22-U.S.C.-5353
§5353 – Fair Trade In Financial Services
Pathway
Title 22 > Chapter 62 > Subchapter IV > Section 5353
Details
- Reference: Section 5353
- Legend: §5353 – Fair Trade In Financial Services
- USCode Year: 2013
Provision Content
(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.)
Delegation of Functions
Functions of President under this section delegated to Secretary of the Treasury by section 1 of Ex. Ord. No. 12781, Nov. 20, 1991, 56 F.R. 59203, set out as a note under section 301 of Title 3, The President.
U.S. Encyclopedia of Law Coverage
Subchapter IV – Financial Reports in the Legal Encyclopedia: Foreign Relations
In this entry about Subchapter IV – Financial Reports, find legal reference material, bibliographies and premiere content related to foreign relations in the American Encyclopedia of Law, presenting a comprehensive view of the United States foreign relations-specific issues, written by authorities in the field.
22-U.S.C.-3282 in the Legal Encyclopedia: Reports
In this entry about 22-U.S.C.-3282, find legal reference material, bibliographies and premiere content related to reports in the American Encyclopedia of Law, presenting a comprehensive view of the United States reports-specific issues, written by authorities in the field.
22-U.S.C.-5323 in the Legal Encyclopedia: International Finance
In this entry about 22-U.S.C.-5323, find legal reference material, bibliographies and premiere content related to international finance in the American Encyclopedia of Law, presenting a comprehensive view of the United States international finance-specific issues, written by authorities in the field.
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