Federal Home Loan Bank Of San Francisco 10-K 6 Mar 25 2024 FY Annual report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Feb. 28, 2025	Jun. 30, 2024
Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
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 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
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
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		26,912,100
Document Financial Statement Error Correction [Flag]	false
Entity Voluntary Filers	No
ICFR Auditor Attestation Flag	true
Par Value, Capital Stock Outstanding			$ 3,014
Documents Incorporated by Reference	None.
Amendment Flag	false
Entity Central Index Key	0001316944
Entity Public Float			$ 0

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Location	San Francisco, California
Auditor Name	PricewaterhouseCoopers LLP
Auditor Firm ID	238

Statements of Condition

Statements of Condition - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Assets:
Cash and due from banks		$ 2	$ 5
Interest-bearing deposits		3,765	2,922
Securities purchased under agreements to resell		7,750	3,650
Federal funds sold		1,645	3,861
Available-for-sale (AFS) securities, net of allowance for credit losses of $30 and $31, respectively (amortized cost of $20,274 and $18,105, respectively)(a)	[1]	20,312	18,014
Held-to-maturity (HTM) securities (fair values of $1,469 and $1,818, respectively)	[2]	1,489	1,847
Advances (includes $5,286 and $1,898 at fair value under the fair value option, respectively)		45,637	61,335
Mortgage loans held for portfolio, net of allowance for credit losses of $1 and $1, respectively		693	754
Accrued interest receivable		181	184
Derivative assets, net		30	16
Other assets		231	240
Total Assets		81,735	92,828
Liabilities:
Deposits		1,061	962
Consolidated obligations:
Bonds (includes $436 and $604 at fair value under the fair value option, respectively)		58,174	64,297
Discount notes		14,378	19,187
Total consolidated obligations		72,552	83,484
Mandatorily redeemable capital stock		331	706
Accrued interest payable		412	520
Affordable Housing Program (AHP) payable		140	133
Derivative liabilities, net		8	2
Other liabilities		227	353
Total Liabilities		74,731	86,160
Commitments and Contingencies (Note 15)
Capital:
Capital stock-Class B-Putable ($100 par value) issued and outstanding: 33 shares and 21 shares, respectively		2,458	2,450
Unrestricted retained earnings		3,668	3,475
Restricted retained earnings		815	815
Total Retained Earnings		4,483	4,290
Accumulated other comprehensive income/(loss) (AOCI)		63	(72)
Total Capital		7,004	6,668
Total Liabilities and Capital		$ 81,735	$ 92,828
[1]At December 31, 2024 and 2023, $504 million and $771 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 $5 million and $6 million at December 31, 2024 and 2023, respectively.

Statements of Condition (Parent

Statements of Condition (Parenthetical) - USD ($) shares in Millions, $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Debt securities, available-for-sale, amortized cost, allowance for credit loss, excluding accrued interest		$ 30	$ 31
Amortized cost of AFS	[1]	20,274	18,105
HTM securities, fair value		1,469	1,818
Fair value of advances under the fair value option	[2]	5,286	1,898
Less: Allowance for credit losses		$ 1	1
Common stock, par value		$ 100
Portion at Fair Value Measurement
Fair value of advances under the fair value option		$ 5,286	1,898
Fair value of bonds under the fair value option		$ 436	$ 604
Common Class B [Member]
Common stock, par value		$ 100	$ 100
Common Stock, Shares, Outstanding		25	25
Common Stock, Shares, Issued		25	25
[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	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Interest Income:
Advances	$ 2,767	$ 3,999	$ 1,226
Interest-bearing deposits	226	222	55
Securities purchased under agreements to resell	66	280	117
Federal funds sold	268	499	214
AFS securities	1,186	921	408
HTM securities	92	100	56
Mortgage loans held for portfolio	22	26	46
Total Interest Income	4,627	6,047	2,122
Interest Expense:
Bonds	3,143	3,901	715
Discount notes	767	1,249	821
Deposits	72	64	18
Borrowings from other FHLBanks	0	2	1
Mandatorily redeemable capital stock	65	32	0
Total Interest Expense	4,047	5,248	1,555
Net Interest Income	580	799	567
Provision for/(reversal of) credit losses	0	4	15
Net Interest Income After Provision for/(Reversal of) Credit Losses	580	795	552
Other Income/(Loss):
Net gain/(loss) on advances and consolidated obligation bonds held under fair value option	(12)	(1)	(65)
Net gain/(loss) on derivatives	53	(25)	(9)
Private-label residential mortgage-backed securities (PLRMBS) trust settlement	0	0	28
Standby letters of credit fees	19	20	17
Termination of long-term funding arrangement	30	0	0
Other, net	3	13	(2)
Total Other Income/(Loss)	93	7	(31)
Other Expense:
Compensation and benefits	106	104	93
Other operating expense	59	64	56
Federal Housing Finance Agency	9	9	7
Office of Finance	6	7	6
Voluntary housing and community investment contributions	41	16	3
Other, net	(2)	0	(3)
Total Other Expense	219	200	162
Income/(Loss) Before Assessment	454	602	359
AHP assessment	52	63	36
Net Income/(Loss)	$ 402	$ 539	$ 323

Statements of Comprehensive Inc

Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net Income/(Loss)	$ 402	$ 539	$ 323
Other Comprehensive Income/(Loss):
Net unrealized gain/(loss) on AFS securities	129	(47)	(354)
Net change in pension and postretirement benefits	6	4	(6)
Total other comprehensive income/(loss)	135	(43)	(360)
Total Comprehensive Income/(Loss)	$ 537	$ 496	$ (37)

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						68
Repurchase of capital stock, shares						(50)
Capital stock reclassified from/(to) mandatorily redeemable capital stock, net shares						(1)
Balance, Shares at Dec. 31, 2022						38
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)	(37)	323	40	283	(360)
Issuance of capital stock, value	6,740					6,740
Repurchase of capital stock, value	(4,997)					(4,997)
Capital stock reclassified from/(to) mandatorily redeemable capital stock, net	(46)					(46)
Transfers from restricted retained earnings	0	0	(16)	(16)
Cash dividends on capital stock	(161)	(161)		(161)
Balance at Dec. 31, 2022	$ 7,723	3,994	732	3,262	(29)	$ 3,758
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends, Cash, Annualized Rate	6.30%
Issuance of capital stock, shares						32
Repurchase of capital stock, shares						(32)
Capital stock reclassified from/(to) mandatorily redeemable capital stock, net shares						(13)
Balance, Shares at Dec. 31, 2023						25
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive Income (Loss)	$ 496	539	83	456	(43)
Issuance of capital stock, value	3,161					$ 3,161
Repurchase of capital stock, value	(3,217)					(3,217)
Capital stock reclassified from/(to) mandatorily redeemable capital stock, net	(1,252)					(1,252)
Cash dividends on capital stock	(243)	(243)		(243)
Balance at Dec. 31, 2023	$ 6,668	4,290	815	3,475	(72)	$ 2,450
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends, Cash, Annualized Rate	7.49%
Issuance of capital stock, shares						17
Repurchase of capital stock, shares						(17)
Capital stock reclassified from/(to) mandatorily redeemable capital stock, net shares						0
Balance, Shares at Dec. 31, 2024						25
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive Income (Loss)	$ 537	402	0	402	135
Issuance of capital stock, value	1,720					$ 1,720
Repurchase of capital stock, value	(1,676)					(1,676)
Capital stock reclassified from/(to) mandatorily redeemable capital stock, net	(36)					(36)
Cash dividends on capital stock	(209)	(209)		(209)
Balance at Dec. 31, 2024	$ 7,004	$ 4,483	$ 815	$ 3,668	$ 63	$ 2,458
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends, Cash, Annualized Rate	8.75%

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net Cash Provided by (Used in) Operating Activities
Net Income/(Loss)	$ 402	$ 539	$ 323
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Depreciation and amortization/(accretion)	(2)	21	270
Provision for/(reversal of) credit losses	0	4	15
Change in net fair value adjustment on advances and consolidated obligation bonds held under the fair value option	12	1	65
Change in net derivatives and hedging activities	(52)	(652)	1,302
PLRMBS trust settlement	0	0	28
Other adjustments, net	6	5	6
Net change in:
Accrued interest receivable	(10)	127	(272)
Other assets	(5)	(43)	27
Accrued interest payable	(109)	188	302
Other liabilities	6	56	(33)
PLRMBS contingent liability	0	0	(41)
Total adjustments	(154)	(293)	1,613
Net cash provided by/(used in) operating activities	248	246	1,936
Net Cash Provided by (Used in) Investing Activities
Interest-bearing deposits	(701)	1,096	(3,167)
Securities purchased under agreements to resell	(4,100)	3,350	8,500
Federal funds sold	2,216	858	629
Trading securities:
Proceeds	0	1	251
AFS securities:
Proceeds from sales	0	0	28
Proceeds	516	260	1,270
Purchases	(2,957)	(5,152)	(5,159)
HTM securities:
Proceeds	359	332	1,015
Advances:
Repaid	883,175	1,368,658	1,704,744
Originated	(867,282)	(1,340,253)	(1,778,003)
Mortgage loans held for portfolio:
Principal collected	58	59	179
Other investing activities, net	0	(2)	(2)
Net cash provided by/(used in) investing activities	11,284	29,207	(69,715)
Net Cash Provided by (Used in) Financing Activities
Net change in deposits and other financing activities	203	26	412
Net (payments)/proceeds on derivative contracts with financing elements	20	20	(10)
Net proceeds from issuance of consolidated obligations:
Bonds	55,714	85,638	70,127
Discount notes	71,409	128,658	216,863
Payments for matured and retired consolidated obligations:
Bonds	(62,141)	(97,575)	(16,086)
Discount notes	(76,164)	(145,374)	(205,111)
Proceeds from issuance of capital stock	1,720	3,161	6,740
Repurchase/redemption of mandatorily redeemable capital stock	(411)	(551)	(44)
Payments for repurchase of capital stock	(1,676)	(3,217)	(4,997)
Cash dividends paid	(209)	(243)	(161)
Net cash provided by/(used in) financing activities	(11,535)	(29,457)	67,733
Net increase/(decrease) in cash and due from banks	(3)	(4)	(46)
Cash and due from banks beginning of period	5	9	55
Cash and due from banks end of period	2	5	9
Supplemental Disclosures:
Interest paid	4,164	5,307	1,078
AHP grant payments	54	41	40
Transfers of HTM securities to AFS securities	0	2	17
Transfers of capital stock to mandatorily redeemable capital stock	$ 36	$ 1,252	$ 46

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	Note 1 — Summary of Significant Accounting Policies 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 is the accounting for derivatives and hedging activities. Actual results could differ significantly from these estimates. Estimated Fair Values. A portion of the Bank’s financial instruments lack an available liquid trading market as characterized by frequent exchange transactions between a willing buyer and willing seller. Therefore, the Bank uses financial models employing significant assumptions and present value calculations for the purpose of determining estimated fair values. Thus, the fair values may not represent the actual values of the financial instruments that could have been realized as of yearend or that will be realized in the future. Fair values for certain financial instruments are based on quoted prices, market rates, or replacement rates for similar financial instruments as of the last business day of the year. The estimated fair values of the Bank’s financial instruments and related assumptions are detailed in Note 14 – Fair Value. 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. These investments provide short-term liquidity and are carried at cost. The Bank invests in federal funds sold with counterparties that are considered by the Bank to be of investment quality. Interest-bearing deposits include interest-bearing deposits in banks not meeting the definition of a security. Interest income on these investments is accrued as earned and recorded in interest income on the Statements of Income. Accrued interest receivable is recorded separately on the Statements of Condition. These investments are evaluated quarterly for expected credit losses. If applicable, an allowance for credit loss is recorded with a corresponding adjustment to the provision for/(reversal of) credit losses. The Bank treats securities purchased under agreements to resell as collateralized financing arrangements. A credit loss would be recognized if there is a collateral shortfall which the Bank does not believe the counterparty will replenish in accordance with its contractual terms. The credit loss would be limited to the difference between the fair value of the collateral and the investment’s amortized cost. See Note 4 – Investments for details on the allowance methodologies relating to interest-bearing deposits, securities purchased under agreements to resell, and federal funds sold. Investment Securities. The Bank classifies investments as trading, available-for-sale (AFS), or held-to-maturity (HTM) at the date of acquisition. Within these investments, the Bank is primarily subject to credit risk related to private-label residential mortgage-backed securities (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. Purchases and sales of securities are recorded on a trade date basis. The Bank classifies certain investments as trading. These securities are held for liquidity purposes and carried at fair value with changes in the fair value of these investments recorded in other income/(loss). The Bank does not participate in speculative trading practices and holds these investments indefinitely as the Bank periodically evaluates its liquidity needs. The Bank classifies certain securities as AFS and carries these securities at their fair value. Unrealized gains and losses on these securities are recognized in accumulated other comprehensive income (AOCI). HTM securities are carried at cost, adjusted for periodic principal repayments, amortization of premiums and accretion of discounts. The Bank classifies these investments as HTM securities because the Bank has the positive intent and ability to hold these securities until maturity. Certain changes in circumstances may cause the Bank to change its intent to hold a certain security to maturity without calling into question its intent to hold other debt securities to maturity in the future. Thus, the sale or transfer of an HTM security because of certain changes in circumstances, such as evidence of significant deterioration in the issuer's creditworthiness or changes in regulatory requirements, is not considered to be inconsistent with its original classification. Other events that are isolated, nonrecurring, and unusual for the Bank that could not have been reasonably anticipated may cause the Bank to sell or transfer an HTM security without calling into question its intent to hold other debt securities to maturity. In addition, sales of debt securities that meet either of the following two conditions may be considered as maturities for purposes of the classification of securities: (i) the sale occurs near enough to its maturity date (or call date if exercise of the call is probable) that interest rate risk is substantially eliminated as a pricing factor and changes in market interest rates would not have a significant effect on the security's fair value, or (ii) the sale occurs after the Bank has already collected a substantial portion (at least 85%) of the principal outstanding at acquisition because of prepayments on the debt security or scheduled payments on a debt security payable in equal installments over its term. The Bank calculates the amortization of purchase premiums and accretion of purchase discounts on investments using the level-yield method on a retrospective basis over the estimated life of the securities. This method requires a retrospective adjustment of the effective yield each time the Bank changes the estimated life as if the new estimate had been known since the original acquisition date of the securities. The Bank uses nationally recognized, market-based, third-party prepayment models to project estimated lives. On a quarterly basis, the Bank evaluates its individual AFS investment securities in an unrealized loss position for impairment. A security is considered impaired when its fair value is less than its amortized cost basis. With respect to any debt security, a credit loss is defined as the amount by which the amortized cost basis exceeds the present value of the cash flows expected to be collected. If a credit loss exists but the entity does not intend to sell the debt security and it is not more likely than not that the entity will be required to sell the debt security before the anticipated recovery of its remaining amortized cost basis (the amortized cost basis less any current-period credit loss), an allowance for credit losses is recorded with a corresponding adjustment to the provision for/(reversal of) credit losses. The allowance is limited by the amount of the unrealized loss. Accrued interest receivable is recorded separately on the Statements of Condition. If management intends to sell an impaired security classified as AFS, or more likely than not will be required to sell the security before expected recovery of its amortized cost basis, any allowance for credit losses is written off and the amortized cost basis is written down to the security’s fair value at the reporting date with any incremental impairment reported in earnings as net unrealized gain/(loss) on AFS securities. If management does not intend to sell an impaired security classified as AFS and it is not more likely than not that management will be required to sell the debt security, then the credit portion of the difference is recognized as an allowance for credit losses and any remaining difference between the security’s fair value and amortized cost is recorded to net unrealized gain/(loss) on AFS securities within other comprehensive income/(loss). On a quarterly basis, the Bank evaluates its HTM investment securities for expected credit losses on a pool basis unless an individual assessment is deemed necessary because the securities do not possess similar risk characteristics. If necessary, an allowance for credit losses is recorded with a corresponding adjustment to the provision for/(reversal of) credit losses. For improvements in impaired HTM securities with an allowance for credit losses, the allowance for credit losses associated with recoveries may be derecognized up to its full amount. Accrued interest receivable is recorded separately on the Statements of Condition. The allowance for credit losses excludes uncollectible accrued interest receivable, which is measured separately. See Note 4 – Investments for details on the allowance methodologies relating to AFS and HTM securities. To determine whether an allowance for credit loss is necessary on PLRMBS, the Bank uses cash flow analyses. 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 expected 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. Financial Instruments Meeting Netting Requirements. The Bank presents certain financial instruments, including derivative instruments and securities purchased under agreements to resell, on a net basis when they have a legal right of offset and all other requirements for netting are met (collectively referred to as the netting requirements). The Bank has elected to offset its derivative asset and liability positions, as well as cash collateral received or pledged, when the netting requirements are met. The Bank did not have any offsetting liabilities related to its securities purchased under agreements to resell for the periods presented. The net exposure for these financial instruments can change on a daily basis; therefore, there may be a delay between the time this exposure change is identified and additional collateral is requested, and the time this collateral is received or pledged. Likewise, there may be a delay for excess collateral to be returned. For derivative instruments that meet the netting requirements, any excess cash collateral received or pledged is recognized as a derivative liability or derivative asset. Additional information regarding these agreements is provided in Note 13 – Derivatives and Hedging Activities. Based on the fair value of the related collateral held, the securities purchased under agreements to resell were fully collateralized for the periods presented. Variable Interest Entities. The Bank’s investments in variable interest entities (VIEs) relate to PLRMBS. On an ongoing basis, the Bank performs a quarterly evaluation to determine whether it is the primary beneficiary in any VIE. As the Bank does not have the power to significantly affect the economic performance of these investments, the Bank determined that it is not a primary beneficiary of any of these VIEs and concluded that consolidation accounting is not required as of December 31, 2024. In addition, the Bank does not design, sponsor, transfer, service, or provide credit liquidity support in any of its investments in VIEs. The Bank’s maximum loss exposure for these investments is limited to the carrying value. Advances. The Bank reports advances (loans to members, former members or their successors, or housing associates) either at amortized cost or at fair value when the fair value option is elected. Advances carried at amortized cost are evaluated quarterly for expected credit losses and reported net of hedging adjustments. The Bank recognizes hedging adjustments resulting from the discontinuation of a hedging relationship to interest income using a level-yield methodology. Interest on advances is credited to income as earned. For advances carried at fair value, the Bank recognizes contractual interest in interest income. Accrued interest receivable is recorded separately on the Statements of Condition. The advances carried at amortized cost are evaluated quarterly for expected credit losses. If deemed necessary, an allowance for credit losses is recorded with a corresponding adjustment to the provision for/(reversal of) credit losses. See Note 5 – Advances for details on the allowance methodologies relating to advances. Advance Modifications. In cases in which the Bank funds an advance concurrent with or within a short period of time before or after the prepayment of a previous advance to the same member, at market rates, the subsequent advance is accounted for as a new advance. The Bank does not issue advances at non-market rates. If a member makes a request for a modification to an existing advance, the Bank compares the present value of the cash flows on the modified advance to the present value of the cash flows remaining on the original advance. If there is at least a 10% difference in the present value of cash flows or if the Bank concludes the difference between the advances is more than minor based on a qualitative assessment of the modifications made to the original contractual terms, then the advance is accounted for as a new advance. In all other instances, the new advance is accounted for as a modification. Modification requests with a difference in cash flows that is more than minor are not accepted by the Bank. Prepayment Fees. When a borrower prepays certain advances prior to the original maturity, the Bank may charge the borrower a prepayment fee. 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. The Bank no longer offers advances with partial prepayment symmetry. For prepaid advances that are hedged and meet the hedge accounting requirements, the Bank terminates the hedging relationship upon prepayment and records the associated fair value gains and losses, adjusted for the prepayment fees, in interest income. If a new advance represents a modification of an original hedged advance, the fair value gains or losses on the advance and the prepayment fees are included in the carrying amount of the modified advance, and gains or losses and prepayment fees are amortized in interest income over the life of the modified advance using the level-yield method. If the modified advance is also hedged and the hedge meets the hedge accounting requirements, the modified advance is marked to fair value after the modification, and subsequent fair value changes are recorded in interest income on advances. If the prepayment represents an extinguishment of the original hedged advance, the prepayment fee and any fair value gain or loss are immediately recognized in interest income. For prepaid advances that are not hedged or that are hedged but do not meet the hedge accounting requirements, the Bank records prepayment fees in interest income unless the Bank determines that the new advance represents a modification of the original advance. If the new advance represents a modification of the original advance, the prepayment fee on the original advance is deferred, recorded in the basis of the modified advance, and amortized over the life of the modified advance using the level-yield method. This amortization is recorded in interest income. Mortgage Loans Held for Portfolio. Under the Mortgage Partnership Finance® (MPF®) Program, the Bank purchased from members, for its own portfolio, conventional conforming fixed rate mortgage loans under the MPF Traditional product. After June 30, 2021, the Bank no longer directly purchases, or facilitates the purchase of, mortgage loans from our members. The Bank classifies mortgage loans as held for portfolio and, accordingly, reports them at their principal amount outstanding net of unamortized premiums, unamortized credit enhancement fees paid as a lump sum at the time loans are purchased, discounts, and unrealized gains and losses from loans initially classified as mortgage loan commitments. The Bank aggregates the mortgage loans by similar characteristics (type, maturity, interest rate, and acquisition date) in determining prepayment estimates. A retrospective adjustment is required each time the Bank changes the estimated amounts as if the new estimate had been known since the original acquisition date of the assets. The Bank uses nationally recognized, market-based, third-party prepayment models to project estimated lives. The Bank performs a quarterly assessment of its mortgage loans held for portfolio to estimate expected credit losses. An allowance for credit losses is recorded with a corresponding adjustment to the provision for/(reversal of) credit losses. The Bank measures expected credit losses on mortgage loans on a loan-level basis, factoring in the credit enhancement structure at the master commitment level. When developing the allowance for credit losses, the Bank measures the estimated loss over the remaining life of a mortgage loan, which also considers how the Bank’s credit enhancements mitigate credit losses. The Bank includes estimates of expected recoveries within the allowance for credit losses. If a loan is purchased at a discount, the discount does not offset the allowance for credit losses. Accrued interest receivable is recorded separately on the Statements of Condition. The allowance excludes uncollectible accrued interest receivable, as the Bank writes off accrued interest receivable by reversing interest income if a mortgage loan is placed on nonaccrual status. 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. The Bank places a mortgage loan on nonaccrual status when the collection of the contractual principal or interest from the participating financial institution is doubtful, when the collection of the contractual principal or interest from the participating financial institution is reported 90 days or more past due, or when the loan is in foreclosure, except when the loan is well-secured (e.g., through credit enhancements) and in the process of collection. Loans that are on nonaccrual status and that are considered collateral-dependent are measured for credit losses based on the fair value of the underlying property less estimated selling costs. Loans are considered collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be substantially through the sale of the underlying collateral; that is, if it is considered likely that the borrower will default and there is no credit enhancement to offset losses under the master commitment, or the collectability or availability of credit enhancement is deemed to be uncertain. Collateral-dependent loans are credit deteriorated if the fair value of the underlying collateral less estimated selling costs is insufficient to recover the unpaid principal balance on the loan. When a mortgage loan is placed on nonaccrual status, accrued but uncollected interest is reversed against interest income. The Bank records cash payments received on nonaccrual loans first as interest income and then as a reduction of principal as specified in the contractual agreement, unless the collection of the remaining principal amount due is considered doubtful. If the collection of the remaining principal amount due is considered doubtful, then cash payments received would be applied first solely to principal until the remaining principal amount due is expected to be collected and then as a recovery of any charge-off, if applicable, followed by recording interest income. A loan on nonaccrual status may be restored to accrual when (1) none of its contractual principal and interest is due and unpaid, and the Bank expects repayment of the remaining contractual interest and principal, or (2) it otherwise becomes well secured and in the process of collection. All loan modifications are evaluated to determine whether a modification made to a borrower results in a new loan or is a continuation of the existing loan. An MPF loan that shares similar risk characteristics with other loans is evaluated for credit losses on a collective basis. MPF loans that do not share risk characteristics with other loans are individually evaluated for credit losses. MPF loans that are identified for individual evaluation are either delinquent or classified as nonaccrual, in process of foreclosing on the collateral, or have been modified in response to a borrower’s financial difficulty. Credit loss is measured by factoring in expected cash flow shortfalls incurred as of the reporting date, as well as the economic loss attributable to delaying the original contractual principal and interest due dates, if applicable. For all mortgage loans that are more than 180 days past due and that have any outstanding balance in excess of the fair value of the property, less costs to sell, the excess is charged off at the end of the month. The Bank did not purchase mortgage loans with credit deterioration present at the time of purchase. See Note 6 – Mortgage Loans Held for Portfolio for details on the allowance methodologies relating to mortgage loans. Other Fees. Letter of credit fees are recorded as other income/(loss) over the term of the letter of credit. Derivatives and Hedging Activities. All derivatives are recognized on the Statements of Condition at their fair values, including accrued interest, net of cash collateral received from or pledged to clearing agents or counterparties, including accrued interest, and are reported as either derivative assets or derivative liabilities. The fair values of derivatives are netted by clearing agent or counterparty when the netting requirements have been met. If these netted amounts are positive, they are classified as an asset, and if negative, they are classified as a liability. Cash flows associated with derivatives are reflected as cash flows from operating activities in the Statements of Cash Flows unless the derivative meets the criteria to be a financing derivative. The Bank uses London Clearing House (LCH) Ltd for all cleared derivative transactions. The rulebook of LCH Ltd characterizes variation margin as daily settlement payments, and initial margin is considered cash collateral. Each derivative is designated as one of the following: (1) a qualifying hedge of the change in fair value of (i) a recognized asset or liability or (ii) an unrecognized firm commitment (a fair value hedge); or (2) a non-qualifying hedge of an asset or liability for asset-liability management purposes or of certain advances and consolidated obligation bonds for which the Bank elected the fair value option (an economic hedge). If hedging relationships meet certain criteria, including but not limited to formal documentation of the hedging relationship and an expectation to be hedge effective, they are eligible for hedge accounting, and the offsetting changes in fair value of the hedged items attributable to the hedged risk may be recorded in earnings. The application of hedge accounting generally requires the Bank to evaluate the effectiveness of the hedging relationships at inception and on an ongoing basis and to calculate the changes in fair value of the derivatives and the related hedged items independently. This is known as the long-haul method of hedge accounting. Derivatives are typically executed at the same time as the hedged item, and the Bank designates the hedged item in a qualifying hedge relationship as of the trade date. In many hedging relationships, the Bank may designate the hedging relationship upon its commitment to disburse an advance or trade a consolidated obligation in which settlement occurs within the shortest period of time possible for the type of instrument based on market settlement conventions. The Bank records the changes in the fair value of the derivatives and the hedged item beginning on the trade date. Changes in the fair value of a derivative that is designated as a fair value hedge, along with changes in the fair value of the hedged asset or liability (hedged item) that are attributable to the hedged risk (including changes that reflect gains or losses on firm commitments), are recorded in net interest income in the same line as the earnings effect of the hedged item. Net gains and losses on derivatives and hedging activities for qualifying hedges recorded in net interest income include unrealized and realized gains and losses, which include net interest settlements. For AFS securities that have been hedged and qualify as a fair value hedge, the Bank records the portion of the change in the fair value of the investment related to the risk being hedged in interest income together with the related change in the fair value of the derivative, and records the remainder of the change in the fair value of the investment in Accumulated Other Comprehensive Income (AOCI) as “Net unrealized gain/(loss) on AFS securities.” The Bank hedges the benchmark risk component of cash flows in a fair value hedge. Changes in the fair value of a derivative designated as an economic hedge are recorded in current period earnings with no fair value adjustment to an asset or liability. An economic hedge is defined as a derivative hedging certain advances and consolidated obligation bonds for which the Bank elected the fair value option, or hedging specific or non-specific underlying assets, liabilities, or firm commitments, that does not qualify or was not designated for fair value hedge accounting, but is an acceptable hedging strategy under the Bank's risk management program. These economic hedging strategies also comply with Finance Agency regulatory requirements prohibiting speculative hedge transactions. An economic hedge introduces the potential for earnings variability caused by the changes in fair value of the derivatives that are recorded in the Bank's income but are not offset by corresponding changes in the value of the economically hedged assets, liabilities, or firm commitments. Changes in the fair value of these non-qualifying hedges are recorded in other income/(loss) as “Net gain/(loss) on derivatives.” In addition, the net interest settlements associated with these non-qualifying hedges are recorded in other income/(loss) as “Net gain/(loss) on derivatives.” Cash flows associated with these stand-alone derivatives are reflected as cash flows from operating activities in the Statements of Cash Flows unless the derivative meets the criteria to be designated as a financing derivative. The Bank discontinues hedge accounting prospectively when: (i) it determines that the derivative is no longer highly effective in offsetting changes in the fair value of a hedged item (including hedged items such as firm commitments or forecasted transactions); (ii) the derivative or the hedged item expires or is sold, terminated, or exercised; (iii) it is no longer probable that the forecasted transaction will occur in the originally expected period; (iv) a hedged firm commitment no longer meets the definition of a firm commitment; (v) it determines that designating the derivative as a hedging instrument is no longer appropriate; (vi) a critical term on the hedged item changes; or (vii) it decides to use the derivative to offset changes in the fair value of other derivatives or instruments carried at fair value. When hedge accounting is discontinued, the Bank either terminates the derivative or continues to carry the derivative on the Statements of Condition at its fair value, ceases to adjust the hedged asset or liability for changes in fair value, and amortizes the cumulative basis adjustment on the hedged item into earnings over the remaining life of the hedged item using a level-yield methodology. When hedge accounting is discontinued because the hedged item no longer meets the definition of a firm commitment, the Bank continues to carry the derivative on the Statements of Condition at its fair value, removing from the Statements of Condition any asset or liability that was recorded to recognize the firm commitment and recording it as a gain or loss in current period earnings. The Bank may be the primary obligor on consolidated obligations and may make advances in which derivative instruments are embedded. Upon execution of these transactions, the Bank assesses whether the economic characteristics of the embedded derivative are clearly and closely related to the economic characteristics of the remaining component of the advance or debt (the host contract) and whether a separate, non-embedded instrument with the same terms as the embedded instrument would meet the definition of a derivative instrument. When it is determined that: (i) the embedded derivative has economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, and (ii) a separate, stand-alone instrument with the same terms would qualify as a derivative instrument, the embedded derivative is separated from the host contract, carried at fair value, and designated as a stand-alone derivative instrument equivalent to an economic hedge. However, the entire contract is carried on the Statements of Condition at fair value and no portion of the contract is designated as a hedging instrument if the entire contract (the host contract and the embedded derivative) is to be measured at fair value, with changes in fair value reported in current period earnings (such as an investment security classified as trading, as well as hybrid financial instruments that are eligible for the fair value option), or if the Bank cannot reliably identify and measure the embedded derivative for purposes of separating the derivative from its host contract. Premises, Software, and Equipment . Premises, software, and equipment are included in other assets on the Statements of Condition. The Bank records premises, software, and equipment at cost less accumulated depreciation and amortization. At December 31, 2024 and 2023, premises, software, and equipment were $22 million and $26 million, respectively, which was net of accumulated depreciation and amortization of $81 million and $76 million, respectively. Improvements and major renewals are capitalized; ordinary maintenance and repairs are expensed as incurred. Depreciation is computed on the straight-line method over the estimated useful lives of assets ranging from 3 to 10 years, and leasehold improvements are amortized on the straight-line method over the estimated useful life of the improvement or the remaining term of the lease, whichever is shorter. Depreciation and amortization expense was $5 million for 2024, $5 million for 2023, and $6 million for 2022. Consolidated Obligations. Consolidated obligations are recorded at amortized cost unless the Bank has elected the fair value option, in which case the consolidated obligations are carried at fair value. Consolidated obligations, consisting of bonds and discount notes, are jointly issued by the FHLBanks through the Office of Finance, which serves as the FHLBanks’ agent. As provided by the Federal Home Loan Bank A

