Selected Decisions and Selected Documents of the IMF, Thirty- Eighth Issue -- Official Clearing and Payments Arrangements—Temporary Exemption from Three-Month Rule

Prepared by the Legal Department of the IMF
As updated as of February 29, 2016

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ARTICLE VIII AND ARTICLE XIV
Payments Restrictions

OFFICIAL CLEARING AND PAYMENTS ARRANGEMENTS—TEMPORARY EXEMPTION FROM THREE-MONTH RULE

Pending completion of the forthcoming review of the jurisdictional aspects of official clearing and payments arrangements, the Fund shall not object to the maintenance in existing official clearing or payments arrangements of settlement provisions that do not require the settlement of balances at least as frequently as every three months if such provisions were in force before July 1, 1994.

Decision No. 10749-(94/67),

July 20, 1994

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