Requesting the President to submit information to the House of Representatives concerning actions taken through the exchange stabilization fund to strengthen the Mexican peso and stabilize the economy of Mexico.

Summary

Requests the President, within 14 days of the adoption of this resolution, to provide to the House of Representatives any document concerning: (1) the assured source of repayment to the United States for any credit facility made available to Mexico after December 31, 1994; (2) the net worth and historical annual revenues of Pemex as well as the projected annual revenues for the five-year period beginning on this resolution's adoption date and the extent to which proceeds from the sale of Mexican oil to customers are required to be paid to Mexico as taxes or payments in lieu of taxes or have been pledged as collateral for the repayment of loans or credit extended to Mexico or Pemex (other than credit facilities described in (1)); (3) the value of any oil the proceeds from the sale of which are pledged to assure the repayment of assistance provided by the United States and the manner in which the United States may exercise rights to obtain such proceeds as repayment for losses incurred; (4) assurances given by the Mexican Government with respect to changes in economic policies; (5) the decision by the President to use the assets of the exchange stabilization fund (fund) in connection with credit facilities described in (1) above; (6) criteria used in making any decision to use such assets to respond to any economic, balance of payments, or exchange crisis in any country and the facts on which such determinations were made with respect to Poland in 1989 and to Mexico in 1994 and 1995; (7) how the use of such assets as a source of credit to Mexico compares with all prior uses since 1945 for all other countries with regard to dollar amount, type, purpose, and duration of transaction, security or collateral pledged, and the existence of any agreement involving the International Monetary Fund (IMF) or the Federal Reserve System; (8) outstanding debts owed by the Mexican Government to U.S. creditors; (9) an accounting of all the fund flows through the fund for the 24-month period preceding the date of adoption of this resolution; (10) the balance of available assets in the fund; (11) the amount by which the total extensions of credit that will be made available to Mexico exceeds available assets in the fund and the means for covering any shortfall; (12) the departure of the IMF from its customary guidelines for country assistance; (13) the factual circumstances pursuant to which the Bank for International Settlements has become a lender to individual countries beyond the Bank's role as a clearinghouse for central banks; (14) the financial obligations of the Federal Reserve to the Bank; (15) the relationship among the Federal Reserve, the Bank, and central banks of other countries affiliated with the Bank with regard to assigning the ultimate liability for loss incurred in connection with the extension of credit to Mexico; (16) any meeting between the President and Members of Congress concerning the President's proposed actions to strengthen the Mexican peso and support economic stability in Mexico; and (17) any discrepancy between the amount the President announced is available in the fund and the amount shown as being available in the monthly statement of the public debt of the United States on December 31, 1994.

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

Timeline

1. 10 February 1995

   Introduced

   Referred to the House Committee on Banking and Financial Services.

   Source: IntroReferral

2. 10 February 1995

   Introduced

   Sponsor introductory remarks on measure. (CR H1561)

   Source: IntroReferral

3. 10 February 1995

   Introduced

   Introduced in House

   Source: IntroReferral

4. 10 February 1995

   Introduced

   Introduced in House

   Source: IntroReferral

5. 23 February 1995

   Vote

   Ordered to be Reported (Amended) by the Yeas and Nays: 37 - 5.

   Source: Committee

6. 23 February 1995

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

7. 27 February 1995

   Calendars

   Placed on the House Calendar, Calendar No. 24.

   Source: Calendars

8. 27 February 1995

   Reported

   Reported (Amended) by the Committee on Banking and Financial Services. H. Rept. 104-53.

   Source: Committee

9. 27 February 1995

   Reported

   Reported (Amended) by the Committee on Banking and Financial Services. H. Rept. 104-53.

   Source: Committee

10. 28 February 1995

    Passed

    Mr. Armey asked unanimous consent that the three day layover requirement be waived with respect to the consideration of any report filed on the resolution. Agreed to without objection.

    Source: Floor

11. 1 March 1995

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

12. 1 March 1995

    Vote

    On agreeing to the resolution Agreed to by recorded vote: 407 - 21 (Roll no. 188).

    Source: Floor

13. 1 March 1995

    Vote

    Passed/agreed to in House: On agreeing to the resolution Agreed to by recorded vote: 407 - 21 (Roll no. 188).

