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): January 18, 2011

Federal Home Loan Bank of Topeka
__________________________________________
(Exact name of registrant as specified in its charter)

Federally Chartered Corporation	000-52004	48-0561319
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
One Security Benefit Pl. Suite 100, Topeka, Kansas		66606
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: 785.233.0507

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))

Item 2.02 Results of Operations and Financial Condition.

On January 18, 2011, the Federal Home Loan Bank of Topeka ("FHLBank") distributed a message to its members providing a summary of FHLBank's achievements in 2010 and goals for 2011. A copy of the message to members is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

Item 7.01 Regulation FD Disclosure.

The information provided in Item 2.02 of this Current Report on Form 8-K is incorporated herein by reference.

The information in this Current Report on Form 8-K and the information contained in Exhibit 99.1 is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 as amended (the "Exchange Act") or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933 if such subsequent filing specifically references this Current Report on Form 8-K. In addition, the furnishing of information in this Current Report on Form 8-K is not intended to, and does not, constitute a determination or admission by the FHLBank that the information is material or complete.

Forward Looking Statements
The information contained in Exhibit 99.1 and incorporated herein contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements describing the objectives, projections, estimates or future predictions of FHLBank’s operations. These statements may be identified by the use of forward-looking terminology such as "will," "allow" or other variations on these terms. FHLBank cautions that by their nature forward-looking statements involve risk or uncertainty and that actual results may differ materially from those expressed in any forward-looking statements as a result of such risks and uncertainties, including but not limited to: political events, including legislative, regulatory, judicial or other developments that affect the FHLBank, its members, counterparties or investors; regulatory actions and determinations, including those resulting from the Dodd-Frank Wall Street Reform and Consumer Protection Act; changes in economic and market conditions, including conditions in the mortgage, housing and capital markets; changes in demand for advances or consolidated obligations of FHLBank and/or of the FHLBank System; effects of derivative accounting treatment, OTTI accounting treatment and other accounting rule requirements; the effects of amortization/accretion; gains/losses on derivatives or on trading investments; volatility of market prices, rates and indices and the timing and volume of market activity; changes in the FHLBank’s capital structure; membership changes, including changes resulting from member failures, merger or changes in principal place of business; soundness of other financial institutions, including FHLBank members, nonmember borrowers and the other FHLBanks; changes in the value or liquidity of collateral underlying advances to FHLBank members or nonmember borrowers or collateral pledged by derivative counterparties; changes in the fair value and economic value of, impairment of, and risks associated with the FHLBank’s investments in mortgage loans and mortgage-backed securities or other assets and the r elated credit enhancement protections; competitive forces, including the availability of other sources of funding for members; the willingness of members to do business with the FHLBank; the ability of the FHLBank to introduce new products and services to meet market demand and to manage successfully the risks associated with new products and services; the ability of each of the other FHLBanks to repay the principal and interest on consolidated obligations for which it is the primary obligor and with respect to which the FHLBank has joint and several liability; and adverse developments or events affecting or involving other Federal Home Loan Banks, housing GSEs or the FHLBank System in general. Additional risks that might cause FHLBank’s results to differ from these forward-looking statements are provided in detail in FHLBank’s filings with the SEC, which are available at www.sec.gov.

All forward-looking statements contained in Exhibit 99.1 and incorporated herein are expressly qualifie d in their entirety by this cautionary notice. The reader should not place undue reliance on such forward-looking statements, since the statements speak only as of the date that they are made and FHLBank has no obligation and does not undertake publicly to update, revise or correct any forward-looking statement for any reason.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Message to FHLBank members dated January 18, 2011.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Federal Home Loan Bank of Topeka
January 18, 2011	By:	/s/ Patrick C. Doran
		Name: Patrick C. Doran
		Title: SVP, General Counsel

Exhibit Index

Exhibit No.	Description
99.1	Message to FHLBank members dated January 18, 2011.

EX-99.1

January 18, 2011

Dear FHLBank Member:

We are pleased to report to you that your Federal Home Loan Bank had a strong year in 2010. We provided you uninterrupted access to liquidity at very competitive rates, paid strong dividends and repurchased member capital stock whenever requested. We maintained a steady course and executed the plans that make FHLBank an organization of which you can be proud. We have a dedicated staff, a seasoned management team and an outstanding board of directors.

