Federal Home Loan Bank of Chicago 8-K

What Happened
The Federal Home Loan Bank of Chicago filed a Form 8‑K (dated Feb 19, 2026) under Item 2.03 to report the creation of direct financial obligations. On trade date Feb 17, 2026 the Bank committed consolidated obligations for which it is the primary obligor with a total par amount of approximately $3.245 billion. The issuances include several variable single‑index floating-rate notes and a group of fixed‑rate callable bonds with maturities ranging from 2026 to 2034. The report was signed by Michael Palumbo, Vice President.

Key Details

• Trade date: February 17, 2026; Form 8‑K filed February 19, 2026.
• Total reported par amount: $3,245,000,000 (Schedule A).
• Composition: roughly $3.025 billion in variable single‑index floaters and $220 million in fixed, optionally redeemable bonds (examples: $70M at 3.75% maturing 3/5/2029; $100M at 4.55% maturing 9/5/2034).
• Notes: consolidated obligations are joint and several obligations of the 11 Federal Home Loan Banks, are sold via the Office of Finance, and are not guaranteed by the U.S. government. The FHFA may require any FHLB to repay obligations for which another is primary obligor.

Why It Matters
This filing notifies investors that the Bank has raised (or committed to raise) multi‑billion dollar funding through the consolidated obligations program. These issuances affect the Bank’s funding mix and maturity profile and are relevant to holders of FHLB debt and member institutions who monitor FHLB liquidity and borrowing costs. Remember: consolidated obligations are backed only by the Federal Home Loan Banks’ resources (not the U.S. government), and Schedule A may not show short-term discount notes (≤1 year) or how proceeds will be used; total outstanding consolidated obligations for which the Bank is primary obligor will appear in the Bank’s periodic SEC reports.