USDA Announces April 2013 CCC Interest Rates

April 1, 2013 04:13 AM
 

USDA today announced interest rates for April 2013. The CCC borrowing rate-based charge for April 2013 is 0.125%, unchanged from last month. For 1996 and subsequent crop year commodity and marketing assistance loans, the interest rate for loans disbursed during April 2013 is 1.125%, also unchanged from the month prior.

Interest rates for Farm Storage Facility Loans approved for April 2013 are as follows:

  • 1.375% with seven-year loan terms, unchanged from March
  • 2.000% with 10-year loan terms, unchanged from March
  • 2.250% with 12-year loan terms, unchanged from March

 

The interest rate for Sugar Storage Facility Loans for April 2013 is 2.500%, unchanged from last month. The maximum discount rate applicable for April 2013 for the Tobacco Transition Payment Program is 5%, unchanged from last month. This is based on the 3.250% 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 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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