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Short-Term Funding Strategies

Consider using short-term advances with maturities that extend past year-end 2019 to help diversify your short-term funding.

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Q3 2019 Economic Update

View our recently released economic overview for up-to-date economic data and high-level reasoning and insights from our Strategies Team.

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Our broad menu of short-term and long-term funding options provide members with reliable, cost-effective liquidity to manage capital and interest rate risk for their institutions.

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Fixed-Rate Advances

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Indications as of 11/21/2019 at 8:46 AM

TermAdvance Rate
RegularDividend Adjusted Rate*SymmetricalCIA
Prev Overnight1.79%1.56%  
Overnight1.78%1.55%  
1 Week1.79%1.56%  
2 Weeks1.81%1.58%  
3 Weeks1.81%1.58%  
1 Month1.83%1.60%  
2 Months1.81%1.58%  
3 Months1.82%1.59%  
4 Months1.82%1.59%  
5 Months1.82%1.59%  
6 Months1.83%1.60%  
7 Months1.84%1.61%  
8 Months1.84%1.61%  
9 Months1.84%1.61%  
10 Months1.85%1.62%  
11 Months1.85%1.62%  
1 Year1.90%1.67%1.95%1.74%
1.5 Years1.91%1.68%1.96%1.74%
2 Years1.89%1.66%1.94%1.71%
3 Years1.88%1.65%1.93%1.70%
4 Years1.92%1.69%1.97%1.74%
5 Years1.96%1.73%2.01%1.77%
6 Years2.06%1.83% 1.87%
7 Years2.11%1.88% 1.92%
8 Years2.21%1.98% 2.02%
9 Years2.25%2.02% 2.06%
10 Years2.28%2.05% 2.09%
11 Years2.35%2.12% 2.16%
12 Years2.43%2.20% 2.24%
13 Years2.50%2.27% 2.31%
14 Years2.57%2.34% 2.38%
15 Years2.64%2.41% 2.45%
16 Years2.69%2.46% 2.50%
17 Years2.74%2.51% 2.55%
18 Years2.78%2.55% 2.59%
19 Years2.83%2.60% 2.64%
20 Years2.87%2.64% 2.68%
25 Years2.98%2.75% 2.79%
30 Years3.06%2.83% 2.88%

Notes

* The dividend adjusted rate is an approximation based off of our current stock requirement and current dividend payment. This is an approximation only. For alternative dividend adjusted calculations, please consider using our dividend calculator. These calculations are indications only.

Comments

For additional product details, please review our product suite.

For Fixed-Rate Advances not listed above, please contact the Money Desk at 800.544.3452, ext. 2122.

The minimum size for advances eligible for the symmetrical prepayment feature is $1 million and maximum term to maturity of 5 years.

Interest on advances with maturities ≤ 6 months is due at maturity.

Interest on advances with maturities > 6 months is due monthly.

Other terms and conditions may apply.

Forward Starting Fixed-Rate Advances

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Indications as of 11/21/2019 at 8:46 AM

TermForward StartAdvance Rate
RegularDividend Adjusted Rate*Rate w/o Forward Start
1 Years1 Month1.90%1.67%1.90%
1 Years3 Months1.83%1.60%1.90%
1 Years6 Months1.75%1.52%1.90%
2 Years3 Months1.94%1.71%1.89%
2 Years6 Months1.90%1.67%1.89%
2 Years1 Year1.87%1.64%1.89%
3 Years3 Months1.95%1.72%1.88%
3 Years6 Months1.93%1.70%1.88%
3 Years1 Year1.91%1.68%1.88%

Notes

* The dividend adjusted rate is an approximation based off of our current stock requirement and current dividend payment. This is an approximation only. For alternative dividend adjusted calculations, please consider using our dividend calculator. These calculations are indications only.

Comments

For structures not listed above, please contact the Money Desk at 800.544.3452, ext. 2122.

Other terms and conditions may apply.

