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 Cap  
Rate Floor ( > 0%)   
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
* From now until March 31, 2020, members can continue to execute the advance products with a LIBOR component with no tenor restrictions as long as the transactions settle by March 31, 2020. Beginning April 1, 2020, members can still transact the indicated advance products with a LIBOR component as long as they mature by December 31, 2021. Beginning April 1, 2020, transactions with maturities settling beyond December 31, 2021, are expected to be 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.