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12 U.S.C. 635a–7: Independent audit of bank portfolioText contains those laws in effect through Public Law 119-120 (October 7, 2026).
From Title 12-BANKS AND BANKINGCHAPTER 6A-EXPORT-IMPORT BANK OF THE UNITED STATES
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§635a–7. Independent audit of bank portfolio

(a)  Audit

The Inspector General of the Export-Import Bank of the United States shall conduct an audit or evaluation of the portfolio risk management procedures of the Bank, including a review of the implementation by the Bank of the duties assigned to the Chief Risk Officer under section 635a(l) of this title, as amended by section 51005.

(b)  Report

Not later than 1 year after December 4, 2015, and not less frequently than every 3 years thereafter, the Inspector General shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a written report containing all findings and determinations made in carrying out subsection (a).

( Pub. L. 114–94, div. E, title LI, § 51007 , Dec. 4, 2015 , 129 Stat. 1766 .)

Editorial Notes

References in Text

Section 635a(l) of this title, as amended by section 51005, referred to in subsec. (a), is section 635a(l) of this title, as amended by section 51005 of Pub. L. 114–94.

Codification

Section was enacted as part of the Fixing America’s Surface Transportation Act, also known as the FAST Act, and not as part of the Export-Import Bank Act of 1945 which comprises this subchapter.