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12 U.S.C. § 635a–3 — Export-Import Bank financing to match foreign financing
Federal law — U.S. Code and appendices · legal_authorities
**(a) Noncompetitive financing; inquiry by Secretary; notification of foreign country and prospective parties to transaction**
(1) Upon receipt of information that foreign sales to the United States are being offered involving foreign official export credits which exceed limits under existing standstills, minutes, or practices to which the United States and other major exporting countries have agreed, irrespective of whether these credits are being offered by governments which are signatories to such standstills, minutes, or practices, the Secretary of the Treasury shall immediately conduct an inquiry to determine whether “noncompetitive financing” is being offered. The inquiry, and where appropriate, the determination and authorization to the Export-Import Bank of the United States referred to in this section shall be completed and made within 60 days of the receipt of such information.
(2) If the Secretary determines that such foreign “noncompetitive” financing is being offered, the Secretary shall request the immediate withdrawal of such financing by the foreign official export credit agency involved.
(3) If the offer is not withdrawn or if there is no immediate response to the withdrawal request, the Secretary of the Treasury shall notify the country offering such financing and all parties to the proposed transaction that the Eximbank may be authorized to provide competing United States sellers with financing to match that available through the foreign official export financing entity.
**(b) Issuance of authorization to Bank to provide guarantees, insurance, and credits to competing United States sellers** The Secretary of the Treasury shall issue such authorization to the Bank to provide guarantees, insurance, and credits to competing United States sellers, unl
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 635a–3
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Source file: Laws/federal/codes/united-states-code/title-12/section-635a3-export-import-bank-financing-to-match-foreign-financing--df073a29f8.md
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Source location: Title 12, Chapter 6A, § 635a–3; chapter-6a-export-import-bank-of-the-united-states.md
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**(a) Noncompetitive financing; inquiry by Secretary; notification of foreign country and prospective parties to transaction**
(1) Upon receipt of information that foreign sales to the United States are being offered involving foreign official export credits which exceed limits under existing standstills, minutes, or practices to which the United States and other major exporting countries have agreed, irrespective of whether these credits are being offered by governments which are signatories to such standstills, minutes, or practices, the Secretary of the Treasury shall immediately conduct an inquiry to determine whether “noncompetitive financing” is being offered. The inquiry, and where appropriate, the determination and authorization to the Export-Import Bank of the United States referred to in this section shall be completed and made within 60 days of the receipt of such information.
(2) If the Secretary determines that such foreign “noncompetitive” financing is being offered, the Secretary shall request the immediate withdrawal of such financing by the foreign official export credit agency involved.
(3) If the offer is not withdrawn or if there is no immediate response to the withdrawal request, the Secretary of the Treasury shall notify the country offering such financing and all parties to the proposed transaction that the Eximbank may be authorized to provide competing United States sellers with financing to match that available through the foreign official export financing entity.
**(b) Issuance of authorization to Bank to provide guarantees, insurance, and credits to competing United States sellers** The Secretary of the Treasury shall issue such authorization to the Bank to provide guarantees, insurance, and credits to competing United States sellers, unless the Secretary determines that—
(1) the availability of foreign official noncompetitive financing is not likely to be a significant factor in the sale; or
(2) the foreign noncompetitive financing has been withdrawn.
**(c) Provision of financing by Bank pursuant to authorization** Upon receipt of authorization by the Secretary of the Treasury, the Export-Import Bank may provide financing to match that offered by the foreign official export credit entity: Provided, however, That loans, guarantees and insurance provided under this authority shall conform to all provisions of the Export-Import Bank Act of 1945, as amended [[12 U.S.C. 635](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635&num=0&edition=prelim) et seq.].
