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 January 27, 2026 (Item 2.03) to disclose that it has committed to be the primary obligor on one or more consolidated obligations, thereby creating a direct financial obligation. The filing attaches Schedule A (Exhibit 99.1) listing the consolidated obligation bonds and discount notes committed to be issued for which the Bank is the primary obligor. Consolidated obligations are bonds and discount notes sold through the Office of Finance, are the joint and several obligations of the eleven Federal Home Loan Banks, are regulated by the Federal Housing Finance Agency (FHFA), and are backed only by the financial resources of the Federal Home Loan Banks (not guaranteed by the U.S. government).

Key Details

• Filing date: January 27, 2026; Item reported: 2.03 (Creation of a Direct Financial Obligation).
• Schedule A (Exhibit 99.1) lists consolidated obligation bonds/notes committed to be issued where the Bank is primary obligor; Exhibit 104 (inline XBRL) also filed.
• Consolidated obligations = bonds and discount notes sold via the Office of Finance; they are joint/several obligations of the 11 Federal Home Loan Banks and not U.S.‑guaranteed.
• Schedule A excludes consolidated obligation discount notes with maturity ≤1 year, may not show related interest‑rate swaps, and reports par amounts (which may differ from GAAP amounts); the Bank will report total consolidated obligations outstanding in its periodic SEC filings.

Why It Matters
This 8‑K notifies investors that the Bank has taken on a new funding commitment (direct financial obligation) as primary obligor on certain consolidated obligations. Because consolidated obligations are joint obligations of all Federal Home Loan Banks, such commitments can create cross‑exposure among the banks and affect the Bank’s funding profile and liquidity. The filing does not state materiality for specific obligations; investors should review Schedule A in Exhibit 99.1 and the Bank’s upcoming periodic reports for dollar amounts, maturities and the Bank’s total consolidated obligations outstanding.