Facebook pixel

Summary of the Meeting of the Board of Directors

Tuesday, September 8, 2020
 
Completed

VIA TELECONFERENCE

  1. OPEN: None
  2. CLOSED:
    BUSINESS CREDIT DIVISION
    1. Working Capital / Guarantee – AP089389XX
      Obligors: United States Steel Corp
      Products: Iron Ore Pellets
      NAC Review: 08-07-20
      Congressional Review - Expiry Date: 09-05-20
      Decision Required: Approval
      Mario A. Ramirez – Loan Officer and Director
      Nicole Wharton – Counsel
      Stephen M. Renna – Chief Banking Officer

    2. Working Capital / Supply Chain Finance Guarantee – AP089384XX
      Obligors: United States Steel Corp
      Products: Steel and Iron Ore Pellets
      NAC Review: 08-07-20
      Congressional Review - Expiry Date: 09-05-20
      Decision Required: Approval
      Mario A. Ramirez – Loan Officer and Director
      Ifeanyichukwu Egbuniwe – Counsel
      Stephen M. Renna – Chief Banking Officer

      EXPORT CREDIT INSURANCE DIVISION
    3. IRAQ: Special Delegated Authority / Policy Number: ELC-154245; Various
      Obligor: Trade Bank of Iraq
      End User(s): Grain Board of Iraq; Various
      Exporter(s): Archer-Daniels Midland; Cargill, Inc.;
      The Anderson Trade Group; Various
      Insured(s): JPMorgan Chase Bank, N.A.; and other ELC policy holders
      Broker: Export Insurance Agency, Inc., Walpole, MA; Various Others
      Products: Bulk agricultural wheat and rice; Various other products and services
      NAC Review: 08-12-20
      Congressional Review - Expiry Date: 09-08-20
      See addendum and Resolution of Special Delegation of Authority for Trade Bank of Iraq Short Term Insurance Transactions
      Decision Required: Approval
      Alyson Young – Sr. Loan Officer
      Amy Shinkman – Vice President
      ames Burrows – Senior Vice President
      Ifeanyichukwu Egbuniwe – Counsel
      Ignacio Diaz – Financial Economist
      Stephen Renna – Chief Banking Officer

CERTIFICATION FOR CLOSURE OF MEETING

I, Andrea Q. Bernardo, Assistant General Counsel for Administration, hereby certify that in my opinion the Meeting of the Board of Directors scheduled for 1:00 PM on Tuesday, September 8, 2020 via teleconference will disclose information of the kind set forth in Subsection (4) of Section 552b(c), Title 5 of the United States Code.

Accordingly, such meeting may be closed to the public.

Andrea Q. Bernardo
Assistant General Counsel

Date Posted: Tuesday, September 1, 2020

EXPORT-IMPORT BANK OF THE UNITED STATES
SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS
SEPTEMBER 8 (PM), 2020

ITEM NO. 1      Working Capital / Guarantee – AP089389XX
Obligors: United States Steel Corp
Products: Iron Ore Pellets
Review Required:  NAC reviewed on 08-07-2020
Congressional Expiry Date 09-05-2020
Board Decision:  APPROVED.   Chairman Reed, Director Bachus and Director Pryor all voted in favor of the recommendation.

ITEM NO. 2      Working Capital / Supply Chain Finance Guarantee – AP089384XX
Obligors:  United States Steel Corp
Products:  Steel and Iron Ore Pellets
Review Required:  NAC reviewed on 08-07-2020
Congressional Expiry Date 09-05-2020
Board Decision:  APPROVED.   Chairman Reed, Director Bachus and Director Pryor all voted in favor of the recommendation.

ITEM NO. 3      Special Delegated Authority / Policy Number: ELC-154245; Various
Obligor:  Trade Bank of Iraq
End User(s):  Grain Board of Iraq; Various
Exporter(s):  Archer-Daniels Midland, Cargill, Inc., The Anderson Trade Group; Various
Insured(s):  JPMorgan Chase Bank, N.A.; and other ELC Policy Holders
Broker:  Export Insurance Agency, Inc., Walpole, MA; Various; Others
Products:  Bulk agricultural wheat, rice, various other products & services
Review Required:  NAC reviewed on 08-12-2020
Congressional Expiry Date 09-08-2020
Board Decision:  APPROVED.   Chairman Reed, Director Bachus and Director Pryor all voted in favor of the recommendation.