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Title 7: Agriculture
Subtitle B: Regulations of the Department of Agriculture (Continued)
CHAPTER XVII: RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE (CONTINUED)
PART 1785: LOAN ACCOUNT COMPUTATIONS, PROCEDURES AND POLICIES FOR ELECTRIC AND TELEPHONE BORROWERS
Subpart B: RUS Cushion of Credit Account Computations and Procedures
1785.69 - Cushion of credit payment account computations.
(a) Deposits. Cushion of credit payments are credited to the borrowers' cushion of credit accounts.
(b) Interest. Interest at the rate of 5 percent per annum shall 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.?
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