USDA's Commodity Credit Corporation (CCC) today announced interest rates for October 2012. It left the CCC borrowing rate-based charge for October 2012 unchanged from last month at 0.125%. For 1996 and subsequent crop year commodity and marketing assistance loans, the interest rate for loans disbursed during October 2012 is 1.125%, also unchanged from September.
Interest rates for Farm Storage Facility Loans approved for October 2012 are as follows:
- 1.125% with seven-year loan terms, unchanged from Sepetember
- 1.750% with 10-year loan terms, up from 1.625 in September
- 2.000% with 12-year loan terms, up from 1.875% in September
The interest rate for Sugar Storage Facility Loans for October was left at 2.125 percent. The maximum discount rate applicable for October 2012 for the Tobacco Transition Payment Program is still at 5%. This is based on the 3.250% prime rate plus 2%, rounded to the nearest whole number.