Federally chartered corporation of the United States | 48-0561319 | |||||||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||
500 SW Wanamaker Road, Topeka, KS | 66606 | |||||||
(Address of principal executive offices) | (Zip Code) |
Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||
None | N/A | N/A |
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||||||||||||||||
Non-accelerated filer | ☒ | Smaller reporting company | ☐ | |||||||||||||||||
Emerging growth company | ☐ |
Shares outstanding as of | |||||
Class A Stock, par value $100 per share | |||||
Class B Stock, par value $100 per share |
PART I | ||||||||
Item 1. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
Part II | ||||||||
Item 1. | ||||||||
Item 1A. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
Item 5. | ||||||||
Item 6. |
FEDERAL HOME LOAN BANK OF TOPEKA | FEDERAL HOME LOAN BANK OF TOPEKA | FEDERAL HOME LOAN BANK OF TOPEKA | ||||||||||||||
STATEMENTS OF CONDITION - Unaudited | STATEMENTS OF CONDITION - Unaudited | STATEMENTS OF CONDITION - Unaudited | ||||||||||||||
(In thousands, except par value) | (In thousands, except par value) | (In thousands, except par value) | ||||||||||||||
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||
ASSETS | ASSETS | ASSETS | ||||||||||||||
Cash and due from banks | Cash and due from banks | $ | 29,264 | $ | 25,841 | Cash and due from banks | $ | 31,350 | $ | 25,841 | ||||||
Interest-bearing deposits | Interest-bearing deposits | 624,145 | 693,249 | Interest-bearing deposits | 854,271 | 693,249 | ||||||||||
Securities purchased under agreements to resell (Note 9) | Securities purchased under agreements to resell (Note 9) | 2,100,000 | 1,500,000 | Securities purchased under agreements to resell (Note 9) | 2,250,000 | 1,500,000 | ||||||||||
Federal funds sold | Federal funds sold | 3,100,000 | 3,360,000 | Federal funds sold | 5,360,000 | 3,360,000 | ||||||||||
Investment securities: | Investment securities: | Investment securities: | ||||||||||||||
Trading securities (Note 3) | Trading securities (Note 3) | 2,775,818 | 2,339,955 | Trading securities (Note 3) | 2,360,237 | 2,339,955 | ||||||||||
Available-for-sale securities, amortized cost of $7,812,873 and $7,644,496 (Note 3) | 7,846,335 | 7,719,185 | ||||||||||||||
Held-to-maturity securities, fair value of $423,695 and $450,771 (Note 3) | 421,583 | 446,185 | ||||||||||||||
Available-for-sale securities, amortized cost of $8,164,934 and $7,644,496 (Note 3) | Available-for-sale securities, amortized cost of $8,164,934 and $7,644,496 (Note 3) | 8,143,831 | 7,719,185 | |||||||||||||
Held-to-maturity securities, fair value of $399,737 and $450,771 (Note 3) | Held-to-maturity securities, fair value of $399,737 and $450,771 (Note 3) | 399,308 | 446,185 | |||||||||||||
Total investment securities | Total investment securities | 11,043,736 | 10,505,325 | Total investment securities | 10,903,376 | 10,505,325 | ||||||||||
Advances (Note 4) | Advances (Note 4) | 25,487,576 | 23,484,288 | Advances (Note 4) | 29,522,840 | 23,484,288 | ||||||||||
Mortgage loans held for portfolio, net of allowance for credit losses of $5,038 and $5,317 (Note 5) | 8,021,949 | 8,135,046 | ||||||||||||||
Mortgage loans held for portfolio, net of allowance for credit losses of $5,202 and $5,317 (Note 5) | Mortgage loans held for portfolio, net of allowance for credit losses of $5,202 and $5,317 (Note 5) | 8,018,930 | 8,135,046 | |||||||||||||
Overnight loans to other FHLBanks | Overnight loans to other FHLBanks | 200,000 | — | |||||||||||||
Accrued interest receivable | Accrued interest receivable | 79,890 | 78,032 | Accrued interest receivable | 96,425 | 78,032 | ||||||||||
Derivative assets, net (Notes 6, 9) | Derivative assets, net (Notes 6, 9) | 175,645 | 156,926 | Derivative assets, net (Notes 6, 9) | 181,849 | 156,926 | ||||||||||
Other assets | Other assets | 80,487 | 82,531 | Other assets | 80,259 | 82,531 | ||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 50,742,692 | $ | 48,021,238 | TOTAL ASSETS | $ | 57,499,300 | $ | 48,021,238 | ||||||
LIABILITIES | LIABILITIES | LIABILITIES | ||||||||||||||
Deposits (Note 7) | Deposits (Note 7) | $ | 936,691 | $ | 946,207 | Deposits (Note 7) | $ | 781,845 | $ | 946,207 | ||||||
Consolidated obligations, net: | Consolidated obligations, net: | Consolidated obligations, net: | ||||||||||||||
Discount notes (Note 8) | Discount notes (Note 8) | 7,843,651 | 6,568,989 | Discount notes (Note 8) | 20,076,331 | 6,568,989 | ||||||||||
Bonds (Note 8) | Bonds (Note 8) | 38,960,721 | 37,630,609 | Bonds (Note 8) | 32,928,146 | 37,630,609 | ||||||||||
Total consolidated obligations, net | Total consolidated obligations, net | 46,804,372 | 44,199,598 | Total consolidated obligations, net | 53,004,477 | 44,199,598 | ||||||||||
Overnight loans from other FHLBanks | Overnight loans from other FHLBanks | 500,000 | — | |||||||||||||
Mandatorily redeemable capital stock (Note 10) | Mandatorily redeemable capital stock (Note 10) | 559 | 582 | Mandatorily redeemable capital stock (Note 10) | 537 | 582 | ||||||||||
Accrued interest payable | Accrued interest payable | 48,820 | 42,753 | Accrued interest payable | 74,572 | 42,753 | ||||||||||
Affordable Housing Program payable | Affordable Housing Program payable | 45,105 | 42,224 | Affordable Housing Program payable | 45,801 | 42,224 | ||||||||||
Derivative liabilities, net (Notes 6, 9) | Derivative liabilities, net (Notes 6, 9) | 2,494 | 4,580 | Derivative liabilities, net (Notes 6, 9) | 5,572 | 4,580 | ||||||||||
Other liabilities | Other liabilities | 126,771 | 71,028 | Other liabilities | 91,730 | 71,028 | ||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 47,964,812 | 45,306,972 | TOTAL LIABILITIES | 54,504,534 | 45,306,972 | ||||||||||
Commitments and contingencies (Note 13) | Commitments and contingencies (Note 13) | 0 | Commitments and contingencies (Note 13) | 0 |
FEDERAL HOME LOAN BANK OF TOPEKA | FEDERAL HOME LOAN BANK OF TOPEKA | FEDERAL HOME LOAN BANK OF TOPEKA | ||||||||||||||
STATEMENTS OF CONDITION - Unaudited | STATEMENTS OF CONDITION - Unaudited | STATEMENTS OF CONDITION - Unaudited | ||||||||||||||
(In thousands, except par value) | (In thousands, except par value) | (In thousands, except par value) | ||||||||||||||
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||
CAPITAL | CAPITAL | CAPITAL | ||||||||||||||
Capital stock outstanding - putable: | Capital stock outstanding - putable: | Capital stock outstanding - putable: | ||||||||||||||
Class A ($100 par value; 2,202 and 2,342 shares issued and outstanding) (Note 10) | $ | 220,222 | $ | 234,190 | ||||||||||||
Class B ($100 par value; 13,539 and 12,651 shares issued and outstanding) (Note 10) | 1,353,935 | 1,265,111 | ||||||||||||||
Class A ($100 par value; 2,716 and 2,342 shares issued and outstanding) (Note 10) | Class A ($100 par value; 2,716 and 2,342 shares issued and outstanding) (Note 10) | $ | 271,621 | $ | 234,190 | |||||||||||
Class B ($100 par value; 15,494 and 12,651 shares issued and outstanding) (Note 10) | Class B ($100 par value; 15,494 and 12,651 shares issued and outstanding) (Note 10) | 1,549,395 | 1,265,111 | |||||||||||||
Total capital stock | Total capital stock | 1,574,157 | 1,499,301 | Total capital stock | 1,821,016 | 1,499,301 | ||||||||||
Retained earnings: | Retained earnings: | Retained earnings: | ||||||||||||||
Unrestricted | Unrestricted | 872,252 | 852,408 | Unrestricted | 886,710 | 852,408 | ||||||||||
Restricted | Restricted | 300,321 | 290,242 | Restricted | 310,393 | 290,242 | ||||||||||
Total retained earnings | Total retained earnings | 1,172,573 | 1,142,650 | Total retained earnings | 1,197,103 | 1,142,650 | ||||||||||
Accumulated other comprehensive income (loss) (Note 11) | Accumulated other comprehensive income (loss) (Note 11) | 31,150 | 72,315 | Accumulated other comprehensive income (loss) (Note 11) | (23,353) | 72,315 | ||||||||||
TOTAL CAPITAL | TOTAL CAPITAL | 2,777,880 | 2,714,266 | TOTAL CAPITAL | 2,994,766 | 2,714,266 | ||||||||||
TOTAL LIABILITIES AND CAPITAL | TOTAL LIABILITIES AND CAPITAL | $ | 50,742,692 | $ | 48,021,238 | TOTAL LIABILITIES AND CAPITAL | $ | 57,499,300 | $ | 48,021,238 |
FEDERAL HOME LOAN BANK OF TOPEKA | FEDERAL HOME LOAN BANK OF TOPEKA | FEDERAL HOME LOAN BANK OF TOPEKA | ||||||||||||||||||||||||||||||||
STATEMENTS OF INCOME - Unaudited | STATEMENTS OF INCOME - Unaudited | STATEMENTS OF INCOME - Unaudited | ||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||
03/31/2022 | 03/31/2021 | 06/30/2022 | 06/30/2021 | 06/30/2022 | 06/30/2021 | |||||||||||||||||||||||||||||
INTEREST INCOME: | INTEREST INCOME: | INTEREST INCOME: | ||||||||||||||||||||||||||||||||
Interest-bearing deposits | Interest-bearing deposits | $ | 376 | $ | 269 | Interest-bearing deposits | $ | 2,367 | $ | 215 | $ | 2,743 | $ | 484 | ||||||||||||||||||||
Securities purchased under agreements to resell | Securities purchased under agreements to resell | 536 | 489 | Securities purchased under agreements to resell | 5,251 | 401 | 5,787 | 890 | ||||||||||||||||||||||||||
Federal funds sold | Federal funds sold | 794 | 520 | Federal funds sold | 6,360 | 460 | 7,154 | 980 | ||||||||||||||||||||||||||
Trading securities | Trading securities | 13,883 | 16,385 | Trading securities | 16,348 | 16,483 | 30,231 | 32,868 | ||||||||||||||||||||||||||
Available-for-sale securities | Available-for-sale securities | 14,784 | 11,477 | Available-for-sale securities | 25,960 | 7,411 | 40,744 | 18,888 | ||||||||||||||||||||||||||
Held-to-maturity securities | Held-to-maturity securities | 1,053 | 3,938 | Held-to-maturity securities | 1,450 | 1,847 | 2,503 | 5,785 | ||||||||||||||||||||||||||
Advances | Advances | 37,881 | 35,443 | Advances | 77,874 | 30,309 | 115,755 | 65,752 | ||||||||||||||||||||||||||
Mortgage loans held for portfolio | Mortgage loans held for portfolio | 54,554 | 53,478 | Mortgage loans held for portfolio | 56,383 | 51,443 | 110,937 | 104,921 | ||||||||||||||||||||||||||
Other | Other | 197 | 257 | Other | 295 | 242 | 492 | 499 | ||||||||||||||||||||||||||
Total interest income | Total interest income | 124,058 | 122,256 | Total interest income | 192,288 | 108,811 | 316,346 | 231,067 | ||||||||||||||||||||||||||
INTEREST EXPENSE: | INTEREST EXPENSE: | INTEREST EXPENSE: | ||||||||||||||||||||||||||||||||
Deposits | Deposits | 126 | 108 | Deposits | 997 | 103 | 1,123 | 211 | ||||||||||||||||||||||||||
Consolidated obligations: | Consolidated obligations: | Consolidated obligations: | ||||||||||||||||||||||||||||||||
Discount notes | Discount notes | 2,036 | 1,998 | Discount notes | 27,998 | 1,069 | 30,034 | 3,067 | ||||||||||||||||||||||||||
Bonds | Bonds | 36,556 | 46,515 | Bonds | 79,776 | 40,151 | 116,332 | 86,666 | ||||||||||||||||||||||||||
Mandatorily redeemable capital stock | Mandatorily redeemable capital stock | 1 | 9 | Mandatorily redeemable capital stock | 1 | 9 | 2 | 18 | ||||||||||||||||||||||||||
Other | Other | 264 | 257 | Other | 290 | 249 | 554 | 506 | ||||||||||||||||||||||||||
Total interest expense | Total interest expense | 38,983 | 48,887 | Total interest expense | 109,062 | 41,581 | 148,045 | 90,468 | ||||||||||||||||||||||||||
NET INTEREST INCOME | NET INTEREST INCOME | 85,075 | 73,369 | NET INTEREST INCOME | 83,226 | 67,230 | 168,301 | 140,599 | ||||||||||||||||||||||||||
Provision (reversal) for credit losses on mortgage loans | Provision (reversal) for credit losses on mortgage loans | (307) | (14) | Provision (reversal) for credit losses on mortgage loans | (108) | 2,312 | (415) | 2,298 | ||||||||||||||||||||||||||
NET INTEREST INCOME AFTER LOAN LOSS PROVISION (REVERSAL) | NET INTEREST INCOME AFTER LOAN LOSS PROVISION (REVERSAL) | 85,382 | 73,383 | NET INTEREST INCOME AFTER LOAN LOSS PROVISION (REVERSAL) | 83,334 | 64,918 | 168,716 | 138,301 | ||||||||||||||||||||||||||
OTHER INCOME (LOSS): | OTHER INCOME (LOSS): | OTHER INCOME (LOSS): | ||||||||||||||||||||||||||||||||
Net gains (losses) on trading securities | Net gains (losses) on trading securities | (59,488) | (26,747) | Net gains (losses) on trading securities | (23,339) | (13,411) | (82,827) | (40,158) | ||||||||||||||||||||||||||
Net gains (losses) on derivatives | Net gains (losses) on derivatives | 46,563 | 17,581 | Net gains (losses) on derivatives | 12,814 | (15) | 59,377 | 17,566 | ||||||||||||||||||||||||||
Standby bond purchase agreement commitment fees | Standby bond purchase agreement commitment fees | 625 | 621 | Standby bond purchase agreement commitment fees | 651 | 630 | 1,276 | 1,251 | ||||||||||||||||||||||||||
Letters of credit fees | Letters of credit fees | 1,570 | 1,683 | Letters of credit fees | 1,551 | 1,588 | 3,121 | 3,271 | ||||||||||||||||||||||||||
Other | Other | 1,221 | 970 | Other | 671 | 1,062 | 1,892 | 2,032 | ||||||||||||||||||||||||||
Total other income (loss) | Total other income (loss) | (9,509) | (5,892) | Total other income (loss) | (7,652) | (10,146) | (17,161) | (16,038) |
FEDERAL HOME LOAN BANK OF TOPEKA | FEDERAL HOME LOAN BANK OF TOPEKA | FEDERAL HOME LOAN BANK OF TOPEKA | ||||||||||||||||||||||||||||||||
STATEMENTS OF INCOME - Unaudited | STATEMENTS OF INCOME - Unaudited | STATEMENTS OF INCOME - Unaudited | ||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||
03/31/2022 | 03/31/2021 | 06/30/2022 | 06/30/2021 | 06/30/2022 | 06/30/2021 | |||||||||||||||||||||||||||||
OTHER EXPENSES: | OTHER EXPENSES: | OTHER EXPENSES: | ||||||||||||||||||||||||||||||||
Compensation and benefits | Compensation and benefits | $ | 10,558 | $ | 10,293 | Compensation and benefits | $ | 10,750 | $ | 9,458 | $ | 21,308 | $ | 19,751 | ||||||||||||||||||||
Other operating | Other operating | 5,003 | 4,278 | Other operating | 4,861 | 4,768 | 9,864 | 9,046 | ||||||||||||||||||||||||||
Federal Housing Finance Agency | Federal Housing Finance Agency | 1,413 | 1,110 | Federal Housing Finance Agency | 1,327 | 1,109 | 2,740 | 2,219 | ||||||||||||||||||||||||||
Office of Finance | Office of Finance | 1,224 | 1,171 | Office of Finance | 919 | 923 | 2,143 | 2,094 | ||||||||||||||||||||||||||
Mortgage loans transaction service fees | Mortgage loans transaction service fees | 1,521 | 1,656 | Mortgage loans transaction service fees | 1,522 | 1,593 | 3,043 | 3,249 | ||||||||||||||||||||||||||
Other | Other | 159 | 197 | Other | 346 | 294 | 505 | 491 | ||||||||||||||||||||||||||
Total other expenses | Total other expenses | 19,878 | 18,705 | Total other expenses | 19,725 | 18,145 | 39,603 | 36,850 | ||||||||||||||||||||||||||
INCOME BEFORE ASSESSMENTS | INCOME BEFORE ASSESSMENTS | 55,995 | 48,786 | INCOME BEFORE ASSESSMENTS | 55,957 | 36,627 | 111,952 | 85,413 | ||||||||||||||||||||||||||
Affordable Housing Program | Affordable Housing Program | 5,600 | 4,880 | Affordable Housing Program | 5,596 | 3,663 | 11,196 | 8,543 | ||||||||||||||||||||||||||
NET INCOME | NET INCOME | $ | 50,395 | $ | 43,906 | NET INCOME | $ | 50,361 | $ | 32,964 | $ | 100,756 | $ | 76,870 |
FEDERAL HOME LOAN BANK OF TOPEKA | FEDERAL HOME LOAN BANK OF TOPEKA | FEDERAL HOME LOAN BANK OF TOPEKA | ||||||||||||||||||||||||||||||||
STATEMENTS OF COMPREHENSIVE INCOME - Unaudited | STATEMENTS OF COMPREHENSIVE INCOME - Unaudited | STATEMENTS OF COMPREHENSIVE INCOME - Unaudited | ||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||
03/31/2022 | 03/31/2021 | 06/30/2022 | 06/30/2021 | 06/30/2022 | 06/30/2021 | |||||||||||||||||||||||||||||
Net income | Net income | $ | 50,395 | $ | 43,906 | Net income | $ | 50,361 | $ | 32,964 | $ | 100,756 | $ | 76,870 | ||||||||||||||||||||
Other comprehensive income (loss): | Other comprehensive income (loss): | Other comprehensive income (loss): | ||||||||||||||||||||||||||||||||
Net unrealized gains (losses) on available-for-sale securities | Net unrealized gains (losses) on available-for-sale securities | (41,227) | 29,234 | Net unrealized gains (losses) on available-for-sale securities | (54,565) | 21,852 | (95,792) | 51,086 | ||||||||||||||||||||||||||
Defined benefit pension plan | Defined benefit pension plan | 62 | 72 | Defined benefit pension plan | 62 | 78 | 124 | 150 | ||||||||||||||||||||||||||
Total other comprehensive income (loss) | Total other comprehensive income (loss) | (41,165) | 29,306 | Total other comprehensive income (loss) | (54,503) | 21,930 | (95,668) | 51,236 | ||||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME (LOSS) | TOTAL COMPREHENSIVE INCOME (LOSS) | $ | 9,230 | $ | 73,212 | TOTAL COMPREHENSIVE INCOME (LOSS) | $ | (4,142) | $ | 54,894 | $ | 5,088 | $ | 128,106 |
FEDERAL HOME LOAN BANK OF TOPEKA | FEDERAL HOME LOAN BANK OF TOPEKA | FEDERAL HOME LOAN BANK OF TOPEKA | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
STATEMENTS OF CAPITAL - Unaudited | STATEMENTS OF CAPITAL - Unaudited | STATEMENTS OF CAPITAL - Unaudited | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Stock1 | Retained Earnings | Accumulated | Total Capital | Capital Stock1 | Retained Earnings | Accumulated | Total Capital | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | Other | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | Class B | Total | Comprehensive | Class A | Class B | Total | Comprehensive | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares | Par Value | Shares | Par Value | Shares | Par Value | Unrestricted | Restricted | Total | Income (Loss) | Shares | Par Value | Shares | Par Value | Shares | Par Value | Unrestricted | Restricted | Total | Income (Loss) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2020 | 4,122 | 412,225 | 11,618 | 1,161,779 | 15,740 | 1,574,004 | 793,331 | 258,124 | 1,051,455 | 42,308 | 2,667,767 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at March 31, 2021 | Balance at March 31, 2021 | 3,762 | $ | 376,196 | 11,642 | $ | 1,164,169 | 15,404 | $ | 1,540,365 | $ | 812,169 | $ | 266,905 | $ | 1,079,074 | $ | 71,614 | $ | 2,691,053 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income | Comprehensive income | 35,125 | 8,781 | 43,906 | 29,306 | 73,212 | Comprehensive income | 26,371 | 6,593 | 32,964 | 21,930 | 54,894 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of capital stock | Proceeds from issuance of capital stock | 5 | 500 | 4,614 | 461,427 | 4,619 | 461,927 | 461,927 | Proceeds from issuance of capital stock | 30 | 2,971 | 3,553 | 355,262 | 3,583 | 358,233 | 358,233 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repurchase/redemption of capital stock | Repurchase/redemption of capital stock | (1,331) | (133,115) | (204) | (20,431) | (1,535) | (153,546) | (153,546) | Repurchase/redemption of capital stock | (2,207) | (220,659) | (111) | (11,076) | (2,318) | (231,735) | (231,735) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net reclassification of shares to mandatorily redeemable capital stock | Net reclassification of shares to mandatorily redeemable capital stock | (3,156) | (315,648) | (426) | (42,595) | (3,582) | (358,243) | (358,243) | Net reclassification of shares to mandatorily redeemable capital stock | (1,504) | (150,322) | (755) | (75,487) | (2,259) | (225,809) | (225,809) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net transfer of shares between Class A and Class B | Net transfer of shares between Class A and Class B | 4,122 | 412,234 | (4,122) | (412,234) | — | — | — | Net transfer of shares between Class A and Class B | 3,198 | 319,699 | (3,198) | (319,699) | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends on capital stock (Class A - 0.3%, Class B - 5.2%): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends on capital stock (Class A - 0.3%, Class B - 5.3%): | Dividends on capital stock (Class A - 0.3%, Class B - 5.3%): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash payment | Cash payment | (64) | (64) | (64) | Cash payment | (65) | (65) | (65) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued | Stock issued | 162 | 16,223 | 162 | 16,223 | (16,223) | (16,223) | — | Stock issued | 157 | 15,682 | 157 | 15,682 | (15,682) | (15,682) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at March 31, 2021 | 3,762 | $ | 376,196 | 11,642 | $ | 1,164,169 | 15,404 | $ | 1,540,365 | $ | 812,169 | $ | 266,905 | $ | 1,079,074 | $ | 71,614 | $ | 2,691,053 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at June 30, 2021 | Balance at June 30, 2021 | 3,279 | $ | 327,885 | 11,288 | $ | 1,128,851 | 14,567 | $ | 1,456,736 | $ | 822,793 | $ | 273,498 | $ | 1,096,291 | $ | 93,544 | $ | 2,646,571 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Stock1 | Retained Earnings | Accumulated | Total Capital | Capital Stock1 | Retained Earnings | Accumulated | Total Capital | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | Other | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | Class B | Total | Comprehensive | Class A | Class B | Total | Comprehensive | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares | Par Value | Shares | Par Value | Shares | Par Value | Unrestricted | Restricted | Total | Income (Loss) | Shares | Par Value | Shares | Par Value | Shares | Par Value | Unrestricted | Restricted | Total | Income (Loss) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2021 | 2,342 | 234,190 | 12,651 | 1,265,111 | 14,993 | 1,499,301 | 852,408 | 290,242 | 1,142,650 | 72,315 | 2,714,266 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at March 31, 2022 | Balance at March 31, 2022 | 2,202 | $ | 220,222 | 13,539 | $ | 1,353,935 | 15,741 | $ | 1,574,157 | $ | 872,252 | $ | 300,321 | $ | 1,172,573 | $ | 31,150 | $ | 2,777,880 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income | Comprehensive income | 40,316 | 10,079 | 50,395 | (41,165) | 9,230 | Comprehensive income | 40,289 | 10,072 | 50,361 | (54,503) | (4,142) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of capital stock | Proceeds from issuance of capital stock | — | — | 6,387 | 638,709 | 6,387 | 638,709 | 638,709 | Proceeds from issuance of capital stock | 20 | 2,019 | 9,144 | 914,414 | 9,164 | 916,433 | 916,433 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repurchase/redemption of capital stock | Repurchase/redemption of capital stock | (3,607) | (360,704) | (605) | (60,520) | (4,212) | (421,224) | (421,224) | Repurchase/redemption of capital stock | (3,297) | (329,700) | (703) | (70,329) | (4,000) | (400,029) | (400,029) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net reclassification of shares to mandatorily redeemable capital stock | Net reclassification of shares to mandatorily redeemable capital stock | (604) | (60,397) | (1,027) | (102,650) | (1,631) | (163,047) | (163,047) | Net reclassification of shares to mandatorily redeemable capital stock | (2,024) | (202,423) | (928) | (92,893) | (2,952) | (295,316) | (295,316) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net transfer of shares between Class A and Class B | Net transfer of shares between Class A and Class B | 4,071 | 407,133 | (4,071) | (407,133) | — | — | — | Net transfer of shares between Class A and Class B | 5,815 | 581,503 | (5,815) | (581,503) | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends on capital stock (Class A - 0.3%, Class B - 5.8%): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends on capital stock (Class A - 1.0%, Class B - 6.5%): | Dividends on capital stock (Class A - 1.0%, Class B - 6.5%): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash payment | Cash payment | (54) | (54) | (54) | Cash payment | (60) | (60) | (60) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued | Stock issued | 204 | 20,418 | 204 | 20,418 | (20,418) | (20,418) | — | Stock issued | 257 | 25,771 | 257 | 25,771 | (25,771) | (25,771) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at March 31, 2022 | 2,202 | $ | 220,222 | 13,539 | $ | 1,353,935 | 15,741 | $ | 1,574,157 | $ | 872,252 | $ | 300,321 | $ | 1,172,573 | $ | 31,150 | $ | 2,777,880 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at June 30, 2022 | Balance at June 30, 2022 | 2,716 | $ | 271,621 | 15,494 | $ | 1,549,395 | 18,210 | $ | 1,821,016 | $ | 886,710 | $ | 310,393 | $ | 1,197,103 | $ | (23,353) | $ | 2,994,766 |
FEDERAL HOME LOAN BANK OF TOPEKA | |||||||||||
STATEMENTS OF CASH FLOWS - Unaudited | |||||||||||
(In thousands) | |||||||||||
Three Months Ended | |||||||||||
03/31/2022 | 03/31/2021 | ||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||
Net income | $ | 50,395 | $ | 43,906 | |||||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||||||||
Depreciation and amortization: | |||||||||||
Premiums and discounts on consolidated obligations, net | (1,789) | (4,487) | |||||||||
Concessions on consolidated obligations | 964 | 2,220 | |||||||||
Premiums and discounts on investments, net | 1,673 | 4,713 | |||||||||
Premiums, discounts and commitment fees on advances, net | (1,113) | (1,264) | |||||||||
Premiums, discounts and deferred loan costs on mortgage loans, net | 6,527 | 16,696 | |||||||||
Fair value adjustments on hedged assets or liabilities | 388 | 720 | |||||||||
Premises, software and equipment | 808 | 823 | |||||||||
Other | 62 | 72 | |||||||||
Provision (reversal) for credit losses on mortgage loans | (307) | (14) | |||||||||
Non-cash interest on mandatorily redeemable capital stock | — | 8 | |||||||||
Net realized (gains) losses on disposal of premises, software and equipment | 1 | — | |||||||||
Other adjustments, net | (162) | (100) | |||||||||
Net (gains) losses on trading securities | 59,488 | 26,747 | |||||||||
Net change in derivatives and hedging activities | 303,292 | 160,428 | |||||||||
(Increase) decrease in accrued interest receivable | (1,684) | 4,782 | |||||||||
Change in net accrued interest included in derivative assets | (19,212) | (6,129) | |||||||||
(Increase) decrease in other assets | 904 | 968 | |||||||||
Increase (decrease) in accrued interest payable | 5,892 | (496) | |||||||||
Change in net accrued interest included in derivative liabilities | 6,042 | (2,340) | |||||||||
Increase (decrease) in Affordable Housing Program liability | 2,881 | 1,755 | |||||||||
Increase (decrease) in other liabilities | (5,694) | (4,263) | |||||||||
Total adjustments | 358,961 | 200,839 | |||||||||
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 409,356 | 244,745 | |||||||||
