[Federal Register Volume 62, Number 244 (Friday, December 19, 1997)] [Notices] [Pages 66595-66596] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 97-33165] ----------------------------------------------------------------------- DEPARTMENT OF AGRICULTURE Rural Utilities Service Municipal Interest Rates for the First Quarter of 1998
Agency
Rural Utilities Service, USDA.
Action
Notice of municipal interest rates on advances from insured electric loans for the first quarter of 1998.
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Summary
The Rural Utilities Service hereby announces the interest rates for
advances on municipal rate loans with interest rate terms beginning during the first calendar quarter of 1998.
Dates
These interest rates are effective for interest rate terms that commence during the period beginning January 1, 1998, and ending March 31, 1998.
For Further Information Contact
Carolyn Dotson, Loan Funds Control Assistant, U.S. Department of Agriculture, Rural Utilities Service, room 2234-S, Stop 1524, 1400 Independence Avenue, SW., Washington, DC 20250-1500. Telephone: 202-720-1928. FAX: 202-690-2268. E-mail: CDotson@rus.usda.gov.
Supplementary Information
The Rural Utilities Service (RUS) hereby announces the interest rates on advances made during the first calendar quarter of 1998 for municipal rate electric loans. RUS regulations at 7 CFR 1714.4 state that each advance of funds on a municipal rate loan shall bear interest at a single rate for each interest rate term. Pursuant to 7 CFR 1714.5, the interest rates on these advances are based on indexes published in the ``Bond Buyer'' for the four weeks prior to the first Friday of the last month before the beginning of the quarter. The rate for interest rate terms of 20 years or longer is the average of the 20 year rates published in the Bond Buyer in the four weeks specified in 7 CFR 1714.5(d). The rate for terms of less than 20 years is the average of the rates published in the Bond Buyer for the same four weeks in the table of ``Municipal Market Data--General Obligation Yields'' or the successor to this table. No interest rate may exceed the interest rate for Water and Waste Disposal loans. The table of Municipal Market Data includes only rates for securities maturing in 1998 and at 5 year intervals thereafter. The rates published by RUS reflect the average rates for the years shown in the Municipal Market Data table. Rates for interest rate terms ending in intervening years are a linear interpolation based on the average of the rates published in the Bond Buyer. All rates are adjusted to the nearest one eighth of one percent (0.125 percent) as required under 7 CFR 1714.5(a). The market interest rate on Water and Waste Disposal loans for this quarter is 5.375 percent. In accordance with 7 CFR 1714.5, the interest rates are established as shown in the following table for all interest rate terms that begin at any time during the first calendar quarter of 1998.
------------------------------------------------------------------------ RUS rate (0.000 Interest rate term ends in (year) percent) ------------------------------------------------------------------------ 2019 or later........................................ 5.250 2018................................................. 5.250 2017................................................. 5.250 2016................................................. 5.125 2015................................................. 5.125 2014................................................. 5.125 2013................................................. 5.125 2012................................................. 5.000 2011................................................. 4.875 2010................................................. 4.750 2009................................................. 4.750 2008................................................. 4.625 2007................................................. 4.500 2006................................................. 4.500 2005................................................. 4.375 2004................................................. 4.375 2003................................................. 4.250 2002................................................. 4.125 2001................................................. 4.000 2000................................................. 3.875 1999................................................. 3.750 ------------------------------------------------------------------------
Dated: December 10, 1997. Wally Beyer, Administrator, Rural Utilities Service. [FR Doc. 97-33165 Filed 12-18-97; 8:45 am] BILLING CODE 3410-15-M