Electric loans: Quarterly municipal interest rates,

[Federal Register: September 24, 2001 (Volume 66, Number 185)]

[Notices]

[Page 48858-48859]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr24se01-34]

DEPARTMENT OF AGRICULTURE

Rural Utilities Service

Municipal Interest Rates for the Fourth Quarter of 2001

AGENCY: Rural Utilities Service, USDA.

ACTION: Notice of municipal interest rates on advances from insured electric loans for the fourth quarter of 2001.

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 2001.

DATES: These interest rates are effective for interest rate terms that commence during the period beginning October 1, 2001, and ending December 31, 2001.

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: GSalgado@rus.usda.gov.

SUPPLEMENTARY INFORMATION: The Rural Utilities Service (RUS) hereby announces the interest rates on advances made during the fourth calendar quarter of 2001 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

[[Page 48859]]

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 2001 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 5.000 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 fourth calendar quarter of 2001.

RUS rate Interest rate term ends in (year)

(0.000 percent)

2022 or later..............................................

5.000 2021.......................................................

5.000 2020.......................................................

4.875 2019.......................................................

4.875 2018.......................................................

4.750 2017.......................................................

4.750 2016.......................................................

4.750 2015.......................................................

4.625 2014.......................................................

4.500 2013.......................................................

4.375 2012.......................................................

4.250 2011.......................................................

4.125 2010.......................................................

4.000 2009.......................................................

3.875 2008.......................................................

3.750 2007.......................................................

3.625 2006.......................................................

3.500 2005.......................................................

3.250 2004.......................................................

3.000 2003.......................................................

2.750 2002.......................................................

2.500

Dated: August 18, 2001. Blaine D. Stockton, Acting Administrator, Rural Utilities Service.

[FR Doc. 01-23770Filed9-21-01; 8:45 am]

BILLING CODE 3410-15-P