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e-CFR data is current as of February 25, 2021

Title 7Subtitle BChapter XVIIPart 1785Subpart B → §1785.69


Title 7: Agriculture
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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