12 U.S.C. § 635f | Termination date of Bank’s functions; exceptions; liquidation

December 31, 2026Export-Import Bank of the United States shall continue to exercise its functions in connection with and in furtherance of its objects and purposes until the close of business on , but the provisions of this section shall not be construed as preventing the bank from acquiring obligations prior to such date which mature subsequent to such date or from assuming prior to such date liability as guarantor, endorser, or acceptor of obligations which mature subsequent to such date or from issuing, either prior or subsequent to such date, for purchase by the Secretary of the Treasury or any other purchasers, its notes, debentures, bonds, or other obligations which mature subsequent to such date or from continuing as a corporate agency of the United States and exercising any of its functions subsequent to such date for purposes of orderly liquidation, including the administration of its assets and the collection of any obligations held by the bank.

July 31, 1945, ch. 341, § 7 59 Stat. 529 June 9, 1947, ch. 101, § 3 61 Stat. 131 Oct. 3, 1951, ch. 445, § 1(c)65 Stat. 367 Pub. L. 85–55June 17, 195771 Stat. 82 Pub. L. 88–101, § 2Aug. 20, 196377 Stat. 128 Pub. L. 90–267, § 1(a)Mar. 13, 196882 Stat. 47 Pub. L. 92–126, § 1(b)(4)Aug. 17, 197185 Stat. 345 Pub. L. 93–331July 4, 197488 Stat. 289 Pub. L. 93–374Aug. 14, 197488 Stat. 445 Pub. L. 93–425Sept. 30, 197488 Stat. 1166 Pub. L. 93–450Oct. 18, 197488 Stat. 1368 Pub. L. 93–646, § 9Jan. 4, 197588 Stat. 2336 Pub. L. 95–143, § 4Oct. 26, 197791 Stat. 1211 Pub. L. 95–407Sept. 30, 197892 Stat. 882 Pub. L. 95–630, title XIX, § 1906Nov. 10, 197892 Stat. 3725 Pub. L. 98–109, § 6Oct. 1, 198397 Stat. 746 Pub. L. 98–143Nov. 1, 198397 Stat. 916 Pub. L. 98–181, title INov. 30, 198397 Stat. 1254 Pub. L. 99–472, § 14Oct. 15, 1986100 Stat. 1204 Pub. L. 102–429, title IOct. 21, 1992106 Stat. 2187 Pub. L. 105–46, § 122Sept. 30, 1997111 Stat. 1158 Pub. L. 105–121, § 2(a)Nov. 26, 1997111 Stat. 2528 Pub. L. 107–189, § 3June 14, 2002116 Stat. 699 Pub. L. 109–438, § 2Dec. 20, 2006120 Stat. 3268 Pub. L. 112–122, § 2May 30, 2012126 Stat. 350 Pub. L. 114–94, div. E, title LIV, § 54001(a)Dec. 4, 2015129 Stat. 1768 Pub. L. 116–94, div. I, title IV, § 401(a)Dec. 20, 2019133 Stat. 3021(, formerly § 8, ; , ; , ; , , ; , , ; , (f), , , 49; , , ; , , ; , , ; , , ; , , ; , , ; , , ; , , ; , , ; , , ; , , ; [title VI, § 611], , ; , , ; renumbered § 7 and amended , §§ 102, 121(c)(2), , , 2199; , , ; , , ; , , ; , , ; , , ; , , ; , , .)

Editorial Notes

Prior Provisions

act July 31, 1945, ch. 341 section 635e of this titleA prior section 7 of , was renumbered section 6 and is classified to .

Amendments

Pub. L. 116–94December 31, 2026September 30, 20192019— substituted “” for “”.

Pub. L. 114–942015— substituted “2019” for “2014”.

Pub. L. 112–1222012— substituted “2014” for “2011”.

Pub. L. 109–4382006— substituted “2011” for “2006”.

Pub. L. 107–189September 30, 2006September 30, 20012002— substituted “” for “”.

Pub. L. 105–121September 30, 2001October 23, 19971997— substituted “” for “September 30, ”.

Pub. L. 105–46October 23, 1997 substituted “” for “1997”.

Pub. L. 102–429, § 1021992—, substituted “1997” for “1992”.

Pub. L. 99–472September 30, 1992September 30, 19861986— substituted “” for “”.

Pub. L. 98–181September 30, 1986November 18, 19831983— substituted “” for “”.

Pub. L. 98–143November 18, 1983October 31, 1983 substituted “” for “”.

Pub. L. 98–109October 31, 1983September 30, 1983 substituted “” for “”.

