Intermediate Export Credit Guarantee Program: Difference between revisions
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{{Short description|Agriculture CCC intermediate program}} |
{{More citations needed|date=June 2022}}{{Short description|Agriculture CCC intermediate program}} |
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The '''Intermediate Export Credit Guarantee Program''' (GSM-103) is one of the [[Commodity Credit Corporation]] (CCC) [[Export Credit Guarantee]] programs. |
The '''Intermediate Export Credit Guarantee Program''' (GSM-103) is one of the [[Commodity Credit Corporation]] (CCC) [[Export Credit Guarantee]] programs. |
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Latest revision as of 10:03, 27 June 2022
 | This article needs additional citations for verification. (June 2022) |
The Intermediate Export Credit Guarantee Program (GSM-103) is one of the Commodity Credit Corporation (CCC) Export Credit Guarantee programs.
While the Export Credit Guarantee Program (GSM-102) guarantees credit terms up to 3 years, the Intermediate Export Credit Guarantee Program (GSM-103) guarantees longer term credits up to 10 years. Under these programs, the CCC guarantees payments due from foreign banks—typically, 98% of principal and a portion of interest at an adjustable rate. Because repayment is guaranteed, U.S. financial institutions can offer credit on competitive terms to foreign banks, usually with interest rates based on the LIBOR. (GSM-102/103).
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This article incorporates public domain material from Jasper Womach. Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition (PDF). Congressional Research Service.
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