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Correspondent Services

FHLBank Pittsburgh offers a number of Correspondent Services to customers looking for quality service at a competitive price. Available services include:

• Depository Services
• Electronic Funds Transfer Services
• Safekeeping Services
• Settlement Services
• Bank4Banks^®

Depository Services

The Product Delivery Group manages FHLBank's Demand Deposit Accounts (DDAs), which include the required cash account for each customer choosing to do business with FHLBank, as well as specialized accounts to help customers better manage their business lines and cash flows. Product Delivery manages approximately 626 DDAs with an average total balance of over $1 billion. All customer-related transactions — deposits, Fed settlements, loans, safekeeping transactions, automated clearing house and wires — are posted to these accounts each business day, and the resulting balances are an integral part of each customer's cash management tools.

Electronic Funds Transfer Services

Electronic Funds Transfer Services include a range of Fedwire and Automated Clearing House (ACH) services such as secure options for domestic and international wire transfers (U.S. or foreign currency) as well as Drawdown transactions. These transactions provide the customer with the ability to move funds between their FHLBank DDAs and their external accounts, such as those at the Federal Reserve Bank (FRB), as well as their customer's domestic and foreign currency wires (third-party wires). On a typical day, the Product Delivery Group processes hundreds of wire transfer and ACH settlement activity on behalf of customers, moving billions of dollars through the FRB's Fedwire system or through the ACH. Customers using these services take advantage of Electronic Funds Transfer Services' experienced staff, state-of-the-art technology and regulatory compliance monitoring — all at a competitive price. Combined with centralized real-time reporting of account activity and balances via Bank4Banks, customers are provided with efficient and effective tools to manage their cash flows.

Safekeeping Services

Customers receive a competent, reliable and competitively priced securities custodial service. Through Citibank, N.A., a major player in the custody industry, FHLBank offers customers a full range of custodial services, such as settlement of book entry (electronically held) and physical securities. Customers may have any number of Safekeeping accounts to satisfy their pledging and contractual requirements.

Settlement Services

The settlement services function provides for the financial settlement, credit of availability and reconcilement of all customers' activities for which FHLBank is their primary correspondent. FHLBank maintains accounts with multiple financial institutions, including several Federal Reserve Banks, for flexibility in the settlement of such customer activities as deposit and inclearing items, as well as other miscellaneous transactions. FHLBank also offers Official Check Settlement through MoneyGram^®.

Bank4Banks

FHLBank's secure transactional website, Bank4Banks, is designed to afford customers a flexible and timesaving alternative for viewing, printing and downloading reports/data while transacting business directly with FHLBank. Correspondent Services executed through Bank4Banks include a number of key features:

• Safekeeping trade and securities transfers, as well as cash management account transfers and electronic funds transfers (wires), may all be transacted online.
• The ability to view transactions and balances real-time enables customers to make timely cash management decisions with ease.
• Detailed information and reports may be viewed, printed or downloaded.
• Customized queries may be created by using specified data fields, such as dates, date ranges, transaction types and/or product-specific fields.
• Future-dated safekeeping transactions, including trade settlements and P&I payments, are also available.

No matter the transaction, security is a high priority in the processing and communication of Bank4Banks activities. The site's authentication process is multi-factor, and information is encrypted and securely transmitted.

For more information on Correspondent Services, please contact the Product Delivery Group at 1-800-288-3400, option 2, or send email to pd@fhlb-pgh.com. You may also contact your relationship manager at 1-800-288-3400 or send to marketing@fhlb-pgh.com.

"Bank4Banks" is a registered trademark of the Federal Home Loan Bank of Pittsburgh.