Federal Home Loan Bank of Topeka Issues Consolidated Obligations (Debt)

What Happened
The Federal Home Loan Bank of Topeka (FHLBank) filed an 8‑K (Item 2.03) on Sept 22, 2026, reporting that it is the primary obligor on several consolidated obligation bonds and notes traded/committed on Sept 16–18, 2026. The Schedule A entries show a mix of fixed‑rate and variable (single‑index floater) consolidated obligations with maturities ranging from late 2026/early 2027 out to 2041. Consolidated obligations are joint and several obligations of the 11 Federal Home Loan Banks, are sold through the Office of Finance, are not U.S. government guaranteed, and are backed only by the Federal Home Loan Banks’ financial resources.

Key Details

• Total par amount reported as primary obligor: $1,119,000,000 (aggregate of Schedule A entries).
• Notable issues (par / coupon / maturity / trade or settlement dates):
  • $500,000,000 fixed coupon 4.565%, European callable (next call 09/22/2027); traded 09/18/2026.
  • $250,000,000 variable single‑index floater, maturity in early 2027; traded 09/17/2026.
  • Another $250,000,000 variable single‑index floater, maturity in early 2027; traded 09/17/2026.
  • $100,000,000 variable single‑index floater, maturity in early 2027; traded 09/18/2026.
  • Smaller fixed bonds: $5M (6.345%, mat. 9/24/2041), $4M (5.55%, mat. 9/25/2036), and two $5M issues at 4.75% (maturing 9/13/2030 and 9/12/2036).
• Schedule A excludes consolidated discount notes with maturities ≤1 year issued in the ordinary course; reported principal amounts are par values and may differ from GAAP amounts.

Why It Matters

• For investors, this filing documents FHLBank of Topeka’s role as primary obligor on over $1.1 billion of consolidated obligations across short and long maturities, which affects the bank’s funding profile and reported consolidated obligations outstanding.
• Consolidated obligations are backed only by the Federal Home Loan Banks (not the U.S. government) and are joint obligations of all 11 FHLBanks; the FHFA can require one bank to repay obligations for another, which is a regulatory risk factor to note.
• The mix of fixed and floating issues (including large short‑dated floaters) reflects active short‑ and long‑term funding activity; Schedule A is a trade‑date listing and may not show all short discount notes or how proceeds will be used.