[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: 7CFR1786.106] [Page 1105-1107] TITLE 7--AGRICULTURE CHAPTER XVII--RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE PART 1786--PREPAYMENT OF RUS GUARANTEED AND INSURED LOANS TO ELECTRIC AND TELEPHONE BORROWERS--Table of Contents Subpart E--Discounted Prepayments on RUS Notes in the Event of a Merger of Certain RUS Electric Borrowers Sec. 1786.106 Other prepayments. RUS loan documentation generally permits borrowers to prepay RUS Notes by paying the outstanding balance due thereon. Nothing in this subpart shall prohibit any borrower from prepaying its outstanding RUS Notes in accordance with the terms thereof. The provisions of this subpart shall not be applicable to such prepayment. Appendix A to Subpart E of Part 1786--Listing of Eligible Borrowers ------------------------------------------------------------------------ State Borrower name and address ------------------------------------------------------------------------ Colorado............................ Colorado-Ute Electric Assn., Inc., Montrose. Florida............................. Lee County Electric Coop. Inc., North Fort Myers. Indiana............................. Clark County Rural Elec. Memb. Corp., Sellersburg. Louisiana........................... Beauregard Electric Cooperative, Inc., Deridder. Missouri............................ Culvre River Electric Cooperative, Inc., Troy. Nebraska............................ Roosevelt Public Power District, Mitchell. Nebraska............................ Howard Greely Rural Public Power Dist., St. Paul. Nebraska............................ Cuming County Public Power District, West Point. Nebraska............................ York County Rural Public Power District, York. [[Page 1106]] Nebraska............................ Elkhorn Rural Public Power District, Battle Creek. Nebraska............................ Southern Nebraska Rural P. P. D., Grand Island. Nebraska............................ McCook Public Power District, McCook. Nebraska............................ Niobrara Valley Electric Memb. Corp., O'Neill. Nebraska............................ Cornhusker Public Power District, Columbus. Nebraska............................ Custer Public Power District, Broken Bow. Nebraska............................ Northwest Rural Public Power Dist., Hay Springs. Nebraska............................ Southwest Public Power District, Palisade. Nebraska............................ Loup Valleys Rural Public Power District, Ord. Nebraska............................ South Central Public Power District, Nelson. Oklahoma............................ Peoples' Electric Cooperative, Ada. Texas............................... Deaf Smith County Electric Coop. Inc., Hereford. Texas............................... Pedernales Electric Coop. Inc., Johnson City. Texas............................... Bandera Electric Cooperative, Inc., Bandera. Texas............................... Guadalupe Valley Electric Coop., Inc., Gonzales. Texas............................... Bluebonnet Electric Cooperative, Inc., Giddings. Texas............................... Cap Rock Electric Cooperative, Inc. Stanton. Texas............................... San Bernard Electric Cooperative, Inc., Bellville. Washington.......................... Inland Power & Light Company, Spokane. Washington.......................... Pub. Util. Dist. No. 1 Grays Harbor Co., Aberdeen. ------------------------------------------------------------------------ Appendix B to Subpart E of Part 1786--Federal Reserve Statistical Release Federal Reserve Statistical Release These data are released each Monday. The availability of the release will be announced when the information is available, on (202) 452-3206. H. 15 (519) For immediate release February 4, 1991. Selected Interest Rates [Yields in percent per annum] -------------------------------------------------------------------------------------------------------------------------------------------------------- 1991 Jan. 1991 Jan. 1991 Jan. 1991 Jan. 1991 Feb. Instruments 28 29 30 31 1 This week Last week 1991 Jan. -------------------------------------------------------------------------------------------------------------------------------------------------------- Federal Funds (effective) \1\ \2\ \3\................... 7.61 7.16 6.96 8.18 6.30 7.46 6.88 6.91 Commercial paper \3\ \4\ \5\ 1-Month............................................. 6.88 6.96 6.95 6.99 6.73 6.90 6.83 7.12 3-Month............................................. 6.92 6.96 6.94 6.95 6.67 6.89 6.92 7.10 6-Month............................................. 6.87 6.91 6.88 6.88 6.58 6.82 6.86 7.02 Finance paper placed directly \3\ \4\ \6\ 1-Month............................................. 6.76 6.85 6.83 6.83 6.55 6.76 6.68 6.95 3-Month............................................. 6.75 6.83 6.83 6.76 6.46 6.73 6.77 6.92 6-Month............................................. 6.53 6.53 6.59 6.53 6.19 6.47 6.55 6.59 Bankers acceptances (top rated) \3\ \4\ \7\ 3-Month............................................. 6.80 6.82 6.77 6.68 6.30 6.67 6.76 6.96 6-Month............................................. 6.67 6.70 6.65 6.55 6.15 6.54 6.63 6.84 CDS (secondary market) \3\ \8\ 1-Month............................................. 6.78 6.85 6.87 6.82 6.52 6.77 6.77 7.10 3-Month............................................. 6.94 6.95 6.93 6.88 6.51 6.84 6.94 7.17 6-Month............................................. 