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Advances

FHLB Dallas Advances: Cost-Effective, Flexible Sources of Capital

Through our advances, FHLB Dallas empowers our member institutions with economically and operationally efficient access to capital, which may be used to fund liquidity needs, balance sheet structuring alternatives, affordable housing, and economic development.

Our scale and a disciplined business model enable FHLB Dallas to efficiently attract capital from global investors and pass that access through to our members. This capital is available to members through cost-effective fixed- and floating-rate advances with terms and options that align to various products and services including a range of near- and long-term financial objectives.

  • Fixed- and floating-rate structures
  • Maturities from overnight to 30 years
  • Available same-day funding
  • Optional forward-starting feature that locks in funding at the current rate for future anticipated needs
  • Available symmetrical prepayment feature that provides opportunity to prepay below par if rates rise 

Community Advance Programs

FHLB Dallas offers three community advance programs that support local investment. These programs provide favorably priced solutions that support the affordable housing and economic development efforts by our Member institutions.

  • Community Investment Program (CIP) provides favorably priced advances to assist members in funding affordable housing, qualified economic development projects and community revitalization in targeted communities.
  • Economic Development Program (EDP) provides favorably priced advances to assist members in funding qualified economic development projects and community revitalization in targeted communities.

​Fixed-Rate Advances

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. Also available by telephone.

- >$5 million must be transacted by 1:00  p.m. CT.

- <$5 million must be transacted by 4:00  p.m. CT.

Note: Additional terms and conditions are available for qualifying CIP and EDP terms. Please refer to the Advances Products 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 will be charged a late fee.

Call Member Services at 844.FHL.BANK (844.345.2265) for assistance in structuring these fixed-rate term advances and advances not executed through SecureConnect.

 

​FHLB Dallas Long-Term Floating Advances

Term Interest
Rate
Interest Day Count Availability
Non-Amortizing
Floating Rate
1 to 10 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 except on trade data. New York Stock Exchange business days are used.

Actual/360

- Request via SecureConnect for
lowest rate. Also available by telephone.

- >$5 million must be transacted by 1:00 p.m. CT.

- < $5 million must be transacted by 4:00 p.m. CT.

Capped Floating-Rate Non-Amortizing 1 to 10 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 except on trade date. New York Stock Exchange business days are used.

Actual/360

- Request via telephone.

- >$5 million must be transacted by 1:00 p.m. CT.

- < $5 million must be transacted by 4:00 p.m. CT.

Floored Floating-Rate Non-Amortizing 1 to 10 years

Determined by adding appropriate spread to actual index yield plus per annum floor cost.

1-month and 3-month LIBOR available.

Rate determination: 2 business days prior to reset date except on trade date. New York Stock Exchange business days are used.

Actual/360

- Request via telephone.

- >$5 million must be transacted by 1:00 p.m. CT.

- < $5 million must be transacted by 4:00 p.m. CT.

Prepayable, Non-Amortizing Floating Rate 1 to 10 years

Determined by adding appropriate spread to actual index yield.

1-month and 3-month LIBOR available.

Rate determination: 2 business days prior to reset date except on trade date. New York Stock Exchange business days are used.

May be prepaid in whole or in part on any reset date, within 24- or 48-hours notice.

Actual/360

- Request via SecureConnect for lowest rate. Also available by telephone.

- >$5 million must be transacted by 1:00 p.m. CT.

- < $5 million must be transacted by 4:00 p.m. CT.

Discount Note Floating Rate

1 to 7 years

  • 4wk
  • 8wk

 

1 to 10 years

  • 13wk
  • 26wk

 

Determined by adding appropriate spread to actual auction yield

Weighted average rate of discount notes issued during the 4-week, 8-week, 13-week, and 26-week Discount Note Auctions held by the Federal Home Loan Bank System on Tuesdays and Thursdays

Rate determination: Each reset date will be the Wednesday or Friday following the Discount Note Auction based on the selected reset frequency. New York Stock Exchange business days are used

May be prepaid in whole, or in part, on any reset date with two business days' notice.
Actual/360

- Request via telephone before 9:30 a.m. CT, Tuesdays and Thursdays

- Funds will be disbursed the following business day.

