Federal Home Loan Bank of Cincinnati 8-K

What Happened The Federal Home Loan Bank of Cincinnati (FHLB) filed an 8-K on December 23, 2025 (Item 2.03) reporting the creation of a direct financial obligation through its participation in Consolidated Obligations. Consolidated Obligations—made up of Consolidated Bonds and Consolidated Discount Notes—are issued in the capital markets by the 11 Federal Home Loan Banks through the Office of Finance and sold via authorized securities dealers. Under Federal Housing Finance Agency (FHFA) regulation, these securities are joint and several obligations of all 11 Federal Home Loan Banks and are backed only by the Banks’ financial resources (not guaranteed by the U.S. government).

Key Details

• The filing documents that the FHLB obtains most funds by selling Consolidated Obligations (Consolidated Bonds and Consolidated Discount Notes).
• Consolidated Obligations are issued through the Office of Finance and sold to the public via authorized dealers.
• These obligations are joint and several among the 11 Federal Home Loan Banks and are not U.S. government guaranteed.
• Schedule A of the filing lists Consolidated Bonds the FHLB has committed to issue (including any bonds with >1 year remaining maturity for which the FHLB assumed primary repayment obligation since the last Current Report).

Why It Matters For investors, this filing confirms the FHLB has taken on direct debt commitments via the Federal Home Loan Bank system’s Consolidated Obligations program. The notes and bonds are legal obligations of the Federal Home Loan Banks collectively, and repayment depends on the Banks’ financial resources rather than a federal government guarantee. Schedule A (attached to the filing) identifies the specific bonds and any assumed repayment responsibilities, which are the concrete details investors may review to assess the size and timing of the bank’s new obligations.