1. Export-Import Bank a. Export-Import Bank Act of 1945, as Amended Public Law 79–173 (H.R. 3771], 59 Stat. 526, approved July 31, 1945, as amended by Public Law 79–282 [H.R. 4683], 59 Stat. 666, approved December 28, 1945; Public Law 80-89 [S. 993], 61 Stat. 130, approved June 9, 1947; Public Law 82-158 [S. 2006], 65 Stat. 367, approved October 3, 1951; Public Law 83-30 [H.R. 4465], 67 Stat. 28 approved May 21, 1953; Public Law 83-570 [S. 3589], 68 Stat. 677, approved August 9, 1954; Public Law 83-779 [H.R. 9730], 68 Stat. 1237, approved September 3, 1954; Public Law 85-55 [H.R. 4136], 71 Stat. 82, approved June 17, 1957; Public Law 85-424 [S. 3149], 72 Stat. 133, approved May 22, 1958; Public Law 87-311 [S. 2325], 75 Stat. 673, approved September 26 1961; Public Law 88101 [H.R. 3872], 77 Stat. 128, approved August 20, 1963; Public Law 89-348 [S. 2150], 79 Stat. 1312, approved November 8, 1965; Public Law 90-267 [S. 1155], 82 Stat. 47, approved March 13, 1968; Public Law 92-126 [Export Expansion Finance Act of 1971; S. 581], 86 Stat. 345, approved August 17, 1971; Public Law 93-331 [S.J. Res 218], 88 Stat. 289, approved July 4, 1974; Public Law 93-374 [S.J. Res. 229], 88 Stat. 445, approved August 14, 1974; Public Law 93-425 [S.J. Res. 244], 88 Stat. 1166, approved September 30, 1974; Public Law 93-450 [S.J. Res. 251], 88 Stat. 1368, approved October 18, 1974; Public Law 93-646 [ExportImport Bank Amendments of 1974; H.R. 15977], 88 Stat. 2333, approved January 4, 1975; Public Law 95-143 [H.R. 6415], 91 Stat. 1210, approved October 26, 1977; Public Law 95–407 [H.J. Res. 1140], 92 Stat. 882, approved September 30 1978; Public Law 95-630 [Financial Institutions Regulatory and Interest Rate Control Act of 1978; H.R. 14279], 92 Stat. 3641 at 3724, approved November 10, 1978; Public Law 96-470 [Congressional Reports Elimination Act of 1980; H.R. 6686], 94 Stat. 2237 at 2245, approved October 19, 1980; Public Law 97-35 [Omnibus Budget Reconciliation Act of 1981; H.R. 3982], 95 Stat. 357 at 431, approved August 13, 1981; Public Law 98-109 [H.J. Res. 366], 97 Stat. 745 at 746, approved October 1, 1983; Public Law 98-143 [S.J. Res. 189], 97 Stat. 916, approved November 1, 1983; Public Law 98–181 [Supplemental Appropriations, 1984; H.R. 3959], 97 Stat. 1153 at 1255, approved November 30, 1983; Public Law 99-440 [Comprehensive Anti-Apartheid Act of 1986; H.R. 4868], 100 Stat. 1086, approved October 2, 1986; Public Law 99-472 [Export-Import Bank Act Amendments of 1986; H.R. 5548], 100 Stat. 1200, approved October 15, 1986; Public Law 99-509 [Omnibus Budget Reconciliation Act of 1986; H.R. 5300], 100 Stat. 1874, approved October 21, 1986; Public Law 100-217 [Tied Aid Credit Fund Reimbursements: Extension; H.R. 3289], 101 Stat. 1454, approved December 29, 1987; Public Law 100-418 [Omnibus Trade and Competitiveness Act of 1988; H.R. 4848], 102 Stat. 1107, approved August 23, 1988; Public Law 100-690 [Anti-Drug Abuse Act of 1988; H.R. 5210], 102 Stat. 4181, approved November 18, 1988; and by Public Law 101-240 [International Development and Finance Act of 1989, H.R. 2494], 103 Stat. 2492, approved December 19, 1989 AN ACT To provide for increasing the lending authority of the Export-Import Bank of the United States, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "Export-Import Bank Act of 1945.” SEC. 2. (a)(1) There is hereby created a corporation with the name Export-Import Bank of the United States 2 which shall be an 112 U.S.C. 635. Subsec. (a)(1) amended by Act of Dec. 28, 1945 (59 Stat. 666), and by Act of June 9, 1947 (61 Stat. 130). Par. (2) was added by Public Law 92-126 (85 Stat. 346). 