Recently Issued and Adopted Acc

Recently Issued and Adopted Accounting Guidance	12 Months Ended
	Dec. 31, 2024
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 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07) This guidance improves reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses, including if an entity only has a single reportable segment. This guidance became effective for the Bank for the annual period ended December 31, 2024, and for interim and annual periods thereafter. The adoption of this guidance did not have any effect on the Bank’s financial condition, results of operations, or cash flows, and did not have a material effect on the Bank’s disclosures. Disaggregation of Income Statement Expenses (ASU 2024-03) This update requires disclosure, in the notes to the financial statements, of specified information about certain costs and expenses on an interim and annual basis. This guidance becomes effective for the Bank for the annual period ending December 31, 2027, and for interim and annual periods thereafter. Early adoption is permitted. The Bank does not intend to adopt this guidance early. The adoption of this guidance may affect the Bank’s disclosures but it will not have any effect on the Bank’s financial condition, results of operations, or cash flows.

Cash and Due from Banks

Cash and Due from Banks	12 Months Ended
	Dec. 31, 2024
Cash and Due from Banks [Abstract]
Cash and Due from Banks	Note 3 — Cash and Due from Banks Cash on hand, cash items in the process of collection, and amounts due from correspondent banks and the Federal Reserve Bank are included in Cash and due from banks on the Statements of Condition. Cash and due from banks includes certain compensating balances, where the Bank maintains collected cash balances with commercial banks in consideration for certain services. There are no legal restrictions under these agreements on the withdrawal of these funds. The average collected cash balances were approximately $7 million for 2024 and $10 million for 2023.

Investments (Notes)

Investments (Notes)	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Available-for-Sale Securities	Note 4 — 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. 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 December 31, 2024 and 2023, 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 December 31, 2024 and 2023. Carrying values of interest-bearing deposits and federal funds sold exclude accrued interest receivable of $15 million and a de minimis amount, respectively, as of December 31, 2024, and $16 million and $2 million, respectively, as of December 31, 2023. 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 December 31, 2024 and 2023. The carrying value of securities purchased under agreements to resell excludes $1 million and $2 million of accrued interest receivable as of December 31, 2024 and 2023, respectively. Debt Securities Available-for-Sale Securities. The amortized cost and fair value of AFS securities by major security type as of December 31, 2024 and 2023, were as follows: December 31, 2024 (In millions) Amortized Cost (1) Allowance for Credit Losses Gross Gross Estimated Fair Value U.S. Treasury obligations $ 6,506 $ — $ 4 $ — $ 6,510 MBS: Government Sponsored Enterprises (GSEs) – multifamily 12,790 — 62 (7) 12,845 PLRMBS 978 (30) 31 (22) 957 Total MBS 13,768 (30) 93 (29) 13,802 Total $ 20,274 $ (30) $ 97 $ (29) $ 20,312 December 31, 2023 (In millions) Amortized Cost (1) Allowance for Credit Losses Gross Gross Estimated Fair Value U.S. Treasury obligations $ 4,530 $ — $ 4 $ — $ 4,534 MBS: GSEs – multifamily 12,500 — 4 (83) 12,421 PLRMBS 1,075 (31) 35 (20) 1,059 Total MBS 13,575 (31) 39 (103) 13,480 Total $ 18,105 $ (31) $ 43 $ (103) $ 18,014 (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 December 31, 2024, the amortized cost of the Bank’s MBS classified as AFS included premiums of $51 million, discounts of $175 million, and previous credit losses related to the prior methodology of evaluating credit losses of $293 million for PLRMBS. At December 31, 2023, the amortized cost of the Bank’s MBS classified as AFS included premiums of $58 million, discounts of $191 million, and previous credit losses related to the prior methodology of evaluating credit losses of $312 million for PLRMBS. The following tables summarize the AFS securities with unrealized losses as of December 31, 2024 and 2023. 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. December 31, 2024 Less Than 12 Months 12 Months or More Total (In millions) Estimated Gross Unrealized Estimated Gross Unrealized Estimated Gross Unrealized MBS – GSEs – multifamily $ 1,350 $ 3 $ 668 $ 4 $ 2,018 $ 7 PLRMBS 62 3 244 19 306 22 Total $ 1,412 $ 6 $ 912 $ 23 $ 2,324 $ 29 December 31, 2023 Less Than 12 Months 12 Months or More Total (In millions) Estimated Gross Estimated Gross Unrealized Estimated Gross Unrealized MBS – GSEs – multifamily $ 7,517 $ 45 $ 3,525 $ 38 $ 11,042 $ 83 PLRMBS 30 1 283 19 313 20 Total $ 7,547 $ 46 $ 3,808 $ 57 $ 11,355 $ 103 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 December 31, 2024 and 2023, 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. December 31, 2024 (In millions) Year of Contractual Maturity Amortized Estimated U.S. Treasury obligations: Due in 1 year or less $ 3,181 $ 3,183 Due after 1 year through 5 years 3,325 3,327 Total U.S. Treasury obligations $ 6,506 $ 6,510 MBS 13,768 13,802 Total $ 20,274 $ 20,312 December 31, 2023 (In millions) Year of Contractual Maturity Amortized Estimated U.S. Treasury obligations: Due in 1 year or less $ 145 $ 145 Due after 1 year through 5 years 4,385 4,389 Total U.S. Treasury obligations 4,530 4,534 MBS 13,575 13,480 Total $ 18,105 $ 18,014 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: December 31, 2024 (In millions) Amortized Cost (1) Gross Unrecognized Holding Gains (2) Gross Unrecognized Holding Losses (2) Estimated MBS – Other U.S. obligations – single-family $ 29 $ — $ (1) $ 28 MBS – GSEs: MBS – GSEs – single-family 495 2 (13) 484 MBS – GSEs – multifamily 864 — (2) 862 Subtotal MBS – GSEs 1,359 2 (15) 1,346 PLRMBS 101 — (6) 95 Total $ 1,489 $ 2 $ (22) $ 1,469 December 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 $ 49 $ — $ (1) $ 48 MBS – GSEs: MBS – GSEs – single-family 605 1 (16) 590 MBS – GSEs – multifamily 1,069 — (5) 1,064 Subtotal MBS – GSEs 1,674 1 (21) 1,654 PLRMBS 124 — (8) 116 Total $ 1,847 $ 1 $ (30) $ 1,818 (1) Amortized cost includes unpaid principal balance, unamortized premiums and discounts, and net charge-offs, and excludes accrued interest receivable of $5 million and $6 million at December 31, 2024 and 2023, 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 December 31, 2024, the amortized cost of the Bank’s MBS classified as HTM included premiums of $2 million and discounts of $2 million. At December 31, 2023, the amortized cost of the Bank’s MBS classified as HTM included premiums of $2 million and discounts of $3 million. Allowance for Credit Losses on AFS and HTM Securities. The following table presents a rollforward of the allowance for credit losses on PLRMBS classified as AFS for the years ended December 31, 2024, 2023, and 2022. The Bank recorded no allowance for credit losses associated with HTM securities during the years ended December 31, 2024, 2023, and 2022. (In millions) 2024 2023 2022 Balance, beginning of the period $ 31 $ 30 $ 17 (Charge-offs)/recoveries (1) (3) (2) Provision for/(reversal of) credit losses — 4 15 Balance, end of the period $ 30 $ 31 $ 30 To evaluate investment securities for expected credit loss at December 31, 2024 and 2023, 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 December 31, 2024 and 2023, substantially all of AFS securities and HTM securities, based on amortized cost, were rated A, or above, by a Nationally Recognized Statistical Rating Organization (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 December 31, 2024 and 2023, certain of the Bank’s AFS and HTM 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 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 securities: (i) were all highly rated or had short remaining terms to maturity; (ii) had not experienced, nor did the Bank expect, any payment defaults 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 Bank considers the risk of nonpayment to be zero. As a result, no allowance for credit losses was recorded on these AFS or HTM securities at December 31, 2024 and 2023. 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 December 31, 2024 and 2023, approximately 3% and 4%, respectively, of 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 information on the cash flow analyses, see “Item 8. Financial Statements and Supplementary Data – Note 1 – Summary of Significant Accounting Policies.” 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 credit loss amount for PLRMBS classified as Level 3 as of December 31, 2024, uses significant inputs and assumptions that include, based on unpaid principal balance, the weighted average percentage of prepayment rates of 9.1%; default rates of 6.2%; and loss severities of 63.7%. The weighted average percentage of the related current credit enhancement for these securities, based on unpaid principal balance, was 8.5% as of December 31, 2024. 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. 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. There were no transfers of PLRMBS from the Bank’s HTM portfolio to its AFS portfolio during the year ended December 31, 2024. The Bank transferred PLRMBS from its HTM portfolio to its AFS portfolio with an amortized cost and fair value at the time of the transfer of $2 million during the year ended December 31, 2023, and with an amortized cost of $17 million and fair value of $20 million at the time of transfer during the year ended December 31, 2022. For the Bank’s PLRMBS, the Bank recorded a de minimis provision for credit losses during the year ended December 31, 2024. The Bank recorded a provision for credit losses of $4 million during the year ended December 31, 2023. The provisions recorded in 2024 and 2023 were largely because of declines in the fair values on its PLRMBS, the present value of expected cash flows of certain PLRMBS, and decreased expectations of the performance of loan collateral underlying these securities. The Bank recorded a provision for credit losses of $15 million during the year ended December 31, 2022, largely because of declines in the fair values on its PLRMBS, the present value of expected cash flows of certain PLRMBS affected by higher interest rates, and decreased expectations of the performance of loan collateral underlying these securities. 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 $12 million, $34 million, and $55 million for the years ended December 31, 2024, 2023, and 2022, respectively.

Advances

Advances	12 Months Ended
	Dec. 31, 2024
Federal Home Loan Banks [Abstract]
Advances	Note 5 — 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 one year to 15 years, with the interest rates resetting periodically at a fixed spread to a specified index. Redemption Terms. The following table presents advances outstanding by redemption term and weighted-average interest rate at December 31, 2024 and 2023. (Dollars in millions) 2024 2023 Redemption Term Amount Outstanding (1) Weighted Amount Outstanding (1) Weighted Overdrawn demand and overnight deposit accounts $ — — % $ 2 5.15 % Within 1 year (2) 23,712 4.30 35,241 4.87 After 1 year through 2 years 11,067 3.81 12,532 3.88 After 2 years through 3 years 4,526 3.97 6,437 3.23 After 3 years through 4 years 3,264 4.13 2,548 3.62 After 4 years through 5 years 865 3.76 3,660 4.07 After 5 years 2,384 3.68 1,290 3.71 Total par value 45,818 4.09 % 61,710 4.38 % Valuation adjustments for hedging activities (198) (371) Valuation adjustments under fair value option 17 (4) Total $ 45,637 $ 61,335 (1) Carrying amounts exclude accrued interest receivable of $63 million and $85 million at December 31, 2024 and 2023, respectively. (2) Advances outstanding with redemption terms within three months totaled $15.1 billion and $16.8 billion at December 31, 2024 and 2023, respectively. All of the Bank’s advances are prepayable at the borrower’s option. However, when advances are prepaid, the borrower is 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. The Bank no longer offers advances with partial prepayment symmetry. The Bank had advances with full prepayment symmetry outstanding totaling $29.4 billion at December 31, 2024, and $39.8 billion at December 31, 2023. The Bank had advances with partial prepayment symmetry outstanding totaling $142 million at December 31, 2024, and $209 million at December 31, 2023. Some advances may be repaid on specified call dates without prepayment fees (callable advances). The Bank had callable advances outstanding totaling $2.7 billion at December 31, 2024, and $3.3 billion at December 31, 2023. The Bank had putable advances totaling $4.6 billion at December 31, 2024, and $1.4 billion at December 31, 2023. 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 December 31, 2024 and 2023, 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) 2024 2023 2024 2023 Overdrawn demand and overnight deposit accounts $ — $ 2 $ — $ 2 Within 1 year 26,023 35,561 27,676 36,115 After 1 year through 2 years 9,066 12,542 10,646 13,000 After 2 years through 3 years 4,526 6,437 3,487 6,149 After 3 years through 4 years 3,264 2,558 2,886 2,551 After 4 years through 5 years 855 3,660 398 2,917 After 5 years 2,084 950 725 976 Total par value $ 45,818 $ 61,710 $ 45,818 $ 61,710 Concentration Risk. The following tables present the concentration in advances to the top 10 borrowers and their affiliates at December 31, 2024 and 2023. The tables also present the interest income from these advances before the impact of interest rate exchange agreements hedging these advances for the years ended December 31, 2024 and 2023. December 31, 2024 (Dollars in millions) Name of Borrower Advances Percentage of Interest (1) Percentage of JPMorgan Chase, National Association (2) $ 9,315 20 % $ 731 33 % Western Alliance Bank 5,100 11 205 9 East West Bank 3,500 8 147 7 First Technology Federal Credit Union (3) 2,907 6 83 4 U.S. Bank, National Association (4) 2,050 5 47 2 SchoolsFirst Federal Credit Union 1,600 3 77 3 First Foundation Bank (5) 1,400 3 53 2 Bank of America California, National Association 1,150 3 72 3 Wescom Central Credit Union 1,140 3 52 2 Banc of California, National Association 1,100 2 24 1 Subtotal 29,262 64 1,491 66 Others 16,556 36 754 34 Total par value $ 45,818 100 % $ 2,245 100 % December 31, 2023 (Dollars in millions) Name of Borrower Advances Percentage of Interest (1) Percentage of JPMorgan Chase, National Association (2) $ 23,833 39 % $ 1,018 31 % Western Alliance Bank 6,200 10 199 6 City National Bank 3,000 5 353 11 First Technology Federal Credit Union (3) 2,414 4 132 4 U.S. Bank, National Association (4) 2,052 3 153 5 SchoolsFirst Federal Credit Union 1,823 3 48 1 Bank of America California, National Association 1,450 2 68 2 Luther Burbank Savings (3)(6) 1,152 2 44 1 Wells Fargo National Bank West 1,000 2 78 2 First Foundation Bank 900 1 46 1 Subtotal 43,824 71 2,139 64 Others 17,886 29 1,187 36 Total par value $ 61,710 100 % $ 3,326 100 % (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) A nonmember. On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) closed First Republic Bank and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. On the same date, the FDIC transferred all of the deposits and substantially all of the assets of First Republic Bank, including $28.1 billion in advances outstanding from the Bank, to JPMorgan Chase, National Association, a nonmember. These advances outstanding are fully collateralized and are not expected to result in any credit loss to the Bank. (3) An officer or director of the member was a Bank director during 2024 and 2023. (4) A nonmember. On December 1, 2022, U.S. Bancorp, a nonmember (the parent company of U.S. Bank, National Association), announced that it completed its acquisition of MUFG Union Bank, National Association. (5) An officer or director of the member was a Bank director during 2024. (6) On February 29, 2024, Washington Federal Bank, a nonmember, announced it completed its acquisition of Luther Burbank Savings. On the same date, Washington Federal Bank assumed all of the assets and liabilities of Luther Burbank Savings, including $1.2 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. Credit Risk Exposure and Security Terms. The Bank manages its credit exposure related to advances through an integrated approach that 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. 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’s 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 December 31, 2024 and 2023, 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 December 31, 2024 and 2023, 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 years ended December 31, 2024 and 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 December 31, 2024, 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 December 31, 2024 and 2023. Interest Rate Payment Terms. Interest rate payment terms for advances at December 31, 2024 and 2023, are detailed below: (In millions) 2024 2023 Par value of advances: Fixed rate: Due within 1 year $ 15,218 $ 23,866 Due after 1 year 20,101 26,467 Total fixed rate 35,319 50,333 Adjustable rate: Due within 1 year 8,494 11,377 Due after 1 year 2,005 — Total adjustable rate 10,499 11,377 Total par value $ 45,818 $ 61,710

Mortgage Loans Held for Portfol

Mortgage Loans Held for Portfolio	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Mortgage Loans Held for Portfolio	Note 6 — Mortgage Loans Held for Portfolio Mortgage loans held for portfolio consist of single-family mortgage loans purchased from participating financial institutions under the MPF program. The following table presents information as of December 31, 2024 and 2023, on mortgage loans held for portfolio, all of which are secured by one- to four-unit residential properties and single-unit homes. (In millions) 2024 2023 Fixed rate medium-term mortgage loans (1) $ 10 $ 12 Fixed rate long-term mortgage loans (1) 648 704 Subtotal 658 716 Unamortized premiums 37 41 Unamortized discounts (1) (2) Mortgage loans held for portfolio (2) 694 755 Less: Allowance for credit losses (1) (1) Total mortgage loans held for portfolio, net $ 693 $ 754 (1) Medium-term loans have original contractual terms of 15 years or less, and long-term loans have contractual terms of more than 15 years. (2) Excludes accrued interest receivable of $5 million at December 31, 2024 and 2023. 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 table presents the payment status for mortgage loans and other delinquency statistics for the Bank’s mortgage loans at December 31, 2024 and 2023. (Dollars in millions) Payment Status, at Amortized Cost (1) 2024 2023 30 – 59 days delinquent $ 8 $ 5 60 – 89 days delinquent 2 4 90 days or more delinquent 17 16 Total past due 27 25 Total current loans 667 730 Total mortgage loans held for portfolio $ 694 $ 755 In process of foreclosure, included above (2) $ 1 $ 2 Nonaccrual loans (3) $ 17 $ 16 Serious delinquencies as a percentage of total mortgage loans outstanding (4) 2.48 % 2.17 % (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 December 31, 2024 and 2023, $5 million 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. At both December 31, 2024 and 2023, 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 years ended December 31, 2024, 2023, and 2022. For more information related to the Bank’s accounting policies for mortgage loans held for portfolio, see “Note 1 – Summary of Significant Accounting Policies.”

