one-year rate

(3) One-year rate For the purposes of this section, “one-year rate” for a fiscal year means a rate determined by the Secretary of the Treasury, taking into consideration prevailing market yields, during the month preceding the beginning of the fiscal year, on outstanding interest-bearing obligations of the United States with periods to maturity of approximately one year.


16 USC § 838l(f)(3)

Scoping language

For the purposes of this section
Is this correct? or