[MMS Authority to Set Interest Rates and Compounding Periods]

B-249350: Mar 3, 1993

Additional Materials:


Office of Public Affairs
(202) 512-4800

The Minerals Management Service (MMS) requested a decision on what interest rates and compounding periods it could use for compensating Outer Continental Shelf natural gas and oil lessees for cancelled leases. GAO held that: (1) in accordance with the Outer Continental Shelf Lands Act, MMS could establish any interest rate that was not arbitrary or inconsistent with the statute; and (2) MMS should adopt the lowest reasonable interest rate.

Jan 21, 2021

Jan 19, 2021

Jan 14, 2021

Looking for more? Browse all our products here