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

CLASSIC ADVANCE

Fixed rate and term; interest monthly, principal due at maturity; terms out to 20 years.

 Key Features
  • Fixed rate

  • Fixed term

  • Nonamortizing
   
Common Uses
  • Manage liquidity needs.

  • Manage interest-rate-risk sensitivity.

  • Fund short- or long-term assets.
   
Maturities
  • Out to 20 years.
   
Disbursement
  • Next-day if requested by 3:00 p.m.

  • Same-day possible if you call by noon.
   
Payment of Principal and Interest
  • For maturities of one year or less, you may choose to pay principal and interest at maturity. The advance rate may be higher than the posted rate.

  • For maturities of more than one year, principal due at maturity and interest due either monthly on the second business day of the month or semi-annually on the anniversary date of disbursement. If interest is due semi-annually, the advance rate may be higher than the posted rate.

  • Interest is calculated on an actual/360-day basis.
   
Prepayment
  • Prepayable in full or in part at any time, subject to a fee. Partial prepayments may be in amounts as small as $100,000 and in intervals of $100,000 thereafter.
   
Forward Rate Commitments
  • Lock in a guaranteed rate up to two years before disbursement.

  • Our forward rate commitment adds a premium to the current rate.
   
Automatic Discount
  • We will give you an automatic discount off the posted rate on any Classic advance with a maturity of more than one year if your advances-to-assets ratio is 10 percent or more.
  If Your Advances-
to-Assets Ratio Is:
Your Automatic Discount Will Be:
  10 percent or more 1 basis point
  15 percent or more 2 basis points
  20 percent or more 3 basis points
   
Risks
  • The Federal Home Loan Bank of Boston does not act as a financial adviser, and members should independently evaluate the suitability and risks of these advances. Please see the Classic Advance Primer for a discussion of the risks and other considerations associated with the Classic advance.
   
More Information

 

 

 
 
Rates Specials
Membership
Products and Solutions Guide
Forms and Applications