Federal Home Loan Bank Of San Francisco 10-Q 5 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2023	Apr. 30, 2023
Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	000-51398
Entity Registrant Name	FEDERAL HOME LOAN BANK OF SAN FRANCISCO
Entity Incorporation, State or Country Code	X1
Entity Central Index Key	0001316944
Entity Tax Identification Number	94-6000630
Entity Address, Address Line One	333 Bush Street, Suite 2700
Entity Address, City or Town	San Francisco,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94104
City Area Code	415
Local Phone Number	616-1000
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Interactive Data Current	Yes
Entity Shell Company	false
Common Stock, Shares, Outstanding		42,010,587

Statements of Condition

Statements of Condition - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
Assets:
Cash and due from banks		$ 17	$ 9
Interest-bearing deposits		3,760	3,677
Securities purchased under agreements to resell		11,100	7,000
Federal funds sold		9,427	4,719
Trading securities		1	1
Available-for-sale (AFS) securities, net of allowance for credit losses of $28 and $30, respectively (amortized cost of $13,394 and $12,757, respectively)(a)	[1]	13,320	12,713
Held-to-maturity (HTM) securities (fair values of $2,068 and $2,136, respectively)	[2]	2,104	2,181
Advances (includes $2,392 and $2,059 at fair value under the fair value option, respectively)		101,541	89,400
Mortgage loans held for portfolio, net of allowance for credit losses of $1 and $1, respectively		801	815
Accrued interest receivable		178	313
Derivative assets, net		6	26
Other assets		238	202
Total Assets		142,493	121,056
Liabilities:
Deposits		1,022	989
Consolidated obligations:
Bonds (includes $782 and $2,226 at fair value under the fair value option, respectively)		95,034	75,768
Discount notes		37,356	35,929
Total consolidated obligations		132,390	111,697
Mandatorily redeemable capital stock		95	5
Accrued interest payable		508	326
Affordable Housing Program (AHP) payable		123	111
Derivative liabilities, net		11	2
Other liabilities		272	203
Total Liabilities		134,421	113,333
Commitments and Contingencies (Note 13)
Capital:
Capital stock-Class B-Putable ($100 par value) issued and outstanding: 33 shares and 21 shares, respectively		4,007	3,758
Unrestricted retained earnings		3,356	3,262
Restricted retained earnings		770	732
Total Retained Earnings		4,126	3,994
Accumulated other comprehensive income/(loss) (AOCI)		(61)	(29)
Total Capital		8,072	7,723
Total Liabilities and Capital		$ 142,493	$ 121,056
[1]At March 31, 2023, and December 31, 2022, $864 million and $435 million, respectively, of these securities were pledged as collateral that may be repledged.[2]Amortized cost includes unpaid principal balance, unamortized premiums and discounts, and net charge-offs, and excludes accrued interest receivable of $6 million and $5 million at March 31, 2023, and December 31, 2022, respectively.

Statements of Condition (Parent

Statements of Condition (Parenthetical) - USD ($) shares in Millions, $ in Millions		Mar. 31, 2023	Dec. 31, 2022
Debt securities, available-for-sale, amortized cost, allowance for credit loss, excluding accrued interest		$ 28	$ 30
Amortized cost of AFS	[1]	13,394	12,757
HTM securities, fair value		2,068	2,136
Fair value of advances under the fair value option	[2]	2,392	2,059
Allowance for credit losses on mortgage loans		$ 1	1
Common stock, par value		$ 100
Available-for-sale securities pledged as collateral that may be repledged		$ 864	435
Portion at Fair Value Measurement
Fair value of advances under the fair value option		2,392	2,059
Fair value of bonds under the fair value option		$ 782	$ 2,226
Common Class B [Member]
Common stock, par value		$ 100	$ 100
Common Stock, Shares, Outstanding		40	38
Common Stock, Shares, Issued		40	38
[1]Amortized cost includes unpaid principal balance, unamortized premiums and discounts, net charge-offs, and valuation adjustments for hedging activities, and excludes accrued interest receivable

Statements of Income

Statements of Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest Income:
Advances	$ 1,163	$ 39
Interest-bearing deposits	50	0
Securities purchased under agreements to resell	92	1
Federal funds sold	130	3
AFS securities	190	54
HTM securities	24	7
Mortgage loans held for portfolio	7	17
Total Interest Income	1,656	121
Interest Expense:
Bonds	920	12
Discount notes	435	6
Deposits	13	0
Borrowings from other Federal Home Loan Banks	1	0
Total Interest Expense	1,369	18
Net Interest Income	287	103
Provision for/(reversal of) credit losses	(1)	(3)
Net Interest Income After Provision for/(Reversal of) Credit Losses	288	106
Other Income/(Loss):
Net gain/(loss) on advances and consolidated obligation bonds held under fair value option	1	(21)
Net gain/(loss) on derivatives	(34)	8
Private-Label Residential Mortgage-Backed Securities (PLRMBS) Trust Settlement	0	28
Standby letters of credit fees	5	4
Other, net	2	(1)
Total Other Income/(Loss)	(26)	18
Other Expense:
Compensation and benefits	27	24
Other operating expense	14	12
Federal Housing Finance Agency	2	2
Office of Finance	2	1
Other, net	0	(1)
Total Other Expense	45	38
Income/(Loss) Before AHP Assessment	217	86
AHP Assessment	22	8
Net Income/(Loss)	$ 195	$ 78

Statements of Comprehensive Inc

Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net Income/(Loss)	$ 195	$ 78
Other Comprehensive Income/(Loss):
Net unrealized gain/(loss) on AFS securities	(32)	(149)
Total other comprehensive income/(loss)	(32)	(149)
Total Comprehensive Income/(Loss)	$ 163	$ (71)

Statements of Capital Accounts

Statements of Capital Accounts - USD ($) shares in Millions, $ in Millions	Total	Total Retained Earnings	Total Restricted Retained Earnings	Unrestricted Retained Earnings	Accumulated Other Comprehensive Income/(Loss)	Common Class B - Putable Common Stock
Balance, Shares at Dec. 31, 2021						21
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of capital stock, shares						9
Repurchase of capital stock, shares						(8)
Capital stock reclassified from/(to) mandatorily redeemable capital stock, net shares						(1)
Balance, Shares at Mar. 31, 2022						21
Balance at Dec. 31, 2021	$ 6,224	$ 3,832	$ 708	$ 3,124	$ 331	$ 2,061
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive Income (Loss)	(71)	78	0	78	(149)
Issuance of capital stock, value	875					875
Repurchase of capital stock, value	(807)					(807)
Capital stock reclassified from/(to) mandatorily redeemable capital stock, net	(32)					(32)
Transfers from restricted retained earnings	0	0	(16)	(16)
Cash dividends on capital stock	(35)	(35)		(35)
Balance at Mar. 31, 2022	$ 6,154	3,875	692	3,183	182	$ 2,097
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends, Cash, Annualized Rate	6%
Balance, Shares at Dec. 31, 2022						38
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of capital stock, shares						22
Repurchase of capital stock, shares						(18)
Capital stock reclassified from/(to) mandatorily redeemable capital stock, net shares						(2)
Balance, Shares at Mar. 31, 2023						40
Balance at Dec. 31, 2022	$ 7,723	3,994	732	3,262	(29)	$ 3,758
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive Income (Loss)	163	195	38	157	(32)
Issuance of capital stock, value	2,205					2,205
Repurchase of capital stock, value	(1,761)					(1,761)
Capital stock reclassified from/(to) mandatorily redeemable capital stock, net	(195)					(195)
Transfers from restricted retained earnings			0
Cash dividends on capital stock	(63)	(63)		(63)
Balance at Mar. 31, 2023	$ 8,072	$ 4,126	$ 770	$ 3,356	$ (61)	$ 4,007
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends, Cash, Annualized Rate	7%

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net Cash Provided by (Used in) Operating Activities
Net Income/(Loss)	$ 195	$ 78
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Depreciation and amortization/(accretion)	59	25
Provision for/(reversal of) credit losses	(1)	(3)
Change in net fair value adjustment on advances and consolidated obligation bonds held under the fair value option	(1)	21
Change in net derivatives and hedging activities	(311)	568
PLRMBS trust settlement	0	28
Other adjustments, net	1	2
Net change in:
Accrued interest receivable	132	6
Other assets	(39)	7
Accrued interest payable	176	(4)
Other liabilities	40	(25)
PLRMBS contingent liability	0	(41)
Total adjustments	56	528
Net cash provided by/(used in) operating activities	251	606
Net Cash Provided by (Used in) Investing Activities
Interest-bearing deposits	27	(325)
Securities purchased under agreements to resell	(4,100)	2,000
Federal funds sold	(4,708)	(2,228)
Trading securities:
Proceeds	0	250
AFS securities:
Proceeds	80	345
Purchases	(439)	0
HTM securities:
Proceeds	77	340
Advances:
Repaid	646,350	117,731
Originated	(658,252)	(121,347)
Mortgage loans held for portfolio:
Principal collected	13	74
Net cash provided by/(used in) investing activities	(20,952)	(3,160)
Net Cash Provided by (Used in) Financing Activities
Net change in deposits and other financing activities	10	323
Net (payments)/proceeds on derivative contracts with financing elements	3	(4)
Net proceeds from issuance of consolidated obligations:
Bonds	51,508	7,488
Discount notes	48,764	24,379
Payments for matured and retired consolidated obligations:
Bonds	(32,468)	(1,013)
Discount notes	(47,384)	(28,624)
Proceeds from issuance of capital stock	2,205	875
Repurchase/redemption of mandatorily redeemable capital stock	(105)	(28)
Payments for repurchase of capital stock	(1,761)	(807)
Cash dividends paid	(63)	(35)
Net cash provided by/(used in) financing activities	20,709	2,554
Net increase/(decrease) in cash and due from banks	8	0
Cash and due from banks beginning of period	9	55
Cash and due from banks end of period	17	55
Supplemental Disclosures:
Interest paid	1,203	17
AHP payments	10	13
Transfers of HTM securities to AFS securities	0	16
Transfers of capital stock to mandatorily redeemable capital stock	$ 195	$ 32

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies (Notes)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Note 1 — Basis of Presentation and Significant Accounting Policies The information about the Federal Home Loan Bank of San Francisco (Bank) included in these unaudited financial statements reflects all adjustments that, in the opinion of the Bank, are necessary for a fair statement of results for the periods presented. These adjustments are of a recurring nature, unless otherwise disclosed. The results of operations in these interim statements are not necessarily indicative of the results to be expected for any subsequent period or for the entire year ending December 31, 2023. These unaudited financial statements should be read in conjunction with the Bank’s Annual Report on Form 10-K for the year ended December 31, 2022 (2022 Form 10-K). There have been no changes to the basis of presentation of the Bank’s financial instruments meeting netting requirements or of the Bank’s investments in variable interest entities disclosed in “Item 8. Financial Statements and Supplementary Data – Note 1 – Summary of Significant Accounting Policies” in the Bank’s 2022 Form 10-K. Use of Estimates. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make a number of judgments, estimates, and assumptions that may affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of income, expenses, gains, and losses during the reporting period. The most significant of these estimates include: • accounting for derivatives; • estimating fair values of investments classified as trading and available-for-sale (AFS), derivatives and associated hedged items carried at fair value in accordance with the accounting for derivative instruments and associated hedging activities, and financial instruments carried at fair value under the fair value option; and • estimating the prepayment speeds on mortgage-backed securities (MBS) and mortgage loans for the accounting of amortization of premiums and accretion of discounts and credit losses previously recorded before the adoption of accounting guidance related to the measurement of credit losses on MBS and mortgage loans. Actual results could differ significantly from these estimates. Descriptions of the Bank’s significant accounting policies are included in “Item 8. Financial Statements and Supplementary Data – Note 1 – Summary of Significant Accounting Policies” in the Bank’s 2022 Form 10-K. Other changes to these policies as of March 31, 2023, are discussed in Note 2 – Recently Issued and Adopted Accounting Guidance.

Recently Issued and Adopted Acc

Recently Issued and Adopted Accounting Guidance	3 Months Ended
	Mar. 31, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recently Issued Accounting Guidance	Note 2 — Recently Issued and Adopted Accounting Guidance The following table provides a summary of recently issued and adopted accounting standards that may have an effect on the Bank’s financial statements. Accounting Standards Update (ASU) Description Effective Date Effect on the Financial Statements or Other Significant Matters Facilitation of the Effects of Reference Rate Reform on Financial Reporting, as amended (ASU 2020-04) This update provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The new guidance provides optional expedients and exceptions for applying generally accepted accounting principles to transactions affected by reference rate reform if certain criteria are met. These transactions include: This guidance became effective beginning March 2020 through December 31, 2024. The Bank has assessed the guidance and has elected some of the optional expedients and exceptions provided related to the discounting transition for uncleared derivative transactions on a prospective basis since 2021, which did not have a material effect on the Bank’s financial condition, results of operations, cash flows, and financial statement disclosures. Troubled Debt Restructurings and Vintage Disclosures (ASU 2022-02) This guidance eliminates the accounting guidance for troubled debt restructurings by creditors that have adopted the current expected credit losses methodology while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors made to borrowers experiencing financial difficulty. Additionally, this guidance requires disclosure of current-period gross write-offs by year of origination for financing receivables and net investment in leases. The guidance became effective for the Bank for the interim and annual periods beginning on January 1, 2023. The Bank adopted this guidance as of January 1, 2023. The adoption of this guidance did not have a material effect on the Bank’s financial condition, results of operations, cash flows, and financial statement disclosures.

Investments (Notes)

Investments (Notes)	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Available-for-Sale Securities	Note 3 — Investments The Bank makes short-term investments in interest-bearing deposits, securities purchased under agreements to resell, and Federal funds sold, and may make other investments in debt securities, which are classified as trading, AFS, or HTM. Interest-Bearing Deposits, Securities Purchased under Agreements to Resell, and Federal Funds Sold. The Bank invests in interest-bearing deposits, securities purchased under agreements to resell, and Federal funds sold to provide short-term liquidity. These investments are generally transacted with counterparties that have received an investment grade credit rating of BBB or greater by a nationally recognized statistical rating organization (NRSRO). At March 31, 2023, and December 31, 2022, none of these investments were with counterparties rated below BBB. These may differ from any internal ratings of the investments by the Bank, if applicable. Federal funds sold are unsecured loans that are generally transacted on an overnight term. Finance Agency regulations include a limit on the amount of unsecured credit the Bank may extend to a counterparty. At March 31, 2023, and December 31, 2022, all investments in interest-bearing deposits and Federal funds sold were repaid or expected to be repaid according to the relevant contractual terms. No allowance for credit losses was recorded for these assets at March 31, 2023, and December 31, 2022. Carrying values of interest-bearing deposits and Federal funds sold exclude accrued interest receivable of $16 million and $1 million, respectively, as of March 31, 2023, and $13 million and $1 million, respectively, as of December 31, 2022. Based upon the collateral held as security and collateral maintenance provisions with its counterparties, the Bank determined that no allowance for credit losses was needed for its securities purchased under agreements to resell at March 31, 2023, and December 31, 2022. The carrying value of securities purchased under agreements to resell excludes $1 million and $2 million of accrued interest receivable as of March 31, 2023, and December 31, 2022, respectively. Debt Securities The Bank invests in debt securities, which are classified as either trading, AFS, or HTM. Within these investments, the Bank is primarily subject to credit risk related to PLRMBS that are supported by underlying mortgage loans. The Bank is prohibited by Finance Agency regulations from purchasing certain higher risk securities, such as equity securities and debt instruments that are not investment quality at the time of purchase. Trading Securities. The estimated fair value of trading securities that were MBS - other U.S. obligations was $1 million as of March 31, 2023, and December 31, 2022. The unrealized net gain/(loss) on trading securities held at March 31, 2023 and 2022, were de minimis amounts. Available-for-Sale Securities. AFS securities by major security type as of March 31, 2023, and December 31, 2022, were as follows: March 31, 2023 (In millions) Amortized Cost (1) Allowance for Credit Losses Gross Gross Estimated Fair Value U.S. obligations – Treasury notes $ 4,062 $ — $ 16 $ — $ 4,078 MBS: Government Sponsored Enterprises (GSEs) – multifamily 8,173 — — (81) 8,092 PLRMBS 1,159 (28) 45 (26) 1,150 Total MBS 9,332 (28) 45 (107) 9,242 Total $ 13,394 $ (28) $ 61 $ (107) $ 13,320 December 31, 2022 (In millions) Amortized Cost (1) Allowance for Credit Losses Gross Gross Estimated Fair Value U.S. obligations – Treasury notes $ 4,012 $ — $ 12 $ — $ 4,024 MBS: GSEs – multifamily 7,562 — 2 (57) 7,507 PLRMBS 1,183 (30) 54 (25) 1,182 Total MBS 8,745 (30) 56 (82) 8,689 Total $ 12,757 $ (30) $ 68 $ (82) $ 12,713 (1) Amortized cost includes unpaid principal balance, unamortized premiums and discounts, net charge-offs, and valuation adjustments for hedging activities, and excludes accrued interest receivable At March 31, 2023, the amortized cost of the Bank’s MBS classified as AFS included premiums of $50 million, discounts of $140 million, and previous credit losses related to the prior methodology of evaluating credit losses of $341 million for PLRMBS. At December 31, 2022, the amortized cost of the Bank’s MBS classified as AFS included premiums of $52 million, discounts of $113 million, and previous credit losses related to the prior methodology of evaluating credit losses of $351 million for PLRMBS. The following tables summarize the AFS securities with unrealized losses as of March 31, 2023, and December 31, 2022. The unrealized losses are aggregated by major security type and the length of time that individual securities have been in a continuous unrealized loss position. March 31, 2023 Less Than 12 Months 12 Months or More Total (In millions) Estimated Gross Unrealized Estimated Gross Unrealized Estimated Gross Unrealized MBS – GSEs – multifamily $ 6,917 $ 64 $ 941 $ 17 $ 7,858 $ 81 PLRMBS 183 7 187 19 370 26 Total $ 7,100 $ 71 $ 1,128 $ 36 $ 8,228 $ 107 December 31, 2022 Less Than 12 Months 12 Months or More Total (In millions) Estimated Gross Estimated Gross Unrealized Estimated Gross Unrealized MBS – GSEs – multifamily $ 6,635 $ 57 $ — $ — $ 6,635 $ 57 PLRMBS 292 17 68 8 360 25 Total $ 6,927 $ 74 $ 68 $ 8 $ 6,995 $ 82 Redemption Terms – The amortized cost and estimated fair value of U.S. Treasury securities classified as AFS by contractual maturity (based on contractual final principal payment) and of MBS classified as AFS as of March 31, 2023, and December 31, 2022, are shown below. Expected maturities of MBS classified as AFS will differ from contractual maturities because borrowers may have the right to call or prepay the underlying obligations with or without call or prepayment fees. March 31, 2023 (In millions) Year of Contractual Maturity Amortized Estimated U.S. obligations – Treasury notes – Due after 1 year through 5 years $ 4,062 $ 4,078 MBS 9,332 9,242 Total $ 13,394 $ 13,320 December 31, 2022 (In millions) Year of Contractual Maturity Amortized Estimated U.S. obligations – Treasury notes – Due after 1 year through 5 years $ 4,012 $ 4,024 MBS 8,745 8,689 Total $ 12,757 $ 12,713 Held-to-Maturity Securities. The Bank classifies the following securities as HTM because the Bank has the positive intent and ability to hold these securities to maturity: March 31, 2023 (In millions) Amortized Cost (1) Gross Unrecognized Holding Gains (2) Gross Unrecognized Holding Losses (2) Estimated MBS – Other U.S. obligations – single-family $ 67 $ — $ (2) $ 65 MBS – GSEs: MBS – GSEs – single-family 709 1 (18) 692 MBS – GSEs – multifamily 1,181 — (6) 1,175 Subtotal MBS – GSEs 1,890 1 (24) 1,867 PLRMBS 147 — (11) 136 Total $ 2,104 $ 1 $ (37) $ 2,068 December 31, 2022 (In millions) Amortized Cost (1) Gross Unrecognized Holding Gains (2) Gross Unrecognized Holding Losses (2) Estimated MBS – Other U.S. obligations – single-family $ 72 $ — $ (2) $ 70 MBS – GSEs: MBS – GSEs – single-family 745 1 (22) 724 MBS – GSEs – multifamily 1,209 — (10) 1,199 Subtotal MBS – GSEs 1,954 1 (32) 1,923 PLRMBS 155 — (12) 143 Total $ 2,181 $ 1 $ (46) $ 2,136 (1) Amortized cost includes unpaid principal balance, unamortized premiums and discounts, and net charge-offs, and excludes accrued interest receivable of $6 million and $5 million at March 31, 2023, and December 31, 2022, respectively. (2) Gross unrecognized holding gains/(losses) represent the difference between estimated fair value and net carrying value. Expected maturities of MBS classified as HTM will differ from contractual maturities because borrowers may have the right to call or prepay the underlying obligations with or without call or prepayment fees. At March 31, 2023, the amortized cost of the Bank’s MBS classified as HTM included premiums of $3 million, discounts of $3 million, and no previous credit losses related to the prior methodology of evaluating credit losses for PLRMBS. At December 31, 2022, the amortized cost of the Bank’s MBS classified as HTM included premiums of $3 million, discounts of $4 million, and no previous credit losses related to the prior methodology of evaluating credit losses for PLRMBS. Allowance for Credit Losses on AFS and HTM Securities. The following table presents a rollforward of the allowance for credit losses on investment securities associated with PLRMBS classified as AFS for the three months ended March 31, 2023 and 2022. The Bank recorded no allowance for credit losses associated with HTM securities during the three months ended March 31, 2023 and 2022. Three Months Ended (In millions) March 31, 2023 March 31, 2022 Balance, beginning of the period $ 30 $ 17 (Charge-offs)/recoveries (1) — Provision for/(reversal of) credit losses (1) (3) Balance, end of the period $ 28 $ 14 To evaluate investment securities for credit loss at March 31, 2023, and December 31, 2022, the Bank employed the following methodologies, based on the type of security. AFS and HTM Securities (Excluding PLRMBS) – The Bank’s AFS and HTM securities are principally U.S. obligations and MBS issued by Ginnie Mae, Freddie Mac, and Fannie Mae that are backed by single-family or multifamily mortgage loans. The Bank only purchases securities considered investment quality. Excluding PLRMBS investments, at March 31, 2023, and December 31, 2022, substantially all of AFS securities and HTM securities, based on amortized cost, were rated A, or above, by an NRSRO, based on the lowest long-term credit rating for each security. These may differ from any internal ratings of the securities by the Bank, if applicable. At March 31, 2023, and December 31, 2022, certain of the Bank’s AFS securities were in an unrealized loss position. These losses are considered temporary as the Bank expects to recover the entire amortized cost basis on these AFS investment securities and neither intends to sell these securities nor considers it more likely than not that it will be required to sell these securities before its anticipated recovery of each security's remaining amortized cost basis. Further, the Bank has not experienced any payment defaults on the instruments and substantially all of these securities are highly rated. In the case of U.S. obligations, they carry an explicit government guarantee. As a result, no allowance for credit losses was recorded on these AFS securities at March 31, 2023, and December 31, 2022. As of March 31, 2023, and December 31, 2022, the Bank had not established an allowance for credit losses on any of its HTM securities because the securities: (i) were all highly rated or had short remaining terms to maturity and (ii) had not experienced, nor did the Bank expect, any payment default on the instruments, and (iii) in the case of U.S. Treasury, GSE, or other agency obligations, carry an implicit or explicit government guarantee such that the FHLBanks consider the risk of nonpayment to be zero. Private-Label Residential Mortgage-Backed Securities – The Bank also holds investments in PLRMBS. The Bank has not purchased any PLRMBS since the first quarter of 2008. However, many of these securities have subsequently experienced significant credit deterioration. As of March 31, 2023, and December 31, 2022, approximately 4% PLRMBS (AFS and HTM combined, based on amortized cost) were rated A, or above, by an NRSRO; and the remaining securities were either rated less than A, or were unrated. To determine whether an allowance for credit loss is necessary on these securities, the Bank uses cash flow analyses. For certain PLRMBS where underlying collateral data is not available, alternative procedures as determined by the Bank are used to assess these securities for credit loss measurement. At each quarter end, the Bank compares the present value of the cash flows expected to be collected on its PLRMBS, using the effective interest rate, to the amortized cost basis of the securities to determine whether a credit loss exists. The expected credit losses are measured using: • expected housing price changes; • expected interest rate assumptions; • the remaining payment terms for the security; • expected default rates based on underlying loan-level borrower and loan characteristics; • loss severities on the collateral supporting each unique PLRMBS based on underlying loan-level borrower and loan characteristics; and • prepayment speeds based on underlying loan-level borrower and loan characteristics. The projected cash flows are based on a number of assumptions and expectations, and the results of these models can vary significantly with changes in these assumptions and expectations. The cash flows determined reflect management’s expectations and include a base case housing price forecast for near- and long-term horizons. For all the PLRMBS in its AFS and HTM portfolios, the Bank does not intend to sell any security and it is not more likely than not that the Bank will be required to sell any security before its anticipated recovery of the remaining amortized cost basis. For PLRMBS with previous credit losses related to the prior methodology of evaluating credit losses (securities for which the Bank determined that it does not expect to recover the entire amortized cost basis), measurement of the fair value of PLRMBS classified as Level 3 as of March 31, 2023, uses significant inputs that include, based on unpaid principal balance, the weighted average percentage of prepayment rates of 10.1%; default rates of 5.8%; and loss severities of 56.9%. The weighted average percentage of the related current credit enhancement for these securities, based on unpaid principal balance, was 8.7% as of March 31, 2023. Credit enhancement is defined as the percentage of subordinated tranches, excess spread, and over-collateralization, if any, in a security structure that will generally absorb losses before the Bank will experience a loss on the security. The total net accretion recognized in interest income associated with PLRMBS with previous credit losses related to the prior methodology of evaluating credit losses totaled $11 million and $14 million for the three months ended March 31, 2023 and 2022, respectively. Accretion of yield adjustments resulting from improvement of expected cash flows that are recognized over the remaining life of the securities totaled $7 million and $8 million for the three months ended March 31, 2023 and 2022, respectively. In general, the Bank elects to transfer any PLRMBS that incurred a credit loss during the applicable period from the Bank’s HTM portfolio to its AFS portfolio at their fair values. The Bank previously recognized a credit loss on these HTM PLRMBS, which the Bank believes is evidence of a significant decline in the credit quality of the underlying collateral. The decline in the credit quality of the underlying collateral is the basis for the transfers to the AFS portfolio. These transfers allow the Bank the option to sell these securities before maturity in view of changes in interest rates, changes in prepayment risk, or other factors, while recognizing the Bank’s intent to hold these securities for an indefinite period of time. The Bank did not transfer any PLRMBS from its HTM portfolio to its AFS portfolio during the three months ended March 31, 2023. The Bank transferred PLRMBS from its HTM

