FHLB Chicago amends bylaws to enhance governance procedures for director removals and committees

Federal Home Loan Bank of Chicago

Board approved amendments effective July 31, 2025 covering member meetings, director removal for cause, and committee structure.
New director removal provision allows board to remove for good cause including legal/ethical violations and neglect of duties.
Board meetings must be held at least six times per year; vacant directorship fill timeline made flexible.
New Article IV codifies committee composition and chair selection; Executive and Governance committee authority defined.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Federal Home Loan Bank of Chicago: The Board adopted amendments to the Bank's bylaws, effective July 31, 2025, covering governance procedures for member meetings, director meetings, board committees, notice provisions, and director removal rules (effective 2025-07-31).

Change: bylaw amendment
Effective: 2025-07-31

Exact text from the filing

On July 31, 2025, the Board of Directors (Board) of the Federal Home Loan Bank of Chicago (the Bank) approved and adopted certain amendments to the Bank’s existing bylaws, which became effective on that same date (the Amended Bylaws).

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Source: SEC EDGAR

accession 0001331451-25-000158

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