Federal Home Loan Bank of Dallas 8-K

What Happened
The Federal Home Loan Bank of Dallas filed a Form 8-K (Item 2.03) on January 8, 2026, disclosing commitments to issue consolidated obligation bonds with trade dates of January 5–6, 2026. The schedule shows five committed bond issues totaling $320,000,000 with maturities ranging from 2027 to 2056 and fixed coupon rates between 3.64% and 5.50%.

Key Details

• Total par amount committed: $320,000,000 across five consolidated obligation bonds (trade dates 1/5/2026–1/6/2026).
• Largest issue: $200,000,000 maturing 2/5/2027, fixed coupon 3.64%, Bermudan call style.
• Longer-term issues include: $50M maturing 1/13/2056 at 5.22%; $25M maturing 1/13/2051 at 5.50%; $25M maturing 1/16/2046 at 5.50%; $20M maturing 1/8/2031 at 3.75%.
• Consolidated obligations are joint and several obligations of the 11 Federal Home Loan Banks, are backed only by the FHLBanks’ financial resources, and are not guaranteed by the U.S. government.
• Filing notes Schedule A excludes short-term consolidated obligation discount notes, does not assess materiality of these bonds, and does not show any associated derivative (hedging) arrangements.

Why It Matters
This 8-K informs investors about new long- and short-term debt commitments by the Bank that affect its funding profile and interest expense. The bonds are callable in various styles and have fixed coupons in the current mid-to-high single digits for longer maturities, which could influence the Bank’s future cost of funds and interest-rate risk. Because consolidated obligations are not government-guaranteed, investors should consider the credit support provided by the FHLBanks collectively and refer to the Bank’s periodic SEC filings for information on total consolidated obligations outstanding and financial condition.