The FHLB provides its members with various deposit accounts that may be used for a variety of reasons. All balances maintained by members in any of these deposit accounts are exempt from Regulation F.
Demand Deposit Account (DDA)
- Clearing account for all FHLB financial transactions.
- Balances earn interest at the Demand Account Rate (DDA); set daily.
- Daily available balance accrues interest daily; paid monthly.
- Monthly statement provided.
- 3:00 p.m. deadline (ET)
Overnight Deposit Account
- Interest-bearing investment account.
- Overnight rate set daily.
- Transfer to and from DDA in increments of $25,000.
- Interest is calculated on a 360-day basis; paid monthly to DDA.
- Monthly statement provided.
- 3:00 p.m. deadline (ET)
Term Deposits
- Fixed rate term deposits available.
- $25,000 minimum transaction size.
- Maturities available from seven days to two years.
- Short term 7-366 days maturity; interest calculated and paid on 360-day basis at maturity. Long term 367 days to 24 months; interest calculated on a 365-day basis and paid semi-annually.
- Indicator rates posted on Members Only; rate finalized at time of purchase for entire term.
- Monthly statement provided.
- 3:00 p.m. deadline (ET)
Federal Funds Deposit Account (FFDA)
- Alternative placement for Federal funds investments.
- Interest calculated on a 360-day basis; paid at maturity.
- Rate quote based on current Federal funds intra-day market rate.
- Minimum investment $5.0 million; increments of $1.0 million.
- Monthly statement provided.
- 3:00 p.m. deadline (ET)
To learn more, contact Correspondent Services at 800-582-1890.