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Note: An Annual Comprehensive Review, as required by §7 of the Federal Advisory Committee Act, is conducted each year on committee data entered for the previous fiscal year (referred to as the reporting year). The data for the reporting year is not considered verified until this review is complete and the data is moved to history for an agency/department. See the Data From Previous Years section at the bottom of this page for the committee’s historical, verified data.

Details on agency responses to committee recommendations can be found under the Performance Measures section for each committee in the fields “Agency Feedback” and “Agency Feedback Comment.”


DOC - 2575 - Department of Commerce Trade Finance Advisory Council - Agency Authority
Hide Section - GENERAL INFORMATION

GENERAL INFORMATION

Committee NameDepartment of Commerce Trade Finance Advisory CouncilAgency NameDepartment of Commerce
Fiscal Year2022Committee Number2575
Original Establishment Date8/11/2016Committee StatusTerminated
Actual Termination Date8/7/2022Committee URLhttps://www.trade.gov/about-us/trade-finance-ad...
New Committee This FYNoPresidential Appointments*No
Terminated This FYYesMax Number of Members*20
Current Charter Date8/7/2020Designated Fed Officer Position Title*International Trade Specialist
Date Of Renewal Charter Designated Federal Officer Prefix
Projected Termination Date8/7/2022Designated Federal Officer First Name*Patrick
Exempt From Renewal*NoDesignated Federal Officer Middle Name
Specific Termination AuthoritySecretarial Decision MemorandumDesignated Federal Officer Last Name*Zimet
Establishment Authority*Agency AuthorityDesignated Federal Officer Suffix
Specific Establishment Authority*Secretarial Decision MemorandumDesignated Federal Officer Phone*(202) 306-9474
Effective Date Of Authority*8/11/2016Designated Federal Officer Fax*
Exempt From EO 13875 Discretionary CmteNot ApplicableDesignated Federal Officer Email*patrick.zimet@trade.gov
Committee Type*Continuing
Presidential*No
Committee Function*Other Committee
Hide Section - RECOMMENDATION/JUSTIFICATIONS

RECOMMENDATION/JUSTIFICATIONS

Agency Recommendation*Terminate
Legislation to Terminate RequiredNo
Legislation StatusNot Applicable
How does cmte accomplish its purpose?*The U.S. Department of Commerce Trade Finance Advisory Council (TFAC or Council) advise the Secretary of Commerce in identifying effective ways to help (1) expand access to finance for U.S. exporters, including small- and medium-sized enterprises (SMEs), and their foreign buyers, and (2) remove obstacles to such finance, capital and related resources. The TFAC members shall provide advice and actively solicit input, as needed, from others in the private sector to help the Department address these objectives.
How is membership balanced?*The TFAC is comprised of up to 20 members who are industry representatives and experts. Members represent companies and organizations that are both users and providers of trade finance from a broad range of products and services, company sizes, and geographic locations and shall be drawn from large, medium, and small enterprises, private sector organizations involved in the provision of ancillary products or services, other private sector trade-finance-related entities, economic development organizations and other U.S. regional, state, and local governmental and non-governmental organizations.. In addition, designees from EXIM Bank, SBA, and the Trade Promotion Coordinating Committee Secretariat will serve as ex officio non-voting members.
How frequent & relevant are cmte mtgs?*The TFAC shall meet as often as necessary as determined by the DFO, but not less than two times a year. For FY22, the TFAC held three public meetings on December 2, 2021, April 12, 2022, and August 4, 2022. The meetings were held consistently to reflect the continuing evolution of the trade finance-related topics under consideration and advisement. The meetings were relevant in that they directly addressed the issues laid out in the charter and met the mandate of the TFAC.
Why advice can't be obtained elsewhere?*The issues affecting U.S. exporters’ financing needs remain on-going. There is no other federal advisory committee with the necessary level of stakeholder knowledge, expertise, or experience regarding the broad range of private and public sector trade finance products available to U.S. exporters and their foreign buyers. EXIM Bank’s two congressionally established advisory committees only provide advice on the Bank’s official trade finance programs. By contrast, the TFAC participants provide input in the design of solutions that can effectively address and enhance the full range of both private and official financing options.

It is important to note that the TFAC would not duplicate the work of EXIM Bank’s two congressionally established advisory committees. A designee from EXIM Bank serves on the TFAC as an ex officio, non-voting, member to help coordinate the work and recommendations of the Council with the work of EXIM Bank.

Accordingly, the TFAC serves the public interest by providing an effective and transparent mechanism for gathering advice from a broad range of stakeholders representing industries and organizations vital to supporting efforts to expand access to trade finance for U.S. exporters and their foreign buyers.
Why close or partially close meetings?Not Applicable
Recommendation RemarksThe function of the committee is to advise the Secretary of Commerce in identifying effective ways to help (1) expand access to finance for U.S. exporters, including small- and medium-sized enterprises (SMEs), and their foreign buyers, and (2) remove obstacles to such finance, capital and related resources.
Hide Section - PERFORMANCE MEASURES

