FHLBI offers a variety of financing products that provide members access to the capital market.
Credit Services Advantages:
1. Same-day funding
2. Match exact funding amounts and maturity dates
3. Lend against illiquid collateral
4. Wide range of products to manage interest rate risk
5. Competitive pricing
Advances are fully collateralized borrowings that FHLBI offers to members. Advances can support your lending activity, provide additional liquidity for growth, and help mitigate certain kinds of interest rate risks.
Advances are offered in terms from overnight variable to 30 years, depending upon market conditions. They are built to meet the term and structure you need, including fixed-rate term (bullet), amortizing, floating, adjustable, caps, and option-embedded callables and putables. We also offer advances at-cost for qualifying economic or community investment purposes. Members can obtain rate indications by logging into our secure Member Link site or contacting the FHLBI Credit Desk.
Members can establish FHLBI borrowing capacity that allows them to obtain funding same day and have access when needed to a reliable backup liquidity source. To learn more about establishing borrowing capacity as a member, see Establishing Credit Availability .
Lines of Credit
FHLBI Overdraft Lines of Credit (LOC) offer immediate short-term funds through a member's cash account at FHLBI. Once approved for the Overdraft LOC, members can access the full amount of that funding without contacting FHLBI for each request. With the Overdraft LOC, there are no annual commitment fees (if line is accessed during the one-year term), no ratings triggers or debt covenants, and no compensating balances.
As with all credit products, the full amount of the Overdraft LOC must be collateralized at all times and capital stock requirements apply. To learn about membership and applying for an Overdraft Line of Credit, see Becoming a Member.
Letters of Credit
FHLBI Letters of Credit help our members secure improved credit terms for residential housing finance, facilitating community lending, assisting with asset/liability management, and liquidity needs. Should the letter be drawn upon, FHLBI issues an advance under the agreed-upon program, usually a variable rate advance. Terms are issued up to 20 years, depending on the purpose.
As with all credit products, the full amount of the Letter of Credit must be collateralized at all times and capital stock requirements apply. To learn about membership and applying for a Letter of Credit, see Becoming a Member.