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 AmortizerCallable Fixed Rate Amortizer*Expander/ Extender*
Advance CodeA120A121A122A123A290A270A500
Minimum Size  $5mm$5mm $5mm$1mm
Term1–27 days28 days–
30 years
1–15 years2 days–
10 years
1–30 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 scheduleAt 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 fundingHedge asset duration and deposit run-off
*Beginning on December 31, 2021, transactions of new advance products with a LIBOR component have been 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.