S 3077 · 95th Congress · Foreign Trade and International Finance
Export Import Bank Act Amendments
Bill Progress
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Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Measure considered in Senate.(1978-10-02)
Plain Language Summary
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Export-Import Bank Act Amendments - Amends the Export-Import Bank Act of 1945 to increase from $60,000,000 to $100,000,000 the threshold for Bank loans and financial guarantees requiring prenotification to the Congress. Increases from $20,000,000,000 to $25,000,000,000 the amount of the Bank's contractual liability for guarantees and insurance which may be charged at 25 percent of face value against the aggregate limitation on the Bank's commitments. Repeals the requirement for human rights determinations for specific countries and loans. Repeals the requirements that the President specifically determine the eligibility of any communist country: (1) to receive exports supported by the Bank, and (2) with respect to each transaction in which the Bank would extend a loan of $50,000,000 or more. Repeals provisions allowing the President to veto Bank transactions determined to be contrary to the national interest. Prohibits the Bank from providing support for exports to any foreign country, including its agencies or nationals, unless it is on the effective list of eligible countries. Requires the President to make a national interest determination with respect to each country to be incl…
Summarized by Claude AI · Non-partisan · For informational purposes only