On May 10, 2013, the FHLB Des Moines Board of Directors approved a first quarter 2013 dividend for both the average activity-based capital stock and average membership capital stock outstanding during the quarter. The dividend approved for activity-based stock was at an annualized rate of 3.50 percent. The dividend approved for membership capital stock was at an annualized rate of 0.50 percent.

The effective combined annualized dividend rate for the FHLB Des Moines on both subclasses of capital stock outstanding was 2.59 percent; however, the effective combined dividend rate on the total stock held by each member will depend on its level of activity with the Bank during the first quarter.

Please review the recent email sent to members which provides details on several initiatives that the Federal Home Loan Bank of Des Moines Collateral Department will be implementing in mid-June. These initiatives span a variety of collateral opportunities and will impact all members.

On April 29, 2013, FHLB Des Moines released preliminary unaudited financial highlights for the quarter ended March 31, 2013. The Bank expects to file its First Quarter 2013 Form 10-Q with the Securities and Exchange Commission on or about Friday, May 10, 2013. At that time, the Bank will also announce its first quarter 2013 dividend. Please refer to the Bank's earnings release for more information.
 

In April, FHLB Des Moines calculates each member’s FHLBank Membership Stock requirement based on call report information filed as of the prior year end. Please refer to the top of your Annual Calculation of Minimum Capital Stock Requirement statement in eAdvantage for the amount of Membership Stock your institution is required to purchase or the amount of excess Membership Stock the Bank will repurchase.