2 The name of the Bank, "Export-Import Bank of Washington", was changed to "ExportImport Bank of the United States" by Public Law 90-267 (82 Stat. 47). (2) Providing for the Participation by the United States in a (3) Providing for Increased Participation by the United States in c. Other Legislation Relating to International Financial Institutions. 151 155 158 158 (2) International Lending Supervision Act of 1983 (Title IX of 193 (3) Multilateral Development Banks: Sense of Congress (Title X 204 206 208 (4) IMF Appropriation (Title XI of Public Law 98-181). (9) National Advisory Council on International Monetary and 210 211 213 214 1. Export-Import Bank a. Export-Import Bank Act of 1945, as Amended Public Law 79-173 [H.R. 3771], 59 Stat. 526, approved July 31, 1945, as amended by Public Law 79-282 [H.R. 4683], 59 Stat. 666, approved December 28, 1945; Public Law 80-89 [S. 993], 61 Stat. 130, approved June 9, 1947; Public Law 82-158 [S. 2006], 65 Stat. 367, approved October 3, 1951; Public Law 83-30 [H.R. 4465], 67 Stat. 28 approved May 21, 1953; Public Law 83-570 [S. 3589], 68 Stat. 677, approved August 9, 1954; Public Law 83-779 [H.R. 9730], 68 Stat. 1237, approved September 3, 1954; Public Law 85-55 [H.R. 4136], 71 Stat. 82, approved June 17, 1957; Public Law 85-424 [S. 3149], 72 Stat. 133, approved May 22, 1958; Public Law 87-311 [S. 2325], 75 Stat. 673, approved September 26 1961; Public Law 88101 [H.R. 3872], 77 Stat. 128, approved August 20, 1963; Public Law 89-348 [S. 2150), 79 Stat. 1312, approved November 8, 1965; Public Law 90-267 [S. 1155], 82 Stat. 47, approved March 13, 1968; Public Law 92-126 [Export Expansion Finance Act of 1971; S. 581], 86 Stat. 345, approved August 17, 1971; Public Law 93-331 [S.J. Res 218], 88 Stat. 289, approved July 4, 1974; Public Law 93-374 [S.J. Res. 229], 88 Stat. 445, approved August 14, 1974; Public Law 93-425 [S.J. Res. 244], 88 Stat. 1166, approved September 30, 1974; Public Law 93–450 [S.J. Res. 251], 88 Stat. 1368, approved October 18, 1974; Public Law 93-646 [ExportImport Bank Amendments of 1974; H.R. 15977], 88 Stat. 2333, approved January 4, 1975; Public Law 95-143 [H.R. 6415], 91 Stat. 1210, approved October 26, 1977; Public Law 95-407 [H.J. Res. 1140], 92 Stat. 882, approved September 30 1978; Public Law 95-630 [Financial Institutions Regulatory and Interest Rate Control Act of 1978; H.R. 14279], 92 Stat. 3641 at 3724, approved November 10, 1978; Public Law 96-470 [Congressional Reports Elimination Act of 1980; H.R. 6686], 94 Stat. 2237 at 2245, approved October 19, 1980; Public Law 97-35 [Omnibus Budget Reconciliation Act of 1981; H.R. 3982], 95 Stat. 357 at 431, approved August 13, 1981; Public Law 98-109 [H.J. Res. 366], 97 Stat. 745 at 746, approved October 1, 1983; Public Law 98-143 [S.J. Res. 189], 97 Stat. 916, approved November 1, 1983; Public Law 98-181 [Supplemental Appropriations, 1984; H.R. 3959], 97 Stat. 1153 at 1255, approved November 30, 1983; Public Law 99-440 [Comprehensive Anti-Apartheid Act of 1986; H.R. 4868], 100 Stat. 1086, approved October 2, 1986; Public Law 99-472 [Export-Import Bank Act Amendments of 1986; H.R. 5548], 100 Stat. 1200, approved October 15, 1986; Public Law 99-509 [Omnibus Budget Reconciliation Act of 1986; H.R. 5300], 100 Stat. 1874, approved October 21, 1986; Public Law 100-217 [Tied Aid Credit Fund Reimbursements: Extension; H.R. 3289], 101 Stat. 1454, approved December 29, 1987; Public Law 100-418 [Omnibus Trade and Competitiveness Act of 1988; H.R. 4848], 102 Stat. 1107, approved August 23, 1988; Public Law 100-690 [Anti-Drug Abuse Act of 1988; H.R. 5210], 102 Stat. 4181, approved November 18, 1988; and by Public Law 101-240 [International Development and Finance Act of 1989, H.R. 2494], 103 Stat. 2492, approved