DES MOINES, Iowa, March 24, 2006 (PRIMEZONE) -- The Federal Home Loan Bank of Des Moines announced today that it has declared a cash dividend of 3.00 percent per annum for the three month period that ended February 28, 2006. The dividend will be credited to members' demand accounts effective with the close of business on March 29, 2006. Members may access the amount of their dividend payment through the Bank's eAdvantage system on the Capital Stock Dividend Payments page in the Capital Stock section.
The Federal Home Loan Bank of Des Moines (Bank) is a AAA-rated wholesale bank that provides low-cost short- and long-term funding and community lending to more than 1,200 stockholder commercial banks, saving institutions, credit unions and insurance companies. The Bank is wholly owned by its members and receives no taxpayer funding. The Des Moines Bank serves Iowa, Minnesota, Missouri, North Dakota and South Dakota and is one of twelve regional Banks that make up the Federal Home Loan Bank System.