Page:United States Statutes at Large Volume 106 Part 3.djvu/399
PUBLIC LAW 102-429—OCT. 21, 1992 106 STAT. 2193 "(d) DEPOSIT OF PROCEEDS. —The proceeds from the sale, reduction, or cancellation of any loan sold, reduced, or canceled pursuant to this section shall be deposited in the United States Government account or accounts established for the repayment of such loan. "(e) ELIGIBLE PURCHASERS. —^A loan may be sold pursuant to subsection (c)(1)(A) only to a purchaser who presents plans satisfactory to the President for using the loan for the purpose of engaging in debt-for-equity swaps, debt-for-development swaps, or debt-fornature swaps. "(f) DEBTOR CONSULTATION.— Before the sale to any eligible President, purchaser, or any reduction or cancellation pursuant to this section, of any loan made to an eligible country, the President shall consult with the country concerning the amount of loans to be sold, reduced, or canceled and their uses for debt-for-equity swaps, debt-for-development swaps, or debt-for-nature swaps. "(g) AUTHORIZATION OF APPROPRIATIONS.— For the sale, reduction, and cancellation of loans or portions thereof pursuant to this section, there are authorized to be appropriated to the President such sums as may be necessary, which are authorized to remain available until expended.". SEC. 109. INCREASE IN AGGREGATE LOAN, GUARANTEE, AND INSUR- ANCE AUTHORITY. (a) FEES AND PREMIUMS.—Section 2(c)(1) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(c)(1)) is amended to read as follows: "(1) The Bank shall charge fees and premiums commensurate, in the judgment of the Bank, with risks covered in connection with the contractual liability that the Bank incurs for guarantees, insurance, coinsurance, and reinsurance against political and credit risks of loss.". (b) AGGREGATE AUTHORITY.— Section 7 of the Export-Import Bank Act of 1945 (12 U.S.C. 635e) is amended— (1) by striking "SEC. 7. (a)(1)" and inserting the following! "SEC. 7. AGGREGATE LOAN, GUARANTEE, AND INSURANCE AUTHORITY. " (a) LIMITATION ON OUTSTANDING AMOUNTS. — "; (2) in subsection (a)— (A) by striking paragraph (3); and (B) by striking "$40,000,000,000" and inserting "$75,000,000,000"; and (3) in subsection (a)(2)— (A) by striking "(2)(A)(i)" and inserting the following: " (b) PRESIDENTIAL DETERMINATION.— "(1) IN GENERAL.—"; (B) by striking "(I)" and inserting "(A)"; (C) by striking "(II)" and inserting "(B)"; (D) by striking "(III)" and inserting "(C)"; (E) by striking "(ii) Not later than" and inserting the following: "(2) REPORT. — Not later than"; (F) by striking "(B)(i)" and inserting the following: "(3) REQUEST FOR LEGISLATION. — "(A) IN GENERAL.— "; and (G) by striking "(ii)" and inserting the following: "(B) CONTINUED AVAILABILITY OF AUTHORITY.— ".