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Credit Products – Symmetrical Prepayment

Fixed rate and term; interest monthly, principal due at maturity; terms out to 20 years.


Key Features
  • Special prepayment feature
  • Fixed rate
  • Fixed term
  • Nonamortizing
Common Uses
  • Provide liquidity and enhance balance-sheet management.
  • Fund fixed- and adjustable-rate mortgages.
  • Fund commercial and consumer loans.
  • Fund investment securities.
Maturities
  • Terms out to 20 years.
Minimum
  • $2 million minimum but smaller requests may be accommodated in special offerings.
Disbursement
  • Funds are available next day.
Payment of Principal and Interest
  • Principal due at maturity and interest due monthly on the second business day of the month.

  • Interest is calculated on an actual/360-day basis.
Prepayment
  • Prepayable on any Boston business day — subject to prior notice to the Bank — for an amount equal to the amount of the advance plus or minus the Bank's loss or gain on the underlying swap (the approximate market value of the advances), minus the present value of two basis points per year to remaining maturity. The amount of the gain on the prepayment of the underlying swap passed through to the member (before subtracting the two basis points per year) cannot exceed 10 percent of the amount of the advance. Minimum prepayment of $1 million and in intervals of $100,00 thereafter. Estimated prepayment fee table Adobe PDF icon
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