Title 12 — Banks and BankingRelease 119-73

§635t Definitions

Title 12 › Chapter CHAPTER 6A— - EXPORT-IMPORT BANK OF THE UNITED STATES › Subchapter SUBCHAPTER III— - TIED AID CREDIT EXPORT SUBSIDIES › § 635t

Last updated Apr 6, 2026|Official source

Summary

Defines key words used in this subchapter. Tied aid credit means development funding that requires buying exports from the lender’s country, is paid with public or mixed public‑private funds, and has a grant element greater than zero percent as defined by the Development Assistance Committee of the Organization for Economic Cooperation and Development. Government‑mixed credits mean Export‑Import Bank support used together with grants or concessional finance from the Agency for International Development. Public‑private cofinancing means official development aid or official export credit mixed with private commercial credit. Blending of financings means official aid, official export credit, and private credit combined into one package with one set of terms. Parallel financing means those same sources used in separate but related financing lines, not merged into one package. Bank means the Export‑Import Bank of the United States.

Full Legal Text

Title 12, §635t

Banks and Banking — Source: USLM XML via OLRC

For purposes of this subchapter—

(1)the term “tied aid credit” means credit—

(A)which is provided for development aid purposes;

(B)which is tied to the purchase of exports from the country granting the credit;

(C)which is financed either exclusively from public funds, or, as a mixed credit, partly from public and partly from private funds; and

(D)which has a grant element, as defined by the Development Assistance Committee of the Organization for Economic Cooperation and Development, greater than zero percent;

(2)the term “government-mixed credits” means the combined use of credits, insurance, and guarantees offered by the Export-Import Bank of the United States with concessional financing or grants offered by the Agency for International Development to finance exports;

(3)the term “public-private cofinancing” means the combined use of either official development assistance or official export credit with private commercial credit to finance exports;

(4)the term “blending of financings” means the use of various combinations of official development assistance, official export credit, and private commercial credit, integrated into a single package with a single set of financial terms, to finance exports;

(5)the term “parallel financing” means the related use of various combinations of separate lines of official development assistance, official export credits, and private commercial credit, not combined into a single package with a single set of financial terms, to finance exports; and

(6)the term “Bank” means the Export-Import Bank of the United States.

Reference

Citations & Metadata

Citation

12 U.S.C. § 635t

Title 12 — Banks and Banking

Last Updated

Apr 6, 2026

Release point: 119-73