An original bill to encourage exports by facilitating the formation and operation of export trading companies, export trade associations, and the expansion of export trade services generally.

(Conference report filed in Senate, S. Rept. 97-644) Title I: General Provisions - Export Trading Company Act of 1982 - Establishes within the Department of Commerce an office to: (1) promote the formation of export trade associations and export trading companies; (2) provide information; and (3) facilitate contacts between producers of exportable goods and firms offering export trade services. Title II: Bank Export Services - Bank Export Services Act - Declares that it is the purpose of this title to provide for participation by bank holding companies, bankers' banks, and Edge Act corporations in the financing and development of export trading companies. Expresses the intent of Congress that the Federal Reserve Board should pursue regulatory policies that: (1) provide for the establishment of competitive export trading companies; (2) provide U.S. commerce, industry, and agriculture a means of exporting at all times; (3) foster the participation by regional and smaller banks in the development of export trading companies; and (4) facilitate the formation of joint venture export trading companies. Amends the Bank Holding Company Act of 1956 to permit bank holding companies to invest in shares of any export trading company whose acquisition or formation by a bank holding company has not been disapproved by the Federal Reserve Board. Limits the investments in such shares to not more than five percent of the bank holding company's consolidated capital and surplus. Establishes a procedure for the review of proposed investments in export trading companies. Prohibits the total amount of extensions of credit to an export trading company by a bank holding company which invests in an export trading company, when combined with all such extensions of credit by all the subsidiaries of such holding company, from exceeding ten percent of the holding company's consolidated capital and surplus. Prohibits any investing bank holding company or any of its subsidiaries from extending credit to an export trading company on terms more favorable than those afforded to other borrowers. Permits an export trading company, for the purposes of this title, to engage in or hold shares of a company engaged in the business of underwriting, selling, or distributing securities within the United States only to the extent that any bank holding company which invests in such export trading company may do so under applicable Federal and State banking laws and regulations. Prohibits an export trading company from engaging in agricultural production activities or in manufacturing except for incidental product modification necessary to conform goods or services to foreign country requirements and to facilitate their sale in foreign countries. Permits the Federal Reserve Board to require a bank holding company which invests in an export trading company to terminate its investment or be made subject to limitations or conditions, whenever the export trading company takes unnecessary positions in commodities or commodities contracts, in securities, or in foreign exchange. Permits Edge Act corporations which are subsidiaries of bank holding companies or agreement corporations which are subsidiaries of bank holding companies to invest, to a limited extent, in export trading companies. Requires the Federal Reserve Board to report to specified congressional committees within two years of enactment of this Act on: (1) the implementation of the banking provisions; (2) legislative changes needed to facilitate the financing of U.S. exports; and (3) recommendations on the effects of the ownership of U.S. banks by foreign banking organizations affiliated with trading companies doing business in the United States. Directs the Export-Import Bank of the United States to provide loan guarantees for expansion to export trading companies or exporters when adequate financing is not otherwise available. Requires such loan guarantees to be secured by accounts receivable or inventories. Directs the Board of Directors to try to insure that a major share of such guarantees promotes exports from small, medium-size, and minority businesses or agricultural concerns. Raises the ceiling on the aggregate amount of not-fully-secured acceptances which a member bank and any Federal or State branch or agency of a foreign bank can create with respect to the importation, exportation, or domestic shipment of goods. Increases such limitation from one-half to 150 percent of the capital stock or, with the Federal Reserve Board's permission, twice the amount of the capital stock. Limits the aggregate acceptances growing out of domestic transactions to not more than 50 percent of the aggregate of all acceptances. States that such limitations do not apply to any acceptance which is issued by an institution and which is covered by a participation agreement from other banks or regulated corporations, except to the