COMMITTEE ON BANKING, FINANCE AND HOUSE OF REPRESENTATIVES ONE HUNDRED FIRST CONGRESS FIRST SESSION 124 NOVEMBER 15, 1989 Printed for the use of the Committee on Banking, Finance and Urban Affairs Serial No. 101-65 24-419 U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1989 For sale by the Superintendent of Documents, Congressional Sales Office HOUSE COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS HENRY B. GONZALEZ, Texas, Chairman FRANK ANNUNZIO, Illinois WALTER E. FAUNTROY, District of Columbia STEPHEN L. NEAL, North Carolina CARROLL HUBBARD, Jr., Kentucky JOHN J. LAFALCE, New York MARY ROSE OAKAR, Ohio CHARLES E. SCHUMER, New York BEN ERDREICH, Alabama THOMAS R. CARPER, Delaware ESTEBAN EDWARD TORRES, California GERALD D. KLECZKA Wisconsin BILL NELSON, Florida PAUL E. KANJORSKI Pennsylvania ELIZABETH J. PATTERSON, South Carolina C. THOMAS MCMILLEN, Maryland DAVID E. PRICE, North Carolina NANCY PELOSI, California JIM MCDERMOTT, Washington PETER HOAGLAND, Nebraska RICHARD E. NEAL, Massachusetts CHALMERS P. WYLIE, Ohio JIM LEACH, Iowa NORMAN D. SHUMWAY, California STAN PARRIS, Virginia BILL MCCOLLUM, Florida MARGE ROUKEMA, New Jersey DOUG BEREUTER, Nebraska DAVID DREIER, California JOHN HILER, Indiana THOMAS J. RIDGE, Pennsylvania STEVE BARTLETT, Texas TOBY ROTH, Wisconsin ALFRED A. (Al) MCCANDLESS, California JIM BUNNING, Kentucky RICHARD H. BAKER, Louisiana CLIFF STEARNS, Florida PAUL E. GILLMOR, Ohio BILL PAXON, New York ELIZABETH J. PATTERSON, South Carolina BILL PAXON, New York RICHARD E. NEAL, Massachusetts (II) 90-601097 Choate, Pat, vice president of policy analysis, TRW, Inc.. Richardson, Elliot L., chairman, Association for International Investment, Washington, DC; accompanied by Dr. Samuel M. Rosenblatt, president; and Bradley R. Larschan, Esq., Milbank, Tweed, Hadley and McCloy, corporate Tolchin, Susan, professor of public administration, School of Government, George Washington University; accompanied by Cynthia Stachelberg, grad- Canner, Stephen J., letter from Elliot L. Richardson dated September 12, 1989 Choate, Pat and Dr. Susan Tolchin, response to questions...... Richardson, Elliot L., response to questions from Hon. Mary Rose Oakar United States General Accounting Office: Report entitled "Competitive Concerns of Foreign Financial Firms in Japan, the United Kingdom, and the United States" dated June 1988..... Report entitled "Market Access Concerns of U.S. Financial Institutions in |