Federal Home Loan Bank of Chicago 8-K

What Happened

• The Federal Home Loan Bank of Chicago filed an 8‑K on April 2, 2026 (signed by Michael Palumbo) reporting the creation/commitment of consolidated obligations (debt securities) for which it is the primary obligor. These consolidated obligations are joint obligations of the eleven Federal Home Loan Banks and are sold through the Office of Finance; they are not guaranteed by the U.S. government and are regulated by the FHFA.

Key Details

• Trade dates: March 30–31, 2026; filing date April 2, 2026.
• Reported par amounts and basic terms (Schedule A):
  • $500,000,000 — settlement 4/1/2026, maturity 7/6/2026, non‑callable, variable single index floater.
  • $750,000,000 — settlement 4/2/2026, maturity 7/2/2026, non‑callable, variable single index floater.
  • $250,000,000 — settlement 4/2/2026, maturity 8/3/2026, non‑callable, variable single index floater.
  • $10,000,000 — settlement 4/6/2026, maturity 4/6/2029, Bermudan callable (optional principal redemption), fixed coupon 4.231%, next call date 10/6/2026.
• Filing notes: Schedule A excludes discount notes maturing in one year or less issued in the ordinary course, may omit related derivatives (e.g., interest-rate swaps), and reports par amounts (which may differ from GAAP amounts).

Why It Matters

• This filing shows the Bank’s recent market funding activity and short‑term to medium‑term debt profile (predominantly short‑dated floaters plus a small callable fixed bond). Retail investors should note the Bank is the primary obligor on these securities and that consolidated obligations are backed only by the Federal Home Loan Banks’ resources, not by a U.S. government guarantee. The information helps investors track the Bank’s funding sources and potential repayment obligations but does not present the Bank’s total consolidated obligations outstanding (which are reported in periodic filings).