[Weekly Compilation of Presidential Documents Volume 30, Number 37 (Monday, September 19, 1994)]
[Pages 1762-1763]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on Senate Action on Banking Legislation

September 13, 1994

    Today this country took an historic step, one that has been delayed 
for much too long, to help American banks better meet the needs of our 
people, our communities, and

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our economy. By joining the House in passing the interstate banking 
bill, the Senate has gone beyond gridlock to eliminate unnecessary 
barriers to the competitiveness and efficiency of our banking system 
while preserving essential prerogatives of the States.
    We also welcome the bill's requirement that the Treasury, with the 
assistance of a broadly representative advisory committee, study and 
make recommendations on the future shape of financial services in the 
United States. American banks have shown over the last several years 
that they can combine high quality service for all with strong financial 
performance. Enactment of the interstate bill and the community 
development and regulatory improvement legislation will help them 
continue that record.