The Federal Home Loan Bank of Pittsburgh (FHLBank) filed a Current Report on Form 8-K dated September 9, 2026, disclosing the creation of several direct financial obligations. The filing details a public debt issuance totaling $1 billion, consisting of bonds and discount notes.
The debt is classified as consolidated obligations, which are joint and several obligations of the eleven Federal Home Loan Banks. These obligations are sold to the public through the Office of Finance using authorized securities dealers and are backed by the collective financial resources of the FHLB system, rather than by the United States government.
The specific terms of the issuance are detailed in Exhibit 99.1. The debt includes a mix of fixed-rate and variable-rate instruments with various maturities ranging from one year to 20 years. Key fixed-rate offerings include a 6.075% bond maturing in 2046 and a 5.07% bond maturing in 2031. The issuance also features variable-rate bonds, including a single-index floater maturing in 2027.
The filing notes that the consolidated obligations issuance is material to the FHLBank. It clarifies that the Schedule A attached to the report lists the bonds and discount notes committed to be issued for which the FHLBank is the primary obligor, excluding discount notes with a maturity of one year or less issued in the ordinary course of business.
