FHLB Des Moines Highlights
FHLB Des Moines’ Wire Department
Offers
Foreign Currency Option
On Friday, April 11, 2008, FHLB Des
Moines began offering the option of
processing wires in foreign
currency. Members can receive a
better exchange rate and quicker
delivery time. The Bank’s current
outgoing wire fee will be applied to
these transactions. For a list of
eligible countries and exchange
rates, contact the Wire Department
at 800.544.3452, ext. 5414.
For information about FHLB Des
Moines’ Member Financial Services,
click
here.
Weekly Market Update
Last
Wednesday, the Federal Reserve
reduced its benchmark federal funds
rate by 25 basis points to 2.0%, in
line with market expectations.
Although the Fed maintained a dovish
tone in the statement that
accompanied the announcement, the
language hinted at a possible pause
in rate cutting by removing its
explicit easing bias. Click
here for additional market
commentary.
Memorial Day Holiday
The
Bank will be closed on Monday, May
26, 2008, in observance of Memorial
Day. Due to the holiday, the bond
market will close at 1:00 PM CT on
Friday, May 23, 2008. Since the
market’s early closing impacts the
Bank’s product availability and
pricing, the only advances we
will offer after 1:00 PM CT on
Friday, May 23 will be Fed Funds
advances and Fed Funds repayments.
Fed Funds advance requests may be
made through eAdvantage or by
contacting the Money Desk as normal.
In addition, MPF Delivery
Commitments and Fundings will be
closed after 1:00 PM CT on Friday,
May 23, 2008.
Wire transfers will follow normal
business hours on Friday, May 23.
The Bank will resume normal business
hours on Tuesday, May 27, 2008.
Please contact the Money Desk at
800.544.3452 ext. 1013 with
questions.
Annual Reports Go Digital
You can view our 2007 Financial
Annual Report and 2007 Affordable
Housing Advisory Council Report as a
digital book by visiting our
Investor Relations page.
FHLB
Des Moines 2008 Spring Regional
Workshops
REGISTER TODAY!
Go
Green - FHLB Des Moines is green.
Discover the connection at our 2008
Spring Regional Workshops. Green is
your resource for liquidity,
education and value. We have
designed a one-day meeting for
directors, CEOs, CFOs and other bank
finance managers to gain insight
from an industry expert on managing
your liquidity in this turbulent
market. Gain a better understanding
of what is possible in terms of
liquidity and funding in today’s
competitive banking environment.
Green up your business as FHLB Des
Moines leaders educate you on the
latest Bank products and services.
You will benefit from the value of
green. To register for one of our
upcoming workshops, click
here.
FHLB Des Moines Will Continue MPF®
Program
FHLB
Des Moines will continue to offer
our members the Mortgage Partnership
Finance® program. FHLB Des Moines
will continue to provide service to
our current Participating Financial
Institutions and will continue to
renew and accept applications for
master commitments to purchase
mortgage loans from new
Participating Financial
Institutions.
Yesterday, the Federal Home Loan
Bank of Chicago announced to its
members that the Chicago Bank would
no longer enter into new master
commitment agreements or renew
master commitments to purchase
mortgage loans through the MPF
program. This action does not impact
the agreement the Chicago Bank has
with the other FHLBanks that offer
the MPF program. In its
announcement, the FHLBank of Chicago
acknowledged and stated that it will
continue to provide programmatic and
operational support for the FHLBanks
participating in the MPF program.
This will allow FHLB Des Moines to
continue to provide the benefit of
the MPF program to our members as
long as operational support is
available. FHLB Des Moines will
continue to monitor developments at
the FHLBank of Chicago.
If you have questions, please call
800.544.3452 for Steve Schuchmann
ext. 1007, Donna Iddins ext. 1043 or
Brad Meader ext. 1034.
Moody’s Investors Service
Credit Opinion
Moody's
Investors Service has published a
credit opinion document on Federal
Home Loan Bank of Des Moines. Our
credit rating outlook remains stable
and our bank deposits rating remains
at Aaa/P-1. For more information
about our ratings, read the
opinion.
Standard & Poor's: Federal Home Loan
Bank of Des Moines Outlook Revised
To Stable From Negative; Ratings
Affirmed
On April 9, 2008, Standard & Poor's
Ratings Services revised its outlook
on the Federal Home Loan Bank of Des
Moines (FHLB Des Moines) to stable
from negative.
Read Standard & Poor's full report.
Notes:
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about this site, please email them
to the Home Loan Bank's
webmaster or
call the Communications Department
at 800.544.3452.
Copyright © 1998 - 2008 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.
