98-16146. Municipal Interest Rates for the Third Quarter of 1998

[Federal Register Volume 63, Number 117 (Thursday, June 18, 1998)]
[Notices]
[Pages 33319-33320]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-16146]


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DEPARTMENT OF AGRICULTURE

Rural Utilities Service


Municipal Interest Rates for the Third Quarter of 1998

AGENCY: Rural Utilities Service, USDA.

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

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

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

[[Page 33320]]

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 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 third 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.........................................................      5.000
2012.........................................................      4.875
2011.........................................................      4.750
2010.........................................................      4.625
2009.........................................................      4.625
2008.........................................................      4.500
2007.........................................................      4.500
2006.........................................................      4.375
2005.........................................................      4.375
2004.........................................................      4.250
2003.........................................................      4.250
2002.........................................................      4.125
2001.........................................................      4.000
2000.........................................................      3.875
1999.........................................................      3.750
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    Dated: June 8, 1998.
Wally Beyer,
Administrator, Rural Utilities Service.
[FR Doc. 98-16146 Filed 6-17-98; 8:45 am]
BILLING CODE 3410-15-P