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12 U.S.C. § 635f — Termination date of Bank’s functions; exceptions; liquidation
Federal law — U.S. Code and appendices · legal_authorities
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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Stable record: federal_law:legal_authorities:record_usc_7736dc3c74170c2220afceba
Source file: Laws/federal/codes/united-states-code/title-12/section-635f-termination-date-of-banks-functions-exceptions-liquidation--06658b5008.md
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Passage SHA-256: 333e830f3ba6736d39ed2b63890808b631613a14ed7b4752c1557ace234ab015
Source location: Title 12, Chapter 6A, § 635f; chapter-6a-export-import-bank-of-the-united-states.md
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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
**(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
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 635e
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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
**(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 Ba
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 635g
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Classes of aliens ineligible for visas or admission** Except as otherwise provided in this chapter, aliens who are inadmissible under the following paragraphs are ineligible to receive visas and ineligible to be admitted to the United States:
(1) **Health-related grounds**
(A) *In general* — Any alien—
(i) who is determined (in accordance with regulations prescribed by the Secretary of Health and Human Services) to have a communicable disease of public health significance; 11 So in original. The semicolon probably should be a comma.
(ii) except as provided in subparagraph (C), who seeks admission as an immigrant, or who seeks adjustment of status to the status of an alien lawfully admitted for permanent residence, and who has failed to present documentation of having received vaccination against vaccine-preventable diseases, which shall include at least the following diseases: mumps, measles, rubella, polio, tetanus and diphtheria toxoids, pertussis, influenza type B and hepatitis B, and any other vaccinations against vaccine-preventable diseases recommended by the Advisory Committee for Immunization Practices,
(iii) who is determined (in accordance with regulations prescribed by the Secretary of Health and Human Services in consultation with the Attorney General)—
(I) to have a physical or mental disorder and behavior associated with the disorder that may pose, or has posed, a threat to the property, safety, or welfare of the alien or others, or
(II) to have had a physical or mental disorder and a history of behavior associated with the disorder, which behavior has posed a threat to the property, safety, or welfare of the alien or others and which behavior is likely to recur or to lead to other harmful behavior, or
(iv) who i
Source: Supplied U.S. Code snapshot — release unconfirmed · 8 U.S.C. § 1182
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Federal law — U.S. Code and appendices · legal_authorities
Page 237
TITLE 12—BANKS AND BANKING
§ 635f
2015—Subsec. (a)(2) to (4). Pub. L. 114–94, § 51001, added
pars. (2) and (3), redesignated former par. (3) as (4), and
struck out former par. (2) which defined the term ‘‘ap-
plicable amount’’.
Subsecs. (b), (c). Pub. L. 114–94, § 51002(a), added sub-
sec. (b) and redesignated former subsec. (b) as (c).
2012—Subsec. (a)(2)(F). Pub. L. 112–122 added subpar.
(F).
2006—Subsec. (a)(2)(E). Pub. L. 109–438 amended sub-
par. (E) generally. Prior to amendment, subpar. (E)
read
as
follows:
‘‘during
fiscal
year
2006,
$100,000,000,000.’’
2002—Subsec. (a). Pub. L. 107–189 reenacted heading
without change and amended text generally. Prior to
amendment, text read as follows: ‘‘The Export-Import
Bank of the United States shall not have outstanding
at any one time loans, guaranties, and insurance in an
aggregate amount in excess of $75,000,000,000. All spend-
ing 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.’’
2000—Subsec. (b)(2), (3). Pub. L. 106–569 redesignated
par. (3) as (2) and struck out heading and text of former
par. (2). Text read as follows: ‘‘Not later than April 15
of each year, the President of the United States shall
transmit to the Congress a report on such determina-
tion.’’
1992—Pub. L. 102–429, § 109(b), inserted section catch-
line, redesignated former subsec. (a)(1) as subsec. (a),
inserted subsec. heading, substituted ‘‘$75,000,000,000’’
for ‘‘$40,000,000,000’’, redesignated former subsec. (a)(2)
as subsec. (b), redesignated former subpar. (A)(i) as par.
(1), former subcls. (I) to (III) as subpars. (A) to (C), re-
spectively, former subpar. (A)(ii) as par. (2), former su
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 635f
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