Federal Home Loan Bank of Pittsburgh 8-K

What Happened

• The Federal Home Loan Bank of Pittsburgh (FHLBank) filed a Form 8-K on January 2, 2026 (Item 2.03) reporting the creation of a direct financial obligation: it committed to issue consolidated obligation bonds and/or discount notes for which it is the primary obligor. Consolidated obligations are joint and several debt of the eleven Federal Home Loan Banks and are sold through the Office of Finance via authorized dealers. The filing was signed by Edward V. Weller, Chief Financial Officer.

Key Details

• The filing states Schedule A (filed as an exhibit) lists consolidated obligation bonds and discount notes committed to be issued by the FHLBank on the trade dates indicated.
• Schedule A excludes discount notes with maturities of one year or less issued in the ordinary course of business.
• 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 Finance Agency (regulator) can require any Federal Home Loan Bank to repay principal or interest on consolidated obligations for which another FHLBank is the primary obligor; the FHLBank may also assume primary repayment obligations from another Bank.

Why It Matters

• For investors and counterparties, this filing confirms the FHLBank has taken on specific debt obligations as primary obligor, which affects the Bank’s funding and repayment exposure. Because consolidated obligations are a primary funding source for the FHLBanks and are not government-guaranteed, the risk rests on the collective financial resources of the FHLBanks rather than the U.S. Treasury. The filing also notes Schedule A reports par principal amounts, which may differ from amounts shown in GAAP financial statements due to discounts, premiums or concessions.