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Bulletin No.: 2012-17
December 11, 2012


SUBJECT: Fourth Quarter 2012 Dividend and Excess Stock Repurchase

The Board of Directors of the Federal Home Loan Bank of Dallas (Bank) has declared a dividend in the form of capital stock for the fourth quarter of 2012 at an annualized rate of 0.375 percent, which equates to the upper end of the Federal Reserve’s target for the federal funds rate for the third quarter of 2012 plus 12.5 basis points. The fourth quarter dividend, applied to average capital stock held during the period from July 1, 2012 through September 30, 2012 and based upon operating results for that same period, will be paid on December 31, 2012.

On January 31, 2013, the Bank will repurchase the portion of members’ excess stock identified as surplus stock as of that date. Surplus stock is currently defined as the amount of capital stock held by a member that exceeds 102.5 percent of its minimum investment requirement. A member’s surplus stock will not be repurchased if the amount of surplus stock is $100,000 or less. A current estimate of your institution’s excess stock subject to repurchase can be found on SecureConnect (at the bottom of the Capital Stock Worksheet, labeled “Eligible for Mandatory Repurchase”), or by calling your Member Sales Officer at 800.442.9841.


Terry Smith
President and Chief Executive Officer


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