,i  #aad? ,,congress  #a/ ,session  ,h4 
,r4 #chdg  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,octob] #bh1 #bjae    
,mr4 ,issa 7= himself1 ,mr4 ,pet]son1 & 
,mr4 ,hunt]7 introduc$ ! foll[+ bill2   
:i* 0 ref]r$ to ! ,committee on         
,f9ancial ,s]vices  ,a ,,bill  ,to      
provide = re=ms ( ! ,export-,import     
,bank ( ! ,unit$ ,/ates4  #a4 ,%ort     
title ,?is ,act may be cit$ z !         
,export-,import ,bank ,re=m ,act4  #b4  
,table ( cont5ts ,! table ( cont5ts (   
?is ,act is z foll[s3  ,sec4 #a4 ,%ort  
title4 ,sec4 #b4 ,table ( cont5ts4      
,title ,i--,improv+ ,transp>5cy ( !     
,export-,import ,bank ( ! ,unit$ ,/ates 
,sec4 #aja4 ,review ( ,bank product     
pric+ & cr$it /&>ds to avoid cr[d+ out (
 private export f9ance4 ,sec4 #ajb4     
,prohibit$ c\ntries4 ,sec4 #ajc4        
,employee c]tification & f9ancial       
disclosure4 ,sec4 #ajd4 ,p>allel ,,gaap 
report+4 ,sec4 #aje4 ,mak+ ! ,bank !    
l5d] ( la/ resort = loans1 attempt+     
private f9anc+ fir/4 ,sec4 #ajf4 ,audit 

committee4 ,sec4 #ajg4 ,report on       
privatiz+ ! ,bank4 ,sec4 #ajh4          
,indep5d5t audit ( ,bank portfolio4     
,title ,,ii--,improv+ ! ,acc\ntability (
 ! ,export-,import ,bank ( ! ,unit$     
,/ates ,sec4 #bja4 ,e>n+s ret5tion4     
,sec4 #bjb4 ,(fice ( ! ,presid5t & t]m  
limits4 ,sec4 #bjc4 ,repaym5t z         
priority4 ,sec4 #bjd4 ,limitations on   
out/&+ loans1 gu>antees1 & insurance4   
,sec4 #bje4 ,cr$it risk4 ,title         
,,iii--,job ,gr[? ,sec4 #cja4           
,m$ium-siz$ ent]prises4 ,sec4 #cjb4     
,inflation adju/m5t4  ,i ,improv+       
,transp>5cy ( ! ,export-,import ,bank ( 
! ,unit$ ,/ates  #aja4 ,review ( ,bank  
product pric+ & cr$it /&>ds to avoid    
cr[d+ out ( private export f9ance       
,section #h ( ! ,export-,import ,bank   
,act ( #aide 7#ab ,u4,s4,c4 #fce;g7 is  
am5d$ by add+ at ! end ! foll[+3  7l7   
,reports on private export f9anc+ &     
,bank pric+ & cr$it /&>ds  7#a7 ,private
 export f9anc+ ,! ,bo>d ( ,gov]nors ( ! 
,f$]al ,res]ve ,sy/em %all issue a      

semiannual report to ! ,congress on !   
t]ms & conditions 7includ+ int]e/ rates1
 maturities1 & cr$it /&>ds7 t apply 9 ! 
provision ( export f9ance by private    
f9ancial in/itutions4  7#b7 ,bank pric+ 
& cr$it /&>ds ,! ,bank %all issue an    
annual report to ! ,congress on ! /eps  
tak5 by ! ,bank to adju/ ! pric+ (      
products (f]$1 & ! cr$it /&>ds us$1 by !
 ,bank to avoid cr[d+ out private export
 f9ance4  4  #ajb4 ,prohibit$ c\ntries  
,section #h ( ! ,export-,import ,bank   
,act ( #aide 7#ab ,u4,s4,c4 #fce;g71 z  
am5d$ by section #aja ( ?is ,act1 is    
am5d$ by add+ at ! end ! foll[+3  7m7   
,recomm5dations reg>d+ prohibit$        
c\ntries ,! ,bo>d ( ,directors ( !      
,bank1 9 consultation ) ,congress1 !    
,presid5t1 & ! ,secret>y ( ,/ate1 %all  
develop recomm5dations annually reg>d+ !
 c\ntries ) :om & 9 :i* ! ,bank %\ld n  
be do+ bus9ess1 & ! ,bank %all include !
 recomm5dations 9 its annual report to !
 ,congress "u subsection 7a74  4  #ajc4 
,employee c]tification & f9ancial       

