art. IX, Sec. 10

  • Margins for spot exchange transactions within territories of member having par value, Art. XXVII, Sec. 1(a)(iv); Sched. C, par. 5

  • Transactions with non-members, Art. XI, Sec. 1, 2; Art. XXVII, Sec. 1(a)(iii)

  • Unenforceability of exchange contracts in, Art. VIII, Sec. 2(b)

Trade, international, facilitation of expansion and balanced growth, Art. I(ii)

Transactions; see Operations and transactions

Transitional arrangements:

  • Annual report on exchange restrictions, Art. XIV, Sec. 3

  • Consultations, annual, on restrictions in force, Art. XIV, Sec. 3

  • Maintenance and adaptation of restrictions on payments and transfers, Art. XIV, Sec. 2

  • Notification to Fund, Art. XIV, Sec. 1

  • Representations by Fund on restrictions inconsistent with purposes of Fund, Art. XIV, Sec. 3

  • Withdrawal of exchange restrictions, Art. XIV, Sec. 2, 3

Transitional provisions with respect to repurchase, payment of additional subscriptions, gold, and certain operational matters, Sched. B

Treasury, agency dealing with Fund, Art. V, Sec. 1

Unexpected major developments, change in rates or intervals for allocation or cancellation of special drawing rights, Art. XVIII, Sec. 3, 4(d)

Unforeseen circumstances, Art. XXIII, Sec. I; Art. XXVII, Sec. 1(a); Sched. D, par. 5(a)

United States Government:

  • Deposit of instrument of acceptance with, Art. XXXI, Sec. 2(a)

  • Obligation to inform all members of signatures to the Agreement and deposit of instruments of acceptance, Art. XXXI, Sec. 2(c)

  • Partial payment of subscription transmitted to, for administrative expenses, Art. XXXI, Sec. 2(d), (h)

Use of Fund’s general resources (see also Operations and transactions):

  • Buffer stocks, international, financing of contributions to, Art. XXX(c)(ii)

  • Capital transfers, Art. VI, Sec. 1, 2; Art. XXVI, Sec. 2(a); Art. XXVII, Sec. 1(a)(ii)

  • Charges, Art. V, Sec. 8; Art. XXVII, Sec. 1(a)(i)

  • Compensatory financing of export fluctuations, Art. XXX(c)(i)

  • Conditions governing use, Art. V, Sec. 3; Art. XXVII, Sec. 1(a)(i)

  • Currencies to be used in repurchases, policies and procedures, Art. V, Sec. 7(i)

  • Ineligibility, change in par value despite Fund objection, Sched. C, par. 7

  • Ineligibility, distribution of proceeds of gold sales to developing members when ineligibility ceases, Art. V, Sec. 12(f)(iii)

  • Ineligibility, exception to obligation to buy foreign-held balances of currency, Art. VIII, Sec. 4(b)(v)

  • Ineligibility, failure to fulfill obligations, Art. V, Sec. 5; Art. VI, Sec. 1(a); Art. XXIII, Sec. 2(f); Art. XXVI, Sec. 2(a)

  • Ineligibility if member persists in maintaining restrictions, Art. XIV, Sec. 3

  • Ineligibility, not previously declared by Fund, Art. V, Sec. 3(b)(iv)

  • Ineligibility, termination of par value despite Fund objection, Sched. C, par. 8

  • Limitation because of use of resources contrary to Fund’s purposes, Art. V, Sec. 5

  • Policies, Art. V, Sec. 3(a), (c), (d)

  • Proceeds of sale of gold, Art. V, Sec. 12(f)

  • Purchase of currency of member which has withdrawn, Sched. J, par. 5

  • Request for purchase, examination, Art. V, Sec. 3(c)

  • Requirement of need, Art. V, Sec. 3(b)(ii)

  • Reserve tranche purchase, Art. V, Sec. 3(a)(iii), (c); Art. XXX(c)

  • Selection of currencies to be sold, Art. V, Sec. 3(d)

  • Special policies for special balance of payments problems, Art. V, Sec. 3(a), 7(d), (f)

  • Stand-by or similar arrangements, Art. V, Sec. 3(a), 8(a)(ii); Art. XXX(b)

  • Temporary suspension, Art. XXVII, Sec. 1

  • Temporary use under adequate safeguards, Art. I(v); Art. V, Sec. 3(a)

  • Waiver of conditions, Art. V, Sec. 4

Voting:

  • 70 percent majority requirement:

    • Authorization to agree on exchange rates for certain transactions, Art. XIX, Sec. 7(b)

    • Charges, determination of rates, Art. V, Sec. 8(a), (b), (d)

    • Distribution from general reserve, Art. XII, Sec. 6(d)

    • Imposition of charges on failure to repurchase, Art. V, Sec. 8(c), (d)

    • Increase in percentage of quota as level for remuneration, Art. V, Sec. 9(c)

    • Investment Account, adoption of rules and regulations for administration, Art. XII, Sec. 6(f)(vi)

    • Investment Account, reduction of amount or termination, Art. XII, Sec. 6(f)(vi)

    • Postponement of repurchase, Art. V, Sec. 7(g)

    • Prescription of medium of payment for additional subscription, Art. Ill, Sec. 3(a), (d)

    • Prescription of operations between participants, Art. XIX, Sec. 2(c)

    • Publication of report on member’s monetary conditions and developments, Art. XII, Sec. 8

