| Key Features
|
- Fixed rate
- Fixed term
- Nonamortizing
|
| |
|
| Common Uses
|
- Provide liquidity and enhance balance-sheet management.
- Fund construction lending.
- Fund fixed- and adjustable-rate mortgages.
- Fund commercial and consumer loans.
- Temporarily fund loans that will be sold.
|
| |
|
| Maturities |
- Two days through 20 years.
|
| |
|
| Disbursement
|
- Next-day if requested by 3 p.m.
- Same-day possible if you call by noon.
|
| |
|
| Payment of
Principal and Interest |
- Principal due at maturity and interest due monthly
on the second business day of the month.
- For maturities of one year or less, you may
choose to pay principal and interest at maturity.
- Interest is calculated on an actual/360-day basis.
|
| |
|
| Prepayment |
- Any Classic advance with a maturity of more than
six months is prepayable, subject to a fee.
|
| |
|
| Forward Rate
Commitments |
- Lock in a guaranteed rate up to two years before
disbursement.
- Our forward rate commitment adds a premium to the
current rate.
|
| |
|
| Automatic Discount
|
- We will give you an automatic discount off the posted
rate on any Classic advance with a maturity of more
than one year if your advances-to-assets
ratio is 10 percent or more.
| |
If Your Advances-
to-Assets Ratio Is: |
Your Automatic Discount
Will Be: |
| |
10 percent or more |
1 basis point |
| |
15 percent or more |
2 basis points |
| |
20 percent or more |
3 basis points |
|
| |
|
| Risks |
- The Federal Home Loan Bank of Boston does not
act as a financial adviser, and members should independently
evaluate the suitability and risks of these advances.
Please see the Classic
Advance Primer for a discussion
of the risks and other considerations associated
with the Classic advance.
|
| |
|
| More Information |
|
