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.

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 p.m. deadline Cincinnati time.

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.

 

To learn more, contact Correspondent Services at 800-582-1890.

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