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Highlights of the EXHffll-IHPOET BANK'S HISTORY by Samuel C. ¥angh* HIBBDIffiHS CUEABIHE HOUSE* May L956> p . 38. Feb. 12, 1934* The Export-Import Bank was established to finance trade with Bwsia* Mar. 9, 1934: The Second Export-lKport Bank was established to assist Cut*Lia_a budgetary crisi July, 1934: The Second Ex-Im Bank extended its scope to a assist in financing U.S* Trade in any part of the world except Russia. June 30, 1936: The Second Ex-Im Bank was liquidated and loans were transferred to the ExportImport Bank January 1939 s Bank1 s lending authority was limited to $100 million. March 2, 1940t Tiding authority was increased to $200 million. Sept. 26, 1940* Leading authority vas increased to $700 million. July 31, 1945: Export-Import Bank Act of 1945 establishe Bank as an independent agency, increasing its lending authority to $3 1/2 billion, and placed it under management of a bipartisan Board of Directors. June 7, 1947: The Exgort-Import Bank was incorporated as a federal corporation. 0 Oct. -'J 1951. Bankfs lending authority was increased to $4 1/2 billion. Aug. 5, 1953: Reorganization Plan No. 5 became effective, abolishing the Bd. of Dirs. and placing http://fraser.stlouisfed.org/ the Bank under a Managing Director. Federal Reserve Bank of St. Louis Aug. 9, 1954* The Export-I»port Bank Act vaa amended, abolishing Jtaisaging Director, reinstating bipartisan Board of Directors, end increasing lending authority to $5 billion. PEEK, George N. Our Foreign Trade Objectives, The ^unction of The Ejiport-Import Bank. BANKING, JOURNAL OF THE ABA, January, 1935, pp. 21-23 SERVOISJ, R. La banque d*exportation e t d'importation de Washington, REVUE D'ECONOMIE POLITIQUE, May-June, 1948. pp. 53. VILLASENffiR, Eduardo The inter-American bank: prospects and dangers, FOREIGN AFFAIRS, October, 1941. Pp. 10. VAUGH, Samuel C. (Pres., Export-Import Bank The reinvigorated Export-Import Bank, BOBEDUGHS CLEAEING HOUSE, May, 1956, pp. 38-9, 94, 96, 98-101. TOUT MORE, V. D. The Work of the Export-Import Bank, in A FORUM ON FINANCE, ed. by George H. Roberts. Nev York: Columbia University Press, 1940, pp. 213-222. VHITTLESEY, Charles R. Five Years of the Export-Import Bank, AMERICAN ECOHOMIC REVIEW, XXIX, September, 1939, pp. 487-502. m Whittlesey, Charles R. Five years of the export-import bank. %Im American Economic Review,Sept.l979,p.487-5Q2) The powers of the bank are extensive but have not been fully exercised. Recently i t s operations have been strongly influenced by considerations of foreign policy. While from an economic standpoint the record of the bank has not been impressive, i t probably should be continued. Export-Import bank
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