News by "Business News"

Business News Member Announcements 2023 Holiday Hours The holiday season is upon us and with that comes adjusted hours. Please take a moment and review our upcoming holiday schedule and download our special holiday hours guide. Business News Member Announcements Supporting our Members Impacted by Maui Wildfires The Federal Home Loan Bank of Des Moines is taking steps to help our members as they adapt to serve their borrowers impacted by the Maui wildfires. Business News Member Announcements Changes to Service Fees Updated fee schedules for Wire Transfers, Securities and Safekeeping and Collateral are effective August 1, 2023. Members will also see more simplified billing reports beginning in September. Business News Public Announcements Federal Home Loan Banks' Inaugural Corporate Social Responsibility Report The Federal Home Loan Banks' inaugural Corporate Social Responsibility Report focuses on the positive social impact we have achieved through our programs and initiatives, all of which flows from our ability to execute on our foundational liquidity mission Business News Member Announcements Advance Product Portfolio Changes Federal Home Loan Bank of Des Moines will launch TWO new advance products on October 10, 2023 to replace the current Overnight/Fed Funds Credit Line Advance. These new advance products will continue to provide members with the same access to fast and reliable overnight funding, but with more option Business News Public Announcements Independence Day Hours In observance of Independence Day, modifications to our usual hours will occur. Business News Member Announcements FHLB Des Moines Board of Director Elections Underway Commencement for the 2023 Federal Home Loan Bank of Des Moines Director Election is underway. Members in the states of IA, MN and MT will each elect one individual to fill the one member director seat in its respective state. Four independent director seats, including one PID seat will be filled. Business News Member Announcements Updated Collateral Loan-to-Values Effective September 5, 2023 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. On Tuesday, September 5, 2023, FHLB Des Moines will implement revised LTVs for most collateral categories. Business News Member Announcements Memorial Day Hours In observance of Memorial Day, modifications to our usual service hours will occur. Business News Member Announcements Collateral Eligibility Updates Effective June 30, 2023 Updates to Electronic Signature Modification Guidelines and an addition to the General Eligibility Checklist take effect June 30, 20203. Business News Member Announcements LIBOR-Indexed Collateral is Ineligible Beginning July 1, 2023 As we approach the June 30, 2023 cessation date for LIBOR, FHLB Des Moines is approaching the final phases of our LIBOR transition plan. Business News Public Announcements MPF® Program surpasses $1 billion in CE Income Paid to FHLBank Members The Mortgage Partnership Finance® Program (MPF®) recently surpassed $1 billion in Credit Enhancement (CE) income paid to almost 1,600 Federal Home Loan Bank (FHLBank) member financial institutions.