ICYMI: Even In Borrower Bankruptcy, Ex-Im Has Strong Protections In Place
In sworn testimony to the House Financial Services Committee, Ex-Im’s Deputy Inspector General Michael McCarthy reminded lawmakers of the risk measures in place protecting taxpayers even in the rare event of borrower bankruptcy, “One of the requirements is that the Bank can’t be a subordinate lender and is first in line [to recover any losses.]”
Combined with Ex-Im’s low default rate and large supply of loan loss reserves, Ex-Im is able to support American jobs at very little risk to taxpayers.
Below are specific data points on the strength of Ex-Im’s financial risk metrics. Please let me know if I can be of additional assistance.