disclosure ,section #c7;e7 ( !          
,export-,import ,bank ,act ( #aide 7#ab 
,u4,s4,c4 #fce;a7e77 is am5d$ by add+ at
 ! end ! foll[+3  7#c7 ,e?ics  7,a7     
,code ( e?ics  7i7 ,9 g5]al ,! ,*ief    
,e?ics ,(fic] %all draft a ,code (      
,e?ics t sets out /rict & def9ite /&>ds 
( (ficial conduct = all ,bank directors1
 (fic]s1 & employees1 :i* ,code %all    
include a policy t prohibits conflicts (
 int]e/1 z describ$ 9 p>agraph 7#a7 (   
?is subsection1 & o!r policies1         
prohibitions1 & re/rictions t ! ,*ief   
,e?ics ,(fic] deems appropriate4  7ii7  
,consid]ations ,9 draft+ ! ,code (      
,e?ics1 ! ,*ief ,e?ics ,(fic] %all      
consid] ! ,pr9ciples ( ,e?ical ,conduct 
= ,gov]nm5t ,(fic]s & ,employee set =? 9
 ,executive ,ord] #abgca 7,oct4 #ag1    
#aiij74  7iii7 ,consi/5cy ) ,e?ics 9    
,gov]nm5t ,act ( #aigh ,! ,*ief ,e?ics  
,(fic] %all ensure t ! ,code ( ,e?ics is
 consi/5t ) ! ,e?ics 9 ,gov]nm5t ,act ( 
#aigh & ! regulations promulgat$ "u su* 
,act4  7iv7 ,effectiv5ess2 am5dm5t ,!   

,code ( ,e?ics 7& an am5dm5t to ! ,code7
 %all take effect on approval by !      
,bo>d4 ,! ,code ( ,e?ics may be am5d$   
only on ! recomm5dation ( ! ,*ief ,e?ics
 ,(fic]4  7v7 ,annual employee          
c]tifications ,! ,bo>d1 9 consultation )
 ! ,*ief ,e?ics ,(fic]1 %all implem5t a 
policy t requires all ,bank directors1  
(fic]s1 & employees to c]tify annually t
 !y h read1 und]/&1 & compli$ ) & w     
cont9ue to comply ) ! ,code ( ,e?ics4 ,!
 annual c]tifications %all conta9 a     
/atem5t t notifies ! signatory t section
 #ajja ( title #ah1 ,unit$ ,/ates ,code1
 applies to ! c]tification4  7,b7       
,f9ancial disclosure  7i7 ,9 g5]al ,)9  
#ahj days aft] ! date ( ! enactm5t ( ?is
 p>agraph1 ! ,bo>d1 9 consultation ) !  
,*ief ,e?ics ,(fic]1 %all prep>e a      
f9ancial disclosure =m = ,cov]$         
,individuals1 :i* =m %all--  7,i7       
require in=mation ab\t assets1 income1  
debts1 & any o!r f9ancial in=mation t ! 
,bo>d deems appropriate = ensur+ t a    
,cov]$ ,individual is 9 compliance ) !  

