A bill to amend and extend the Export-Import Bank Act of 1945, and to eliminate foreign predatory export practices.

Summary

Title I: Export-Import Bank Act Extension - Export-Import Bank Act Amendments of 1986 - Amends the Export-Import Bank Act of 1945 to authorize the Export-Import Bank (the Bank) to collect fees to cover the marginal costs of the Bank's conferences and publications. Requires the Bank's medium-term financing program to: (1) be available in the form of direct credits to the foreign borrower to finance exports having a value of not less than $50,000; (2) impose minimal administrative, procedural, and documentary burdens on its users; (3) not require the payment of fees unless such fees are equivalent to those charged under the Bank's long-term loan program and are in accordance with certain other requirements. Deletes the provision that declares that the Bank's terms and conditions need not be equivalent to those offered by foreign countries. Prohibits the Bank from imposing a credit application fee unless: (1) the fee is competitive with the average fee charged by the Bank's primary foreign competitors and is related to the risk of the transaction; and (2) the borrower or the U.S. exporter is given the option of paying the fee over the lifetime of the loan. Prohibits the Bank from withdrawing or denying financing to a country or for a transaction backed by a country on the basis that there is no reasonable assurance of repayment if the National Advisory Council on International Monetary and Financial Policies (the National Advisory Council) makes a contrary determination. Requires the Bank to provide medium-term risk protection coverage through multiple exporter organizations for the members and clients of such organizations. Requires that support of exports under the Export-Import Bank Act of 1945 shall be made available to U.S. exporters directly or to U.S. banks, non-U.S. banks, or nonbank lenders financing U.S. exports with such support. Requires the Bank to authorize the transferability of medium- and long-term obligations insured or guaranteed by the Bank without affecting, limiting, or terminating the guarantee or insurance provided by the Bank. Authorizes appropriations for FY 1987 to cover the net subsidy cost of new direct loans under the program limitations of FY 1987. Extends the authority of such Act through FY 1996. Requires the Bank, in all cases involving potential adverse impact on domestic industries or employment, to consider and address in writing the view of parties who may be substantially adversely affected by the loan or guarantee before taking final action on such loan or guarantee. Requires the Secretary of the Treasury to investigate whether noncompetitive financing is being offered whenever the Secretary receives information that a foreign country is providing export credits that exceed the limits of certain agreements irrespective of whether the governments offering the credits are signatories to such agreements. Requires (current law authorizes) the Bank to be authorized to provide matching financing if the foreign government does not withdraw such credits or does not respond to the U.S. request that such credits be withdrawn. (Current law conditions such requirement upon a finding that the availability of noncompetitive financing is likely to be a significant factor in the sale.) Requires the Bank to report to the Congress on its medium-term export support program by April 15, 1987. Sets forth information to be included in such report. Requires the Bank and the Office of Management and Budget to report to the Congress and the General Accounting Office on: (1) the need for U.S. Government involvement in export credit insurance; (2) the need to employ an agent in administering government-supported insurance programs; and (3) the efficiency and effectiveness of continuing to use the Foreign Credit Insurance Association as the Bank's agent. Title II: Elimination of Foreign Predatory Export Credit Practices - Fair Export Financing Act of 1986 - Directs the Secretary of the Treasury (the Secretary) to establish within the Department of the Treasury a program of tied aid credits for U.S. exports in order to facilitate the negotiation of a comprehensive international arrangement restricting the use of tied aid and partially untied aid credits for commercial purposes. Authorizes using such tied aid credit facility to respond to predatory financing activities by other countries. Requires the tied aid credit program to be carried out by the Secretary in cooperation with the Bank or with private financial institutions or entities. Prohibits approval of any financing under programs authorized by this Act without the concurrence of the National Advisory Council. Authorizes the U.S. Trade Representative and the Secretary of Commerce to provide to the Secretary and the National Advisory Council trade information on those countries which block progress toward a comprehensive international arrangements on tied aid credit. Sets forth financing methods that may be included in such program. Authorizes appropriations for FY 1987 and 1988 for such program. Authorizes the Secretary to reimburse the Export-Import Bank for the cost of tied aid credits authorized by the Export-Import Bank during FY 1986. Requires each financing made pursuant to such program to be consistent with the procedures established by the Arrangement on Guidelines for Officially Supported Export Credits. Limits judicial review of actions by the National Advisory Council, the Secretary, and the Chairman of the Export-Import Bank. Requires the Secretary to report every six months to the Congress on: (1) the principal offers of predatory financing by foreign countries during the past six months; (2) steps taken to combat specific predatory financing practices of foreign countries; (3) use of the fund by the United States to match specific predatory financing practices of foreign countries and to initiate tied aid credit offers; (4) the additional steps the United States will take to discourage such practices; and (5) progress achieved in negotiations to establish a comprehensive international arrangement restricting the use of tied aid and partially untied aid credits.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 26 March 1986

   Calendars

   Placed on Senate Legislative Calendar under General Orders. Calendar No. 592.

   Source: Calendars

2. 26 March 1986

   Reported

   Committee on Banking. Reported to Senate by Senator Heinz without amendment. With written report No. 99-273. Additional views filed.

   Source: Committee

3. 26 March 1986

   Reported

   Committee on Banking. Reported to Senate by Senator Heinz without amendment. With written report No. 99-273. Additional views filed.

   Source: Committee

4. 26 March 1986

   Introduced

   Read twice and referred to the Committee on Banking.

   Source: IntroReferral

5. 26 March 1986

   Introduced

   Introduced in Senate

   Source: IntroReferral

6. 21 July 1986

   Floor

   Measure laid before Senate by unanimous consent.

   Source: Floor

7. 22 July 1986

   Floor

   Considered by Senate.

   Source: Floor

8. 9 October 1986

   Floor

   Indefinitely postponed by Senate by Unanimous Consent.

   Source: Floor

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

2 official files

• Indefinitely postponed in Senate

  summary · EN · 9 October 1986

  Open at official source

• Introduced in Senate

  summary · EN · 26 March 1986

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Heinz, John [R-PA] · R · Sponsor
• Sen. Garn, E. J. (Jake) [R-UT] · R · Sponsor
• Sen. Dodd, Christopher J. [D-CT] · D · Sponsor
• Sen. Gorton, Slade [R-WA] · R · Sponsor
• Sen. Dixon, Alan J. [D-IL] · D · Sponsor
• Sen. Danforth, John C. [R-MO] · R · Sponsor
• Sen. Chafee, John H. [R-RI] · R · Sponsor
• Sen. Cranston, Alan [D-CA] · D · Sponsor
• · ssbk00 · Standing

Related records

• related to → Export-Import Bank Act Amendments of 1986
• amends ← To conform with Budget Act requirements.
• amends ← To prohibit certain transactions.
• amends ← To conform with Budget Act requirements.
• amends ← To update the list of Communist countries needing a waiver to obtain Export-Import Bank loans, guarantees and insurance.
• amends ← To amend the Trade Act of 1974 to make workers and firms that supply parts and services for the oil and gas industry eligible for trade adjustment assistance.
• amends ← To provide for a replenishment of funds to finance price support programs of the Department of Agriculture.
• amends ← To require the Secretary of Agriculture to permit all foreign purchasers who have traditionally purchased United States agricultural commodities and products, and who maintain trade relations with the United States, to participate in the agricultural export enhancement program.
• amends ← To require the United States representatives to international financial institutions to oppose assistance by such institutions for the production or extraction of commodities of minerals in competition with United States produced commodities or minerals, and for other purposes.

Showing 9 of 11 related records.