Trust Certificate Rate Law and Legal Definition
Pursuant to 13 CFR 107.50 [Title 13 -- Business Credit And Assistance Chapter I -- Small Business Administration], the term Trust Certificate Rate means “a fixed rate determined by the Secretary of the Treasury at the time Participating Securities or Debentures are pooled, taking into consideration the current average market yield on outstanding marketable obligations of the United States with maturities comparable to the maturities of the Trust Certificates being guaranteed by SBA, adjusted to the nearest one-eighth of one percent.”
