Export-Import Bank Act Amendments of 1986

Summary

Export-Import Bank Act Amendments of 1986 - Amends the Export-Import Bank Act of 1945 to authorize the Export-Import Bank (the Bank) to provide a sufficient return to lenders making loans in support of exports when below-market rate financing is necessary to respond to subsidized financing by foreign export credit agencies. Limits the percentage of the Bank loans that may be supported by interest subsidy payments in FY 1987 and 1988. Terminates the Bank's authority to make such payments on October 1, 1988. Authorizes the Bank to impose a fee to cover the Bank's expenses for providing any good or service in connection with and in furtherance of the Bank's objects and purposes. Requires the Bank to include in its annual report a list of the loan, guarantee, or insurance applications which the Bank rejected during the preceding year. Prohibits the Bank from imposing a credit application fee unless specified conditions relating to the competitiveness of the fee and the availability of repayment options are met. Requires the Bank to: (1) enhance its guarantee program to provide the broadest possible participation by private capital sources; (2) provide for the unrestricted transferability and assignability of its guarantees; and (3) report to the Congress on its actions under this paragraph. Authorizes any Bank director whose term has expired to serve until a successor has been qualified. Limits the aggregate present value of the Bank's commitments to make interest subsidy payments and the subsidy component of loans extended by the Bank in any fiscal year after FY 1986. Authorizes appropriations for such purposes for FY 1987. Extends the authority of such Act through FY 1988. Requires the Secretary of the Treasury (the Secretary), within 60 days of receiving information that a foreign country is offering official export credit to finance exports to the United States, to determine whether the terms of such offer are inconsistent with any agreement governing official export financing to which the United States is a party. Requires the Secretary, if such offer is inconsistent with an agreement, to: (1) determine if the inconsistency is likely to be a significant factor in the sale of such import; and (2) request the country which is offering such credit to withdraw or amend the offer. Authorizes the Secretary to authorize the Bank to provide equivalent financing to a competing U.S. seller and requires the Secretary to request the initiation of a countervailing duty investigation under the Tariff Act of 1930 if the Secretary determines that such inconsistency is likely to be a significant factor in the sale of such import. Authorizes the Bank, upon receipt of an authorization from the Secretary, to provide a competing U.S. seller with equivalent financing. Requires the Bank to report to the Congress by April 15, 1987, on an analysis of the Bank's medium-term financing program. Sets forth information to be included in such analysis.

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Documents

4 official files

• Passed Senate amended

  summary · EN · 22 July 1986

  Open at official source

• Passed House amended

  summary · EN · 15 July 1986

  Open at official source

• Reported to House with amendment(s)

  summary · EN · 6 May 1986

  Open at official source

• Introduced in House

  summary · EN · 25 March 1986

  Open at official source

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