Nebraska Administrative Code
Topic - INVESTMENT COUNCIL
Title 213 - NEBRASKA INVESTMENT COUNCIL
Chapter 1 - PROCEDURES FOR DISTRIBUTION OF FUNDS TO BANKS, CAPITAL STOCK FINANCIAL INSTITUTIONS, AND QUALIFYING MUTUAL FINANCIAL INSTITUTIONS
Section 213-1-002 - INTEREST RATES AND PAYMENTS
Universal Citation: 213 NE Admin Rules and Regs ch 1 ยง 002
Current through March 20, 2024
002.01 The state investment officer shall fix the interest rates on the first working day of each month.
002.02 The interest rate shall be the arithmetic averages of the following:
002.02A An average of yields of Treasury Note
or Bond issues maturing in the same month one year hence.
002.02B An average of yields of authorized
federal agency issues maturing in the same month one year hence. Yields will be
attained for available federal agency securities issued by the Federal Home
Loan Bank, Federal Farm Credit Bank, Fannie Mae, and Freddie Mac.
002.03 All quoted yields shall be taken from a reputable financial quote system (i.e. Bloomberg Financial Service) and shall be the prior month end yield.
002.04 Interest shall be computed and charged on a 360 day basis.
002.05 Interest shall be payable for each month on the last day of the month. If the last day of the month is not a working day, interest shall be payable on the next working day.
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