Advances

Advances	3 Months Ended
	Mar. 31, 2023
Federal Home Loan Banks [Abstract]
Advances	Note 4 — Advances The Bank offers a wide range of fixed and adjustable rate advance products with different maturities, interest rates, payment characteristics, and option features. Fixed rate advances generally have maturities ranging from one day to 30 years. Adjustable rate advances generally have maturities ranging from less than 30 days to 10 years, with the interest rates resetting periodically at a fixed spread to a specified index. Redemption Terms. The Bank had advances outstanding at interest rates ranging from 0.21% to 8.57% at March 31, 2023, and 0.21% to 8.57% at December 31, 2022, as summarized below. (Dollars in millions) March 31, 2023 December 31, 2022 Redemption Term Amount Outstanding (1) Weighted Amount Outstanding (1) Weighted Overdrawn demand and overnight deposit accounts $ — 4.65 % $ 2 4.15 % Within 1 year (2) 64,758 4.87 71,050 4.34 After 1 year through 2 years 22,750 3.99 7,634 3.30 After 2 years through 3 years 5,433 3.60 4,036 2.22 After 3 years through 4 years 4,284 2.62 3,391 2.05 After 4 years through 5 years 3,702 3.73 2,815 3.24 After 5 years 1,092 3.58 1,189 3.50 Total par value 102,019 4.45 % 90,117 4.03 % Valuation adjustments for hedging activities (453) (670) Valuation adjustments under fair value option (25) (47) Total $ 101,541 $ 89,400 (1) Carrying amounts exclude accrued interest receivable of $103 million and $241 million at March 31, 2023, and December 31, 2022, respectively. (2) Advances outstanding with redemption terms within three months totaled $45.6 billion and $46.3 billion at March 31, 2023, and December 31, 2022, respectively. Many of the Bank’s advances are prepayable at the borrower’s option. However, when advances are prepaid, the borrower is generally charged a prepayment fee intended to make the Bank financially indifferent to the borrower’s decision to repay the advance prior to its maturity date, which is required by Finance Agency regulations. In addition, for certain advances with full or partial prepayment symmetry, the Bank may charge the borrower a prepayment fee or pay the borrower a prepayment credit depending on certain circumstances, such as movements in interest rates, when the advance is prepaid. In November 2018, the Bank discontinued offering advances with partial prepayment symmetry. The Bank had advances with full prepayment symmetry outstanding totaling $39.9 billion at March 31, 2023, and $19.2 billion at December 31, 2022. The Bank had advances with partial prepayment symmetry outstanding totaling $0.7 billion at March 31, 2023, and $1.0 billion at December 31, 2022. Some advances may be repaid on pertinent call dates without prepayment fees (callable advances). The Bank had callable advances outstanding totaling $9.2 billion at March 31, 2023, and $9.8 billion at December 31, 2022. The Bank had putable advances totaling $1.4 billion at March 31, 2023, and $0.8 billion at December 31, 2022. At the Bank’s discretion, the Bank may terminate these advances on predetermined exercise dates and offer replacement funding at prevailing market rates, subject to certain conditions. The Bank would typically exercise such termination rights when interest rates increase relative to contractual rates. The following table summarizes advances at March 31, 2023, and December 31, 2022, by the earlier of the year of redemption term or next call date for callable advances and by the earlier of the year of redemption term or next put date for putable advances. Earlier of Redemption Earlier of Redemption (In millions) March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Overdrawn demand and overnight deposit accounts $ — $ 2 $ — $ 2 Within 1 year 65,078 71,370 65,608 71,850 After 1 year through 2 years 22,760 7,634 23,250 7,634 After 2 years through 3 years 5,433 4,046 4,983 3,836 After 3 years through 4 years 4,284 3,391 4,284 3,391 After 4 years through 5 years 3,712 2,825 2,802 2,215 After 5 years 752 849 1,092 1,189 Total par value $ 102,019 $ 90,117 $ 102,019 $ 90,117 Concentration Risk. The following tables present the concentration in advances to the top 10 borrowers and their affiliates at March 31, 2023, and March 31, 2022. The tables also present the interest income from these advances before the impact of interest rate exchange agreements hedging these advances for the three months ended March 31, 2023 and 2022. March 31, 2023 (In millions) Name of Borrower Advances Percentage of Interest (1) Percentage of First Republic Bank (2) $ 28,100 28 % $ 176 18 % MUFG Union Bank, National Association (3) 11,050 11 36 4 Western Alliance Bank 11,000 11 27 3 City National Bank 8,850 9 115 12 Pacific Western Bank 5,450 5 25 3 First Technology Federal Credit Union (4) 4,458 4 38 4 Bank of the West (5) 2,600 3 66 7 Wells Fargo National Bank West 2,000 2 24 2 First Foundation Bank 2,000 2 12 1 Luther Burbank Savings Bank (4) 1,702 2 9 1 Subtotal 77,210 77 528 55 Others 24,809 23 443 45 Total par value $ 102,019 100 % $ 971 100 % March 31, 2022 (In millions) Name of Borrower Advances Percentage of Interest (1) Percentage of MUFG Union Bank, National Association (3) $ 4,050 20 % $ 13 18 % First Republic Bank (2) 3,700 18 9 13 First Technology Federal Credit Union (4) 1,800 9 8 12 Silvergate Bank 800 4 — — Wescom Central Credit Union 760 4 1 2 Luther Burbank Savings 752 4 3 4 Bank of Hope 700 3 1 2 Pacific Western Bank 629 3 — — Pacific Premier Bank 600 3 — — Banc of California, NA 561 3 3 4 Subtotal 14,352 71 38 55 Others 6,121 29 30 45 Total par value $ 20,473 100 % $ 68 100 % (1) Interest income amounts exclude the interest effect of interest rate exchange agreements with derivative counterparties; as a result, the total interest income amounts will not agree to the Statements of Income. The amount of interest income from advances can vary depending on the amount outstanding, terms to maturity, interest rates, and repricing characteristics. (2) On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) closed First Republic Bank, appointed the FDIC as receiver, and the FDIC and JPMorgan Chase, National Association, a nonmember, reported that they are entering into a purchase and assumption agreement for substantially all of the assets of First Republic Bank, including $28.1 billion in advances outstanding from the Bank. These advances outstanding are fully collateralized and are not expected to result in any credit loss to the Bank. (3) On December 1, 2022, U.S. Bancorp, a nonmember, announced that it completed its acquisition of MUFG Union Bank, National Association. (4) An officer or director of the member is a Bank director. (5) On February 1, 2023, BMO Harris, a nonmember, announced that it completed its acquisition of Bank of the West. On March 10, 2023, Silicon Valley Bank was closed by the California Department of Financial Protection and Innovation (DFPI) and the Federal Deposit Insurance Corporation (FDIC) was named as receiver. On March 14, 2023, the FDIC transferred all of the deposits and substantially all of the assets of Silicon Valley Bank to Silicon Valley Bridge Bank, National Association. The advances to Silicon Valley Bank were not transferred to Silicon Valley Bridge Bank, and were repaid by Silicon Valley Bank. On March 26, 2023, the FDIC entered into a purchase and assumption agreement for all the deposits and loans of Silicon Valley Bridge Bank, N.A. with First-Citizens Bank and Trust Company, a nonmember. At March 31, 2023, Silicon Valley Bank had no advances outstanding from the Bank, compared to $15.0 billion in advances outstanding to Silicon Valley Bank at yearend 2022. Credit Risk Exposure and Security Terms. The Bank manages its credit exposure related to advances through an integrated approach that generally provides for a credit limit to be established for each borrower, includes an ongoing review of each borrower’s financial condition, and is coupled with conservative collateral and lending policies to limit the risk of loss while taking into account borrowers’ needs for a reliable funding source. In addition, the Bank lends to member financial institutions that have their principal place of business in Arizona, California, or Nevada, in accordance with federal law and Finance Agency regulations. Specifically, the Bank is required to obtain sufficient collateral to fully secure credit products up to the member’s total credit limit. Borrowers may pledge the following eligible assets to secure advances: • one-to-four-family first lien residential mortgage loans; • securities issued, insured, or guaranteed by the U.S. government or any of its agencies, including without limitation MBS backed by Fannie Mae, Freddie Mac, or Ginnie Mae; • cash or deposits in the Bank; • certain other real estate-related collateral, such as certain privately issued MBS, multifamily loans, commercial real estate loans, and second lien residential mortgage loans or home equity loans; and • small business, small farm, and small agribusiness loans that are fully secured by collateral (such as real estate, equipment and vehicles, accounts receivable, and inventory) from members that are community financial institutions. The Bank has advances outstanding to former members and member successors, which are subject to the security terms above. The Bank requires each borrowing member to execute a written Advances and Security Agreement, which describes the lending relationship between the Bank and the borrower. At March 31, 2023, and December 31, 2022, the Bank had a perfected security interest in collateral pledged by each borrowing member, or by the member's affiliate on behalf of the member, and by each nonmember borrower, with an estimated value in excess of the outstanding credit products for that borrower. Based on the financial condition of the borrower, the Bank may either (i) allow the borrower or the pledging affiliate to retain physical possession of loan collateral pledged to the Bank, provided that the borrower or the pledging affiliate agrees to hold the collateral for the benefit of the Bank, or (ii) require the borrower or the pledging affiliate to deliver physical possession of loan collateral to the Bank or its custodial agent. All securities collateral is required to be delivered to the Bank’s custodial agent. All loan collateral pledged to the Bank is subject to a Uniform Commercial Code-1 financing statement. Section 10(e) of the FHLBank Act affords any security interest granted to the Bank by a member or any affiliate of the member or any nonmember borrower priority over claims or rights of any other party, except claims or rights that (i) would be entitled to priority under otherwise applicable law and (ii) are held by bona fide purchasers for value or secured parties with perfected security interests. At March 31, 2023, and December 31, 2022, none of the Bank’s credit products were past due or on nonaccrual status. There were no modifications to credit products related to borrowers experiencing financial difficulty during the three months ended March 31, 2023. Based on the collateral pledged as security for advances, the Bank’s credit analyses of borrowers’ financial condition, repayment history on advances, and the Bank’s credit extension and collateral policies as of March 31, 2023, the Bank expects to collect all amounts due according to the contractual terms. Therefore, no allowance for credit losses on advances was deemed necessary by the Bank as of March 31, 2023, and December 31, 2022. Interest Rate Payment Terms. Interest rate payment terms for advances at March 31, 2023, and December 31, 2022, are detailed below: (In millions) March 31, 2023 December 31, 2022 Par value of advances: Fixed rate: Due within 1 year $ 42,646 $ 47,621 Due after 1 year 37,246 18,050 Total fixed rate 79,892 65,671 Adjustable rate: Due within 1 year 22,112 23,431 Due after 1 year 15 1,015 Total adjustable rate 22,127 24,446 Total par value $ 102,019 $ 90,117 The Bank did not have any advances with embedded features that met the requirements to separate the embedded feature from the host contract and designate the embedded feature as a stand-alone derivative at March 31, 2023, or December 31, 2022. The Bank has generally elected to account for certain advances with embedded features under

Mortgage Loans Held for Portfol

Mortgage Loans Held for Portfolio	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Mortgage Loans Held for Portfolio	Note 5 — Mortgage Loans Held for Portfolio The following table presents information as of March 31, 2023, and December 31, 2022, on mortgage loans held for portfolio, all of which are secured by one- to four-unit residential properties and single-unit homes. (In millions) March 31, 2023 December 31, 2022 Fixed rate medium-term mortgage loans $ 13 $ 14 Fixed rate long-term mortgage loans 749 761 Subtotal 762 775 Unamortized premiums 42 43 Unamortized discounts (2) (2) Mortgage loans held for portfolio (1) 802 816 Less: Allowance for credit losses (1) (1) Total mortgage loans held for portfolio, net $ 801 $ 815 (1) Excludes accrued interest receivable of $5 million and $5 million at March 31, 2023, and December 31, 2022, respectively. Medium-term loans have original contractual terms of 15 years or less, and long-term loans have contractual terms of more than 15 years. Payment Status of Mortgage Loans. Payment status is the key credit quality indicator for conventional mortgage loans and allows the Bank to monitor the migration of past due loans. A past due loan is one where the borrower has failed to make a scheduled full payment of principal and interest within 30 days of its due date. Other delinquency statistics include nonaccrual loans and loans in process of foreclosure. The following tables present the payment status for mortgage loans and other delinquency statistics for the Bank’s mortgage loans at March 31, 2023, and December 31, 2022. March 31, 2023 (Dollars in millions) Origination Year Payment Status 2019 to 2023 Prior to 2019 Amortized Cost (1) 30 – 59 days delinquent $ 2 $ 6 $ 8 60 – 89 days delinquent 1 1 2 90 days or more delinquent 4 14 18 Total past due 7 21 28 Total current loans 358 416 774 Total mortgage loans held for portfolio $ 365 $ 437 $ 802 In process of foreclosure, included above (2) $ 2 Nonaccrual loans (3) $ 18 Serious delinquencies as a percentage of total mortgage loans outstanding (4) 2.22 % December 31, 2022 (Dollars in millions) Origination Year Payment Status 2018 to 2022 Prior to 2018 Amortized Cost (1) 30 – 59 days delinquent $ 4 $ 5 $ 9 60 – 89 days delinquent 2 1 3 90 days or more delinquent 11 8 19 Total past due 17 14 31 Total current loans 449 336 785 Total mortgage loans held for portfolio $ 466 $ 350 $ 816 In process of foreclosure, included above (2) $ 3 Nonaccrual loans (3) $ 19 Serious delinquencies as a percentage of total mortgage loans outstanding (4) 2.30 % (1) The amortized cost in a loan is the unpaid principal balance of the loan, adjusted for net deferred loan fees or costs, unamortized premiums or discounts, and direct write-downs. (2) Includes loans for which the servicer has reported a decision to foreclose or to pursue a similar alternative, such as deed-in-lieu. Loans in process of foreclosure are included in past due or current loans depending on their delinquency status. (3) At March 31, 2023, and December 31, 2022, $6 million and $7 million, respectively, of mortgage loans on nonaccrual status did not have an associated allowance for credit losses because these loans were either previously charged off to the expected recoverable value or the fair value of the underlying collateral, including any credit enhancements, is greater than the amortized cost of the loans. (4) Represents loans that are 90 days or more past due or in the process of foreclosure as a percentage of the recorded investment of total mortgage loans outstanding. Allowance for Credit Losses on Mortgage Loans Held for Portfolio. Mortgage loans held for portfolio are evaluated on a loan-level basis for expected credit losses, factoring in the credit enhancement structure at the master commitment level. The Bank determines its allowance for credit losses on mortgage loans held for portfolio through analyses that include consideration of various loan portfolio and collateral related characteristics, such as past performance, current conditions, and reasonable and supportable forecasts of expected economic conditions. The Bank uses models that employ a variety of methods, such as projected cash flows, to estimate expected credit losses over the life of the loans. These models rely on a number of inputs, such as current and forecasted property values and interest rates as well as historical borrower behavior experience. At March 31, 2023, the Bank’s reasonable and supportable forecast of housing prices expects, on average, for prices to depreciate 2.7% over a one-year forecast horizon before reverting to long-term housing price appreciation rates of 4.0% after five additional years in the forecast based on historical averages. At December 31, 2022, the Bank’s reasonable and supportable forecast of housing prices expects, on average, for prices to depreciate 0.7% over a one-year forecast horizon before reverting to long-term housing price appreciation rates of 4.0% after five additional years in the forecast based on historical averages. The Bank also incorporates associated credit enhancements, if any, to determine its estimate of expected credit losses. Certain mortgage loans held for portfolio may be evaluated for credit losses by the Bank using the practical expedient for collateral-dependent assets. A mortgage loan is considered collateral-dependent if repayment is expected to be provided by the sale of the underlying property, that is, if it is considered likely that the borrower will default. The Bank may estimate the fair value of this collateral by applying an appropriate loss severity rate or using third-party estimates or property valuation models. The expected credit loss of a collateral-dependent mortgage loan is equal to the difference between the amortized cost of the loan and the estimated fair value of the collateral, less estimated selling costs. The Bank will either reserve for these estimated losses or record a direct charge-off of the loan balance, if certain triggering criteria are met. Expected recoveries of prior charge-offs, if any, are included in the allowance for credit loss. At both March 31, 2023 and 2022, the allowance for credit losses on the mortgage loan portfolio was $1 million. The amount of charge-offs and recoveries of allowance for credit losses on the mortgage loan portfolio were de minimis for the three months ended March 31, 2023 and 2022, respectively.

Deposits

Deposits	3 Months Ended
	Mar. 31, 2023
Deposits [Abstract]
Deposits	Note 6 — Deposits The Bank maintains demand deposit accounts that are directly related to the extension of credit to members and offers short-term deposit programs to members and qualifying nonmembers. In addition, a member that services mortgage loans held for portfolio may deposit in the Bank funds collected in connection with the mortgage loans, pending disbursement of these funds to the owners of the mortgage loans. The Bank classifies these types of deposits as non-interest-bearing deposits. Deposits classified as demand, overnight, and other pay interest based on a daily interest rate. Term deposits pay interest based on a fixed rate determined at the issuance of the deposit. Deposits and interest rate payment terms for deposits as of March 31, 2023, and December 31, 2022, were as follows: March 31, 2023 December 31, 2022 (Dollars in millions) Amount Weighted Amount Weighted Interest-bearing deposits: Adjustable rate $ 1,014 4.65 % $ 983 4.15 % Fixed rate 2 4.40 — — Total interest-bearing deposits 1,016 983 Non-interest-bearing deposits 6 6 Total $ 1,022 $ 989

Consolidated Obligations

Consolidated Obligations	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Consolidated Obligations	Note 7 — Consolidated Obligations Consolidated obligations, consisting of bonds and discount notes, are jointly issued by the Federal Home Loan Banks (FHLBanks) through the Office of Finance, which serves as the FHLBanks’ agent. As provided by the Federal Home Loan Bank Act of 1932, as amended (FHLBank Act) or by regulations governing the operations of the FHLBanks, all FHLBanks have joint and several liability for all FHLBank consolidated obligations. For a discussion of the joint and several liability regulation, see “Item 8. Financial Statements and Supplementary Data – Note 16 – Commitments and Contingencies” in the Bank’s 2022 Form 10-K. In connection with each issuance of consolidated obligations, each FHLBank specifies the type, term, and amount of debt it requests to have issued on its behalf. The Office of Finance tracks the amount of debt issued on behalf of each FHLBank. In addition, the Bank separately tracks and records as a liability its specific portion of the consolidated obligations issued and is the primary obligor for that portion of the consolidated obligations issued. The Finance Agency and the U.S. Secretary of the Treasury have oversight over the issuance of FHLBank debt through the Office of Finance. Redemption Terms. The following is a summary of the Bank’s participation in consolidated obligation bonds at March 31, 2023, and December 31, 2022. (Dollars in millions) March 31, 2023 December 31, 2022 Contractual Maturity Amount Weighted Amount Weighted Within 1 year $ 62,616 4.62 % $ 58,301 4.05 % After 1 year through 2 years 23,046 4.12 8,268 2.30 After 2 years through 3 years 4,080 1.26 2,317 1.26 After 3 years through 4 years 3,888 1.11 5,473 0.99 After 4 years through 5 years 1,142 2.97 1,255 1.47 After 5 years 1,182 2.01 1,293 1.73 Total par value 95,954 4.16 % 76,907 3.47 % Unamortized premiums — 1 Unamortized discounts (10) (5) Valuation adjustments for hedging activities (869) (1,083) Fair value option valuation adjustments (41) (52) Total $ 95,034 $ 75,768 The Bank’s participation in consolidated obligation bonds outstanding includes callable bonds of $23.8 billion at March 31, 2023, and $19.7 billion at December 31, 2022. When a callable bond for which the Bank is the primary obligor is issued, the Bank may simultaneously enter into an interest rate swap (wherein the Bank pays a variable rate and receives a fixed rate) with a call feature that mirrors the call option embedded in the bond (a sold callable option in a swap). The Bank had notional amounts of interest rate exchange agreements hedging callable bonds of $22.2 billion at March 31, 2023, and $18.1 billion at December 31, 2022. The combined callable swaps and callable bonds enable the Bank to meet its funding needs at lower costs relative to similar tenor non-callable debt, while effectively converting the Bank’s net payment to an adjustable rate. The Bank’s participation in consolidated obligation bonds at March 31, 2023, and December 31, 2022, was as follows: (In millions) March 31, 2023 December 31, 2022 Par value of consolidated obligation bonds: Non-callable $ 72,169 $ 57,164 Callable 23,785 19,743 Total par value $ 95,954 $ 76,907 The following is a summary of the Bank’s participation in consolidated obligation bonds outstanding at March 31, 2023, and December 31, 2022, by the earlier of the year of contractual maturity or next call date. (In millions) Earlier of Contractual March 31, 2023 December 31, 2022 Within 1 year $ 78,409 $ 73,049 After 1 year through 2 years 17,154 3,310 After 2 years through 3 years 45 187 After 3 years through 4 years 298 313 After 4 years through 5 years 1 — After 5 years 47 48 Total par value $ 95,954 $ 76,907 Consolidated obligation discount notes are consolidated obligations issued to raise short-term funds. These notes are issued at less than their face value and redeemed at par value when they mature. The Bank’s participation in consolidated obligation discount notes, all of which are due within one year, was as follows: March 31, 2023 December 31, 2022 (Dollars in millions) Amount Weighted Average Interest Rate (1) Amount Weighted Average Interest Rate (1) Par value $ 37,668 4.70 % $ 36,159 4.13 % Unamortized discounts (312) (230) Total $ 37,356 $ 35,929 (1) Represents yield to maturity excluding concession fees. Interest Rate Payment Terms. Interest rate payment terms for consolidated obligations at March 31, 2023, and December 31, 2022, are detailed in the following table. For information on the general terms and types of consolidated obligations outstanding, see “Item 8. Financial Statements and Supplementary Data – Note 8 – Consolidated Obligations” in the Bank’s 2022 Form 10-K. (In millions) March 31, 2023 December 31, 2022 Par value of consolidated obligations: Bonds: Fixed rate $ 34,856 $ 25,632 Adjustable rate 60,275 48,997 Step-up 823 2,278 Total bonds, par value 95,954 76,907 Discount notes, par value 37,668 36,159 Total consolidated obligations, par value $ 133,622 $ 113,066 The Bank did not have any bonds with embedded features that met the requirements to separate the embedded feature from the host contract and designate the embedded feature as a stand-alone derivative at March 31, 2023, or December 31, 2022. The Bank has generally elected to account for certain bonds with embedded features under the fair value option, and these bonds are carried at fair value on the Statements of Condition. For more information, see Note 11 – Derivatives and Hedging Activities and Note 12 – Fair Value.

