Lock in a lower spread with maturities now starting at 1 month! The Fed Funds Floating-Rate Advance provides immediate funding for various short- and medium-term uses, allowing you to lock in a spread to the Fed Funds rate.

 

Features		Benefits
Interest Rate:   Rate Reset: Maturity: Payment Frequency: Daycount Basis:	Rates will be quoted as a fixed spread to Fed Funds Daily 1 month to 1 year Monthly interest Actual/360	Locks in a spread to Fed Funds rate Immediate funding for various short- and medium-term uses

 

Rates will be quoted as a spread to Fed Funds. The spread will not change for the life of the advance. However, the rate is subject to change daily based on the Fed Funds rate. Our credit department will observe the Bloomberg BTMM Fed Funds rate every day at 9:30 a.m. and apply the predetermined spread to it. Like other floating-rate advances, the Fed Funds Floating Rate Advance will also be based on an actual/360 day count basis, paying interest monthly. The same collateral and credit rules that govern the advances program will apply to the product.