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Rural Utilities Loan Interest Rates

Water & Environmental Programs

Telecommunications Program

Electric Programs

Hardship Loan Rate

On November 1, 1993, the Rural Electrification Loan Restructuring Act, Pub. L. 103-129, 107 Stat. 1356, (RELRA) amended the Rural Electrification Act of 1936, 7 U.S.C. 901 et seq., (RE Act) to establish a new interest rate structure for insured electric loans. Insured electric loans approved on or after this date, are either municipal rate loans or hardship rate loans. Borrowers meeting the criteria set forth in §1714.8 are eligible for 5 percent hardship rate loans.


Treasury and Federal Financing Bank (FFB) Rates

The following list of interest rates for loans shall not constitute an offer or commitment to make a loan at these rates. The interest rates listed are illustrative only of the rates that would apply to funds advanced on the date identified here as the "Issue Date." These rates change daily.

APPROXIMATE FEDERAL FINANCING BANK LOAN RATES WITH CALL OPTIONS

Issue Date: 1/27/2023
Yield Curve Date: 1/26/2022
Maturity Date: 3/31/2053
Volatility: 12.1%
Callable Immediately (Par)  
Eff. FFB Rate with Option: 5.149% Qtr.
Call Option Pricing Spread 1.492
Callable Immediately (5% decreasing)  
Eff. FFB Rate with Option: 4.230% Qtr.
Call Option Pricing Spread 0.573
Callable Immediately (10% decreasing)  
Eff. FFB Rate with Option: 3.983% Qtr.
Call Option Pricing Spread 0.326

5-Year Call Date: 3/31/2028

5-Year No Call (Par)  
Eff. FFB Rate with Option: 4.155% Qtr.
Call Option Pricing Spread 0.498
5-Year No Call (5% decreasing)  
Eff. FFB Rate with Option: 3.973% Qtr.
Call Option Pricing Spread 0.316
5-Year No Call (10% decreasing)  
Eff. FFB Rate with Option: 3.858% Qtr.
Call Option Pricing Spread 0.201
ISSUE DATE: 1/27/2023

1/26/2023 TREASURY YIELD CURVE SEMIANNUAL RATES

3-mo 6-mo 1-yr 2-yr 3-yr 5-yr 7-yr 10-yr 20-yr 30-yr
4.71 4.79 4.68 4.17 3.88 3.58 3.54 3.49 3.75 3.62

APPROXIMATE FFB QUARTERLY RATES*

3-mo 6-mo 1-yr 2-yr 3-yr 5-yr 7-yr 10-yr 20-yr 30-yr
4.71 4.76 4.57 4.09 3.84 3.57 3.54 3.49 3.70 3.66

*These approximate FFB rates are based upon a common type of RUS loan in which the quarterly loan payments are derived by amortizing over 30 years, but the loan matures with a balloon payment at the maturity indicated in the column heading (for example, 10 years). The column headings are approximate maturity terms, since the loans end on quarterly payment dates.

This list of interest rates for loans and pricing spreads for call options shall not constitute an offer or commitment to make a loan at these rates or to provide call options at these spreads. The interest rates and pricing spreads listed here are illustrative only of the rates and spreads that would apply to loans made on the date identified here as the "Issue Date" and would not apply to loans made on any other date.

Track our progress in loan making throughout the fiscal year by looking at the latest BoxScore.  This document displays details of the various Electric Program loan offerings.

To obtain the latest Federal Reserve Statistical Release of daily interest rates, you may use this link to go to the Federal Reserve Bank, where that information is available.


Municipal Interest Rates for the 1st Quarter of CY 2023

In accordance with 7 CFR 1714.5, the interest rates are established as shown in the following table for all interest rate terms that begin at any time during the first quarter of calendar year 2023.

 Municipal Interest Rates 
for the 1st Quarter of 2023
Interest Rate Term Ends in (year...) RUS rate (0.000 percent)
2024 2.750
2025 2.750
2026 2.875
2027 2.875
2028 2.875
2029 3.000
2030 3.000
2031 3.000
2032 3.000
2033 3.125
2034 3.125
2035 3.250
2036 3.375
2037 3.500
2038 3.625
2039 3.625
2040 3.625
2041 3.625
2042 3.625
2043 3.625
2044 or later 3.625