The Federal Home Loan Bank of Dallas (FHLB Dallas) is closely monitoring the COVID-19 situation. We encourage members to bookmark this page and subscribe to our
email alerts to stay up to date on member news.
In response to the COVID-19 pandemic, FHLB Dallas has made available special advances and expanded existing grant and small business loan programs under its COVID-19 Relief Program.
Economic Development Program (EDP) Expansion
The EDP provides fixed-rate, fixed-term amortizing and non-amortizing advances – typically priced below standard advance rates for comparable maturities – to assist qualified members in funding economic development projects, small businesses, as well as community revitalization in targeted communities. Effective July 1, FHLB Dallas has temporarily expanded qualifications for EDP advances to include loans made to PPP-Eligible Entities whether the borrower received a PPP loan or not.
EDP advances are available in terms of three months to three years. EDP advance commitments for projects qualified as a PPP Eligible Entity are valid until December 31, 2020, or, if authorization for the PPP is renewed, six months after the latest expiration of the PPP authority. Copies of the original note(s) must be provided at the time of funding.
For more information, see the member bulletin on the EDP Expansion. Contact Member Services at Member.Services@fhlb.com or 844.FHL.BANK (844.345.2265) with questions.
New Collateral FAQs – COVID-19 Related Matters
FHLB Dallas has made several collateral requirement modifications to assist members and their borrowers impacted by the COVID-19 pandemic. Beginning March 26, 2020 (See bulletin), and until further notice, FHLB Dallas began accepting as eligible collateral certain loans with forbearance plans granted to borrowers in compliance with COVID-19 guidance from your primary regulator. For your convenience, we have compiled answers to members' commonly asked questions in this FAQ. We may update responses to these questions from time to time to align with relevant regulatory guidance
Expand Loan Collateral – SBA Paycheck Protection Program
FHLB Dallas is ready to accept Small Business Administration (SBA) Paycheck Protection Program (PPP) loans as eligible collateral, effective April 27, 2020. Members with credit ratings A through C, may expand their collateral availability by notifying FHLB Dallas that they want to opt in to this program and begin pledging PPP loans to FHLB Dallas under its listing program. Eligible members will be required to complete a
certification form related to these loans. Please also read the recent
member bulletin for more detailed information and requirements.