3.0.0 1677 2023-01-12T17:52:46Z 2023-01-12T17:52:46Z Senate S S 2007-06-21 110 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Markup by 2007-08-01T15:58:22Z Referred to 2007-06-21T19:58:26Z 2007-08-01 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably. Committee 2007-06-21 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S8235-8237) IntroReferral 2007-06-21 Sponsor introductory remarks on measure. (CR S8234-8235) IntroReferral B00100 9 Library of Congress 2007-06-21 Introduced in Senate IntroReferral 10000 9 Library of Congress D000388 Sen. Dodd, Christopher J. [D-CT] CHRISTOPHER DODD D CT JOHN N S000320 Sen. Shelby, Richard C. [R-AL] Richard Shelby R AL C. 2007-06-21 True B001233 Sen. Bayh, Evan [D-IN] EVAN BAYH D IN 2007-06-21 True B001066 Sen. Bunning, Jim [R-KY] JIM BUNNING R KY 2007-06-21 True C000174 Sen. Carper, Thomas R. [D-DE] Thomas Carper D DE R. 2007-06-21 True B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH 2007-06-21 True C001070 Sen. Casey, Robert P., Jr. [D-PA] Bob Casey D PA 2007-06-21 True S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2007-06-21 True D000601 Sen. Dole, Elizabeth [R-NC] Elizabeth Dole R NC H. 2007-06-29 False M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ 2007-07-31 False M001162 Sen. Martinez, Mel [R-FL] Mel Martinez R FL 2007-07-31 False 2007-08-28T04:00:00Z S. 1677, Currency Reform and Financial Markets Access Act of 2007 http://www.cbo.gov/publication/19107 <p>Cost estimate for the bill as ordered reported by the Senate Committee on Banking, Housing and Urban Affairs on August 1, 2007</p> 2007-08-28T04:00:00Z S. 1677, Currency Reform and Financial Markets Access Act of 2007 https://www.cbo.gov/publication/19107 Cost estimate for the bill as ordered reported by the Senate Committee on Banking, Housing and Urban Affairs on August 1, 2007 Foreign Trade and International Finance American investments Balance of payments China Congress Congressional oversight Congressional reporting requirements East Asia Economic growth Economics and Public Finance Finance and Financial Sector Financial services Foreign exchange Foreign trade promotion Governmental investigations International Affairs International competitiveness International monetary system Legislative resolutions Negotiations Subsidies Foreign Trade and International Finance 00 2007-06-21 Introduced in Senate 2007-09-25T20:19:49Z Currency Reform and Financial Markets Access Act of 2007 - Amends the Exchange Rates and International Economic Policy Coordination Act of 1988 to revise U.S. policy provisions by urging: (1) the United States, and other major industrialized countries, to work together to ensure that the exchange rate of the currencies of major trading nations and the U.S. dollar reflect market forces and contribute to the growth and balance of the international economy; and (2) the United States to take appropriate action to ensure that U.S. trading partners are not engaged in hidden or unfair subsidies through management of their currency or international exchange rates.

Revises a certain annual analysis the Secretary of the Treasury (Secretary) must make with respect to the exchange rate policies of foreign countries to include an analysis of whether any country, regardless of intent, manipulates the exchange rate between its currency and the U.S. dollar in a manner that results in an accumulation of substantial dollar currency reserves. Requires the Secretary, if the Secretary makes specified findings, to make an affirmative determination that a country is manipulating its currency and to take the following actions, including: (1) establishing a plan to remedy the currency manipulation; and (2) initiating bilateral negotiations with such country, and instructing the Executive Director to the International Monetary Fund to use the U.S. vote, in order to ensure that such country adjusts the exchange rate between its currency and the U.S. dollar to permit balance of payment adjustments and to eliminate the unfair competitive advantage.

Provides procedures for a joint resolution of congressional disapproval when Congress disapproves of the Secretary's findings concerning currency manipulation.

Promoting Market Access for Financial Services Act - Amends the Financial Reports Act of 1988 to require: (1) the Secretary to report annually (under current law, every four years) to Congress beginning July 1, 2008, on the treatment of U.S. financial institutions by foreign countries; and (2) such report to include a summary of the results of the most recent U.S.-China Strategic Economic Dialogue (SED) and how such results pertain to promoting foreign market access for U.S. financial institutions.

]]> Currency Reform and Financial Markets Access Act of 2007 Display Title Currency Reform and Financial Markets Access Act of 2007 Official Title as Introduced A bill to amend the Exchange Rates and International Economic Coordination Act of 1988 and for other purposes. Introduced in Senate IS Short Titles as Introduced Currency Reform and Financial Markets Access Act of 2007 Short Titles as Introduced for portions of this bill Promoting Market Access for Financial Services Act Introduced in Senate 2007-06-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1677is/xml/BILLS-110s1677is.xml 2007-08-01 Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably. 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.