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): 6/11/2008

Federal Home Loan Bank of Indianapolis

(Exact name of registrant as specified in its charter)

Commission File Number: 000-51404

Federally Chartered Corporation	35-6001443
(State or other jurisdiction of incorporation)	(IRS Employer Identification No.)

8250 Woodfield Crossing Boulevard

Indianapolis, IN 46240

(Address of principal executive offices, including zip code)

(317) 465-0200

(Registrant’s telephone number, including area code)

(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))

Information to be included in the report

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

The Federal Home Loan Bank of Indianapolis (the “Bank”) obtains most of its funds from the sale of debt securities, known as consolidated obligations, in the capital markets. Consolidated obligations, which consist of bonds and discount notes, are by regulation the joint and several obligations of the twelve Federal Home Loan Banks. The Federal Home Loan Banks are regulated by the Federal Housing Finance Board (the “Finance Board”) and the Finance Board regulations authorize the Finance Board to require any Federal Home Loan Bank to repay all or a portion of the principal of or interest on consolidated obligations for which another Federal Home Loan Bank is the primary obligor. Consolidated obligations are sold to the public through the Office of Finance, a joint office of the Federal Home Loan Banks, using authorized security dealers. Consolidated obligations are backed only by the financial resources of the twelve Federal Home Loan Banks and are not guaranteed by the United States government.

Schedule A sets forth all consolidated obligation bonds committed to be issued by the Federal Home Loan Banks, for which the Bank is the primary obligor, on the trade dates indicated. Schedule A also includes any consolidated bonds with a remaining maturity in excess of one year, if any, for which we have assumed the primary repayment obligation from another Federal Home Loan Bank.

We may elect to change our method or reporting information on the issuance or assumption of consolidated obligations at any time. In reviewing the information in this Current Report, please note:

• although consolidated obligations issuance is material to the Bank, we have not made a judgment as to the materiality of any particular consolidated obligation or obligations;

• Schedule A does not address any interest-rate exchange agreements (or other derivative instruments) into which we may enter or have entered as a result of our asset and liability management strategies and that may be associated, directly or indirectly, with one or more of the reported consolidated obligations;

• Schedule A will not enable a reader to track changes in the total consolidated obligation bonds outstanding for which we are the primary obligor because Schedule A generally excludes consolidated obligation discount notes (which have a maturity of one year or less) and does not reflect whether the proceeds from the issuance of the reported consolidated obligations will be used to, among other things, satisfy called or maturing consolidated obligations. We will report the total consolidated obligations outstanding for which we are the primary obligor in our periodic reports filed with the Securities and Exchange Commission;

• the principal amounts reported on Schedule A represent the principal amount of the reported consolidated obligations at par, which may not correspond to the amounts reported in our financial statements prepared in accordance with generally accepted accounting principles contained in our periodic reports filed with the Securities and Exchange Commission, because the par amount does not account for, among other things, any discounts, premiums or concessions; and

• Schedule A does not describe types and styles of consolidated obligations that are not issued on behalf of, or assumed by, the Bank as primary obligor, but that may be issued on behalf of other Federal Home Loan Banks as primary obligors.

Item 9.01. Financial Statements and Exhibits

Schedule A

Signature(s)

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 Indianapolis
Date: June 17, 2008	By:	/s/ LAURA L. DICIOCCIO
		Laura L. DiCioccio Vice President - Funding and Derivatives Manager
Date: June 17, 2008	By:	/s/ KAREN K. COLVILLE
		Karen K. Colville Assistant Vice President - Senior Funding Portfolio Manager

