Export-Import Bank Reauthorization – Passage

Passage of the bill that would reauthorize the Import-Export Bank's charter through fiscal 2019. The bill would reduce, from $140 billion to $135 billion, the limit on the amount of loans, guarantees and insurance the bank could have outstanding at any given time, and would prohibit the bank from issuing new loans if the default rate reaches or exceeds two percent. It would also direct the bank to increase the minimum amount of its financing required to be dedicated to small business from 20 to 25 percent. The measure would also establish chief risk officer and chief ethics officer positions, and would require the bank to be subject to an audit by the Government Accountability Office audit every four years.