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LIBOR-Indexed Collateral is Ineligible Beginning July 1, 2023Business News Member Announcements LIBOR-Indexed Collateral is Ineligible Beginning July 1, 2023 As we approach the June 30, 2023 cessation date for LIBOR, FHLB Des Moines is approaching the final phases of our LIBOR transition plan. Timeline for Future LIBOR-Indexed Collateral ChangesBusiness News Member Announcements Timeline for Future LIBOR-Indexed Collateral Changes With the LIBOR cessation date set for June 30, 2023, FHLB Des Moines has announced a timeline of future changes regarding LIBOR-indexed collateral. Eligibility Changes for LIBOR-Indexed Securities CollateralBusiness News Member Announcements Eligibility Changes for LIBOR-Indexed Securities Collateral Effective June 30, 2021, new non-U.S. Government or Agency LIBOR-indexed securities pledged as collateral will be required to include acceptable fallback language if the maturity is beyond the LIBOR cessation date of June 30, 2023. FHLB Des Moines Announces Advance Product ChangesBusiness News Member Announcements FHLB Des Moines Announces Advance Product Changes In preparation for the expected phase-out of the London Interbank Offered Rate (LIBOR) by the end of 2021, the Bank has implemented advance product changes effective January 4, 2021. FHLB Des Moines Adopts LIBOR Fallback LanguageBusiness News Member Announcements FHLB Des Moines Adopts LIBOR Fallback Language To conform with the market transition away from LIBOR, FHLB Des Moines is adopting the Alternative Reference Rate Committee's (ARRC) recommended fallback language for floating rate notes tied to LIBOR. FHLB Des Moines to Gather LIBOR-Linked Collateral InformationBusiness News Member Announcements FHLB Des Moines to Gather LIBOR-Linked Collateral Information Beginning on January 1, 2020, members reporting loan collateral will be asked to complete a brief survey identifying LIBOR-linked collateral with maturities beyond December 31, 2021. FHLBank System Regulator Provides LIBOR Transition GuidanceBusiness News Member Announcements FHLBank System Regulator Provides LIBOR Transition Guidance The financial markets are preparing for the expected phase-out of the London Interbank Offered Rate (LIBOR) by the end of 2021. FHLBanks Surpass $100 Billion in SOFR-linked IssuanceBusiness News Member Announcements FHLBanks Surpass $100 Billion in SOFR-linked Issuance The Office of Finance announced that the Federal Home Loan Bank System has issued over $100 billion in SOFR-linked securities since its first issuance in November of last year. Advance Product Changes – Effective June 3, 2019Business News Member Announcements Advance Product Changes – Effective June 3, 2019 As part of its LIBOR transition plan, the Federal Home Loan Bank of Des Moines is implementing changes to the advance products listed below, effective June 3, 2019.