Export-Import Bank Amendments of 1983 - Title I: Amendments to the Export-Import Bank Act of 1945 - Amends the Export-Import Bank Act of 1945 in order to direct the Bank to provide guarantees, insurance, and extensions of credit at fully competitive rates and terms as those available to foreign competitors of U.S. exporters. Declares that loans made by the Bank shall bear interest at rates determined by the Board of Directors in order to bear interest at rates and on terms and conditions which are fully competitive with exports of other countries.
States that the Advisory Committee shall consist of 12 members (currently nine). Requires the Advisory Committee to meet at least once each quarter (currently once or more each year). Requires the Committee to submit a report to Congress concerning the extent to which the Bank is providing competitive financing to expand U.S. exports and suggestions for improvements. Authorizes members of the Committee to attend meetings of the Board of Directors on a rotating basis.
Sets forth the terms of office for members of the Board of Directors.
Sets forth the limits on the gross obligations for principal amount of direct loans authorized by the Bank for FY 1984 and 1985.
Extends the authorization for the Bank until September 30, 1989.
Requires the Secretary of the Treasury to complete an inquiry into the existence of foreign noncompetitive financing within 60 days following the receipt of information concerning such financing. Authorizes the Secretary to issue an authorization to the Bank to provide matching financing to U.S. exporters upon a determination that the availability of such foreign noncompetitive financing is likely to be a significant factor in a proposed transaction. Requires the Bank to provide such matching financing upon receipt of the Secretary's authorization.
Requires the Board of Directors to finally approve any loan, financial guarantee or combination of both which exceeds $250,000,000, unless the Bank has submitted a certain statement to Congress describing and explaining the transaction.
Requires the Bank to operate a medium term credit program. Sets forth actions the Bank should take in order to be fully competitive with nations whose exports compete with U.S. exports.
Title II: Mixed Credit Export Subsidies - Trade and Development Enhancement Act of 1983 - Requires the President to pursue negotiations to limit and set rules for the use of mixed financing for exports. Lists the negotiating objectives of the United States in reaching agreements on the use of such financing.
Requires the Chairman of the Bank to establish a program of mixed financing for U.S. exports within the Bank. Requires such program to be carried out in cooperation with the Agency for International Development and with appropriate private financial entities. Lists the types of financing the program may include. Declares that the purpose of the program shall be to offer financing for U.S. exports which is as concessional as financing offered by a foreign government to a bona fide foreign competitor of a U.S. export sale. States that U.S. exports which could reasonably by judged to have been offered at the lowest evaluated bid shall be eligible for concessional mixed financing. Authorizes the Chairman to establish a fund to carry out this program.
Requires the Administrator of the Agency for International Development (AID) to establish a program of mixed financing for U.S. exports. Directs that the program be carried out in cooperation with the Bank and with private financial entities. Lists the financing authorized for such program. Authorizes the combination of AID funds with Bank or private financing to provide financing for U.S. exports which is substantially as concessional as that offered by a foreign government to a bona fide competitor of a U.S. export sale. Requires that AID funds be offered only to finance U.S. exports which will contribute to the advancement of the developing objectives of the importing country. Authorizes the Administrator to draw on Economic Support Funds and to establish a fund to carry out the mixed financing program.
Requires the President to appoint an individual to coordinate and ensure the implementation of both mixed financing programs.
Authorizes appropriations.
Title III: Export Expansion Facility Amendments of 1983 - Export Expansion Facility Amendments of 1983 - Declares that it is U.S. policy that the Export- Import Bank should, particularly in the presence of foreign officially supported export credit competition, facilitate through loans, guarantees, and insurance exports to countries which: (1) do not currently have sufficient access to international credit facilities to finance additional imports from the United States; (2) are demonstrating reasonable progress toward economic stabilization and development; (3) offer adequate assurances of repayment or foreign exchange availability; and (4) could make a significant contribution to the long-term interests of the United States through increased trade.
Increases the limit on total Bank commitments. Provides that the activities authorized by this title shall be carried out through an Export Expansion Facility. Sets forth the method of capitalizing the Facility. Requires that not less than 30 percent of the Bank's net income or $20,000,000, whichever is less, be set aside each year for the Export Expansion Facility.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to House Committee on Foreign Affairs.
Referred to Subcommittee on International Economic Policy and Trade.
Referred to Subcommittee on International Trade, Investment and Monetary Policy.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line