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Contents

Export-Import Bank Act Amendments of 1986

Act Details

Export-Import Bank Act Amendments of 1986 was, as a bill, a proposal (now, a piece of legislation) introduced on 1986-09-18 in the House of Commons and Senate respectively of the 99 United States Congress by Stephen Lybrook Neal in relation with: Agricultural surpluses, Agriculture and Rural Affairs, Agriculture and food, Agriculture in foreign trade, American investments, Angola, Authorization, Business and commerce, Communist countries, Congress and Members of Congress, Congressional oversight, Development credit institutions, Economics and public finance, Export credit, Export-Import Bank of the United States, Exports, Federal advisory bodies, Fees, Finance and financial sector, Foreign Trade and Investments, Foreign trade and international finance, Government and business, Government operations and politics, Government trust funds, Insurance, Interest, International affairs, International agencies, International banking, Investment guaranty insurance, Military intervention, Mineral industries, Mines and mineral resources, Natural gas, Negotiations, Petroleum industry, Subsidies, Trade adjustment assistance, Trade agreements, Treaties, Unemployment.

Export-Import Bank Act Amendments of 1986 became law (1) in the United States on 1986-10-15. It was referred to the following Committee(s): (2)

House Banking Finance and Urban Affairs (HSBA)
sub Subcommittee on International Finance Trade and Monetary Policy (sub 08)

Sponsor

Stephen Lybrook Neal, member of the US congress
Stephen Lybrook Neal, Democrat, Representative from North Carolina, district 5

The proposal had the following cosponsors:

Rodney Dennis Chandler, Republican, Representative, from Washington, district 8
James Albert Smith Leach, Republican, Representative, from Iowa, district 1
Sander Martin Levin, Democrat, Representative, from Michigan, district 17
Thomas J. Manton, Democrat, Representative, from New York, district 9
Clarence William (bill) Nelson, Democrat, Senator, from Florida, district 9
Germain St, Representative, from Rhode Island, district 1
Chalmers Pangburn Wylie, Republican, Representative, from Ohio, district 15

Act Overview

Number: 5548 (3)
Official Title as Introduced: A bill to amend the Export-Import Bank Act of 1945 (4)
Short Title: Export-Import Bank Act Amendments of 1986
Date First Introduced: 1986-09-18
Sponsor Name: Chalmers Pangburn Wylie
Assignment Process: See Committe Assignments (5)
Latest Major Activity/Action: Enacted
Date Enacted (signed, in general (6), by President): 1986-10-15
Type: hr (7)
Main Topic: Foreign trade and international finance
Related Bills: (8)
Summary of Export-Import Bank Act Amendments of 1986: Govtrack. Authored by the Congressional Research Service (CRS) of the Library of Congress.
Primary Source: Congress Website