extent that the issuing bank retains or purchases such acceptance. Defines the capital of a U.S. branch or agency of a foreign bank to be the dollar equivalent of the paid-up capital stock and surplus of the foreign bank, as determined by the Board. Title III: Export Trade Certificates of Review - Authorizes the Secretary of Commerce, in order to encourage export trade, to issue certificates of review and to assist persons applying for such certificates. Requires a person requesting a certificate to submit to the Secretary an application which specifies conduct limited to export trade and which is in the proper form. Provides for notice of the application to be published in the Federal Register. Directs the Secretary to issue a certificate within 90 days of receipt of the application if the Secretary, with the concurrence of the Attorney General, finds that the applicant's activities will: (1) not substantially lessen competition, or restrain trade within the United States, or substantially restrain the export trade of a competitor; (2) not unreasonably affect prices within the United States of the things exported by the applicant; (3) not constitute unfair methods of competition against exporting competitors; and (4) not include any act that may reasonably be expected to result in the sale within the United States of the things exported by the applicant. Requires the certificate to specify: (1) the export trade, export trade activities, and methods of operation to which the certificate applies; (2) the person to whom the certificate is issued; and (3) any conditions necessary to assure compliance with the standards for issuance. Permits an expedited application procedure. Requires the Secretary to explain a denial of an application. Permits an applicant to request the Secretary to reconsider a denied application. Provides for returning all application documents if an application is denied. Declares that certificates obtained by fraud are void. Requires applicants who receive certificates to report to the Secretary any changes related to the matters specified in the certificate. Authorizes such an applicant to submit an application to amend the certificate. Directs the Secretary to request additional information from a certificate holder if the Secretary or the Attorney General has reason to believe that the export trade, export trade activities, or methods of operation of such person no longer comply with the certificate standards. Makes failure to comply with such request grounds for revoking the certificate. Sets forth the procedure for revoking a certificate. Provides for judicial review of the granting, denial, revocation, or modification of a certificate of review. Prohibits a criminal or civil antitrust suit which is based on conduct specified in and complying with a certificate of review. Exempts from such prohibition civil suits for failure to comply with the standards necessary for issuance of the certificate. Requires the court to award the defendant in such a suit the cost of defending against the claim, if the court finds that the conduct does comply with the certificate's standards. Authorizes the Attorney General, notwithstanding the general prohibition, to sue under the Clayton Act to enjoin conduct threatening clear and irreparable harm to the national interest. Authorizes the Secretary to issue guidelines: (1) describing types of conduct with respect to which the Secretary, with the concurrence of the Attorney General, has made or would make determinations on the issuance, amendment, or revocation of a certificate; and (2) summarizing the bases for the determinations. Exempts the guidelines from certain requirements of the Administrative Procedures Act. Requires every person to whom a certificate is issued to update annually the information provided on the application for issuance of the certificate. Exempts from disclosure under the Freedom of Information Act any information submitted by a person in connection with a certificate of review. Prohibits any Federal employee from disclosing commercial or financial information submitted in connection with a certificate of review, if the information is privileged or confidential and if disclosure of the information would harm the person who submitted the information. Lists specific exemptions to such prohibition. Title IV: Foreign Trade Antitrust Improvements - Foreign Trade Antitrust Improvements Act of 1982 - Amends the Sherman Act to provide that such Act shall not apply to conduct involving trade or commerce with foreign nations, other than import transactions, unless such conduct has a direct, substantial, and reasonably foreseeable effect on domestic or import commerce or on the export business of a domestic person. Amends the Federal Trade Commission Act to provide that such Act shall not prohibit unfair methods of competition involving commerce, other than import commerce, with foreign nations unless such methods have a direct, substantial, and reasonably foreseeable effect on domestic or import commerce or on the export commerce of a domestic person.

