Financial Annual Report 2007

FHLB Des Moines r educed its collateral maintenance levels on one-tofour family mortgage loans, including first and second mortgage loans, and home equity lines of credit. FHLB Des Moines also delivered member value by expanding its collateral to accept certain construction loans and secured business and agri-business lines of credit as eligible collateral. “The expanded collateral categories will benefit FCB in the future and the elimination of the member collateral verification fee is an added member benefit,” remarked Brad. FHLB Des Moines believes delivering the highest level of ser vice is important and our members expect it. BRADLEY K. MEIER PRESIDENT & CEO FIRST COMMERCIAL BANK BLOOMINGTON, MN The elimination of the Member Collateral Veriﬁcation review fees for customary collateral veriﬁcation services is another demonstration of the Bank’s dedication to deliver member value. Tony Acker, Collateral Veriﬁcation Supervisor (standing) Clay Hestdalen, Vice President, Member Services (seated) FHLB Des Moines 73.2 Collateral Pledged TO THE BANK (NET OF APPLICABLE DISCOUNT AND MARGIN FACTORS) AT DECEMBER 31, 2007 billion Collateral categories, collateral maintenance levels and expanded collateral capacity are a part of Tony Acker’s ever yday life. His exper tise helps FHLB Des Moines members protect their investment as FHLB Des Moines stockholders. As a former collateral analyst, Clay Hestdalen knows how collateral can be used to maximize a member’s borrowing capacity. “The new types of collateral allow our members to expand their borrowing capacity, and in turn, this has permitted our members to replace higher cost funds with cheaper advance funds,” said Clay. “FHLB Des Moines collateral process protects all of our members,” said Tony. “Our collateral reviews not only meet our regulatory requirements; they also help our members utilize their pledged collateral to the fullest degree.” 15

Table of Contents Feed for the Digital Edition of Financial Annual Report 2007

Financial Annual Report 2007 Contents Introduction Letter To Our Members Financial Highlights Member Highlight: Chillicothe, MO Member Highlight: Bloomington, MN Statements of Condition Statements of Income Board of Directors

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