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12 U.S.C. § 635g — Report to Congress; time for submission; contents

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12 U.S.C. § 635g — Report to Congress; time for submission; contents

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Stable record: federal_law:legal_authorities:record_usc_6f700b92fec58039b0e56ed9
Source file: Laws/federal/codes/united-states-code/title-12/section-635g-report-to-congress-time-for-submission-contents--361539cb35.md
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Source location: Title 12, Chapter 6A, § 635g; chapter-6a-export-import-bank-of-the-united-states.md

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**(a) Annual submission of report** The Export-Import Bank of the United States shall transmit to the Congress annually a complete and detailed report of its operations. Such report shall be as of the close of business on the last day of each fiscal year. **(b) Report on allocation of sums set aside for small business exports** (1) The Bank shall include in its annual report to the Congress a report on the allocation of the sums set aside for small business exports pursuant to [section 635(b)(1)(E) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635/b/1/E&num=0&edition=prelim). (2) Such report shall specify— (A) the total number and dollar volume of loans made from the sums set aside; (B) the number and dollar volume of loans made through the consortia program under [section 635(b)(1)(E)(vii) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635/b/1/E/vii&num=0&edition=prelim); (C) the amount of guarantees and insurance provided for small business exports; (D) the number of recipients of financing from the sums set aside who have not previously participated in the Bank’s programs; (E) the number of commitments entered into in amounts less than $500,000; and (F) any recommendations for increasing the participation of banks and other institutions in the programs authorized under [section 635(b)(1)(E) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635/b/1/E&num=0&edition=prelim). (3) For the purpose of this subsection, the Bank’s report shall be transmitted to the Committee on Small Business of the Senate and the Committee on Small Business of the House of Representatives. **(c) Technology to assist small businesses** The Bank shall include in its annual report to the Congress under subsection (a) of this section for each of fiscal years 2002 through 2006 a report on the efforts made by the Bank to carry out subparagraphs (E)(x) and (J) of [section 635(b)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635/b/1&num=0&edition=prelim), and on how the efforts are assisting small business concerns (as defined in [section 632(a) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section632/a&num=0&edition=prelim)). **(d) Number of small business suppliers of Bank users** The Bank shall estimate on the basis of an annual survey or tabulation the number of entities that are suppliers of users of the Bank and that are small business concerns (as defined in [section 632(a) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section632/a&num=0&edition=prelim)) located in the United States, and shall include the estimate in its annual report to the Congress under subsection (a) of this section. **(e) Outreach to certain small businesses** The Bank shall include in its annual report to the Congress under subsection (a) of this section a description of outreach efforts made by the Bank to any socially and economically disadvantaged small business concerns (as defined in [section 637(a)(4) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section637/a/4&num=0&edition=prelim)), small business concerns (as defined in [section 632(a) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section632/a&num=0&edition=prelim)) owned by women, and small business concerns (as defined in [section 632(a) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section632/a&num=0&edition=prelim)) employing fewer than 100 employees. **(f) Additional reports** Not later than March 31 of each year, the Bank 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 reports on— (1) the extent to which the Bank has been able to use the authority provided, and has complied with the mandates contained, in [section 635(b)(1)(E) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635/b/1/E&num=0&edition=prelim), and to the extent the Bank has been unable to fully use such authority and comply with such mandates, a report on the reasons for the Bank’s inability to do so and the steps the Bank is taking to remedy such inability; (2) the extent to which financing has been made available to small business concerns (described in subsection (e)) to enable them to participate in exports by major contractors, including through access to the supply chains of the contractors through direct or indirect funding; (3) the specific measures the Bank will take in the upcoming year to achieve the small business objectives of the Bank, including expanded outreach, product improvements, and related actions; (4) the progress made by the Bank in supporting exports by socially and economically disadvantaged small business concerns (defined in [section 637(a)(4) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section637/a/4&num=0&edition=prelim)) and small business concerns (as defined in [section 632(a) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section632/a&num=0&edition=prelim)) owned by women, including estimates of the amounts made available to finance exports directly by such small business concerns, a comparison of these amounts with the amounts made available to all small business concerns, and a comparison of such amounts with the amounts so made available during the 2 preceding years; (5) with respect to each type of transaction, the interest and fees charged by the Bank to exporters (including a description of fees and interest, if any, charged to small business concerns), buyers, and