A source of overnight liquidity to address day-to-day cash needs.
- Serves as no-cost liquidity insurance for unanticipated daily cash needs.
- Enables the institution to hold less liquidity.
- Priced to compete with Federal (Fed) Funds.
Maturity
Fixed Rate, 2 to 30 days
Variable Rate, 90 days
Variable Rate, 90 days
Rate
Fixed Rate: Remains fixed for entire term to maturity
Variable Rate: Subject to daily rate adjustments
Variable Rate: Subject to daily rate adjustments
Interest is Paid
Monthly. Interest is accrued on an actual/360-day basis.
Principal is Paid
At maturity
Principal Prepayment Policy
Fixed Rate: Not Prepayable
Variable Rate: Prepayable at any time without prepayment fee
Variable Rate: Prepayable at any time without prepayment fee
Submission of Application
A Cash Management Advance (CMA) application is required every 12 months
Prepayment
Variable rate CMA Advances may be prepaid at any time without a fee but only after the disbursement date.
To learn more about our Advance products, contact Credit Operations at 800-828-4191.