July 2023

In February of 1997, the Fiscal Assistant Secretary of the U.S. Department of the Treasury delegated to the Bureau of the Public Debt (now the Bureau of the Fiscal Service) the responsibility of providing interest rate certification to various agencies. The U.S. Department of Treasury certifies these rates for the month of July 2023.

The following tables contain rates certified for Treasury loans to government agencies.

Table 1 & Table 2 - Treasury Loans to Government Agencies
Table 3 - Other Treasury Borrowing Authorities

The following tables contain rates certified by the U.S. Department of the Treasury for various statutory purposes.

Table 1 & Table 2 - Treasury Loans to Government Agencies
Table 4 - Guam Development Fund Act
Table 5 - Department of Defense Arms Export Control
Table 6 - Other Specific Legislation

Table 1 - July 2023 Specific Maturities
(Updated July 3, 2023)
Maturity	Used for June 2023	Indicated for July 2023	Changes
1 Year	4-3/4%	5-1/8%	+3/8%
5 Years	3-1/2%	3-7/8%	+3/8%
15 Years	3-3/4%	4%	+1/4%
20 Years	3-7/8%	4-1/8%	+1/4%

Table 2 - July 2023 Range of Maturities
(Updated July 3, 2023)
From and Including	Up to but NOT Including	Rate
0 years - 3 months	0 years - 4 months	5-3/8%
0 years - 4 months	0 years - 6 months	5-1/2%
0 years - 6 months	0 years - 10 months	5-3/8%
0 years - 10 months	1 year - 0 months	5-1/4%
1 year - 0 months	1 year - 2 months	5-1/8%
1 year - 2 months	1 year - 4 months	5%
1 year - 4 months	1 year - 6 months	4-7/8%
1 year - 6 months	1 year - 8 months	4-3/4%
1 year - 8 months	1 year - 11 months	4-5/8%
1 year - 11 months	2 years - 2 months	4-1/2%
2 years - 2 months	2 years - 6 months	4-3/8%
2 years - 6 months	2 years - 11 months	4-1/4%
2 years -11 months	3 years - 6 months	4-1/8%
3 years - 6 months	4 years - 4 months	4%
4 years - 4 months	6 years - 11 months	3-7/8%
6 years - 11 months	12 years - 3 months	3-3/4%
12 years - 3 months	14 years - 7 months	3-7/8%
14 years - 7 months	18 years - 10 months	4%
18 years - 10 months	20 years - 4 months	4-1/8%
20 years - 4 months	28 years - 1 month	4%
28 years - 1 month	30 years - 1 day	3-7/8%

Table 3 - July 2023 Other Treasury Borrowing Authorities
(Updated July 5, 2023)
Legislation	Rate
Federal Railroad Administration - Settlement of RR Litigation	5.19%
Ocean Freight Differential	5.19%
Tennessee Valley Authority	2-1/2&percnt;

Table 4 - July 2023 Guam Development Fund Act
(Updated July 3, 2023)
Range of Maturities
From and Including	Up to but NOT Including	Rate
0 years - 3 months	0 years - 4 months	5-3/8%
0 years - 4 months	1 year - 0 months	5-1/2%
1 year - 0 months	1 year - 3 months	5-3/8%
1 year - 3 months	1 year - 5 months	5-1/4%
1 year - 5 months	1 year - 8 months	5-1/8%
1 year - 8 months	1 year - 11 months	5%
1 year - 11 months	2 years - 2 months	4-7/8%
2 years - 2 months	2 years - 6 months	4-3/4%
2 years - 6 months	2 years - 10 months	4-5/8%
2 years - 10 months	3 years - 3 months	4-1/2%
3 years - 3 months	3 years - 9 months	4-3/8%
3 years - 9 months	4 years - 6 months	4-1/4%
4 years - 6 months	5 years - 9 months	4-1/8%
5 years - 9 months	7 years - 7 months	4%
7 years - 7 months	10 years - 5 months	3-7/8%
10 years - 5 months	10 years - 7 months	3-3/4%
10 years - 7 months	13 years - 11 months	3-7/8%
13 years - 11 months	18 years - 8 months	4%
18 years - 8 months	19 years - 5 months	4-1/8%
19 years - 5 months	25 years - 1 day	4%

Table 5 - July 2023 Department of Defense Arms Export Control Act
(Updated July 3, 2023)
With respect to a monthly interest rate to be charged by the Department of Defense on **delinquent payments due on Foreign Military Sales** under the provisions of Section 21 and 22 of the Arms Export Control Act (22 U.S.C. 2761(d) and 2762(a)), the interest rate for the month of **June 2023 is 5.32%** and 4% should be added to this rate.

For **direct Foreign Military Sales credits** with 30-year repayment provisions, the interest rate is **3-7/8%**.

The following rates determined under provisions of 22 U.S.C. § 2771(c) apply for the placement of Foreign Military Sales direct credits. See also 22.U.S.C § 2763(c)(1).
From and Including	Up to but NOT Including	Rate
5 years - 0 months	5 years - 1 month	4-1/4%
5 years - 1 month	6 years - 7 months	4-1/8%
6 years - 7 months	8 years - 7 months	4%
8 years - 7 months	12 years - 1 day	3-7/8%

Table 6 - July 2023 Other Specific Legislation
(Updated July 5, 2023)
Legislation	Rate
Consolidated Farm and Rural Development Act	5-1/8%
Housing Act of 1937, Public and Indian Housing	5-1/8%
Housing Act of 1949, Rural Housing Service - 25 year rate	4%
Housing Act of 1949, Rural Housing Service - 5 year rate	3-7/8%
Housing and Urban Development Acts of 1968 and 1970	3-3/4%
Housing and Urban Development Housing Assistance Program	5-1/8%
Indian Financing Act of 1974	4%
Tennessee Valley Authority Act of 1933	2-1/2&percnt;