[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 80 Engrossed in House (EH)]


                In the House of Representatives, U. S.,

                                                         March 1, 1995.
    Resolved, That the President is hereby requested to provide to the House of 
Representatives (consistent with the rules of such House), not later than 14 
days after the adoption of this resolution, the following documents in the 
possession of the executive branch, if not inconsistent with the public 
interest:
            (1) Any document concerning--
                    (A) the condition of the Mexican economy; and
                    (B) any consultations between the Government of Mexico and 
                the Secretary of the Treasury (or any designee of the 
                Secretary), the International Monetary Fund, or the Bank for 
                International Settlements.
            (2) Any document containing--
                    (A) a description of the activities of the central bank of 
                Mexico, including the reserve positions of such central bank and 
                data relating to the functioning of Mexican monetary policy;
                    (B) information regarding the implementation and the extent 
                of wage, price, and credit controls in the Mexican economy;
                    (C) a complete documentation of Mexican tax policy and any 
                proposed changes to such policy;
                    (D) a description of all financial transactions, both inside 
                and outside of Mexico, directly involving funds disbursed from 
                the exchange stabilization fund and the International Monetary 
                Fund, including transactions with--
                            (i) individuals;
                            (ii) partnerships;
                            (iii) joint ventures; and
                            (iv) corporations;
                    (E) a list of planned or pending regulations of the 
                Government of Mexico affecting the private sector of the Mexican 
                economy; and
                    (F) any efforts to privatize public sector entities in 
                Mexico.
            (3) Any document concerning any legal analysis with regard to the 
        authority of the President or the Secretary of the Treasury under 
        section 5302 of title 31, United States Code, the Bretton Woods 
        Agreements Act, the Special Drawing Rights Act, the Gold Reserve Act of 
        1934, or any other law or legal authority to use the stabilization fund 
        to implement the President's proposed Mexican support package.
            (4) Any document concerning any legal opinion regarding the 
        applicability or nonapplicability of the provisions of the Federal 
        Credit Reform Act of 1990 to the exchange stabilization fund.
            (5) Any document concerning any agreement between the United States 
        and the Government of Mexico (or any other appropriate Mexican entity) 
        to provide assured sources of repayment for all payments by the United 
        States in connection with any short-, intermediate-, or long-term credit 
        facility made available to Mexico after December 31, 1994.
            (6) Any document concerning the implementation by the President and 
        the Secretary of the Treasury (or any designee of the Secretary) of the 
        authority under section 5302 of title 31, United States Code, with 
        respect to any credit facility described in paragraph (5).
            (7) Any document concerning efforts by the international community 
        to stabilize the economy of Mexico and the current status of 
        negotiations with other countries to improve the capacity of 
        international institutions to handle similar crises.
            (8) Any document concerning the extent to which Mexico is complying 
        with the terms and conditions agreed to in connection with the exercise 
        of the authority under section 5302 of title 31, United States Code, 
        with respect to any credit facility described in paragraph (5), 
        including any document concerning the extent to which--
                    (A) the Government of Mexico has agreed to use the proceeds 
                of any loan which has been made, or any security for which any 
                guarantee has been issued, through any such facility to help 
                strengthen the Mexican peso and help stabilize financial and 
                exchange markets by facilitating the refinancing or redemption 
                of short-term debt instruments issued by the Government of 
                Mexico;
                    (B) the Government of Mexico has agreed to provide--
                            (i) a comprehensive financial plan which includes a 
                        description of the intended use of any such loan or 
                        security; and
                            (ii) ongoing reports on the implementation of the 
                        financial plan while any such loan or security is 
                        outstanding;
                    (C) the Government of Mexico is respecting the autonomy of 
                the central bank of Mexico and the mandate of such bank to seek 
                stability with respect to the purchasing power of the Mexican 
                peso;
                    (D) the central bank of Mexico is pursuing a noninflationary 
                monetary and credit policy that controls credit expansion and 
                the growth of the Mexican money supply in order to maintain the 
                Mexican peso as a strong currency;
                    (E) the central bank of Mexico is providing on a periodic 
                basis to the Board of Governors of the Federal Reserve System 
                and other appropriate governmental entities information 
                necessary to make an assessment with respect to the policy 
                described in subparagraph (D), including central bank money 
                supply and monetary policy data;
                    (F) the Government of Mexico is implementing the 
                privatization policy established by such Government to transfer 
                enterprises currently owned or controlled by the Government to 
                private ownership;
                    (G) the Government of Mexico continues to permit entry of 
                foreign direct investment into Mexico and the repatriation of 
                investments from Mexico by United States nationals; and
                    (H) the Government of Mexico is pursuing market-oriented 
                measures to stem the flow of domestically owned capital from 
                Mexico.
