EXPORT-IMPORT BANK ACT AMENDMENTS.

SEC. 101. EXPORT-IMPORT BANK ACT AMENDMENTS. (a) Interest Subsidy Payments.—Section 2(f) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(f)) is amended— (1) by striking paragraph (2) and redesignating paragraphs (3), (4), and (5) as paragraphs (2), (3), and (4), respectively; (2) by amending paragraph (3) (as so redesignated by paragraph (1) of this subsection) to read as follows: “(3) Limitation on authorization of appropriations.— To carry out this subsection, there are authorized to be appropriated to the Bank not to exceed— “(A) $20,000,000, for fiscal year 1990; and “(B) $35,000,000, for fiscal year 1991.”; and (3) in paragraph (4) (as so redesignated by paragraph (1) of this subsection), by striking “1988” and inserting “1991”. (b) Tied Aid Credit Program and Fund.— 103 STAT. 2494 (1) Purpose.— Section 15(a)(5) of such Act (12 U.S.C. 635i-3(a)(5)) is amended by striking all that follows “commercial advantage” and inserting “for the purposes of— “(A) enforcing compliance with the existing arrangement restricting the use of tied aid and partially untied aid credits for commercial purposes; and “(B) facilitating efforts to negotiate, establish, and enforce new or revised comprehensive international arrangements effectively restricting the use of tied aid and partially untied aid credits for commercial purposes; and such program should be used aggressively for such purposes.”. (2) Establishment of program.—The first sentence of section 15(b)(1) of such Act (12 U.S.C. 635i-3(b)(1) is amended by striking the matter preceding subparagraph (A) and inserting “To carry out the purposes of subsection (a)(5), the Bank shall establish a tied aid credit program under which grants shall be made from funds available in the Tied Aid Credit Fund established under subsection (c)—”. (3) Administration of program.—Section 15(b)(2)(A) of such Act (12 U.S.C. 635i-3(b)(2)(A)) is amended by striking all that follows “to” and inserting “carry out the purposes described in subsection (a)(5);”. (4) Availability of funds.— Section 15(c)(2) of such Act (12 U.S.C. 635i-3(c)(2)) is amended— (A) by striking “cost” and inserting “amount equal to the concessionality level”; and (B) by striking all that follows “authorized by the Bank” and inserting “through fiscal year 1991.”. (5) Limitation on authorization of appropriations for fiscal years 1990 and 1991.—Section 15(e)(1) of such Act (12 U.S.C. 635i-3(e)(1) is amended by inserting “, and for fiscal years 1990 and 1991, $300,000,000” after “$300,000,000”. (6) Reports.— Section 15(g)(2)(E) of such Act (12 U.S.C. 635i–3(g)(2)(E)) is amended to read as follows: “(E) the progress achieved by negotiations conducted to carry out the purposes described in subsection (a)(5).”. (7) Limitation on authorization of appropriations for fiscal years 1990, 1991, and 1992.—Section 15(e)(1) of such Act (12 U.S.C. 635i–3(e)(1) is amended by inserting “, and for fiscal years 1990, 1991, and 1992, $200,000,000” after “$300,000,000”. (c) Authority To Accept Reimbursement for Certain Expenses.—Section 2(a)(1) of such Act (12 U.S.C. 635(a)(1) is amended— (1) in the 6th sentence— (A) by striking “The Bank may” and inserting “Subject to regulations which the Bank shall issue pursuant to section 553 of title 5, United States Code, the Bank may”; and (B) by inserting “, and may accept reimbursement for travel and subsistence expenses incurred by a director, officer, or employee of the Bank, in accordance with subchapter I of chapter 57 of title 5, United States Code” before the period; and (2) in the 7th sentence, by inserting “and shall be offset against the expenses of the Bank for such activities” before the period. 103 STAT. 2495 (d) Clarifying Amendment.—Section 2(b)(6)(G) of such Act (12 U.S.C. 635(b)(6)(G)) is amended by striking “this paragraph” and inserting “subparagraphs (B), (C), (D), and (F)”. (e) Report With Respect to Loan Loss Reserves.—Before the end of the 6-month period beginning on the date of the enactment of this section, the Export-Import Bank of the United States shall submit a report to the Congress explaining why the Bank has not established a loan loss reserve. In preparing such report, the Bank shall— (1) determine if the establishment of a loan loss reserve would result in the unproductive characterization of the credit worthiness of certain types of borrowers; (2) consult with the appropriate Executive branch entities to determine the budgeting and financial management implications of establishing a loan loss reserve; (3) review whether, and the extent to which similar bilateral and multilateral lending institutions make provision against loan losses; and (4) report on the steps needed to return the Bank to profitability.