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 (Item 2.03) on March 3, 2026 announcing the creation of direct financial obligations through consolidated obligations (bonds and discount notes).
• Consolidated obligations are sold through the Office of Finance and are the joint and several obligations of all eleven Federal Home Loan Banks; they are backed only by the Banks’ financial resources and are not guaranteed by the U.S. government. Schedule A, included with the filing, lists consolidated obligation bonds and discount notes the Bank is committed to issue as primary obligor on the indicated trade dates.

Key Details

• Filing date: March 3, 2026 (Form 8‑K, Item 2.03).
• Schedule A reports consolidated obligation bonds and discount notes committed to be issued for which the Bank is the primary obligor; it excludes discount notes with maturities of one year or less issued in the ordinary course.
• Consolidated obligations are joint obligations of the 11 Federal Home Loan Banks and the FHFA can require any Bank to repay obligations for which another Bank is the primary obligor.
• Principal amounts on Schedule A are reported at par and may differ from amounts presented under GAAP (do not reflect discounts, premiums or concessions).

Why It Matters

• Consolidated obligations are the Bank’s primary funding source; commitments to issue them affect the Bank’s debt issuance and liquidity profile.
• Because these securities are joint obligations of all Federal Home Loan Banks (and not U.S. government‑guaranteed), investors should note the shared repayment exposure across the Bank System and that Schedule A does not by itself show total outstanding obligations or short‑term note activity.
• The Bank will continue to disclose total consolidated obligations outstanding and any material changes in its periodic SEC filings; Schedule A provides transaction‑level commitments but not a complete picture of overall outstanding debt.