Products and Solutions Guide - Federal Home Loan Bank of Boston

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Fixed-Rate Advances – The New England Fund cont’d.New England FundNonresidential Community EconomicDevelopment LoansNon-residential community economic development projectsor programs are eligible if:• The project is located in a census tract, neighborhood, orother geographic area for which the AMI does not exceed140 percent of the AMI for the larger geographic area(e.g., PMSA or county);• The project primarily serves individuals or householdswith incomes that do not exceed 140 percent of the AMI;or• The project primarily employs individuals from householdswith incomes that do not exceed 140 percent of theAMI. If the employees’ household incomes are unknown,a project is eligible if it primarily employs individualswhose salaries do not exceed 80 percent of the AMI forone-person households.TermsPre-approval is necessary. To apply for the NEF advance,members must submit an online application.DisbursementMembers must take down an NEF advance within 12months of the date of approval, unless the applicationincluded an approved request for a longer take-down period.Available Products and MaturitiesNEF advances are available with maturities out to 20 years.The following advances are available as NEF advances:Classic, Member-Option, and Amortizing.ReportingThe Bank does not require annual reporting for NEFadvances, but it does reserve the right to monitor compliancewith the certifications made in the confirmation for theadvance.Additional InformationFor further details, please see New England Fund.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 17
Fixed-Rate Advances – Symmetrical Prepayment AdvanceSymmetrical PrepaymentAdvanceNonamortizing, fixed-term and rateadvance with a special prepayment featurethat allows you to prepay the advance atits approximate market value. Any gain willbe passed through to the member subjectto certain limitations.Common Uses• Manage liquidity needs.• Manage interest-rate risk.• Fund short- or long-term assets.• In a rising-rate environment, the gainfrom prepayment can be used to offsetthe loss on sale of securities or otherassets.TermsMaturities are available for terms out to 20 years.DisbursementFunds are available next day.Principal and Interest• Payment of principal is due at maturity and interest isdue on the second business day of the month.• Members may choose monthly or semi-annual interestpayments prior to initiation.• The minimum offering size is $10 million. Offering sizeorders for less than $10 million will be aggregated withother requests for advances with identical terms andwill be executed when orders total $10 million.• Interest is calculated on an actual/360-day basis.Prepayment• Advances may be prepaid with two business days noticeto the Bank, in an amount equal to the approximatemarket value of the advance. Any gain will be passedthrough to the member subject to certain limitations.• For further detail on the actual prepayment amountcalculation, please see the Symmetrical PrepaymentAdvance table.Please see the Symmetrical Prepayment AdvanceConfirmation for more information on prepayment fees.Additional InformationFor further details, including comments on risks, please seeSymmetrical Prepayment 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 18
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 12 and 13: Fixed Rate Advances - Community Dev
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 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
Page 62 and 63: Appendix C - Subprime and Nontradit
Page 64 and 65: Appendix D - Advances Confirmations
Page 66: Bank ContactsBank ContactsCustomer

Products and Solutions Guide - Federal Home Loan Bank of Boston

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