Advances

The FHLB offers a wide range of fixed- and variable-rate Advance products with different maturities, interest rates, payment characteristics and optionality. The following table presents Advance redemptions by contractual maturity, including index-amortizing Advances, which are presented according to their predetermined amortization schedules.

Table 7.1 - Advance Redemption Terms (dollars in thousands)



	June 30, 2017					December 31, 2016
Redemption Term	Amount			Weighted Average Interest Rate		Amount			Weighted Average Interest Rate
Due in 1 year or less	$	36,268,570		1.27	%	$	23,129,060		0.85	%
Due after 1 year through 2 years	17,263,673			1.44		21,503,138			1.06
Due after 2 years through 3 years	10,306,830			1.49		14,292,353			1.12
Due after 3 years through 4 years	1,887,708			1.85		5,322,050			1.26
Due after 4 years through 5 years	727,943			2.11		963,105			1.78
Thereafter	4,657,756			1.95		4,697,315			1.75
Total par value	71,112,480			1.41		69,907,021			1.07
Commitment fees	(522		)			(534		)
Discount on Affordable Housing Program (AHP) Advances	(6,613		)			(7,435		)
Premiums	1,926					2,061
Discounts	(4,947		)			(5,994		)
Hedging adjustments	(14,316		)			(13,138		)
Fair value option valuation adjustments and accrued interest	63					93
Total	$	71,088,071				$	69,882,074

The FHLB offers certain fixed and variable-rate Advances to members that may be prepaid on specified dates (call dates) without incurring prepayment or termination fees (callable Advances). If the call option is exercised, replacement funding may be available to members. Other Advances may only be prepaid subject to a prepayment fee paid to the FHLB that makes the FHLB financially indifferent to the prepayment of the Advance.

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



Year of Contractual Maturity or Next Call Date	June 30, 2017		December 31, 2016
Due in 1 year or less	$	41,825,393	$	33,831,156
Due after 1 year through 2 years	16,949,195		15,901,805
Due after 2 years through 3 years	7,612,968		13,608,214
Due after 3 years through 4 years	2,831,913		2,982,425
Due after 4 years through 5 years	592,255		2,243,105
Thereafter	1,300,756		1,340,316
Total par value	$	71,112,480	$	69,907,021

The FHLB also offers putable Advances. With a putable Advance, the FHLB effectively purchases put options from the member that allows the FHLB to terminate the Advance at predetermined dates. The FHLB normally would exercise its put option when interest rates increase relative to contractual rates.

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



Year of Contractual Maturity or Next Put Date	June 30, 2017		December 31, 2016
Due in 1 year or less	$	36,545,070	$	23,499,560
Due after 1 year through 2 years	17,097,173		21,248,138
Due after 2 years through 3 years	10,306,830		14,286,853
Due after 3 years through 4 years	1,887,708		5,322,050
Due after 4 years through 5 years	727,943		963,105
Thereafter	4,547,756		4,587,315
Total par value	$	71,112,480	$	69,907,021

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



	June 30, 2017		December 31, 2016
Total fixed-rate ⁽¹⁾	$	32,407,774	$	24,700,450
Total variable-rate ⁽¹⁾	38,704,706		45,206,571
Total par value	$	71,112,480	$	69,907,021


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

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



June 30, 2017					December 31, 2016
	Principal		% of Total Par Value of Advances			Principal		% of Total Par Value of Advances
JPMorgan Chase Bank, N.A.	$	26,850	38	%	JPMorgan Chase Bank, N.A.	$	32,300	46	%
U.S. Bank, N.A.	9,783		14		U.S. Bank, N.A.	8,563		12
Fifth Third Bank	4,367		6		Total	$	40,863	58	%
Total	$	41,000	58	%