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22 U.S.C. § 5353 — Fair trade in financial services
Federal law — U.S. Code and appendices · legal_authorities
**(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.
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Source file: Laws/federal/codes/united-states-code/title-22/section-5353-fair-trade-in-financial-services--baf0b0d6b7.md
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Source location: Title 22, Chapter 62, § 5353; chapter-062-international-financial-policy.md
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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.
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Federal law — U.S. Code and appendices · legal_authorities
The President of the United States is authorized to designate and empower the head of any department or agency in the executive branch, or any official thereof who is required to be appointed by and with the advice and consent of the Senate, to perform without approval, ratification, or other action by the President (1) any function which is vested in the President by law, or (2) any function which such officer is required or authorized by law to perform only with or subject to the approval, ratification, or other action of the President: Provided, That nothing contained herein shall relieve the President of his responsibility in office for the acts of any such head or other official designated by him to perform such functions. Such designation and authorization shall be in writing, shall be published in the Federal Register, shall be subject to such terms, conditions, and limitations as the President may deem advisable, and shall be revocable at any time by the President in whole or in part.
Source: Supplied U.S. Code snapshot — release unconfirmed · 3 U.S.C. § 301
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Federal law — U.S. Code and appendices · legal_authorities
Not less frequently than every 4 years, beginning December 1, 1990, the Secretary of the Treasury, in conjunction with the Secretary of State, the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Department of Commerce, shall report to the Congress on (1) the foreign countries from which foreign financial services institutions have entered into the business of providing financial services in the United States, (2) the kinds of financial services which are being offered, (3) the extent to which foreign countries deny national treatment to United States banking organizations and securities companies, and (4) the efforts undertaken by the United States to eliminate such discrimination. The report shall focus on those countries in which there are significant denials of national treatment which impact United States financial firms. The report shall also describe the progress of discussions pursuant to [section 5353 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section5353&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 5352
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Federal law — U.S. Code and appendices · legal_authorities
Page 1650
TITLE 22—FOREIGN RELATIONS AND INTERCOURSE
§ 5351
(F) long delays in processing applications
and granting approvals for licenses to oper-
ate; and
(G) restrictions on foreign institutions’
participation in Ministry of Finance policy
advisory councils.
(b) Designation of certain persons as primary
dealers prohibited
(1) General rule
Neither the Board of Governors of the Fed-
eral Reserve System nor the Federal Reserve
Bank of New York may designate, or permit
the continuation of any prior designation of,
any person of a foreign country as a primary
dealer in government debt instruments if such
foreign country does not accord to United
States companies the same competitive oppor-
tunities in the underwriting and distribution
of government debt instruments issued by
such country as such country accords to do-
mestic companies of such country.
(2) Certain prior acquisitions excepted
Paragraph (1) shall not apply to the continu-
ation of the prior designation of a company as
a primary dealer in government debt instru-
ments if—
(A) such designation occurred before July
31, 1987; and
(B) before July 31, 1987—
(i) control of such company was acquired
from a person (other than a person of a for-
eign country) by a person of a foreign
country; or
(ii) in conjunction with a person of a for-
eign country, such company informed the
Federal Reserve Bank of New York of the
intention of such person to acquire control
of such company.
(c) Exception for countries having or negotiating
bilateral agreements with United States
Subsection (b) shall not apply to any person of
a foreign country if—
(1) that country, as of January 1, 1987, was
negotiating a bilateral agreement with the
United States under the authority of section
2112(b)(4)(A) of tit
Source: Supplied 2024 U.S. Code historical extraction · 22 U.S.C. § 5353
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