Competitiveness of U.S. Insurance Companies, Financial Service System, and Non-bank Financial Firms: Hearings Before the Subcommittee on Financial Institutions Supervision, Regulation and Insurance, Task Force on International Competitiveness of U.S. Financial Institutions of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred First Congress, Second Session, July 24, 26 and August 1, 1990 |
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abroad affiliates American assets Bank Holding Company banking and commerce banking industry banking system BARNARD barriers BHCA billion capital markets Chairman LAFALCE changes commercial banking commercial banking organizations compete COMPETITIVENESS OF U.S. Congress Council deposit insurance depository institutions deregulation developments Discover Card domestic DREIER Europe European Community FDIC financial firms financial services industry FIRREA Ford Motor Company FRIEDMAN GATT Glass-Steagall Act GLAUBER insurance companies insurance industry international competitiveness International Insurance interstate banking investment investors issues Japan Japanese banks LACKRITZ legislation national treatment nonbanking operations overseas permitted problems profitable regulation restrictions restructuring risk safety and soundness savings and loan Sears securities business securities industry separation of banking service trade subsidiary task force taxpayer transactions U.S. banks U.S. financial services U.S. firms U.S. funds U.S. insurers U.S. market U.S. mutual fund U.S. securities firms UCITS underwriting United universal banking Yes Yes
Popular passages
Page 29 - Board, the Comptroller of the Currency, the Office of Thrift Supervision, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of...
Page 139 - Currency, the Board of Governors of the Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration and the Office.
Page 68 - I appreciate the invitation to be here this morning to conrnent on international trade in insurance. Accompanying me is Council President Gordon Cloney. The International Insurance Council is the organization through which US insurers address international trade matters. The Council is needed because each major sector of US insurance, life insurance, non-life insurance and reinsurance, has separate national organizations and it is necessary to coordinate trade policy thinking on behalf of our international...
Page 9 - President of the Investment Company Institute, which is the national association of the American mutual fund industry.
Page 70 - And by the mid 1980s other governments came to recognize the US call to , eliminate trade barriers to internationally traded services would not go away. They also recognized the issue was as important to them too. Current Efforts to Improve Trading Conditions... We are meeting today at a time when progress in rolling back barriers to international insurance trade is moving forward on two fronts. There is the bilateral front Over recent years have seen a number of countries opening heretofore closed...
Page 100 - For example, it is inconceivable that any major bank would walk away from any subsidiary of its holding company. If your name is on the door, all of your capital funds are going to be behind it in the real world. Lawyers can say you have separation, but the marketplace is persuasive, and it would not see it that way.
Page 80 - Tables Draft of Proposed Service Trade Agreement at GATT. Mr. GEJDENSON. Thank you. I have already had in the last, I think, two months, one of the Connecticut companies come in and talk to us about their overseas efforts and, I think, maybe even two.
Page 69 - US direct insurers and reinsurers found themselves being driven from markets by a wave of trade discrimination. The discriminatory practices fit into three general classes: First and most formidable were those practices simply closing a market to the US insurer by nationalization or domestication of the market. These practices denied market access to the US insurer. A second class of discriminatory practices made it virtually impossible to set up, license, and organize an effective establishment...
Page 70 - In 1974 a handful of service industries, led by the insurers, organized under the umbrella of the US Chamber of Commerce to cause these provisions to be used by the executive branch thus beginning the emergence of the US service sector as a voice in trade policy matters. In 1976 the US executive...
Page 203 - System before the Subcommittee on Commerce, Consumer, and Monetary Affairs of the Committee on Government Operations...