Federal Home Loan Bank of Cincinnati Creates Direct Debt Obligation

What Happened

• On September 24, 2026, the Federal Home Loan Bank of Cincinnati (FHLB Cincinnati) filed an 8‑K (Item 2.03) disclosing the creation of a direct financial obligation related to Consolidated Obligations issued in the capital markets. The FHLBs raise most of their funding by selling Consolidated Obligations, which include Consolidated Bonds and Consolidated Discount Notes, through the Office of Finance.

Key Details

• Filing date: September 24, 2026 (Form 8‑K, Item 2.03).
• Consolidated Obligations are joint and several obligations of the 11 Federal Home Loan Banks and are sold via authorized dealers through the Office of Finance.
• These securities are backed only by the financial resources of the 11 Federal Home Loan Banks and are not guaranteed by the U.S. government.
• Schedule A to the filing lists Consolidated Bonds the FHLBs committed to issue for which FHLB Cincinnati is the primary obligor, including any bonds with remaining maturity >1 year that it assumed from another FHLB since its last Current Report.

Why It Matters

• This notice informs investors that FHLB Cincinnati has assumed direct repayment obligations on one or more Consolidated Bonds. Because Consolidated Obligations are joint obligations of all 11 Federal Home Loan Banks and are not U.S. government guaranteed, investors should understand that repayment depends on the financial resources of the Federal Home Loan Bank System rather than a federal guarantee.