2018 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, 2017, with a maximum of $10 million and a minimum of $10,000. Adjustments for 2018 will take place on Wednesday, March 28, 2018. If you have any questions, please contact Member and Financial Operations or call 800.544.3452, ext. 1424.
Letters of Credit Changes
The following changes to Federal Home Loan Bank of Des Moines Letters of Credit go into effect on February 5, 2018:
Collapsing of Price Tiers
- FHLB Des Moines is collapsing the pricing tiers for Letters of Credit.
- There is now a single price for all Letter of Credit types, regardless of size, including Letters of Credit issued in conjunction with the FHLB Des Moines Public Unit Deposit program.
- This change provides greater flexibility for members.
- To view the updated pricing schedule, please see the Fee Schedule.
Elimination of Average Daily Balance and Direct Pay Letters of Credit
- The Average Daily Balance and Direct Pay Letters of Credit are no longer available.
- Outstanding Average Daily Balance and Direct Pay Letters of Credit types will be honored until the next scheduled renewal date, or expiration date, whichever occurs first.
Adjustment to Minimum Fees
- FHLB Des Moines has long held our service fees well below industry norm.
- The changes to our Letters of Credit fees are specific to minimum fees which many Letters of Credit charges easily exceed.
For questions regarding the Letters of Credit changes above, please contact your FHLB Des Moines Relationship Manager.
|04/24/18||Coralville Regional Member Meeting
|04/24/18||Insurance Company Conference
Des Moines, IA
|04/27/18||Anchorage Regional Member Meeting
|05/02/18||Honolulu Regional Member Meeting
|05/04/18||Seattle Regional Member Meeting
|05/08/18||Bozeman Regional Member Meeting