Page:United States Statutes at Large Volume 102 Part 2.djvu/381

 PUBLIC LAW 100-418—AUG. 23, 1988

102 STAT. 1385

"(ID not less than 4 consecutive years of operations of such company (not including any portion of the period referred to in subclause (I)) shall be taken into account in making any such determination, "(ii) EXPORT REVENUE REQUIREMENTS.—A company

shall not be treated as operated principally for the purposes described in subparagraph (F)(i) unless— "(I) the revenues of such company from the export, or facilitating the export, of goods or services produced in the United States exceed the revenues of such company from the import, or facilitating the import, into the United States of goods or services produced outside the United States; and "(Q) at least Vz of such company's total revenues are revenues from the export, or facilitating the export, of goods or services produced in the United States by persons not affiliated with such company.". (b) LEVERAGE.—Section 4(c)(14XA) of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(c)(14XA)) is amended by redesignating clauses (v) and (vi) as clauses (vi) and (vii), respectively, and by inserting after clause (iv) the following new clause: "(v) LEVERAGE.—The Board may not disapprove any pro- Securities. posed investment solely on the basis of the anticipated or proposed asset-to-equity ratio of the export trading company with respect to which such investment is proposed, unless the anticipated or proposed annual average asset-toequity ratio is greater than 20-to-l.". (c) INVENTORY.—Section 4(c)(14XA)) of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(c)(14)) is amended by inserting after subparagraph (G) (as added by subsection (a) of this section) the following new subparagraph: "(H) INVENTORY.— "(i) N O GENERAL LIMITATION.—The Board may not

prescribe by regulation any maximum dollar amount limitation on the value of goods which an export trading company may maintain in inventory at any time. "(ii) SPECIFIC LIMITATION BY ORDER.—Notwithstand-

ing clause (i), the Board may issue an order establishing a maximimi dollar amount limitation on the value of goods which a particular export trading company may maintain in inventory at any time (after such company has been operating for a reasonable period of time) if the Board finds that, under the facts and circumstances, such limitation is necessary to prevent risks that would affect the financial or managerial resources of an investor bank holding company to an extent which would be likely to have a materially adverse effect on the safety and soundness of any subsidiary bank of such bank holding company.".

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