Electric loans: Quarterly municipal interest rates,

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Federal Register: September 16, 1998 (Volume 63, Number 179)NoticesPage 49543From the Federal Register Online via GPO Access [wais.access.gpo.gov]

DOCID:fr16se98-33

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.

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: CDotson@rus.usda.gov.

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.

RUS rate Interest rate term ends in (year)

(0.000 percent)

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

Dated: September 8, 1998. Christopher A. McLean, Acting Administrator, Rural Utilities Service.

FR Doc. 98-24765Filed9-15-98; 8:45 amBILLING CODE 3410-15-P

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