[Code of Federal Regulations]
[Title 7, Volume 11]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1785.69]

[Page 1088]
 
                          TITLE 7--AGRICULTURE
 
    CHAPTER XVII--RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE
 
PART 1785--LOAN ACCOUNT COMPUTATIONS, PROCEDURES AND POLICIES FOR ELECTRIC AND TELEPHONE BORROWERS--Table of Contents
 
  Subpart B--RUS Cushion of Credit Account Computations and Procedures
 
Sec. 1785.69  Cushion of credit payment account computations.

    (a) Deposits. Cushion of credit payments are credited to the 
borrowers' cushion of credit accounts.
    (b) Interest. Interest at the rate of 5 percent per annum shall be 
credited on a quarterly basis to cushion of credit accounts. Interest 
earned will appear as a reduction in the interest billed on the 
borrower's RUS notes and will be separately shown on RUS Form 694, 
``Statement of Interest and Principal Due.''