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USDA Sets CCC Rates For September
WASHINGTON - Sep 1/05 - SNS -- The interest rate for 1995 and prior crop year commodity loans disbursed by USDA's Commodity Credit Corporation (CCC) during September 2005 is 3.875%, up from 3.500% in August 2005. For 1996 and subsequent crop year commodity and marketing assistance loans, the interest rate for loans disbursed during September 2005 is 4.875%, up from 4.500% in August 2005.
The interest rate for farm storage facility loans approved in September 2005 is 4.250%, up from 4.000% in August 2005. The interest rate for sugar storage facility loans for September 2005 is 4.500%, up from 4.250% in August 2005.
The maximum discount rate applicable for September 2005 for the Tobacco Transition Payment Program is 8.0%. This is based on the prime rate plus 2%, rounded to the nearest whole number.
Past monthly releases announcing interest rates charged by CCC on commodity and marketing assistance loans disbursed for that particular month reflected the interest rate the U.S. Treasury charged CCC for that month. This was the interest rate specified by CCC since Jan. 1, 1982, but the process of establishing the interest rate was changed by a provision of the Federal Agriculture Improvement and Reform Act of 1996 (the Act), enacted on April 4, 1996.
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