FHLB Des Moines Awards Housing Grants Member financial institutions and community development organizations partnered to receive more than $7.3 million in Affordable Housing Program grants. More… Affordable Housing Program Scoring Changes FHLB Des Moines is addressing the mortgage crisis by changing scoring priorities for its Affordable Housing Program (AHP) competitive grant applications. More...       2008 Spring Member Meetings More than 560 people from 300 member financial institutions attended the 2008 Spring Member Meetings hosted by FHLB Des Moines. Held in nine locations throughout the Bank’s five-state district, the meetings focused on liquidity and funding management. More...     Congressman Cleaver Announces AHP Grant Congressman Emanuel Cleaver (D-MO) presented representatives from Habitat for Humanity of Kansas City and CommunityAmerica Credit Union with a ceremonial check for $110,000 during an event held on July 2. Representative Cleaver visited a Habitat site in Kansas City, Missouri to make the announcement. The grant was awarded as part of the Bank's first round of 2008 AHP funding and will be used to build 11 new homes in the urban core of Kansas City.

Dick Swanson President & CEO FHLB Des Moines President's Message The advent of summer saw our town and much of the Midwest fighting rising water from overloaded lakes, streams and rivers.  Many of our members either faced tornadoes or floods and some communities suffered extensive damage. While the water may have receded, the damage and destruction remain.  We have been working with members that have lost their facilities and whose employees have lost their homes.  In an effort to help, the Bank's Board of Directors on June 19th voted to increase our Community Investment Advances allocation by $250 million to help members that need to rebuild their own facilities and help with the rebuilding of their communities. FHLB Des Moines members lending in 2008 Federally Declared Disaster Areas are eligible for Community Investment Advances to help finance the repair or reconstruction of homes, businesses or infrastructure damaged by disasters.  The Bank is waiving its per member limit which is the greater of 15% of non-Community Investment Advances or $5 million, for any member borrowing funds for a 2008 Federally Declared Disaster Area.  The maximum amount a member may borrow will be determined by the Bank on a case-by-case basis.  More... Financial Highlights On May 12, 2008, FHLB Des Moines released unaudited financial results for the first quarter ended March 31, 2008 and announced a quarterly dividend at an annualized rate of 4.00%. More... Sensitivity Training for Asset-Liability Managers By: Brad Spears, Vice President, Member Services, FHLB Des Moines Since September of 2007, the Federal Reserve Open Market Committee (FOMC) has lowered the fed funds rate 325 basis points (bp) including an extremely rare 75 bp inter-meeting cut.  These FOMC mandated declines have resulted in a reduction of similar magnitude in the Prime rate. More... USDA Rural Development Loan Guarantees United States Department of Agriculture (USDA) Rural Development provides loan guarantees to lenders which help rural individuals and legal entities, both for profit or nonprofit, with their real estate and equipment business-related needs. More...