JOURNAL OF THE

364

T41.29 MARCH 9

ment’s oil company. In addition, as

added protection in the unlikely event

of default, the United States is requiring Mexico to maintain the value of

the pesos it deposits with the United

States in connection with the mediumterm swaps. Therefore, should the rate

of exchange of the peso against the

U.S. dollar drop during the time the

United States holds pesos, Mexico

would be required to provide the

United States with enough additional

pesos to reflect the rate of exchange

prevailing at the conclusion of the

swap.

I am enclosing a Fact Sheet prepared

by the Department of the Treasury

that provides greater details concerning the terms of the four agreements. I am also enclosing a summary

of the economic policy actions that the

Government of Mexico and the Central

Bank have agreed to take as a condition of receiving assistance.

The agreements we have signed with

Mexico are part of a multilateral effort

involving contributions from other

countries and multilateral institutions. The Board of the International

Monetary Fund has approved up to

$17.8 billion in medium-term assistance

for Mexico, subject to the Mexico’s

meeting appropriate economic conditions. Of this amount, $7.8 billion has

already been disbursed, and additional

conditional assistance will become

available beginning in July of this

year. In addition, the Bank for International Settlements is expected to

provide $10 billion in short-term assistance.

The current Mexican financial crisis

is a liquidity crisis that has had a significant destabilizing effect on the exchange rate of the peso, with consequences for the overall exchange rate

system. The spill-over effects of inaction in response to this crisis would be

significant for other emerging market

economies, particularly those in Latin

America, as well as for the United

States. Using the ESF to respond to

this crisis is therefore plainly consistent with the purpose of 31 U.S.C.

5302(b): to give the United States the

ability to take action consistent with

its obligations in the International

Monetary Fund to assure orderly exchange arrangements and a stable system of exchange rates.

The Mexican peso crisis erupted with

such suddenness and in such magnitude

as to render the usual short-term approaches to liquidity crisis inadequate

to address the problem. To resolve

problems arising from Mexico’s shortterm debt burden, longer term solutions are necessary in order to avoid

further pressure on the exchange rate

of the peso. These facts present unique

and emergency circumstances, and it is

therefore both appropriate and necessary to make the ESF available to

extend credits and loans to Mexico in

excess of 6 months.

WILLIAM J. CLINTON.

THE WHITE HOUSE, March 9, 1995.

By unanimous consent, the message,

together with the accompanying papers, was referred to the Committee on

Banking and Financial Services and ordered to be printed (H. Doc. 104–55).

T41.29 ORDER OF BUSINESS—PRINTING OF

AMENDMENTS—H.R. 1158 AND H.R. 1159

On motion of Mr. SOLOMON, by

unanimous consent,

Ordered, That it may be in order for

Members to have until 5 o’clock p.m.,

Monday, March 13, 1995, to submit

amendments for printing in the Congressional Record on the bill (H.R. 1158)

making emergency supplemental appropriations for additional disaster assistance and making recissions for the

fiscal year ending September 30, 1995,

and for other purposes, and the bill

(H.R. 1159) making supplemental appropriations and rescissions for the fiscal

year ending September 30, 1995, and for

other purposes.

T41.30 COMMITTEES AND SUBCOMMITTEES

TO SIT

On motion of Mr. SOLOMON, by

unanimous consent, the following committees and their subcommittees were

granted permission to sit during the 5-

minute rule on Friday, March 10, 1995:

the Committee on Economic and Educational Opportunities, the Committee

on Government Reform and Oversight,

the Committee on House Oversight, the

Committee on the Judiciary, and the

Committee on Transportation and Infrastructure.

T41.31 LEAVE OF ABSENCE

By unanimous consent, leave of absence was granted—

To Mr. LOBIONDO, for today until 4

p.m.; and

To Mrs. CUBIN, for today after 2:50

p.m. and March 10.

And then,

T41.32 ADJOURNMENT

On motion of Mr. SHAYS, at 11

o’clock and 10 minutes p.m., the House

adjourned.