Deposits

Deposits	12 Months Ended
	Dec. 31, 2024
Deposits [Abstract]
Deposits	Note 7 — 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. 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 outstanding as of December 31, 2024 and 2023, were as follows: (In millions) 2024 2023 Demand and overnight interest-bearing deposits $ 1,055 $ 957 Non-interest-bearing deposits 6 5 Total $ 1,061 $ 962

Consolidated Obligations

Consolidated Obligations	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Consolidated Obligations	Note 8 — Consolidated Obligations General Terms. Consolidated obligation bonds are generally issued with either fixed rate payment terms or adjustable rate payment terms. In addition, to meet the specific needs of certain investors, fixed rate and adjustable rate consolidated obligation bonds may contain certain embedded features, such as call options and complex coupon payment terms. In general, when such consolidated obligation bonds are issued for which the Bank is the primary obligor, the Bank simultaneously enters into interest rate exchange agreements containing offsetting features to, in effect, convert the terms of the bond to the terms of a simple adjustable rate bond. In addition to having fixed rate or simple adjustable rate coupon payment terms, consolidated obligations may, for example, include: • Callable bonds, which the Bank may call at its option on predetermined call dates according to the terms of the bond offerings; • Step-up callable bonds, which pay interest at increasing fixed rates for specified intervals over the life of the bond and can generally be called at the Bank’s option on the step-up dates according to the terms of the bond offerings; • Step-down callable bonds, which pay interest at decreasing fixed rates for specified intervals over the life of the bond and can generally be called at the Bank’s option on the step-down dates according to the terms of the bond offerings; • Conversion callable bonds, which have coupon rates that convert from fixed to adjustable or from adjustable to fixed on predetermined dates and can generally be called at the Bank’s option on predetermined call dates according to the terms of the bond offerings. Redemption Terms. The following is a summary of the Bank’s participation in consolidated obligation bonds at December 31, 2024 and 2023. (Dollars in millions) 2024 2023 Contractual Maturity Amount Weighted Amount Weighted Within 1 year $ 39,657 4.40 % $ 42,821 4.84 % After 1 year through 2 years 12,005 2.96 13,105 4.70 After 2 years through 3 years 1,920 2.62 5,938 1.34 After 3 years through 4 years 1,487 3.50 1,345 1.75 After 4 years through 5 years 2,706 4.35 942 2.98 After 5 years 777 2.76 826 2.35 Total par value 58,552 4.00 % 64,977 4.37 % Unamortized discounts (1) (6) Valuation adjustments for hedging activities (363) (645) Fair value option valuation adjustments (14) (29) Total $ 58,174 $ 64,297 The Bank’s participation in consolidated obligation bonds outstanding includes callable bonds. 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 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 December 31, 2024 and 2023, was as follows: (In millions) 2024 2023 Par value of consolidated obligation bonds: Non-callable $ 40,207 $ 38,945 Callable 18,345 26,032 Total par value $ 58,552 $ 64,977 The following is a summary of the Bank’s participation in consolidated obligation bonds outstanding at December 31, 2024 and 2023, by the earlier of the year of contractual maturity or next call date. (In millions) Earlier of Contractual 2024 2023 Within 1 year $ 49,795 $ 55,291 After 1 year through 2 years 7,608 9,160 After 2 years through 3 years 1,101 378 After 3 years through 4 years 12 100 After 4 years through 5 years 9 12 After 5 years 27 36 Total par value $ 58,552 $ 64,977 The Bank’s participation in consolidated obligation discount notes, all of which are due within one year, was as follows: (Dollars in millions) Carrying Value Par Value Weighted Average Interest Rate (1) December 31, 2024 $ 14,378 $ 14,460 4.41 % December 31, 2023 $ 19,187 $ 19,321 5.23 % (1) Represents yield to maturity excluding concession fees. Interest Rate Payment Terms. Interest rate payment terms for consolidated obligation bonds at December 31, 2024 and 2023, are detailed in the following table. (In millions) 2024 2023 Par value of consolidated obligation bonds: Fixed rate $ 23,410 $ 37,464 Adjustable rate 34,692 26,880 Step-up 450 633 Total consolidated obligation bonds, par value $ 58,552 $ 64,977

Affordable Housing Program

Affordable Housing Program	12 Months Ended
	Dec. 31, 2024
Federal Home Loan Banks [Abstract]
Affordable Housing Program	Note 9 — Affordable Housing Program The FHLBank Act requires each FHLBank to establish an AHP. Each FHLBank provides subsidies to members, which use the funds to assist in the purchase, construction, or rehabilitation of housing for households earning up to 80% of the median income for the area in which they live. Subsidies may be in the form of direct grants or below-market interest rate advances. Annually, the FHLBanks must set aside for their AHPs, in the aggregate, the greater of $100 million or 10% of the current year's net earnings (income before interest expense related to dividends paid on mandatorily redeemable capital stock and the assessment for AHP). The Bank accrues its AHP assessment monthly based on its net earnings. If the Bank experienced a net loss during a quarter but still had net earnings for the year, the Bank’s obligation to the AHP would be calculated based on the Bank’s year-to-date net earnings. If the Bank had net earnings in subsequent quarters, it would be required to contribute additional amounts to meet its calculated annual obligation. If the Bank experienced a net loss for a full year, the amount of the AHP liability would be equal to zero, since each FHLBank’s required annual AHP contribution is limited to its annual net earnings. However, if the result of the aggregate 10% calculation is less than $100 million for the FHLBanks combined, then the FHLBank Act requires that each FHLBank contribute such prorated sums as may be required to ensure that the aggregate contribution of the FHLBanks equals $100 million. The proration would be made on the basis of an FHLBank’s income in relation to the income of all the FHLBanks for the previous year. There was no AHP shortfall, as described above, in 2024, 2023, or 2022. If an FHLBank finds that its required AHP assessments are contributing to the financial instability of that FHLBank, it may apply to the Finance Agency for a temporary suspension of its contributions. The Bank did not make such an application in 2024, 2023, or 2022. The Bank’s total AHP assessments are charged to earnings each year and recognized as a liability. As subsidies are disbursed, the AHP liability is reduced. The AHP liability was as follows: (In millions) 2024 2023 2022 Balance, beginning of the period $ 133 $ 111 $ 115 AHP assessments 52 63 36 AHP voluntary contributions 9 — — AHP grant payments (54) (41) (40) Balance, end of the period $ 140 $ 133 $ 111 All subsidies were distributed in the form of direct grants in 2024, 2023, and 2022. Voluntary contributions to support other housing and community investments (non-AHP) are recorded on the Combined Statements of Income. The following table presents a rollforward of the voluntary contribution liability balance (non-AHP): (In millions) 2024 2023 2022 Balance, beginning of the period $ — $ — $ — Voluntary housing and community investment contributions, net of AHP voluntary contributions 32 16 3 Voluntary housing and community investment payments (32) (16) (3) Balance, end of the period $ — $ — $ —

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income/(Loss)	Note 10 — Accumulated Other Comprehensive Income/(Loss) The following table summarizes the changes in AOCI for the years ended December 31, 2024, 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 pension and postretirement benefits (6) (6) Net change in fair value (354) (354) Net current period other comprehensive income/(loss) (354) (6) (360) Balance, December 31, 2022 $ (14) $ (15) $ (29) Other comprehensive income/(loss): Net change in pension and postretirement benefits 4 4 Net change in fair value (47) (47) Net current period other comprehensive income/(loss) (47) 4 (43) Balance, December 31, 2023 $ (61) $ (11) $ (72) Other comprehensive income/(loss): Net change in pension and postretirement benefits 6 6 Net change in fair value 129 129 Net current period other comprehensive income/(loss) 129 6 135 Balance, December 31, 2024 $ 68 $ (5) $ 63

Capital

Capital	12 Months Ended
	Dec. 31, 2024
Banking Regulation, Total Capital [Abstract]
Capital	Note 11 — Capital Capital Requirements. The Bank issues a single class of capital stock, Class B stock, with a par value of $100 per share, which may be redeemed (subject to certain conditions) upon five years' notice by the member to the Bank. In addition, at its discretion, under certain conditions, the Bank may repurchase excess stock at any time (see “Excess Stock” below for more information). The Bank’s capital stock may be issued, redeemed, and repurchased only at its stated par value, subject to certain statutory and regulatory requirements. The Bank may only redeem or repurchase capital stock from a shareholder if, following the redemption or repurchase, the shareholder will continue to meet its minimum capital stock requirement and the Bank will continue to meet its regulatory requirements for total capital, leverage capital, and risk-based capital. Under the Housing and Economic Recovery Act of 2008, the Director of the Finance Agency is responsible for setting the risk-based capital standards for the FHLBanks. 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. The Bank must maintain: (i) total regulatory capital in an amount equal to at least 4% of its total assets, (ii) leverage capital in an amount equal to at least 5% of its total assets, and (iii) permanent capital in an amount that is greater than or equal to its risk-based capital requirement. The Finance Agency requires each FHLBank to maintain a ratio of at least 2% of capital stock to total assets in order to help preserve the cooperative structure incentives that encourage members to remain fully engaged in the oversight of their investment in the FHLBank. The Finance Agency will consider the proportion of capital stock to assets, measured on a daily average basis at monthend, when assessing each FHLBank’s capital management practices. As of December 31, 2024 and 2023, the Bank complied with this capital guidance. Because the Bank issues only Class B stock, regulatory capital and permanent capital for the Bank are both composed of retained earnings and Class B stock, including mandatorily redeemable capital stock (which is classified as a liability for financial reporting purposes). Regulatory capital and permanent capital do not include AOCI. Leverage capital is defined as the sum of permanent capital, weighted by a 1.5 multiplier, plus non-permanent capital. The risk-based capital requirement is equal to the sum of the Bank’s credit risk, market risk, and operational risk capital requirements, all of which are calculated in accordance with the rules and regulations of the Finance Agency. The Finance Agency may require an FHLBank to maintain a greater amount of permanent capital than is required by the risk-based capital requirement as defined. As of December 31, 2024 and 2023, the Bank complied with these capital rules and requirements as shown in the following table. 2024 2023 (Dollars in millions) Required Actual Required Actual Risk-based capital $ 1,058 $ 7,272 $ 1,210 $ 7,446 Total regulatory capital $ 3,269 $ 7,272 $ 3,713 $ 7,446 Total regulatory capital ratio 4.00 % 8.90 % 4.00 % 8.02 % Leverage capital $ 4,087 $ 10,908 $ 4,641 $ 11,169 Leverage ratio 5.00 % 13.35 % 5.00 % 12.03 % The Bank’s capital plan requires each shareholder 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 (Board) and the Finance Agency. A member's membership capital stock requirement is 1% of its membership asset value. The membership capital stock requirement for a member is capped at $15 million. The Bank may adjust the membership capital stock requirement for all members within a range of 0.5% to 1.5% of a member's membership asset value and may adjust the cap for all members within an authorized range of $10 million to $50 million. A member's membership asset value is determined by multiplying the amount of the member's membership assets by the applicable membership asset factors as determined by the Bank. Membership assets are generally defined as assets (other than Bank capital stock) of a type that could qualify as collateral to secure a member's indebtedness to the Bank under applicable law, whether or not the assets are pledged to the Bank or accepted by the Bank as eligible collateral. The activity-based capital stock requirement is the sum of 2.7% of the member's outstanding advances, plus 0.1% of notional balances for outstanding letters of credit, plus 0.0% of any portion of any mortgage loan purchased and held by the Bank. The Bank may adjust the activity-based capital stock requirement for all members within ranges established in the capital plan of 2.0% to 5.0% of the member's outstanding advances, 0.1% to 1.0% of the member’s notional balances of outstanding letters of credit, and 0.0% to 5.0% of any portion of any mortgage loan purchased and held by the Bank. Any member may withdraw from membership and, subject to certain statutory and regulatory restrictions, have its capital stock redeemed after giving the required notice. Members that withdraw from membership may not reapply for membership for five years, in accordance with Finance Agency rules. Mandatorily Redeemable Capital Stock. The Bank has a cooperative ownership structure under which members, former members, and certain other nonmembers own the Bank’s capital stock. Former members and certain other nonmembers are required to maintain their investment in the Bank's capital stock until their outstanding transactions are paid off or until their capital stock is redeemed following the relevant five-year redemption period for capital stock or is repurchased by the Bank, in accordance with the Bank's capital requirements. Capital stock cannot be issued, repurchased, redeemed, or transferred except between the Bank and its members (or their affiliates and successors) at the capital stock's par value of $100 per share. The Bank will not redeem or repurchase capital stock required to meet the minimum capital stock requirement until five years after the member's membership is terminated or after the Bank receives notice of the member's withdrawal, and the Bank will redeem or repurchase only the amounts that are in excess of the capital stock required to support activity (advances and letters of credit) that may remain outstanding after the five-year redemption period has expired. In both cases, the Bank will only redeem or repurchase capital stock if certain statutory and regulatory conditions are met. In accordance with the Bank’s current practice, if activity-based capital stock becomes excess stock because an activity no longer remains outstanding, the Bank may repurchase the excess activity-based capital stock at its discretion, subject to certain statutory and regulatory conditions. See Note 1 – Summary of Significant Accounting Policies for more information. The Bank had mandatorily redeemable capital stock totaling $331 million outstanding to seven institutions at December 31, 2024, and $706 million outstanding to six institutions at December 31, 2023. These amounts have been classified as a liability on the Bank’s Statements of Condition. The changes in mandatorily redeemable capital stock for the years ended December 31, 2024, 2023, and 2022, were as follows: (In millions) 2024 2023 2022 Balance at the beginning of the period $ 706 $ 5 $ 3 Reclassified from/(to) capital during the period 36 1,252 46 Repurchase/redemption (411) (551) (44) Balance at the end of the period $ 331 $ 706 $ 5 The following table presents mandatorily redeemable capital stock amounts by contractual year of redemption at December 31, 2024 and 2023. (In millions) Contractual Year of Redemption 2024 2023 Year 2 $ 1 $ — Year 3 3 1 Year 4 309 2 Year 5 18 702 Past contractual redemption date because of remaining activity (1) — 1 Total $ 331 $ 706 (1) Represents mandatorily redeemable capital stock that is past the end of the contractual redemption period because there is activity outstanding to which the mandatorily redeemable capital stock relates. A member may cancel its notice of redemption or notice of withdrawal from membership by providing written notice to the Bank prior to the end of the relevant five-year redemption period or the membership termination date. If the Bank receives the notice of cancellation within 30 months following the notice of redemption or notice of withdrawal, the member is charged a fee equal to fifty cents multiplied by the number of shares of capital stock affected. If the Bank receives the notice of cancellation more than 30 months following the notice of redemption or notice of withdrawal (or if the Bank does not redeem the member's capital stock because following the redemption the member would fail to meet its minimum capital stock requirement), the member is charged a fee equal to one dollar multiplied by the number of shares of capital stock affected. In certain cases, the board of directors may waive a cancellation fee for bona fide business purposes. The Bank’s capital stock is putable by the shareholder. There are significant statutory and regulatory restrictions on redemption. These include: • The Bank cannot redeem capital stock if the redemption would cause it to fail to meet minimum capital requirements for total capital, leverage capital, and risk-based capital. If the Bank fails to meet these requirements, all capital stock becomes nonredeemable. • Redemption may also be prohibited if the Bank incurs, or is likely to incur, losses that would affect its ability to meet regulatory capital requirements, lead to negative retained earnings, or create an unsafe financial condition. • The Bank’s board of directors may require additional capital stock purchases from members to meet statutory and regulatory capital requirements. • If the Bank becomes insolvent, liquidated, or merged with another FHLBank, the redemption value will be determined in the liquidation or merger process. Shareholders will receive the par value of their capital stock and any retained earnings, subject to Finance Agency limitations. The Board will determine shareholder rights in a merger, in accordance with Finance Agency terms. • The Bank cannot redeem capital stock if it has not fully paid the principal or interest on any consolidated obligations issued by the Office of Finance. • Capital stock redemption is prohibited if the Bank fails to provide the required quarterly certification to the Finance Agency before declaring or paying dividends. • Redemption may also be blocked if the Bank is unable to meet statutory or regulatory liquidity requirements or fulfill its obligations, or if it enters into an agreement with another FHLBank for financial assistance. Mandatorily redeemable capital stock is considered capital for determining the Bank's compliance with its regulatory capital requirements. Based on Finance Agency interpretation, the classification of certain shares of the Bank’s capital stock as mandatorily redeemable does not affect the definition of total capital for purposes of: determining the Bank’s compliance with its regulatory capital requirements, calculating its mortgage-backed securities investment authority (300% of total capital), calculating its unsecured credit exposure to other GSEs (limited to 100% of total capital), or calculating its unsecured credit limits to other counterparties (various percentages of total capital depending on the rating of the counterparty). 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 2025, the required level of retained earnings was increased from $1.4 billion to $1.6 billion attributable to higher non-MBS investment balances. The Bank’s retained earnings requirement may be changed at any time. The Board periodically reviews the retained earnings methodology and analysis to determine whether any adjustments are appropriate. In September 2023, the Board approved an updated Framework and dividend philosophy to reflect changes in the current interest rate environment and business conditions. The Framework includes a dividend philosophy to endeavor to pay a quarterly dividend rate that is equal to or greater than the current market rate for a highly rated investment and that is sustainable under current and projected earnings while maintaining appropriate levels of capital. The decision to declare any dividend and the dividend rate is at the discretion of the Bank’s Board, which may choose to follow or not follow the dividend philosophy as guidance in the dividend declaration. The Board may also revise or eliminate the dividend philosophy in the future. The Bank’s historical dividend rates and the dividend philosophy are not indicative of future dividend declarations. 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. 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 may be released from restricted retained earnings. 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. 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 $111 million, or 0.14% of total assets as of December 31, 2024. Excess stock totaled $118 million, or 0.13% of total assets as of December 31, 2023. In 2024, the Bank paid dividends at an annualized rate of 8.75%, totaling $265 million, including $209 million in dividends on capital stock and $56 million in dividends on mandatorily redeemable capital stock. In 2023 and 2022, the Bank paid dividends on capital stock at an annualized rate of 7.49%, totaling $243 million, and 6.30%, totaling $161 million, respectively. The Bank paid $32 million and a de minimis amount of dividends on mandatorily redeemable capital stock in 2023 and 2022, respectively. 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 February 19, 2025, the Bank’s board of directors declared a quarterly cash dividend on the capital stock outstanding during the fourth quarter of 2024 at an annualized rate of 8.75%, totaling $63 million. The Bank expects to pay the dividend on March 11, 2025. 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. A shareholder’s excess stock is defined as any capital stock holdings in excess of the shareholder’s minimum capital stock requirement, as established by the Bank’s capital plan. The Bank’s practice is to repurchase the surplus capital stock of all members and the excess stock of all former members on a daily schedule. Surplus capital stock is defined as any stock holdings in excess of 115% of a member’s minimum stock requirement. The Bank calculates the amount of stock to be repurchased each business day based on the shareholder’s capital stock outstanding after all stock transactions are completed for the day, ensuring that each shareholder would continue to meet its minimum capital stock requirement after the repurchase. The Bank may change this practice at any time. 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 2024, 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. No institution held 10% or more of the Bank’s outstanding capital stock, including mandatorily redeemable capital stock, as of December 31, 2024. JPMorgan Chase, National Association, a nonmember, held $643 million, or 20% of the Bank’s outstanding capital stock, including mandatorily redeemable capital stock, as of December 31, 2023. On May 1, 2023, the California DFPI closed First Republic Bank and appointed the FDIC as receiver. On the same date, the FDIC transferred all of the deposits and substantially all of the assets of First Republic Bank, including the advances outstanding from the Bank, to JPMorgan Chase, National Association, a nonmember. Upon assumption of the advances outstanding by JPMorgan Chase, National Association, the Bank transferred $759 million of capital stock of the Bank, held by First Republic Bank, to JPMorgan Chase, National Association and reclassified that capital stock to mandatorily redeemable as a liability in the Bank’s Statements of Condition.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Note 13 — 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, the issuance of consolidated obligations, or the investment in fixed rate assets to create variable rate structures. The interest rate exchange agreements are generally executed at the same time the advances, consolidated obligations, and investments 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. Some of these banks and broker-dealers or their affiliates buy, sell, and distribute consolidated obligations. Derivatives may be either uncleared or cleared. In an uncleared derivative transaction, the Bank’s counterparty is the executing bank or broker-dealer. In a cleared derivative transaction, the Bank may execute the transaction with an executing bank or broker-dealer, either on or off a swap execution facility, but in either case, the Bank’s counterparty is a derivatives clearing organization (clearing house) once the derivative transaction has been accepted for clearing. The Bank is not a derivatives dealer and does not trade derivatives for short-term profit. Additional uses of interest rate exchange agreements include: (i) offsetting embedded features in assets and liabilities, (ii) hedging anticipated issuance of debt, (iii) matching against consolidated obligation discount notes to create the equivalent of callable or non-callable fixed rate debt, (iv) modifying the repricing frequency of assets and liabilities, (v) matching against certain advances and consolidated obligations for which the Bank elected the fair value option, and (vi) exactly offsetting other derivatives cleared at a clearing house. The Bank’s use of interest rate exchange agreements results in one of the following classifications: (i) a fair value hedge of an underlying financial instrument or (ii) an economic hedge of assets, liabilities, or other derivatives. The Bank primarily uses interest rate swaps, which are agreements between two entities to exchange cash flows in the future. The agreement sets the dates on which the cash flows will be paid and the manner in which the cash flows will be calculated. One of the simplest forms of an interest rate swap involves the promise by one party to pay cash flows equivalent to the interest on a notional principal amount at a predetermined fixed rate for a given period of time. In return for this promise, the party receives cash flows equivalent to the interest on the same notional principal amount at a variable rate for the same period of time. The variable rate received or paid by the Bank in most interest rate exchange agreements is based on a daily repricing index, such as the Secured Overnight Financing Rate (SOFR) or the effective federal funds rate (EFFR). Hedging Activities. The Bank documents at inception all relationships between derivatives designated as hedging instruments and hedged items, its risk management objectives and strategies for undertaking various hedge transactions, and its method of assessing hedge effectiveness. Derivatives designated as fair value hedges may be transacted to hedge: (i) assets and liabilities on the Statements of Condition, (ii) firm commitments, or (iii) forecasted transactions. The Bank also formally assesses (both at hedge inception and on an ongoing basis) whether the hedging derivatives have been effective in offsetting changes in the fair value of hedged items attributable to the hedged risk and whether those derivatives may be expected to remain effective hedges in future periods. The Bank typically uses regression analyses or other statistical analyses to assess the effectiveness of its hedges. When it is determined that a derivative has not been or is not expected to be effective as a hedge, the Bank discontinues hedge accounting prospectively. The Bank may have the following types of hedged items: Investments – The Bank may invest in U.S. Treasury and agency obligations as well as agency MBS. In the past, the Bank has also invested in PLRMBS rated AAA at the time of acquisition. The interest rate and prepayment risk associated with these investment securities is managed through a combination of debt issuance and derivatives. The Bank may manage prepayment risk and interest rate risk by funding investment securities with consolidated obligations that have call features or with a combination of consolidated obligations and callable swaps. This type of hedge is treated as either a fair value hedge or an economic hedge. The Bank may also execute callable swaps in conjunction with the issuance of certain liabilities to create funding that is economically equivalent to fixed rate callable debt. This type of hedge is treated as an economic hedge. Investment securities may be classified as trading, AFS, or HTM. The Bank may also manage the risk arising from changing market prices or cash flows of investment securities classified as trading or AFS by entering into interest rate exchange agreements that offset the changes in fair value or cash flows of the securities. Hedge relationships that involve AFS securities are designated as fair value hedges. For AFS securities that have been hedged and qualify as a fair value hedge, the Bank records the portion of the change in the fair value of the investment related to the risk being hedged in interest income together with the related change in the fair value of the derivative, and records the remainder of the change in the fair value of the investment in AOCI as “Net unrealized gain/(loss) on AFS securities.” Advances – The Bank offers a wide range of advances structures to meet members’ funding needs. These advances may have maturities up to 30 years with fixed or adjustable rates and may include early termination features or options. The Bank may use derivatives to adjust the repricing and options characteristics of advances to more closely match the characteristics of the Bank’s funding liabilities. In general, whenever a member executes a fixed rate advance, fixed rate advance with embedded options, or a variable rate advance with embedded options, the Bank will simultaneously execute an interest rate exchange agreement with terms that offset the terms and any embedded options in the advance. The combination of the advance and the interest rate exchange agreement effectively creates a variable rate asset. Fixed rate advances without options that are offset with an interest rate exchange agreement are generally treated as fair value hedges. Advances with embedded options are recorded using the fair value option and are economically hedged using interest rate exchange agreements. Mortgage Loans – Prior to June 30, 2021, the Bank invested in fixed rate mortgage loans. The prepayment options embedded in mortgage loans can result in extensions or contractions in the expected repayment of these investments, depending on changes in estimated prepayment speeds. The Bank manages the interest rate risk and prepayment risk associated with fixed rate mortgage loans through a combination of debt issuance and derivatives. The Bank uses both callable and non-callable debt to achieve cash flow patterns and market value sensitivities for liabilities similar to those expected on the mortgage loans. Net income could be reduced if the Bank replaces prepaid mortgage loans with lower-yielding assets and the Bank’s higher funding costs are not reduced accordingly. The Bank may execute callable swaps in conjunction with the issuance of short-term or adjustable rate consolidated obligations to create funding that is economically equivalent to fixed rate callable bonds. This type of hedge is treated as an economic hedge. Consolidated Obligations – Consolidated obligation bonds may be structured to meet the Bank’s or the investors’ needs. Common structures include fixed rate bonds with or without call options and adjustable rate bonds with or without embedded options. In general, when bonds are issued, the Bank simultaneously executes an interest rate exchange agreement with terms that offset the terms and embedded options, if any, of the consolidated obligation bond. This combination of the consolidated obligation bond and the interest rate exchange agreement effectively creates an adjustable rate bond. These transactions generally receive fair value hedge accounting treatment. When the Bank issues consolidated obligation discount notes, it may also simultaneously enter into an interest rate exchange agreement to convert the fixed rate discount note to an adjustable rate discount note. This type of hedge is treated as either a fair value hedge or an economic hedge. In addition, when certain consolidated obligation bonds for which the Bank has elected the fair value option are issued, the Bank simultaneously executes an interest rate exchange agreement with terms that economically offset the terms of the consolidated obligation bond. However, this type of hedge is treated as an economic hedge because these combinations do not meet the requirements for fair value hedge accounting treatment. Offsetting Derivatives – The Bank enters into derivatives to offset the economic effect of other derivatives that are no longer designated to advances, investments, or consolidated obligations. Offsetting derivatives do not receive hedge accounting treatment and are separately marked to market through earnings. The net result of the accounting for these derivatives does not significantly affect the operating results of the Bank. The notional amount of an interest rate exchange agreement serves as a factor in determining periodic interest payments or cash flows received and paid. However, the notional amount of derivatives represents neither the actual amounts exchanged nor the overall exposure of the Bank to credit risk and market risk. The risks of derivatives can be measured meaningfully on a portfolio basis by taking into account the counterparties, the types of derivatives, the items being hedged, and any offsets between the derivatives and the items being hedged. For more information related to the Bank’s accounting policies for derivatives, see Note 1 – Summary of Significant Accounting Policies. The following table summarizes the notional amount and fair value of derivative instruments, including the effect of netting adjustments and cash collateral as of December 31, 2024 and 2023. For purposes of this disclosure, the derivative values include the fair value of derivatives and related accrued interest. 2024 2023 (In millions) Notional Derivative Derivative Notional Derivative Derivative Derivatives designated as hedging instruments: Interest rate swaps $ 76,005 $ 713 $ 399 $ 90,088 $ 795 $ 705 Derivatives not designated as hedging instruments: Interest rate swaps 13,871 39 59 27,349 36 87 Total derivatives before netting and collateral adjustments $ 89,876 752 458 $ 117,437 831 792 Netting adjustments and cash collateral (1) (722) (450) (815) (790) Total derivative assets and total derivative liabilities $ 30 $ 8 $ 16 $ 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 $210 million and $353 million at December 31, 2024 and 2023, respectively. Cash collateral received, including accrued interest, was $482 million and $378 million at December 31, 2024 and 2023, 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 years ended December 31, 2024, 2023, and 2022. 2024 Interest Income/(Expense) (In millions) Advances AFS Securities Consolidated Obligation Bonds Consolidated Obligations Discount Notes (2) Total interest income/(expense) presented in the Statements of Income $ 2,767 $ 1,186 $ (3,143) $ (767) Gain/(loss) on fair value hedging relationships Derivatives (1) $ 360 $ 655 $ (209) $ 1 Hedged items 159 (258) (281) (4) Net gain/(loss) on derivatives and hedging activities recorded in net interest income $ 519 $ 397 $ (490) $ (3) 2023 Interest Income/(Expense) (In millions) Advances AFS Securities Consolidated Obligation Bonds Total interest income/(expense) presented in the Statements of Income $ 3,999 $ 921 $ (3,901) Gain/(loss) on fair value hedging relationships Derivatives (1) $ 117 $ 91 $ (138) Hedged items 230 230 (438) Net gain/(loss) on derivatives and hedging activities recorded in net interest income $ 347 $ 321 $ (576) 2022 Interest Income/(Expense) (In millions) Advances AFS Securities Consolidated Obligation Bonds Total interest income/(expense) presented in the Statements of Income $ 1,226 $ 408 $ (715) Gain/(loss) on fair value hedging relationships Derivatives (1) $ 814 $ 1,202 $ (1,038) Hedged items (804) (1,247) 944 Net gain/(loss) on derivatives and hedging activities recorded in net interest income $ 10 $ (45) $ (94) (1) Includes net interest settlements. (2) There were no fair value hedging relationships on consolidated obligation discount notes during the years ended December 31, 2023 and 2022. The following tables present the cumulative basis adjustments on hedged items designated as fair value hedges and the related amortized cost of the hedged items as of December 31, 2024 and 2023. 2024 (In millions) Advances AFS Securities Consolidated Obligation Bonds Consolidated Obligation Discount Notes (2) Amortized cost of hedged asset/(liability) (1) $ 24,880 $ 19,296 $ (22,142) $ (9,702) Fair value hedging basis adjustments: Active hedging relationships included in amortized cost $ (230) $ (1,191) $ 364 $ (4) Discontinued hedging relationships included in amortized cost 32 512 — — Total amount of fair value hedging basis adjustments $ (198) $ (679) $ 364 $ (4) 2023 (In millions) Advances AFS Securities Consolidated Obligation Bonds Amortized cost of hedged asset/(liability) (1) $ 38,338 $ 17,029 (34,121) Fair value hedging basis adjustments: Active hedging relationships included in amortized cost $ (427) $ (1,053) 645 Discontinued hedging relationships included in amortized cost 56 621 — Total amount of fair value hedging basis adjustments $ (371) $ (432) $ 645 (1) Includes only the portion of amortized cost representing the hedged items in fair value hedging relationships. (2) There were no fair value hedging relationships on consolidated obligation discount notes at December 31, 2023. The following table presents the components of net gain/(loss) on derivatives as presented in the Statements of Income for the years ended December 31, 2024, 2023, and 2022. (In millions) 2024 2023 2022 Derivatives not designated as hedging instruments Gain/(Loss) Gain/(Loss) Gain/(Loss) Economic hedges: Interest rate swaps $ 16 $ (26) $ 34 Net interest settlements 40 5 (42) Total net gain/(loss) related to derivatives not designated as hedging instruments 56 (21) (8) Price alignment amount (1) (3) (4) (1) Net gain/(loss) on derivatives $ 53 $ (25) $ (9) (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 margin and settle variation margin through a clearing agent to the clearing house exposes the Bank to institutional credit risk if its futures commission merchant, or 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 futures commission merchant default credit events. Variation margin is settled 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 December 31, 2024, was $202 million, for which the Bank posted cash collateral of $197 million in the ordinary course of business. The Bank may present derivative instruments, related cash collateral received or pledged, and associated accrued interest by clearing agent or by counterparty on a net basis when the netting requirements have been met. The following table presents 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 December 31, 2024 and 2023. 2024 2023 (In millions) Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Derivative instruments meeting netting requirements Gross recognized amount Uncleared $ 730 $ 452 $ 826 $ 778 Cleared 22 6 5 14 Total gross recognized amount 752 458 831 792 Gross amount of netting adjustments and cash collateral Uncleared (729) (444) (814) (776) Cleared 7 (6) (1) (14) Total gross amounts of netting adjustments and cash collateral (722) (450) (815) (790) Total derivative assets and total derivative liabilities $ 30 $ 8 $ 16 $ 2 Net amount (1) Uncleared $ 1 $ 8 $ 12 $ 2 Cleared 29 — 4 — Total net amount $ 30 $ 8 $ 16 $ 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 December 31, 2024 and 2023, the Bank had additional net exposure of $504 million and $771 million, respectively, due to instances where non-cash collateral to a counterparty exceeded the Bank’s net derivative position.