Capital

Capital	3 Months Ended
	Mar. 31, 2023
Banking Regulation, Total Capital [Abstract]
Capital	Note 9 — Capital Capital Requirements. The FHLBank Act and regulations governing the operations of the FHLBanks require that the Bank’s minimum capital stock requirement for shareholders must be sufficient to enable the Bank to meet its regulatory requirements for total capital, leverage capital, and risk-based capital. For further information related to the Bank’s capital requirements, see “Item 8. Financial Statements and Supplementary Data – Note 11 – Capital” in the Bank’s 2022 Form 10-K. As of March 31, 2023, and December 31, 2022, the Bank complied with these capital rules and requirements as shown in the following table. March 31, 2023 December 31, 2022 (Dollars in millions) Required Actual Required Actual Risk-based capital $ 1,095 $ 8,228 $ 898 $ 7,757 Total regulatory capital $ 5,700 $ 8,228 $ 4,842 $ 7,757 Total regulatory capital ratio 4.00 % 5.77 % 4.00 % 6.41 % Leverage capital $ 7,125 $ 12,342 $ 6,053 $ 11,636 Leverage ratio 5.00 % 8.66 % 5.00 % 9.61 % The Bank’s capital plan requires each member to own capital stock in an amount equal to the greater of its membership capital stock requirement or its activity-based capital stock requirement. The Bank may adjust these requirements from time to time within ranges established in the capital plan. Any changes to the capital plan must be approved by the Bank’s board of directors and the Finance Agency. For information on the Bank’s membership capital stock requirement and activity-based capital stock requirement, see “Item 8. Financial Statements and Supplementary Data – Note 11 – Capital – Capital Requirements” in the Bank’s 2022 Form 10-K. Mandatorily Redeemable Capital Stock. The Bank had mandatorily redeemable capital stock totaling $95 million outstanding to five institutions at March 31, 2023, and $5 million outstanding to three institutions at December 31, 2022. The change in mandatorily redeemable capital stock for the three months ended March 31, 2023 and 2022 was as follows: Three Months Ended (In millions) March 31, 2023 March 31, 2022 Balance at the beginning of the period $ 5 $ 3 Reclassified from/(to) capital during the period 195 32 Repurchase/redemption of mandatorily redeemable capital stock (105) (28) Balance at the end of the period $ 95 $ 7 Cash dividends on mandatorily redeemable capital stock were recorded as interest expense of de minimis amounts for the three months ended March 31, 2023 and 2022. The following table presents mandatorily redeemable capital stock amounts by contractual redemption period at March 31, 2023, and December 31, 2022. (In millions) Contractual Redemption Period March 31, 2023 December 31, 2022 After 3 years through 4 years $ 4 $ 1 After 4 years through 5 years 90 3 Past contractual redemption date because of remaining activity (1) 1 1 Total $ 95 $ 5 (1) Represents mandatorily redeemable capital stock that is past the end of the contractual redemption period because of outstanding activity. The Bank’s mandatorily redeemable capital stock is discussed more fully in “Item 8. Financial Statements and Supplementary Data – Note 11 – Capital” in the Bank’s 2022 Form 10-K. Excess Stock Repurchase, Retained Earnings, and Dividend Framework. The Bank’s Excess Stock Repurchase, Retained Earnings, and Dividend Framework (Framework) assesses the level and adequacy of retained earnings and establishes amounts to be retained in restricted retained earnings, which are not made available in the current dividend period, and maintains an amount of total retained earnings at least equal to its required retained earnings as described in the Framework. The methodology may be revised from time to time, and the required level of required retained earnings under the methodology may change due to updating data and assumptions used in the methodology. In January 2023, the required level of retained earnings was increased from $2.6 billion to $2.7 billion. The Bank’s retained earnings requirement may be changed at any time. The board of directors periodically reviews the retained earnings methodology and analysis to determine whether any adjustments are appropriate. The Bank satisfies its retained earnings requirement with both restricted retained earnings (i.e., amounts related to the Joint Capital Enhancement (JCE) Agreement) and unrestricted retained earnings. The JCE Agreement is intended to enhance the capital position of each FHLBank. In accordance with the JCE Agreement, each FHLBank is required to reclassify an amount equal to 20% of its net income each quarter to a separate restricted retained earnings account until the balance of the account, calculated as of the last day of each calendar quarter, equals at least 1% of that FHLBank's average balance of outstanding consolidated obligations for the calendar quarter. Under the JCE Agreement, these restricted retained earnings will not be available to pay dividends. The JCE Agreement also provides that amounts in restricted retained earnings in excess of 150% of the Bank’s restricted retained earnings minimum (i.e., 1% of the Bank’s total consolidated obligations calculated as of the last day of each calendar quarter) may be released from restricted retained earnings. As a result of the Bank exceeding this threshold, the Bank reclassified $16 million from restricted retained earnings to unrestricted retained earnings during the first quarter of 2022. The Bank made no reclassifications from restricted retained earnings to unrestricted retained earnings during the first quarter of 2023. The Bank’s restricted retained earnings totaled $770 million and $732 million at March 31, 2023, and December 31, 2022, respectively. The Bank’s unrestricted retained earnings totaled $3.4 billion and $3.3 billion at March 31, 2023, and December 31, 2022, respectively. For information on restricted retained earnings and the Bank’s Framework, see “Item 8. Financial Statements and Supplementary Data – Note 11 – Capital” in the Bank’s 2022 Form 10-K. Dividend Payments – Finance Agency rules state that FHLBanks may declare and pay dividends only from previously retained earnings or current net earnings and may not declare or pay dividends based on projected or anticipated earnings. For information on dividend payments, see “Item 8. Financial Statements and Supplementary Data – Note 11 – Capital” in the Bank’s 2022 Form 10-K. In addition, Finance Agency rules do not permit the Bank to pay dividends in the form of capital stock if its excess stock exceeds 1% of its total assets. Excess stock is defined as the aggregate of the capital stock held by each shareholder in excess of its minimum capital stock requirement, as established by the Bank’s capital plan. Excess stock totaled $136 million, or 0.10% of total assets as of March 31, 2023. Excess stock totaled $157 million, or 0.13% of total assets as of December 31, 2022. In the first quarter of 2023, the Bank paid dividends at an annualized rate of 7.00%, totaling $63 million, including $63 million in dividends on capital stock and a de minimis amount in dividends on mandatorily redeemable capital stock. In the first quarter of 2022, the Bank paid dividends at an annualized rate of 6.00%, totaling $35 million, including $35 million in dividends on capital stock and a de minimis amount in dividends on mandatorily redeemable capital stock. For the periods referenced above, the Bank paid dividends in cash. Dividends on capital stock are recognized as dividends on the Statements of Capital Accounts, and dividends on mandatorily redeemable capital stock are recognized as interest expense on the Statements of Income. On April 27, 2023, the Bank’s board of directors declared a quarterly cash dividend on the capital stock outstanding during the first quarter of 2023 at an annualized rate of 7.00%, totaling $67 million. The Bank recorded the dividend on April 27, 2023, and expects to pay the dividend on May 11, 2023. Excess Stock – The Bank’s capital plan provides that the Bank may repurchase some or all of a shareholder’s excess stock at the Bank’s discretion, subject to certain statutory and regulatory requirements. The Bank may also repurchase all of a member’s excess stock at a member’s request, at the Bank’s discretion, subject to certain statutory and regulatory requirements. For information on excess stock, see “Item 8. Financial Statements and Supplementary Data – Note 11 – Capital” in the Bank’s 2022 Form 10-K. The Bank repurchased $1.9 billion and $0.8 billion in excess stock during the first quarter of 2023 and 2022, respectively. The Bank is required to redeem any mandatorily redeemable capital stock that is in excess of a former member’s minimum stock requirement on or after the expiration of the five-year redemption date. During the first quarter of 2023 and 2022, the Bank redeemed a de minimis amount in mandatorily redeemable capital stock, for which the five-year redemption period had expired, at its $100 par value per share. The stock was redeemed on the scheduled redemption dates or, for stock that was not excess stock on its scheduled redemption date because of outstanding activity with the Bank, on the first available repurchase date after the stock was no longer required to support outstanding activity with the Bank. Concentration. The following table presents the concentration in capital stock held by institutions whose capital stock ownership represented 10% or more of the Bank’s outstanding capital stock, including mandatorily redeemable capital stock, as of March 31, 2023, or December 31, 2022: March 31, 2023 December 31, 2022 (Dollars in millions) Capital Stock Outstanding Percentage of Total Capital Stock Outstanding Capital Stock Outstanding Percentage of Total Capital Stock Outstanding First Republic Bank (1) $ 759 19 % $ 379 10 % Silicon Valley Bank (2) — — 418 11 Subtotal 759 19 797 21 Others 3,343 81 2,966 79 Total $ 4,102 100 % $ 3,763 100 % (1) On May 1, 2023, the California DFPI closed First Republic Bank, appointed the FDIC as receiver, and the FDIC and JPMorgan Chase, National Association, a nonmember, reported that they are entering into a purchase and assumption agreement for substantially all of the assets of First Republic Bank, including the advances outstanding from the Bank. Upon assumption of the advances outstanding by JPMorgan Chase, National Association, the Bank will transfer $759 million of capital stock of the Bank, held by First Republic Bank, to JPMorgan Chase, National Association, and reclassify that capital stock to mandatorily redeemable as a liability in the Bank’s Statements of Condition. (2) On March 10, 2023, the FDIC was appointed as receiver for Silicon Valley Bank. On March 14, 2023, the FDIC transferred all of the deposits and substantially all of the assets of Silicon Valley Bank to Silicon Valley Bridge Bank, National Association. The advances and capital stock held by Silicon Valley Bank were not transferred to Silicon Valley Bridge Bank and were repaid and redeemed, respectively. On March 26, 2023, the FDIC entered into a purchase and assumption agreement for all the deposits and loans of Silicon Valley Bridge Bank, N.A. with First-Citizens Bank and Trust Company, a nonmember.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Segment Information	Note 10 — Segment Information The Bank uses an analysis of financial results based on the financial components and adjusted net interest income of two operating segments, the advances-related business and the mortgage-related business, as well as other financial information, to review and assess financial performance and determine financial management strategies related to the operations of these two business segments. For purposes of segment reporting, adjusted net interest income includes income and expense associated with net settlements from economic hedges that are recorded in “Net gain/(loss) on derivatives” in other income/(loss), excludes interest income and expense associated with changes in fair value from fair value hedges that are recorded in the same line as the earnings effect of the hedged item, and excludes interest expense that is recorded in “Mandatorily redeemable capital stock.” AHP assessments are not included in the segment reporting analysis but are incorporated into the Bank’s overall assessment of financial performance. For more information on these operating segments, see “Item 8. Financial Statements and Supplementary Data – Note 10 – Segment Information” in the Bank’s 2022 Form 10-K. The following table presents the Bank’s adjusted net interest income by operating segment and reconciles total adjusted net interest income to income before the AHP assessment for the three months ended March 31, 2023 and 2022. (In millions) Advances- Mortgage- Related Business (1) Adjusted Amortization of Basis Adjustments and (Gain)/Loss on Fair Value Hedges (2) Income/(Expense) on Economic Hedges (3) Interest Expense on Mandatorily Redeemable Capital Stock (4) Net Other Other Income/(Loss) Three Months Ended: March 31, 2023 $ 240 $ 53 $ 293 $ 10 $ (5) $ — $ 288 $ (26) $ 45 $ 217 March 31, 2022 31 68 99 (7) — — 106 18 38 86 (1) The mortgage-related business includes total accretion or amortization associated with other-than-temporarily impaired PLRMBS, which are recognized in interest income, totaling $11 million and $14 million for the three months ended March 31, 2023 and 2022, respectively. The mortgage-related business includes a provision for/(reversal of) credit losses that totaled $(1) million and $(3) million for the three months ended March 31, 2023 and 2022, respectively. (2) Represents amortization of amounts deferred for adjusted net interest income purposes only and changes in fair value of the derivative hedging instrument and the hedged item attributable to the hedged risk for designated fair value hedges recorded in net interest income. (3) The Bank includes income and expense associated with net settlements from economic hedges in adjusted net interest income in its analysis of financial performance for its two operating segments. For financial reporting purposes, the Bank does not include these amounts in net interest income in the Statements of Income, but instead records them in other income/(loss) in “Net gain/(loss) on derivatives.” (4) The Bank excludes interest expense on mandatorily redeemable capital stock from adjusted net interest income in its analysis of financial performance for its two operating segments. The following table presents total assets by operating segment at March 31, 2023, and December 31, 2022. (In millions) Advances- Mortgage- Total March 31, 2023 $ 130,303 $ 12,190 $ 142,493 December 31, 2022 109,330 11,726 121,056

