Federal Home Loan Bank of Des Moines 8-K

What Happened
The Federal Home Loan Bank of Des Moines filed a Current Report on Form 8‑K on March 12, 2026 (Item 2.03) stating it has created a direct financial obligation by becoming the primary obligor on one or more consolidated obligations (bonds or discount notes) sold through the Office of Finance. The filing attaches a Schedule A (Exhibit 99.1) that lists the consolidated obligation bonds and discount notes committed to be issued by the Federal Home Loan Banks for which this Bank is the primary obligor, subject to the reporting conventions described in the filing.

Key Details

• Filing date: March 12, 2026; reported under Item 2.03 (Creation of a Direct Financial Obligation).
• The consolidated obligations are joint and several obligations of the 11 Federal Home Loan Banks and are sold via the Office of Finance; they are not guaranteed by the U.S. government.
• Schedule A (Exhibit 99.1) lists committed consolidated obligation bonds and discount notes for which the Bank is primary obligor; it generally excludes discount notes maturing in one year or less and may exclude related derivatives.
• Principal amounts on Schedule A are shown at par and may differ from GAAP amounts reported in the Bank’s financial statements.

Why It Matters
This filing notifies investors that the Bank has taken on primary repayment responsibility for certain consolidated obligations, which affects its debt obligations and funding profile. Because consolidated obligations are joint obligations of all Federal Home Loan Banks and are not U.S. government‑guaranteed, investors should note the shared repayment exposure among the system. The filing’s Schedule A and the Bank’s periodic reports will provide fuller details on outstanding consolidated obligations and any impact on the Bank’s reported liabilities.