    • Rate of interest and charges on special drawing rights, Art. XX, Sec. 3

    • Reconstitution rules, adoption, modification, or abrogation, Art. XIX, Sec. 6(b)

    • Remuneration rate, determination, Art. V, Sec. 9(a)

    • Repurchase of Fund holdings not acquired as result of purchases, adoption of policies, Art. V, Sec. 7(e)

    • Special Disbursement Account, rules and regulations for administration and for termination prior to liquidation of Fund, Art. V, Sec. 12(j)

    • Transfer of currencies in General Resources Account to Investment Account, Art. XII, Sec. 6(f)(i)

    • Transfers of assets from Special Disbursement Account to General Resources Account for immediate use, Art. V, Sec. 12(f)(i)

    • Uniform proportionate changes in par values, Sched. C, par. 11

    • Valuation of special drawing rights, determination of method, Art. XV, Sec. 2

  • 85 percent majority requirement:

    • Allocation and cancellation of special drawing rights, decisions, Art. XVIII, Sec. 2(a)-(c), 4(a), (d)

    • Change in rates or intervals of allocation or cancellation or change in length of a basic period or start of a new basic period, Art. XVIII, sec. 3, 4(a), (d)

    • Changes in quotas, Art. III, Sec. 2(c)

    • Compulsory withdrawal of member, decision of Board of Governors carried by majority of Governors, Art. XXVI, Sec. 2(b)

    • Council, change in number of Associates, Sched. D, par. 1(a)

    • Council, establishment, Art. XII, Sec. 1

    • Decisions to engage in certain gold operations or transactions, Art. V, Sec. 12(b)-(e)

    • Exchange rates for certain transactions, Art. XIX, Sec. 7(b)

    • Increase or decrease in number of Executive Directors to be elected, Art. XII, Sec. 3(b)

    • Interpretation of Fund Agreement, overrule of decision of Committee on Interpretation, Art. XXIX(b)

    • Introduction of par values, Art. IV, Sec. 4

    • Maintenance of number of elective Executive Directors, Art. XII, Sec. 3(b)

    • Margins for spot exchange transactions, adoption, Art. XXVII, Sec. 1(a)(iv); Sched. C. par. 5

    • Objection to termination of par value, Sched. C, par. 8

    • Policies on use of Fund’s general resources, exclusions of purchases and holdings for purpose of calculating member’s reserve tranche, Art. XXX(c)(iii)

    • Prescription of other holders of special drawing rights, Art. XVII, Sec. 3(i)

    • Provision for general exchange arrangements, Art. IV, Sec. 2(c)

    • Repurchase, adoption of other periods pursuant to special policy on use of general resources, Art. V, Sec. 7(c), (d)

    • Temporary suspension of certain provisions, Art. XXVII, Sec. 1(a), (b)

    • Temporary suspension of operations and transactions in special drawing rights, Art. XXIII, Sec. 1

    • Transfer of part of excess from sale of gold to Investment Account, Art. V, Sec. 12(g)

    • Use of assets of Special Disbursement Account for operations and transactions not authorized by other provisions and for distribution to developing members. Art. V, Sec. 12(f)(ii), (iii)

    • Valuation of special drawing right, change in principle or in application of principle in effect, Art. XV, Sec. 2

  • Adjustment of votes, waiver of conditions and ineligibility to use Fund’s general resources, Art. XII, Sec. (5b)

  • Alternate Governor, Art. XII, Sec. 2(a)

  • Amendment of the Agreement, Art. XXVIII(a)

  • Board of Governors, matters pertaining exclusively to Special Drawing Rights Department, Art. XXI(a)(i)

  • Board of Governors, meetings called by Executive Board, Art. XII, Sec. 2(c)

  • Cast by Councillor for member whose votes cannot be cast by an Executive Director, Sched. D, par. 3(b), 5(b)

  • Council, matters pertaining exclusively to Special Drawing Rights Department, Sched. D, par. 5(b)

  • Decisions, Art. XXI(a)(iii)

  • Election of Executive Director to fill vacancy, Art. XII, Sec. 3(f)

  • Election of Executive Directors, changes in proportion of votes required to elect, Art. XII, Sec. 3(d); Sched. E

  • Election of Executive Directors, procedures, Sched. E

  • Executive Board, matters relating exclusively to Special Drawing Rights Department, Art. XXI(a)(ii)

  • Majority of total voting power of Executive Board for termination of suspension of operation of certain provisions, Art. XXVII, Sec. 1(c)

  • Majority of votes cast for Fund decisions unless otherwise provided for, Art. XII, Sec. 5(c)

  • Number of votes, appointed and elected Executive Directors, Art. XII, Sec. 3(i)

  • Number of votes, Councillors, Sched. D, par. 3(b), 5(b)

  • Number of votes, Governors, Art. XII, Sec. 2(e)

  • Number of votes, members, Art. XII, Sec. 5

  • Quorum for meetings of Board of Governors, Art. XII, Sec. 2(d)

  • Quorum for meetings of Executive Board, Art. XII, Sec. 3(h)

  • Special majorities; see 70 percent… ; 85 percent … ; Majority of total voting power . . . , above

  • Weighted voting, Art. XII, Sec. 2(e), 3(i), 5

  • Without meeting, Council, Sched. D, par. 5(c)

  • Without meeting, Governors, Art. XII, Sec. 2(f); Sched. D, par. 5(a)

Waiver of conditions governing use of general resources, Art. V, Sec. 4

Withdrawal from membership; see Members

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