12 U.S.C. § 635d : US Code - Section 635D: Issuance of debentures, bonds, etc.; obligations redeemable; payment of interest; obligations purchasable by Secretary of the Treasury; public-debt transactions

Search 12 U.S.C. § 635d : US Code - Section 635D: Issuance of debentures, bonds, etc.; obligations redeemable; payment of interest; obligations purchasable by Secretary of the Treasury; public-debt transactions

The Export-Import Bank of the United States is authorized to
issue from time to time for purchase by the Secretary of the
Treasury its notes, debentures, bonds, or other obligations; but
the aggregate amount of such obligations outstanding at any one
time shall not exceed $6,000,000,000. Such obligations shall be
redeemable at the option of the bank before maturity in such manner
as may be stipulated in such obligations and shall have such
maturity as may be determined by the Board of Directors of the bank
with the approval of the Secretary of the Treasury. Each such Bank
obligation issued to the Treasury after January 4, 1975, shall bear
interest at a rate not less than the current average yield on
outstanding marketable obligations of the United States of
comparable maturity during the month preceding the issuance of the
obligation of the Bank as determined by the Secretary of the
Treasury. The Secretary of the Treasury is authorized and directed
to purchase any obligations of the Bank issued hereunder and for
such purpose the Secretary of the Treasury is authorized to use as
a public-debt transaction the proceeds of any securities issued
after July 31, 1945, under chapter 31 of title 31, and the purposes
for which securities may be issued under that chapter are extended
to include such purpose. Payment under this section of the purchase
price of such obligations of the Bank and repayments thereof by the
Bank shall be treated as public-debt transactions of the United
States.