The Federal Home Loan Bank of Des Moines (FHLB Des Moines) filed a Current Report on Form 8-K on September 21, 2026, disclosing the creation of direct financial obligations through the issuance of consolidated obligations. These obligations, which include bonds and discount notes, are sold to the public through the Office of Finance and are backed by the financial resources of the eleven Federal Home Loan Banks, rather than the U.S. government.
The filing includes Schedule A, detailing the consolidated obligation bonds and discount notes committed to be issued for which the Bank is the primary obligor. The schedule lists four specific bond issuances with a total principal amount of $2,532,500,000. The details of these issuances include:
- $15,000,000 in American Fixed Constant bonds with a 6.00% coupon, maturing on October 1, 2041, and an optional principal redemption date of April 1, 2027.
- $500,000,000 in European Fixed Constant bonds with a 4.56% coupon, maturing on September 22, 2027.
- $10,000,000 in Bermudan Fixed Constant bonds with a 5.09% coupon, maturing on September 28, 2029.
- $2,017,500,000 in Bermudan Variable Single Index Floater bonds, with a maturity date of September 22, 2028.
The FHLB Des Moines notes that the principal amounts reported on Schedule A represent the par value of the obligations, which may differ from the amounts recorded in its financial statements due to factors such as discounts or premiums. The Bank also clarifies that this schedule does not reflect the total consolidated obligations outstanding, as it excludes discount notes with a maturity of one year or less.
