Title 12, Banks and BankingRelease 119-110

§635g–1 Annual Competitiveness Report

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

Last updated Sep 22, 2026|Official source

Summary

By June 30 each year, the Bank must send a report to Congress that explains what the Bank is doing to compete fairly and to avoid increasing government-backed export competition. The report must describe how the Bank’s financing compares with other countries’ export-financing programs, estimate the annual amount of export financing available from each foreign government or agency, and summarize feedback from a sample of U.S. exporters and commercial lenders about competing foreign financing. It must describe the Bank’s role in carrying out the Trade Promotion Coordinating Committee’s strategic plan, include the tied-aid credit program report required by law, and group all Bank transactions by their main purpose (for example, fixing market problems or providing matching support). The Bank must report on its financing for renewable energy projects and compare that amount with the previous fiscal year. The report must also compare the size of the Bank’s program account with other major export-financing program accounts and, if needed, recommend changes based on factors like the interests of U.S. taxpayers. It must describe co-financing programs, list countries with export-credit co-financing agreements or explain why none exist, and explain how the Bank and other agencies support services and how they differ. The report must give details about export finance cases that may break the Arrangement or exploit its loopholes, and about foreign export-credit activities that may not follow WTO subsidy rules, with the option to provide those parts separately and confidentially. Any Board member may add comments for inclusion. “Appropriate congressional committees” means the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs.

Full Legal Text

Title 12, §635g–1

Banks and Banking, Source: USLM XML via OLRC

(a)In general

Not later than June 30 of each year, the Bank shall submit to the appropriate congressional committees a report that includes the following:

(1)Actions of Bank in providing financing on a competitive basis, and to minimize competition in government-supported export financing

A description of the actions of the Bank in complying with the second and third sentences of section 635(b)(1)(A) of this title. In this part of the report, the Bank shall include a survey of all other major export-financing facilities available from other governments and government-related agencies through which foreign exporters compete with United States exporters (including through use of market windows (as defined pursuant to section 635i–3(h)(7) of this title)) and, to the extent such information is available to the Bank, indicate in specific terms the ways in which the Bank’s rates, terms, and other conditions compare with those offered from such other governments directly or indirectly. With respect to the preceding sentence, the Bank shall use all available information to estimate the annual amount of export financing available from each such government and government-related agency. In this part of the report, the Bank shall include a survey of a representative number of United States exporters and United States commercial lending institutions which provide export credit on the experience of the exporters and institutions in meeting financial competition from other countries whose exporters compete with United States exporters.

(2)Role of Bank in implementing strategic plan prepared by the Trade Promotion Coordinating Committee

A description of the role of the Bank in implementing the strategic plan prepared by the Trade Promotion Coordinating Committee in accordance with section 4727 of title 15.

(3)Tied aid credit program and fund

The report required by section 635i–3(g) of this title.

(4)Purpose of all Bank transactions

A description of all Bank transactions which shall be classified according to their principal purpose, such as to correct a market failure or to provide matching support.

(5)Efforts of Bank to promote export of goods and services related to renewable energy sources

A description of the activities of the Bank with respect to financing renewable energy projects undertaken under section 635(b)(1)(K) of this title, and an analysis comparing the level of credit extended by the Bank for renewable energy projects with the level of credit so extended for the preceding fiscal year.

(6)Size of Bank program account

A separate section which—

(A)compares, to the extent practicable, the size of the Bank program account with the size of the program accounts of the other major export-financing facilities referred to in paragraph (1); and

(B)makes recommendations, if appropriate, with respect to the relative size of the Bank program account, based on factors including whether the size differences are in the best interests of the United States taxpayer.

(7)Co-financing programs of the Bank and of other export credit agencies

A description of the co-financing programs of the Bank and of the other major export-financing facilities referred to in paragraph (1), which includes a list of countries with which the United States has in effect a memorandum of understanding relating to export credit agency co-financing and, if such a memorandum is not in effect with any country with a major export credit-financing facility, an explanation of why such a memorandum is not in effect.

(8)Services supported by the Bank and by other export credit agencies

A separate section which describes the participation of the Bank in providing funding, guarantees, or insurance for services, which shall include appropriate information on the involvement of the other major export-financing facilities referred to in paragraph (1) in providing such support for services, and an explanation of any differences among the facilities in providing the support.

(9)Export finance cases not in compliance with the arrangement

Detailed information on cases reported to the Bank of export financing that appear not to comply with the Arrangement (as defined in section 635i–3(h)(3) of this title) or that appear to exploit loopholes in the Arrangement for the purpose of obtaining a commercial competitive advantage. The President of the Bank, in consultation with the Secretary of the Treasury, may provide to the appropriate congressional committees the information required by this subsection in a separate and confidential report, instead of providing such information in the report required by this subsection.

(10)Foreign export credit agency activities not consistent with the WTO agreement on subsidies and countervailing measures

A description of the extent to which the activities of foreign export credit agencies and other entities sponsored by a foreign government, particularly those that are not members of the Arrangement (as defined in section 635i–3(h)(3) of this title), appear not to comply with the Arrangement and appear to be inconsistent with the terms of the Agreement on Subsidies and Countervailing Measures referred to in section 3511(d)(12) of title 19, and a description of the actions taken by the United States Government to address the activities. The President of the Bank, in consultation with the Secretary of the Treasury, may provide to the appropriate congressional committees, the information required by this subsection in a separate and confidential report, instead of providing such information in the report required by this subsection.

(b)Inclusion of additional comments

The report required by subsection (a) shall include such additional comments as any member of the Board of Directors may submit to the Board for inclusion in the report.

(c)Appropriate congressional committees

The term “appropriate congressional committees” means the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate.

Reference

Citations & Metadata

Citation

12 U.S.C. § 635g–1

Title 12, Banks and Banking

Last Updated

Sep 22, 2026

Release point: 119-110