Réglementation et droit · 23/12/20042 min de lecture
Determination of the 2004 Fiscal Year Interest Rates on Rural Telephone Bank Loans
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Résumé
In accordance with 7 CFR 1610.10, the Rural Telephone Bank (Bank) fiscal year 2004 cost of money rates have been established as follows: 6.18% and 5.36% for advances from the liquidating account and financing account, respectively (fiscal year is the period beginning October 1 and ending September 30). All loan advances made during fiscal year 2004 under Bank loans approved in fiscal years 1988 through 1991 shall bear interest at the rate of 6.18% (the liquidating account rate). All loan advances made during fiscal year 2004 under Bank loans approved during or after fiscal year 1992 shall bear interest at the rate of 5.36% (the financing account rate). The calculation of the Bank's cost of money rates for fiscal year 2004 for the liquidating account and the financing account are provided in Tables 1 and 2. Since the calculated rates are greater than the minimum rate (5.00%) allowed under 7 U.S.C. 948(b)(3)(A), the cost of money rates for the liquidating account and financing account are set at 6.18% and 5.36%, respectively. The methodology required to calculate the cost of money rates is established in 7 CFR 1610.10(c).