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 April 9, 2026 reporting the creation/commitment of consolidated obligation debt securities (bonds and discount notes) as a source of funding. The filing references Schedule A, which lists consolidated obligations the Bank is the primary obligor for on the indicated trade dates.

Key Details

• Consolidated obligations are joint and several obligations of the eleven Federal Home Loan Banks and are sold through the Office of Finance via authorized dealers.
• The Federal Housing Finance Agency (FHFA) regulates the Federal Home Loan Banks and may require any Bank to repay principal or interest on consolidated obligations if another Bank is the primary obligor.
• Consolidated obligations are backed only by the financial resources of the eleven Banks and are not guaranteed by the U.S. government.
• Schedule A excludes discount notes maturing in one year or less and reports principal at par (which may differ from GAAP amounts due to discounts, premiums or concessions); it also does not reflect associated derivative arrangements such as interest-rate exchange agreements.

Why It Matters

• For investors, this filing confirms the Bank is using consolidated obligations (debt sold in the capital markets) to fund operations and manage liquidity. Because these obligations are joint across the Federal Home Loan Banks and not government‑guaranteed, they affect the Bank’s consolidated debt profile and counterparty/repayment considerations. The Schedule A details help track commitments but do not by themselves show short-term notes, actual outstanding balances, or accounting valuation differences — those appear in the Bank’s periodic financial reports.