Page:United States Statutes at Large Volume 109 Part 1.djvu/107

 PUBLIC LAW 104-6—APR. 10, 1995 109 STAT. 91 to Mexico from the exchange stabihzation fund or proceeds of Mexican Government securities guaranteed by the exchange stabihzation fund. (6) All outstanding guarantees issued to, and short-term and medium-term currency swaps with, the Government of Mexico by the Secretary of the Treasury, set forth by category of financing. (7) All outstanding currency swaps with the central bank of Mexico by the Board of Governors of the Federal Reserve System and the rationale for, and any expected costs of, such transactions. (8) The amount of payments made by customers of Mexican petroleum companies that have been deposited in the account at the Federal Reserve Bank of New York established to ensure repayment of any payment by the United States Government, including the Board of Governors of the Federal Reserve System, in connection with any guarantee issued to, or any swap with, the Government of Mexico. (9) Any setoff by the Federal Reserve Bank of New York against funds in the account described in paragraph (8). (10) To the extent such information is available, once there has been a setoff by the Federal Reserve Bank of New York, any interruption in deliveries of petroleum products to existing customers whose payments were setoff. (11) The interest rates and fees charged to compensate the Secretary of the Treasury for the risk of providing financing. SEC. 405. TERMINATION OF REPORTING REQUIREMENTS. The requirements of sections 403 and 404 shall terminate on the date that the Government of Mexico has paid all obligations with respect to swap facilities and guarantees of securities made available under the program approved by the President on January 31, 1995. SEC. 406. PRESIDENTIAL CERTIFICATION REGARDING SWAP OF CUR- RENCIES TO MEXICO THROUGH EXCHANGE STABILIZA- TION FUND OR FEDERAL RESERVE. (a) IN GENERAL.— Notwithstanding any other provision of law, no loan, credit, guarantee, or arrangement for a swap of currencies to Mexico through the exchange stabilization fund or by the Board of Governors of the Federal Reserve System may be extended or (if already extended) further utilized, unless and until the President submits to the appropriate congressional committees a certification that— (1) there is no projected cost (as defined in the Credit Reform Act of 1990) to the United States from the proposed loan, credit, guarantee, or currency swap; (2) all loans, credits, guarantees, and currency swaps are adequately backed to ensure that all United States funds are repaid; (3) the Government of Mexico is making progress in ensuring an independent central bank or an independent currency control mechanism; (4) Mexico has in effect a significant economic reform effort; and (5) the President has provided the documents described in paragraphs (1) through (28) of House Resolution 80, adopted March 1, 1995.

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