LAPSED!!!!!!!

AS of 12:01 am July 1st, the charter of the Export Import Bank of the United States expired. In one of the most irresponsible and politically charged act, the Congress failed to bring bank’s reauthorization to a vote, letting it lapse (we hope temporarily). Thus, as of now, the United States are technically without an offcial Export Credit Agency supporting national exports. It is a shame and an outrage.

The following excerpt is reprinted from the blog by CC-Sulutions:

US Ex-Im Bank to lose its charter, which could be renewed in a few weeks’ time

Each week CC Solutions publishes stories of interest to exporters, lenders, and other export finance parties on our blog. You may visit our prior blog posts directly by clicking here. You may unsubscribe from future mailings by clicking here

  • Barring any eleventh-hour developments in Congress (which are unlikely), US Ex-Im Bank will lose its charter on June 30th. Claudia Slacik, the ECA’s chief banking officer and senior vice president, export finance, noted that if the agency’s charter does expire, it will continue to work on existing deals and simply cease doing any new business. Regardless of what happens, US Ex-Im Bank will continue to exist and honor its existing commitments to borrowers and lenders for years to come.
  • Many in Congress and elsewhere are optimistic about a full reauthorization of US Ex-Im Bank in July. Senate Majority Leader Mitch McConnell of Kentucky said Tuesday that it was possible that the Senate could vote in July on a full reauthorization of the agency as an amendment to the highway funding bill.
  • Meanwhile, outside the United States, governments continue to rely on ECAs to promote exports. In the United Kingdom, a Labor Party-commissioned report called for further reforms to UKEF to further expand its role in promoting exports.
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About Alexander Gordin
An international merchant banking professional with over twenty years of business operating and advisory experience in the areas of export finance, international project finance, risk mitigation and cross-border business development. Clients include foreign governments, municipalities and state enterprises as well as Fortune 500 and small/medium enterprises. Strong entrepreneurial instincts, combined with leadership and strategic skills. Transactional and negotiations experience in over thirty five countries. Author of the highly acclaimed "Fluent in Foreign Business" book and creator of the "Fluent in OPIC", "Fluent in EXIM","Fluent In Foreign Franchising", "Fluent in FCPA",and "Fluent in USTDA" seminar/webinar series. Currently developing "Fluent In ......" seminars and publications. Co-author of the Fi3 Country Business Appeal Indices. Extensive international business development and project finance transaction experience in healthcare, aerospace, ICT, conventional and alternative energy infrastructure, distribution and hospitality industries. Experience managing international public and private corporations. Co-Founded three companies abroad. Strong Emerging and Frontier Market expertise. Published and featured in numerous publications including: The Wall Street Journal, Knowledge@Wharton, NBC.com, The Chicago Tribune, Industry Week, Industry Today, Business Finance, Wharton Magazine Blog, NY Enterprise Report, Success magazine, Kyiv Post and on a number of radio and television programs including: Voice of America, CNBC, CNNfn, and Bloomberg. Frequent speaker on strategy, cross-border finance and international business development. Executive MBA from the Wharton School at the University of Pennsylvania. B.S. in Management of Information Systems from the Polytechnic Institute of NYU. Specialties Strategic Management Advisory, Export Finance, International Project Finance & Risk Management, Cross-border Negotiations, Structured Finance transactions, Senior Government and Corporate officials liason

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