GroundRules
7 CFR 1785.69: Cushion of credit payment account computations.
Where this section sits in the code
- Title 7—Agriculture
- Subtitle B—Regulations of the Department of Agriculture
- CHAPTER XVII—RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE
- PART 1785—LOAN ACCOUNT COMPUTATIONS, PROCEDURES AND POLICIES FOR ELECTRIC AND TELEPHONE BORROWERS
- Subpart B—RUS Cushion of Credit Account Computations and Procedures
(a) Deposits. Cushion of credit deposits are credited to the borrowers' cushion of credit accounts as of December 20, 2018, with no further deposits accepted after that date.
(b) Interest. Interest at the rate provided for in § 1785.68 will be credited on a quarterly basis to cushion of credit accounts. Interest earned will appear as a reduction in the interest billed on the borrower's RUS notes and will be separately shown on RUS Form 694, “Statement of Interest and Principal Due.”
Collected 2026-08-27T02:24:01Z. Source file · JSON