Review of Rural Telephone Bank 1995 Loan Interest Rate Calculation

AIMD-96-18: Published: Nov 16, 1995. Publicly Released: Nov 16, 1995.

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Pursuant to a legislative requirement, GAO reviewed the accuracy of the Rural Telephone Bank's (RTB) interest rate determinations, focusing on the interest rate: (1) charged to borrowers during fiscal year (FY) 1995; and (2) for advances from the liquidating and financing accounts.

GAO found that: (1) RTB established its FY 1995 cost of money rates at 6.04 percent for liquidating account advances and 6.88 percent for financing account advances; and (2) the interest rate determinations were accurate and consistent with applicable laws and regulations.

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