Skip to main content
HR 6016 97th Congress House Finance and Financial Sector Bank holding companies Corporations and Stocks Credit Export credit Exports Foreign Trade and Investments International banking International trade Investments Securities and Investments Stocks Trade regulation

Bank Export Services Act

Introduced: March 31, 1982 See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 17 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 27, 1982
Other Measure S.734 (Amended) Passed House in Lieu.
Jul 27, 1982
Laid on Table in House by Voice Vote.
Jul 27, 1982
Passed House (Amended) by Voice Vote.
Jul 27, 1982
Passed/agreed to in House: Passed House (Amended) by Voice Vote.
Jul 27, 1982
Called up by House Under Suspension of Rules.
Jul 1, 1982
Placed on Union Calendar No: 387.
Jul 1, 1982
Reported to House (Amended) by House Committee on Banking, Finance and Urban Affairs. Report No: 97-629.
Jun 23, 1982
Ordered to be Reported (Amended).
Jun 23, 1982
Committee Consideration and Mark-up Session Held.
Jun 22, 1982
Forwarded by Subcommittee to Full Committee (Amended).
Jun 22, 1982
Subcommittee Consideration and Mark-up Session Held.
May 25, 1982
Subcommittee Hearings Held.
May 20, 1982
Subcommittee Hearings Held.
May 19, 1982
Subcommittee Hearings Held.
Apr 15, 1982
Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
Mar 31, 1982
Referred to House Committee on Banking, Finance and Urban Affairs.
Mar 31, 1982
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now July 27, 1982

Other Measure S.734 (Amended) Passed House in Lieu.

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Democratic 2