[Congressional Record Volume 140, Number 139 (Thursday, September 29, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: September 29, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
PROVIDING FOR CONSIDERATION OF H.R. 4926, NATIONAL TREATMENT IN BANKING 
                              ACT OF 1994

  Ms. SLAUGHTER. Mr. Speaker, by direction of the Committee on Rules, I 
call up House Resolution 543 and ask for its immediate consideration.
  The Clerk read the resolution, as follows:

                              H. Res. 543

       Resolved, That at any time after the adoption of this 
     resolution the Speaker may, pursuant to clause 1(b) of rule 
     XXIII, declare the House resolved into the Committee of the 
     Whole House on the State of the Union for consideration of 
     the bill (H.R. 4926) to require the Secretary of the Treasury 
     to identify foreign countries which may be denying national 
     treatment to United States banking organizations and to 
     assess whether any such denial may be having a significant 
     adverse effect on such organizations, and to require Federal 
     banking agencies to take such assessments into account in 
     considering applications by foreign banks under the 
     International Banking Act of 1978 and the Bank Holding 
     Company Act of 1956. The first reading of the bill shall be 
     dispensed with. General debate shall be confined to the bill 
     and shall not exceed one hour equally divided and controlled 
     by the chairman and ranking minority member of the Committee 
     on Banking, Finance and Urban Affairs. After general debate 
     the bill shall be considered for amendment under the five-
     minute rule. It shall be in order to consider as an original 
     bill for the purpose of amendment under the five-minute rule 
     the amendment in the nature of a substitute recommended by 
     the Committee on Banking, Finance and Urban Affairs now 
     printed in the bill. Each section of the committee amendment 
     in the nature of a substitute shall be considered as read. At 
     the conclusion of consideration of the bill for amendment the 
     Committee shall rise and report the bill to the House with 
     such amendments as may have been adopted. Any Member may 
     demand a separate vote in the House on any amendment adopted 
     in the Committee of the Whole to the bill or to the committee 
     amendment in the nature of a substitute. The previous 
     question shall be considered as ordered on the bill and 
     amendments thereto to final passage without intervening 
     motion except one motion to recommit with or without 
     instructions.

  The SPEAKER pro tempore. The gentlewoman from New York [Ms. 
Slaughter] is recognized for 1 hour.
  Ms. SLAUGHTER. Mr. Speaker, I yield the customary 30 minutes of 
debate time to the gentleman from California [Mr. Dreier], pending 
which I yield myself such time as I may consume. During consideration 
of this resolution, all time yielded is for the purpose of debate only.
  (Ms. SLAUGHTER asked and was given permission to revise and extend 
her remarks.)
  Ms. SLAUGHTER. Mr. Speaker, House Resolution 543 is an open rule 
providing for the consideration of H.R. 4926, the National Treatment in 
Banking Act of 1994.
  The rule provides for 1 hour of general debate to be equally divided 
and controlled by the chairman and ranking minority member of the 
Committee on Banking, Finance and Urban Affairs.
  The rule makes in order as an original bill for the purposes of 
amending an amendment in the nature of a substitute recommended by the 
Committee on Banking, Finance and Urban Affairs now printed in the 
bill. Each section of the substitute shall be considered as read.
  Finally, the rule provides for one motion to recommit with or without 
instructions.
  Mr. Speaker, H.R. 4926, the bill for which the Rules Committee has 
recommended this rule, would require the Secretary of the Treasury to 
identify foreign countries that may be denying national treatment to 
U.S. banking organizations and to determine whether that denial is 
having an adverse effect on the banking organizations. Federal banking 
agencies would be required to take notice of any such assessment 
published by the Secretary when considering applications filed by 
foreign banks under various banking statutes.
  Mr. Speaker, I urge my colleagues to support this open rule so that 
the House may consider this important legislation.
  Mr. Speaker, I reserve the balance of my time.
  Mr. DREIER. Mr. Speaker, I yield myself such time as I may consume.
  (Mr. DREIER asked and was given permission to revise and extend his 
remarks.)
  Mr. DREIER. Mr. Speaker, I support this rule for consideration of the 
National Treatment in Banking Act. It is an open rule that does not 
waive points of order against the bill or any amendments. Nobody is 
gagged, and nobody is given preferential treatment.
  Mr. Speaker, spotting a rule like this coming out of the Committee on 
Rules is an endangered species sighting of sorts. When it occurs, it is 
cause for a small celebration. I urge all Members to support this rule, 
and I hope very much that we see a resurgence of fair open rules 
emanating from our Committee on Rules.