(Measure passed House, amended, in lieu of H.R. 1799 and H.R. 6016) Export Trading Company Act of 1982 - Title I: General Provisions - Establishes within the Department of Commerce an office to: (1) promote the formation of export trade associations and export trading companies; (2) provide information; and (3) facilitate contacts between producers of exportable goods and firms offering export trade services. Title II: Bank Export Services - Bank Export Services Act - Amends the Bank Holding Company Act of 1956 to permit bank holding companies to invest in shares of any export trading company whose acquisition or formation by a bank holding company has not been disapproved by the Federal Reserve Board. Limits the investments in such shares to not more than five percent of the bank holding company's consolidated capital and surplus. Establishes a procedure for the review of proposed investments in export trading companies. Prohibits the total amount of extensions of credit to an export trading company by a bank holding company which invests in an export trading company, when combined with all such extensions of credit by all the subsidiaries of such holding company, from exceeding ten percent of the holding company's consolidated capital and surplus. Prohibits any investing bank holding company or any of its subsidiaries from extending credit to an export trading company on terms more favorable than those afforded to other borrowers. Permits an export trading company, for the purposes of this Act, to engage in or hold shares of a company engaged in the business of underwriting, selling, or distributing securities within the United States only to the extent that any bank holding company which invests in such export trading company may do so under applicable Federal and State banking laws and regulations. Prohibits an export trading company from engaging in agricultural production activities or in manufacturing except for incidental product modification necessary to conform goods or services to foreign country requirements and to facilitate their sale in foreign countries. Permits the Federal Reserve Board to require a bank holding company which invests in an export trading company to terminate its investment or be made subject to limitations or conditions, whenever the export trading company takes unnecessary positions in commodities or commodities contracts, in securities, or in foreign exchange. Raises the ceiling on the aggregate amount of not-fully-secured acceptances which a member bank and any Federal or State branch or agency of a foreign bank can create with respect to the importation, exportation, or domestic shipment of goods. Increases such limitation from one-half to 150 percent of the capital stock or, with the Federal Reserve Board's permission, twice the amount of the capital stock. Limits the aggregate acceptances growing out of domestic transactions to not more than 50 percent of the aggregate of all acceptances. States that such limitations do not apply to any acceptance which is issued by an institution and which is covered by a participation agreement from other banks or regulated corporations, except to the extent that the issuing bank retains or purchases such acceptance. Defines the capital of a U.S. branch or agency of a foreign bank to be the dollar equivalent of the paid-up capital stock and surplus of the foreign bank, as determined by the Board. Title III: Export Trade Certificates of Review - Authorizes the Attorney General, in order to encourage export trade, to issue certificates of review. Authorizes the Secretary of Commerce to assist persons applying for certificates of review. Requires a person requesting a certificate of review to submit an application to the Secretary or the Attorney General. Provides for notice of the application to be published in the Federal Register. Directs the Attorney General to issue a certificate of review if the application for the certificate specifies conduct limited to export trade and includes any other information required by regulations issued by the Attorney General. Authorizes the Attorney General not to issue a certificate if the conduct specified in the application is likely to violate the antitrust laws. Directs the Attorney General to determine within a specified time whether the conduct specified in the application is likely to violate the antitrust laws. Directs the Attorney General to explain a determination that the conduct specified in an application is likely to violate the antitrust laws. Provides for returning all application documents if an application is denied. Directs the Attorney General to specify in each certificate that is issued: (1) the conduct to which the certificate applies; (2) the business entities participating in the conduct; and (3) any conditions applicable to the conduct. Declares that certificates obtained by fraud are void. Requires persons who receive certificates to report any changes related to the matters specified by the Attorney General in the certificate. Authorizes such a person to submit an application to amend the certificate to reflect the change. Directs the Attorney General to modify or revoke the certificate if the Attorney General determines at any time that the conduct engaged in under the certificate violates or is likely to violate the antitrust laws. Authorizes the person to whom the certificate was issued to sue in Federal district court to set aside such determination. Prohibits any other judicial review of determinations by the Attorney General with respect to issuing, modifying, or revoking such certificates. States that no such determination by the Attorney General shall be admissible in evidence in any judicial or administrative proceeding to support any claim under the antitrust laws. Protects a person to whom a certificate is issued from a criminal or civil suit for violation of the Federal or State antitrust laws, if the violation arises from conduct specified in the certificate and if the certificate is in effect at the time the conduct occurs. Protects such a person from liability for damages exceeding actual damages, the loss of interest on actual damages, and the cost of suit. Requires the court to award to a person who is sued under section four of the Clayton Act the cost of defending against the claim if the court finds that: (1) the conduct alleged to violate the antitrust laws does not violate the antitrust laws; (2) the conduct is conduct specified in a certificate of review; and (3) the certificate was in effect at the time the conduct occurred. Provides protection against private injunctive suits based upon threatened rather than actual injury. Prohibits a certificate from having any effect on the authority of a court to grant equitable relief in any other action for violation of antitrust laws against a person issued a certificate. Authorizes modification or revocation of a certificate as a form of equitable relief. Exempts from disclosure under the Freedom of Information Act any information submitted by a person in connection with a certificate of review. Prohibits any Federal employee from disclosing commercial or financial information submitted in connection with a certificate of review, if the information is privileged or confidential and if disclosure of the information would harm the person who submitted the information. Lists specific exemptions to such prohibition. Authorizes the Attorney General to issue guidelines; (1) describing specific types of conduct with respect to which the Attorney General has made or would make a determination that the conduct violates or is likely to violate the antitrust laws; and (2) summarizing the factual and legal bases for such determinations. Exempts the guidelines from certain requirements of the Administrative Procedures Act.

