HR 386
Passed a chamber
Requires the U.S. Governor and Executive Director at the International Monetary Fund to vote against increasing the weight of the Chinese renminbi in the IMF's Special Drawing Rights basket, unless the Treasury Secretary certifies that China meets specified conditions.
Official title: Chinese Currency Accountability Act of 2025
Timeline each lane is a chamber; dates pull from congress.gov actions
House
Introduced
14-JAN-2025
Referred
14-JAN-2025
Passed
10-FEB-2025
Senate
Received
11-FEB-2025
- Directs the Treasury Secretary to instruct U.S. IMF officials to oppose any increase in the renminbi's weight in the Special Drawing Rights basket
- Allows an exception only if the Treasury Secretary submits a written certification to House and Senate committees that China complies with IMF Article VIII obligations, has not been found to manipulate its currency in the preceding 12 months, and adheres to Paris Club and OECD export credit rules
- Ends the opposition requirement 10 years after enactment
Covers an older version. The newest CRS summary describes the bill as of "Introduced in House" (14-JAN-2025); the text has changed since (Engrossed in House, 10-FEB-2025).
CRS is the Library of Congress's nonpartisan research office. Read it on congress.gov- Financial Services Committee (House)
- Foreign Relations Committee (Senate)
Foreign Trade and International Finance
■ 1 R
1 Republican