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Note 11 — Derivatives and Hedging Activities General . The Bank may enter into interest rate swaps (including callable, putable, and basis swaps) and cap and floor agreements (collectively, interest rate exchange agreements or derivatives). Most of the Bank’s interest rate exchange agreements are executed in conjunction with the origination of advances or the issuance of consolidated obligations to create variable rate structures. The interest rate exchange agreements are generally executed at the same time the advances and consolidated obligations are transacted and generally have the same maturity dates as the related hedged instrument. The Bank transacts most of its derivatives with large banks and major broker-dealers. For more information related to the Bank’s accounting policies for derivatives, see “Item 8. Financial Statements and Supplementary Data – Note 14 – Derivatives and Hedging Activities” in the Bank’s 2022 Form 10-K. For more information related to the Bank’s accounting policies for derivatives, see “Item 8. Financial Statements and Supplementary Data – Note 1 – Summary of Significant Accounting Policies” in the Bank’s 2022 Form 10-K. The following table summarizes the notional amount and fair value of derivative instruments, including the effect of netting adjustments and cash collateral as of March 31, 2023, and December 31, 2022. For purposes of this disclosure, the derivative values include the fair value of derivatives and related accrued interest. March 31, 2023 December 31, 2022 (In millions) Notional Derivative Derivative Notional Derivative Derivative Derivatives designated as hedging instruments: Interest rate swaps $ 88,096 $ 696 $ 916 $ 69,204 $ 799 $ 1,062 Derivatives not designated as hedging instruments: Interest rate swaps 101,535 38 107 47,589 50 133 Total derivatives before netting and collateral adjustments $ 189,631 734 1,023 $ 116,793 849 1,195 Netting adjustments and cash collateral (1) (728) (1,012) (823) (1,193) Total derivative assets and total derivative liabilities $ 6 $ 11 $ 26 $ 2 (1) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral, including accrued interest, held or placed with the same clearing agents or counterparty. Cash collateral posted, including accrued interest, was $585 million and $694 million at March 31, 2023, and December 31, 2022, respectively. Cash collateral received, including accrued interest, was $300 million and $324 million at March 31, 2023, and December 31, 2022, respectively. The following tables present, by type of hedged item, the gains and losses on fair value hedging relationships and the impact of those derivatives on the Bank’s Statements of Income for the three months ended March 31, 2023 and 2022. Three Months Ended March 31, 2023 Interest Income/(Expense) (In millions) Advances AFS Securities Consolidated Obligation Bonds Total interest income/(expense) presented in the Statements of Income $ 1,163 $ 190 $ (920) Gain/(loss) on fair value hedging relationships Derivatives (1) $ (301) $ (149) $ 84 Hedged items 189 232 (214) Net gain/(loss) on fair value hedging relationships (112) 83 (130) Net amortization of basis adjustments on discontinued hedging relationships (8) (25) — Net gain/(loss) on derivatives and hedging activities recorded in net interest income $ (120) $ 58 $ (130) Three Months Ended March 31, 2022 Interest Income/(Expense) (In millions) Advances AFS Securities Consolidated Obligation Bonds Total interest income/(expense) presented in the Statements of Income $ 39 $ 54 $ (12) Gain/(loss) on fair value hedging relationships Derivatives (1) $ 320 $ 429 $ (436) Hedged items (340) (439) 460 Net gain/(loss) on fair value hedging relationships (20) (10) 24 Net amortization of basis adjustments on discontinued hedging relationships (7) (27) — Net gain/(loss) on derivatives and hedging activities recorded in net interest income $ (27) $ (37) $ 24 (1) Includes net interest settlements. The following table presents the cumulative basis adjustments on hedged items designated as fair value hedges and the related amortized cost of the hedged items as of March 31, 2023, and December 31, 2022. March 31, 2023 December 31, 2022 (In millions) Advances AFS Securities Consolidated Obligation Bonds Advances AFS Securities Consolidated Obligation Bonds Amortized cost of hedged asset/(liability) (1) $ 44,708 $ 12,234 $ (30,791) $ 34,535 $ 11,574 $ (21,976) Fair value hedging basis adjustments: Active hedging relationships included in amortized cost $ (526) $ (1,164) $ 869 $ (740) $ (1,410) $ 1,083 Discontinued hedging relationships included in amortized cost 73 705 — 70 740 — Total amount of fair value hedging basis adjustments $ (453) $ (459) $ 869 $ (670) $ (670) $ 1,083 (1) Includes only the portion of amortized cost representing the hedged items in fair value hedging relationships. The following table presents the components of net gain/(loss) on derivatives as presented in the Statements of Income for the three months ended March 31, 2023 and 2022. Three Months Ended (In millions) March 31, 2023 March 31, 2022 Derivatives not designated as hedging instruments Gain/(Loss) Gain/(Loss) Economic hedges: Interest rate swaps $ (28) $ 8 Net interest settlements (5) — Total net gain/(loss) related to derivatives not designated as hedging instruments (33) 8 Price alignment amount (1) (1) — Net gain/(loss) on derivatives $ (34) $ 8 (1)This amount relates to derivatives for which variation margin on cleared derivatives is characterized as a daily settled contract. Credit Risk. The Bank is subject to credit risk from potential nonperformance by counterparties to the interest rate exchange agreements. All of the Bank’s agreements governing uncleared derivative transactions contain master netting provisions to help mitigate the credit risk exposure to each counterparty. The Bank manages counterparty credit risk through credit analyses and collateral requirements and by following the requirements of the Bank’s risk management policies, credit guidelines, and Finance Agency and other regulations. The Bank also requires credit support agreements on all uncleared derivatives. For cleared derivatives, the clearing house is the Bank’s counterparty. The requirement that the Bank post initial and variation margin through a clearing agent to the clearing house exposes the Bank to institutional credit risk if the clearing agent fails to meet its obligations. The use of a clearing house, or central counterparty, lowers overall credit risk exposure because it employs standard valuation and initial and variation margin processes and is specifically designed to withstand remote but plausible counterparty default credit events. Variation margin is posted or collected for changes in the value of the portfolio, and initial margin is posted for changes in risk profile of the portfolio. The Bank analyzed the enforceability of offsetting rights applicable to its cleared derivative transactions and determined that the exercise of those offsetting rights by a non-defaulting party under these transactions should be upheld under applicable bankruptcy law and Commodity Futures Trading Commission rules in the event of a clearing house or clearing agent insolvency and under applicable clearing house rules upon a non-insolvency-based event of default of the clearing house or clearing agent. Based on this analysis, the Bank presents a net derivative receivable or payable for all of its transactions through a particular clearing agent with a particular clearing house. Based on the Bank’s credit analyses and the collateral requirements, the Bank does not expect to incur any credit losses on its derivative transactions. The Bank’s agreements for uncleared derivative transactions contain provisions that link the Bank’s credit rating from Moody’s Investors Service and S&P Global Ratings to various rights and obligations. Certain of these derivative agreements provide that, if the Bank’s long-term debt rating falls below a specified rating (ranging from A3/A- to Baa3/BBB-), the Bank’s counterparty would have the right, but not the obligation, to terminate all of its outstanding derivative transactions with the Bank; the Bank’s agreements with its clearing agents for cleared derivative transactions have similar provisions with respect to the debt rating of FHLBank System consolidated bonds. If this occurs, the Bank may choose to enter into replacement hedges, either by transferring the existing transactions to another counterparty or entering into new replacement transactions, based on prevailing market rates. The aggregate fair value of all uncleared derivative instruments with credit risk-related contingent features that were in a net derivative liability position (before cash collateral and related accrued interest) at March 31, 2023, was $555 million, for which the Bank posted cash collateral of $556 million in the ordinary course of business. Additional information related to uncleared margin rules for uncleared derivative transactions are included in “Item 8. Financial Statements and Supplementary Data - Note 14 - Derivatives and Hedging Activities” in the Bank’s 2022 Form 10-K. The Bank may present derivative instruments, related cash collateral received or pledged, and associated accrued interest by clearing agent or by counterparty when the netting requirements have been met. The following tables present separately the fair value of derivative assets and derivative liabilities that have met the netting requirements, including the related collateral received from or pledged to counterparties as of March 31, 2023, and December 31, 2022. March 31, 2023 Derivative Instruments Meeting Netting Requirements (In millions) Amount Recognized Gross Amount of Netting Adjustments and Cash Collateral Total Derivative Assets and Total Derivative Liabilities Noncash Collateral Not Offset That Net Amount (1) Derivative Assets Uncleared $ 727 $ (723) $ 4 $ — $ 4 Cleared 7 (5) 2 (864) 866 Total $ 6 $ 870 Derivative Liabilities Uncleared $ 986 $ (980) $ 6 $ — $ 6 Cleared 37 (32) 5 — 5 Total $ 11 $ 11 December 31, 2022 Derivative Instruments Meeting Netting Requirements (In millions) Amount Recognized Gross Amount of Netting Adjustments and Cash Collateral Total Derivative Assets and Total Derivative Liabilities Noncash Collateral Not Offset That Net Amount (1) Derivative Assets Uncleared $ 834 $ (829) $ 5 $ — $ 5 Cleared 15 6 21 (435) 456 Total $ 26 $ 461 Derivative Liabilities Uncleared $ 1,188 $ (1,186) $ 2 $ — $ 2 Cleared 7 (7) — — — Total $ 2 $ 2 (1) Any over-collateralization at the Bank’s individual clearing agent and/or counterparty level is not included in the determination of the net amount. At March 31, 2023, the Bank had additional net credit exposure of $6 million due to instances where non-cash collateral to a counterparty exceeded the Bank’s net derivative position. There was no such additional net credit exposure at December 31, 2022.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value	Note 12 — Fair Value The following fair value amounts have been determined by the Bank using available market information and the Bank’s best judgment of appropriate valuation methods. These estimates are based on pertinent information available to the Bank at March 31, 2023, and December 31, 2022. Although the Bank uses its best judgment in estimating the fair value of these financial instruments, there are inherent limitations in any estimation technique or valuation methodology. For example, because an active secondary market does not exist for a portion of the Bank’s financial instruments, in certain cases fair values cannot be precisely quantified or verified and may change as economic and market factors and evaluation of those factors change. The Bank continues to refine its valuation methodologies as markets and products develop and the pricing for certain products becomes more or less transparent. While the Bank believes that its valuation methodologies are appropriate and consistent with those of other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a materially different estimate of fair value as of the reporting date. U.S. GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., an exit price). Therefore, the fair values are not necessarily indicative of the amounts that would be realized in current market transactions, although they do reflect the Bank’s judgment as to how a market participant would estimate the fair values. The fair value summary table does not represent an estimate of the overall market value of the Bank as a going concern, which would take into account future business opportunities and the net profitability of total assets and liabilities. The following tables present the net carrying value or carrying value, as applicable, the estimated fair value, and the fair value hierarchy level of the Bank’s financial instruments at March 31, 2023, and December 31, 2022. The Bank records trading securities, AFS securities, derivative assets, derivative liabilities, certain advances, certain consolidated obligations, and certain other assets at fair value on a recurring basis, and on occasion certain mortgage loans held for portfolio and certain other assets at fair value on a nonrecurring basis. The Bank records all other financial assets and liabilities at amortized cost. Refer to the following tables for further details about the financial assets and liabilities held at fair value on either a recurring or non-recurring basis. March 31, 2023 (In millions) Carrying Value (1) Estimated Fair Value Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (2) Assets Cash and due from banks $ 17 $ 17 $ 17 $ — $ — $ — Interest-bearing deposits 3,760 3,760 3,760 — — — Securities purchased under agreements to resell 11,100 11,100 — 11,100 — — Federal funds sold 9,427 9,427 — 9,427 — — Trading securities 1 1 — 1 — — AFS securities 13,320 13,320 — 12,170 1,150 — HTM securities 2,104 2,068 — 1,932 136 — Advances 101,541 101,354 — 101,354 — — Mortgage loans held for portfolio 801 689 — 689 — — Accrued interest receivable 178 178 — 178 — — Derivative assets, net (2) 6 6 — 734 — (728) Other assets (3) 16 16 16 — — — Liabilities Deposits 1,022 1,022 — 1,022 — — Consolidated obligations: Bonds 95,034 94,704 — 94,704 — — Discount notes 37,356 37,355 — 37,355 — — Total consolidated obligations 132,390 132,059 — 132,059 — — Mandatorily redeemable capital stock 95 95 95 — — — Accrued interest payable 508 508 — 508 — — Derivative liabilities, net (2) 11 11 — 1,023 — (1,012) December 31, 2022 Carrying Value (1) Estimated Fair Value Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (2) Assets Cash and due from banks $ 9 $ 9 $ 9 $ — $ — $ — Interest-bearing deposits 3,677 3,677 3,677 — — — Securities purchased under agreements to resell 7,000 7,000 — 7,000 — — Federal funds sold 4,719 4,719 — 4,719 — — Trading securities 1 1 — 1 — — AFS securities 12,713 12,713 — 11,531 1,182 — HTM securities 2,181 2,136 — 1,993 143 — Advances 89,400 89,183 — 89,183 — — Mortgage loans held for portfolio 815 695 — 695 — — Accrued interest receivable 313 313 — 313 — — Derivative assets, net (2) 26 26 — 849 — (823) Other assets (3) 15 15 15 — — — Liabilities — Deposits 989 989 — 989 — — Consolidated obligations: — Bonds 75,768 75,396 — 75,396 — — Discount notes 35,929 35,916 — 35,916 — — Total consolidated obligations 111,697 111,312 — 111,312 — — Mandatorily redeemable capital stock 5 5 5 — — — Accrued interest payable 326 326 — 326 — — Derivative liabilities, net (2) 2 2 — 1,195 — (1,193) (1) For certain financial instruments, the amounts represent net carrying value, which includes an allowance for credit losses. (2) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed with the same clearing agents or counterparty. (3) Represents publicly traded mutual funds held in a grantor trust. Fair Value Hierarchy. The fair value hierarchy is used to prioritize the fair value methodologies and valuation techniques as well as the inputs to the valuation techniques used to measure fair value for assets and liabilities carried at fair value on the Statements of Condition. The inputs are evaluated and an overall level for the fair value measurement is determined. This overall level is an indication of market observability of the fair value measurement for the asset or liability. The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). An entity must disclose the level within the fair value hierarchy in which the measurements are classified for all financial assets and liabilities measured on a recurring or non-recurring basis. The application of the fair value hierarchy to the Bank’s financial assets and financial liabilities that are carried at fair value either on a recurring or non-recurring basis is as follows: • Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in an active market that the reporting entity can access on the measurement date. An active market for the asset or liability is a market in which the transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. • Level 2 – Inputs other than quoted prices within Level 1 that are observable inputs for the asset or liability, either directly or indirectly. If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability. Level 2 inputs include the following: (1) quoted prices for similar assets or liabilities in active markets; (2) quoted prices for identical or similar assets or liabilities in markets that are not active; (3) inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates and yield curves that are observable at commonly quoted intervals, and implied volatilities); and (4) inputs that are derived principally from or corroborated by observable market data by correlation or other means. • Level 3 – Unobservable inputs for the asset or liability. Valuations are derived from techniques that use significant assumptions not observable in the market, which include pricing models, discounted cash flow models, or similar techniques. A financial instrument’s categorization within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The following assets and liabilities, including those for which the Bank has elected the fair value option, are carried at fair value on the Statements of Condition as of March 31, 2023: • Trading securities • AFS securities • Certain advances • Derivative assets and liabilities • Certain consolidated obligation bonds • Certain other assets For instruments carried at fair value, the Bank reviews the fair value hierarchy classifications on a quarterly basis. Changes in the observability of the valuation inputs may result in a reclassification of certain assets or liabilities. For the periods presented, the Bank did not have any reclassifications for transfers in or out of level 3 of the fair value hierarchy. Summary of Valuation Methodologies and Primary Inputs. For information related to the valuation methodologies and primary inputs used to develop the measurement of fair value for assets and liabilities that are measured at fair value on a recurring or nonrecurring basis in the Statements of Condition, see “Item 8. Financial Statements and Supplementary Data – Note 15 – Fair Value” in the Bank’s 2022 Form 10-K. There have been no significant changes in these valuation methodologies and primary inputs during the three months ended March 31, 2023. Subjectivity of Estimates Related to Fair Values of Financial Instruments. Estimates of the fair value of financial assets and liabilities using the methodologies described above are subjective and require judgments regarding significant matters, such as the amount and timing of future cash flows, prepayment speed assumptions, expected interest rate volatility, methods to determine possible distributions of future interest rates used to value options, and the selection of discount rates that appropriately reflect market and credit risks. Changes in these judgments may have a material effect on the fair value estimates. Fair Value Measurements. The following tables present the fair value of assets and liabilities, which are recorded on a recurring or nonrecurring basis at March 31, 2023, and December 31, 2022, by level within the fair value hierarchy. March 31, 2023 Fair Value Measurement Using: Netting Adjustments and Cash Collateral (1) (In millions) Level 1 Level 2 Level 3 Total Recurring fair value measurements – Assets: Trading securities: MBS – Other U.S. obligations $ — $ 1 $ — $ — $ 1 AFS securities: U.S. obligations – Treasury notes — 4,078 — — 4,078 MBS: GSEs – multifamily — 8,092 — — 8,092 PLRMBS — — 1,150 — 1,150 Subtotal AFS MBS — 8,092 1,150 — 9,242 Total AFS securities — 12,170 1,150 — 13,320 Advances (2) — 2,392 — — 2,392 Derivative assets, net: interest rate-related — 734 — (728) 6 Other assets 16 — — — 16 Total recurring fair value measurements – Assets $ 16 $ 15,297 $ 1,150 $ (728) $ 15,735 Recurring fair value measurements – Liabilities: Consolidated obligation bonds (3) $ — $ 782 $ — $ — $ 782 Derivative liabilities, net: interest rate-related — 1,023 — (1,012) 11 Total recurring fair value measurements – Liabilities $ — $ 1,805 $ — $ (1,012) $ 793 Nonrecurring fair value measurements – Assets: (4) Impaired mortgage loans held for portfolio $ — $ — $ 16 $ — $ 16 Total nonrecurring fair value measurements – Assets $ — $ — $ 16 $ — $ 16 December 31, 2022 Fair Value Measurement Using: Netting Adjustments and Cash Collateral (1) (In millions) Level 1 Level 2 Level 3 Total Recurring fair value measurements – Assets: Trading securities: MBS – Other U.S. obligations $ — $ 1 $ — $ — $ 1 AFS securities: U.S. obligations – Treasury notes — 4,024 — — 4,024 MBS: GSEs – multifamily — 7,507 — — 7,507 PLRMBS — — 1,182 — 1,182 Subtotal AFS MBS — 7,507 1,182 — 8,689 Total AFS securities — 11,531 1,182 — 12,713 Advances (2) — 2,059 — — 2,059 Derivative assets, net: interest rate-related — 849 — (823) 26 Other assets 15 — — — 15 Total recurring fair value measurements – Assets $ 15 $ 14,440 $ 1,182 $ (823) $ 14,814 Recurring fair value measurements – Liabilities: Consolidated obligation bonds (3) $ — $ 2,226 $ — $ — $ 2,226 Derivative liabilities, net: interest rate-related — 1,195 — (1,193) 2 Total recurring fair value measurements – Liabilities $ — $ 3,421 $ — $ (1,193) $ 2,228 Nonrecurring fair value measurements – Assets: (4) Impaired mortgage loans held for portfolio $ — $ — $ 20 $ — $ 20 Total nonrecurring fair value measurements – Assets $ — $ — $ 20 $ — $ 20 (1) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed by the Bank, with the same clearing agents or counterparty. (2) Represents advances recorded under the fair value option at March 31, 2023, and December 31, 2022. (3) Represents consolidated obligation bonds recorded under the fair value option at March 31, 2023. and December 31, 2022. (4) The fair value information presented is as of the date the fair value adjustment was recorded during the three months ended March 31, 2023 and year ended December 31, 2022. The following table presents a reconciliation of the Bank’s AFS PLRMBS that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2023 and 2022. Three Months Ended (In millions) March 31, 2023 March 31, 2022 Balance, beginning of the period $ 1,182 $ 1,608 Total gain/(loss) realized and unrealized included in: Interest income 11 14 (Provision for)/reversal of credit losses 1 3 Other income/(loss) — 28 Unrealized gain/(loss) included in AOCI (11) (33) Settlements (33) (177) Transfers of HTM securities to AFS securities — 16 Balance, end of the period $ 1,150 $ 1,459 Total amount of unrealized gain/(loss) for the period included in AOCI relating to assets held at the end of the period $ (11) $ (33) Total amount of gain/(loss) for the period included in earnings attributable to the change in unrealized gains/losses relating to assets held at the end of the period $ 12 $ 17 Fair Value Option. The fair value option provides an entity with an irrevocable option to elect fair value as an alternative measurement for selected financial assets, financial liabilities, unrecognized firm commitments, and written loan commitments not previously carried at fair value. It requires an entity to display the fair value of those assets and liabilities for which the entity has chosen to use fair value on the face of the Statements of Condition. Fair value is used for both the initial and subsequent measurement of the designated assets, liabilities, and commitments, with the changes in fair value recognized in net income. Interest income and interest expense on advances and consolidated bonds carried at fair value are recognized solely on the contractual amount of interest due or unpaid. Any transaction fees or costs are immediately recognized in other income/(loss) or other expense. For more information on the Bank’s election of the fair value option, see “Item 8. Financial Statements and Supplementary Data – Note 15 – Fair Value” in the Bank’s 2022 Form 10-K. The Bank has elected the fair value option for certain financial instruments to assist in mitigating potential earnings volatility that can arise from economic hedging relationships in which the carrying value of the hedged item is not adjusted for changes in fair value. The potential earnings volatility associated with recording fair value changes of only the hedging derivative is the Bank’s primary reason for electing the fair value option for financial assets and liabilities that do not qualify for hedge accounting or that have not previously met or may be at risk for not meeting the hedge effectiveness requirements. The following table summarizes the activity related to financial assets and liabilities for which the Bank elected the fair value option during the three months ended March 31, 2023 and 2022: Three Months Ended March 31, 2023 March 31, 2022 (In millions) Advances Consolidated Advances Consolidated Balance, beginning of the period $ 2,059 $ 2,226 $ 1,772 $ 627 New transactions elected for fair value option 550 30 10 1,325 Maturities and terminations (238) (1,485) (144) — Net gain/(loss) on advances and net (gain)/loss on consolidated obligation bonds from changes in fair value recognized in earnings 18 17 (49) (28) Change in accrued interest 3 (6) — — Balance, end of the period $ 2,392 $ 782 $ 1,589 $ 1,924 For instruments for which the fair value option has been elected, the related contractual interest income and contractual interest expense are recorded as part of net interest income on the Statements of Income. The remaining changes in fair value for instruments for which the fair value option has been elected are recorded as net gains/ (losses) on financial instruments held under the fair value option in the Statements of Income. For advances and consolidated obligations recorded under the fair value option, the Bank determined that none of the remaining changes in fair value were related to instrument-specific credit risk for the three months ended March 31, 2023, 2022, and 2021. In determining that there has been no change in instrument-specific credit risk period to period, the Bank primarily considered the following factors: • The Bank is a federally chartered GSE, and as a result of this status, the consolidated obligations have historically received the same credit ratings as the government bond credit rating of the United States, even though they are not obligations of the United States and are not guaranteed by the United States. • The Bank is jointly and severally liable with the other FHLBanks for the payment of principal and interest on all consolidated obligations of each of the FHLBanks. The following table presents the difference between the aggregate remaining contractual principal balance outstanding and aggregate fair value of advances and consolidated obligation bonds for which the Bank elected the fair value option at March 31, 2023, and December 31, 2022: March 31, 2023 December 31, 2022 (In millions) Principal Balance Fair Value Fair Value Principal Balance Fair Value Fair Value Advances (1) $ 2,417 $ 2,392 $ (25) $ 2,106 $ 2,059 $ (47) Consolidated obligation bonds 823 782 (41) 2,278 2,226 (52) (1) At March 31, 2023, and December 31, 2022, none of these advances were 90 days or more past due or had been placed on nonaccrual status.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13 — Commitments and Contingencies As provided by the FHLBank Act or regulations governing the operations of the FHLBanks, all FHLBanks have joint and several liability for all FHLBank consolidated obligations, which are backed only by the financial resources of the FHLBanks. The joint and several liability regulation authorizes the Finance Agency to require any FHLBank to repay all or a portion of the principal or interest on consolidated obligations for which another FHLBank is the primary obligor. The regulations provide a general framework for addressing the possibility that an FHLBank may be unable to repay the consolidated obligations for which it is the primary obligor. The Bank has never been asked or required to repay the principal or interest on any consolidated obligation on behalf of another FHLBank, and as of March 31, 2023, and through the filing date of this report, does not believe that it is probable that it will be asked to do so. The par value of the outstanding consolidated obligations of the FHLBanks was $1.5 trillion at March 31, 2023, and $1.2 trillion at December 31, 2022. The par value of the Bank’s participation in consolidated obligations was $133.6 billion at March 31, 2023, and $113.1 billion at December 31, 2022. For more information on the joint and several liability regulation, see “Item 8. Financial Statements and Supplementary Data – Note 16 – Commitments and Contingencies” in the Bank’s 2022 Form 10-K. Off-balance sheet commitments as of March 31, 2023, and December 31, 2022, were as follows: March 31, 2023 December 31, 2022 (In millions) Expire Within Expire After Total Expire Within Expire After Total Standby letters of credit outstanding $ 11,855 $ 10,483 $ 22,338 $ 16,591 $ 6,049 $ 22,640 Commitments to issue consolidated obligation discount notes, par — — — 300 — 300 Commitments to issue consolidated obligation bonds, par — — — 2,385 — 2,385 Standby letters of credit are generally issued for a fee on behalf of members to support their obligations to third parties. If the Bank is required to make a payment for a beneficiary’s drawing under a letter of credit, the amount is immediately due and payable by the member to the Bank and is charged to the member’s demand deposit account with the Bank. The Bank monitors the creditworthiness of members that have standby letters of credit. The value of the Bank’s obligations related to standby letters of credit is recorded in other liabilities and amounted to $71 million and $34 million at March 31, 2023, and December 31, 2022. Standby letters of credit are fully collateralized at the time of issuance. Based on the Bank’s credit analyses of members’ financial condition and collateral requirements, the Bank deemed it unnecessary to record any additional liability for credit losses on the letters of credit outstanding or other off-balance sheet commitments as of March 31, 2023, and December 31, 2022. There were no commitments to fund advances at March 31, 2023, and December 31, 2022. Advances funded under advance commitments are fully collateralized at the time of funding. The Bank has pledged securities as collateral related to its cleared and uncleared derivatives. See Note 11 – Derivatives and Hedging Activities for additional information about the Bank’s pledged collateral and other credit risk-related contingent features. As of March 31, 2023, the Bank had pledged total collateral of $1.4 billion, including securities with a carrying value of $864 million, all of which may be repledged, and cash collateral, including accrued interest, of $585 million to counterparties and the clearing house that had market risk exposure to the Bank related to derivatives. As of December 31, 2022, the Bank had pledged total collateral of $1.1 billion, including securities with a carrying value of $435 million, all of which may be repledged, and cash collateral, including accrued interest, of $694 million to counterparties and the clearing house that had market risk exposure to the Bank related to derivatives. The Bank may be subject to various pending legal proceedings that may arise in the ordinary course of business. After consultation with legal counsel, the Bank does not anticipate that the ultimate liability, if any, arising out of these matters will have a material effect on its financial condition or results of operations.

Transactions with Certain Membe

Transactions with Certain Members, Certain Nonmembers, and Other FHLBanks	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Transactions with Certain Members, Certain Nonmembers, and Other FHLBanks	Note 14 — Transactions with Certain Members, Certain Nonmembers, and Other FHLBanks Transactions with Members and Nonmembers. The following tables set forth information at the dates and for the periods indicated with respect to transactions with members that have an officer or director serving on the Bank’s board of directors. (In millions) March 31, 2023 December 31, 2022 Assets: Advances $ 8,575 $ 7,269 Mortgage loans held for portfolio 79 80 Accrued interest receivable 8 9 Liabilities: Deposits $ 18 $ 11 Capital: Capital Stock $ 260 $ 215 Three Months Ended (In millions) March 31, 2023 March 31, 2022 Interest Income: Advances $ 69 $ 13 Mortgage loans held for portfolio 1 — All transactions with members, nonmembers, and their affiliates are entered into in the ordinary course of business. As of March 31, 2023 and December 31, 2022, no shareholder owned more than 10% of the total voting interests in the Bank because of the statutory limit on members' voting rights. For more information on transactions with members and nonmembers, see “Item 8. Financial Statements and Supplementary Data – Note 17 – Transactions with Certain Members, Certain Nonmembers, and Other FHLBanks” in the Bank’s 2022 Form 10-K. Transactions with Other FHLBanks. The Bank may occasionally enter into transactions with other FHLBanks. These transactions are summarized below. Deposits with other FHLBanks . The Bank may, from time to time, maintain deposits with other FHLBanks. Deposits with other FHLBanks totaled de minimis amounts at March 31, 2023, and December 31, 2022, and were recorded as “Interest-bearing deposits” in the Statements of Condition. Overnight Funds . The Bank may borrow or lend unsecured overnight funds from or to other FHLBanks. All such transactions are at current market rates. Interest income and interest expense related to these transactions with other FHLBanks are included in interest income and interest expense in the Statements of Income. Balances outstanding at period end with other FHLBanks, if any, are identified in the Bank’s financial statements. During the three months ended March 31, 2023 and 2022, the Bank extended overnight loans to other FHLBanks for $1.3 billion and $0.7 billion, respectively. During the three months ended March 31, 2023 and 2022, the Bank borrowed $3.6 billion and $20 million, respectively, from other FHLBanks. The impact to net interest income related to these transactions was $(1) million for the three months ended March 31, 2023 and was de minimis for the three months ended March 31, 2022. MPF Mortgage Loans . The Bank pays a transaction services fee to the FHLBank Chicago that is assessed monthly based on the amount of mortgage loans in which the Bank invested and which remain outstanding on its Statements of Condition. Prior to 2022, the Bank paid a membership fee to the FHLBank of Chicago for its participation in the MPF Program. For the three months ended March 31, 2023 and 2022, the Bank recorded a de minimis amount in transaction services fee expense to the FHLBank Chicago, which was recorded in the Statements of Income as other expense.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 15 — Subsequent Events On May 1, 2023, the California DFPI closed First Republic Bank, appointed the FDIC as receiver, and the FDIC and JPMorgan Chase, National Association, a nonmember, reported that they are entering into a purchase and assumption agreement for all the deposits and substantially all of the assets of First Republic Bank, including $28.1 billion in advances outstanding from the Bank. The May 1, 2023 advances outstanding balance is unchanged compared to the outstanding balance at March 31, 2023. Upon assumption of the advances outstanding by JPMorgan Chase, National Association, the Bank will transfer $759 million of capital stock of the Bank, held by First Republic Bank, to JPMorgan Chase, National Association, and reclassify that capital stock to mandatorily redeemable as a liability in the Bank’s Statements of Condition. Additionally, as of May 1, 2023, First Republic Bank had $179.1 million in letters of credit outstanding compared to $161.9 million outstanding as of March 31, 2023. These advances outstanding and letters of credit are fully collateralized and are not expected to result in any credit loss to the Bank.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make a number of judgments, estimates, and assumptions that may affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of income, expenses, gains, and losses during the reporting period. The most significant of these estimates include: • accounting for derivatives; • estimating fair values of investments classified as trading and available-for-sale (AFS), derivatives and associated hedged items carried at fair value in accordance with the accounting for derivative instruments and associated hedging activities, and financial instruments carried at fair value under the fair value option; and • estimating the prepayment speeds on mortgage-backed securities (MBS) and mortgage loans for the accounting of amortization of premiums and accretion of discounts and credit losses previously recorded before the adoption of accounting guidance related to the measurement of credit losses on MBS and mortgage loans. Actual results could differ significantly from these estimates.
Derivatives, Embedded Derivatives	When a callable bond for which the Bank is the primary obligor is issued, the Bank may simultaneously enter into an interest rate swap (wherein the Bank pays a variable rate and receives a fixed rate) with a call feature that mirrors the call option embedded in the bond (a sold callable option in a swap). The Bank did not have any bonds with embedded features that met the requirements to separate the embedded feature from the host contract and designate the embedded feature as a stand-alone derivative at March 31, 2023, or December 31, 2022. The Bank has generally elected to account for certain bonds with embedded features under the fair value option, and these bonds are carried at fair value on the Statements of Condition.
Derivatives, Methods of Accounting, Hedging Derivatives	General . The Bank may enter into interest rate swaps (including callable, putable, and basis swaps) and cap and floor agreements (collectively, interest rate exchange agreements or derivatives). Most of the Bank’s interest rate exchange agreements are executed in conjunction with the origination of advances or the issuance of consolidated obligations to create variable rate structures. The interest rate exchange agreements are generally executed at the same time the advances and consolidated obligations are transacted and generally have the same maturity dates as the related hedged instrument. The Bank transacts most of its derivatives with large banks and major broker-dealers. For more information related to the Bank’s accounting policies for derivatives, see “Item 8. Financial Statements and Supplementary Data – Note 14 – Derivatives and Hedging Activities” in the Bank’s 2022 Form 10-K. For more information related to the Bank’s accounting policies for derivatives, see “Item 8. Financial Statements and Supplementary Data – Note 1 – Summary of Significant Accounting Policies” in the Bank’s 2022 Form 10-K.
Derivatives, Policy	Credit Risk. The Bank is subject to credit risk from potential nonperformance by counterparties to the interest rate exchange agreements. All of the Bank’s agreements governing uncleared derivative transactions contain master netting provisions to help mitigate the credit risk exposure to each counterparty. The Bank manages counterparty credit risk through credit analyses and collateral requirements and by following the requirements of the Bank’s risk management policies, credit guidelines, and Finance Agency and other regulations. The Bank also requires credit support agreements on all uncleared derivatives. For cleared derivatives, the clearing house is the Bank’s counterparty. The requirement that the Bank post initial and variation margin through a clearing agent to the clearing house exposes the Bank to institutional credit risk if the clearing agent fails to meet its obligations. The use of a clearing house, or central counterparty, lowers overall credit risk exposure because it employs standard valuation and initial and variation margin processes and is specifically designed to withstand remote but plausible counterparty default credit events. Variation margin is posted or collected for changes in the value of the portfolio, and initial margin is posted for changes in risk profile of the portfolio. The Bank analyzed the enforceability of offsetting rights applicable to its cleared derivative transactions and determined that the exercise of those offsetting rights by a non-defaulting party under these transactions should be upheld under applicable bankruptcy law and Commodity Futures Trading Commission rules in the event of a clearing house or clearing agent insolvency and under applicable clearing house rules upon a non-insolvency-based event of default of the clearing house or clearing agent. Based on this analysis, the Bank presents a net derivative receivable or payable for all of its transactions through a particular clearing agent with a particular clearing house.
Fair Value of Financial Instruments, Policy	The fair value hierarchy is used to prioritize the fair value methodologies and valuation techniques as well as the inputs to the valuation techniques used to measure fair value for assets and liabilities carried at fair value on the Statements of Condition. The inputs are evaluated and an overall level for the fair value measurement is determined. This overall level is an indication of market observability of the fair value measurement for the asset or liability. The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). An entity must disclose the level within the fair value hierarchy in which the measurements are classified for all financial assets and liabilities measured on a recurring or non-recurring basis. The application of the fair value hierarchy to the Bank’s financial assets and financial liabilities that are carried at fair value either on a recurring or non-recurring basis is as follows: • Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in an active market that the reporting entity can access on the measurement date. An active market for the asset or liability is a market in which the transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. • Level 2 – Inputs other than quoted prices within Level 1 that are observable inputs for the asset or liability, either directly or indirectly. If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability. Level 2 inputs include the following: (1) quoted prices for similar assets or liabilities in active markets; (2) quoted prices for identical or similar assets or liabilities in markets that are not active; (3) inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates and yield curves that are observable at commonly quoted intervals, and implied volatilities); and (4) inputs that are derived principally from or corroborated by observable market data by correlation or other means. • Level 3 – Unobservable inputs for the asset or liability. Valuations are derived from techniques that use significant assumptions not observable in the market, which include pricing models, discounted cash flow models, or similar techniques. A financial instrument’s categorization within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The following assets and liabilities, including those for which the Bank has elected the fair value option, are carried at fair value on the Statements of Condition as of March 31, 2023: • Trading securities • AFS securities • Certain advances • Derivative assets and liabilities • Certain consolidated obligation bonds • Certain other assets For more information on the Bank’s election of the fair value option, see “Item 8. Financial Statements and Supplementary Data – Note 15 – Fair Value” in the Bank’s 2022 Form 10-K. The Bank has elected the fair value option for certain financial instruments to assist in mitigating potential earnings volatility that can arise from economic hedging relationships in which the carrying value of the hedged item is not adjusted for changes in fair value. The potential earnings volatility associated with recording fair value changes of only the hedging derivative is the Bank’s primary reason for electing the fair value option for financial assets and liabilities that do not qualify for hedge accounting or that have not previously met or may be at risk for not meeting the hedge effectiveness requirements.
Fair Value Transfer, Policy	For instruments carried at fair value, the Bank reviews the fair value hierarchy classifications on a quarterly basis. Changes in the observability of the valuation inputs may result in a reclassification of certain assets or liabilities. For the periods presented, the Bank did not have any reclassifications for transfers in or out of level 3 of the fair value hierarchy.
Stockholders' Equity, Policy	Capital Requirements. The FHLBank Act and regulations governing the operations of the FHLBanks require that the Bank’s minimum capital stock requirement for shareholders must be sufficient to enable the Bank to meet its regulatory requirements for total capital, leverage capital, and risk-based capital. For further information related to the Bank’s capital requirements, see “Item 8. Financial Statements and Supplementary Data – Note 11 – Capital” in the Bank’s 2022 Form 10-K.
New Accounting Pronouncements	Accounting Standards Update (ASU) Description Effective Date Effect on the Financial Statements or Other Significant Matters Facilitation of the Effects of Reference Rate Reform on Financial Reporting, as amended (ASU 2020-04) This update provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The new guidance provides optional expedients and exceptions for applying generally accepted accounting principles to transactions affected by reference rate reform if certain criteria are met. These transactions include: This guidance became effective beginning March 2020 through December 31, 2024. The Bank has assessed the guidance and has elected some of the optional expedients and exceptions provided related to the discounting transition for uncleared derivative transactions on a prospective basis since 2021, which did not have a material effect on the Bank’s financial condition, results of operations, cash flows, and financial statement disclosures. Troubled Debt Restructurings and Vintage Disclosures (ASU 2022-02) This guidance eliminates the accounting guidance for troubled debt restructurings by creditors that have adopted the current expected credit losses methodology while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors made to borrowers experiencing financial difficulty. Additionally, this guidance requires disclosure of current-period gross write-offs by year of origination for financing receivables and net investment in leases. The guidance became effective for the Bank for the interim and annual periods beginning on January 1, 2023. The Bank adopted this guidance as of January 1, 2023. The adoption of this guidance did not have a material effect on the Bank’s financial condition, results of operations, cash flows, and financial statement disclosures.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Instrument [Line Items]
Trading Securities (and Certain Trading Assets)	The estimated fair value of trading securities that were MBS - other U.S. obligations was $1 million as of March 31, 2023, and December 31, 2022.
Available-for-sale Securities	AFS securities by major security type as of March 31, 2023, and December 31, 2022, were as follows: March 31, 2023 (In millions) Amortized Cost (1) Allowance for Credit Losses Gross Gross Estimated Fair Value U.S. obligations – Treasury notes $ 4,062 $ — $ 16 $ — $ 4,078 MBS: Government Sponsored Enterprises (GSEs) – multifamily 8,173 — — (81) 8,092 PLRMBS 1,159 (28) 45 (26) 1,150 Total MBS 9,332 (28) 45 (107) 9,242 Total $ 13,394 $ (28) $ 61 $ (107) $ 13,320 December 31, 2022 (In millions) Amortized Cost (1) Allowance for Credit Losses Gross Gross Estimated Fair Value U.S. obligations – Treasury notes $ 4,012 $ — $ 12 $ — $ 4,024 MBS: GSEs – multifamily 7,562 — 2 (57) 7,507 PLRMBS 1,183 (30) 54 (25) 1,182 Total MBS 8,745 (30) 56 (82) 8,689 Total $ 12,757 $ (30) $ 68 $ (82) $ 12,713 (1) Amortized cost includes unpaid principal balance, unamortized premiums and discounts, net charge-offs, and valuation adjustments for hedging activities, and excludes accrued interest receivable
Held-to-maturity Securities	Held-to-Maturity Securities. The Bank classifies the following securities as HTM because the Bank has the positive intent and ability to hold these securities to maturity: March 31, 2023 (In millions) Amortized Cost (1) Gross Unrecognized Holding Gains (2) Gross Unrecognized Holding Losses (2) Estimated MBS – Other U.S. obligations – single-family $ 67 $ — $ (2) $ 65 MBS – GSEs: MBS – GSEs – single-family 709 1 (18) 692 MBS – GSEs – multifamily 1,181 — (6) 1,175 Subtotal MBS – GSEs 1,890 1 (24) 1,867 PLRMBS 147 — (11) 136 Total $ 2,104 $ 1 $ (37) $ 2,068 December 31, 2022 (In millions) Amortized Cost (1) Gross Unrecognized Holding Gains (2) Gross Unrecognized Holding Losses (2) Estimated MBS – Other U.S. obligations – single-family $ 72 $ — $ (2) $ 70 MBS – GSEs: MBS – GSEs – single-family 745 1 (22) 724 MBS – GSEs – multifamily 1,209 — (10) 1,199 Subtotal MBS – GSEs 1,954 1 (32) 1,923 PLRMBS 155 — (12) 143 Total $ 2,181 $ 1 $ (46) $ 2,136 (1) Amortized cost includes unpaid principal balance, unamortized premiums and discounts, and net charge-offs, and excludes accrued interest receivable of $6 million and $5 million at March 31, 2023, and December 31, 2022, respectively. (2) Gross unrecognized holding gains/(losses) represent the difference between estimated fair value and net carrying value.
Debt Securities, Available-for-sale, Allowance for Credit Loss	Allowance for Credit Losses on AFS and HTM Securities. The following table presents a rollforward of the allowance for credit losses on investment securities associated with PLRMBS classified as AFS for the three months ended March 31, 2023 and 2022. The Bank recorded no allowance for credit losses associated with HTM securities during the three months ended March 31, 2023 and 2022. Three Months Ended (In millions) March 31, 2023 March 31, 2022 Balance, beginning of the period $ 30 $ 17 (Charge-offs)/recoveries (1) — Provision for/(reversal of) credit losses (1) (3) Balance, end of the period $ 28 $ 14
Available-for-sale Securities
Debt Instrument [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value	March 31, 2023 Less Than 12 Months 12 Months or More Total (In millions) Estimated Gross Unrealized Estimated Gross Unrealized Estimated Gross Unrealized MBS – GSEs – multifamily $ 6,917 $ 64 $ 941 $ 17 $ 7,858 $ 81 PLRMBS 183 7 187 19 370 26 Total $ 7,100 $ 71 $ 1,128 $ 36 $ 8,228 $ 107 December 31, 2022 Less Than 12 Months 12 Months or More Total (In millions) Estimated Gross Estimated Gross Unrealized Estimated Gross Unrealized MBS – GSEs – multifamily $ 6,635 $ 57 $ — $ — $ 6,635 $ 57 PLRMBS 292 17 68 8 360 25 Total $ 6,927 $ 74 $ 68 $ 8 $ 6,995 $ 82
Investments Classified by Contractual Maturity Date and Prepayment Fees	The amortized cost and estimated fair value of U.S. Treasury securities classified as AFS by contractual maturity (based on contractual final principal payment) and of MBS classified as AFS as of March 31, 2023, and December 31, 2022, are shown below. Expected maturities of MBS classified as AFS will differ from contractual maturities because borrowers may have the right to call or prepay the underlying obligations with or without call or prepayment fees. March 31, 2023 (In millions) Year of Contractual Maturity Amortized Estimated U.S. obligations – Treasury notes – Due after 1 year through 5 years $ 4,062 $ 4,078 MBS 9,332 9,242 Total $ 13,394 $ 13,320 December 31, 2022 (In millions) Year of Contractual Maturity Amortized Estimated U.S. obligations – Treasury notes – Due after 1 year through 5 years $ 4,012 $ 4,024 MBS 8,745 8,689 Total $ 12,757 $ 12,713