FEDERAL HOME LOAN BANK OF TOPEKA | |||||||||||||||||||||||||||||||||||
STATEMENTS OF CAPITAL - Unaudited | |||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Capital Stock1 | Retained Earnings | Accumulated | Total Capital | ||||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||||
Class A | Class B | Total | Comprehensive | ||||||||||||||||||||||||||||||||
Shares | Par Value | Shares | Par Value | Shares | Par Value | Unrestricted | Restricted | Total | Income (Loss) | ||||||||||||||||||||||||||
Balance at December 31, 2020 | 4,122 | $ | 412,225 | 11,618 | $ | 1,161,779 | 15,740 | $ | 1,574,004 | $ | 793,331 | $ | 258,124 | $ | 1,051,455 | $ | 42,308 | $ | 2,667,767 | ||||||||||||||||
Comprehensive income | 61,496 | 15,374 | 76,870 | 51,236 | 128,106 | ||||||||||||||||||||||||||||||
Proceeds from issuance of capital stock | 35 | 3,471 | 8,167 | 816,689 | 8,202 | 820,160 | 820,160 | ||||||||||||||||||||||||||||
Repurchase/redemption of capital stock | (3,538) | (353,774) | (315) | (31,507) | (3,853) | (385,281) | (385,281) | ||||||||||||||||||||||||||||
Net reclassification of shares to mandatorily redeemable capital stock | (4,660) | (465,970) | (1,181) | (118,082) | (5,841) | (584,052) | (584,052) | ||||||||||||||||||||||||||||
Net transfer of shares between Class A and Class B | 7,320 | 731,933 | (7,320) | (731,933) | — | — | — | ||||||||||||||||||||||||||||
Dividends on capital stock (Class A - 0.3%, Class B - 5.3%): | |||||||||||||||||||||||||||||||||||
Cash payment | (129) | (129) | (129) | ||||||||||||||||||||||||||||||||
Stock issued | 319 | 31,905 | 319 | 31,905 | (31,905) | (31,905) | — | ||||||||||||||||||||||||||||
Balance at June 30, 2021 | 3,279 | $ | 327,885 | 11,288 | $ | 1,128,851 | 14,567 | $ | 1,456,736 | $ | 822,793 | $ | 273,498 | $ | 1,096,291 | $ | 93,544 | $ | 2,646,571 | ||||||||||||||||
Capital Stock1 | Retained Earnings | Accumulated | Total Capital | ||||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||||
Class A | Class B | Total | Comprehensive | ||||||||||||||||||||||||||||||||
Shares | Par Value | Shares | Par Value | Shares | Par Value | Unrestricted | Restricted | Total | Income (Loss) | ||||||||||||||||||||||||||
Balance at December 31, 2021 | 2,342 | $ | 234,190 | 12,651 | $ | 1,265,111 | 14,993 | $ | 1,499,301 | $ | 852,408 | $ | 290,242 | $ | 1,142,650 | $ | 72,315 | $ | 2,714,266 | ||||||||||||||||
Comprehensive income | 80,605 | 20,151 | 100,756 | (95,668) | 5,088 | ||||||||||||||||||||||||||||||
Proceeds from issuance of capital stock | 20 | 2,019 | 15,531 | 1,553,123 | 15,551 | 1,555,142 | 1,555,142 | ||||||||||||||||||||||||||||
Repurchase/redemption of capital stock | (6,904) | (690,404) | (1,308) | (130,849) | (8,212) | (821,253) | (821,253) | ||||||||||||||||||||||||||||
Net reclassification of shares to mandatorily redeemable capital stock | (2,628) | (262,820) | (1,955) | (195,543) | (4,583) | (458,363) | (458,363) | ||||||||||||||||||||||||||||
Net transfer of shares between Class A and Class B | 9,886 | 988,636 | (9,886) | (988,636) | — | — | — | ||||||||||||||||||||||||||||
Dividends on capital stock (Class A - 0.6%, Class B - 6.1%): | |||||||||||||||||||||||||||||||||||
Cash payment | (114) | (114) | (114) | ||||||||||||||||||||||||||||||||
Stock issued | 461 | 46,189 | 461 | 46,189 | (46,189) | (46,189) | — | ||||||||||||||||||||||||||||
Balance at June 30, 2022 | 2,716 | $ | 271,621 | 15,494 | $ | 1,549,395 | 18,210 | $ | 1,821,016 | $ | 886,710 | $ | 310,393 | $ | 1,197,103 | $ | (23,353) | $ | 2,994,766 |
FEDERAL HOME LOAN BANK OF TOPEKA | |||||||||||
STATEMENTS OF CASH FLOWS - Unaudited | |||||||||||
(In thousands) | |||||||||||
Three Months Ended | |||||||||||
03/31/2022 | 03/31/2021 | ||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||
Net (increase) decrease in interest-bearing deposits | $ | (72,681) | $ | 299,341 | |||||||
Net (increase) decrease in securities purchased under resale agreements | (600,000) | 900,000 | |||||||||
Net (increase) decrease in Federal funds sold | 260,000 | (2,125,000) | |||||||||
Proceeds from maturities of and principal repayments on trading securities | 404,650 | 4,665 | |||||||||
Purchases of trading securities | (900,000) | (675,000) | |||||||||
Proceeds from maturities of and principal repayments on available-for-sale securities | 351,543 | 503,950 | |||||||||
Purchases of available-for-sale securities | (697,435) | (249,922) | |||||||||
Proceeds from maturities of and principal repayments on held-to-maturity securities | 24,646 | 181,169 | |||||||||
Advances repaid | 159,083,449 | 134,393,793 | |||||||||
Advances originated | (161,291,476) | (134,365,546) | |||||||||
Principal collected on mortgage loans | 390,204 | 1,060,598 | |||||||||
Purchases of mortgage loans | (286,235) | (542,022) | |||||||||
Proceeds from sale of foreclosed assets | 70 | 47 | |||||||||
Other investing activities | 930 | 870 | |||||||||
Purchases of premises, software and equipment | (133) | (278) | |||||||||
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | (3,332,468) | (613,335) | |||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||
Net increase (decrease) in deposits | (1,513) | 33,284 | |||||||||
Net proceeds from issuance of consolidated obligations: | |||||||||||
Discount notes | 39,888,155 | 53,566,824 | |||||||||
Bonds | 12,747,640 | 9,331,771 | |||||||||
Payments for maturing and retired consolidated obligations: | |||||||||||
Discount notes | (38,614,004) | (54,376,409) | |||||||||
Bonds | (11,141,400) | (12,635,100) | |||||||||
Net interest payments received (paid) for financing derivatives | (6,704) | (7,086) | |||||||||
Proceeds from issuance of capital stock | 638,709 | 461,927 | |||||||||
Payments for repurchase/redemption of capital stock | (421,224) | (153,546) | |||||||||
Payments for repurchase of mandatorily redeemable capital stock | (163,070) | (358,290) | |||||||||
Cash dividends paid | (54) | (64) | |||||||||
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 2,926,535 | (4,136,689) | |||||||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 3,423 | (4,505,279) | |||||||||
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 25,841 | 4,570,415 | |||||||||
CASH AND CASH EQUIVALENTS AT END OF PERIOD | $ | 29,264 | $ | 65,136 | |||||||
Supplemental disclosures: | |||||||||||
Interest paid | $ | 44,786 | $ | 53,406 | |||||||
Affordable Housing Program payments | $ | 2,764 | $ | 3,135 | |||||||
Net transfers of mortgage loans to other assets | $ | 67 | $ | 183 | |||||||
FEDERAL HOME LOAN BANK OF TOPEKA | |||||||||||
STATEMENTS OF CASH FLOWS - Unaudited | |||||||||||
(In thousands) | |||||||||||
Six Months Ended | |||||||||||
06/30/2022 | 06/30/2021 | ||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||
Net income | $ | 100,756 | $ | 76,870 | |||||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||||||||
Depreciation and amortization: | |||||||||||
Premiums and discounts on consolidated obligations, net | 19,826 | (9,003) | |||||||||
Concessions on consolidated obligations | 2,120 | 3,592 | |||||||||
Premiums and discounts on investments, net | 2,336 | 8,968 | |||||||||
Premiums, discounts and commitment fees on advances, net | (2,043) | (2,592) | |||||||||
Premiums, discounts and deferred loan costs on mortgage loans, net | 11,934 | 30,663 | |||||||||
Fair value adjustments on hedged assets or liabilities | 809 | 2,245 | |||||||||
Premises, software and equipment | 1,639 | 1,645 | |||||||||
Other | 124 | 150 | |||||||||
Provision (reversal) for credit losses on mortgage loans | (415) | 2,298 | |||||||||
Non-cash interest on mandatorily redeemable capital stock | 2 | 17 | |||||||||
Net realized (gains) losses on disposal of premises, software and equipment | 16 | — | |||||||||
Other adjustments, net | (192) | (139) | |||||||||
Net (gains) losses on trading securities | 82,827 | 40,158 | |||||||||
Net change in derivatives and hedging activities | 493,441 | 143,042 | |||||||||
(Increase) decrease in accrued interest receivable | (18,375) | 13,513 | |||||||||
Change in net accrued interest included in derivative assets | (33,149) | (4,580) | |||||||||
(Increase) decrease in other assets | (260) | 474 | |||||||||
Increase (decrease) in accrued interest payable | 31,482 | (4,845) | |||||||||
Change in net accrued interest included in derivative liabilities | 5,764 | (4,031) | |||||||||
Increase (decrease) in Affordable Housing Program liability | 3,577 | 1,029 | |||||||||
Increase (decrease) in other liabilities | (3,120) | (2,366) | |||||||||
Total adjustments | 598,343 | 220,238 | |||||||||
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 699,099 | 297,108 | |||||||||
FEDERAL HOME LOAN BANK OF TOPEKA | |||||||||||
STATEMENTS OF CASH FLOWS - Unaudited | |||||||||||
(In thousands) | |||||||||||
Six Months Ended | |||||||||||
06/30/2022 | 06/30/2021 | ||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||
Net (increase) decrease in interest-bearing deposits | $ | (409,606) | $ | 324,383 | |||||||
Net (increase) decrease in securities purchased under resale agreements | (750,000) | 600,000 | |||||||||
Net (increase) decrease in Federal funds sold | (2,000,000) | (271,000) | |||||||||
Proceeds from maturities of and principal repayments on trading securities | 1,686,892 | 964,650 | |||||||||
Purchases of trading securities | (1,790,000) | (1,500,000) | |||||||||
Proceeds from maturities of and principal repayments on available-for-sale securities | 715,524 | 1,148,174 | |||||||||
Purchases of available-for-sale securities | (1,573,277) | (550,335) | |||||||||
Proceeds from maturities of and principal repayments on held-to-maturity securities | 46,903 | 261,616 | |||||||||
Advances repaid | 285,513,050 | 249,739,414 | |||||||||
Advances originated | (291,848,144) | (249,626,718) | |||||||||
Principal collected on mortgage loans | 700,359 | 1,952,872 | |||||||||
Purchases of mortgage loans | (602,813) | (1,111,712) | |||||||||
Proceeds from sale of foreclosed assets | 691 | 604 | |||||||||
Other investing activities | 1,875 | 1,754 | |||||||||
Net (increase) decrease in loans to other FHLBanks | (200,000) | — | |||||||||
Purchases of premises, software and equipment | (1,186) | (633) | |||||||||
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | (10,509,732) | 1,933,069 | |||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||
Net increase (decrease) in deposits | (136,788) | (140,796) | |||||||||
Net proceeds from issuance of consolidated obligations: | |||||||||||
Discount notes | 123,799,659 | 150,599,735 | |||||||||
Bonds | 18,972,994 | 20,803,806 | |||||||||
Payments for maturing and retired consolidated obligations: | |||||||||||
Discount notes | (110,298,433) | (151,151,746) | |||||||||
Bonds | (23,287,700) | (26,332,300) | |||||||||
Net increase (decrease) in overnight loans from other FHLBanks | 500,000 | — | |||||||||
Net interest payments received (paid) for financing derivatives | (8,955) | (11,356) | |||||||||
Proceeds from issuance of capital stock | 1,555,142 | 820,160 | |||||||||
Payments for repurchase/redemption of capital stock | (821,253) | (385,281) | |||||||||
Payments for repurchase of mandatorily redeemable capital stock | (458,410) | (584,150) | |||||||||
Cash dividends paid | (114) | (129) | |||||||||
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 9,816,142 | (6,382,057) | |||||||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 5,509 | (4,151,880) | |||||||||
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 25,841 | 4,570,415 | |||||||||
CASH AND CASH EQUIVALENTS AT END OF PERIOD | $ | 31,350 | $ | 418,535 | |||||||
Supplemental disclosures: | |||||||||||
Interest paid | $ | 112,450 | $ | 101,557 | |||||||
Affordable Housing Program payments | $ | 7,739 | $ | 7,739 | |||||||
Net transfers of mortgage loans to other assets | $ | 67 | $ | 220 | |||||||
Transfer of held-to-maturity securities to available-for-sale securities with the adoption of the reference rate reform guidance | $ | — | $ | 2,019,635 |
Fair Value | Fair Value | |||||||||||||||
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||
Non-mortgage-backed securities: | Non-mortgage-backed securities: | Non-mortgage-backed securities: | ||||||||||||||
Certificates of deposit | Certificates of deposit | $ | 700,211 | $ | 200,023 | Certificates of deposit | $ | 639,786 | $ | 200,023 | ||||||
U.S. Treasury obligations | U.S. Treasury obligations | 905,038 | 917,472 | U.S. Treasury obligations | 649,108 | 917,472 | ||||||||||
GSE debentures | GSE debentures | 401,915 | 415,918 | GSE debentures | 396,487 | 415,918 | ||||||||||
Non-mortgage-backed securities | Non-mortgage-backed securities | 2,007,164 | 1,533,413 | Non-mortgage-backed securities | 1,685,381 | 1,533,413 | ||||||||||
Mortgage-backed securities: | Mortgage-backed securities: | Mortgage-backed securities: | ||||||||||||||
GSE MBS | GSE MBS | 768,654 | 806,542 | GSE MBS | 674,856 | 806,542 | ||||||||||
Mortgage-backed securities | Mortgage-backed securities | 768,654 | 806,542 | Mortgage-backed securities | 674,856 | 806,542 | ||||||||||
TOTAL | TOTAL | $ | 2,775,818 | $ | 2,339,955 | TOTAL | $ | 2,360,237 | $ | 2,339,955 |
Three Months Ended | |||||||||||||||||
03/31/2022 | 03/31/2021 | ||||||||||||||||
Net gains (losses) on trading securities held as of March 31, 2022 | $ | (59,465) | $ | (23,663) | |||||||||||||
Net gains (losses) on trading securities sold or matured prior to March 31, 2022 | (23) | (3,084) | |||||||||||||||
NET GAINS (LOSSES) ON TRADING SECURITIES | $ | (59,488) | $ | (26,747) |
Three Months Ended | Six Months Ended | ||||||||||||||||
06/30/2022 | 06/30/2021 | 06/30/2022 | 06/30/2021 | ||||||||||||||
Net gains (losses) on trading securities held as of June 30, 2022 | $ | (22,229) | $ | (7,439) | $ | (76,490) | $ | (27,779) | |||||||||
Net gains (losses) on trading securities sold or matured prior to June 30, 2022 | (1,110) | (5,972) | (6,337) | (12,379) | |||||||||||||
NET GAINS (LOSSES) ON TRADING SECURITIES | $ | (23,339) | $ | (13,411) | $ | (82,827) | $ | (40,158) |
03/31/2022 | 06/30/2022 | |||||||||||||||||||||||||||
Amortized Cost | Gross Unrecognized Gains | Gross Unrecognized Losses | Fair Value | Amortized Cost | Gross Unrecognized Gains | Gross Unrecognized Losses | Fair Value | |||||||||||||||||||||
Non-mortgage-backed securities: | Non-mortgage-backed securities: | Non-mortgage-backed securities: | ||||||||||||||||||||||||||
U.S. Treasury obligations | U.S. Treasury obligations | $ | 2,794,109 | $ | 1,922 | $ | (7,972) | $ | 2,788,059 | U.S. Treasury obligations | $ | 2,844,222 | $ | 2,935 | $ | (11,718) | $ | 2,835,439 | ||||||||||
Non-mortgage-backed securities | Non-mortgage-backed securities | 2,794,109 | 1,922 | (7,972) | 2,788,059 | Non-mortgage-backed securities | 2,844,222 | 2,935 | (11,718) | 2,835,439 | ||||||||||||||||||
Mortgage-backed securities: | Mortgage-backed securities: | Mortgage-backed securities: | ||||||||||||||||||||||||||
U.S. obligation MBS | U.S. obligation MBS | 46,763 | 78 | (24) | 46,817 | U.S. obligation MBS | 43,937 | — | (247) | 43,690 | ||||||||||||||||||
GSE MBS | GSE MBS | 4,972,001 | 62,067 | (22,609) | 5,011,459 | GSE MBS | 5,276,775 | 36,359 | (48,432) | 5,264,702 | ||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | 5,018,764 | 62,145 | (22,633) | 5,058,276 | Mortgage-backed securities | 5,320,712 | 36,359 | (48,679) | 5,308,392 | ||||||||||||||||||
TOTAL | TOTAL | $ | 7,812,873 | $ | 64,067 | $ | (30,605) | $ | 7,846,335 | TOTAL | $ | 8,164,934 | $ | 39,294 | $ | (60,397) | $ | 8,143,831 |
12/31/2021 | ||||||||||||||
Amortized Cost | Gross Unrecognized Gains | Gross Unrecognized Losses | Fair Value | |||||||||||
Non-mortgage-backed securities: | ||||||||||||||
U.S. Treasury obligations | $ | 2,814,519 | $ | 3,377 | $ | (1,459) | $ | 2,816,437 | ||||||
Non-mortgage-backed securities | 2,814,519 | 3,377 | (1,459) | 2,816,437 | ||||||||||
Mortgage-backed securities: | ||||||||||||||
U.S. obligation MBS | 50,512 | 261 | (6) | 50,767 | ||||||||||
GSE MBS | 4,779,465 | 78,246 | (5,730) | 4,851,981 | ||||||||||
Mortgage-backed securities | 4,829,977 | 78,507 | (5,736) | 4,902,748 | ||||||||||
TOTAL | $ | 7,644,496 | $ | 81,884 | $ | (7,195) | $ | 7,719,185 | ||||||
03/31/2022 | 06/30/2022 | |||||||||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||||||||||||
Non-mortgage-backed securities: | Non-mortgage-backed securities: | Non-mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||
U.S. Treasury obligations | U.S. Treasury obligations | $ | 1,277,798 | $ | (7,972) | $ | — | $ | — | $ | 1,277,798 | $ | (7,972) | U.S. Treasury obligations | $ | 1,340,401 | $ | (11,718) | $ | — | $ | — | $ | 1,340,401 | $ | (11,718) | ||||||||||||||
Non-mortgage-backed securities | Non-mortgage-backed securities | 1,277,798 | (7,972) | — | — | 1,277,798 | (7,972) | Non-mortgage-backed securities | 1,340,401 | (11,718) | — | — | 1,340,401 | (11,718) | ||||||||||||||||||||||||||
Mortgage-backed securities: | Mortgage-backed securities: | Mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||
U.S. obligation MBS | U.S. obligation MBS | 3,654 | (9) | 5,808 | (15) | 9,462 | (24) | U.S. obligation MBS | 38,196 | (205) | 5,494 | (42) | 43,690 | (247) | ||||||||||||||||||||||||||
GSE MBS | GSE MBS | 1,275,723 | (20,642) | 717,035 | (1,967) | 1,992,758 | (22,609) | GSE MBS | 2,238,221 | (45,067) | 733,939 | (3,365) | 2,972,160 | (48,432) | ||||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | 1,279,377 | (20,651) | 722,843 | (1,982) | 2,002,220 | (22,633) | Mortgage-backed securities | 2,276,417 | (45,272) | 739,433 | (3,407) | 3,015,850 | (48,679) | ||||||||||||||||||||||||||
TOTAL | TOTAL | $ | 2,557,175 | $ | (28,623) | $ | 722,843 | $ | (1,982) | $ | 3,280,018 | $ | (30,605) | TOTAL | $ | 3,616,818 | $ | (56,990) | $ | 739,433 | $ | (3,407) | $ | 4,356,251 | $ | (60,397) |
12/31/2021 | ||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||
U.S. Treasury obligations | $ | 786,606 | $ | (1,459) | $ | — | $ | — | $ | 786,606 | $ | (1,459) | ||||||||
Non-mortgage-backed securities | 786,606 | (1,459) | — | — | 786,606 | (1,459) | ||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||
U.S. obligation MBS | — | — | 6,191 | (6) | 6,191 | (6) | ||||||||||||||
GSE MBS | 331,546 | (4,166) | 740,451 | (1,564) | 1,071,997 | (5,730) | ||||||||||||||
Mortgage-backed securities | 331,546 | (4,166) | 746,642 | (1,570) | 1,078,188 | (5,736) | ||||||||||||||
TOTAL | $ | 1,118,152 | $ | (5,625) | $ | 746,642 | $ | (1,570) | $ | 1,864,794 | $ | (7,195) |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||||||||||||||
Amortized Cost | Fair Value | Amortized Cost | Fair Value | Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||||||||||||
Non-mortgage-backed securities: | Non-mortgage-backed securities: | Non-mortgage-backed securities: | ||||||||||||||||||||||||||
Due in one year or less | Due in one year or less | $ | 1,200,885 | $ | 1,201,645 | $ | 907,110 | $ | 907,908 | Due in one year or less | $ | 944,775 | $ | 945,807 | $ | 907,110 | $ | 907,908 | ||||||||||
Due after one year through five years | Due after one year through five years | 1,360,753 | 1,354,151 | 1,660,664 | 1,661,260 | Due after one year through five years | 1,674,588 | 1,665,306 | 1,660,664 | 1,661,260 | ||||||||||||||||||
Due after five years through ten years | Due after five years through ten years | 232,471 | 232,263 | 246,745 | 247,269 | Due after five years through ten years | 224,859 | 224,326 | 246,745 | 247,269 | ||||||||||||||||||
Due after ten years | Due after ten years | — | — | — | — | Due after ten years | — | — | — | — | ||||||||||||||||||
Non-mortgage-backed securities | Non-mortgage-backed securities | 2,794,109 | 2,788,059 | 2,814,519 | 2,816,437 | Non-mortgage-backed securities | 2,844,222 | 2,835,439 | 2,814,519 | 2,816,437 | ||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | 5,018,764 | 5,058,276 | 4,829,977 | 4,902,748 | Mortgage-backed securities | 5,320,712 | 5,308,392 | 4,829,977 | 4,902,748 | ||||||||||||||||||
TOTAL | TOTAL | $ | 7,812,873 | $ | 7,846,335 | $ | 7,644,496 | $ | 7,719,185 | TOTAL | $ | 8,164,934 | $ | 8,143,831 | $ | 7,644,496 | $ | 7,719,185 |
03/31/2022 | 06/30/2022 | |||||||||||||||||||||||||||
Amortized Cost | Gross Unrecognized Gains | Gross Unrecognized Losses | Fair Value | Amortized Cost | Gross Unrecognized Gains | Gross Unrecognized Losses | Fair Value | |||||||||||||||||||||
Non-mortgage-backed securities: | Non-mortgage-backed securities: | Non-mortgage-backed securities: | ||||||||||||||||||||||||||
State or local housing agency obligations | State or local housing agency obligations | $ | 74,865 | $ | — | $ | (1,185) | $ | 73,680 | State or local housing agency obligations | $ | 73,940 | $ | — | $ | (1,039) | $ | 72,901 | ||||||||||
Non-mortgage-backed securities | Non-mortgage-backed securities | 74,865 | — | (1,185) | 73,680 | Non-mortgage-backed securities | 73,940 | — | (1,039) | 72,901 | ||||||||||||||||||
Mortgage-backed securities: | Mortgage-backed securities: | Mortgage-backed securities: | ||||||||||||||||||||||||||
GSE MBS | GSE MBS | 346,718 | 4,643 | (1,346) | 350,015 | GSE MBS | 325,368 | 3,664 | (2,196) | 326,836 | ||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | 346,718 | 4,643 | (1,346) | 350,015 | Mortgage-backed securities | 325,368 | 3,664 | (2,196) | 326,836 | ||||||||||||||||||
TOTAL | TOTAL | $ | 421,583 | $ | 4,643 | $ | (2,531) | $ | 423,695 | TOTAL | $ | 399,308 | $ | 3,664 | $ | (3,235) | $ | 399,737 |
12/31/2021 | ||||||||||||||
Amortized Cost | Gross Unrecognized Gains | Gross Unrecognized Losses | Fair Value | |||||||||||
Non-mortgage-backed securities: | ||||||||||||||
State or local housing agency obligations | $ | 74,865 | $ | — | $ | (1,250) | $ | 73,615 | ||||||
Non-mortgage-backed securities | 74,865 | — | (1,250) | 73,615 | ||||||||||
Mortgage-backed securities: | ||||||||||||||
GSE MBS | 371,320 | 5,913 | (77) | 377,156 | ||||||||||
Mortgage-backed securities | 371,320 | 5,913 | (77) | 377,156 | ||||||||||
TOTAL | $ | 446,185 | $ | 5,913 | $ | (1,327) | $ | 450,771 |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||||||||||||||||||||||||||
Amortized Cost | Fair Value | Amortized Cost | Fair Value | Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||||||||||||||||||||||||
Non-mortgage-backed securities: | Non-mortgage-backed securities: | Non-mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||
Due in one year or less | Due in one year or less | $ | — | $ | — | $ | — | $ | — | Due in one year or less | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Due after one year through five years | Due after one year through five years | — | — | — | — | Due after one year through five years | — | — | — | — | ||||||||||||||||||||||||||||||
Due after five years through ten years | Due after five years through ten years | 44,865 | 44,745 | 44,865 | 44,736 | Due after five years through ten years | 43,940 | 43,835 | 44,865 | 44,736 | ||||||||||||||||||||||||||||||
Due after ten years | Due after ten years | 30,000 | 28,935 | 30,000 | 28,879 | Due after ten years | 30,000 | 29,066 | 30,000 | 28,879 | ||||||||||||||||||||||||||||||
Non-mortgage-backed securities | Non-mortgage-backed securities | 74,865 | 73,680 | 74,865 | 73,615 | Non-mortgage-backed securities | 73,940 | 72,901 | 74,865 | 73,615 | ||||||||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | 346,718 | 350,015 | 371,320 | 377,156 | Mortgage-backed securities | 325,368 | 326,836 | 371,320 | 377,156 | ||||||||||||||||||||||||||||||
TOTAL | TOTAL | $ | 421,583 | $ | 423,695 | $ | 446,185 | $ | 450,771 | TOTAL | $ | 399,308 | $ | 399,737 | $ | 446,185 | $ | 450,771 |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||||||||||||||
Redemption Term | Redemption Term | Amount | Weighted Average Interest Rate | Amount | Weighted Average Interest Rate | Redemption Term | Amount | Weighted Average Interest Rate | Amount | Weighted Average Interest Rate | ||||||||||||||||||
Due in one year or less | Due in one year or less | $ | 15,252,784 | 0.52 | % | $ | 13,279,735 | 0.34 | % | Due in one year or less | $ | 19,288,811 | 1.43 | % | $ | 13,279,735 | 0.34 | % | ||||||||||
Due after one year through two years | Due after one year through two years | 1,972,740 | 1.40 | 1,825,235 | 1.31 | Due after one year through two years | 2,406,071 | 1.84 | 1,825,235 | 1.31 | ||||||||||||||||||
Due after two years through three years | Due after two years through three years | 2,602,736 | 1.11 | 2,359,249 | 0.98 | Due after two years through three years | 2,494,157 | 1.74 | 2,359,249 | 0.98 | ||||||||||||||||||
Due after three years through four years | Due after three years through four years | 1,356,634 | 1.31 | 1,511,691 | 1.18 | Due after three years through four years | 1,376,074 | 1.66 | 1,511,691 | 1.18 | ||||||||||||||||||
Due after four years through five years | Due after four years through five years | 1,290,236 | 1.16 | 1,314,949 | 1.09 | Due after four years through five years | 1,392,569 | 1.74 | 1,314,949 | 1.09 | ||||||||||||||||||
Thereafter | Thereafter | 3,165,725 | 1.92 | 3,141,969 | 1.76 | Thereafter | 2,810,240 | 2.41 | 3,141,969 | 1.76 | ||||||||||||||||||
Total par value | Total par value | 25,640,855 | 0.90 | % | 23,432,828 | 0.77 | % | Total par value | 29,767,922 | 1.60 | % | 23,432,828 | 0.77 | % | ||||||||||||||
Discounts | Discounts | (15,741) | (16,856) | Discounts | (14,810) | (16,856) | ||||||||||||||||||||||
Hedging adjustments | Hedging adjustments | (137,538) | 68,316 | Hedging adjustments | (230,272) | 68,316 | ||||||||||||||||||||||
TOTAL | TOTAL | $ | 25,487,576 | $ | 23,484,288 | TOTAL | $ | 29,522,840 | $ | 23,484,288 |
Redemption Term or Next Call Date | Redemption Term or Next Conversion Date | Redemption Term or Next Call Date | Redemption Term or Next Conversion Date | |||||||||||||||||||||||||
Redemption Term | Redemption Term | 03/31/2022 | 12/31/2021 | 03/31/2022 | 12/31/2021 | Redemption Term | 06/30/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | ||||||||||||||||||
Due in one year or less | Due in one year or less | $ | 16,430,851 | $ | 14,582,991 | $ | 16,337,284 | $ | 14,324,735 | Due in one year or less | $ | 20,533,430 | $ | 14,582,991 | $ | 19,806,011 | $ | 14,324,735 | ||||||||||
