News by "Business News"

Business News Member Announcements FHLB Des Moines Announces Advance Product Changes In preparation for the expected phase-out of the London Interbank Offered Rate (LIBOR) by the end of 2021, the Bank has implemented advance product changes effective January 4, 2021. Business News Public Announcements FHLB Des Moines Response: FireEye and SolarWinds Security Breaches FHLB Des Moines is aware of recent security breaches at FireEye and SolarWinds. The Bank does not utilize any products or services from FireEye. The Bank does, however, utilize certain products in the SolarWinds Orion Platform. Business News Member Announcements 2021 Affordable Housing Program Information Now Available Full details for the 2021 FHLB Des Moines Down Payment Products and the Competitive Affordable Housing Program are now available. Business News Member Announcements FHLB Des Moines Adopts LIBOR Fallback Language To conform with the market transition away from LIBOR, FHLB Des Moines is adopting the Alternative Reference Rate Committee's (ARRC) recommended fallback language for floating rate notes tied to LIBOR. Business News Public Announcements 2020 Holiday Hours The holiday season is upon us and with that comes amended hours. Business News Member Announcements Changes to Underwriting Assessment Matrix - 2020 As of October 5, 2020, several changes were made to the Underwriting Assessment Matrix used in collateral reviews. Business News Member Announcements Updated Down Payment Agreement In order to access FHLB Des Moines Down Payment Products in 2021, all members must sign an updated Affordable Housing Program Subsidy Agreement for Homeownership Down Payment Products. Business News 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. Business News 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. Business News Public Announcements Federal Home Loan Bank of Des Moines Announces Executive Team Changes FHLB Des Moines announced changes to its executive management team. Business News 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. Business News 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.