Advances (Tables)

Advances (Tables)	3 Months Ended
	Mar. 31, 2023
Federal Home Loan Banks [Abstract]
Federal Home Loan Bank, Advances	Redemption Terms. The Bank had advances outstanding at interest rates ranging from 0.21% to 8.57% at March 31, 2023, and 0.21% to 8.57% at December 31, 2022, as summarized below. (Dollars in millions) March 31, 2023 December 31, 2022 Redemption Term Amount Outstanding (1) Weighted Amount Outstanding (1) Weighted Overdrawn demand and overnight deposit accounts $ — 4.65 % $ 2 4.15 % Within 1 year (2) 64,758 4.87 71,050 4.34 After 1 year through 2 years 22,750 3.99 7,634 3.30 After 2 years through 3 years 5,433 3.60 4,036 2.22 After 3 years through 4 years 4,284 2.62 3,391 2.05 After 4 years through 5 years 3,702 3.73 2,815 3.24 After 5 years 1,092 3.58 1,189 3.50 Total par value 102,019 4.45 % 90,117 4.03 % Valuation adjustments for hedging activities (453) (670) Valuation adjustments under fair value option (25) (47) Total $ 101,541 $ 89,400 (1) Carrying amounts exclude accrued interest receivable of $103 million and $241 million at March 31, 2023, and December 31, 2022, respectively. (2) Advances outstanding with redemption terms within three months totaled $45.6 billion and $46.3 billion at March 31, 2023, and December 31, 2022, respectively. The following table summarizes advances at March 31, 2023, and December 31, 2022, by the earlier of the year of redemption term or next call date for callable advances and by the earlier of the year of redemption term or next put date for putable advances. Earlier of Redemption Earlier of Redemption (In millions) March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Overdrawn demand and overnight deposit accounts $ — $ 2 $ — $ 2 Within 1 year 65,078 71,370 65,608 71,850 After 1 year through 2 years 22,760 7,634 23,250 7,634 After 2 years through 3 years 5,433 4,046 4,983 3,836 After 3 years through 4 years 4,284 3,391 4,284 3,391 After 4 years through 5 years 3,712 2,825 2,802 2,215 After 5 years 752 849 1,092 1,189 Total par value $ 102,019 $ 90,117 $ 102,019 $ 90,117 Concentration Risk. The following tables present the concentration in advances to the top 10 borrowers and their affiliates at March 31, 2023, and March 31, 2022. The tables also present the interest income from these advances before the impact of interest rate exchange agreements hedging these advances for the three months ended March 31, 2023 and 2022. March 31, 2023 (In millions) Name of Borrower Advances Percentage of Interest (1) Percentage of First Republic Bank (2) $ 28,100 28 % $ 176 18 % MUFG Union Bank, National Association (3) 11,050 11 36 4 Western Alliance Bank 11,000 11 27 3 City National Bank 8,850 9 115 12 Pacific Western Bank 5,450 5 25 3 First Technology Federal Credit Union (4) 4,458 4 38 4 Bank of the West (5) 2,600 3 66 7 Wells Fargo National Bank West 2,000 2 24 2 First Foundation Bank 2,000 2 12 1 Luther Burbank Savings Bank (4) 1,702 2 9 1 Subtotal 77,210 77 528 55 Others 24,809 23 443 45 Total par value $ 102,019 100 % $ 971 100 % March 31, 2022 (In millions) Name of Borrower Advances Percentage of Interest (1) Percentage of MUFG Union Bank, National Association (3) $ 4,050 20 % $ 13 18 % First Republic Bank (2) 3,700 18 9 13 First Technology Federal Credit Union (4) 1,800 9 8 12 Silvergate Bank 800 4 — — Wescom Central Credit Union 760 4 1 2 Luther Burbank Savings 752 4 3 4 Bank of Hope 700 3 1 2 Pacific Western Bank 629 3 — — Pacific Premier Bank 600 3 — — Banc of California, NA 561 3 3 4 Subtotal 14,352 71 38 55 Others 6,121 29 30 45 Total par value $ 20,473 100 % $ 68 100 % (1) Interest income amounts exclude the interest effect of interest rate exchange agreements with derivative counterparties; as a result, the total interest income amounts will not agree to the Statements of Income. The amount of interest income from advances can vary depending on the amount outstanding, terms to maturity, interest rates, and repricing characteristics. (2) On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) closed First Republic Bank, appointed the FDIC as receiver, and the FDIC and JPMorgan Chase, National Association, a nonmember, reported that they are entering into a purchase and assumption agreement for substantially all of the assets of First Republic Bank, including $28.1 billion in advances outstanding from the Bank. These advances outstanding are fully collateralized and are not expected to result in any credit loss to the Bank. (3) On December 1, 2022, U.S. Bancorp, a nonmember, announced that it completed its acquisition of MUFG Union Bank, National Association. (4) An officer or director of the member is a Bank director. (5) On February 1, 2023, BMO Harris, a nonmember, announced that it completed its acquisition of Bank of the West. Interest Rate Payment Terms. Interest rate payment terms for advances at March 31, 2023, and December 31, 2022, are detailed below: (In millions) March 31, 2023 December 31, 2022 Par value of advances: Fixed rate: Due within 1 year $ 42,646 $ 47,621 Due after 1 year 37,246 18,050 Total fixed rate 79,892 65,671 Adjustable rate: Due within 1 year 22,112 23,431 Due after 1 year 15 1,015 Total adjustable rate 22,127 24,446 Total par value $ 102,019 $ 90,117

Mortgage Loans Held for Portf_2

Mortgage Loans Held for Portfolio (Tables)	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	The following table presents information as of March 31, 2023, and December 31, 2022, on mortgage loans held for portfolio, all of which are secured by one- to four-unit residential properties and single-unit homes. (In millions) March 31, 2023 December 31, 2022 Fixed rate medium-term mortgage loans $ 13 $ 14 Fixed rate long-term mortgage loans 749 761 Subtotal 762 775 Unamortized premiums 42 43 Unamortized discounts (2) (2) Mortgage loans held for portfolio (1) 802 816 Less: Allowance for credit losses (1) (1) Total mortgage loans held for portfolio, net $ 801 $ 815
Financing Receivable Credit Quality Indicators	The following tables present the payment status for mortgage loans and other delinquency statistics for the Bank’s mortgage loans at March 31, 2023, and December 31, 2022. March 31, 2023 (Dollars in millions) Origination Year Payment Status 2019 to 2023 Prior to 2019 Amortized Cost (1) 30 – 59 days delinquent $ 2 $ 6 $ 8 60 – 89 days delinquent 1 1 2 90 days or more delinquent 4 14 18 Total past due 7 21 28 Total current loans 358 416 774 Total mortgage loans held for portfolio $ 365 $ 437 $ 802 In process of foreclosure, included above (2) $ 2 Nonaccrual loans (3) $ 18 Serious delinquencies as a percentage of total mortgage loans outstanding (4) 2.22 % December 31, 2022 (Dollars in millions) Origination Year Payment Status 2018 to 2022 Prior to 2018 Amortized Cost (1) 30 – 59 days delinquent $ 4 $ 5 $ 9 60 – 89 days delinquent 2 1 3 90 days or more delinquent 11 8 19 Total past due 17 14 31 Total current loans 449 336 785 Total mortgage loans held for portfolio $ 466 $ 350 $ 816 In process of foreclosure, included above (2) $ 3 Nonaccrual loans (3) $ 19 Serious delinquencies as a percentage of total mortgage loans outstanding (4) 2.30 % (1) The amortized cost in a loan is the unpaid principal balance of the loan, adjusted for net deferred loan fees or costs, unamortized premiums or discounts, and direct write-downs. (2) Includes loans for which the servicer has reported a decision to foreclose or to pursue a similar alternative, such as deed-in-lieu. Loans in process of foreclosure are included in past due or current loans depending on their delinquency status. (3) At March 31, 2023, and December 31, 2022, $6 million and $7 million, respectively, of mortgage loans on nonaccrual status did not have an associated allowance for credit losses because these loans were either previously charged off to the expected recoverable value or the fair value of the underlying collateral, including any credit enhancements, is greater than the amortized cost of the loans. (4) Represents loans that are 90 days or more past due or in the process of foreclosure as a percentage of the recorded investment of total mortgage loans outstanding.
Financing Receivable, Allowance for Credit Loss	The amount of charge-offs and recoveries of allowance for credit losses on the mortgage loan portfolio were de minimis for the three months ended March 31, 2023 and 2022, respectively.

Deposits (Tables)

Deposits (Tables)	3 Months Ended
	Mar. 31, 2023
Deposits [Abstract]
Schedule of Deposit Liabilities by Component	Deposits and interest rate payment terms for deposits as of March 31, 2023, and December 31, 2022, were as follows:
Schedule of Interest Rate Payment Terms On Deposit Liabilities	March 31, 2023 December 31, 2022 (Dollars in millions) Amount Weighted Amount Weighted Interest-bearing deposits: Adjustable rate $ 1,014 4.65 % $ 983 4.15 % Fixed rate 2 4.40 — — Total interest-bearing deposits 1,016 983 Non-interest-bearing deposits 6 6 Total $ 1,022 $ 989

Consolidated Obligations (Table

Consolidated Obligations (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Maturities of Long-term Debt	The following is a summary of the Bank’s participation in consolidated obligation bonds at March 31, 2023, and December 31, 2022. (Dollars in millions) March 31, 2023 December 31, 2022 Contractual Maturity Amount Weighted Amount Weighted Within 1 year $ 62,616 4.62 % $ 58,301 4.05 % After 1 year through 2 years 23,046 4.12 8,268 2.30 After 2 years through 3 years 4,080 1.26 2,317 1.26 After 3 years through 4 years 3,888 1.11 5,473 0.99 After 4 years through 5 years 1,142 2.97 1,255 1.47 After 5 years 1,182 2.01 1,293 1.73 Total par value 95,954 4.16 % 76,907 3.47 % Unamortized premiums — 1 Unamortized discounts (10) (5) Valuation adjustments for hedging activities (869) (1,083) Fair value option valuation adjustments (41) (52) Total $ 95,034 $ 75,768
Schedule of Long-term Debt by Call Feature	The Bank’s participation in consolidated obligation bonds at March 31, 2023, and December 31, 2022, was as follows: (In millions) March 31, 2023 December 31, 2022 Par value of consolidated obligation bonds: Non-callable $ 72,169 $ 57,164 Callable 23,785 19,743 Total par value $ 95,954 $ 76,907
Schedule of Maturities of Long-term Debt by Contractual or Next Call Date	The following is a summary of the Bank’s participation in consolidated obligation bonds outstanding at March 31, 2023, and December 31, 2022, by the earlier of the year of contractual maturity or next call date. (In millions) Earlier of Contractual March 31, 2023 December 31, 2022 Within 1 year $ 78,409 $ 73,049 After 1 year through 2 years 17,154 3,310 After 2 years through 3 years 45 187 After 3 years through 4 years 298 313 After 4 years through 5 years 1 — After 5 years 47 48 Total par value $ 95,954 $ 76,907
Schedule of Short-term Debt	The Bank’s participation in consolidated obligation discount notes, all of which are due within one year, was as follows: March 31, 2023 December 31, 2022 (Dollars in millions) Amount Weighted Average Interest Rate (1) Amount Weighted Average Interest Rate (1) Par value $ 37,668 4.70 % $ 36,159 4.13 % Unamortized discounts (312) (230) Total $ 37,356 $ 35,929
Schedule of Interest Rate Payment Terms for Debt	Interest rate payment terms for consolidated obligations at March 31, 2023, and December 31, 2022, are detailed in the following table. For information on the general terms and types of consolidated obligations outstanding, see “Item 8. Financial Statements and Supplementary Data – Note 8 – Consolidated Obligations” in the Bank’s 2022 Form 10-K. (In millions) March 31, 2023 December 31, 2022 Par value of consolidated obligations: Bonds: Fixed rate $ 34,856 $ 25,632 Adjustable rate 60,275 48,997 Step-up 823 2,278 Total bonds, par value 95,954 76,907 Discount notes, par value 37,668 36,159 Total consolidated obligations, par value $ 133,622 $ 113,066

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in Accumulated Other Comprehensive Income (AOCI) for the three months ended March 31, 2023 and 2022: (In millions) Net Unrealized Gain/(Loss) on AFS Securities Pension and Postretirement Benefits Total Balance, December 31, 2021 $ 340 $ (9) $ 331 Other comprehensive income/(loss): Net change in fair value (149) (149) Net current period other comprehensive income/(loss) (149) — (149) Balance, March 31, 2022 $ 191 $ (9) $ 182 Balance, December 31, 2022 $ (14) $ (15) $ (29) Other comprehensive income/(loss): Net change in fair value (32) (32) Net current period other comprehensive income/(loss) (32) — (32) Balance, March 31, 2023 $ (46) $ (15) $ (61)

Capital (Tables)

Capital (Tables)	3 Months Ended
	Mar. 31, 2023
Banking Regulation, Total Capital [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations	As of March 31, 2023, and December 31, 2022, the Bank complied with these capital rules and requirements as shown in the following table. March 31, 2023 December 31, 2022 (Dollars in millions) Required Actual Required Actual Risk-based capital $ 1,095 $ 8,228 $ 898 $ 7,757 Total regulatory capital $ 5,700 $ 8,228 $ 4,842 $ 7,757 Total regulatory capital ratio 4.00 % 5.77 % 4.00 % 6.41 % Leverage capital $ 7,125 $ 12,342 $ 6,053 $ 11,636 Leverage ratio 5.00 % 8.66 % 5.00 % 9.61 % The Bank’s capital plan requires each member to own capital stock in an amount equal to the greater of its membership capital stock requirement or its activity-based capital stock requirement. The Bank may adjust these requirements from time to time within ranges established in the capital plan. Any changes to the capital plan must be approved by the Bank’s board of directors and the Finance Agency. For information on the Bank’s membership capital stock requirement and activity-based capital stock requirement, see “Item 8. Financial Statements and Supplementary Data – Note 11 – Capital – Capital Requirements” in the Bank’s 2022 Form 10-K.
Schedule of Mandatorily Redeemable Capital Stock	The Bank had mandatorily redeemable capital stock totaling $95 million outstanding to five institutions at March 31, 2023, and $5 million outstanding to three institutions at December 31, 2022. The change in mandatorily redeemable capital stock for the three months ended March 31, 2023 and 2022 was as follows: Three Months Ended (In millions) March 31, 2023 March 31, 2022 Balance at the beginning of the period $ 5 $ 3 Reclassified from/(to) capital during the period 195 32 Repurchase/redemption of mandatorily redeemable capital stock (105) (28) Balance at the end of the period $ 95 $ 7
Schedule of Mandatorily Redeemable Capital Stock by Maturity Date	The following table presents mandatorily redeemable capital stock amounts by contractual redemption period at March 31, 2023, and December 31, 2022. (In millions) Contractual Redemption Period March 31, 2023 December 31, 2022 After 3 years through 4 years $ 4 $ 1 After 4 years through 5 years 90 3 Past contractual redemption date because of remaining activity (1) 1 1 Total $ 95 $ 5 (1) Represents mandatorily redeemable capital stock that is past the end of the contractual redemption period because of outstanding activity.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table presents the Bank’s adjusted net interest income by operating segment and reconciles total adjusted net interest income to income before the AHP assessment for the three months ended March 31, 2023 and 2022. (In millions) Advances- Mortgage- Related Business (1) Adjusted Amortization of Basis Adjustments and (Gain)/Loss on Fair Value Hedges (2) Income/(Expense) on Economic Hedges (3) Interest Expense on Mandatorily Redeemable Capital Stock (4) Net Other Other Income/(Loss) Three Months Ended: March 31, 2023 $ 240 $ 53 $ 293 $ 10 $ (5) $ — $ 288 $ (26) $ 45 $ 217 March 31, 2022 31 68 99 (7) — — 106 18 38 86
Schedule of Segment Assets by Segment	The following table presents total assets by operating segment at March 31, 2023, and December 31, 2022. (In millions) Advances- Mortgage- Total March 31, 2023 $ 130,303 $ 12,190 $ 142,493 December 31, 2022 109,330 11,726 121,056

