| Key Features
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- Special prepayment feature
- Fixed rate
- Fixed term
- Nonamortizing
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| Common Uses
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- Provide liquidity and enhance balance-sheet management.
- Fund fixed- and adjustable-rate mortgages.
- Fund commercial and consumer loans.
- Fund investment securities.
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| Maturities |
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| Minimum Advance
Size |
- $10 million per individual advance. Occasional specials
offered to members, with a minimum advance per member
of $1 million.
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| Disbursement
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- Next-day if requested by 3 p.m.
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| Payment of
Principal and Interest |
- Principal due at maturity and interest due monthly
on the second business day of the month.
- Interest is calculated on an actual/360-day basis.
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| Prepayment |
- Prepayable on any Boston business day for an amount
equal to the amount of the advance plus or minus the
Bank's loss or gain on the underlying swap (the approximate
market value of the advances), minus the present value
of two basis points per year to remaining maturity.
The amount of the gain on the prepayment of the underlying
swap passed through to the member (before subtracting
the two basis points per year) cannot exceed 10 percent
of the amount of the advance. Minimum prepayment of
$1 million. Estimated
prepayment fee table
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| More Information |
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