The U.S. Federal Reserve reportedly has an arrangement with the Bank of Japan to provide emergency loans to Japanese banks operating overseas in exchange for U.S. Treasury securities. The collateralized loans would be extended on short notice for banks facing emergency liquidity needs. The purpose of the arrangement is to forestall the possible sale by Japanese banks of large amounts of U.S. Government securities (thereby raising U.S. interest rates) and to boost confidence in Japan's financial system. The loans would not risk U.S. taxpayers' funds. The Chairmen of both House and Senate Banking Committees have made statements about the arrangement, thus making it a matter oflegislative interest.

Under the auspices of the General Agreement on Tariffs and Trade (GATT), eight rounds of trade negotiations lowered tariffs of developed countries to an average 3.9 percent. New areas, such as services, intellectual property rights, agriculture, and textiles and apparel, were brought under the discipline of the GATT for the first time in the Uruguay Round. The World Trade Organization (WTO), a permanent entity agreed on during the Uruguay Round, went into effect January 1, 1995. Multilateral trade issues for the future include continuing services negotiations, the relationship of the environment and labor standards to trade, and investment and competition policy.

The House Subcommittee on Technology, Environment, and Aviation of the House Committee on Science, Space, and Technology (103rd Congress) requested that Congressional Research Service (CRS) hold a workshop on the tools and techniques of ecosystem management. The purposes of this workshop were to demonstrate tools and techniques used in scientific research on ecosystems and to address technological aspects of developing and administering a national policy for ecosystem management.

In 1993, the Clinton Administration proposed eliminating many natural resource "subsidies" and increasing fees for many Federal services. Among the proposals advanced were increases in existing grazing and recreation fees and new mining and commercial fishing fees. Other proposals would have affected timber sales and water deliveries from Federal projects. Many of these proposals have been advanced by fiscal conservatives in the 104th Congress to reduce the Federal budget deficit.

The House Subcommittee on Technology, Environment, and Aviation of the House Committee on Science, Space, and Technology (103rd Congress) requested that Congressional Research Service (CRS) hold a workshop on the tools and techniques of ecosystem management. The purposes of this workshop were to demonstrate tools and techniques used in scientific research on ecosystems and to address technological aspects of developing and administering a national policy for ecosystem management.

The Uruguay Round Agreement reduced tariffs, brought services, intellectual property, and agriculture under the discipline of the General Agreement on Tariffs and Trade, and established the World Trade Organization. Multilateral trade issues for the future include continuing services negotiations, the relationship of the environment and labor standards to trade, and investment and competition policy.

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