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*
Advance CodeA370
Interest Rate TypeFloating, later converts to fixed
Floating Rate IndexSecured Overnight Financing Rate (SOFR)
Interest Rate Cap(s)
Interest Rate Floor(s) 
Minimum Size$5mm
Term1 - 10 years
FHLBank Chicago Owned-Embedded OptionPutable on specified put date(s)
Member Owned Embedded Option 
Principal RepaymentAt maturity
Prepayment Fee
Symmetrical Prepayment Feature Availability 
Community Advance Eligibility 
Activity Stock4.5% or 2%
UsesBelow-market funding, liquidity

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.