Claims Procedures of Export-Import Bank of the United States

ID-80-35: Published: Mar 28, 1980. Publicly Released: Mar 28, 1980.

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Pursuant to a congressional request, an investigation was made into allegations of irregularities and conflicts of interest involving claim payments at the Export-Import Bank. The investigation was made as part of the GAO audit of the Bank's financial statements for fiscal year 1979 and included an analysis of the Bank's procedures for reviewing and processing filed claims and a test of selected claims to assure that the procedures were followed.

Since the Bank's inception, claimants have filed $182.2 million in claims. As of January 31, 1980, the Bank approved payment for $119.6 million in filed claims. Of the remaining $65.6 million, $32.1 million was still being processed or had been discontinued pending the outcome of other efforts by the claimants to obtain payment from the obligators, $31.1 million was withdrawn by the claimants, and $2.4 million was denied by the Bank. The review disclosed no indications of irregularities or conflicts of interest.

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