Summary:The Export-Import Bank of the United States (Ex-Im Bank or the Bank), a wholly owned federal government corporation, is the official export credit agency (ECA) of the U.S. government. Its mission is to assist in the financing of U.S. exports of goods and services to support U.S. employment. On a demand-driven basis, it seeks to provide financing when the private sector is unwilling, or unable, to undertake alone such financing at terms commercially viable for exporters; and/or to meet foreign competition by countering government-backed financing offered by foreign countries to their companies. Its statutory charter (Export-Import Bank Act of 1945, as amended, 12 U.S.C. §635 et seq.) expires on September 30, 2014 (P.L. 112-122), meaning that the agency's authority to enter into new obligations generally would cease and a wind-down of operations would be required. (This issue is distinct from an"authorization of appropriations" expiring, which would not, in and of itself, terminate such authority to operate.) Congress is considering whether to renew Ex-Im Bank's authority and, if so, for how long and under what terms. See CRS Report R43671, Export-Import Bank Reauthorization: Frequently Asked Questions, and CRS In Focus IF00021, Export-Import Bank (Ex-Im Bank) Reauthorization (In Focus).
