{ "id": "R43671", "type": "CRS Report", "typeId": "REPORTS", "number": "R43671", "active": false, "source": "EveryCRSReport.com, University of North Texas Libraries Government Documents Department", "versions": [ { "source": "EveryCRSReport.com", "id": 451786, "date": "2016-04-13", "retrieved": "2017-03-01T17:52:58.679139", "title": "Export-Import Bank: Frequently Asked Questions", "summary": "The Export-Import Bank of the United States (Ex-Im Bank or the Bank), a wholly owned federal government corporation, is the official export credit agency (ECA) of the U.S. government. Its mission is to assist in financing and facilitating U.S. exports of goods and services to support U.S. employment. Ex-Im Bank operates under a renewable general statutory charter (Export-Import Bank Act of 1945, as amended). In the 114th Congress, Ex-Im Bank\u2019s charter was extended through September 30, 2019, by the Export-Import Bank Reform and Reauthorization Act of 2015 (Division E of P.L. 114-94, a surface transportation authorization measure). Enacted on December 4, 2015, this act generally lowered Ex-Im Bank\u2019s statutory lending authority (\u201cexposure cap\u201d for outstanding portfolio) to $135 billion for each of FY2015-FY2019, and made reforms to, among other things, Ex-Im Bank\u2019s policies or operations in risk management, fraud controls, and ethics, as well as the U.S. approach to international negotiations on export credit financing. Ex-Im Bank\u2019s reauthorization, ultimately on a bipartisan basis in Congress, was preceded by active debate among Members about whether to renew Ex-Im Bank\u2019s authority and if so, for how long and under what terms. \nDebate continues in Congress over Ex-Im Bank\u2019s rationales. Proponents contend that the Bank supports U.S. exports and jobs by filling gaps in private sector financing and helping U.S. exporters compete against foreign companies backed by their ECAs. Critics contend that Ex-Im Bank crowds out private sector activity, provides \u201ccorporate welfare,\u201d and poses a risk to taxpayers. Members also may consider other issues, particularly possible nominations of members to Ex-Im Bank\u2019s five-member Board of Directors. The Board, whose members are appointed by the President and with the Senate\u2019s advice and consent, is responsible for approving Ex-Im Bank transactions for financing and insurance. Due to current vacancies on the Board, the Board does not have a quorum and cannot approve financial commitments above $10 million. Congress also may conduct oversight of Ex-Im Bank\u2019s implementation of reforms required by the 2015 reauthorization act, as well as issues presented by the international context for ECA activity, among other issues.\nCongressional consideration of Ex-Im Bank raises a range of questions. This report addresses a number of those questions that are frequently asked, including: \nWhat is the Export-Import Bank and what is the debate over its reauthorization? \nWhat is its leadership structure?\nWhat are its programs, policies, and activities?\nWhat is its international context? \nHow does its budget work?\nHow does it manage risk?\nWhat are the implications of a sunset in authority for the Bank\u2019s activities?\nWhat are historical and current approaches to Ex-Im Bank reauthorization? \nAdditional CRS resources on Ex-Im Bank include CRS Report R43581, Export-Import Bank: Overview and Reauthorization Issues, by Shayerah Ilias Akhtar, and CRS In Focus IF10017, Export-Import Bank of the United States (Ex-Im Bank), by Shayerah Ilias Akhtar.", "type": "CRS Report", "typeId": "REPORTS", "active": false, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R43671", "sha1": "89618a8333dac466fa94bbd7c8fa425f0d47c87e", "filename": "files/20160413_R43671_89618a8333dac466fa94bbd7c8fa425f0d47c87e.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R43671", "sha1": "262a553351940bde94dabcba4d3a76eece86fc65", "filename": "files/20160413_R43671_262a553351940bde94dabcba4d3a76eece86fc65.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4763, "name": "Export Policy" } ] }, { "source": "EveryCRSReport.com", "id": 447496, "date": "2015-11-18", "retrieved": "2016-04-06T17:54:30.244853", "title": "Export-Import Bank Reauthorization: Frequently Asked Questions", "summary": "The Export-Import Bank of the United States (Ex-Im Bank or the Bank), a wholly owned federal government corporation, is the official export credit agency (ECA) of the U.S. government. Its mission is to assist in financing and facilitating U.S. exports of goods and services to support U.S. employment. Ex-Im Bank operates under a renewable general statutory charter (Export-Import Bank Act of 1945, as amended), previously extended for nine months through June 30, 2015 (FY2015 continuing resolution, Section 147 of P.L. 113-164). Congress did not renew the charter before it expired on July 1, 2015. As a result, some but not all of the Bank\u2019s statutory authorities have expired. Ex-Im Bank retains statutory authority (12 U.S.C. Section 635f) to \u201ccontinu[e] as a corporate agency of the United States\u201d and exercise any of its functions \u201cfor purposes of orderly liquidation.\u201d The charter offers little guidance on what an \u201corderly liquidation\u201d entails. In general, Ex-Im Bank states that, under an authorization lapse, no new loan, guarantee, or insurance commitments can be approved by its Board or under delegated authority, but the Bank may continue administering and servicing existing obligations.