  I do have some concerns about the legislation. However, I believe 
that any legislation that can have the potential of closing our market 
to quality goods and services must be very closely scrutinized. The 
burden of proof must lie with those who want to restrict or threaten to 
restrict trade. Last fall, a year-long study by the Nation's three top 
experts on productivity, including Nobel laureate Robert Solow, found 
that the United States is still the world's productivity leader, 
outdistancing Japan and Germany by significant margins.
  Mr. Speaker, the key finding of the report was that protectionist 
barriers hurt productivity in the country that blocks foreign 
competition. The more open the economy, the more productive the 
industries. While the competitiveness of the U.S. banks has been 
hindered by Depression-era banking laws and regulations, in general the 
United States has the fewest trade barriers, resulting in the United 
States remaining most productive. The report recommends reducing trade 
barriers.
  The message is clear, despite how much we detest unfair treatment in 
other countries, protectionism abroad hurts the other country more than 
it hurts us. At the same time, closing our market, even in the name of 
increasing exports at some future date, hurts us. Therefore, while we 
work, even struggle to open foreign markets to highly competitive 
American industries such as our banking institutions, resorting to 
protecting our market in retaliation would in practice shoot ourselves 
in the foot.
  Therefore, despite the very good intentions of the authors and 
supporters of the bill, I do not believe it is in our national 
interests to threaten to close our market or abandon national treatment 
in banking. However, I recognize the desire to provide a stick to our 
trade negotiators as they painstakingly work to gain national treatment 
agreements for financial services.
  In order to better focus the legislation on the trade negotiation 
leverage, rather than on the potential for self-destructive regulatory 
protectionism, I will be using the open amendment process to offer two 
amendments.
  One amendment will clarify that the review process undertaken by the 
Treasury Department is not intended to implicate treatment by countries 
with which the United States has negotiated trade agreements pertaining 
to banking, such as those in the North American Free-Trade Agreement. I 
believe that this will be a noncontroversial amendment.
  My second amendment recognizes the fact that the administration does 
not have fast-track negotiating authority for financial services 
agreements. The administration has asked for that authority and they 
have repeatedly claimed that it is critical to concluding successful 
negotiations. I believe that without fast track, this bill creates a 
stick to punish offending countries without the authority to achieve 
the carrot of market opening agreements.

                              {time}  1920

  Therefore, the amendment would defer the actions of the Treasury 
Department until fast track is granted to the administration.
  In the meantime, Mr. Speaker, I strongly support this rule and urge 
adoption of it and look forward to working with my colleagues on this 
legislation.
  Mr. Speaker, I include for the Record the following:

              OPEN VERSUS RESTRICTIVE RULES 95TH-103D CONG.             
------------------------------------------------------------------------
                                      Open rules       Restrictive rules
  Congress (years)   Total rules ---------------------------------------
                      granted\1\  Number  Percent\2\  Number  Percent\3\
------------------------------------------------------------------------
95th (1977-78).....          211     179         85       32         15 
96th (1979-80).....          214     161         75       53         25 
97th (1981-82).....          120      90         75       30         25 
98th (1983-84).....          155     105         68       50         32 
99th (1985-86).....          115      65         57       50         43 
100th (1987-88)....          123      66         54       57         46 
101st (1989-90)....          104      47         45       57         55 
102d (1991-92).....          109      37         34       72         66 
103d (1993-94).....           99      31         31       68         69 
------------------------------------------------------------------------
\1\Total rules counted are all order of business resolutions reported   
  from the Rules Committee which provide for the initial consideration  
  of legislation, except rules on appropriations bills which only waive 
  points of order. Original jurisdiction measures reported as privileged
  are also not counted.                                                 
\2\Open rules are those which permit any Member to offer any germane    
  amendment to a measure so long as it is otherwise in compliance with  
  the rules of the House. The parenthetical percentages are open rules  
  as a percent of total rules granted.                                  
