§ 5353. Fair trade in financial services

290 words·~1 min read·/usc/title-22/section-5353

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(a)Discussions When advantageous the President or his designee shall conduct discussions with the governments of countries that are major financial centers, aimed at:

(1)ensuring that United States banking organizations and securities companies have access to foreign markets and receive national treatment in those markets;

(2)reducing or eliminating barriers to, and other distortions of, international trade in financial services;

(3)achieving reasonable comparability in the types of financial services permissible for financial service companies; and

(4)developing uniform supervisory standards for banking organizations and securities companies, including uniform capital standards.

(b)Consultation before discussions Before entering into those discussions, the President or his designee shall consult with the committees of jurisdiction in the Senate and the House of Representatives.

(c)Recommendations After completing those discussions and after consultation with the committees of jurisdiction, the President shall transmit to the Congress any recommendations that have emerged from those discussions. Any recommendations for changes in United States financial laws or practices shall be accompanied by a description of the changes in foreign financial laws or practices that would accompany action by the Congress, and by an explanation of the benefits that would accrue to the United States from adoption of the recommendations.

(d)Construction of section Nothing in this section may be construed as prior approval of any legislation which may be necessary to implement any recommendations resulting from discussions under this section.

(Pub. L. 100–418, title III, § 3603, Aug. 23, 1988, 102 Stat. 1387.)

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U.S. Code

statutes-at-large

Public Law 100–418
To enhance the competitiveness of American industry, and for other purposes

Traces to 1 document

U.S. Code

General authorization to delegate functions; publication of delegations
§ 301

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Pub. L. 100–418, title III, § 3603
102 Stat. 1387

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cites case law

§ 5353

Fair trade in financial services

U.S.C.×3

Stat.×1

U.S.C.§ 301

Pub. L.Pub. L. 100–418, title III, § 3603

Stat.102 Stat. 1387

Cites 3Cited by 4 across 2 sources