    Source: Floor

14. 1 March 1995

    Floor

    The previous question was ordered without objection.

    Source: Floor

15. 1 March 1995

    Floor

    DEBATE - The House proceeded with one hour of debate.

    Source: Floor

16. 1 March 1995

    Floor

    Considered under previous order of the House. (consideration: CR H2444-2458)

    Source: Floor

17. 1 March 1995

    Floor

    Consideration initiated by previous order of the House.

    Source: Floor

18. 1 March 1995

    Introduced

    Sponsor introductory remarks on measure. (CR H2401)

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Engrossed in House · 1 March 1995 · Official file
• Reported in House · 27 February 1995 · Official file
• Introduced in House · 10 February 1995 · Official file

Documents

8 official files

• Engrossed in House (text)

  Engrossed in House · EN · 1 March 1995

  ViewDownloadOpen at official source

• Engrossed in House (PDF)

  Engrossed in House · EN · 1 March 1995

  ViewDownloadOpen at official source

• Passed House amended

  summary · EN · 1 March 1995

  Open at official source

• Reported in House (text)

  Reported in House · EN · 27 February 1995

  ViewDownloadOpen at official source

• Reported in House (PDF)

  Reported in House · EN · 27 February 1995

  ViewDownloadOpen at official source

• Introduced in House (text)

  Introduced in House · EN · 10 February 1995

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 10 February 1995

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 10 February 1995

  Open at official source

Sponsors

• Marcy Kaptur · D · Sponsor
• Rep. Abercrombie, Neil [D-HI-1] · D · Sponsor
• PETER DEFAZIO · D · Sponsor
• Rep. Evans, Lane [D-IL-17] · D · Sponsor
• Rep. Hunter, Duncan [R-CA-45] · R · Sponsor
• Rep. Klink, Ron [D-PA-4] · D · Sponsor
• Rep. Lipinski, William O. [D-IL-5] · D · Sponsor
• DANA ROHRABACHER · R · Sponsor
• Bernie Sanders · I · Sponsor
• Rep. Taylor, Gene [D-MS-5] · D · Sponsor
• Rep. Thurman, Karen L. [D-FL-5] · D · Sponsor
• PETER VISCLOSKY · D · Sponsor
• Rep. Danner, Pat [D-MO-6] · D · Sponsor
• Rep. Chenoweth-Hage, Helen [R-ID-1] · R · Cosponsor
• JOHN DUNCAN · R · Cosponsor
• Rep. Mink, Patsy T. [D-HI-2] · D · Cosponsor
• Sen. Talent, Jim [R-MO] · R · Cosponsor
• Rep. Traficant, James A., Jr. [D-OH-17] · D · Cosponsor
• Rep. Stearns, Cliff [R-FL-6] · R · Cosponsor
• Rep. Burton, Dan [R-IN-6] · R · Cosponsor
• Rep. Myers, John T. [R-IN-7] · R · Cosponsor
• Sen. Hutchinson, Tim [R-AR] · R · Cosponsor
• Rep. Baker, Bill [R-CA-10] · R · Cosponsor
• Rep. Dornan, Robert K. [R-CA-38] · R · Cosponsor
• Rep. Kingston, Jack [R-GA-1] · R · Cosponsor
• Rep. Dellums, Ronald V. [D-CA-8] · D · Cosponsor
• Rep. Funderburk, David [R-NC-2] · R · Cosponsor
• Rep. Foley, Mark [R-FL-16] · R · Cosponsor
• Rep. Filner, Bob [D-CA-51] · D · Cosponsor
• Rep. Gordon, Bart [D-TN-6] · D · Cosponsor
• Rep. Holden, Tim [D-PA-17] · D · Cosponsor
• Sen. Brown, Sherrod [D-OH] · D · Cosponsor
• · hsba00 · Standing

Related records

• related to → To express the sense of the Congress that the Secretary of the Treasury should submit monthly reports to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Banking and Financial Services of the House of Representatives concerning compliance by the Government of Mexico regarding certain loans, loan guarantees, and other assistance made by the United States to the Government of Mexico.