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Public Statements

Export-Import Bank Reauthorization Act of 2012--Continued

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. CORKER. Mr. President, the most important thing this amendment does is establish capital in the Ex-Im Bank. Right now the way the Ex-Im Bank is set up, there is over $1 billion worth of capital against $140 billion in loans. That is a leverage ratio of 140 to 1.

This body spent a tremendous amount of time in a bipartisan way to make sure the financial institutions of our country had proper capital ratios. This amendment establishes a 10-percent capital reserve for the Ex-Im Bank. By their definition these loans are more risky than the private sector would make, and that is why the sponsors are trying to extend the Ex-Im Bank.

As a responsible body, the very least we can do is to cause them to have the appropriate capital reserved against the loans they are making which are more risky by definition than the private sector loans.

I hope this will receive a strong bipartisan vote. My guess is the House will take this almost in unanimous consent.

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