December 19, 1989 AN ACT To provide for increasing the lending authority of the Export-Import Bank of the United States, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "Export-Import Bank Act of 1945." SEC. 2. (aX1)1 There is hereby created a corporation with the name Export-Import Bank of the United States 2 which shall be an 12 U.S.C. 635. Subsec. (a)(1) amended by Act of Dec. 28, 1945 (59 Stat. 666), and by Act of June 9, 1947 (61 Stat. 130). Par. (2) was added by Public Law 92-126 (85 Stat. 346). The name of the Bank, "Export-Import Bank of Washington", was changed to "ExportImport Bank of the United States" by Public Law 90-267 (82 Stat. 47). agency of the United States of America. The objects and purposes of the Bank shall be to aid in financing and to facilitate exports and imports and the exchange of commodities and services 3 between the United States or any of its territories or insular possessions and any foreign country or the agencies or nationals thereof. In connection with and in furtherance of its objects and purposes, the Bank is authorized and empowered to do a general banking business except that of circulation; to receive deposits; to purchase, discount, rediscount, sell, and negotiate, with or without its endorsement or guaranty, and to guarantee notes, drafts, checks, bills of exchange, acceptances, including bankers' acceptances, cable transfers, and other evidences of indebtedness; to guarantee, insure, co-insure, reinsure against political and credit risks of loss; to purchase, sell, and guarantee securities but not to purchase with its funds any stock in any other corporation except that it may acquire any such stock, through the enforcement of any lien or pledge or otherwise to satisfy a previously contracted indebtedness to it; to accept bills and drafts drawn upon it; to issue letters of credit; to purchase and sell coin, bullion, and exchange; to borrow and to lend money; to perform any act herein authorized in participation with any other person, including any individual, partnership, corporation, or association; to adopt, alter, and use a corporate seal, which shall be judicially noticed; to sue and to be sued, to complain and to defend in any court of competent jurisdiction; to represent itself or to contract for representation in all legal and arbitral proceedings outside the United States; and the enumeration of the foregoing powers shall not be deemed to exclude other powers necessary to the achievement of the objects and purposes of the Bank. The Bank shall be entitled to the use of the United States mails in the same manner and upon the same conditions as the executive departments of the Government. The Bank is authorized to publish or arrange for the publications of any documents, reports, contracts, or other material necessary in connection with or in furtherance of its objects and purposes without regard to the provisions of section 501 of title 44, United States Code, whenever the Bank determines that publication in accordance with the provisions of such section would not be practicable. Subject to regulations which the Bank shall issue pursuant to section 553 of title 5, United States Code, the Bank may 5 impose and collect reasonable fees to cover the costs of conferences and seminars sponsored by, and publications provided by, the Bank. Amounts received under the preceding sentence shall be credited to the fund which initially paid for such activities, and may accept reimbursement for travel and subsistence expenses incurred by a director, officer, or employee of the Bank, in accordance with subchapter I of chapter 57 of title 5, United States Code. The Bank is hereby authorized to use 4 3 Sec. 616(a)(1) of the Export-Import Bank Act Amendments of 1983 (title VI of Public Law 98181; 97 Stat. 1257) added the words "and services". * This phrase was added by sec. 2 of Public Law 93-646 (88 Stat. 2333). 