12 U.S.C. § 635g
The Export-Import Bank of the United States shall transmit to the Congress annually a complete and detailed report of its operations. Such report shall be as of the close of business on the last day of each fiscal year.
The Bank shall include in its annual report to the Congress under subsection (a) of this section for each of fiscal years 2002 through 2006 a report on the efforts made by the Bank to carry out subparagraphs (E)(x) and (J) of section 635(b)(1) of this title, and on how the efforts are assisting small business concerns (as defined in section 632(a) of title 15).
The Bank shall estimate on the basis of an annual survey or tabulation the number of entities that are suppliers of users of the Bank and that are small business concerns (as defined in section 632(a) of title 15) located in the United States, and shall include the estimate in its annual report to the Congress under subsection (a) of this section.
The Bank shall include in its annual report to the Congress under subsection (a) of this section a description of outreach efforts made by the Bank to any socially and economically disadvantaged small business concerns (as defined in section 637(a)(4) of title 15), small business concerns (as defined in section 632(a) of title 15) owned by women, and small business concerns (as defined in section 632(a) of title 15) employing fewer than 100 employees.
Not later than March 31 of each year, the Bank shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate reports on-
Not less frequently than quarterly, the Bank shall calculate the rate at which the entities to which the Bank has provided short-, medium-, or long-term financing are in default on a payment obligation under the financing, by dividing the total amount of the required payments that are overdue by the total amount of the financing involved.
In addition, the Bank shall, not less frequently than quarterly-
Within 45 days after a rate calculated under paragraph (1) equals or exceeds 2 percent, the Bank shall submit to the Congress a written report that explains the circumstances that have caused the default rate to be at least 2 percent, and includes a plan to reduce the default rate to less than 2 percent.
The plan referred to in paragraph (3) shall-
For so long as the default rate calculated under paragraph (1) is at least 2 percent, the Bank shall submit monthly reports to the Congress describing the specific actions taken during such period to reduce the default rate.
If the default rate calculated under paragraph (1) remains above 2 percent for a period of 6 months, the Secretary of the Treasury shall provide for an independent third party to-
In the annual report of the Bank under subsection (a), the Bank shall categorize each loan and long-term guarantee made by the Bank in the fiscal year covered by the report, and according to the following purposes:
The Bank shall include in its annual report to the Congress under subsection (a) of this section a report on the determinations made by the Advisory Committee under section 635a(d)(5) of this title in the year covered by the report.
The Bank shall include in its annual report to the Congress under subsection (a) of this section a description of the success of the Bank in providing effective and reasonably priced financing to the United States textile and apparel industry for exports of goods manufactured in the United States that are used as components in global textile and apparel supply chains in the year covered by the report, and steps the Bank has taken to increase the use of Bank products by such firms.
The Bank shall include in its annual report to Congress under subsection (a) a report on the programs of the Bank for United States businesses with less than $250,000,000 in annual sales.
The Bank shall include in its annual report to Congress under subsection (a) a narrative and financial summary of the authorizations made under the Program on China and Transformational Exports.
12 U.S.C. § 635g
EDITORIAL NOTES
PRIOR PROVISIONSA prior section 8 of act July 31, 1945, ch. 341, was renumbered section 7 and is classified to section 635f of this title.
