Delegation of Functions Under 31 U.S.C. 5302

[Federal Register Volume 85, Number 58 (Wednesday, March 25, 2020)]
[Presidential Documents]
[Pages 16995-16996]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-06398]

Vol. 85

Wednesday,

No. 58

March 25, 2020

Part II

The President

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Memorandum of March 20, 2020--Delegation of Functions Under 31 U.S.C.
5302

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Title 3--
The President

Memorandum of March 20, 2020

Delegation of Functions Under 31 U.S.C. 5302

Memorandum for the Secretary of the Treasury

By the authority vested in me as President by the
Constitution and the laws of the United States of
America, including section 301 of title 3, United
States Code, it is hereby ordered as follows:

Section 1. Delegation of Authority over the Exchange
Stabilization Fund. (a) I hereby delegate the functions
and authorities conferred upon the President by section
5302 of title 31, United States Code, to the Secretary
of the Treasury for use of the Exchange Stabilization
Fund in an aggregate amount of up to $50 billion.

(b) The functions and authorities delegated by this
section may not be redelegated.

Sec. 2. General Provisions. (a) Nothing in this
memorandum shall be construed to impair or otherwise
affect:

(i) the authority granted by law to an executive department or agency, or
the head thereof; or

(ii) the functions of the Director of the Office of Management and Budget
relating to budgetary, administrative, or legislative proposals.

(b) This memorandum shall be implemented consistent
with applicable law and subject to the availability of
appropriations.
(c) This memorandum is not intended to, and does
not, create any right or benefit, substantive or
procedural, enforceable at law or in equity by any
party against the United States, its departments,
agencies, or entities, its officers, employees, or
agents, or any other person.

(d) You are authorized and directed to publish this
memorandum in the Federal Register.

THE WHITE HOUSE,

Washington, March 20, 2020