Federal Home Loan Bank of San Francisco 8-K

What Happened
The Federal Home Loan Bank of San Francisco filed an 8‑K on March 12, 2026 disclosing the creation of a direct financial obligation: a consolidated obligation bond the Bank is the primary obligor on. Trade date was 3/09/2026 with settlement on 3/11/2026. The bond has a par amount of $15,000,000, a fixed coupon of 4.125%, a maturity date of 3/11/2031, and is callable (Bermudan optional principal redemption) with the next call date on 3/11/2027. The filing was signed by Richard McCarthy, Senior VP and Treasurer.

Key Details

• Trade date: 3/09/2026; Settlement date: 3/11/2026; Maturity date: 3/11/2031.
• CUSIP: 3130B9UP3; Bank par: $15,000,000; Coupon: 4.125% (fixed, constant).
• Call type/style: Optional Principal Redemption (callable); Bermudan call with next call date 3/11/2027.
• Consolidated obligations are joint and several obligations of the eleven Federal Home Loan Banks, sold through the Office of Finance, and are not guaranteed by the U.S. government.

Why It Matters
This filing shows the Bank raised long‑term funding through the Federal Home Loan Bank system by taking primary repayment responsibility for a $15M consolidated obligation. For investors, that affects the Bank’s funding mix and long‑term debt profile and establishes a fixed 4.125% interest cost on this $15M issue (subject to possible redemption after 3/11/2027). Note consolidated obligations are supported collectively by all eleven Federal Home Loan Banks and regulated by the Federal Housing Finance Agency; they are not U.S. government-guaranteed. The Bank will continue to report aggregate consolidated obligations outstanding in its periodic SEC filings.