22 U.S.C. § 2184 — Trade credit insurance program for Cen-

Page 673 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 2184 1987—Subsec. (e)(2)(A)(ii). Pub. L. 100–202 substituted ‘‘$100,000,000’’ for ‘‘$40,000,000’’. 1984—Subsec. (e). Pub. L. 98–473 designated existing provisions as par. (1) and added par. (2). 1981—Subsec. (b). Pub. L. 97–113 provided for mainte- nance of a revolving fund account in the Treasury con- sisting of fees, earnings from fees, and income from guaranty operations and authorized investment of ac- count funds in obligations of the United States and use of investment income. 1979—Subsec. (f). Pub. L. 96–53, § 112(c), substituted ‘‘the Department of Housing and Urban Development’’ for ‘‘such Department’’, and struck out provisions set- ting forth minimum rate of interest as not less than one-half of one per centum above the then current rate on mortgages insured by the Department of Housing and Urban Development. Subsec. (j). Pub. L. 96–53, § 112(d), struck out require- ment that except for regional projects, guarantees for housing projects be granted to countries receiving or which have received in the two previous years assist- ance under part I of this subchapter and substituted provisions authorizing face amounts of housing guaran- tees through September 30, 1982 of not less than $25,000,000 for Israel and Egypt for provisions author- izing face amounts of housing guarantees until Sep- tember 30, 1978 of an amount not to exceed $75,000,000 in Israel and $30,000,000 in Portugal and Lebanon. 1978—Subsec. (a). Pub. L. 95–424, § 115(c), substituted ‘‘section 2182 or 2182a’’ for ‘‘section 2181, 2182, or 2182a’’. Subsec. (b). Pub. L. 95–424, § 115(d), struck out ‘‘2181 or’’ after ‘‘guarantees issued under section’’; sub- stituted ‘‘section 2182 of this title and administering housing guaranties heretofore authorized under this subpart and under’’ for ‘‘section 2181 and section 2182 of this title and of’’; struck out ‘‘2181 or’’ after ‘‘made pur- suant to section’’, and inserted ‘‘this subpart’’ after ‘‘heretofore pursuant to’’. Subsec. (c). Pub. L. 95–424, § 115(e), struck out ‘‘sec- tion 2181 or’’ after ‘‘guaranties issued under’’, and in- serted ‘‘under this subpart or’’ after ‘‘heretofore’’. Subsec. (d). Pub. L. 95–424, § 115(f), substituted ‘‘sec- tion 2182 or 2182a’’ for ‘‘section 2181, 2182, 2182a’’, and in- serted ‘‘under this subpart’’ after ‘‘heretofore’’. Subsec. (f). Pub. L. 95–424, § 115(g), substituted ‘‘sec- tion 2182’’ for ‘‘section 2181 or 2182’’. Subsec. (g). Pub. L. 95–424, § 115(h), inserted ‘‘here- tofore under this subpart’’ after ‘‘outstanding’’. Subsec. (i). Pub. L. 95–424, § 115(i), struck out subsec. (i) directing that the authority of sections 2181 and 2182 of this title shall continue until Sept. 30, 1979. Subsec. (j). Pub. L. 95–424, § 115(j), substituted ‘‘sec- tion 2182’’ for ‘‘sections 2181 and 2182’’. 1977—Subsec. (b). Pub. L. 95–88, § 117(b)(2), substituted ‘‘together with all fees collected in connection with guaranties issued under section 2181 or 2182 of this title or under prior housing guaranty authorities’’ for ‘‘to- gether with all fees collected in connection with guar- anties issued hereunder’’ and inserted provision that fees collected in connection with guaranties issued under section 2182a of this title shall likewise be avail- able to meet similar expenses, costs, or liabilities in- curred in connection with the programs authorized by that section. Subsec. (i). Pub. L. 95–88, § 117(a)(3), substituted ‘‘Sep- tember 30, 1979’’ for ‘‘September 30, 1978’’. Subsec. (j). Pub. L. 95–88, § 117(c), substituted ‘‘Sep- tember 30, 1978’’ for ‘‘September 30, 1977’’, ‘‘$75,000,000’’ for ‘‘$50,000,000’’ in provisions relating to housing guar- anties in Israel, ‘‘$30,000,000’’ for ‘‘$20,000,000’’ in provi- sions relating to housing guaranties in Portugal, and ‘‘$30,000,000’’ for ‘‘$15,000,000’’ in provisions relating to housing guaranties in Lebanon. 1976—Subsec. (j). Pub. L. 94–329 authorized President to issue housing guaranties until September 30, 1977, in Lebanon, not exceeding a face amount of $15,000,000. 1975—Subsec. (i). Pub. L. 94–161, § 311(5)(A), sub- stituted ‘‘September 30, 1978’’ for ‘‘June 30, 1976’’. Subsec. (j). Pub. L. 94–161, § 311(5)(B), added subsec. (j). 1974—Subsec. (a). Pub. L. 93–559, § 8(a)(3), inserted ref- erence to section 2182a of this title. Subsec. (b). Pub. L. 93–559, § 8(a)(4), substituted in first sentence ‘‘section 2181 and section 2182 of this title’’ for ‘‘this subpart’’. Subsec. (d). Pub. L. 93–559, § 8(a)(5), substituted ‘‘sec- tion 2181, 2182, 2182a, or previously under section 2200 of this title’’ for ‘‘section 2181 or section 2182 of this title’’. Subsec. (i). Pub. L. 93–559, § 7(2), substituted ‘‘June 30, 1976’’ for ‘‘June 30, 1975’’. 