A fixed interest rate can help financial institutions meet liquidity needs, manage the balance sheet, and mitigate interest-rate risk. The Federal Home Loan Bank of Chicago offers Fixed Rate Advances in a variety of structures and terms, allowing members to tailor their mix of liabilities to fit any management strategy.

Features Short Term Fixed Rate, Fixed Term Callable Fixed Rate Putable Fixed Rate Structured Payment Amortizer Level Payment Amortizer Constant PSA or CPR Amortizer Callable Amortizer Stepped Rate Expander/ Extender
Advance Code A120 A121 A122 A123 A260 A290 A291 A270 A280 A500
Minimum Size     $5mm $5mm       $5mm   $1mm
Term 1–27 days 28 days–
30 years
1–15 years 2 days–
10 years
1–30 years 1–30 years 1–30 years 1–30 years 1–30 years 1–20 years
Term Extension Option                  
Same-Day Funding (prior to 3:00 p.m.)
Available for Community Advances      
Principal Repayment At maturity At maturity At maturity At maturity Defined schedule Defined schedule Defined schedule Defined schedule At maturity At maturity
Principle Expansion Option                   2x
Prepayment Fee
Symmetrical Prepayment Feature    
Put Option Owned by FHLBank Chicago                  
Call Option Owned by Member                
Benefits Liquidity Laddered /barbell funding, hedge interest-rate risk Funding, hedge prepayment risk Below-market funding, hedge interest-rate risk Match funding, blended funding Match funding, blended funding Match funding, blended funding Match funding, blended funding Funding, hedge interest-rate risk Hedge asset duration and deposit run-off
For additional information on advance products and terms, please contact your Sales Director or review the Member Products Guide. Product terms above are subject to change. Other terms may be available upon request.