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April 30, 2008
Overnight advances are repayable at any time, in any amount.
The following prepayment provisions apply, unless noted differently
in a particular advance agreement:
- Advances with original maturities of six months or less,
certain LIBOR-Indexed advances and Prime-Indexed advances
may not be prepaid. In the event that, for any reason, such
an advance becomes due and payable prior to its originally
scheduled maturity date, the Bank will charge a prepayment
fee sufficient to render the Bank indifferent to such prepayment.
As noted in the advance contract, certain adjustable-rate
advances are prepayable at rate-reset dates with a fee equal
to the present value of a predetermined spread for the remaining
life of the advance.
- Advances with original maturities of greater than six months
may be prepaid at any time upon 24 hours notice. The formulas
for the calculation of prepayment fees for the Bank's
advances products are included in the advance application
for each product. The advance applications for the Bank's
current products are included in Appendix
F. If you have any questions regarding the calculation
of prepayment fees on an advance product, please contact
the Bank's Money Desk at moneydesk@fhlbboston.com
or 1-800-357-3452.
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