U.S. Congress - H.R.2886 Japan Currency Manipulation Act
H.R.2886 - Japan Currency Manipulation Act
To address the exchange-rate misalignment of the Japanese yen with respect to the United States dollar, and for other purposes. view all titles (2)
All Bill Titles
- Official: To address the exchange-rate misalignment of the Japanese yen with respect to the United States dollar, and for other purposes. as introduced.
- Short: Japan Currency Manipulation Act as introduced.
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Official Summary
6/27/2007--Introduced.Japan Currency Manipulation Act - Directs the Secretary of the Treasury to report to Congress on: (1) currency intervention by Japan with respect to the rate of exchange of the Japanese yen and the U.S. dollar and other currencies since 2000; and (2) any effort by JapOfficial Summary
6/27/2007--Introduced.Japan Currency Manipulation Act - Directs the Secretary of the Treasury to report to Congress on:
(1) currency intervention by Japan with respect to the rate of exchange of the Japanese yen and the U.S. dollar and other currencies since 2000; and
(2) any effort by Japan to create an exchange-rate misalignment of the Japanese yen with respect to the U.S. dollar and other currencies since March 2004. Requires the Secretary to submit to Congress a proposal for a comprehensive joint U.S.-European Union plan to address the exchange-rate misalignment of the Japanese yen with respect to the U.S. dollar and other currencies. Directs the Secretary to:
(1) initiate consultations with Japan to decrease Japan's foreign currency reserve holdings to permit effective balance of payments adjustments and to eliminate its unfair competitive advantage in international trade; and
(2) take appropriate action to dissuade, prevent, or object to currency intervention by Japan. Directs the United States to call for the convening of a special meeting of the International Monetary Fund (IMF) to reach a multilateral agreement regarding:
(1) the exchange-rate misalignment of the Japanese yen with respect to the U.S. dollar and other currencies;
(2) the destabilizing effects of the exchange-rate misalignment of the Japanese yen; and
(3) Japan's excessive foreign currency reserve holdings. Directs the Secretary to report to Congress on:
(1) progress made toward decreasing Japan's foreign currency reserve holdings; and
(2) actions taken at meetings of the G-7 Leaders, G-7 Finance Ministers, and the IMF regarding the exchange-rate misalignment of the Japanese yen with respect to the U.S. dollar and other currencies, including any progress toward eliminating such misalignment.
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Recent Blog Coverage
Japan's Currency Intervention: Policy Issues: Open CRS Network ...
In the 110th Congress, H.R. 2886 (Knollenberg)/S. 1021(Stabenow) (Japan Currency Manipulation Act), H.R. 782 (Tim Ryan)/S. 796 (Bunning) (Fair Currency Act of 2007), S. 1677 (Dodd) (Currency Reform and Financial Markets Access Act of ...
US FX Morning Note - Street Views
Elsewhere Morgan Stanleys Robert Alan Feldman picks up on the introduction of bill HR 2886 by Congressman Knollenberg, that explicitly seeks to pressure the Japanese MoF into selling excess reserves (thereby allowing the yen to ...
Bill Action: Introduced: HR 2886: To address the exchange-rate ...
Joseph Knollenberg [R-MI] introduced HR 2886: To address the exchange-rate misalignment of the Japanese yen with respect to the United States dollar, and for other purposes. [This event matched these monitors: Active Legislation ]
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