Congress should not permit the nation's policy on these important issues to be decided for it on a de facto basis through the expansion of a loophole that is available to only one type of institution chartered in a handful of states.
Increasingly however, as credit ratings become more widespread, central banks will be positioned to place their reserves in issues of highly rated developing country issues. This should lead to a situation where developing countries use their reserves to help each other without exposing their assets to too much risk.