(Measure passed Senate, amended, roll call #83 (93-0)) Title I: Export Trading Companies - Export Trading Company Act of 1981 - Directs the Secretary of Commerce to promote export trading companies by providing information by facilitating contracts between producers of exportable goods and export trading companies. Authorizes any banking organization to invest specified amounts in export trading companies upon notifying, but without obtaining the prior approval of, the appropriate Federal banking agency, if such investment does not cause any export trading company to become a subsidiary of such organization. Allows greater investment by Edge Act Corporations not engaged in banking. Permits any banking organization to invest beyond such limitations with prior approval of the appropriate Federal banking agency. Requires prior notification of such agencies in specified circumstances. Sets forth further limitations on export trading companies and investments by banking organizations. Specifies factors to be taken into consideration by the banking agencies. Permits such agencies to impose conditions in approving applications to invest in export trading companies. Requires such agencies to report to the appropriate Congressional committees with their recommendations concerning implementation of this Act, related changes in U.S. law, and effects of ownership of U.S. banks by foreign banking organizations. Authorizes the appropriate Federal banking agency to exempt from specified requirements of the Federal Reserve Act any loan or extension of credit made by a national or State bank to an export trading company affiliate if such exemption is necessary to finance an affiliated export trading company and does not expose the bank to undue financial risks. Provides for judicial review of denial orders in the appropriate U.S. Court of Appeals. Sets forth the grounds for disapproval. Provides for a remand for further consideration by the banking agency. Directs the Export-Import Bank of the United States to provide loan guarantees for expansion to export trading companies or exporters when adequate financing is not otherwise available. Requires such loan guarantees to be secured by accounts receivable or inventories. Directs the Board of Directors to try to insure that a major share of such guarantees promotes exports from small, medium-size, and minority businesses or agricultural concerns. Title II: Export Trade Associations - Export Trade Association Act of 1981 - Amends the Webb-Pomerene Act to exempt the trade, activities, and methods of operation of certified export trade associations and export trading companies from the antitrust laws. Delays the effectiveness of any certificate upon the notification of the Secretary of Commerce by the Attorney General or the Federal Trade Commission (FTC) of disagreement with the decision to issue a certificate. Sets forth the procedure to be followed by any association or export trading company seeking certification under this Act and by the Secretary in issuing such certificates. Permits automatic certification for existing associations. Provides for appeal of the Secretary's denial of certification. Requires firms to report changes in membership, export trade activities, or methods of operation to the Secretary and to apply for an amendment of their certificates. Directs the Secretary to revoke a firm's certificate if it does not comply with the requirements for an antitrust exemption or to amend such certificate so that it does comply with such requirements. Authorizes the Attorney General or the FTC to bring an action to revoke certification. Provides for judicial review of such actions. Requires the Secretary, in consultation with the Attorney General and the FTC, to publish certification guidelines. Requires certified associations and export trading companies to submit annual reports to the Secretary. Requires, with specified exceptions, that all applications for certification be kept confidential. Authorizes the Secretary to require an association or trading company to modify its operation to be consistent with international obligations of the United States. Directs the President to appoint, with the Senate's advice and consent, a task force, seven years after enactment, to examine the effect of this Act and to make recommendations. Makes the amendments of the Webb-Pomerene Act set forth in this Act effective with regard to existing associations only at such time as such associations elect to be certified.

