Federal Home Loan Bank Of Chicago 10-Q Quarterly Report August 2021

We are pleased to announce that, based on our preliminary financial results for the second quarter of 2021, the Board of Directors of the Federal Home Loan Bank of Chicago (FHLBank Chicago) declared a dividend of 5.00% (annualized) for Class B1 activity stock and a dividend of 2.00% (annualized) for Class B2 membership stock, maintaining the levels declared for the first quarter of 2021. 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.

We expect to maintain a 5.00% (annualized) dividend for Class B1 activity stock for the third and fourth 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.

We expect to report net income of $78 million for the second quarter of 2021 when we file our Form 10-Q with the Securities and Exchange Commission (SEC) next month. Our preliminary and unaudited financial results are included here and details on the dividend payments and our second quarter financial highlights are provided at the end of this letter.

Evolving Business Landscape

As the business landscape for certain products and services is evolving, we’re adapting to these changes and leveraging new technologies that will be key to your success. As your trusted advisor, we can ensure you that our forward-thinking teams are well positioned and prepared to guide you through these changes.

•MPF Program: In January of this year, the U.S. Department of the Treasury and the Federal Housing Finance Agency amended the Preferred Stock Purchase Agreement with Fannie Mae and Freddie Mac. There are market changes coming out of the amended agreement impacting market participants including the MPF Program and the MPF Xtra® product. In the short term, the level of non-owner occupied loans that can be sold to Fannie Mae has been limited. The amended agreement will also limit the total dollar amount of loans that can be sold to Fannie Mae through the cash window starting in 2022. We continue to focus on serving our members and limiting the negative impacts from these potential disruptions. While we work to reopen non-owner occupied loans that can be sold through MPF Xtra, our MPF Traditional products can accept loans on second homes and may be used as an alternative for these loans. As we adjust to these market changes and as we make headway on solutions, we will provide further updates. You can also monitor our efforts on our eMPF website and through your sales director.

The following information was filed by Federal Home Loan Bank Of Chicago on Thursday, July 29, 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.

Please wait while we load the requested 10-Q report or click the link below:

https://last10k.com/sec-filings/report/1331451/000133145121000163/fhlbc-20210630.htm

View differences made from one quarter to another to evaluate Federal Home Loan Bank Of Chicago's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Federal Home Loan Bank Of Chicago.

Continue

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

Continue

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 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: 0001331451-21-000163
Submitted to the SEC: Thu Aug 05 2021 2:15:50 PM EST
Accepted by the SEC: Thu Aug 05 2021
Period: Wednesday, June 30, 2021
Industry: Federal And Federally Sponsored Credit Agencies

External Resources:

Bookmark the Permalink:
https://last10k.com/sec-filings/1331451/0001331451-21-000163.htm

Federal Home Loan Bank Of Chicago (1331451) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

SEC Filings

1331451 Annual Reports

1331451 Quarterly Reports

1331451 Corporate News

1331451 Corporate News