Pub. L. 114-94, div. E, tit. LI, sec. 51002

INCREASE IN LOSS RESERVES.

EnactedYear: 2015Length: 101 wordsOfficial source
SEC. 51002. INCREASE IN LOSS RESERVES.(a) In General.—Section 6 of the Export-Import Bank Act of 1945 (12 U.S.C. 635e) is amended—(1) by redesignating subsection (b) as subsection (c); and(2) by inserting after subsection (a) the following:“(b) Reserve Requirement.—The Bank shall build to and hold in reserve, to protect against future losses, an amount that is not less than 5 percent of the aggregate amount of disbursed and outstanding loans, guarantees, and insurance of the Bank.”.(b) Effective Date.—The amendment made by subsection (a) shall take effect on the date that is one year after the date of the enactment of this Act.