ExecutiveOrdersEO
Det 6734--DeterminationClinton · D Quiet signal

Presidential Determination 6734--

Loan Guarantees to Israel Program

President Clinton determined that of $311.8 million in FY1995 loan guarantee authority for Israel, $95 million would be exempted from statutory deduction requirements and remain fully available, while $216.8 million would be subject to deduction under section 226(d) of the Foreign Assistance Act. The determination was transmitted to Congress and published in the Federal Register.

Federal Register 59 FR 52057
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Impact dates

  1. Federal Register publication

  2. Federal Register filing

  3. Determination signed

Key directives

  • Direct $95 million in loan guarantee authority to remain available without deduction
  • Direct $216.8 million in loan guarantee authority to be deducted pursuant to section 226(d)
  • Transmit determination to Congress
  • Publish determination in Federal Register

Who is ordered

Timeline

Immediate

  • Determination signed and transmitted to Congress
  • $95 million loan guarantee authority exempted from deduction requirements
  • $216.8 million subjected to section 226(d) deduction

Near term (90d)

  • Federal Register publication (occurred October 13, 1994)

Long term

  • FY1995 loan guarantee program implementation with split availability

Risks & tensions

  • Statutory bypass of deduction requirements via section 614(a)(1) waiver authority may raise congressional oversight concerns
  • Split treatment of guarantee pool creates administrative complexity
  • Security-interest justification is conclusory and not elaborated
Presidential Determination 6734--: Loan Guarantees to Israel Program · Executive Orders