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USDA Sets June Interest Rates
WASHINGTON - Jun 1/12 - SNS -- The USDA's Commodity Credit Corporation (CCC) set interest rates for June 2012.
The CCC borrowing rate-based charge for June 2012 is 0.125%, unchanged from 0.125 in May 2012. For 1996 and subsequent crop year commodity and marketing assistance loans, the interest rate for loans disbursed during June 2012 is 1.125%, unchanged from 1.125 in May 2012.
In accordance with the 2008 Farm Bill, interest rates for Farm Storage Facility Loans approved for June 2012 are as follows, 1.250% with seven-year loan terms, down from 1.500 in May 2012; 1.875% with 10-year loan terms, down from 2.125 in May 2012 and; 2.125% with 12-year loan terms, down from 2.375% in May 2012. The interest rate for Sugar Storage Facility Loans for June 2012 is 2.375%, down from 2.625 in May 2012.
The maximum discount rate applicable for June 2012 for the Tobacco Transition Payment Program is 5%, unchanged from May 2012. This is based on the 3.250% prime rate plus 2%, rounded to the nearest whole number.
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