CIS Microfiche Library 1970-2002 (CIS Asia Pacific Collection)

 CIS NO: 70-H241-8
 TITLE: U.S. Participation in Asian Development Bank, International Monetary
     Fund, and International Bank for Reconstruction and Development.
 SOURCE: Committee on Banking, Finance, and Urban Affairs. House
 DOC TYPE: Hearing                   COLLATION: iv+305 p. il.
 DATE: Apr. 16, 17, 1970
 CONGRESS-SESSION: 91-2              SUDOC: Y4.B22/1:As4/2
 ITEM NO: 1013
 LC CARD NO: 75-607112               MC ENTRY NO: 8280(70)

 Hearings on H.R. 16891 (text, p. 2-4), and related bills H.R. 16641 and
 H.R. 16764, to authorize the United States to participate in increases in
 the resources of the Asian Development Bank, the International Monetary
 Fund, and the International Bank for Reconstruction and Development; to
 provide for an annual audit of the Exchange Stabilization Fund; and to amend
 the Gold Reserves Act. Supplementary materials include submitted statements,
 correspondence, tables, charts, and:
 a. National Advisory Council on International Monetary and Financial
     Policies, "Proposed U.S. Contribution to the Consolidated Special Funds
     of the Asian Development Bank," special report to the President, Jan.
     1970 (p. 7-77).
 b. National Advisory Council on International Monetary and Financial
     Policies, "Increases in the Resources of the International Monetary Fund
     and the International Bank for Reconstruction and Development," special
     report to the President, Mar. 1970 (p. 77-149).
 CONTENT NOTATION: U.S. participation in international financial
     institutions
 DESCRIPTORS: INTERNATIONAL.FINANCE; NATIONAL ADVISORY COUNCIL ON
     INTERNATIONAL MONETARY AND FINANCIAL POLICIES; ASIAN DEVELOPMENT BANK;
     INTERNATIONAL MONETARY FUND; INTERNATIONAL BANK FOR RECONSTRUCTION AND
     DEVELOPMENT; EXCHANGE STABILIZATION FUND; GOLD RESERVE ACT
 BILLS: 91 H.R.16891; 91 H.R.16641; 91 H.R.16764

 70-H241-8 TESTIMONY NO: 1          Apr. 16, 1970 p. 150-272
 WITNESSES (and witness notations):
     KENNEDY, DAVID M. (Secretary of the Treasury); accompanied by
        VOLCKER, PAUL A. (Under Secretary) and ZAGORIN, BERNARD
        (ambassador; executive director to the Asian Development Bank)
 STATEMENT AND DISCUSSION: Support for U.S. participation in strengthening
     Asian Development Bank as a multilateral regional institution;
     background on proposals to increase quotas; measures to protect U.S.
     reserves; and limitation of Special Drawing Rights. Discussion of U.S.
     International financial policy; need for GAO audit of Exchange
     Stabilization Fund; salary and investment practices of the Asian
     Development Bank; and Treasury Department relations with international
     banks and Congress.
 INSERTIONS: Department of the Treasury Exchange Stabilization Fund audit,
     FY69 (p. 163-200).
       Department of the Treasury, "Purchase of Residence in Tokyo for
     Financial Attache from Exchange Stabilization Fund," report by the
     Comptroller General, June 1965 (p. 201-245).
       Asian Development Bank: Status of Loans Approved as of Apr. 15, 1970,
     table and explanation (p. 248-252).
 CONTENT NOTATION: U.S. participation in international financial
     institutions
 DESCRIPTORS: DEPARTMENT.OF.TREASURY; SPECIAL DRAWING RIGHTS

 70-H241-8 TESTIMONY NO: 2          Apr. 17, 1970 p. 273-300
 WITNESSES (and witness notations):
     DANIELIAN, N. R. (president, International Economic Policy
        Association); accompanied by DANIELIAN, RONALD (associate
        economist)
 STATEMENT AND DISCUSSION: Support for bills with reservations; analysis of
     growing emphasis on international financial institutions; impact of
     quota increases on U.S. future financial position; adequacy of
     International Monetary Fund quota increase; responsibility of Congress
     to guide U.S. international banking policies; audit of Stabilization
     Fund; Treasury Department's gold purchases.
 INSERTIONS: Private and Government sectors in U.S. balance of payments,
     1962-1969, table (p. 294).
       Statement of Douglas Dillon, former Secretary of the Treasury, excerpt
     from 1964 hearings (p. 284-289).
 CONTENT NOTATION: U.S. participation in international financial
     institutions
 DESCRIPTORS: INTERNATIONAL ECONOMIC POLICY ASSOCIATION