U.S. Bank Requirements

(As of December 6, 2011)

Federal regulations governing the Export Credit Guarantee Program (GSM-102), and the Facility Guarantee Program (FGP), respectively include conditions on the eligibility of financial institutions to participate as an assignee in the programs (7 C.F.R. §§ 1493.140, 1493.530, and 1493.330).

A financial institution will be ineligible under the GSM-102, and FGP to receive an assignment of proceeds which may become payable under a payment guarantee if, at the time of assignment, such financial institution:

Is not in sound financial condition, as determined by the Treasurer of CCC;
Is the financial institution issuing the letter of credit a branch, agency or subsidiary of such institution;
Is owned or controlled by an entity that owns or controls the financial institution issuing the letter of credit; or
Is the U.S. parent of the foreign bank issuing the letter of credit.

Further, on July 12, 1991, a program announcement was issued to announce that banks operating in the United States which are owned or controlled by the government of a foreign country are ineligible to receive assignments of proceeds of payment guarantees when such guarantees have been issued in connection with export sales of agricultural commodities to importers located in the
foreign country in question.

If your financial institution wishes to participate in the GSM-102, you must provide to CCC the following information:

A statement listing the individuals that own or control 5 percent or more of your financial institution. This statement must show the respective direct or indirect interest, and how the individual controls the financial institution, if applicable;
Documentation from the applicable United States Federal or State agency demonstrating that the financial institution is either chartered or licensed to do business in the United States;
The name and telephone number of the primary contact at the bank regulator; and
Copy of your most recent annual report including audited financial statements.

Please forward this information to the following address by mail:

Address for documents sent via courier:	Address for documents sent via postal mail:
USDA/FAS/OTP/CPD/Risk and Asset Management ATTN: Teri Ryan 1400 Independence Ave., SW Room 5509 Washington, DC 20250	USDA/FAS/OTP/CPD/Risk and Asset Management ATTN: Teri Ryan 1400 Independence Ave., SW Stop 1025 Washington, DC 20250-1025

Please conform all assignment notifications with the enclosed sample assignment notification. Please make sure all appropriate personnel, departments, branches, agencies, and affiliates of your bank are aware of the regulations referenced above. If you have any questions about this request, please e-mail Rita Carleton phone number (202) 720-9357; Nestor Gregory phone number: (202) 720-9843; Michael Smith phone number: (202) 720-1282; Hal Taylor phone number: (202) 690-1267; Eli Fleminger phone number: (202) 401-2575; Miguel Parkins phone number: (202) 720-3092; Scott Kim phone number: (202) 401-0218; Tim Hunt phone number (202) 720-1376; Michelle Zissimos phone number: (202) 690-1249; or Teri Ryan phone number (202) 720-0663. Please send faxes to (202) 401-0114.