• Overview
• Advance Types
• Advances Product Guide
• Credit Policy
• Capital Stock Plan

Overview

The primary credit mission of the Bank is to provide its members a reliable source of credit to finance housing, small business, rural and agricultural loans.  Advances enhance the financial strength of our members by providing a vehicle to match fund residential mortgage loans, fund deposit withdrawals and meet seasonal liquidity needs.

The use of advances also enables members to reduce the impact of rate volatility.  As a result, members are more competitive as they offer longer term, fixed rate loans to their customers.  Advance maturities range from overnight to 30 years, which allows flexibility in selecting the maturity that best complements a member's financial strategy.  In addition, the FHLB Dallas provides a commitment plan that permits guaranteed availability and rate for future term borrowings.   Advances are offered at fixed or floating rates with specific maturities or with embedded options for early redemption.
 

Advance Types

Advances are divided into four general categories as follows:

SecureConnect Advances - Short-term maturities executed on SecureConnect overnight to 28 days.
Fixed Rate Advances - 31 days to 20 years
Floating Rate Advances- 1 to 5 years
Standard Advances - short-term maturities requested by telephone - overnight to 35 days.

SecureConnect Pricing is the lowest rate for regular advances. This rate is available for advances executed through SecureConnect. The Standard Rate is available for advances executed by telephone. Advances may also be structured to meet specific terms not reflected on the daily rates. 

The Bank's Member Sales Officers are available at (800) 442-9841 to assist members in structuring these advances as well as advances not executed through SecureConnect.
 

SECURECONNECT ADVANCES 
Short-Term Maturities

	Term	Interest Rate	Interest  Day Count	Availability
Maximizer  (MAX)	Overnight, fixed	Priced daily based on fed funds market.	Actual/360	-  Member executes advance on SecureConnect by  9:00 a.m. CT. -  No cap. -  Does not count against $50 million  SCS cap.
Maximizer (MAX)	Floater,  up to 30 days	Floating rate, adjusting daily based on fed funds for term of advance.  Interest collected daily.	Actual/360	-  Member executes advance on SecureConnect by  9:00 a.m. CT. -  No cap. -  Does not count against $50 million  SCS cap.
SecureConnect Saver (SCS)	Overnight	Priced daily based on fed funds market.	Actual/360	-  Member executes advance on SecureConnect by  9:00 a.m. for best rate. -  >$5 million must be transacted by 1:00 p.m. CT. -  < $5 million must be transacted by 3:00 p.m. CT. -  $50 million cap
Discount  Note Advance (DNA)	7-day 14-day 21-day 28-day	Fixed for term of advance based  on discount note market.	Actual/360	-  Member executes advance on SecureConnect by  9:00 a.m. for best rate. -  No cap. -  Does not count against $50 million  SCS cap. -  >$5 million must  be transacted by  1:00 p.m. CT. -  < $5 million must  be transacted by  3:00 p.m. CT.

Wire Deadlines:
       - Outgoing:  4:00 p.m. CT.
       - Incoming:  4:00 p.m. CT. 
         Incoming wires received after 4:00 p.m. CT are assessed a late fee.
 

FIXED-RATE ADVANCES 

	Term	Interest Rate	Interest Day Count	Availability
Fixed-rate/Fixed-term Principal at Maturity (bullet)	31 days to  20 years	Fixed for term of advance  and based on the Bank's cost of funds.	One year or less: Actual/360 Greater than one year: 30/360	-  Request via SecureConnect for lowest rate available or by telephone. -  >$5 million must be transacted by 1:00 p.m. CT. -  < $5 million must be transacted by 3:00 CT.
Principal & Interest (P&I), Amortizing	Up to  20 years Can be structured to match amortization schedules up to 30 years.	Fixed for term of advance  and based  on the Bank's cost of funds.	30/360	-  Request via SecureConnect for lowest rate available or by telephone. -  >$5 million must be transacted by 1:00 p.m. CT. -  < $5 million must be transacted by 3:00 p.m. CT.
Prepayable  Principal & Interest  (P&I), Amortizing	Up to 20 years Can be structured to match amortization schedules up  to 30 years.	Fixed for term of advance and based on the Bank's cost of funds. +25 bps (approx.) will be added to lowest rate applicable for prepayment option.	30/360	-  Request via SecureConnect for lowest rate available or by telephone. -  >$5 million must be transacted by 1:00 p.m. CT. -  < $5 million must be transacted by 3:00 p.m. CT.

