Delegation of Authority Under Section 11 of the Export- Import Bank Reauthorization Act of 2012

President Obama delegates to the Treasury Secretary the presidential functions and authorities under Section 11 of the Export-Import Bank Reauthorization Act of 2012. The delegation requires Treasury to ensure actions remain consistent with the President's constitutional foreign affairs authority and privilege to withhold sensitive information.

Federal Register Open PDF 81 FR 14367

Impact dates

Date TBD
Publication of memorandum in Federal Register

Key directives

Delegate to Secretary of Treasury functions/authorities vested in President by section 11 of Export-Import Bank Reauthorization Act of 2012
Ensure all actions consistent with President's constitutional foreign affairs authority
Ensure all actions consistent with President's constitutional authority to withhold sensitive information
Publish memorandum in Federal Register

Who is ordered

Secretary of the Treasury · Treasury

Timeline

Immediate

Delegation of authority takes effect upon signing

Near term (90d)

Treasury Secretary assumes functions under Section 11 of the 2012 Act

Long term

Ongoing operation of Export-Import Bank authorities under Treasury leadership

Risks & tensions

Vague scope: Section 11 of the 2012 Act covers multiple presidential authorities; exact operational implications depend on statutory text not reproduced here
Conditional delegation with broad constitutional reservations may create friction between Treasury operational decisions and White House foreign policy control
Timing during 2016 election year with ongoing congressional debate over Export-Import Bank reauthorization may affect implementation