Guarantees to Export-Import Bank; financial transactions with private sector in Central American countries
12 U.S.C. 635(b)(1)(B)12 U.S.C. 635In order to enable the Export-Import Bank of the United States (hereafter in this section referred to as the “Bank”) to determine that there exists reasonable assurance of repayment as required under section 2(b)(1)(B) of the Export-Import Bank Act of 1945 [], the agency primarily responsible for administering subchapter I of this chapter (hereafter in this section referred to as the “Agency”) is authorized to provide guarantees to the Bank for liabilities to be incurred by the Bank in connection with guarantees or insurance provided under the Export-Import Bank Act of 1945 [ et seq.] for financing for transactions involving the export of goods and services for the use of the private sector in Central American countries.
Extent of guarantees; agreements; reserve fund
Deadline for guarantee commitments
The Agency shall not enter into any commitments to guarantee under subsection (a) after .
Availability of appropriated funds
Of the funds authorized to be appropriated for part IV of subchapter II of this chapter, there are authorized to be made available such sums as may be deemed necessary by the Agency to discharge liabilities under guarantees entered into under subsection (a).
Guarantee commitments limit
Commitments to guarantee under subsection (a) are authorized only to the extent and in the amounts provided in appropriations Acts, except that the aggregate amount of outstanding commitments under subsection (a) may not exceed $300,000,000 of contingent liability for loan principal during fiscal year 1986 and may not exceed $400,000,000 of contingent liability for loan principal during fiscal year 1987.
Credits to reserve fund
To the extent that any of the funds made available pursuant to subsection (d) are paid out for a claim arising out of liabilities guaranteed under subsection (a), amounts received after the date of such payment, with respect to such claim, shall be credited to the reserve fund referred to in subsection (b), shall be merged with the funds in such reserve, and shall be available for the purpose of payments by the Agency to the Bank for guarantees under subsection (a).
Omitted
Administrative and technical assistance
The Export-Import Bank shall provide without reimbursement such administrative and technical assistance to the Agency as the Bank and the Agency deem appropriate to assist the Agency in carrying out this section.
Pub. L. 87–195Pub. L. 98–473, title I, § 101(1) [title V, § 541(a)]98 Stat. 1884Pub. L. 99–83, title III, § 31499 Stat. 217Pub. L. 101–167, title IV103 Stat. 1216Pub. L. 101–179, title III, § 304(b)103 Stat. 1313Pub. L. 101–513, title IV104 Stat. 2001(, pt. I, § 224, as added , , , 1903; amended , , ; , , ; , , ; , , .)
Editorial Notes
References in Text
act July 31, 1945, ch. 34159 Stat. 526section 635 of Title 12The Export-Import Bank Act of 1945, referred to in subsec. (a), is , , which is classified generally to subchapter I (§ 635 et seq.) of chapter 6A of Title 12, Banks and Banking. For complete classification of the Act to the Code, see Short Title note set out under and Tables.
Codification
section 3003 of Pub. L. 104–66section 1113 of Title 31Subsec. (g) of this section, which required, at intervals of six months, the administrator of the agency primarily responsible for administering subchapter I of this chapter and the President of the Export-Import Bank of the United States to prepare and transmit to the Speaker of the House of Representatives and the Chairman of the Committee on Foreign Relations of the Senate a report on the amount and extension of credits during the preceding six-month period, terminated, effective , pursuant to , as amended, set out as a note under , Money and Finance. See, also, page 148 of House Document No. 103–7.
Section 224 of Pub. L. 87–195Pub. L. 98–473 is based on section 1011 of title X of H.R. 5119, Ninety-eighth Congress, as passed by the House of Representatives , and enacted into law by .
Prior Provisions
section 224 of Pub. L. 87–19575 Stat. 432Pub. L. 87–56576 Stat. 257Pub. L. 88–20577 Stat. 382Pub. L. 88–63378 Stat. 1010Pub. L. 89–17179 Stat. 655Pub. L. 89–58380 Stat. 798Pub. L. 90–13781 Stat. 451Pub. L. 90–55482 Stat. 961Pub. L. 91–17583 Stat. 807section 2182 of this titleA prior , pt. I, , , as amended by , pt. I, § 104(c), , ; , pt. I, § 104(g), , ; , pt. I, § 103(b), , ; , pt. I, § 104(e), , ; , pt. I, § 104(c), , ; , pt. I, § 104(d), , ; , pt. I, § 104, , , related to housing projects in Latin America, prior to the general reorganization of this subpart by , pt. I, § 105, , . See .
Amendments
Pub. L. 101–5131990—Subsec. (c). substituted “1991” for “1990”.
Pub. L. 101–1791989— inserted “for Central America” after “program” in section catchline.
Pub. L. 101–167Subsec. (c). substituted “1990” for “1989”.
Pub. L. 99–831985—Subsec. (e). substituted “except that the aggregate amount of outstanding commitments under subsection (a) may not exceed $300,000,000 of contingent liability for loan principal during fiscal year 1986 and may not exceed $400,000,000 of contingent liability for loan principal during fiscal year 1987” for “not to exceed $300,000,000 in the fiscal year 1985”.
Statutory Notes and Related Subsidiaries
References to Subchapter I Deemed To Include Certain Parts of Subchapter II
section 202(b) of Pub. L. 92–226section 2346 of this titleReferences to subchapter I of this chapter are deemed to include parts IV (§ 2346 et seq.), VI (§ 2348 et seq.), and VIII (§ 2349aa et seq.) of subchapter II of this chapter, and references to subchapter II are deemed to exclude such parts. See , set out as a note under , and sections 2348c and 2349aa–5 of this title.
Effective Date of 1985 Amendment
Pub. L. 99–83section 1301 of Pub. L. 99–83section 2151–1 of this titleAmendment by effective , see , set out as a note under .