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Upcoming changes to MOVR advance 

Beginning on April 1, 2017, the following changes will go into effect for our Member Option Variable-rate Advance (MOVR):

  • An additional spread to incorporate the term structure will be applied to all new and existing MOVR advances at their scheduled reset points.
  • The maximum final maturity on new advances will be reduced from 30 years to seven years
  • The one month reset frequency will no longer be offered on new advances
  • A $10 billion volume cap per member will be implemented with the rate reflecting the premium above the cap.  This cap will also be in effect for other option-embedded products such as the Member Option LIBOR Advance (MOLA).

For questions regarding existing MOVR advances or if you are interested in learning more about how this product can meet your business needs, please contact your Relationship Manager.

Member Product Policy Update

We have updated the Member Products Policy effective March 15, 2017. No material changes were made with this annual policy review. The term "Insured Depository Institution" was replaced with "Depository Institution" in the glossary. The updated Member Products Policy found on the Members site. If you have any questions, please contact your Relationship Manager. 

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