Federal Home Loan Bank of Chicago 8-K

What Happened

• The Federal Home Loan Bank of Chicago filed a Form 8‑K on December 29, 2025 (signed by Samuel Reindl, Vice President) reporting the creation of direct financial obligations: it committed to several consolidated obligation bonds and notes as the primary obligor on trade dates December 22–23, 2025. The reported issues have a combined par amount of $1.146 billion, including two $500 million bonds. Coupon rates on the reported issues range roughly from 3.41% to 5.00%, and maturities span from 2026 through 2035.

Key Details

• Total par amount reported on Schedule A: $1,146,000,000 across seven reported consolidated obligations.
• Trade dates: December 22–23, 2025; settlement and maturity dates vary by issue (maturities shown roughly 2026–2035).
• Coupon range and examples: 3.41% to 5.00%; includes both non‑callable and callable (American/Bermudan optional principal redemption) features. Two individual issues reported at $500,000,000 each.
• Regulatory/guarantee note: Consolidated obligations are joint and several obligations of the 11 Federal Home Loan Banks, are not guaranteed by the U.S. government, and are subject to FHFA regulation (FHFA can require one Bank to repay obligations for which another Bank is the primary obligor). Schedule A excludes short-term discount notes (≤1 year).

Why It Matters

• These transactions show how the Bank raises funding in the capital markets; the new consolidated obligations add to the Bank’s debt and will influence its future interest expense and funding profile.
• Investors should note consolidated obligations are backed only by the Federal Home Loan Banks (not the U.S. government) and are subject to FHFA oversight. The 8‑K’s Schedule A is a snapshot of specific issuances and does not replace the Bank’s periodic reports for a full view of total consolidated obligations outstanding.