Federal Home Loan Bank of Topeka 8-K

What Happened

• The Federal Home Loan Bank of Topeka (FHLBank) filed an 8‑K (Item 2.03) reporting that, on trade date 12/30/2025, it committed to issue six consolidated obligation bonds/notes with a combined par amount of $2,810,000,000. Settlement dates range from January to February 2026 and maturities range from 2026 to 2033. One issue is a $10 million fixed-rate bond (4.73% coupon, American callable) and the remaining five issues are variable single-index floating-rate notes (totaling $2.8 billion).

Key Details

• Trade date: 12/30/2025; total principal at par: $2,810,000,000.
• Issues include: $10,000,000 fixed-rate (4.73%) callable bond; five single-index floaters of $500M, $500M, $500M, $750M and $550M.
• Settlement dates occur in Jan–Feb 2026; maturities reported between 2026 and 2033 (see Schedule A for specific dates and call features).
• Consolidated obligations are joint and several obligations of all 11 Federal Home Loan Banks and are sold via the Office of Finance; they are not guaranteed by the U.S. government.

Why It Matters

• These are new debt commitments that increase the FHLBank’s share of consolidated obligations for which it is the primary obligor. Consolidated obligations are a primary funding source for FHLBanks, so new issuances affect the Bank’s funding profile and interest‑rate/repayment mix.
• Investors should note consolidated obligations are backed only by the financial resources of the Federal Home Loan Banks (not the U.S. government) and FHFA rules can require one FHLBank to repay obligations for which another is primary obligor. The filing also warns Schedule A excludes certain short-term discount notes and may not show total outstanding obligations—total outstanding primary‑obligor amounts will be in periodic reports.