Financial Export Control Act

Financial Export Control Act - Amends the Export Administration Act of 1979 to declare that it is U.S. policy to use export controls to restrict the export of capital, the extension of credit, or the transfer of financial resources to countries subject to national security export controls.

Authorizes the President to restrict the export or transfer of money or other financial assets to the government of a country subject to national security export controls. Provides for negotiations with other countries to obtain their cooperation with such export controls on capital.

Requires export license applications for the export of capital to be submitted to the Secretary of the Treasury who shall make all determinations with respect to such applications.

Requires the annual report on the administration of the Export Administration Act of 1979 to include a report on actions taken to carry out export controls on capital.