FOR IMMEDIATE RELEASE March 7, 2010
Marianna Ohe (202-565-3200)
WASHINGTON, D.C. - U.S. Treasury Secretary Tim Geithner will be a keynote guest at the Export-Import Bank of the United States (Ex-Im Bank) 2010 Annual Conference on March 11-12 in Washington, D.C. The theme of the conference is Powering Jobs, Sales and Profits through Exports.
Secretary Geithner's presence at the Ex-Im Bank Annual Conference is another indication of the importance of exports to our country's economic vitality, said Ex-Im Bank Chairman and President Fred P. Hochberg. As a key member of the President's economic team, he knows the critical role exports play in creating new American jobs and maintaining our global competitiveness.
Secretary Geithner will participate in a keynote conversation with Chairman Hochberg on the second day of the conference, Friday, March 12.
He was sworn in as the 75th Secretary of the U.S. Treasury in January 2009. Before his nomination he served as president and chief executive officer of the Federal Reserve Bank of New York, where he began in 2003. In that capacity, he served as the vice chairman and a permanent member of the Federal Open Market Committee, the group responsible for formulating the nation's monetary policy.
Prior to joining the Federal Reserve, Secretary Geithner served in the Treasury Department in three administrations for five Treasury secretaries in a variety of positions.
The Ex-Im Bank conference will be held at the Omni Shoreham Hotel and will be attended by more than 1,000 U.S. exporters, domestic and international lenders, brokers, and foreign buyers and government representatives.
Ex-Im Bank, an independent, self-sustaining federal government agency, exists to fill gaps in export financing, to strengthen U.S. export competitiveness and create and maintain U.S. jobs. The Bank provides a variety financing mechanisms including working capital guarantees to help small and medium-sized U.S. businesses, export credit insurance to protect against nonpayment by foreign buyers, and loan guarantees and direct loans to assist foreign buyers of U.S. goods and services.
In fiscal 2009, overall Ex-Im Bank financings came to $21 billion, while authorizations for small business exporters totaled $4.36 billion, both historic highs. In the first four months of fiscal 2010, the Bank authorized a record $10.9 billion in loans, guarantees, and insurance - more than three times the amount authorized in the same period of fiscal 2009.
For more information on Ex-Im Bank and the annual conference, including the current agenda, and to register online to attend, visit www.exim.gov.