1973—Subsec. (i). Pub. L. 93–189 substituted ‘‘June 30, 1975’’ for ‘‘June 30, 1974’’. 1972—Subsec. (i). Pub. L. 92–226 substituted ‘‘June 30, 1974’’ for ‘‘June 30, 1972’’. Statutory Notes and Related Subsidiaries REFERENCES TO SUBCHAPTER I DEEMED TO INCLUDE CERTAIN PARTS OF SUBCHAPTER II References to subchapter I of this chapter are deemed to include parts IV (§ 2346 et seq.), VI (§ 2348 et seq.), and VIII (§ 2349aa et seq.) of subchapter II of this chapter, and references to subchapter II are deemed to exclude such parts. See section 202(b) of Pub. L. 92–226, set out as a note under section 2346 of this title, and sections 2348c and 2349aa–5 of this title. REFERENCES TO PART I DEEMED TO INCLUDE SECTION 2293 References to part I of this subchapter are deemed to include a reference to section 2293 of this title. See sec- tion 2293(d)(1) of this title. EFFECTIVE DATE OF 1984 AMENDMENT Section 311(d) of H.R. 5119, as passed by the House of Representatives on May 10, 1984, and enacted into per- manent law by Pub. L. 98–473, § 101(1) [title V, § 541(a)], Oct. 12, 1984, 98 Stat. 1884, 1903, provided that: ‘‘The amendment made by subsection (c) of this section [amending this section] shall take effect on the date of enactment of this Act [Oct. 12, 1984].’’ EFFECTIVE DATE OF 1979 AMENDMENT Amendment by Pub. L. 96–53 effective Oct. 1, 1979, see section 512(a) of Pub. L. 96–53, set out as a note under section 2151 of this title. EFFECTIVE DATE OF 1978 AMENDMENT Amendment by Pub. L. 95–424 effective Oct. 1, 1978, see section 605 of Pub. L. 95–424, set out as a note under section 2151 of this title. Executive Documents DELEGATION OF FUNCTIONS For delegation of functions of President under this section, see Ex. Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673, as amended, set out as a note under section 2381 of this title. § 2184. Trade credit insurance program for Cen- tral America (a) Guarantees to Export-Import Bank; financial transactions with private sector in Central American countries In order to enable the Export-Import Bank of the United States (hereafter in this section re- ferred to as the ‘‘Bank’’) to determine that there exists reasonable assurance of repayment as re- quired under section 2(b)(1)(B) of the Export-Im- port Bank Act of 1945 [12 U.S.C. 635(b)(1)(B)], the agency primarily responsible for administering subchapter I of this chapter (hereafter in this section referred to as the ‘‘Agency’’) is author- ized to provide guarantees to the Bank for li- abilities to be incurred by the Bank in connec- Page 674 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 2184 tion with guarantees or insurance provided under the Export-Import Bank Act of 1945 [12 U.S.C. 635 et seq.] for financing for transactions involving the export of goods and services for the use of the private sector in Central Amer- ican countries. (b) Extent of guarantees; agreements; reserve fund (1) Guarantees provided by the Agency pursu- ant to the authority of subsection (a) shall be for short-term guarantees and insurance ex- tended by the Bank which shall be repayable within a period not to exceed one year from the date of arrival at the port of importation of the goods and services covered by such guarantees or insurance. Guarantees or insurance extended by the Bank and guaranteed by the Agency pur- suant to subsection (a) shall be provided by the Bank in accordance with criteria and procedures agreed to by the Agency and the Bank. Such agreement shall also provide for the establish- ment of a reserve fund by the Agency, with such funds made available to the reserve as the Agen- cy deems necessary to discharge liabilities under guarantees provided by the Agency pursu- ant to subsection (a). (2) The Administrator of such agency shall transmit a copy of such agreement to the Speaker of the House of Representatives and to the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Af- fairs of the Senate. (c) Deadline for guarantee commitments The Agency shall not enter into any commit- ments to guarantee under subsection (a) after September 30, 1991. (d) Availability of appropriated funds Of the funds authorized to be appropriated for part IV of subchapter II of this chapter, there are authorized to be made available such sums as may be deemed necessary by the Agency to discharge liabilities under guarantees entered into under subsection (a). (e) Guarantee commitments limit Commitments to guarantee under subsection (a) are authorized only to the extent and in the amounts provided in appropriations Acts, except that the aggregate amount of outstanding com- mitments under subsection (a) may not exceed $300,000,000 