To help ensure that Seattle Bank members will have timely access to funding in the
event of a disaster, the Seattle Bank has made emergency funding arrangements with
the Federal Home Loan Bank of Pittsburgh. Under this arrangement, the Pittsburgh
Bank will provide our members with access to overnight advances in the event that
the Seattle Bank is unable to do so. All transactions are subject to the Pittsburgh
Bank’s financial and operational capacity to provide emergency funding.
In order to expedite the transaction and ensure that a funding request is granted
in accordance with Seattle Bank policies, the Pittsburgh Bank must have a current
record of our members’ Federal Reserve Bank draw-down instructions or information
regarding the correspondent bank that will initiate the draw-down request.
If your institution changes correspondent banks, please notify
the Seattle Bank immediately by completing our
Emergency Funding Instructions form (pdf) and faxing the
completed form to 206.340.2350.
If the Seattle Bank experiences an event that requires the Pittsburgh Bank to provide
emergency funding, you will receive instructions on how to contact the Pittsburgh
Bank to make funding arrangements. Depending on the situation, we will notify our
members by fax and/or email, as well as by posting appropriate contact information
on our Web site.
If you have questions about this agreement, the Emergency Funding Instructions form,
or our contingency planning, please contact Member Services at 800.426.7538, or
send email to
Karen Mefford, Director of Member Operations.