1998 interest rate on Title XII unemployment advances

U.S. DEPARTMENT OF LABOR
Employment and Training Administration
Washington, D.C. 20210

Classification: UI
Correspondence Symbol: TEUFA
Issue Date: August 6, 1998
Rescissions: None
Expiration Date: August 6, 1999

DIRECTIVE: UNEMPLOYMENT INSURANCE PROGRAM LETTER NO. 39-98
TO: ALL STATE EMPLOYMENT SECURITY AGENCIES
FROM: GRACE A. KILBANE, Director, Unemployment Insurance Service
SUBJECT: Interest Rate on Title XII Advances During Calendar Year 1998

1. Purpose. To announce the rate of interest the U.S. Treasury Department will charge on Title XII advances during calendar year 1998.

2. Background. The criteria for establishing the rate of interest to be charged on Title XII advances during any calendar year are in Section 1202(b)(4) of the Social Security Act.

3. Calendar Year 1998 Interest Rate. The U.S. Treasury Department has announced that the rate of interest to be charged for calendar year 1998 is 6.71 percent.

4. Action Required. None.

5. Inquiries. Direct questions to the appropriate Regional Office.