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Third Quarter 2019 Dividend and Election Results Public Announcements Third Quarter 2019 Dividend and Election Results The FHLB Des Moines (the Bank) Board of Directors (the Board) has approved a third quarter 2019 dividend. Additionally, the Board reviewed the results of the 2019 Member and Independent Director Elections and are pleased to announce the winners. Member Announcements Underwriting Assessment Matrix Changes As part of collateral verification, the Bank reviews the underwriting for pledged loans. Preferably, all loans are fully documented to market expectations. Via the Underwriting Assessment Matrix, we are able to provide lendable value to less than fully documented loans at an appropriate discount. 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. 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. 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. Updated Collateral Loan-to-Values Member Announcements Updated Collateral Loan-to-Values On June 24, 2019, FHLB Des Moines will implement revised LTVs for most collateral categories. The Federal Home Loan Bank of Des Moines periodically reviews our collateral Loan-to-Values (LTVs) to ensure they are consistent with the current market environment. Federal Home Loan Bank of Des Moines Announces New Top Executives Public Announcements Federal Home Loan Bank of Des Moines Announces New Top Executives Federal Home Loan Bank of Des Moines (FHLB Des Moines or the Bank) announced the promotion of Joelyn Jensen-Marren and Bill Bemis. Advance Product Changes – Effective June 3, 2019 Member Announcements Advance Product Changes – Effective June 3, 2019 As part of its LIBOR transition plan, the Federal Home Loan Bank of Des Moines is implementing changes to the advance products listed below, effective June 3, 2019. Federal Home Loan Bank of Des Moines Announces Government Relations Director Public Announcements Federal Home Loan Bank of Des Moines Announces Government Relations Director Federal Home Loan Bank of Des Moines announces Joe Cwiklinski as the incoming vice president/government relations director. FHLBDM will not accept delivery of loans with an Appraisal Waiver for the MPF Traditional product Member Announcements FHLBDM will not accept delivery of loans with an Appraisal Waiver for the MPF Traditional product FHLB Des Moines will not accept delivery of loans with an Appraisal Waiver. These loans are ineligible for sale into the MPF Traditional product. It's Here! Our New APF Process Has Launched Member Announcements It's Here! Our New APF Process Has Launched We are excited to announce that our new Authorized Personnel Form (APF) process has officially launched.