Federal Home Loan Bank of Des Moines 8-K

What Happened

• On March 31, 2026 the Federal Home Loan Bank of Des Moines filed a Current Report on Form 8-K (Item 2.03) reporting the creation of a direct financial obligation in the form of consolidated obligations (bonds and discount notes) for which it is the primary obligor. Consolidated obligations are the joint and several debt of the eleven Federal Home Loan Banks and are issued through the Office of Finance under regulation by the Federal Housing Finance Agency (FHFA).

Key Details

• Filing date: March 31, 2026 (Item 2.03 — creation of a direct financial obligation).
• Consolidated obligations = bonds and discount notes sold to the public through the Office of Finance; they are joint obligations of the 11 Federal Home Loan Banks and are not guaranteed by the U.S. government.
• Schedule A in the filing lists consolidated obligation bonds and discount notes committed to be issued for which this Bank is the primary obligor; it generally excludes discount notes maturing in one year or less and may include assumed obligations with remaining maturities >1 year.
• The FHFA may require one Federal Home Loan Bank to repay obligations for which another Bank is the primary obligor; the filing notes par amounts are at face value and may differ from GAAP amounts, and the Bank has not made a materiality judgment about any specific obligation.

Why It Matters

• This disclosure relates to how the Bank raises funding and the liabilities on which it may be primarily responsible. Consolidated obligations are a key source of funding for Federal Home Loan Banks, so issuance or assumption of these debts affects the Bank’s funding profile and repayment responsibilities.
• Investors should note these obligations are backed only by the financial resources of the Federal Home Loan Banks (not the U.S. government) and that Schedule A does not show short-term discount notes or the Bank’s total consolidated obligations outstanding; check the Bank’s periodic reports for comprehensive totals and financial statement treatment.