It is the policy of the United States to foster expansion of exports of manufactured goods, agricultural products, and other goods and services, thereby contributing to the promotion and maintenance of high levels of employment and real income, a commitment to reinvestment and job creation, and the increased development of the productive resources of the United States. Any such dividends shall be deposited into the Treasury as miscellaneous receipts. Net earnings of the bank after reasonable provision for possible losses shall be used for payment of dividends on capital stock. The bank is authorized to use all of its assets and all moneys which have been or may hereafter be allocated to or borrowed by it in the exercise of its functions. Amounts received under the preceding sentence shall be credited to the fund which initially paid for such activities and shall be offset against the expenses of the Bank for such activities. Subject to regulations which the Bank shall issue pursuant to section 553 of title 5, the Bank may impose and collect reasonable fees to cover the costs of conferences and seminars sponsored by, and publications provided by, the Bank, and may accept reimbursement for travel and subsistence expenses incurred by a director, officer, or employee of the Bank, in accordance with subchapter I of chapter 57 of title 5. The Bank is authorized to publish or arrange for the publication of any documents, reports, contracts, or other material necessary in connection with or in furtherance of its objects and purposes without regard to the provisions of section 501 of title 44 whenever the Bank determines that publication in accordance with the provisions of such section would not be practicable. The bank shall be entitled to the use of the United States mails in the same manner and upon the same conditions as the executive departments of the Government. In connection with and in furtherance of its objects and purposes, the bank is authorized and empowered to do a general banking business except that of circulation to receive deposits to purchase, discount, rediscount, sell, and negotiate, with or without its endorsement or guaranty, and to guarantee notes, drafts, checks, bills of exchange, acceptances, including bankers’ acceptances, cable transfers, and other evidences of indebtedness to guarantee, insure, coinsure, and reinsure against political and credit risks of loss to purchase, sell, and guarantee securities but not to purchase with its funds any stock in any other corporation except that it may acquire any such stock through the enforcement of any lien or pledge or otherwise to satisfy a previously contracted indebtedness to it to accept bills and drafts drawn upon it to issue letters of credit to purchase and sell coin, bullion, and exchange to borrow and to lend money to perform any act herein authorized in participation with any other person, including any individual, partnership, corporation, or association to adopt, alter, and use a corporate seal, which shall be judicially noticed to sue and to be sued, to complain and to defend in any court of competent jurisdiction to represent itself or to contract for representation in all legal and arbitral proceedings outside the United States and the enumeration of the foregoing powers shall not be deemed to exclude other powers necessary to the achievement of the objects and purposes of the bank. The Bank’s objective in authorizing loans, guarantees, insurance, and credits shall be to contribute to maintaining or increasing employment of United States workers. The objects and purposes of the Bank shall be to aid in financing and to facilitate exports of goods and services, imports, and the exchange of commodities and services between the United States or any of its territories or insular possessions and any foreign country or the agencies or nationals of any such country, and in so doing to contribute to the employment of United States workers.
There is created a corporation with the name Export-Import Bank of the United States, which shall be an agency of the United States of America.
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