6.95 6.98 6.95 6.88 6.51 6.85 6.97 7.17 Eurodollar deposits (London) \3\ \9\ 1-Month............................................. 6.81 6.88 6.88 6.88 6.88 6.86 6.81 7.13 3-Month............................................. 6.94 7.06 7.00 6.94 6.94 6.98 7.01 7.23 6-Month............................................. 7.00 7.00 7.00 6.94 6.94 6.98 7.04 7.23 Bank prime loan \2\ \3\ \10\............................ 9.50 9.50 9.50 9.50 9.50 9.50 9.50 9.52 Discount window borrowing \2\ \11\...................... 6.50 6.50 6.50 6.50 6.00 6.50 6.50 6.50 U.S. Government securities Treasury bills Auction average \3\ \4\ \12\ 3-Month........................................... 6.22 .......... .......... .......... .......... 6.22 6.14 6.30 6-Month........................................... 6.28 .......... .......... .......... .......... 6.28 6.21 6.34 [[Page 1107]] 1-Year............................................ .......... .......... .......... .......... .......... .......... .......... 6.22 Auction average (invest- ment) \12\ 3-Month........................................... 6.41 .......... .......... .......... .......... 6.41 6.32 6.49 6-Month........................................... 6.58 .......... .......... .......... .......... 6.58 6.50 6.64 Secondary market \3\ \4\ 3-Month........................................... 6.25 6.22 6.20 6.19 6.00 6.17 6.12 6.22 6-Month........................................... 6.26 6.26 6.24 6.20 5.97 6.19 6.20 6.28 1-Year............................................ 6.24 6.20 6.17 6.13 5.91 6.13 6.19 6.25 Treasury Constant maturities \13\ 1-Year............................................ 6.64 6.59 6.56 6.51 6.27 6.51 6.58 6.64 2-Year............................................ 7.12 7.10 7.07 7.05 6.83 7.03 7.09 7.13 3-Year............................................ 7.38 7.35 7.34 7.30 7.10 7.29 7.35 7.38 5-Year............................................ 7.67 7.64 7.64 7.62 7.45 7.60 7.66 7.70 7-Year............................................ 7.93 7.90 7.90 7.89 7.75 7.87 7.92 7.97 10-Year........................................... 8.06 8.05 8.05 8.03 7.91 8.02 8.04 8.09 30-Year........................................... 8.23 8.20 8.23 8.21 8.09 8.19 8.22 8.27 Composite Over 10 years (long-term) \14\...................... 8.29 8.26 8.29 8.27 8.15 8.25 8.28 8.33 Corporate bonds Moody's Seasoned AAA................................................. 9.03 9.01 9.00 8.99 8.96 9.00 9.05 9.04 BAA................................................. 10.43 10.37 10.35 10.33 10.24 10.34 10.44 10.45 A-Utility \15\...................................... .......... .......... .......... .......... 9.65 9.65 9.80 9.83 State and local bonds \16\.............................. .......... .......... .......... 7.00 .......... 7.00 7.06 7.08 Conventional mortgages \17\............................. .......... .......... .......... .......... 9.56 9.56 9.61 9.64 -------------------------------------------------------------------------------------------------------------------------------------------------------- Footnotes: \1\ The daily effective federal funds rate is a weighted average of rates on trades through N.Y. brokers. \2\ Weekly figures are averages of 7 calendar days ending on Wednesday of the current week; monthly figures include each calendar day in the month. \3\ Annualized using a 360-day year or bank interest. \4\ Quoted on a discount basis. \5\ An average of offering rates on commercial paper placed by several leading dealers for firms whose bond rating is AA or the equivalent. \6\ An average of offering rates on paper directly placed by finance companies. \7\ Representative closing yields for acceptances of the highest rated money center banks. \8\ An average of dealer offering rates on nationally traded certificates of deposit. \9\ Bid rates for Eurodollar deposits at 11 a.m. London time. \10\ One of several base rates used by banks to price short-term business loans. \11\ Rate for the Federal Reserve Bank of New York. \12\ Auction date for daily data; weekly and monthly averages computed on an issue-date basis. \13\ Yields on actively traded issues adjusted to constant maturities. Source: U.S. Treasury. \14\ Unweighted average of rates on all outstanding bonds neither due nor callable in less than 10 years, including one very low yielding ``flower'' bond. \15\ Estimate of the yield on a recently offered, A-rated utility bond with a maturity of 30 years and call protection of 5 years; Friday quotations. \16\ Bond buyer Index, general obligation, 20 years to maturity, mixed quality; Thursday quotations. \17\ Contract interest rates on commitments for fixed-rate first mortgages. Source: FHLMC. Note: Weekly and monthly figures are averages of business days unless otherwise noted. Description of the Treasury Constant Maturity Series Yields on Treasury securities at ``constant maturity'' are interpolated by the U.S. Treasury from the daily yield curve. This curve, which relates the yield on a security to its time to maturity, is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter market. These market yields are calculated from composites of quotations reported by five leading U.S. Government securities dealers to the Federal Reserve Bank of New York. The constant maturity yield values are read from the yield curve at fixed maturities, currently 1, 2, 3, 5, 7, 10, and 30 years. This method provides a yield for a 10-year maturity, for example, even if no outstanding security has exactly 10 years remaining to maturity. [[Page 1108]]