T41.33 REPORTS OF COMMITTEES ON

PUBLIC BILLS AND RESOLUTIONS

Under clause 2 of rule XIII, reports of

committees were delivered to the Clerk

for printing and reference to the proper

calendar, as follows:

Mr. YOUNG of Alaska: Committee on Resources. H.R. 402. A bill to amend the Alaska

Native Claims Settlement Act, and for other

purposes (Rept. No. 104–73). Referred to the

Committee of the Whole House on the State

of the Union.

T41.34 PUBLIC BILLS AND RESOLUTIONS

Under clause 5 of rule X and clause 4

of rule XXII, public bills and resolutions were introduced and severally referred as follows:

By Mr. CAMP (for himself and Mr.

LEVIN):

H.R. 1178. A bill to amend the Internal Revenue Code of 1986 with respect to the treatment of effectively connected investment income of insurance companies; to the Committee on Ways and Means.

By Mr. CLEMENT (for himself and Mr.

DUNCAN):

H.R. 1179: A bill to authorize appropriations for the preservation and restoration of

historic buildings at historically black colleges and universities; to the Committee on

Resources.

By Mr. UPTON (for himself, Mr. BOUCHER, and Mr. BONIOR):

H.R. 1180. A bill to amend the Solid Waste

Disposal Act to provide congressional authorization for restrictions on receipt of outof-State municipal solid waste and for State

control over transportation of municipal

solid waste, and to clarify the authority for

certain municipal solid waste flow control

arrangements, and for other purposes; to the

Committee on Commerce.

By Mr. FLAKE:

H.R. 1181. A bill to strengthen families receiving aid to families with dependent children through education, job training, savings, and investment opportunities, and to

provide States with greater flexibility in administering such aid in order to help individuals make the transition from welfare to employment and economic independence; to the

Committee on Ways and Means.

By Mr. FRANK of Massachusetts:

H.R. 1182. A bill to permit certain Federal

employees who retired or became entitled to

receive compensation for work injury before

December 9, 1980, to elect to resume coverage

under the Federal employees’ group life insurance program; to the Committee on Government Reform and Oversight.

By Mrs. MALONEY:

H.R. 1183. A bill to amend title II of the Social Security Act to provide more appropriate remedies for failures to report information relating to the earnings test; to the

Committee on Ways and Means.

By Mr. MCCOLLUM (for himself, Mr.

LEACH, Mrs. ROUKEMA, Mr. BEREUTER,

Mr. ROTH, Mr. BAKER of Louisiana,

Mr. LAZIO of New York, Mr. BACHUS,

Mr. CASTLE, Mr. KING, Mr. ROYCE,

Mr. WELLER, Mr. EHRLICH, Mr.

CHRYSLER, Mr. CREMEANS, Mr.

HEINEMAN, and Mr. LOBIONDO):

H.R. 1184. A bill to amend the Truth in

Lending Act to clarify the intent of such act

and to reduce burdensome regulatory requirements on creditors; to the Committee

on Banking and Financial Services.

By Mr. MICA:

H.R. 1185. A bill to amend chapters 83 and

84 of title 5, United States Code, to increase

the percentage of basic pay required to be

contributed by individuals; to change the

method for computing average pay; and for

other purposes; to the Committee on Government Reform and Oversight.

By Mr. OXLEY:

H.R. 1186. A bill to provide for the safety of

journeymen boxers, and for other purposes;

to the Committee on Economic and Educational Opportunities, and in addition to

the Committee on Commerce, for a period to

be subsequently determined by the Speaker,

in each case for consideration of such provisions as fall within the jurisdiction of the

committee concerned.

By Mr. PETRI (for himself (by request)

and Mr. LAUGHLIN):

H.R. 1187. A bill to increase the safety for

the public health and the environment by reducing the risks associated with the pipeline

transportation of natural gas and hazardous

liquids, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on

Commerce, for a period to be subsequently

determined by the Speaker, in each case for

consideration of such provisions as fall within the jurisdiction of the committee concerned.

By Mr. RAHALL:

H.R. 1188. A bill to provide for the preservation of the coal mining heritage of southern West Virginia, and for other purposes; to

the Committee on Resources.