Page:United States Statutes at Large Volume 116 Part 1.djvu/729

 PUBLIC LAW 107-189—JUNE 14, 2002 116 STAT. 703 (2) REPORT TO THE CONGRESS. —Within 1 year after the date of the enactment of this Act, the Secretary of the Treasury 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 a report on the successes, failures, and obstacles in initiating negotiations, and if negotiations were initiated, in reaching the agreement described in paragraph (1). (b) MARKET WINDOWS.— (1) IN GENERAL.— The Export-Import Bank Act of 1945 (12 U.S.C. 635 et seq.) is amended by adding at the end the following new section: " SEC. 15. MARKET WINDOWS. "(a) ENHANCED TRANSPARENCY. — To ensure that the Bank financing remains fully competitive, the United States should seek enhanced transparency over the activities of market windows in the OECD Export Credit Arrangement. If such transparency indicates that market windows are disadvantaging United States exporters, the United States should seek negotiations for multilateral disciplines and transparency within the OECD Export Credit Arrangement. "(b) AUTHORIZATION. — The Bank may provide financing on terms and conditions that are inconsistent with those permitted under the OECD Export Credit Arrangement— "(1) to match financing terms and conditions that are being offered by market windows on terms that are inconsistent with those permitted under the OECD Export Credit Arrangement, if— "(A) matching such terms and conditions advances the negotiations for multilateral disciplines and transparency within the OECD Export Credit Arrangement; or "(B) transparency verifies that the market window financing is being offered on terms that are more favorable than the terms and conditions that are available from private financial markets; and "(2) when the foreign government-supported institution refuses to provide sufiicient transparency to permit the Bank to make a determination under paragraph (1). "(c) DEFINITION.— In this section, the term 'OECD' means the Organization for Economic Cooperation and Development.". (2) REPORT.— Within 2 years after the date of the enactment of this Act, the Secretary of the Treasury 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 a report on the rationale for seeking or not seeking negotiations for multilateral disciplines and transparency, the successes, failures, and obstacles in initiating negotiations, and if negotiations were initiated, in reaching an agreement. (c) USE OF TIED AID CREDIT FUND TO COMBAT UNTIED AID. — Section 10(a) of the Export-Import Bank Act of 1945 (12 U.S.C. 635i-3(a)) is amended— (1) in paragraph (4), by striking "and" at the end; (2) in paragraph (5), by inserting ", or untied aid used to promote exports as if it were tied aid," before "for commercial" the first and third places it appears; and Deadline. 12 USC 635i-9. Deadline. 12 USC 635i-9 note.

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