Log In  |  Search 
Logotop banner
 
CREDIT PRODUCTS
Overview
  Advance Restructuring
  Amortizing Advance
  Capped Floater Advance
  Classic Advance
  Classic Plus Cap Advance
  Collar Advance
  Corridor Advance
  Curve Flattener Advance
  Curve Steepener Advance
  Daily Cash Manager
  Discount Note Auction-Floater
  Expander Advance
  Flipper Advance
  Flipper Advance with Guaranteed Flip
  HLB-Option Advance
  HLB-Option Plus Cap Advance
  IDEAL Cash Manager
  Knockout Advance
  Letters of Credit
  LIBOR-Indexed Advance
  Member-Option Advance
  Rollover Cash Manager
  Slider Advance
  Swaps, Caps, and Floors
  Symmetrical Prepayment
  Transaction Hours
SPECIALS
CORRESPONDENT SERVICES
MORTGAGE PARTNERSHIP FINANCE
Funding-Strategy Models
PRODUCTS AND SOLUTIONS GUIDE
ACTIVITY-BASED STOCK REQUIREMENT

ADVANCE RESTRUCTURING

Members interested in extending the maturity and reducing the rate of their existing advances have an alternative to consider: FHLB Boston’s Advance Restructuring solution.

Through this solution, members can restructure outstanding advances for certain eligible product types and blend the contractual prepayment fee into the rate of a new long-term advance. There is no cash settlement of the prepayment fee since it is blended into the rate of the new advance. This allows members to extend the maturity of their existing advances at a potentially lower rate on the new advances compared with the rate on the original advances — and without taking additional cash or purchasing additional stock.

The Bank will also remodify advances that were restructured more than 12 months ago.

For more information, see the Advance Restructuring Solution presentation or contact your relationship manager or the Member Financial Strategies department. For a fully functional Advance Restructure Calculator, please e-mail Kevin Martin at kevin.martin@fhlbboston.com.

Key Features

  • Members can blend the prepayment fee of an existing advance into the rate on a new advance.
  • No cash settlement of the prepayment fee will be required.
  • Old advance is closed out and new advance is initiated.
  • Accrued interest on old advance is due when the new advance settles.
  • Next-day settlement, if requested by 1 p.m.
  • Advances restructured more than 12 months ago are eligible for remodification.

Eligible Product Types



Type Description

Classic
804 Classic Advance    
806 Classic Advance Semi-annual Pay

Amortizing
870 Amortizing Advance

Community Development Advance
877 CDA-RDA Amortizing
903 CDA-RDA Classic
878 CDA-UDA Amortizing
904 CDA-UDA Classic

Community Investment Program
821 Community Investment Program (CIP)
874 Amortizing CIP+
860 CIP+
914 CDA CIP Classic
879 CDA CIP Amortizing
872 Amortizing CIP

Economic Stimulus Advance
868 FHLB ESA Amortizing 
910 FHLB ESA Classic 

New England Fund
822 New England Fund (NEF)
861 NEF+
873 Amortizing NEF Advance
875 Amortizing NEF+ Advance
   
CDA - Community Development Advance
ESA - Economic Stimulus Advance
RDA - Rural Development Advance
UDA - Urban Development Advance

This statement does not purport to disclose all of the risks and other material considerations associated with an Advance Restructuring. Members should not construe this disclosure statement as business, legal, tax, or accounting advice from the Bank. Members should consult with their own business, legal, tax, and accounting advisers with respect to the Advance Restructuring solution and should refrain from using this solution unless they have fully understood its terms and risks.

 
 
Rates Specials
Membership
Products and Solutions Guide
Forms and Applications