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 April 2, 2026 (Item 2.03) reporting the creation of a direct financial obligation: it is the primary obligor on one or more consolidated obligations (bonds and/or discount notes) sold in the capital markets. Consolidated obligations are issued through the Office of Finance and are the joint and several obligations of the eleven Federal Home Loan Banks.

Key Details

• Filing date: April 2, 2026 (Item 2.03 — creation of a direct financial obligation).
• Consolidated obligations = bonds and discount notes; backed only by the financial resources of the 11 Federal Home Loan Banks and not guaranteed by the U.S. government.
• The Finance Agency (FHFA) may require any Federal Home Loan Bank to repay principal or interest for which another FHLB is the primary obligor.
• The filing includes a Schedule A describing consolidated obligations for which this Bank is the primary obligor; Schedule A generally excludes discount notes maturing in one year or less and shows principal at par (which may differ from GAAP amounts). The schedule does not necessarily show related derivatives or changes in total outstanding obligations.

Why It Matters

• This 8‑K alerts investors that the Bank has newly committed consolidated debt exposure as primary obligor. Because consolidated obligations are joint obligations of all Federal Home Loan Banks and are not U.S.‑government guaranteed, the Bank’s role as primary obligor affects its repayment responsibility and funding profile. Investors should check the Bank’s forthcoming periodic filings for the total consolidated obligations outstanding and any impact on the Bank’s reported liabilities and liquidity.