§635a–4 — Title 12 Banks and Banking | U.S. Code

Summary

Ex-Im Bank must run a program to guarantee loans to exporters, including export trading companies, when the loans are secured by export collateral — accounts, inventories, contracts, fees, or dues. The Board may guarantee if (1) private lenders aren’t supplying enough credit to otherwise creditworthy exporters, and (2) the guarantees will increase exports that wouldn’t happen otherwise.

Title 12, §635a–4

Banks and Banking — Source: USLM XML via OLRC

The Export-Import Bank of the United States is authorized and directed to establish a program to provide guarantees for loans extended by financial institutions or other public or private creditors to export trading companies as defined in section 1843(c)(14)(F)(i) of this title, or to other exporters, when such loans are secured by export accounts receivable, inventories of exportable goods, accounts receivable from leases, performance contracts, grant commitments, participation fees, member dues, revenue from publications, or such other collateral as the Board of Directors may deem appropriate, and when in the judgment of the Board of Directors—

(1)the private credit market is not providing adequate financing to enable otherwise creditworthy export trading companies or exporters to consummate export transactions; and

(2)such guarantees would facilitate expansion of exports which would not otherwise occur.

Notes & Related Subsidiaries

Editorial Notes

Codification Section was enacted as part of the Bank Export Services Act, and not as part of the Export-Import Bank Act of 1945 which comprises this subchapter.

Amendments

1983—Pub. L. 98–181 substituted “export accounts receivable, inventories of exportable goods, accounts receivable from leases, performance contracts, grant commitments, participation fees, member dues, revenue from publications, or such other collateral as the Board of Directors may deem appropriate,” for “export accounts receivable or inventories of exportable goods”.

§635a–4 Guarantees for export accounts receivable and inventory

Summary

Title 12, §635a–4

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata