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 29, 2013

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

Federally Chartered Corporation	000-51395	25-6001324
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
601 Grant Street, Pittsburgh, Pennsylvania		15219
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: 412-288-3400

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 7.01 Regulation FD Disclosure.

On August 28, 2013 the Board of Directors of the Federal Home Loan Bank of Pittsburgh ("Bank") approved lowering the Loan Stock Purchase Percentage requirement under the Bank’s Capital Plan from 4.60% to 4.00% effective September 17, 2013. As permitted under the Capital Plan, the change in the Loan Stock Purchase Percentage shall be applied retrospectively such that the new Loan Stock Purchase Percentage shall be applied to both advances outstanding as of the effective date and those issued after the effective date. A copy of the Bank’s notice to members regarding this change is attached to this report. The information being furnished pursuant to Item 7.01 of this Current Report on Form 8-K and the information contained in Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibit 99.1 Notice to members dated August 29, 2013 issued by the Federal Home Loan Bank of Pittsburgh

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 Pittsburgh
August 29, 2013	By:	/s/ Kristina K. Williams
		Name: Kristina K. Williams
		Title: Chief Operating Officer and Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99.1	Notice to members dated August 29, 2013 issued by the Federal Home Loan Bank of Pittsburgh

EX-99.1

Products & Services Update

August 29, 2013

TO: All Members

SUBJECT: Reduction in Activity-Based Capital Stock Requirement for Advances

Under the Bank’s Capital Plan, members are required to purchase and maintain a certain level of activity-based capital stock to obtain advances and engage in other business transactions. The amount of this stock requirement can be periodically modified by the Bank, with Board of Directors approval.

In light of the growth in retained earnings over the last several years, the Bank is in a position to reduce the activity-based capital stock requirement from 4.60 percent to 4.00 percent of advances, effective September 17, 2013. This change will reduce the all-in cost of borrowing for members and will apply to both advances outstanding as of the effective date and those issued after the effective date.

As previously announced, the Bank is also now repurchasing all excess capital stock on a monthly basis. If you have any questions about these stock-related updates, please contact our Service Center at 1-800-288-3400, option 2.