Text of the Export-Import Bank Act Amendments of 1986

(Conference report filed in House H. Rept. 99-956) Export-Import Bank Act Amendments of 1986 – Amends the Export-Import Bank Act of 1945 to authorize the Export-Import Bank (the Bank) to collect fees to cover the marginal costs of the Bank's conferences and publications. Prohibits the Bank from imposing a credit application fee unless specified conditions relating to the competitiveness of the fee and the availability of repayment options are met. Requires the Bank to establish the following measures to enhance the Bank's medium-term financing program; (1) improve the competitiveness of the Bank's medium-term financing; (2) ease the administrative procedural and documentary requirements imposed on users of medium-term financing; (3) attract the widest possible participation of private capital in the medium-term financing of U.S. exports; and (4) render the Bank's medium-term financing as supportive of U.S. exports as is its direct loan program. Requires the Bank to report to the Congress by April 15 1988 on such measures. Declares that the Bank's terms and conditions need not be identical in all respects to those offered by foreign countries. Requires the Bank to provide medium-term risk protection coverage through multiple exporter organizations for the members and clients of such organizations. Prohibits the denial of access to Bank financing guarantee and insurance programs solely because the entity seeking access is not a bank or is not a U.S. person. Prohibits assistance under the Export-Import Bank Act of 1945 to Marxist-Leninist countries defined as countries which: (1) maintain a centrally-planned economy based on the principles of Marxism-Leninism; or (2) are dependent on the Soviet Union or any other Marxist-Leninist country. Sets forth a list of such countries. Provides for the waiver of such prohibition if the President determines that a country on such list has ceased to be a Marxist-Leninist country. Prohibits the Bank from guaranteeing insuring or extending credit in connection with exports (except food or agricultural exports) to Angola until the President certifies to the Congress that no combatants or military advisors from Cuba or any other Marxist-Leninist country remain in Angola. Requires the bank to authorize the transferability of medium- and long-term obligations insured or guaranteed by the Bank without affecting limiting or terminating the guarantee or insurance provided by the Bank. Prohibits the Bank from extending credit or guarantees for establishing or expanding production of any commodity for export by any country other than the United States if: (1) there is likely to be a world surplus of such commodity by the time the resulting production capacity becomes operative or the resulting production capacity is expected to compete with U.S. production of the same similar or competing commodity; and (2) the assistance will cause substantial injury to U.S. producers of a competing commodity. Declares that such prohibition shall not apply if the short- and long-term benefits to U.S. industry and employment are likely to outweigh the injury to U.S. competitors. Requires the Bank in all cases involving potential adverse impact on domestic industries or employment to consider and address in writing the view of parties who may be substantially adversely affected by the loan or guarantee before taking final action on such loan or guarantee. Authorizes appropriations for FY 1987 to cover the net subsidy cost of new direct loans under the program limitations of FY 1987. Extends the authority of such Act through FY 1992. Amends the Export-Import Bank Act Amendments Act of 1978 to require the Secretary of the Treasury to authorize the Bank to provide guarantees insurance and credits to competing U.S. sellers unless: (1) the availability of foreign official noncompetitive financing is not likely to be a significant factor in the sale or (2) the foreign competitive financing has been withdrawn. Requires the Bank and the Office of Management and Budget to report to the Congress and the General Accounting Office on: (1) the need for U.S. Government involvement in export credit insurance; (2) the need to employ an agent in administering government-supported insurance programs; and (3) the efficiency and effectiveness of continuing to use the Foreign Credit Insurance Association as the Bank's agent. Amends the Export-Import Bank Act of 1945 to authorize any Bank director whose term has expired to serve an additional six months or until a successor has been qualified whichever occurs earlier. Requires the Bank to establish a tied aid credit program under which grants shall be made from the Tied Aid Credit Fund to supplement: (1) the financing of a U.S. export when there is a reasonable expectation that predacious financing will be provided by another country for a competitor of the U.S. exporter; (2) the financing of U.S. exports to foreign markets which are actual or potential export markets for any country which engages in predacious official export financing and impedes negotiations to eliminate the use of such credits for commercial purposes; or (3) the financing of U.S. exports under other appropriate circumstances. Requires the Bank to administer such program in consultation with: (1) the Secretary of the Treasury; (2) appropriate private financial entities; and (3) the National Advisory Council on International Monetary and Financial Policies. Authorizes the Bank to combine grants from the Tied Aid Credit Fund with other forms of export financing including financing from the Bank or private financial entities. Authorizes the U.S. Trade Representative and the Secretary of Commerce to provide information to the appropriate officials on principal sectors and key markets of countries that engage in predacious export financing and impede negotiations to limit official export financing. Establishes within the Bank the Tied Aid Credit Fund to be used in such tied aid credit program. Requires that any export financing involving the use of a grant under the tied aid credit program shall be consistent with the procedures established by the Arrangement on Guidelines for Officially Supported Export Credits. Authorizes appropriations for the Tied Aid Credit Fund for 1987 and 1988. Provides for recission of funds appropriated to the Tied Aid Credit Fund if the appropriations are not needed to achieve the purpose of the Fund. Requires the Bank to report to the President and to the Congress every six months on tied aid credits. Sets forth information to be included in the report. Authorizes the Bank to make interest subsidy payments to commercial lenders who make loans in support of U.S. exports when financing at less than market rates is required for such exports in order to respond to subsidized financing offered by foreign export credit agencies. Provides that the authority of the Bank to make such interest subsidy payments is effective only if the direct loan authority of the Bank meets a specified minimum amount. Limits the amount of such payments by the Bank to the amount appropriated to the Bank for such purposes. Authorizes appropriations for such purposes for FY 1986. Terminates the authority to make such interest subsidy payments on October 1 1988. Requires the Comptroller General to report to the Congress by March 1 1988 on the Bank's use of its authority to make interest subsidy payments. Sets forth information to be included in such report. Expresses the sense of the Congress that U.S. interests are best served when U.S. business transactions in Angola do not support Cuban troops and Soviet advisers. Requests the President to use special authorities under the International Emergency Economic Powers Act to restrict U.S. business transactions that conflict with U.S. security interests in Angola. Directs the Secretary of the Treasury to instruct the U.S. Executive Directors of specified international development banks to oppose any assistance by such institutions for the production or extraction of any commodity or mineral for export if: (1) there is a world surplus of such commodity or mineral; and (2) the export of such commodity or mineral would cause substantial injury to competing U.S. producers.

