Vote Smart's Synopsis:

Vote to pass a bill that requires the U.S. Executive Director at the International Monetary Fund (IMF) to use the voice and vote of the United States to advocate for increased exchange rate transparency from China.

Highlights:

• Requires the U.S. Executive Director at the International Monetary Fund (IMF) to use the voice and vote of the United States to advocate for increased exchange rate transparency from China (Sec. 2-3).

• Specifies that some areas of focus for this advocacy are (Sec. 2-3):

• Chinese exchange rate arrangements, including any indirect foreign exchange market intervention through Chinese financial institutions or state-owned enterprises;

• enhanced multilateral and bilateral surveillance by the IMF; and

• stronger consideration of China's performance as a responsible stakeholder in the international monetary system when evaluating quota and voting shares at the IMF.

• Specifies that the requirements of this bill shall expire 7 years and 30 days after the date of the bill's enactment or earlier if China meets certain conditions regarding its exchange rate policies (Sec. 4).

Full Bill Text

Full Bill Text