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July 30, 2015 1:34 AM ET

Thrifts and Mortgage Finance

Company Overview of Federal Home Loan Bank of Chicago

Company Overview

Federal Home Loan Bank of Chicago provides credit to members principally in the form of secured loans in Illinois and Wisconsin, the United States. It offers various fixed-and adjustable-rate advances, such as fixed-rate, variable-rate, putable, callable, open-line, and fixed amortizing advances. The company also provides deposit products, including demand, overnight, and term deposits; and letters of credit to facilitate residential housing finance and community lending, as well as for liquidity and asset-liability management purposes. In addition, it offers liquidity for home mortgage loans to members approved as participating financial institutions through the Mortgage Partnership Finance...

200 East Randolph Drive

Chicago, IL 60601

United States

408 Employees

Phone:

312-565-5700

Key Executives for Federal Home Loan Bank of Chicago

Chief Executive officer and President
Age: 61
Chief Financial Officer, Principal Accounting Officer and Executive Vice President of Financial Information
Age: 54
Executive Vice President, General Counsel and Corporate Secretary
Age: 61
Head of Mortgage Partnership Finance Program and Executive Vice President
Age: 58
Executive Vice President of Members and Markets
Age: 43
Compensation as of Fiscal Year 2015.

Federal Home Loan Bank of Chicago Key Developments

Federal Home Loan Bank of Chicago Elects Diane M. Aigotti Serve on the Board of Directors of a Member of the Bank

On July 24, 2015, the Federal Home Loan Bank of Chicago received notification from Diane M. Aigotti that she has been elected to serve on the board of directors of a member of the Bank effective as of that date. By regulation, the Bank's independent directors cannot be an officer or director of a Bank member. Therefore, effective July 24, 2015, Ms. Aigotti is no longer eligible to serve as an independent director and will no longer be a member of the Bank's Board of Directors.

Federal Home Loan Bank of Chicago Reports Preliminary and Unaudited Earnings Results for the First Quarter Ended March 31, 2015

Federal Home Loan Bank of Chicago reported preliminary and unaudited earnings results for the first quarter ended March 31, 2015. For the period, the company reported interest income of $321 million compared with $355 million for the same period last year. Net interest income was $130 million compared with $130 million for the same period last year. Net income was $83 million compared with $81 million for the same period last year.

Federal Home Loan Bank of Chicago Approves Amendments to Bylaws

On March 24, 2015, the board of directors of the Federal Home Loan Bank of Chicago approved and adopted certain amendments to the Bank's bylaws, which became effective on that same date. The bank's amended bylaws effect the following substantive changes: Removal of Article IV from the bylaws, which addressed the executive and governance committee of the bank's board of directors, since such provisions have been integrated into a stand-alone executive and governance committee charter; removal of references to the bank providing an annual report, which is a practice no longer observed; clear provisions for the use of telephonic meetings; an integrated notice section for all board and board committee meetings; provisions for electronic voting; emergency bylaws; and general enhancements to consistency across sections of the bylaws.

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