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 March 17, 2026 (Item 2.03) reporting the creation of a direct financial obligation: it committed to issue consolidated obligation bonds/discount notes for which it is the primary obligor, as listed on Schedule A. Consolidated obligations are debt securities sold by the Office of Finance and are joint and several obligations of the eleven Federal Home Loan Banks. These obligations are backed only by the financial resources of the Banks and are not guaranteed by the U.S. government; the Federal Housing Finance Agency (FHFA) may require any Bank to repay principal or interest for which another Bank is the primary obligor.

Key Details

• Filing date: March 17, 2026 (Form 8-K, Item 2.03).
• Schedule A lists consolidated obligation bonds and discount notes committed to be issued where the Bank is the primary obligor (excludes discount notes with maturity ≤ 1 year issued in ordinary course).
• Consolidated obligations are joint and several obligations of the 11 Federal Home Loan Banks and are not U.S. government guaranteed.
• Principal amounts on Schedule A are reported at par and may differ from GAAP amounts (do not reflect discounts, premiums, concessions).

Why It Matters
This filing notifies investors that the Bank has taken on (or will issue) debt for which it is the primary obligor, which affects the Bank’s direct repayment responsibilities. Because consolidated obligations are shared obligations of all Federal Home Loan Banks and lack a U.S. government guarantee, investors should track the Bank’s total consolidated obligations in its periodic SEC reports (the Form 8-K Schedule A alone does not show short-term discount notes ≤1 year or GAAP-reported liability amounts).