A bill to amend the Export-Import Bank Act of 1945, as amended, to extend for 4 years the period within which the Bank is authorized to exercise its functions, to increase the Bank's loan, guarantee, and insurance authority, to clarify its authority to maintain fractional reserves for insurance and guarantees, and to amend the National Bank Act to exclude from the limitations on outstanding indebtedness of national banks liabilities incurred in borrowing from the Bank, and for other purposes.

Summary

Authorizes the Export-Import Bank to cause to be published materials necessary to further the objects and purposes for which it was established, without regard to prior provisions of law. Requires the Bank to maintain reserves of not less than 25 percent of the related contractual liability incurred for guarantees, insurance, coinsurance, and reinsurance against political and credit risks of loss. States that the aggregate amount of guarantees, insurance, coinsurance, and reinsurance which may be accounted for in a fractional reserve basis pursuant to this Act shall not exceed $20,000,000,000 at any one time. Increases the maximum authorized outstanding amount at any one time on loans, guarantees, and insurance from twenty to thirty billion dollars. Extends the termination date with respect to the functions of the Bank from June 30, 1974, to June 30, 1978.

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• Introduced in House

  summary · EN · 1 April 1974

  Open at official source

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