Review of Rural Telephone Bank's 1988 Loan Interest Rate Calculation

Gao ID: AFMD-89-30 November 10, 1988

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.



The Justia Government Accountability Office site republishes public reports retrieved from the U.S. GAO These reports should not be considered official, and do not necessarily reflect the views of Justia.