            (9) Any document concerning any analysis of the resources which the 
        International Monetary Fund has agreed to make available in response to 
        the Mexican financial crisis.
            (10) Any document concerning--
                    (A) the percentage of the resources which the International 
                Monetary Fund has agreed to make available in response to the 
                Mexican financial crisis which are attributable to capital 
                contributions to such Fund by the United States; and
                    (B) the extent to which the participation of the 
                International Monetary Fund in international efforts to 
                strengthen the Mexican peso and stabilize the economy of Mexico 
                is likely to require additional contributions to such Fund by 
                the member states of the Fund, including the United States.
            (11) Any document concerning any agreement between the United States 
        and the Government of Mexico detailing the fee structure and the terms 
        and conditions under which loans, loan guarantees, and other financial 
        support may be made available to Mexico through the stabilization fund 
        established under section 5302 of title 31, United States Code, 
        including--
                    (A) any document concerning background materials on the 
                assessment of the Mexican economy and any United States 
                Government rationalization for pressing the central bank of 
                Mexico to increase interest rates from 40 percent to 50 percent;
                    (B) any document concerning the framework agreement entered 
                into on or about February 21, 1995, which serves as the umbrella 
                accord for the provision of any such loan, loan guarantee, or 
                other financial support;
                    (C) any document concerning the medium-term exchange 
                stabilization agreement entered into on or about February 21, 
                1995, which specifies the terms and conditions for medium-term 
                swap transactions between the United States and Mexico;
                    (D) any document concerning the guarantee agreement entered 
                into on or about February 21, 1995, which specifies the terms 
                and conditions for the issuance of guarantees by the United 
                States of debt securities issued by Mexico; and
                    (E) any document concerning the oil proceeds facility 
                agreement entered into on or about February 21, 1995, which 
                establishes a mechanism to provide an assured source of 
                repayment of United States resources.
            (12) Any document concerning the assured source of repayment to the 
        United States for any short-, intermediate-, or long-term credit 
        facility made available to Mexico after December 31, 1994.
            (13) Any document concerning the net worth of Pemex, the historical 
        annual revenues of Pemex, the projected annual revenues during the 5-
        year period beginning on the date of the adoption of this resolution, 
        and the extent to which the proceeds from the sale of Mexican oil to 
        customers within Mexico or outside of Mexico--
                    (A) are required to be paid to the Government of Mexico as 
                taxes or as payments in lieu of taxes; or
                    (B) have been pledged as collateral for the repayment of any 
                loans or other extensions of credit to the Government of Mexico 
                or to Pemex other than any credit facility described in 
                paragraph (12).
            (14) Any document concerning the value of any oil the proceeds from 
        the sale of which are pledged to assure the repayment of any financial 
        assistance provided by the United States to Mexico, the documentation 
        received by the United States in connection with such pledge, and the 
        manner in which the United States may exercise any rights under such 
        pledge to obtain the proceeds as repayment for losses incurred.
            (15) Any document concerning any assurances given by the Government 
        of Mexico to the United States Government with respect to changes in 
        past economic policies or the adoption of a new economic plan.
            (16) Any document concerning the decision by the President to use 
        the assets of the exchange stabilization fund established under section 
        5302 of title 31, United States Code, in connection with any short-, 
        intermediate-, or long-term credit facility made available to Mexico 
        after December 31, 1994.
