Facebook pixel

Summary of the Meeting of the Board of Directors

Thursday, September 30, 2021
 
Completed

VIA TELECONFERENCE

  1. OPEN:
    1. OFFICE OF RISK MANAGEMENT
      Review of the Long-term High-Risk Policy (LTHR)
      Miller

  2. CLOSED: None
Date Posted: Thursday, September 16, 2021

EXPORT-IMPORT BANK OF THE UNITED STATES
SUMMARY OF MINUTES OF THE OPEN MEETING OF BOARD OF DIRECTORS
SEPTEMBER 30, 2021

ITEM NO. 1
 
OFFICE OF RISK MANAGEMENT
Review of the Long-term High-Risk Policy (LTHR)
The presentation reflected a required Board review of EXIM’s Long-term High-Risk (LTHR) Policy as a governance feature of the policy, in light of a key risk target within the policy (EXIM Bank’s default rate exceeding 1.5%) being breached. CPC / OCRO recommended that policy remains unchanged at this time considering that 1) the LTHR policy is not a contributing factor to the rise in the Bank’s default rate, 2) the LTHR policy permits EXIM to be more competitive with China and other foreign competitors and 3) there will be another review of the LTHR policy in early 2022.
Board Decision: APPROVED.  Acting Chair Burrows, Acting Vice Chair Cruse, and Director Bachus all voted in favor of the recommendation.