Posted On: 04/28/2016 3:20:27 PM
Post# of 22940
Re: CountryMac #7256
EX-IM opposition: I believe the keys to why this is important to us are in this re-authorization letter http://www.exim.gov/reauthorization
Any loans totalling more than $10M must be approved by the EX-IM Board of Directors, who must each individually be confirmed by the U.S. Senate. Unless there is a quorum of Directors, no decision can be made on loans in excess of $10M. If Senators oppose the appointments, we can be held up until there is a quorum established.
As a side note, this is one of the reasons why I've repeatedly said we should shoot for a more modest $10M to start -- it's easier to approve.
Any loans totalling more than $10M must be approved by the EX-IM Board of Directors, who must each individually be confirmed by the U.S. Senate. Unless there is a quorum of Directors, no decision can be made on loans in excess of $10M. If Senators oppose the appointments, we can be held up until there is a quorum established.
As a side note, this is one of the reasons why I've repeatedly said we should shoot for a more modest $10M to start -- it's easier to approve.
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