Full text of Federal Reserve Bank of New York Circulars : 6282. Interest Rate Increased to 6.625 Percent on CCC Certificates of Interest

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F E D E R A L R E S E R V E BA N K
OF N EW YORK
Fiscal Agent of the Commodity Credit Corporation

r C ircu la r N o . 6 2 8 2 * 1
L J a n u a ry 29, 1969 J

Interest Rate Increased to 6.625 Percent
on CCC Certificates of Interest

To All Incorporated Banks and Trust Companies, and Others
Concerned, in the Second Federal Reserve D istrict:

The following statement was made public January 10 by the U. S. Department
of Agriculture:
The interest rate payable on certificates of interest issued by the Commodity Credit
Corporation to financial institutions participating in the financing of crop priee-support loans
will be 6.625 percent yearly, beginning January 15, 1969, the U. S. Department of Agricul­
ture announced today.
The present interest rate is 6.0 percent.
The increased interest rate is in line with recent trends and is being made to encourage
continued participation in financing the Commodity Credit Corporation loan program USD A
officials said.
Financial institutions which have funds invested in pmce-support loans will earn interest
on their investment at 5.875 percent yearly from the date of investment through and includ­
ing August 24, 1968, 5.375 percent yearly from August 25, 1968 through and including
October 23, 1968, 5.625 percent yearly from October 24, 1968 through and including Decem­
ber 7, 1968, 6.0 percent yearly from December 8 , 1968 through and including January 14,
1969, and 6.625 percent yearly thereafter until changed.
To acquire certificates apply t o : Director, Data Processing Center, Agricultural Stabili­
zation and Conservation Service, Post Office Box 205, Kansas City, Mo., 64141. Phone num­
ber 816/361-0860, Ext. 6521. Application may be made by telephone, telegram, or letter.
Each application shall give the name, address and transit number of the applicant, and the
amount of requested participation by certificate denominations.




A

lfred

H

ayes,

President.