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A single corporation created by the U.S. Treasury and the Export-Import Bank of the U.S. that facilitates funding of exports that have not been subsidized. The PEFCO does this with the purchase of loans in the secondary market from commercial lenders. The loans are then used to finance U.S. exports.
This is an interesting note as it gave-way for the emergence of the current multinationals. The Bank Export Services Act of 1982 allowed commercial banks to enter the export trading company arena for the first time and act as owners of ETCs. You can learn more about ETCs through theRead More …