Due after one year through two years | Due after one year through two years | 1,693,216 | 1,552,690 | 2,107,990 | 2,034,485 | Due after one year through two years | 2,003,127 | 1,552,690 | 2,511,571 | 2,034,485 | ||||||||||||||||||
Due after two years through three years | Due after two years through three years | 2,015,557 | 1,821,308 | 2,693,136 | 2,452,148 | Due after two years through three years | 2,014,673 | 1,821,308 | 2,597,057 | 2,452,148 | ||||||||||||||||||
Due after three years through four years | Due after three years through four years | 1,307,354 | 1,280,597 | 1,352,284 | 1,507,341 | Due after three years through four years | 1,374,326 | 1,280,597 | 1,375,724 | 1,507,341 | ||||||||||||||||||
Due after four years through five years | Due after four years through five years | 1,282,347 | 1,308,086 | 1,290,236 | 1,314,949 | Due after four years through five years | 1,292,947 | 1,308,086 | 1,384,569 | 1,314,949 | ||||||||||||||||||
Thereafter | Thereafter | 2,911,530 | 2,887,156 | 1,859,925 | 1,799,170 | Thereafter | 2,549,419 | 2,887,156 | 2,092,990 | 1,799,170 | ||||||||||||||||||
TOTAL PAR VALUE | TOTAL PAR VALUE | $ | 25,640,855 | $ | 23,432,828 | $ | 25,640,855 | $ | 23,432,828 | TOTAL PAR VALUE | $ | 29,767,922 | $ | 23,432,828 | $ | 29,767,922 | $ | 23,432,828 |
Redemption Term | Redemption Term | 03/31/2022 | 12/31/2021 | Redemption Term | 06/30/2022 | 12/31/2021 | ||||||||||
Fixed rate: | Fixed rate: | Fixed rate: | ||||||||||||||
Due in one year or less | Due in one year or less | $ | 14,943,734 | $ | 13,061,185 | Due in one year or less | $ | 18,911,761 | $ | 13,061,185 | ||||||
Due after one year through three years | Due after one year through three years | 2,740,376 | 2,593,884 | Due after one year through three years | 2,964,328 | 2,593,884 | ||||||||||
Due after three years through five years | Due after three years through five years | 1,799,305 | 1,871,575 | Due after three years through five years | 1,795,328 | 1,871,575 | ||||||||||
Due after five years through fifteen years | Due after five years through fifteen years | 2,776,402 | 2,752,551 | Due after five years through fifteen years | 2,419,468 | 2,752,551 | ||||||||||
Due after fifteen years | Due after fifteen years | 38,776 | 37,371 | Due after fifteen years | 34,775 | 37,371 | ||||||||||
Total fixed rate | Total fixed rate | 22,298,593 | 20,316,566 | Total fixed rate | 26,125,660 | 20,316,566 | ||||||||||
Variable rate: | Variable rate: | Variable rate: | ||||||||||||||
Due in one year or less | Due in one year or less | 309,050 | 218,550 | Due in one year or less | 377,050 | 218,550 | ||||||||||
Due after one year through three years | Due after one year through three years | 1,835,100 | 1,590,600 | Due after one year through three years | 1,935,900 | 1,590,600 | ||||||||||
Due after three years through five years | Due after three years through five years | 847,565 | 955,065 | Due after three years through five years | 973,315 | 955,065 | ||||||||||
Due after five years through fifteen years | Due after five years through fifteen years | 348,047 | 349,547 | Due after five years through fifteen years | 353,497 | 349,547 | ||||||||||
Due after fifteen years | Due after fifteen years | 2,500 | 2,500 | Due after fifteen years | 2,500 | 2,500 | ||||||||||
Total variable rate | Total variable rate | 3,342,262 | 3,116,262 | Total variable rate | 3,642,262 | 3,116,262 | ||||||||||
TOTAL PAR VALUE | TOTAL PAR VALUE | $ | 25,640,855 | $ | 23,432,828 | TOTAL PAR VALUE | $ | 29,767,922 | $ | 23,432,828 |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||
Real estate: | Real estate: | Real estate: | ||||||||||||||
Fixed rate, medium-term1, single-family mortgages | Fixed rate, medium-term1, single-family mortgages | $ | 1,324,691 | $ | 1,375,318 | Fixed rate, medium-term1, single-family mortgages | $ | 1,278,877 | $ | 1,375,318 | ||||||
Fixed rate, long-term, single-family mortgages | Fixed rate, long-term, single-family mortgages | 6,608,373 | 6,664,654 | Fixed rate, long-term, single-family mortgages | 6,657,873 | 6,664,654 | ||||||||||
Total unpaid principal balance | Total unpaid principal balance | 7,933,064 | 8,039,972 | Total unpaid principal balance | 7,936,750 | 8,039,972 | ||||||||||
Premiums | Premiums | 104,101 | 107,697 | Premiums | 101,799 | 107,697 | ||||||||||
Discounts | Discounts | (1,361) | (1,371) | Discounts | (1,920) | (1,371) | ||||||||||
Deferred loan costs, net | Deferred loan costs, net | 64 | 76 | Deferred loan costs, net | 54 | 76 | ||||||||||
Hedging adjustments | Hedging adjustments | (8,881) | (6,011) | Hedging adjustments | (12,551) | (6,011) | ||||||||||
Total before allowance for credit losses on mortgage loans | Total before allowance for credit losses on mortgage loans | 8,026,987 | 8,140,363 | Total before allowance for credit losses on mortgage loans | 8,024,132 | 8,140,363 | ||||||||||
Allowance for credit losses on mortgage loans | Allowance for credit losses on mortgage loans | (5,038) | (5,317) | Allowance for credit losses on mortgage loans | (5,202) | (5,317) | ||||||||||
MORTGAGE LOANS HELD FOR PORTFOLIO, NET | MORTGAGE LOANS HELD FOR PORTFOLIO, NET | $ | 8,021,949 | $ | 8,135,046 | MORTGAGE LOANS HELD FOR PORTFOLIO, NET | $ | 8,018,930 | $ | 8,135,046 |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||
Conventional loans | Conventional loans | $ | 7,557,502 | $ | 7,644,184 | Conventional loans | $ | 7,576,855 | $ | 7,644,184 | ||||||
Government-guaranteed or -insured loans | Government-guaranteed or -insured loans | 375,562 | 395,788 | Government-guaranteed or -insured loans | 359,895 | 395,788 | ||||||||||
TOTAL UNPAID PRINCIPAL BALANCE | TOTAL UNPAID PRINCIPAL BALANCE | $ | 7,933,064 | $ | 8,039,972 | TOTAL UNPAID PRINCIPAL BALANCE | $ | 7,936,750 | $ | 8,039,972 |
03/31/2022 | 06/30/2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conventional Loans | Government Loans | Total | Conventional Loans | Government Loans | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Origination Year | Subtotal | Origination Year | Subtotal | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prior to 2018 | 2018 | 2019 | 2020 | 2021 | 2022 | Prior to 2018 | 2018 | 2019 | 2020 | 2021 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost:1 | Amortized Cost:1 | Amortized Cost:1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Past due 30-59 days delinquent | Past due 30-59 days delinquent | $ | 21,713 | $ | 6,087 | $ | 7,303 | $ | 5,559 | $ | 4,533 | $ | — | $ | 45,195 | $ | 8,095 | $ | 53,290 | Past due 30-59 days delinquent | $ | 17,920 | $ | 5,471 | $ | 8,583 | $ | 4,119 | $ | 4,650 | $ | 1,648 | $ | 42,391 | $ | 8,395 | $ | 50,786 | ||||||||||||||||||||
Past due 60-89 days delinquent | Past due 60-89 days delinquent | 5,616 | 1,376 | 2,839 | 1,217 | 448 | — | 11,496 | 2,887 | 14,383 | Past due 60-89 days delinquent | 5,943 | 1,618 | 2,699 | 460 | 466 | — | 11,186 | 2,961 | 14,147 | ||||||||||||||||||||||||||||||||||||||
Past due 90 days or more delinquent | Past due 90 days or more delinquent | 8,749 | 6,418 | 10,704 | — | 646 | — | 26,517 | 9,348 | 35,865 | Past due 90 days or more delinquent | 5,932 | 4,147 | 8,269 | 794 | — | — | 19,142 | 5,559 | 24,701 | ||||||||||||||||||||||||||||||||||||||
Total past due | Total past due | 36,078 | 13,881 | 20,846 | 6,776 | 5,627 | — | 83,208 | 20,330 | 103,538 | Total past due | 29,795 | 11,236 | 19,551 | 5,373 | 5,116 | 1,648 | 72,719 | 16,915 | 89,634 | ||||||||||||||||||||||||||||||||||||||
Total current loans | Total current loans | 1,996,741 | 326,542 | 1,206,839 | 1,790,639 | 1,992,479 | 249,717 | 7,562,957 | 360,492 | 7,923,449 | Total current loans | 1,894,072 | 306,279 | 1,152,270 | 1,739,822 | 1,942,914 | 551,226 | 7,586,583 | 347,915 | 7,934,498 | ||||||||||||||||||||||||||||||||||||||
Total mortgage loans | Total mortgage loans | $ | 2,032,819 | $ | 340,423 | $ | 1,227,685 | $ | 1,797,415 | $ | 1,998,106 | $ | 249,717 | $ | 7,646,165 | $ | 380,822 | $ | 8,026,987 | Total mortgage loans | $ | 1,923,867 | $ | 317,515 | $ | 1,171,821 | $ | 1,745,195 | $ | 1,948,030 | $ | 552,874 | $ | 7,659,302 | $ | 364,830 | $ | 8,024,132 | ||||||||||||||||||||
Other delinquency statistics: | Other delinquency statistics: | Other delinquency statistics: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In process of foreclosure2 | In process of foreclosure2 | $ | 4,604 | $ | 2,288 | $ | 6,892 | In process of foreclosure2 | $ | 9,307 | $ | 1,441 | $ | 10,748 | ||||||||||||||||||||||||||||||||||||||||||||
Serious delinquency rate3 | Serious delinquency rate3 | 0.4 | % | 2.5 | % | 0.5 | % | Serious delinquency rate3 | 0.2 | % | 1.5 | % | 0.3 | % | ||||||||||||||||||||||||||||||||||||||||||||
Past due 90 days or more and still accruing interest | Past due 90 days or more and still accruing interest | $ | — | $ | 9,348 | $ | 9,348 | Past due 90 days or more and still accruing interest | $ | — | $ | 5,559 | $ | 5,559 | ||||||||||||||||||||||||||||||||||||||||||||
Loans on nonaccrual status4 | Loans on nonaccrual status4 | $ | 32,039 | $ | — | $ | 32,039 | Loans on nonaccrual status4 | $ | 26,294 | $ | — | $ | 26,294 |
12/31/2021 | |||||||||||||||||||||||||||||
Conventional Loans | Government Loans | Total | |||||||||||||||||||||||||||
Origination Year | Subtotal | ||||||||||||||||||||||||||||
Prior to 2017 | 2017 | 2018 | 2019 | 2020 | 2021 | ||||||||||||||||||||||||
Amortized Cost:1 | |||||||||||||||||||||||||||||
Past due 30-59 days delinquent | $ | 17,460 | $ | 4,799 | $ | 6,567 | $ | 9,385 | $ | 3,472 | $ | 2,743 | $ | 44,426 | $ | 8,539 | $ | 52,965 | |||||||||||
Past due 60-89 days delinquent | 2,908 | 1,258 | 1,653 | 2,408 | 1,063 | — | 9,290 | 2,187 | 11,477 | ||||||||||||||||||||
Past due 90 days or more delinquent | 8,530 | 3,271 | 6,241 | 13,199 | 353 | 1,103 | 32,697 | 13,290 | 45,987 | ||||||||||||||||||||
Total past due | 28,898 | 9,328 | 14,461 | 24,992 | 4,888 | 3,846 | 86,413 | 24,016 | 110,429 | ||||||||||||||||||||
Total current loans | 1,719,777 | 415,762 | 356,936 | 1,299,061 | 1,853,232 | 2,007,773 | 7,652,541 | 377,393 | 8,029,934 | ||||||||||||||||||||
Total mortgage loans | $ | 1,748,675 | $ | 425,090 | $ | 371,397 | $ | 1,324,053 | $ | 1,858,120 | $ | 2,011,619 | $ | 7,738,954 | $ | 401,409 | $ | 8,140,363 | |||||||||||
Other delinquency statistics: | |||||||||||||||||||||||||||||
In process of foreclosure2 | $ | 3,065 | $ | 1,868 | $ | 4,933 | |||||||||||||||||||||||
Serious delinquency rate3 | 0.4 | % | 3.3 | % | 0.6 | % | |||||||||||||||||||||||
Past due 90 days or more and still accruing interest | $ | — | $ | 13,290 | $ | 13,290 | |||||||||||||||||||||||
Loans on nonaccrual status4 | $ | 37,867 | $ | — | $ | 37,867 |
Three Months Ended | Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||
Conventional Loans | Conventional Loans | 03/31/2022 | 03/31/2021 | Conventional Loans | 06/30/2022 | 06/30/2021 | 06/30/2022 | 06/30/2021 | ||||||||||||||||||||||||||
Balance, beginning of the period | Balance, beginning of the period | $ | 5,317 | $ | 5,177 | Balance, beginning of the period | $ | 5,038 | $ | 4,956 | $ | 5,317 | $ | 5,177 | ||||||||||||||||||||
Net (charge-offs) recoveries | Net (charge-offs) recoveries | 28 | (207) | Net (charge-offs) recoveries | 272 | 284 | 300 | 77 | ||||||||||||||||||||||||||
Provision (reversal) for credit losses | Provision (reversal) for credit losses | (307) | (14) | Provision (reversal) for credit losses | (108) | 2,312 | (415) | 2,298 | ||||||||||||||||||||||||||
Balance, end of the period | Balance, end of the period | $ | 5,038 | $ | 4,956 | Balance, end of the period | $ | 5,202 | $ | 7,552 | $ | 5,202 | $ | 7,552 |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||||||||||||||||||||||||||
Notional Amount | Derivative Assets | Derivative Liabilities | Notional Amount | Derivative Assets | Derivative Liabilities | Notional Amount | Derivative Assets | Derivative Liabilities | Notional Amount | Derivative Assets | Derivative Liabilities | |||||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | Derivatives designated as hedging instruments: | Derivatives designated as hedging instruments: | ||||||||||||||||||||||||||||||||||||||
Interest rate swaps | Interest rate swaps | $ | 23,432,796 | $ | 41,172 | $ | 323,629 | $ | 18,695,438 | $ | 16,678 | $ | 152,302 | Interest rate swaps | $ | 29,696,990 | $ | 72,099 | $ | 449,643 | $ | 18,695,438 | $ | 16,678 | $ | 152,302 | ||||||||||||||
Total derivatives designated as hedging relationships | Total derivatives designated as hedging relationships | 23,432,796 | 41,172 | 323,629 | 18,695,438 | 16,678 | 152,302 | Total derivatives designated as hedging relationships | 29,696,990 | 72,099 | 449,643 | 18,695,438 | 16,678 | 152,302 | ||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | Derivatives not designated as hedging instruments: | Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||||||||||||||||
Interest rate swaps | Interest rate swaps | 2,070,945 | 6,354 | 534 | 2,079,830 | 5 | 28,963 | Interest rate swaps | 5,505,369 | 16,039 | 1,584 | 2,079,830 | 5 | 28,963 | ||||||||||||||||||||||||||
Interest rate caps/floors | Interest rate caps/floors | 354,000 | 1,276 | — | 477,500 | 335 | — | Interest rate caps/floors | 329,000 | 1,421 | — | 477,500 | 335 | — | ||||||||||||||||||||||||||
Mortgage delivery commitments | Mortgage delivery commitments | 129,831 | 34 | 1,940 | 72,025 | 32 | 45 | Mortgage delivery commitments | 101,659 | 299 | 316 | 72,025 | 32 | 45 | ||||||||||||||||||||||||||
Total derivatives not designated as hedging instruments | Total derivatives not designated as hedging instruments | 2,554,776 | 7,664 | 2,474 | 2,629,355 | 372 | 29,008 | Total derivatives not designated as hedging instruments | 5,936,028 | 17,759 | 1,900 | 2,629,355 | 372 | 29,008 | ||||||||||||||||||||||||||
TOTAL | TOTAL | $ | 25,987,572 | 48,836 | 326,103 | $ | 21,324,793 | 17,050 | 181,310 | TOTAL | $ | 35,633,018 | 89,858 | 451,543 | $ | 21,324,793 | 17,050 | 181,310 | ||||||||||||||||||||||
Netting adjustments and cash collateral1 | Netting adjustments and cash collateral1 | 126,809 | (323,609) | 139,876 | (176,730) | Netting adjustments and cash collateral1 | 91,991 | (445,971) | 139,876 | (176,730) | ||||||||||||||||||||||||||||||
DERIVATIVE ASSETS AND LIABILITIES | DERIVATIVE ASSETS AND LIABILITIES | $ | 175,645 | $ | 2,494 | $ | 156,926 | $ | 4,580 | DERIVATIVE ASSETS AND LIABILITIES | $ | 181,849 | $ | 5,572 | $ | 156,926 | $ | 4,580 |
Three Months Ended | Three Months Ended | |||||||||||||||||||||||||||
03/31/2022 | 06/30/2022 | |||||||||||||||||||||||||||
Interest Income/Expense | Interest Income/Expense | |||||||||||||||||||||||||||
Advances | Available-for-sale Securities | Consolidated Obligation Discount Notes | Consolidated Obligation Bonds | Advances | Available-for-sale Securities | Consolidated Obligation Discount Notes | Consolidated Obligation Bonds | |||||||||||||||||||||
Total amounts presented in the Statements of Income | Total amounts presented in the Statements of Income | $ | 37,881 | $ | 14,784 | $ | 2,036 | $ | 36,556 | Total amounts presented in the Statements of Income | $ | 77,874 | $ | 25,960 | $ | 27,998 | $ | 79,776 | ||||||||||
Gains (losses) on fair value hedging relationships: | Gains (losses) on fair value hedging relationships: | Gains (losses) on fair value hedging relationships: | ||||||||||||||||||||||||||
Interest rate contracts: | Interest rate contracts: | Interest rate contracts: | ||||||||||||||||||||||||||
Derivatives1 | Derivatives1 | $ | 193,430 | $ | 215,804 | $ | (606) | $ | (255,563) | Derivatives1 | $ | 83,919 | $ | 109,717 | $ | (12,112) | $ | (97,791) | ||||||||||
Hedged items2 | Hedged items2 | (207,166) | (235,685) | 1,230 | 273,563 | Hedged items2 | (92,726) | (122,076) | 19,597 | 109,196 | ||||||||||||||||||
NET GAINS (LOSSES) ON FAIR VALUE HEDGING RELATIONSHIPS | NET GAINS (LOSSES) ON FAIR VALUE HEDGING RELATIONSHIPS | $ | (13,736) | $ | (19,881) | $ | 624 | $ | 18,000 | NET GAINS (LOSSES) ON FAIR VALUE HEDGING RELATIONSHIPS | $ | (8,807) | $ | (12,359) | $ | 7,485 | $ | 11,405 |
Three Months Ended | Three Months Ended | |||||||||||||||||||||||||||
03/31/2021 | 06/30/2021 | |||||||||||||||||||||||||||
Interest Income/Expense | Interest Income/Expense | |||||||||||||||||||||||||||
Advances | Available-for-sale Securities | Consolidated Obligation Discount Notes | Consolidated Obligation Bonds | Advances | Available-for-sale Securities | Consolidated Obligation Discount Notes | Consolidated Obligation Bonds | |||||||||||||||||||||
Total amounts presented in the Statements of Income | Total amounts presented in the Statements of Income | $ | 35,443 | $ | 11,477 | $ | 1,998 | $ | 46,515 | Total amounts presented in the Statements of Income | $ | 30,309 | $ | 7,411 | $ | 1,069 | $ | 40,151 | ||||||||||
Gains (losses) on fair value hedging relationships: | Gains (losses) on fair value hedging relationships: | Gains (losses) on fair value hedging relationships: | ||||||||||||||||||||||||||
Interest rate contracts: | Interest rate contracts: | Interest rate contracts: | ||||||||||||||||||||||||||
Derivatives1 | Derivatives1 | $ | 116,674 | $ | 124,675 | $ | 13 | $ | (21,293) | Derivatives1 | $ | (34,074) | $ | (44,845) | $ | — | $ | 10,529 | ||||||||||
Hedged items2 | Hedged items2 | (131,314) | (148,040) | (4) | 28,620 | Hedged items2 | 16,080 | 17,973 | (29) | (2,178) | ||||||||||||||||||
NET GAINS (LOSSES) ON FAIR VALUE HEDGING RELATIONSHIPS | NET GAINS (LOSSES) ON FAIR VALUE HEDGING RELATIONSHIPS | $ | (14,640) | $ | (23,365) | $ | 9 | $ | 7,327 | NET GAINS (LOSSES) ON FAIR VALUE HEDGING RELATIONSHIPS | $ | (17,994) | $ | (26,872) | $ | (29) | $ | 8,351 |
Six Months Ended | ||||||||||||||
06/30/2022 | ||||||||||||||
Interest Income/Expense | ||||||||||||||
Advances | Available-for-sale Securities | Consolidated Obligation Discount Notes | Consolidated Obligation Bonds | |||||||||||
Total amounts presented in the Statements of Income | $ | 115,755 | $ | 40,744 | $ | 30,034 | $ | 116,332 | ||||||
Gains (losses) on fair value hedging relationships: | ||||||||||||||
Interest rate contracts: | ||||||||||||||
Derivatives1 | $ | 277,349 | $ | 325,521 | $ | (12,718) | $ | (353,354) | ||||||
Hedged items2 | (299,892) | (357,761) | 20,827 | 382,759 | ||||||||||
NET GAINS (LOSSES) ON FAIR VALUE HEDGING RELATIONSHIPS | $ | (22,543) | $ | (32,240) | $ | 8,109 | $ | 29,405 |
Six Months Ended | ||||||||||||||
6/30/2021 | ||||||||||||||
Interest Income/Expense | ||||||||||||||
Advances | Available-for-sale Securities | Consolidated Obligation Discount Notes | Consolidated Obligation Bonds | |||||||||||
Total amounts presented in the Statements of Income | $ | 65,752 | $ | 18,888 | $ | 3,067 | $ | 86,666 | ||||||
Gains (losses) on fair value hedging relationships: | ||||||||||||||
Interest rate contracts: | ||||||||||||||
Derivatives1 | $ | 82,600 | $ | 79,830 | $ | 13 | $ | (10,764) | ||||||
Hedged items2 | (115,234) | (130,067) | (33) | 26,442 | ||||||||||
NET GAINS (LOSSES) ON FAIR VALUE HEDGING RELATIONSHIPS | $ | (32,634) | $ | (50,237) | $ | (20) | $ | 15,678 |
03/31/2022 | ||||||||||||||||||||||||||||
06/30/2022 | 06/30/2022 | |||||||||||||||||||||||||||
Line Item in Statements of Condition of Hedged Item | Line Item in Statements of Condition of Hedged Item | Carrying Value of Hedged Asset/(Liability)1 | Basis Adjustments for Active Hedging Relationships2 | Basis Adjustments for Discontinued Hedging Relationships2 | Cumulative Amount of Fair Value Hedging Basis Adjustments2 | Line Item in Statements of Condition of Hedged Item | Carrying Value of Hedged Asset/(Liability)1 | Basis Adjustments for Active Hedging Relationships2 | Basis Adjustments for Discontinued Hedging Relationships2 | Cumulative Amount of Fair Value Hedging Basis Adjustments2 | ||||||||||||||||||
Advances | Advances | $ | 6,479,371 | $ | (148,239) | $ | 10,701 | $ | (137,538) | Advances | $ | 6,006,368 | $ | (240,414) | $ | 10,142 | $ | (230,272) | ||||||||||
Available-for-sale securities | Available-for-sale securities | 5,558,283 | (136,497) | — | (136,497) | Available-for-sale securities | 5,671,339 | (258,572) | — | (258,572) | ||||||||||||||||||
Consolidated obligation discount notes | Consolidated obligation discount notes | (697,523) | 1,230 | — | 1,230 | Consolidated obligation discount notes | (6,901,591) | 20,827 | — | 20,827 | ||||||||||||||||||
Consolidated obligation bonds | Consolidated obligation bonds | (10,084,063) | 314,077 | — | 314,077 | Consolidated obligation bonds | (10,150,905) | 423,273 | — | 423,273 | ||||||||||||||||||
12/31/2021 | 12/31/2021 | 12/31/2021 | ||||||||||||||||||||||||||
Line Item in Statements of Condition of Hedged Item | Line Item in Statements of Condition of Hedged Item | Carrying Value of Hedged Asset/(Liability)1 | Basis Adjustments for Active Hedging Relationships2 | Basis Adjustments for Discontinued Hedging Relationships2 | Cumulative Amount of Fair Value Hedging Basis Adjustments2 | Line Item in Statements of Condition of Hedged Item | Carrying Value of Hedged Asset/(Liability)1 | Basis Adjustments for Active Hedging Relationships2 | Basis Adjustments for Discontinued Hedging Relationships2 | Cumulative Amount of Fair Value Hedging Basis Adjustments2 | ||||||||||||||||||
Advances | Advances | $ | 6,268,057 | $ | 57,055 | $ | 11,261 | $ | 68,316 | Advances | $ | 6,268,057 | $ | 57,055 | $ | 11,261 | $ | 68,316 | ||||||||||
Available-for-sale securities | Available-for-sale securities | 5,785,963 | 100,372 | — | 100,372 | Available-for-sale securities | 5,785,963 | 100,372 | — | 100,372 | ||||||||||||||||||
Consolidated obligation bonds | Consolidated obligation bonds | (6,754,140) | 40,514 | — | 40,514 | Consolidated obligation bonds | (6,754,140) | 40,514 | — | 40,514 |
Three Months Ended | Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||
03/31/2022 | 03/31/2021 | 06/30/2022 | 06/30/2021 | 06/30/2022 | 06/30/2021 | |||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||||||||||||
Economic hedges: | Economic hedges: | Economic hedges: | ||||||||||||||||||||||||||||||||
Interest rate swaps | Interest rate swaps | $ | 60,931 | $ | 34,451 | Interest rate swaps | $ | 20,060 | $ | 11,111 | $ | 80,987 | $ | 45,554 | ||||||||||||||||||||
Interest rate caps/floors | Interest rate caps/floors | 941 | 160 | Interest rate caps/floors | 144 | (232) | 1,085 | (72) | ||||||||||||||||||||||||||
Net interest settlements | Net interest settlements | (10,374) | (12,841) | Net interest settlements | (5,470) | (13,054) | (15,844) | (25,895) | ||||||||||||||||||||||||||
Price alignment interest | Price alignment interest | (1) | 3 | 3 | 11 | |||||||||||||||||||||||||||||
Mortgage delivery commitments | Mortgage delivery commitments | (4,935) | (4,189) | Mortgage delivery commitments | (1,919) | 2,157 | (6,854) | (2,032) | ||||||||||||||||||||||||||
NET GAINS (LOSSES) ON DERIVATIVES | NET GAINS (LOSSES) ON DERIVATIVES | $ | 46,563 | $ | 17,581 | NET GAINS (LOSSES) ON DERIVATIVES | $ | 12,814 | $ | (15) | $ | 59,377 | $ | 17,566 |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||
Interest-bearing: | Interest-bearing: | Interest-bearing: | ||||||||||||||
Demand | Demand | $ | 298,835 | $ | 317,911 | Demand | $ | 290,849 | $ | 317,911 | ||||||
Overnight | Overnight | 554,000 | 530,100 | Overnight | 405,100 | 530,100 | ||||||||||
Term | Term | 5,750 | 2,750 | Term | 12,750 | 2,750 | ||||||||||
Total interest-bearing | Total interest-bearing | 858,585 | 850,761 | Total interest-bearing | 708,699 | 850,761 | ||||||||||
Non-interest-bearing: | Non-interest-bearing: | Non-interest-bearing: | ||||||||||||||
Other | Other | 78,106 | 95,446 | Other | 73,146 | 95,446 | ||||||||||
Total non-interest-bearing | Total non-interest-bearing | 78,106 | 95,446 | Total non-interest-bearing | 73,146 | 95,446 | ||||||||||
TOTAL DEPOSITS | TOTAL DEPOSITS | $ | 936,691 | $ | 946,207 | TOTAL DEPOSITS | $ | 781,845 | $ | 946,207 |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||||||||||||||
Year of Contractual Maturity | Year of Contractual Maturity | Amount | Weighted Average Interest Rate | Amount | Weighted Average Interest Rate | Year of Contractual Maturity | Amount | Weighted Average Interest Rate | Amount | Weighted Average Interest Rate | ||||||||||||||||||
Due in one year or less | Due in one year or less | $ | 21,828,700 | 0.26 | % | $ | 21,821,300 | 0.13 | % | Due in one year or less | $ | 14,909,700 | 1.20 | % | $ | 21,821,300 | 0.13 | % | ||||||||||
Due after one year through two years | Due after one year through two years | 2,836,400 | 1.03 | 2,582,600 | 1.02 | Due after one year through two years | 3,205,530 | 1.41 | 2,582,600 | 1.02 | ||||||||||||||||||
Due after two years through three years | Due after two years through three years | 3,497,700 | 1.01 | 2,435,700 | 0.90 | Due after two years through three years | 4,316,265 | 1.32 | 2,435,700 | 0.90 | ||||||||||||||||||
Due after three years through four years | Due after three years through four years | 2,190,000 | 0.85 | 1,927,100 | 0.86 | Due after three years through four years | 2,404,000 | 1.16 | 1,927,100 | 0.86 | ||||||||||||||||||
Due after four years through five years | Due after four years through five years | 3,750,500 | 1.02 | 3,766,500 | 0.89 | Due after four years through five years | 3,561,500 | 1.30 | 3,766,500 | 0.89 | ||||||||||||||||||
Thereafter | Thereafter | 5,159,550 | 1.59 | 5,125,050 | 1.57 | Thereafter | 4,944,550 | 1.70 | 5,125,050 | 1.57 | ||||||||||||||||||
Total par value | Total par value | 39,262,850 | 0.66 | % | 37,658,250 | 0.55 | % | Total par value | 33,341,545 | 1.32 | % | 37,658,250 | 0.55 | % | ||||||||||||||
Premiums | Premiums | 26,015 | 27,470 | Premiums | 23,786 | 27,470 | ||||||||||||||||||||||
Discounts | Discounts | (2,604) | (2,720) | Discounts | (2,537) | (2,720) | ||||||||||||||||||||||
Concession fees | Concession fees | (11,463) | (11,877) | Concession fees | (11,375) | (11,877) | ||||||||||||||||||||||
Hedging adjustments | Hedging adjustments | (314,077) | (40,514) | Hedging adjustments | (423,273) | (40,514) | ||||||||||||||||||||||