\nThe Ex-Im Bank reauthorization debate presents a number of scenarios for Congress. If Congress chooses to reauthorize Ex-Im Bank, considerations may include for how long to renew its authority and under what terms, including any changes to its charter. If Congress allows it to expire permanently, it need not take any action or could pass legislation, for instance, specifying parameters for the orderly liquidation. Consideration of these issues raises a number of questions that are frequently asked, including:\nWhat is the Export-Import Bank and the debate over its reauthorization? \nWhat is its leadership structure?\nWhat are its programs, policies, and activities?\nWhat is its international context? \nHow does its budget work?\nHow does it manage risk?\nWhat are the implications of a sunset in authority for the Bank\u2019s activities?\nWhat are historical and current approaches to Ex-Im Bank reauthorization? \nCongress has actively debated Ex-Im Bank reauthorization in the 114th session of Congress, with multiple bills introduced, many of which have focused on reforms to the Bank. On July 30, 2015, the Senate passed H.R. 22 with an amendment containing a six-year surface transportation reauthorization. That amendment also includes a provision (agreed to by a vote of 64-29) to reauthorize the Bank through FY2019; decrease its exposure cap to $135 billion for each of FY2015-FY2019; and make reforms, including in terms of risk management, fraud controls, ethics, and international negotiations on export credit financing. On November 5, 2015, the House voted (363-64) to adopt its version of the highway bill as an amendment to the Senate\u2019s version of H.R. 22, including substantively the same Ex-Im Bank extension. In considering H.R. 22, the House rejected several amendments that generally were viewed as placing additional limitations on the Bank\u2019s activities. The House and Senate are expected to try to resolve differences with regard to H.R. 22 through conference proceedings. \nAdditional CRS resources on Ex-Im Bank include CRS Report R43581, Export-Import Bank: Overview and Reauthorization Issues, by Shayerah Ilias Akhtar, and CRS In Focus IF10017, Export-Import Bank (Ex-Im Bank) Reauthorization, by Shayerah Ilias Akhtar.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R43671", "sha1": "59c9a3307df5e05b4e9af46444d3e0484470df9f", "filename": "files/20151118_R43671_59c9a3307df5e05b4e9af46444d3e0484470df9f.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R43671", "sha1": "4973c7b032a72970c8fe9be3a26dbb925953cc35", "filename": "files/20151118_R43671_4973c7b032a72970c8fe9be3a26dbb925953cc35.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 2211, "name": "Export Policy" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc820763/", "id": "R43671_2014Dec22", "date": "2014-12-22", "retrieved": "2016-03-19T13:57:26", "title": "Export-Import Bank Reauthorization: Frequently Asked Questions", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20141222_R43671_6fe1f8160807df1dae25d2fcdc4ba66218aa6726.pdf" }, { "format": "HTML", "filename": "files/20141222_R43671_6fe1f8160807df1dae25d2fcdc4ba66218aa6726.html" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc491230/", "id": "R43671_2014Nov26", "date": "2014-11-26", "retrieved": "2015-01-27T19:40:46", "title": "Export-Import Bank Reauthorization: Frequently Asked Questions", "summary": "This report addresses frequently asked questions about Ex-Im Bank, grouped in the following categories: congressional interest and the Ex-Im Bank reauthorization debate; market context; international context; organizational structure and management; programs; statutory requirements and policies; risk management; budget and appropriations; implications of a sunset in authority; and historical and current approaches to reauthorization.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20141126_R43671_6269bd8c850d49677035daa2a8ad8e00950f913d.pdf" }, { "format": "HTML", "filename": "files/20141126_R43671_6269bd8c850d49677035daa2a8ad8e00950f913d.html" } ], "topics": [ { "source": "LIV", "id": "Congress", "name": "Congress" }, { "source": "LIV", "id": "Exports", "name": "Exports" }, { "source": "LIV", "id": "Finance", "name": "Finance" }, { "source": "LIV", "id": "Government corporations", "name": "Government corporations" }, { "source": "LIV", "id": "Trade", "name": "Trade" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc463458/", "id": "R43671_2014Aug01", "date": "2014-08-01", "retrieved": "2014-12-05T09:57:41", "title": "Export-Import Bank Reauthorization: Frequently Asked Questions", "summary": "This report addresses frequently asked questions about Ex-Im Bank, grouped in the following categories: congressional interest and the Ex-Im Bank reauthorization debate; market context; international context; organizational structure and management; programs; statutory requirements and policies; risk management; budget and appropriations; implications of a sunset in authority; and historical and current approaches to reauthorization.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20140801_R43671_73d2abb0572b0ef8ec0f225e5676d3b756911cda.pdf" }, { "format": "HTML", "filename": "files/20140801_R43671_73d2abb0572b0ef8ec0f225e5676d3b756911cda.html" } ], "topics": [ { "source": "LIV", "id": "Trade", "name": "Trade" }, { "source": "LIV", "id": "Government corporations", "name": "Government corporations" }, { "source": "LIV", "id": "Exports", "name": "Exports" }, { "source": "LIV", "id": "Finance", "name": "Finance" }, { "source": "LIV", "id": "Congress", "name": "Congress" } ] } ], "topics": [ "Economic Policy", "Foreign Affairs", "Industry and Trade", "Intelligence and National Security", "National Defense" ] }