The Federal Home Loan Bank of Chicago (FHLBank Chicago) will be offering a SOFR-indexed advance on Thursday, February 28, as we continue to prepare for the planned phase out of the London Interbank Offered Rate (LIBOR) by December 31, 2021. 

What’s next for FHLBank Chicago?
The SOFR-indexed advance will be offered on a special basis in the Daily Rate Indications and Morning Market Update emails that members receive each morning. The full term sheet is currently available in the Member Product Guide in eBanking as an A300 adjustable advance. 

If you are interested in floating rate advances indexed to SOFR, please contact your Sales Director to learn more.