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Types of Advances We Offer


  • Adjustable Rate Credit (ARC)

    Adjustable Rate Credit advances provide intermediate and long-term funding with rate resets at periodic intervals. ARC advances are great for managing interest-rate risk and funding adjustable-rate loans.

  • Callable Adjustable Rate Credit

    The Callable Adjustable Rate Credit advance provides intermediate funding at a variable rate, tied to one-month or three-month SOFR, with the option to repay the advance on specified dates with no prepayment fee. The interest rate resets at periodic intervals, so pricing adjusts automatically to changing market conditions. Members can choose the advance term and rate reset period.

  • Community Investment Program

    Community Investment Program advances allow members to fund affordable housing while maintaining profit margins and minimizing risk. Members can obtain discounted advances that are priced up to 10 basis points below regular advances to support qualified affordable housing development.

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  • Compounding Advances

    Floating Rate advances tied to SOFR with a compounding daily average interest rate calculation.

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  • Convertible

    Convertible advances offer members discounted fixed-rate funding in exchange for selling the Bank the option to call/convert the advance at predetermined future date(s). The call/conversion option is available as European (one-time only) or Bermudan (at regularly stated intervals until maturity). If the Bank elects to call/convert the advance, the member has the option to repay the advance at par or let the structure convert to a floating rate advance.

  • Daily Rate Credit

    Provides overnight or short-term funding and the ability to prepay without a fee. Many of our members use Daily Rate Credit advances to provide liquidity and manage daily funding needs.

  • Economic Development Program

    Economic Development Program advances are priced up to 10 basis points below regular advance rates to help financial institutions and developers obtain funding for local economic development. The advance allows members to offer loans at lower rates, and with less interest-rate risk, to support projects that benefit low- to moderate-income communities.

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  • Embedded Interest Rate Swaps, Caps, and Floors

    Exchange interest payments for cash flow today with competitively priced swaps. Consider an interest rate cap or floor with highly customizable terms to protect against rising or falling interest rates.

  • Expander Advance

    The Expander advance offers fixed-rate borrowing for a fixed maturity with an option for the borrower to increase the original principal amount at some future fixed date. It's useful for replacing deposit runoff in a rising interest-rate environment.

  • Fixed Rate Credit

    Fixed Rate Credit advances help you meet short-term liquidity needs, manage your balance sheet, and mitigate interest-rate risk.

  • Floating-to-Fixed

    With the Floating-to-Fixed advance, the initial rate can be tied to three-month SOFR for a set period. After the initial period, the interest changes to a fixed rate for the remainder of the term. The member can also set either the fixed or floating rate to align the advance structure to their assets.

  • Forward Starting

    Forward Starting advances let members lock in a fixed interest rate now while delaying funding on the advance to a specific date in the future.

  • Principal Reducing Credit

    Principal Reducing Credit advances allow you to match-fund loans (or pool of loans) as well as investments that have periodic repayment of principal.