Senate Extends Export-Import Bank 3 Years, Sets 2014 Lending Limit At $140B

blankThe Senate voted to extend the Export-Import Bank’s operating authority for three years and increase its lending capacity 40 percent to $140 billion by fiscal year 2014, Bloomberg reports.

The bank serves as the U.S. government’s official export credit agency, where it finances and insures international purchases of U.S. goods to the tune of $100 billion per year.

According to a bank fact sheet, it financed $11 billion in sales of Boeing-made aircraft.

Under a bipartisan compromise, approved 78-20 in the full chamber, the lending limit will go up to $120 billion this year, $130 billion in 2013 and reach $140 billion by the end of fiscal 2014.

President Franklin D. Roosevelt authorized the bank in 1934 through an executive order.

You may also be interested in...

Bruce Caswell

Maximus Reports Q4 FY 2020 Results; Bruce Caswell Quoted

Maximus has reported financial results for the fourth quarter and full year, which ended Sept. 30, 2020. for fiscal 2020, revenue increased to $3.46 billion compared to $2.89 billion reported for the same period last year. Maximus reported organic growth of 15.7 percent in fiscal 2020, or 4.6 percent excluding the Census contract. 

Leave a Reply

Your email address will not be published. Required fields are marked *