CHICAGO, October 22 – The American Financial Exchange (AFX), a self-regulated exchange that provides banks and financial institutions a marketplace for overnight unsecured interbank lending and borrowing, announced today that it has partnered with the Export-Import Bank (EXIM), the official export credit agency of the United States.
Together, the two organizations will support the underserved customers of America’s often overlooked financial institutions, particularly the community and regional banks that comprise the backbone of the U.S. financial system. More specifically, AFX will introduce its member banks to EXIM’s programs and solutions that are designed to promote and expand businesses across the United States.
AFX CEO, John Shay, commented on the announcement saying: “We are excited to partner with EXIM. Similar to AMERIBOR, which offers a more advantageous credit-sensitive rate for America’s community and regional banks, EXIM supports American businesses that private sector lenders often overlook. This common theme showcases the alignment between our two organizations and shared commitment to businesses in underserved communities, which makes this partnership even more critical.”
EXIM Chair and President of the Board of Directors, Reta Jo Lewis stated: “Working with AFX and connecting with their more than 250 member banks across the U.S. will exponentially help us expand our impact. With a partner like AFX, our mission to support American job creation, security and prosperity is well served.”
The AFX marketplace is a self-regulated electronic venue that provides America’s regional, mid-sized and community banks and financial institutions with an intuitive marketplace for overnight, unsecured lending and borrowing. Its credit-sensitive benchmark interest rate, AMERIBOR, represents the true cost of funding for over 250 member banks in all 50 US states, making it the perfect partner for EXIM and its clients.
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About American Financial Exchange
The American Financial Exchange (AFX) is a self-regulated electronic exchange providing over 250 banks and financial institutions a marketplace for overnight unsecured interbank lending and borrowing. The transactions on AFX power AMERIBOR®, a credit-sensitive benchmark interest rate that is the true reflection of the lending and borrowing costs for Main Street banks that represent approximately 25% of the U.S. banking sector’s total assets. For more information visit www.theafex.com.
About EXIM
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at www.exim.gov.
AFX Media Contact
Sam Raffalli, Forefront Communications for AFX
EXIM Media Contact
media@exim.gov, 202-730-6639