TOTAL | TOTAL | $ | 38,960,721 | $ | 37,630,609 | TOTAL | $ | 32,928,146 | $ | 37,630,609 |
Year of Maturity or Next Call Date | Year of Maturity or Next Call Date | 03/31/2022 | 12/31/2021 | Year of Maturity or Next Call Date | 06/30/2022 | 12/31/2021 | ||||||||||
Due in one year or less | Due in one year or less | $ | 34,337,200 | $ | 32,612,800 | Due in one year or less | $ | 28,213,200 | $ | 32,612,800 | ||||||
Due after one year through two years | Due after one year through two years | 2,109,400 | 2,224,600 | Due after one year through two years | 2,211,030 | 2,224,600 | ||||||||||
Due after two years through three years | Due after two years through three years | 1,059,200 | 1,024,200 | Due after two years through three years | 1,220,265 | 1,024,200 | ||||||||||
Due after three years through four years | Due after three years through four years | 599,000 | 565,100 | Due after three years through four years | 633,000 | 565,100 | ||||||||||
Due after four years through five years | Due after four years through five years | 646,500 | 684,500 | Due after four years through five years | 607,500 | 684,500 | ||||||||||
Thereafter | Thereafter | 511,550 | 547,050 | Thereafter | 456,550 | 547,050 | ||||||||||
TOTAL PAR VALUE | TOTAL PAR VALUE | $ | 39,262,850 | $ | 37,658,250 | TOTAL PAR VALUE | $ | 33,341,545 | $ | 37,658,250 |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||
Fixed rate | Fixed rate | $ | 18,918,850 | $ | 20,957,250 | Fixed rate | $ | 17,385,045 | $ | 20,957,250 | ||||||
Simple variable rate | Simple variable rate | 18,737,000 | 15,752,000 | Simple variable rate | 13,734,500 | 15,752,000 | ||||||||||
Step | Step | 1,607,000 | 949,000 | Step | 2,222,000 | 949,000 | ||||||||||
TOTAL PAR VALUE | TOTAL PAR VALUE | $ | 39,262,850 | $ | 37,658,250 | TOTAL PAR VALUE | $ | 33,341,545 | $ | 37,658,250 |
Carrying Value | Par Value | Weighted Average Interest Rate1 | Carrying Value | Par Value | Weighted Average Interest Rate1 | |||||||||||||||||
March 31, 2022 | $ | 7,843,651 | $ | 7,848,461 | 0.28 | % | ||||||||||||||||
June 30, 2022 | June 30, 2022 | $ | 20,076,331 | $ | 20,185,211 | 1.38 | % | |||||||||||||||
December 31, 2021 | December 31, 2021 | $ | 6,568,989 | $ | 6,569,580 | 0.04 | % | December 31, 2021 | $ | 6,568,989 | $ | 6,569,580 | 0.04 | % |
03/31/2022 | ||||||||||||||||||||||||||||||||||||||||
06/30/2022 | 06/30/2022 | |||||||||||||||||||||||||||||||||||||||
Description | Description | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Statements of Condition | Net Amounts of Assets Presented in the Statements of Condition | Gross Amounts Not Offset in the Statement of Condition1 | Net Amount | Description | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Statements of Condition | Net Amounts of Assets Presented in the Statements of Condition | Gross Amounts Not Offset in the Statement of Condition1 | Net Amount | ||||||||||||||||||||||||||||
Derivative assets: | Derivative assets: | Derivative assets: | ||||||||||||||||||||||||||||||||||||||
Uncleared derivatives | Uncleared derivatives | $ | 47,555 | $ | (43,513) | $ | 4,042 | $ | (34) | $ | 4,008 | Uncleared derivatives | $ | 86,528 | $ | (64,192) | $ | 22,336 | $ | (299) | $ | 22,037 | ||||||||||||||||||
Cleared derivatives | Cleared derivatives | 1,281 | 170,322 | 171,603 | — | 171,603 | Cleared derivatives | 3,330 | 156,183 | 159,513 | — | 159,513 | ||||||||||||||||||||||||||||
Total derivative assets | Total derivative assets | 48,836 | 126,809 | 175,645 | (34) | 175,611 | Total derivative assets | 89,858 | 91,991 | 181,849 | (299) | 181,550 | ||||||||||||||||||||||||||||
Securities purchased under agreements to resell | Securities purchased under agreements to resell | 2,100,000 | — | 2,100,000 | (2,100,000) | — | Securities purchased under agreements to resell | 2,250,000 | — | 2,250,000 | (2,250,000) | — | ||||||||||||||||||||||||||||
TOTAL | TOTAL | $ | 2,148,836 | $ | 126,809 | $ | 2,275,645 | $ | (2,100,034) | $ | 175,611 | TOTAL | $ | 2,339,858 | $ | 91,991 | $ | 2,431,849 | $ | (2,250,299) | $ | 181,550 |
12/31/2021 | ||||||||||||||||||||
Description | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Statements of Condition | Net Amounts of Assets Presented in the Statements of Condition | Gross Amounts Not Offset in the Statement of Condition1 | Net Amount | |||||||||||||||
Derivative assets: | ||||||||||||||||||||
Uncleared derivatives | $ | 16,855 | $ | (16,522) | $ | 333 | $ | (32) | $ | 301 | ||||||||||
Cleared derivatives | 195 | 156,398 | 156,593 | — | 156,593 | |||||||||||||||
Total derivative assets | 17,050 | 139,876 | 156,926 | (32) | 156,894 | |||||||||||||||
Securities purchased under agreements to resell | 1,500,000 | — | 1,500,000 | (1,500,000) | — | |||||||||||||||
TOTAL | $ | 1,517,050 | $ | 139,876 | $ | 1,656,926 | $ | (1,500,032) | $ | 156,894 |
03/31/2022 | ||||||||||||||||||||||||||||||||||
06/30/2022 | 06/30/2022 | |||||||||||||||||||||||||||||||||
Description | Description | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Statements of Condition | Net Amounts of Liabilities Presented in the Statements of Condition | Gross Amounts Not Offset in the Statement of Condition1 | Net Amount | Description | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Statements of Condition | Net Amounts of Liabilities Presented in the Statements of Condition | Gross Amounts Not Offset in the Statement of Condition1 | Net Amount | ||||||||||||||||||||||
Derivative liabilities: | Derivative liabilities: | Derivative liabilities: | ||||||||||||||||||||||||||||||||
Uncleared derivatives | Uncleared derivatives | $ | 318,054 | $ | (315,560) | $ | 2,494 | $ | (1,940) | $ | 554 | Uncleared derivatives | $ | 407,857 | $ | (402,285) | $ | 5,572 | $ | (316) | $ | 5,256 | ||||||||||||
Cleared derivatives | Cleared derivatives | 8,049 | (8,049) | — | — | — | Cleared derivatives | 43,686 | (43,686) | — | — | — | ||||||||||||||||||||||
Total derivative liabilities | Total derivative liabilities | 326,103 | (323,609) | 2,494 | (1,940) | 554 | Total derivative liabilities | 451,543 | (445,971) | 5,572 | (316) | 5,256 | ||||||||||||||||||||||
TOTAL | TOTAL | $ | 326,103 | $ | (323,609) | $ | 2,494 | $ | (1,940) | $ | 554 | TOTAL | $ | 451,543 | $ | (445,971) | $ | 5,572 | $ | (316) | $ | 5,256 |
12/31/2021 | |||||||||||||||||
Description | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Statements of Condition | Net Amounts of Liabilities Presented in the Statements of Condition | Gross Amounts Not Offset in the Statement of Condition1 | Net Amount | ||||||||||||
Derivative liabilities: | |||||||||||||||||
Uncleared derivatives | $ | 179,338 | $ | (174,758) | $ | 4,580 | $ | (45) | $ | 4,535 | |||||||
Cleared derivatives | 1,972 | (1,972) | — | — | — | ||||||||||||
Total derivative liabilities | 181,310 | (176,730) | 4,580 | (45) | 4,535 | ||||||||||||
TOTAL | $ | 181,310 | $ | (176,730) | $ | 4,580 | $ | (45) | $ | 4,535 |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||||||||||||||
Required | Actual | Required | Actual | Required | Actual | Required | Actual | |||||||||||||||||||||
Regulatory capital requirements: | Regulatory capital requirements: | Regulatory capital requirements: | ||||||||||||||||||||||||||
Risk-based capital | Risk-based capital | $ | 489,854 | $ | 2,526,508 | $ | 363,108 | $ | 2,407,762 | Risk-based capital | $ | 572,657 | $ | 2,746,499 | $ | 363,108 | $ | 2,407,762 | ||||||||||
Total regulatory capital-to-asset ratio | Total regulatory capital-to-asset ratio | 4.0 | % | 5.4 | % | 4.0 | % | 5.5 | % | Total regulatory capital-to-asset ratio | 4.0 | % | 5.2 | % | 4.0 | % | 5.5 | % | ||||||||||
Total regulatory capital | Total regulatory capital | $ | 2,029,708 | $ | 2,747,289 | $ | 1,920,850 | $ | 2,642,533 | Total regulatory capital | $ | 2,299,972 | $ | 3,018,656 | $ | 1,920,850 | $ | 2,642,533 | ||||||||||
Leverage capital ratio | Leverage capital ratio | 5.0 | % | 7.9 | % | 5.0 | % | 8.0 | % | Leverage capital ratio | 5.0 | % | 7.6 | % | 5.0 | % | 8.0 | % | ||||||||||
Leverage capital | Leverage capital | $ | 2,537,135 | $ | 4,010,543 | $ | 2,401,062 | $ | 3,846,414 | Leverage capital | $ | 2,874,965 | $ | 4,391,905 | $ | 2,401,062 | $ | 3,846,414 |
Three Months Ended | Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||
03/31/2022 | 03/31/2021 | 06/30/2022 | 06/30/2021 | 06/30/2022 | 06/30/2021 | |||||||||||||||||||||||||||||
Balance, beginning of period | Balance, beginning of period | $ | 582 | $ | 1,624 | Balance, beginning of period | $ | 559 | $ | 1,585 | $ | 582 | $ | 1,624 | ||||||||||||||||||||
Capital stock subject to mandatory redemption reclassified from equity during the period | Capital stock subject to mandatory redemption reclassified from equity during the period | 163,047 | 358,243 | Capital stock subject to mandatory redemption reclassified from equity during the period | 295,316 | 225,809 | 458,363 | 584,052 | ||||||||||||||||||||||||||
Redemption or repurchase of mandatorily redeemable capital stock during the period | Redemption or repurchase of mandatorily redeemable capital stock during the period | (163,070) | (358,290) | Redemption or repurchase of mandatorily redeemable capital stock during the period | (295,340) | (225,860) | (458,410) | (584,150) | ||||||||||||||||||||||||||
Stock dividend classified as mandatorily redeemable capital stock during the period | Stock dividend classified as mandatorily redeemable capital stock during the period | — | 8 | Stock dividend classified as mandatorily redeemable capital stock during the period | 2 | 9 | 2 | 17 | ||||||||||||||||||||||||||
Balance, end of period | Balance, end of period | $ | 559 | $ | 1,585 | Balance, end of period | $ | 537 | $ | 1,543 | $ | 537 | $ | 1,543 |
Three Months Ended | Three Months Ended | |||||||||||||||||||||||||||
Net Unrealized Gains (Losses) on Available-for-sale Securities | Defined Benefit Pension Plan | Total AOCI | Net Unrealized Gains (Losses) on Available-for-sale Securities | Defined Benefit Pension Plan | Total AOCI | |||||||||||||||||||||||
Balance at December 31, 2020 | $ | 45,196 | $ | (2,888) | $ | 42,308 | ||||||||||||||||||||||
Balance at March 31, 2021 | Balance at March 31, 2021 | $ | 74,430 | $ | (2,816) | $ | 71,614 | |||||||||||||||||||||
Other comprehensive income (loss) before reclassification: | Other comprehensive income (loss) before reclassification: | Other comprehensive income (loss) before reclassification: | ||||||||||||||||||||||||||
Unrealized gains (losses) | 29,234 | 29,234 | ||||||||||||||||||||||||||
Unrealized gains (losses)1 | Unrealized gains (losses)1 | 21,852 | 21,852 | |||||||||||||||||||||||||
Reclassifications from other comprehensive income (loss) to net income: | Reclassifications from other comprehensive income (loss) to net income: | Reclassifications from other comprehensive income (loss) to net income: | ||||||||||||||||||||||||||
Amortization of net losses - defined benefit pension plan2 | Amortization of net losses - defined benefit pension plan2 | 78 | 78 | |||||||||||||||||||||||||
Net current period other comprehensive income (loss) | Net current period other comprehensive income (loss) | 21,852 | 78 | 21,930 | ||||||||||||||||||||||||
Balance at June 30, 2021 | Balance at June 30, 2021 | $ | 96,282 | $ | (2,738) | $ | 93,544 | |||||||||||||||||||||
Amortization of net losses - defined benefit pension plan1 | 72 | 72 | ||||||||||||||||||||||||||
Net current period other comprehensive income (loss) | 29,234 | 72 | 29,306 | |||||||||||||||||||||||||
Balance at March 31, 2021 | $ | 74,430 | $ | (2,816) | $ | 71,614 | ||||||||||||||||||||||
Balance at December 31, 2021 | $ | 74,689 | $ | (2,374) | $ | 72,315 | ||||||||||||||||||||||
Balance at March 31, 2022 | Balance at March 31, 2022 | $ | 33,462 | $ | (2,312) | $ | 31,150 | |||||||||||||||||||||
Other comprehensive income (loss) before reclassification: | Other comprehensive income (loss) before reclassification: | Other comprehensive income (loss) before reclassification: | ||||||||||||||||||||||||||
Unrealized gains (losses) | Unrealized gains (losses) | (41,227) | (41,227) | Unrealized gains (losses) | (54,565) | (54,565) | ||||||||||||||||||||||
Reclassifications from other comprehensive income (loss) to net income: | Reclassifications from other comprehensive income (loss) to net income: | Reclassifications from other comprehensive income (loss) to net income: | ||||||||||||||||||||||||||
Amortization of net losses - defined benefit pension plan1 | 62 | 62 | ||||||||||||||||||||||||||
Amortization of net losses - defined benefit pension plan2 | Amortization of net losses - defined benefit pension plan2 | 62 | 62 | |||||||||||||||||||||||||
Net current period other comprehensive income (loss) | Net current period other comprehensive income (loss) | (41,227) | 62 | (41,165) | Net current period other comprehensive income (loss) | (54,565) | 62 | (54,503) | ||||||||||||||||||||
Balance at March 31, 2022 | $ | 33,462 | $ | (2,312) | $ | 31,150 | ||||||||||||||||||||||
Balance at June 30, 2022 | Balance at June 30, 2022 | $ | (21,103) | $ | (2,250) | $ | (23,353) |
Six Months Ended | ||||||||||||||
Net Unrealized Gains (Losses) on Available-for-sale Securities | Defined Benefit Pension Plan | Total AOCI | ||||||||||||
Balance at December 31, 2020 | $ | 45,196 | $ | (2,888) | $ | 42,308 | ||||||||
Other comprehensive income (loss) before reclassification: | ||||||||||||||
Unrealized gains (losses)1 | 51,086 | 51,086 | ||||||||||||
Reclassifications from other comprehensive income (loss) to net income: | ||||||||||||||
Amortization of net losses - defined benefit pension plan2 | 150 | 150 | ||||||||||||
Net current period other comprehensive income (loss) | 51,086 | 150 | 51,236 | |||||||||||
Balance at June 30, 2021 | $ | 96,282 | $ | (2,738) | $ | 93,544 | ||||||||
Balance at December 31, 2021 | $ | 74,689 | $ | (2,374) | $ | 72,315 | ||||||||
Other comprehensive income (loss) before reclassification: | ||||||||||||||
Unrealized gains (losses) | (95,792) | (95,792) | ||||||||||||
Reclassifications from other comprehensive income (loss) to net income: | ||||||||||||||
Amortization of net losses - defined benefit pension plan2 | 124 | 124 | ||||||||||||
Net current period other comprehensive income (loss) | (95,792) | 124 | (95,668) | |||||||||||
Balance at June 30, 2022 | $ | (21,103) | $ | (2,250) | $ | (23,353) |
03/31/2022 | 06/30/2022 | |||||||||||||||||||||||||||||||||||||||
Carrying Value | Total Fair Value | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral1 | Carrying Value | Total Fair Value | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral1 | |||||||||||||||||||||||||||||
Assets: | Assets: | Assets: | ||||||||||||||||||||||||||||||||||||||
Cash and due from banks | Cash and due from banks | $ | 29,264 | $ | 29,264 | $ | 29,264 | $ | — | $ | — | $ | — | Cash and due from banks | $ | 31,350 | $ | 31,350 | $ | 31,350 | $ | — | $ | — | $ | — | ||||||||||||||
Interest-bearing deposits | Interest-bearing deposits | 624,145 | 624,145 | — | 624,145 | — | — | Interest-bearing deposits | 854,271 | 854,271 | — | 854,271 | — | — | ||||||||||||||||||||||||||
Securities purchased under agreements to resell | Securities purchased under agreements to resell | 2,100,000 | 2,100,000 | — | 2,100,000 | — | — | Securities purchased under agreements to resell | 2,250,000 | 2,250,000 | — | 2,250,000 | — | — | ||||||||||||||||||||||||||
Federal funds sold | Federal funds sold | 3,100,000 | 3,100,000 | — | 3,100,000 | — | — | Federal funds sold | 5,360,000 | 5,360,000 | — | 5,360,000 | — | — | ||||||||||||||||||||||||||
Trading securities | Trading securities | 2,775,818 | 2,775,818 | — | 2,775,818 | — | — | Trading securities | 2,360,237 | 2,360,237 | — | 2,360,237 | — | — | ||||||||||||||||||||||||||
Available-for-sale securities | Available-for-sale securities | 7,846,335 | 7,846,335 | — | 7,846,335 | — | — | Available-for-sale securities | 8,143,831 | 8,143,831 | — | 8,143,831 | — | — | ||||||||||||||||||||||||||
Held-to-maturity securities | Held-to-maturity securities | 421,583 | 423,695 | — | 350,015 | 73,680 | — | Held-to-maturity securities | 399,308 | 399,737 | — | 326,836 | 72,901 | — | ||||||||||||||||||||||||||
Advances | Advances | 25,487,576 | 25,489,324 | — | 25,489,324 | — | — | Advances | 29,522,840 | 29,483,307 | — | 29,483,307 | — | — | ||||||||||||||||||||||||||
Mortgage loans held for portfolio, net of allowance | Mortgage loans held for portfolio, net of allowance | 8,021,949 | 7,494,067 | — | 7,491,143 | 2,924 | — | Mortgage loans held for portfolio, net of allowance | 8,018,930 | 7,116,503 | — | 7,114,995 | 1,508 | — | ||||||||||||||||||||||||||
Overnight loans to other FHLBanks | Overnight loans to other FHLBanks | 200,000 | 200,000 | — | 200,000 | — | — | |||||||||||||||||||||||||||||||||
Accrued interest receivable | Accrued interest receivable | 79,890 | 79,890 | — | 79,890 | — | — | Accrued interest receivable | 96,425 | 96,425 | — | 96,425 | — | — | ||||||||||||||||||||||||||
Derivative assets | Derivative assets | 175,645 | 175,645 | — | 48,836 | — | 126,809 | Derivative assets | 181,849 | 181,849 | — | 89,858 | — | 91,991 | ||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||
Deposits | Deposits | 936,691 | 936,683 | — | 936,683 | — | — | Deposits | 781,845 | 781,814 | — | 781,814 | — | — | ||||||||||||||||||||||||||
Consolidated obligation discount notes | Consolidated obligation discount notes | 7,843,651 | 7,843,233 | — | 7,843,233 | — | — | Consolidated obligation discount notes | 20,076,331 | 20,051,414 | — | 20,051,414 | — | — | ||||||||||||||||||||||||||
Consolidated obligation bonds | Consolidated obligation bonds | 38,960,721 | 38,413,389 | — | 38,413,389 | — | — | Consolidated obligation bonds | 32,928,146 | 32,069,779 | — | 32,069,779 | — | — | ||||||||||||||||||||||||||
Overnight loans from other FHLBanks | Overnight loans from other FHLBanks | 500,000 | 500,000 | — | 500,000 | — | — | |||||||||||||||||||||||||||||||||
Mandatorily redeemable capital stock | Mandatorily redeemable capital stock | 559 | 559 | 559 | — | — | — | Mandatorily redeemable capital stock | 537 | 537 | 537 | — | — | — | ||||||||||||||||||||||||||
Accrued interest payable | Accrued interest payable | 48,820 | 48,820 | — | 48,820 | — | — | Accrued interest payable | 74,572 | 74,572 | — | 74,572 | — | — | ||||||||||||||||||||||||||
Derivative liabilities | Derivative liabilities | 2,494 | 2,494 | — | 326,103 | — | (323,609) | Derivative liabilities | 5,572 | 5,572 | — | 451,543 | — | (445,971) | ||||||||||||||||||||||||||
Other Asset (Liability): | Other Asset (Liability): | Other Asset (Liability): | ||||||||||||||||||||||||||||||||||||||
Industrial revenue bonds | Industrial revenue bonds | 35,000 | 34,053 | — | 34,053 | — | — | Industrial revenue bonds | 35,000 | 33,130 | — | 33,130 | — | — | ||||||||||||||||||||||||||
Financing obligation payable | Financing obligation payable | (35,000) | (34,053) | — | (34,053) | — | — | Financing obligation payable | (35,000) | (33,130) | — | (33,130) | — | — |
12/31/2021 | ||||||||||||||||||||
Carrying Value | Total Fair Value | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral1 | |||||||||||||||
Assets: | ||||||||||||||||||||
Cash and due from banks | $ | 25,841 | $ | 25,841 | $ | 25,841 | $ | — | $ | — | $ | — | ||||||||
Interest-bearing deposits | 693,249 | 693,249 | — | 693,249 | — | — | ||||||||||||||
Securities purchased under agreements to resell | 1,500,000 | 1,500,000 | — | 1,500,000 | — | — | ||||||||||||||
Federal funds sold | 3,360,000 | 3,360,000 | — | 3,360,000 | — | — | ||||||||||||||
Trading securities | 2,339,955 | 2,339,955 | — | 2,339,955 | — | — | ||||||||||||||
Available-for-sale securities | 7,719,185 | 7,719,185 | — | 7,719,185 | — | — | ||||||||||||||
Held-to-maturity securities | 446,185 | 450,771 | — | 377,156 | 73,615 | — | ||||||||||||||
Advances | 23,484,288 | 23,567,860 | — | 23,567,860 | — | — | ||||||||||||||
Mortgage loans held for portfolio, net of allowance | 8,135,046 | 8,064,657 | — | 8,060,200 | 4,457 | — | ||||||||||||||
Accrued interest receivable | 78,032 | 78,032 | — | 78,032 | — | — | ||||||||||||||
Derivative assets | 156,926 | 156,926 | — | 17,050 | — | 139,876 | ||||||||||||||
Liabilities: | ||||||||||||||||||||
Deposits | 946,207 | 946,207 | — | 946,207 | — | — | ||||||||||||||
Consolidated obligation discount notes | 6,568,989 | 6,568,645 | — | 6,568,645 | — | — | ||||||||||||||
Consolidated obligation bonds | 37,630,609 | 37,565,481 | — | 37,565,481 | — | — | ||||||||||||||
Mandatorily redeemable capital stock | 582 | 582 | 582 | — | — | — | ||||||||||||||
Accrued interest payable | 42,753 | 42,753 | — | 42,753 | — | — | ||||||||||||||
Derivative liabilities | 4,580 | 4,580 | — | 181,310 | — | (176,730) | ||||||||||||||
Other Asset (Liability): | ||||||||||||||||||||
Industrial revenue bonds | 35,000 | 36,114 | — | 36,114 | — | — | ||||||||||||||
Financing obligation payable | (35,000) | (36,114) | — | (36,114) | — | — |
03/31/2022 | 06/30/2022 | |||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral1 | Total | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral1 | |||||||||||||||||||||||||
Recurring fair value measurements - Assets: | Recurring fair value measurements - Assets: | Recurring fair value measurements - Assets: | ||||||||||||||||||||||||||||||||
Trading securities: | Trading securities: | Trading securities: | ||||||||||||||||||||||||||||||||
Certificates of deposit | Certificates of deposit | $ | 700,211 | $ | — | $ | 700,211 | $ | — | $ | — | Certificates of deposit | $ | 639,786 | $ | — | $ | 639,786 | $ | — | $ | — | ||||||||||||
U.S. Treasury obligations | U.S. Treasury obligations | 905,038 | — | 905,038 | — | — | U.S. Treasury obligations | 649,108 | — | 649,108 | — | — | ||||||||||||||||||||||
GSE debentures | GSE debentures | 401,915 | — | 401,915 | — | — | GSE debentures | 396,487 | — | 396,487 | — | — | ||||||||||||||||||||||
GSE MBS | GSE MBS | 768,654 | — | 768,654 | — | — | GSE MBS | 674,856 | — | 674,856 | — | — | ||||||||||||||||||||||
Total trading securities | Total trading securities | 2,775,818 | — | 2,775,818 | — | — | Total trading securities | 2,360,237 | — | 2,360,237 | — | — | ||||||||||||||||||||||
Available-for-sale securities: | Available-for-sale securities: | Available-for-sale securities: | ||||||||||||||||||||||||||||||||
U.S. Treasury obligations | U.S. Treasury obligations | 2,788,059 | — | 2,788,059 | — | — | U.S. Treasury obligations | 2,835,439 | — | 2,835,439 | — | — | ||||||||||||||||||||||
U.S. obligation MBS | U.S. obligation MBS | 46,817 | — | 46,817 | — | — | U.S. obligation MBS | 43,690 | — | 43,690 | — | — | ||||||||||||||||||||||
GSE MBS | GSE MBS | 5,011,459 | — | 5,011,459 | — | — | GSE MBS | 5,264,702 | — | 5,264,702 | — | — | ||||||||||||||||||||||
Total available-for-sale securities | Total available-for-sale securities | 7,846,335 | — | 7,846,335 | — | — | Total available-for-sale securities | 8,143,831 | — | 8,143,831 | — | — | ||||||||||||||||||||||
Derivative assets: | Derivative assets: | Derivative assets: | ||||||||||||||||||||||||||||||||
Interest-rate related | Interest-rate related | 175,611 | — | 48,802 | — | 126,809 | Interest-rate related | 181,550 | — | 89,559 | — | 91,991 | ||||||||||||||||||||||
Mortgage delivery commitments | Mortgage delivery commitments | 34 | — | 34 | — | — | Mortgage delivery commitments | 299 | — | 299 | — | — | ||||||||||||||||||||||
Total derivative assets | Total derivative assets | 175,645 | — | 48,836 | — | 126,809 | Total derivative assets | 181,849 | — | 89,858 | — | 91,991 | ||||||||||||||||||||||
TOTAL RECURRING FAIR VALUE MEASUREMENTS - ASSETS | TOTAL RECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 10,797,798 | $ | — | $ | 10,670,989 | $ | — | $ | 126,809 | TOTAL RECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 10,685,917 | $ | — | $ | 10,593,926 | $ | — | $ | 91,991 | ||||||||||||
Recurring fair value measurements - Liabilities: | Recurring fair value measurements - Liabilities: | Recurring fair value measurements - Liabilities: | ||||||||||||||||||||||||||||||||
Derivative liabilities: | Derivative liabilities: | Derivative liabilities: | ||||||||||||||||||||||||||||||||
Interest-rate related | Interest-rate related | $ | 554 | $ | — | $ | 324,163 | $ | — | $ | (323,609) | Interest-rate related | $ | 5,256 | $ | — | $ | 451,227 | $ | — | $ | (445,971) | ||||||||||||
Mortgage delivery commitments | Mortgage delivery commitments | 1,940 | — | 1,940 | — | — | Mortgage delivery commitments | 316 | — | 316 | — | — | ||||||||||||||||||||||
Total derivative liabilities | Total derivative liabilities | 2,494 | — | 326,103 | — | (323,609) | Total derivative liabilities | 5,572 | — | 451,543 | — | (445,971) | ||||||||||||||||||||||
TOTAL RECURRING FAIR VALUE MEASUREMENTS - LIABILITIES | TOTAL RECURRING FAIR VALUE MEASUREMENTS - LIABILITIES | $ | 2,494 | $ | — | $ | 326,103 | $ | — | $ | (323,609) | TOTAL RECURRING FAIR VALUE MEASUREMENTS - LIABILITIES | $ | 5,572 | $ | — | $ | 451,543 | $ | — | $ | (445,971) | ||||||||||||
Nonrecurring fair value measurements - Assets2: | Nonrecurring fair value measurements - Assets2: | Nonrecurring fair value measurements - Assets2: | ||||||||||||||||||||||||||||||||
Impaired mortgage loans | Impaired mortgage loans | $ | 2,974 | $ | — | $ | — | $ | 2,974 | $ | — | Impaired mortgage loans | $ | 1,533 | $ | — | $ | — | $ | 1,533 | $ | — | ||||||||||||
TOTAL NONRECURRING FAIR VALUE MEASUREMENTS - ASSETS | TOTAL NONRECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 2,974 | $ | — | $ | — | $ | 2,974 | $ | — | TOTAL NONRECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 1,533 | $ | — | $ | — | $ | 1,533 | $ | — |
12/31/2021 | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral1 | |||||||||||||
Recurring fair value measurements - Assets: | |||||||||||||||||
Trading securities: | |||||||||||||||||
Certificates of deposit | $ | 200,023 | $ | — | $ | 200,023 | $ | — | $ | — | |||||||
U.S. Treasury obligations | 917,472 | — | 917,472 | — | — | ||||||||||||
GSE debentures | 415,918 | — | 415,918 | — | — | ||||||||||||
GSE MBS | 806,542 | — | 806,542 | — | — | ||||||||||||