Title I: Export Trading Companies - Export Trading Company Act of 1981 - Directs the Secretary of Commerce to promote export trading companies by providing information and by facilitating contacts between producers of exportable goods and export trading companies. Authorizes any banking organization to invest specified amounts in export trading companies upon notifying, but without obtaining the prior approval of, the appropriate Federal banking agency, if such investment does not cause an export trading company to become a subsidiary of such organization. Allows greater investment by Edge Act Corporations not engaged in banking. Permits any banking organization to invest beyond such limitations with prior approval of the appropriate Federal banking agency. Requires prior notification of such agencies in specified circumstances. Sets forth further limitations on export trading companies and investments by banking organizations. Specifies factors to be taken into consideration by the banking agencies. Permits such agencies to impose conditions in approving applications to invest in export trading companies. Requires such agencies to report to the appropriate Congressional committees with their recommendations concerning implementation of this Act, related changes in U.S. law, and effects of ownership of U.S. banks by foreign banking organizations. Authorizes the appropriate Federal banking agency to exempt from specified requirements of the Federal Reserve Act any loan or extension of credit made by a national or State bank to an export trading company affiliate if such exemption is necessary to finance an affiliated export trading company and does not expose the bank to undue financial risks. Provides for judicial review of denial orders in the appropriate U.S. Court of Appeals. Sets forth the grounds for disapproval. Provides for a remand for further consideration by the banking agency. Directs the Economic Development Administration and the Small Business Administration to give special weight to export-related benefits when considering applications for loans and guarantees by export trading companies. Authorizes up to $10,000,000 to be appropriated for initial investments and operating expenses for each of fiscal years 1982-1986. Directs the Export-Import Bank of the United States to provide loan guarantees for expansion to export trading companies or exporters when adequate financing is not otherwise available. Requires such loan guarantees to be secured by accounts receivable or inventories. Directs the Board of Directors to try to insure that a major share of such guarantees promotes exports from small, medium-size, and minority businesses or agricultural concerns. Authorizes the Secretary to make grants to subsidize the employment of export managers by small business manufacturing firms which have not previously been substantial exporters. Limits such grants to the lesser of: (1) 50 percent of the expenses related to employing a full-time export manager for one year; or (2) $40,000. Sets forth the requirements for an application by a firm for such grant and the factors the Secretary shall consider in making such grants. Authorizes appropriations for each of fiscal years 1982-1984 to carry out this grant program. Directs the Secretary to evaluate this program and to submit such evaluation and any recommendation to Congress by a specified date. Title II: Export Trade Association - Export Trade Association Act of 1981 - Amends the Webb-Pomerene Act to exempt the trade, activities and methods of operation of certified export trade associations and export trading companies from the antitrust laws. Delays the effectiveness of any certificate upon the notification of the Secretary of Commerce by the Attorney General or the Federal Trade Commission (FTC) of disagreement with the decision to issue a certificate. Sets forth the procedure to be followed by any association or export trading company seeking certification under this Act and by the Secretary in issuing such certificates. Permits automatic certification for existing associations. Provides for appeal of the Secretary's denial of certification. Requires firms to report changes in membership, export trade activities, or methods of operation to the Secretary and to apply for an amendment of their certificates. Directs the Secretary to revoke a firm's certificate if it does not comply with the requirements for an antitrust exemption or to amend such certificate so that it does comply with such requirements. Authorizes the Attorney General or the FTC to bring an action to invalidate certification. Provides for judicial review of such actions. Requires the Secretary, in consultation with the Attorney General and the FTC, to publish certification guidelines. Requires certified associations and export trading companies to submit annual reports to the Secretary. Directs the Secretary to establish within the Department of Commerce an Office of Export Trade. Requires such Office to report annually to the appropriate Congressional committees on all East-West trade transactions requiring validated licenses and on the role of U.S. export trading companies in such trade. Requires, with specified exceptions, that all applications for certification be kept confidential. Authorizes the Secretary to require an association or trading company to modify its operation to be consistent with international obligations of the United States. Directs the President to appoint, with the Senate's advice and consent, a task force, seven years after enactment, to examine the effect of this Act and to make recommendations. Makes the amendments of the Webb-Pomerene Act set forth in this Act effective with regard to existing associations only at such time as such associations elected to be certified.