Hybrid Rate Advances allow members to convert from floating to fixed rates, and to embed options into advances with highly customizable terms, protecting against rising or falling rates.

 

FeaturesPutable Floating-to-Fixed Rate*Floating-to-Fixed Rate*Capped Floater*Collared Advance*Net Interest Margin Protection*
Advance CodeA370A371A390A402A420
Minimum Size$5mm$5mm$5mm$5mm$5mm
Term1–10 years1–20 years180 days–10 years1–10 years180 days–10 years
Same-Day Funding (prior to 3:00 p.m.)•••••
Available for Community Advances ••••
Rate TypeFloating; later converts to fixedFloating; later converts to fixedFixed spread to floating indexFloating within collarFloating within collar
Rate Cap  •••
Rate Floor ( > 0%)   ••
RepaymentAt maturityAt maturityAt maturityAt maturityAt maturity
Prepayment Fee•••••
Symmetrical Prepayment Feature    •
Put Option Owned by FHLBank Chicago•    
Activity Stock4.5% or 2%4.5% or 2%4.5% or 2%4.5% or 2%4.5% or 2%
BenefitsBelow-market funding, liquidityBelow-market funding, liquidityHedge duration/convexityHedge duration/convexityHedge duration/convexity
*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.