Total trading securities | 2,339,955 | — | 2,339,955 | — | — | ||||||||||||
Available-for-sale securities: | |||||||||||||||||
U.S. Treasury obligations | 2,816,437 | — | 2,816,437 | — | — | ||||||||||||
U.S. obligation MBS | 50,767 | — | 50,767 | — | — | ||||||||||||
GSE MBS | 4,851,981 | — | 4,851,981 | — | — | ||||||||||||
Total available-for-sale securities | 7,719,185 | — | 7,719,185 | — | — | ||||||||||||
Derivative assets: | |||||||||||||||||
Interest-rate related | 156,894 | — | 17,018 | — | 139,876 | ||||||||||||
Mortgage delivery commitments | 32 | — | 32 | — | — | ||||||||||||
Total derivative assets | 156,926 | — | 17,050 | — | 139,876 | ||||||||||||
TOTAL RECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 10,216,066 | $ | — | $ | 10,076,190 | $ | — | $ | 139,876 | |||||||
Recurring fair value measurements - Liabilities: | |||||||||||||||||
Derivative liabilities: | |||||||||||||||||
Interest-rate related | $ | 4,535 | $ | — | $ | 181,265 | $ | — | $ | (176,730) | |||||||
Mortgage delivery commitments | 45 | — | 45 | — | — | ||||||||||||
Total derivative liabilities | 4,580 | — | 181,310 | — | (176,730) | ||||||||||||
TOTAL RECURRING FAIR VALUE MEASUREMENTS - LIABILITIES | $ | 4,580 | $ | — | $ | 181,310 | $ | — | $ | (176,730) | |||||||
Nonrecurring fair value measurements - Assets2: | |||||||||||||||||
Impaired mortgage loans | $ | 4,510 | $ | — | $ | — | $ | 4,510 | $ | — | |||||||
Real estate owned | 52 | — | — | 52 | — | ||||||||||||
TOTAL NONRECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 4,562 | $ | — | $ | — | $ | 4,562 | $ | — |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||||||||||||||||||||||||||
Notional Amount | Notional Amount | Expire Within One Year | Expire After One Year | Total | Expire Within One Year | Expire After One Year | Total | Notional Amount | Expire Within One Year | Expire After One Year | Total | Expire Within One Year | Expire After One Year | Total | ||||||||||||||||||||||||||
Standby letters of credit outstanding | Standby letters of credit outstanding | $ | 4,835,558 | $ | 1,983 | $ | 4,837,541 | $ | 5,206,182 | $ | 1,983 | $ | 5,208,165 | Standby letters of credit outstanding | $ | 4,904,546 | $ | 842 | $ | 4,905,388 | $ | 5,206,182 | $ | 1,983 | $ | 5,208,165 | ||||||||||||||
Advance commitments outstanding | Advance commitments outstanding | 32,901 | 3,905 | 36,806 | 21,001 | 3,905 | 24,906 | Advance commitments outstanding | 22,465 | 3,905 | 26,370 | 21,001 | 3,905 | 24,906 | ||||||||||||||||||||||||||
Principal commitments for standby bond purchase agreements | Principal commitments for standby bond purchase agreements | 102,980 | 667,715 | 770,695 | — | 727,200 | 727,200 | Principal commitments for standby bond purchase agreements | 102,980 | 691,865 | 794,845 | — | 727,200 | 727,200 | ||||||||||||||||||||||||||
Commitments to fund or purchase mortgage loans | Commitments to fund or purchase mortgage loans | 129,831 | — | 129,831 | 72,025 | — | 72,025 | Commitments to fund or purchase mortgage loans | 101,659 | — | 101,659 | 72,025 | — | 72,025 | ||||||||||||||||||||||||||
Commitments to issue consolidated bonds, at par | Commitments to issue consolidated bonds, at par | 395,000 | — | 395,000 | 635,000 | — | 635,000 | Commitments to issue consolidated bonds, at par | 140,000 | — | 140,000 | 635,000 | — | 635,000 | ||||||||||||||||||||||||||
Commitments to issue consolidated discount notes, at par | Commitments to issue consolidated discount notes, at par | 2,813,716 | — | 2,813,716 | — | — | — | Commitments to issue consolidated discount notes, at par | 555,250 | — | 555,250 | — | — | — |
03/31/2022 | ||||||||||||||||||||||||||||||||||||||||||||||
06/30/2022 | 06/30/2022 | |||||||||||||||||||||||||||||||||||||||||||||
Member Name | Member Name | State | Total Class A Stock Par Value | Percent of Total Class A | Total Class B Stock Par Value | Percent of Total Class B | Total Capital Stock Par Value | Percent of Total Capital Stock | Member Name | State | Total Class A Stock Par Value | Percent of Total Class A | Total Class B Stock Par Value | Percent of Total Class B | Total Capital Stock Par Value | Percent of Total Capital Stock | ||||||||||||||||||||||||||||||
MidFirst Bank | MidFirst Bank | OK | $ | 500 | 0.2 | % | $ | 440,988 | 32.6 | % | $ | 441,488 | 28.0�� | % | MidFirst Bank | OK | $ | 549 | 0.2 | % | $ | 402,887 | 26.0 | % | $ | 403,436 | 22.1 | % | ||||||||||||||||||
TOTAL | TOTAL | $ | 500 | 0.2 | % | $ | 440,988 | 32.6 | % | $ | 441,488 | 28.0 | % | TOTAL | $ | 549 | 0.2 | % | $ | 402,887 | 26.0 | % | $ | 403,436 | 22.1 | % |
12/31/2021 | |||||||||||||||||||||||
Member Name | State | Total Class A Stock Par Value | Percent of Total Class A | Total Class B Stock Par Value | Percent of Total Class B | Total Capital Stock Par Value | Percent of Total Capital Stock | ||||||||||||||||
MidFirst Bank | OK | $ | 500 | 0.2 | % | $ | 413,430 | 32.7 | % | $ | 413,930 | 27.6 | % | ||||||||||
TOTAL | $ | 500 | 0.2 | % | $ | 413,430 | 32.7 | % | $ | 413,930 | 27.6 | % |
03/31/2022 | 12/31/2021 | 03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||||||||||||||||||||||||||||||||||
Member Name | Member Name | Outstanding Advances | Percent of Total | Outstanding Advances | Percent of Total | Outstanding Deposits | Percent of Total | Outstanding Deposits | Percent of Total | Member Name | Outstanding Advances | Percent of Total | Outstanding Advances | Percent of Total | Outstanding Deposits | Percent of Total | Outstanding Deposits | Percent of Total | ||||||||||||||||||||||||||||||||||
MidFirst Bank | MidFirst Bank | $ | 9,810,000 | 38.3 | % | $ | 9,045,000 | 38.6 | % | $ | 542 | 0.1 | % | $ | 517 | 0.1 | % | MidFirst Bank | $ | 8,815,000 | 29.6 | % | $ | 9,045,000 | 38.6 | % | $ | 946 | 0.1 | % | $ | 517 | 0.1 | % | ||||||||||||||||||
TOTAL | TOTAL | $ | 9,810,000 | 38.3 | % | $ | 9,045,000 | 38.6 | % | $ | 542 | 0.1 | % | $ | 517 | 0.1 | % | TOTAL | $ | 8,815,000 | 29.6 | % | $ | 9,045,000 | 38.6 | % | $ | 946 | 0.1 | % | $ | 517 | 0.1 | % |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||||||||||||||
Outstanding Amount | Percent of Total | Outstanding Amount | Percent of Total | Outstanding Amount | Percent of Total | Outstanding Amount | Percent of Total | |||||||||||||||||||||
Advances | Advances | $ | 171,563 | 0.7 | % | $ | 180,099 | 0.8 | % | Advances | $ | 149,122 | 0.5 | % | $ | 180,099 | 0.8 | % | ||||||||||
Deposits | Deposits | $ | 12,650 | 1.4 | % | $ | 15,613 | 1.6 | % | Deposits | $ | 7,896 | 1.0 | % | $ | 15,613 | 1.6 | % | ||||||||||
Class A Common Stock | Class A Common Stock | $ | 5,285 | 2.4 | % | $ | 4,655 | 2.0 | % | Class A Common Stock | $ | 4,624 | 1.7 | % | $ | 4,655 | 2.0 | % | ||||||||||
Class B Common Stock | Class B Common Stock | 16,216 | 1.2 | 17,056 | 1.3 | Class B Common Stock | 10,431 | 0.7 | 17,056 | 1.3 | ||||||||||||||||||
TOTAL CAPITAL STOCK | TOTAL CAPITAL STOCK | $ | 21,501 | 1.4 | % | $ | 21,711 | 1.4 | % | TOTAL CAPITAL STOCK | $ | 15,055 | 0.8 | % | $ | 21,711 | 1.4 | % |
Three Months Ended | ||||||||||||||||||||||||||
03/31/2022 | 03/31/2021 | |||||||||||||||||||||||||
Amount | Percent of Total | Amount | Percent of Total | |||||||||||||||||||||||
Mortgage loans acquired | $ | 5,577 | 2.0 | % | $ | 8,083 | 1.5 | % |
Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
06/30/2022 | 06/30/2021 | 06/30/2022 | 06/30/2021 | |||||||||||||||||||||||
Amount | Percent of Total | Amount | Percent of Total | Amount | Percent of Total | Amount | Percent of Total | |||||||||||||||||||
Mortgage loans acquired | $ | 5,719 | 1.8 | % | $ | 10,888 | 1.9 | % | $ | 11,296 | 1.9 | % | $ | 18,971 | 1.7 | % |
03/31/2022 | 12/31/2021 | 09/30/2021 | 06/30/2021 | 03/31/2021 | 06/30/2022 | 03/31/2022 | 12/31/2021 | 09/30/2021 | 06/30/2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement of Condition (as of period end): | Statement of Condition (as of period end): | Statement of Condition (as of period end): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | Total assets | $ | 50,742,692 | $ | 48,021,238 | $ | 45,516,223 | $ | 46,310,400 | $ | 48,500,428 | Total assets | $ | 57,499,300 | $ | 50,742,692 | $ | 48,021,238 | $ | 45,516,223 | $ | 46,310,400 | ||||||||||||||||||||||||||||||||||||||||||
Investments1 | Investments1 | 16,867,881 | 16,058,574 | 15,459,093 | 16,248,714 | 18,361,631 | Investments1 | 19,367,647 | 16,867,881 | 16,058,574 | 15,459,093 | 16,248,714 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Advances | Advances | 25,487,576 | 23,484,288 | 21,411,103 | 20,995,508 | 21,068,366 | Advances | 29,522,840 | 25,487,576 | 23,484,288 | 21,411,103 | 20,995,508 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage loans, net | Mortgage loans, net | 8,021,949 | 8,135,046 | 8,315,791 | 8,328,063 | 8,667,085 | Mortgage loans, net | 8,018,930 | 8,021,949 | 8,135,046 | 8,315,791 | 8,328,063 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | Total liabilities | 47,964,812 | 45,306,972 | 42,945,027 | 43,663,829 | 45,809,375 | Total liabilities | 54,504,534 | 47,964,812 | 45,306,972 | 42,945,027 | 43,663,829 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Deposits | Deposits | 936,691 | 946,207 | 1,033,557 | 1,088,865 | 1,262,945 | Deposits | 781,845 | 936,691 | 946,207 | 1,033,557 | 1,088,865 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated obligations, net2 | Consolidated obligations, net2 | 46,804,372 | 44,199,598 | 41,755,017 | 42,418,168 | 44,386,696 | Consolidated obligations, net2 | 53,004,477 | 46,804,372 | 44,199,598 | 41,755,017 | 42,418,168 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total capital | Total capital | 2,777,880 | 2,714,266 | 2,571,196 | 2,646,571 | 2,691,053 | Total capital | 2,994,766 | 2,777,880 | 2,714,266 | 2,571,196 | 2,646,571 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital stock | Capital stock | 1,574,157 | 1,499,301 | 1,382,482 | 1,456,736 | 1,540,365 | Capital stock | 1,821,016 | 1,574,157 | 1,499,301 | 1,382,482 | 1,456,736 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Retained earnings | Retained earnings | 1,172,573 | 1,142,650 | 1,117,560 | 1,096,291 | 1,079,074 | Retained earnings | 1,197,103 | 1,172,573 | 1,142,650 | 1,117,560 | 1,096,291 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement of Income (for the quarterly period ended): | Statement of Income (for the quarterly period ended): | Statement of Income (for the quarterly period ended): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest income | Net interest income | 85,075 | 82,789 | 73,260 | 67,230 | 73,369 | Net interest income | 83,226 | 85,075 | 82,789 | 73,260 | 67,230 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other income (loss) | Other income (loss) | (9,509) | (10,638) | (14,758) | (10,146) | (5,892) | Other income (loss) | (7,652) | (9,509) | (10,638) | (14,758) | (10,146) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other expenses | Other expenses | 19,878 | 22,051 | 18,628 | 18,145 | 18,705 | Other expenses | 19,725 | 19,878 | 22,051 | 18,628 | 18,145 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before assessments | Income before assessments | 55,995 | 51,488 | 41,534 | 36,627 | 48,786 | Income before assessments | 55,957 | 55,995 | 51,488 | 41,534 | 36,627 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Affordable Housing Program (AHP) assessments | Affordable Housing Program (AHP) assessments | 5,600 | 5,148 | 4,154 | 3,663 | 4,880 | Affordable Housing Program (AHP) assessments | 5,596 | 5,600 | 5,148 | 4,154 | 3,663 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | Net income | 50,395 | 46,340 | 37,380 | 32,964 | 43,906 | Net income | 50,361 | 50,395 | 46,340 | 37,380 | 32,964 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Selected Financial Ratios and Other Financial Data (for the quarterly period ended): | Selected Financial Ratios and Other Financial Data (for the quarterly period ended): | Selected Financial Ratios and Other Financial Data (for the quarterly period ended): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends paid | Dividends paid | 20,472 | 21,250 | 16,111 | 15,747 | 16,287 | Dividends paid | 25,831 | 20,472 | 21,250 | 16,111 | 15,747 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted average dividend rate3 | Weighted average dividend rate3 | 4.88 | % | 5.62 | % | 4.15 | % | 4.06 | % | 4.15 | % | Weighted average dividend rate3 | 5.63 | % | 4.88 | % | 5.62 | % | 4.15 | % | 4.06 | % | ||||||||||||||||||||||||||||||||||||||||||
Dividend payout ratio4 | Dividend payout ratio4 | 40.62 | % | 45.86 | % | 43.10 | % | 47.77 | % | 37.10 | % | Dividend payout ratio4 | 51.29 | % | 40.62 | % | 45.86 | % | 43.10 | % | 47.77 | % | ||||||||||||||||||||||||||||||||||||||||||
Return on average equity | Return on average equity | 6.98 | % | 6.77 | % | 5.40 | % | 4.83 | % | 6.55 | % | Return on average equity | 6.60 | % | 6.98 | % | 6.77 | % | 5.40 | % | 4.83 | % | ||||||||||||||||||||||||||||||||||||||||||
Return on average assets | Return on average assets | 0.39 | % | 0.38 | % | 0.31 | % | 0.27 | % | 0.35 | % | Return on average assets | 0.35 | % | 0.39 | % | 0.38 | % | 0.31 | % | 0.27 | % | ||||||||||||||||||||||||||||||||||||||||||
Average equity to average assets | Average equity to average assets | 5.59 | % | 5.58 | % | 5.71 | % | 5.56 | % | 5.32 | % | Average equity to average assets | 5.37 | % | 5.59 | % | 5.58 | % | 5.71 | % | 5.56 | % | ||||||||||||||||||||||||||||||||||||||||||
Net interest margin5 | Net interest margin5 | 0.66 | % | 0.68 | % | 0.61 | % | 0.55 | % | 0.59 | % | Net interest margin5 | 0.59 | % | 0.66 | % | 0.68 | % | 0.61 | % | 0.55 | % | ||||||||||||||||||||||||||||||||||||||||||
Total capital ratio6 | Total capital ratio6 | 5.47 | % | 5.65 | % | 5.65 | % | 5.71 | % | 5.55 | % | Total capital ratio6 | 5.21 | % | 5.47 | % | 5.65 | % | 5.65 | % | 5.71 | % | ||||||||||||||||||||||||||||||||||||||||||
Regulatory capital ratio7 | Regulatory capital ratio7 | 5.41 | % | 5.50 | % | 5.49 | % | 5.52 | % | 5.40 | % | Regulatory capital ratio7 | 5.25 | % | 5.41 | % | 5.50 | % | 5.49 | % | 5.52 | % |
03/31/2022 | 03/31/2021 | 03/31/2022 | 12/31/2021 | 03/31/2021 | 06/30/2022 | 06/30/2021 | 06/30/2022 | 06/30/2021 | 06/30/2022 | 12/31/2021 | 06/30/2021 | |||||||||||||||||||||||||||||||||||
Market Instrument | Market Instrument | Three-month | Ending | Ending | Market Instrument | Three-month | Six-month | Ending | Ending | |||||||||||||||||||||||||||||||||||||
Average | Rate | Rate | Average | Rate | Rate | |||||||||||||||||||||||||||||||||||||||||
Secured Overnight Financing Rate1 | Secured Overnight Financing Rate1 | 0.09 | % | 0.04 | % | 0.29 | % | 0.05 | % | 0.01 | % | Secured Overnight Financing Rate1 | 0.71 | % | 0.02 | % | 0.40 | % | 0.03 | % | 1.50 | % | 0.05 | % | 0.05 | % | ||||||||||||||||||||
Federal funds effective rate1 | Federal funds effective rate1 | 0.12 | 0.08 | 0.33 | 0.07 | 0.06 | Federal funds effective rate1 | 0.76 | 0.07 | 0.44 | 0.07 | 1.58 | 0.07 | 0.08 | ||||||||||||||||||||||||||||||||
Federal Reserve interest rate on excess reserves1 | 0.19 | 0.10 | 0.40 | 0.15 | 0.10 | |||||||||||||||||||||||||||||||||||||||||
Federal Reserve interest rate on reserve balances1 | Federal Reserve interest rate on reserve balances1 | 0.84 | 0.11 | 0.52 | 0.10 | 1.65 | 0.15 | 0.15 | ||||||||||||||||||||||||||||||||||||||
3-month U.S. Treasury bill1 | 3-month U.S. Treasury bill1 | 0.29 | 0.04 | 0.50 | 0.04 | 0.02 | 3-month U.S. Treasury bill1 | 1.07 | 0.02 | 0.68 | 0.03 | 1.67 | 0.04 | 0.04 | ||||||||||||||||||||||||||||||||
3-month LIBOR1 | 3-month LIBOR1 | 0.52 | 0.20 | 0.96 | 0.21 | 0.19 | 3-month LIBOR1 | 1.53 | 0.16 | 1.01 | 0.18 | 2.29 | 0.21 | 0.15 | ||||||||||||||||||||||||||||||||
2-year U.S. Treasury note1 | 2-year U.S. Treasury note1 | 1.45 | 0.13 | 2.34 | 0.73 | 0.16 | 2-year U.S. Treasury note1 | 2.72 | 0.17 | 2.08 | 0.15 | 2.96 | 0.73 | 0.25 | ||||||||||||||||||||||||||||||||
5-year U.S. Treasury note1 | 5-year U.S. Treasury note1 | 1.83 | 0.61 | 2.46 | 1.26 | 0.94 | 5-year U.S. Treasury note1 | 2.95 | 0.83 | 2.39 | 0.72 | 3.04 | 1.26 | 0.89 | ||||||||||||||||||||||||||||||||
10-year U.S. Treasury note1 | 10-year U.S. Treasury note1 | 1.95 | 1.32 | 2.34 | 1.51 | 1.74 | 10-year U.S. Treasury note1 | 2.93 | 1.58 | 2.43 | 1.45 | 3.02 | 1.51 | 1.47 | ||||||||||||||||||||||||||||||||
30-year residential mortgage note rate1,2 | 30-year residential mortgage note rate1,2 | 4.03 | 3.10 | 4.80 | 3.33 | 3.33 | 30-year residential mortgage note rate1,2 | 5.43 | 3.19 | 4.71 | 3.13 | 5.84 | 3.33 | 3.20 |
Increase (Decrease) in Earnings Components | ||||||||||||||||||||||||||||
2022 vs. 2021 | ||||||||||||||||||||||||||||
Increase (Decrease) in Earnings Components | ||||||||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||||||||
06/30/2022 vs. 06/30/2021 | 06/30/2022 vs. 06/30/2021 | |||||||||||||||||||||||||||
Dollar Change | Percentage Change | Dollar Change | Percentage Change | Dollar Change | Percentage Change | |||||||||||||||||||||||
Total interest income | Total interest income | $ | 1,802 | 1.5 | % | Total interest income | $ | 83,477 | 76.7 | % | $ | 85,279 | 36.9 | % | ||||||||||||||
Total interest expense | Total interest expense | (9,904) | (20.3) | Total interest expense | 67,481 | 162.3 | 57,577 | 63.6 | ||||||||||||||||||||
Net interest income | Net interest income | 11,706 | 16.0 | Net interest income | 15,996 | 23.8 | 27,702 | 19.7 | ||||||||||||||||||||
Provision (reversal) for credit losses on mortgage loans | Provision (reversal) for credit losses on mortgage loans | (293) | (2,092.9) | Provision (reversal) for credit losses on mortgage loans | (2,420) | (104.7) | (2,713) | (118.1) | ||||||||||||||||||||
Net interest income after mortgage loan loss provision | Net interest income after mortgage loan loss provision | 11,999 | 16.4 | Net interest income after mortgage loan loss provision | 18,416 | 28.4 | 30,415 | 22.0 | ||||||||||||||||||||
Net gains (losses) on trading securities | Net gains (losses) on trading securities | (32,741) | (122.4) | Net gains (losses) on trading securities | (9,928) | (74.0) | (42,669) | (106.3) | ||||||||||||||||||||
Net gains (losses) on derivatives | Net gains (losses) on derivatives | 28,982 | 164.8 | Net gains (losses) on derivatives | 12,829 | 85,526.7 | 41,811 | 238.0 | ||||||||||||||||||||
Other non-interest income | Other non-interest income | 142 | 4.3 | Other non-interest income | (407) | (12.4) | (265) | (4.0) | ||||||||||||||||||||
Total other income (loss) | Total other income (loss) | (3,617) | (61.4) | Total other income (loss) | 2,494 | 24.6 | (1,123) | (7.0) | ||||||||||||||||||||
Operating expenses | Operating expenses | 990 | 6.8 | Operating expenses | 1,385 | 9.7 | 2,375 | 8.2 | ||||||||||||||||||||
Other non-interest expenses | Other non-interest expenses | 183 | 4.4 | Other non-interest expenses | 195 | 5.0 | 378 | 4.7 | ||||||||||||||||||||
Total other expenses | Total other expenses | 1,173 | 6.3 | Total other expenses | 1,580 | 8.7 | 2,753 | 7.5 | ||||||||||||||||||||
AHP assessments | AHP assessments | 720 | 14.8 | AHP assessments | 1,933 | 52.8 | 2,653 | 31.1 | ||||||||||||||||||||
NET INCOME | NET INCOME | $ | 6,489 | 14.8 | % | NET INCOME | $ | 17,397 | 52.8 | % | $ | 23,886 | 31.1 | % |
Three Months Ended 06/30/2022 | |||||||||||||||||||||||
Advances | Investments | Mortgage Loans | Consolidated Obligation Discount Notes | Consolidated Obligation Bonds | Total | ||||||||||||||||||
Unrealized gains (losses) due to fair value changes | $ | 77 | $ | 3,120 | $ | — | $ | 1,224 | $ | (377) | $ | 4,044 | |||||||||||
Net amortization/accretion of hedging activities | (559) | — | 138 | — | — | (421) | |||||||||||||||||
Net interest received (paid) | (7,947) | (15,149) | — | 6,251 | 11,777 | (5,068) | |||||||||||||||||
Price alignment amount | (378) | (330) | — | 10 | 5 | (693) | |||||||||||||||||
TOTAL | $ | (8,807) | $ | (12,359) | $ | 138 | $ | 7,485 | $ | 11,405 | $ | (2,138) |
Three Months Ended 06/30/2021 | |||||||||||||||||||||||
Advances | Investments | Mortgage Loans | Consolidated Obligation Discount Notes | Consolidated Obligation Bonds | Total | ||||||||||||||||||
Unrealized gains (losses) due to fair value changes | $ | (755) | $ | (971) | $ | — | $ | (32) | $ | (173) | $ | (1,931) | |||||||||||
Net amortization/accretion of hedging activities | (708) | — | (817) | — | — | (1,525) | |||||||||||||||||
Net interest received (paid) | (16,534) | (25,907) | — | 3 | 8,524 | (33,914) | |||||||||||||||||
Price alignment amount | 3 | 6 | — | — | — | 9 | |||||||||||||||||
TOTAL | $ | (17,994) | $ | (26,872) | $ | (817) | $ | (29) | $ | 8,351 | $ | (37,361) |
Three Months Ended 03/31/2022 | Six Months Ended 06/30/2022 | |||||||||||||||||||||||||||||||||||||||||||||
Advances | Investments | Mortgage Loans | Consolidated Obligation Discount Notes | Consolidated Obligation Bonds | Total | Advances | Investments | Mortgage Loans | Consolidated Obligation Discount Notes | Consolidated Obligation Bonds | Total | |||||||||||||||||||||||||||||||||||
Unrealized gains (losses) due to fair value changes | Unrealized gains (losses) due to fair value changes | $ | 2,129 | $ | 2,467 | $ | — | $ | 232 | $ | 2,067 | $ | 6,895 | Unrealized gains (losses) due to fair value changes | $ | 2,206 | $ | 5,587 | $ | — | $ | 1,456 | $ | 1,690 | $ | 10,939 | ||||||||||||||||||||
Net amortization/accretion of hedging activities | Net amortization/accretion of hedging activities | (560) | — | 172 | — | — | (388) | Net amortization/accretion of hedging activities | (1,119) | — | 310 | — | — | (809) | ||||||||||||||||||||||||||||||||
Net interest received (paid) | Net interest received (paid) | (15,288) | (22,341) | — | 392 | 15,933 | (21,304) | Net interest received (paid) | (23,235) | (37,490) | — | 6,643 | 27,710 | (26,372) | ||||||||||||||||||||||||||||||||
Price alignment amount | Price alignment amount | (17) | (7) | — | — | — | (24) | Price alignment amount | (395) | (337) | — | 10 | 5 | (717) | ||||||||||||||||||||||||||||||||
TOTAL | TOTAL | $ | (13,736) | $ | (19,881) | $ | 172 | $ | 624 | $ | 18,000 | $ | (14,821) | TOTAL | $ | (22,543) | $ | (32,240) | $ | 310 | $ | 8,109 | $ | 29,405 | $ | (16,959) |
Three Months Ended 03/31/2021 | Six Months Ended 06/30/2021 | |||||||||||||||||||||||||||||||||||||||||||||
Advances | Investments | Mortgage Loans | Consolidated Obligation Discount Notes | Consolidated Obligation Bonds | Total | Advances | Investments | Mortgage Loans | Consolidated Obligation Discount Notes | Consolidated Obligation Bonds | Total | |||||||||||||||||||||||||||||||||||
Unrealized gains (losses) due to fair value changes | Unrealized gains (losses) due to fair value changes | $ | 2,293 | $ | 3,854 | $ | — | $ | 1 | $ | 13 | $ | 6,161 | Unrealized gains (losses) due to fair value changes | $ | 1,538 | $ | 2,883 | $ | — | $ | (31) | $ | (160) | $ | 4,230 | ||||||||||||||||||||
Net amortization/accretion of hedging activities | Net amortization/accretion of hedging activities | (634) | — | (86) | — | — | (720) | Net amortization/accretion of hedging activities | (1,342) | — | (903) | — | — | (2,245) | ||||||||||||||||||||||||||||||||
Net interest received (paid) | Net interest received (paid) | (16,313) | (27,241) | — | 8 | 7,317 | (36,229) | Net interest received (paid) | (32,847) | (53,148) | — | 11 | 15,841 | (70,143) | ||||||||||||||||||||||||||||||||
Price alignment amount | Price alignment amount | 14 | 22 | — | — | (3) | 33 | Price alignment amount | 17 | 28 | — | — | (3) | 42 | ||||||||||||||||||||||||||||||||
TOTAL | TOTAL | $ | (14,640) | $ | (23,365) | $ | (86) | $ | 9 | $ | 7,327 | $ | (30,755) | TOTAL | $ | (32,634) | $ | (50,237) | $ | (903) | $ | (20) | $ | 15,678 | $ | (68,116) |
Three Months Ended | Three Months Ended | |||||||||||||||||||||||||||||||||||||||
03/31/2022 | 03/31/2021 | 06/30/2022 | 06/30/2021 | |||||||||||||||||||||||||||||||||||||
Average Balance | Interest Income/ Expense | Yield | Average Balance | Interest Income/ Expense | Yield | Average Balance | Interest Income/ Expense | Yield | Average Balance | Interest Income/ Expense | Yield | |||||||||||||||||||||||||||||
Interest-earning assets: | Interest-earning assets: | Interest-earning assets: | ||||||||||||||||||||||||||||||||||||||
Interest-bearing deposits | Interest-bearing deposits | $ | 1,118,709 | $ | 376 | 0.14 | % | $ | 1,082,671 | $ | 269 | 0.10 | % | Interest-bearing deposits | $ | 1,289,312 | $ | 2,367 | 0.74 | % | $ | 901,716 | $ | 215 | 0.10 | % | ||||||||||||||
Securities purchased under agreements to resell | Securities purchased under agreements to resell | 1,648,378 | 536 | 0.13 | 2,294,456 | 489 | 0.09 | Securities purchased under agreements to resell | 2,531,978 | 5,251 | 0.83 | 2,358,308 | 401 | 0.07 | ||||||||||||||||||||||||||
Federal funds sold | Federal funds sold | 2,471,089 | 794 | 0.13 | 2,742,911 | 520 | 0.08 | Federal funds sold | 3,069,626 | 6,360 | 0.83 | 2,688,560 | 460 | 0.07 | ||||||||||||||||||||||||||
Investment securities1,2 | Investment securities1,2 | 10,802,293 | 29,720 | 1.12 | 12,132,519 | 31,800 | 1.06 | Investment securities1,2 | 11,391,789 | 43,758 | 1.54 | 12,066,850 | 25,741 | 0.86 | ||||||||||||||||||||||||||
Advances1,2 | Advances1,2 | 28,022,749 | 37,881 | 0.55 | 23,459,275 | 35,443 | 0.61 | Advances1,2 | 30,410,190 | 77,874 | 1.03 | 22,402,746 | 30,309 | 0.54 | ||||||||||||||||||||||||||
Mortgage loans3,4 | Mortgage loans3,4 | 8,078,576 | 54,554 | 2.74 | 8,904,264 | 53,478 | 2.44 | Mortgage loans3,4 | 8,035,822 | 56,383 | 2.81 | 8,469,116 | 51,443 | 2.44 | ||||||||||||||||||||||||||
Other interest-earning assets | Other interest-earning assets | 39,375 | 197 | 2.03 | 39,985 | 257 | 2.60 | Other interest-earning assets | 73,781 | 295 | 1.60 | 40,365 | 242 | 2.41 | ||||||||||||||||||||||||||
Total earning assets | Total earning assets | 52,181,169 | 124,058 | 0.96 | 50,656,081 | 122,256 | 0.98 | Total earning assets | 56,802,498 | 192,288 | 1.36 | 48,927,661 | 108,811 | 0.89 | ||||||||||||||||||||||||||
Other non-interest-earning assets | Other non-interest-earning assets | 221,892 | 403,464 | Other non-interest-earning assets | 211,092 | 296,479 | ||||||||||||||||||||||||||||||||||
