| Key Features |
- Special prepayment feature
- Fixed rate
- Fixed term
- Nonamortizing
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| Common Uses |
- 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 |
- 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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