Terms and Conditions: Advance Specials Extended

Members may receive a 5 basis point discount to the regular advance rate under the following conditions:

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Universal Terms for All Specials

  • Eligible through June 30, 2021.
  • 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 $50 million principal value inclusive of all three specials.


Specifics of Each Special

1. Ladder of Fixed-Rate Fixed-Term Advances (A121)

Applies to three or more fixed-rate fixed-term advances (A121) executed at the same time with the following conditions:

  • The principal value of each advance must be at least $500,000 or greater.
  • The maturity date of each advance must be at least two years or greater than the settlement date, and cannot exceed 15 years from the settlement date.
  • The maturity date of each advance must be at least six months apart from other advance’s maturity dates within this special.
  • Members may forward start the ladder of advances, but the settlement dates cannot exceed one year from the execution dates.

 

2. Single Fixed-Rate Fixed-Term Advance (A121)
Applies to any fixed-rate fixed-term advance (A121) with the following conditions:

  • The principal value must be at least $3,000,000 or greater.
  • The maturity date must be at least three years or greater than the settlement date, and cannot exceed 10 years from the settlement date.
  • Members may forward start the advance, but the settlement date cannot exceed one year from the execution date.


3. Single Fixed-Rate Amortizing Advances (A290)

Applies to any individual fixed-rate amortizing advance (A290) with the following conditions:

  • The principal value must be at least $1,000,000 or greater.
  • The maturity and amortization date must be at least five years or greater than the settlement date, and cannot exceed 20 years from the settlement date.
  • Members may forward start the advance, but the settlement date cannot exceed one year from the execution date.


Questions?

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