[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]


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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

[[Page 66596]]

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: 
CD[email protected].

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.

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                                                        RUS rate (0.000 
          Interest rate term ends in (year)                 percent)    
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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
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    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