Federal Home Loan Bank of Des Moines Reports Consolidated Debt Commitments

What Happened
The Federal Home Loan Bank of Des Moines filed a Form 8‑K on October 1, 2026 (Item 2.03) disclosing commitments to issue consolidated obligations for which the Bank is the primary obligor. The filing attaches Schedule A, which lists consolidated obligation bonds and discount notes committed on the trade dates indicated (excluding discount notes with maturity of one year or less issued in the ordinary course). Consolidated obligations are bonds and discount notes sold through the Office of Finance and are the joint and several obligations of the eleven Federal Home Loan Banks.

Key Details

• Filing date: October 1, 2026 (Form 8‑K, Item 2.03); Schedule A attached as Exhibit 99.1.
• Consolidated obligations = bonds and discount notes sold via the Office of Finance through authorized dealers.
• Consolidated obligations are joint and several obligations of the 11 Federal Home Loan Banks, backed only by the financial resources of those Banks and not guaranteed by the U.S. government. The FHFA can require one Bank to repay obligations for which another Bank is the primary obligor.
• Schedule A excludes discount notes with maturities of one year or less issued in the ordinary course and reports principal at par (which may differ from GAAP amounts); it also does not reflect associated derivatives or total outstanding obligations (the Bank will report totals in periodic SEC filings).

Why It Matters
This disclosure informs investors about the Bank’s role as primary obligor on new consolidated obligations — a key part of how the Bank funds itself. Because consolidated obligations are not U.S. government–guaranteed and are a shared obligation of all Federal Home Loan Banks, these issuances affect the Bank’s debt profile and potential repayment responsibilities. Retail investors should review Schedule A and the Bank’s upcoming periodic reports for specifics on amounts, maturities and the total consolidated obligations outstanding.