Total assets | Total assets | $ | 52,403,061 | $ | 51,059,545 | Total assets | $ | 57,013,590 | $ | 49,224,140 | ||||||||||||||||||||||||||||||
Interest-bearing liabilities: | Interest-bearing liabilities: | Interest-bearing liabilities: | ||||||||||||||||||||||||||||||||||||||
Deposits | Deposits | $ | 973,169 | $ | 126 | 0.05 | % | $ | 1,112,236 | $ | 108 | 0.04 | % | Deposits | $ | 795,061 | $ | 997 | 0.50 | % | $ | 1,057,511 | $ | 103 | 0.04 | % | ||||||||||||||
Consolidated obligations1: | Consolidated obligations1: | Consolidated obligations1: | ||||||||||||||||||||||||||||||||||||||
Discount Notes | Discount Notes | 8,008,243 | 2,036 | 0.10 | 10,680,579 | 1,998 | 0.08 | Discount Notes | 16,321,410 | 27,998 | 0.69 | 12,150,372 | 1,069 | 0.04 | ||||||||||||||||||||||||||
Bonds | Bonds | 39,920,996 | 36,556 | 0.37 | 35,824,080 | 46,515 | 0.53 | Bonds | 36,083,770 | 79,776 | 0.89 | 32,691,953 | 40,151 | 0.49 | ||||||||||||||||||||||||||
Other borrowings | Other borrowings | 51,114 | 265 | 2.10 | 43,804 | 266 | 2.46 | Other borrowings | 48,889 | 291 | 2.39 | 55,703 | 258 | 1.86 | ||||||||||||||||||||||||||
Total interest-bearing liabilities | Total interest-bearing liabilities | 48,953,522 | 38,983 | 0.32 | 47,660,699 | 48,887 | 0.42 | Total interest-bearing liabilities | 53,249,130 | 109,062 | 0.82 | 45,955,539 | 41,581 | 0.36 | ||||||||||||||||||||||||||
Capital and other non-interest-bearing funds | Capital and other non-interest-bearing funds | 3,449,539 | 3,398,846 | Capital and other non-interest-bearing funds | 3,764,460 | 3,268,601 | ||||||||||||||||||||||||||||||||||
Total funding | Total funding | $ | 52,403,061 | $ | 51,059,545 | Total funding | $ | 57,013,590 | $ | 49,224,140 | ||||||||||||||||||||||||||||||
Net interest income and net interest spread5 | Net interest income and net interest spread5 | $ | 85,075 | 0.64 | % | $ | 73,369 | 0.56 | % | Net interest income and net interest spread5 | $ | 83,226 | 0.54 | % | $ | 67,230 | 0.53 | % | ||||||||||||||||||||||
Net interest margin6 | Net interest margin6 | 0.66 | % | 0.59 | % | Net interest margin6 | 0.59 | % | 0.55 | % |
Three Months Ended | Three Months Ended | |||||||||||||||||||||
03/31/2022 vs. 03/31/2021 | 06/30/2022 vs. 06/30/2021 | |||||||||||||||||||||
Increase (Decrease) Due to | Increase (Decrease) Due to | |||||||||||||||||||||
Volume1,2 | Rate1,2 | Total | Volume1,2 | Rate1,2 | Total | |||||||||||||||||
Interest Income3: | Interest Income3: | Interest Income3: | ||||||||||||||||||||
Interest-bearing deposits | Interest-bearing deposits | $ | 9 | $ | 98 | $ | 107 | Interest-bearing deposits | $ | 129 | $ | 2,023 | $ | 2,152 | ||||||||
Securities purchased under agreements to resell | Securities purchased under agreements to resell | (163) | 210 | 47 | Securities purchased under agreements to resell | 32 | 4,818 | 4,850 | ||||||||||||||
Federal funds sold | Federal funds sold | (56) | 330 | 274 | Federal funds sold | 74 | 5,826 | 5,900 | ||||||||||||||
Investment securities | Investment securities | (3,606) | 1,526 | (2,080) | Investment securities | (1,515) | 19,532 | 18,017 | ||||||||||||||
Advances | Advances | 6,423 | (3,985) | 2,438 | Advances | 13,598 | 33,967 | 47,565 | ||||||||||||||
Mortgage loans | Mortgage loans | (5,222) | 6,298 | 1,076 | Mortgage loans | (2,733) | 7,673 | 4,940 | ||||||||||||||
Other assets | Other assets | (4) | (56) | (60) | Other assets | 153 | (100) | 53 | ||||||||||||||
Total interest-earning assets | Total interest-earning assets | (2,619) | 4,421 | 1,802 | Total interest-earning assets | 9,738 | 73,739 | 83,477 | ||||||||||||||
Interest Expense3: | Interest Expense3: | Interest Expense3: | ||||||||||||||||||||
Deposits | Deposits | (14) | 32 | 18 | Deposits | (32) | 926 | 894 | ||||||||||||||
Consolidated obligations: | Consolidated obligations: | Consolidated obligations: | ||||||||||||||||||||
Discount notes | Discount notes | (574) | 612 | 38 | Discount notes | 490 | 26,439 | 26,929 | ||||||||||||||
Bonds | Bonds | 4,881 | (14,840) | (9,959) | Bonds | 4,549 | 35,076 | 39,625 | ||||||||||||||
Other borrowings | Other borrowings | 41�� | (42) | (1) | Other borrowings | (35) | 68 | 33 | ||||||||||||||
Total interest-bearing liabilities | Total interest-bearing liabilities | 4,334 | (14,238) | (9,904) | Total interest-bearing liabilities | 4,972 | 62,509 | 67,481 | ||||||||||||||
Change in net interest income | Change in net interest income | $ | (6,953) | $ | 18,659 | $ | 11,706 | Change in net interest income | $ | 4,766 | $ | 11,230 | $ | 15,996 |
Six Months Ended | |||||||||||||||||||||||||||||
06/30/2022 | 06/30/2021 | ||||||||||||||||||||||||||||
Average Balance | Interest Income/Expense | Yield | Average Balance | Interest Income/Expense | Yield | ||||||||||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||||||||||
Interest-bearing deposits | $ | 1,204,481 | $ | 2,743 | 0.46 | % | $ | 991,694 | $ | 484 | 0.10 | % | |||||||||||||||||
Securities purchased under agreements to resell | 2,092,619 | 5,787 | 0.56 | 2,326,558 | 890 | 0.08 | |||||||||||||||||||||||
Federal funds sold | 2,772,011 | 7,154 | 0.52 | 2,715,586 | 980 | 0.07 | |||||||||||||||||||||||
Investment securities1,2 | 11,098,669 | 73,478 | 1.34 | 12,099,503 | 57,541 | 0.96 | |||||||||||||||||||||||
Advances1,2 | 29,223,064 | 115,755 | 0.80 | 22,928,092 | 65,752 | 0.58 | |||||||||||||||||||||||
Mortgage loans3,4 | 8,057,081 | 110,937 | 2.78 | 8,685,488 | 104,921 | 2.44 | |||||||||||||||||||||||
Other interest-earning assets | 56,674 | 492 | 1.75 | 40,176 | 499 | 2.50 | |||||||||||||||||||||||
Total earning assets | 54,504,599 | 316,346 | 1.17 | 49,787,097 | 231,067 | 0.94 | |||||||||||||||||||||||
Other non-interest-earning assets | 216,463 | 349,675 | |||||||||||||||||||||||||||
Total assets | $ | 54,721,062 | $ | 50,136,772 | |||||||||||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||||||||||
Deposits | $ | 883,623 | 1,123 | 0.26 | $ | 1,084,722 | 211 | 0.04 | |||||||||||||||||||||
Consolidated obligations1: | |||||||||||||||||||||||||||||
Discount Notes | 12,187,791 | 30,034 | 0.50 | 11,419,536 | 3,067 | 0.05 | |||||||||||||||||||||||
Bonds | 37,991,783 | 116,332 | 0.62 | 34,249,365 | 86,666 | 0.51 | |||||||||||||||||||||||
Other borrowings | 49,996 | 556 | 2.24 | 49,786 | 524 | 2.12 | |||||||||||||||||||||||
Total interest-bearing liabilities | 51,113,193 | 148,045 | 0.58 | 46,803,409 | 90,468 | 0.39 | |||||||||||||||||||||||
Capital and other non-interest-bearing funds | 3,607,869 | 3,333,363 | |||||||||||||||||||||||||||
Total funding | $ | 54,721,062 | $ | 50,136,772 | |||||||||||||||||||||||||
Net interest income and net interest spread5 | $ | 168,301 | 0.59 | % | $ | 140,599 | 0.55 | % | |||||||||||||||||||||
Net interest margin6 | 0.62 | % | 0.57 | % |
Six Months Ended | ||||||||||||||||||||
06/30/2022 vs. 06/30/2021 | ||||||||||||||||||||
Increase (Decrease) Due to | ||||||||||||||||||||
Volume1,2 | Rate1,2 | Total | ||||||||||||||||||
Interest Income3: | ||||||||||||||||||||
Interest-bearing deposits | $ | 125 | $ | 2,134 | $ | 2,259 | ||||||||||||||
Securities purchased under agreements to resell | (98) | 4,995 | 4,897 | |||||||||||||||||
Federal funds sold | 21 | 6,153 | 6,174 | |||||||||||||||||
Investment securities | (5,084) | 21,021 | 15,937 | |||||||||||||||||
Advances | 20,933 | 29,070 | 50,003 | |||||||||||||||||
Mortgage loans | (7,953) | 13,969 | 6,016 | |||||||||||||||||
Other assets | 169 | (176) | (7) | |||||||||||||||||
Total earning assets | 8,113 | 77,166 | 85,279 | |||||||||||||||||
Interest Expense3: | ||||||||||||||||||||
Deposits | (46) | 958 | 912 | |||||||||||||||||
Consolidated obligations: | ||||||||||||||||||||
Discount notes | 220 | 26,747 | 26,967 | |||||||||||||||||
Bonds | 10,151 | 19,515 | 29,666 | |||||||||||||||||
Other borrowings | 2 | 30 | 32 | |||||||||||||||||
Total interest-bearing liabilities | 10,327 | 47,250 | 57,577 | |||||||||||||||||
Change in net interest income | $ | (2,214) | $ | 29,916 | $ | 27,702 |
Three Months Ended 03/31/2022 | ||||||||||||||||||||
Advances | Investments | Mortgage Loans | Consolidated Obligation Discount Notes | Total | ||||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||||
Economic hedges – unrealized gains (losses) due to fair value changes | $ | 2,119 | $ | 59,749 | $ | — | $ | — | $ | 61,868 | ||||||||||
Mortgage delivery commitments | — | — | (4,935) | — | (4,935) | |||||||||||||||
Economic hedges – net interest received (paid) | (183) | (10,193) | — | 2 | (10,374) | |||||||||||||||
Price alignment amount | — | 4 | — | — | 4 | |||||||||||||||
Net gains (losses) on derivatives | 1,936 | 49,560 | (4,935) | 2 | 46,563 | |||||||||||||||
Net gains (losses) on trading securities hedged on an economic basis with derivatives | — | (59,583) | — | — | (59,583) | |||||||||||||||
TOTAL | $ | 1,936 | $ | (10,023) | $ | (4,935) | $ | 2 | $ | (13,020) |
Three Months Ended 03/31/2021 | Three Months Ended 06/30/2022 | ||||||||||||||||||||||||||||||||||||||||||
Advances | Investments | Mortgage Loans | Total | Advances | Investments | Mortgage Loans | Consolidated Obligation Discount Notes | Consolidated Obligation Bonds | Total | ||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | Derivatives not designated as hedging instruments: | Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||||||||||||
Economic hedges – unrealized gains (losses) due to fair value changes | Economic hedges – unrealized gains (losses) due to fair value changes | $ | 2,302 | $ | 32,301 | $ | — | $ | 34,603 | Economic hedges – unrealized gains (losses) due to fair value changes | $ | 1,241 | $ | 21,831 | $ | — | $ | (3,081) | $ | 213 | $ | 20,204 | |||||||||||||||||||||
Mortgage delivery commitments | Mortgage delivery commitments | — | — | (4,189) | (4,189) | Mortgage delivery commitments | — | — | (1,919) | — | — | (1,919) | |||||||||||||||||||||||||||||||
Economic hedges – net interest received (paid) | Economic hedges – net interest received (paid) | (202) | (12,639) | — | (12,841) | Economic hedges – net interest received (paid) | (122) | (6,544) | — | 1,175 | 21 | (5,470) | |||||||||||||||||||||||||||||||
Price alignment amount | Price alignment amount | — | 8 | — | 8 | Price alignment amount | (1) | (2) | — | 2 | — | (1) | |||||||||||||||||||||||||||||||
Net gains (losses) on derivatives | Net gains (losses) on derivatives | 2,100 | 19,670 | (4,189) | 17,581 | Net gains (losses) on derivatives | 1,118 | 15,285 | (1,919) | (1,904) | 234 | 12,814 | |||||||||||||||||||||||||||||||
Net gains (losses) on trading securities hedged on an economic basis with derivatives | Net gains (losses) on trading securities hedged on an economic basis with derivatives | — | (26,794) | — | (26,794) | Net gains (losses) on trading securities hedged on an economic basis with derivatives | — | (22,814) | — | — | — | (22,814) | |||||||||||||||||||||||||||||||
TOTAL | TOTAL | $ | 2,100 | $ | (7,124) | $ | (4,189) | $ | (9,213) | TOTAL | $ | 1,118 | $ | (7,529) | $ | (1,919) | $ | (1,904) | $ | 234 | $ | (10,000) |
Three Months Ended 06/30/2021 | |||||||||||||||||||||||
Advances | Investments | Mortgage Loans | Total | ||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||
Economic hedges – unrealized gains (losses) due to fair value changes | $ | (645) | $ | 11,524 | $ | — | $ | 10,879 | |||||||||||||||
Mortgage delivery commitments | — | — | 2,157 | 2,157 | |||||||||||||||||||
Economic hedges – net interest received (paid) | (203) | (12,851) | — | (13,054) | |||||||||||||||||||
Price alignment amount | — | 3 | — | 3 | |||||||||||||||||||
Net gains (losses) on derivatives | (848) | (1,324) | 2,157 | (15) | |||||||||||||||||||
Net gains (losses) on trading securities hedged on an economic basis with derivatives | — | (13,459) | — | (13,459) | |||||||||||||||||||
TOTAL | $ | (848) | $ | (14,783) | $ | 2,157 | $ | (13,474) |
Six Months Ended 06/30/2022 | |||||||||||||||||||||||
Advances | Investments | Mortgage Loans | Consolidated Obligation Discount Notes | Consolidated Obligation Bonds | Total | ||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||
Economic hedges – unrealized gains (losses) due to fair value changes | $ | 3,360 | $ | 81,580 | $ | — | $ | (3,081) | $ | 213 | $ | 82,072 | |||||||||||
Mortgage delivery commitments | — | — | (6,854) | — | — | (6,854) | |||||||||||||||||
Economic hedges – net interest received (paid) | (305) | (16,737) | — | 1,177 | 21 | (15,844) | |||||||||||||||||
Price alignment amount | (1) | 2 | — | 2 | — | 3 | |||||||||||||||||
Net gains (losses) on derivatives | 3,054 | 64,845 | (6,854) | (1,902) | 234 | 59,377 | |||||||||||||||||
Net gains (losses) on trading securities hedged on an economic basis with derivatives | — | (82,397) | — | — | — | (82,397) | |||||||||||||||||
TOTAL | $ | 3,054 | $ | (17,552) | $ | (6,854) | $ | (1,902) | $ | 234 | $ | (23,020) |
Six Months Ended 06/30/2021 | |||||||||||||||||||||||
Advances | Investments | Mortgage Loans | Total | ||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||
Economic hedges – unrealized gains (losses) due to fair value changes | $ | 1,657 | $ | 43,825 | $ | — | $ | 45,482 | |||||||||||||||
Mortgage delivery commitments | — | — | (2,032) | (2,032) | |||||||||||||||||||
Economic hedges – net interest received (paid) | (405) | (25,490) | — | (25,895) | |||||||||||||||||||
Price alignment amount | — | 11 | — | 11 | |||||||||||||||||||
Net gains (losses) on derivatives | 1,252 | 18,346 | (2,032) | 17,566 | |||||||||||||||||||
Net gains (losses) on trading securities hedged on an economic basis with derivatives | — | (40,253) | — | (40,253) | |||||||||||||||||||
TOTAL | $ | 1,252 | $ | (21,907) | $ | (2,032) | $ | (22,687) |
Three Months Ended | Three Months Ended | |||||||||||||||||||||||||||||||||||||||
03/31/2022 | 03/31/2021 | 06/30/2022 | 06/30/2021 | |||||||||||||||||||||||||||||||||||||
Gains (Losses) on Derivatives | Gains (Losses) on Trading Securities | Net | Gains (Losses) on Derivatives | Gains (Losses) on Trading Securities | Net | Gains (Losses) on Derivatives | Gains (Losses) on Trading Securities | Net | Gains (Losses) on Derivatives | Gains (Losses) on Trading Securities | Net | |||||||||||||||||||||||||||||
U.S. Treasury obligations | U.S. Treasury obligations | $ | 11,581 | $ | (12,434) | $ | (853) | $ | 7,052 | $ | (7,624) | $ | (572) | U.S. Treasury obligations | $ | 6,150 | $ | (5,931) | $ | 219 | $ | 6,580 | $ | (7,750) | $ | (1,170) | ||||||||||||||
GSE debentures | GSE debentures | 14,067 | (14,003) | 64 | 5,767 | (4,997) | 770 | GSE debentures | 4,308 | (5,428) | (1,120) | 1,657 | (2,363) | (706) | ||||||||||||||||||||||||||
GSE MBS | GSE MBS | 33,161 | (33,146) | 15 | 19,322 | (14,173) | 5,149 | GSE MBS | 11,228 | (11,455) | (227) | 3,519 | (3,346) | 173 | ||||||||||||||||||||||||||
TOTAL | TOTAL | $ | 58,809 | $ | (59,583) | $ | (774) | $ | 32,141 | $ | (26,794) | $ | 5,347 | TOTAL | $ | 21,686 | $ | (22,814) | $ | (1,128) | $ | 11,756 | $ | (13,459) | $ | (1,703) |
Six Months Ended | ||||||||||||||||||||
06/30/2022 | 06/30/2021 | |||||||||||||||||||
Gains (Losses) on Derivatives | Gains (Losses) on Trading Securities | Net | Gains (Losses) on Derivatives | Gains (Losses) on Trading Securities | Net | |||||||||||||||
U.S. Treasury obligations | $ | 17,731 | $ | (18,365) | $ | (634) | $ | 13,632 | $ | (15,374) | $ | (1,742) | ||||||||
GSE debentures | 18,375 | (19,431) | (1,056) | 7,424 | (7,360) | 64 | ||||||||||||||
GSE MBS | 44,389 | (44,601) | (212) | 22,841 | (17,519) | 5,322 | ||||||||||||||
TOTAL | $ | 80,495 | $ | (82,397) | $ | (1,902) | $ | 43,897 | $ | (40,253) | $ | 3,644 |
Three Months Ended | Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||
03/31/2022 | 03/31/2021 | 06/30/2022 | 06/30/2021 | 06/30/2022 | 06/30/2021 | |||||||||||||||||||||||||||||
Trading securities not hedged: | Trading securities not hedged: | Trading securities not hedged: | ||||||||||||||||||||||||||||||||
U.S. obligation MBS and GSE MBS | U.S. obligation MBS and GSE MBS | $ | (93) | $ | 16 | U.S. obligation MBS and GSE MBS | $ | (101) | $ | 70 | $ | (194) | $ | 86 | ||||||||||||||||||||
Short-term securities | Short-term securities | 188 | 31 | Short-term securities | (424) | (22) | (236) | 9 | ||||||||||||||||||||||||||
Total trading securities not hedged | Total trading securities not hedged | 95 | 47 | Total trading securities not hedged | (525) | 48 | (430) | 95 | ||||||||||||||||||||||||||
Trading securities hedged on an economic basis with derivatives: | Trading securities hedged on an economic basis with derivatives: | Trading securities hedged on an economic basis with derivatives: | ||||||||||||||||||||||||||||||||
U.S. Treasury obligations | U.S. Treasury obligations | (12,434) | (7,624) | U.S. Treasury obligations | (5,931) | (7,750) | (18,365) | (15,374) | ||||||||||||||||||||||||||
GSE debentures | GSE debentures | (14,003) | (4,997) | GSE debentures | (5,428) | (2,363) | (19,431) | (7,360) | ||||||||||||||||||||||||||
GSE MBS | GSE MBS | (33,146) | (14,173) | GSE MBS | (11,455) | (3,346) | (44,601) | (17,519) | ||||||||||||||||||||||||||
Total trading securities hedged on an economic basis with derivatives | Total trading securities hedged on an economic basis with derivatives | (59,583) | (26,794) | Total trading securities hedged on an economic basis with derivatives | (22,814) | (13,459) | (82,397) | (40,253) | ||||||||||||||||||||||||||
TOTAL | TOTAL | $ | (59,488) | $ | (26,747) | TOTAL | $ | (23,339) | $ | (13,411) | $ | (82,827) | $ | (40,158) |
Three Months Ended | Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||
03/31/2022 | 03/31/2021 | 06/30/2022 | 06/30/2021 | 06/30/2022 | 06/30/2021 | |||||||||||||||||||||||
Net income, as reported under GAAP | Net income, as reported under GAAP | $ | 50,395 | $ | 43,906 | Net income, as reported under GAAP | $ | 50,361 | $ | 32,964 | $ | 100,756 | $ | 76,870 | ||||||||||||||
AHP assessments | AHP assessments | 5,600 | 4,880 | AHP assessments | 5,596 | 3,663 | 11,196 | 8,543 | ||||||||||||||||||||
Income before AHP assessments | Income before AHP assessments | 55,995 | 48,786 | Income before AHP assessments | 55,957 | 36,627 | 111,952 | 85,413 | ||||||||||||||||||||
Derivative (gains) losses1 | Derivative (gains) losses1 | (63,828) | (36,575) | Derivative (gains) losses1 | (22,329) | (11,105) | (86,157) | (47,680) | ||||||||||||||||||||
Trading (gains) losses | Trading (gains) losses | 59,488 | 26,747 | Trading (gains) losses | 23,339 | 13,411 | 82,827 | 40,158 | ||||||||||||||||||||
Prepayment/yield maintenance fees2 | Prepayment/yield maintenance fees2 | (3,724) | (1,132) | Prepayment/yield maintenance fees2 | (2,425) | (1,864) | (6,149) | (2,996) | ||||||||||||||||||||
Total excluded items | Total excluded items | (8,064) | (10,960) | Total excluded items | (1,415) | 442 | (9,479) | (10,518) | ||||||||||||||||||||
Adjusted income (a non-GAAP measure) | Adjusted income (a non-GAAP measure) | $ | 47,931 | $ | 37,826 | Adjusted income (a non-GAAP measure) | $ | 54,542 | $ | 37,069 | $ | 102,473 | $ | 74,895 |
Three Months Ended | Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||
03/31/2022 | 03/31/2021 | 06/30/2022 | 06/30/2021 | 06/30/2022 | 06/30/2021 | |||||||||||||||||||||||
Net interest income, as reported under GAAP | Net interest income, as reported under GAAP | $ | 85,075 | $ | 73,369 | Net interest income, as reported under GAAP | $ | 83,226 | $ | 67,230 | $ | 168,301 | $ | 140,599 | ||||||||||||||
(Gains) losses on derivatives qualifying for hedge accounting recorded in net interest income | (Gains) losses on derivatives qualifying for hedge accounting recorded in net interest income | (6,895) | (6,161) | (Gains) losses on derivatives qualifying for hedge accounting recorded in net interest income | (4,044) | 1,931 | (10,939) | (4,230) | ||||||||||||||||||||
Net interest settlements on derivatives not qualifying for hedge accounting | Net interest settlements on derivatives not qualifying for hedge accounting | (10,374) | (12,841) | Net interest settlements on derivatives not qualifying for hedge accounting | (5,470) | (13,054) | (15,844) | (25,895) | ||||||||||||||||||||
Prepayment/yield maintenance fees1 | Prepayment/yield maintenance fees1 | (3,724) | (1,132) | Prepayment/yield maintenance fees1 | (2,425) | (1,864) | (6,149) | (2,996) | ||||||||||||||||||||
Adjusted net interest income (a non-GAAP measure) | Adjusted net interest income (a non-GAAP measure) | $ | 64,082 | $ | 53,235 | Adjusted net interest income (a non-GAAP measure) | $ | 71,287 | $ | 54,243 | $ | 135,369 | $ | 107,478 | ||||||||||||||
Net interest margin, as calculated under GAAP | Net interest margin, as calculated under GAAP | 0.66 | % | 0.59 | % | Net interest margin, as calculated under GAAP | 0.59 | % | 0.55 | % | 0.62 | % | 0.57 | % | ||||||||||||||
Adjusted net interest margin (a non-GAAP measure) | Adjusted net interest margin (a non-GAAP measure) | 0.50 | % | 0.43 | % | Adjusted net interest margin (a non-GAAP measure) | 0.50 | % | 0.44 | % | 0.50 | % | 0.44 | % |
2022 | 2021 | |||||||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||||||||
06/30/2022 | 06/30/2021 | 06/30/2022 | 06/30/2021 | |||||||||||||||||||||||||
Average GAAP total capital | Average GAAP total capital | $ | 2,927,294 | $ | 2,718,579 | Average GAAP total capital | $ | 3,060,294 | $ | 2,738,120 | $ | 2,994,161 | $ | 2,728,403 | ||||||||||||||
ROE, based upon GAAP net income | ROE, based upon GAAP net income | 6.98 | % | 6.55 | % | ROE, based upon GAAP net income | 6.60 | % | 4.83 | % | 6.79 | % | 5.68 | % | ||||||||||||||
Adjusted ROE, based upon adjusted income (a non-GAAP measure) | Adjusted ROE, based upon adjusted income (a non-GAAP measure) | 6.64 | % | 5.64 | % | Adjusted ROE, based upon adjusted income (a non-GAAP measure) | 7.15 | % | 5.43 | % | 6.90 | % | 5.54 | % | ||||||||||||||
Average overnight Federal funds effective rate | Average overnight Federal funds effective rate | 0.12 | % | 0.08 | % | Average overnight Federal funds effective rate | 0.76 | % | 0.07 | % | 0.44 | % | 0.07 | % | ||||||||||||||
GAAP ROE as a spread to average overnight Federal funds effective rate | GAAP ROE as a spread to average overnight Federal funds effective rate | 6.86 | % | 6.47 | % | GAAP ROE as a spread to average overnight Federal funds effective rate | 5.84 | % | 4.76 | % | 6.35 | % | 5.61 | % | ||||||||||||||
Adjusted ROE as a spread to average overnight Federal funds effective rate (a non-GAAP measure) | Adjusted ROE as a spread to average overnight Federal funds effective rate (a non-GAAP measure) | 6.52 | % | 5.56 | % | Adjusted ROE as a spread to average overnight Federal funds effective rate (a non-GAAP measure) | 6.39 | % | 5.36 | % | 6.46 | % | 5.47 | % |
Component Concentration | Component Concentration | |||||||||||||||
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||
Assets: | Assets: | Assets: | ||||||||||||||
Cash and due from banks | Cash and due from banks | 0.1 | % | 0.1 | % | Cash and due from banks | 0.1 | % | 0.1 | % | ||||||
Interest-bearing deposits, securities purchased under agreements to resell and Federal funds sold | Interest-bearing deposits, securities purchased under agreements to resell and Federal funds sold | 11.5 | 11.6 | Interest-bearing deposits, securities purchased under agreements to resell and Federal funds sold | 14.7 | 11.6 | ||||||||||
Investment securities | Investment securities | 21.8 | 21.9 | Investment securities | 19.0 | 21.9 | ||||||||||
Advances | Advances | 50.2 | 48.9 | Advances | 51.3 | 48.9 | ||||||||||
Mortgage loans, net | Mortgage loans, net | 15.8 | 16.9 | Mortgage loans, net | 14.0 | 16.9 | ||||||||||
Overnight loans to other FHLBanks | Overnight loans to other FHLBanks | 0.3 | — | |||||||||||||
Other assets | Other assets | 0.6 | 0.6 | Other assets | 0.6 | 0.6 | ||||||||||
Total assets | Total assets | 100.0 | % | 100.0 | % | Total assets | 100.0 | % | 100.0 | % | ||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||
Deposits | Deposits | 1.8 | % | 2.0 | % | Deposits | 1.4 | % | 2.0 | % | ||||||
Consolidated obligation discount notes, net | Consolidated obligation discount notes, net | 15.5 | 13.7 | Consolidated obligation discount notes, net | 34.9 | 13.7 | ||||||||||
Consolidated obligation bonds, net | Consolidated obligation bonds, net | 76.8 | 78.4 | Consolidated obligation bonds, net | 57.3 | 78.4 | ||||||||||
Overnight loans from other FHLBanks | Overnight loans from other FHLBanks | 0.9 | — | |||||||||||||
Other liabilities | Other liabilities | 0.4 | 0.3 | Other liabilities | 0.3 | 0.3 | ||||||||||
Total liabilities | Total liabilities | 94.5 | 94.4 | Total liabilities | 94.8 | 94.4 | ||||||||||
Capital: | Capital: | Capital: | ||||||||||||||
Capital stock outstanding | Capital stock outstanding | 3.1 | 3.1 | Capital stock outstanding | 3.2 | 3.1 | ||||||||||
Retained earnings | Retained earnings | 2.3 | 2.4 | Retained earnings | 2.1 | 2.4 | ||||||||||
Accumulated other comprehensive income (loss) | Accumulated other comprehensive income (loss) | 0.1 | 0.1 | Accumulated other comprehensive income (loss) | (0.1) | 0.1 | ||||||||||
Total capital | Total capital | 5.5 | 5.6 | Total capital | 5.2 | 5.6 | ||||||||||
Total liabilities and capital | Total liabilities and capital | 100.0 | % | 100.0 | % | Total liabilities and capital | 100.0 | % | 100.0 | % |
Increase (Decrease) in Components | Increase (Decrease) in Components | |||||||||||||||
03/31/2022 vs. 12/31/2021 | 06/30/2022 vs. 12/31/2021 | |||||||||||||||
Dollar Change | Percent Change | Dollar Change | Percent Change | |||||||||||||
Assets: | Assets: | Assets: | ||||||||||||||
Cash and due from banks | Cash and due from banks | $ | 3,423 | 13.2 | % | Cash and due from banks | $ | 5,509 | 21.3 | % | ||||||
Interest-bearing deposits, securities purchased under agreements to resell and Federal funds sold | Interest-bearing deposits, securities purchased under agreements to resell and Federal funds sold | 270,896 | 4.9 | Interest-bearing deposits, securities purchased under agreements to resell and Federal funds sold | 2,911,022 | 52.4 | ||||||||||
Investment securities | Investment securities | 538,411 | 5.1 | Investment securities | 398,051 | 3.8 | ||||||||||
