Product Brochures - Federal Home Loan Bank of Des Moines

Frequently Asked QuestionsBelow are answers to some of the most commonly asked questions about the Bank’s creditproducts.• Any advance request of $15 million or more requires live market pricing.• Advance interest is calculated on an actual/360 day basis.• Community Investment Advance pricing requires an approved application.• Overnight advances are available until 4:30 PM Central Time.• Holiday hours will be posted on FHLB Des Moines website at www.fhlbdm.com.• Letters of Credit are available until 3:00 PM Central Time. Any applications receivedafter 3:00 PM Central Time will be processed the following business day.• Letters of Credit currently do not require activity stock.• All advances require activity stock. Funds can be included in the advance proceeds to coverthe activity stock purchase. Activity stock is debited from the member’s Demand DepositAccount at end of day.• Minimum advance requirements vary by product.• Most advances are subject to a prepayment fee if repaid prior to the maturity date.• Prepayment fee indications are available for most advances through eAdvantage.• Advances must be prepaid in full, no partial prepayments with the exception of theAmortizing Advances with lockout.• Advance prepayment request forms must be submitted to the Money Desk prior to2:00 PM Central Time. There is a two-day settlement on prepaid advances.• At times, FHLB Des Moines may offer discounted advances called Unique FundingOpportunities for a limited time and amount.• In order to expedite the borrowing process, a member should pledge adequate collateralprior to an advance request.QUESTIONSPlease call the MoneyDesk at 800.544.3452,ext. 1013 or emailmoneydesk@fhlbdm.com• Principal and interest for maturing advances are memo posted in eAdvantage the previousbusiness evening, but charged on the morning of the maturity date.• For advances not maturing, interest payments are charged to the member’s primaryDemand Deposit Account at end of day.• All excess Activity Stock is automatically repurchased by the Bank at the end of thebusiness day.6/1/12