Federal Home Loan Bank Of Chicago 10-Q Quarterly Report Thu May 06 2021

No one could have predicted the challenges of the past year brought about by the COVID-19 pandemic. In times of change, we value what is familiar, reliable, and secure; but adversity compels us to challenge our ways of thinking, advance how we work together, and embrace an innovative spirit that can result in transformative change. We are inspired by your resiliency and adaptation to change during this time, and we are also evolving to support your changing business needs.

At the Federal Home Loan Bank of Chicago (FHLBank Chicago) our mission, vision, values, and commitment to diversity, equity, and inclusion serve as our guides to support your businesses and your communities now and for years to come. Our new, rebranded visual identity reflects these pillars and what makes us FHLBank Chicago—our geographic district of Illinois and Wisconsin, our members, and the diverse communities you serve.

Our new headquarters located in Chicago’s historic Old Post Office (433 West Van Buren Street, Suite 501S, Chicago, Illinois 60607) enabled us to create an office space designed to enrich innovation and collaboration to develop the products, services, and solutions you value most. As we continue to monitor COVID-19 developments, we do not anticipate fully opening our office until the late summer.

For the latest updates on our products, services, and solutions, subscribe to The Daily Advisor—a new, daily email delivered to your inbox each morning. Information on our previously announced new activity stock requirements effective May 3, 2021, our zero-rate advance (read below for more information), upcoming LIBOR transition webinar, and plans for our 2021 member conferences will be available through The Daily Advisor. Please reach out to your Sales Director if you would like to subscribe.

First Quarter 2021 Dividend and Dividend Guidance

We are pleased to announce that, based on our preliminary financial results for the first quarter of 2021, the Board of Directors of FHLBank Chicago declared a dividend of 5.00% (annualized) for Class B1 activity stock. FHLBank Chicago pays a higher dividend per share on your Class B1 activity stock to recognize members that support the entire cooperative through the use of our products. The higher dividend received on Class B1 activity stock has the effect of lowering your borrowing costs, and this benefit has continued on a relative basis as the Federal Reserve has maintained lower interest rates.

We expect to maintain a 5.00% (annualized) dividend for Class B1 activity stock for the second and third quarters of 2021, 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.

The following information was filed by Federal Home Loan Bank Of Chicago on Tuesday, April 27, 2021 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Assess how Federal Home Loan Bank Of Chicago's management team is paid from their Annual Proxy

Federal Home Loan Bank Of Chicago's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

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

Exhibit 4.1: Instruments Defining The Rights Of Security Holders, Including Indentures

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-Q Quarterly Report
Accession Number: 0001331451-21-000098
Submitted to the SEC: Thu May 06 2021 12:00:51 PM EST
Accepted by the SEC: Thu May 06 2021
Period: Wednesday, March 31, 2021
Industry: Federal And Federally Sponsored Credit Agencies

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Federal Home Loan Bank Of Chicago (1331451) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

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