The Federal Home Loan Bank of Des Moines (FHLB Des Moines) filed a Current Report on Form 8-K on October 6, 2026, disclosing its consolidated obligations for the period ending September 30, 2026. The filing includes Schedule A, which details the debt securities committed to be issued by the Bank.
The Schedule A lists a total of approximately $2.02 billion in consolidated obligations. The debt is composed of two primary types: bonds and discount notes. The obligations are backed by the financial resources of the eleven Federal Home Loan Banks and are not guaranteed by the U.S. government.
The filing details specific securities with various maturity dates and interest structures. Notable entries include:
- $1.175 billion in Variable Single Index Floaters maturing on June 3, 2027.
- $1 billion in Variable Single Index Floaters maturing on March 8, 2027.
- $1 billion in Variable Single Index Floaters maturing on March 8, 2027.
- $412.5 million in American Fixed Constant bonds maturing on October 9, 2036, with a coupon rate of 6.45 percent.
- $25 million in Fixed Constant bonds maturing on September 14, 2029, with a coupon rate of 4.75 percent.
The filing notes that the consolidated obligations issuance is material to the Bank. It clarifies that the principal amounts reported on Schedule A represent the par amount at issuance and may not correspond to amounts in the Bank's financial statements due to discounts, premiums, or concessions. The Bank also indicates that the Schedule A excludes discount notes with a maturity of one year or less issued in the ordinary course of business.
