Federal Home Loan Bank Of Chicago 10K Annual Reports & 10Q SEC Filings

We have remained steadfast in our mission through the ongoing challenges of COVID-19 and an ever-changing economic landscape and I sincerely thank you, our members, for making 2021 a success. As we continued to demonstrate our unwavering commitment to being a reliable and competitive source of funding to our members, we advanced our products to help you invest in your communities. I also want to acknowledge the many of you who helped us better understand where you are in your diversity, equity and inclusion (DEI) journey. Your feedback, through open and candid dialogues with our sales directors and responses from our DEI surveys, provided direction for how we can tailor our products to better meet your needs and the diverse communities you serve. We remain committed to offering a range of community investment products that support diverse and underserved communities throughout Illinois and Wisconsin and the year ahead brings even more opportunity to expand program offerings to you and your partners. I wholeheartedly believe that a positive DEI platform has helped strengthen both our culture and our cooperative, all while helping you achieve your financial and community investment goals. With that, I am pleased to share some of our accomplishments over the last year.

We expect to report net income of $275 million for 2021 when we file our 2021 Annual Report on Form 10-K with the Securities and Exchange Commission (SEC) next month. Our preliminary and unaudited 2021 financial results and details on our 2021 financial performance are provided at the end of this letter. Based on our preliminary fourth quarter 2021 results, the Board of Directors of FHLBank Chicago declared our Q4 dividend on January 28, 2022 – 5.00% (annualized) for Class B1 activity stock and 2.00% (annualized) for Class B2 membership stock. Dividends will be paid February 15, 2022. A reminder that the net benefit of the higher dividend received on Class B1 activity stock has the effect of lowering your borrowing costs from us, currently estimated at 21.1 bps* interest rate reduction.

As communicated last month, we expect to maintain at least a 5.00% (annualized) dividend for Class B1 activity stock for the first and second quarters of 2022, based on current projections and assumptions regarding our financial condition. We are providing this information to assist you in planning your advance, letters of credit, and Mortgage Partnership Finance® (MPF®) Program on-balance sheet product activity with us. Any future dividend payments remain subject to determination and declaration by our Board of Directors and may be impacted by changes in financial or economic conditions, regulatory and statutory limitations, and any other relevant factors.

The following information was filed by Federal Home Loan Bank Of Chicago on Thursday, February 10, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Federal Home Loan Bank Of Chicago's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Federal Home Loan Bank Of Chicago provided additional information to their SEC Filing as exhibits

Exhibit 4.2: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 10.13: Material Contract

Exhibit 24: Power Of Attorney

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

CIK: 1331451
Form Type: 10-K Annual Report
Accession Number: 0001331451-22-000049
Submitted to the SEC: Thu Mar 10 2022 12:39:28 PM EST
Accepted by the SEC: Thu Mar 10 2022
Period: Friday, December 31, 2021
Industry: Federal And Federally Sponsored Credit Agencies

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Federal Home Loan Bank Of Chicago (1331451) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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