As specified in the application. Varies by product.
Minimum Size:
None.
Interest Rate:
Reset periodically. Interest is payable and charged to the member's DID account on the fifth calendar day of each month using the following business day convention.
Day Count Fraction:
Actual/360.
Index:
As specified in the application, varies by product (e.g. Prime.)
Reset Frequency:
As specified in the application, varies by product.
Reset Date:
As specified in the related application.
Determination Date:
As specified in the application, varies by product.
Determination Agent:
Federal Home Loan Bank of Chicago.
Notification to Borrower:
Initial Interest Rate determined at funding. At each reset, electronic updates will be available on eBanking.
Prepayment:
Permitted at par on each Reset Date, subject to prior notice or otherwise pursuant to standard FHLBC policy.
Availability:
Same-day funding is available for transactions initiated prior to 2 p.m. (Chicago time.)
Commitment:
Optional draw forward commitments are available at market rates for up to six months. Mandatory forward commitments are available for up to six months.
About Us
Publications
Printer Friendly Page