Federal Home Loan Bank of Chicago 8-K

What Happened

• On January 6, 2026 the Federal Home Loan Bank of Chicago filed a Form 8-K (Item 2.03) reporting the creation of direct financial obligations: commitments to issue consolidated obligation bonds for which the Bank is the primary obligor. The trade date for these commitments was January 2, 2026 and settlement dates are in January 2026. The reported par amounts total $45,000,000 across four bond entries, with maturities in 2036 and 2046 and coupons ranging from 4.25% to 5.00%. Consolidated obligations are issued through the Office of Finance, are the joint and several obligations of the eleven Federal Home Loan Banks, and are not guaranteed by the U.S. government.

Key Details

• Total par amount reported on Schedule A: $45,000,000 (four bond entries dated trade date Jan 2, 2026).
• Coupon rates and principal by issue: 5.00% ($10M) maturing 1/8/2046; 5.00% ($10M) maturing 1/8/2046 (second entry); 4.25% ($15M) maturing 1/14/2036; 4.40% ($10M) maturing 1/9/2036.
• Settlement dates: Jan 8, Jan 9 and Jan 14, 2026. Next call dates (Bermudan callable): 1/8/2029, 1/9/2029, and 1/14/2031 (as applicable).
• Filing notes: Schedule A excludes consolidated obligation discount notes with maturities of one year or less and does not show associated derivatives or how proceeds will be used; FHFA may require other FHLBanks to repay obligations for which this Bank is the primary obligor.

Why It Matters

• This filing documents new or committed long-term debt for which the Bank is the primary obligor. For investors, it affects the Bank’s role in the joint consolidated-obligation funding program and adds to the pool of long‑term debt for which the eleven FHLBanks are collectively responsible. Because consolidated obligations are not U.S. government guaranteed, these instruments are supported only by the financial resources of the Federal Home Loan Banks and relevant FHFA oversight. The Bank will report total consolidated obligations outstanding in its regular SEC filings.