Appendix A. Summary of Operations of Export-Import Bank During 6 B. Export-Import Bank Operations, by Countries and Areas... Page 21 22-25 Argentina... Bolivia. Brazil. Chile.. Colombia.. Costa Rica. Cuba.... Ecuador.. Haiti. Mexico. Nicaragua. Panama. Paraguay. Peru... Salvador.. Uruguay.. Venezuela. Miscellaneous Latin America. Asia: Afghanistan. China .. Indonesia. Iran... Israel. Japan.. Philippine Islands.. Saudi Arabia... Thailand. Turkey.. Europe: Austria. Belgium. Denmark. Finland.. France... Germany, Western Greece.. Italy... Netherlands. Norway. Poland. Spain.. Yugoslavia. Canada.... Africa: Egypt.. Ethiopia. Liberia.. Portuguese East Africa.. Portuguese West Africa Union of South Africa. Australia: South Australia... Special Exporter-Importer Credits. Summary... D. Transactions With Commercial Banks as of June 30, 1953, E. Statement of Principal and Interest Due by Calendar Years, on I. Section 111 (c) (2) of the Economic Cooperation Act of 1948, as Amended. ... 71 J. Statement of Operations as of June 30, 1953, Under the Economic Cooperation Act of 1948, as Amended. 73 Loans and Credits Guaranties... 73 K. Section 302 of the Defense Production Act of 1950, as Amended, and Section 311 of Executive Order No. 10161 of September 9, 1950, as Amended. . . . . . L. Statement of Loans and Authorized Credits Certified by Defense Production Administration and Defense Materials Procurement Agency as of June 30, 1953.... 77 78 Sixteenth Semiannual Report to the Congress CHAPTER I General Review Financial The Board of Directors of the Export-Import Bank authorized new credits amounting to $387 million during the 6 months ended June 30, 1953, and allocated approximately $28 million to specific projects from credits authorized in prior periods. The Bank disbursed $222.7 million in accordance with loan authorizations, and received principal repayments of $171.9 million and interest payments of $37.5 million. Disbursements during the entire fiscal year were $516 million, repayment on principal $357.9 million and interest earnings $75.8 million. Net profit of the Bank for the 6 months under review was $25.7 million. This profit figure was arrived at by deducting from gross interest earnings of $37.5 million for the 6 months' period operating expenses of $521,000 and interest of $11.2 million paid on funds borrowed from the Treasury of the United States. Net profit for the fiscal year ended June 30, 1953 was $51.8 million. Out of this net profit the Bank declared at the end of the fiscal year a dividend of $22.5 million on the capital stock of $1 billion, which is held by the Treasury of the United States. This dividend exceeds by $2.5 million the annual dividends paid in previous years. The remainder of the net profit, amounting to $29.3 million, was added to the reserve for possible losses which has been accumulated from past earnings. This reserve amounted to $295.6 million on June 30, 1953. Treasury during the fiscal year ended June 30, 1953. The interest rates on new borrowings during the year were 2 percent per annum through February 28, and 2% percent per annum from March 1 to June 30, 1953. CHART 1.-APPLICATION OF GROSS FISCAL YEAR INCOME (JULY 1, 1952 THROUGH JUNE 30, 1953) A detailed statement of condition of the Bank as of June 30, 1953, is given in appendix F. A comparative statement of income and expenses for the 6-month periods ended December 31, 1952 and June 30, 1953, is given in appendix G. The credits authorized during the 6 months ended June 30, 1953, brought the new credits authorized during the fiscal year |