SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Export-Import Bank Reauthorization Act of 2012’’. 
(b) TABLE OF CONTENTS.—The table of contents of 
this Act is as follows: 
Sec. 1. Short title; table of contents. 
Sec. 2. Extension of authority. 
Sec. 3. Limitations on outstanding loans, guarantees, and insurance. 
Sec. 4. Export-Import Bank exposure limit business plan. 
Sec. 5. Study by the Comptroller General on the role of the Bank in the world 
economy and the Bank’s risk management. 
Sec. 6. Monitoring of default rates on Bank financing; reports on default rates; 
safety and soundness review. 
Sec. 7. Improvement and clarification of due diligence standards for lender 
partners. 
Sec. 8. Non-subordination requirement. 
Sec. 9. Notice and comment for Bank transactions exceeding $100,000,000. 
Sec. 10. Categorization of purpose of loans and long-term guarantees in annual 
report. 
Sec. 11. Negotiations to end export credit financing. 
Sec. 12. Publication of guidelines for economic impact analyses and documenta-
tion of such analyses. 
Sec. 13. Report on implementation of recommendations of the Government Ac-
countability Office. 
Sec. 14. Examination of Bank support for small business. 
Sec. 15. Review and report on domestic content policy. 
Sec. 16. Improvement of method for calculating the effects of Bank financing 
on job creation and maintenance in the United States. 
Sec. 17. Periodic audits of Bank transactions. 
Sec. 18. Prohibitions on financing for certain persons involved in sanctionable 
activities with respect to Iran. 
Sec. 19. Use of portion of Bank surplus to update information technology sys-
tems. 
Sec. 20. Modifications relating to the advisory committee. 
Sec. 21. Financing for goods manufactured in the United States used in global 
textile and apparel supply chains. 
Sec. 22. Technical correction. 
Sec. 23. Sub-Saharan Africa Advisory Committee. 
Sec. 24. Dual use exports. 
Sec. 25. Effective date. 
SEC. 2. EXTENSION OF AUTHORITY. 
Section 7 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635f) is amended by striking ‘‘2011’’ and in-
serting ‘‘2014’’.
SEC. 3. LIMITATIONS ON OUTSTANDING LOANS, GUARAN-
TEES, AND INSURANCE. 
Section 6(a)(2) of the Export-Import Bank Act of 
1945 (12 U.S.C. 635e(a)(2)) is amended— 
(1) in subparagraph (D), by striking ‘‘and’’; 
(2) in subparagraph (E), by striking the comma 
at the end and inserting ‘‘; and’’; and 
(3) by adding at the end the following: 
‘‘(F) during fiscal year 2012 and each suc-
ceeding fiscal year, $120,000,000,000, except 
that— 
‘‘(i) the applicable amount for each of 
fiscal years 2013 and 2014 shall be 
$130,000,000,000 if— 
‘‘(I) the Bank has submitted a 
report as required by section 4(a) of 
the Export-Import Bank Reauthoriza-
tion Act of 2012; and 
‘‘(II) the rate calculated under 
section 8(g)(1) of this Act is less than 
2 percent for the quarter ending with 
the beginning of the fiscal year, or for 
any quarter in the fiscal year; and 
‘‘(ii) notwithstanding clause (i), the 
applicable amount for fiscal year 2014 
shall be $140,000,000,000 if—
‘‘(I) the rate calculated under 
section 8(g)(1) of this Act is less than 
2 percent for the quarter ending with 
the beginning of the fiscal year, or for 
any quarter in the fiscal year; 
‘‘(II) the Bank has submitted a 
report as required by subsection (b) of 
section 5 of the Export-Import Bank 
Reauthorization Act of 2012, except 
that the preceding provisions of this 
subclause shall not apply if the Comp-
troller General has not submitted the 
report required by subsection (a) of 
such section 5 on or before July 1, 
2013; and 
‘‘(III) the Secretary of the Treas-
ury has submitted the reports re-
quired by section 11(b) of the Export- 
Import Bank Reauthorization Act of 
2012.’’. 
SEC. 4. EXPORT-IMPORT BANK EXPOSURE LIMIT BUSINESS 
PLAN. 
(a) IN GENERAL.—Not later than September 30, 
2012, the Export-Import Bank of the United States shall
submit to the Congress and the Comptroller General a 
written report that contains the following: 
(1) A business plan that— 
(A) includes an estimate by the Bank of 
the appropriate exposure limits of the Bank for 
2012, 2013, and 2014; 
(B) justifies the estimate; and 
(C) estimates any anticipated growth of 
the Bank for 2012, 2013, and 2014— 
(i) by industry sector; 
(ii) by whether the products involved 
are short-term loans, medium-term loans, 
long-term loans, insurance, medium-term 
guarantees, or long-term guarantees; and 
(iii) by key market. 