Pub. L. 95–630September 30, 1983December 31, 19781978— substituted “” for “”.

Pub. L. 95–407December 31, 1978September 30, 1978 substituted “” for “”.

Pub. L. 95–143September 30, 1978June 30, 19781977— substituted “” for “”.

Pub. L. 93–646June 30, 1978November 30, 19741975— substituted “” for “”.

Pub. L. 93–450November 30, 1974October 15, 19741974— substituted “” for “”.

Pub. L. 93–425October 15, 1974September 30, 1974 substituted “” for “”.

Pub. L. 93–374September 30, 1974July 30, 1974 substituted “” for “”.

Pub. L. 93–331July 30, 1974June 30, 1974 substituted “” for “”.

Pub. L. 92–126June 30, 1974June 30, 19731971— substituted “” for “” and “Secretary of the Treasury or any other purchasers” for “Secretary of the Treasury”.

Pub. L. 90–267June 30, 1973June 30, 19681968— changed name of “Export-Import Bank of Washington” to “Export-Import Bank of the United States” and substituted “” for “”.

Pub. L. 88–101June 30, 1968June 30, 19631963— substituted “” for “”.

Pub. L. 85–55June 30, 1963June 30, 19581957— substituted “” for “”.

Oct. 3, 1951June 30, 1958June 30, 19531951—Act , substituted “” for “”.

June 9, 1947June 30, 19531947—Act , struck out former section and inserted present section to provide for the termination of the Bank as of , and its orderly liquidation thereafter.

Statutory Notes and Related Subsidiaries

Effective Date of 2015 Amendment

Pub. L. 114–94June 30, 2015section 54001(d) of Pub. L. 114–94 section 635 of this titleAmendment by effective on , see , set out as a note under .

Effective Date of 1997 Amendment

Pub. L. 105–121, § 2(b)Nov. 26, 1997111 Stat. 2528

September 30, 1997“The amendment made by this section [amending this section] shall take effect on .”

, , , provided that:

Effective Date of 1978 Amendment

Pub. L. 95–630Nov. 10, 1978section 1917 of Pub. L. 95–630 section 635 of this titleAmendment by effective , see , set out as a note under .

Continuation of Bank Functions

section 1(c) of Pub. L. 103–428 section 635 of this titleProvisions extending the date that the Export-Import Bank of the United States could continue to exercise its functions in connection with and in furtherance of its objects and purposes notwithstanding the dates specified in this section and , set out as an Effective and Termination Dates of 1994 Amendments note under , were contained in the following acts:

Pub. L. 112–74, div. I, title VIDec. 23, 2011125 Stat. 1191May 31, 2012, , , extending the date to .

Pub. L. 107–186, § 1May 30, 2002116 Stat. 589June 14, 2002, , , extending the date to .

Pub. L. 107–168, § 1May 1, 2002116 Stat. 131May 31, 2002, , , extending the date to .

Pub. L. 107–156, § 1Mar. 31, 2002116 Stat. 117Apr. 30, 2002, , , extending the date to .

Pub. L. 107–115, title V, § 588Jan. 10, 2002115 Stat. 2174Mar. 31, 2002, , , extending the date to .

Pub. L. 107–44, § 115 Pub. L. 107–48Oct. 12, 2001115 Stat. 261Jan. 10, 2002, as added by , , , extending the date to .

Pub. L. 107–44, § 115Sept. 28, 2001115 Stat. 256Oct. 16, 2001Pub. L. 107–48Oct. 12, 2001115 Stat. 261, , , extending the date to , prior to repeal by , , .

Termination date for Bank’s functions was temporarily extended until the following dates by the acts listed below:

Nov. 7, 1997Pub. L. 105–64Oct. 23, 1997111 Stat. 1343Until , by , , .

Nov. 9, 1997Pub. L. 105–68Nov. 7, 1997111 Stat. 1453Until , by , , .

Nov. 10, 1997Pub. L. 105–69Nov. 9, 1997111 Stat. 1454Until , by , , .

Nov. 14, 1997Pub. L. 105–71Nov. 10, 1997111 Stat. 1456Until , by , , .

Nov. 26, 1997Pub. L. 105–84Nov. 14, 1997111 Stat. 1628Until , by , , .

Financial Assistance to the Union of Soviet Socialist Republics

Pub. L. 93–450, § 1Oct. 18, 197488 Stat. 1368 Pub. L. 93–450Oct. 15, 1974Nov. 30, 1974, , , provided in part that the Bank shall not authorize any financial assistance to the Union of Soviet Socialist Republics during the life of , which extended the termination date from , to .