ABA, BAFT Welcome House Vote to Reauthorize Ex-Im Bank

The House yesterday voted 313-118 to reauthorize the Export-Import Bank of the United States, whose authority to conduct new business lapsed in June. ABA and its trade finance subsidiary BAFT have advocated strongly to revive Ex-Im and encouraged the Senate to act swiftly to reauthorize the bank.

BAFT President and CEO Tod Burwell described the vote as an “important step toward reauthorizing an institution that plays a crucial role in boosting U.S. exports and supporting our economy,” adding that “many lenders turn to Ex-Im to add balance sheet capacity and to provide viable financing solutions for their corporate customers. It’s clear that the private sector can’t fill the void in export financing for American companies without Ex-Im.”