Note: Additional terms and conditions are available for qualifying CIP and EDP projects. Please refer to the Advances Products 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 will be charged a late fee.

Call Member Services at 844.FHL.BANK (844.345.2265) for assistance in structuring these floating-rate advances and advances not executed through SecureConnect.

​FHLB Dallas Amortizing Advances

Long-Term Maturities

Term Interest
Rate
Interest Day Count Availability
Principal & Interest (P&I), Amortizing

Up to 20 years

Can be structured to match amortization schedules up to 30 years

Customized (CPR) available

Fixed for term of advance and based on the Bank's cost of funds. 30/360

- Request via SecureConnect for lowest rate. Also available by telephone.

- >$5 million must be transacted by 1:00  p.m. CT.

- <$5 million must be transacted by 4:00  p.m. CT.

Prepayable Principal & Interest (P&I), Amortizing

Up to 20 years

Can be structured to match amortization schedules up
to 30 years.

Customized CPR available.

Fixed for term
of advance and based on the Bank's cost of funds.

For a prepayment option, +25 bps (approx) will be added to the advance rate.

30/360

- Request via SecureConnect for lowest rate. Also available by telephone.

- >$5 million must be transacted by 1:00 p.m. CT.

- < $5 million must be transacted by 4:00 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 will be charged a late fee.

Call Member Services at 844.FHL.BANK (844.345.2265) for assistance in structuring these amortizing advances and advances not executed through SecureConnect.

​FHLB Dallas Short-Term Advances

Short-Term Maturities

Term Interest
Rate
Interest
Day Count
Availability
Maximizer
(MAX)

Overnight, fixed

Floater, up to 30 days

Priced daily based on discount note market.

Floating rate, adjusted daily based on fed funds for term of advances. Interest collected daily.

Actual/360

Actual/360

- Member executes advance on SecureConnect by
10:00 a.m. CT.

- No cap.

- Does not count against $50 million
SCS cap (See SecureConnect Saver below).

SecureConnect Saver (SCS) Overnight Priced daily based on FHLB Dallas' discount note market. Actual/360

- Member executes advance on SecureConnect by
10:00 a.m. for best rate.

- >$5 million must be transacted by 1:00 p.m. CT. After 1:00 p.m. CT, please contact the Member Services Desk.

- < $5 million must be transacted by 4:00 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
10:00 a.m. CT 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
4:00 p.m. CT.

Whole Loan Advance (WLA) Overnight, Fixed Priced daily based on the prevailing short-term Fed funds market. Actual/360

- Request by telephone by 10:00 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 4:00 p.m. CT.

Whole Loan Advance (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

 

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.

Call Member Services at 844.FHL.BANK (844.FHL.BANK) for assistance in structuring both FHLB Dallas short-term advances and advances not executed through SecureConnect.

 

 

 

FHLB Dallas offers a number of advance features that provide added benefits to our members.

Symmetrical Prepayment  

This feature enables members to prepay a fixed-rate, fixed-term, or principal amortizing (PRAM) advance below par and realize a gain if interest rates rise sufficiently since the advance was originated.

  • Available on fixed-rate, fixed-term or PRAM advances structures
  • Maturities from one year to 10 years
  • Minimum $1 million transaction size

Learn more by reading the Symmetrical Prepayment white paper.

 

Forward-Starting

An advance with the Forward-Starting feature enables a member to take advantage of the current low- interest rate environment by locking in a rate today for an advance that settles at a future date.

  • Avaliable on fixed-rate, fixed-term or PRAM advances structures
  • No minimum transaction size up to 10 years
  • Minimum $5 million transaction size when terms are beyond 10 years or if the advance includes a Symmetrical Prepayment feature

Learn more by reading the Forward-Starting white paper.

 

 

 

Call Member Services at 844.FHL.BANK (844.345.2265) or email member.services@fhlb.com
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