Advances

The FHLBank offers a wide range of fixed- and variable-rate Advance products with different maturities, interest rates, payment characteristics and optionality. At March 31, 2013 and December 31, 2012, the FHLBank had Advances outstanding, including Affordable Housing Program (AHP) Advances (see Note 13), at interest rates ranging from 0.00 percent to 9.20 percent. Advances with interest rates of 0.00 percent are AHP-subsidized Advances.

Table 7.1 - Advance Redemption Terms (dollars in thousands)



	March 31, 2013					December 31, 2012
Redemption Term	Amount			Weighted Average Interest Rate		Amount			Weighted Average Interest Rate

Overdrawn demand deposit accounts	$	459		0.21	%	$	—		—	%
Due in 1 year or less	6,008,461			0.82		12,178,645			0.48
Due after 1 year through 2 years	8,814,228			0.74		5,020,941			1.07
Due after 2 years through 3 years	7,797,061			0.55		6,505,107			0.73
Due after 3 years through 4 years	8,253,557			0.82		6,171,525			0.86
Due after 4 years through 5 years	9,096,719			0.84		9,131,953			0.88
Thereafter	18,028,567			0.62		14,612,607			0.74
Total par value	57,999,052			0.71		53,620,778			0.75
Commitment fees	(814		)			(836		)
Discounts on AHP Advances	(18,076		)			(19,308		)
Premiums	3,684					3,774
Discount	(15,899		)			(13,578		)
Hedging adjustments	314,367					353,131
Total	$	58,282,314				$	53,943,961

The FHLBank offers Advances to members that may be prepaid on specified dates (call dates) without incurring prepayment or termination fees (callable Advances). In exchange for receiving the right to call the Advance on a predetermined call schedule, the member typically pays a higher rate for the Advance relative to an equivalent maturity, non-callable Advance. If the call option is exercised, replacement funding may be available. Other Advances may only be prepaid subject to a fee to the FHLBank (prepayment fee) that makes the FHLBank financially indifferent to the prepayment of the Advance. At March 31, 2013 and December 31, 2012, the FHLBank had callable Advances (in thousands) of $9,805,376 and $12,012,609.

Table 7.2 - Advances by Year of Contractual Maturity or Next Call Date for Callable Advances (in thousands)



Year of Contractual Maturity or Next Call Date	March 31, 2013		December 31, 2012
Overdrawn demand deposit accounts	$	459	$	—
Due in 1 year or less	15,273,108		20,726,461
Due after 1 year through 2 years	6,537,812		3,563,705
Due after 2 years through 3 years	5,330,611		4,776,457
Due after 3 years through 4 years	6,259,501		3,746,205
Due after 4 years through 5 years	7,110,019		6,732,368
Thereafter	17,487,542		14,075,582
Total par value	$	57,999,052	$	53,620,778

The FHLBank also offers putable Advances. With a putable Advance, the FHLBank effectively purchases a put option from the member that allows the FHLBank to terminate the Advance at predetermined dates. The FHLBank normally would exercise its option when interest rates increase relative to contractual rates. At March 31, 2013 and December 31, 2012, the FHLBank had putable Advances, excluding those where the related put options have expired, totaling (in thousands) $2,469,250 and $2,587,250.

Table 7.3 - Advances by Year of Contractual Maturity or Next Put/Convert Date for Putable/Convertible Advances (in thousands)



Year of Contractual Maturity or Next Put/Convert Date	March 31, 2013		December 31, 2012
Overdrawn demand deposit accounts	$	459	$	—
Due in 1 year or less	8,414,011		14,792,295
Due after 1 year through 2 years	8,309,828		4,672,041
Due after 2 years through 3 years	7,752,061		6,193,507
Due after 3 years through 4 years	7,889,057		6,019,525
Due after 4 years through 5 years	8,002,569		8,125,303
Thereafter	17,631,067		13,818,107
Total par value	$	57,999,052	$	53,620,778

Table 7.4 - Advances by Interest Rate Payment Terms (in thousands)



Par value of Advances	March 31, 2013		December 31, 2012
Fixed-rate ⁽¹⁾
Due in one year or less	$	4,395,475	$	9,412,060
Due after one year	8,127,141		8,224,609
Total fixed-rate	12,522,616		17,636,669
Variable-rate ⁽¹⁾
Due in one year or less	1,224,789		2,363,338
Due after one year	44,251,647		33,620,771
Total variable-rate	45,476,436		35,984,109
Total par value	$	57,999,052	$	53,620,778


(1)	Payment terms based on current interest rate terms, which would reflect any option exercises or rate conversions subsequent to the related Advance issuance.

At March 31, 2013 and December 31, 2012, 33 percent and 24 percent, respectively, of the FHLBank's fixed-rate Advances were swapped to a variable rate.

Table 7.5 - Borrowers Holding Five Percent or more of Total Advances, Including Any Known Affiliates that are Members of the FHLBank (dollars in millions)



March 31, 2013					December 31, 2012
	Principal		% of Total			Principal		% of Total
JPMorgan Chase Bank, N.A.	$	37,700	65	%	JPMorgan Chase Bank, N.A.	$	26,000	48	%
U.S. Bank, N.A.	4,585		8		Fifth Third Bank	4,732		9
Total	$	42,285	73	%	U.S. Bank, N.A.	4,586		8
					PNC Bank, N.A. ⁽¹⁾	2,986		6
					Total	$	38,304	71	%


(1)	Former member