of contingent liability for loan prin- cipal during fiscal year 1986 and may not exceed $400,000,000 of contingent liability for loan prin- cipal during fiscal year 1987. (f) Credits to reserve fund To the extent that any of the funds made available pursuant to subsection (d) are paid out for a claim arising out of liabilities guaranteed under subsection (a), amounts received after the date of such payment, with respect to such claim, shall be credited to the reserve fund re- ferred to in subsection (b), shall be merged with the funds in such reserve, and shall be available for the purpose of payments by the Agency to the Bank for guarantees under subsection (a). (g) Omitted (h) Administrative and technical assistance The Export-Import Bank shall provide without reimbursement such administrative and tech- nical assistance to the Agency as the Bank and the Agency deem appropriate to assist the Agen- cy in carrying out this section. (Pub. L. 87–195, pt. I, § 224, as added Pub. L. 98–473, title I, § 101(1) [title V, § 541(a)], Oct. 12, 1984, 98 Stat. 1884, 1903; amended Pub. L. 99–83, title III, § 314, Aug. 8, 1985, 99 Stat. 217; Pub. L. 101–167, title IV, Nov. 21, 1989, 103 Stat. 1216; Pub. L. 101–179, title III, § 304(b), Nov. 28, 1989, 103 Stat. 1313; Pub. L. 101–513, title IV, Nov. 5, 1990, 104 Stat. 2001.) Editorial Notes REFERENCES IN TEXT The Export-Import Bank Act of 1945, referred to in subsec. (a), is act July 31, 1945, ch. 341, 59 Stat. 526, which is classified generally to subchapter I (§ 635 et seq.) of chapter 6A of Title 12, Banks and Banking. For complete classification of the Act to the Code, see Short Title note set out under section 635 of Title 12 and Tables. CODIFICATION Subsec. (g) of this section, which required, at inter- vals of six months, the administrator of the agency pri- marily responsible for administering subchapter I of this chapter and the President of the Export-Import Bank of the United States to prepare and transmit to the Speaker of the House of Representatives and the Chairman of the Committee on Foreign Relations of the Senate a report on the amount and extension of credits during the preceding six-month period, termi- nated, effective May 15, 2000, pursuant to section 3003 of Pub. L. 104–66, as amended, set out as a note under sec- tion 1113 of Title 31, Money and Finance. See, also, page 148 of House Document No. 103–7. Section 224 of Pub. L. 87–195 is based on section 1011 of title X of H.R. 5119, Ninety-eighth Congress, as passed by the House of Representatives May 10, 1984, and enacted into law by Pub. L. 98–473. PRIOR PROVISIONS A prior section 224 of Pub. L. 87–195, pt. I, Sept. 4, 1961, 75 Stat. 432, as amended by Pub. L. 87–565, pt. I, § 104(c), Aug. 1, 1962, 76 Stat. 257; Pub. L. 88–205, pt. I, § 104(g), Dec. 16, 1963, 77 Stat. 382; Pub. L. 88–633, pt. I, § 103(b), Oct. 7, 1964, 78 Stat. 1010; Pub. L. 89–171, pt. I, § 104(e), Sept. 6, 1965, 79 Stat. 655; Pub. L. 89–583, pt. I, § 104(c), Sept. 19, 1966, 80 Stat. 798; Pub. L. 90–137, pt. I, § 104(d), Nov. 14, 1967, 81 Stat. 451; Pub. L. 90–554, pt. I, § 104, Oct. 8, 1968, 82 Stat. 961, related to housing projects in Latin America, prior to the general reorga- nization of this subpart by Pub. L. 91–175, pt. I, § 105, Dec. 30, 1969, 83 Stat. 807. See section 2182 of this title. AMENDMENTS 1990—Subsec. (c). Pub. L. 101–513 substituted ‘‘1991’’ for ‘‘1990’’. 1989—Pub. L. 101–179 inserted ‘‘for Central America’’ after ‘‘program’’ in section catchline. Subsec. (c). Pub. L. 101–167 substituted ‘‘1990’’ for ‘‘1989’’. 1985—Subsec. (e). Pub. L. 99–83 substituted ‘‘except that the aggregate amount of outstanding commit- ments under subsection (a) may not exceed $300,000,000 of contingent liability for loan principal during fiscal year 1986 and may not exceed $400,000,000 of contingent liability for loan principal during fiscal year 1987’’ for ‘‘not to exceed $300,000,000 in the fiscal year 1985’’. Statutory Notes and Related Subsidiaries REFERENCES TO SUBCHAPTER I DEEMED TO INCLUDE CERTAIN PARTS OF SUBCHAPTER II References to subchapter I of this chapter are deemed to include parts IV (§ 2346 et seq.), VI (§ 2348 et seq.), and Page 675 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 2185 1 So in original. Probably should be ‘‘has’’. VIII (§ 2349aa et seq.) of subchapter II of this chapter, and references to subchapter II are deemed to exclude such parts. See section 202(b) of Pub. L. 92–226, set out as a note under section 2346 of this title, and sections 2348c and 2349aa–5 of this title. EFFECTIVE DATE OF 1985 AMENDMENT Amendment by Pub. L. 99–83 effective Oct. 1, 1985, see section 1301 of Pub. L. 99–83, set out as a note under sec- tion 2151–1 of this title. § 