§ 635a-2. — Implementation of regulations and procedures to lessen adverse effect of loans and guarantees on industries in United States; report by United States International Trade Commission; written consideration of views of adversely affected parties.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC635a-2]
TITLE 12--BANKS AND BANKING
CHAPTER 6A--EXPORT-IMPORT BANK OF THE UNITED STATES
SUBCHAPTER I--GENERAL PROVISIONS
Sec. 635a-2. Implementation of regulations and procedures to
lessen adverse effect of loans and guarantees on industries in
United States; report by United States International Trade
Commission; written consideration of views of adversely affected
parties
The Bank shall implement such regulations and procedures as may be
appropriate to insure that full consideration is given to the extent to
which any loan or financial guarantee is likely to have an adverse
effect on industries, including agriculture, and employment in the
United States, either by reducing demand for goods produced in the
United States or by increasing imports to the United States. To carry
out the purposes of this subsection,\1\ the Bank shall request, and the
United States International Trade Commission shall furnish, a report
assessing the impact of the Bank's activities on industries and
employment in the United States. Such report shall include an assessment
of previous loans or financial guarantees and shall provide
recommendations concerning general areas which may adversely affect
domestic industries, including agriculture, and employment. After
October 1, 1983, there are authorized to be appropriated such sums as
may be necessary to carry out the provisions of this section. In all
cases to which this section applies, the Bank shall consider and address
in writing the views of parties or persons who may be substantially
adversely affected by the loan or guarantee prior to taking final action
on the loan or guarantee. This requirement does not subject the Bank to
the provisions of subchapter II of chapter 5 of title 5.
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\1\ So in original. Probably should be ``section,''.
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(Pub. L. 95-630, title XIX, Sec. 1911, Nov. 10, 1978, 92 Stat. 3726;
Pub. L. 98-181, title VI, Sec. 632, Nov. 30, 1983, 97 Stat. 1262; Pub.
L. 99-472, Sec. 12, Oct. 15, 1986, 100 Stat. 1204.)
Codification
Section was enacted as part of the Export-Import Bank Act Amendments
of 1978, and not as part of the Export-Import Bank Act of 1945 which
comprises this subchapter.
Amendments
1986--Pub. L. 99-472 inserted provisions which required written
consideration by Bank of views of parties or persons who may be
substantially adversely affected by loan or guarantee prior to taking
final action on loan or guarantee without subjecting Bank to subchapter
II of chapter 5 of title 5.
1983--Pub. L. 98-181 inserted provision that after October 1, 1983,
there are authorized to be appropriated such sums as may be necessary to
carry out the provisions of this section.
Effective Date
Section effective Nov. 10, 1978, see section 1917 of Pub. L. 95-630,
set out as an Effective Date of 1978 Amendment note under section 635 of
this title.
