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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

Federal Home Loan Bank Of Chicago

CIK: 1331451
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Exhibit 99.1

February 6, 2020

To Our Members:
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.

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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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Statements Of Cash Flows
Statements Of Comprehensive Income
Statements Of Condition
Statements Of Income
Statements Of Stockholders' Equity
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Tables)
Accumulated Other Comprehensive Income (Loss) (Details)
Advances
Advances (By Counterparty Concentration) (Details)
Advances (By Payment Terms) (Details)
Advances (By Redemption Terms) (Details)
Advances (Tables)
Affordable Housing Program (Notes)
Affordable Housing Program (Tables)
Affordable Housing Program Affordable Housing Program Ahp (Details)
Affordable Housing Program Ahp Rollforward (Details)
Allowance For Credit Losses
Allowance For Credit Losses (Tables)
Allowance For Credit Losses Credit Quality Indicators - Mpf Loans (Details)
Allowance For Credit Losses Loans Evaluated For Impairment (Details)
Background And Basis Of Presentation
Capital And Mandatorily Redeemable Capital Stock (Mrcs)
Capital And Mandatorily Redeemable Capital Stock (Mrcs) (Tables)
Capital And Mandatorily Redeemable Capital Stock (Mrcs) Capital Concentration (Details)
Capital And Mandatorily Redeemable Capital Stock (Mrcs) Capital Rules (Details)
Capital And Mandatorily Redeemable Capital Stock (Mrcs) Dividends (Details)
Capital And Mandatorily Redeemable Capital Stock (Mrcs) Joint Capital Enhancement Agreement (Details)
Capital And Mandatorily Redeemable Capital Stock (Mrcs) Mandatorily Redeemable Capital Stock (Mrcs) (Details)
Capital And Mandatorily Redeemable Capital Stock (Mrcs) Regulatory Capital Requirements And Actuals (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies (Tables)
Consolidated Obligations
Consolidated Obligations (Bonds By Callable Feature) (Details)
Consolidated Obligations (Short Term Discount Notes) (Details)
Consolidated Obligations (Tables)
Consolidated Obligations Bonds By Maturity Date) (Details)
Consolidated Obligations Interest Rate Payment Terms (Details)
Consolidated Obligations Systemwide Joint And Several Liability (Details)
Derivatives And Hedging Activities
Derivatives And Hedging Activities (Narrative) (Details)
Derivatives And Hedging Activities (Cash Flow Hedges) (Details)
Derivatives And Hedging Activities (Derivatives In Statement Of Income) (Details)
Derivatives And Hedging Activities (Derivatives In Statements Of Condition) (Details)
Derivatives And Hedging Activities (Fair Value Hedges) (Details)
Derivatives And Hedging Activities (Tables)
Derivatives And Hedging Activities Cumulative Basis Adjustments For Fair Value Hedges (Details)
Derivatives And Hedging Activities Derivative Assets With Legal Right Of Offset (Details)
Derivatives And Hedging Activities Derivative Liabilities With Legal Right Of Offset (Details)
Employee Retirement Plans (Notes)
Employee Retirement Plans (Tables)
Employee Retirement Plans Multiemployer Pension Plan (Details)
Fair Value
Fair Value (Significant Inputs) (Details)
Fair Value (Tables)
Fair Value Difference Between Fair Value And Unpaid Principal Balance - Fair Value Option (Details)
Fair Value Fair Value Estimates (Details)
Fair Value Gains (Losses) On Fair Value Option (Details)
Fair Value Level 3 Reconciliation Assets (Details)
Interest Income And Interest Expense
Interest Income And Interest Expense (Tables)
Interest Income And Interest Expense Interest Income And Expense (Details)
Investment Debt Securities
Investment Debt Securities (Available-For-Sale Debt Securities) (Details)
Investment Debt Securities (Held-To-Maturities Debt Securities) (Details)
Investment Debt Securities (Tables)
Investment Debt Securities (Trading Debt Securities) (Details)
Investment Debt Securities Aging Of Unrealized Temporary Losses (Details)
Investment Debt Securities Contractual Maturities (Details)
Investment Debt Securities Contractual Maturity Terms Available For Sale Securities (Details)
Investment Debt Securities Contractual Maturity Terms Held To Maturity Securities (Details)
Investment Debt Securities Contractual Maturity Terms Investments (Details)
Investment Debt Securities Contractual Maturity Terms Trading Securities (Details)
Investment Debt Securities Interest Rate Payment Terms (Details)
Investment Debt Securities Investment Securities Otti Rollforward (Details)
Investment Debt Securities Ongoing Litigation (Details)
Investment Debt Securities Other-Than-Temporarily Impaired Life To Date (Details)
Mpf Loans Held In Portfolio
Mpf Loans Held In Portfolio (Details)
Mpf Loans Held In Portfolio (Tables)
Recently Issued But Not Yet Adopted Accounting Standards
Recently Issued But Not Yet Adopted Accounting Standards Narrative (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies Narrative (Details)
Transactions With Related Parties And Other Fhlbs
Transactions With Related Parties And Other Fhlbs (Details)
Transactions With Related Parties And Other Fhlbs (Tables)
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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