Page:United States Statutes at Large Volume 97.djvu/1287

 PUBLIC LAW 98-181—NOV. 30, 1983 97 STAT. 1255 COMPETITIVE MANDATE SEC. 612. (a) The second sentence of section 2(b)(l)(A) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(l)(A)) is amended— (1) by inserting "in all its programs" after "objective"; and (2) by inserting "fully" after "which are". (b) The first sentence of section 2(b)(l)(B) of such Act (12 U.S.C. 635(b)(l)(B)) is amended by striking out "It is" and all that follows through "exports of other countries;" and inserting in lieu thereof the following: "It is further the policy of the United States that loans made by the Bank in all its programs shall bear interest at rates determined by the Board of Directors, consistent with the Bank's mandate to support United States exports at rates and on terms and conditions which are fully competitive with exports of other countries, and consistent with international agreements. For the purpose of the preceding sentence, rates and terms and condi- tions need not be equivalent to those offered by foreign countries, but should be established so that the effect of such rates, terms, and conditions for all the Bank's programs, including those for small businesses and for medium-term financing, will be to neutralize the effect of such foreign credit on international sales competition. The Bank shall consider its average cost of money as one factor in its determination of interest rates, where such consideration does not impair the Beuik's primary function of expanding United States exports through fully competitive financing. It is also the policy of the United States". (c) The first sentence of section 2(b)(l)(B) of such Act (12 U.S.C. 635(b)(l)(B)), as in effect on the day before the date of the enactment of this title, is amended by inserting "export trading companies," sifter "independent export firms,". ADVISORY COMMITTEE SEC. 613. Section 3(d) of the Export-Import Bank Act of 1945 (12 U.S.C. 635a(d)) is amended to read as follows: "(d)(l)(A) There is established an Advisory Committee to consist of twelve members who shall be appointed by the Board of Directors on the recommendation of the President of the Bank. "(B) Such members shall be broadly representative of production, commerce, finance, agriculture, labor, services, and State government. "(2) Not less than three members appointed to the Advisory Committee shall be representative of the small business community. "(3) The Advisory Committee shall meet at least once each quarter. "(4) The Advisory Committee shall advise the Bank on its pro- grams, and shall submit, with the report specified in section 2(b)(l)(A) of this Act, its own comments to the Congress on the extent to which the Bank is meeting its mandate to provide competi- tive financing to expand United States exports, and any suggestions for improvements in this regard.". Comments, submittal to (Cong ress. 12 USC 635. TERMS OF DIRECTORS SEC. 614. (a) Section 3(c) of the Export-Import Bank Act of 1945 (12 U.S.C. 635a(c)) is amended—

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