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October 31, 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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