H.R. 510 would direct the Secretary of the Treasury to require the U.S. representatives at the International Monetary Fund (IMF) to oppose any increase in the weight of the Chinese renminbi used to determine the value of Special Drawing Rights (SDR). SDR are an international reserve asset of the IMF that are distributed to each member country. That requirement could be waived if the Secretary of the Treasury reports to the Congress that the People’s Republic of China is complying with certain standards and international agreements.
