Member Bulletin

• December 08, 2021
• Bulletin No: 2021-27

The Federal Home Loan Bank of Dallas (Bank) is pleased to announce that our Board of Directors has authorized the Bank to extend the expiration date of the current special advances offering from December 31, 2021 to December 31, 2022.

Under the current special advances offering (that is, the offering prior to the extension discussed in this bulletin), the activity-based capital stock investment requirement has been reduced from 4.1 percent to 2 percent for advances that: (i) are funded during the period from April 19, 2021 through December 31, 2021 and (ii) have a maturity of 32 days or greater. This special advances offering originally commenced on April 1, 2020, and during the period from that date through July 31, 2020, the reduced activity-based capital stock investment requirement applied to advances that had a maturity of one year or greater. During the period from August 1, 2020 through April 18, 2021, the reduced activity-based capital stock investment requirement applied to advances that had a maturity of 28 days or greater.

As extended, the Bank’s activity-based capital stock investment requirement has been reduced from 4.1 percent to 2 percent for advances that: (i) are funded during the period from April 19, 2021 through December 31, 2022 and (ii) have a maturity of 32 days or greater.

At any time during the period from April 1, 2020 through December 31, 2022, the maximum balance of advances to which the reduced activity-based capital stock investment requirement can be applied is $5 billion. If, at the time of funding an advance that would otherwise be eligible for the reduced capital stock investment requirement, the then outstanding balance of advances made pursuant to this offering totals $5 billion, then the standard capital stock investment requirement of 4.1 percent will apply.

Except as described in this bulletin, the standard capital stock investment requirement of 4.1 percent will continue to apply to all other advances that are funded during this period. All other minimum investment requirements will also continue to apply.

As always, thank you for being a valued member.

Sincerely,