Federal Home Loan Bank Of Chicago 10-K Annual Report Wed Mar 11 2020

During 2019, the Federal Home Loan Bank of Chicago remained focused on providing value to you, our members, in the products, programs, solutions, and services that we offer. As your member-owned and member-focused cooperative, we strive to support the needs of our members to help you to improve your net income or mitigate your interest-rate risk in an increasingly competitive landscape. We are pleased to share with you many of the year’s highlights in which we supported you and your communities.

Member Product and Program Use

In 2019, 84% of our member institutions used at least one of our core product offerings-advances, letters of credit, or Mortgage Partnership Finance® (MPF®) Program products-or participated in our competitive Affordable Housing Program (AHP) or Downpayment Plus® (DPP®) Programs. Below is a recap of member product and program use in 2019.


•	Advances outstanding: At year-end 2019, 366 members had advances of $50.5 billion, down 4% from year-end 2018.


•	Letters of Credit: At year-end 2019, 211 members had letters of credit outstanding of $23.9 billion, down 2% from year-end 2018.


•	MPF loans outstanding: At year-end 2019, MPF loans outstanding on our balance sheet were $10.0 billion, up 41% from year-end 2018.


•	Competitive AHP: In 2019, $27.7 million was awarded through our competitive AHP to help finance 50 affordable housing projects consisting of 2,671 housing units located primarily in Illinois and Wisconsin.


•	DPP: In 2019, 192 members reserved more than $19 million in DPP grants on behalf of 3,421 homebuyers in your communities.

Reducing the Cost of Advances with the Activity Stock Dividend

In connection with announcing our dividend levels for the third quarter of 2019, we began providing dividend guidance for Class B1 activity stock for the subsequent two quarters to assist you in planning your advance activity with us. We plan to continue to share dividend guidance in this manner going forward, subject to quarterly evaluation by our Board of Directors. We use the activity stock dividend as one way in which you receive value from your membership as it rewards members that support the entire cooperative by borrowing from the Bank.

We maintained rates on both dividends in the fourth quarter of 2019 and in forward guidance even as the Federal Reserve reduced rates, providing additional value to all of our members.

The following information was filed by Federal Home Loan Bank Of Chicago on Thursday, February 6, 2020 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 2020 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 10.16: 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: 0001331451-20-000047
Submitted to the SEC: Wed Mar 11 2020 3:59:28 PM EST
Accepted by the SEC: Wed Mar 11 2020
Period: Tuesday, December 31, 2019
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 Tuesday, December 31, 2019

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