FPAC-N FMD-059 1

U.S. DEPARTMENT OF AGRICULTURE

Farm Production and Conservation Mission Area

Business Center

Washington, DC 20250

FPAC NOTICE FPAC-N FMD-059

Subject: April 2024 CCC Commodity Loan, Marketing Assistance 

Loan (MAL), Farm Storage Facility Loan (FSFL), and 

Sugar Storage Facility Loan (SSFL) Interest Rates

Effective Date:

March 29, 2024

Approved by:

/s/ Lucas Castillo

Chief Financial Officer

Farm Production and Conservation Business Center

Expiration Date:

April 30, 2024

1. PURPOSE

a. This notice:

(1) Is applicable only to FSA; and

(2) Announces the CCC programs’ various interest rates for April 2024.

b. Background

(1) Under the provisions of the Federal Agriculture Improvement and Reform Act of 

1996, as amended (7 U.S.C. 7283), 1996 and subsequent crop year commodity loans 

will accrue interest at a rate of one percentage point higher than the CCC borrowing 

interest rate.

(2) The Conservation Reserve Program and loan deficiency overpayment refunds will 

continue to accrue interest at the CCC borrowing interest rate whenever the interest 

rate is based upon the CCC borrowing rate that was in effect on the day the 

overpayment occurred.

(3) The FSFL and SSFL program loans accrue interest at an interest rate equivalent to the 

rate of interest charged on Treasury securities with comparable maturity.

(4) The CCC’s borrowing interest rate as of January 1 for all outstanding CCC loans of 

any year will be adjusted to reflect CCC’s cost of borrowing funds from the U.S. 

Treasury as of such date, plus one percent. CCC will announce the interest rates 

applicable to CCC loans, which will remain effective until the loan is either repaid, 

forfeited, or the succeeding January 1.
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2. SOURCES OF AUTHORITY

a. Federal Agriculture Improvement and Reform Act of 1996

b. 7 CFR 1436.12(a), Interest and fees

c. 7 CFR Part 1405, Loans, Purchases, and Other Operations

3. APPLICABILITY OF INTEREST RATES

These interest rates:

(1) Apply to all regular commodity loans, MALs, and selected program overpayments

disbursed during April 2024, as specified in section 4;

(2) Are subject to adjustment each succeeding January 1, except where noted;

(3) Apply to FSFL activity based on the date CCC-185D, Determination for Farm 

Storage Facility Loan Program, is marked “approved pending funding” by the County

Committee (COC) or State Committee (STC) and remain in effect for the term of the 

loan; and

(4) Apply to SSFL activity based on the date CCC-185-SU, Sugar Storage Facility Loan 

Program, is marked “approved pending funding” by the Deputy Administrator for 

Farm Programs (DAFP) and remain in effect for the 15-year term of the loan.

4. INTEREST RATES

Interest rates for April 2024 are:

(1) 5.000 percent per annum for CCC borrowing rate-based interest charges;

(2) 6.000 percent per annum for crop year commodity loans, including MAL, less than 

1 year;

(3) 4.375 percent per annum for FSFL CCC-185s “approved pending funding” during 

April 2024 by COCs or STCs with 3-year loan terms;

(4) 4.250 percent per annum for FSFL CCC-185s “approved pending funding” during 

April 2024 by COCs or STCs with 5-year loan terms;

(5) 4.250 percent per annum for FSFL CCC-185s “approved pending funding” during 

April 2024 by COCs or STCs with 7-year loan terms;

(6) 4.250 percent per annum for FSFL CCC-185s “approved pending funding” during 

April 2024 by COCs or STCs with 10-year loan terms;

(7) 4.250 percent per annum for FSFL CCC-185s “approved pending funding” during 

April 2024 by COCs or STCs with 12-year loan terms; and
FPAC-N FMD-059 3

(8) 4.375 percent per annum for SSFL CCC-185-SUs “approved pending funding” during 

April 2024 by DAFP with 15-year loan terms.

5. CONTACT

Submit questions about this notice to FMD, Financial Operations Branch, Payment Operations 

Section through FPACNow according to the following instructions:

(1) From the FPACNow homepage, select the “Financial Management” tile;

(2) Select “Financial Management;”

(3) In the “Request Type” field, select “Payment Operations” from the drop-down menu;

(4) In the “Request Type Subcategory” field, select “FSA/CCC National Payments” from 

the drop-down menu;

(5) In the optional “Requesting On Behalf of” field, enter the name or email address if 

this request is being entered for someone else;

(6) In the optional “Watch List” field, enter the email addresses of anyone who needs to 

receive status updates regarding the request;

(7) In the “Request Description” field, provide a summary of the request;

(8) Use “Add attachments” to add any relevant attachments; and

(9) Click “Submit” to complete the request.