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BAFT News and Press Releases

 

Statement on Ex-Im Bank Reauthorization

by Tod Burwell | Jul 01, 2015
BAFT statement from President and CEO, Tod Burwell, on Ex-Im Bank Reauthorization

          “While we are disappointed that Congress was unable to meet the congressionally imposed reauthorization deadline, BAFT looks forward to swift congressional action in July to reauthorize the Export-Import Bank of the United States. Ex-Im plays a crucial role in boosting U.S. exports and supporting our economy, and there will be a significant gap in export finance for U.S. businesses without the continued, long-term operational support of this critical institution.

          “Many lenders turn to Ex-Im to add balance sheet capacity, and provide viable financing solutions for their corporate customers.  Smaller lenders are often even more limited in their ability to engage in export financing than larger institutions.  It’s clear that the private sector can’t fill the void in export financing for American companies if Ex-Im is not reauthorized.

          “We urge Congress to reauthorize Ex-Im immediately to secure the continued availability of valuable financing for U.S. exports and to maintain U.S. competitiveness in the global marketplace.”

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About BAFT
BAFT, the leading global financial services association for international transaction banking, helps bridge solutions across financial institutions, service providers and the regulatory community that promote sound financial practices enabling innovation, efficiency, and commercial growth. BAFT engages on a wide range of topics affecting transaction banking, including trade finance, payments, and compliance. The association website is www.baft.org.