 Suffice it to say, the default rate poses a significant challenge to EXIM's ability to support U.S. exporters. China's EXIM and the PRC and other export lenders are not bound by these constraints. We are seeking a default rate cap exemption for CTAP transactions. This will allow EXIM to compete more aggressively against the PRC and embrace higher risk technologies and markets. I would also be remiss if I did not mention that EXIM's charter expires at the end of 2026.