,i  #aag? ,,congress  #b;d ,session  ,h4
 ,r4 #hdhd  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,july #ba1 #bjbb,ms4  
,wat]s introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to accord         
securities issu$ by ! ,int]national     
,developm5t ,association ! same         
exemption f ! securities laws t applies 
to ! securities ( o!r multilat]al       
developm5t banks 9 :i* ! ,unit$ ,/ates  
is a memb]4  #a4 ,%ort title ,?is ,act  
may be cit$ z ! ,align+ ,,sec           
,regulations = ! ,_w ,bank's            
,int]national ,developm5t ,association  
,act4  #b4 ,exemption ( securities ( !  
,int]national ,developm5t ,association f
 ! securities laws  7a7 ,9 g5]al ,!     
,int]national ,developm5t ,association  
,act 7#bb ,u4,s4,c4 #bhd-bhd;cc7 is     
am5d$ by add+ at ! end ! foll[+3  #cb4  
,exemption f securities laws2 reports   
requir$  7a7 ,exemption f securities    
laws2 reports to ,securities & ,ex*ange 
,commission ,any securities issu$ by !  

,association 7includ+ any gu>anty by !  
,association1 :e!r or n limit$ 9 scope7 
& any securities gu>ante$ by !          
,association z to bo? pr9cipal & int]e/ 
%all be deem$ to be exempt$ securities  
)9 ! mean+ ( section #c7;a77#b ( !      
,securities ,act ( #aicc 7#ae ,u4,s4,c4 
#gg;c7a77#b77 & section #c7;a77#ab7 ( ! 
,securities ,ex*ange ,act ( #aicd 7#ae  
,u4,s4,c4 #gh;c7a77#ab774 ,!            
,association %all file ) ! ,securities &
 ,ex*ange ,commission su* annual & o!r  
reports ) reg>d to su* securities z !   
,commission %all det]m9e to be          
appropriate 9 view ( ! special "* ( !   
,association & its op]ations & necess>y 
9 ! public int]e/ or = ! protection (   
inve/ors4  7b7 ,au?ority ( ,securities &
 ,ex*ange ,commission ,to susp5d        
exemption2 reports to ,congress ,!      
,securities & ,ex*ange ,commission1 act+
 9 consultation ) ! ,national ,advisory 
,c\ncil on ,int]national ,monet>y &     
,f9ancial ,problems1 is au?oriz$ to     
susp5d ! provisions ( subsection 7a7 (  

?is section at any "t z to any or all   
securities issu$ or gu>ante$ by !       
,association dur+ ! p]iod ( su*         
susp5sion4 ,! ,commission %all include 9
 its annual reports to ! ,congress su*  
in=mation z x %all deem advisable )     
reg>d to ! op]ations & effect ( ?is     
section4  4  7b7 ,effective date ,!     
am5dm5t made by subsection 7a7 %all take
 effect #cj days aft] ! date ( !        
enactm5t ( ?is ,act4