\3\Restrictive rules are those which limit the number of amendments     
  which can be offered, and include so-called modified open and modified
  closed rules, as well as completely closed rule, and rules providing  
  for consideration in the House as opposed to the Committee of the     
  Whole. The parenthetical percentages are restrictive rules as a       
  percent of total rules granted.                                       
                                                                        
Sources: ``Rules Committee Calendars & Surveys of Activities,'' 95th-   
  102d Cong.; ``Notices of Action Taken,'' Committee on Rules, 103d     
  Cong., through Sept. 28, 1994.                                        


                                                        OPEN VERSUS RESTRICTIVE RULES: 103D CONG.                                                       
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                  Rule                                      Amendments                                                                  
   Rule number date reported      type       Bill number and subject         submitted         Amendments allowed         Disposition of rule and date  
--------------------------------------------------------------------------------------------------------------------------------------------------------
H. Res. 58, Feb. 2, 1993......  MC        H.R. 1: Family and medical     30 (D-5; R-25)..  3 (D-0; R-3)..............  PQ: 246-176. A: 259-164. (Feb. 3,
                                           leave.                                                                       1993).                          
H. Res. 59, Feb. 3, 1993......  MC        H.R. 2: National Voter         19 (D-1; R-18)..  1 (D-0; R-1)..............  PQ: 248-171. A: 249-170. (Feb. 4,
                                           Registration Act.                                                            1993).                          
H. Res. 103, Feb. 23, 1993....  C         H.R. 920: Unemployment         7 (D-2; R-5)....  0 (D-0; R-0)..............  PQ: 243-172. A: 237-178. (Feb.   
                                           compensation.                                                                24, 1993).                      
H. Res. 106, Mar. 2, 1993.....  MC        H.R. 20: Hatch Act amendments  9 (D-1; R-8)....  3 (D-0; R-3)..............  PQ: 248-166. A: 249-163. (Mar. 3,
                                                                                                                        1993).                          
H. Res. 119, Mar. 9, 1993.....  MC        H.R. 4: NIH Revitalization     13 (d-4; R-9)...  8 (D-3; R-5)..............  PQ: 247-170. A: 248-170. (Mar.   
                                           Act of 1993.                                                                 10, 1993).                      
H. Res. 132, Mar. 17, 1993....  MC        H.R. 1335: Emergency           37 (D-8; R-29)..  1(not submitted) (D-1; R-   A: 240-185. (Mar. 18, 1993).     
                                           supplemental Appropriations.                     0).                                                         
H. Res. 133, Mar. 17, 1993....  MC        H. Con. Res. 64: Budget        14 (D-2; R-12)..  4 (1-D not submitted) (D-   PQ: 250-172. A: 251-172. (Mar.   
                                           resolution.                                      2; R-2).                    18, 1993).                      
H. Res. 138, Mar. 23, 1993....  MC        H.R. 670: Family planning      20 (D-8; R-12)..  9 (D-4; R-5)..............  PQ: 252-164. A: 247-169. (Mar.   
                                           amendments.                                                                  24, 1993).                      
H. Res. 147, Mar. 31, 1993....  C         H.R. 1430: Increase Public     6 (D-1; R-5)....  0 (D-0; R-0)..............  PQ: 244-168. A: 242-170. (Apr. 1,
                                           debt limit.                                                                  1993).                          
H. Res. 149 Apr. 1, 1993......  MC        H.R. 1578: Expedited           8 (D-1; R-7)....  3 (D-1; R-2)..............  A: 212-208. (Apr. 28, 1993).     
                                           Rescission Act of 1993.                                                                                      
H. Res. 164, May 4, 1993......  O         H.R. 820: Nate                 NA..............  NA........................  A: Voice Vote. (May 5, 1993).    
                                           Competitiveness Act.                                                                                         
H. Res. 171, May 18, 1993.....  O         H.R. 873: Gallatin Range Act   NA..............  NA........................  A: Voice Vote. (May 20, 1993).   
                                           of 1993.                                                                                                     
H. Res. 172, May 18, 1993.....  O         H.R. 1159: Passenger Vessel    NA..............  NA........................  A: 308-0 (May 24, 1993).         
                                           Safety Act.                                                                                                  
H. Res. 173 May 18, 1993......  MC        S.J. Res. 45: United States    6 (D-1; R-5)....  6 (D-1; R-5)..............  A: Voice Vote (May 20, 1993)     
                                           forces in Somalia.                                                                                           
H. Res. 183, May 25, 1993.....  O         H.R. 2244: 2d supplemental     NA..............  NA........................  A: 251-174. (May 26, 1993).      
                                           appropriations.                                                                                              
H. Res. 186, May 27, 1993.....  MC        H.R. 2264: Omnibus budget      51 (D-19; R-32).  8 (D-7; R-1)..............  PQ: 252-178. A: 236-194 (May 27, 
                                           reconciliation.                                                              1993).                          
