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):November 16, 2009
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 |
(Zip Code) |
(Address of principal executive offices) | | |
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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(d) Election of Directors
On November 16, 2009, the Federal Home Loan Bank of Chicago (the "Bank") announced that the following directors have been elected to its Board of Directors ("Board") as member directors:
(1) Roger L. Lehmann, President, CEO and Chairman of the Board of The Harvard State Bank, Harvard, Illinois was re-elected to serve a one-year term on the Board beginning January 1, 2010 and ending December 31, 2010.
(2) E. David Locke, Chairman, Chief Executive Officer and Director of McFarland State Bank, McFarland, Wisconsin was re-elected to serve a four-year term on the Board beginning January 1, 2010 and ending December 31, 2013.
(3) Steven F. Rosenbaum, President, CEO and Chairman of the Board of Prospect Federal Savings Bank, Worth, Illinois was re-elected to serve a four-year term on the Board beginning January 1, 2010 and ending December 31, 2013.
(4) Russell C. Weyers, President of Johnson Bank, Racine, Wisconsin was newly elected to serve a two-year term on the Board beginning January 1, 2010 and ending December 31, 2011.
The Board has not yet determined on which committees each of these directors will serve beginning in 2010.
The election took place in accordance with the rules governing the election of Federal Home Loan Bank member directors specified in the Federal Home Loan Bank Act ("Bank Act") and the related regulations of the Federal Housing Finance Agency ("FHFA"). For a description of the Bank's director election process, see "Submission of Matters to a Vote of Security Holders" on page 36 in the Bank's 2008 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 20, 2009 ("2008 Form 10-K").
Pursuant to the Bank Act and FHFA regulations, certain of the Bank's directors are required to be an officer or director of a member of the Bank. The Bank is a cooperative, and most of the Bank's business is conducted with its members. In the normal course of business, the Bank extends credit to members whose officers or directors may serve as member directors of the Bank on market terms that are no more favorable to them than the terms of comparable transactions with other members. For further discussion, see "Related Persons and Related Transactions" on page 125 of the Bank's 2008 Form 10-K.
All directors serving on the Bank's Board for 2010 will receive compensation under the Bank's 2010 Board of Directors Compensation Policy which has not yet been approved by the Board.
Item 7.01 Regulation FD Disclosure
Attached as Exhibit 99.1 to this Form 8-K is a copy of the Bank's letter to members mailed November 16, 2009, regarding the results of the election for member directors. The information being furnished pursuant to Item 7.01 on this Current Report on Form 8-K and the information contained in Exhibit 99.1 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.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No. | Description |
99.1 | Letter to Members dated November 16, 2009 |
Signatures
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: November 16, 2009 | | By:/s/ Peter E. Gutzmer |
| | | Peter E. Gutzmer
Executive Vice President, General Counsel and
Corporate Secretary |
