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12 U.S.C. § 635j — Export financing program to foster foreign trade and commercial interest of the United States

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 635j — Export financing program to foster foreign trade and commercial interest of the United States

**(a) Congressional statement of policy** It is the policy of the Congress that the Export-Import Bank of the United States should facilitate through loans, guarantees, and insurance (including coinsurance and reinsurance) those export transactions which, in the judgment of the Board of Directors of the Bank, offer sufficient likelihood of repayment to justify the Bank’s support in order to actively foster the foreign trade and long-term commercial interest of the United States. **(b) Designation of transactions on books of the Bank; limitation on commitments** The Bank shall specially designate loans, guarantees, and insurance on the books of the Bank made under authority of this subchapter. In connection with guarantees and insurance, not less than 25 per centum of the related contractual liability of the Bank shall be taken into account for the purpose of applying the limitation imposed by [section 635e of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635e&num=0&edition=prelim); but the full amount of the related contractual liability of such guarantees and insurance shall be taken into account for the purpose of applying the limitation in [section 635(c)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635/c/1&num=0&edition=prelim), concerning the amount of guarantees and insurance the Bank may have outstanding at any one time thereunder. The aggregate amount of loans plus 25 per centum of the contractual liability of guarantees and insurance outstanding at any one time under this subchapter shall not exceed $500,000,000.

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Source file: Laws/federal/codes/united-states-code/title-12/section-635j-export-financing-program-to-foster-foreign-trade-and-commercial-interest--da6ecaa2f3.md
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Source location: Title 12, Chapter 6A, § 635j; chapter-6a-export-import-bank-of-the-united-states.md

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Federal law — U.S. Code and appendices · legal_authorities

5 U.S.C. § 1013 — Termination of advisory committees

**(a) In General.—** (1) **Advisory committees in existence on january 5, 1973.—** — Each advisory committee that is in existence on January 5, 1973, shall terminate not later than the expiration of the 2-year period following that date unless— (A) in the case of an advisory committee established by the President or an officer of the Federal Government, such advisory committee is renewed by the President or that officer by appropriate action prior to the expiration of such 2-year period; or (B) in the case of an advisory committee established by an Act of Congress, its duration is otherwise provided for by law. (2) **Advisory committees established after january 5, 1973.—** — Each advisory committee established after January 5, 1973, shall terminate not later than the expiration of the 2-year period beginning on the date of its establishment unless— (A) in the case of an advisory committee established by the President or an officer of the Federal Government 11 So in original. Probably should be followed by a comma. such advisory committee is renewed by the President or such officer by appropriate action prior to the end of such period; or (B) in the case of an advisory committee established by an Act of Congress, its duration is otherwise provided for by law. **(b) Charters.—** (1) **Upon renewal.—** — Upon the renewal of an advisory committee, the advisory committee shall file a charter in accordance with [section 1008(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section1008/c&num=0&edition=prelim). (2) **Upon expiration of successive 2-year periods.—** — An advisory committee established by an Act of Congress shall file a charter in accordance with [section 1008(c) of this title](https://uscode.house.gov/view.x

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 635e — Aggregate loan, guarantee, and insurance authority

**(a) Limitation on outstanding amounts** (1) **In general** — The Export-Import Bank of the United States shall not have outstanding at any one time loans, guarantees, and insurance in an aggregate amount in excess of the applicable amount. (2) **Applicable amount defined** — In this subsection, the term “applicable amount”, for each of fiscal years 2020 through 2027, means $135,000,000,000. (3) **Freezing of lending cap if default rate is 2 percent or more** — If the rate calculated under [section 635g(g)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635g/g/1&num=0&edition=prelim) is 2 percent or more for a quarter, the Bank may not exceed the amount of loans, guarantees, and insurance outstanding on the last day of that quarter until the rate calculated under [section 635g(g)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635g/g/1&num=0&edition=prelim) is less than 2 percent. (4) **Subject to appropriations** — All spending and credit authority provided under this subchapter shall be effective for any fiscal year only to such extent or in such amounts as are provided in appropriation Acts. **(b) Reserve requirement** The Bank shall build to and hold in reserve, to protect against future losses, an amount that is not less than 5 percent of the aggregate amount of disbursed and outstanding loans, guarantees, and insurance of the Bank. **(c) Presidential determination** (1) **In general** — Not later than March 31 of each fiscal year, the President of the United States shall determine whether the authority available to the Bank for such fiscal year will be sufficient to meet the Bank’s needs, particularly those needs arising from— (A) increases in the level of export

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 635j — Export financing program to foster foreign

Page 252 TITLE 12—BANKS AND BANKING § 635i–9 means 12 U.S.C. 635i–8], and section 301 of title 3 of the United States Code, it is hereby ordered as follows: 1. There are delegated to the Secretary of the Treasury, in consultation with the Secretary of State and the Secretary of Defense, the functions, authori- ties, and duties conferred upon the President by sec- tion 570(a) of the Act [107 Stat. 970]. 2. There are delegated to the Secretary of the Treasury, in consultation with the Secretary of State and the President of the Export-Import Bank, the functions, authorities, and duties conferred upon the President by section 570(b) of the Act and section 14(a) of the Export-Import Bank Act of 1945 (12 U.S.C. 635—635i–8). The Secretary of the Treasury is authorized and di- rected to publish this memorandum in the Federal Reg- ister. WILLIAM J. CLINTON. § 635i–9. Market windows (a) Enhanced transparency 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 Ar- rangement. 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) Authorization The Bank may provide financing on terms and conditions that are inconsistent with those per- mitted under the OECD Export Credit Arrange- ment— (1) to match financing terms and conditions that are being offered by market windows on terms that are inconsistent with those per- mitted under the OECD Export Credit Ar- rangement, if— (A) matching such terms and conditions advances the negotiations for multilateral discip

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