U.S. EXPORT-IMPORT BANK REPORT

FROM:  U.S. EXPORT-IMPORT BANK
During the first half of fiscal year 2012, Ex-Im Bank approved $10.7 billion in authorizations. This financing is supporting approximately 96,000 American jobs. Although total authorizations decreased by 18% when compared to the first half of fiscal year 2011 ($13.1 billion in FY’11 and $10.7 billion in FY’12), small business transactions went up. Ex-Im authorizations during this period included $2.1 billion for small business, which was, as a percentage of total authorizations, an increase over last year’s performance, bringing this portfolio slightly below 20% of overall activity. Additionally, we added 273 new small companies to our ranks in the first half of fiscal year 2012.Working capital loan guarantees, which primarily support small business, were the highest volume of transactions in the second quarter.

Pending our reauthorization, long-term transactions in our pipeline put Ex-Im on track for another record-setting year. In addition, small business authorizations are expected to exceed the historic high of $6 billion achieved in fiscal year 2011.

Our pipeline contains a large number of Structured/Project Finance transactions, which have longer lead times. These are primarily located in Australia, the Middle East, and North Africa with concentrations in the manufacturing and power industries.

Ex-Im transactions contributed to the increase in overall U.S. goods and services exported in February, valued at $181.2 billion. The Commerce Department reported that over the last twelve months, the U.S. exports totaled $2.134 trillion, which is the largest amount the U.S. has ever exported in one year. In support of the National Export Initiative, we are still on track to doubling exports by 2015.