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EX-99.1 - MEMBER LETTER - RCAP (10-8-13) - Federal Home Loan Bank of Chicagomemberletter-rcap10x8x13.htm


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): October 8, 2013
 
 
 FEDERAL HOME LOAN BANK OF CHICAGO
(Exact name of registrant as specified in its charter)
 
  
 

Federally chartered corporation
 
000-51401
 
36-6001019
(State or other jurisdiction of
incorporation or organization)
 
(Commission
File Number)
 
(IRS Employer
Identification No.) 
 
 
 
 
 
200 East Randolph Drive
Chicago, Illinois
 
 
 
60601
(Address of principal executive offices)
 
 
 
(Zip Code)
Registrant's telephone number, including area code:
(312) 565-5700
Former name or former address, if changed since last report:
Not Applicable
  
 
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:
 
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
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 October 8, 2013, the Federal Home Loan Bank of Chicago (the “Bank”) announced that it plans to offer, for a limited period of time, certain advances with a reduced activity capital stock requirement, through the Reduced Capitalization Advance Program (“RCAP”). A letter to Bank members describing RCAP is attached as Exhibit 99.1 and incorporated by reference.
 
The information being furnished pursuant to Item 9.01 on this Current Report on Form 8-K 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 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.
 
This Current Report contains forward-looking statements which are based upon the Bank's current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as “anticipates,” “believes,” “expects,” “could,” “plans,” “estimates,” “may,” “should,” “will,” or their negatives or other variations on these terms. The Bank cautions that, by their nature, forward-looking statements involve risk or uncertainty, that actual results could differ materially from those expressed or implied in these forward-looking statements, and that actual events could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, instability in the credit and debt markets, economic conditions (including effects on, among other things, mortgage-backed securities), changes in mortgage interest rates and prepayment speeds on mortgage assets, the Bank’s ability to successfully transition to a new business model and to pay future dividends, the Bank’s ability to meet required conditions to repurchase or redeem excess capital stock from our members, including maintaining compliance with its minimum regulatory capital requirements and determining its financial condition is sound enough to support such repurchases and redemptions, the Bank’s ability to implement the Reduced Capitalization Advance Program and the risk factors set forth in its periodic filings with the Securities and Exchange Commission, which are available on the Bank’s website at www.fhlbc.com. The Bank assumes no obligation to update any forward-looking statements made in this Current Report.
 
Item 9.01 Financial Statements and Exhibits
 
Exhibit No.
 
Description
 
 
 
99.1
 
Letter to Members, dated October 8, 2013






Signature(s)
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 Chicago
 
 
 
 
Date: October 8, 2013
 
 
By: /s/ Peter E. Gutzmer
 
 
 
Name: Peter E. Gutzmer
 
 
 
Title: Executive Vice President, General Counsel &
Corporate Secretary