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Title 12, Banks and BankingRelease 119-73not60

§635i–9 Market Windows

Title 12 › Chapter 6A— EXPORT-IMPORT BANK OF THE UNITED STATES › Subchapter I— GENERAL PROVISIONS › § 635i–9

Last updated Apr 3, 2026|Official source

Summary

The United States should push for more openness about how foreign, government-run export lenders (often called market windows) work under the OECD export-credit rules. If that openness shows U.S. exporters are being hurt, the United States should try to start talks to create clearer rules and more transparency in the OECD process. The Bank may offer loans or credit terms that do not follow the OECD rules when needed to stay competitive. That can happen to match what a market window is offering if doing so helps win rules and transparency at the OECD, or if the market-window deal is shown to be better than private market offers. The Bank can also do this when the foreign, government-backed lender will not share enough information for the Bank to decide. OECD — Organization for Economic Cooperation and Development.

Full Legal Text

Title 12, §635i–9

Banks and Banking, Source: USLM XML via OLRC

(a)To ensure that the Bank financing remains fully competitive, the United States should seek enhanced transparency over the activities of market windows in the OECD Export Credit Arrangement. If such transparency indicates that market windows are disadvantaging United States exporters, the United States should seek negotiations for multilateral disciplines and transparency within the OECD Export Credit Arrangement.
(b)The Bank may provide financing on terms and conditions that are inconsistent with those permitted under the OECD Export Credit Arrangement—
(1)to match financing terms and conditions that are being offered by market windows on terms that are inconsistent with those permitted under the OECD Export Credit Arrangement, if—
(A)matching such terms and conditions advances the negotiations for multilateral disciplines and transparency within the OECD Export Credit Arrangement; or
(B)transparency verifies that the market window financing is being offered on terms that are more favorable than the terms and conditions that are available from private financial markets; and
(2)when the foreign government-supported institution refuses to provide sufficient transparency to permit the Bank to make a determination under paragraph (1).
(c)In this section, the term “OECD” means the Organization for Economic Cooperation and Development.

Legislative History

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

Report Pub. L. 107–189, § 10(b)(2),
June 14, 2002, 116 Stat. 703, provided that: “Within 2 years after the date of the enactment of this Act [
June 14, 2002], the Secretary of the Treasury shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate a report on the rationale for seeking or not seeking negotiations for multilateral disciplines and transparency, the successes, failures, and obstacles in initiating negotiations, and if negotiations were initiated, in reaching an agreement.”

Reference

Citations & Metadata

Citation

12 U.S.C. § 635i–9

Title 12, Banks and Banking

Last Updated

Apr 3, 2026

Release point: 119-73not60