[bfi_interested_parties] Interest on Escrow Accounts

[Solomon, Christine L]

> The Federal Reserve System has updated their Statistical Release (Schedule H.15).  In accordance with Title 9-B MRSA §429(2) and Bureau of Financial institution Bulletin #76, the value of the selected index (the average yield on United States Treasury Securities, adjusted to a constant maturity of one year (1-year Treasury Index)) reported on the first business day of 2008, or January 2, 2008, is 3.17.  Therefore, the minimum interest rate which must be paid on mandatory escrow accounts for the calendar year 2008 is 1.585.  This information is also posted on the Bureau's website at http://www.maine.gov/pfr/financialinstitutions/escrow.htm.
> 
> *****************************************
> Christine L. Solomon, Secretary Associate
> Maine Bureau of Financial Institutions
> 36 State House Station
> Augusta, ME 04333-0036
> Telephone:  (207) 624-8572
> Fax:  (207) 624-8590
> 
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> 
> 
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