Exhibit Index

Exhibit No.	Description
EX-99.1	Schedule A

EX-99.1

Schedule A

Trade Date	CUSIP	Settlement   Date	Maturity   Date	Next Pay   Date	Call Type1	Call Style2	Rate Type/ Rate  Sub- Type3,4	Next   Call/Amort   Date	Coupon   Percent	FHLBank Par ($)
6/11/2008	3133XBTH8	6/13/2008	6/11/2010	12/11/2008	Non-Callable		Fixed Constant		4.250	$	50,000,000
6/11/2008	3133XBYA7	6/13/2008	6/10/2011	12/10/2008	Non-Callable		Fixed Constant		4.250	$	1,500,000
6/11/2008	3133XRJY7	6/30/2008	6/30/2011	12/30/2008	Optional Principal Redemption	European	Fixed Constant	6/30/2009	4.180	$	15,000,000
6/11/2008	3133XRK58	6/19/2008	6/19/2012	12/19/2008	Optional Principal Redemption	European	Fixed Constant	6/19/2009	4.500	$	20,000,000
6/11/2008	3133XRKS8	6/30/2008	6/30/2011	12/30/2008	Optional Principal Redemption	European	Fixed Constant	6/30/2009	4.200	$	15,000,000
6/11/2008	3133XRKY5	7/1/2008	7/1/2011	1/1/2009	Optional Principal Redemption	American	Fixed Constant	7/1/2009	4.240	$	60,000,000
6/11/2008	3133XRL24	7/1/2008	7/1/2013	1/1/2009	Optional Principal Redemption	American	Fixed Constant	7/1/2009	4.875	$	40,000,000
6/11/2008	3133XRL32	7/1/2008	7/1/2015	1/1/2009	Optional Principal Redemption	American	Fixed Constant	7/1/2009	5.300	$	20,000,000
6/12/2008	3133XBYA7	6/16/2008	6/10/2011	12/10/2008	Non-Callable		Fixed Constant		4.250	$	2,000,000
6/12/2008	3133XRLK4	6/19/2008	12/19/2011	12/19/2008	Optional Principal Redemption	Bermudan	Fixed Constant	12/19/2008	4.500	$	15,000,000
6/12/2008	3133XRM72	6/30/2008	12/30/2009	12/30/2008	Optional Principal Redemption	European	Fixed Constant	12/30/2008	3.550	$	25,000,000
6/12/2008	3133XRM98	6/24/2008	7/24/2009	12/24/2008	Optional Principal Redemption	Bermudan	Fixed Constant	12/24/2008	3.250	$	100,000,000
6/12/2008	3133XRMB3	6/23/2008	6/23/2009	12/23/2008	Optional Principal Redemption	European	Fixed Constant	12/23/2008	3.150	$	50,000,000
6/13/2008	3133XRMF4	6/30/2008	6/30/2011	12/30/2008	Optional Principal Redemption	European	Fixed Constant	6/30/2009	4.400	$	15,000,000

(1) Call/Amortization Type Description:

Optional Principal Redemption Bonds (Callable Bonds) may be redeemed by the FHLBank in whole or in part at its discretion on predetermined call dates, according to the terms of the bond.

Indexed Amortizing Notes (Indexed Principal Redemption Bonds) repay principal based on a predetermined amortization schedule or formula that is linked to the level of a certain index, according to the terms of the bond.

Scheduled Amortizing Notes repay principal based on a predetermined amortization schedule, according to the terms of the bond.

(2) Call Style Description:

Indicates whether the bond is redeemable at the option of the FHLBank, and if so redeemable, the type of redemption provision. The types of redemption provisions are:

American Bonds are redeemable continuously on and after the first redemption date until maturity.

Bermudan Bonds are redeemable on specified recurring dates on and after the first redemption date until maturity.

European Bonds are redeemable on a particular date only.

Canary Bonds are redeemable on specified recurring dates on and after the first redemption date until a specified date prior to maturity.

Multi-European Bonds are redeemable on particular dates only.

(3) Rate Type Description:

Conversion Bonds have coupons that convert from fixed to variable, or variable to fixed, or a mix of capped coupons and non-capped coupons, or from one variable type to another, or from one U.S. or other currency index to another, according to the terms of the bond.

Fixed Bonds generally pay interest at constant fixed rates over the life of the bond, according to the terms of the bond.

Variable Bonds may pay interest at different rates over the life of the bond, according to the terms of the bond.

(4) Rate Sub-Type Description:

Constant Bonds generally pay interest at fixed rates over the life of the bond, according to the terms of the bond.

Step Down bonds generally pay interest at decreasing fixed rates for specified intervals over the life of the bond, according to the terms of the bond.

Step Up bonds generally pay interest at increasing fixed rates for specified intervals over the life of the bond, according to the terms of the bond.

Step Up/Down bonds generally pay interest at various fixed rates for specified intervals over the life of the bond, according to the terms of the bond.

Capped Floater bonds have an interest rate that cannot exceed a stated or calculated ceiling, according to the terms of the bond.

Stepped Floater bonds pay interest based on an increasing spread over an index, according to the terms of the bond.

Range bonds may pay interest at different rates depending upon whether a specified index is inside or outside a specified range, according to the terms of the bond.

Single Index Floater Bonds pay interest at a rate that increases as an index rises and decreases as an index declines, according to the terms of the bond.

Ratchet Floater bonds pay interest subject to increasing floors, according to the terms of the bond, such that subsequent coupons may not be lower than the previous coupon.