Federal Home Loan Bank of Indianapolis 8-K

What Happened
The Federal Home Loan Bank of Indianapolis filed an 8-K on December 30, 2025 (Item 2.03) announcing it has or will become the primary obligor, on the settlement date, for two consolidated obligation bonds issued by the Federal Home Loan Banks. The two fixed-rate, callable bonds were traded on December 23, 2025 and have combined par value of $38,400,000. Details include a $20,000,000 bond (settlement 12/30/2025, matures 12/30/2030, 4.130% coupon, Bermudan call, next call/amort date 9/30/2026, next pay date 6/30/2026) and an $18,400,000 bond (settlement 12/26/2025, matures 11/16/2029, 3.800% coupon, European call, next call/amort date 11/16/2026, next pay date 5/18/2026). The report was signed by Lana D. Buchman, Senior Financial Reporting Principal.

Key Details

• Two consolidated obligation bonds traded 12/23/2025 with par amounts: $20,000,000 (4.130% coupon, maturity 12/30/2030) and $18,400,000 (3.800% coupon, maturity 11/16/2029). Total par = $38,400,000.
• Call features: first bond is Bermudan callable (redeemable on specified recurring dates); second is European callable (redeemable on a particular date only).
• These are consolidated obligations — joint and several obligations of the Federal Home Loan Banks — and are not guaranteed by the U.S. government.
• Filing notes par amounts may differ from amounts reported under GAAP and excludes consolidated obligations with maturities of one year or less.

Why It Matters
For investors, this filing shows the Bank’s role as primary obligor on long‑term funding instruments that increase its consolidated obligations by $38.4M. The bonds are fixed‑rate and callable, which affects interest income and prepayment/reinvestment risk. Also note these securities are not federally guaranteed; their credit exposure is to the Federal Home Loan Banks system rather than the U.S. government.