[Federal Register Volume 63, Number 179 (Wednesday, September 16, 1998)]
[Notices]
[Page 49543]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-24765]


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DEPARTMENT OF AGRICULTURE

Rural Utilities Service


Municipal Interest Rates for the Fourth Quarter of 1998

AGENCY: Rural Utilities Service, USDA.

ACTION: Notice of municipal interest rates on advances from insured 
electric loans for the fourth 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 fourth calendar quarter of 1998.

DATES: These interest rates are effective for interest rate terms that 
commence during the period beginning October 1, 1998, and ending 
December 31, 1998.

FOR FURTHER INFORMATION CONTACT: Carolyn Dotson, Loan Funds Control 
Assistant, U.S. Department of Agriculture, Rural Utilities Service, 
Room 0227-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 fourth 
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 third 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 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 5.000 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 fourth calendar quarter of 1998.

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                                                               RUS rate 
              Interest rate term ends in (year)                 (0.000  
                                                               percent) 
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2019 or later...............................................       5.000
2018........................................................       5.000
2017........................................................       5.000
2016........................................................       5.000
2015........................................................       4.875
2014........................................................       4.875
2013........................................................       4.875
2012........................................................       4.750
2011........................................................       4.625
2010........................................................       4.625
2009........................................................       4.500
2008........................................................       4.375
2007........................................................       4.375
2006........................................................       4.375
2005........................................................       4.250
2004........................................................       4.250
2003........................................................       4.250
2002........................................................       4.125
2001........................................................       3.875
2000........................................................       3.750
1999........................................................       3.500
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    Dated: September 8, 1998.
Christopher A. McLean,
Acting Administrator, Rural Utilities Service.
[FR Doc. 98-24765 Filed 9-15-98; 8:45 am]
BILLING CODE 3410-15-P