USDA Sets May Interest Rates
WASHINGTON - May 1/13 - SNS -- The USDA's Commodity Credit Corporation (CCC) set interest rates for May 2013.
The CCC borrowing rate-based charge for May 2013 is 0.125%, unchanged from 0.125 in April 2013. For 1996 and subsequent crop year commodity and marketing assistance loans, the interest rate for loans disbursed during May 2013 is 1.125%, unchanged from 1.125 in April 2013.
Interest rates for Farm Storage Facility Loans approved for May 2013 are as follows, 1.250% with seven-year loan terms, down from 1.375 in April 2013; 1.875% with 10-year loan terms, down from 2.000 in April 2013 and; 2.125% with 12-year loan terms, down from 2.250% in April 2013. The interest rate for Sugar Storage Facility Loans for May 2013 is 2.375%, down from 2.500 in April 2013.
Past monthly releases announcing interest rates charged by CCC on commodity and marketing assistance loans disbursed for that particular month reflect 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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