FHLB Des Moines Highlights
Weekly Market Update
Volatility continued in the
Treasury market last week as the
yield on the 10-year Treasury
fluctuated by 15 basis points.
Click
here for additional market
commentary and the weekly
advance rate summary.
Labor Day Holiday
On
Monday, September 6, 2010, FHLB
Des Moines will be closed in
observance of the Labor Day
holiday. The MPF Service Center
will also be closed on Monday
and will not be accepting
Delivery Commitments or
Fundings.
The Bank will resume normal
business hours on Tuesday,
September 7.
eAdvantage
Certificate Renewal
Process
FHLB Des Moines
will undergo an eAdvantage
renewal process that will
require all eAdvantage digital
certificate holders to renew
their online certificate after
September 13, 2010. The process
will take less than five minutes
and any eAdvantage certificate
holder at your financial
institution must renew their
certificate or they will not be
able to conduct business online.
Click
here for more information.
August Member Relations
Conference Call
Update
FHLB
Des Moines hosted a members-only
conference call on Wednesday,
August 18, 2010. The Bank’s
Executive Team discussed the
Bank's Second Quarter 2010
financial highlights, business
news and held a question and
answer session. To listen to an
audio recording of this call or
for additional details, click
here.
August
Newsletter Focuses on
Housing Efforts throughout our
District
FHLB Des Moines
mailed a copy of
Strengthening Communities,
our fifth Community Investment
newsletter, to members this
week. This publication focuses
on the Bank’s commitment to
meeting the housing and economic
development needs of the
communities and members we serve
throughout our five-state
district. For more information
about these programs or any of
the stories in this issue, call
800.544.3452, ext. 1173 or click
on the “Community Investment” in
the menu bar above. To read a
copy of our August 2010 issue,
click
here.
Servicing-released Option for
MPF Xtra® Available
FHLB
Des Moines is pleased to
announce that a
servicing-released option is now
available for the MPF Xtra
product through Iowa Bankers
Mortgage Corporation (IBMC).
IBMC will offer this option to
all FHLB Des Moines
Participating Financial
Institutions (PFIs) throughout
our five state district. FHLB
Des Moines is currently the only
FHLBank to offer this
alternative to its PFIs for MPF
Xtra. For more information,
click
here.
OF Announces Publication of
Second Quarter
2010 Combined
Financial Report
The Federal Home
Loan Bank's Office of Finance
announces the publication of the
Second Quarter 2010 Combined
Financial Report (CFR) on
Friday, August 13. Check the OF
website at
www.fhlb-of for the complete
CFR file.
To request a
paper copy of this report,
please contact Rex Swandahl at
rswandahl@fhlbdm.com.
FHLB Des Moines Approves
Second Quarter Dividend
FHLB Des Moines Board of
Directors has approved a second
quarter 2010 dividend at an
annualized rate of 2.00 percent
of average capital stock. The
dividend is expected to be paid
on August 13, 2010. This
dividend will total $11.6
million, which represents 88
percent of net income during the
second quarter. Average
three-month LIBOR and average
Federal funds rate for the
second quarter 2010 were 0.43
percent and 0.19 percent
respectively. For additional
details, please read the
following
press release.
FHLB Des Moines is Accepting
Affordable Housing Advisory
Council Nominations
FHLB Des Moines is now accepting
nominations for its Affordable
Housing Advisory Council. The
Advisory Council is a 15-member
group made up of a diverse range
of community and nonprofit
organizations actively involved
in providing or promoting low
and moderate-income housing and
community lending in the Bank’s
district. To encourage
diversified representation, FHLB
Des Moines solicits nominations
annually. By law, nominees must
be a resident of Iowa,
Minnesota, Missouri, North
Dakota or South Dakota.
Employees and directors of FHLB
Des Moines member financial
institutions are not eligible
for appointment to the Advisory
Council.
This
year, FHLB Des Moines will
appoint five members to serve
three-year terms beginning
January 2011 and ending December
2013. In addition, one member
has moved out of the district
with a term expiring in 2012.
There are five Advisory Council
positions open and FHLB Des
Moines is seeking two nominees
from Iowa, two from Minnesota
and one from Missouri. For
additional details about our
2011 nomination process, visit
our
Affordable Housing Advisory
Council
page.
2010
Board
of Director Elections
Commencement of
the annual Director Election for
member and independent directorships
to the Federal Home Loan Bank of Des
Moines Board of Directors is
underway for 2010. Member director
elections will take place in the
states of Minnesota, Missouri and
North Dakota, and members in those
states will each fill one member
director seat in its respective
state. Three independent director
seats will be filled in 2010 through
a district wide process. One of the
three independent directorships to
be filled is designated as a public
interest independent director.
The nomination and election process
for both member and independent
directorships will be conducted
electronically through Survey &
Ballot Systems (SBS), an outside
vendor experienced in administering
online elections in a secure
environment. On July 7th, SBS
emailed the Bank’s official
announcement of election to eligible
voting members in all states, with
on-line member director nomination
certificates to members in the
states of Minnesota, Missouri and
North Dakota; and information
regarding independent director
application forms to eligible voting
members in all states in the Bank’s
district.
To view a schedule of key events in
the 2010 Director Election Timeline,
please click
here.
To read general information about
the Bank and its Board of Directors,
click
here.
If you did not receive a
communication from SBS announcing
the 2010 Election, or have questions
regarding the electronic or election
process for member and independent
directorships, please contact the
Bank’s General Counsel Aaron Lee at
800.544.3452, ext. 1038, or by email
at
alee@fhlbdm.com.
Notes:
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If you have
questions or comments about this
site, please email them to the FHLB
Des Moines
webmaster or
call the Communications Department
at 800.544.3452.
Copyright © 1998 - 2010 Federal Home
Loan Bank of Des Moines. All rights
reserved. This material is provided
as general information. The terms
and conditions related to the FHLB
Des Moines' products and services
are governed by various agreements
between the FHLB Des Moines and its
customers as well as certain FHLB
Des Moines policies and applicable
regulations. In the event of any
inconsistencies between this website
material and the agreements,
policies and regulations, the terms
of such agreements, policies and
regulations shall be determinative.
Only member institutions and certain
eligible financial institutions may
transact business with the Home Loan
Bank.
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