Review of Rural Telephone Bank's 1988 Loan Interest Rate Calculation
AFMD-89-30: Published: Nov 10, 1988. Publicly Released: Nov 10, 1988.
- Full Report:
Pursuant to a legislative requirement, GAO reviewed the accuracy of the Rural Telephone Bank's interest rate determinations, focusing on the interest rate: (1) charged to borrowers during fiscal year (FY) 1988; and (2) for advances from the loquidating and financing accounts.
GAO found that the: (1) Bank revised an initial rate determination 8 days after submitting it to GAO; (2) initial and revised determinations established the Bank's fiscal year 1988 interest rate at 5 percent; and (3) initial and revised rate determinations complied with the applicable regulations.