"The Export-Import Bank of the United States (Ex-Im Bank or the Bank), an independent federal government agency, is the official export credit agency (ECA) of the United States. It operates under a renewable charter, the Export-Import Bank Act of 1945 (P.L. 79-173), as amended. Ex-Im Bank helps finance U.S. exports of manufactured goods and services, with the objective of contributing to U.S. employment, in circumstances when alternative financing is not available or to assist U.S. exporters to meet foreign, government-backed sponsored, export credit competition. Its main programs are direct loans, loan guarantees, working capital finance, and export credit insurance. Its transactions are backed by the full faith and credit of the U.S. government. Legislation was enacted in the 112th Congress to extend Ex-Im Bank's authority through the close of business on September 30, 2014 (P.L. 112-122) and to raise its exposure cap (total amount of outstanding credit and insurance authority) to $140 billion by FY2014. Currently, Congress is debating whether to renew Ex-Im Bank's authority and, if so, for how long and under what terms."
CRS Report for Congress, R43581