Act Notes

[Note 1] An Act (like Export-Import Bank Act Amendments of 1986) or a resolution cannot become a law in the United States until it has been approved (passed) in identical form by both the House of Representatives and the Senate, as well as signed by the President (but see (5)). If the two bodys of the Congress versions of an Act are not identical, one of the bodies might decide to take a further vote to adopt the bill (see more about the Congress process here). An Act may be pass in identical form with or without amendments and with or without conference. (see more about Enrollment).
[Note 2] Proposals are referred to committees for preliminary consideration, then debated, amended, and passed (or rejected) by the full House or Senate. To prevent endless shuttling of bills between the House and Senate, bills like Export-Import Bank Act Amendments of 1986 are referred to joint committees made up of members of both houses.
[Note 3] For more information regarding this legislative proposal, go to THOMAS, select “Bill Number,” search on (Export-Import Bank Act Amendments of 1986)
[Note 4] A bill to amend the Export-Import Bank Act of 1945. The current official title of a bill is always present, assigned at introduction (for example, in this case, on 1986-09-18) and can be revised any time. This type of titles are sentences.
[Note 5] The Act is referred to the appropriate committee by the Speaker of any of the two Houses. Bills are placed on the calendar of the committee to which they have been assigned. See Assignment Process.
[Note 6] Regarding exceptions to President´s approval, a bill that is not signed (returned unsigned) by the President can still become law if at lest two thirds of each of the two bodys of the Congress votes to pass it, which is an infrequent case. See also Presidential Veto.
[Note 7] Legislative Proposal types can be: hr, hres, hjres, hconres, s, sres, sjres, sconres. A bill originating in the Senate is designated by the letter “S”, and a bill originating from the House of Representatives begins with “H.R.”, followed, in both cases, by its individual number which it retains throughout all its parliamentary process.
[Note 8] For information regarding related bill/s to Export-Import Bank Act Amendments of 1986, go to THOMAS.

Analysis

No analysis (criticism, advocacy, etc.) about Export-Import Bank Act Amendments of 1986 submitted yet.

Agricultural surpluses
Agriculture and Rural Affairs
Agriculture and food
Agriculture in foreign trade
American investments
Angola
Authorization
Business and commerce
Communist countries
Congress and Members of Congress
Congressional oversight
Development credit institutions
Economics and public finance
Export credit
Export-Import Bank of the United States
Exports
Federal advisory bodies
Fees
Finance and financial sector
Foreign Trade and Investments
Foreign trade and international finance
Government and business
Government operations and politics
Government trust funds
Insurance
Interest
International affairs
International agencies
International banking
Investment guaranty insurance
Military intervention
Mineral industries
Mines and mineral resources
Natural gas
Negotiations
Petroleum industry
Subsidies
Trade adjustment assistance
Trade agreements
Treaties
Unemployment

Export-Import Bank Act Amendments of 1986

Export-Import Bank Act Amendments of 1986