Chinese Currency Accountability Act of 2023
This bill requires the United States to oppose, absent specified conditions, any increase in the weight of Chinese currency (i.e., the renminbi) in the basket of currencies (currently, a set of five currencies, each with different weightings) used to determine the value of Special Drawing Rights. Special Drawing Rights are a currency support tool available to members of the International Monetary Fund (IMF).
Specifically, the Department of the Treasury must instruct certain U.S. officials at the IMF to oppose any such increase unless Treasury has certified that (1) China is in compliance with all general obligations of members of the IMF, (2) China has not been found to have manipulated its currency in the preceding 12 months, and (3) China is implementing policies and practices necessary to ensure that the renminbi is freely usable.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2024-09-10 | IntroReferral | Received in the Senate and Read twice and referred to the Committee on Foreign Relations. | Senate |
| 2024-09-09 | Floor | Motion to reconsider laid on the table Agreed to without objection. | House floor actions |
| 2024-09-09 | Floor | On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5041) | House floor actions |
| 2024-09-09 | Floor | DEBATE - The House proceeded with forty minutes of debate on H.R. 510. | House floor actions |
| 2024-09-09 | Floor | Considered under suspension of the rules. (consideration: CR H5041-5042) | House floor actions |
| 2024-09-09 | Floor | Mrs. Kim (CA) moved to suspend the rules and pass the bill, as amended. | House floor actions |
| 2023-12-01 | Calendars | Placed on the Union Calendar, Calendar No. 238. | House floor actions |
| 2023-12-01 | Committee | Reported (Amended) by the Committee on Financial Services. H. Rept. 118-294. | House floor actions |
| 2023-02-28 | Committee | Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 40 - 0. | House committee actions |
| 2023-02-28 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2023-01-25 | IntroReferral | Referred to the House Committee on Financial Services. | House floor actions |
| 2023-01-25 | IntroReferral | Introduced in House | Library of Congress |