February 16, 1995
TO: BOARD OF GOVERNORS No. 29-95
INTERNATIONAL MEMBERS No. 2-95
INVESTMENT ADVISER MEMBERS No. 9-95
RE: U.S. AND JAPAN ASSET MANAGEMENT TRADE AGREEMENT
______________________________________________________________________________
As we previously informed you U.S. and Japanese trade negotiators reached agreement
on measures that could significantly expand the opportunities for U.S. firms seeking to enter
the pension management and investment trust (mutual fund) markets in Japan. See
Memorandum to Board of Governors No. 8-95, International Members No. 1-95, and
Investment Adviser Members No. 5-95 dated January 13, 1995.
Attached is a copy of the agreement signed on February 13, 1995 by Treasury Secretary
Rubin and the Ambassador of Japan.
The Institute will continue to work on issues relating to the implementation of this
agreement and will keep you advised of developments.
Catherine L. Heron
Vice President and Senior Counsel
Attachment