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.

 

Features Putable Floating-to-Fixed Rate Floating-to-Fixed Rate Capped Floater Collared Advance Net Interest Margin Protection
Advance Code A370 A371 A390 A402 A420
Minimum Size $5mm $5mm $5mm $5mm $5mm
Term 1–10 years 1–20 years 180 days–10 years 1–10 years 180 days–10 years
Same-Day Funding (prior to 3:00 p.m.)
Available for Community Advances  
Rate Cap    
Rate Floor ( > 0%)      
Prepayment Fee
Symmetrical Prepayment Feature        
Put Option Owned by FHLBank Chicago        
Activity Stock 4.5% or 2% 4.5% or 2% 4.5% or 2% 4.5% or 2% 4.5% or 2%
Benefits Below-market funding, liquidity Below-market funding, liquidity Hedge duration/convexity Hedge duration/convexity Hedge duration/convexity
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.