Export Trade Promotion and Trade Finance Act of 1991

Summary

Export Trade Promotion and Trade Finance Act of 1991 - Establishes within the Department of Commerce a Bureau of Trade Development and Finance, consisting of the Export-Import Bank of the United States (the Bank), the United States and Foreign Commercial Service, and the Assistant Secretary for Trade Development and the functions for which such Assistant Secretary was responsible immediately before the effective date of this Act. Provides for the Bureau to be headed by an Under Secretary of Commerce for Trade Development and Finance, appointed by the President with the advice and consent of the Senate. Amends the Export-Import Bank Act of 1945 to make such Under Secretary the President of the Bank. Makes the Secretary of Commerce the Chairman of the Board of Directors of the Bank. Amends the Omnibus Trade and Competitiveness Act of 1988 to require the United States and Foreign Commercial Service to assist the Bank to carry out its lending, loan guarantee, insurance, and other activities. Requires the Secretary of Commerce (currently, the Secretary of the Treasury) to chair the National Advisory Council on International Monetary and Financial Policies. Transfers the Bank to the Department of Commerce. Establishes the Interagency Committee on Trade Development and Finance to coordinate Federal policies, programs, and activities relating to international trade development and finance. Terminates the Trade Promotion Coordinating Committee. Amends the Export-Import Bank Act of 1945 to authorize appropriations to the Tied Aid Credit Fund for FY 1992 and 1993. Amends the Trade Act of 1974 to authorize the Trade Representative to take action to respond to the unreasonable use of tied aid or partially untied aid credits to subsidize exports. Amends the Export-Import Bank Act of 1945 to require the Bank to provide up to 100 precent coverage of the interest and principal on certain loan transactions. Allows the Bank to guarantee the timely payment of principal and interest on certain pool certificates.

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2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

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• Introduced in Senate

  summary · EN · 17 September 1991

  Open at official source

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