Recapitalizing the Export-Import Bank of the U.S.:

Why It Is Necessary; How It Can Be Accomplished

T-AFMD-88-4: Published: Feb 25, 1988. Publicly Released: Feb 25, 1988.

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GAO discussed recapitalization alternatives for the Export-Import Bank of the United States (Eximbank). GAO noted that Eximbank receipts are insufficient to cover its debt, and alternatives for eliminating its debt and deficit include: (1) forgiveness of its Federal Financing Bank (FFB) debt, which would impact the FFB financial position and cause inconsistencies in the Eximbank financial statements; (2) direct appropriation of the Eximbank deficit, which would increase the overall federal budget deficit; and (3) Treasury purchases of Eximbank capital stock. GAO believes that any Eximbank recapitalization should include provisions for the maintenance of its capital position.

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