FHLB Des Moines to Purchase Member CDs

 

FHLB Des Moines is again responding to our members’ needs for liquidity in the current stressed economic environment by offering a new program. The Bank will purchase Certificates of Deposit (CDs) from its federally insured members beginning in early February. Members can increase their liquidity without pledging additional collateral or impacting their advance capacity at the Bank.

 

The following conditions apply in order for the Bank to purchase a member’s CD:

• Must be insured by the FDIC or National Credit Union Administration
• Cannot exceed $250,000 per member (including interest)
• Maximum term of 270 days
• Final maturity no later than December 31, 2009

Member CD Purchase Program rates:

• CD rates that the Bank seeks when placing a CD in a member institution is listed in the table below. Rates are subject to change throughout the day
• CD Purchase Program Rates will be posted on the Bank’s website when the program is initiated

Indicative rate information as of January 21, 2009 for the purchase of member CDs: 

 

 

More information about the purchase of member CDs will be available soon. Look for further announcements including the start date of the CD Purchase Program by accessing FHLB Des Moines website at http://www.fhlbdm.com.

 

Contact your Vice President of Member Services with questions or for further details.