Export - Import Bank Amendments

Summary

Export-Import Bank Amendments - Adds to the powers of the Export-Import Bank the power to guarantee, insure, coinsure, and reinsure against political and credit risks of loss. Revises the Export-Import Bank Act to provide that the Bank may offer guarantees, insurance, and extensions of credit. Directs the Bank, in cooperation with comparable institutions of foreign governments, to minimize competition in Government-sponsored export financing. Directs the Bank to advise small businesses of opportunities offered by the Bank. Requires that if the Bank, under the authority of the President, extends credit or guarantees to a Communist country, the President shall separately determine for each transaction over $40,000,000 whether it serves the national interest. Grants the Congress an opportunity to disapprove Bank transactions exceeding $50,000,000. Sets forth the procedure to be followed in Congress for any such disapproval. Disallows guarantees, insurance, or extension of credit by the Bank in connection with the purchase or lease of products by a Communist country with respect to which a disapproving resolution has been passed by the Congress. Prohibits guarantees, insurance, or extension of credit by the Bank in connection with any credit sale of defense articles or services. Allows 25 percent of the Bank's outstanding amounts to be guarantees and insurance against political and credit risks of loss. Changes the total allowable outstanding amount at anyone time from $20,000,000,000, to $30,000,000,000. Terminates the Bank's functions on June 30, 1978. Describes the contents of reports the Bank must file with the Congress.

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Timeline

1. 15 August 1974

   Reported

   Reported to Senate from the Committee on Banking, Housing and Urban Affairs, S. Rept. 93-1097.

   Source: Committee

2. 15 August 1974

   Reported

   Reported to Senate from the Committee on Banking, Housing and Urban Affairs, S. Rept. 93-1097.

   Source: Committee

3. 15 August 1974

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 19 September 1974

   Passed

   Measure indefinitely postponed in Senate, H.R. 15977 passed in lieu.

   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 · 19 September 1974

  Open at official source

• Introduced in Senate

  summary · EN · 15 August 1974

  Open at official source

Sponsors

• Sen. Stevenson, Adlai E., III [D-IL] · D · Sponsor
• · ssbk00 · Standing

Related records

• related to → Export-Import Bank Amendments of 1974