Report on EXIM Bank's Credit Guarantee Facility Program

Submitting OIG:

Short / Alternative Report Title:

Evaluation Report CGF Program

Date Issued:

Thursday, March 30, 2017

Agency Reviewed / Investigated:

Submitting OIG-Specific Report Number:

OIG-EV-17-03

Location(s):

Washington, DC

United States

Type of Report:

Inspection / Evaluation

Questioned Costs:

$5,129,245

Number of Recommendations:

View Document:

Attachment	Size
2017, Mar 30-CGF Report 033017 _Redacted.pdf	1.1 MB

Related Open Recommendations

Recommendation Number	Recommendation Status	Significant Recommendation	Additional Details
5	Open	Yes
Review and update the reachback policy for the CGF program to be consistent with actual practice and reduce the need for waivers. In reviewing and updating the reachback policy, the Bank should analyze the case-by-case determination of a reachback relative to the average policy date (i.e., operative date); consider establishing limits on the utilization of the facility for reachback transactions; set requirements for communicating analysis of reachback issues to decision makers including the Board; and establish procedures for consideration of waivers to the policy. This would include documenting the supporting evidence in the credit file.