Caption: 1953: Hawthorne Arey writes the first detailed history of the agency. The image above is of the front cover. Please contact the library to read a copy of the complete 154-page report.

Ex-Im Bank History By Month: November

1940: As part of a mandate by Congress to “assist in the development of resources, the stabilization of the economies . . . of the Western Hemisphere”*, Ex-Im Bank authorizes $25 million toward the construction of a large steel mill in Brazil at Volta Redonda. The agreement is considered by Ex-Im Bank as one of the agency’s historically significant transactions.

1953: In the midst of a detailed investigation of Ex-Im Bank’s operations by the Senate Committee on Banking and Currency, assistant director Hawthorne Arey, writes a report to the Committee that becomes the first detailed history of the agency, History of Operations and Policies of Export-Import Bank of Washington.

1954: In response to recommendations by the Senate Committee on Banking and Currency, led by Senator Capehart, to increase exporter credits, Ex-Im Bank announces a new program to provide lines of credit to exporters. Under the new program, exporters are able to finance a series of foreign sales with one credit instead of separate transactions.

Chairmen, Presidents and Directors Sworn-In in November:
1954: Vance Brand, Director
1977: Donald E. Stingel, Director
1986: Simon C. Fireman, Director
1993: Martin A. Kamarck, Vice Chairman
1999: Dan Renberg, Director
1999: Dorian Vanessa Weaver, Director
 
*Public Law 792, 76th Congess, approved September 26, 1940.

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