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Exclusive: Ex-Im Bank reviews "take out" option
07 October 2011
Volatile markets push US Ex-Im Bank to reconsider buying up aircraft loans from struggling banks at par value.
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US Ex-Im Bank
take out option
export credit
US Ex-Im Bank is reviewing its "take out" option for export credit loans, says a source familiar with the review process.
The additional guarantee, which has been available since 2009, was introduced during the financial crisis to drive down the cost of Ex-Im financing. The product allows banks to sell Ex-Im guaranteed loans to Ex-Im Bank at par if there are significant changes in their credit spreads and funding costs, or in the overall market.
But high dollar funding costs, especially for French banks, have increased the likelihood of...
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