S 2183 · 114th Congress · Foreign Trade and International Finance
Export-Import Bank Reform and Reauthorization Act of 2015
Bill Progress
1
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 275.(2015-10-20)
Plain Language Summary
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Export-Import Bank Reform and Reauthorization Act of 2015 This bill amends the Export-Import Bank Act of 1945 to reduce, for each of FY2015-FY2019, the authorized aggregate amount of loans, guarantees, and insurance the Export-Import Bank may have outstanding at any time. The Bank shall build to and hold in reserve, to protect against future losses, at least 5% of its aggregate amount of disbursed and outstanding loans, guarantees, and insurance. The Export-Import Bank Reauthorization Act of 2012 (EIBRA) is amended to require the Government Accountability Office's quadrennial review of the adequacy of the design and effectiveness of the Bank's fraud controls to include review of the Bank's compliance with these controls. An Office of Ethics is established within the Bank to recommend administrative actions to establish or enforce standards of official conduct. A Chief Risk Officer of the Bank is established to oversee all issues relating to risk within the Bank. A Risk Management Committee is also established to: oversee periodic stress testing on the entire Bank portfolio and the monitoring of industry, geographic, and obligor exposure levels; and review all required reports on th…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (7)
4 Democrats3 Republicans