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U.S. Code as of:
01/19/04
Section 635i-9. Market windows
(a) Enhanced transparency
To ensure that the Bank financing remains fully competitive, the
United States should seek enhanced transparency over the activities
of market windows in the OECD Export Credit Arrangement. If such
transparency indicates that market windows are disadvantaging
United States exporters, the United States should seek negotiations
for multilateral disciplines and transparency within the OECD
Export Credit Arrangement.
(b) Authorization
The Bank may provide financing on terms and conditions that are
inconsistent with those permitted under the OECD Export Credit
Arrangement -
(1) to match financing terms and conditions that are being
offered by market windows on terms that are inconsistent with
those permitted under the OECD Export Credit Arrangement, if -
(A) matching such terms and conditions advances the
negotiations for multilateral disciplines and transparency
within the OECD Export Credit Arrangement; or
(B) transparency verifies that the market window financing is
being offered on terms that are more favorable than the terms
and conditions that are available from private financial
markets; and
(2) when the foreign government-supported institution refuses
to provide sufficient transparency to permit the Bank to make a
determination under paragraph (1).
(c) Definition
In this section, the term "OECD" means the Organization for
Economic Cooperation and Development.
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