Federal Home Loan Bank of Dallas 8-K

What Happened
The Federal Home Loan Bank of Dallas filed an 8‑K (Item 2.03) reporting the creation of direct financial obligations through commitments to issue consolidated obligation bonds. The schedule shows three committed bond issues totaling $45,000,000 with trade dates in late December 2025 and early January 2026, settlement dates in January 2026, and maturities in 2036 and 2056. The bonds carry fixed coupon rates of 5.000% and 5.220% and include callable features (American and Bermudan styles).

Key Details

• Total par amount committed: $45,000,000 (three bonds: $15M, $10M, $20M).
• Coupons and maturities: two bonds at 5.000% maturing Jan 14, 2036; one bond at 5.220% maturing Jan 13, 2056.
• Settlement dates: mid‑January 2026 (Jan 13–14, 2026). Next call dates shown in the schedule include July 2026 and July 2029 depending on bond.
• These are consolidated obligations — joint and several obligations of the 11 Federal Home Loan Banks, backed by FHLBanks’ financial resources and not guaranteed by the U.S. government.

Why It Matters
For investors, this filing shows the Bank has committed to new long‑term debt issuance (consolidated obligation bonds) that will increase the amount of consolidated obligations for which it is the primary obligor. Because consolidated obligations are issued jointly by the FHLBanks and are not U.S. government‑guaranteed, investors should note the difference between par amounts shown here and how debt may be reported in the Bank’s GAAP financials (discounts, premiums, hedging adjustments). The Bank also cautions the schedule excludes short‑term discount notes and related derivative arrangements; total consolidated obligations outstanding are disclosed in the Bank’s periodic SEC reports.