Federal Home Loan Bank of Pittsburgh Creates Direct Financial Obligation

What Happened
The Federal Home Loan Bank of Pittsburgh filed a Form 8‑K on September 3, 2026 (Item 2.03) to report the creation of a direct financial obligation: it is the primary obligor on one or more consolidated obligations (debt securities) committed to be issued. The filing notes consolidated obligations (bonds and discount notes) are issued jointly by the eleven Federal Home Loan Banks through the Office of Finance, are not guaranteed by the U.S. government, and are subject to regulation by the Federal Housing Finance Agency (FHFA). The filing includes Exhibit 99.1 (Schedule A) listing the specific consolidated obligations committed to be issued for which the FHLBank is the primary obligor.

Key Details

• Filing date: September 3, 2026; signed by William A. List, Chief Financial Officer.
• The reported obligations are consolidated obligations (bonds and discount notes) sold through the Office of Finance and are joint and several obligations of the 11 Federal Home Loan Banks.
• Schedule A (Exhibit 99.1) lists consolidated obligation bonds and discount notes committed to be issued by the FHLBanks for which this FHLBank is the primary obligor; discount notes with maturity ≤ 1 year issued in the ordinary course are generally excluded.
• The FHFA can require any Federal Home Loan Bank to repay principal or interest for which another FHLBank is the primary obligor; consolidated obligations are backed only by the financial resources of the FHLBanks and not by the U.S. government.

Why It Matters
This filing informs investors that the FHLBank of Pittsburgh has taken on one or more consolidated obligations as primary obligor, which affects its funding and liability profile. Because these securities are joint obligations of all FHLBanks and not government‑guaranteed, investors should view them as liabilities supported by the FHLBanks’ collective resources. The Schedule A exhibit provides the specific instrument details; total consolidated obligations for which the Bank is primary obligor will be reported in its periodic SEC filings.