Summary of the Meeting of the Board of Directors

December 22, 2020 December 31, 1969

Completed

VIA TELECONFERENCE

  1. OPEN:

    1. OFFICE OF RISK MANAGEMENT
      Credit Risk Appetite - Linkage to the Budget Cost Level
      Review Required: None
      Decision Required: Approval
      Kenneth Tinsley - Senior Vice President and Chief Risk Officer

  2. CLOSED:
    1. Minutes of December 16, 2020 Board Meeting for approval
    2. Minutes of December 17, 2020 Board Meeting for approval

      OFFICE OF RISK MANAGEMENT

    3. Credit Risk Appetite - Criteria for Budget Cost Level 8-11 Cover Policy Initiative (Addendum)
      Review Required: None
      Decision Required: Approval
      Aryam Vazquez - Chief Economist

    4. WITHDRAWN
      Country Review - Country Limitations Schedule Cover Policy and Note Changes Review
      Review Required: None
      Decision Required: Approval
      Ignacio Diaz - Financial Economist

Certification for Closure of Meeting

I, Andrea Q. Bernardo, Assistant General Counsel for Administration, hereby certify that in my opinion the Meeting of the Board of Directors scheduled for 10:00 AM on Tuesday, December 22, 2020 via teleconference will disclose information of the kind set forth in Subsection (4) of Section 552b(c), Title 5 of the United States Code.

Accordingly, such meeting, except Item No. 1 may be closed to the public.

Andrea Q. Bernardo
Assistant General Counsel

Date Posted

EXPORT-IMPORT BANK OF THE UNITED STATES
SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS
DECEMBER 22, 2020

ITEM NO. 1
Credit Risk Appetite - Linkage to the Budget Cost Level. Recommendation for the implementation of a Long-term High Risk BCL (LTHR) Policy pursuant to which a certain high risk BCL rating would be the starting point for the Country Risk and Economic Analysis Division (CREA) to identify and recommend the markets to remain open for a modest amount of long-term (LT) business instead of the current cover policy of closing automatically. An additional recommendation was to expand the availability of the Short-term Africa Risk (STAR) Policy to all markets and thus create the Short-term Only Risk (STOR) policy.
Board Decision: APPROVED. Chairman Reed, Director Bachus and Director Pryor all voted in favor of the Recommendation.

ITEM NO. 2
Approval of the Minutes of the December 16, 2020 Board Meeting
Board Decision: APPROVED. Chairman Reed, Director Bachus and Director Pryor all voted in favor of the minutes.

ITEM NO. 3
Approval of the Minutes of the December 10, 2020 Board Meeting
Board Decision: APPROVED. Chairman Reed, Director Bachus and Director Pryor all voted in favor of the minutes.

ITEM NO. 4
Credit Risk Appetite - Criteria for Budget Cost Level 8-11 Cover Policy Initiative (Addendum). Recommendation for implementation of the long-term high risk BCL 8 (LTHR) and the short term only risk (STOR) initiatives and related CLS note changes and recommendation to apply the new notes to individual countries based on such LTHR criteria.
Board Decision: APPROVED. Chairman Reed, Director Bachus and Director Pryor all voted in favor of the Recommendation.

ITEM NO. 5
WITHDRAWN