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*NoAction Reorganize Priorities*No
Outcome Trust In GovernmentYesAction Reallocate ResourcesNo
Outcome Major Policy ChangesYesAction Issued New RegulationsNo
Outcome Advance In Scientific ResearchNoAction Proposed LegislationNo
Outcome Effective Grant MakingNoAction Approved Grants Or Other PaymentsNo
Outcome Improved Service DeliveryYesAction OtherNo
Outcome Increased Customer SatisfactionYesAction CommentNot Applicable
Outcome Implement Laws/Reg RequirementsYesGrants Review*No
Outcome OtherNoNumber Of Grants Reviewed0
Outcome CommentNot ApplicableNumber Of Grants Recommended0
Cost Savings*Unable to DetermineDollar Value Of Grants Recommended$0.00
Cost Savings CommentNot ApplicableGrants Review CommentNot Applicable
Number Of Recommendations*44Access Contact Designated Fed. Officer*Yes
Number Of Recommendations CommentIn FY22, there were 17 recommendations.Access Agency WebsiteYes
% of Recs Fully Implemented*0.00%Access Committee WebsiteYes
% of Recs Fully Implemented CommentAccess GSA FACA WebsiteYes
% of Recs Partially Implemented*40.00%Access PublicationsNo
% of Recs Partially Implemented CommentDuring the third charter term (2020-2022), the TFAC held four open public meetings and adopted a total of 17 recommendations as follow.
(1) Digitalizing Trade Documentation
(2) Trade-Based KYC Information Sharing Platform
(3) Measurement of Minority and Women Owned Business Participation in Trade Finance
(4) Executive Level Joint Agency Export Deployment Committee
(5) Facilitating Inclusive SMEs' Increased Participation Through ESG and Corporate Responsibility
(6) International Negotiations to De-Risk Supply Chain and Expand Trade Finance Access
(7) Leveraging Trade for Capacity Building in Africa
(8) SME Survey to Identify Gaps in Export Resources
(9) Trade Finance Training for Startup Accelerators
(10) Trade Finance Guide Update
(11) Trade Finance Outreach Through Strategic Partnerships
(12) Indo-Pacific Economic Framework Agreement
(13) EXIM Capital Investment Financing Guarantee Program
(14) Trade Finance Digital Standards Pilot Program
(15) Increase US Exports Through Better Collaboration with African Diaspora SMEs
(16) "America's Partnership for Economic Prosperity" and Trade Finance in the Western Hemisphere
(17) Business Best Practices to Prevent Fraud
Access OtherNo
Agency Feedback*YesAccess CommentNot Applicable
Agency Feedback Comment*The public can obtain information on agency feedback on the TFAC website. Any written comments provided by the public are shared with TFAC members and discussed, as needed.Narrative Description*The U.S. Department of Commerce Trade Finance Advisory Council (TFAC) advise the Secretary of Commerce in identifying effective ways to help (1) expand access to finance for U.S. exporters, including small- and medium-sized enterprises (SMEs), and their foreign buyers, and (2) remove obstacles to such finance, capital and related resources. The TFAC members shall provide advice and actively solicit input, as needed, from others in the private sector to help the Department address these objectives. In addition, the TFAC provides a forum to facilitate discussion among a diverse group of stakeholders such as banks, non-bank financial institutions, other trade finance related organizations, and exporters, so that the TFAC can better perform its advisory work for the Secretary by obtaining a better understanding of current challenges facing U.S. exporters and their foreign buyers in accessing financing and capital.
Hide Section - COSTS

COSTS

Payments to Non-Federal Members*$0.00Est Payments to Non-Fed Members Next FY*$0.00
Payments to Federal Members*$0.00Est. Payments to Fed Members Next FY*$0.00
Payments to Federal Staff*$65,000.00Estimated Payments to Federal Staff*$0.00
Payments to Consultants*$0.00Est. Payments to Consultants Next FY*$0.00
Travel Reimb. For Non-Federal Members*$0.00Est Travel Reimb Non-Fed Members nextFY*$0.00
Travel Reimb. For Federal Members*$0.00Est Travel Reimb For Fed Members*$0.00
Travel Reimb. For Federal Staff*$0.00Est. Travel Reimb to Fed Staff Next FY*$0.00
Travel Reimb. For Consultants*$0.00Est Travel Reimb to Consultants Next FY*$0.00
Other Costs$0.00Est. Other Costs Next FY*$0.00
Total Costs$65,000.00Est. Total Next FY*$0.00
Date Cost Last Modified10/21/2022 1:23 PMEst. Fed Staff Support Next FY*0.00
Federal Staff Support (FTE)*0.50Est Cost RemarksThe TFAC terminated at the end of the charter term on 08/07/2022 and thus there will be no costs for the next FY (FY23).
Cost RemarksThe estimated annual operating cost of the TFAC is $65,000, which includes 0.5 full-time equivalents of staff support.  
Hide Section - Interest Areas

Interest Areas

Category
Area
Business
Industry
Manufacturing
Small Business
Finance
Banking
Credit
Finance
Investment
Securities
Government
Federal Government
Internal Federal Government
State Government
International
International Economic Policy
International Law
International Organizations
Trade
Competitiveness
Exports and Imports
International Commerce and Investment
Trade and Trade Policy
Hide Section - MEMBERS,MEETINGS AND ADVISORY REPORTS

MEMBERS,MEETINGS AND ADVISORY REPORTS

To View all the members, meetings and advisory reports for this committee please click here
Hide Section - CHARTERS AND RELATED DOCS

CHARTERS AND RELATED DOCS

No Documents Found
Hide Section - DATA FROM PREVIOUS YEARS

DATA FROM PREVIOUS YEARS

Committee

Data from Previous Years

 
ActionCommittee System IDCommittee NameFiscal Year
 COM-040188Department of Commerce Trade Finance Advisory Council2021
 COM-037974Department of Commerce Trade Finance Advisory Council2020
 COM-035907Department of Commerce Trade Finance Advisory Council2019
 COM-034306Department of Commerce Trade Finance Advisory Council2018
 COM-001299Department of Commerce Trade Finance Advisory Council2017
 COM-002995Department of Commerce Trade Finance Advisory Council2016