Bank Export Services Act

Summary

Bank Export Services Act - Amends the Bank Holding Company Act of 1956 to permit bank holding companies to invest in shares of any export trading company whose acquisition or formation by a bank holding company has been approved by the Board of Governors of the Federal Reserve System. Limits the investments in such shares to not more than five percent of the bank holding company's consolidated capital and surplus. Prohibits the name of the export trading company involved from being similar in any respect to the name of the bank holding company which owns any of its voting stock or other evidences of ownership. Amends the Federal Reserve Act to permit corporations organized for international or foreign banking, with the approval of the Board of Governors of the Federal Reserve System, to purchase and hold stock or other certificates of ownership in such an export trading company. Prohibits such an investment from exceeding 25 percent of the corporation's own capital and surplus. Permits an export trading company to engage in or hold shares of a company engaged in the business of underwriting, selling, or distributing securities in the United States only to the extent that the corporation may do so under applicable Federal and State banking law and regulations. Prohibits such an export trading company from engaging in manufacturing or agricultural production activities. Raises the ceiling on the aggregate amount of not-fully-secured acceptances which a depository institution and any Federal or State branch or agency of a foreign bank can create with respect to the importation, exportation, or domestic shipment of goods. Increases such limitation from one-half to 150 percent of the capital stock or, with the Federal Reserve Board's permission, twice the amount of the capital stock. Limits the aggregate acceptances growing out of domestic transactions to not more than 50 percent of the aggregate of all acceptances. States that such limitations do not apply to any acceptance which is issued by an institution and which is covered by a participation agreement from other banks or regulated corporations. Repeals the requirement that shipping documents be attached to acceptances arising from the domestic shipment of goods.

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

Timeline

1. 31 March 1982

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

2. 31 March 1982

   Introduced

   Introduced in House

   Source: IntroReferral

3. 31 March 1982

   Introduced

   Introduced in House

   Source: IntroReferral

4. 15 April 1982

   Referred

   Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.

   Source: Committee

5. 19 May 1982

   Committee

   Subcommittee Hearings Held.

   Source: Committee

6. 20 May 1982

   Committee

   Subcommittee Hearings Held.

   Source: Committee

7. 25 May 1982

   Committee

   Subcommittee Hearings Held.

   Source: Committee

8. 22 June 1982

   Committee

   Forwarded by Subcommittee to Full Committee (Amended).

   Source: Committee

9. 22 June 1982

   Committee

   Subcommittee Consideration and Mark-up Session Held.

   Source: Committee

10. 23 June 1982

    Reported

    Ordered to be Reported (Amended).

    Source: Committee

11. 23 June 1982

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

12. 1 July 1982

    Calendars

    Placed on Union Calendar No: 387.

    Source: Calendars

13. 1 July 1982

    Reported

    Reported to House (Amended) by House Committee on Banking, Finance and Urban Affairs. Report No: 97-629.

    Source: Committee

14. 1 July 1982

    Reported

    Reported to House (Amended) by House Committee on Banking, Finance and Urban Affairs. Report No: 97-629.

    Source: Committee

15. 27 July 1982

    Floor

    Laid on Table in House by Voice Vote.

    Source: Floor

16. 27 July 1982

    Passed

    Passed House (Amended) by Voice Vote.

    Source: Floor

17. 27 July 1982

    Passed

    Passed/agreed to in House: Passed House (Amended) by Voice Vote.

    Source: Floor

18. 27 July 1982

    Floor

    Called up by House Under Suspension of Rules.

    Source: Floor

Votes

No vote records are attached yet.

Versions

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

Documents

2 official files

• Reported to House with amendment(s)

  summary · EN · 1 July 1982

  Open at official source

• Introduced in House

  summary · EN · 31 March 1982

  Open at official source

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Sponsors

• Rep. St Germain, Fernand J. [D-RI-1] · D · Sponsor
• Rep. Reuss, Henry S. [D-WI-5] · D · Sponsor
• Rep. Minish, Joseph G. [D-NJ-11] · D · Sponsor
• Rep. Annunzio, Frank [D-IL-11] · D · Sponsor
• Del. Fauntroy, Walter E. [D-DC-At Large] · D · Sponsor
• Rep. Neal, Stephen L. [D-NC-5] · D · Sponsor
• Rep. Patterson, Jerry M. [D-CA-38] · D · Sponsor
• Rep. Blanchard, James [D-MI-18] · D · Sponsor
• Rep. LaFalce, John J. [D-NY-29] · D · Sponsor
• Rep. Evans, David W. [D-IN-6] · D · Sponsor
• Rep. D'Amours, Norman E. [D-NH-1] · D · Sponsor
• Rep. Oakar, Mary Rose [D-OH-20] · D · Sponsor
• Rep. Barnard, Doug, Jr. [D-GA-10] · D · Sponsor
• Rep. Lowry, Mike [D-WA-7] · D · Sponsor
• Sen. Schumer, Charles E. [D-NY] · D · Sponsor
• Rep. Frank, Barney [D-MA-4] · D · Sponsor
• Rep. Coyne, William J. [D-PA-14] · D · Sponsor
• Rep. Stanton, J. William [R-OH-11] · R · Sponsor
• Rep. McKinney, Stewart B. [R-CT-4] · R · Sponsor
• Rep. Leach, James A. [R-IA-2] · R · Sponsor
• Rep. Parris, Stanford E. (Stan) [R-VA-8] · R · Sponsor
• Rep. Wortley, George C. [R-NY-27] · R · Sponsor
• Rep. Lowery, Bill [R-CA-41] · R · Sponsor
• Rep. Coyne, James K. [R-PA-8] · R · Sponsor
• Rep. Bereuter, Doug [R-NE-1] · R · Sponsor
• Rep. Vento, Bruce F. [D-MN-4] · D · Cosponsor
• Rep. Hoyer, Steny H. [D-MD-5] · D · Cosponsor
• · hsba00 · Standing

Related records

• related to ← An original bill to encourage exports by facilitating the formation and operation of export trading companies, export trade associations, and the expansion of export trade services generally.