Effective interest rates are calculated by Wells Fargo Corporate Trust Services after receipt of debenture pricing provided by the DCF LLC Fiscal Agent every month.
Wells Fargo Corporate Trust Services provides the Effective Rates each month. They are posted here as soon as they are received.
20-year debentures are pooled and sold on Wall Street the first Thursday of the first full week of each month (beginning and including Sunday). 10-year debentures are pooled and sold the first Thursday of the first full week of every other month (beginning and including Sunday) starting with the January sale.. This day change is a variation from previous years and provides the Underwriters a more concise period to effectively market the Certificates. For the exact dates, see the Table of 504 Debenture Pricing and Funding Dates.
Effective rates are posted on this site as soon as received.
If you have questions on how 504 Effective Interest Rates are calculated, the DCF LLC Fiscal Agent prepared the following presentation containing detailed information on funding a 504 loan and how the debenture and effective interest rates are determined. The presentation is available here.
Please Note: The series for zero subsidy has been discontinued. Effective rates are calculated using the methodology explained in the March 26, 1999 letter from Mark Barbash, then DCF LLC President. A copy of this letter is available here as a pdf file.
The following list provides tables for each month showing the 504 Effective Rates. The tables are in .pdf format and can be opened using Adobe Acrobat reader.