H. Res. 192, June 9, 1993.....  MC        H.R. 2348: Legislative branch  50 (D-6; R-44)..  6 (D-3; R-3)..............  PQ: 240-177. A: 226-185. (June   
                                           appropriations.                                                              10, 1993).                      
H. Res. 193, June 10, 1993....  O         H.R. 2200: NASA authorization  NA..............  NA........................  A: Voice Vote. (June 14, 1993).  
H. Res. 195, June 14, 1993....  MC        H.R. 5: Striker replacement..  7 (D-4; R-3)....  2 (D-1; R-1)..............  A: 244-176.. (June 15, 1993).    
H. Res. 197, June 15, 1993....  MO        H.R. 2333: State Department.   53 (D-20; R-33).  27 (D-12; R-15)...........  A: 294-129. (June 16, 1993).     
                                           H.R. 2404: Foreign aid.                                                                                      
H. Res. 199, June 16, 1993....  C         H.R. 1876: Ext. of ``Fast      NA..............  NA........................  A: Voice Vote. (June 22, 1993).  
                                           Track''.                                                                                                     
H. Res. 200, June 16, 1993....  MC        H.R. 2295: Foreign operations  33 (D-11; R-22).  5 (D-1; R-4)..............  A: 263-160. (June 17, 1993).     
                                           appropriations.                                                                                              
H. Res. 201, June 17, 1993....  O         H.R. 2403: Treasury-postal     NA..............  NA........................  A: Voice Vote. (June 17, 1993).  
                                           appropriations.                                                                                              
H. Res. 203, June 22, 1993....  MO        H.R. 2445: Energy and Water    NA..............  NA........................  A: Voice Vote. (June 23, 1993).  
                                           appropriations.                                                                                              
H. Res. 206, June 23, 1993....  O         H.R. 2150: Coast Guard         NA..............  NA........................  A: 401-0. (July 30, 1993).       
                                           authorization.                                                                                               
H. Res. 217, July 14, 1993....  MO        H.R. 2010: National Service    NA..............  NA........................  A: 261-164. (July 21, 1993).     
                                           Trust Act.                                                                                                   
H. Res. 220, July 21, 1993....  MC        H.R. 2667: Disaster            14 (D-8; R-6)...  2 (D-2; R-0)..............  PQ: 245-178. F: 205-216. (July   
                                           assistance supplemental.                                                     22, 1993).                      
H. Res. 226, July 23, 1993....  MC        H.R. 2667: Disaster            15 (D-8; R-7)...  2 (D-2; R-0)..............  A: 224-205. (July 27, 1993).     
                                           assistance supplemental.                                                                                     
H. Res. 229, July 28, 1993....  MO        H.R. 2330: Intelligence        NA..............  NA........................  A: Voice Vote. (Aug. 3, 1993).   
                                           Authority Act, fiscal year                                                                                   
                                           1994.                                                                                                        
H. Res. 230, July 28, 1993....  O         H.R. 1964: Maritime            NA..............  NA........................  A: Voice Vote. (July 29, 1993).  
                                           Administration authority.                                                                                    
H. Res. 246, Aug. 6, 1993.....  MO        H.R. 2401: National Defense    149 (D-109; R-    ..........................  A: 246-172. (Sept. 8, 1993).     
                                           authority.                     40).                                                                          
H. Res. 248, Sept. 9, 1993....  MO        H.R. 2401: National defense    ................  ..........................  PQ: 237-169. A: 234-169. (Sept.  
                                           authorization.                                                               13, 1993).                      
H. Res. 250, Sept. 13, 1993...  MC        H.R. 1340: RTC Completion Act  12 (D-3; R-9)...  1 (D-1; R-0)..............  A: 213-191-1. (Sept. 14, 1993).  
H. Res. 254, Sept. 22, 1993...  MO        H.R. 2401: National Defense    ................  91 (D-67; R-24)...........  A: 241-182. (Sept. 28, 1993).    
                                           authorization.                                                                                               
H. Res. 262, Sept. 28, 1993...  O         H.R. 1845: National            NA..............  NA........................  A: 238-188 (10/06/93).           
                                           Biological Survey Act.                                                                                       
H. Res. 264, Sept. 28, 1993...  MC        H.R. 2351: Arts, humanities,   7 (D-0; R-7)....  3 (D-0; R-3)..............  PQ: 240-185. A: 225-195. (Oct.   
                                           museums.                                                                     14, 1993).                      
H. Res. 265, Sept. 29, 1993...  MC        H.R. 3167: Unemployment        3 (D-1; R-2)....  2 (D-1; R-1)..............  A: 239-150. (Oct. 15, 1993).     