            (17) Any document concerning the criteria used by the President or 
        the Secretary of the Treasury (or any designee of the Secretary) in 
        making any decision to use the assets of the exchange stabilization fund 
        to respond to any economic, balance of payments, or exchange crisis in 
        any country and the facts on which such determinations were made with 
        respect to Poland, in 1989, and to Mexico in December of 1994 and early 
        1995.
            (18) Any document concerning how the use of the assets of the 
        exchange stabilization fund as a source of credit to Mexico compares 
        with all prior uses of the assets of the fund since 1945 for all other 
        countries under section 5302 of title 31, United States Code, with 
        regard to--
                    (A) the dollar amount of each transaction;
                    (B) the type of the transaction, such as loan, loan 
                guarantee, or swap agreement (as defined in section 
                11(e)(8)(D)(vi) of the Federal Deposit Insurance Act);
                    (C) the purpose of the transaction, such as whether it was 
                to support the United States dollar, to support a foreign 
                currency, or any other purpose;
                    (D) the duration, in years, of the transaction during which 
                any credit was or is permitted to remain outstanding;
                    (E) any security or collateral pledged to assure repayment 
                with respect to each such transaction; and
                    (F) the existence of any agreement involving the 
                International Monetary Fund or the Board of Governors of the 
                Federal Reserve System in connection with each such transaction 
                and the terms of each agreement by such Fund or Board.
            (19) Any document concerning debts owed by the Government of Mexico 
        and any entity owned or controlled by the Government of Mexico to United 
        States public or private creditors which are outstanding as of the date 
        of the adoption of this resolution, the status of each such debt 
        (including whether such debt has been refinanced), and the collateral or 
        security pledged to assure repayment of such debt.
            (20) Any document concerning an accounting of all the fund flows 
        through the exchange stabilization fund established under section 5302 
        of title 31, United States Code, during the 24-month period ending on 
        the date of the adoption of this resolution, including the 
        identification of the amount of and purpose for each transaction 
        involving such fund during such period.
            (21) Any document concerning the balance of available assets in the 
        exchange stabilization fund as of the date of the adoption of this 
        resolution.
            (22) Any document concerning the amount by which the total principal 
        amount of loans, loan guarantees, and other extensions of credit which 
        the President has announced will be made available to Mexico exceeds the 
        total amount of available assets in the exchange stabilization fund 
        established under section 5302 of title 31, United States Code, and the 
        means for covering the shortfall, if any.
            (23) Any document concerning the departure of the International 
        Monetary Fund from the Fund's customary guidelines for country 
        assistance, including any recommendation made by the President or any 
        other officer or employee in the executive branch to the Fund regarding 
        the amount of financial assistance the Fund was preparing to make 
        available to Mexico, and any reciprocal agreement made by the executive 
        branch to the Fund for making such assistance available in an amount 
        greatly in excess of the customary guidelines.
            (24) Any document concerning the factual circumstances pursuant to 
        which the Bank for International Settlements has become a lender to 
        individual countries beyond the Bank's customary role as a clearinghouse 
        for central banks.
            (25) Any document concerning the financial obligations of the Board 
        of Governors of the Federal Reserve System to the Bank for International 
        Settlements.
            (26) Any document concerning the relationship among the Board of 
        Governors of the Federal Reserve System, the Bank for International 
        Settlements, and the central banks of other countries which are 
        affiliated with such Bank in any manner with regard to assigning or 
        apportioning the ultimate liability for any loss incurred in connection 
        with the extension of credit by such Bank to the Government of Mexico.
            (27) Any document concerning any discrepancy between the amount the 
        President announced is available in the exchange stabilization fund 
        established under section 5302 of title 31, United States Code, and the 
        amount shown as being available in such Fund in the monthly statement of 
        the public debt of the United States on December 31, 1994.
            (28) Any document concerning conditions which were put on the credit 
        facilities made available to Mexico through the exchange stabilization 
        fund or the Board of Governors of the Federal Reserve System that were 
        requested by members of the investment community.

            Attest:

                                                                 Clerk.