95-23145. National Service Life Insurance Policy Loan Interest Rate

[Federal Register Volume 60, Number 181 (Tuesday, September 19, 1995)]
[Notices]
[Page 48592]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-23145]



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DEPARTMENT OF VETERANS AFFAIRS


National Service Life Insurance Policy Loan Interest Rate

AGENCY: Department of Veterans Affairs.

ACTION: Notice.

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SUMMARY: The Department of Veterans Affairs (VA) is hereby giving 
notice of the variable loan interest rate for loans granted on National 
Service Life Insurance (NSLI).

DATES: The effective date for the new variable loan interest rate is 
October 1, 1995.

FOR FURTHER INFORMATION CONTACT:
Mr. George Poole, Chief, Insurance Program Administration Staff (290B), 
Department of Veterans Affairs Regional Office and Insurance Center, 
P.O. Box 8079, Philadelphia, Pennsylvania 19101 [phone].

SUPPLEMENTARY INFORMATION: VA's National Service Life Insurance 
Regulations at 38 CFR 8.28 (amended at 59 FR 65717) provide that NSLI 
policy loans will bear a variable interest rate, which could be 
adjusted annually, and that such rate shall equal the yield on the Ten-
Year Constant Maturities Index for U.S. Treasury Securities for the 
month of June of the year of calculation rounded down to the next whole 
percentage point. These regulations further provide that the adjusted 
loan rate would be effective, subject to computer readiness, on or 
after the first day of October. The Council of Economic Advisers 
established the above-mentioned index for June 1995 at 6.17 percent. 
Rounding down, the NSLI variable policy loan rate, effective October 1, 
1995, will be 6 percent.

    Dated: September 7, 1995.
Jesse Brown,
Secretary of Veterans Affairs.
[FR Doc. 95-23145 Filed 9-18-95; 8:45 am]
BILLING CODE 8320-01-M