§635g Report to Congress; Time for Submission; Contents

Summary

The Export‑Import Bank must send Congress every year a full report about its operations as of the last business day of the fiscal year. The report must include a detailed account of how money set aside for small business exports was used — including the number and dollar amount of loans from the set‑aside, loans made through consortia, guarantees and insurance amounts, how many recipients were new to the Bank’s programs, how many commitments were under $500,000, and recommendations to boost participation by banks and other institutions. The Bank must also send that small‑business report to the Senate and House Small Business Committees. For fiscal years 2002 through 2006 the Bank must report on certain efforts to help small businesses and how those efforts are working. Each annual report must also estimate how many U.S. supplier entities are small businesses, describe outreach to disadvantaged, women‑owned, and very small firms (under 100 employees), report on Advisory Committee determinations, describe support for U.S. textile and apparel exporters and steps taken to increase Bank use, report on programs for U.S. firms with less than $250,000,000 in annual sales, and include a narrative and financial summary of the Program on China and Transformational Exports. By March 31 each year the Bank must send more detailed updates to the House Financial Services Committee and the Senate Banking Committee. Those updates must cover how the Bank is using its small‑business authorities and why it may not be fully using them; how financing helps small firms get into export supply chains; planned actions for the coming year; progress and dollar amounts for disadvantaged and women‑owned small businesses with comparisons to the prior two years; the fees and interest charged by transaction type and their effects (including highest, lowest, and average short‑term insurance fees); and efforts and costs for certain small‑business mandates, plus explanations and timelines if the Bank has not complied. The Bank must calculate default rates at least quarterly overall and by product, market, and industry, and report those rates to the Senate and House Banking Committees. If the overall default rate reaches or exceeds 2 percent, the Bank must explain within 45 days why and give a plan to lower it that describes monitoring controls and specific actions with dates. While the rate stays at or above 2 percent the Bank must send monthly updates. If the rate stays above 2 percent for 6 months, the Treasury must order an independent review and a report within 60 days after the 6‑month period. Finally, each annual report must label each loan and long‑term guarantee by its purpose (covering commercial or political risk, fixing private‑sector financing limits, matching foreign export credit competition, or “not identified” with a reason).