Once your financial institution is approved for membership in the Federal Home Loan Bank of Chicago, additional steps are required to gain full access to our products and services. To learn more, contact us at membership@fhlbc.com.
Getting Started
The Capital Plan is a governing document that lists members’ capital requirements. Read the Second Amended and Restated Capital Plan effective October 1, 2015, here. Select requirements and authorized ranges in effect as of April 1, 2016, for our Second Amended and Restated Capital Plan are detailed below:
A member’s minimum investment requirement is whichever is greater: the membership stock requirement or the activity stock requirement.
Membership Stock Requirement
A minimum level of stock is required to become a member:
Current Requirement |
Board-Authorized Range |
||
Minimum |
Maximum |
||
% of Mortgage Assets |
0.40% |
0.20% |
2.0% |
Membership Stock Floor |
$10,000 |
$500 |
$20,000 |
Membership Stock Cap1 |
$5 million |
$10,000 |
$75 million |
B2/B1 Threshold2 |
$10,000 |
$10,000 |
$75 million |
Activity Stock Requirement
Additional stock may need to be purchased to support borrowings:
Current Requirement |
Board-Authorized Range |
||
Minimum |
Maximum |
||
Advances Stock Requirements |
4.5% |
4%3 |
6% |
Acquired Member Asset (AMA) Stock Requirement |
0% |
0% |
6% |
1 The Membership Stock Cap is the lesser of (1) a dollar amount set by the Board of Directors in the authorized range shown above (currently $5 million) or (2) 9.9% of the Bank’s total capital stock on December 31 of the prior year (currently, $5 million is the operative cap).
2 The amount of a member’s Class B2 Stock that exceeds this $10,000 “threshold” and is necessary to support the member’s activity stock requirement is automatically converted to Class B1 Stock.
3 The Board of Directors may adjust this percentage to as low as 2% for certain advances and has currently authorized a pool of funds available for advances that can be capitalized at 2% under the Bank’s Reduced Capitalization Advance Program.
Before a member can take advantage of the FHLBank Chicago’s products and services, members must:
- Sign and execute documentation
- Pledge and report eligible collateral