Excerpt from H. R. 3248; The Fair Trade in Financial Services Act of 1993: Hearing Before the Subcommittee on Financial Institutions Supervision, Regulation and Deposit Insurance of the Committee on Banking, Finance and Urban Affairs; House of Representatives; February 1, 1994 National treatment means that the host country treats foreign banks the same as its own banks. It offers them the same rights and privileges and subjects them to the same rules and regulations, without discrimination. It also means, as defined in this legislation, that foreign financial firms enjoy fair access to their markets. The United States has traditionally adopted something close to national treatment as its basic norm. National treatment has been the objective of our gatt negotiators on financial services. This legislation, however, explicitly authorizes discrimination against banks and securities firms from countries that deny national treat ment to u.s. Banks. The administration supports it in the hope that the threat of retaliatory discrimination will finally persuade other countries to open their financial markets to u.s. Firms and treat them fairly. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.