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 26, 2026, reporting the creation of direct financial obligations by committing to issue consolidated obligation bonds and discount notes as detailed in Schedule A. Consolidated obligations are bonds and discount notes that are the joint and several obligations of the eleven Federal Home Loan Banks, sold through the Office of Finance and authorized dealers, and backed only by the financial resources of the Federal Home Loan Banks (not the U.S. government). The filing also notes the Bank may have assumed primary repayment obligations for consolidated obligations from another Federal Home Loan Bank.

Key Details

• Filing date: March 26, 2026 (Form 8‑K reporting consolidated obligations in Schedule A).
• Instrument types: Consolidated obligation bonds and discount notes; Schedule A lists those for which this Bank is the primary obligor.
• Scope/limits: Schedule A generally excludes discount notes maturing in one year or less and may include obligations assumed from other FHLBs.
• Accounting note: Principal amounts on Schedule A are par amounts and may differ from amounts reported under GAAP (do not reflect discounts, premiums, etc.).

Why It Matters
Consolidated obligations are the Bank’s primary means of raising funds in the capital markets; commitments to issue them affect the Bank’s funding profile and outstanding debt for which it is the primary obligor. Investors should note these securities are not U.S. government guaranteed and that the Schedule A disclosure has limits (excludes short-term notes and may not match GAAP balances). For a complete view of total consolidated obligations outstanding and the financial impact, investors should review the Bank’s periodic SEC filings and financial statements.