Sec. 51001. REDUCTION IN AUTHORIZED AMOUNT OF OUTSTANDING LOANS, GUARANTEES, AND INSURANCE
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## SEC. 51001 REDUCTION IN AUTHORIZED AMOUNT OF OUTSTANDING LOANS, GUARANTEES, AND INSURANCE Section 6(a) of the Export-Import Bank Act of 1945 (12 U.S.C. 635e(a)) is amended— ####
(1)by redesignating paragraph
(3)as paragraph (4); and ####
(2)by striking paragraph
(2)and inserting the following: > > #### “(2) Applicable amount defined > > In this subsection, the term ‘applicable amount’, for each of fiscal years 2015 through 2019, means $135,000,000,000. > > > #### “(3) Freezing of lending cap if default rate is 2 percent or more > > If the rate calculated under section 8(g)(1) is 2 percent or more for a quarter, the Bank may not exceed the amount of loans, guarantees, and insurance outstanding on the last day of that quarter until the rate calculated under section 8(g)(1) is less than 2 percent.” > .
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Sec. 51001
REDUCTION IN AUTHORIZED AMOUNT OF OUTSTANDING LOANS, GUARANTEES, AND INSURANCE
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