                                           compensation amendments.                                                                                     
H. Res. 269, Oct. 6, 1993.....  MO        H.R. 2739: Aviation            N/A.............  N/A.......................  A: Voice Vote. (Oct. 7, 1993).   
                                           infrastructure investment.                                                                                   
H. Res. 273, Oct. 12, 1993....  MC        H.R. 3167: Unemployment        3 (D-1; R-2)....  2 (D-1; R-1)..............  PQ: 235-187. F: 149-254. (Oct.   
                                           compensation amendments.                                                     14, 1993).                      
H. Res. 274, Oct. 12, 1993....  MC        H.R. 1804: Goals 2000 Educate  15 (D-7; R-7; I-  10 (D-7; R-3).............  A: Voice Vote. (Oct. 13, 1993).  
                                           America Act.                   1).                                                                           
H. Res. 282, Oct. 20, 1993....  C         H.J. Res. 281: Continuing      N/A.............  N/A.......................  A: Voice Vote. (Oct. 21, 1993).  
                                           appropriations through Oct.                                                                                  
                                           28, 1993.                                                                                                    
H. Res. 286, Oct. 27, 1993....  O         H.R. 334: Lumbee Recognition   N/A.............  N/A.......................  A: Voice Vote. (Oct. 28, 1993).  
                                           Act.                                                                                                         
H. Res. 287, Oct. 27, 1993....  C         H.J. Res. 283: Continuing      1 (D-0; R-0)....  0.........................  A: 252-170. (Oct. 28, 1993).     
                                           appropriations resolution.                                                                                   
H. Res. 289, Oct. 28, 1993....  O         H.R. 2151: Maritime Security   N/A.............  N/A.......................  A: Voice Vote. (Nov. 3, 1993).   
                                           Act of 1993.                                                                                                 
H. Res. 293, Nov. 4, 1993.....  MC        H. Con. Res. 170: Troop        N/A.............  N/A.......................  A: 390-8. (Nov. 8, 1993).        
                                           withdrawal Somalia.                                                                                          
H. Res. 299, Nov. 8, 1993.....  MO        H.R. 1036: Employee            2 (D-1; R-1)....  N/A.......................  A: Voice Vote. (Nov. 9, 1993).   
                                           Retirement Act-1993.                                                                                         
H. Res. 302, Nov. 9, 1993.....  MC        H.R. 1025: Brady handgun bill  17 (D-6; R-11)..  4 (D-1; R-3)..............  A: 238-182. (Nov. 10, 1993).     
H. Res. 303, Nov. 9, 1993.....  O         H.R. 322: Mineral exploration  N/A.............  N/A.......................  A: Voice Vote. (Nov. 16, 1993).  
H. Res. 304, Nov. 9, 1993.....  C         H.J. Res. 288: Further CR, FY  N/A.............  N/A.......................  .................................
                                           1994.                                                                                                        
H. Res. 312, Nov. 17, 1993....  MC        H.R. 3425: EPA Cabinet Status  27 (D-8; R-19)..  9 (D-1; R-8)..............  F: 191-227. (Feb. 2, 1994).      
H. Res. 313, Nov. 17, 1993....  MC        H.R. 796: Freedom Access to    15 (D-9; R-6)...  4 (D-1; R-3)..............  A: 233-192. (Nov. 18, 1993).     
                                           Clinics.                                                                                                     
H. Res. 314, Nov. 17, 1993....  MC        H.R. 3351: Alt Methods Young   21 (D-7; R-14)..  6 (D-3; R-3)..............  A: 238-179. (Nov. 19, 1993).     
                                           Offenders.                                                                                                   
H. Res. 316, Nov. 19, 1993....  C         H.R. 51: D.C. statehood bill.  1 (D-1; R-0)....  N/A.......................  A: 252-172. (Nov. 20, 1993).     
H. Res. 319, Nov. 20, 1993....  MC        H.R. 3: Campaign Finance       35 (D-6; R-29)..  1 (D-0; R-1)..............  A: 220-207. (Nov. 21, 1993).     
                                           Reform.                                                                                                      
H. Res. 320, Nov. 20, 1993....  MC        H.R. 3400: Reinventing         34 (D-15; R-19).  3 (D-3; R-0)..............  A: 247-183. (Nov. 22, 1993).     
                                           Government.                                                                                                  
H. Res. 336, Feb. 2, 1994.....  MC        H.R. 3759: Emergency           14 (D-8; R-5; I-  5 (D-3; R-2)..............  PQ: 244-168. A: 342-65. (Feb. 3, 
                                           Supplemental Appropriations.   1).                                           1994).                          
