Review of Rural Telephone Bank's 1990 Loan Interest Rate Calculation
AFMD-91-32: Published: Nov 2, 1990. Publicly Released: Nov 2, 1990.
- Full Report:
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) 1990; and (2) for advances from the liquidating and financing accounts.
GAO found that the RTB FY 1990 cost-of-money rate of 5.00 percent, the minimum rate allowable, was in accordance with legislative requirements.