DES MOINES, Iowa, Dec. 23, 2005 (PRIMEZONE) -- The Federal Home Loan Bank of Des Moines announced today that it has declared a cash dividend of 2.80 percent per annum for the three month period that ended November 30, 2005. The dividend will be credited to members' demand accounts effective with the close of business on December 28, 2005. For members who are not eAdvantage customers, the specific amount of the payment will be reflected on an Advice of Credit that will be mailed.
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 12 regional Banks that make up the Federal Home Loan Bank System.