other applicants in connection with each financing program of the Bank, and the highest, lowest, and average fees charged by the Bank for short term insurance transactions; (6) the effects of the fees on the ability of the Bank to achieve the objectives of the Bank relating to small business; (7) the fee structure of the Bank as compared with those of foreign export credit agencies; and (8) (A) the efforts made by the Bank to carry out subparagraphs (E)(x) and (J) of [section 635(b)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635/b/1&num=0&edition=prelim), including the total amount expended by the Bank to do so; and (B) if the Bank has been unable to comply with such subparagraphs— (i) an analysis of the reasons therefor; and (ii) what the Bank is doing to achieve, and the date by which the Bank expects to have achieved, such compliance. **(g) Monitoring of default rates on bank financing; reports on default rates; safety and soundness review** (1) **Monitoring of default rates** — Not less frequently than quarterly, the Bank shall calculate the rate at which the entities to which the Bank has provided short-, medium-, or long-term financing are in default on a payment obligation under the financing, by dividing the total amount of the required payments that are overdue by the total amount of the financing involved. (2) **Additional calculation by type of product, by key market, and by industry sector; report to Congress** — In addition, the Bank shall, not less frequently than quarterly— (A) calculate the rate of default— (i) with respect to whether the products involved are short-term loans, medium-term loans, long-term loans, insurance, medium-term guarantees, or long-term guarantees; (ii) with respect to each key market involved; and (iii) with respect to each industry sector involved; and (B) submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on each such rate and any information the Bank deems relevant. (3) **Report on causes of default rate; plan to reduce default rate** — Within 45 days after a rate calculated under paragraph (1) equals or exceeds 2 percent, the Bank shall submit to the Congress a written report that explains the circumstances that have caused the default rate to be at least 2 percent, and includes a plan to reduce the default rate to less than 2 percent. (4) **Plan contents** — The plan referred to in paragraph (3) shall— (A) provide a detailed explanation of the processes and controls by which the Bank monitors and tracks outstanding loans; (B) detail specific planned actions, including a time frame for completing the actions, to reduce the default rate described in paragraph (1) to less than 2 percent. (5) **Monthly reports required while default rate is at least 2 percent** — For so long as the default rate calculated under paragraph (1) is at least 2 percent, the Bank shall submit monthly reports to the Congress describing the specific actions taken during such period to reduce the default rate. (6) **Safety and soundness review** — If the default rate calculated under paragraph (1) remains above 2 percent for a period of 6 months, the Secretary of the Treasury shall provide for an independent third party to— (A) conduct a review of the loan programs and funds of the Bank, which shall determine— (i) the financial safety and soundness of the programs and funds; and (ii) the extent of loan loss reserves and capital adequacy of the programs and funds; and (B) submit to the Secretary, within 60 days after the end of the 6-month period, a report that— (i) describes the methodology and standards used to conduct the review required by subparagraph (A); (ii) sets forth the results and findings of the review, including the extent of loan loss reserves and capital adequacy of the programs and funds of the Bank; and (iii) includes recommendations regarding restoring the reserves and capital to maintain the programs and funds in a safe and sound condition. **(h) Categorization of purpose of loans and long-term guarantees** In the annual report of the Bank under subsection (a), the Bank shall categorize each loan and long-term guarantee made by the Bank in the fiscal year covered by the report, and according to the following purposes: (1) “To assume commercial or political risk that exporter or private financial institutions are unwilling or unable to undertake”. (2) “To overcome maturity or other limitations in private sector export financing”. (3) “To meet competition from a foreign, officially sponsored, export credit competition”. (4) “Not identified”, and the reason why the purpose is not identified. **(i) Access to Bank products by the textile industry** The Bank shall include in its annual report to the Congress under subsection (a) of this section a report on the determinations made by the Advisory Committee under [section 635a(d)(5) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section635a/d/5&num=0&edition=prelim) in the year covered by the report. **(j) Textile and apparel supply chain financing** The Bank shall include in its annual report to the Congress under subsection (a) of this section a description of the success of the Bank in providing effective and reasonably priced financing to the United States textile and apparel industry for exports of goods manufactured in the United States that are used as components in global textile and apparel supply chains in the year covered by the report, and steps the Bank has taken to increase the use of Bank products by such firms. **(k) Report on programs for small- and medium-sized businesses** The Bank shall include in its annual report to Congress under subsection (a) a report on the programs of the Bank for United States businesses with less than $250,000,000 in annual sales. **(l) Report on authorizations under the Program on China and Transformational Exports** The Bank shall include in its annual report to Congress under subsection (a) a narrative and financial summary of the authorizations made under the Program on China and Transformational Exports.