2185. Trade credit insurance program for Po- land (a) General authority (1) Assurance to Export-Import Bank of repay- ment The President is authorized to provide guar- antees to the Bank for liabilities described in paragraph (2) in order to satisfy the require- ment of section 2(b)(1)(B) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)(B)) that the Bank have 1 reasonable assurance of repay- ment. (2) Liabilities which may be guaranteed The liabilities that may be guaranteed under paragraph (1) are liabilities incurred by the Bank in connection with guarantees or insur- ance provided under the Export-Import Bank Act of 1945 [12 U.S.C. 635 et seq.] for financing for transactions involving the export of goods and services for the use of the private sector in Poland. (b) Guarantees available only for short-term guarantees and insurance Guarantees provided under subsection (a) shall be for short-term guarantees and insurance ex- tended by the Bank which shall be repayable within a period not to exceed one year from the date of arrival at the port of importation of the goods and services covered by such guarantees or insurance. (c) Agreement on criteria and procedures Guarantees or insurance extended by the Bank and guaranteed pursuant to subsection (a) shall be provided by the Bank in accordance with cri- teria and procedures agreed to by the Adminis- trator and the Bank. (d) Reserve fund The agreement referred to in subsection (c) shall also provide for the establishment of a re- serve fund by the administering agency, with such funds made available to the reserve as the Administrator deems necessary to discharge li- abilities under guarantees provided under sub- section (a). (e) Discharge of liabilities (1) Funds which may be used Such amounts of the funds made available to carry out part IV of subchapter II of this chap- ter (relating to the economic support fund) as the President determines are necessary may be made available to discharge liabilities under guarantees entered into under sub- section (a). (2) Crediting of subsequent payments To the extent that any of the funds made available pursuant to paragraph (1) are paid out for a claim arising out of liabilities guar- anteed under subsection (a), amounts received after the date of such payment, with respect to such claim, shall be credited to the reserve fund established pursuant to subsection (d), shall be merged with the funds in such reserve, and shall be available for the purpose of pay- ments by the Administrator to the Bank for guarantees under subsection (a). (f) Appropriations action required Commitments to guarantee under subsection (a) are authorized only to the extent and in the amounts provided in advance in appropriations Acts. (g) Limitation on outstanding commitments The aggregate amount of outstanding commit- ments under subsection (a) may not exceed $200,000,000 of contingent liability for loan prin- cipal during any fiscal year. (h) Omitted (i) Administrative and technical assistance The Bank shall provide, without reimburse- ment, such administrative and technical assist- ance to the administering agency as the Bank and the Administrator determine appropriate to assist the administering agency in carrying out this section. (j) Fees and premiums The Bank is authorized to charge fees and pre- miums, in connection with guarantees or insur- ance guaranteed by the administering agency under subsection (a), that are commensurate (in the judgment of the Bank) with the Bank’s ad- ministrative costs and the risks covered by the agency’s guarantees. Any amounts received by the Bank in excess of the estimated costs in- curred by the Bank in administering such guar- antees or insurance— (1) shall be credited to the reserve fund es- tablished pursuant to subsection (d), (2) shall be merged with the funds in such re- serve, and (3) shall be available for the purpose of pay- ments by the administering agency to the Bank for guarantees under subsection (a). (k) Restrictions not applicable Prohibitions on the use of foreign assistance funds for assistance for Poland shall not apply with respect to the funds made available to carry out this section. (l) Expiration of authority The President may not enter into any com- mitments to guarantee under subsection (a) after September 30, 1992. (m) Definitions For purposes of this section— (1) the term ‘‘administering agency’’ means the Agency for International Development; (2) the term ‘‘Administrator’’ means the Ad- ministrator of the Agency for International Development; and (3) the term ‘‘Bank’’ means the Export-Im- port Bank of the United States. (Pub. L. 87–195, pt. I, § 225, as added Pub. L. 101–179, title III, § 304(a), Nov. 28, 1989, 103 Stat. 1312.)