[Federal Register Volume 67, Number 13 (Friday, January 18, 2002)]
[Notices]
[Page 2631]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-1363]



[[Page 2631]]

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DEPARTMENT OF AGRICULTURE

Rural Utilities Service


Municipal Interest Rates for the First Quarter of 2002

AGENCY: Rural Utilities Service, USDA.

ACTION: Notice of municipal interest rates on advances from insured 
electric loans for the first quarter of 2002.

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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 2002.

DATES: These interest rates are effective for interest rate terms that 
commence during the period beginning January 1, 2002, and ending March 
31, 2002.

FOR FURTHER INFORMATION CONTACT: Gail P. Salgado, Management Analyst, 
Office of the Assistant Administrator, Electric Program, Rural 
Utilities Service, U.S. Department of Agriculture, Room 4024-S, Stop 
1560, 1400 Independence Avenue, SW., Washington, DC 20250-1560. 
Telephone: 202-205-3660. FAX: 202-690-0717. e-mail: 
[email protected].

SUPPLEMENTARY INFORMATION: The Rural Utilities Service (RUS) hereby 
announces the interest rates on advances made during the first calendar 
quarter of 2002 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 fourth 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 2002 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 
Sec. 1714.5(a). The market interest rate on Water and Waste Disposal 
loans for this quarter is 5.125 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 2002.

------------------------------------------------------------------------
                                                               RUS rate
             Interest rate term ends in (year)                  (0.000
                                                               percent)
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2023 or later..............................................        5.125
2022.......................................................        5.125
2021.......................................................        5.000
2020.......................................................        5.000
2019.......................................................        4.875
2018.......................................................        4.875
2017.......................................................        4.875
2016.......................................................        4.750
2015.......................................................        4.625
2014.......................................................        4.500
2013.......................................................        4.375
2012.......................................................        4.250
2011.......................................................        4.125
2010.......................................................        3.875
2009.......................................................        3.750
2008.......................................................        3.625
2007.......................................................        3.500
2006.......................................................        3.125
2005.......................................................        2.625
2004.......................................................        2.250
2003.......................................................        1.875
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    Dated: December 21, 2001.
Hilda Gay Legg,
Administrator, Rural Utilities Service.
[FR Doc. 02-1363 Filed 1-17-02; 8:45 am]
BILLING CODE 3410-15-P