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 20, 2026, reporting the creation of a direct financial obligation: it committed to issue consolidated obligations (debt securities) for which it is the primary obligor. Consolidated obligations (bonds and discount notes) are sold through the Office of Finance and are joint and several obligations of the eleven Federal Home Loan Banks.

Key Details

• Filing date: February 20, 2026 (Current Report on Form 8-K, Item 2.03).
• The specific issues and amounts are listed in Schedule A attached to the filing (Exhibit 99.1).
• 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 Federal Housing Finance Agency may require any Federal Home Loan Bank to repay all or part of consolidated obligations for which another Bank is the primary obligor.

Why It Matters

• This filing documents new debt commitments that affect how the Bank funds itself; consolidated obligations are a primary source of the Bank’s wholesale funding.
• Investors should note Schedule A shows commitments on trade dates, but it does not by itself show total consolidated obligations outstanding (short-term discount notes ≤1 year are generally excluded). The Bank will report totals in its periodic SEC filings.
• The disclosure clarifies credit and repayment risk: these securities are obligations of the FHLB system (not the U.S. Treasury) and the Finance Agency has authority to allocate repayment responsibility among the Banks.