3.0.0 552 2023-01-11T20:46:40Z 2023-01-11T20:46:40Z House H HRES 2007-07-17 110 hsba00 Financial Services Committee House Standing Referred to 2007-07-17T13:02:10Z 2007-09-05 14:15:23 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2007-09-05 14:15:22 On motion to suspend the rules and agree to the resolution Agreed to by the Yeas and Nays: (2/3 required): 401 - 4 (Roll no. 850). (text: CR 9/4/2007 H10032) Floor H37300 2 House floor actions 850 https://clerk.house.gov/evs/2007/roll850.xml House 110 2007-09-05T18:15:22Z 1 2007-09-05 14:15:22 Passed/agreed to in House: On motion to suspend the rules and agree to the resolution Agreed to by the Yeas and Nays: (2/3 required): 401 - 4 (Roll no. 850).(text: CR 9/4/2007 H10032) Floor 8000 9 Library of Congress 850 https://clerk.house.gov/evs/2007/roll850.xml House 110 2007-09-05T18:15:22Z 1 2007-09-05 13:51:34 Considered as unfinished business. (consideration: CR H10111) Floor H30000 2 House floor actions 2007-09-04 15:18:18 At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed. Floor H37220 2 House floor actions 2007-09-04 14:57:33 DEBATE - The House proceeded with forty minutes of debate on H. Res. 552. Floor H8D000 2 House floor actions 2007-09-04 14:57:29 Considered under suspension of the rules. (consideration: CR H10032-10036) Floor H30000 2 House floor actions 2007-09-04 14:56:54 Mr. Marshall moved to suspend the rules and agree to the resolution. Floor H30300 2 House floor actions 2007-07-17 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2007-07-17 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-07-17 Introduced in House IntroReferral 1000 9 Library of Congress M001146 Rep. Marshall, Jim [D-GA-8] Jim Marshall D GA 8 N R000580 Rep. Roskam, Peter J. [R-IL-6] Peter Roskam R IL J. 6 2007-07-17 True F000339 Rep. Frank, Barney [D-MA-4] BARNEY FRANK D MA 4 2007-07-17 True B000013 Rep. Bachus, Spencer [R-AL-6] SPENCER BACHUS R AL 6 2007-07-17 True Foreign Trade and International Finance American investments Bank examination China Conferences East Asia Finance and Financial Sector Financial institutions Financial services Foreign banks and banking Foreign investments Free trade Government Operations and Politics International Affairs International banking Life insurance Nontariff trade barriers Reciprocity Securities Trade agreements Trade negotiations Foreign Trade and International Finance 00 2007-07-17 Introduced in House 2007-09-18T17:51:44Z Declares the sense of the House of Representatives that: (1) the government of the People's Republic of China should immediately implement all of its World Trade Organization (WTO) commitments to date in financial services; and (2) it should immediately implement all of its commitments to date made under the auspices of the Strategic Economic Dialogue (SED) initiated by the Secretary of the Treasury.

States that U.S. goals for the next SED meeting should be to achieve Chinese commitments toward: (1) removal of all foreign investment ownership caps on banking, life insurance, asset management, and securities; and (2) nondiscriminatory treatment of U.S. financial services firms with regard to licensing, corporate form, and permitted products and services, as well as regulation and supervision.

Urges U.S. financial service regulators, in assessing whether applications from Chinese financial institutions meet comprehensive consolidated supervision standards, to consider: (1) whether such applications are for operations and activities in the United States that are currently prohibited for U.S. financial institutions in China; and (2) the extent to which such prohibitions reflect problems with the quality of home country supervision.

]]> 81 2007-09-05 Passed House without amendment 2007-09-19T21:11:32Z (This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Declares the sense of the House of Representatives that: (1) the government of the People's Republic of China should immediately implement all of its World Trade Organization (WTO) commitments to date in financial services; and (2) it should immediately implement all of its commitments to date made under the auspices of the Strategic Economic Dialogue (SED) initiated by the Secretary of the Treasury.

States that U.S. goals for the next SED meeting should be to achieve Chinese commitments toward: (1) removal of all foreign investment ownership caps on banking, life insurance, asset management, and securities; and (2) nondiscriminatory treatment of U.S. financial services firms with regard to licensing, corporate form, and permitted products and services, as well as regulation and supervision.

Urges U.S. financial service regulators, in assessing whether applications from Chinese financial institutions meet comprehensive consolidated supervision standards, to consider: (1) whether such applications are for operations and activities in the United States that are currently prohibited for U.S. financial institutions in China; and (2) the extent to which such prohibitions reflect problems with the quality of home country supervision.

]]> Calling on the Government of the People's Republic of China to remove barriers to United States financial services firms doing business in China. Official Title as Introduced Calling on the Government of the People's Republic of China to remove barriers to United States financial services firms doing business in China. Introduced in House IH Display Title Calling on the Government of the People's Republic of China to remove barriers to United States financial services firms doing business in China. Engrossed in House 2007-09-05T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hres552eh/xml/BILLS-110hres552eh.xml Introduced in House 2007-07-17T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hres552ih/xml/BILLS-110hres552ih.xml 2007-09-05 Motion to reconsider laid on the table Agreed to without objection. 14:15:23 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.