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 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 (currently 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.

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. 593.

   Source: Calendars

2. 26 March 1986

   Reported

   Committee on Banking. Reported to Senate by Senator Heinz without amendment. With written report No. 99-274. 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. 99-274. 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. 9 October 1986

   Floor

   Indefinitely postponed by Senate by Unanimous Consent.

   Source: Floor

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 26 March 1986

  Open at official source

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. Proxmire, William [D-WI] · D · Sponsor
• Sen. Cranston, Alan [D-CA] · D · Sponsor
• Sen. Gorton, Slade [R-WA] · R · Sponsor
• · ssbk00 · Standing

Related records

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