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ARTICLE · 14 DECEMBER 2015

EXIM Bank Back In Business

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Last week, Congress reauthorized the Export-Import Bank of the United States as part of the "Fixing America's Surface Transportation (FAST) Act," a law funding new transportation infrastructure.

United StatesFinance and Banking
Brian Weimer
Brian Weimer
Douglas Svor
Douglas Svor
Ashley Yeager
Ashley Yeager
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Last week, Congress reauthorized the Export-Import Bank of the United States as part of the "Fixing America's Surface Transportation (FAST) Act," a law funding new transportation infrastructure.  The bill was signed into law on Dec. 4.  EXIM Bank has been unable to lend to new projects since its charter expired on June 30 this year.  The FAST Act reauthorizes it for four years – through Sept. 30, 2019 – and enables it to begin lending again.

EXIM Bank is the official export credit agency (ECA) of the United States.  In this capacity, it supports the export of U.S. companies' goods and services to foreign buyers and provides financial backing to guarantee payment to U.S. companies.  This includes critical support for  satellite deals that many commercial lenders are unable or unwilling to finance.

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