97-24757. Municipal Interest Rates for the Fourth Quarter of 1997

[Federal Register Volume 62, Number 181 (Thursday, September 18, 1997)]
[Notices]
[Page 48984]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-24757]


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DEPARTMENT OF AGRICULTURE

Rural Utilities Service


Municipal Interest Rates for the Fourth Quarter of 1997

AGENCY: Rural Utilities Service, USDA.

ACTION: Notice of municipal interest rates on advances from insured 
electric loans for the fourth quarter of 1997.

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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 fourth calendar quarter of 1997.

DATES: These interest rates are effective for interest rate terms that 
commence during the period beginning October 1, 1997, and ending 
December 31, 1997.

FOR FURTHER INFORMATION CONTACT: Carolyn Dotson, Loan Funds Control 
Assistant, U.S. Department of Agriculture, Rural Utilities Service, 
Room 2234-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 fourth 
calendar quarter of 1997 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 first 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 Date 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 5.375 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 1997.

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                                                        RUS rate  (0.000
          Interest rate term ends in (year)                 percent)    
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2018 or later........................................              5.375
2017.................................................              5.375
2016.................................................              5.250
2015.................................................              5.250
2014.................................................              5.250
2013.................................................              5.250
2012.................................................              5.125
2011.................................................              5.125
2010.................................................              5.000
2009.................................................              4.875
2008.................................................              4.875
2007.................................................              4.750
2006.................................................              4.625
2005.................................................              4.625
2004.................................................              4.500
2003.................................................              4.500
2002.................................................              4.375
2001.................................................              4.250
2000.................................................              4.125
1999.................................................              4.000
1998.................................................              3.750
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    Dated: September 12, 1997.
Wally Beyer,
Administrator, Rural Utilities Service.
[FR Doc. 97-24757 Filed 9-17-97; 8:45 am]
BILLING CODE 3410-15-P