AMENDMENTS2019-Subsec. (l). Pub. L. 116-94 added subsec. (l). 2015-Subsec. (k). Pub. L. 114-94 added subsec. (k).2012-Subsec. (g). Pub. L. 112-122, §6, added subsec. (g).Subsec. (h). Pub. L. 112-122, §10, added subsec. (h).Subsec. (i). Pub. L. 112-122, §20(b)(2), added subsec. (i).Subsec. (j). Pub. L. 112-122, §21(c), added subsec. (j).2006-Subsec. (f). Pub. L. 109-438 added subsec. (f).2002-Subsecs. (c) to (e). Pub. L. 107-189 added subsecs. (c) to (e). 2000-Subsec. (b). Pub. L. 106-569 redesignated subsec. (c) as (b) and struck out former subsec. (b) which read as follows: "The report shall contain a description of actions taken by the Bank in pursuance of the policy of aiding, counseling, assisting, and protecting, insofar as is possible, the interests of small business concerns and of the activities of the member of the Board appointed to represent the interest of small business. In addition, the Bank shall include in the report a description of specific activities and programs undertaken by it to achieve the policy of section 3261 of title 22, and section 2151q of title 22, as required by section 635(b)(1)(C) of this title."Subsec. (c). Pub. L. 106-569 redesignated subsec. (c) as (b) and directed redesignation of subsec. (e) as (c). Subsec. (d). Pub. L. 106-569 struck out subsec. (d) which required report to include actions taken by Bank to aid industries, preserve and create highly skilled jobs, and enhance opportunity for business growth and expansion and comments of Advisory Committee.Subsec. (e). Pub. L. 106-569 which directed redesignation of subsec. (e) as (c), could not be executed. See 1986 Amendment note and Termination Date of 1986 Amendment note below.1986-Subsec. (e). Pub. L. 99-472 temporarily added subsec. (e). See Termination Date of 1986 Amendment note below.1983-Subsec. (b). Pub. L. 98-181, §618(b)(1), inserted "and of the activities of the member of the Board appointed to represent the interests of small business". Subsec. (c). Pub. L. 98-181, §618(b)(2), added subsec. (c). Subsec. (d). Pub. L. 98-181, §623, added subsec. (d). 1978-Subsec. (b). Pub. L. 95-630 inserted provision that in addition, the Bank include in the report a description of specific activities and programs undertaken by it to achieve the policy of section 3261 of title 22, and section 2151q of title 22, as required by section 635(b)(1)(C) of this title.1975- Pub. L. 93-646 designated existing provisions as subsec. (a), substituted provisions calling for an annual report as of the close of business on the last day of each fiscal year, for provisions calling for a semiannual report as of the close of business on June 30 and Dec. 31 of each year, and added subsec. (b). 1968- Pub. L. 90-267 changed name of "Export-Import Bank of Washington" to "Export-Import Bank of the United States".
STATUTORY NOTES AND RELATED SUBSIDIARIES
CHANGE OF NAMECommittee on Small Business of Senate changed to Committee on Small Business and Entrepreneurship of Senate. See Senate Resolution No. 123, One Hundred Seventh Congress, June 29, 2001.
EFFECTIVE DATE OF 2015 AMENDMENT Pub. L. 114-94, div. E, title LII, §52002(b), Dec. 4, 2015, 129 Stat. 1767, provided that: "The amendment made by subsection (a) [amending this section] shall apply with respect to the report of the Export-Import Bank of the United States submitted to Congress under section 8 of the Export-Import Bank Act of 1945 ( 12 U.S.C. 635g ) for the first year that begins after the date of the enactment of this Act [Dec. 4, 2015]."
TERMINATION DATE OF 1986 AMENDMENT Pub. L. 99-472, §20(c), Oct. 15, 1986, 100 Stat. 1210, provided that: "Effective March 2, 1988, the amendment made by subsection (b) [amending this section] is repealed."
EFFECTIVE DATE OF 1978 AMENDMENT Amendment by Pub. L. 95-630 effective Nov. 10, 1978, see section 1917 of Pub. L. 95-630 set out as a note under section 635 of this title.
REPORTS Pub. L. 107-189, §8(c), June 14, 2002, 116 Stat. 701, provided that: "The Export-Import Bank of the United States shall include in the annual report required by section 8(a) of the Export-Import Bank Act of 1945 [ 12 U.S.C. 635g(a) ] for each of fiscal years 2002 through 2006 a report on the efforts made by the Bank to carry out subparagraphs (E)(x) and (J) of section 2(b)(1) of such Act [ 12 U.S.C. 635(b)(1) ], and on how the efforts are assisting small businesses."
FINANCING FOR RENEWABLE ENERGY PROJECTS Pub. L. 101-167, title V, §534(d), Nov. 21, 1989, 103 Stat. 1231, provided that:"(1) Of the financing provided by the Export-Import Bank that is utilized for the support of exports for the energy sector, the Bank shall seek to provide not less than 5 per centum of such financing for renewable energy projects."(2) The Export-Import Bank shall take all appropriate steps to finance information exchanges and training whose purpose it is to help link United States producers in the renewable energy sector with assistance programs and potential foreign customers."(3) Beginning on April 15, 1990, the Chairman of the Export-Import Bank shall submit an annual report to the Committees on Appropriations on the Bank's implementation of this subsection."
MODIFICATION OF REPORTING REQUIREMENTS Pub. L. 89-348, §2(9), Nov. 8, 1965, 79 Stat. 1312, modified the reporting requirements of this section as follows: "From semiannual to annual submission to the Congress by the Export-Import Bank of Washington of a report concerning its operations under the Export-Import Bank Act of 1945 (59 Stat. 529; 12 U.S.C. 635g )." This section was later amended by Pub. L. 93-646 to require annual instead of semiannual reports.
- credit
- The term "credit" means the right granted by a person to a consumer to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment for such purchase.