Deposit Program

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 Idle Funds Transfer Rate (IFTS); 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
  • Maturities from 1 to 270 business days
  • 4 p.m. deadline Cincinnati time

Term Deposits

  • Interest-bearing investment account
  • Fixed rate maturities from 7 days to 24 months
  • Minimum increments of $25,000
  • Interest paid either at maturity or semiannually

Mortgage Custodial Account (MCA)

  • Custodial account for institutions that hold P&I and escrow balances when servicing Agency mortgage loans
  • MCA rate is set daily
  • Monthly statement provided

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

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