Federal Home Loan Bank of Chicago Issues Consolidated Obligations ($95M)

What Happened

• The Federal Home Loan Bank of Chicago filed a Form 8‑K (Item 2.03) on September 17, 2026 reporting that it committed to issue consolidated obligation bonds with trade dates of September 14–15, 2026. The Schedule A in the filing lists consolidated obligation bonds with a par total of $95,000,000, maturities ranging from 2029 to 2033, coupon rates of 5.00%–5.50%, and various callable features (Bermudan, European, American). The report was signed by Michael Palumbo, Vice President.

Key Details

• Total par amount committed (Schedule A): $95,000,000.
• Trade dates: September 14–15, 2026; settlement dates between Sept 21–29, 2026.
• Maturities: between Sept 2029 and Sept 2033; coupon rates listed at 5.00%–5.50%.
• Instruments: Consolidated obligations (bonds) that are joint and several obligations of the 11 Federal Home Loan Banks; Schedule A excludes discount notes with maturities ≤1 year and does not reflect related derivatives.

Why It Matters

• This filing reports new wholesale funding activity: the Bank has committed to issue medium‑ to long‑term debt that affects its borrowing profile and future interest obligations.
• Consolidated obligations are not U.S. government guaranteed; they are backed by the financial resources of the eleven Federal Home Loan Banks and can, under FHFA rules, be required to be repaid by any Bank for which another is primary obligor.
• The 8‑K provides par amounts at issuance (not GAAP carrying values) and does not assess materiality of individual issues; investors should refer to the Bank’s periodic reports for total consolidated obligations outstanding and for any related hedging or derivative arrangements.