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 February 12, 2026 (Item 2.03) reporting the creation of direct financial obligations through consolidated obligation bonds and discount notes for which the Bank is the primary obligor. Consolidated obligations are the debt securities the Bank and the other ten Federal Home Loan Banks sell to raise funds; they are joint and several obligations of all eleven Banks and are sold through the Office of Finance.

Key Details

• Filing date: February 12, 2026 (Form 8‑K, Item 2.03).
• Reported instruments: consolidated obligation bonds and discount notes committed to be issued by the Federal Home Loan Banks for which this Bank is primary obligor (Schedule A was provided).
• Regulatory context: consolidated obligations are regulated by the Federal Housing Finance Agency (FHFA); FHFA may require one Bank to repay obligations for which another Bank is the primary obligor.
• Important exclusions/notes: Schedule A generally excludes discount notes maturing in one year or less, does not show related derivatives or how proceeds will be used, and reports principal at par (which can differ from GAAP amounts).

Why It Matters
For investors, this filing signals changes in the Bank’s funding and liability profile because consolidated obligations are the primary source of wholesale funding for the Federal Home Loan Banks. Being listed as the primary obligor on specific consolidated obligations means the Bank has the direct repayment responsibility for those securities (though consolidated obligations remain joint obligations of all eleven Banks). The filing does not provide dollar amounts in the body text here, so investors should review Schedule A and the Bank’s periodic reports for detail on outstanding consolidated obligations and any potential impact on balance‑sheet leverage or funding costs.