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

SYMMETRICAL PREPAYMENT

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

 Key Features
  • Special prepayment feature

  • Fixed rate

  • Fixed term

  • Nonamortizing
   
Common Uses
  • Provide liquidity and enhance balance-sheet management.

  • Fund fixed- and adjustable-rate mortgages.

  • Fund commercial and consumer loans.

  • Fund investment securities.
   
Maturities
  • Terms out to 20 years.
   
Minimum
  • $10 million minimum but smaller requests may be accommodated in special offerings.
   
Disbursement
  • Funds are available next day.
   
Payment of Principal and Interest
  • Principal due at maturity and interest due monthly on the second business day of the month.

  • Interest is calculated on an actual/360-day basis.
   
Prepayment
  • Prepayable on any Boston business day — subject to prior notice to the Bank — for an amount equal to the amount of the advance plus or minus the Bank's loss or gain on the underlying swap (the approximate market value of the advances), minus the present value of two basis points per year to remaining maturity. The amount of the gain on the prepayment of the underlying swap passed through to the member (before subtracting the two basis points per year) cannot exceed 10 percent of the amount of the advance. Minimum prepayment of $1 million and in intervals of $100,00 thereafter. Estimated prepayment fee table
   
More Information

 

 

 
 
Rates Specials
Membership
Products and Solutions Guide
Forms and Applications