Last10K.com

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

Federal Home Loan Bank Of Chicago

CIK: 1331451
new2021fhlbclogo.gif
Exhibit 99.1

Q3 2021 Financial Highlights

October 21, 2021

To Our Members:

We are pleased to announce that, based on our preliminary financial results for the third 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 half 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 through fourth quarter 2021 and first quarter 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.

We expect to report net income of $77 million for the third 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, details on the dividend payments, and our third quarter financial highlights are provided at the end of this letter.

Market-Driven Solutions for Our Members

We continue to converse with our members and analyze the market to find new ways to help grow your bottom line. As the markets have begun to rebound, we provided recent specials and strategies to best serve your institutions:

Over the past quarter, we extended our most popular pricing specials until the end of the year, provided insight into balance sheet trends across Illinois and Wisconsin, and shared updated guidance of the ongoing LIBOR transition. We understand the challenges of navigating the uncertainty of the interest rate environment and want to provide you with opportunities to manage your balance sheet strategies more effectively. Please do not hesitate to reach out to your Sales Director about current specials and offerings.

Improved market conditions have enabled us to provide better pricing on Mortgage Partnership Finance® (MPF®) Traditional products in the MPF program. In addition, the Federal Housing Finance Agency and U.S. Department of Treasury recently announced a one year suspension of certain restrictions contained in the Preferred Stock Purchase Agreement enabling the MPF program to resume the purchase of MPF Xtra® loans secured by investment property and second homes.

We’ve enjoyed seeing many of you over the past quarter at our August Management Conference, Credit Union Conference, and ALM golf outings. As local health and safety protocols allow, we encourage you to continue to connect with us through
1

The following information was filed by Federal Home Loan Bank Of Chicago on Thursday, October 21, 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.

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

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

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

Tools

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Background And Basis Of Presentation
Condensed Statement Of Shareholders' Equity (Statement)
Condensed Statements Of Cash Flows
Condensed Statements Of Comprehensive Income
Condensed Statements Of Condition
Condensed Statements Of Income
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Details)
Accumulated Other Comprehensive Income (Loss) (Tables)
Advances
Advances (Tables)
Advances By Counterparty Concentration (Details)
Advances By Redemption Terms (Details)
Advances Reconciliation Of Par Values To Carrying Values (Details)
Allowance For Credit Losses
Allowance For Credit Losses (Tables)
Allowance For Credit Losses Accrued Interest Receivable (Details)
Allowance For Credit Losses Credit Quality Indicators - Mpf Loans Held In Portfolio (Details)
Allowance For Credit Losses Rollforward Cff (Details)
Allowance For Credit Losses Rollforward Mpf (Details)
Capital And Mandatorily Redeemable Capital Stock (Mrcs)
Capital And Mandatorily Redeemable Capital Stock (Mrcs) (Capital Rules) (Details)
Capital And Mandatorily Redeemable Capital Stock (Mrcs) (Regulatory Capital Requirements) (Details)
Capital And Mandatorily Redeemable Capital Stock (Mrcs) (Tables)
Capital And Mandatorily Redeemable Capital Stock (Mrcs) Dividends (Details)
Capital And Mandatorily Redeemable Capital Stock (Mrcs) Fico Dissolution (Details)
Capital And Mandatorily Redeemable Capital Stock (Mrcs) Stockholder Concentration (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies (Tables)
Consolidated Obligations
Consolidated Obligations (Bonds By Callable Feature) (Details)
Consolidated Obligations (Bonds By Maturity Date) (Details)
Consolidated Obligations (Short Term Discount Notes) (Details)
Consolidated Obligations (Systemwide Joint &Amp; Several Liability) (Details)
Consolidated Obligations (Tables)
Derivatives And Hedging Activities
Derivatives And Hedging Activities (Cash Flow Hedges) (Details)
Derivatives And Hedging Activities (Fair Value Hedges) (Details)
Derivatives And Hedging Activities (Narrative) (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)
Derivatives And Hedging Activities Derivatives In Statement Of Income (Details)
Derivatives And Hedging Activities Derivatives In Statements Of Condition (Details)
Fair Value
Fair Value (Fair Value Option Difference Between Fair Value And Unpaid Principal Balance) (Details)
Fair Value (Tables)
Fair Value Fair Value Estimates (Details)
Fair Value Gains (Losses) On Fair Value Option (Details)
Interest Income And Interest Expense
Interest Income And Interest Expense (Details)
Interest Income And Interest Expense (Tables)
Investment Debt Securities
Investment Debt Securities (Available-For-Sale Debt Securities) (Details)
Investment Debt Securities (Held-To-Maturities Debt Securities) (Details)
Investment Debt Securities (Prior Years Otti Accretion) (Details)
Investment Debt Securities (Tables)
Investment Debt Securities (Trading Debt Scurities) (Details)
Investment Debt Securities (Trading Debt Scurities) (Details)
Investment Debt Securities Aging Of Unrealized Temporary Losses (Details)
Investment Debt Securities Contractual Maturities (Details)
Mpf Loans Held In Portfolio (Details)
Mpf Loans Held In Portfolio (Notes)
Mpf Loans Held In Portfolio (Tables)
Mpf Loans Held In Portfolio Covid-19 Forbearance (Details)
Recently Issued But Not Yet Adopted Accounting Standards
Summary Of Significant Accounting Policies
Transactions With Related Parties And Other Fhlbs
Transactions With Related Parties And Other Fhlbs (Details)
Transactions With Related Parties And Other Fhlbs (Tables)

Material Contracts, Statements, Certifications & more

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

CIK: 1331451
Form Type: 10-Q Quarterly Report
Accession Number: 0001331451-21-000218
Submitted to the SEC: Thu Nov 04 2021 1:59:43 PM EST
Accepted by the SEC: Thu Nov 04 2021
Period: Thursday, September 30, 2021
Industry: Federal And Federally Sponsored Credit Agencies

External Resources:

Bookmark the Permalink:
https://last10k.com/sec-filings/1331451/0001331451-21-000218.htm