A bill entitled the "Foreign Primary Dealer and Bank National Treatment Act of 1987".

Summary

Expresses congressional findings, including that U.S. firms seeking to compete in Japan face discriminatory barriers which effectively preclude fair competition for Japanese business. Prohibits the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York from designating, or permitting continued designation of, any person of a foreign country as a primary dealer in Government debt instruments if U.S. companies are denied equal access in the acquisition of government debt instruments issued by such country. Allows exceptions to such requirement for countries involved in or negotiating bilateral agreements with the United States as of January 1, 1987. Amends the International Banking Act of 1978 to allow Federal banking agencies to deny any application or disapprove any notice by a foreign bank or bank holding company if the country in which such bank or bank holding company is chartered or incorporated does not accord to U.S. banks and holding companies equality of competitive opportunity with domestic banks and bank holding companies.

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Timeline

1. 28 April 1987

   Introduced

   Read twice and referred to the Committee on Banking.

   Source: IntroReferral

2. 28 April 1987

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 28 April 1987

  Open at official source

Sponsors

• Sen. Riegle, Donald W., Jr. [D-MI] · D · Sponsor
• Sen. Proxmire, William [D-WI] · D · Sponsor
• · ssbk00 · Standing

Related records

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