(2) An analysis of the potential for increased or 
decreased risk of loss to the Bank as a result of the 
estimated exposure limit, including an analysis of in-
creased or decreased risks associated with changes 
in the composition of Bank exposure, by industry 
sector, by product offered, and by key market. 
(3) An analysis of the ability of the Bank to 
meet its small business and sub-Saharan Africa 
mandates and comply with its carbon policy mandate 
under the proposed exposure limit, and an analysis
of any increased or decreased risk of loss associated 
with meeting or complying with the mandates under 
the proposed exposure limit. 
(4) An analysis of the adequacy of the re-
sources of the Bank to effectively process, approve, 
and monitor authorizations, including the conducting 
of required economic impact analysis, under the pro-
posed exposure limit. 
(b) GAO REVIEW
OF
REPORT
AND
BUSINESS 
PLAN.—Not later than June 1, 2013, the Comptroller 
General shall submit to the Congress a written analysis 
of the report and business plan submitted under sub-
section (a), which shall include such recommendations 
with respect to the report and business plan as the Comp-
troller General deems appropriate. 
SEC. 5. STUDY BY THE COMPTROLLER GENERAL ON THE 
ROLE OF THE BANK IN THE WORLD ECON-
OMY AND THE BANK’S RISK MANAGEMENT. 
(a) IN GENERAL.—Within 10 months after the date 
of the enactment of this Act, the Comptroller General of 
the United States shall complete and submit to the Ex-
port-Import Bank of the United States, the Committee on 
Banking, Housing, and Urban Affairs of the Senate and 
the Committee on Financial Services of the House of Rep-
resentatives a report which—
(1) evaluates— 
(A) the history of the rate of growth of the 
Bank, and its causes, with specific consider-
ation given to— 
(i) the capital market conditions for 
export financing; 
(ii) increased competition from foreign 
export credit agencies; 
(iii) the rate of growth of the Bank 
from 2008 to the present; 
(B) the effectiveness of the Bank’s risk 
management, including— 
(i) potential for losses from each of 
the products offered by the Bank; and 
(ii) the overall risk of the Bank’s 
portfolio, taking into account— 
(I) market risk; 
(II) credit risk; 
(III) political risk; 
(IV) industry-concentration risk; 
(V) 
geographic-concentration 
risk; 
(VI) obligor-concentration risk; 
and 
(VII) foreign-currency risk;
(C) the Bank’s use of historical default 
and recovery rates to calculate future program 
costs, taking into consideration cost estimates 
determined under the Federal Credit Reform 
Act of 1990 (2 U.S.C. 661 et seq.) and whether 
discount rates applied to cost estimates should 
reflect the risks described in subparagraph (B); 
(D) the fees charged by the Bank for the 
products the Bank offers, whether the Bank’s 
fees properly reflect the risks described in sub-
paragraph (B), and how the fees are affected by 
United States participation in international 
agreements; and 
(E) whether the Bank’s loan loss reserves 
policy is sufficient to cover the risks described 
in subparagraph (B); and 
(2) makes appropriate recommendations with 
respect to the matters so evaluated. 
(b) RECOMMENDATIONS
AND
REPORT
BY
THE 
BANK.—Not later than 120 days after the Bank receives 
the report, the Bank shall submit to the Congress a report 
on the implementation of recommendations included in the 
report so received. If the Bank does not adopt the rec-
ommendations, the Bank shall include in its report an ex-
planation of why the Bank has not done so.
SEC. 6. MONITORING OF DEFAULT RATES ON BANK FI-
NANCING; REPORTS ON DEFAULT RATES; 
SAFETY AND SOUNDNESS REVIEW. 
Section 8 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635g) is amended by adding at the end the 
following: 
‘‘(g) MONITORING OF DEFAULT RATES ON BANK FI-
NANCING; REPORTS ON DEFAULT RATES; SAFETY AND 
SOUNDNESS REVIEW.— 
‘‘(1) MONITORING OF DEFAULT RATES.—Not 
less frequently than quarterly, the Bank shall cal-
culate the rate at which the entities to which the 
Bank has provided short-, medium-, or long-term fi-
nancing are in default on a payment obligation 
under the financing, by dividing the total amount of 
the required payments that are overdue by the total 
amount of the financing involved. 