H. Res. 352, Feb. 8, 1994.....  MC        H.R. 811: Independent Counsel  27 (D-8; R-19)..  10 (D-4; R-6).............  PQ: 249-174. A: 242-174. (Feb. 9,
                                           Act.                                                                         1994).                          
H. Res. 357, Feb. 9, 1994.....  MC        H.R. 3345: Federal Workforce   3 (D-2; R-1)....  2 (D-2; R-0)..............  A: VV (Feb. 10, 1994).           
                                           Restructuring.                                                                                               
H. Res. 366, Feb. 23, 1994....  MO        H.R. 6: Improving America's    NA..............  NA........................  A: VV (Feb. 24, 1994).           
                                           Schools.                                                                                                     
H. Res. 384, Mar. 9, 1994.....  MC        H. Con. Res. 218: Budget       14 (D-5; R-9)...  5 (D-3; R-2)..............  A: 245-171 (Mar. 10, 1994).      
                                           Resolution FY 1995-99.                                                                                       
H. Res. 401, Apr. 12, 1994....  MO        H.R. 4092: Violent Crime       180 (D-98; R-82)  68 (D-47; R-21)...........  A: 244-176 (Apr. 13, 1994).      
                                           Control.                                                                                                     
H. Res. 410, Apr. 21, 1994....  MO        H.R. 3221: Iraqi Claims Act..  N/A.............  N/A.......................  A: Voice Vote (Apr. 28, 1994).   
H. Res. 414, Apr. 28, 1994....  O         H.R. 3254: NSF Auth. Act.....  N/A.............  N/A.......................  A: Voice Vote (May 3, 1994).     
H. Res. 416, May 4, 1994......  C         H.R. 4296: Assault Weapons     7 (D-5; R-2)....  0 (D-0; R-0)..............  A: 220-209 (May 5, 1994).        
                                           Ban Act.                                                                                                     
H. Res. 420, May 5, 1994......  O         H.R. 2442: EDA                 N/A.............  N/A.......................  A: Voice Vote (May 10, 1994).    
                                           Reauthorization.                                                                                             
H. Res. 422, May 11, 1994.....  MO        H.R. 518: California Desert    N/A.............  N/A.......................  PQ: 245-172 A: 248-165 (May 17,  
                                           Protection.                                                                  1994).                          
H. Res. 423, May 11, 1994.....  O         H.R. 2473: Montana Wilderness  N/A.............  N/A.......................  A: Voice Vote (May 12, 1994).    
                                           Act.                                                                                                         
H. Res. 428, May 17, 1994.....  MO        H.R. 2108: Black Lung          4 (D-1; R-3)....  N/A.......................  A: VV (May 19, 1994).            
                                           Benefits Act.                                                                                                
H. Res. 429, May 17, 1994.....  MO        H.R. 4301: Defense Auth., FY   173 (D-115; R-    ..........................  A: 369-49 (May 18, 1994).        
                                           1995.                          58).                                                                          
H. Res. 431, May 20, 1994.....  MO        H.R. 4301: Defense Auth., FY   ................  100 (D-80; R-20)..........  A: Voice Vote (May 23, 1994).    
                                           1995.                                                                                                        
H. Res. 440, May 24, 1994.....  MC        H.R. 4385: Natl Hiway System   16 (D-10; R-6)..  5 (D-5; R-0)..............  A: Voice Vote (May 25, 1994).    
                                           Designation.                                                                                                 
H. Res. 443, May 25, 1994.....  MC        H.R. 4426: For. Ops. Approps,  39 (D-11; R-28).  8 (D-3; R-5)..............  PQ: 233-191 A: 244-181 (May 25,  
                                           FY 1995.                                                                     1994).                          
H. Res. 444, May 25, 1994.....  MC        H.R. 4454: Leg Branch Approp,  43 (D-10; R-33).  12 (D-8; R-4).............  A: 249-177 (May 26, 1994).       
                                           FY 1995.                                                                                                     
H. Res. 447, June 8, 1994.....  O         H.R. 4539: Treasury/Postal     N/A.............  N/A.......................  A: 236-177 (June 9, 1994).       
                                           Approps 1995.                                                                                                
H. Res. 467, June 28, 1994....  MC        H.R. 4600: Expedited           N/A.............  N/A.......................  PQ: 240-185 A:Voice Vote (July   
                                           Rescissions Act.                                                             14, 1994).                      
