The following is a summary of the Company’s other borrowings as of December 31, 2021 and 2020:


	2021		2020
Paycheck Protection Program Liquidity Facility	$	—	$	371,907
Federal Home Loan Bank advances		490,000		234,000
Securities sold under agreements to repurchase		29,723		41,994
Line of credit		—		—
Total	$	519,723	$	647,901

On April 21, 2020, the Bank entered into a Letter Agreement with the Federal Reserve Bank of Chicago that allows the Bank to access the Paycheck Protection Program Liquidity Facility (“PPPLF”). Under the terms of the PPPLF, the Bank pledges loans originated under the PPP to the Federal Reserve Bank of Chicago as collateral for available advances under the PPPLF. Advances under the PPPLF will be an amount equal to the aggregate principal amount of PPP loans pledged by Byline Bank, carry an interest rate of 35 basis points and mature on the maturity date of the PPP loans pledged as collateral for the advance. As of December 31, 2021, the PPPLF had been repaid and carried no balance.

Byline Bank has the capacity to borrow funds from the discount window of the FRB. As of December 31, 2021, and December 31, 2020, there were no outstanding advances under the FRB discount window line. The Company pledges loans and leases as collateral for the FRB discount window borrowing. Refer to Note 5 – Loan and Lease Receivables for additional discussion.

At December 31, 2021, fixed-rate advances totaled $230.0 million, with interest rates ranging from 0.00% to 0.22% and maturities ranging from February 2022 to May 2022. Total variable rate advances were $260.0 million at December 31, 2021, with an interest rate of 0.33% that may reset daily, and mature in February 2022. The Company’s advances from the FHLB are collateralized by residential real estate loans, commercial real estate loans, and securities. The Company’s required investment in FHLB stock is $4.50 for every $100 in advances. Refer to Note 4—Securities for additional discussion. subject to the availability of proper collateral. The Bank’s maximum borrowing capacity is limited to 35% of total assets.

Securities sold under agreements to repurchase represent a demand deposit product offered to customers that sweep balances in excess of the FDIC insurance limit into overnight repurchase agreements. The Company pledges securities as collateral for the repurchase agreements. Refer to Note 4—Securities for additional discussion.

On October 13, 2016, the Company entered into a $30.0 million revolving credit agreement with a correspondent bank. Through subsequent amendments, the revolving credit agreement was reduced to $15.0 million and the maturity of the credit facility was extended to October 7, 2022. The amended revolving line of credit bears interest at either LIBOR plus 195 basis points or the Prime Rate minus 75 basis points, not to be less than 2.00%, based on the Company’s election, which is required to be communicated at least three business days prior to the commencement of an interest period. If the Company fails to provide timely notification, the interest rate will be Prime Rate minus 75 basis points. At December 31, 2021 and December 31, 2020, the line of credit had no outstanding balance.

The Company hedges interest rates on borrowed funds using interest rate swaps through which the Company receives variable amounts and pays fixed amounts. Refer to Note 22—Derivative Instruments and Hedging Activities for additional discussion.

The following table presents short-term credit lines available for use as of December 31, 2021 and 2020:


	2021		2020
Federal Home Loan Bank line	$	1,883,349	$	2,016,212
Federal Reserve Bank of Chicago discount window line		602,962		874,677
Available federal funds lines		115,000		115,000