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Legislative Update - 10/10/2019 Public Announcements Legislative Update - 10/10/2019 This edition will provide our latest analysis and updates from Washington, D.C. on a variety of issues impacting Federal Home Loan Bank of Des Moines. Also provided is a complete overview of all of our Government Relations events over the past year. FHLBank System Regulator Provides LIBOR Transition Guidance Member Announcements FHLBank System Regulator Provides LIBOR Transition Guidance The financial markets are preparing for the expected phase-out of the London Interbank Offered Rate (LIBOR) by the end of 2021. 2019 Director Election Voting Underway Public Announcements 2019 Director Election Voting Underway Voting is underway for the FHLB Des Moines 2019 Director Election. Polls close November 1, 2019 at 5 PM CDT. Applicant Tracking System Changes Public Announcements Applicant Tracking System Changes On Sept. 9, 2019, our applicant tracking system changed. If you've recently applied for a position, here's what you need to know and do. FHLBanks Surpass $100 Billion in SOFR-linked Issuance Member Announcements FHLBanks Surpass $100 Billion in SOFR-linked Issuance The Office of Finance announced that the Federal Home Loan Bank System has issued over $100 billion in SOFR-linked securities since its first issuance in November of last year. Joe Kesler Declared Re-elected to FHLB Des Moines Board of Directors Member Announcements Joe Kesler Declared Re-elected to FHLB Des Moines Board of Directors The Federal Home Loan Bank of Des Moines (the Bank) is pleased to announce that Joe Kesler was recently re-elected as a director to the Bank's board. Mr. Kesler will serve as the Montana member director on the Bank's board for a four-year term commencing January 1, 2020. Q2 2019 Combined Financial Report Public Announcements Q2 2019 Combined Financial Report The Second Quarter 2019 Combined Financial Report (CFR) for the FHLBanks has been published and filed with the Federal Housing Finance Agency. FHLB Des Moines Approves Second Quarter 2019 Dividend Member Announcements FHLB Des Moines Approves Second Quarter 2019 Dividend The FHLB Des Moines (the Bank) Board of Directors approved a second quarter 2019 dividend at an annualized rate of 5.75 percent on activity-based stock and 3.25 percent on membership stock, unchanged from the prior quarter. FHLB Des Moines urges Congress to hold hearings on CECL Public Announcements FHLB Des Moines urges Congress to hold hearings on CECL Industry experts agree: The Current Expected Credit Loss (CECL) accounting standard proposed by the Financial Accounting Standards Board will be highly problematic for financial institutions. FHLB Des Moines agrees and recently encouraged Congress to hold hearings on CECL. Second Quarter 2019 Earnings Release Member Announcements Second Quarter 2019 Earnings Release On July 29, 2019, FHLB Des Moines released preliminary unaudited financial highlights for the quarter ended June 30, 2019. Federal Home Loan Bank of Des Moines Awards $45,000 to Community Partnership Projects Public Announcements Federal Home Loan Bank of Des Moines Awards $45,000 to Community Partnership Projects The Federal Home Loan Bank of Des Moines (FHLB Des Moines) announced seven community projects will receive a total of $45,000 as Strong Communities Award winners and finalists in 2019. Idaho Banker, Jason Meyerhoeffer, elected to FHLB Des Moines Board Public Announcements Idaho Banker, Jason Meyerhoeffer, elected to FHLB Des Moines Board The Federal Home Loan Bank of Des Moines (the “Bank”) is pleased to announce that Jason Meyerhoeffer was recently elected by the Bank's board as the Idaho member director.