Note:  Additional terms and conditions are available for qualifying CIP and EDP projects.  Please refer to the Advances Product Guide for more information.

Wire Deadlines:
       - Outgoing:  4:00 p.m. CT.
       - Incoming:  4:00 p.m. CT. 
         Incoming wires received after 4:00 p.m. CT are assessed a late fee.
 

FLOATING-RATE ADVANCES

	Term	Interest Rate	Interest Day Count	Availability
Nonamortizing floating rate	1 to 5 years	Determined by adding appropriate spread to  actual index yield. 1- and 3-month LIBOR available. Rate determination: 2 business days prior to  reset date.	Actual/360	-  Request via SecureConnect for  lowest rate available  or by telephone. -  >$5 million must be transacted by 1:00 p.m. CT. -  < $5 million must be transacted by 3:00 p.m. CT.
Prepayable, non-amortizing  floating rate	1 to 5 years	Determined by adding appropriate spread to  actual index yield. 1- and 3-month LIBOR available. Rate determination:  2 business days prior  to reset date. May be prepaid in whole or in part on any reset date, with 48-hours notice.	Actual/360	-  Request via SecureConnect for  lowest rate available  or by telephone. -  >$5 million must be transacted by 1:00 p.m. CT. < $5 million must be transacted by 3:00 p.m. CT.

Note:  Additional terms and conditions are available for qualifying CIP and EDP projects.  Please refer to the Advances Product Guide for more information. 

Wire Deadlines:
        - Outgoing:  4:00 p.m. CT.
        - Incoming:  4:00 p.m. CT. 
          Incoming wires received after 4:00 p.m. CT are assessed a late fee.
 

STANDARD ADVANCES
Short-Term Maturities

	Term	Interest  Rate	Interest Day Count	Availability
WLA	Overnight, Fixed	Priced daily based on the prevailing short-term fed funds market.	Actual/360	-  Request by telephone by 9:00 a.m. CT for best rate. -  $50 million cap on overnight only. -  >$5 million must be transacted by 1:00 p.m. CT. -  < $5 million must be transacted by 3:00 p.m. CT.
WLA	2-7 day 8-14 day 15-21 day 22-35 day	Fixed for term of advance based on discount note market.	Actual/360	-  Request by telephone by 9:00 a.m. CT. for best rate. -  $50 million cap on overnight only. -   >$5 million must be transacted by 1:00 p.m. CT. -  < $5 million must be transacted by 3:00 p.m. CT.
SLC	1 year maximum commitment	Floating rate, adjusting daily  based on overnight fed funds market.	Actual/360	-  Draw requests in increments or entire line by telephone. -  Pay down requests by telephone. -  >$5 million must be transacted by 1:00 p.m. CT. -  < $5 million must be transacted by 3:00 p.m. CT. -  Maximum line is greater of $10 million or 5% of assets, not to exceed $50 million.

Wire Deadlines:
       - Outgoing:  4:00 p.m. CT.
       - Incoming:  4:00 p.m. CT. 
         Incoming wires received after 4:00 p.m. CT are assessed a late fee.
 

    **UPDATED**
Download a Advances Products Guide that explains the Bank's advances products. 
 

Member Products and Credit Policy -Prior to 03/1/2006
Member Products and Credit Policy - Effective 03/1/2006
Member Products and Credit Policy - Effective 12/2009

Capital Stock Plan

View the Capital Stock Plan for the Federal Home Loan Bank of Dallas
 
 

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