GAO-13-303, Mar 28, 2013
From fiscal year 2008 to fiscal year 2012, the U.S. Export-Import Bank’s (Ex-Im) outstanding financial commitments (exposure) grew from about $59 billion to about $107 billion, largely in long-term loans and guarantees. Factors associated with this growth include reduced private-sector financing following the financial crisis and Ex-Im’s authorization of direct loans–a product not offered by export credit agencies in some other countries–to fill the gap in private-sector lending… Ex-Im’s processes for determining credit subsidy costs, loss reserves and allowances, and fees account for multiple risks… . Opportunities exist to further improve the model.