,code ( ,e?ics e/abli%$ "u subp>agraph  
7,a72 &  7,,ii7 be no less ext5sive ?an 
f9ancial reports requir$ to be fil$ "u  
title ,i ( ! ,e?ics 9 ,gov]nm5t ,act (  
#aigh & ! regulations promulgat$ "u su* 
,act4  7ii7 ,f9ancial report+ policy ,! 
,bo>d1 9 consultation ) ! ,*ief ,e?ics  
,(fic]1 %all implem5t a policy t-- 7,i7 
requires ea* ,cov]$ ,individual & !     
sp\se ( ! ,cov]$ ,individual to annually
 complete ! f9ancial disclosure =m &    
submit ! complet$ =m to ! ,g5]al ,c\nsel
 or 8 or h] designee = review2 &  7,,ii7
 all[s any ,cov]$ ,individual :o is     
requir$ to file f9ancial reports "u     
title ,i ( ! ,e?ics 9 ,gov]nm5t ,act (  
#aigh or any o!r ,f$]al law to file !   
f9ancial reports "u su* title or o!r law
 9 lieu ( ! f9ancial disclosure =m      
describ$ 9 ?is subp>agraph1 b ! ,bo>d   
may require ^? :o d s to supplem5t !    
f9ancial report ) all in=mation requir$ 
to be disclos$ "u ?is subp>agraph4      
7iii7 ,cov]$ ,individual def9$ ,9 ?is   
subp>agraph1 ! t]m ,cov]$ ,individual   

means any ,bank director1 (fic]1        
employee1 or contractor ) ! ability to  
affect any ,bank decision relat+ to     
f9anc+1 fund+1 insur+1 or o!rwise       
provid+ back+ to any company or project4
  7iv7 ,availability ( complet$ f9ancial
 disclosure =ms  7,i7 ,9 g5]al ,! ,bank 
%all make complet$ f9ancial disclosure  
=ms available to ! ,(fice ( ,inspector  
,g5]al = ! ,bank4  7,,ii7 ,prohibitions 
,a complet$ f9ancial disclosure =m %all 
n be made available-- 7aa7 to ano!r     
,bank director1 (fic]1 employee1        
attorney1 or ag5t1 except z necess>y to 
ensure compliance ( a ,cov]$ ,individual
 ) ?is subp>agraph1 ! ,code ( ,e?ics1 or
 any applicable law2 or  7bb7 to !      
public4  7,c7 ,rule ( int]pretation     
,no?+ 9 ?is p>agraph %all sup]s$e1      
modify1 *ange1 or o!rwise affect any    
requirem5t1 proc$ure1 or re/riction     
applicable to a ,bank employee1 (fic]1  
or director "u ! ,e?ics 9 ,gov]nm5t ,act
 ( #aigh t applies 9 addition to !      
requirem5ts1 proc$ures1 & re/rictions   

applicable to a ,bank employee1 (fic]1  
or director "u ?is p>agraph4  4  #ajd4  
,p>allel ,,gaap report+ ,section #h ( ! 
,export-,import ,bank ,act ( #aide 7#ab 
,u4,s4,c4 #fce;g71 z am5d$ by sections  
#aja & #ajb ( ?is ,act1 is am5d$ by add+
 at ! end ! foll[+3  7n7 ,p>allel ,,gaap
 report+ ,) any report issu$ by ! ,bank 
to ! ,congress or any committee ( !     
,congress t conta9s acc\nt+ in=mation t 
is n prep>$ us+ g5]ally accept$ acc\nt+ 
pr9ciples1 ! ,bank %all issue a #bnd    
report provid+ ! same acc\nt+ in=mation 
prep>$ us+ g5]ally accept$ acc\nt+      
pr9ciples4  4  #aje4 ,mak+ ! ,bank !    
l5d] ( la/ resort = loans1 attempt+     
private f9anc+ fir/ ,section #b ( !     
,export-,import ,bank ,act ( #aide 7#ab 
,u4,s4,c4 #fce7 is am5d$ by add+ at !   
end ! foll[+3  7l7 ,applicants = ,bank  
assi/ance requir$ ,to demon/rate        
inability ,to obta9 cr$it else:]e ,!    
,bank %all n gu>antee1 insure1 or ext5d 
cr$it1 or p>ticipate 9 an ext5sion (    
cr$it 9 connection ) a transaction1 to a