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table summarizes the notional amount and fair value of derivative instruments, including the effect of netting adjustments and cash collateral as of March 31, 2023, and December 31, 2022. For purposes of this disclosure, the derivative values include the fair value of derivatives and related accrued interest. March 31, 2023 December 31, 2022 (In millions) Notional Derivative Derivative Notional Derivative Derivative Derivatives designated as hedging instruments: Interest rate swaps $ 88,096 $ 696 $ 916 $ 69,204 $ 799 $ 1,062 Derivatives not designated as hedging instruments: Interest rate swaps 101,535 38 107 47,589 50 133 Total derivatives before netting and collateral adjustments $ 189,631 734 1,023 $ 116,793 849 1,195 Netting adjustments and cash collateral (1) (728) (1,012) (823) (1,193) Total derivative assets and total derivative liabilities $ 6 $ 11 $ 26 $ 2 (1) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral, including accrued interest, held or placed with the same clearing agents or counterparty. Cash collateral posted, including accrued interest, was $585 million and $694 million at March 31, 2023, and December 31, 2022, respectively. Cash collateral received, including accrued interest, was $300 million and $324 million at March 31, 2023, and December 31, 2022, respectively.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The following table presents the components of net gain/(loss) on derivatives as presented in the Statements of Income for the three months ended March 31, 2023 and 2022. Three Months Ended (In millions) March 31, 2023 March 31, 2022 Derivatives not designated as hedging instruments Gain/(Loss) Gain/(Loss) Economic hedges: Interest rate swaps $ (28) $ 8 Net interest settlements (5) — Total net gain/(loss) related to derivatives not designated as hedging instruments (33) 8 Price alignment amount (1) (1) — Net gain/(loss) on derivatives $ (34) $ 8
Derivative Instruments, Gain (Loss) [Table Text Block]	The following tables present, by type of hedged item, the gains and losses on fair value hedging relationships and the impact of those derivatives on the Bank’s Statements of Income for the three months ended March 31, 2023 and 2022. Three Months Ended March 31, 2023 Interest Income/(Expense) (In millions) Advances AFS Securities Consolidated Obligation Bonds Total interest income/(expense) presented in the Statements of Income $ 1,163 $ 190 $ (920) Gain/(loss) on fair value hedging relationships Derivatives (1) $ (301) $ (149) $ 84 Hedged items 189 232 (214) Net gain/(loss) on fair value hedging relationships (112) 83 (130) Net amortization of basis adjustments on discontinued hedging relationships (8) (25) — Net gain/(loss) on derivatives and hedging activities recorded in net interest income $ (120) $ 58 $ (130) Three Months Ended March 31, 2022 Interest Income/(Expense) (In millions) Advances AFS Securities Consolidated Obligation Bonds Total interest income/(expense) presented in the Statements of Income $ 39 $ 54 $ (12) Gain/(loss) on fair value hedging relationships Derivatives (1) $ 320 $ 429 $ (436) Hedged items (340) (439) 460 Net gain/(loss) on fair value hedging relationships (20) (10) 24 Net amortization of basis adjustments on discontinued hedging relationships (7) (27) — Net gain/(loss) on derivatives and hedging activities recorded in net interest income $ (27) $ (37) $ 24
Schedule of Derivative Instruments By Type, Gain (Loss) in Statement of Financial Performance	The following table presents the cumulative basis adjustments on hedged items designated as fair value hedges and the related amortized cost of the hedged items as of March 31, 2023, and December 31, 2022. March 31, 2023 December 31, 2022 (In millions) Advances AFS Securities Consolidated Obligation Bonds Advances AFS Securities Consolidated Obligation Bonds Amortized cost of hedged asset/(liability) (1) $ 44,708 $ 12,234 $ (30,791) $ 34,535 $ 11,574 $ (21,976) Fair value hedging basis adjustments: Active hedging relationships included in amortized cost $ (526) $ (1,164) $ 869 $ (740) $ (1,410) $ 1,083 Discontinued hedging relationships included in amortized cost 73 705 — 70 740 — Total amount of fair value hedging basis adjustments $ (453) $ (459) $ 869 $ (670) $ (670) $ 1,083 (1) Includes only the portion of amortized cost representing the hedged items in fair value hedging relationships.
Schedule of Derivative Instruments, Offsetting Derivative Assets	The following tables present separately the fair value of derivative assets and derivative liabilities that have met the netting requirements, including the related collateral received from or pledged to counterparties as of March 31, 2023, and December 31, 2022. March 31, 2023 Derivative Instruments Meeting Netting Requirements (In millions) Amount Recognized Gross Amount of Netting Adjustments and Cash Collateral Total Derivative Assets and Total Derivative Liabilities Noncash Collateral Not Offset That Net Amount (1) Derivative Assets Uncleared $ 727 $ (723) $ 4 $ — $ 4 Cleared 7 (5) 2 (864) 866 Total $ 6 $ 870 Derivative Liabilities Uncleared $ 986 $ (980) $ 6 $ — $ 6 Cleared 37 (32) 5 — 5 Total $ 11 $ 11 December 31, 2022 Derivative Instruments Meeting Netting Requirements (In millions) Amount Recognized Gross Amount of Netting Adjustments and Cash Collateral Total Derivative Assets and Total Derivative Liabilities Noncash Collateral Not Offset That Net Amount (1) Derivative Assets Uncleared $ 834 $ (829) $ 5 $ — $ 5 Cleared 15 6 21 (435) 456 Total $ 26 $ 461 Derivative Liabilities Uncleared $ 1,188 $ (1,186) $ 2 $ — $ 2 Cleared 7 (7) — — — Total $ 2 $ 2 (1) Any over-collateralization at the Bank’s individual clearing agent and/or counterparty level is not included in the determination of the net amount. At March 31, 2023, the Bank had additional net credit exposure of $6 million due to instances where non-cash collateral to a counterparty exceeded the Bank’s net derivative position. There was no such additional net credit exposure at December 31, 2022.
Schedule of Derivative Instruments, Offsetting Derivative Liabilities	The following tables present separately the fair value of derivative assets and derivative liabilities that have met the netting requirements, including the related collateral received from or pledged to counterparties as of March 31, 2023, and December 31, 2022. March 31, 2023 Derivative Instruments Meeting Netting Requirements (In millions) Amount Recognized Gross Amount of Netting Adjustments and Cash Collateral Total Derivative Assets and Total Derivative Liabilities Noncash Collateral Not Offset That Net Amount (1) Derivative Assets Uncleared $ 727 $ (723) $ 4 $ — $ 4 Cleared 7 (5) 2 (864) 866 Total $ 6 $ 870 Derivative Liabilities Uncleared $ 986 $ (980) $ 6 $ — $ 6 Cleared 37 (32) 5 — 5 Total $ 11 $ 11 December 31, 2022 Derivative Instruments Meeting Netting Requirements (In millions) Amount Recognized Gross Amount of Netting Adjustments and Cash Collateral Total Derivative Assets and Total Derivative Liabilities Noncash Collateral Not Offset That Net Amount (1) Derivative Assets Uncleared $ 834 $ (829) $ 5 $ — $ 5 Cleared 15 6 21 (435) 456 Total $ 26 $ 461 Derivative Liabilities Uncleared $ 1,188 $ (1,186) $ 2 $ — $ 2 Cleared 7 (7) — — — Total $ 2 $ 2 (1) Any over-collateralization at the Bank’s individual clearing agent and/or counterparty level is not included in the determination of the net amount. At March 31, 2023, the Bank had additional net credit exposure of $6 million due to instances where non-cash collateral to a counterparty exceeded the Bank’s net derivative position. There was no such additional net credit exposure at December 31, 2022.

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The following tables present the net carrying value or carrying value, as applicable, the estimated fair value, and the fair value hierarchy level of the Bank’s financial instruments at March 31, 2023, and December 31, 2022. The Bank records trading securities, AFS securities, derivative assets, derivative liabilities, certain advances, certain consolidated obligations, and certain other assets at fair value on a recurring basis, and on occasion certain mortgage loans held for portfolio and certain other assets at fair value on a nonrecurring basis. The Bank records all other financial assets and liabilities at amortized cost. Refer to the following tables for further details about the financial assets and liabilities held at fair value on either a recurring or non-recurring basis. March 31, 2023 (In millions) Carrying Value (1) Estimated Fair Value Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (2) Assets Cash and due from banks $ 17 $ 17 $ 17 $ — $ — $ — Interest-bearing deposits 3,760 3,760 3,760 — — — Securities purchased under agreements to resell 11,100 11,100 — 11,100 — — Federal funds sold 9,427 9,427 — 9,427 — — Trading securities 1 1 — 1 — — AFS securities 13,320 13,320 — 12,170 1,150 — HTM securities 2,104 2,068 — 1,932 136 — Advances 101,541 101,354 — 101,354 — — Mortgage loans held for portfolio 801 689 — 689 — — Accrued interest receivable 178 178 — 178 — — Derivative assets, net (2) 6 6 — 734 — (728) Other assets (3) 16 16 16 — — — Liabilities Deposits 1,022 1,022 — 1,022 — — Consolidated obligations: Bonds 95,034 94,704 — 94,704 — — Discount notes 37,356 37,355 — 37,355 — — Total consolidated obligations 132,390 132,059 — 132,059 — — Mandatorily redeemable capital stock 95 95 95 — — — Accrued interest payable 508 508 — 508 — — Derivative liabilities, net (2) 11 11 — 1,023 — (1,012) December 31, 2022 Carrying Value (1) Estimated Fair Value Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (2) Assets Cash and due from banks $ 9 $ 9 $ 9 $ — $ — $ — Interest-bearing deposits 3,677 3,677 3,677 — — — Securities purchased under agreements to resell 7,000 7,000 — 7,000 — — Federal funds sold 4,719 4,719 — 4,719 — — Trading securities 1 1 — 1 — — AFS securities 12,713 12,713 — 11,531 1,182 — HTM securities 2,181 2,136 — 1,993 143 — Advances 89,400 89,183 — 89,183 — — Mortgage loans held for portfolio 815 695 — 695 — — Accrued interest receivable 313 313 — 313 — — Derivative assets, net (2) 26 26 — 849 — (823) Other assets (3) 15 15 15 — — — Liabilities — Deposits 989 989 — 989 — — Consolidated obligations: — Bonds 75,768 75,396 — 75,396 — — Discount notes 35,929 35,916 — 35,916 — — Total consolidated obligations 111,697 111,312 — 111,312 — — Mandatorily redeemable capital stock 5 5 5 — — — Accrued interest payable 326 326 — 326 — — Derivative liabilities, net (2) 2 2 — 1,195 — (1,193) (1) For certain financial instruments, the amounts represent net carrying value, which includes an allowance for credit losses. (2) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed with the same clearing agents or counterparty. (3) Represents publicly traded mutual funds held in a grantor trust.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques	The following tables present the fair value of assets and liabilities, which are recorded on a recurring or nonrecurring basis at March 31, 2023, and December 31, 2022, by level within the fair value hierarchy. March 31, 2023 Fair Value Measurement Using: Netting Adjustments and Cash Collateral (1) (In millions) Level 1 Level 2 Level 3 Total Recurring fair value measurements – Assets: Trading securities: MBS – Other U.S. obligations $ — $ 1 $ — $ — $ 1 AFS securities: U.S. obligations – Treasury notes — 4,078 — — 4,078 MBS: GSEs – multifamily — 8,092 — — 8,092 PLRMBS — — 1,150 — 1,150 Subtotal AFS MBS — 8,092 1,150 — 9,242 Total AFS securities — 12,170 1,150 — 13,320 Advances (2) — 2,392 — — 2,392 Derivative assets, net: interest rate-related — 734 — (728) 6 Other assets 16 — — — 16 Total recurring fair value measurements – Assets $ 16 $ 15,297 $ 1,150 $ (728) $ 15,735 Recurring fair value measurements – Liabilities: Consolidated obligation bonds (3) $ — $ 782 $ — $ — $ 782 Derivative liabilities, net: interest rate-related — 1,023 — (1,012) 11 Total recurring fair value measurements – Liabilities $ — $ 1,805 $ — $ (1,012) $ 793 Nonrecurring fair value measurements – Assets: (4) Impaired mortgage loans held for portfolio $ — $ — $ 16 $ — $ 16 Total nonrecurring fair value measurements – Assets $ — $ — $ 16 $ — $ 16 December 31, 2022 Fair Value Measurement Using: Netting Adjustments and Cash Collateral (1) (In millions) Level 1 Level 2 Level 3 Total Recurring fair value measurements – Assets: Trading securities: MBS – Other U.S. obligations $ — $ 1 $ — $ — $ 1 AFS securities: U.S. obligations – Treasury notes — 4,024 — — 4,024 MBS: GSEs – multifamily — 7,507 — — 7,507 PLRMBS — — 1,182 — 1,182 Subtotal AFS MBS — 7,507 1,182 — 8,689 Total AFS securities — 11,531 1,182 — 12,713 Advances (2) — 2,059 — — 2,059 Derivative assets, net: interest rate-related — 849 — (823) 26 Other assets 15 — — — 15 Total recurring fair value measurements – Assets $ 15 $ 14,440 $ 1,182 $ (823) $ 14,814 Recurring fair value measurements – Liabilities: Consolidated obligation bonds (3) $ — $ 2,226 $ — $ — $ 2,226 Derivative liabilities, net: interest rate-related — 1,195 — (1,193) 2 Total recurring fair value measurements – Liabilities $ — $ 3,421 $ — $ (1,193) $ 2,228 Nonrecurring fair value measurements – Assets: (4) Impaired mortgage loans held for portfolio $ — $ — $ 20 $ — $ 20 Total nonrecurring fair value measurements – Assets $ — $ — $ 20 $ — $ 20 (1) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed by the Bank, with the same clearing agents or counterparty. (2) Represents advances recorded under the fair value option at March 31, 2023, and December 31, 2022. (3) Represents consolidated obligation bonds recorded under the fair value option at March 31, 2023. and December 31, 2022. (4) The fair value information presented is as of the date the fair value adjustment was recorded during the three months ended March 31, 2023 and year ended December 31, 2022.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	Three Months Ended (In millions) March 31, 2023 March 31, 2022 Balance, beginning of the period $ 1,182 $ 1,608 Total gain/(loss) realized and unrealized included in: Interest income 11 14 (Provision for)/reversal of credit losses 1 3 Other income/(loss) — 28 Unrealized gain/(loss) included in AOCI (11) (33) Settlements (33) (177) Transfers of HTM securities to AFS securities — 16 Balance, end of the period $ 1,150 $ 1,459 Total amount of unrealized gain/(loss) for the period included in AOCI relating to assets held at the end of the period $ (11) $ (33) Total amount of gain/(loss) for the period included in earnings attributable to the change in unrealized gains/losses relating to assets held at the end of the period $ 12 $ 17
Fair Value, Option, Quantitative Disclosures	The following table summarizes the activity related to financial assets and liabilities for which the Bank elected the fair value option during the three months ended March 31, 2023 and 2022: Three Months Ended March 31, 2023 March 31, 2022 (In millions) Advances Consolidated Advances Consolidated Balance, beginning of the period $ 2,059 $ 2,226 $ 1,772 $ 627 New transactions elected for fair value option 550 30 10 1,325 Maturities and terminations (238) (1,485) (144) — Net gain/(loss) on advances and net (gain)/loss on consolidated obligation bonds from changes in fair value recognized in earnings 18 17 (49) (28) Change in accrued interest 3 (6) — — Balance, end of the period $ 2,392 $ 782 $ 1,589 $ 1,924 The following table presents the difference between the aggregate remaining contractual principal balance outstanding and aggregate fair value of advances and consolidated obligation bonds for which the Bank elected the fair value option at March 31, 2023, and December 31, 2022: March 31, 2023 December 31, 2022 (In millions) Principal Balance Fair Value Fair Value Principal Balance Fair Value Fair Value Advances (1) $ 2,417 $ 2,392 $ (25) $ 2,106 $ 2,059 $ (47) Consolidated obligation bonds 823 782 (41) 2,278 2,226 (52) (1) At March 31, 2023, and December 31, 2022, none of these advances were 90 days or more past due or had been placed on nonaccrual status.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Off-Balance Sheet Commitments	Off-balance sheet commitments as of March 31, 2023, and December 31, 2022, were as follows: March 31, 2023 December 31, 2022 (In millions) Expire Within Expire After Total Expire Within Expire After Total Standby letters of credit outstanding $ 11,855 $ 10,483 $ 22,338 $ 16,591 $ 6,049 $ 22,640 Commitments to issue consolidated obligation discount notes, par — — — 300 — 300 Commitments to issue consolidated obligation bonds, par — — — 2,385 — 2,385

Transactions with Certain Mem_2

Transactions with Certain Members, Certain Nonmembers, and Other FHLBanks (Tables)	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Transactions with Certain Members and Nonmembers	(In millions) March 31, 2023 December 31, 2022 Assets: Advances $ 8,575 $ 7,269 Mortgage loans held for portfolio 79 80 Accrued interest receivable 8 9 Liabilities: Deposits $ 18 $ 11 Capital: Capital Stock $ 260 $ 215 Three Months Ended (In millions) March 31, 2023 March 31, 2022 Interest Income: Advances $ 69 $ 13 Mortgage loans held for portfolio 1 — All transactions with members, nonmembers, and their affiliates are entered into in the ordinary course of business. As of March 31, 2023 and December 31, 2022, no shareholder owned more than 10% of the total voting interests in the Bank because of the statutory limit on members' voting rights. For more information on transactions with members and nonmembers, see “Item 8. Financial Statements and Supplementary Data – Note 17 – Transactions with Certain Members, Certain Nonmembers, and Other FHLBanks” in the Bank’s 2022 Form 10-K.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accounting Policies [Abstract]
PLRMBS trust settlement	$ 0	$ 28

Investments Narrative (Details)

Investments Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Investments [Line Items]
Interest-Bearing Deposits, Securities Purchased Under Agreements to Resell, and Federal Funds Sold, Percentage Unrated	0%		0%
Interest-Bearing Deposits, Securities Purchased Under Agreements to Resell, and Federal Funds Sold, Percentage Rated Below Triple-B	0%		0%
Available-for-sale Securities, Premiums	$ 50		$ 52
Available for sale Securities Discounts	(140)		(113)
Debt securities, available-for-sale, amortized cost, allowance for credit loss, excluding accrued interest	$ 28	$ 14	30	$ 17
Available-for-Sale Debt Securities and Held-to-Maturity Debt Securities Private Label Mortgage Back Securities Amortized Cost, Percentage Rated Single-A Or Above	4%
Provision for/(reversal of) credit losses	$ (1)	(3)
Total net accretion or amortization recognized in interest income associated with PLRMBS with previous credit losses to the prior methodology	11	14
Fair Value Of Held to maturity Securities Transferred To Available For Sale Securities	0	19
Amortized Cost Of Held to maturity Securities Transferred To Available For Sale Securities	0	16
Accretion of yield adjustments resulting from improvement of expected cash flows that are recognized over the remaining life of the securities	7	$ 8
Interest-bearing deposits
Investments [Line Items]
Allowance for Credit Loss	0		0
Accrued Interest, after Allowance for Credit Loss	16		13
Fed Funds Sold
Investments [Line Items]
Allowance for Credit Loss	0		0
Accrued Interest, after Allowance for Credit Loss	1		1
Securities borrowed or purchased under agreements to resell
Investments [Line Items]
Allowance for Credit Loss	0		0
Accrued Interest, after Allowance for Credit Loss	1		2
Mortgage Backed Securities
Investments [Line Items]
Held-to-maturity Securities, Premiums	3		3
Held-to-maturity Securities, Discounts	(3)		(4)
Debt securities, available-for-sale, amortized cost, allowance for credit loss, excluding accrued interest	28		30
Available-for-sale Securities | Mortgage Backed Securities
Investments [Line Items]
Credit-related OTTI	341		351
Available-for-sale Securities | Other Than Mortgage Backed Securities
Investments [Line Items]
Debt securities, available-for-sale, amortized cost, allowance for credit loss, excluding accrued interest	$ 0		0
Held-to-maturity Securities | Mortgage Backed Securities
Investments [Line Items]
Credit-related OTTI			$ 0

Investments Trading Securities

Investments Trading Securities by Major Type (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
MBS – Other U.S. obligations
Trading Securities
Trading securities	$ 1	$ 1

Investments AFS Securities by M

Investments AFS Securities by Major Type (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized cost of AFS	[1]	$ 13,394	$ 12,757
Allowance for Credit Losses		(28)	(30)	$ (14)	$ (17)
Gross Unrealized Gains		61	68
Gross Unrealized Losses		(107)	(82)
Fair Value of AFS Securities	[2]	13,320	12,713
Available-for-Sale, Accrued Interest, after Allowance for Credit Loss		$ 46
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]		Interest Receivable
US Treasury Notes
Debt Securities, Available-for-sale [Line Items]
Amortized cost of AFS		$ 4,062	4,012
Allowance for Credit Losses		0	0
Gross Unrealized Gains		16	12
Gross Unrealized Losses		0	0
Fair Value of AFS Securities		4,078	4,024
PLRMBS
Debt Securities, Available-for-sale [Line Items]
Amortized cost of AFS		1,159	1,183
Allowance for Credit Losses		(28)	(30)
Gross Unrealized Gains		45	54
Gross Unrealized Losses		(26)	(25)
Fair Value of AFS Securities		1,150	1,182
Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost of AFS	[1]	9,332	8,745
Allowance for Credit Losses		(28)	(30)
Gross Unrealized Gains		45	56
Gross Unrealized Losses		(107)	(82)
Fair Value of AFS Securities		9,242	8,689
Multifamily [Member] | MBS - GSEs
Debt Securities, Available-for-sale [Line Items]
Amortized cost of AFS		8,173	7,562
Allowance for Credit Losses		0	0
Gross Unrealized Gains		0	2
Gross Unrealized Losses		(81)	(57)
Fair Value of AFS Securities		$ 8,092	$ 7,507
[1]Amortized cost includes unpaid principal balance, unamortized premiums and discounts, net charge-offs, and valuation adjustments for hedging activities, and excludes accrued interest receivable

Investments Summary of AFS Secu

Investments Summary of AFS Securities with Unrealized Losses (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less Than 12 Months: Estimated Fair Value	$ 7,100	$ 6,927
Less Than 12 Months: Unrealized Losses	71	74
12 Months or More: Estimated Fair Value	1,128	68
12 Months or More: Unrealized Losses	36	8
Unrealized Loss Position, Total Fair Value	8,228	6,995
Unrealized Loss Position, Total Accumulated Loss	107	82
Multifamily [Member] | MBS - GSEs
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less Than 12 Months: Estimated Fair Value	6,917
Less Than 12 Months: Unrealized Losses	64
12 Months or More: Estimated Fair Value	941
12 Months or More: Unrealized Losses	17
Unrealized Loss Position, Total Fair Value	7,858
Unrealized Loss Position, Total Accumulated Loss	81
Multifamily [Member] | MBS - GSEs | Fannie Mae
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less Than 12 Months: Estimated Fair Value		6,635
Less Than 12 Months: Unrealized Losses		57
12 Months or More: Estimated Fair Value		0
12 Months or More: Unrealized Losses		0
Unrealized Loss Position, Total Fair Value		6,635
Unrealized Loss Position, Total Accumulated Loss		57
PLRMBS | Residential Mortgage Backed Securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less Than 12 Months: Estimated Fair Value	183	292
Less Than 12 Months: Unrealized Losses	7	17
12 Months or More: Estimated Fair Value	187	68
12 Months or More: Unrealized Losses	19	8
Unrealized Loss Position, Total Fair Value	370	360
Unrealized Loss Position, Total Accumulated Loss	$ 26	$ 25

Investments AFS by Contractual

Investments AFS by Contractual Maturity and Prepayment Fees (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized cost of AFS	[1]	$ 13,394	$ 12,757
Available-for-sale (AFS) securities, net of allowance for credit losses of $28 and $30, respectively (amortized cost of $13,394 and $12,757, respectively)(a)	[2]	13,320	12,713
Other Than Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost of AFS		4,062	4,012
Available-for-sale (AFS) securities, net of allowance for credit losses of $28 and $30, respectively (amortized cost of $13,394 and $12,757, respectively)(a)		4,078	4,024
Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost of AFS	[1]	9,332	8,745
Available-for-sale (AFS) securities, net of allowance for credit losses of $28 and $30, respectively (amortized cost of $13,394 and $12,757, respectively)(a)		$ 9,242	$ 8,689
[1]Amortized cost includes unpaid principal balance, unamortized premiums and discounts, net charge-offs, and valuation adjustments for hedging activities, and excludes accrued interest receivable

Investments Classification of H

Investments Classification of Held-to-Maturity Securities (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity (HTM) securities (fair values of $2,068 and $2,136, respectively)	[1]	$ 2,104	$ 2,181
Gross Unrecognized Holding Gain	[2]	1	1
Gross Unrecognized Holding Loss	[2]	(37)	(46)
Fair value of held-to-maturity securities		2,068	2,136
HTM accrued interest, after allowance for credit loss		6	5
Other US Obligations
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity (HTM) securities (fair values of $2,068 and $2,136, respectively)		67	72
Gross Unrecognized Holding Gain		0	0
Gross Unrecognized Holding Loss		(2)	(2)
Fair value of held-to-maturity securities		65	70
MBS - GSEs
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity (HTM) securities (fair values of $2,068 and $2,136, respectively)	[1]	1,890	1,954
Gross Unrecognized Holding Gain	[2]	1	1
Gross Unrecognized Holding Loss	[2]	(24)	(32)
Fair value of held-to-maturity securities		1,867	1,923
Single Family [Member] | MBS - GSEs
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity (HTM) securities (fair values of $2,068 and $2,136, respectively)	[1]	709	745
Gross Unrecognized Holding Gain	[2]	1	1
Gross Unrecognized Holding Loss	[2]	(18)	(22)
Fair value of held-to-maturity securities		692	724
Multifamily [Member] | MBS - GSEs
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity (HTM) securities (fair values of $2,068 and $2,136, respectively)	[1]	1,181	1,209
Gross Unrecognized Holding Gain	[2]	0	0
Gross Unrecognized Holding Loss	[2]	(6)	(10)
Fair value of held-to-maturity securities		1,175	1,199
Residential Mortgage Backed Securities | PLRMBS
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity (HTM) securities (fair values of $2,068 and $2,136, respectively)	[1]	147	155
Gross Unrecognized Holding Gain	[2]	0	0
Gross Unrecognized Holding Loss	[2]	(11)	(12)
Fair value of held-to-maturity securities		$ 136	$ 143
[1]Amortized cost includes unpaid principal balance, unamortized premiums and discounts, and net charge-offs, and excludes accrued interest receivable of $6 million and $5 million at March 31, 2023, and December 31, 2022, respectively.[2]Gross unrecognized holding gains/(losses) represent the difference between estimated fair value and net carrying value

Investments Allowance for Credi

Investments Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Allowance for Credit Loss [Abstract]
(Charge-offs)/recoveries	$ (1)	$ 0
Provision for/(reversal of) credit losses	(1)	(3)
Debt securities, available-for-sale, amortized cost, allowance for credit loss, excluding accrued interest	$ 28	$ 14	$ 30	$ 17

Investments Significant Inputs

Investments Significant Inputs on PLRMBS (Details)	3 Months Ended
	Mar. 31, 2023
Significant Inputs on PLRMBS [Line Items]
Prepayment Weighted Average	10.10%
Default Rate Weighted Average	5.80%
Loss Severity Weighted Average	56.90%
Credit Enhancements Weighted Average	8.70%

Investments with previous credi

Investments with previous credit losses rollforward (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Total net accretion or amortization recognized in interest income associated with PLRMBS with previous credit losses to the prior methodology	$ 11	$ 14
Accretion of yield adjustments resulting from improvement of expected cash flows that are recognized over the remaining life of the securities	$ (7)	$ (8)

Transfers from HTM to AFS (Deta

Transfers from HTM to AFS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Amortized Cost Of Held to maturity Securities Transferred To Available For Sale Securities	$ 0	$ 16
Fair Value Of Held to maturity Securities Transferred To Available For Sale Securities	$ 0	$ 19

Advances (Narrative) (Details)

Advances (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Advances [Line Items]
Advances, Par Value	$ 102,019	$ 90,117
Advances with Full prepayment Symmetry Outstanding	39,900	19,200
Advances With Partial Prepayment Symmetry Outstanding	700	1,000
Federal Home Loan Bank Advances
Advances [Line Items]
Accrued Interest Receivable	$ 103	$ 241
Minimum
Advances [Line Items]
Advances, Interest Rate	0.21%	0.21%
Maximum
Advances [Line Items]
Advances, Interest Rate	8.57%	8.57%
Advances, Callable Option
Advances [Line Items]
Advances, Par Value	$ 9,200	$ 9,800
Advances, Putable Option
Advances [Line Items]
Advances, Par Value	$ 1,400	$ 800

Advances (Redemption Terms) (De

Advances (Redemption Terms) (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
Federal Home Loan Bank, Advances [Line Items]
Advances (includes $2,392 and $2,059 at fair value under the fair value option, respectively)		$ 101,541	$ 89,400
Federal Home Loan Bank Advances, Maturities [Abstract]
Overdrawn demand and overnight deposit accounts		0	2
Within 1 year(2)		64,758	71,050
After 1 year through 2 years		22,750	7,634
After 2 years through 3 years		5,433	4,036
After 3 years through 4 years		4,284	3,391
After 4 years through 5 years		3,702	2,815
After 5 years		1,092	1,189
Total par value		102,019	90,117
Valuation adjustments for hedging activities		(453)	(670)
Valuation adjustments under fair value option	[1]	(25)	(47)
Total		$ 101,541	$ 89,400
Federal Home Loan Bank Advances, Weighted Average Interest Rate [Abstract]
Overdrawn Demand Deposit		4.65%	4.15%
Within 1 year		4.87%	4.34%
After 1 year through 2 years		3.99%	3.30%
After 2 years through 3 years		3.60%	2.22%
After 3 years through 4 years		2.62%	2.05%
After 4 years through 5 years		3.73%	3.24%
After 5 years		3.58%	3.50%
Total par value		4.45%	4.03%
Silicon Valley Bank
Federal Home Loan Bank, Advances [Line Items]
Advances (includes $2,392 and $2,059 at fair value under the fair value option, respectively)		$ 0	$ 15,000
Federal Home Loan Bank Advances, Maturities [Abstract]
Total		0	15,000
Advances
Federal Home Loan Bank, Advances [Line Items]
Advances Outstanding, Redemption Terms Within Three Months		45,600	46,300
Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances [Line Items]
Accrued Interest Receivable		$ 103	$ 241
[1]At March 31, 2023, and December 31, 2022, none of these advances were 90 days or more past due or had been placed on nonaccrual status.

