The FHLB provides its members with various deposit accounts that may be used for a variety of reasons. All balances maintained by members in any of these deposit accounts are exempt from Regulation F.
Demand Deposit Account (DDA)
- Clearing account for all FHLB financial transactions.
- Balances earn interest at the Demand Account Rate (DDA); set daily.
- Daily available balance accrues interest daily; paid monthly.
- Monthly statement provided.
Overnight Deposit Account
- Interest-bearing investment account.
- Overnight rate set daily.
- Transfer to and from DDA in increments of $25,000.
- Interest is calculated on a 360-day basis; paid monthly to DDA.
- Monthly statement provided.
- 3 p.m. deadline Cincinnati time.
Federal Funds Deposit Account (FFDA)
- Alternative placement for Federal funds investments.
- Interest calculated on a 360-day basis; paid at maturity.
- Rate quote based on current Federal funds intra-day market rate.
- Minimum investment $5.0 million; increments of $1.0 million.
To learn more, contact Correspondent Services at 800-582-1890.