You will see in our 2010 annual earnings release and Form 10-K, to be filed in April 2011, that advances, not surprisingly, decreased 13% during the year to approximately $19.5 billion. However, our business model is one that allows the capital base and assets to grow or shrink according to your needs, without a material change in return on equity. More importantly, from the outset of the financial crisis, we have continued to perform well because we follow a traditional, conservative and sensible approach to managing our balance sheet. In addition, our Mortgage Partnership Finance® Program experienced a record year in both the number of members selling loans to us and in mortgages purchased. In 2011, we will continue to strengthen our capital position and maintain our high level of retained earnings.

As we move forward with our conservative business model, we’ve further strengthened the Bank’s overall risk governance, monitoring and control by naming Mark Yardley, EVP, as Chief Risk Officer. Another change in 2010 was the re-establishment of a risk management committee of the board of directors (replacing the finance committee) and the formation of two new FHLBank management committees: a Strategic Risk Management Committee and an Operations Risk Committee.

In 2010, we were honored that the National Housing Conference (NHC) recognized the Federal Home Loan Bank System’s Affordable Housing Program (AHP) – the nation’s largest source of private grant funds for affordable housing – with the 2010 “Housing Program of the Year” Award. 2010 marked the 20th anniversary of AHP, a grant program that has provided, system-wide, $3.7 billion for the creation of more than 670,000 affordable rental and owned homes for low- to moderate-income families. We’re proud of the thousands of homes and apartments that the FHLBank AHP grants have helped our members create throughout Colorado, Kansas, Nebraska and Oklahoma and look forward to continuing these efforts.

As Congress debates the future of the government-sponsored enterprises, we are reaching out to the Members of the 112th Congress so they understand the full scope and combined importance of the FHLBank System and our members for both our communities and our economy.

As always, we remain focused on meeting our members’ funding needs by offering a variety of needed programs to better serve you. We want to express our personal appreciation to each of you for the business you entrusted to FHLBank in 2010. Please know that we are here to help you continue to play a key role in building your communities.

We very much appreciate your support and thank you for your continued patronage.

Sincerely,

Andy Jetter
President and CEO Dave Fisher
Senior EVP and COO

Mortgage Partnership Finance is a registered trademark of the Federal Home Loan Bank of Chicago.

Forward Looking Statements

The information contained in this announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements describing the objectives, projections, estimates or future predictions of FHLBank’s operations. These statements may be identified by the use of forward-looking terminology such as “will,” “allow” or other variations on these terms. FHLBank cautions that by their nature forward-looking statements involve risk or uncertainty and that actual results may differ materially from those expressed in any forward-looking statements as a result of such risks and uncertainties, including but not limited to: political events, including legislative, regulatory, judicial or other developments that affect the FHLBank, its members, counterparties or investors; regulatory actions and determinations, including those resulting from the Dodd-Frank Wall Street Reform and Consumer Protection Act; changes in economic and market conditions, including conditions in the mortgage, housing and capital markets; changes in demand for advances or consolidated obligations of FHLBank and/or of the FHLBank System; effects of derivative accounting treatment, OTTI accounting treatment and other accounting rule requirements; the effects of amortization/accretion; gains/losses on derivatives or on trading investments; volatility of market prices, rates and indices and the timing and volume of market activity; changes in the FHLBank’s capital structure; membership changes, including changes resulting from member failures, merger or changes in principal place of business; soundness of other financial institutions, including FHLBank members, nonmember borrowers and the other FHLBanks; changes in the value or liquidity of collateral underlying advances to FHLBank members or nonmember borrowers or collateral pledged by derivative counterparties; changes in the fair value and economic value of, impairment of, and risks associated with the FHLBank’s investments in mortgage loans and mortgage-backed securities or other assets and the related credit enhancement protections; competitive forces, including the availability of other sources of funding for members; the willingness of members to do business with the FHLBank; the ability of the FHLBank to introduce new products and services to meet market demand and to manage successfully the risks associated with new products and services; the ability of each of the other FHLBanks to repay the principal and interest on consolidated obligations for which it is the primary obligor and with respect to which the FHLBank has joint and several liability; and adverse developments or events affecting or involving other Federal Home Loan Banks, housing GSEs or the FHLBank System in general. Additional risks that might cause FHLBank’s results to differ from these forward-looking statements are provided in detail in FHLBank’s filings with the SEC, which are available at www.sec.gov.

All forward-looking statements contained in this announcement are expressly qualified in their entirety by this cautionary notice. The reader should not place undue reliance on such forward-looking statements, since the statements speak only as of the date that they are made and FHLBank has no obligation and does not undertake publicly to update, revise or correct any forward-looking statement for any reason.