8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): August 3, 2023

Federal Home Loan Bank of Des Moines

__________________________________________

(Exact name of registrant as specified in its charter)

Federally Chartered Corporation of the United States	000-51999	42-6000149
(State or other jurisdiction	(Commission	(I.R.S. Employer
of incorporation)	File Number)	Identification No.)

909 Locust Street
Des Moines, Iowa	50309
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code: 515-412-2100

Not Applicable

Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if they registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 8.01 Other Events.

Fitch Ratings, Inc. (Fitch) recently reduced the Federal Home Loan Bank of Des Moines’ (FHLB Des Moines) long-term credit rating from AAA to AA+ following its downgrade of the U.S. Government. The downgrade is not a reflection of FHLB Des Moines operations; it is solely tied to the U.S. Government downgrade.

With respect to the U.S. Government downgrade, Fitch cited “a high and growing general government debt burden, and the erosion of governance relative to 'AA' and 'AAA' rated peers over the last two decades that has manifested in repeated debt limit standoffs and last-minute resolutions.”

Fitch had previously placed both the U.S. Government and the Federal Home Loan Bank of Des Moines on “rating watch negative;” the negative watch will be replaced with “stable outlook.”

Not all Federal Home Loan Banks are rated by Fitch. FHLB Des Moines is rated by Fitch to support our efforts to assist housing finance agencies in our district.

FHLB Des Moines’ current long-term credit ratings are AAA by Moody’s and AA+ by both S&P and Fitch. FHLB Des Moines does not anticipate that this recent action by Fitch will have any effect on its ability to meet its members’ needs.

SIGNATURE

Pursuant to the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Federal Home Loan Bank of Des Moines
August 4, 2023	By:	/s/ William W. Osborn
		Name: William W. Osborn
		Title: Chief Business Officer

XML

Cover	Aug. 03, 2023
Cover [Abstract]
Document Period End Date	Aug. 03, 2023
Entity Registrant Name	Federal Home Loan Bank of Des Moines
Entity Incorporation, State or Country Code	X1
Entity File Number	000-51999
Entity Tax Identification Number	42-6000149
Entity Address, Postal Zip Code	50309
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0001325814
Entity Address, Address Line One	909 Locust Street
Entity Address, State or Province	IA
Document Type	8-K
City Area Code	515
Local Phone Number	412-2100
Entity Address, City or Town	Des Moines
Written Communications	false