 privately own$ =eign applicant1 o!r ?an
 a f9ancial in/itution1 unless !        
applicant demon/rates to ! ,bank t--    
7#a7 ! applicant has s\ght1 & has be5   
unable to obta91 competitive f9anc+ = ! 
transaction )\t any support f ! ,ov]seas
 ,private ,inve/m5t ,corporation or !   
,small ,bus9ess ,adm9i/ration2 or  7#b7 
f9anc+ f a =eign export cr$it ag5cy is  
available to ! applicant to support     
comp>able =eign goods & s]vices compet+ 
) ! ,unit$ ,/ates exports t w\ld be     
f9anc$ by ! ,bank ?r\gh ! application4  
4  #ajf4 ,audit committee ,section      
#c7;c7 ( ! ,export-,import ,bank ,act ( 
#aide 7#ab ,u4,s4,c4 #fce;a7c77 is am5d$
 by r$esignat+ p>agraph 7#aj7 z p>agraph
 7#aa7 & ins]t+ aft] p>agraph 7#i7 !    
foll[+3  7#aj7 ,audit committee  7,a7   
,memb]%ip  7i7 ,9 g5]al ,9 addition to  
su* o!r duties z !y may be appo9t$ to   
p]=m "u subp>agraph 7#e71 ! directors :o
 are nei!r ,*airman nor ,vice ,*airman (
 ! ,bo>d %all con/itute ! ,audit        
,committee ( ! ,bo>d4  7ii7 ,special    

rule ,if t !re is only #a director :o is
 nei!r ,*airman nor ,vice ,*airman ( !  
,bo>d1 ! ,*ief ,risk ,(fic] ( ! ,bank   
%all be a tempor>y memb] ( ! ,audit     
,committee until a #bnd ,bank director  
:o is nei!r ,*airman nor ,vice ,*airman 
( ! ,bo>d is appo9t$ to ! ,bo>d4  7,b7  
,duties  7i7 ,)9 #a ye> aft] ! date ( ! 
enactm5t ( ?is p>agraph1 ! ,audit       
,committee %all develop & implem5t a    
program to audit1 on a regul> & r\t9e   
basis1 ! loan1 gu>antee1 insurance1 &   
cr$it programs ( ! ,bank4  7ii7 ,!      
,audit ,committee %all-- 7,i7 provide   
assi/ance to ! ,bo>d 9 fulfill+ !       
acc\nt+ & report+ responsibilities ( !  
,bo>d2  7,,ii7 evaluate :e!r ! ,bank has
 adequate adm9i/rative & f9ancial       
controls2  7,,iii7 review ! f9ancial    
/atem5ts prep>$ by managem5t =          
di/ribution to ! ,congress & ! public2 &
  7,,iv7 provide direction ov] ! int]nal
 audit function & ! indep5d5t acc\ntants
 ( ! ,bank4  7,c7 ,reports ,! ,audit    
,committee %all report to ! ,bo>d       

regul>ly on its activities b may act    
indep5d5tly ( ! ,*airman & ,vice        
,*airman4  7,d7 ,proc$ural rules  7i7   
,quorum ,two memb]s %all con/itute a    
quorum ( ! ,audit ,committee4  7ii7     
,action only by majority vote ,! ,audit 
,committee may act only by majority     
vote4  4  #ajg4 ,report on privatiz+ !  
,bank ,)9 #bgj days aft] ! date ( !     
enactm5t ( ?is ,act1 ! ,presid5t1 9     
consultation ) ! ,advisory ,committee ( 
! ,bank1 ! ,comptroll] ( ! ,curr5cy1 & !
 ,gov]nors ( ! ,f$]al ,res]ve ,bo>d1    
%all submit to ! ,committees on         
,appropriations & ,f9ancial ,s]vices ( !
 ,h\se ( ,repres5tatives & ! ,committees
 on ,appropriations & ,bank+1 ,h\s+1 &  
,urban ,affairs ( ! ,s5ate a report on !
 programs ( ! ,bank t may be fully or   
p>tially privatiz$1 :i* report %all--   
7#a7 consid]1 b n be limit$ to1 !       
e/abli%m5t ( a public-private p>tn]%ip  
to create a m>ket w9d[1 z all[$ "u      
,section #ae ( ! ,export-,import ,bank  
,act ( #aide1 to compete aga9/ simil>   

