A bill to amend the Bank Holding Company Act of 1956 with regard to export trading companies.

Summary

Amends the Bank Holding Company Act of 1956 to redefine "export trading company" to include third-country trade revenues as export revenue. Amends the Federal Reserve Act to exempt from affiliate-loan restrictions covered under such Act transactions with an affiliate which is an export trading company as defined above. Prohibits the Board of Governors of the Federal Reserve System from disapproving a proposed investment solely because of the proposed assets-to-equity ratio of an export trading company unless such ratio is greater than 25-to-one. Prohibits the Board from imposing a dollar limit on the amount of goods an export trading company may maintain in inventory, except under specified circumstances (such as such action being found necessary to prevent unduly burdensome risks being borne by the investor bank holding company). Amends the Export Trading Company Act of 1982 to require an applicant for a certificate of review (authorizing the applicant to engage in export trade activities) to state in such application the members seeking export trade protection under the certificate. Defines "applicant" for purposes of the issuance of such certificates. Requires a certificate of review to be issued to any applicant that establishes that its specific export trade activities and methods of operation will not result in a substantial lessening of competition or restraint of trade within the United States. Revises provisions relating to the admissibility of evidence in a proceeding requested because the Secretary of Commerce has denied an application to issue a certificate of review. Protects any member named in an issued certificate of review from a civil or criminal action brought under the antitrust laws. Revises the definition of "export trade" and defines the term "member" under the Export Trading Company Act of 1982 to mean any entity or person that is seeking protection under the certificate application. Expresses certain findings of the Congress concerning the need for an export promotion data system. Directs the Secretary of Commerce to develop and maintain an export promotion data system which performs specified functions and contains industrial and foreign market data. Requires such system to use the most effective means of disseminating data and information electronically through the Department of Commerce, and to monitor, organize, and disseminate specified information concerning U.S. export of goods and services and information on foreign countries involved in such exports. Requires a report to the Congress within six months after the enactment of this Act concerning the implementation of these provisions. Directs the Secretary to study the collection of trade-related data by the United States, and whether such information can be effectively disseminated to other sources. Directs the Secretary to consult with specified sources and departments in conducting such study. Specifies various types of data which are to be considered "trade-related data" by the Secretary in conducting such study. Requires each Federal department to cooperate fully with the Secretary in providing requested information concerning such study. Directs the Secretary, within 18 months after the enactment of this Act, to report the findings and recommendations resulting from such study to the Senate Finance Committee and the House Ways and Means Committee.

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Timeline

1. 3 March 1987

   Introduced

   Read twice and referred to the Committee on Banking.

   Source: IntroReferral

2. 3 March 1987

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 3 March 1987

  Open at official source

Sponsors

• Sen. Heinz, John [R-PA] · R · Sponsor
• Sen. Garn, E. J. (Jake) [R-UT] · R · Sponsor
• · ssbk00 · Standing

Related records

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