[Federal Register: January 18, 2002 (Volume 67, Number 13)]
[Notices]
[Page 2631]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr18ja02-25]
[[Page 2631]]
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DEPARTMENT OF AGRICULTURE
Rural Utilities Service
Municipal Interest Rates for the First Quarter of 2002
AGENCY: Rural Utilities Service, USDA.
ACTION: Notice of municipal interest rates on advances from insured
electric loans for the first quarter of 2002.
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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 first calendar quarter of 2002.
DATES: These interest rates are effective for interest rate terms that
commence during the period beginning January 1, 2002, and ending March
31, 2002.
FOR FURTHER INFORMATION CONTACT: Gail P. Salgado, Management Analyst,
Office of the Assistant Administrator, Electric Program, Rural
Utilities Service, U.S. Department of Agriculture, Room 4024-S, Stop
1560, 1400 Independence Avenue, SW., Washington, DC 20250-1560.
Telephone: 202-205-3660. FAX: 202-690-0717. e-mail:
GSalgado@rus.usda.gov.
SUPPLEMENTARY INFORMATION: The Rural Utilities Service (RUS) hereby
announces the interest rates on advances made during the first calendar
quarter of 2002 for municipal rate electric loans. RUS regulations at
Sec. 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 Sec. 1714.5, the interest rates on these advances are based
on indexes published in the ``Bond Buyer'' for the four weeks prior to
the fourth 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 Sec. 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 2002 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
Sec. 1714.5(a). The market interest rate on Water and Waste Disposal
loans for this quarter is 5.125 percent.
In accordance with Sec. 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 first calendar quarter of 2002.
------------------------------------------------------------------------
RUS rate
Interest rate term ends in (year) (0.000
percent)
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2023 or later.............................................. 5.125
2022....................................................... 5.125
2021....................................................... 5.000
2020....................................................... 5.000
2019....................................................... 4.875
2018....................................................... 4.875
2017....................................................... 4.875
2016....................................................... 4.750
2015....................................................... 4.625
2014....................................................... 4.500
2013....................................................... 4.375
2012....................................................... 4.250
2011....................................................... 4.125
2010....................................................... 3.875
2009....................................................... 3.750
2008....................................................... 3.625
2007....................................................... 3.500
2006....................................................... 3.125
2005....................................................... 2.625
2004....................................................... 2.250
2003....................................................... 1.875
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Dated: December 21, 2001.
Hilda Gay Legg,
Administrator, Rural Utilities Service.
[FR Doc. 02-1363 Filed 1-17-02; 8:45 am]
BILLING CODE 3410-15-P