A Risk Management Committee would be established, and a Chief Risk Officer position would be created -- both of which would provide oversight of the Bank’s operations. Also, a Chief Ethics Officer would oversee ethics practices among Bank employees.
The Bank’s lending cap would be reduced from $140 billion to $135 billion, and the minimum share of small business-related activity would rise from 20 percent to 25 percent. There would be independent audits of the Bank’s portfolio, and the Bank would be required to increases its reserves held for losses.
Any profits generated by the bank’s lending activities would be returned to the Department of the Treasury to be used in deficit reduction.
Officials at the Ex-Im Bank would be prohibited from discriminating against any energy source in the course of their work -- including coal. This provision negates existing policies that had been adopted to prevent the financing of overseas power plants that don’t adopt greener technologies.
The Treasury Secretary and the President would be directed to enter into international negotiations to eliminate export credit financing within 10 years of this bill’s enactment.