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  <TITLE> Federal Home Loan Bank of Des Moines (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	December 15, 2006
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  	Federal Home Loan Bank of Des Moines
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Federally Chartered Corporation
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  	000-51999
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  	42-6000149
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	907 Walnut Street, Des Moines, Iowa
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  	&nbsp;
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  	50309
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	515-281-1000
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  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:</FONT>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 7.01 Regulation FD Disclosure.
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  On December 15, 2006 the Board of Directors of the Federal Home Loan Bank of Des Moines (the "Bank") approved a cash dividend of 4.25 percent per annum for the three month period that ended November 30, 2006.   A copy of the dividend announcement sent to members is attached to this report. <br><br>The information contained in the attachment is being furnished and 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.
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  	Item 9.01 Financial Statements and Exhibits.
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  (c) Exhibits<br><br>    <br>Exhibit No. 99.1     <br><br>  Dividend Announcement, dated December 15, 2006, issued by the Bank. <br><br><br><br><br><br><br>
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  	SIGNATURES
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  	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.
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  	Federal Home Loan Bank of Des Moines
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  	&nbsp;&nbsp;
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  <I>
  	December 15, 2006
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  	By:
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  <I>
  	/s/ L. Allyn Dixon, Jr.
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  <I>
  	Name: L. Allyn Dixon, Jr.
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  <I>
  	Title: General Counsel and Corporate Secretary
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	99.1
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  	&nbsp;
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  Member Announcement
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_17066.htm", "description": "LIVE FILING", "secsgml_size_bytes": 10628}]
metadata_filer: {"company-data": {"conformed-name": "Federal Home Loan Bank of Des Moines", "cik": "0001325814", "assigned-sic": "6111", "irs-number": "426000149", "state-of-incorporation": "X1", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-51999", "film-number": "061281333"}, "business-address": {"street1": "907 WALNUT STREET", "city": "DES MOINES", "state": "IA", "zip": "50309", "phone": "515-281-1000"}, "mail-address": {"street1": "907 WALNUT STREET", "city": "DES MOINES", "state": "IA", "zip": "50309"}}
text: Federal Home Loan Bank of Des Moines (Form: 8-K)
  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):
  December 15, 2006
  Federal Home Loan Bank of Des Moines
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Federally Chartered Corporation
  000-51999
  42-6000149
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  907 Walnut Street, Des Moines, Iowa
  50309
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  515-281-1000
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  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:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 7.01 Regulation FD Disclosure.
  On December 15, 2006 the Board of Directors of the Federal Home Loan Bank of Des Moines (the "Bank") approved a cash dividend of 4.25 percent per annum for the three month period that ended November 30, 2006.   A copy of the dividend announcement sent to members is attached to this report.
  The information contained in the attachment is being furnished and 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.
  (c) Exhibits
  Exhibit No. 99.1
  Dividend Announcement, dated December 15, 2006, issued by the Bank.
  Top of the Form
  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 Des Moines
  December 15, 2006
  By:
  /s/ L. Allyn Dixon, Jr.
  Name: L. Allyn Dixon, Jr.
  Title: General Counsel and Corporate Secretary
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  99.1
  Member Announcement