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New Collateral Process to Address Eligibility and Reporting Errors Member Announcements New Collateral Process to Address Eligibility and Reporting Errors We frequently monitor for trends or patterns in reporting errors in Member Collateral Verifications (MCV) and/or in collateral pledging and may initiate additional action steps to help ensure collateral eligibility and/or reporting get back on track. HELOC Collateral Eligibility Update Effective Oct. 1 Member Announcements HELOC Collateral Eligibility Update Effective Oct. 1 FHLB Des Moines has defined clarification guidance related to Convertible Home Equity Lines of Credit (HELOC) loans (also known as Hybrid HELOCs) as collateral. Federal Home Loan Bank of Des Moines Announces Executive Team Changes Public Announcements Federal Home Loan Bank of Des Moines Announces Executive Team Changes FHLB Des Moines announced changes to its executive management team. LIBOR Advance and Collateral Reporting Changes Effective July 1 Member Announcements LIBOR Advance and Collateral Reporting Changes Effective July 1 In preparation for the phase out of the London Interbank Offered Rate (LIBOR), changes to advance products and collateral reporting tied to LIBOR will go into effect on July 1, 2020. Updated Collateral Loan-to-Values Effective July 13 Member Announcements Updated Collateral Loan-to-Values Effective July 13 On July 13, 2020, FHLB Des Moines will implement revised LTVs for most collateral categories. Now Accepting PPP Loans as Eligible Collateral Member Announcements Now Accepting PPP Loans as Eligible Collateral Beginning Tuesday, May 19, 2020, the Bank is now able to accept SBA Payment Protection Program (PPP) loans as collateral. Deborah Baldwin Named FHLB Des Moines Chief Diversity and Inclusion Officer Public Announcements Deborah Baldwin Named FHLB Des Moines Chief Diversity and Inclusion Officer Effective May 18, Deborah Baldwin will become the new chief diversity and inclusion officer at the Federal Home Loan Bank of Des Moines. Special Relief Funding Available for Members Member Announcements Special Relief Funding Available for Members In response to the coronavirus (COVID-19) pandemic, Federal Home Loan Bank of Des Moines has a special advance offering available for our members. These advances are intended to provide low cost, relief funding to help support the current needs of your customers who have been impacted by COVID-19. Collateral Reporting Change Effective July 1, 2020 Member Announcements Collateral Reporting Change Effective July 1, 2020 With the expected phase-out of LIBOR at the end of 2021, FHLB Des Moines has made a change to its collateral reporting process beginning July 1, 2020. Changes Announced to Down Payment Products Member Announcements Changes Announced to Down Payment Products In response to feedback from our members, FHLB Des Moines has implemented the following changes for our Home$tart and Native American Homeownership Initiative (NAHI) down payment products. FHLB Des Moines Expands Supplier Diversity Program through an Online Bidding Platform Public Announcements FHLB Des Moines Expands Supplier Diversity Program through an Online Bidding Platform We are expanding our Supplier Diversity Program. Earlier this month, we began accepting bids online for open contracting opportunities to strengthen our connection with diverse suppliers from across our district. COVID-19 Preparedness Member Announcements COVID-19 Preparedness At FHLB Des Moines, we are closely monitoring developments around coronavirus (COVID-19). Our priority remains the safety of our members and our employees.