Advances (Earlier of Contractua

Advances (Earlier of Contractual Maturity or Next Call/Put Date) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Call Date, Rolling Year, Par Value [Abstract]
Overdrawn demand and overnight deposit accounts	$ 0	$ 2
Within 1 year	65,078	71,370
After 1 year through 2 years	22,760	7,634
After 2 years through 3 years	5,433	4,046
After 3 years through 4 years	4,284	3,391
After 4 years through 5 years	3,712	2,825
After 5 years	752	849
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put or Convert Date, Rolling Year, Par Value [Abstract]
Within 1 year	65,608	71,850
After 1 year through 2 years	23,250	7,634
After 2 years through 3 years	4,983	3,836
After 3 years through 4 years	4,284	3,391
After 4 years through 5 years	2,802	2,215
After 5 years	1,092	1,189
Total par value	$ 102,019	$ 90,117

Advances (Credit and Concentrat

Advances (Credit and Concentration Risk) (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022		Dec. 31, 2022
Advances [Line Items]
Advances Outstanding		$ 102,019			$ 90,117
Total Members
Advances [Line Items]
Advances Outstanding		102,019	$ 20,473
Interest Income from Advances	[1]	$ 971	$ 68
Total Members | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage		100%	100%
Total Members | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage		100%	100%
Top ten borrowers | First Republic Bank
Advances [Line Items]
Advances Outstanding		$ 28,100	$ 3,700
Interest Income from Advances	[1]	$ 176	$ 9
Top ten borrowers | First Republic Bank | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage		28%	18%
Top ten borrowers | First Republic Bank | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage		18%	13%
Top ten borrowers | MUFG Union Bank, NA
Advances [Line Items]
Advances Outstanding		$ 11,050	$ 4,050
Interest Income from Advances	[1]	$ 36	$ 13
Top ten borrowers | MUFG Union Bank, NA | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage		11%	20%
Top ten borrowers | MUFG Union Bank, NA | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage		4%	18%
Top ten borrowers | Western Alliance Bank
Advances [Line Items]
Advances Outstanding		$ 11,000
Interest Income from Advances	[1]	$ 27
Top ten borrowers | Western Alliance Bank | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage		11%
Top ten borrowers | Western Alliance Bank | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage		3%
Top ten borrowers | City National Bank
Advances [Line Items]
Advances Outstanding		$ 8,850
Interest Income from Advances	[1]	$ 115
Top ten borrowers | City National Bank | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage		9%
Top ten borrowers | City National Bank | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage		12%
Top ten borrowers | Pacific Western Bank
Advances [Line Items]
Advances Outstanding		$ 5,450			629
Interest Income from Advances		$ 25	$ 0
Top ten borrowers | Pacific Western Bank | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage		5%	3%
Top ten borrowers | Pacific Western Bank | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage		3%	0%
Top ten borrowers | First Technology Federal Credit Union
Advances [Line Items]
Advances Outstanding		$ 4,458	$ 1,800
Interest Income from Advances		$ 38	$ 8	[1]
Top ten borrowers | First Technology Federal Credit Union | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage		4%	9%
Top ten borrowers | First Technology Federal Credit Union | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage		4%	12%
Top ten borrowers | Bank of the West
Advances [Line Items]
Advances Outstanding		$ 2,600
Interest Income from Advances		$ 66
Top ten borrowers | Bank of the West | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage		3%
Top ten borrowers | Bank of the West | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage		7%
Top ten borrowers | Wells Fargo National Bank West
Advances [Line Items]
Advances Outstanding		$ 2,000
Interest Income from Advances		$ 24
Top ten borrowers | Wells Fargo National Bank West | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage		2%
Top ten borrowers | Wells Fargo National Bank West | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage		2%
Top ten borrowers | First Foundation Bank
Advances [Line Items]
Advances Outstanding		$ 2,000
Interest Income from Advances		$ 12
Top ten borrowers | First Foundation Bank | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage		2%
Top ten borrowers | First Foundation Bank | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage		1%
Top ten borrowers | Luther Burbank Savings
Advances [Line Items]
Advances Outstanding		$ 1,702			752
Interest Income from Advances		$ 9	$ 3
Top ten borrowers | Luther Burbank Savings | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage		2%	4%
Top ten borrowers | Luther Burbank Savings | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage		1%	4%
Top ten borrowers | Subtotal Members
Advances [Line Items]
Advances Outstanding		$ 77,210	$ 14,352
Interest Income from Advances	[1]	$ 528	$ 38
Top ten borrowers | Subtotal Members | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage		77%	71%
Top ten borrowers | Subtotal Members | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage		55%	55%
Top ten borrowers | Pacific Premier Bank
Advances [Line Items]
Advances Outstanding					600
Interest Income from Advances			$ 0
Top ten borrowers | Pacific Premier Bank | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage			3%
Top ten borrowers | Pacific Premier Bank | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage			0%
Top ten borrowers | Banc of California, NA
Advances [Line Items]
Advances Outstanding					561
Interest Income from Advances			$ 3
Top ten borrowers | Banc of California, NA | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage			3%
Top ten borrowers | Banc of California, NA | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage			4%
Top ten borrowers | Bank of Hope
Advances [Line Items]
Advances Outstanding					$ 700
Interest Income from Advances			$ 1
Top ten borrowers | Bank of Hope | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage			3%
Top ten borrowers | Bank of Hope | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage			2%
Top ten borrowers | Silvergate Bank
Advances [Line Items]
Advances Outstanding			$ 800
Interest Income from Advances	[1]		$ 0
Top ten borrowers | Silvergate Bank | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage			4%
Top ten borrowers | Silvergate Bank | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage			0%
Top ten borrowers | Wescom Central Credit Union
Advances [Line Items]
Advances Outstanding			$ 760
Interest Income from Advances	[1]		$ 1
Top ten borrowers | Wescom Central Credit Union | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage			4%
Top ten borrowers | Wescom Central Credit Union | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage			2%
Other Borrowers
Advances [Line Items]
Advances Outstanding		$ 24,809	$ 6,121
Interest Income from Advances	[1]	$ 443	$ 30
Other Borrowers | Other Borrowers | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage		23%	29%
Other Borrowers | Other Borrowers | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage		45%	45%
[1]Interest income amounts exclude the interest effect of interest rate exchange agreements with derivative counterparties; as a result, the total interest income amounts will not agree to the Statements of Income. The amount of interest income from advances can vary depending on the amount outstanding, terms to maturity, interest rates, and repricing characteristics. (2) On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) closed First Republic Bank, appointed the FDIC as receiver, and the FDIC and JPMorgan Chase, National Association, a nonmember, reported that they are entering into a purchase and assumption agreement for substantially all of the assets of First Republic Bank, including $28.1 billion in advances outstanding from the Bank. These advances outstanding are fully collateralized and are not expected to result in any credit loss to the Bank. (3) On December 1, 2022, U.S. Bancorp, a nonmember, announced that it completed its acquisition of MUFG Union Bank, National Association. (4) An officer or director of the member is a Bank director. (5) On February 1, 2023, BMO Harris, a nonmember, announced that it completed its acquisition of Bank of the West.

Advances (Interest Rate Payment

Advances (Interest Rate Payment Terms and Prepayment Fees) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Federal Home Loan Bank, Advances, Fixed Rate [Abstract]
Fixed Rate, due within 1 year	$ 42,646		$ 47,621
Fixed Rate, due after 1 year	37,246		18,050
Advances, Total Fixed Rate	79,892		65,671
Federal Home Loan Bank, Advances, Floating Rate [Abstract]
Adjustable Rate, due within 1 year	22,112		23,431
Adjustable Rate, due after 1 year	15		1,015
Advances, Total Fixed Rate	22,127		24,446
Total par value	102,019		$ 90,117
Prepayment fees on advances, net	$ 95	$ (2)

Mortgage Loans Held for Portf_3

Mortgage Loans Held for Portfolio (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fixed rate medium-term mortgage loans
Loans and Leases Receivable Disclosure [Line Items]
Unpaid principal balance	$ 13	$ 14
Fixed Rate Long Term mortgage loans
Loans and Leases Receivable Disclosure [Line Items]
Unpaid principal balance	749	761
Residential Portfolio Segment
Loans and Leases Receivable Disclosure [Line Items]
Unpaid principal balance	762	775
Unamortized premiums	42	43
Unamortized discounts	(2)	(2)
Mortgage Loans Held For Portfolio	802	816
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest	1	1
Total mortgage loans held for portfolio, net	801	815
Accrued Interest Receivable	5	$ 5
Conventional Mortgage Loan | Residential Portfolio Segment
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest	$ 1

Mortgage Loans Held for Portf_4

Mortgage Loans Held for Portfolio Delinquency Statistics (Details) - Conventional Mortgage Loan - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Mortgage Loan Delinquency Statistics
Originated, Current Fiscal Year and Preceeding Four Preceeding Fiscal Years	$ 365	$ 466
Originated Five or More Years before Latest Fiscal Year	437	350
Total Amortized Cost	802	816
In process of foreclosure, included above	2	3
Financing Receivable, Nonaccrual	$ 18	$ 19
Serious delinquencies as a percentage of total mortgage loans outstanding	2.22%	2.30%
Mortgage loans on nonaccrual status, with no allowance	$ 6	$ 7
30 to 59 Days Past Due
Mortgage Loan Delinquency Statistics
Originated, Current Fiscal Year and Preceeding Four Preceeding Fiscal Years	2	4
Originated Five or More Years before Latest Fiscal Year	6	5
Total Amortized Cost	8	9
60 to 89 Days Past Due
Mortgage Loan Delinquency Statistics
Originated, Current Fiscal Year and Preceeding Four Preceeding Fiscal Years	1	2
Originated Five or More Years before Latest Fiscal Year	1	1
Total Amortized Cost	2	3
Equal to or Greater than 90 Days Past Due
Mortgage Loan Delinquency Statistics
Originated, Current Fiscal Year and Preceeding Four Preceeding Fiscal Years	4	11
Originated Five or More Years before Latest Fiscal Year	14	8
Total Amortized Cost	18	19
Financial Asset, Past Due
Mortgage Loan Delinquency Statistics
Originated, Current Fiscal Year and Preceeding Four Preceeding Fiscal Years	7	17
Originated Five or More Years before Latest Fiscal Year	21	14
Total Amortized Cost	28	31
Financial Asset, Not Past Due
Mortgage Loan Delinquency Statistics
Originated, Current Fiscal Year and Preceeding Four Preceeding Fiscal Years	358	449
Originated Five or More Years before Latest Fiscal Year	416	336
Total Amortized Cost	$ 774	$ 785

Mortgage Loans Held for Portf_5

Mortgage Loans Held for Portfolio Allowance (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Loans and Leases Receivable Disclosure [Line Items]
Housing price forecast appreciation over one year horizon	(2.70%)	(0.70%)
Housing price forecast appreciation over five-years plus horizon	4%	4%
Residential Portfolio Segment
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest	$ 1	$ 1
Residential Portfolio Segment | Conventional Mortgage Loan
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest	$ 1

Deposits (Details)

Deposits (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Deposits [Line Items]
Interest-bearing Deposits	$ 1,016	$ 983
Noninterest-bearing Deposits	6	6
Deposits	1,022	989
Interest-bearing deposits | Adjustable rate
Deposits [Line Items]
Interest-bearing Deposits	$ 1,014	$ 983
Weighted Average Rate	4.65%	4.15%
Interest-bearing deposits | Fixed Interest Rate
Deposits [Line Items]
Interest-bearing Deposits	$ 2	$ 0
Weighted Average Rate	4.40%	0%

Consolidated Obligations Narrat

Consolidated Obligations Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Federal Home Loan Bank, Consolidated Obligations	$ 132,390	$ 111,697
Obligation with Joint and Several Liability Arrangement, Amount Outstanding	$ 1,500,000	$ 1,200,000

Consolidated Obligations (Redem

Consolidated Obligations (Redemption Terms) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total par value	$ 95,954	$ 76,907
Total CO Bonds	$ 95,034	$ 75,768
Weighted Average Interest Rate [Abstract]
Within 1 year	4.62%	4.05%
After 1 year through 2 years	4.12%	2.30%
After 2 years through 3 years	1.26%	1.26%
After 3 years through 4 years	1.11%	0.99%
After 4 years through 5 years	2.97%	1.47%
After 5 years	2.01%	1.73%
Consolidated obligation bonds
Debt Instrument [Line Items]
Within 1 year	$ 62,616	$ 58,301
After 1 year through 2 years	23,046	8,268
After 2 years through 3 years	4,080	2,317
After 3 years through 4 years	3,888	5,473
After 4 years through 5 years	1,142	1,255
After 5 years	1,182	1,293
Unamortized premiums	0	1
Unamortized discounts	(10)	(5)
Valuation adjustments for hedging activities	(869)	(1,083)
Fair value option valuation adjustments	$ (41)	$ (52)
Weighted Average Interest Rate [Abstract]
Total par amount	4.16%	3.47%

Consolidated Obligations (Conso

Consolidated Obligations (Consolidated Obligation Bonds Noncallable and Callable) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Derivatives, Notional Amount	$ 189,631	$ 116,793
CO Bonds Par	95,954	76,907
Non-callable
Debt Instrument [Line Items]
CO Bonds Par	72,169	57,164
Callable
Debt Instrument [Line Items]
CO Bonds Par	23,785	19,743
Consolidated obligation bonds | Consolidated Obligations, Callable Option [Member]
Debt Instrument [Line Items]
Derivatives, Notional Amount	$ 22,200	$ 18,100

Consolidated Obligations (Con_2

Consolidated Obligations (Consolidated Obligation Bonds by Earlier of Contractual Maturity or Next Call Date) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total bonds, par value	$ 95,954	$ 76,907
Earlier of Contractual Maturity or Next Call Date [Member]
Debt Instrument [Line Items]
Within 1 year	78,409	73,049
After 1 year through 2 years	17,154	3,310
After 2 years through 3 years	45	187
After 3 years through 4 years	298	313
After 4 years through 5 years	1	0
After 5 years	$ 47	$ 48

Consolidated Obligations (Con_3

Consolidated Obligations (Consolidated Obligation Discount Notes) (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
Short-term Debt [Line Items]
Discount notes, par value		$ 37,668	$ 36,159
Short-term Debt, Weighted Average Interest Rate, at Point in Time	[1]	4.70%	4.13%
Total		$ 37,356	$ 35,929
Discount notes
Short-term Debt [Line Items]
Unamortized discounts		$ (312)	$ (230)
[1]Represents yield to maturity excluding concession fees.

Consolidated Obligations (Inter

Consolidated Obligations (Interest Rate Payment Terms) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
CO Bonds Par	$ 95,954	$ 76,907
Discount notes, par value	37,668	36,159
Total consolidated obligations, par value	133,622	113,066
Fixed Interest Rate
Debt Instrument [Line Items]
CO Bonds Par	34,856	25,632
Adjustable Interest Rate [Member]
Debt Instrument [Line Items]
CO Bonds Par	60,275	48,997
Step-up Interest Rate [Member]
Debt Instrument [Line Items]
CO Bonds Par	$ 823	$ 2,278

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity Attributable to Parent	$ 8,072	$ 6,154	$ 7,723	$ 6,224
Accumulated Defined Benefit Plans Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity Attributable to Parent	(15)	(9)	(15)	(9)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	0	0
Accumulated Other Comprehensive Income/(Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity Attributable to Parent	(61)	182	(29)	331
Net change in fair value	(32)	(149)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(32)	(149)
Available-for-sale Securities | AOCI Unrealized gain/loss, Available-for-sale
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity Attributable to Parent	(46)	191	$ (14)	$ 340
AFS Unrealized Gain/(Loss) on AFS Securities	(32)	(149)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	$ (32)	$ (149)

Capital (Capital Requirements)

Capital (Capital Requirements) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Risk-Based Capital, Required	$ 1,095	$ 898
Risk-Based Capital, Actual	8,228	7,757
Regulatory Capital, Required	5,700	4,842
Regulatory Capital, Actual	$ 8,228	$ 7,757
Regulatory Capital Ratio, Required	4%	4%
Regulatory Capital Ratio, Actual	5.77%	6.41%
Leverage Capital, Required	$ 7,125	$ 6,053
Leverage Capital, Actual	$ 12,342	$ 11,636
Leverage ratio - Required	5%	5%
Leverage Ratio, Actual	8.66%	9.61%

Capital (Mandatorily Redeemable

Capital (Mandatorily Redeemable Capital Stock) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) Institutions	Mar. 31, 2022 USD ($)	Dec. 31, 2022 Institutions
Capital [Line Items]
Financial Instruments Subject to Mandatory Redemption, Number of Stockholders | Institutions	5		3
Interest Expense on Mandatorily Redeemable Capital Stock	$ 0	$ 0
Mandatorily Redeemable Capital Stock [Roll Forward]
Balance at the beginning of the period	5	3
Reclassified from/(to) capital during the period	195	32
Repurchase/redemption of mandatorily redeemable capital stock	(105)	(28)
Balance at the end of the period	$ 95	$ 7

Capital (By Redemption Period)

Capital (By Redemption Period) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount [Abstract]
Financial Instrument Subject to Mandatory Redemption, Maturity, Year Four	$ 4	$ 1
Financial Instrument Subject to Mandatory Redemption, Maturity, Year Five	90	3
Past contractual redemption date because of remaining activity	1	1
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Total	$ 95	$ 5	$ 7	$ 3

Capital (Retained Earnings and

Capital (Retained Earnings and Dividend Policy) (Details) - USD ($) $ in Millions		3 Months Ended
	May 11, 2023	Mar. 31, 2023	Mar. 31, 2022	Apr. 27, 2023	Jan. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Capital [Line Items]
Retained Earnings, Set by the Board inc JCEA					$ 2,700	$ 2,600
Excess Capital		$ 136				$ 157
Excess Capital to Assets		0.10%				0.13%
Amount of Excess Stock and Financial Instruments Subject to Mandatory Redemption, Repurchased During Period		$ 1,900	$ 800
Percent Of Average Balance Of Outstanding Consolidated Obligations Required Per Joint Capital Enhancement Agreement For Each Previous Quarter		1%
JCE Agreement Amounts in excess of 150% of Restricted Retained Earnings Minimum May Be Releasted		150%
Dividends [Abstract]
Dividends, Cash, Annualized Rate		7%	6%
Total dividends		$ 63	$ 35
Interest Expense on Mandatorily Redeemable Capital Stock		0	0
Retained Earnings [Abstract]
Total Capital		8,072	6,154			$ 7,723	$ 6,224
Transfers from restricted retained earnings			0
Subsequent Events [Abstract]
Dividends, Common Stock, Cash		$ 63	35
Subsequent Event
Subsequent Events [Abstract]
Dividends, Cash Declared, Annualized Rate				7%
Interest and Dividends Payable, Current				$ 67
Dividends Payable, Date to be Paid	May 11, 2023
Minimum
Capital [Line Items]
Regulatory Restrictions on Payment of Capital Stock Dividends, Excess Stock to Assets, Percent		1%
Unrestricted Retained Earnings
Retained Earnings [Abstract]
Total Capital		$ 3,356	3,183			3,262	3,124
Transfers from restricted retained earnings			(16)
Subsequent Events [Abstract]
Dividends, Common Stock, Cash		63	35
Total Restricted Retained Earnings
Retained Earnings [Abstract]
Total Capital		770	692			$ 732	$ 708
Transfers from restricted retained earnings		$ 0	$ (16)

Capital (Excess Capital Stock)

Capital (Excess Capital Stock) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Capital [Line Items]
Amount of Excess Stock Repurchased During Period	$ 1,900	$ 800
Common stock, par value	$ 100
Excess Capital	$ 136		$ 157

Capital (Concentration) (Detail

Capital (Concentration) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Concentration Risk [Line Items]
Capital Stock Outstanding	$ 4,102		$ 3,763
Silicon Valley Bank
Concentration Risk [Line Items]
Capital Stock Outstanding	0		418
First Republic Bank
Concentration Risk [Line Items]
Capital Stock Outstanding	759		379
Borrowers Holding Capital Stock Of 10% Or More
Concentration Risk [Line Items]
Capital Stock Outstanding	759		797
Other Borrowers
Concentration Risk [Line Items]
Capital Stock Outstanding	$ 3,343		$ 2,966
Other Borrowers | Other Borrowers | Other Borrowers
Concentration Risk [Line Items]
Percentage of Total Capital Stock Outstanding	81%	79%
Total Capital Stock, 10% or more | Silicon Valley Bank | Silicon Valley Bank
Concentration Risk [Line Items]
Percentage of Total Capital Stock Outstanding	0%	11%
Total Capital Stock, 10% or more | First Republic Bank | First Republic Bank
Concentration Risk [Line Items]
Percentage of Total Capital Stock Outstanding	19%	10%
Total Capital Stock, 10% or more | Borrowers Holding Capital Stock Of 10% Or More | Borrowers Holding Capital Stock Of 10% Or More
Concentration Risk [Line Items]
Percentage of Total Capital Stock Outstanding	19%	21%
Total Members | Total Members
Concentration Risk [Line Items]
Percentage of Total Capital Stock Outstanding	100%	100%

Segment Information (Details)

Segment Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) segment	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of Operating Segments | segment	2
Interest revenue (expense), net	$ 293	$ 99
Amortization of Basis Adjustments and Gain/Loss on Fair Value Hedges	10	(7)
Income/(Expense) on Economic Hedges	(5)	0
Interest Expense on Mandatorily Redeemable Capital Stock	0	0
Net Interest Income After Provision for/(Reversal of) Credit Losses	288	106
Other Income/ (Loss)	(26)	18
Other Expense	45	38
Income/(Loss) Before AHP Assessment	217	86
Total net accretion or amortization recognized in interest income associated with PLRMBS with previous credit losses to the prior methodology	11	14
Provision for/(reversal of) credit losses	(1)	(3)
Assets	142,493		$ 121,056
Advances- Related Business
Segment Reporting Information [Line Items]
Interest revenue (expense), net	240	31
Assets	130,303		109,330
Mortgage- Related Business
Segment Reporting Information [Line Items]
Interest revenue (expense), net	53	$ 68
Assets	$ 12,190		$ 11,726

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Narrative) (Details) $ in Millions	Mar. 31, 2023 USD ($)
Derivative [Line Items]
Aggregate fair value of uncleared derivative instruments with credit risk-related contingent features in a net derivative liability position (before cash collateral and related accrued interest)	$ 555
Collateral Already Posted, Aggregate Fair Value	556
Derivatives, Additional Net Credit Exposure	$ 6

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities (Derivatives in Statement of Condition) (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Derivatives, Notional Amount		$ 189,631	$ 116,793
Derivative Assets		734	849
Netting adjustments and cash collateral	[1]	(728)	(823)
Total Derivative Assets and Derivative Liabilities		6	26
Derivative Liabilities		1,023	1,195
Netting Adjustments and Cash Collateral-Derivative Liability	[1]	(1,012)	(1,193)
Derivative liabilities, net		11	2
Cash collateral posted, including accrued interest		585	694
Cash collateral received, including accrued interest		300	324
Designated as Hedging Instrument | Interest rate swaps
Derivatives, Fair Value [Line Items]
Derivatives, Notional Amount		88,096	69,204
Derivative Assets		696	799
Derivative Liabilities		916	1,062
Not Designated as Hedging Instrument, Economic Hedge | Interest rate swaps
Derivatives, Fair Value [Line Items]
Derivatives, Notional Amount		101,535	47,589
Derivative Assets		38	50
Derivative Liabilities		$ 107	$ 133
[1]Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral, including accrued interest, held or placed with the same clearing agents or counterparty. Cash collateral posted, including accrued interest, was $585 million and $694 million at March 31, 2023, and December 31, 2022, respectively. Cash collateral received, including accrued interest, was $300 million and $324 million at March 31, 2023, and December 31, 2022, respectively.

