ExIm Bank needed now more than ever Rice University expert says

first_imgAddThis ShareEXPERT ALERTDavid [email protected] [email protected] Bank needed now more than ever, Rice University expert saysHOUSTON – (April 15, 2015) – The House Financial Services Committee will hold a hearing today on reauthorizing the Export-Import Bank (Ex-Im), which works to increase U.S. trade by financing projects to stimulate exports and jobs.WILLIAM ARNOLDThe bank has faced congressional scrutiny in recent years and will shut down June 30 unless Congress reauthorizes its charter. William Arnold, professor in the practice of management at Rice’s Jones Graduate School of Business, said the 80-year-old export credit agency is needed now more than ever. The bank was organized by Houstonian Jesse Jones during the Great Depression.“American banks are more constrained than ever and are less capable than previously to support American exports, especially for smaller exporters that provide job growth,” said Arnold, who served as senior vice president of Ex-Im during the final five years of the Reagan-Bush administration.“Ex-Im can take on a different risk profile than private lenders,” Arnold said. “If a country or official entity defaults to Ex-Im, credit is cut off by other export credit agencies, the World Bank and IMF. This brings them into compliance effectively under formal rescheduling arrangements. For private lenders the process is excruciatingly difficult and slow.”To schedule an interview with Arnold, contact Jeff Falk, associate director of national media relations at Rice, at [email protected] or 713-348-6775.-30-Follow the Jones Graduate School of Business on Twitter @RiceMBA.Follow Rice News and Media Relations on Twitter @RiceUNews.Related materials:Arnold bio: http://business.rice.edu/Bill_Arnold.Jones Graduate School of Business: http://business.rice.edu.Located on a 300-acre forested campus in Houston, Rice University is consistently ranked among the nation’s top 20 universities by U.S. News & World Report. Rice has highly respected schools of Architecture, Business, Continuing Studies, Engineering, Humanities, Music, Natural Sciences and Social Sciences and is home to the Baker Institute for Public Policy. With 3,888 undergraduates and 2,610 graduate students, Rice’s undergraduate student-to-faculty ratio is 6-to-1. Its residential college system builds close-knit communities and lifelong friendships, just one reason why Rice is ranked among some of the top schools for best quality of life by the Princeton Review and for best value among private universities by Kiplinger’s Personal Finance. To read “What they’re saying about Rice,” click here.last_img read more