Page:United States Statutes at Large Volume 100 Part 2.djvu/98

 100 STAT. 1200

PUBLIC LAW 99-472—OCT. 15, 1986

Public Law 99-472 99th Congress An Act Oct. 15, 1986 [H.R. 5548]

Export-Import

Bank Act Amendments of 1986

12 USC 635 note

To amend the Export-Import Bank Act of 1945.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled. SECTION 1. SHORT TITLE.

This Act may be cited as the "Export-Import Bank Act Amendments of 1986". SEC. 2. FEES.

12 USC 635.

Section 2(a)(l) of the Export-Import Bank Act of 1945 is amended by inserting after the fifth sentence thereof the following: "The Bank may impose and collect reasonable fees to cover the costs of conferences and seminars sponsored by, and publications provided by, the Bank. Amounts received under the preceding sentence shall be credited to the fund which initially paid for such activities.". SEC. 3. CREDIT APPLICATION FEES.

Post, p. 1201.

Section 2(b)(l)(B) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(l)(B)) is amended by inserting after the third sentence the following: "The Bank may not impose a credit application fee unless (i) the fee is competitive with the average fee charged by the Bank's primary foreign competitors, and (ii) the borrower or the exporter is given the option of paying the fee at the outset of the loan or over the life of the loan and the present value of the fee determined under either such option is the same amount.". SEC. 4. ENHANCEMENT OF MEDIUM-TERM PROGRAM.

Section 2(a) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(a)) is amended by adding at the end thereof the following new paragraph: "(3) ENHANCEMENT OF MEDIUM-TERM PROGRAM.—

"(A) IN GENERAL.—To enhance the medium-term financing program established pursuant to paragraph (2), the Bank shall establish measures to— "(i) improve the competitiveness of the Bank's mediumterm financing and ensure that its medium-term financing is fully competitive with that of other major official export credit agencies; "(ii) ease the administrative burdens and procedural and documentary requirements imposed on the users of medium-term financing; "(iii) attract the widest possible participation of private financial institutions and other sources of private capital in the medium-term financing of United States exports; and "(iv) render the Bank's medium-term financing as supportive of United States exports as is its Direct Loan Program.

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