The FHLB Chicago's safekeeping
service provides a unique and distinct advantage for financial
institutions. When used in tandem with other FHLB Chicago
products, customers can obtain a package of financial
services that cannot be duplicated elsewhere. In addition,
all collected funds from coupon payments, security sales,
and maturities are automatically invested in the customer's
DID account, earning the FHLB Chicago's market interest
rate.
When pledging as collateral for an advance, FHLB Chicago safekeeping customers
also enjoy a greater loan value over collateral that is safekept elsewhere.
Standard Services
• Physical safeguarding of securities on deposit;
• timely collection and remittance of income earned on securities held in safekeeping;
• monthly account statement with month-end market value, as well as current balance of each
• mortgage-backed security;
• settlement of security transactions in accordance with client instructions; and<
• settlement date processing of purchases/sale transactions.
• Reports available on eBanking
Pledge
Service The FHLB Chicago provides several
unique custodial pledge options to meet various collateral
requirements. Customers may pledge instruments with the
FHLB Chicago under the secured deposit / custodial agreement
or as collateral for advances.
Fee Schedule for Safekeeping
Receipt / Delivery Book Entry
Security
$20.00
Receipt / Delivery DTC / PTC
Security
$20.00
Receipt / Delivery Physical Security
$50.00
Mortgage-Backed Monthly Remittance
$5.00
To or From Pledge Status
$30.00
Safekeeping Annual
Maintenance
Current Face Amount Under $5
mm Fee
$200.00
Current Face Amount Over $5 mm
Fee
$45.00/Million
Fees are calculated quarterly based
upon the outstanding balance on the last day of the quarter times
1/4 of the stated annual fee.
Trade instructions received after
10:00 a.m. on settlement date
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