Advances | Advances | 2,003,288 | 8.5 | Advances | 6,038,552 | 25.7 | ||||||||||
Mortgage loans, net | Mortgage loans, net | (113,097) | (1.4) | Mortgage loans, net | (116,116) | (1.4) | ||||||||||
Overnight loans to other FHLBanks | Overnight loans to other FHLBanks | 200,000 | 100.0 | |||||||||||||
Other assets | Other assets | 18,533 | 5.8 | Other assets | 41,044 | 12.9 | ||||||||||
Total assets | Total assets | $ | 2,721,454 | 5.7 | % | Total assets | $ | 9,478,062 | 19.7 | % | ||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||
Deposits | Deposits | $ | (9,516) | (1.0) | % | Deposits | $ | (164,362) | (17.4) | % | ||||||
Consolidated obligation discount notes, net | Consolidated obligation discount notes, net | 1,274,662 | 19.4 | Consolidated obligation discount notes, net | 13,507,342 | 205.6 | ||||||||||
Consolidated obligation bonds, net | Consolidated obligation bonds, net | 1,330,112 | 3.5 | Consolidated obligation bonds, net | (4,702,463) | (12.5) | ||||||||||
Overnight loans from other FHLBanks | Overnight loans from other FHLBanks | 500,000 | 100.0 | |||||||||||||
Other liabilities | Other liabilities | 62,582 | 38.8 | Other liabilities | 57,045 | 35.4 | ||||||||||
Total liabilities | Total liabilities | 2,657,840 | 5.9 | Total liabilities | 9,197,562 | 20.3 | ||||||||||
Capital: | Capital: | Capital: | ||||||||||||||
Capital stock outstanding | Capital stock outstanding | 74,856 | 5.0 | Capital stock outstanding | 321,715 | 21.5 | ||||||||||
Retained earnings | Retained earnings | 29,923 | 2.6 | Retained earnings | 54,453 | 4.8 | ||||||||||
Accumulated other comprehensive income (loss) | Accumulated other comprehensive income (loss) | (41,165) | (56.9) | Accumulated other comprehensive income (loss) | (95,668) | (132.3) | ||||||||||
Total capital | Total capital | 63,614 | 2.3 | Total capital | 280,500 | 10.3 | ||||||||||
Total liabilities and capital | Total liabilities and capital | $ | 2,721,454 | 5.7 | % | Total liabilities and capital | $ | 9,478,062 | 19.7 | % |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||||||||||||||
Dollar | Percent | Dollar | Percent | Dollar | Percent | Dollar | Percent | |||||||||||||||||||||
Line of Credit: | Line of Credit: | Line of Credit: | ||||||||||||||||||||||||||
Overnight line of credit1 | Overnight line of credit1 | $ | 2,707,849 | 10.6 | % | $ | 1,630,399 | 7.0 | % | Overnight line of credit1 | $ | 6,038,569 | 20.3 | % | $ | 1,630,399 | 7.0 | % | ||||||||||
Adjustable rate: | Adjustable rate: | Adjustable rate: | ||||||||||||||||||||||||||
Standard advance products: | Standard advance products: | Standard advance products: | ||||||||||||||||||||||||||
Regular adjustable rate advances | Regular adjustable rate advances | 1,981,250 | 7.7 | 1,732,250 | 7.4 | Regular adjustable rate advances | 2,174,250 | 7.3 | 1,732,250 | 7.4 | ||||||||||||||||||
Adjustable rate callable advances | Adjustable rate callable advances | 1,335,300 | 5.2 | 1,354,300 | 5.8 | Adjustable rate callable advances | 1,442,300 | 4.8 | 1,354,300 | 5.8 | ||||||||||||||||||
Standard housing and community development advances: | Standard housing and community development advances: | Standard housing and community development advances: | ||||||||||||||||||||||||||
Adjustable rate callable advances | Adjustable rate callable advances | 25,712 | 0.1 | 29,712 | 0.1 | Adjustable rate callable advances | 25,712 | 0.1 | 29,712 | 0.1 | ||||||||||||||||||
Total adjustable rate term advances | Total adjustable rate term advances | 3,342,262 | 13.0 | 3,116,262 | 13.3 | Total adjustable rate term advances | 3,642,262 | 12.2 | 3,116,262 | 13.3 | ||||||||||||||||||
Fixed rate: | Fixed rate: | Fixed rate: | ||||||||||||||||||||||||||
Standard advance products: | Standard advance products: | Standard advance products: | ||||||||||||||||||||||||||
Short-term fixed rate advances2 | Short-term fixed rate advances2 | 10,639,110 | 41.5 | 10,006,622 | 42.7 | Short-term fixed rate advances2 | 10,889,684 | 36.6 | 10,006,622 | 42.7 | ||||||||||||||||||
Regular fixed rate advances | Regular fixed rate advances | 6,515,247 | 25.4 | 6,161,167 | 26.3 | Regular fixed rate advances | 7,343,599 | 24.7 | 6,161,167 | 26.3 | ||||||||||||||||||
Fixed rate callable advances | Fixed rate callable advances | 65,846 | 0.2 | 65,846 | 0.3 | Fixed rate callable advances | 64,071 | 0.2 | 65,846 | 0.3 | ||||||||||||||||||
Standard housing and community development advances: | Standard housing and community development advances: | Standard housing and community development advances: | ||||||||||||||||||||||||||
Regular fixed rate advances | Regular fixed rate advances | 382,436 | 1.5 | 395,366 | 1.7 | Regular fixed rate advances | 359,101 | 1.2 | 395,366 | 1.7 | ||||||||||||||||||
Fixed rate callable advances | Fixed rate callable advances | 458 | — | 831 | — | Fixed rate callable advances | 458 | — | 831 | — | ||||||||||||||||||
Total fixed rate term advances | Total fixed rate term advances | 17,603,097 | 68.6 | 16,629,832 | 71.0 | Total fixed rate term advances | 18,656,913 | 62.7 | 16,629,832 | 71.0 | ||||||||||||||||||
Convertible: | Convertible: | Convertible: | ||||||||||||||||||||||||||
Standard advance products: | Standard advance products: | Standard advance products: | ||||||||||||||||||||||||||
Fixed rate convertible advances | Fixed rate convertible advances | 1,333,150 | 5.2 | 1,385,150 | 5.9 | Fixed rate convertible advances | 728,600 | 2.5 | 1,385,150 | 5.9 | ||||||||||||||||||
Amortizing: | Amortizing: | Amortizing: | ||||||||||||||||||||||||||
Standard advance products: | Standard advance products: | Standard advance products: | ||||||||||||||||||||||||||
Fixed rate amortizing advances | Fixed rate amortizing advances | 345,074 | 1.3 | 364,912 | 1.5 | Fixed rate amortizing advances | 400,067 | 1.3 | 364,912 | 1.5 | ||||||||||||||||||
Fixed rate callable amortizing advances | Fixed rate callable amortizing advances | 20,639 | 0.1 | 21,009 | 0.1 | Fixed rate callable amortizing advances | 20,196 | 0.1 | 21,009 | 0.1 | ||||||||||||||||||
Standard housing and community development advances: | Standard housing and community development advances: | Standard housing and community development advances: | ||||||||||||||||||||||||||
Fixed rate amortizing advances | Fixed rate amortizing advances | 276,998 | 1.1 | 275,381 | 1.2 | Fixed rate amortizing advances | 269,530 | 0.9 | 275,381 | 1.2 | ||||||||||||||||||
Fixed rate callable amortizing advances | Fixed rate callable amortizing advances | 11,786 | 0.1 | 9,883 | — | Fixed rate callable amortizing advances | 11,785 | — | 9,883 | — | ||||||||||||||||||
Total amortizing advances | Total amortizing advances | 654,497 | 2.6 | 671,185 | 2.8 | Total amortizing advances | 701,578 | 2.3 | 671,185 | 2.8 | ||||||||||||||||||
TOTAL PAR VALUE | TOTAL PAR VALUE | $ | 25,640,855 | 100.0 | % | $ | 23,432,828 | 100.0 | % | TOTAL PAR VALUE | $ | 29,767,922 | 100.0 | % | $ | 23,432,828 | 100.0 | % |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||||||||||||||
Borrower Name | Borrower Name | Advance Par Value | Percent of Total Advance Par | Advance Par Value | Percent of Total Advance Par | Borrower Name | Advance Par Value | Percent of Total Advance Par | Advance Par Value | Percent of Total Advance Par | ||||||||||||||||||
MidFirst Bank | MidFirst Bank | $ | 9,810,000 | 38.3 | % | $ | 9,045,000 | 38.6 | % | MidFirst Bank | $ | 8,815,000 | 29.6 | % | $ | 9,045,000 | 38.6 | % | ||||||||||
Capitol Federal Savings Bank | Capitol Federal Savings Bank | 1,875,700 | 6.3 | 1,590,000 | 6.8 | |||||||||||||||||||||||
Pacific Life Insurance Co. | Pacific Life Insurance Co. | 1,785,766 | 6.0 | |||||||||||||||||||||||||
Security Life of Denver Insurance Co. | Security Life of Denver Insurance Co. | 1,600,000 | 5.4 | 1,445,000 | 6.2 | |||||||||||||||||||||||
United of Omaha Life Insurance Co. | United of Omaha Life Insurance Co. | 1,842,820 | 7.2 | 1,597,502 | 6.8 | United of Omaha Life Insurance Co. | 1,537,455 | 5.2 | 1,597,502 | 6.8 | ||||||||||||||||||
Capitol Federal Savings Bank | 1,590,000 | 6.2 | 1,590,000 | 6.8 | ||||||||||||||||||||||||
Security Life of Denver Insurance Co. | 1,520,000 | 5.9 | 1,445,000 | 6.2 | ||||||||||||||||||||||||
Pacific Life Insurance Co. | 939,216 | 3.7 | ||||||||||||||||||||||||||
Colorado Federal Savings | Colorado Federal Savings | 745,000 | 3.2 | Colorado Federal Savings | 745,000 | 3.2 | ||||||||||||||||||||||
TOTAL | TOTAL | $ | 15,702,036 | 61.3 | % | $ | 14,422,502 | 61.6 | % | TOTAL | $ | 15,613,921 | 52.5 | % | $ | 14,422,502 | 61.6 | % |
Three Months Ended | ||||||||||||||
06/30/2022 | 06/30/2021 | |||||||||||||
Borrower Name | Advance Income | Percent of Total Advance Income1 | Advance Income | Percent of Total Advance Income1 | ||||||||||
MidFirst Bank | $ | 17,737 | 20.7 | % | $ | 4,441 | 9.7 | % | ||||||
Capitol Federal Savings Bank | 9,567 | 11.1 | 4,667 | 10.2 | ||||||||||
Pacific Life Insurance Co. | 4,354 | 5.1 | ||||||||||||
United of Omaha Life Insurance Co. | 3,949 | 4.6 | 1,719 | 3.8 | ||||||||||
First United Bank & Trust Co. | 3,526 | 4.1 | ||||||||||||
American Fidelity Assurance Co. | 2,662 | 5.8 | ||||||||||||
WEOKIE Federal Credit Union | 1,483 | 3.2 | ||||||||||||
TOTAL | $ | 39,133 | 45.6 | % | $ | 14,972 | 32.7 | % |
Six Months Ended | ||||||||||||||||||||||||||||
03/31/2022 | 03/31/2021 | 06/30/2022 | 06/30/2021 | |||||||||||||||||||||||||
Borrower Name | Borrower Name | Advance Income | Percent of Total Advance Income1 | Advance Income | Percent of Total Advance Income1 | Borrower Name | Advance Income | Percent of Total Advance Income1 | Advance Income | Percent of Total Advance Income1 | ||||||||||||||||||
MidFirst Bank | MidFirst Bank | $ | 6,894 | 14.0 | % | $ | 5,682 | 11.8 | % | MidFirst Bank | $ | 24,631 | 18.2 | % | $ | 10,123 | 10.8 | % | ||||||||||
Capitol Federal Savings Bank | Capitol Federal Savings Bank | 6,116 | 12.4 | 4,650 | 9.6 | Capitol Federal Savings Bank | 15,683 | 11.6 | 9,317 | 9.9 | ||||||||||||||||||
United of Omaha Life Insurance Co. | United of Omaha Life Insurance Co. | 6,044 | 4.5 | 3,500 | 3.7 | |||||||||||||||||||||||
American Fidelity Assurance Co. | American Fidelity Assurance Co. | 2,762 | 5.6 | 2,793 | 5.8 | American Fidelity Assurance Co. | 5,556 | 4.1 | 5,455 | 5.8 | ||||||||||||||||||
United of Omaha Life Insurance Co. | 2,095 | 4.2 | 1,781 | 3.7 | ||||||||||||||||||||||||
Security Life of Denver Insurance Co. | 1,681 | 3.4 | ||||||||||||||||||||||||||
First United Bank & Trust Co. | First United Bank & Trust Co. | 5,114 | 3.8 | |||||||||||||||||||||||||
WEOKIE Federal Credit Union | WEOKIE Federal Credit Union | 1,470 | 3.0 | WEOKIE Federal Credit Union | 2,953 | 3.1 | ||||||||||||||||||||||
TOTAL | TOTAL | $ | 19,548 | 39.6 | % | $ | 16,376 | 33.9 | % | TOTAL | $ | 57,028 | 42.2 | % | $ | 31,348 | 33.3 | % |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||||||||||||||
Mortgage Loan Balance | Percent of Total Mortgage Loans | Mortgage Loan Balance | Percent of Total Mortgage Loans | Mortgage Loan Balance | Percent of Total Mortgage Loans | Mortgage Loan Balance | Percent of Total Mortgage Loans | |||||||||||||||||||||
Tulsa Teachers Credit Union | Tulsa Teachers Credit Union | $ | 344,127 | 4.3 | % | $ | 344,847 | 4.3 | % | Tulsa Teachers Credit Union | $ | 337,892 | 4.3 | % | $ | 344,847 | 4.3 | % | ||||||||||
Fidelity Bank | Fidelity Bank | 302,114 | 3.8 | 299,229 | 3.7 | Fidelity Bank | 317,270 | 4.0 | 299,229 | 3.7 | ||||||||||||||||||
Community National Bank & Trust | Community National Bank & Trust | 237,669 | 3.0 | 232,272 | 2.9 | |||||||||||||||||||||||
West Gate Bank | West Gate Bank | 243,617 | 3.1 | 253,506 | 3.2 | West Gate Bank | 233,684 | 2.9 | 253,506 | 3.2 | ||||||||||||||||||
Community National Bank & Trust | 236,710 | 3.0 | 232,272 | 2.9 | ||||||||||||||||||||||||
NBKC Bank | NBKC Bank | 188,054 | 2.4 | 206,585 | 2.6 | NBKC Bank | 179,160 | 2.3 | 206,585 | 2.6 | ||||||||||||||||||
TOTAL | TOTAL | $ | 1,314,622 | 16.6 | % | $ | 1,336,439 | 16.7 | % | TOTAL | $ | 1,305,675 | 16.5 | % | $ | 1,336,439 | 16.7 | % |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||
Interest-bearing deposits | Interest-bearing deposits | $ | 623,989 | $ | 692,159 | Interest-bearing deposits | $ | 854,242 | $ | 692,159 | ||||||
Federal funds sold | Federal funds sold | 3,100,000 | 3,360,000 | Federal funds sold | 5,360,000 | 3,360,000 | ||||||||||
Certificates of deposit | Certificates of deposit | 700,211 | 200,023 | Certificates of deposit | 639,786 | 200,023 | ||||||||||
TOTAL UNSECURED INVESTMENT CREDIT EXPOSURE1 | TOTAL UNSECURED INVESTMENT CREDIT EXPOSURE1 | $ | 4,424,200 | $ | 4,252,182 | TOTAL UNSECURED INVESTMENT CREDIT EXPOSURE1 | $ | 6,854,028 | $ | 4,252,182 |
Domicile of Counterparty | Domicile of Counterparty | Overnight | Due 2 – 30 days | Due 31 – 90 days | Total | Domicile of Counterparty | Overnight | Due 2 – 30 days | Due 31 – 90 days | Total | ||||||||||||||||||||||||
Domestic | Domestic | $ | 623,989 | $ | — | $ | — | $ | 623,989 | Domestic | $ | 1,379,242 | $ | — | $ | — | $ | 1,379,242 | ||||||||||||||||
U.S. subsidiaries of foreign commercial banks | U.S. subsidiaries of foreign commercial banks | — | — | 249,910 | 249,910 | |||||||||||||||||||||||||||||
Total domestic and U.S. subsidiaries of foreign commercial banks | Total domestic and U.S. subsidiaries of foreign commercial banks | 1,379,242 | — | 249,910 | 1,629,152 | |||||||||||||||||||||||||||||
U.S. Branches and agency offices of foreign commercial banks: | U.S. Branches and agency offices of foreign commercial banks: | U.S. Branches and agency offices of foreign commercial banks: | ||||||||||||||||||||||||||||||||
Canada | Canada | 700,000 | — | 300,146 | 1,000,146 | Canada | 2,490,000 | — | — | 2,490,000 | ||||||||||||||||||||||||
Australia | Australia | 825,000 | — | — | 825,000 | Australia | 815,000 | — | — | 815,000 | ||||||||||||||||||||||||
Germany | Germany | 325,000 | 199,991 | — | 524,991 | Germany | 280,000 | 239,949 | — | 519,949 | ||||||||||||||||||||||||
Finland | 200,000 | — | 200,074 | 400,074 | ||||||||||||||||||||||||||||||
Netherlands | Netherlands | 400,000 | — | — | 400,000 | Netherlands | 400,000 | — | — | 400,000 | ||||||||||||||||||||||||
United Kingdom | United Kingdom | 350,000 | — | — | 350,000 | United Kingdom | 400,000 | — | — | 400,000 | ||||||||||||||||||||||||
Norway | 300,000 | — | — | 300,000 | ||||||||||||||||||||||||||||||
Finland | Finland | 350,000 | — | — | 350,000 | |||||||||||||||||||||||||||||
Sweden | Sweden | — | — | 149,927 | 149,927 | |||||||||||||||||||||||||||||
France | France | 100,000 | — | — | 100,000 | |||||||||||||||||||||||||||||
— | — | — | — | |||||||||||||||||||||||||||||||
Total U.S. Branches and agency offices of foreign commercial banks | Total U.S. Branches and agency offices of foreign commercial banks | 3,100,000 | 199,991 | 500,220 | 3,800,211 | Total U.S. Branches and agency offices of foreign commercial banks | 4,835,000 | 239,949 | 149,927 | 5,224,876 | ||||||||||||||||||||||||
TOTAL UNSECURED INVESTMENT CREDIT EXPOSURE1 | TOTAL UNSECURED INVESTMENT CREDIT EXPOSURE1 | $ | 3,723,989 | $ | 199,991 | $ | 500,220 | $ | 4,424,200 | TOTAL UNSECURED INVESTMENT CREDIT EXPOSURE1 | $ | 6,214,242 | $ | 239,949 | $ | 399,837 | $ | 6,854,028 |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||||||||||||||||||||||||||
Due in one year or less | Due after one year through five years | Due after five years through 10 years | Due after 10 years | Carrying Value | Carrying Value | Due in one year or less | Due after one year through five years | Due after five years through 10 years | Due after 10 years | Carrying Value | Carrying Value | |||||||||||||||||||||||||||||
Trading securities: | Trading securities: | Trading securities: | ||||||||||||||||||||||||||||||||||||||
Certificates of deposit | Certificates of deposit | $ | 700,211 | $ | — | $ | — | $ | — | $ | 700,211 | $ | 200,023 | Certificates of deposit | $ | 639,786 | $ | — | $ | — | $ | — | $ | 639,786 | $ | 200,023 | ||||||||||||||
U.S. Treasury obligations | U.S. Treasury obligations | 501,135 | 403,903 | — | — | 905,038 | 917,472 | U.S. Treasury obligations | 499,442 | 149,666 | — | 649,108 | 917,472 | |||||||||||||||||||||||||||
GSE debentures | GSE debentures | — | 401,915 | — | — | 401,915 | 415,918 | GSE debentures | 105,814 | 290,673 | — | 396,487 | 415,918 | |||||||||||||||||||||||||||
GSE MBS | GSE MBS | — | 567,064 | 172,629 | 28,961 | 768,654 | 806,542 | GSE MBS | — | 612,666 | 35,141 | 27,049 | 674,856 | 806,542 | ||||||||||||||||||||||||||
Total trading securities | Total trading securities | 1,201,346 | 1,372,882 | 172,629 | 28,961 | 2,775,818 | 2,339,955 | Total trading securities | 1,245,042 | 1,053,005 | 35,141 | 27,049 | 2,360,237 | 2,339,955 | ||||||||||||||||||||||||||
Available-for-sale securities: | Available-for-sale securities: | Available-for-sale securities: | ||||||||||||||||||||||||||||||||||||||
U.S. Treasury obligations | U.S. Treasury obligations | 1,201,645 | 1,354,151 | 232,263 | — | 2,788,059 | 2,816,437 | U.S. Treasury obligations | 945,807 | 1,665,306 | 224,326 | — | 2,835,439 | 2,816,437 | ||||||||||||||||||||||||||
U.S. obligation MBS | U.S. obligation MBS | — | — | — | 46,817 | 46,817 | 50,767 | U.S. obligation MBS | — | 43,690 | 43,690 | 50,767 | ||||||||||||||||||||||||||||
GSE MBS | GSE MBS | 35,678 | 1,236,370 | 2,909,153 | 830,258 | 5,011,459 | 4,851,981 | GSE MBS | 81,706 | 1,356,606 | 3,087,409 | 738,981 | 5,264,702 | 4,851,981 | ||||||||||||||||||||||||||
Total available-for-sale securities | Total available-for-sale securities | 1,237,323 | 2,590,521 | 3,141,416 | 877,075 | 7,846,335 | 7,719,185 | Total available-for-sale securities | 1,027,513 | 3,021,912 | 3,311,735 | 782,671 | 8,143,831 | 7,719,185 | ||||||||||||||||||||||||||
Held-to-maturity securities: | Held-to-maturity securities: | Held-to-maturity securities: | ||||||||||||||||||||||||||||||||||||||
State or local housing agency obligations | State or local housing agency obligations | — | — | 44,865 | 30,000 | 74,865 | 74,865 | State or local housing agency obligations | — | 43,940 | 30,000 | 73,940 | 74,865 | |||||||||||||||||||||||||||
GSE MBS | GSE MBS | — | — | 76,119 | 270,599 | 346,718 | 371,320 | GSE MBS | — | 73,331 | 252,037 | 325,368 | 371,320 | |||||||||||||||||||||||||||
Total held-to-maturity securities | Total held-to-maturity securities | — | — | 120,984 | 300,599 | 421,583 | 446,185 | Total held-to-maturity securities | — | 117,271 | 282,037 | 399,308 | 446,185 | |||||||||||||||||||||||||||
Total securities | Total securities | 2,438,669 | 3,963,403 | 3,435,029 | 1,206,635 | 11,043,736 | 10,505,325 | Total securities | 2,272,555 | 4,074,917 | 3,464,147 | 1,091,757 | 10,903,376 | 10,505,325 | ||||||||||||||||||||||||||
Interest-bearing deposits | Interest-bearing deposits | 624,145 | — | — | — | 624,145 | 693,249 | Interest-bearing deposits | 854,271 | — | 854,271 | 693,249 | ||||||||||||||||||||||||||||
Federal funds sold | Federal funds sold | 3,100,000 | — | — | — | 3,100,000 | 3,360,000 | Federal funds sold | 5,360,000 | — | 5,360,000 | 3,360,000 | ||||||||||||||||||||||||||||
Securities purchased under agreements to resell | Securities purchased under agreements to resell | 2,100,000 | — | — | — | 2,100,000 | 1,500,000 | Securities purchased under agreements to resell | 2,250,000 | — | 2,250,000 | 1,500,000 | ||||||||||||||||||||||||||||
TOTAL INVESTMENTS | TOTAL INVESTMENTS | $ | 8,262,814 | $ | 3,963,403 | $ | 3,435,029 | $ | 1,206,635 | $ | 16,867,881 | $ | 16,058,574 | TOTAL INVESTMENTS | $ | 10,736,826 | $ | 4,074,917 | $ | 3,464,147 | $ | 1,091,757 | $ | 19,367,647 | $ | 16,058,574 | ||||||||||||||
Weighted average yields1: | Weighted average yields1: | Weighted average yields1: | ||||||||||||||||||||||||||||||||||||||
Available-for-sale securities | Available-for-sale securities | 1.47 | % | 1.83 | % | 2.28 | % | 1.56 | % | Available-for-sale securities | 1.37 | % | 2.06 | % | 2.48 | % | 1.86 | % | ||||||||||||||||||||||
Held-to-maturity securities | Held-to-maturity securities | — | % | — | % | 1.56 | % | 1.60 | % | Held-to-maturity securities | — | % | — | % | 2.03 | % | 1.64 | % |
03/31/2022 | 06/30/2022 | |||||||||||||||||||||||||||||||||||||||||||||
Carrying Value1 | Carrying Value1 | |||||||||||||||||||||||||||||||||||||||||||||
Investment Grade | Unrated | Total | Investment Grade | Unrated | Total | |||||||||||||||||||||||||||||||||||||||||
Triple-A | Double-A | Single-A | Triple-A | Double-A | Single-A | |||||||||||||||||||||||||||||||||||||||||
Interest-bearing deposits2 | Interest-bearing deposits2 | $ | — | $ | 156 | $ | 623,989 | $ | — | $ | 624,145 | Interest-bearing deposits2 | $ | — | $ | 29 | $ | 854,242 | $ | — | $ | 854,271 | ||||||||||||||||||||||||
Federal funds sold2 | Federal funds sold2 | — | 500,000 | 2,600,000 | — | 3,100,000 | Federal funds sold2 | — | 350,000 | 5,010,000 | — | 5,360,000 | ||||||||||||||||||||||||||||||||||
Securities purchased under agreements to resell3 | Securities purchased under agreements to resell3 | — | — | 100,000 | 2,000,000 | 2,100,000 | Securities purchased under agreements to resell3 | — | 150,000 | 100,000 | 2,000,000 | 2,250,000 | ||||||||||||||||||||||||||||||||||
Investment securities: | Investment securities: | Investment securities: | ||||||||||||||||||||||||||||||||||||||||||||
Non-mortgage-backed securities: | Non-mortgage-backed securities: | Non-mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||
Certificates of deposit2 | Certificates of deposit2 | — | 200,073 | 500,138 | — | 700,211 | Certificates of deposit2 | — | 149,927 | 489,859 | — | 639,786 | ||||||||||||||||||||||||||||||||||
U.S. Treasury obligations | U.S. Treasury obligations | — | 3,693,097 | — | — | 3,693,097 | U.S. Treasury obligations | — | 3,484,547 | — | — | 3,484,547 | ||||||||||||||||||||||||||||||||||
GSE debentures | GSE debentures | — | 401,915 | — | — | 401,915 | GSE debentures | — | 396,487 | — | — | 396,487 | ||||||||||||||||||||||||||||||||||
State or local housing agency obligations | State or local housing agency obligations | 44,865 | 30,000 | — | — | 74,865 | State or local housing agency obligations | 43,940 | 30,000 | — | — | 73,940 | ||||||||||||||||||||||||||||||||||
Total non-mortgage-backed securities | Total non-mortgage-backed securities | 44,865 | 4,325,085 | 500,138 | — | 4,870,088 | Total non-mortgage-backed securities | 43,940 | 4,060,961 | 489,859 | — | 4,594,760 | ||||||||||||||||||||||||||||||||||
Mortgage-backed securities: | Mortgage-backed securities: | Mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||
U.S. obligation MBS | U.S. obligation MBS | — | 46,817 | — | — | 46,817 | U.S. obligation MBS | — | 43,690 | — | — | 43,690 | ||||||||||||||||||||||||||||||||||
GSE MBS | GSE MBS | — | 6,126,831 | — | — | 6,126,831 | GSE MBS | — | 6,264,926 | — | — | 6,264,926 | ||||||||||||||||||||||||||||||||||
Total mortgage-backed securities | Total mortgage-backed securities | — | 6,173,648 | — | — | 6,173,648 | Total mortgage-backed securities | — | 6,308,616 | — | — | 6,308,616 | ||||||||||||||||||||||||||||||||||
TOTAL INVESTMENTS | TOTAL INVESTMENTS | $ | 44,865 | $ | 10,998,889 | $ | 3,824,127 | $ | 2,000,000 | $ | 16,867,881 | TOTAL INVESTMENTS | $ | 43,940 | $ | 10,869,606 | $ | 6,454,101 | $ | 2,000,000 | $ | 19,367,647 |
12/31/2021 | |||||||||||||||||||||||
Carrying Value1 | |||||||||||||||||||||||
Investment Grade | Unrated | Total | |||||||||||||||||||||
Triple-A | Double-A | Single-A | |||||||||||||||||||||
Interest-bearing deposits2 | $ | 311 | $ | 1,090 | $ | 691,848 | $ | — | $ | 693,249 | |||||||||||||
Federal funds sold2 | — | 175,000 | 3,185,000 | — | 3,360,000 | ||||||||||||||||||
Securities purchased under agreements to resell3 | — | — | — | 1,500,000 | 1,500,000 | ||||||||||||||||||
Investment securities: | |||||||||||||||||||||||
Non-mortgage-backed securities: | |||||||||||||||||||||||
Certificates of deposit2 | — | — | 200,023 | — | 200,023 | ||||||||||||||||||
U.S. Treasury obligations | — | 3,733,909 | — | — | 3,733,909 | ||||||||||||||||||
GSE debentures | — | 415,918 | — | — | 415,918 | ||||||||||||||||||
State or local housing agency obligations | 44,865 | 30,000 | — | — | 74,865 | ||||||||||||||||||
Total non-mortgage-backed securities | 44,865 | 4,179,827 | 200,023 | — | 4,424,715 | ||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||
U.S. obligation MBS | — | 50,767 | — | — | 50,767 | ||||||||||||||||||
GSE MBS | — | 6,029,843 | — | — | 6,029,843 | ||||||||||||||||||
Total mortgage-backed securities | — | 6,080,610 | — | — | 6,080,610 | ||||||||||||||||||
TOTAL INVESTMENTS | $ | 45,176 | $ | 10,436,527 | $ | 4,076,871 | $ | 1,500,000 | $ | 16,058,574 |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||
Trading securities: | Trading securities: | Trading securities: | ||||||||||||||
Non-mortgage-backed securities: | Non-mortgage-backed securities: | Non-mortgage-backed securities: | ||||||||||||||
Fixed rate | Fixed rate | $ | 2,007,164 | $ | 1,533,413 | Fixed rate | $ | 1,685,381 | $ | 1,533,413 | ||||||
Non-mortgage-backed securities | Non-mortgage-backed securities | 2,007,164 | 1,533,413 | Non-mortgage-backed securities | 1,685,381 | 1,533,413 | ||||||||||
Mortgage-backed securities: | Mortgage-backed securities: | Mortgage-backed securities: | ||||||||||||||
Fixed rate | Fixed rate | 739,020 | 775,050 | Fixed rate | 647,192 | 775,050 | ||||||||||
Variable rate | Variable rate | 29,634 | 31,492 | Variable rate | 27,664 | 31,492 | ||||||||||
Mortgage-backed securities | Mortgage-backed securities | 768,654 | 806,542 | Mortgage-backed securities | 674,856 | 806,542 | ||||||||||
Total trading securities | Total trading securities | 2,775,818 | 2,339,955 | Total trading securities | 2,360,237 | 2,339,955 | ||||||||||
Available-for-sale securities: | Available-for-sale securities: | Available-for-sale securities: | ||||||||||||||
Non-mortgage-backed securities: | Non-mortgage-backed securities: | Non-mortgage-backed securities: | ||||||||||||||
Fixed rate | Fixed rate | 2,788,059 | 2,816,437 | Fixed rate | 2,835,439 | 2,816,437 | ||||||||||