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value	Note 14 — 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 December 31, 2024 and 2023. 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 December 31, 2024 and 2023. 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. 2024 (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 $ 2 $ 2 $ 2 $ — $ — $ — Interest-bearing deposits 3,765 3,765 3,765 — — — Securities purchased under agreements to resell 7,750 7,750 — 7,750 — — Federal funds sold 1,645 1,645 — 1,645 — — AFS securities 20,312 20,312 — 19,355 957 — HTM securities 1,489 1,469 — 1,374 95 — Advances 45,637 45,596 — 45,596 — — Mortgage loans held for portfolio 693 576 — 576 — — Accrued interest receivable 181 181 — 181 — — Derivative assets, net (2) 30 30 — 752 — (722) Other assets (3) 17 17 17 — — — Liabilities Deposits 1,061 1,061 — 1,061 — — Consolidated obligations: Bonds 58,174 57,985 — 57,985 — — Discount notes 14,378 14,376 — 14,376 — — Total consolidated obligations 72,552 72,361 — 72,361 — — Mandatorily redeemable capital stock 331 331 331 — — — Accrued interest payable 412 412 — 412 — — Derivative liabilities, net (2) 8 8 — 458 — (450) 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 5 5 5 — — — Interest-bearing deposits 2,922 2,922 2,922 — — — Securities purchased under agreements to resell 3,650 3,650 — 3,650 — — Federal funds sold 3,861 3,861 — 3,861 — — AFS securities 18,014 18,014 — 16,955 1,059 — HTM securities 1,847 1,818 — 1,702 116 — Advances 61,335 61,216 — 61,216 — — Mortgage loans held for portfolio 754 634 — 634 — — Accrued interest receivable 184 184 — 184 — — Derivative assets, net (2) 16 16 — 831 — (815) Other assets (3) 17 17 17 — — — Liabilities Deposits 962 962 — 962 — — Consolidated obligations: Bonds 64,297 64,037 — 64,037 — — Discount notes 19,187 19,182 — 19,182 — — Total consolidated obligations 83,484 83,219 — 83,219 — — Mandatorily redeemable capital stock 706 706 706 — — — Accrued interest payable 520 520 — 520 — — Derivative liabilities, net (2) 2 2 — 792 — (790) (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) Includes 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 December 31, 2024: • 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. 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 are listed below. Investment Securities – MBS – To value its MBS, the Bank obtains prices from multiple designated third-party pricing vendors when available. The pricing vendors use various proprietary models to price these securities. The inputs to those models are derived from various sources including, but not limited to: benchmark yields, reported trades, dealer estimates, issuer spreads, prices on benchmark securities, bids, offers, and other market-related data. Since many securities do not trade on a daily basis, the pricing vendors use available information as applicable, such as benchmark yield curves, benchmarking of like securities, sector groupings, and matrix pricing, to determine the prices for individual securities. Each pricing vendor has an established challenge process in place for all security valuations, which facilitates resolution of price discrepancies identified by the Bank. At least annually, the Bank conducts reviews of the multiple pricing vendors to update and confirm its understanding of the vendors’ pricing processes, methodologies, and control procedures. The Bank’s valuation technique for estimating the fair values of its MBS first requires the establishment of a median vendor price for each security. If three prices are received, the middle price is the median price; if two prices are received, the average of the two prices is the median price; and if one price is received, it is the median price (and also the default fair value) subject to additional validation. All vendor prices that are within a specified tolerance threshold of the median price are included in the cluster of vendor prices that are averaged to establish a default fair value. All vendor prices that are outside the threshold (outliers) are subject to further analysis including, but not limited to, comparison to prices provided by an additional third-party valuation service, dealer price estimates for similar securities, and the use of internally modeled prices, which are deemed to be reflective of all relevant facts and circumstances that a market participant would consider. Such analysis is also applied in those limited instances where no third-party vendor price or only one third-party vendor price is available in order to arrive at an estimated fair value. If an outlier (or some other price identified in the analysis) is determined to be a better estimate of fair value, then the outlier (or the other price, as appropriate) is used as the fair value rather than the default fair value. If, instead, the analysis confirms that an outlier is (or outliers are) not representative of fair value and the default fair value is the best estimate, then the default fair value is used as the fair value. If all vendor prices received for a security are outside the tolerance threshold level of the median price, then there is no default fair value, and the fair value is determined by an evaluation of all outlier prices (or the other prices, as appropriate) as described above. As of December 31, 2024, multiple vendor prices were received for most of the Bank’s MBS, and the fair value estimates for most of those securities were determined in accordance with the Bank’s valuation technique based on these vendor prices. Based on the Bank’s reviews of the pricing methods employed by the third-party pricing vendors and the relative lack of dispersion among the vendor prices (or, in those instances in which there were outliers, the Bank’s additional analyses), the Bank believes that its fair value estimates are reasonable and that the fair value measurements are classified appropriately in the fair value hierarchy. Based on limited market liquidity for PLRMBS, the fair value measurements for these securities were classified as Level 3 within the fair value hierarchy. Investment Securities – Non-MBS – To determine the estimated fair values of non-MBS investments, the Bank uses a market approach using prices from third-party pricing vendors, generally consistent with the methodologies for MBS. The Bank believes that its methodologies result in fair values that are reasonable and similar in all material respects based on the nature of the financial instruments being measured. Advances Recorded Under the Fair Value Option – Because quoted prices are not available for advances, the fair values are measured using model-based valuation techniques (such as calculating the present value of future cash flows and reducing the amount for accrued interest receivable). The Bank’s primary inputs for measuring the fair value of advances recorded under the fair value option are market-based consolidated obligation yield curve (CO Curve) inputs obtained from the Office of Finance. The CO Curve is then adjusted to reflect the rates on replacement advances with similar terms and collateral. These spread adjustments are not market-observable and are evaluated for significance in the overall fair value measurement and the fair value hierarchy level of the advance. The Bank obtains market-observable inputs for complex advances recorded under the fair value option. These inputs may include volatility assumptions, which are market-based expectations of future interest rate volatility implied from current market prices for similar options (swaption volatility and volatility skew). The discount rates used in these calculations are the replacement advance rates for advances with similar terms. Pursuant to the Finance Agency’s advances regulation, advances with an original term to maturity or repricing period greater than six months generally require a prepayment fee sufficient to make the Bank financially indifferent to the borrower’s decision to prepay the advances. The Bank determined that no adjustment is required to the fair value measurement of advances for prepayment fees. The Bank also did not adjust its fair value measurement of advances recorded under the fair value option for creditworthiness primarily because advances were fully collateralized. Other Assets – The estimated fair value of grantor trust assets is based on quoted market prices. Derivative Assets and Liabilities – In general, derivative instruments transacted and held by the Bank for risk management activities are traded in over-the-counter markets where quoted market prices are not readily available. These derivatives are interest rate-related. For these derivatives, the Bank measures fair value using internally developed discounted cash flow models based on standard valuation techniques that use market-observable inputs, such as swap rates and volatility assumptions, which are market-based expectations of future interest rate volatility implied from current market prices for similar options (swaption volatility and volatility skew), adjusted for counterparty credit risk and prepayment assumptions, as necessary. The Bank uses the SOFR curve and the Overnight Index Swap curve for the discount rate and forward interest rate assumptions for derivatives indexed to SOFR and Overnight Index Swap, respectively. The Bank is subject to credit risk because of the risk of potential nonperformance by its derivative counterparties. To mitigate this risk, the Bank executes uncleared derivative transactions only with highly rated derivative dealers and major banks (derivative dealer counterparties) that meet the Bank’s eligibility criteria. In addition, the Bank has entered into master netting agreements and bilateral credit support agreements with all active derivative dealer counterparties that provide for delivery of margin at specified levels to limit the Bank’s net unsecured credit exposure to these counterparties. Under these policies and agreements, the amount of unsecured credit exposure to an individual derivative dealer counterparty is set at zero (subject to a minimum transfer amount). The Bank clears its cleared derivative transactions only through clearing agents that meet the Bank’s eligibility requirements, and the Bank’s credit exposure to the clearing house is secured by variation margin received from the clearing house. The Bank evaluated the potential for the fair value of the instruments to be affected by counterparty credit risk and determined that no adjustments to the overall fair value measurements were required. The fair values of the derivative assets and liabilities include accrued interest receivable/payable and cash collateral remitted to/received from counterparties. The estimated fair values of the accrued interest receivable/payable and cash collateral approximate their carrying values because of their short-term nature. The fair values of derivatives that met the netting requirements are presented on a net basis. If these netted amounts are positive, they are classified as an asset and, if negative, they are classified as a liability. Consolidated Obligations Recorded Under the Fair Value Option – Because quoted prices in active markets are not generally available for identical liabilities, the Bank measures fair values using internally developed models that use primarily market-observable inputs. The Bank’s primary input for measuring the fair value of consolidated obligation bonds is a market-based CO Curve obtained from the Office of Finance. The Office of Finance constructs the CO Curve using the Treasury yield curve as a base curve, which is adjusted by indicative consolidated obligation spreads obtained from market-observable sources. These market indications are generally derived from pricing indications from dealers, historical pricing relationships, and market activity for similar liabilities, such as recent GSE issuances or secondary market activity. For consolidated obligation bonds with embedded options, the Bank also obtains market-observable inputs, such as volatility assumptions, which are market-based expectations of future interest rate volatility implied from current market prices for similar options (swaption volatility and volatility skew). Adjustments may be necessary to reflect the Bank’s credit quality or the credit quality of the FHLBank System when valuing consolidated obligation bonds measured at fair value. The Bank monitors its own creditworthiness and the creditworthiness of the other FHLBanks and the FHLBank System to determine whether any adjustments are necessary for creditworthiness in its fair value measurement of consolidated obligation bonds. The credit ratings of the FHLBank System and any changes to the credit ratings are the basis for the Bank to determine whether the fair values of consolidated obligations recorded under the fair value option have been significantly affected during the reporting period by changes in the instrument-specific credit risk. 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 December 31, 2024 and 2023, by level within the fair value hierarchy. December 31, 2024 Fair Value Measurement Using: Netting Adjustments and Cash Collateral (1) (In millions) Level 1 Level 2 Level 3 Total Recurring fair value measurements – Assets: AFS securities: U.S. Treasury obligations $ — $ 6,510 $ — $ — $ 6,510 MBS: GSEs – multifamily — 12,845 — — 12,845 PLRMBS — — 957 — 957 Subtotal AFS MBS — 12,845 957 — 13,802 Total AFS securities — 19,355 957 — 20,312 Advances (2) — 5,286 — — 5,286 Derivative assets, net: interest rate-related — 752 — (722) 30 Other assets 17 — — — 17 Total recurring fair value measurements – Assets $ 17 $ 25,393 $ 957 $ (722) $ 25,645 Recurring fair value measurements – Liabilities: Consolidated obligation bonds (3) $ — $ 436 $ — $ — $ 436 Derivative liabilities, net: interest rate-related — 458 — (450) 8 Total recurring fair value measurements – Liabilities $ — $ 894 $ — $ (450) $ 444 Nonrecurring fair value measurements – Assets: (4) Impaired mortgage loans held for portfolio $ — $ — $ 1 $ — $ 1 Total nonrecurring fair value measurements – Assets $ — $ — $ 1 $ — $ 1 December 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: U.S. Treasury obligations $ — $ 4,534 $ — $ — $ 4,534 MBS: GSEs – multifamily — 12,421 — — 12,421 PLRMBS — — 1,059 — 1,059 Subtotal AFS MBS — 12,421 1,059 — 13,480 Total AFS securities — 16,955 1,059 — 18,014 Advances (2) — 1,898 — — 1,898 Derivative assets, net: interest rate-related — 831 — (815) 16 Other assets 17 — — — 17 Total recurring fair value measurements – Assets $ 17 $ 19,684 $ 1,059 $ (815) $ 19,945 Recurring fair value measurements – Liabilities: Consolidated obligation bonds (3) $ — $ 604 $ — $ — $ 604 Derivative liabilities, net: interest rate-related — 792 — (790) 2 Total recurring fair value measurements – Liabilities $ — $ 1,396 $ — $ (790) $ 606 Nonrecurring fair value measurements – Assets: (4) Impaired mortgage loans held for portfolio $ — $ — $ 22 $ — $ 22 Total nonrecurring fair value measurements – Assets $ — $ — $ 22 $ — $ 22 (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 December 31, 2024 and 2023. (3) Represents consolidated obligation bonds recorded under the fair value option at December 31, 2024 and 2023. (4) The fair value information presented is as of the date the fair value adjustment was recorded during the years ended December 31, 2024 and 2023. 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 years ended December 31, 2024, 2023, and 2022. (In millions) 2024 2023 2022 Balance, beginning of the period $ 1,059 $ 1,182 $ 1,608 Total gain/(loss) realized and unrealized included in: Interest income 12 33 55 (Provision for)/reversal of credit losses — (4) (14) Other income/(loss) — — 28 Unrealized gain/(loss) included in AOCI (5) (15) (146) Settlements (109) (139) (366) Transfers of HTM securities to AFS securities — 2 17 Balance, end of the period $ 957 $ 1,059 $ 1,182 Total amount of unrealized gain/(loss) for the period included in AOCI relating to assets held at the end of the period $ (5) $ (15) $ (146) 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 $ 29 $ 41 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 obligation bonds carried at fair value are recognized solely on the contractual amount of interest due or unpaid. Any consolidated obligation bond underwriting fees or concessions will be immediately recognized in other income/(loss) or other expense. The Bank elected the fair value option for certain financial instruments as follows: • Adjustable rate advances with embedded caps and floors; • Callable fixed rate advances; • Putable fixed rate advances; • Fixed rate advances with partial prepayment symmetry; • Callable or non-callable floating rate consolidated obligation bonds with embedded caps; • Convertible consolidated obligation bonds; • Adjustable or fixed rate range accrual consolidated obligation bonds; • Ratchet consolidated obligation bonds; • Adjustable rate advances indexed to certain indices such as the Prime Rate, U.S. Treasury bill, and EFFR; • Adjustable rate consolidated obligation bonds indexed to certain indices like the Prime Rate and U.S. Treasury bill; • Step-up callable bonds, which pay interest at increasing fixed rates for specified intervals over the life of the bond and can generally be called at the Bank’s option on the step-up dates according to the terms of the bond offerings; and • Step-down callable bonds, which pay interest at decreasing fixed rates for specified intervals over the life of the bond and can generally be called at the Bank’s option on the step-down dates according to the terms of the bond offerings. 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 presents the net gain/(loss) recognized in earnings on advances and consolidated obligation bonds held under fair value option for the years ended December 31, 2024, 2023, and 2022: (In millions) 2024 2023 2022 Advances $ 4 $ 28 $ (119) Consolidated obligation bonds (16) (29) 54 Total $ (12) $ (1) $ (65) 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 gain/(loss) 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 years ended December 31, 2024, 2023, and 2022. 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 December 31, 2024 and 2023: 2024 2023 (In millions) Principal Balance Fair Value Fair Value Principal Balance Fair Value Fair Value Advances (1) $ 5,269 $ 5,286 $ 17 $ 1,902 $ 1,898 $ (4) Consolidated obligation bonds 450 436 (14) 633 604 (29) (1) At December 31, 2024 and 2023, none of these advances were 90 days or more past due or had been placed on nonaccrual status.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 15 — 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 December 31, 2024, 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 $1.2 trillion at December 31, 2024 and 2023. The joint and several liability regulation provides a general framework for addressing the possibility that an FHLBank may be unable to repay its participation in the consolidated obligations for which it is the primary obligor. In accordance with this regulation, the president of each FHLBank is required to provide a quarterly certification that, among other things, the FHLBank will remain capable of making full and timely payment of all its current obligations, including direct obligations. In addition, the regulation requires that an FHLBank must provide written notice to the Finance Agency if at any time the FHLBank is unable to provide the quarterly certification; projects that it will be unable to fully meet all of its current obligations, including direct obligations, on a timely basis during the quarter; or negotiates or enters into an agreement with another FHLBank for financial assistance to meet its obligations. If an FHLBank gives any one of these notices (other than in a case of a temporary interruption in the FHLBank’s debt servicing operations resulting from an external event such as a natural disaster or a power failure), it must promptly file a consolidated obligations payment plan for Finance Agency approval specifying the measures the FHLBank will undertake to make full and timely payments of all its current obligations. Notwithstanding any other provisions in the regulation, the regulation provides that the Finance Agency in its discretion may at any time order any FHLBank to make any principal or interest payment due on any consolidated obligation. To the extent an FHLBank makes any payment on any consolidated obligation on behalf of another FHLBank, the paying FHLBank is entitled to reimbursement from the FHLBank that is the primary obligor, which will have a corresponding obligation to reimburse the FHLBank for the payment and associated costs, including interest. The regulation also provides that the Finance Agency may allocate the outstanding liability of an FHLBank for consolidated obligations among the other FHLBanks on a pro rata basis in proportion to each FHLBank’s participation in all consolidated obligations outstanding or in any other manner it may determine to ensure that the FHLBanks operate in a safe and sound manner. Off-balance sheet commitments as of December 31, 2024 and 2023, were as follows: 2024 2023 (In millions) Expire Within Expire After Total Total Standby letters of credit outstanding $ 9,966 $ 9,531 $ 19,497 $ 19,418 Commitments to fund additional advances 5 — 5 — 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 on the Statements of Condition and amounted to $55 million and $57 million at December 31, 2024 and 2023, respectively. 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 does not anticipate any credit losses and did not record any additional liability for credit losses on the letters of credit outstanding or other off-balance sheet commitments as of December 31, 2024 and 2023. There were $5 million in commitments to fund advances at December 31, 2024. There were no commitments to fund advances at December 31, 2023. 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 13 – Derivatives and Hedging Activities for additional information about the Bank’s pledged collateral and other credit risk-related contingent features. The Bank may be subject to various 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, results of operations, or cash flows. Other commitments and contingencies are discussed in Note 1 – Summary of Significant Accounting Policies, Note 5 – Advances, Note 8 – Consolidated Obligations, Note 9 – Affordable Housing Program, Note 11 – Capital, Note 12 – Employee Retirement Plans and Incentive Compensation Plans, and Note 13 – Derivatives and Hedging Activities.

