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.

FeaturesShort TermFixed Rate, Fixed TermCallable Fixed RatePutable Fixed Rate*Structured Payment AmortizerLevel Payment AmortizerConstant PSA or CPR AmortizerCallable Amortizer*Stepped RateExpander/ Extender*
Advance CodeA120A121A122A123A260A290A291A270A280A500
Minimum Size  $5mm$5mm   $5mm $1mm
Term1–27 days28 days–
30 years
1–15 years2 days–
10 years
1–30 years1–30 years1–30 years1–30 years1–30 years1–20 years
Term Extension Option         
Same-Day Funding (prior to 3:00 p.m.)
Available for Community Advances   
Principal RepaymentAt maturityAt maturityAt maturityAt maturityDefined scheduleDefined scheduleDefined scheduleDefined scheduleAt maturityAt maturity
Principle Expansion Option         2x
Prepayment Fee
Symmetrical Prepayment Feature  
Put Option Owned by FHLBank Chicago         
Call Option Owned by Member        
BenefitsLiquidityLaddered /barbell funding, hedge interest-rate riskFunding, hedge prepayment risk, hedge interest-rate risk Below-market fundingMatch funding, blended fundingMatch funding, blended fundingMatch funding, blended fundingMatch funding, blended fundingFunding, hedge interest-rate riskHedge asset duration and deposit run-off
* From now until March 31, 2020, members can continue to execute the advance products with a LIBOR component with no tenor restrictions as long as the transactions settle by March 31, 2020. Beginning April 1, 2020, members can still transact the indicated advance products with a LIBOR component as long as they mature by December 31, 2021. Beginning April 1, 2020, transactions with maturities settling beyond December 31, 2021, are expected to be suspended. 

 

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.