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HomeMy WebLinkAbout20071123Decision memo.pdfTO: FROM: DATE: RE: DECISION MEMORANDUM CO MMISSI 0 NER RED FO RD COMMISSIONER SMITH COMMISSIONER KEMPTON COMMISSION SECRETARY LEGAL WORKING FILE TERRI CARLOCK NOVEMBER 21 , 2007 ANNUAL DETERMINATION OF THE INTEREST RATES ON DEPOSITS COLLECTED FROM CUSTOMERS FOR THE CALENDAR YEAR 2008. CASE NO. GNR-07- The interest to be paid on customer deposits for the 2008 calendar year is determined by the twelve-month average interest rate from November 1 2006 through October 31 , 2007. This average rate is 4.79% as shown on the attached worksheet. Rounded to the nearest whole percent the rate will be 5%, with no change from the prior year. The following chart shows the interest rates for the various years and the Order numbers approving those rates. Calendar Year 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Interest Rate Order No. 21622 27167 22230 22836 23425 23971 24578 25242 25788 26233 26681 27248 27828 28234 28575 28896 29158 29386 29653 29932 30200 DECISION MEMORANDUM NOVEMBER 21 , 2007 APPENDIX ONE- YEAR TREASURY RATES Week Ended Rate %Week Ended Rate % 11/3/2006 5/4/2007 11/10/2006 5/11/2007 11/17/2006 5/18/2007 11/24/2006 5/25/2007 12/1/2006 6/1/2007 12/8/2006 6/8/2007 12/15/2006 6/15/2007 12/22/2006 6/22/2007 12/29/2006 6/29/2007 1/5/2007 7/6/2007 1/12/2007 7/13/2007 1/19/2007 7/20/2007 1/26/2007 7/27/2007 2/2/2007 8/3/2007 2/9/2007 8/10/2007 2/16/2007 8/17/2007 2/23/2007 8/24/2007 3/2/2007 8/31/2007 3/9/2007 9/7/2007 3/16/2007 9/14/2007 3/23/2007 9/21/2007 3/30/2007 9/28/2007 4/6/2007 10/5/2007 4/13/2007 10/12/2007 4/20/2007 10/19/2007 4/27/2007 10/26/2007 AVERAGE Source: Federal Reserve Treasury Rates One- Year Constant Maturities CO MMISSI 0 N D ECISI 0 N Should the interest rate to be paid on deposits collected from customers for the calendar year 2008 remain at 5%? ~-D~ Gt~cR Terri Carlock u/tcarloc/AnnDetIntRaesll-21-2007.TC DECISION MEMORANDUM NOVEMBER 21 2007