H.R.1431 - Export Trading Company Amendments Act of 1987100th Congress (1987-1988)
|Sponsor:||Rep. Bonker, Don [D-WA-3] (Introduced 03/05/1987)|
|Committees:||House - Banking, Finance, and Urban Affairs; Foreign Affairs; Judiciary|
|Latest Action:||House - 03/31/1987 Referred to Subcommittee on Monopolies and Commercial Law. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1431 — 100th Congress (1987-1988)All Information (Except Text)
Introduced in House (03/05/1987)
Export Trading Company Amendments Act of 1987 - Amends the Export Trading Company Act of 1982 to require the Secretary of Commerce, not later than one year after enactment of this Act and annually thereafter, to submit a report to the Congress on Department of Commerce activities to promote the formation of export trade associations and export trading companies. Requires the report to include a survey of the activities of export management companies and export trade associations, as well as an analysis of the operating experiences of those export trading companies established under this Act.
Amends the Bank Holding Company Act of 1956 to revise the definition of "export trading company."
Amends the Federal Reserve Act to exempt transactions of export trading companies with their affiliates from provisions of the Act relating to bank restrictions on loans and other transactions with affiliates.
Amends the Bank Holding Company Act of 1956 to prohibit the Board of Governors of the Federal Reserve System from disapproving a proposed investment solely on the basis of the proposed assets to equity ratio of an export trading company unless the proposed annual average ratio is greater than 25 to one. Prohibits the Board from imposing, by regulation, a dollar limit on the amount of goods which export trading companies may maintain in inventory. Permits the Board to impose, by order, a dollar limit on the amount of goods an export trading company may maintain in inventory after such company has been operating for a reasonable period of time if it finds that such limit is necessary to prevent risks that would affect the financial or managerial resources of an investor bank holding company to an extent which is likely to have a materially adverse effect on the soundness of any subsidiary bank of such bank holding company.