Entities

Exchange Stabilization Fund

More About Exchange Stabilization Fund

  • Can be used by the US treasury to intervene in currency markets
  • Is not under congressional control
  • Can be used by the Treasury at its own discretion
  • Was used to bail out Mexico in 1994
  • ~40 Billion in Assets (2018) including SDRs
  • Can exchange SDRs with the US Fed to get US Currency


ESF History
  • Created during Gold Reserve Act of 1934
  • Funded from the gains realized when gold was revalued from $20.67 to $35 per ounce in 1933