Export-Import Bank Amendments of 1983
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 to direct the Bank to provide guarantees, insurance, and extensions of credit at rates and terms which are fully competitive with 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 support U.S. exports at rates and on terms and conditions which are fully competitive with exports of other countries.
States that the Advisory Committee, established under such Act, shall; (1) consist of 12 members (currently nine); and (2) 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.
Requires the Bank to determine, by March 31 of each year, whether the authority available to the Bank for its current fiscal year will be sufficient to meet the Banks's needs. Requires the Bank to report its findings to Congress by April 15 of each year.
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 30 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 from giving final approval for 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.
Makes facilitating exports, imports, and the exchange of services a purpose of the Export-Import Bank. Declares that it is U.S. policy to foster the delivery of U.S. services in international commerce. Requires the Bank to include in its annual report a summary of its programs regarding services.
Declares that it is U.S. policy to encourage the participation of small business in international commerce. Directs the Bank to develop a program which gives fair consideration to making loans and providing guarantees for the export of goods and services by small businesses. Directs the Chairman of the Bank's Board of Directors to assure that the needs of small businesses are adequately met by the Bank.
Authorizes interested persons to request the Secretary of Commerce to review the terms and conditions of foreign official export credits provided by any foreign government or agency to support exports of products or services to the United States. Requires the Secretary to review the petition and determine within 30 days whether the export credits are inconsistent with the terms and conditions of the Arrangement on Guidelines for Officially Supported Export Credits of the Organization for Economic Cooperation and Development (OECD).
Requires the Secretary to publish the findings in the Federal Register and prohibit the entry into the United States of the product or service benefitting from such export credits: (1) are at rates below those available to the foreign government or involve the assumption by the government or agency concerned of all or parts of the costs incurred by exporters or financial institutions in obtaining credits; (2) are inconsistent with the terms and conditions of the OECD Arrangement; and (3) are used to secure a material advantage in sales of the products concerned. Authorizes the Secretary to revoke the prohibition against the entry into the United States of such product or service if the Contracting Parties to the General Agreement on Tariffs and Trade disapprove such action.
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 be 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 for 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 development objectives of the importing country and which will be consistent with the criteria used to establish country allocations of Economic Support Funds. Authorizes the Administrator of AID to draw on Economic Support Funds allocated for Commodity Import Programs to finance a mixed finance activity.
Requires the President to appoint an individual to coordinate and ensure the implementation of both mixed financing programs.
Authorizes appropriations for this title for FY 1984 and 1985.
Title III: Amendments to the Export Trading Company Act of 1982 - Amends the Export Trading Company Act of 1982 to add specified types of accounts receivable to the list of items which the Export-Import Bank will accept as collateral for loans to export trading companies.
Similar Provisions Contained in H.R.3959.