Transactions with Certain Membe

Transactions with Certain Members, Certain Nonmembers, and Other FHLBanks	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Transactions with Certain Members, Certain Nonmembers, and Other FHLBanks	Note 16 — Transactions with Certain Members, Certain Nonmembers, and Other FHLBanks Transactions with Members and Nonmembers. The Bank has a cooperative ownership structure under which current member institutions, certain former members, and certain other nonmembers own the capital stock of the Bank. Former members and nonmembers that have outstanding transactions with the Bank are required to maintain their investment in the Bank’s capital stock until their outstanding transactions mature or are paid off or until their capital stock is redeemed following the five-year redemption period for capital stock or is repurchased by the Bank, in accordance with the Bank’s capital requirements. (For further information on concentration risk, see Note 11 – Capital and Note 5 – Advances.) Under the FHLBank Act and Finance Agency regulations, each member eligible to vote is entitled to cast by ballot one vote for each share of stock that it was required to hold as of the record date, which is December 31, of the year prior to each election, subject to the limitation that no member may cast more votes than the average number of shares of the Bank’s stock that are required to be held by all members located in such member's state. All transactions with members, nonmembers, and their affiliates are entered into in the ordinary course of business. As of and for the three-year period ended December 31, 2024, no shareholder owned 10% or more of the total voting interests in the Bank because of this statutory limit on members' voting rights. All advances are made to members, and all mortgage loans held for portfolio were purchased from members. The Bank also maintains deposit accounts for members, certain former members, and certain other nonmembers primarily to facilitate settlement activities that are directly related to advances and mortgage loan purchases. All transactions with members and their affiliates are entered into in the ordinary course of business. The Bank may invest in federal funds sold, interest-bearing deposits, commercial paper, and MBS, and executes derivative transactions with members or their affiliates. The Bank purchases MBS through securities brokers or dealers and executes all MBS investments without preference to the status of the counterparty or the issuer of the investment as a nonmember, member, or affiliate of a member. When the Bank executes non-MBS investments with a member, the Bank may give consideration to the member’s secured credit and the Bank’s advances pricing. As an additional service to its members, the Bank has in the past entered into offsetting interest rate exchange agreements, acting as an intermediary between exactly offsetting derivative transactions with members and other counterparties. These transactions were executed at market rates. The FHLBank Act requires the Bank to establish an AHP. Through the AHP, the Bank provides subsidies to members, who use the funds to assist in the purchase, construction, or rehabilitation of housing for households earning up to 80% of the median income for the area in which they live. Subsidies may be in the form of direct grants or below-market interest rate advances. Only Bank members, along with their nonmember AHP project sponsors, may submit AHP applications. All AHP subsidies are made in the ordinary course of business. The FHLBank Act also requires the Bank to establish a Community Investment Program and authorizes the Bank to offer additional Community Investment Cash Advance (CICA) programs. Under these programs, the Bank provides subsidies in the form of grants and below-market interest rate advances to members or standby letters of credit to members for community lending and economic development projects. Only Bank members may submit applications for CICA subsidies. All CICA subsidies are made in the ordinary course of business. In instances where the member has an officer or director serving on the Bank’s board of directors, all of the aforementioned transactions with the member are subject to the same eligibility and credit criteria, as well as the same conditions, as comparable transactions with all other members, in accordance with regulations governing the operations of the FHLBanks. 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) December 31, 2024 December 31, 2023 Assets: Advances $ 5,713 $ 5,762 Mortgage loans held for portfolio 70 74 Accrued interest receivable 9 5 Liabilities: Deposits $ 16 $ 34 Capital: Capital Stock $ 190 $ 191 (In millions) 2024 2023 2022 Interest Income: Advances $ 192 $ 271 $ 114 Mortgage loans held for portfolio 3 3 1 Interest Expense: Deposits 1 1 — All transactions with members, nonmembers, and their affiliates are entered into in the ordinary course of business. 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 December 31, 2024 and 2023, 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 years ended December 31, 2024, 2023, and 2022, the Bank extended overnight loans to other FHLBanks for $210 million, $2.6 billion, and $2.4 billion, respectively. The amount of interest income for these advances was de minimis for the years ended December 31, 2024, 2023, and 2022. During the years ended December 31, 2024, 2023, and 2022, the Bank borrowed $80 million, $5.5 billion, and $10.4 billion, respectively, from other FHLBanks. Interest expense related to these borrowings was de minimis for the year ended December 31, 2024, and was $2 million and $1 million for the years ended December 31, 2023 and 2022, respectively. 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. For the years ended December 31, 2024 and 2023, the Bank recorded a de minimis amount in transaction services fee expense to the FHLBank Chicago. For the year ended December 31, 2022, the Bank recorded $1 million in transaction services fee expense to the FHLBank Chicago, which was recorded in the Statements of Income as other expense.