=eign-support$ m>ket w9d[s to maximize  
private-sector p>ticipation2  7#b7      
include an evaluation ( :e!r !          
adm9i/ration ( ! insurance &            
work+-capital programs ( ! ,bank c\ld be
 p>tially or completely privatiz$2 &    
7#c7 include an analysis ( ! curr5t     
regulatory re/rictions relat$ to        
capital-allocation requirem5ts =        
pre-export work+ capital & cross-bord]  
l5d+ 9 am\nts exce$+ #be1jjj1jjj4  #ajh4
 ,indep5d5t audit ( ,bank portfolio  7a7
 ,audit ,! ,inspector ,g5]al ( !        
,export-,import ,bank ( ! ,unit$ ,/ates 
%all conduct an audit ( ! portfolio risk
 managem5t proc$ures ( ! ,bank1 includ+ 
a review ( ! implem5tation by ! ,bank ( 
! duties assign$ to ! ,*ief ,risk ,(fic]
 "u ! ,export-,import ,bank ,act (      
#aide4  7b7 ,report ,n lat] ?an #a ye>  
aft] ! appo9tm5t ( ! ,*ief ,risk ,(fic] 
( ! ,export-,import ,bank ( ! ,unit$    
,sates1 ! ,inspector ,g5]al %all submit 
to ! ,committee on ,f9ancial ,s]vices ( 
! ,h\se ( ,repres5tatives & ! ,committee

 on ,bank+1 ,h\s+1 & ,urban ,affairs ( !
 ,s5ate a writt5 report conta9+ all     
f9d+s & det]m9ations made 9 c>ry+ out   
subsection 7a74  ,,ii ,improv+ !        
,acc\ntability ( ! ,export-,import ,bank
 ( ! ,unit$ ,/ates  #bja4 ,e>n+s        
ret5tion ,section #b7;a77#a7 ( !        
,export-,import ,bank ,act ( #aide 7#ab 
,u4,s4,c4 #fce7;a77#a77 is am5d$ by     
/rik+ ,net e>n+s ( ! ,bank aft]         
reasonable provision = possible losses  
%all be us$ = paym5t ( divid5ds on      
capital /ock4 & ins]t+ ,! ,bank %all    
reta9 n less ?an #cj p]c5t ( total net  
e>n+s z a provision = possible losses4  
,not)/&+ ! previ\s s5t5ce1 dur+ any     
p]iod :5 ! aggregate ( su* reta9$ e>n+s 
is less ?an #aj p]c5t ( ! applicable    
am\nt 7z def9$ "u section #f7;a77#b771 !
 ,bank %all reta9 n less ?an #hj p]c5t (
 total net e>n+ z a provision = possible
 losses4 ,net e>n+s t are n reta9$ z a  
provision = possible losses %all be us$ 
= paym5t ( divid5ds on capital /ock44   
#bjb4 ,(fice ( ! ,presid5t & t]m limits 