H. Res. 468, June 28, 1994....  MO        H.R. 4299: Intelligence        N/A.............  N/A.......................  A: Voice Vote (July 19, 1994).   
                                           Auth., FY 1995.                                                                                              
H. Res. 474, July 12, 1994....  MO        H.R. 3937: Export Admin. Act   N/A.............  N/A.......................  A: Voice Vote (July 14, 1994).   
                                           of 1994.                                                                                                     
H. Res. 475, July 12, 1994....  O         H.R. 1188: Anti. Redlining in  N/A.............  N/A.......................  A: Voice Vote (July 20, 1994).   
                                           Ins.                                                                                                         
H. Res. 482, July 20, 1994....  O         H.R. 3838: Housing & Comm.     N/A.............  N/A.......................  A: Voice Vote (July 21, 1994).   
                                           Dev. Act.                                                                                                    
H. Res. 483, July 20, 1994....  O         H.R. 3870: Environ. Tech. Act  N/A.............  N/A.......................  A: Voice Vote (July 26, 1994).   
                                           of 1994.                                                                                                     
H. Res. 484, July 20, 1994....  MC        H.R. 4604: Budget Control Act  3 (D-2; R-1)....  3 (D-2; R-1)..............  PQ: 245-180 A: Voice Vote (July  
                                           of 1994.                                                                     21, 1994).                      
H. Res. 491, July 27, 1994....  O         H.R. 2448: Radon Disclosure    N/A.............  N/A.......................  A: Voice Vote (July 28, 1994).   
                                           Act.                                                                                                         
H. Res. 492, July 27, 1994....  O         S. 208: NPS Concession Policy  N/A.............  N/A.......................  A: Voice Vote (July 28, 1994).   
H. Res. 494, July 28, 1994....  MC        H.R. 4801: SBA Reauth &        10 (D-5; R-5)...  6 (D-4; R-2)..............  PQ: 215-169 A: 221-161 (July 29, 
                                           Amdmts. Act.                                                                 1994).                          
H. Res. 500, Aug. 1, 1994.....  MO        H.R. 4003: Maritime Admin.     N/A.............  N/A.......................  A: 336-77 (Aug. 2, 1994).        
                                           Reauth..                                                                                                     
H. Res. 501, Aug. 1, 1994.....  O         S. 1357: Little Traverse Bay   N/A.............  N/A.......................  A: Voice Vote (Aug. 3, 1994).    
                                           Bands.                                                                                                       
H. Res. 502, Aug. 1, 1994.....  O         H.R. 1066: Pokagon Band of     N/A.............  N/A.......................  A: Voice Vote (Aug. 3, 1994).    
                                           Potawatomi.                                                                                                  
H. Res. 507, Aug. 4, 1994.....  O         H.R. 4217: Federal Crop        N/A.............  N/A.......................  A: Voice Vote (Aug. 5, 1994).    
                                           Insurance.                                                                                                   
H. Res. 509, Aug. 5, 1994.....  MC        H.J. Res. 373/H.R. 4590: MFN   N/A.............  N/A.......................  A: Voice Vote (Aug. 9, 1994).    
                                           China Policy.                                                                                                
H. Res. 513, Aug. 9, 1994.....  MC        H.R. 4906: Emergency Spending  N/A.............  N/A.......................  A: Voice Vote (Aug. 17, 1994).   
                                           Control Act.                                                                                                 
H. Res. 512, Aug. 9, 1994.....  MC        H.R. 4907: Full Budget         N/A.............  N/A.......................  A: 255-178 (Aug. 11, 1994).      
                                           Disclosure Act.                                                                                              
H. Res. 514, Aug. 9, 1994.....  MC        H.R. 4822: Cong.               33 (D-16; R-17).  16 (D-10; R-6)............  PQ: 247-185 A: Voice Vote (Aug.  
                                           Accountability.                                                              10, 1994).                      
H. Res. 515, Aug. 10, 1994....  O         H.R. 4908: Hydrogen Etc.       N/A.............  N/A.......................  A: Voice Vote (Aug. 19, 1994).   
                                           Research Act.                                                                                                
H. Res. 516, Aug. 10, 1994....  MC        H.R. 3433: Presidio            12 (D-2; R-10)..  N/A.......................  A: Voice Vote (Aug. 19, 1994).   
                                           Management.                                                                                                  
H. Res. 532, Sept. 20, 1994...  O         H.R. 4448: Lowell Natl. Park.  N/A.............  N/A.......................  .................................