Employee Retirement Plans and I

Employee Retirement Plans and Incentive Compensation Plans	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	Note 12 — Employee Retirement Plans and Incentive Compensation Plans Defined Benefit Plans Qualified Defined Benefit Plan. The Bank provides retirement benefits through a Bank-sponsored Cash Balance Plan, a qualified defined benefit plan. The Cash Balance Plan is provided to all employees who have completed six months of Bank service. Under the plan, during the years ended December 31, 2024 and 2023, each eligible Bank employee accrued benefits annually equal to 6% of the employee's annual compensation, plus 6% interest on the benefits accrued to the employee through the prior yearend. The Cash Balance Plan is funded through a qualified trust established by the Bank. Non-Qualified Defined Benefit Plans. The Bank sponsors the following non-qualified defined benefit retirement plans: • Benefit Equalization Plan, a non-qualified retirement plan restoring benefits offered under the Cash Balance Plan that are limited by laws governing the plan. See below for further discussion of the defined contribution portion of the Benefit Equalization Plan. • Supplemental Executive Retirement Plan (SERP), a non-qualified unfunded retirement benefit plan available to the Bank's eligible senior officers, which generally provides a service-linked supplemental cash balance annual contribution credit to SERP participants and an annual interest credit of 6% on the benefits accrued to the SERP participants through the prior yearend. • Deferred Compensation Plan, a non-qualified retirement plan available to all eligible Bank employees, which provides make-up retirement benefits that would have been earned under the Cash Balance Plan had the compensation not been deferred. The make-up benefits vest according to the corresponding provisions of the Cash Balance Plan. See below for further discussion of the defined contribution portion of the Deferred Compensation Plan. Postretirement Health Benefit Plan. The Bank provides a postretirement health benefit plan to employees that meet certain eligibility criteria. Changes in health care cost trend rates will not have a material effect on the Bank's accumulated postretirement benefit obligation or service and interest costs because benefit plan premiums are generally paid by the retirees. Amounts recognized in AOCI for the defined benefit Cash Balance Plan, the non-qualified defined benefit plans, and postretirement health benefit plan at December 31, 2024 and 2023, consist of: 2024 2023 (In millions) Cash Balance Non-Qualified Defined Benefit Plans Postretirement Health Benefit Plan Cash Balance Postretirement Health Benefit Plan Net loss/(gain) $ 8 $ (2) $ (1) $ 12 $ (1) The following table presents obligations and funded status of retirement plans at December 31, 2024 and 2023. 2024 2023 (In millions) Cash Balance Plan Non-Qualified Defined Benefit Plans Postretirement Health Benefit Plan Cash Balance Plan Non-Qualified Defined Benefit Plans Postretirement Health Benefit Plan Projected benefit obligation $ 83 $ 15 $ 1 $ 80 $ 15 $ 1 Accumulated benefit obligation 83 14 1 80 15 1 Fair value of plan assets 101 — — 96 — — Funded/(unfunded) status 18 (15) (1) 16 (15) (1) The Bank uses a discount rate to determine the present value of its future benefit obligations. The discount rate was determined based on the Financial Times Stock Exchange (FTSE) Pension Discount Curve at the measurement date. The FTSE Pension Discount Curve is a yield curve that reflects the market-observed yields for high-quality fixed income securities for each maturity. The projected benefit payments for each year from the plan are discounted using the spot rates on the yield curve to derive a single equivalent discount rate. The discount rate is reset annually on the measurement date. The discount rate used to determine the benefit obligations for the Cash Balance Plan and non-qualified defined benefit plans was 5.25% for 2024 and 4.50% for 2023. The discount rate used to determine the benefit obligations for the postretirement health benefit plan was 5.50% for 2024 and 4.75% for 2023. The table below presents the fair values of the Cash Balance Plan's assets as of December 31, 2024 and 2023, by asset category. See Note 14 – Fair Value for further information regarding the three levels of fair value measurement. 2024 2023 (In millions) Fair Value Measurement Using: Fair Value Measurement Using: Asset Category Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 3 $ — $ — $ 3 $ 1 $ — $ — $ 1 Equity mutual funds 61 — — 61 59 — — 59 Fixed income mutual funds 30 — — 30 29 — — 29 Real estate mutual funds 4 — — 4 4 — — 4 Other mutual funds 3 — — 3 3 — — 3 Total $ 101 $ — $ — $ 101 $ 96 $ — $ — $ 96 The Cash Balance Plan is administered by the Bank's Retirement Committee, which establishes the plan's Statement of Investment Policy and Objectives. The Retirement Committee has adopted a strategic asset allocation based on a stable distribution of assets among major asset classes. These asset classes include domestic large-, mid-, and small-capitalization equity investments; international equity investments; real return investments; and fixed income investments. The Retirement Committee has set the Cash Balance Plan's target allocation percentages for a mix of 60% equity, 10% real return, and 30% fixed income. The Retirement Committee reviews the performance of the Cash Balance Plan on a regular basis. The Cash Balance Plan's weighted average asset allocation at December 31, 2024 and 2023, by asset category was as follows: Asset Category 2024 2023 Cash and cash equivalents 2 % 1 % Equity mutual funds 61 62 Fixed income mutual funds 30 30 Real estate mutual funds 4 4 Other mutual funds 3 3 Total 100 % 100 % The Bank did not contribute in 2024 and does not expect to contribute in 2025 to the Cash Balance Plan. The Bank contributed $2 million in 2024 and expects to contribute de minimis amounts in 2025 to the non-qualified defined benefit plans and postretirement health benefit plan. The following are the estimated future benefit payments, which reflect expected future service, as appropriate: (In millions) Year Cash Balance Non-Qualified 2025 $ 5 $ — 2026 5 1 2027 5 1 2028 6 1 2029 42 3 Years 2030-2034 27 11 Defined Contribution Plans Retirement Savings Plan. The Bank sponsors a qualified defined contribution retirement 401(k) savings plan, the Federal Home Loan Bank of San Francisco Savings Plan (Savings Plan). Contributions to the Savings Plan consist of elective participant contributions of up to 75% of each participant's base compensation and a Bank matching contribution of up to 6% of each participant's base compensation. The Bank contributed approximately $3 million during each of the years ended December 31, 2024, 2023, and 2022. Benefit Equalization Plan. The Bank sponsors a non-qualified retirement plan restoring benefits offered under the Savings Plan that have been limited by laws governing the plan. Contributions made to the plan during the years ended December 31, 2024, 2023, and 2022, were de minimis. Deferred Compensation Plan. The Bank maintains a deferred compensation plan that is available to all eligible Bank employees. The defined contribution portion of the plan consists of two components: (i) employee or director deferral of current compensation, and (ii) make-up matching contributions for employees that would have been made by the Bank under the Savings Plan had the compensation not been deferred. The make-up benefits under the Deferred Compensation Plan vest according to the corresponding provisions of the Savings Plan. The Deferred Compensation Plan liability consists of the accumulated compensation deferrals and accrued earnings on the deferrals, as well as the make-up matching contributions and any accrued earnings on the contributions. The Bank’s obligation for this plan at December 31, 2024 and 2023, was $63 million and $58 million, respectively. Incentive Compensation Plans The Bank provides incentive compensation plans for all employees. Other liabilities include $15 million and $16 million for incentive compensation at December 31, 2024 and 2023, respectively.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Cybersecurity Risk Management and Strategy The Bank is subject to cybersecurity risks, which includes intentional and unintentional acts that may affect the availability, confidentiality, and integrity of our information systems, including any information residing therein, or services. The Bank has, in alignment with industry standards and Finance Agency regulatory guidance, implemented processes, as set forth in its cybersecurity risk management framework, for identifying, assessing, and managing material risks from cybersecurity incidents that may directly or indirectly impact the Bank’s business strategy, results of operations, or financial condition. Please refer to “Item 1.A Risk Factors - Operational Risks” for a description of potential cybersecurity threat risks. The Bank’s cybersecurity risk management framework is designed to protect the confidentiality, integrity, and availability of the Bank’s information technology assets and data. The Bank utilizes the cybersecurity risk management concept of defense-in-depth and deploys multiple layers of controls across operations to manage the multi-faceted nature of cybersecurity risk. Cybersecurity risk management is part of the Bank’s Enterprise Risk Management program which includes pre-established risk appetite statements that outline the various risk indicators and their respective risk tolerance levels for the monitoring, assessing, mitigation, and reporting associated with those risks. The Bank’s Information Security program is designed to evaluate our cybersecurity infrastructure and performance on an on-going basis through regular control assessments, vulnerability scans and remediation, penetration tests, and threat intelligence feeds that enable the program to effectively identify, prioritize, and mitigate cybersecurity risks. The Bank attempts to mitigate cybersecurity risk using an array of activities, including the Bank’s Information Security Policy, information security training, periodic cybersecurity incident tabletop exercises, adequate cybersecurity insurance coverage levels, the Bank’s Cybersecurity Incident Response Plan, and the Bank’s business continuity management program focusing on the continuance of the Bank’s operations in the event of a threat or incident. The Bank’s Enterprise Risk Committee annually reviews and approves the Bank’s Information Security Policy. The Bank’s Information Security Policy establishes administrative, technical, and physical safeguards designed to protect the security, confidentiality, and integrity of Bank information in accordance with Finance Agency regulation, the Gramm-Leach-Bliley Act and the interagency guidelines issued thereunder, and applicable laws. The Bank develops mitigation plans, monitors tactical implementation of the policy, and engages in detailed risk assessments comprising the Bank’s Information Security Program overseen by the Bank’s Enterprise Risk and Technology & Operations Committees. The Bank’s Enterprise Risk and Technology & Operations Committees report to the Board. The Bank’s Cybersecurity Incident Response Plan determines how cybersecurity incidents are identified, classified, and escalated, including for the purposes of reporting, and providing relevant information to senior management and the Board. The Bank’s Cybersecurity Incident Response Plan also stipulates management assess the materiality of the incident for the purposes of public disclosure. The business continuity management program is designed to oversee and implement resilience, continuity, and response capabilities to safeguard employees, customers, and products and services and minimize the financial loss to the Bank, ensure employee safety, and continue uninterrupted service to shareholders during a disruption event, which may include a cybersecurity related event. The business continuity management program provides for the restoration of facilities, communications, information technology systems, temporary relocation of personnel, and other components necessary for the continuity of critical Bank processes. The business continuity management program is overseen by the Board. The Bank retains external consultants to assist in the development and monitoring of those processes for identifying, assessing, and managing cybersecurity incidents and threat risks. The Bank’s Cybersecurity Incident Response Plan also facilitates management of third-party cybersecurity incidents. As part of the Bank’s vendor management process, the Bank undertakes due diligence of third-party systems that the Bank will interact with, including risk profiling and classification, in addition to requiring data protection covenants in its vendor agreements. The Bank’s vendor risk management program includes regular reviews and oversight of all service providers in accordance with a risk profile classification. The Bank reviews performance, technologies utilized by vendors, and promotes escalation of any unsatisfactory reviews as part of Bank’s continuous assessment of its vendors. During the period covered by this report, risks from cybersecurity threats did not have a material impact on the Bank’s business strategy, results of operations, or financial condition. The Bank updated its information security strategy during the period covered by this report in response to the increasing volume of cybersecurity threats, both to the Bank and to third parties such as suppliers and vendors. The Bank has experienced cybersecurity incidents and threats in the past, though none have had a material effect on the Bank’s financial condition or results of operations.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	The Enterprise Risk Committee is responsible for reviewing and recommending the approval of the Information Security Policy by the Board. The Enterprise Risk Committee provides independent and integrated oversight of the Bank’s Information Security program and security exceptions and violations. The Bank’s Technology & Operations Committee is responsible for reviewing the Bank’s security awareness and physical security procedures and implementation reports, provides guidance and monitors progress on major information security projects, and regulatory changes.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Cybersecurity Governance The Board, through its Enterprise Risk and Technology & Operations Committees, oversees the Bank’s Information Security and Enterprise Risk Management programs, which include the Information Security Policy. The Board receives reports from the Enterprise Risk and Technology & Operations Committees, which are management committees composed of members of the Bank’s senior management responsible for management of risk and implementation of the cybersecurity risk management framework within the Risk Management Program as approved by the Board. The Board oversees management’s approach to staffing, policies, processes, and practices to measure and address cybersecurity and information security risk. The Enterprise Risk Committee is responsible for reviewing and recommending the approval of the Information Security Policy by the Board. The Enterprise Risk Committee provides independent and integrated oversight of the Bank’s Information Security program and security exceptions and violations. The Bank’s Technology & Operations Committee is responsible for reviewing the Bank’s security awareness and physical security procedures and implementation reports, provides guidance and monitors progress on major information security projects, and regulatory changes. The Bank’s dedicated Information Security Department, led by our Chief Information Security Officer, is comprised of specialized professionals responsible for the processes and procedures to design and implement protective, proactive and reactive measures to protect the Bank against cybersecurity risks, and for developing, documenting, and approving the Bank’s technical information security control standards, guidelines, and procedures designed to preserve the confidentiality, integrity, and availability of the Bank’s information technology assets and data under the Bank’s control. The Chief Information Security Officer’s expertise in cybersecurity includes holding a Bachelor of Science degree in Computer Engineering, a Master of Business Administration degree in Technology Management, and Information Systems Security Professional certification, along with decades of experience in information technology and cybersecurity. The Bank’s Enterprise Risk and Technology & Operations Committees receive regular, prompt, and periodic information from the Information Security Department, which in turn provides periodic, regular, and prompt reporting to the Enterprise Risk and Technology & Operations Committees of the Board on topics such as threat intelligence, major cybersecurity risk areas, technologies and best practices, and any cybersecurity incidents that may have impacted the Bank, as well as risk assessment, management, and monitoring updates, as applicable and as needed. Bank policies and processes are designed such that the Board would receive prompt and timely information from the Information Security Department or the Enterprise Risk Committee on any cybersecurity or information security incident or threat that may pose significant risk to the Bank and would continue to receive regular reports on any incident until its conclusion. At least quarterly, or more often, as necessary, the Board discusses cybersecurity and information security risks with the Bank’s Chief Information Security Officer.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Board, through its Enterprise Risk and Technology & Operations Committees, oversees the Bank’s Information Security and Enterprise Risk Management programs, which include the Information Security Policy. The Board receives reports from the Enterprise Risk and Technology & Operations Committees, which are management committees composed of members of the Bank’s senior management responsible for management of risk and implementation of the cybersecurity risk management framework within the Risk Management Program as approved by the Board. The Board oversees management’s approach to staffing, policies, processes, and practices to measure and address cybersecurity and information security risk.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Bank’s dedicated Information Security Department, led by our Chief Information Security Officer, is comprised of specialized professionals responsible for the processes and procedures to design and implement protective, proactive and reactive measures to protect the Bank against cybersecurity risks, and for developing, documenting, and approving the Bank’s technical information security control standards, guidelines, and procedures designed to preserve the confidentiality, integrity, and availability of the Bank’s information technology assets and data under the Bank’s control.
Cybersecurity Risk Role of Management [Text Block]	The Board receives reports from the Enterprise Risk and Technology & Operations Committees, which are management committees composed of members of the Bank’s senior management responsible for management of risk and implementation of the cybersecurity risk management framework within the Risk Management Program as approved by the Board. The Board oversees management’s approach to staffing, policies, processes, and practices to measure and address cybersecurity and information security risk. The Enterprise Risk Committee is responsible for reviewing and recommending the approval of the Information Security Policy by the Board. The Enterprise Risk Committee provides independent and integrated oversight of the Bank’s Information Security program and security exceptions and violations. The Bank’s Technology & Operations Committee is responsible for reviewing the Bank’s security awareness and physical security procedures and implementation reports, provides guidance and monitors progress on major information security projects, and regulatory changes. The Bank’s dedicated Information Security Department, led by our Chief Information Security Officer, is comprised of specialized professionals responsible for the processes and procedures to design and implement protective, proactive and reactive measures to protect the Bank against cybersecurity risks, and for developing, documenting, and approving the Bank’s technical information security control standards, guidelines, and procedures designed to preserve the confidentiality, integrity, and availability of the Bank’s information technology assets and data under the Bank’s control. The Chief Information Security Officer’s expertise in cybersecurity includes holding a Bachelor of Science degree in Computer Engineering, a Master of Business Administration degree in Technology Management, and Information Systems Security Professional certification, along with decades of experience in information technology and cybersecurity. The Bank’s Enterprise Risk and Technology & Operations Committees receive regular, prompt, and periodic information from the Information Security Department, which in turn provides periodic, regular, and prompt reporting to the Enterprise Risk and Technology & Operations Committees of the Board on topics such as threat intelligence, major cybersecurity risk areas, technologies and best practices, and any cybersecurity incidents that may have impacted the Bank, as well as risk assessment, management, and monitoring updates, as applicable and as needed.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Enterprise Risk Committee is responsible for reviewing and recommending the approval of the Information Security Policy by the Board. The Enterprise Risk Committee provides independent and integrated oversight of the Bank’s Information Security program and security exceptions and violations. The Bank’s Technology & Operations Committee is responsible for reviewing the Bank’s security awareness and physical security procedures and implementation reports, provides guidance and monitors progress on major information security projects, and regulatory changes. The Bank’s dedicated Information Security Department, led by our Chief Information Security Officer, is comprised of specialized professionals responsible for the processes and procedures to design and implement protective, proactive and reactive measures to protect the Bank against cybersecurity risks, and for developing, documenting, and approving the Bank’s technical information security control standards, guidelines, and procedures designed to preserve the confidentiality, integrity, and availability of the Bank’s information technology assets and data under the Bank’s control. The Chief Information Security Officer’s expertise in cybersecurity includes holding a Bachelor of Science degree in Computer Engineering, a Master of Business Administration degree in Technology Management, and Information Systems Security Professional certification, along with decades of experience in information technology and cybersecurity.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The Chief Information Security Officer’s expertise in cybersecurity includes holding a Bachelor of Science degree in Computer Engineering, a Master of Business Administration degree in Technology Management, and Information Systems Security Professional certification, along with decades of experience in information technology and cybersecurity.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Bank’s Enterprise Risk and Technology & Operations Committees receive regular, prompt, and periodic information from the Information Security Department, which in turn provides periodic, regular, and prompt reporting to the Enterprise Risk and Technology & Operations Committees of the Board on topics such as threat intelligence, major cybersecurity risk areas, technologies and best practices, and any cybersecurity incidents that may have impacted the Bank, as well as risk assessment, management, and monitoring updates, as applicable and as needed.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies / Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
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 is the accounting for derivatives and hedging activities. Actual results could differ significantly from these estimates.
Estimated Fair Values	Estimated Fair Values. A portion of the Bank’s financial instruments lack an available liquid trading market as characterized by frequent exchange transactions between a willing buyer and willing seller. Therefore, the Bank uses financial models employing significant assumptions and present value calculations for the purpose of determining estimated fair values. Thus, the fair values may not represent the actual values of the financial instruments that could have been realized as of yearend or that will be realized in the future. Fair values for certain financial instruments are based on quoted prices, market rates, or replacement rates for similar financial instruments as of the last business day of the year. The estimated fair values of the Bank’s financial instruments and related assumptions are detailed in Note 14 – Fair Value.
Investment, Policy	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. These investments provide short-term liquidity and are carried at cost. The Bank invests in federal funds sold with counterparties that are considered by the Bank to be of investment quality. Interest-bearing deposits include interest-bearing deposits in banks not meeting the definition of a security. Interest income on these investments is accrued as earned and recorded in interest income on the Statements of Income. Accrued interest receivable is recorded separately on the Statements of Condition. These investments are evaluated quarterly for expected credit losses. If applicable, an allowance for credit loss is recorded with a corresponding adjustment to the provision for/(reversal of) credit losses. The Bank treats securities purchased under agreements to resell as collateralized financing arrangements. A credit loss would be recognized if there is a collateral shortfall which the Bank does not believe the counterparty will replenish in accordance with its contractual terms. The credit loss would be limited to the difference between the fair value of the collateral and the investment’s amortized cost. See Note 4 – Investments for details on the allowance methodologies relating to interest-bearing deposits, securities purchased under agreements to resell, and federal funds sold. Investment Securities. The Bank classifies investments as trading, available-for-sale (AFS), or held-to-maturity (HTM) at the date of acquisition. Within these investments, the Bank is primarily subject to credit risk related to private-label residential mortgage-backed securities (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. Purchases and sales of securities are recorded on a trade date basis. The Bank classifies certain investments as trading. These securities are held for liquidity purposes and carried at fair value with changes in the fair value of these investments recorded in other income/(loss). The Bank does not participate in speculative trading practices and holds these investments indefinitely as the Bank periodically evaluates its liquidity needs. The Bank classifies certain securities as AFS and carries these securities at their fair value. Unrealized gains and losses on these securities are recognized in accumulated other comprehensive income (AOCI). HTM securities are carried at cost, adjusted for periodic principal repayments, amortization of premiums and accretion of discounts. The Bank classifies these investments as HTM securities because the Bank has the positive intent and ability to hold these securities until maturity. Certain changes in circumstances may cause the Bank to change its intent to hold a certain security to maturity without calling into question its intent to hold other debt securities to maturity in the future. Thus, the sale or transfer of an HTM security because of certain changes in circumstances, such as evidence of significant deterioration in the issuer's creditworthiness or changes in regulatory requirements, is not considered to be inconsistent with its original classification. Other events that are isolated, nonrecurring, and unusual for the Bank that could not have been reasonably anticipated may cause the Bank to sell or transfer an HTM security without calling into question its intent to hold other debt securities to maturity. In addition, sales of debt securities that meet either of the following two conditions may be considered as maturities for purposes of the classification of securities: (i) the sale occurs near enough to its maturity date (or call date if exercise of the call is probable) that interest rate risk is substantially eliminated as a pricing factor and changes in market interest rates would not have a significant effect on the security's fair value, or (ii) the sale occurs after the Bank has already collected a substantial portion (at least 85%) of the principal outstanding at acquisition because of prepayments on the debt security or scheduled payments on a debt security payable in equal installments over its term. The Bank calculates the amortization of purchase premiums and accretion of purchase discounts on investments using the level-yield method on a retrospective basis over the estimated life of the securities. This method requires a retrospective adjustment of the effective yield each time the Bank changes the estimated life as if the new estimate had been known since the original acquisition date of the securities. The Bank uses nationally recognized, market-based, third-party prepayment models to project estimated lives. On a quarterly basis, the Bank evaluates its individual AFS investment securities in an unrealized loss position for impairment. A security is considered impaired when its fair value is less than its amortized cost basis. With respect to any debt security, a credit loss is defined as the amount by which the amortized cost basis exceeds the present value of the cash flows expected to be collected. If a credit loss exists but the entity does not intend to sell the debt security and it is not more likely than not that the entity will be required to sell the debt security before the anticipated recovery of its remaining amortized cost basis (the amortized cost basis less any current-period credit loss), an allowance for credit losses is recorded with a corresponding adjustment to the provision for/(reversal of) credit losses. The allowance is limited by the amount of the unrealized loss. Accrued interest receivable is recorded separately on the Statements of Condition. If management intends to sell an impaired security classified as AFS, or more likely than not will be required to sell the security before expected recovery of its amortized cost basis, any allowance for credit losses is written off and the amortized cost basis is written down to the security’s fair value at the reporting date with any incremental impairment reported in earnings as net unrealized gain/(loss) on AFS securities. If management does not intend to sell an impaired security classified as AFS and it is not more likely than not that management will be required to sell the debt security, then the credit portion of the difference is recognized as an allowance for credit losses and any remaining difference between the security’s fair value and amortized cost is recorded to net unrealized gain/(loss) on AFS securities within other comprehensive income/(loss). On a quarterly basis, the Bank evaluates its HTM investment securities for expected credit losses on a pool basis unless an individual assessment is deemed necessary because the securities do not possess similar risk characteristics. If necessary, an allowance for credit losses is recorded with a corresponding adjustment to the provision for/(reversal of) credit losses. For improvements in impaired HTM securities with an allowance for credit losses, the allowance for credit losses associated with recoveries may be derecognized up to its full amount. Accrued interest receivable is recorded separately on the Statements of Condition. The allowance for credit losses excludes uncollectible accrued interest receivable, which is measured separately. See Note 4 – Investments for details on the allowance methodologies relating to AFS and HTM securities. To determine whether an allowance for credit loss is necessary on PLRMBS, the Bank uses cash flow analyses. 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 expected 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.
Derivatives, Offsetting Fair Value Amounts, Policy	Financial Instruments Meeting Netting Requirements. The Bank presents certain financial instruments, including derivative instruments and securities purchased under agreements to resell, on a net basis when they have a legal right of offset and all other requirements for netting are met (collectively referred to as the netting requirements). The Bank has elected to offset its derivative asset and liability positions, as well as cash collateral received or pledged, when the netting requirements are met. The Bank did not have any offsetting liabilities related to its securities purchased under agreements to resell for the periods presented.
Consolidation, Variable Interest Entity, Policy	Variable Interest Entities. The Bank’s investments in variable interest entities (VIEs) relate to PLRMBS. On an ongoing basis, the Bank performs a quarterly evaluation to determine whether it is the primary beneficiary in any VIE. As the Bank does not have the power to significantly affect the economic performance of these investments, the Bank determined that it is not a primary beneficiary of any of these VIEs and concluded that consolidation accounting is not required as of December 31, 2024. In addition, the Bank does not design, sponsor, transfer, service, or provide credit liquidity support in any of its investments in VIEs. The Bank’s maximum loss exposure for these investments is limited to the carrying value.
Federal Home Loan Bank Advances, Policy [Policy Text Block]	Advances. The Bank reports advances (loans to members, former members or their successors, or housing associates) either at amortized cost or at fair value when the fair value option is elected. Advances carried at amortized cost are evaluated quarterly for expected credit losses and reported net of hedging adjustments. The Bank recognizes hedging adjustments resulting from the discontinuation of a hedging relationship to interest income using a level-yield methodology. Interest on advances is credited to income as earned. For advances carried at fair value, the Bank recognizes contractual interest in interest income. Accrued interest receivable is recorded separately on the Statements of Condition. The advances carried at amortized cost are evaluated quarterly for expected credit losses. If deemed necessary, an allowance for credit losses is recorded with a corresponding adjustment to the provision for/(reversal of) credit losses. See Note 5 – Advances for details on the allowance methodologies relating to advances. Advance Modifications. In cases in which the Bank funds an advance concurrent with or within a short period of time before or after the prepayment of a previous advance to the same member, at market rates, the subsequent advance is accounted for as a new advance. The Bank does not issue advances at non-market rates. If a member makes a request for a modification to an existing advance, the Bank compares the present value of the cash flows on the modified advance to the present value of the cash flows remaining on the original advance. If there is at least a 10% difference in the present value of cash flows or if the Bank concludes the difference between the advances is more than minor based on a qualitative assessment of the modifications made to the original contractual terms, then the advance is accounted for as a new advance. In all other instances, the new advance is accounted for as a modification. Modification requests with a difference in cash flows that is more than minor are not accepted by the Bank. Prepayment Fees. When a borrower prepays certain advances prior to the original maturity, the Bank may charge the borrower a prepayment fee. 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. The Bank no longer offers advances with partial prepayment symmetry. For prepaid advances that are hedged and meet the hedge accounting requirements, the Bank terminates the hedging relationship upon prepayment and records the associated fair value gains and losses, adjusted for the prepayment fees, in interest income. If a new advance represents a modification of an original hedged advance, the fair value gains or losses on the advance and the prepayment fees are included in the carrying amount of the modified advance, and gains or losses and prepayment fees are amortized in interest income over the life of the modified advance using the level-yield method. If the modified advance is also hedged and the hedge meets the hedge accounting requirements, the modified advance is marked to fair value after the modification, and subsequent fair value changes are recorded in interest income on advances. If the prepayment represents an extinguishment of the original hedged advance, the prepayment fee and any fair value gain or loss are immediately recognized in interest income.
Mortgage Loans Held for Portfolio	Mortgage Loans Held for Portfolio. Under the Mortgage Partnership Finance® (MPF®) Program, the Bank purchased from members, for its own portfolio, conventional conforming fixed rate mortgage loans under the MPF Traditional product. After June 30, 2021, the Bank no longer directly purchases, or facilitates the purchase of, mortgage loans from our members. The Bank classifies mortgage loans as held for portfolio and, accordingly, reports them at their principal amount outstanding net of unamortized premiums, unamortized credit enhancement fees paid as a lump sum at the time loans are purchased, discounts, and unrealized gains and losses from loans initially classified as mortgage loan commitments. The Bank aggregates the mortgage loans by similar characteristics (type, maturity, interest rate, and acquisition date) in determining prepayment estimates. A retrospective adjustment is required each time the Bank changes the estimated amounts as if the new estimate had been known since the original acquisition date of the assets. The Bank uses nationally recognized, market-based, third-party prepayment models to project estimated lives. The Bank performs a quarterly assessment of its mortgage loans held for portfolio to estimate expected credit losses. An allowance for credit losses is recorded with a corresponding adjustment to the provision for/(reversal of) credit losses. The Bank measures expected credit losses on mortgage loans on a loan-level basis, factoring in the credit enhancement structure at the master commitment level. When developing the allowance for credit losses, the Bank measures the estimated loss over the remaining life of a mortgage loan, which also considers how the Bank’s credit enhancements mitigate credit losses. The Bank includes estimates of expected recoveries within the allowance for credit losses. If a loan is purchased at a discount, the discount does not offset the allowance for credit losses. Accrued interest receivable is recorded separately on the Statements of Condition. The allowance excludes uncollectible accrued interest receivable, as the Bank writes off accrued interest receivable by reversing interest income if a mortgage loan is placed on nonaccrual status. 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. The Bank places a mortgage loan on nonaccrual status when the collection of the contractual principal or interest from the participating financial institution is doubtful, when the collection of the contractual principal or interest from the participating financial institution is reported 90 days or more past due, or when the loan is in foreclosure, except when the loan is well-secured (e.g., through credit enhancements) and in the process of collection. Loans that are on nonaccrual status and that are considered collateral-dependent are measured for credit losses based on the fair value of the underlying property less estimated selling costs. Loans are considered collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be substantially through the sale of the underlying collateral; that is, if it is considered likely that the borrower will default and there is no credit enhancement to offset losses under the master commitment, or the collectability or availability of credit enhancement is deemed to be uncertain. Collateral-dependent loans are credit deteriorated if the fair value of the underlying collateral less estimated selling costs is insufficient to recover the unpaid principal balance on the loan. When a mortgage loan is placed on nonaccrual status, accrued but uncollected interest is reversed against interest income. The Bank records cash payments received on nonaccrual loans first as interest income and then as a reduction of principal as specified in the contractual agreement, unless the collection of the remaining principal amount due is considered doubtful. If the collection of the remaining principal amount due is considered doubtful, then cash payments received would be applied first solely to principal until the remaining principal amount due is expected to be collected and then as a recovery of any charge-off, if applicable, followed by recording interest income. A loan on nonaccrual status may be restored to accrual when (1) none of its contractual principal and interest is due and unpaid, and the Bank expects repayment of the remaining contractual interest and principal, or (2) it otherwise becomes well secured and in the process of collection. All loan modifications are evaluated to determine whether a modification made to a borrower results in a new loan or is a continuation of the existing loan. An MPF loan that shares similar risk characteristics with other loans is evaluated for credit losses on a collective basis. MPF loans that do not share risk characteristics with other loans are individually evaluated for credit losses. MPF loans that are identified for individual evaluation are either delinquent or classified as nonaccrual, in process of foreclosing on the collateral, or have been modified in response to a borrower’s financial difficulty. Credit loss is measured by factoring in expected cash flow shortfalls incurred as of the reporting date, as well as the economic loss attributable to delaying the original contractual principal and interest due dates, if applicable. For all mortgage loans that are more than 180 days past due and that have any outstanding balance in excess of the fair value of the property, less costs to sell, the excess is charged off at the end of the month. The Bank did not purchase mortgage loans with credit deterioration present at the time of purchase. See Note 6 – Mortgage Loans Held for Portfolio for details on the allowance methodologies relating to mortgage loans.
Other Fees	Other Fees.
Derivatives and Hedging Activities	Derivatives and Hedging Activities. All derivatives are recognized on the Statements of Condition at their fair values, including accrued interest, net of cash collateral received from or pledged to clearing agents or counterparties, including accrued interest, and are reported as either derivative assets or derivative liabilities. The fair values of derivatives are netted by clearing agent or counterparty when the netting requirements have been met. If these netted amounts are positive, they are classified as an asset, and if negative, they are classified as a liability. Cash flows associated with derivatives are reflected as cash flows from operating activities in the Statements of Cash Flows unless the derivative meets the criteria to be a financing derivative. The Bank uses London Clearing House (LCH) Ltd for all cleared derivative transactions. The rulebook of LCH Ltd characterizes variation margin as daily settlement payments, and initial margin is considered cash collateral. Each derivative is designated as one of the following: (1) a qualifying hedge of the change in fair value of (i) a recognized asset or liability or (ii) an unrecognized firm commitment (a fair value hedge); or (2) a non-qualifying hedge of an asset or liability for asset-liability management purposes or of certain advances and consolidated obligation bonds for which the Bank elected the fair value option (an economic hedge). If hedging relationships meet certain criteria, including but not limited to formal documentation of the hedging relationship and an expectation to be hedge effective, they are eligible for hedge accounting, and the offsetting changes in fair value of the hedged items attributable to the hedged risk may be recorded in earnings. The application of hedge accounting generally requires the Bank to evaluate the effectiveness of the hedging relationships at inception and on an ongoing basis and to calculate the changes in fair value of the derivatives and the related hedged items independently. This is known as the long-haul method of hedge accounting. Derivatives are typically executed at the same time as the hedged item, and the Bank designates the hedged item in a qualifying hedge relationship as of the trade date. In many hedging relationships, the Bank may designate the hedging relationship upon its commitment to disburse an advance or trade a consolidated obligation in which settlement occurs within the shortest period of time possible for the type of instrument based on market settlement conventions. The Bank records the changes in the fair value of the derivatives and the hedged item beginning on the trade date. Changes in the fair value of a derivative that is designated as a fair value hedge, along with changes in the fair value of the hedged asset or liability (hedged item) that are attributable to the hedged risk (including changes that reflect gains or losses on firm commitments), are recorded in net interest income in the same line as the earnings effect of the hedged item. Net gains and losses on derivatives and hedging activities for qualifying hedges recorded in net interest income include unrealized and realized gains and losses, which include net interest settlements. For AFS securities that have been hedged and qualify as a fair value hedge, the Bank records the portion of the change in the fair value of the investment related to the risk being hedged in interest income together with the related change in the fair value of the derivative, and records the remainder of the change in the fair value of the investment in Accumulated Other Comprehensive Income (AOCI) as “Net unrealized gain/(loss) on AFS securities.” The Bank hedges the benchmark risk component of cash flows in a fair value hedge. Changes in the fair value of a derivative designated as an economic hedge are recorded in current period earnings with no fair value adjustment to an asset or liability. An economic hedge is defined as a derivative hedging certain advances and consolidated obligation bonds for which the Bank elected the fair value option, or hedging specific or non-specific underlying assets, liabilities, or firm commitments, that does not qualify or was not designated for fair value hedge accounting, but is an acceptable hedging strategy under the Bank's risk management program. These economic hedging strategies also comply with Finance Agency regulatory requirements prohibiting speculative hedge transactions. An economic hedge introduces the potential for earnings variability caused by the changes in fair value of the derivatives that are recorded in the Bank's income but are not offset by corresponding changes in the value of the economically hedged assets, liabilities, or firm commitments. Changes in the fair value of these non-qualifying hedges are recorded in other income/(loss) as “Net gain/(loss) on derivatives.” In addition, the net interest settlements associated with these non-qualifying hedges are recorded in other income/(loss) as “Net gain/(loss) on derivatives.” Cash flows associated with these stand-alone derivatives are reflected as cash flows from operating activities in the Statements of Cash Flows unless the derivative meets the criteria to be designated as a financing derivative. The Bank discontinues hedge accounting prospectively when: (i) it determines that the derivative is no longer highly effective in offsetting changes in the fair value of a hedged item (including hedged items such as firm commitments or forecasted transactions); (ii) the derivative or the hedged item expires or is sold, terminated, or exercised; (iii) it is no longer probable that the forecasted transaction will occur in the originally expected period; (iv) a hedged firm commitment no longer meets the definition of a firm commitment; (v) it determines that designating the derivative as a hedging instrument is no longer appropriate; (vi) a critical term on the hedged item changes; or (vii) it decides to use the derivative to offset changes in the fair value of other derivatives or instruments carried at fair value. When hedge accounting is discontinued, the Bank either terminates the derivative or continues to carry the derivative on the Statements of Condition at its fair value, ceases to adjust the hedged asset or liability for changes in fair value, and amortizes the cumulative basis adjustment on the hedged item into earnings over the remaining life of the hedged item using a level-yield methodology. When hedge accounting is discontinued because the hedged item no longer meets the definition of a firm commitment, the Bank continues to carry the derivative on the Statements of Condition at its fair value, removing from the Statements of Condition any asset or liability that was recorded to recognize the firm commitment and recording it as a gain or loss in current period earnings. The Bank may be the primary obligor on consolidated obligations and may make advances in which derivative instruments are embedded. Upon execution of these transactions, the Bank assesses whether the economic characteristics of the embedded derivative are clearly and closely related to the economic characteristics of the remaining component of the advance or debt (the host contract) and whether a separate, non-embedded instrument with the same terms as the embedded instrument would meet the definition of a derivative instrument. When it is determined that: (i) the embedded derivative has economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, and (ii) a separate, stand-alone instrument with the same terms would qualify as a derivative instrument, the embedded derivative is separated from the host contract, carried at fair value, and designated as a stand-alone derivative instrument equivalent to an economic hedge. However, the entire contract is carried on the Statements of Condition at fair value and no portion of the contract is designated as a hedging instrument if the entire contract (the host contract and the embedded derivative) is to be measured at fair value, with changes in fair value reported in current period earnings (such as an investment security classified as trading, as well as hybrid financial instruments that are eligible for the fair value option), or if the Bank cannot reliably identify and measure the embedded derivative for purposes of separating the derivative from its host contract.
Premises, Software, and Equipment	Premises, Software, and Equipment . Premises, software, and equipment are included in other assets on the Statements of Condition. The Bank records premises, software, and equipment at cost less accumulated depreciation and amortization.
Consolidated Obligations	Consolidated Obligations. Consolidated obligations are recorded at amortized cost unless the Bank has elected the fair value option, in which case the consolidated obligations are carried at fair value. Consolidated obligations, consisting of bonds and discount notes, are jointly issued by the 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 “Note 15 – Commitments and Contingencies.” 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. Consolidated obligation bonds may be issued to raise short-, intermediate-, and long-term funds for the FHLBanks. The maturity of consolidated obligation bonds generally ranges from 6 months to 15 years, but the maturity is not subject to any statutory or regulatory limits. Consolidated obligation discount notes are primarily used to raise short-term funds. These notes are issued at less than their face amount and redeemed at par value when they mature. Regulations require the FHLBanks to maintain, for the benefit of investors in consolidated obligations, in the aggregate, unpledged qualifying assets in an amount equal to the consolidated obligations outstanding. Qualifying assets are defined as cash; secured advances; assets with an assessment or credit rating at least equivalent to the current assessment or credit rating of the consolidated obligations; obligations, participations, mortgages, or other securities of or issued by the United States or an agency of the United States; and such securities as fiduciary and trust funds may invest in under the laws of the state in which the FHLBank is located. Any assets subject to a lien or pledge for the benefit of holders of any issue of consolidated obligations are treated as if they were free from lien or pledge for the purposes of compliance with these regulations
Mandatorily Redeemable Capital Stock	Mandatorily Redeemable Capital Stock. The Bank reclassifies the capital stock subject to redemption from capital to a liability after a member provides the Bank with a written notice of redemption; gives notice of intention to withdraw from membership; attains nonmember status by merger or acquisition, charter termination, or other involuntary membership termination; or after a receiver or other liquidating agent for a member transfers the member's Bank capital stock to a nonmember entity, resulting in the member's shares then meeting the definition of a mandatorily redeemable financial instrument. Shares meeting this definition are reclassified to a liability at fair value. Dividends declared on shares classified as a liability are accrued at the expected dividend rate and reflected as interest expense in the Statements of Income. The repayment of these mandatorily redeemable financial instruments (by repurchase or redemption of the shares) is reflected as a financing cash outflow in the Statements of Cash Flows once settled. See Note 11 – Capital for more information. If a member cancels its written notice of redemption or notice of withdrawal or if the Bank allows the transfer of mandatorily redeemable capital stock to a member, the Bank reclassifies mandatorily redeemable capital stock from a liability to capital. After the reclassification, dividends on the capital stock are no longer classified as interest expense.
Off-Balance-Sheet Credit Exposure	Off-Balance Sheet Credit Exposures.
Finance Agency Expenses	Finance Agency Expenses.
Office Of Finance Expenses	Office of Finance Expenses. Each FHLBank is assessed a proportionate share of the cost of operating the Office of Finance, which facilitates the issuance and servicing of consolidated obligations. The Office of Finance allocates its operating and capital expenditures among the FHLBanks as follows: (1) two-thirds of the assessment is based on each FHLBank’s share of total consolidated obligations outstanding, and (2) one-third of the assessment is based on an equal pro rata allocation.
Affordable Housing Program	Affordable Housing Program Assessment. As more fully discussed in Note 9 – Affordable Housing Program, the FHLBank Act requires each FHLBank to establish and fund an AHP. The Bank charges the required funding for the AHP to earnings and establishes a liability. The AHP funds provide subsidies to members to assist in the purchase, construction, or rehabilitation of housing for households earning up to 80% of the median income for the area in which they live. Subsidies may be in the form of direct grants or below-market interest rate advances. Segment Reporting . The Bank engages in business activities to provide funding, liquidity, and services to members. The Bank manages these operations as one operating segment. The Bank’s primary business is providing advances to its members and certain qualifying housing associates. In addition, the Bank maintains a portfolio of investments and mortgage loans. The primary source of funding is the sale of FHLBank System consolidated obligations in the capital markets. The Bank is capitalized through the purchase of capital stock by its members. The Bank’s net income is primarily attributable to the difference between the interest income earned on advances and investments, and the interest expense paid on consolidated obligations. The Bank manages risk and monitors financial performance across the entire balance sheet. As such, the Bank’s quantitative disclosures related to its segment are disclosed within the Statements of Income and Statements of Condition. The chief operating decision maker (CODM) is the interim president and chief executive officer. The CODM assesses performance and allocation of resources primarily based on net interest income derived from total assets and total liabilities as reported in the Statements of Condition, and net income as reported in the Bank’s Statements of Income. These measures are used for benchmarking and budget analysis. Other items, including significant expenses, such as compensation and benefits, other operating expense, and voluntary housing and community investment contributions, reported to the CODM include those reported in the Bank’s Statements of Income and notes to the financial statements.
New Accounting Pronouncements	Accounting Standards Update (ASU) Description Effective Date Effect on the Financial Statements or Other Significant Matters Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07) This guidance improves reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses, including if an entity only has a single reportable segment. This guidance became effective for the Bank for the annual period ended December 31, 2024, and for interim and annual periods thereafter. The adoption of this guidance did not have any effect on the Bank’s financial condition, results of operations, or cash flows, and did not have a material effect on the Bank’s disclosures. Disaggregation of Income Statement Expenses (ASU 2024-03) This update requires disclosure, in the notes to the financial statements, of specified information about certain costs and expenses on an interim and annual basis. This guidance becomes effective for the Bank for the annual period ending December 31, 2027, and for interim and annual periods thereafter. Early adoption is permitted. The Bank does not intend to adopt this guidance early. The adoption of this guidance may affect the Bank’s disclosures but it will not have any effect on the Bank’s financial condition, results of operations, or cash flows.
Derivatives Credit 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 margin and settle variation margin through a clearing agent to the clearing house exposes the Bank to institutional credit risk if its futures commission merchant, or 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 futures commission merchant default credit events. Variation margin is settled 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.
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, the issuance of consolidated obligations, or the investment in fixed rate assets to create variable rate structures. The interest rate exchange agreements are generally executed at the same time the advances, consolidated obligations, and investments 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. Some of these banks and broker-dealers or their affiliates buy, sell, and distribute consolidated obligations. Derivatives may be either uncleared or cleared. In an uncleared derivative transaction, the Bank’s counterparty is the executing bank or broker-dealer. In a cleared derivative transaction, the Bank may execute the transaction with an executing bank or broker-dealer, either on or off a swap execution facility, but in either case, the Bank’s counterparty is a derivatives clearing organization (clearing house) once the derivative transaction has been accepted for clearing. The Bank is not a derivatives dealer and does not trade derivatives for short-term profit. Additional uses of interest rate exchange agreements include: (i) offsetting embedded features in assets and liabilities, (ii) hedging anticipated issuance of debt, (iii) matching against consolidated obligation discount notes to create the equivalent of callable or non-callable fixed rate debt, (iv) modifying the repricing frequency of assets and liabilities, (v) matching against certain advances and consolidated obligations for which the Bank elected the fair value option, and (vi) exactly offsetting other derivatives cleared at a clearing house. The Bank’s use of interest rate exchange agreements results in one of the following classifications: (i) a fair value hedge of an underlying financial instrument or (ii) an economic hedge of assets, liabilities, or other derivatives. The Bank primarily uses interest rate swaps, which are agreements between two entities to exchange cash flows in the future. The agreement sets the dates on which the cash flows will be paid and the manner in which the cash flows will be calculated. One of the simplest forms of an interest rate swap involves the promise by one party to pay cash flows equivalent to the interest on a notional principal amount at a predetermined fixed rate for a given period of time. In return for this promise, the party receives cash flows equivalent to the interest on the same notional principal amount at a variable rate for the same period of time. The variable rate received or paid by the Bank in most interest rate exchange agreements is based on a daily repricing index, such as the Secured Overnight Financing Rate (SOFR) or the effective federal funds rate (EFFR). Hedging Activities. The Bank documents at inception all relationships between derivatives designated as hedging instruments and hedged items, its risk management objectives and strategies for undertaking various hedge transactions, and its method of assessing hedge effectiveness. Derivatives designated as fair value hedges may be transacted to hedge: (i) assets and liabilities on the Statements of Condition, (ii) firm commitments, or (iii) forecasted transactions. The Bank also formally assesses (both at hedge inception and on an ongoing basis) whether the hedging derivatives have been effective in offsetting changes in the fair value of hedged items attributable to the hedged risk and whether those derivatives may be expected to remain effective hedges in future periods. The Bank typically uses regression analyses or other statistical analyses to assess the effectiveness of its hedges. When it is determined that a derivative has not been or is not expected to be effective as a hedge, the Bank discontinues hedge accounting prospectively. The Bank may have the following types of hedged items: Investments – The Bank may invest in U.S. Treasury and agency obligations as well as agency MBS. In the past, the Bank has also invested in PLRMBS rated AAA at the time of acquisition. The interest rate and prepayment risk associated with these investment securities is managed through a combination of debt issuance and derivatives. The Bank may manage prepayment risk and interest rate risk by funding investment securities with consolidated obligations that have call features or with a combination of consolidated obligations and callable swaps. This type of hedge is treated as either a fair value hedge or an economic hedge. The Bank may also execute callable swaps in conjunction with the issuance of certain liabilities to create funding that is economically equivalent to fixed rate callable debt. This type of hedge is treated as an economic hedge. Investment securities may be classified as trading, AFS, or HTM. The Bank may also manage the risk arising from changing market prices or cash flows of investment securities classified as trading or AFS by entering into interest rate exchange agreements that offset the changes in fair value or cash flows of the securities. Hedge relationships that involve AFS securities are designated as fair value hedges. For AFS securities that have been hedged and qualify as a fair value hedge, the Bank records the portion of the change in the fair value of the investment related to the risk being hedged in interest income together with the related change in the fair value of the derivative, and records the remainder of the change in the fair value of the investment in AOCI as “Net unrealized gain/(loss) on AFS securities.” Advances – The Bank offers a wide range of advances structures to meet members’ funding needs. These advances may have maturities up to 30 years with fixed or adjustable rates and may include early termination features or options. The Bank may use derivatives to adjust the repricing and options characteristics of advances to more closely match the characteristics of the Bank’s funding liabilities. In general, whenever a member executes a fixed rate advance, fixed rate advance with embedded options, or a variable rate advance with embedded options, the Bank will simultaneously execute an interest rate exchange agreement with terms that offset the terms and any embedded options in the advance. The combination of the advance and the interest rate exchange agreement effectively creates a variable rate asset. Fixed rate advances without options that are offset with an interest rate exchange agreement are generally treated as fair value hedges. Advances with embedded options are recorded using the fair value option and are economically hedged using interest rate exchange agreements. Mortgage Loans – Prior to June 30, 2021, the Bank invested in fixed rate mortgage loans. The prepayment options embedded in mortgage loans can result in extensions or contractions in the expected repayment of these investments, depending on changes in estimated prepayment speeds. The Bank manages the interest rate risk and prepayment risk associated with fixed rate mortgage loans through a combination of debt issuance and derivatives. The Bank uses both callable and non-callable debt to achieve cash flow patterns and market value sensitivities for liabilities similar to those expected on the mortgage loans. Net income could be reduced if the Bank replaces prepaid mortgage loans with lower-yielding assets and the Bank’s higher funding costs are not reduced accordingly. The Bank may execute callable swaps in conjunction with the issuance of short-term or adjustable rate consolidated obligations to create funding that is economically equivalent to fixed rate callable bonds. This type of hedge is treated as an economic hedge. Consolidated Obligations – Consolidated obligation bonds may be structured to meet the Bank’s or the investors’ needs. Common structures include fixed rate bonds with or without call options and adjustable rate bonds with or without embedded options. In general, when bonds are issued, the Bank simultaneously executes an interest rate exchange agreement with terms that offset the terms and embedded options, if any, of the consolidated obligation bond. This combination of the consolidated obligation bond and the interest rate exchange agreement effectively creates an adjustable rate bond. These transactions generally receive fair value hedge accounting treatment. When the Bank issues consolidated obligation discount notes, it may also simultaneously enter into an interest rate exchange agreement to convert the fixed rate discount note to an adjustable rate discount note. This type of hedge is treated as either a fair value hedge or an economic hedge. In addition, when certain consolidated obligation bonds for which the Bank has elected the fair value option are issued, the Bank simultaneously executes an interest rate exchange agreement with terms that economically offset the terms of the consolidated obligation bond. However, this type of hedge is treated as an economic hedge because these combinations do not meet the requirements for fair value hedge accounting treatment. Offsetting Derivatives – The Bank enters into derivatives to offset the economic effect of other derivatives that are no longer designated to advances, investments, or consolidated obligations. Offsetting derivatives do not receive hedge accounting treatment and are separately marked to market through earnings. The net result of the accounting for these derivatives does not significantly affect the operating results of the Bank. The notional amount of an interest rate exchange agreement serves as a factor in determining periodic interest payments or cash flows received and paid. However, the notional amount of derivatives represents neither the actual amounts exchanged nor the overall exposure of the Bank to credit risk and market risk. The risks of derivatives can be measured meaningfully on a portfolio basis by taking into account the counterparties, the types of derivatives, the items being hedged, and any offsets between the derivatives and the items being hedged.
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).
Stockholders' Equity, Policy	Capital Requirements. The Bank issues a single class of capital stock, Class B stock, with a par value of $100 per share, which may be redeemed (subject to certain conditions) upon five years' notice by the member to the Bank. In addition, at its discretion, under certain conditions, the Bank may repurchase excess stock at any time (see “Excess Stock” below for more information). The Bank’s capital stock may be issued, redeemed, and repurchased only at its stated par value, subject to certain statutory and regulatory requirements. The Bank may only redeem or repurchase capital stock from a shareholder if, following the redemption or repurchase, the shareholder will continue to meet its minimum capital stock requirement and the Bank will continue to meet its regulatory requirements for total capital, leverage capital, and risk-based capital. Under the Housing and Economic Recovery Act of 2008, the Director of the Finance Agency is responsible for setting the risk-based capital standards for the FHLBanks. 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. The Bank must maintain: (i) total regulatory capital in an amount equal to at least 4% of its total assets, (ii) leverage capital in an amount equal to at least 5% of its total assets, and (iii) permanent capital in an amount that is greater than or equal to its risk-based capital requirement. The Finance Agency requires each FHLBank to maintain a ratio of at least 2% of capital stock to total assets in order to help preserve the cooperative structure incentives that encourage members to remain fully engaged in the oversight of their investment in the FHLBank. The Finance Agency will consider the proportion of capital stock to assets, measured on a daily average basis at monthend, when assessing each FHLBank’s capital management practices. As of December 31, 2024 and 2023, the Bank complied with this capital guidance. Because the Bank issues only Class B stock, regulatory capital and permanent capital for the Bank are both composed of retained earnings and Class B stock, including mandatorily redeemable capital stock (which is classified as a liability for financial reporting purposes). Regulatory capital and permanent capital do not include AOCI. Leverage capital is defined as the sum of permanent capital, weighted by a 1.5 multiplier, plus non-permanent capital. The risk-based capital requirement is equal to the sum of the Bank’s credit risk, market risk, and operational risk capital requirements, all of which are calculated in accordance with the rules and regulations of the Finance Agency. The Finance Agency may require an FHLBank to maintain a greater amount of permanent capital than is required by the risk-based capital requirement as defined.
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 December 31, 2024: • Trading securities • AFS securities • Certain advances • Derivative assets and liabilities • Certain consolidated obligation bonds • Certain other assets The Bank elected the fair value option for certain financial instruments as follows: • Adjustable rate advances with embedded caps and floors; • Callable fixed rate advances; • Putable fixed rate advances; • Fixed rate advances with partial prepayment symmetry; • Callable or non-callable floating rate consolidated obligation bonds with embedded caps; • Convertible consolidated obligation bonds; • Adjustable or fixed rate range accrual consolidated obligation bonds; • Ratchet consolidated obligation bonds; • Adjustable rate advances indexed to certain indices such as the Prime Rate, U.S. Treasury bill, and EFFR; • Adjustable rate consolidated obligation bonds indexed to certain indices like the Prime Rate and U.S. Treasury bill; • Step-up callable bonds, which pay interest at increasing fixed rates for specified intervals over the life of the bond and can generally be called at the Bank’s option on the step-up dates according to the terms of the bond offerings; and • Step-down callable bonds, which pay interest at decreasing fixed rates for specified intervals over the life of the bond and can generally be called at the Bank’s option on the step-down dates according to the terms of the bond offerings. 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.
Cash and Cash Equivalents, Policy	Cash on hand, cash items in the process of collection, and amounts due from correspondent banks and the Federal Reserve Bank are included in Cash and due from banks on the Statements of Condition. Cash and due from banks includes certain compensating balances, where

