Products and Solutions Guide - Federal Home Loan Bank of Boston

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Fixed Rate Advances – Community Development AdvancesCommunity DevelopmentAdvancesDiscounted advances that support affordablehousing and economic developmentinitiatives.Types:CDADiscounted advance that supports a variety of economic development and mixed-use initiatives, including loans for smallbusinesses, social-service or public-facility initiatives, and infrastructure improvements. These advances can also be used tosupport commercial, industrial, and manufacturing initiatives:• Initiatives benefitting households with incomes at or below 115 percent of area median income for a rural initiative, or 100percent of AMI for an urban initiative for a family of four, based on the income guidelines as published annually by HUD.• Initiatives located in a census tract at or below 115 percent of AMI for a rural initiative or 100 percent of AMI for an urbaninitiative.CDA ExtraDeeply discounted advance that supports:• Affordable housing initiatives serving households at or below 115 percent of AMI.• Economic development or mixed-use initiatives serving households at or below 80 percent of AMI.TermsPre-approval is necessary. To apply for a CommunityDevelopment advance, members must submit an onlineapplication.Annual approvals per member are limited to:$35 million for CDA; and$15 million for CDA Extra.DisbursementMembers must take down a Community Developmentadvance within six months of the date of approval, unlessthe application included an approved request for a longertake-down period.Available Products and MaturitiesCommunity Development Advance program advancesare available with maturities of one year and longer. Thefollowing advances are always available as CommunityDevelopment advances: Classic, Member-Option, andAmortizing. Other Community Development advancesmay be available upon request.ReportingThe Bank does not require annual reporting for CommunityDevelopment advances, but it does reserve the right tomonitor compliance with the certifications made in theconfirmation for the advance.Additional InformationFor further details, please see Community DevelopmentAdvances.credit productsMain Telephone: 617-292-9600 • Customer Service: 1-800-358-9709 • Money Desk: 1-800-357-3452 • Relationship Managers, MPF, and Housing & Community Investment: 1-888-424-3863 9
Fixed-Rate Advances – Expander AdvanceExpander AdvanceNonamortizing, fixed-term and rateadvance. You have a one-time opportunityto increase the principal amount of theadvance by 100 percent of the originalamount, at the original interest rate, forthe remaining term of the advance.Common Uses• Limit exposure to rising interest rates.• Fund short- or long-term assets.Terms• Maturities are available for terms out to 20 years.• The expansion date may be selected from one to10 years from the original disbursement date.Disbursement• Funds are available two business days after thetrade date.Principal and Interest• Principal is due at maturity and interest is due on thesecond business day of the month.• Interest is calculated on an actual/360-day basis.PrepaymentAdvances may be prepaid, subject to a fee. Please see theExpander Advance Confirmation for more information onprepayment fees.Additional InformationFor further details, including comments on risks, please seeExpander Advance.credit productsMain Telephone: 617-292-9600 • Customer Service: 1-800-358-9709 • Money Desk: 1-800-357-3452 • Relationship Managers, MPF, and Housing & Community Investment: 1-888-424-3863 10
Page 4 and 5: IntroductionBuilding Communities -B
Page 6 and 7: Overnight Funding - Daily Cash Mana
Page 8 and 9: Overnight Funding - IDEAL Cash Mana
Page 10 and 11: Fixed-Rate Advances - Classic Advan
Page 14 and 15: Fixed-Rate Advances - Forward Start
Page 16 and 17: Fixed-Rate Advances - HLB-Option Pl
Page 18 and 19: Fixed-Rate Advances - Member-Option
Page 20 and 21: Fixed-Rate Advances - The New Engla
Page 22 and 23: Long-Term Variable-Rate Indexed Adv
Page 32 and 33: Advance RestructuringAdvance Restru
Page 34 and 35: Letters of CreditLetters of CreditS
Page 36 and 37: Asset-Purchase ProgramsAsset-Purcha
Page 38 and 39: Underwriting RequirementsUnderwriti
Page 40 and 41: Underwriting Requirements cont’d.
Page 42 and 43: Collateral Requirements cont’d.1
Page 44 and 45: Collateral Requirements cont’d.Us
Page 46 and 47: Collateral Requirements cont’d.Co
Page 48 and 49: Appendix A - Eligible Collateral an
Page 58 and 59: Appendix B - Anti-Predatory Lending
Page 60 and 61: Appendix B - Anti-Predatory Lending
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Appendix C - Subprime and Nontradit
Page 64 and 65:
Appendix D - Advances Confirmations
Page 66:
Bank ContactsBank ContactsCustomer
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Products and Solutions Guide - Federal Home Loan Bank of Boston

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