Pub. 7 2019 Issue 1

Issue 1. 2019 21 Figure 3. Key Feature Differences Advances vs. Brokered CD’s Depending upon the interest rate environment or location on the yield curve, dividend-adjusted advance rates may or may not be comparable. You’ll never know unless you run the dividend adjustment calculation. Run your own customized scenario by accessing this tool: http://www.fhlbdm.com/dividend-tool It pays to dig beneath the surface. When it comes to wholesale funding rates, what you see may not necessarily be what you get! n