Export-Import Bank of the United States Law and Legal Definition
Export-Import Bank of the United States is a federally chartered bank that finances the export of goods and services by direct lending or by issuing guarantees and insurance in order to provide credit extension for private banks. Executive Order 6581 of 2nd February, 1934 organized the Export-Import Bank of the United States. The Bank’s mission is to assist in financing the export of U.S. goods and services to international markets. The Bank enables U.S. companies to turn export opportunities into real sales that help to maintain and create U.S. jobs and contribute to a stronger national economy. It also provides working capital guarantees; export credit insurance; and loan guarantees and direct loans. The Bank became independent in 1945.