Reserve Tranche

Member countries of the International Monetary Fund (IMF) have a reserve
tranche position to the extent that their quotas exceed the IMF's holdings
of its currency in the General Resources Account, excluding holdings
arising out of purchases made by the member under all policies on the use
of the IMF's general resources. A member may purchase up to the full
amount of its reserve tranche at any time, subject only to the requirement
of balance of payments need. A reserve tranche position does not
constitute a use of IMF credit and is not subject to charges or to an
expectation or obligation to repurchase.