Export Trading Company Amendments of 1987

Summary

Export Trading Company Amendments of 1987 - Amends the Bank Holding Company Act of 1956 to set forth the following additional factors to be considered in determining whether a company is an "export trading company": (1) the operations of such company during the first two years shall not be taken into account in making such determination; (2) not less than four consecutive years of operations of such company (not including the first two years of operation) shall not be taken into account in such determination; and (3) fees derived from the facilitation, outside of the United States, of trade services shall be treated as revenue derived from exporting or facilitating exports to the extent the fees are remitted to the United States and the aggregate amount of such fees does not exceed one-half the amount of revenue derived from export operations or the facilitation of export services. Defines "facilitation of trade services." Prohibits the Board of Governors of the Federal Reserve System from disapproving a proposed investment solely on the basis of the proposed asset-to-equity ratio of the export trading company unless the proposed annual average ratio is greater than 15 to one. Prohibits the Board from establishing a maximum dollar limit on the value of goods which export trading companies may maintain in inventory. Authorizes the Board to establish a maximum dollar limit on the value of goods which an export trading company may maintain in inventory if the Board finds that such limitation is necessary to prevent risks that would affect the financial or managerial resources of an investor bank holding company.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 17 March 1987

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.