Amortizing Advances

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Indications as of 11/21/2019 at 8:46 AM

TermAmort.Amort. DelayAmort. Freq.Pre-Pay Option1Advance Rate
Reg.Div. Adjust*Sym.CIA
5 Years10 Years Annual3 Years2.13%1.90% 1.95%
5 Years15 Years MonthlyNone1.95%1.72% 1.76%
5 Years20 Years MonthlyNone1.95%1.72% 1.76%
5 Years25 Years MonthlyNone1.95%1.72% 1.76%
7 Years6.5 Years6 MonthsMonthlyNone1.97%1.74% 1.78%
7 Years20 Years MonthlyNone2.06%1.83% 1.87%
7 Years30 Years MonthlyNone2.08%1.85% 1.89%
10 Years9 Years12 MonthsMonthlyNone2.08%1.85% 1.89%
10 Years10 Years MonthlyNone2.04%1.81% 1.85%
10 Years10 Years Monthly5 Years2.16%1.93% 2.00%
10 Years15 Years MonthlyNone2.13%1.90% 1.94%
10 Years15 Years Monthly5 Years2.40%2.17% 2.21%
10 Years20 Years MonthlyNone2.17%1.94% 1.98%
10 Years20 Years Monthly5 Years2.49%2.26% 2.30%
13 Years15 Years AnnualNone2.21%1.98% 2.02%
15 Years10 Years60 MonthsMonthly7 Years2.77%2.54% 2.58%
15 Years12 Years36 MonthsMonthly5 Years2.79%2.56% 2.60%
15 Years15 Years MonthlyNone2.20%1.97% 2.01%
15 Years15 Years Monthly5 Years2.53%2.30% 2.34%
15 Years15 Years Annual5 Years2.57%2.34% 2.38%
15 Years25 Years Monthly5 Years2.94%2.71% 2.75%
15 Years30 Years Monthly7 Years2.85%2.62% 2.66%
20 Years19 Years12 MonthsMonthly5 Years3.00%2.77% 2.81%

Notes

* The dividend adjusted rate is an approximation based off of our current stock requirement and current dividend payment. This is an approximation only. For alternative dividend adjusted calculations, please consider using our dividend calculator. These calculations are indications only.

1. Earliest opportunity member has the option to pre-pay without a fee.

Comments

For additional product details, please review our product suite.

For Amortizing Advances not listed above, please contact the Money Desk at 800.544.3452, ext. 2122.

The minimum size for advances eligible for the symmetrical prepayment feature is $1 million and maximum term to maturity of 5 years.

Amortizing advance rates are based upon level payments (i.e. not straight line) over the life of the advance.

Other terms and conditions may apply.

Straight Line Amortizing Advances

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Indications as of 11/21/2019 at 8:46 AM

Advance Term/AmortizationPayment TypePayment FrequencyAdvance Rates
RegularDividend Adjusted Rate*CIA
2 YearsLevel PrincipalMonthly1.90%1.67%1.72%
3 YearsLevel PrincipalMonthly1.89%1.66%1.71%
4 YearsLevel PrincipalMonthly1.90%1.67%1.72%
5 YearsLevel PrincipalMonthly1.91%1.68%1.72%
7 YearsLevel PrincipalMonthly1.95%1.72%1.76%
10 YearsLevel PrincipalMonthly2.04%1.81%1.85%
15 YearsLevel PrincipalMonthly2.18%1.95%1.99%
20 YearsLevel PrincipalMonthly2.32%2.09%2.13%
30 YearsLevel PrincipalMonthly2.53%2.30%2.35%

Notes

* The dividend adjusted rate is an approximation based off of our current stock requirement and current dividend payment. This is an approximation only. For alternative dividend adjusted calculations, please consider using our dividend calculator. These calculations are indications only.

Comments

Maximum advance term of 30 years.

Fully amortized at maturity.

Eligible for Community Investment Advance and symmetrical prepayment pricing.