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

22 U.S.C. § 3261 — Training program

The Department of Energy, in consultation with the Commission, shall establish and operate a safeguards and physical security training program to be made available to persons from nations and groups of nations which have developed or acquired, or may be expected to develop or acquire, nuclear materials and equipment for use for peaceful purposes. Any such program shall include training in the most advanced safeguards and physical security techniques and technology, consistent with the national security interests of the United States.

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

22 U.S.C. § 2151q — Endangered species

**(a) Congressional findings and purposes** The Congress finds the survival of many animal and plant species is endangered by over-hunting, by the presence of toxic chemicals in water, air and soil, and by the destruction of habitats. The Congress further finds that the extinction of animal and plant species is an irreparable loss with potentially serious environmental and economic consequences for developing and developed countries alike. Accordingly, the preservation of animal and plant species through the regulation of the hunting and trade in endangered species, through limitations on the pollution of natural ecosystems, and through the protection of wildlife habitats should be an important objective of the United States development assistance. **(b) Remedial measures** In order to preserve biological diversity, the President is authorized to furnish assistance under subchapter I of this chapter, notwithstanding [section 2420 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2420&num=0&edition=prelim), to assist countries in protecting and maintaining wildlife habitats and in developing sound wildlife management and plant conservation programs. Special efforts should be made to establish and maintain wildlife sanctuaries, reserves, and parks; to enact and enforce anti-poaching measures; and to identify, study, and catalog animal and plant species, especially in tropical environments. **(c) Funding level** For fiscal year 1987, not less than $2,500,000 of the funds available to carry out subchapter I of this chapter (excluding funds made available to carry out [section 2151b(c)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2151b/c/2&num=0&edition=prelim), relating to the Child

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

12 U.S.C. § 635f — Termination date of Bank’s functions; exceptions; liquidation

Export-Import Bank of the United States shall continue to exercise its functions in connection with and in furtherance of its objects and purposes until the close of business on December 31, 2026, but the provisions of this section shall not be construed as preventing the bank from acquiring obligations prior to such date which mature subsequent to such date or from assuming prior to such date liability as guarantor, endorser, or acceptor of obligations which mature subsequent to such date or from issuing, either prior or subsequent to such date, for purchase by the Secretary of the Treasury or any other purchasers, its notes, debentures, bonds, or other obligations which mature subsequent to such date or from continuing as a corporate agency of the United States and exercising any of its functions subsequent to such date for purposes of orderly liquidation, including the administration of its assets and the collection of any obligations held by the bank.

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

12 U.S.C. § 635 — Powers and functions of Bank

**(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

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

12 U.S.C. § 635h — Exemption from prohibition of [section 955 of title 18](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title18-section955&num=0&edition=prelim)

Notwithstanding the provisions of [section 955 of title 18](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title18-section955&num=0&edition=prelim), any person, including any individual, partnership, corporation, or association, may act for or participate with the Export-Import Bank of the United States in any operation or transaction, or may acquire any obligation issued in connection with any operation or transaction, engaged in by the Bank.

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

31 U.S.C. § 1113 — Congressional information

**(a)** (1) When requested by a committee of Congress having jurisdiction over receipts or appropriations, the President shall provide the committee with assistance and information. (2) When requested by a committee of Congress, additional information related to the amount of an appropriation originally requested by an Office of Inspector General shall be submitted to the committee. **(b)** When requested by a committee of Congress, by the Comptroller General, or by the Director of the Congressional Budget Office, the Secretary of the Treasury, the Director of the Office of Management and Budget, and the head of each executive agency shall— (1) provide information on the location and kind of available fiscal, budget, and program information; (2) to the extent practicable, prepare summary tables of that fiscal, budget, and program information and related information the committee, the Comptroller General, or the Director of the Congressional Budget Office considers necessary; and (3) provide a program evaluation carried out or commissioned by an executive agency. **(c)** In cooperation with the Director of the Congressional Budget Office, the Secretary, and the Director of the Office of Management and Budget, the Comptroller General shall— (1) establish and maintain a current directory of sources of, and information systems for, fiscal, budget, and program information and a brief description of the contents of each source and system; (2) when requested, provide assistance to committees of Congress and members of Congress in obtaining information from the sources in the directory; and (3) when requested, provide assistance to committees and, to the extent practicable, to members of Congress in evaluating the information obtained from the sources in the directory

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

12 U.S.C. § 635g — Report to Congress; time for submission;

Page 239 TITLE 12—BANKS AND BANKING § 635g Until Nov. 26, 1997, by Pub. L. 105–84, Nov. 14, 1997, 111 Stat. 1628. FINANCIAL ASSISTANCE TO THE UNION OF SOVIET SOCIALIST REPUBLICS Pub. L. 93–450, § 1, Oct. 18, 1974, 88 Stat. 1368, provided in part that the Bank shall not authorize any financial assistance to the Union of Soviet Socialist Republics during the life of Pub. L. 93–450, which extended the termination date from Oct. 15, 1974, to Nov. 30, 1974. § 635g. Report to Congress; time for submission; contents (a) Annual submission of report The Export-Import Bank of the United States shall transmit to the Congress annually a com- plete and detailed report of its operations. Such report shall be as of the close of business on the last day of each fiscal year. (b) Report on allocation of sums set aside for small business exports (1) The Bank shall include in its annual report to the Congress a report on the allocation of the sums set aside for small business exports pursu- ant to section 635(b)(1)(E) of this title. (2) Such report shall specify— (A) the total number and dollar volume of loans made from the sums set aside; (B) the number and dollar volume of loans made through the consortia program under section 635(b)(1)(E)(vii) of this title; (C) the amount of guarantees and insurance provided for small business exports; (D) the number of recipients of financing from the sums set aside who have not pre- viously participated in the Bank’s programs; (E) the number of commitments entered into in amounts less than $500,000; and (F) any recommendations for increasing the participation of banks and other institutions in the programs authorized under section 635(b)(1)(E) of this title. (3) For the purpose of this subsection, the Bank’s repor

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