Page:United States Statutes at Large Volume 102 Part 2.djvu/384

 102 STAT. 1388

PUBLIC LAW 100-418—AUG. 23, 1988

(3) achieving reasonable comparability in the t3^pes of financial services permissible for financial service companies; and (4) developing uniform supervisory standards for banking organizations and securities companies, including uniform capital standards. (b) CONSULTATION BEFORE DISCUSSIONS.—Before entering into those discussions, the President or his designee shall consult with the committees of jurisdiction in the Senate and the House of Representatives. (c) RECOAIMENDATIONS.—After completing those discussions and after consultation with the committees of jurisdiction, the President shall transmit to the Congress any recommendations that have emerged from those discussions. Any recommendations for changes in United States financial laws or practices shall be accompanied by a description of the changes in foreign &iancial laws or practices that would accompany action by the Congress, and by an explanation of the benefits that would accrue to the United States from adoption of the recommendations. (d) CONSTRUCTION OF SECTION.—Nothing in this section may be construed as prior approval of any legislation which may be necessary to implement any recommendations resulting from discussions under this section. Reports. 22 USC 5354.

Agricultural Competitiveness and Trade Act of 1988 7 USC 5201 note.

SEC. 3604. BANKS LOAN LOSS RESERVES.

The Federal Reserve Board shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Banking, Finance and Urban Affairs of the House of Representatives a report on the issues raised by including loan loss reserves as part of banks' primary capital for r ^ u l a to r y purposes by March 31, 1989. Such report shall include a review of the treatment of loan loss reserves and the composition of primary capital of banks in other major industrialized countries, and shall include an analysis as to whether loan loss reserves should continue to be counted as primary capital for regulatory purposes.

TITLE IV—AGRICULTURAL TRADE SEC. 4001. SHORT TITLE.

This title may be cited as the "Agricultural Competitiveness and Trade Act of 1988".

Subtitle A—Findings, Policy, and Purpose 7 USC 5201.

SEC. 4101. FINDINGS.

Congress finds that— (1) United States agricultural exports have declined by more than 36 percent since 1981, from $43,800,000,000 in 1981 to $27,900,000,000 in 1987; (2) the United States share of the world market for agricultural commodities and products has dropped by 20 percent during the last 6 years; (3) for the first time in 15 years, the United States incurred monthly agricultural trade deficits in 1986;

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