This application will provide
information needed to determine comliance and creditworthiness for
transaction requests submitted to Ex-Im Bank under its long-term
guarantee and direct loan program. This form is currently used to
make a credit decision on approximately 85 export transactins per
year in divisions dealing with aircraft, structured finance, and
trade finance.
Export-Import (Ex-Im)
Bank is requesting an emergency approval for form EIB 95-10
Application for Long Term Loan or Guarantee, OMB 3048-0013, because
the Export Import Bank Reauthorization Act of 2012 has placed
additional reporting requirements on the Bank. The changes to this
form are as follows: 1. Addition of a new participant role,
Controlling Sponsor, to section 2 of the application. Section 18 of
the Export-Import Bank Reauthorization Act of 2012 prohibits Ex-Im
Bank's Board of Directors from approving "any transaction in which
a person that is a borrower or controlling sponsor, or a person
that is owned or controlled by such borrower or controlling
sponsor, is subject to sanctions under section 5(a) of the Iran
Sanctions Act.". In order for Ex-Im Bank to ensure that the Board
of Directors is in compliance with the prohibition, Ex-Im Bank
needs to be able to identify the controlling sponsor for a
transaction (Ex-Im Bank already asks on the application form who is
the borrower for the transaction). Adding this question to the
application form will allow Ex-Im Bank to identify the controlling
sponsor. 2. Replace Section 6 of the application with new language
and questions. Section 10 of the Export-Import Bank Reauthorization
Act of 2012 adds a new paragraph (h) to Section 8 of Ex-Im Bank's
Charter (12 USC 635g). The new section 8(h) of the Charter requires
the Bank to categorize the purpose of each loan and long-term
guarantee in the Bank's Annual report. The Reauthorization Act
defines the appropriate/acceptable purposes. In order to provide
this information to Congress, Ex-Im Bank needs to change the
questions it was asking on the application form to align them with
the specific purposes identified in the Act. Without this change,
Ex-Im Bank will be unable to further break down unavailability of
private sector financing into risk constraints vs. maturity
limitations. 3. Change the percents in Section 5; sub-section C and
sub-section H of the application form to indicate that Ex-Im Bank
may have the ability to finance local costs up to 30% of the net
contract price. There is an international agreement that was
reached between Ex-Im Bank and its foreign competitors that allows
Ex-Im Bank (and its competitors) to provide additional local cost
financing. This increased availability and flexibility is important
to U.S. exporters and helps enhance their competitiveness. Ex-Im
Bank would like to make this change to the guidance in the
application form to ensure customers are aware of this enhanced
support. The 60 day Federal Register Notice should be published
Wednesday, September 12, 2012. Lack of an emergency approval of
this form would preclude our ability to continue operation of its
long-term programs. Accordingly, Ex-Im Bank requests emergency
approval of EIB 95-10 in order to continue operation of these
important export programs.
Export-Import (Ex-Im) Bank is
requesting an emergency approval for form EIB 95-10 Application for
Long Term Loan or Guarantee, OMB 3048-0013, because the Export
Import Bank Reauthorization Act of 2012 has placed additional
reporting requirements on the Bank.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.
Form EIB 95-10 Export-Import Bank of the U.S. Long-Term Preliminary Commitment and Final Commitment Application
Supporting Statement EIB 95-10 9-4-12.doc
Export-Import Bank of the U.S. Long-Term Preliminary Commitment and Final Commitment Application