Material Adverse Events: When and How to Report

last updated on Wednesday, July 31, 2024 in Member Services

All Federal Home Loan Bank of Des Moines members are required to report material adverse events to the Bank as soon as possible. Events can include, but not limited to, the discovery of fraud occurring, a material asset write-off, a significant decline in capital or other material event which may affect the member's creditworthiness. These can happen without a moment’s notice, especially with natural disasters like flooding, tornados and hurricanes. 

Start by Reporting to the Credit Department

The primary point of contact for reporting material adverse events is this confidential email address: Member-Credit@fhlbdm.com

In your email report, you should include:

• Institution and member number
• Contact person name, phone number and email address
• Brief description of material adverse event
• Date event occurred

MEMBER CREDIT INFORMATION

Next Step: Evaluation of Information

Following a member report, the Bank will evaluate the information and if necessary, reach out to discuss the event to fully understand the facts and circumstances. Then, the Bank will evaluate the significance and determine what actions, if any, may be taken. If any action is necessary, the Bank will contact the member before taking the action.

Resulting Actions Following Report and Evaluation

Following the evaluation of the Material Adverse Event, actions that may result can include, but are not limited to, adjusting the member's credit capacity or collateral pledging requirements.

If you have any further questions about your reporting responsibility, contact your relationship manager or Member-Credit@fhlbdm.com