Congress keeps Export-Import Bank alive
Last month, in a 78-20 vote, the United States Senate approved a House-passed bill that extends the Export-Import Bank's charter through September 2014 and raises its loan exposure cap by 40 percent to $140 billion, Politico reports. In exchange, the bill demands "greater transparency for any transaction of $100 million or more," newly required quarterly financial reports that show default rates remaining below two percent, and Treasury Secretary Timothy Geithner will have to initiate talks with U.S. trading partners toward "substantially reducing and ultimately ending the practice of export financing subsidies," the article said. For more, read the full story.
