Federal Home Loan Bank of Des Moines 8-K

What Happened

• The Federal Home Loan Bank of Des Moines filed a Form 8‑K on January 15, 2026 announcing the creation of direct financial obligations through commitments to issue consolidated obligation bonds and discount notes. Consolidated obligations are the debt securities the Bank uses to fund its operations; they are issued through the Office of Finance and are joint and several obligations of the eleven Federal Home Loan Banks.

Key Details

• Consolidated obligations consist of bonds and discount notes; Schedule A (reported in the filing) lists consolidated obligation bonds and discount notes committed to be issued for which this Bank is the primary obligor on the trade dates shown.
• Schedule A generally excludes consolidated obligation discount notes with maturities of one year or less issued in the ordinary course, and may include obligations the Bank assumed from another Federal Home Loan Bank with remaining maturity over one year.
• Consolidated obligations are backed only by the financial resources of the eleven Federal Home Loan Banks and are not guaranteed by the U.S. government.
• The Bank noted it has not made a materiality determination for any particular consolidated obligation and that par amounts reported on Schedule A may differ from GAAP amounts (discounts/premiums not reflected).

Why It Matters

• For investors, this filing relates to how the Bank obtains funding and its outstanding debt obligations. Consolidated obligations are a primary source of funding for the Federal Home Loan Banks, so new commitments or assumptions can affect the Bank’s funding mix and repayment responsibilities.
• Because these obligations are joint across all Federal Home Loan Banks and not government‑guaranteed, changes in issuance or assumed obligations can influence credit exposure and should be monitored in the Bank’s periodic reports, which will report total consolidated obligations outstanding and GAAP-accounted amounts.