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Available-for-sale Securities	AFS securities by major security type as of December 31, 2024 and 2023, were as follows: December 31, 2024 (In millions) Amortized Cost (1) Allowance for Credit Losses Gross Gross Estimated Fair Value U.S. Treasury obligations $ 6,506 $ — $ 4 $ — $ 6,510 MBS: Government Sponsored Enterprises (GSEs) – multifamily 12,790 — 62 (7) 12,845 PLRMBS 978 (30) 31 (22) 957 Total MBS 13,768 (30) 93 (29) 13,802 Total $ 20,274 $ (30) $ 97 $ (29) $ 20,312 December 31, 2023 (In millions) Amortized Cost (1) Allowance for Credit Losses Gross Gross Estimated Fair Value U.S. Treasury obligations $ 4,530 $ — $ 4 $ — $ 4,534 MBS: GSEs – multifamily 12,500 — 4 (83) 12,421 PLRMBS 1,075 (31) 35 (20) 1,059 Total MBS 13,575 (31) 39 (103) 13,480 Total $ 18,105 $ (31) $ 43 $ (103) $ 18,014 (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
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value	December 31, 2024 Less Than 12 Months 12 Months or More Total (In millions) Estimated Gross Unrealized Estimated Gross Unrealized Estimated Gross Unrealized MBS – GSEs – multifamily $ 1,350 $ 3 $ 668 $ 4 $ 2,018 $ 7 PLRMBS 62 3 244 19 306 22 Total $ 1,412 $ 6 $ 912 $ 23 $ 2,324 $ 29 December 31, 2023 Less Than 12 Months 12 Months or More Total (In millions) Estimated Gross Estimated Gross Unrealized Estimated Gross Unrealized MBS – GSEs – multifamily $ 7,517 $ 45 $ 3,525 $ 38 $ 11,042 $ 83 PLRMBS 30 1 283 19 313 20 Total $ 7,547 $ 46 $ 3,808 $ 57 $ 11,355 $ 103
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 December 31, 2024 and 2023, 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. December 31, 2024 (In millions) Year of Contractual Maturity Amortized Estimated U.S. Treasury obligations: Due in 1 year or less $ 3,181 $ 3,183 Due after 1 year through 5 years 3,325 3,327 Total U.S. Treasury obligations $ 6,506 $ 6,510 MBS 13,768 13,802 Total $ 20,274 $ 20,312 December 31, 2023 (In millions) Year of Contractual Maturity Amortized Estimated U.S. Treasury obligations: Due in 1 year or less $ 145 $ 145 Due after 1 year through 5 years 4,385 4,389 Total U.S. Treasury obligations 4,530 4,534 MBS 13,575 13,480 Total $ 18,105 $ 18,014
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: December 31, 2024 (In millions) Amortized Cost (1) Gross Unrecognized Holding Gains (2) Gross Unrecognized Holding Losses (2) Estimated MBS – Other U.S. obligations – single-family $ 29 $ — $ (1) $ 28 MBS – GSEs: MBS – GSEs – single-family 495 2 (13) 484 MBS – GSEs – multifamily 864 — (2) 862 Subtotal MBS – GSEs 1,359 2 (15) 1,346 PLRMBS 101 — (6) 95 Total $ 1,489 $ 2 $ (22) $ 1,469 December 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 $ 49 $ — $ (1) $ 48 MBS – GSEs: MBS – GSEs – single-family 605 1 (16) 590 MBS – GSEs – multifamily 1,069 — (5) 1,064 Subtotal MBS – GSEs 1,674 1 (21) 1,654 PLRMBS 124 — (8) 116 Total $ 1,847 $ 1 $ (30) $ 1,818 (1) Amortized cost includes unpaid principal balance, unamortized premiums and discounts, and net charge-offs, and excludes accrued interest receivable of $5 million and $6 million at December 31, 2024 and 2023, 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 PLRMBS classified as AFS for the years ended December 31, 2024, 2023, and 2022. The Bank recorded no allowance for credit losses associated with HTM securities during the years ended December 31, 2024, 2023, and 2022. (In millions) 2024 2023 2022 Balance, beginning of the period $ 31 $ 30 $ 17 (Charge-offs)/recoveries (1) (3) (2) Provision for/(reversal of) credit losses — 4 15 Balance, end of the period $ 30 $ 31 $ 30

Advances (Tables)

Advances (Tables)	12 Months Ended
	Dec. 31, 2024
Federal Home Loan Banks [Abstract]
Federal Home Loan Bank, Advances	Redemption Terms. The following table presents advances outstanding by redemption term and weighted-average interest rate at December 31, 2024 and 2023. (Dollars in millions) 2024 2023 Redemption Term Amount Outstanding (1) Weighted Amount Outstanding (1) Weighted Overdrawn demand and overnight deposit accounts $ — — % $ 2 5.15 % Within 1 year (2) 23,712 4.30 35,241 4.87 After 1 year through 2 years 11,067 3.81 12,532 3.88 After 2 years through 3 years 4,526 3.97 6,437 3.23 After 3 years through 4 years 3,264 4.13 2,548 3.62 After 4 years through 5 years 865 3.76 3,660 4.07 After 5 years 2,384 3.68 1,290 3.71 Total par value 45,818 4.09 % 61,710 4.38 % Valuation adjustments for hedging activities (198) (371) Valuation adjustments under fair value option 17 (4) Total $ 45,637 $ 61,335 (1) Carrying amounts exclude accrued interest receivable of $63 million and $85 million at December 31, 2024 and 2023, respectively. (2) Advances outstanding with redemption terms within three months totaled $15.1 billion and $16.8 billion at December 31, 2024 and 2023, respectively. The following table summarizes advances at December 31, 2024 and 2023, 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) 2024 2023 2024 2023 Overdrawn demand and overnight deposit accounts $ — $ 2 $ — $ 2 Within 1 year 26,023 35,561 27,676 36,115 After 1 year through 2 years 9,066 12,542 10,646 13,000 After 2 years through 3 years 4,526 6,437 3,487 6,149 After 3 years through 4 years 3,264 2,558 2,886 2,551 After 4 years through 5 years 855 3,660 398 2,917 After 5 years 2,084 950 725 976 Total par value $ 45,818 $ 61,710 $ 45,818 $ 61,710 Concentration Risk. The following tables present the concentration in advances to the top 10 borrowers and their affiliates at December 31, 2024 and 2023. The tables also present the interest income from these advances before the impact of interest rate exchange agreements hedging these advances for the years ended December 31, 2024 and 2023. December 31, 2024 (Dollars in millions) Name of Borrower Advances Percentage of Interest (1) Percentage of JPMorgan Chase, National Association (2) $ 9,315 20 % $ 731 33 % Western Alliance Bank 5,100 11 205 9 East West Bank 3,500 8 147 7 First Technology Federal Credit Union (3) 2,907 6 83 4 U.S. Bank, National Association (4) 2,050 5 47 2 SchoolsFirst Federal Credit Union 1,600 3 77 3 First Foundation Bank (5) 1,400 3 53 2 Bank of America California, National Association 1,150 3 72 3 Wescom Central Credit Union 1,140 3 52 2 Banc of California, National Association 1,100 2 24 1 Subtotal 29,262 64 1,491 66 Others 16,556 36 754 34 Total par value $ 45,818 100 % $ 2,245 100 % December 31, 2023 (Dollars in millions) Name of Borrower Advances Percentage of Interest (1) Percentage of JPMorgan Chase, National Association (2) $ 23,833 39 % $ 1,018 31 % Western Alliance Bank 6,200 10 199 6 City National Bank 3,000 5 353 11 First Technology Federal Credit Union (3) 2,414 4 132 4 U.S. Bank, National Association (4) 2,052 3 153 5 SchoolsFirst Federal Credit Union 1,823 3 48 1 Bank of America California, National Association 1,450 2 68 2 Luther Burbank Savings (3)(6) 1,152 2 44 1 Wells Fargo National Bank West 1,000 2 78 2 First Foundation Bank 900 1 46 1 Subtotal 43,824 71 2,139 64 Others 17,886 29 1,187 36 Total par value $ 61,710 100 % $ 3,326 100 % (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) A nonmember. On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) closed First Republic Bank and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. On the same date, the FDIC transferred all of the deposits and substantially all of the assets of First Republic Bank, including $28.1 billion in advances outstanding from the Bank, to JPMorgan Chase, National Association, a nonmember. These advances outstanding are fully collateralized and are not expected to result in any credit loss to the Bank. (3) An officer or director of the member was a Bank director during 2024 and 2023. (4) A nonmember. On December 1, 2022, U.S. Bancorp, a nonmember (the parent company of U.S. Bank, National Association), announced that it completed its acquisition of MUFG Union Bank, National Association. (5) An officer or director of the member was a Bank director during 2024. (6) On February 29, 2024, Washington Federal Bank, a nonmember, announced it completed its acquisition of Luther Burbank Savings. On the same date, Washington Federal Bank assumed all of the assets and liabilities of Luther Burbank Savings, including $1.2 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. Interest Rate Payment Terms. Interest rate payment terms for advances at December 31, 2024 and 2023, are detailed below: (In millions) 2024 2023 Par value of advances: Fixed rate: Due within 1 year $ 15,218 $ 23,866 Due after 1 year 20,101 26,467 Total fixed rate 35,319 50,333 Adjustable rate: Due within 1 year 8,494 11,377 Due after 1 year 2,005 — Total adjustable rate 10,499 11,377 Total par value $ 45,818 $ 61,710

Mortgage Loans Held for Portf_2

Mortgage Loans Held for Portfolio (Tables)	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	The following table presents information as of December 31, 2024 and 2023, on mortgage loans held for portfolio, all of which are secured by one- to four-unit residential properties and single-unit homes. (In millions) 2024 2023 Fixed rate medium-term mortgage loans (1) $ 10 $ 12 Fixed rate long-term mortgage loans (1) 648 704 Subtotal 658 716 Unamortized premiums 37 41 Unamortized discounts (1) (2) Mortgage loans held for portfolio (2) 694 755 Less: Allowance for credit losses (1) (1) Total mortgage loans held for portfolio, net $ 693 $ 754
Financing Receivable Credit Quality Indicators	The following table presents the payment status for mortgage loans and other delinquency statistics for the Bank’s mortgage loans at December 31, 2024 and 2023. (Dollars in millions) Payment Status, at Amortized Cost (1) 2024 2023 30 – 59 days delinquent $ 8 $ 5 60 – 89 days delinquent 2 4 90 days or more delinquent 17 16 Total past due 27 25 Total current loans 667 730 Total mortgage loans held for portfolio $ 694 $ 755 In process of foreclosure, included above (2) $ 1 $ 2 Nonaccrual loans (3) $ 17 $ 16 Serious delinquencies as a percentage of total mortgage loans outstanding (4) 2.48 % 2.17 % (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 December 31, 2024 and 2023, $5 million 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.