‘‘(2) ADDITIONAL CALCULATION BY TYPE OF 
PRODUCT, BY KEY MARKET, AND BY INDUSTRY SEC-
TOR; REPORT TO CONGRESS.—In addition, the Bank 
shall, not less frequently than quarterly— 
‘‘(A) calculate the rate of default— 
‘‘(i) with respect to whether the prod-
ucts involved are short-term loans, me-
dium-term loans, long-term loans, insur-
ance, medium-term guarantees, or long- 
term guarantees; 
‘‘(ii) with respect to each key market 
involved; and 
‘‘(iii) with respect to each industry 
sector involved; and 
‘‘(B) submit to the Committee on Banking, 
Housing, and Urban Affairs of the Senate and 
the Committee on Financial Services of the 
House of Representatives a report on each such 
rate and any information the Bank deems rel-
evant. 
‘‘(3) REPORT ON CAUSES OF DEFAULT RATE; 
PLAN TO REDUCE DEFAULT RATE.—Within 45 days 
after a rate calculated under paragraph (1) equals 
or exceeds 2 percent, the Bank shall submit to the 
Congress a written report that explains the cir-
cumstances that have caused the default rate to be 
at least 2 percent, and includes a plan to reduce the 
default rate to less than 2 percent. 
‘‘(4) PLAN CONTENTS.—The plan referred to in 
paragraph (3) shall— 
‘‘(A) provide a detailed explanation of the 
processes and controls by which the Bank mon-
itors and tracks outstanding loans;
‘‘(B) detail specific planned actions, includ-
ing a time frame for completing the actions, to 
reduce the default rate described in paragraph 
(1) to less than 2 percent. 
‘‘(5) MONTHLY REPORTS REQUIRED WHILE DE-
FAULT RATE IS AT LEAST 2 PERCENT.—For so long 
as the default rate calculated under paragraph (1) 
is at least 2 percent, the Bank shall submit monthly 
reports to the Congress describing the specific ac-
tions taken during such period to reduce the default 
rate. 
‘‘(6) SAFETY AND SOUNDNESS REVIEW.—If the 
default rate calculated under paragraph (1) remains 
above 2 percent for a period of 6 months, the Sec-
retary of the Treasury shall provide for an inde-
pendent third party to— 
‘‘(A) conduct a review of the loan pro-
grams and funds of the Bank, which shall de-
termine— 
‘‘(i) the financial safety and sound-
ness of the programs and funds; and 
‘‘(ii) the extent of loan loss reserves 
and capital adequacy of the programs and 
funds; and
‘‘(B) submit to the Secretary, within 60 
days after the end of the 6-month period, a re-
port that— 
‘‘(i) describes the methodology and 
standards used to conduct the review re-
quired by subparagraph (A); 
‘‘(ii) sets forth the results and find-
ings of the review, including the extent of 
loan loss reserves and capital adequacy of 
the programs and funds of the Bank; and 
‘‘(iii) includes recommendations re-
garding restoring the reserves and capital 
to maintain the programs and funds in a 
safe and sound condition.’’. 
SEC. 7. IMPROVEMENT AND CLARIFICATION OF DUE DILI-
GENCE STANDARDS FOR LENDER PARTNERS. 
Section 2 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635) is amended by adding at the end the fol-
lowing: 
‘‘(i) DUE DILIGENCE STANDARDS
FOR LENDER 
PARTNERS.—The Bank shall set due diligence standards 
for its lender partners and participants, which should be 
applied across all programs consistently. To minimize or 
prevent fraudulent activity, the Bank should require all
delegated lenders to implement ‘Know your customer prac-
tices’.’’. 
SEC. 8. NON-SUBORDINATION REQUIREMENT. 
Section 2 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635), as amended by section 7 of this Act, 
is amended by adding at the end the following: 
‘‘(j) NON-SUBORDINATION REQUIREMENT.—In en-
tering into financing contracts, the Bank shall seek a cred-
itor status which is not subordinate to that of all other 
creditors, in order to reduce the risk to, and enhance re-
coveries for, the Bank.’’. 
SEC. 9. NOTICE AND COMMENT FOR BANK TRANSACTIONS 
EXCEEDING $100,000,000. 
(a) IN GENERAL.—Section 3(c) of the Export-Import 
Bank Act of 1945 (12 U.S.C. 635a(c)) is amended by add-
ing at the end the following: 
‘‘(10) 
NOTICE
AND
COMMENT
REQUIRE-
MENTS.— 
‘‘(A) IN GENERAL.—Before any meeting of 
the Board for final consideration of a long-term 
transaction 
the 
value 
of 
which 
exceeds 
$100,000,000, and concurrent with any state-
ment required to be submitted under section 
2(b)(3) with respect to the transaction, the