--- kind: "section" citation: "19 U.S.C. § 4422" title: "19" title_heading: "Customs Duties" number: "4422" heading: "Advisory Committee on International Exchange Rate Policy" release: "119-102" url: "https://uscodex.org/usc/19/4422" units: - "Chapter 28 — Trade Facilitation and Trade Enforcement" - "Subchapter VI — Engagement on Currency Exchange Rate and Economic Policies" --- # §4422. Advisory Committee on International Exchange Rate Policy - (a) **Establishment—** - (1) **In general—** There is established an Advisory [Committee](/usc/19/2601.md?p=3) on International Exchange Rate Policy (in this section referred to as the “[Committee](/usc/19/2601.md?p=3)”). - (2) **Duties—** The [Committee](/usc/19/2601.md?p=3) shall be responsible for advising the Secretary of the Treasury with respect to the impact of international exchange rates and financial policies on the economy of the United States. - (b) **Membership—** - (1) **In general—** The [Committee](/usc/19/2601.md?p=3) shall be composed of 9 [members](/usc/19/2571.md?p=8) as follows, none of whom shall be employees of the Federal Government: - (A) Three [members](/usc/19/2571.md?p=8) shall be appointed by the President pro tempore of the Senate, upon the recommendation of the chairmen and ranking [members](/usc/19/2571.md?p=8) of the [Committee](/usc/19/2601.md?p=3) on Banking, Housing, and Urban Affairs and the [Committee](/usc/19/2601.md?p=3) on Finance of the Senate. - (B) Three [members](/usc/19/2571.md?p=8) shall be appointed by the Speaker of the House of Representatives, upon the recommendation of the chairmen and ranking [members](/usc/19/2571.md?p=8) of the [Committee](/usc/19/2601.md?p=3) on Financial Services and the [Committee](/usc/19/2601.md?p=3) on Ways and Means of the House of Representatives. - (C) Three [members](/usc/19/2571.md?p=8) shall be appointed by the President. - (2) **Qualifications—** [Members](/usc/19/2571.md?p=8) shall be selected under [paragraph (1)](#b-1) on the basis of their objectivity and demonstrated expertise in finance, economics, or currency exchange. - (3) **Terms—** - (A) **In general—** [Members](/usc/19/2571.md?p=8) shall be appointed for a term of 2 years or until the [Committee](/usc/19/2601.md?p=3) terminates. - (B) **Reappointment—** A [member](/usc/19/2571.md?p=8) may be reappointed to the [Committee](/usc/19/2601.md?p=3) for additional terms. - (4) **Vacancies—** Any vacancy in the [Committee](/usc/19/2601.md?p=3) shall not affect its powers, but shall be filled in the same manner as the original appointment. - (c) **Duration of Committee—** - (1) **In general—** The [Committee](/usc/19/2601.md?p=3) shall terminate on the date that is 2 years after February 24, 2016, unless renewed by the President for a subsequent 2-year period. - (2) **Continued renewal—** The President may continue to renew the [Committee](/usc/19/2601.md?p=3) for successive 2-year periods by taking appropriate action to renew the [Committee](/usc/19/2601.md?p=3) prior to the date on which the [Committee](/usc/19/2601.md?p=3) would otherwise terminate. - (d) **Meetings—** The [Committee](/usc/19/2601.md?p=3) shall hold not fewer than 2 meetings each calendar year. - (e) **Chairperson—** - (1) **In general—** The [Committee](/usc/19/2601.md?p=3) shall elect from among its [members](/usc/19/2571.md?p=8) a chairperson for a term of 2 years or until the [Committee](/usc/19/2601.md?p=3) terminates. - (2) **Reelection; subsequent terms—** A chairperson of the [Committee](/usc/19/2601.md?p=3) may be reelected chairperson but is ineligible to serve consecutive terms as chairperson. - (f) **Staff—** The Secretary of the Treasury shall make available to the [Committee](/usc/19/2601.md?p=3) such staff, information, personnel, administrative services, and assistance as the [Committee](/usc/19/2601.md?p=3) may reasonably require to carry out the activities of the [Committee](/usc/19/2601.md?p=3). - (g) **Application of chapter 10 of title 5—** - (1) **In general—** Except as provided in [paragraph (2)](#g-2), the provisions of [chapter 10](/usc/5/chptI-ch10.md) of title 5 shall apply to the [Committee](/usc/19/2601.md?p=3). - (2) **Exception—** Meetings of the [Committee](/usc/19/2601.md?p=3) shall be exempt from the requirements of subsections (a) and (b) of section 1009 and [section 1010 of title 5](/usc/5/1010.md) (relating to open meetings, public notice, public participation, and public availability of documents), whenever and to the extent it is determined by the President or the Secretary of the Treasury that such meetings will be concerned with matters the disclosure of which— - (A) would seriously compromise the development by the Government of the United States of monetary or financial policy; or - (B) is likely to— - (i) lead to significant financial speculation in currencies, securities, or commodities; or - (ii) significantly endanger the stability of any financial institution. - (h) **Authorization of appropriations—** There are authorized to be appropriated to the Secretary of the Treasury for each fiscal year in which the [Committee](/usc/19/2601.md?p=3) is in effect $1,000,000 to carry out this section. ## Source credit (Pub. L. 114–125, title VII, § 702, Feb. 24, 2016, 130 Stat. 198; Pub. L. 117–286, § 4(a)(144), Dec. 27, 2022, 136 Stat. 4321.) ## Notes ### Editorial Notes ### Amendments 2022—Subsec. (g). Pub. L. 117–286, § 4(a)(144)(A), substituted “chapter 10 of title 5” for “the Federal Advisory Committee Act” in heading. Subsec. (g)(1). Pub. L. 117–286, § 4(a)(144)(B), substituted “chapter 10 of title 5” for “the Federal Advisory Committee Act (5 U.S.C. App.)”. Subsec. (g)(2). Pub. L. 117–286, § 4(a)(144)(C), substituted “section 1009 and section 1010 of title 5” for “section 10 and section 11 of the Federal Advisory Committee Act” in introductory provisions.