Federal Home Loan Bank of Dallas 8-K

What Happened

• The Federal Home Loan Bank of Dallas (the Bank) filed an 8‑K (Item 2.03) reporting that it committed to issue consolidated obligation bonds on trade dates January 7–9, 2026, with settlement dates in January 2026. The Schedule A in the filing shows par amounts totaling $2,622,000,000 across multiple maturities (short-term through 2036) and coupon rates (examples include 3.615%–3.80% and 5.00%).

Key Details

• Total par amount committed: $2,622,000,000 (trade dates Jan 7–9, 2026; settlement Jan 8–14, 2026).
• Two largest tranches: $1,000,000,000 each maturing Feb 8, 2027 with initial coupons ~3.62% and ~3.615%.
• Longest maturity shown: bonds maturing Jan 14, 2036 with initial coupon 5.00 (three entries totaling $65,000,000).
• Filing notes: consolidated obligations are joint obligations of the 11 Federal Home Loan Banks and are backed only by FHLBanks’ financial resources (not U.S. government‑guaranteed); the schedule excludes discount notes (≤1 year), derivative information, and does not indicate whether proceeds will refinance maturing debt.

Why It Matters

• This filing shows the Bank raising debt through the FHLBanks’ consolidated obligation program to meet funding needs. The mix of large short‑term tranches (2027) and longer‑dated bonds (up to 2036) provides insight into the Bank’s funding timeline and interest cost exposure. Retail investors should note these are debt issuances (not equity), are not government‑guaranteed, and that the Schedule A par amounts may differ from GAAP reporting because discounts, premiums or hedging adjustments aren’t shown.