FHLBank Chicago Pricing Specials
See the table below for a quick breakdown of our current Advance pricing specials:
|Early Bird Discounts||2 bps||A120 Short-Term||Must be submitted before 10 a.m.|
Term: <=27 days
|A121 Fixed-Rate Advance||Must be submitted before 10 a.m.|
Term: 1-month and 3-month
|Longer-Term Advance Specials||5 bps||A121 Fixed-Rate Advance||Minimum Principal Per Advance: $1M|
Term: 6 Months -10 years
Forward Starting: Up to 1 year for advances greater than 1-year term.
|A290 Fixed-Rate Amortized||Minimum Principal Per Advance: $1M|
Term: 5-20 years
Forward Starting: Up to 1 year
|A122 Callable Fixed-Rate Advance||Minimum Principal Per Advance: $1M|
Term: 2-5 years
Forward Starting: Up to 1 year
To execute, please contact our Member Transactions Desk (MTD) at 855.345.2244, option 1. For more information, the details of each special are below.
Early Bird Discounts
We are offering an early bird discount of 2 basis points (bps) pricing discount from our regular advance rate for certain advances executed before 10 a.m.:
- Short Term Advances (A120)
- Fixed Rate, Fixed Term Advances with 1- and 3-month maturities (A121)
Now you can earn additional pricing discounts when your A120 advance borrowing amounts are higher than $250 million. This additional pricing discount results in a negative cost of funds, factoring in the dividend and discount on advance rate!
|A120 Price Comparisons||Regular Rate (as of 11/10/22)||Discounted Rates (as of 11/10/22)||All-In Rate Cost of Funds*|
|Any size after 10 a.m.||3.890%||3.890%||3.700%|
|Early Bird: < $250 million||3.890%||3.870%||3.680%|
|Early Bird: >= $250 million||3.890%||3.860%||3.670%|
|Early Bird: >= $1 billion||3.890%||3.855%||3.665%|
|Early Bird: >= $2 billion||3.890%||3.850%||3.660%|
|*All-in rate cost of funds factors in pricing discount and dividend earned on B1 activity stock at a projected rate of 6.50% for Q4 2022 payable in Q1 2023|
Some of these advances can be executed on eBanking. Pricing specials on advances greater than $250M must be called in. These rates and pricing discounts can change daily - please contact MTD for the most current rate at 855.345.2244, option 1.
Long-Term Advance Special Discounts
We have extended and expanded our existing five basis point long-term advance discount program. The daily maximum limit is $30 million across all three specials.
- All advances must be fully capitalized and are not eligible for the Reduced Capitalization Advance Program (RCAP).
- Members may execute multiple specials in a day, but individual terms apply and discounts cannot be combined.
- Daily maximum of $30 million principal value inclusive of all three specials.
- Eligible February 23, 2023.
Terms and conditions are subject to change and are updated here. These advance specials are not eligible for RCAP. Current advance rates pre-discount can be found on the daily rate sheet. To execute, you must call MTD at 855.345.2244, option 1. Advances executed on eBanking are not eligible for the pricing discount.
Extended and Expanded MPF Traditional Pricing Special
Since our last Notes From the Mortgage Desk in May, the mortgage markets have continued to experience high volatility. Mortgage rates are up dramatically due to inflationary pressures and Fed actions, stifling home affordability for many buyers.
To alleviate some of the overall market pressure, we are extending our targeted pricing special announced in May and improving prices across all MPF Traditional products! The Mortgage Partnership Finance® (MPF) price specials could lead
to a "bump" in price in certain note rates.
Pricing Special Details:
- The pricing specials begin on September 15, 2022 and end on or before December 31, 2022
- Improved pricing across all MPF Traditional products!
- Extended: Additional price benefit for 30-year conforming loans that meets the following criteria:
- Any loan size above $250K
- Intended to include the prevailing mortgage rate, plus the two production rate below the mortgage rate, adjusted daily
- All Participating Financial Institutions (PFIs) are eligible, subject to existing volume caps
Login to eMPF® to monitor the pricing benefits. Take advantage by simply executing a delivery commitment!
Contact your Sales Director for more information.
In addition, certain information provided on this page speaks only as of the particular date or dates included, and the information may have become out of date. FHLBank Chicago does not undertake an obligation, and disclaims any duty, to update any of the information included on this page. Because the situation relating to the LIBOR transition continues to evolve, information here may become stale at any given time.