Non-mortgage-backed securities | Non-mortgage-backed securities | 2,788,059 | 2,816,437 | Non-mortgage-backed securities | 2,835,439 | 2,816,437 | ||||||||||
Mortgage-backed securities: | Mortgage-backed securities: | Mortgage-backed securities: | ||||||||||||||
Fixed rate | Fixed rate | 3,086,266 | 3,322,673 | Fixed rate | 3,105,413 | 3,322,673 | ||||||||||
Variable rate | Variable rate | 1,972,010 | 1,580,075 | Variable rate | 2,202,979 | 1,580,075 | ||||||||||
Mortgage-backed securities | Mortgage-backed securities | 5,058,276 | 4,902,748 | Mortgage-backed securities | 5,308,392 | 4,902,748 | ||||||||||
Total available-for-sale securities | Total available-for-sale securities | 7,846,335 | 7,719,185 | Total available-for-sale securities | 8,143,831 | 7,719,185 | ||||||||||
Held-to-maturity securities: | Held-to-maturity securities: | Held-to-maturity securities: | ||||||||||||||
Non-mortgage-backed securities: | Non-mortgage-backed securities: | Non-mortgage-backed securities: | ||||||||||||||
Variable rate | Variable rate | 74,865 | 74,865 | Variable rate | 73,940 | 74,865 | ||||||||||
Non-mortgage-backed securities | Non-mortgage-backed securities | 74,865 | 74,865 | Non-mortgage-backed securities | 73,940 | 74,865 | ||||||||||
Mortgage-backed securities: | Mortgage-backed securities: | Mortgage-backed securities: | ||||||||||||||
Fixed rate | Fixed rate | 44,131 | 48,399 | Fixed rate | 39,899 | 48,399 | ||||||||||
Variable rate | Variable rate | 302,587 | 322,921 | Variable rate | 285,469 | 322,921 | ||||||||||
Mortgage-backed securities | Mortgage-backed securities | 346,718 | 371,320 | Mortgage-backed securities | 325,368 | 371,320 | ||||||||||
Total held-to-maturity securities | Total held-to-maturity securities | 421,583 | 446,185 | Total held-to-maturity securities | 399,308 | 446,185 | ||||||||||
TOTAL | TOTAL | $ | 11,043,736 | $ | 10,505,325 | TOTAL | $ | 10,903,376 | $ | 10,505,325 |
03/31/2022 | 12/31/2021 | 06/30/2022 | 12/31/2021 | |||||||||||||
Bonds: | Bonds: | Bonds: | ||||||||||||||
Par value | Par value | $ | 39,262,850 | $ | 37,658,250 | Par value | $ | 33,341,545 | $ | 37,658,250 | ||||||
Premiums | Premiums | 26,015 | 27,470 | Premiums | 23,786 | 27,470 | ||||||||||
Discounts | Discounts | (2,604) | (2,720) | Discounts | (2,537) | (2,720) | ||||||||||
Concession fees | Concession fees | (11,463) | (11,877) | Concession fees | (11,375) | (11,877) | ||||||||||
Hedging adjustments | Hedging adjustments | (314,077) | (40,514) | Hedging adjustments | (423,273) | (40,514) | ||||||||||
Total bonds | Total bonds | 38,960,721 | 37,630,609 | Total bonds | 32,928,146 | 37,630,609 | ||||||||||
Discount Notes: | Discount Notes: | Discount Notes: | ||||||||||||||
Par value | Par value | 7,848,461 | 6,569,580 | Par value | 20,185,211 | 6,569,580 | ||||||||||
Discounts | Discounts | (3,457) | (469) | Discounts | (87,305) | (469) | ||||||||||
Concession fees | Concession fees | (123) | (122) | Concession fees | (748) | (122) | ||||||||||
Hedging adjustments | Hedging adjustments | (1,230) | — | Hedging adjustments | (20,827) | — | ||||||||||
Total discount notes | Total discount notes | 7,843,651 | 6,568,989 | Total discount notes | 20,076,331 | 6,568,989 | ||||||||||
TOTAL | TOTAL | $ | 46,804,372 | $ | 44,199,598 | TOTAL | $ | 53,004,477 | $ | 44,199,598 |
Requirement | Requirement | 03/31/2022 | 12/31/2021 | Requirement | 06/30/2022 | 12/31/2021 | ||||||||||
Asset-based (Class A Common Stock only) | Asset-based (Class A Common Stock only) | $ | 172,672 | $ | 172,913 | Asset-based (Class A Common Stock only) | $ | 179,927 | $ | 172,913 | ||||||
Activity-based (additional Class B Common Stock)1 | Activity-based (additional Class B Common Stock)1 | 1,292,190 | 1,192,421 | Activity-based (additional Class B Common Stock)1 | 1,468,940 | 1,192,421 | ||||||||||
Total Required Stock2 | Total Required Stock2 | 1,464,862 | 1,365,334 | Total Required Stock2 | 1,648,867 | 1,365,334 | ||||||||||
Excess Stock (Class A and B Common Stock) | Excess Stock (Class A and B Common Stock) | 109,854 | 134,549 | Excess Stock (Class A and B Common Stock) | 172,686 | 134,549 | ||||||||||
Total Regulatory Capital Stock2 | Total Regulatory Capital Stock2 | $ | 1,574,716 | $ | 1,499,883 | Total Regulatory Capital Stock2 | $ | 1,821,553 | $ | 1,499,883 | ||||||
Activity-based Requirements: | Activity-based Requirements: | Activity-based Requirements: | ||||||||||||||
Advances3 | Advances3 | $ | 1,150,177 | $ | 1,047,866 | Advances3 | $ | 1,335,921 | $ | 1,047,866 | ||||||
Letters of credit | Letters of credit | 12,094 | 13,020 | Letters of credit | 12,264 | 13,020 | ||||||||||
AMA assets (mortgage loans)4 | AMA assets (mortgage loans)4 | 236,513 | 239,577 | AMA assets (mortgage loans)4 | 236,696 | 239,577 | ||||||||||
Total Activity-based Requirement | Total Activity-based Requirement | 1,398,784 | 1,300,463 | Total Activity-based Requirement | 1,584,881 | 1,300,463 | ||||||||||
Asset-based Requirement (Class A Common Stock) not supporting member activity1 | Asset-based Requirement (Class A Common Stock) not supporting member activity1 | 66,078 | 64,871 | Asset-based Requirement (Class A Common Stock) not supporting member activity1 | 63,986 | 64,871 | ||||||||||
Total Required Stock2 | Total Required Stock2 | $ | 1,464,862 | $ | 1,365,334 | Total Required Stock2 | $ | 1,648,867 | $ | 1,365,334 |
Applicable Rate per Annum | Applicable Rate per Annum | 03/31/2022 | 12/31/2021 | 09/30/2021 | 06/30/2021 | 03/31/2021 | Applicable Rate per Annum | 06/30/2022 | 03/31/2022 | 12/31/2021 | 09/30/2021 | 06/30/2021 | ||||||||||||||||||||||
Class A Common Stock | Class A Common Stock | 0.25 | % | 0.25 | % | 0.25 | % | 0.25 | % | 0.25 | % | Class A Common Stock | 1.00 | % | 0.25 | % | 0.25 | % | 0.25 | % | 0.25 | % | ||||||||||||
Class B Common Stock1 | Class B Common Stock1 | 5.75 | 6.75 | 5.25 | 5.25 | 5.25 | Class B Common Stock1 | 6.50 | 5.75 | 6.75 | 5.25 | 5.25 | ||||||||||||||||||||||
Weighted Average2 | Weighted Average2 | 4.88 | 5.62 | 4.15 | 4.06 | 4.15 | Weighted Average2 | 5.63 | 4.88 | 5.62 | 4.15 | 4.06 | ||||||||||||||||||||||
Dividend Parity Threshold: | Dividend Parity Threshold: | Dividend Parity Threshold: | ||||||||||||||||||||||||||||||||
Average effective overnight Federal funds rate | Average effective overnight Federal funds rate | 0.12 | % | 0.08 | % | 0.09 | % | 0.07 | % | 0.08 | % | Average effective overnight Federal funds rate | 0.76 | % | 0.12 | % | 0.08 | % | 0.09 | % | 0.07 | % | ||||||||||||
Spread to index | Spread to index | (1.00) | (1.00) | (1.00) | (1.00) | (1.00) | Spread to index | (1.00) | (1.00) | (1.00) | (1.00) | (1.00) | ||||||||||||||||||||||
TOTAL (floored at zero percent) | TOTAL (floored at zero percent) | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | TOTAL (floored at zero percent) | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % |
03/31/2022 | ||||||||||||||||
06/30/2022 | 06/30/2022 | |||||||||||||||
Index | Index | Amount | Percent | Index | Amount | Percent | ||||||||||
Non-mortgage-backed securities: | Non-mortgage-backed securities: | Non-mortgage-backed securities: | ||||||||||||||
LIBOR | LIBOR | $ | 74,865 | 3.1 | % | LIBOR | $ | 73,940 | 2.8 | % | ||||||
Non-mortgage-backed securities | Non-mortgage-backed securities | 74,865 | 3.1 | Non-mortgage-backed securities | 73,940 | 2.8 | ||||||||||
Mortgage-backed securities: | Mortgage-backed securities: | Mortgage-backed securities: | ||||||||||||||
LIBOR | LIBOR | 1,771,822 | 74.4 | LIBOR | 1,662,382 | 64.0 | ||||||||||
SOFR | SOFR | 533,659 | 22.4 | SOFR | 863,193 | 33.2 | ||||||||||
Other | Other | 19 | 0.1 | Other | 18 | — | ||||||||||
Mortgage-backed securities | Mortgage-backed securities | 2,305,500 | 96.9 | Mortgage-backed securities | 2,525,593 | 97.2 | ||||||||||
TOTAL | TOTAL | $ | 2,380,365 | 100.0 | % | TOTAL | $ | 2,599,533 | 100.0 | % |
03/31/2022 | ||||||||||||||||||||||||||||||||||
06/30/2022 | 06/30/2022 | |||||||||||||||||||||||||||||||||
Year of Contractual Maturity | Year of Contractual Maturity | Amount | Year of Contractual Maturity | Amount | ||||||||||||||||||||||||||||||
Non-mortgage-backed securities: | Non-mortgage-backed securities: | Non-mortgage-backed securities: | ||||||||||||||||||||||||||||||||
After June 30, 2023 | After June 30, 2023 | $ | 74,865 | After June 30, 2023 | $ | 73,940 | ||||||||||||||||||||||||||||
Non-mortgage-backed securities | Non-mortgage-backed securities | 74,865 | Non-mortgage-backed securities | 73,940 | ||||||||||||||||||||||||||||||
Mortgage-backed securities: | Mortgage-backed securities: | Mortgage-backed securities: | ||||||||||||||||||||||||||||||||
2022 | 2022 | 35,690 | 2022 | 20,300 | ||||||||||||||||||||||||||||||
Through June 30, 2023 | Through June 30, 2023 | 76,257 | Through June 30, 2023 | 61,482 | ||||||||||||||||||||||||||||||
Thereafter | Thereafter | 1,659,875 | Thereafter | 1,580,600 | ||||||||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | 1,771,822 | Mortgage-backed securities | 1,662,382 | ||||||||||||||||||||||||||||||
TOTAL | TOTAL | $ | 1,846,687 | TOTAL | $ | 1,736,322 |
03/31/2022 | ||||||||||||||||
06/30/2022 | 06/30/2022 | |||||||||||||||
Index | Index | Pay Side | Receive Side | Index | Pay Side | Receive Side | ||||||||||
Fixed rate | Fixed rate | $ | 14,395,497 | $ | 11,108,244 | Fixed rate | $ | 13,953,230 | $ | 21,249,130 | ||||||
LIBOR | LIBOR | 25,000 | 4,769,475 | LIBOR | 25,000 | 4,076,484 | ||||||||||
SOFR | SOFR | 9,448,244 | 7,739,722 | SOFR | 19,393,956 | 8,086,551 | ||||||||||
OIS | OIS | 1,635,000 | 1,886,300 | OIS | 1,830,173 | 1,790,194 | ||||||||||
TOTAL | TOTAL | $ | 25,503,741 | $ | 25,503,741 | TOTAL | $ | 35,202,359 | $ | 35,202,359 |
03/31/2022 | ||||||||||||||||||||||||||||
06/30/2022 | 06/30/2022 | |||||||||||||||||||||||||||
Year | Year | Pay Side | Receive Side | Year | Pay Side | Receive Side | ||||||||||||||||||||||
Cleared | Bilateral | Cleared | Bilateral | Cleared | Bilateral | Cleared | Bilateral | |||||||||||||||||||||
2022 | 2022 | $ | — | $ | — | $ | 71,230 | $ | 35,000 | 2022 | $ | — | $ | — | $ | 31,330 | $ | 2,850 | ||||||||||
Prior to June 30, 2023 | Prior to June 30, 2023 | — | — | 301,065 | — | Prior to June 30, 2023 | — | — | 301,023 | — | ||||||||||||||||||
Thereafter | Thereafter | — | 25,000 | 887,647 | 3,474,533 | Thereafter | — | 25,000 | 870,301 | 2,870,980 | ||||||||||||||||||
TOTAL | TOTAL | $ | — | $ | 25,000 | $ | 1,259,942 | $ | 3,509,533 | TOTAL | $ | — | $ | 25,000 | $ | 1,202,654 | $ | 2,873,830 |
Duration of Equity | Duration of Equity | Duration of Equity | ||||||||||||||||||||||||||||||||
Date | Date | Up 200 Basis Points | Base | Down 200 Basis Points | Date | Up 200 Basis Points | Base | Down 200 Basis Points | ||||||||||||||||||||||||||
06/30/2022 | 06/30/2022 | 1.6 | 2.2 | 3.3 | ||||||||||||||||||||||||||||||
03/31/2022 | 03/31/2022 | 1.5 | 0.7 | 3.4 | 03/31/2022 | 1.5 | 0.7 | 3.4 | ||||||||||||||||||||||||||
12/31/2021 | 12/31/2021 | 0.6 | -0.4 | 1.5 | 12/31/2021 | 0.6 | -0.4 | 1.5 | ||||||||||||||||||||||||||
09/30/2021 | 09/30/2021 | 0.4 | -2.7 | 1.5 | 09/30/2021 | 0.4 | -2.7 | 1.5 | ||||||||||||||||||||||||||
06/30/2021 | 06/30/2021 | -0.1 | -2.4 | 1.2 | 06/30/2021 | -0.1 | -2.4 | 1.2 | ||||||||||||||||||||||||||
03/31/2021 | -0.4 | -4.0 | 1.7 |
Market Value of Equity as a Percent of Total Regulatory Capital Stock | Market Value of Equity as a Percent of Total Regulatory Capital Stock | Market Value of Equity as a Percent of Total Regulatory Capital Stock | ||||||||||||||||||||||||||||||||
Date | Date | Up 200 Basis Points | Base | Down 200 Basis Points | Date | Up 200 Basis Points | Base | Down 200 Basis Points | ||||||||||||||||||||||||||
06/30/2022 | 06/30/2022 | 154 | 159 | 168 | ||||||||||||||||||||||||||||||
03/31/2022 | 03/31/2022 | 176 | 177 | 182 | 03/31/2022 | 176 | 177 | 182 | ||||||||||||||||||||||||||
12/31/2021 | 12/31/2021 | 186 | 184 | 195 | 12/31/2021 | 186 | 184 | 195 | ||||||||||||||||||||||||||
09/30/2021 | 09/30/2021 | 209 | 201 | 206 | 09/30/2021 | 209 | 201 | 206 | ||||||||||||||||||||||||||
06/30/2021 | 06/30/2021 | 201 | 192 | 196 | 06/30/2021 | 201 | 192 | 196 | ||||||||||||||||||||||||||
03/31/2021 | 205 | 194 | 191 |
03/31/2022 | ||||||||||||||||||||||||||||||||||
06/30/2022 | 06/30/2022 | |||||||||||||||||||||||||||||||||
Hedged Item | Hedged Item | Hedging Instrument | Hedging Objective | Accounting Designation | Notional Amount | Fair Value Amount | Hedged Item | Hedging Instrument | Hedging Objective | Accounting Designation | Notional Amount | Fair Value Amount | ||||||||||||||||||||||
Advances | Advances | Advances | ||||||||||||||||||||||||||||||||
Fixed rate non-callable advances | Fixed rate non-callable advances | Pay fixed, receive variable interest rate swap | Convert the advance’s fixed rate to a variable rate index | Fair Value Hedge | $ | 5,278,642 | $ | 8,993 | Fixed rate non-callable advances | Pay fixed, receive variable interest rate swap | Convert the advance’s fixed rate to a variable rate index | Fair Value Hedge | $ | 5,502,629 | $ | (2,132) | ||||||||||||||||||
Fixed rate convertible advances | Fixed rate convertible advances | Pay fixed, receive variable interest rate swap | Convert the advance’s fixed rate to a variable rate index and offset option risk in the advance | Fair Value Hedge | 1,333,150 | (7,712) | Fixed rate convertible advances | Pay fixed, receive variable interest rate swap | Convert the advance’s fixed rate to a variable rate index and offset option risk in the advance | Fair Value Hedge | 728,600 | 3,598 | ||||||||||||||||||||||
Firm commitment to issue a fixed rate advance | Forward settling interest rate swap | Protect against fair value risk | Economic Hedge | 2,490 | — | |||||||||||||||||||||||||||||
Fixed rate non-callable advances | Fixed rate non-callable advances | Pay fixed, receive variable interest rate swap | Convert the advance’s fixed rate to a variable rate index | Economic Hedge | 31,977 | (251) | Fixed rate non-callable advances | Pay fixed, receive variable interest rate swap | Convert the advance’s fixed rate to a variable rate index | Economic Hedge | 34,362 | 263 | ||||||||||||||||||||||
Firm commitment to issue a fixed rate advance | Firm commitment to issue a fixed rate advance | Forward settling interest rate swap | Protect against fair value risk | Fair Value Hedge | 29,316 | 494 | Firm commitment to issue a fixed rate advance | Forward settling interest rate swap | Protect against fair value risk | Fair Value Hedge | 26,370 | 766 | ||||||||||||||||||||||
Investments | Investments | Investments | ||||||||||||||||||||||||||||||||
Fixed rate non-MBS available-for-sale investments | Fixed rate non-MBS available-for-sale investments | Pay fixed, receive variable interest rate swap | Convert the investment’s fixed rate to a variable rate index | Fair Value Hedge | 2,750,000 | (1,173) | Fixed rate non-MBS available-for-sale investments | Pay fixed, receive variable interest rate swap | Convert the investment’s fixed rate to a variable rate index | Fair Value Hedge | 2,850,000 | (9,058) | ||||||||||||||||||||||
Fixed rate MBS available-for-sale investments | Fixed rate MBS available-for-sale investments | Pay fixed, receive variable interest rate swap | Convert the investment’s fixed rate to a variable rate index | Fair Value Hedge | 2,933,444 | 6,075 | Fixed rate MBS available-for-sale investments | Pay fixed, receive variable interest rate swap | Convert the investment’s fixed rate to a variable rate index | Fair Value Hedge | 3,105,163 | 23,193 | ||||||||||||||||||||||
Fixed rate non-MBS trading investments | Fixed rate non-MBS trading investments | Pay fixed, receive variable interest rate swap | Convert the investment’s fixed rate to a variable rate index | Economic Hedge | 1,298,500 | 482 | Fixed rate non-MBS trading investments | Pay fixed, receive variable interest rate swap | Convert the investment’s fixed rate to a variable rate index | Economic Hedge | 1,048,500 | (1,342) | ||||||||||||||||||||||
Fixed rate MBS trading investments | Fixed rate MBS trading investments | Pay fixed, receive variable interest rate swap | Convert the investment’s fixed rate to a variable rate index | Economic Hedge | 737,978 | 5,589 | Fixed rate MBS trading investments | Pay fixed, receive variable interest rate swap | Convert the investment’s fixed rate to a variable rate index | Economic Hedge | 657,605 | 15,141 | ||||||||||||||||||||||
Adjustable rate MBS with embedded caps | Adjustable rate MBS with embedded caps | Interest rate cap | Offset the interest rate cap embedded in a variable rate investment | Economic Hedge | 354,000 | 1,276 | Adjustable rate MBS with embedded caps | Interest rate cap | Offset the interest rate cap embedded in a variable rate investment | Economic Hedge | 329,000 | 1,421 | ||||||||||||||||||||||
Mortgage Loans Held for Portfolio | Mortgage Loans Held for Portfolio | Mortgage Loans Held for Portfolio | ||||||||||||||||||||||||||||||||
Fixed rate mortgage purchase commitments | Fixed rate mortgage purchase commitments | Mortgage purchase commitment | Protect against fair value risk | Economic Hedge | 129,831 | (1,906) | Fixed rate mortgage purchase commitments | Mortgage purchase commitment | Protect against fair value risk | Economic Hedge | 101,659 | (17) | ||||||||||||||||||||||
Consolidated Obligation Discount Notes | Consolidated Obligation Discount Notes | Consolidated Obligation Discount Notes | ||||||||||||||||||||||||||||||||
Fixed rate non-callable consolidated obligation discount notes with tenors less than 6 months | Fixed rate non-callable consolidated obligation discount notes with tenors less than 6 months | Receive fixed, pay variable interest rate swap | Convert the discount note's fixed rate to a variable rate | Economic Hedge | 3,714,902 | 268 | ||||||||||||||||||||||||||||
Fixed rate non-callable consolidated obligation discount notes with tenors of 6 to 12 months | Fixed rate non-callable consolidated obligation discount notes with tenors of 6 to 12 months | Receive fixed, pay variable interest rate swap | Convert the discount note's fixed rate to a variable rate | Fair Value Hedge | 698,244 | (102) | Fixed rate non-callable consolidated obligation discount notes with tenors of 6 to 12 months | Receive fixed, pay variable interest rate swap | Convert the discount note's fixed rate to a variable rate | Fair Value Hedge | 6,913,228 | 2,530 | ||||||||||||||||||||||
Consolidated Obligation Bonds | Consolidated Obligation Bonds | Consolidated Obligation Bonds | ||||||||||||||||||||||||||||||||
Fixed rate non-callable consolidated obligation bonds | Fixed rate non-callable consolidated obligation bonds | Receive fixed, pay variable interest rate swap | Convert the bond’s fixed rate to a variable rate index | Fair Value Hedge | 2,707,000 | 5,044 | Fixed rate non-callable consolidated obligation bonds | Receive fixed, pay variable interest rate swap | Convert the bond’s fixed rate to a variable rate index | Fair Value Hedge | 432,000 | (644) | ||||||||||||||||||||||
Fixed rate callable consolidated obligation bonds | Fixed rate callable consolidated obligation bonds | Receive fixed, pay variable interest rate swap | Convert the bond’s fixed rate to a variable rate index and offset option risk in the bond | Fair Value Hedge | 6,201,000 | (230,703) | Fixed rate callable consolidated obligation bonds | Receive fixed, pay variable interest rate swap | Convert the bond’s fixed rate to a variable rate index and offset option risk in the bond | Fair Value Hedge | 8,037,000 | (309,546) | ||||||||||||||||||||||
Variable rate consolidated obligation bonds | Variable rate consolidated obligation bonds | Receive variable interest rate, pay variable interest rate swap | Reduce basis risk by converting an undesirable variable rate index in the bond to a more desirable variable rate index | Economic Hedge | 50,000 | 125 | ||||||||||||||||||||||||||||
Callable step-up/step-down consolidated obligation bonds | Callable step-up/step-down consolidated obligation bonds | Receive variable interest rate with embedded features, pay variable interest rate swap | Reduce interest rate sensitivity and repricing gaps by converting the bond’s variable rate to a different variable rate index and/or to offset embedded options risk in the bond | Fair Value Hedge | 2,102,000 | (86,251) | ||||||||||||||||||||||||||||
Callable step-up/step-down consolidated obligation bonds | Receive variable interest rate with embedded features, pay variable interest rate swap | Reduce interest rate sensitivity and repricing gaps by converting the bond’s variable rate to a different variable rate index and/or to offset embedded options risk in the bond | Fair Value Hedge | 1,487,000 | (63,208) | |||||||||||||||||||||||||||||
Firm commitment to issue a consolidated obligation bond | Receive fixed, pay variable interest rate swap | Protect against fair value risk | Fair Value Hedge | 15,000 | (165) | |||||||||||||||||||||||||||||
TOTAL | TOTAL | $ | 25,987,572 | $ | (277,267) | TOTAL | $ | 35,633,018 | $ | (361,685) |
12/31/2021 | |||||||||||||||||
Hedged Item | Hedging Instrument | Hedging Objective | Accounting Designation | Notional Amount | Fair Value Amount | ||||||||||||
Advances | |||||||||||||||||
Fixed rate non-callable advances | Pay fixed, receive variable interest rate swap | Convert the advance’s fixed rate to a variable rate index | Fair Value Hedge | $ | 4,808,953 | $ | (7,734) | ||||||||||
Fixed rate convertible advances | Pay fixed, receive variable interest rate swap | Convert the advance’s fixed rate to a variable rate index and offset option risk in the advance | Fair Value Hedge | 1,385,150 | (38,292) | ||||||||||||
Fixed rate non-callable advances | Pay fixed, receive variable interest rate swap | Convert the advance’s fixed rate to a variable rate index | Economic Hedge | 37,977 | (1,189) | ||||||||||||
Firm commitment to issue a fixed rate advance | Forward settling interest rate swap | Protect against fair value risk | Fair Value Hedge | 18,316 | 232 | ||||||||||||
Firm commitment to issue a fixed rate advance | Forward settling interest rate swap | Protect against fair value risk | Economic Hedge | 2,490 | — | ||||||||||||
Investments | |||||||||||||||||
Fixed rate MBS available-for-sale investments | Pay fixed, receive variable interest rate swap | Convert the investment’s fixed rate to a variable rate index | Fair Value Hedge | 2,970,019 | (57,966) | ||||||||||||
Fixed rate non-MBS available-for-sale investments | Pay fixed, receive variable interest rate swap | Convert the investment’s fixed rate to a variable rate index | Fair Value Hedge | 2,700,000 | (424) | ||||||||||||
Fixed rate non-MBS trading investments | Pay fixed, receive variable interest rate swap | Convert the investment’s fixed rate to a variable rate index | Economic Hedge | 1,298,500 | (115) | ||||||||||||
Fixed rate MBS trading investments | Pay fixed, receive variable interest rate swap | Convert the investment’s fixed rate to a variable rate index | Economic Hedge | 740,863 | (27,654) | ||||||||||||
Adjustable rate MBS with embedded caps | Interest rate cap | Offset the interest rate cap embedded in a variable rate investment | Economic Hedge | 477,500 | 335 | ||||||||||||
Mortgage Loans Held for Portfolio | |||||||||||||||||
Fixed rate mortgage purchase commitments | Mortgage purchase commitment | Protect against fair value risk | Economic Hedge | 72,025 | (13) | ||||||||||||
Consolidated Obligation Bonds | |||||||||||||||||
Fixed rate callable consolidated obligation bonds | Receive fixed, pay variable interest rate swap | Convert the bond’s fixed rate to a variable rate index and offset option risk in the bond | Fair Value Hedge | 4,682,000 | (35,627) | ||||||||||||
Fixed rate non-callable consolidated obligation bonds | Receive fixed, pay variable interest rate swap | Convert the bond’s fixed rate to a variable rate index | Fair Value Hedge | 1,187,000 | 14,261 | ||||||||||||
Callable step-up/step-down consolidated obligation bonds | Receive variable interest rate with embedded features, pay variable interest rate swap | Reduce interest rate sensitivity and repricing gaps by converting the bond’s variable rate to a different variable rate index and/or to offset embedded options risk in the bond | Fair Value Hedge | 924,000 | (10,017) | ||||||||||||
Firm commitment to issue a consolidated obligation bond | Receive fixed, pay variable interest rate swap | Protect against fair value risk | Fair Value Hedge | 20,000 | (57) | ||||||||||||
TOTAL | $ | 21,324,793 | $ | (164,260) | |||||||||||||
Exhibit No. | Description | ||||
Exhibit 3.1 to the FHLBank’s registration statement on Form 10, filed May 15, 2006, and made effective on July 14, 2006 (File No. 000-52004), Federal Home Loan Bank of Topeka Articles and Organization Certificate, is incorporated herein by reference as Exhibit 3.1. | |||||
Exhibit 3.1 to the Current Report on Form 8-K, filed September 24, 2021, Federal Home Loan Bank of Topeka Amended and Restated Bylaws, is incorporated herein by reference as Exhibit 3.2. | |||||
Exhibit 4.1 to the Annual Report on Form 10-K, filed March 20, 2020, Federal Home Loan Bank of Topeka Capital Plan. | |||||
Certification of President and Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |||||
Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |||||
Certification of President and Chief Executive Officer (Principal Executive Officer) and Chief Financial Officer (Principal Financial Officer) pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | |||||
101.INS | Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document) | ||||
101.SCH | Inline XBRL Taxonomy Extension Schema Document | ||||
101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document | ||||
101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document | ||||
101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document | ||||
101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document | ||||
104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) |
Federal Home Loan Bank of Topeka | |||||
By: /s/ Mark E. Yardley | |||||
Date | Mark E. Yardley | ||||
President and Chief Executive Officer | |||||