The minimum size for advances eligible for the symmetrical prepayment feature is $1 million and maximum term to maturity of 5 years.

Interest calculated on an actual/360 basis.

For structures not listed above, please contact the Money Desk at 800.544.3452, ext. 2122.

Other terms and conditions may apply.

Prime Rate Indexed Advances

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Indications as of 11/21/2019 at 8:46 AM

TermSpread to PrimeInitial Advance Rate1CIA Spread to PrimeInitial CIA Rate2
6 Months-2.66%2.09%  
12 Months-2.47%2.28%-2.79%1.96%
18 Months-2.45%2.30%-2.76%1.99%
24 Months-2.36%2.39%-2.67%2.08%

Notes

1. Initial Advance Rate is Prime Rate plus Spread to Prime. The Advance Rate will adjust when the Prime Rate changes.

2. Initial CIA Rate is Prime Rate plus CIA Spread to Prime. The CIA Rate will adjust when the Prime Rate changes.

Comments

For additional product details, please review our product suite.

For Prime Rate Indexed Advances not listed above, please contact the Money Desk at 800.544.3452, ext. 2122.

Minimum advance size is $100,000.

Prime Rate is defined by the USD-Prime-H.15 as published in the Federal Reserve Statistical Release H.15.

Other terms and conditions may apply.

LIBOR Indexed Advances

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Indications as of 11/21/2019 at 8:46 AM

TermLIBOR Index1Spread to LIBORCIA Spread to LIBOR
1 Year1 Month0.340%0.200%
1 Year3 Month0.210%0.060%
2 Years1 Month0.420%0.280%
2 Years3 Month0.290%0.150%
3 Years1 Month0.520%0.300%
3 Years3 Month0.400%0.180%
5 Years1 Month0.580%0.360%
5 Years3 Month0.470%0.250%

Notes

1. Rate reset frequency is the same as the LIBOR index (1 month, 3 months or 6 months).

Comments

For additional product details, please review our product suite.

FHLB Des Moines is no longer able to display LIBOR rate information on our website. 

For LIBOR Indexed Advances not listed above, please contact the Money Desk at 800.544.3452, ext. 2122.

Other terms and conditions may apply.

Member Option Variable-Rate Advances

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Indications as of 11/21/2019 at 8:46 AM

TermRate Reset Frequency1Advance Rate
1 Year3 Months2.00%
1 Year6 Months2.04%
2 Years3 Months2.06%
2 Years6 Months2.11%
3 Years3 Months2.09%
3 Years6 Months2.14%
4 Years3 Months2.14%
4 Years6 Months2.19%
5 Years3 Months2.16%
5 Years6 Months2.21%

Notes

1. Effective April 3, 2017, rate reset frequencies on new MOVR advances are limited to 3 months or 6 months with a maximum term to maturity of 5 years.

Comments

The advance rate for MOVR advances originated prior to April 3, 2017, having a monthly rate reset frequency will continue to reprice monthly, but will receive the quarterly reset rate.

Advances may only be prepaid in full on scheduled rate reset dates with proper notice.

Minimum advance size of $500,000 in $100,000 increments. Other terms and conditions may apply.

For additional details, please review our product suite.

For Member Option Variable-Rate Advances not listed above, please contact the Money Desk at 800.544.3452, ext. 2122.

Capped LIBOR Indexed Advances

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Indications as of 11/21/2019 at 8:46 AM

TermLIBOR Index1Cap Strike 2Spread to LIBORCap Rate3CIA Spread to LIBORCIA Cap Rate4
1 Year1 Month4.00%0.360%4.360%0.220%4.220%
1 Year3 Month4.00%0.230%4.230%0.080%4.080%
3 Years1 Month4.00%0.540%4.540%0.320%4.320%
3 Years3 Month4.00%0.420%4.420%0.200%4.200%
5 Years1 Month4.00%0.610%4.610%0.390%4.390%
5 Years3 Month4.00%0.490%4.490%0.270%4.270%

Notes

1. Rate reset frequency is the same as the LIBOR Index (1 month, 3 months or 6 months).

2. LIBOR Index rate used to determine the maximum advance rate.

3. Maximum advance rate equals Cap Strike Rate plus Spread to LIBOR.

4. Maximum advance rate equals Cap Strike Rate plus Spread to LIBOR.

Comments

For additional details, please review our product suite.

