[Federal Register Volume 63, Number 242 (Thursday, December 17, 1998)]
[Notices]
[Pages 69611-69612]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-33433]


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DEPARTMENT OF AGRICULTURE

Rural Utilities Service


Municipal Interest Rates for the First Quarter of 1999

AGENCY: Rural Utilities Service, USDA.

ACTION: Notice of municipal interest rates on advances from insured 
electric loans for the first quarter of 1999.

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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 1999.

DATES: These interest rates are effective for interest rate terms that 
commence during the period beginning January 1, 1999, and ending March 
31, 1999.

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 first calendar 
quarter of 1999 for municipal rate electric loans. RUS regulations at 
Sec. 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 Sec. 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 Sec. 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 1999 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 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 
Sec. 1714.5(a). The market interest rate on Water and Waste Disposal 
loans for this quarter is 5.000 percent.
    In accordance with Sec. 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 1999.

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                                                        RUS rate (0.000
          Interest rate term ends in (year)                 percent)
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2019 or later........................................              5.000
2018.................................................              5.000
2017.................................................              4.875
2016.................................................              4.875
2015.................................................              4.875
2014.................................................              4.750
2013.................................................              4.750
2012.................................................              4.625
2011.................................................              4.500
2010.................................................              4.500
2009.................................................              4.375
2008.................................................              4.250
2007.................................................              4.250
2006.................................................              4.125
2005.................................................              4.000
2004.................................................              4.000
2003.................................................              3.875
2002.................................................              3.750
2001.................................................              3.500

[[Page 69612]]

 
2000.................................................              3.250
1999.................................................              3.125
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    Dated: December 10, 1998.
Christopher A. McLean,
Acting Administrator, Rural Utilities Service.
[FR Doc. 98-33433 Filed 12-16-98; 8:45 am]
BILLING CODE 3410-15-P