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Credit Products

Standard Products

RepoPlus and Open RepoPlus

FHLBank Pittsburgh offers several RepoPlus products with rates that are competitive with other market products with similar terms. The terms range from overnight to two months. The Open RepoPlus provides the member with a revolving line of credit (uncommitted) in which they have the flexibility to borrow or repay within the maximum amount of the line.

Mid-Term Repo

Mid-Term Repo advances give members the best of both worlds: they provide assistance with liquidity and cash management and asset and liability management. With maturities from three months to three years, Mid-Term Repos can be either fixed or adjustable rate.

Long-Term Advances

To assist the members with asset and liability management, Long-Term advances feature maturities from three to 30 years. With same-day funding or forward settlements, Long-Term advances can be either fixed or adjustable rate.

Fixed-Rate Amortizing Advances

Offering fixed monthly payment of principal and interest, this type of advance can be fully amortizing or structured with balloon payments to support many of your common asset structures.

Option Embedded Products

Convertible Select

With Convertible Select advances, members gain the advantage of a below-market fixed rate in exchange for selling to FHLBank the option to convert the advance to a LIBOR adjustable-rate advance at a later time, which is preset by the member. If FHLBank exercises the conversion option, the member may select the adjustable-rate funding or return the funds at no charge. Convertible Selects are available with maturities ranging from two to 15 years, with lockout periods starting at three months. A popular variation is the Convertible Select with Strike Rate.

Returnable Advances

Returnable advances offer a fixed or adjustable rate that may, at the option of the member, be repaid without penalty on certain predetermined dates. Returnable advances may be useful for interest rate management or to fund assets that include prepayment options.

Other Products and Services

Letters of Credit

FHLBank's Letter of Credit (LOC) product can be used to improve the credit rating of certain transactions. The funds can be used for a number of business purposes including residential housing finance, asset/liability management, additional liquidity or funding management, community lending and certain taxable bond issues. A number of LOCs are available to support FHLBank members:

• Confirming Letters of Credit
• Standby Letters of Credit
• Direct Pay Letters of Credit
• LOCs for Municipal Deposits

FHLBank LOCs may also be used to secure municipal (public) deposits. They provide the level of security desired by public institution depositors at all levels of government.

Bank4Banks

Bank4Banks.com, FHLBank's secure transactional website, can now be used for credit purposes. Member institutions can transact advances, obtain certain advance rates, and access current information about their advance portfolio, capital stock position or maximum borrowing capacity — all through Bank4Banks. In addition, both Safekeeping and wire transactions can be executed. Security is always a priority at Bank4Banks. The site's authentication process includes multiple verification steps, and all information is encrypted and securely transmitted.

Credit Assistance

FHLBank continues to develop new products and services to provide member financial institutions with even more flexibility and greater benefits. The Product Delivery Group staff is available to help members determine the best options to meet their current funding requirements.

For more information on Credit products and services, members can contact the Product Delivery Group at 1-800-288-3400, option 2, or send email to pd@fhlb-pgh.com. You may also contact your relationship manager at 1-800-288-3400 or send email to marketing@fhlb-pgh.com

"Bank4Banks" is a registered trademark of the Federal Home Loan Bank of Pittsburgh.