Here are the results of some recent specials. Be sure to check our current and upcoming specials for similar opportunities.

August 20, 2008 - Long-Term Bullet Advance Special
On August 20, the Money Desk offered an aggressively priced long-term bullet special for multiple maturities.

Term	Rate
2-year	3.49 percent
3-year	3.86 percent
5-year	4.27 percent

Looking to take advantage of lower-priced, long-term funding, 10 members took advantage of this special offering, borrowing $45 million in discounted funding. Participating members realized discounts of up to three basis points off the Bank's posted advance rates.

Watch here for additional upcoming opportunities to borrow discounted long-term funding through long-term bullet and other special advance offerings. Contact the Money Desk with any interest or questions.

August 19, 2008 - Tuesday and Thursday Markdowns - August 21, 2008
On August 19 and August 21, a total of 26 members took down more than $865 million through our Tuesday and Thursday markdown special offerings. Participants received discounts of three basis points off Classic advance rates.

The special offerings of advances were priced as follows:

Tuesday Markdown:


• One-month: 2.43 percent
  
  
• Two-month: 2.55 percent
  
  
• Three-month: 2.68 percent
  
  
• Six-month: 2.99 percent
  
  
• 12-month: 3.07 percent

Thursday Markdown:


• One-month: 2.47 percent
  
  
• Two-month: 2.63 percent
  
  
• Three-month: 2.80 percent
  
  
• Six-month: 3.08 percent
  
  
• 12-month: 3.07 percent

July 15, 2008 - HLB Option Advance
On July 15, the Money Desk offered an aggressively priced HLB Option advance special. Offering members a sizeable discount to posted advance rates of similar term, this HLB Option structure allowed members the opportunity to take advantage of current market conditions and benefit by securing submarket funding. The details of this week's offering are listed below:

Offer Date	Final Maturity	Lockout	Rate	Spread to Posted Advance Rate
15-JUL	10 years	5-year (one-time call)	3.75 percent	47 basis points

Twenty-two members took advantage of the special, borrowing in excess of $90 million in the offered structure. Priced below many CD specials currently being offered by members, this special, as well as other recently offered HLB Option specials, offered an attractively priced alternative to many competitive funding sources.

Watch here for additional, aggressively priced HLB Option and HLB Option Plus Cap advance specials, structured specifically to offer members access to below market funding.