| Maturity: |
One year to thirty years. |
| Minimum Size: |
None. |
| Interest Rate: |
Fixed for the term (varies by maturity.) At the member's option, the first payment can be interest only. |
| Day count Fraction: |
30/360. |
| Monthly Payment: |
Principal and interest payment is a constant dollar amount throughout the life of the advance as specified in the related application. The Monthly Payment is typically based upon a 15-year or 30-year amortization schedule (other amortization schedules are available upon request.) The Monthly Payment is payable and charged to the member's DID account on the first calendar day of each month using the following business day convention. |
| Prepayment: |
Permitted pursuant to standard FHLBC policy. |
| Optional Redemption: |
Annually at a member's discretion beginning on the second anniversary, an amount not to exceed a fixed percent of the then current principal balance of the advance, subject to five days prior written notice. Unexercised redemption options expire. Upon exercise of a redemption option, the monthly payment declines pro rata. |
| Availability: |
Same-day funding is available for transactions initiated prior to 2 p.m. |
| CICA: |
Available. |
About Us
Publications
Printer Friendly Page