Farm Service Agency September 2008 – Federal Register Recent Federal Regulation Documents

Maximum Interest Rates on Guaranteed Farm Loans
Document Number: E8-22871
Type: Proposed Rule
Date: 2008-09-30
Agency: Department of Agriculture, Farm Service Agency
The Farm Service Agency (FSA) is proposing to amend its guaranteed farm loan program regulations governing interest rates to increase clarity and to be more consistent with other government loan guarantee programs. FSA is proposing to tie the maximum interest rate that may be charged on FSA guaranteed farm loans to nationally published indices such as the Wall Street Journal Prime (also known as New York Prime), or the 10-year Treasury note rate unless the lender uses a formal written risk-based pricing model for loans, in which case the rate will be the rate charged to moderate risk borrowers. This proposed rule specifically asks for comments on the index to be used and the maximum allowable spread between the base rate and the rate to be charged to FSA guaranteed borrowers.
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