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US Ex-Im Bank unable to approve loans as charter lapses

Lapse may be temporary as Congress may consider re-authorising the institution next month

Published Tue, Jun 30, 2015 · 09:50 PM
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Washington

US exporters including Boeing Co and General Electric Co won't be able to obtain new financing for overseas deals from the US Export-Import Bank (Ex-Im) starting Wednesday.

The lapse in the charter may be temporary as Congress, which let the charter lapse last week, may consider re-authorising Ex-Im next month. The 81-year-old institution provides financing arrangements that help US companies compete for overseas sales.

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