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Title 12 — Banks and BankingRelease 119-73

§635a–1 Export credit competition

Title 12 › Chapter CHAPTER 6A— - EXPORT-IMPORT BANK OF THE UNITED STATES › Subchapter SUBCHAPTER I— - GENERAL PROVISIONS › § 635a–1

Last updated Apr 6, 2026|Official source

Summary

The President is allowed and asked to start high-level talks with other big exporting countries to stop aggressive export-financing and other export subsidy programs, including mixed public-private credit deals, both in other countries’ markets and in the United States. The President must tell Congress about progress before January 15, 1979. The Export-Import Bank may offer guarantees, insurance, and credit. The Bank’s Board of Directors must set rates, terms, and conditions that it believes are competitive with those of other nations’ government-backed export credit agencies.

Full Legal Text

Title 12, §635a–1

Banks and Banking — Source: USLM XML via OLRC

(a)The President is authorized and requested to begin negotiations at the ministerial level with other major exporting countries to end predatory export financing programs and other forms of export subsidies, including mixed credits, in third country markets as well as within the United States. The President shall report to the Congress prior to January 15, 1979, on progress toward meeting the goals of this section.
(b)The Export-Import Bank of the United States is authorized to provide guarantees, insurance, and extensions of credit at rates and terms and other conditions which are, in the opinion of the Board of Directors of the Bank, competitive with those provided by the government-supported export credit instrumentalities of other nations.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Codification Section was enacted as part of the Export-Import Bank Act

Amendments

of 1978, and not as part of the Export-Import Bank Act of 1945 which comprises this subchapter.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective Nov. 10, 1978, see section 1917 of Pub. L. 95–630, set out as an

Effective Date

of 1978 Amendment note under section 635 of this title.

Reference

Citations & Metadata

Citation

12 U.S.C. § 635a–1

Title 12 — Banks and Banking

Last Updated

Apr 6, 2026

Release point: 119-73