News by "member announcements"

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 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 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 Memorial Day Hours In observance of Memorial Day, modifications to our usual service hours will occur. Business News Member Announcements Updated Collateral Loan-to-Values Effective May 10 On May 10, 2021, FHLB Des Moines will implement revised LTVs for most collateral categories. Business News Member Announcements Good Friday Hours In observance of Good Friday, modifications to our usual services will occur. Business News Member Announcements 2021 Stock Recalculation Notice Each year, FHLB Des Moines reviews our members' total assets to determine capital stock requirements for each individual member. According to our Capital Plan, your institution must maintain membership stock in a dollar amount equal to 0.12 percent of your total assets as of December 31, 2020. 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 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.