Sec. 4. Suspension of loan authority under the Program on China and Transformational Exports while default rate is excessive
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Section 2(l) of the Export-Import Bank Act of 1945 ( 12 U.S.C. 635(l) ) is amended by adding at the end the following: If the rate calculated under section 8(g)(1) with respect to loans under section 2(l) is 5 percent or more for a quarter, the Bank may not exceed the amount of loans under such section that are outstanding on the last day of that quarter until the rate calculated under section 8(g)(1) with respect to loans under such section is less than 5 percent. . Section 6(a)(3) of such Act ( 12 U.S.C. 635e(a)(3) ) is amended by adding at the end the following:
If the rate calculated under section 8(g)(1) with respect to loans under section 2(l) is 2 percent or more for a quarter, then loans under section 2(l) shall not be taken into account for the quarter for purposes of this paragraph. .
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Sec. 4
Suspension of loan authority under the Program on China and Transformational Exports while default rate is excessive
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