H. Res. 535, Sept. 20, 1994...  O         H.R. 4422: Coast Guard         N/A.............  N/A.......................  A: Voice Vote (Sept. 22, 1994).  
                                           Authorization.                                                                                               
H. Res. 536, Sept. 20, 1994...  MC        H.R. 2866: Headwaters Forest   16 (D-5; R-11)..  9 (D-3; R-6)..............  PQ: 245-175 A: 246-174 (Sept. 21,
                                           Act.                                                                         1994).                          
H. Res. 542, Sept. 23, 1994...  O         H.R. 4008: NOAA Auth. Act....  N/A.............  N/A.......................  A: Voice Vote (Sept. 26, 1994).  
H. Res. 543, Sept. 23, 1994...  O         H.R. 4926: Natl. Treatment in  N/A.............  N/A.......................  .................................
                                           Banking.                                                                                                     
H. Res. 544, Sept. 23, 1994...  O         H.R. 3171: Ag. Dept.           N/A.............  N/A.......................  A: Voice Vote (Sept. 28, 1994).  
                                           Reorganization.                                                                                              
H. Res. 551, Sept. 27, 1994...  MO        H.R. 4779: Interstate Waste    22 (D-15; R-7)..  N/A.......................  A: Voice Vote (Sept. 28, 1994).  
                                           Control.                                                                                                     
H. Res. 552, Sept. 27, 1994...  O         H.R. 4683: Flow Control Act..  N/A.............  N/A.......................  .................................
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Note.--Code: C-Closed; MC-Modified closed; MO-Modified open; O-Open; D-Democrat; R-Republican; PQ: Previous question; A-Adopted; F-Failed.              

  Mr. Speaker, I reserve the balance of my time.
  Ms. SLAUGHTER. Mr. Speaker, for purposes of debate only, I yield 3 
minutes to the gentleman from Massachusetts [Mr. Frank].
  Mr. FRANK of Massachusetts. Mr. Speaker, I thank the gentlewoman for 
yielding time to me. I thank the Committee on Rules for giving us this 
open rule, which was requested by the chairman of the Committee on 
Banking, Finance and Urban Affairs. An earlier version of this 
legislation got bogged down because there were jurisdictional problems 
involving the Committee on Energy and Commerce and the Committee on 
Ways and Means.
  This bill has been redrafted so that it impinges on the jurisdiction 
of no other committee. I share the sentiments of the gentleman from 
California that our goal ought to be to open markets. We regard this as 
a market opener. And as the gentleman said, he has two amendments. I 
would just say, of his amendments, one is better than the other. And we 
will get into the specifics tomorrow. But we believe that the result of 
this will be that more markets will be opened.
  America now has very open markets in the banking area. Others are 
not. All we are saying is, and we are not going to disrupt any existing 
relationships, everybody is grandparented. If one is a foreign bank and 
one is applying to the Federal Reserve or the Office of the Controller 
of the Currency or the FDIC, to any American banking regulator, if the 
Secretary of the Treasury has reported that their host country denies 
access to American banks, the regulator must take that into account. It 
does not even mandate that the regulator must say no. But it does give 
our regulators a tool which we think will result in greater opening. 
That is the purpose of it.
  When we discussed this earlier, some of the financial institutions 
were worried that they might get caught up in cross-sectoral problems, 
that a problem in the securities industry might interfere with banking 
and vice versa.
  This bill is drafted so that no cross-sectoral problems can arise. it 
deals only with banking. Because the Committee on Rules did not waive 
points of order, at our request, any amendment that tried to involve 
securities would be out of order.
  I would intend to make that point of order. I am sure others would. 
So I can reassure Members that none of the cross-sectoral problems will 
come up. No committee jurisdiction problems will come up. It is our 
judgment that this is a useful tool to give our regulators in terms of 
trying to open markets.
  We will discuss it more tomorrow, but that is the essentials of the 
bill.
  I thank both the majority and minority Members of the Committee on 
Rules for this open rule.
  Mr. DREIER. Mr. Speaker, I have no requests for time, and I am very 
enthused about the project of an open rule on legislation which is 
designed to break down barriers and expand export opportunities for 
goods and financial services.
  Mr. Speaker, I yield back the balance of my time.
  Ms. SLAUGHTER. Mr. Speaker, I yield back the balance of my time, and 
I move the previous question on the resolution.
  The previous question was ordered.
  The resolution was agreed to.
  A motion to reconsider was laid in the table.

                          ____________________