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Federal law — U.S. Code and appendices · legal_authorities
**(a) General banking business; use of mails; publication of documents, reports, contracts, etc.; use of assets and allocated or borrowed money; payment of dividends; medium-term financing; dissemination of information; enhancement of medium-term program**
(1) There is created a corporation with the name Export-Import Bank of the United States, which shall be an agency of the United States of America. The objects and purposes of the Bank shall be to aid in financing and to facilitate exports of goods and services, imports, and the exchange of commodities and services between the United States or any of its territories or insular possessions and any foreign country or the agencies or nationals of any such country, and in so doing to contribute to the employment of United States workers. The Bank’s objective in authorizing loans, guarantees, insurance, and credits shall be to contribute to maintaining or increasing employment of United States workers. In connection with and in furtherance of its objects and purposes, the bank is authorized and empowered to do a general banking business except that of circulation; to receive deposits; to purchase, discount, rediscount, sell, and negotiate, with or without its endorsement or guaranty, and to guarantee notes, drafts, checks, bills of exchange, acceptances, including bankers’ acceptances, cable transfers, and other evidences of indebtedness; to guarantee, insure, coinsure, and reinsure against political and credit risks of loss; to purchase, sell, and guarantee securities but not to purchase with its funds any stock in any other corporation except that it may acquire any such stock through the enforcement of any lien or pledge or otherwise to satisfy a previously contracted indebtedness to it; to accept bills and drafts draw
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 635
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Federal law — U.S. Code and appendices · legal_authorities
Nothing in this subtitle shall be interpreted as superseding the provisions of [section 635a–3 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635a–3&num=0&edition=prelim), except that in the event of an assessment of duty based on a derogation under [section 1671e of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section1671e&num=0&edition=prelim) or action under [section 1671b(d)(1)(B) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section1671b/d/1/B&num=0&edition=prelim), the Secretary of the Treasury shall not authorize the Bank to provide guarantees, insurance and credits to competing United States sellers pursuant to [section 635a–3 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635a–3&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 19 U.S.C. § 1671g
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Federal law — U.S. Code and appendices · legal_authorities
Page 198
TITLE 12—BANKS AND BANKING
§ 635
(1) an act of war, insurrection, or civil strife;
or
(2) an action by a foreign government or in-
strumentality (whether de jure or de facto) in
the country in which the branch is located;
unless the member bank has expressly agreed in
writing to repay the deposit under those cir-
cumstances.
(b) Regulations
The Board and the Comptroller of the Cur-
rency may jointly prescribe such regulations as
they deem necessary to implement this section.
(Dec. 23, 1913, ch. 6, § 25C, as added Pub. L.
103–325, title III, § 326(a), Sept. 23, 1994, 108 Stat.
2229.)
Editorial Notes
CODIFICATION
Section was enacted as section 25C of the Federal Re-
serve Act, and not as part of section 25A of that Act
which comprises this subchapter.
Statutory Notes and Related Subsidiaries
EXISTING CLAIMS NOT AFFECTED
Pub. L. 103–325, title III, § 326(c), Sept. 23, 1994, 108
Stat. 2229, provided that: ‘‘Section 25C of the Federal
Reserve Act [this section] (as added by subsection (a))
shall not be applied retroactively and shall not be con-
strued to affect or apply to any claim or cause of action
addressed by that section arising from events or cir-
cumstances that occurred before the date of enactment
of this Act [Sept. 23, 1994].’’
CHAPTER 6A—EXPORT-IMPORT BANK OF
THE UNITED STATES
SUBCHAPTER I—GENERAL PROVISIONS
Sec.
635.
Powers and functions of Bank.
635a.
Management of Bank.
635a–1.
Export credit competition.
635a–2.
Implementation of regulations and proce-
dures to lessen adverse effect of loans and
guarantees on industries in United States;
report by United States International Trade
Commission; written consideration of views
of adversely affected parties.
635a–3.
Export-Import Bank financing to match for-
eign finan
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 635
Stored review status: historical_2024_not_currentness_verified. The source passage cites 12 U.S.C. § 635. This identifies an authority to review, not proof of applicability.