COVID-19 Updates and Resources

At Federal Home Loan Bank of Des Moines, we are closely monitoring developments around coronavirus (COVID-19). This page will be used to provide updates and resources to our members during this time of need.

We pride ourselves on being a readily available and reliable source of liquidity in all economic environments. Please know that we remain dedicated to meeting the needs of members through these challenging and unusual times. Our COVID-19 preparedness measures are part of our Business Continuity Plan and have been successfully tested in advance to ensure we can continue serving members should the situation progress.

Action steps we are taking to work with our members as they adjust to the changing needs of their borrowers:

Eligibility of Pledged Loan Collateral

We are adjusting our eligibility guidelines on pledged collateral to align with our member financial institutions who are implementing loan modifications such as deferments and forbearances for their borrowers. 

Loan forbearance or modifications

Loan forbearance or modifications executed with electronic signatures (see below for requirements) will be accepted as long as an original wet ink signed promissory note from origination is still in full force, in effect, and in possession of the member.

Most importantly, the forbearance or modification must be evidenced by a written agreement (Agreement) with the borrower with evidence of the borrower’s acceptance and reference to the related note. The Agreement should be available if/when the loan is selected for FHLB Des Moines regular Member Collateral Verification (MCV) process.

Additional requirements for such Agreements depend, in part, on how the member’s borrower provides its signature.

Collateral Guidelines

If your institution needs to utilize these available adjustments to your eligible loan collateral, please contact our Collateral team: advancecollateral@fhlbdm.com or 800.544.3452, ext. 2500. We look forward to the day when business can resume as normal for our members. 

Update on Collateral Eligibility Regarding Paycheck Protection Program (PPP)

READ UPDATE

Meeting the Funding Needs of Our Members 

While volatility continues to test the resiliency of financial markets and institutions across the country, the need for liquidity is becoming increasingly important. FHLB Des Moines is here to help your institution navigate through the uncertainty.

With the recent interest rate cuts by the Federal Reserve Open Market Committee, short-term FHLB Des Moines advances are at their lowest level in years. Take advantage of our strategies tools and resources when considering your funding options.

We remain fully operational through this crisis. Due to the current rate environment along with the changing economic conditions, our Member Financial Operations teams are currently experiencing high call volume. We can assure you that our team is working as quickly as possible to respond to members and we appreciate your patience during this time.

eAdvantage Reminder

Don't forget, you can process most advance transactions (under $15 million) online through eAdvantage


Please refer to the list of contacts below if you have questions.

FHLB Des Moines News Articles:

Resources:

Centers for Disease Control and Prevention
World Health Organization