FHLB Des Moines is no longer able to display LIBOR rate information on our website. 

For Capped LIBOR Indexed Advances not listed above, please contact the Money Desk at 800.544.3452, ext. 2122.

Advances must be a minimum of $1,000,000.

Other terms and conditions may apply.

Member Option Fixed-Rate Advances

Please contact the Money Desk at 800.544.3452, ext. 2122 for current rate indications.

If you would like to learn more about this product, please refer to our product suite

Convertible Advances

Please contact the Money Desk at 800.544.3452, ext. 2122 for current rate indications.

If you would like to learn more about this product, please refer to our product suite

Member Option LIBOR Advances

Download Product Rate Sheet - Excel, PDF, Print

Indications as of 11/21/2019 at 8:46 AM

Advance TermLIBOR IndexSpread to LIBOR
1 Years1 Month0.360%
1 Years3 Month0.230%
1 Years6 Month0.320%
2 Years1 Month0.440%
2 Years3 Month0.374%
2 Years6 Month0.400%
3 Years1 Month0.540%
3 Years3 Month0.581%
3 Years6 Month0.500%
5 Years1 Month0.619%
5 Years3 Month0.499%
5 Years6 Month0.580%

Comments

Pre-payable without fee on scheduled rate reset dates with proper notice. 

Not eligible for Community Investment Advance or symmetrical prepayment pricing.

Interest calculated on an actual/360 basis.

For structures not listed above, please contact the Money Desk at 800.544.3452, ext. 2122.

Other terms and conditions may apply.

SOFR Indexed Advances

Please contact the Money Desk at 800.544.3452, ext. 2122 for current rate indications.

If you would like to learn more about this product, please refer to our product suite

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Featured

eAdvantage LogineAdvantage is FHLB Des Moines secure, online member site where you can conveniently view statements and reports, monitor account balances, advances, capital stock, collateral and more. Community Investment AdvancesFor members of FHLB Des Moines, meeting the credit needs of their local community is being a good neighbor and is also good business. CollateralWe offer an extensive collateral menu including a variety of real estate loans, mortgage and business loans, government-guaranteed loans, securities and time certificates of deposit. StrategiesThe FHLB Des Moines Relationship Managers and Strategies Teams are your complimentary consulting resource available to provide tools and analysis for your unique markets and opportunities.

Educational Resources

Common Misconceptions of Community Investment Advances Article Common Misconceptions of Community Investment Advances Are you maximizing your community impact on housing and economic development projects through Community Investment Advances (CIA)? There are a few common questions and misconceptions that we wanted to debunk about using CIAs to ensure all members feel confident using these advances. Operational Liquidity Testing Checklist and Best Practices Article Operational Liquidity Testing Checklist and Best Practices Testing ensures your operational procedures are effective and demonstrates your access to liquidity. Can your institution demonstrate the appropriate personnel understand the process of requesting funds from FHLB Des Moines? Short-Term Funding Strategies Article Short-Term Funding Strategies Consider the benefits of short-term advances to stabilize your balance sheet over year-end. “Blend and Extend” Funding Strategies: An Effective Means of Decreasing Future Funding Costs, Customizing Balance Sheet Duration and Pre-Funding Article “Blend and Extend” Funding Strategies: An Effective Means of Decreasing Future Funding Costs, Customizing Balance Sheet Duration and Pre-Funding While most financial institutions typically make the decision to roll the maturity at the time the advance matures, in certain circumstances, members of FHLB Des Moines have the ability to extend the advance prior to the maturity date.

See all educational resources regarding this topic.