Interest Rate

The Treasury Current Value of Funds Rate (CVFR) used to calculate interest on overdue Federal Government receivables (Treasury Financial Manual (TFM), I TFM 6-8040.40). Interest charged is at the rate of simple interest in effect at the time the debt becomes overdue (unless a different rate is prescribed in a repayment schedule). The rate of interest remains fixed for the duration of the indebtedness [31 CFR 901.9(3)]. The CVFR is available on the Treasury website at http://www.fms.treas.gov. Treasury also provides a recorded message with the current rate at 202-874-6995, accessible 24 hours a day. DOE may assess a higher interest rate if it is reasonably determined that a higher rate is necessary to protect the interests of the United States. The reasons for a higher rate must be documented.