98-7020. Municipal Interest Rates for the Second Quarter of 1998

[Federal Register Volume 63, Number 52 (Wednesday, March 18, 1998)]
[Notices]
[Pages 13166-13167]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-7020]


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DEPARTMENT OF AGRICULTURE

Rural Utilities Service


Municipal Interest Rates for the Second Quarter of 1998

AGENCY: Rural Utilities Service, USDA.

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

DATES: These interest rates are effective for interest rate terms that 
commence during the period beginning April 1, 1998, and ending June 30, 
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: [phone]. E-mail: [e-mail].

SUPPLEMENTARY INFORMATION: The Rural Utilities Service (RUS) hereby 
announces the interest rates on advances made during the second 
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 second Friday of

[[Page 13167]]

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 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 7 
CFR 1714.5(a). The market interest rate on Water and Waste Disposal 
loans for this quarter is 5.125 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 second 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...........................................           5.125
2018....................................................           5.125
2017....................................................           5.125
2016....................................................           5.000
2015....................................................           5.000
2014....................................................           5.000
2013....................................................           4.875
2012....................................................           4.875
2011....................................................           4.750
2010....................................................           4.625
2009....................................................           4.500
2008....................................................           4.500
2007....................................................           4.375
2006....................................................           4.375
2005....................................................           4.250
2004....................................................           4.125
2003....................................................           4.125
2002....................................................           4.000
2001....................................................           3.875
2000....................................................           3.750
1999....................................................           3.625
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    Dated: March 12, 1998.
Wally Beyer,
Administrator, Rural Utilities Service.
[FR Doc. 98-7020 Filed 3-17-98; 8:45 am]
BILLING CODE 3410-15-M