T he Export-Import Bank of the United States (Ex-Im Bank or the Bank) operates under a renewable general statutory charter (Export-Import Bank Act of 1945, as amended), extended through September 30, 2019, by the Export-Import Bank Reform and Reauthorization Act of 2015 (Division E of P.L. 114-94 , a surface transportation authorization measure). Enacted on December 4, 2015, this act generally lowered Ex-Im Bank's statutory lending authority ("exposure cap" for outstanding portfolio) to $135 billion for each of FY2015-FY2019, and made reforms in a number of areas, including to Ex-Im Bank's policies or operations in risk management, fraud controls, and ethics, as well as to the U.S. approach to international negotiations on export credit financing. Ex-Im Bank, a wholly owned U.S. government corporation, is the official export credit agency (ECA) of the United States. Its mission is to assist in financing and facilitating U.S. exports of goods and services and, in doing so, to contribute to U.S. employment. What are Ex-Im Bank's origins and early history?5

Ex-Im Bank, established by the Export-Import Bank Act of 1945, as amended (P.L. Congress also provides an annual appropriation for the Bank, and conducts oversight of its activities. Those in favor of Ex-Im Bank assert that it supports U.S. exports and jobs by addressing shortfalls in private sector financing and helping U.S. exporters compete against foreign companies backed by their governments' ECAs. Critics assert that it crowds out private sector activity, picks winners and losers through its support, operates as a form of "corporate welfare," and poses a risk to taxpayers. What is its leadership structure? Ex-Im Bank also has an Advisory Committee, which is required by its charter to consist of 17 members appointed by the Board of Directors on the recommendation of the President of the Bank. Without a quorum, it cannot approve transactions above $10 million. Nominations of members to the Board would be subject to Senate approval. What are sources of export financing? International Context

		What is the global ECA marketplace? Policies and requirements. What is the debate over Ex-Im Bank's risk management practices? Ex-Im Bank's reauthorization in 2015 was preceded by debate in Congress over the adequacy of Ex-Im Bank's existing fraud control and ethics practices. Sunset in Authority

		What are the implications of a sunset in Ex-Im Bank's authority for the agency's activities?190

Ex-Im Bank's general statutory authority expired for about five months in 2015 (July 31-December 3, 2015) when Congress did not take action to renew its charter. Historical and Current Approaches to Reauthorization

		Historically, for how long has Congress extended Ex-Im Bank's authority? Members of the 114 th Congress actively debated Ex-Im Bank and ultimately reauthorized the Bank with bipartisan support. Selected CRS Resources
General Resources
CRS Report R43581, Export-Import Bank: Overview and Reauthorization Issues , by [author name scrubbed]. CRS In Focus IF10017, Export-Import Bank of the United States (Ex-Im Bank) , by [author name scrubbed].
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 financing and facilitating U.S. exports of goods and services to support U.S. employment. Ex-Im Bank operates under a renewable general statutory charter (Export-Import Bank Act of 1945, as amended). In the 114th Congress, Ex-Im Bank's charter was extended through September 30, 2019, by the Export-Import Bank Reform and Reauthorization Act of 2015 (Division E of P.L. 114-94, a surface transportation authorization measure). Enacted on December 4, 2015, this act generally lowered Ex-Im Bank's statutory lending authority ("exposure cap" for outstanding portfolio) to $135 billion for each of FY2015-FY2019, and made reforms to, among other things, Ex-Im Bank's policies or operations in risk management, fraud controls, and ethics, as well as the U.S. approach to international negotiations on export credit financing. Ex-Im Bank's reauthorization, ultimately on a bipartisan basis in Congress, was preceded by active debate among Members about whether to renew Ex-Im Bank's authority and if so, for how long and under what terms.
Debate continues in Congress over Ex-Im Bank's rationales. Proponents contend that the Bank supports U.S. exports and jobs by filling gaps in private sector financing and helping U.S. exporters compete against foreign companies backed by their ECAs. Critics contend that Ex-Im Bank crowds out private sector activity, provides "corporate welfare," and poses a risk to taxpayers. Members also may consider other issues, particularly possible nominations of members to Ex-Im Bank's five-member Board of Directors. The Board, whose members are appointed by the President and with the Senate's advice and consent, is responsible for approving Ex-Im Bank transactions for financing and insurance. Due to current vacancies on the Board, the Board does not have a quorum and cannot approve financial commitments above $10 million. Congress also may conduct oversight of Ex-Im Bank's implementation of reforms required by the 2015 reauthorization act, as well as issues presented by the international context for ECA activity, among other issues.
Congressional consideration of Ex-Im Bank raises a range of questions. This report addresses a number of those questions that are frequently asked, including:
What is the Export-Import Bank and what is the debate over its reauthorization? What is its leadership structure? What are its programs, policies, and activities? What is its international context? How does its budget work? How does it manage risk? What are the implications of a sunset in authority for the Bank's activities? What are historical and current approaches to Ex-Im Bank reauthorization?
Additional CRS resources on Ex-Im Bank include CRS Report R43581, Export-Import Bank: Overview and Reauthorization Issues, by [author name scrubbed], and CRS In Focus IF10017, Export-Import Bank of the United States (Ex-Im Bank), by [author name scrubbed].