January 21, 2020

Great News for U.S. Exporters!

Happy New Year! We hope that your 2020 is off to a tremendous start! In case you missed EXIM Bank's announcement just before the holidays, we wanted to share this long-awaited good news with you. On December 21st, Congress approved bipartisan legislation to reauthorize EXIM's charter for seven years, which is the longest reauthorization period in their 85- year history! Prior to December, EXIM Bank had been operating under a continuing resolution because their prior charter had expired September 30th. Please see the full press release here. Now that EXIM Bank has both a fully-functioning board and an extended charter in place, our hope is that this new-found stability will spur initiatives to further enhance their support of U.S. exporters and banks!

If you have any questions about this announcement or want to explore EXIM's program offerings now that they are officially "back in business" for the long-haul, please don't hesitate to contact us. We are here to assist with both your EXIM Bank and private trade credit insurance needs. Thanks!

EXIM's Updated Country Limitation Schedule (CLS)

Another update you may have missed in late December was EXIM's newly released CLS. Most notably, EXIM Bank has closed for support to the country of Nicaragua.

To see the SPECIFIC CHANGES to the CLS, click here.

  • Policy-level Country Coverage updates include: Lesotho, Nicaragua and Pakistan.

  • Note-level changes for 11 countries.

The current version of the CLS can be accessed via this link: https://www.exim.gov/tools-for-exporters/country-limitation-schedule

The CLS indicates where EXIM Bank is "open for cover" and where EXIM Bank is "off-cover." The "open for cover" designation refers to the possibility, rather than the certainty, of EXIM Bank support in particular cases. Where the CLS presents an "X," EXIM Bank is "off-cover" and is therefore not willing to consider approval of routine transactions. These "off-cover" determinations are due to economic and/or political risks associated with the country.

As always, we value our relationship with you. If we can be of assistance in any way, please let us know.

The TAG Team
Leslie, Jackie, Bruce, Mason, Mary Lynn and Andrew