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Bulletins

Bulletin No.: 2014-22
September 30, 2014

TO: MEMBERS

SUBJECT: Third Quarter 2014 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 third quarter of 2014 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 second quarter of 2014 plus 12.5 basis points. The third quarter dividend, applied to average capital stock held during the period from April 1, 2014 through June 30, 2014 and based upon operating results for that same period, will be paid on September 30, 2014.

On October 31, 2014, 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.

Sincerely,

Sanjay K. Bhasin
President and Chief Executive Officer