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12 U.S.C. § 635c — Repealed. Pub. L. 102–429, title I, § 121(c)(1), Oct. 21, 1992, 106 Stat. 2199
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, act July 31, 1945, ch. 341, § 5, 59 Stat. 528, related to reimbursement of Reconstruction Finance Corporation for cancellation of Bank stock, public debt transactions, and payment of accumulated dividends.
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Source location: Title 12, Chapter 6A, § 635c; chapter-6a-export-import-bank-of-the-united-states.md
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### Statutory Notes
Section, act July 31, 1945, ch. 341, § 5, 59 Stat. 528, related to reimbursement of Reconstruction Finance Corporation for cancellation of Bank stock, public debt transactions, and payment of accumulated dividends.
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Federal law — U.S. Code and appendices · legal_authorities
The Export-Import Bank of the United States is authorized to issue from time to time for purchase by the Secretary of the Treasury its notes, debentures, bonds, or other obligations; but the aggregate amount of such obligations outstanding at any one time shall not exceed $6,000,000,000. Such obligations shall be redeemable at the option of the bank before maturity in such manner as may be stipulated in such obligations and shall have such maturity as may be determined by the Board of Directors of the bank with the approval of the Secretary of the Treasury. Each such Bank obligation issued to the Treasury after January 4, 1975, shall bear interest at a rate not less than the current average yield on outstanding marketable obligations of the United States of comparable maturity during the month preceding the issuance of the obligation of the Bank as determined by the Secretary of the Treasury. The Secretary of the Treasury is authorized and directed to purchase any obligations of the Bank issued hereunder and for such purpose the Secretary of the Treasury is authorized to use as a public-debt transaction the proceeds of any securities issued after July 31, 1945, under chapter 31 of title 31, and the purposes for which securities may be issued under that chapter are extended to include such purpose. Payment under this section of the purchase price of such obligations of the Bank and repayments thereof by the Bank shall be treated as public-debt transactions of the United States.
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Federal law — U.S. Code and appendices · legal_authorities
Page 235
TITLE 12—BANKS AND BANKING
§ 635d
after, the Inspector General shall submit to the
Committee on Banking, Housing, and Urban Af-
fairs of the Senate and the Committee on Finan-
cial Services of the House of Representatives a
written report containing all findings and deter-
minations made in carrying out subsection (a).
(Pub. L. 114–94, div. E, title LI, § 51007, Dec. 4,
2015, 129 Stat. 1766.)
Editorial Notes
REFERENCES IN TEXT
Section 635a(l) of this title, as amended by section
51005, referred to in subsec. (a), is section 635a(l) of this
title, as amended by section 51005 of Pub. L. 114–94.
CODIFICATION
Section was enacted as part of the Fixing America’s
Surface Transportation Act, also known as the FAST
Act, and not as part of the Export-Import Bank Act of
1945 which comprises this subchapter.
§ 635b. Capitalization of Bank; method of capital
stock payments; public-debt transactions;
issuance of stock certificates
The Export-Import Bank of the United States
shall have a capital stock of $1,000,000,000 sub-
scribed by the United States. Certificates evi-
dencing stock ownership of the United States
shall be issued by the Bank to the President of
the United States, or to such other person or
persons as the President may designate from
time to time, to the extent of payments made
for the capital stock of the Bank.
(July 31, 1945, ch. 341, § 4, 59 Stat. 528; Pub. L.
90–267, § 1(a), Mar. 13, 1968, 82 Stat. 47; Pub. L.
98–181, title I [title VI, § 620(c)], Nov. 30, 1983, 97
Stat. 1261; Pub. L. 102–429, title I, § 121(b), Oct. 21,
1992, 106 Stat. 2198.)
Editorial Notes
AMENDMENTS
1992—Pub. L. 102–429 inserted second sentence and
struck out former second through last sentences which
read as follows: ‘‘Payment for $1,000,000 of such c
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