Sen. Phil Gramm, chairman of the Senate Committee on Banking, Housing and Urban Affairs, has announced a full committee hearing on five nominations.

WHAT:

Committee on Banking, Housing and Urban Affairs

WHEN:

11:30 a.m. Friday, July 30, 1999

WHERE:

538 Dirksen Senate Building

WHO:

• Martin Baily, nominated to be Chairman, and Robert Lawrence, nominated to be a member of the Council of Economic Advisors.

  The Council of Economic Advisors provides the President with economic analysis and advice on the development and implementation of a wide range of domestic and international economic policy issues. The Council is made up of a chairman and two members, who are all appointed by the President with the advice and consent of the Senate.

• Harry Bowie, nominated to be a member of the Board of Directors of the National Consumer Cooperative Bank. This is a three-year term, part-time.

  The National Consumer Cooperative Bank provides financing to the nation's cooperative business sector, aimed at spurring economic growth and community development in urban and rural America. Primary lines of business include commercial lending, mortgage banking, capital markets and advisory services, lease financing and depository services.

• Armando Falcon, nominated to be a Director the Office of Federal Housing Enterprise Oversight. Full term is for five years.

  The Office of Federal Housing Enterprise Oversight performs the function of financial regulator of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. The office operates as an arms-length entity within the Department of Housing and Urban Development and ensures that these agencies are adequately capitalized and operating safely.

• Vanessa Weaver, nominated to be a member of the Board of Directors of the Export-Import Bank. Term is for four years.

  The Export-Import Bank of the United States (Ex-Im Bank) is an independent U.S. government agency that helps finance the overseas sales of U.S. goods and services. In over 60 years, Ex-Im Bank has supported more than $300 billion in U.S. exports.