5 Sec. 101(c)(1) of the International Development and Finance Act of 1989 (Public Law 101-240, 103 Stat. 2494), struck out "The Bank may" at the beginning of the 6th sentence, added the opening clause to this point; and inserted text at the end of the 6th sentence beginning with ". and may accept". The 6th sentence was previously amended by sec. 2 of the Export-Import Bank Act Amendments of 1986 (Public Law 99-472; 100 Stat. 1200). all of its assets and all moneys which have been or may thereafter be allocated to or borrowed by it in the exercise of its functions and shall be offset against the expenses of the Bank for such activities." Net earnings of the Bank after reasonable provision for possible losses shall be used for payment of dividends on capital stock. Any such dividends shall be deposited into the Treasury as miscellaneous receipts. (2) In order for the Bank to be competitive in all of its financing programs with countries whose exports compete with United States exports, the Bank shall establish a program that— (A) provides medium-term financing where necessary to be fully competitive— (i) at rates of interest to the customer which are equal to rates established in international agreements; and (ii) in amounts up to 85 percent of the total cost of the exports involved; and (B) enables the Bank to cooperate fully with the Secretary of Commerce and the Administrator of the Small Business Administration to develop a program for purposes of disseminating information (using existing private institutions) to small business concerns regarding the medium-term financing provided under this paragraph. (3) 8 ENHANCEMENT OF MEDIUM-TERM PROGRAM. (A) IN GENERAL.-To enhance the medium-term financing program established pursuant to paragraph (2), the Bank shall establish measures to (i) improve the competitiveness of the Bank's mediumterm financing and ensure that its medium-term financing is fully competitive with that of other major official export credit agencies; (ii) ease the administrative burdens and procedural and documentary requirements imposed on the users of medium-term financing; (iii) attract the widest possible participation of private financial institutions and other sources of private capital in the medium-term financing of United States exports; and (iv) render the Bank's medium-term financing as supportive of United States exports as is its Direct Loan Pro gram. (B) REPORT REQUIRED.-Not later than April 15, 1988, the Bank shall transmit a report to the Congress analyzing the measures adopted to enhance medium-term financing. (b)(1) (A) It is the policy of the United States to foster expansion of exports of manufactured goods, agricultural products, and other goods and services,10 thereby contributing to the promotion and • Sec. 101(c)(2) added text to end of 7th sentence beginning with "and shall be offset". 7 Sec. 622 of the Export-Import Bank Act Amendments of 1983 (title VI of Public Law 98-181; 97 Stat.1261) added par. (2). A previous text of par. (2) was added by Public Law 92-126 (85 Stat. 346) and repealed by sec. 13 of Public Law 93-646 (88 Stat. 2337). Sec. 4 of Public law 99-472 (100 Stat. 1200) added par. (3). * As amended and restated by Public Law 92-126 (85 Stat. 345) and by sec. 3 of Public Law 93646 (88 Stat. 2333). 10 The words "manufactured goods, agricultural products and other goods and services" were inserted in lieu of "goods and related services" by sec. 1910 of Public Law 95-630 (92 Stat. 3726). |