News by "Business News"

Business News Public Announcements Wan-Chung Kung Elected to FHLB Des Moines Board The Bank is pleased to announce that the Bank's Board of Directors has elected Wan-Chong Kung to fill the remainder of the four-year independent director term that became vacant on November 19, 2021. Ms. Kung's election became effective on January 19, 2022. Business News Member Announcements 2022 Affordable Housing Program Information Now Available Full details for the Federal Home Loan Bank of Des Moines Down Payment Products and the Competitive Affordable Housing Program are now available in the 2022 Implementation Plan. Business News Member Announcements 2021 Holiday Hours The holiday season is upon us and with that comes amended hours. Business News Member Announcements New SOFR Advance Features Effective November 8, 2021 Beginning on Monday, November 8, 2021 the Federal Home Loan Bank of Des Moines will offer new features on Secured Overnight Financing Rate (SOFR) advances. Business News Member Announcements Commercial Real Estate and Multi-Family Eligibility Changes As a result of current conditions in the commercial markets, FHLB Des Moines is adjusting select loan eligibility criteria effective June 30, 2021 Business News Member Announcements Member Products Policy Updated July 1, 2021 An updated Member Products Policy was published on July 1, 2021. Business News Member Announcements Eligibility Changes for LIBOR-Indexed Securities Collateral Effective June 30, 2021, new non-U.S. Government or Agency LIBOR-indexed securities pledged as collateral will be required to include acceptable fallback language if the maturity is beyond the LIBOR cessation date of June 30, 2023. Business News Member Announcements Timeline for Future LIBOR-Indexed Collateral Changes With the LIBOR cessation date set for June 30, 2023, FHLB Des Moines has announced a timeline of future changes regarding LIBOR-indexed collateral. Business News Public Announcements Independence Day Hours In observance of Independence Day, modifications to our usual hours will occur. Business News Public Announcements FHLB Des Moines and Together Credit Union Complete First eNote Transaction The Missouri-based member completed their digital transaction in February. “We are thrilled to have achieved this significant milestone, both as an institution and as a member of FHLB Des Moines,” said Larry Jackson, vice president of real estate lending at Together Credit Union. Business News Member Announcements New Collateral Type: Interest-Only MF/CRE Loans FHLB Des Moines will soon be accepting interest-only loan collateral for Multi-Family and Commercial Real Estate loans (whole loans only, no participations). Business News Member Announcements Memorial Day Hours In observance of Memorial Day, modifications to our usual service hours will occur.