Credit FAQ

What is the cut-off time for making payments?
The FHLBI has set a cut-off time of 2:00pm Indianapolis time on standard business days for making maturity payments or variable rate payments. Early pay off or notification of prepayment must be requested per the
terms of the advance (ex., fixed rate bullet prepayment, putables, calls, etc.) Times may vary if markets close early for holidays or special circumstances.

Who can make Advances for an institution?
Once the Certified Resolution for Advances is on file with FHLBI and the Advances, Pledge, and Security Agreement is accepted, a member may take advances. Only those individuals on the Certified Resolution for Advances may execute an advance

When is the latest I can take out a short-term variable advance for same day funding and what is the maximum term for this advance?
The latest we can do a short-term variable advance is 2:00 pm Indianapolis time on a standard business day. Times may vary if markets close early for holidays or special circumstances. The maximum term is 180 days.

Are your rates online?
Yes, they are online through the secured services section of Member Link.

Can I do advances and payments online?
With approval from FHLBI, you can do short-term variable advances online until 12:00 pm Indianapolis time. After that you will have to call Credit Services. The same timeframes are true for payments on short-term
variable advances.

When are dividend announcements and when are dividends paid?
The Board of Directors, at its discretion and subject to our Capital Plan, shall establish and declare the amount and type of dividend, if any, on a quarterly basis or as otherwise determined by the Board of Directors.

What states does FHLBI serve?
FHLBI serves the states of Indiana and Michigan.

Are online or Credit Services quotes guaranteed?
When an individual from FHLBI or the internet provides a quote, they are giving the latest indication. Rates can move quickly so the rate will be determined at execution of the trade.

When I lock in a rate for a fixed-rate bullet advance, when must I
take delivery?
Once you lock in a rate, you may take delivery on any business day up to 5 business days for a long-term advance or by the next business day for a short-term advance. If a member receives a CIP fixed-rate bullet advance, it must be taken down the next day at the latest.

Updated: November 5, 2010