Export-Import Bank Amendments of 1988

Summary

Export-Import Bank Amendments of 1988 - Amends the Export-Import Bank Act of 1945 to prohibit the aggregate amount of loan subsidies provided by the Export-Import Bank (Bank) from exceeding the amount of funds appropriated for such subsidies for any fiscal year after FY 1989. Requires the Bank to include in its annual budget proposal and appropriation request: (1) the amount requested to be provided in an appropriations Act for such fiscal year for spending or credit authority provided under such Act; and (2) an estimate of the total amount of the subsidies involved. Requires the Bank to use Office of Management and Budget guidelines in estimating subsidy amounts. Defines "subsidy" as the difference between the cost to the borrower of a loan made, insured, or provided an interest subsidy by the Bank and the cost the borrower would have incurred in obtaining the financing from private sources without Bank action. Authorizes appropriations for such subsidies. Specifies that any amount appropriated for subsidies shall: (1) become available to the Bank as loans, loan obligations, and commitments are made by the Bank; and (2) be permanent additions to the capital and reserves of the Bank.

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1 official file

• Introduced in House

  summary · EN · 2 March 1988

  Open at official source

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