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*Fixed Rate Amortizer
Advance CodeA120A121A122A123A290
Interest Rate TypeFixedFixedFixedFixedFixed
Minimum Size  $5mm$5mm 
Term1–27 days28 days–
30 years
1–15 years2 days–
10 years
1–30 years
Term Extension Option     
Principal Expansion Option     
FHLBank Chicago-Owned Embedded Option   Putable on specified put date(s) 
Member-Owned Embedded Option  Callable on specified call date(s)  
Principal RepaymentAt maturityAt maturityAt maturityAt maturityDefined schedule
Prepayment Fee
Symmetrical Prepayment Feature Availability

Community Advances Eligibility

Activity Stock4.5% or 2%4.5% or 2%4.5% or 2%4.5% or 2%4.5% or 2%
UsesLiquidityLaddered /barbell funding, hedge interest-rate riskFunding, hedge prepayment risk, hedge interest-rate riskBelow-market fundingMatch funding, blended funding

Same-day funding is available for transactions initiated prior to 3 p.m. (Central Time).

*The member must review and provide acknowledgement of a disclosure statement regarding the risks associated with this advance.

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.