Federal Home Loan Bank of Des Moines: reports creation of a direct financial obligation

What happened

• The Federal Home Loan Bank of Des Moines filed a Current Report on Form 8-K on Oct 20, 2026 and reported the creation of a direct financial obligation.
• The filing states the Bank obtains funds from the sale of "consolidated obligations" (bonds and discount notes), which are joint and several obligations of the 11 Federal Home Loan Banks and are sold through the Office of Finance.
• The filing includes Schedule A, which "sets forth all consolidated obligation bonds and discount notes committed to be issued by the Federal Home Loan Banks, for which the Bank is the primary obligor," on the trade dates indicated.

Key details

• Item reported: Item 2.03, creation of a direct financial obligation, filed Oct 20, 2026.
• "Consolidated obligations" consist of bonds and discount notes and are backed only by the financial resources of the 11 Federal Home Loan Banks; they are not guaranteed by the United States government.
• Schedule A excludes consolidated obligation discount notes with a maturity of one year or less issued in the ordinary course and reports principal amounts at par, which may differ from amounts in GAAP financial statements.
• The filing notes the Federal Housing Finance Agency (the "Finance Agency") may require any Federal Home Loan Bank to repay all or a portion of consolidated obligations for which another Bank is the primary obligor.

Why it may matter

• This Form 8-K reports Item 2.03: the creation of a direct financial obligation, covering consolidated obligations (bonds and discount notes) issued as joint and several obligations of the 11 Federal Home Loan Banks and detailed in Schedule A.
• The filing explains what Schedule A includes and what it excludes, and clarifies that consolidated obligations are not U.S. government guaranteed. The filing does not show why the company acted.