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities (Derivatives in Statement of Income) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Advances	$ 1,163	$ 39
AFS securities	190	54
Bonds	(920)	(12)
Net gain/(loss) on derivatives	(34)	8
Advances | Interest Income [Member] | Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	(301)	320
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	189	(340)
Net Gains Losses On Qualifying Active Fair Value Hedging Relationships	(112)	(20)
Amortization Accretion of Discontinued Fair Value Hedging Relationships	(8)	(7)
Gain (loss) on Fair Value Hedges Recognized in Net Interest Income	(120)	(27)
Available-for-sale Securities | Interest Income [Member] | Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	(149)	429
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	232	(439)
Net Gains Losses On Qualifying Active Fair Value Hedging Relationships	83	(10)
Amortization Accretion of Discontinued Fair Value Hedging Relationships	(25)	(27)
Gain (loss) on Fair Value Hedges Recognized in Net Interest Income	58	(37)
Consolidated Obligations, Bonds | Interest Expense [Member] | Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	84	(436)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(214)	460
Net Gains Losses On Qualifying Active Fair Value Hedging Relationships	(130)	24
Amortization Accretion of Discontinued Fair Value Hedging Relationships	0	0
Gain (loss) on Fair Value Hedges Recognized in Net Interest Income	$ (130)	$ 24

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities Cumulative adjustments table (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Advances
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amortized Cost of Hedged Asset, Fair Value Hedge	$ 44,708	$ 34,535
Basis Adjustment for Active Fair Value Hedged Asset Cumulative Increase Decrease	(526)	(740)
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	(453)	(670)
Available-for-sale Securities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amortized Cost of Hedged Asset, Fair Value Hedge	12,234	11,574
Basis Adjustment for Active Fair Value Hedged Asset Cumulative Increase Decrease	(1,164)	(1,410)
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	(459)	(670)
Consolidated Obligations, Bonds
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amortized Cost of Hedged Liability, Fair Value Hedge	(30,791)	(21,976)
Basis Adjustment for Active Fair Value Hedged Liability Cumulative Increase Decrease	869	1,083
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)	869	1,083
Advances
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Basis Adjustment for Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	73	70
Available-for-sale Securities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Basis Adjustment for Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	705	740
Consolidated Obligations, Bonds
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Basis Adjustment for Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	$ 0	$ 0

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities (Derivatives in Statement of Income and Impact on Interest) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (34)	$ 8
Net Income/(Loss)	195	78
Derivatives Not Designated As Hedging Before Price Alignment
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(33)	8
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(28)	8
Not Designated as Hedging Instrument, Economic Hedge [Member] | Net Settlements [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(5)	0
Not Designated as Hedging Instrument [Member] | Price Alignment Amount
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (1)	$ 0

Derivatives and Hedging Activ_8

Derivatives and Hedging Activities (Offsetting of Derivative Assets and Derivative Liabilities) (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Total Derivative Assets and Derivative Liabilities		$ 6	$ 26
Derivative Asset, Fair Value, Amount Offset Against Collateral		870	461
Netting Adjustments and Cash Collateral-Derivative Liability	[1]	(1,012)	(1,193)
Derivative Assets and Derivative Liabilities		11	2
Derivative Liability, Fair Value, Amount Offset Against Collateral		11	2
Uncleared derivatives
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Recognized Amount		727	834
Derivative Asset Fair Value Gross Liability and Right To Reclaim Cash Offset		(723)	(829)
Total Derivative Assets and Derivative Liabilities		4	5
Derivative Asset, Noncash collateral not offset that can be sold or repledged		0	0
Derivative Asset, Fair Value, Amount Offset Against Collateral		4	5
Derivative Liability, Fair Value, Gross Recognized Amount		986	1,188
Netting Adjustments and Cash Collateral-Derivative Liability		(980)	(1,186)
Derivative Assets and Derivative Liabilities		6	2
Derivative Liability, Noncash collateral not offset that can be sold or repledged		0	0
Derivative Liability, Fair Value, Amount Offset Against Collateral		6	2
Cleared derivatives
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Recognized Amount		7	15
Derivative Asset Fair Value Gross Liability and Right To Reclaim Cash Offset		(5)	6
Total Derivative Assets and Derivative Liabilities		2	21
Derivative Asset, Noncash collateral not offset that can be sold or repledged		(864)	(435)
Derivative Asset, Fair Value, Amount Offset Against Collateral		866	456
Derivative Liability, Fair Value, Gross Recognized Amount		37	7
Netting Adjustments and Cash Collateral-Derivative Liability		(32)	(7)
Derivative Assets and Derivative Liabilities		5	0
Derivative Liability, Noncash collateral not offset that can be sold or repledged		0	0
Derivative Liability, Fair Value, Amount Offset Against Collateral		$ 5	$ 0
[1]Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral, including accrued interest, held or placed with the same clearing agents or counterparty. Cash collateral posted, including accrued interest, was $585 million and $694 million at March 31, 2023, and December 31, 2022, respectively. Cash collateral received, including accrued interest, was $300 million and $324 million at March 31, 2023, and December 31, 2022, respectively.

Fair Value (Carrying Value and

Fair Value (Carrying Value and Fair Value of Financial Instruments) (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022		Mar. 31, 2022	Dec. 31, 2021
Assets
Cash and due from banks		$ 17	$ 9
Available-for-sale (AFS) securities, net of allowance for credit losses of $28 and $30, respectively (amortized cost of $13,394 and $12,757, respectively)(a)	[1]	13,320	12,713
HTM Securities, Fair Value	[2]	2,104	2,181
HTM securities, fair value		2,068	2,136
Interest Receivable		178	313
Derivative assets, net		6	26
Derivative Assets		734	849
Derivative Asset, Netting adjustments	[3]	728	823
Liabilities
Mandatorily redeemable capital stock		95	5		$ 7	$ 3
Accrued interest payable		508	326
Derivative liabilities, net		11	2
Derivative Liabilities		1,023	1,195
Derivative Liability, Netting adjustments	[3]	(1,012)	(1,193)
Carrying Value(1)
Assets
Cash and due from banks		17	9
Interest-bearing deposits		3,760	3,677
Securities purchased under agreements to resell		11,100	7,000
Federal funds sold		9,427	4,719
Trading securities		1	1
Available-for-sale (AFS) securities, net of allowance for credit losses of $28 and $30, respectively (amortized cost of $13,394 and $12,757, respectively)(a)		13,320	12,713
HTM securities, Carrying Value		(2,104)
HTM Securities, Fair Value			2,181
Advances		101,541	89,400
Mortgage loans held for portfolio		801	815
Interest Receivable		178	313
Derivative assets, net	[4]	6	26
Other assets	[5]	16	15
Liabilities
Deposits		1,022	989
Total consolidated obligations		132,390	111,697
Mandatorily redeemable capital stock		95	5
Accrued interest payable		508	326
Derivative liabilities, net	[4]	11	2
Estimated Fair Value
Assets
Cash and due from banks		17	9
Interest-bearing deposits		3,760	3,677
Securities purchased under agreements to resell		11,100	7,000
Federal funds sold		9,427	4,719
Trading securities		1	1
Available-for-sale (AFS) securities, net of allowance for credit losses of $28 and $30, respectively (amortized cost of $13,394 and $12,757, respectively)(a)		13,320	12,713
HTM securities, fair value		2,068	2,136
Advances		101,354	89,183
Mortgage loans held for portfolio		689	695
Interest Receivable		178	313
Derivative assets, net	[4]	6	26
Other assets	[5]	16	15
Liabilities
Deposits		1,022	989
Total consolidated obligations		132,059	111,312
Mandatorily redeemable capital stock		95	5
Accrued interest payable		508	326
Derivative liabilities, net	[4]	11	2
Level 1
Assets
Cash and due from banks		17	9
Interest-bearing deposits		3,760	3,677
Securities purchased under agreements to resell		0	0
Federal funds sold		0	0
Trading securities		0	0
Available-for-sale (AFS) securities, net of allowance for credit losses of $28 and $30, respectively (amortized cost of $13,394 and $12,757, respectively)(a)		0	0
HTM securities, fair value		0	0
Advances		0	0
Mortgage loans held for portfolio		0	0
Interest Receivable		0	0
Derivative Assets		0	0	[4]
Other assets	[5]	16	15
Liabilities
Deposits		0	0
Total consolidated obligations		0	0
Mandatorily redeemable capital stock		95	5
Accrued interest payable		0	0
Derivative Liabilities		0	0	[4]
Level 2
Assets
Cash and due from banks		0	0
Interest-bearing deposits		0	0
Securities purchased under agreements to resell		11,100	7,000
Federal funds sold		9,427	4,719
Trading securities		1	1
Available-for-sale (AFS) securities, net of allowance for credit losses of $28 and $30, respectively (amortized cost of $13,394 and $12,757, respectively)(a)		12,170	11,531
HTM securities, fair value		1,932	1,993
Advances		101,354	89,183
Mortgage loans held for portfolio		689	695
Interest Receivable		178	313
Derivative Assets	[4]	734	849
Derivative Asset, Netting adjustments	[4]	(728)	(823)
Other assets	[5]	0	0
Liabilities
Deposits		1,022	989
Total consolidated obligations		132,059	111,312
Mandatorily redeemable capital stock		0	0
Accrued interest payable		508	326
Derivative Liabilities	[4]	1,023	1,195
Derivative Liability, Netting adjustments	[4]	(1,012)	(1,193)
Level 3
Assets
Cash and due from banks		0	0
Interest-bearing deposits		0	0
Securities purchased under agreements to resell		0	0
Federal funds sold		0	0
Trading securities		0	0
Available-for-sale (AFS) securities, net of allowance for credit losses of $28 and $30, respectively (amortized cost of $13,394 and $12,757, respectively)(a)		1,150	1,182
HTM securities, fair value		136	143
Advances		0	0
Mortgage loans held for portfolio		0	0
Interest Receivable		0	0
Derivative Assets		0	0	[4]
Other assets	[5]	0	0
Liabilities
Deposits		0	0
Total consolidated obligations		0	0
Mandatorily redeemable capital stock		0	0
Accrued interest payable		0	0
Derivative Liabilities		0	0	[4]
Discount notes | Carrying Value(1)
Liabilities
Discount notes		37,356	35,929
Discount notes | Estimated Fair Value
Liabilities
Discount notes		37,355	35,916
Discount notes | Level 1
Liabilities
Discount notes		0	0
Discount notes | Level 2
Liabilities
Discount notes		37,355	35,916
Discount notes | Level 3
Liabilities
Discount notes		0	0
Bonds
Liabilities
Bonds		782	2,226
Bonds | Carrying Value(1)
Liabilities
Bonds		95,034	75,768
Bonds | Estimated Fair Value
Liabilities
Bonds		94,704	75,396
Bonds | Level 1
Liabilities
Bonds		0	0
Bonds | Level 2
Liabilities
Bonds		94,704	75,396
Bonds | Level 3
Liabilities
Bonds		$ 0	$ 0
[1]At March 31, 2023, and December 31, 2022, $864 million and $435 million, respectively, of these securities were pledged as collateral that may be repledged.[2]Amortized cost includes unpaid principal balance, unamortized premiums and discounts, and net charge-offs, and excludes accrued interest receivable of $6 million and $5 million at March 31, 2023, and December 31, 2022, respectively.[3]Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral, including accrued interest, held or placed with the same clearing agents or counterparty. Cash collateral posted, including accrued interest, was $585 million and $694 million at March 31, 2023, and December 31, 2022, respectively. Cash collateral received, including accrued interest, was $300 million and $324 million at March 31, 2023, and December 31, 2022, respectively.[4]Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed with the same clearing agents or counterparty.[5]Represents publicly traded mutual funds held in a grantor trust.

Fair Value (Fair Value Measured

Fair Value (Fair Value Measured on Recurring and Nonrecurring Basis) (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
MBS – Other U.S. obligations | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		$ 0	$ 0
MBS – Other U.S. obligations | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		1	1
MBS – Other U.S. obligations | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0	0
MBS – Other U.S. obligations | Estimate of Fair Value Measurement | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		1	1
US Treasury Securities | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		0	0
US Treasury Securities | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		4,078	4,024
US Treasury Securities | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		0	0
US Treasury Securities | Estimate of Fair Value Measurement | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		4,078	4,024
MBS - GSEs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		1	1
Residential Mortgage Backed Securities | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		0	0
Residential Mortgage Backed Securities | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		8,092	7,507
Residential Mortgage Backed Securities | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		1,150	1,182
Residential Mortgage Backed Securities | Estimate of Fair Value Measurement | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		9,242	8,689
Subtotal PLRMBS | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		0	0
Subtotal PLRMBS | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		0	0
Subtotal PLRMBS | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		1,150	1,182
Subtotal PLRMBS | Estimate of Fair Value Measurement | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		1,150	1,182
Fair value of advances under the fair value option	[1]	2,392	2,059
Derivative Asset, Netting adjustments	[2]	728	823
Derivative assets, net		6	26
Derivative Liability, Netting adjustments	[2]	(1,012)	(1,193)
Derivative liabilities, net		11	2
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0	0
Other assets	[3]	16	15
Mortgage loans held for portfolio		0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		1	1
Derivative Asset, Netting adjustments	[4]	(728)	(823)
Other assets	[3]	0	0
Derivative Liability, Netting adjustments	[4]	(1,012)	(1,193)
Mortgage loans held for portfolio		689	695
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0	0
Other assets	[3]	0	0
Mortgage loans held for portfolio		0	0
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of advances under the fair value option	[5]	2,392	2,059
Derivative Asset, Netting adjustments	[6]	(728)	(823)
Derivative Liability, Netting adjustments	[6]	(1,012)	(1,193)
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		0	0
Fair value of advances under the fair value option	[5]	0	0
Other assets		16	15
Total fair value measurements – Assets		16	15
Total recurring fair value measurements – Liabilities		0	0
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		12,170	11,531
Fair value of advances under the fair value option	[5]	2,392	2,059
Other assets		0	0
Total fair value measurements – Assets		15,297	14,440
Total recurring fair value measurements – Liabilities		1,805	3,421
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		1,150	1,182
Fair value of advances under the fair value option	[5]	0	0
Other assets		0	0
Total fair value measurements – Assets		1,150	1,182
Total recurring fair value measurements – Liabilities		0	0
Fair Value, Measurements, Nonrecurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value measurements – Assets	[7]	0	0
Mortgage loans held for portfolio		0	0	[7]
Fair Value, Measurements, Nonrecurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value measurements – Assets	[7]	0	0
Mortgage loans held for portfolio		0	0	[7]
Fair Value, Measurements, Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value measurements – Assets	[7]	16	20
Mortgage loans held for portfolio	[7]	16	20
Consolidated obligation bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bonds		782	2,226
Consolidated obligation bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bonds		0	0
Consolidated obligation bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bonds		94,704	75,396
Consolidated obligation bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bonds		0	0
Consolidated obligation bonds | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bonds	[8]	782	2,226
Consolidated obligation bonds | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bonds	[8]	0	0
Consolidated obligation bonds | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bonds	[8]	782	2,226
Consolidated obligation bonds | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bonds	[8]	0	0
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		1	1
Derivative assets, net	[4]	6	26
Other assets	[3]	16	15
Derivative liabilities, net	[4]	11	2
Mortgage loans held for portfolio		689	695
Estimate of Fair Value Measurement | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		13,320	12,713
Other assets		16	15
Total fair value measurements – Assets		15,735	14,814
Total recurring fair value measurements – Liabilities		793	2,228
Estimate of Fair Value Measurement | Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value measurements – Assets	[7]	16	20
Mortgage loans held for portfolio	[7]	16	20
Estimate of Fair Value Measurement | Consolidated obligation bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bonds		94,704	75,396
Interest rate swaps | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Netting adjustments	[6]	(728)	(823)
Derivative Liability, Netting adjustments	[6]	(1,012)	(1,193)
Interest rate swaps | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, net		0	0
Derivative liabilities, net		0	0
Interest rate swaps | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, net		734	849
Derivative liabilities, net		1,023	1,195
Interest rate swaps | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, net		0	0
Derivative liabilities, net		0	0
Interest rate swaps | Estimate of Fair Value Measurement | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, net		6	26
Derivative liabilities, net		11	2
Multifamily [Member] | MBS - GSEs | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		0	0
Multifamily [Member] | MBS - GSEs | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		8,092	7,507
Multifamily [Member] | MBS - GSEs | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		0	0
Multifamily [Member] | MBS - GSEs | Estimate of Fair Value Measurement | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		$ 8,092	$ 7,507
[1]At March 31, 2023, and December 31, 2022, none of these advances were 90 days or more past due or had been placed on nonaccrual status.[2]Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral, including accrued interest, held or placed with the same clearing agents or counterparty. Cash collateral posted, including accrued interest, was $585 million and $694 million at March 31, 2023, and December 31, 2022, respectively. Cash collateral received, including accrued interest, was $300 million and $324 million at March 31, 2023, and December 31, 2022, respectively.[3]Represents publicly traded mutual funds held in a grantor trust.[4]Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed with the same clearing agents or counterparty.[5]Represents advances recorded under the fair value option at March 31, 2023, and December 31, 2022.[6]Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed by the Bank, with the same clearing agents or counterparty[7]The fair value information presented is as of the date the fair value adjustment was recorded during the three months ended March 31, 2023[8]Represents consolidated obligation bonds recorded under the fair value option at March 31, 2023. and December 31, 2022

Fair Value (Level 3) (Details)

Fair Value (Level 3) (Details) - Subtotal PLRMBS - Fair Value, Measurements, Recurring - Level 3 - Available-for-sale Securities - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of the period	$ 1,182	$ 1,608
Interest income	11	14
Provision for Credit Losses	1	3
Other income/(loss)	0	28
Unrealized gain/(loss) included in AOCI	(11)	(33)
Settlements	(33)	(177)
Transfers of HTM to AFS	0	16
Balance, end of the period	1,150	1,459
Total amount of gain/(loss) for the period included in earnings attributable to the change in unrealized gains/losses relating to assets held at the end of the period	12	17
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	$ (11)	$ (33)

Fair Value (Fair Value Option)

Fair Value (Fair Value Option) (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Fair Value, Option, Quantitative Disclosures [Line Items]
Balance, beginning of the period	[1]	$ 2,059
Net gain/(loss) on advances and consolidated obligation bonds held under fair value option		1	$ (21)
Balance, end of the period	[1]	2,392
Advances
Fair Value, Option, Quantitative Disclosures [Line Items]
Balance, beginning of the period		2,059	1,772
New transactions elected for fair value option		550	10
Maturities and terminations		(238)	(144)
Net gain/(loss) on advances and consolidated obligation bonds held under fair value option		18	(49)
Change in accrued interest		3	0
Balance, end of the period		2,392	1,589
Consolidated obligation bonds
Fair Value, Option, Quantitative Disclosures [Line Items]
Net gain/(loss) on advances and consolidated obligation bonds held under fair value option		17	(28)
Balance, beginning of the period		2,226	627
New transactions elected for fair value option		30	1,325
Maturities and terminations		(1,485)	0
Change in accrued interest		(6)	0
Balance, end of the period		$ 782	$ 1,924
[1]At March 31, 2023, and December 31, 2022, none of these advances were 90 days or more past due or had been placed on nonaccrual status.

Fair Value (Fair Value Differen

Fair Value (Fair Value Difference Between Fair Value and Remaining Contractual Principal Balance Outstanding) (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Option, Principal Balance, Advances	[1]	$ 2,417	$ 2,106
Fair Value of advances under the fair value option	[1]	2,392	2,059
Fair Value Over/(Under) Principal Balance, Advances	[1]	(25)	(47)
Consolidated obligation bonds
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Option, Principal Balance, CO Bonds		823	2,278
Fair value of bonds under the fair value option		782	2,226
Fair Value Over/(Under) Principal Balance, CO Bonds		(41)	(52)
Advances
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of advances under the fair value option		2,392	2,059	$ 1,589	$ 1,772
Consolidated obligation bonds
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value of bonds under the fair value option		$ 782	$ 2,226	$ 1,924	$ 627
[1]At March 31, 2023, and December 31, 2022, none of these advances were 90 days or more past due or had been placed on nonaccrual status.

Commitments and Contingencies O

Commitments and Contingencies Off-Balance Sheet Commitments (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Obligation with Joint and Several Liability Arrangement, Amount Outstanding	$ 1,500,000	$ 1,200,000
Other Liabilities	272	203
Total consolidated obligations, par value	133,622	113,066
Assets Pledged As Collateral	1,400	1,100
Derivative, Collateral, Right to Reclaim Cash	585	694
Available-for-sale securities pledged as collateral that may be repledged	864	435
Standby letters of credit outstanding | Carrying Value(1)
Loss Contingencies [Line Items]
Other commitments	71
Standby letters of credit outstanding
Loss Contingencies [Line Items]
Expire Within One Year	11,855	16,591
Expire After One Year	10,483	6,049
Total	22,338	22,640
Other Liabilities		34
Commitments to issue consolidated obligation discount notes, par
Loss Contingencies [Line Items]
Expire Within One Year	0	300
Expire After One Year	0	0
Total	0	300
Commitments to issue consolidated obligation bonds, par
Loss Contingencies [Line Items]
Expire Within One Year	0	2,385
Expire After One Year	0	0
Total	0	2,385
Guarantee of Indebtedness of Others
Loss Contingencies [Line Items]
Total consolidated obligations, par value	$ 133,600	$ 113,100

Transactions with Certain Mem_3

Transactions with Certain Members, Certain Nonmembers, and Other FHLBanks (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Payments to Extend Overnight Loans to Other FHLBanks	$ 1,300	$ 700
Proceeds from Other FHLBank Borrowings	3,600	20
Interest Expense, Loans from Other Federal Home Loan Banks	(1)
Assets:
Advances	101,541		$ 89,400
Mortgage loans held for portfolio	801		815
Accrued interest receivable	178		313
Liabilities:
Deposits	1,022		989
Capital [Abstract]
Capital Stock	4,007		3,758
Interest Income:
Advances	1,163	39
Mortgage loans held for portfolio	7	17
Transaction with Member Officer or Director
Assets:
Advances	8,575		7,269
Mortgage loans held for portfolio	79		80
Accrued interest receivable	8		9
Liabilities:
Deposits	18		11
Capital [Abstract]
Capital Stock	260		$ 215
Interest Income:
Advances	69	13
Mortgage loans held for portfolio	$ 1	$ 0

Subsequent Events Narrative (De

Subsequent Events Narrative (Details) - USD ($) $ in Millions	May 01, 2023	Mar. 31, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Advances		$ 101,541	$ 89,400
Capital Stock Outstanding		4,102	3,763
First Republic Bank
Subsequent Event [Line Items]
Capital Stock Outstanding		759	$ 379
Federal Home Loan Bank, Letters of Credit Outstanding		$ 161.9
Subsequent Event | First Republic Bank
Subsequent Event [Line Items]
Federal Home Loan Bank, Letters of Credit Outstanding	$ 179.1
Subsequent Event | First Republic Bank | JPMorgan Chase
Subsequent Event [Line Items]
Advances	28,100
Capital Stock Outstanding	$ 759