INTEREST 4. 1 The interest rate applicable to a Loan shall be the rate, as from time to time established by the Treasury. Interest on a Loan shall accrue from the day the Loan is credited to the Account and shall be payable at the applicable rate in effect on that day, except that if the interest rate changes while a Loan is outstanding, the new rate shall apply as of the day on which the rate change is effective. Interest shall be computed on the basis of 365 days in a year.
Appears in 6 contracts
Samples: Treasury Lending Agreement (Federal Home Loan Bank of San Francisco), Treasury Lending Agreement (Federal Home Loan Bank of New York), Treasury Lending Agreement (Federal Home Loan Bank of Pittsburgh)