,section #c ( ! ,export-,import ,bank   
,act ( #aide 7#ab ,u4,s4,c4 #fce;a7 is  
am5d$-- 7#a7 9 subsection 7b71 by ins]t+
 :o %all be *os5 f among ^? individuals 
) at lea/ #ae ye>s ( bank+ exp]i5ce1    
be=e & :o %all s]ve z *ief executive2 & 
7#b7 9 subsection 7c77#h77;,a7-- 7,a7 9 
clause 7iii71 by /rik+ & at ! end2  7,b7
 9 clause 7iv71 by /rik+ ! p]iod at !   
end & ins]t+ 2 &2 &  7,c7 by add+ at !  
end ! foll[+3  7v7 no p]son may s]ve z !
 ,presid5t ( ! ,bank = m ?an #b t]ms4  4
  #bjc4 ,repaym5t z priority ,section   
#b7;b77#a7 ( ! ,export-,import ,bank    
,act ( #aide 7#ab ,u4,s4,c4             
#fce7;b77#a77 is am5d$--  7#a7 9        
subp>agraph 7,b71 by /rik+ 1 t loans1 s 
f> z possible consi/5t ) ! c>ry+ out ( !
 purposes ( subsection 7a7 ( ?is        
section1 %all g5]ally be = specific     
purposes1 &1 9 ! judgm5t ( ! ,bo>d (    
,directors1 (f] reasonable assurance (  
repaym5t2 &  7#b7 by /rik+ subp>agraph  
7,c7 & ins]t+ ! foll[+3  7,c7 ,! ,bank  
%all conduct all programs ( ! ,bank 9 a 

mann] t1 9 ! judgm5t ( ! ,bo>d (        
,directors1 (f]s reasonable assurance ( 
repaym5t & m9imizes risk ( loss4 ,loans 
made by ! ,bank %all be = specific      
purposes4  4  #bjd4 ,limitations on     
out/&+ loans1 gu>antees1 & insurance    
,section #f7;a77#b7 ( ! ,export-,import 
,bank ,act ( #aide 7#ab ,u4,s4,c4       
#fce;e7a77#b77 is am5d$ to read z       
foll[s3  7#b7 ,applicable am\nt ,9      
p>agraph 7#a71 ! t]m applicable am\nt   
means #acj1jjj1jjj1jjj4  4  #bje4 ,cr$it
 risk ,section #b7;b77#a77;,a7 ( !      
,export-,import ,bank ,act ( #aide 7#ab 
,u4,s4,c4 #fce7;b77#a77;,a77 is am5d$ by
 ins]t+ aft] 7z def9$ 9 section         
#aj7;h77#c77 ! foll[+3 1 provid$ t ?is  
objective is accompli%$ 9 a mann]       
calculat$ to m9imize f9ancial risk to ! 
,bank4  ,,iii ,job ,gr[?  #cja4         
,m$ium-siz$ ent]prises ,section         
#b7;b77#a77;,f7 ( ! ,export-,import     
,bank ,act ( #aide 7#ab ,u4,s4,c4       
#fce7;b77#a77;,f77 is am5d$ to read z   
foll[s3  7,f7 ,fair consid]ation =      

m$ium-,siz$ ent]prises ,9 addition to ! 
programs ( ! ,bank to enc\rage !        
p>ticipation ( small bus9esses 9        
int]national comm]ce1 ! policies ( !    
,bank %all give fair consid]ation to    
mak+ loans & provid+ gu>antees = !      
export ( goods & s]vices by m$ium-siz$  
ent]prises4  4  #cjb4 ,inflation        
adju/m5t ,section #ab ( !               
,export-,import ,bank ,act ( #aide 7#ab 
,u4,s4,c4 #fce;i-#f7 is am5d$ to read z 
foll[s3  #ab4 ,inflation adju/m5t       
,beg9n+ on ! date on :i* ! ,bureau (    
,labor ,/ati/ics ( ! ,dep>tm5t ( ,labor 
fir/ publi%es ! ,consum] ,price ,index  
aft] ! date t is #a ye> aft] ! date ( ! 
enactm5t ( ?is section1 & annually      
!reaft]1 ! ,bank %all adju/ all doll>   
am\nts specifi$ 9 ?is ,act by ! p]c5tage
 *ange 9 ! ,consum] ,price ,index       
publi%$ on t date f ! ,consum] ,price   
,index publi%$ ! previ\s ye>4  4