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2024
Deposits [Abstract]
Schedule of Deposit Liabilities by Component	Deposits outstanding as of December 31, 2024 and 2023, were as follows: (In millions) 2024 2023 Demand and overnight interest-bearing deposits $ 1,055 $ 957 Non-interest-bearing deposits 6 5 Total $ 1,061 $ 962

Consolidated Obligations (Table

Consolidated Obligations (Tables)	12 Months Ended
	Dec. 31, 2024
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 December 31, 2024 and 2023. (Dollars in millions) 2024 2023 Contractual Maturity Amount Weighted Amount Weighted Within 1 year $ 39,657 4.40 % $ 42,821 4.84 % After 1 year through 2 years 12,005 2.96 13,105 4.70 After 2 years through 3 years 1,920 2.62 5,938 1.34 After 3 years through 4 years 1,487 3.50 1,345 1.75 After 4 years through 5 years 2,706 4.35 942 2.98 After 5 years 777 2.76 826 2.35 Total par value 58,552 4.00 % 64,977 4.37 % Unamortized discounts (1) (6) Valuation adjustments for hedging activities (363) (645) Fair value option valuation adjustments (14) (29) Total $ 58,174 $ 64,297
Schedule of Long-term Debt by Call Feature	The Bank’s participation in consolidated obligation bonds at December 31, 2024 and 2023, was as follows: (In millions) 2024 2023 Par value of consolidated obligation bonds: Non-callable $ 40,207 $ 38,945 Callable 18,345 26,032 Total par value $ 58,552 $ 64,977
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 December 31, 2024 and 2023, by the earlier of the year of contractual maturity or next call date. (In millions) Earlier of Contractual 2024 2023 Within 1 year $ 49,795 $ 55,291 After 1 year through 2 years 7,608 9,160 After 2 years through 3 years 1,101 378 After 3 years through 4 years 12 100 After 4 years through 5 years 9 12 After 5 years 27 36 Total par value $ 58,552 $ 64,977
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: (Dollars in millions) Carrying Value Par Value Weighted Average Interest Rate (1) December 31, 2024 $ 14,378 $ 14,460 4.41 % December 31, 2023 $ 19,187 $ 19,321 5.23 %
Schedule of Interest Rate Payment Terms for Debt	Interest rate payment terms for consolidated obligation bonds at December 31, 2024 and 2023, are detailed in the following table. (In millions) 2024 2023 Par value of consolidated obligation bonds: Fixed rate $ 23,410 $ 37,464 Adjustable rate 34,692 26,880 Step-up 450 633 Total consolidated obligation bonds, par value $ 58,552 $ 64,977

Affordable Housing Program (Tab

Affordable Housing Program (Tables)	12 Months Ended
	Dec. 31, 2024
Federal Home Loan Banks [Abstract]
Activity in Affordable Housing Program Obligation	The AHP liability was as follows: (In millions) 2024 2023 2022 Balance, beginning of the period $ 133 $ 111 $ 115 AHP assessments 52 63 36 AHP voluntary contributions 9 — — AHP grant payments (54) (41) (40) Balance, end of the period $ 140 $ 133 $ 111 Voluntary contributions to support other housing and community investments (non-AHP) are recorded on the Combined Statements of Income. The following table presents a rollforward of the voluntary contribution liability balance (non-AHP): (In millions) 2024 2023 2022 Balance, beginning of the period $ — $ — $ — Voluntary housing and community investment contributions, net of AHP voluntary contributions 32 16 3 Voluntary housing and community investment payments (32) (16) (3) Balance, end of the period $ — $ — $ —

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in AOCI for the years ended December 31, 2024, 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 pension and postretirement benefits (6) (6) Net change in fair value (354) (354) Net current period other comprehensive income/(loss) (354) (6) (360) Balance, December 31, 2022 $ (14) $ (15) $ (29) Other comprehensive income/(loss): Net change in pension and postretirement benefits 4 4 Net change in fair value (47) (47) Net current period other comprehensive income/(loss) (47) 4 (43) Balance, December 31, 2023 $ (61) $ (11) $ (72) Other comprehensive income/(loss): Net change in pension and postretirement benefits 6 6 Net change in fair value 129 129 Net current period other comprehensive income/(loss) 129 6 135 Balance, December 31, 2024 $ 68 $ (5) $ 63

Capital (Tables)

Capital (Tables)	12 Months Ended
	Dec. 31, 2024
Banking Regulation, Total Capital [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations	As of December 31, 2024 and 2023, the Bank complied with these capital rules and requirements as shown in the following table. 2024 2023 (Dollars in millions) Required Actual Required Actual Risk-based capital $ 1,058 $ 7,272 $ 1,210 $ 7,446 Total regulatory capital $ 3,269 $ 7,272 $ 3,713 $ 7,446 Total regulatory capital ratio 4.00 % 8.90 % 4.00 % 8.02 % Leverage capital $ 4,087 $ 10,908 $ 4,641 $ 11,169 Leverage ratio 5.00 % 13.35 % 5.00 % 12.03 %
Schedule of Mandatorily Redeemable Capital Stock	The Bank had mandatorily redeemable capital stock totaling $331 million outstanding to seven institutions at December 31, 2024, and $706 million outstanding to six institutions at December 31, 2023. These amounts have been classified as a liability on the Bank’s Statements of Condition. The changes in mandatorily redeemable capital stock for the years ended December 31, 2024, 2023, and 2022, were as follows: (In millions) 2024 2023 2022 Balance at the beginning of the period $ 706 $ 5 $ 3 Reclassified from/(to) capital during the period 36 1,252 46 Repurchase/redemption (411) (551) (44) Balance at the end of the period $ 331 $ 706 $ 5
Schedule of Mandatorily Redeemable Capital Stock by Maturity Date	The following table presents mandatorily redeemable capital stock amounts by contractual year of redemption at December 31, 2024 and 2023. (In millions) Contractual Year of Redemption 2024 2023 Year 2 $ 1 $ — Year 3 3 1 Year 4 309 2 Year 5 18 702 Past contractual redemption date because of remaining activity (1) — 1 Total $ 331 $ 706 (1) Represents mandatorily redeemable capital stock that is past the end of the contractual redemption period because there is activity outstanding to which the mandatorily redeemable capital stock relates.
Schedules of Concentration of Risk in Capital Stock	Concentration. No institution held 10% or more of the Bank’s outstanding capital stock, including mandatorily redeemable capital stock, as of December 31, 2024. JPMorgan Chase, National Association, a nonmember, held $643 million, or 20% of the Bank’s outstanding capital stock, including mandatorily redeemable capital stock, as of December 31, 2023.

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2024
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 December 31, 2024 and 2023. For purposes of this disclosure, the derivative values include the fair value of derivatives and related accrued interest. 2024 2023 (In millions) Notional Derivative Derivative Notional Derivative Derivative Derivatives designated as hedging instruments: Interest rate swaps $ 76,005 $ 713 $ 399 $ 90,088 $ 795 $ 705 Derivatives not designated as hedging instruments: Interest rate swaps 13,871 39 59 27,349 36 87 Total derivatives before netting and collateral adjustments $ 89,876 752 458 $ 117,437 831 792 Netting adjustments and cash collateral (1) (722) (450) (815) (790) Total derivative assets and total derivative liabilities $ 30 $ 8 $ 16 $ 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 $210 million and $353 million at December 31, 2024 and 2023, respectively. Cash collateral received, including accrued interest, was $482 million and $378 million at December 31, 2024 and 2023, 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 years ended December 31, 2024, 2023, and 2022. (In millions) 2024 2023 2022 Derivatives not designated as hedging instruments Gain/(Loss) Gain/(Loss) Gain/(Loss) Economic hedges: Interest rate swaps $ 16 $ (26) $ 34 Net interest settlements 40 5 (42) Total net gain/(loss) related to derivatives not designated as hedging instruments 56 (21) (8) Price alignment amount (1) (3) (4) (1) Net gain/(loss) on derivatives $ 53 $ (25) $ (9) (1) This amount relates to derivatives for which variation margin on cleared derivatives is characterized as a daily settled contract.
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 years ended December 31, 2024, 2023, and 2022. 2024 Interest Income/(Expense) (In millions) Advances AFS Securities Consolidated Obligation Bonds Consolidated Obligations Discount Notes (2) Total interest income/(expense) presented in the Statements of Income $ 2,767 $ 1,186 $ (3,143) $ (767) Gain/(loss) on fair value hedging relationships Derivatives (1) $ 360 $ 655 $ (209) $ 1 Hedged items 159 (258) (281) (4) Net gain/(loss) on derivatives and hedging activities recorded in net interest income $ 519 $ 397 $ (490) $ (3) 2023 Interest Income/(Expense) (In millions) Advances AFS Securities Consolidated Obligation Bonds Total interest income/(expense) presented in the Statements of Income $ 3,999 $ 921 $ (3,901) Gain/(loss) on fair value hedging relationships Derivatives (1) $ 117 $ 91 $ (138) Hedged items 230 230 (438) Net gain/(loss) on derivatives and hedging activities recorded in net interest income $ 347 $ 321 $ (576) 2022 Interest Income/(Expense) (In millions) Advances AFS Securities Consolidated Obligation Bonds Total interest income/(expense) presented in the Statements of Income $ 1,226 $ 408 $ (715) Gain/(loss) on fair value hedging relationships Derivatives (1) $ 814 $ 1,202 $ (1,038) Hedged items (804) (1,247) 944 Net gain/(loss) on derivatives and hedging activities recorded in net interest income $ 10 $ (45) $ (94) (1) Includes net interest settlements. (2) There were no fair value hedging relationships on consolidated obligation discount notes during the years ended December 31, 2023 and 2022.
Schedule of Derivative Instruments By Type, Gain (Loss) in Statement of Financial Performance	The following tables present the cumulative basis adjustments on hedged items designated as fair value hedges and the related amortized cost of the hedged items as of December 31, 2024 and 2023. 2024 (In millions) Advances AFS Securities Consolidated Obligation Bonds Consolidated Obligation Discount Notes (2) Amortized cost of hedged asset/(liability) (1) $ 24,880 $ 19,296 $ (22,142) $ (9,702) Fair value hedging basis adjustments: Active hedging relationships included in amortized cost $ (230) $ (1,191) $ 364 $ (4) Discontinued hedging relationships included in amortized cost 32 512 — — Total amount of fair value hedging basis adjustments $ (198) $ (679) $ 364 $ (4) 2023 (In millions) Advances AFS Securities Consolidated Obligation Bonds Amortized cost of hedged asset/(liability) (1) $ 38,338 $ 17,029 (34,121) Fair value hedging basis adjustments: Active hedging relationships included in amortized cost $ (427) $ (1,053) 645 Discontinued hedging relationships included in amortized cost 56 621 — Total amount of fair value hedging basis adjustments $ (371) $ (432) $ 645 (1) Includes only the portion of amortized cost representing the hedged items in fair value hedging relationships. (2) There were no fair value hedging relationships on consolidated obligation discount notes at December 31, 2023.
Schedule of Derivative Instruments, Offsetting Derivative Assets	The following table presents 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 December 31, 2024 and 2023. 2024 2023 (In millions) Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Derivative instruments meeting netting requirements Gross recognized amount Uncleared $ 730 $ 452 $ 826 $ 778 Cleared 22 6 5 14 Total gross recognized amount 752 458 831 792 Gross amount of netting adjustments and cash collateral Uncleared (729) (444) (814) (776) Cleared 7 (6) (1) (14) Total gross amounts of netting adjustments and cash collateral (722) (450) (815) (790) Total derivative assets and total derivative liabilities $ 30 $ 8 $ 16 $ 2 Net amount (1) Uncleared $ 1 $ 8 $ 12 $ 2 Cleared 29 — 4 — Total net amount $ 30 $ 8 $ 16 $ 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 December 31, 2024 and 2023, the Bank had additional net exposure of $504 million and $771 million, respectively, due to instances where non-cash collateral to a counterparty exceeded the Bank’s net derivative position.
Schedule of Derivative Instruments, Offsetting Derivative Liabilities	The following table presents 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 December 31, 2024 and 2023. 2024 2023 (In millions) Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Derivative instruments meeting netting requirements Gross recognized amount Uncleared $ 730 $ 452 $ 826 $ 778 Cleared 22 6 5 14 Total gross recognized amount 752 458 831 792 Gross amount of netting adjustments and cash collateral Uncleared (729) (444) (814) (776) Cleared 7 (6) (1) (14) Total gross amounts of netting adjustments and cash collateral (722) (450) (815) (790) Total derivative assets and total derivative liabilities $ 30 $ 8 $ 16 $ 2 Net amount (1) Uncleared $ 1 $ 8 $ 12 $ 2 Cleared 29 — 4 — Total net amount $ 30 $ 8 $ 16 $ 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 December 31, 2024 and 2023, the Bank had additional net exposure of $504 million and $771 million, respectively, due to instances where non-cash collateral to a counterparty exceeded the Bank’s net derivative position.

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2024
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 December 31, 2024 and 2023. 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. 2024 (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 $ 2 $ 2 $ 2 $ — $ — $ — Interest-bearing deposits 3,765 3,765 3,765 — — — Securities purchased under agreements to resell 7,750 7,750 — 7,750 — — Federal funds sold 1,645 1,645 — 1,645 — — AFS securities 20,312 20,312 — 19,355 957 — HTM securities 1,489 1,469 — 1,374 95 — Advances 45,637 45,596 — 45,596 — — Mortgage loans held for portfolio 693 576 — 576 — — Accrued interest receivable 181 181 — 181 — — Derivative assets, net (2) 30 30 — 752 — (722) Other assets (3) 17 17 17 — — — Liabilities Deposits 1,061 1,061 — 1,061 — — Consolidated obligations: Bonds 58,174 57,985 — 57,985 — — Discount notes 14,378 14,376 — 14,376 — — Total consolidated obligations 72,552 72,361 — 72,361 — — Mandatorily redeemable capital stock 331 331 331 — — — Accrued interest payable 412 412 — 412 — — Derivative liabilities, net (2) 8 8 — 458 — (450) 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 5 5 5 — — — Interest-bearing deposits 2,922 2,922 2,922 — — — Securities purchased under agreements to resell 3,650 3,650 — 3,650 — — Federal funds sold 3,861 3,861 — 3,861 — — AFS securities 18,014 18,014 — 16,955 1,059 — HTM securities 1,847 1,818 — 1,702 116 — Advances 61,335 61,216 — 61,216 — — Mortgage loans held for portfolio 754 634 — 634 — — Accrued interest receivable 184 184 — 184 — — Derivative assets, net (2) 16 16 — 831 — (815) Other assets (3) 17 17 17 — — — Liabilities Deposits 962 962 — 962 — — Consolidated obligations: Bonds 64,297 64,037 — 64,037 — — Discount notes 19,187 19,182 — 19,182 — — Total consolidated obligations 83,484 83,219 — 83,219 — — Mandatorily redeemable capital stock 706 706 706 — — — Accrued interest payable 520 520 — 520 — — Derivative liabilities, net (2) 2 2 — 792 — (790) (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) Includes 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 December 31, 2024 and 2023, by level within the fair value hierarchy. December 31, 2024 Fair Value Measurement Using: Netting Adjustments and Cash Collateral (1) (In millions) Level 1 Level 2 Level 3 Total Recurring fair value measurements – Assets: AFS securities: U.S. Treasury obligations $ — $ 6,510 $ — $ — $ 6,510 MBS: GSEs – multifamily — 12,845 — — 12,845 PLRMBS — — 957 — 957 Subtotal AFS MBS — 12,845 957 — 13,802 Total AFS securities — 19,355 957 — 20,312 Advances (2) — 5,286 — — 5,286 Derivative assets, net: interest rate-related — 752 — (722) 30 Other assets 17 — — — 17 Total recurring fair value measurements – Assets $ 17 $ 25,393 $ 957 $ (722) $ 25,645 Recurring fair value measurements – Liabilities: Consolidated obligation bonds (3) $ — $ 436 $ — $ — $ 436 Derivative liabilities, net: interest rate-related — 458 — (450) 8 Total recurring fair value measurements – Liabilities $ — $ 894 $ — $ (450) $ 444 Nonrecurring fair value measurements – Assets: (4) Impaired mortgage loans held for portfolio $ — $ — $ 1 $ — $ 1 Total nonrecurring fair value measurements – Assets $ — $ — $ 1 $ — $ 1 December 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: U.S. Treasury obligations $ — $ 4,534 $ — $ — $ 4,534 MBS: GSEs – multifamily — 12,421 — — 12,421 PLRMBS — — 1,059 — 1,059 Subtotal AFS MBS — 12,421 1,059 — 13,480 Total AFS securities — 16,955 1,059 — 18,014 Advances (2) — 1,898 — — 1,898 Derivative assets, net: interest rate-related — 831 — (815) 16 Other assets 17 — — — 17 Total recurring fair value measurements – Assets $ 17 $ 19,684 $ 1,059 $ (815) $ 19,945 Recurring fair value measurements – Liabilities: Consolidated obligation bonds (3) $ — $ 604 $ — $ — $ 604 Derivative liabilities, net: interest rate-related — 792 — (790) 2 Total recurring fair value measurements – Liabilities $ — $ 1,396 $ — $ (790) $ 606 Nonrecurring fair value measurements – Assets: (4) Impaired mortgage loans held for portfolio $ — $ — $ 22 $ — $ 22 Total nonrecurring fair value measurements – Assets $ — $ — $ 22 $ — $ 22 (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 December 31, 2024 and 2023. (3) Represents consolidated obligation bonds recorded under the fair value option at December 31, 2024 and 2023. (4) The fair value information presented is as of the date the fair value adjustment was recorded during the years ended December 31, 2024 and 2023.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	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 years ended December 31, 2024, 2023, and 2022. (In millions) 2024 2023 2022 Balance, beginning of the period $ 1,059 $ 1,182 $ 1,608 Total gain/(loss) realized and unrealized included in: Interest income 12 33 55 (Provision for)/reversal of credit losses — (4) (14) Other income/(loss) — — 28 Unrealized gain/(loss) included in AOCI (5) (15) (146) Settlements (109) (139) (366) Transfers of HTM securities to AFS securities — 2 17 Balance, end of the period $ 957 $ 1,059 $ 1,182 Total amount of unrealized gain/(loss) for the period included in AOCI relating to assets held at the end of the period $ (5) $ (15) $ (146) 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 $ 29 $ 41
Fair Value, Option, Quantitative Disclosures	The following table presents the net gain/(loss) recognized in earnings on advances and consolidated obligation bonds held under fair value option for the years ended December 31, 2024, 2023, and 2022: (In millions) 2024 2023 2022 Advances $ 4 $ 28 $ (119) Consolidated obligation bonds (16) (29) 54 Total $ (12) $ (1) $ (65) 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 December 31, 2024 and 2023: 2024 2023 (In millions) Principal Balance Fair Value Fair Value Principal Balance Fair Value Fair Value Advances (1) $ 5,269 $ 5,286 $ 17 $ 1,902 $ 1,898 $ (4) Consolidated obligation bonds 450 436 (14) 633 604 (29) (1) At December 31, 2024 and 2023, 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)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Off-Balance Sheet Commitments	Off-balance sheet commitments as of December 31, 2024 and 2023, were as follows: 2024 2023 (In millions) Expire Within Expire After Total Total Standby letters of credit outstanding $ 9,966 $ 9,531 $ 19,497 $ 19,418 Commitments to fund additional advances 5 — 5 —

Transactions with Certain Mem_2

Transactions with Certain Members, Certain Nonmembers, and Other FHLBanks (Tables)	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Transactions with Certain Members and Nonmembers	(In millions) December 31, 2024 December 31, 2023 Assets: Advances $ 5,713 $ 5,762 Mortgage loans held for portfolio 70 74 Accrued interest receivable 9 5 Liabilities: Deposits $ 16 $ 34 Capital: Capital Stock $ 190 $ 191 (In millions) 2024 2023 2022 Interest Income: Advances $ 192 $ 271 $ 114 Mortgage loans held for portfolio 3 3 1 Interest Expense: Deposits 1 1 — All transactions with members, nonmembers, and their affiliates are entered into in the ordinary course of business.

Employee Retirement Plans and_2

Employee Retirement Plans and Incentive Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)	Amounts recognized in AOCI for the defined benefit Cash Balance Plan, the non-qualified defined benefit plans, and postretirement health benefit plan at December 31, 2024 and 2023, consist of: 2024 2023 (In millions) Cash Balance Non-Qualified Defined Benefit Plans Postretirement Health Benefit Plan Cash Balance Postretirement Health Benefit Plan Net loss/(gain) $ 8 $ (2) $ (1) $ 12 $ (1)
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets	The following table presents obligations and funded status of retirement plans at December 31, 2024 and 2023. 2024 2023 (In millions) Cash Balance Plan Non-Qualified Defined Benefit Plans Postretirement Health Benefit Plan Cash Balance Plan Non-Qualified Defined Benefit Plans Postretirement Health Benefit Plan Projected benefit obligation $ 83 $ 15 $ 1 $ 80 $ 15 $ 1 Accumulated benefit obligation 83 14 1 80 15 1 Fair value of plan assets 101 — — 96 — — Funded/(unfunded) status 18 (15) (1) 16 (15) (1)
Defined Benefit Plan, Plan Assets, Category	The table below presents the fair values of the Cash Balance Plan's assets as of December 31, 2024 and 2023, by asset category. See Note 14 – Fair Value for further information regarding the three levels of fair value measurement. 2024 2023 (In millions) Fair Value Measurement Using: Fair Value Measurement Using: Asset Category Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 3 $ — $ — $ 3 $ 1 $ — $ — $ 1 Equity mutual funds 61 — — 61 59 — — 59 Fixed income mutual funds 30 — — 30 29 — — 29 Real estate mutual funds 4 — — 4 4 — — 4 Other mutual funds 3 — — 3 3 — — 3 Total $ 101 $ — $ — $ 101 $ 96 $ — $ — $ 96
Schedule of Allocation of Plan Assets	The Cash Balance Plan's weighted average asset allocation at December 31, 2024 and 2023, by asset category was as follows: Asset Category 2024 2023 Cash and cash equivalents 2 % 1 % Equity mutual funds 61 62 Fixed income mutual funds 30 30 Real estate mutual funds 4 4 Other mutual funds 3 3 Total 100 % 100 %
Schedule of Expected Benefit Payments	The following are the estimated future benefit payments, which reflect expected future service, as appropriate: (In millions) Year Cash Balance Non-Qualified 2025 $ 5 $ — 2026 5 1 2027 5 1 2028 6 1 2029 42 3 Years 2030-2034 27 11

Summary of Significant Accoun_3

Summary of Significant Accounting Policies Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Difference in cash flows to classify as a new advance	10%
Substantial portion of principal outstanding collected	85%
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	$ 22	$ 26
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	81	76
Depreciation, Depletion and Amortization	$ 5	$ 5	$ 6
Property, Plant and Equipment [Line Items]
Number of Operating Segments | segment	1
Number of Reportable Segments | segment	1
Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years

Cash and Due from Banks (Detail

Cash and Due from Banks (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash and Due from Banks [Abstract]
Average collected cash balances with commercial banks	$ 7	$ 10

Investments Narrative (Details)

Investments Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments [Line Items]
Available-for-sale Securities, Premiums	$ 51	$ 58
Available for sale Securities Discounts	(175)	(191)
Debt securities, available-for-sale, amortized cost, allowance for credit loss, excluding accrued interest	$ 30	$ 31	$ 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	3%	4%
Provision for/(reversal of) credit losses	$ 0	$ 4	15
Total net accretion or amortization recognized in interest income associated with PLRMBS with previous credit losses to the prior methodology	12	34	55
Fair Value Of Held to maturity Securities Transferred To Available For Sale Securities		2	20
Amortized Cost Of Held to maturity Securities Transferred To Available For Sale Securities		2	$ 17
Interest-bearing deposits
Investments [Line Items]
Allowance for Credit Loss	0	0
Accrued Interest, after Allowance for Credit Loss	15	16
Fed Funds Sold
Investments [Line Items]
Allowance for Credit Loss	0	0
Accrued Interest, after Allowance for Credit Loss		2
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
Mortgage Backed Securities
Investments [Line Items]
Held-to-maturity Securities, Premiums	2	2
Held-to-maturity Securities, Discounts	(2)	(3)
Debt securities, available-for-sale, amortized cost, allowance for credit loss, excluding accrued interest	30	31
Available-for-sale Securities | Mortgage Backed Securities
Investments [Line Items]
Allowance for credit losses on AFS	293	312
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

Investments AFS Securities by M

Investments AFS Securities by Major Type (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized cost of AFS	[1]	$ 20,274	$ 18,105
Allowance for Credit Losses		(30)	(31)	$ (30)	$ (17)
Gross Unrealized Gains		97	43
Gross Unrealized Losses		(29)	(103)
Fair Value of AFS Securities	[2]	20,312	18,014
Available-for-Sale, Accrued Interest, after Allowance for Credit Loss		$ 92	68
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		$ 6,506	4,530
Allowance for Credit Losses		0	0
Gross Unrealized Gains		4	4
Gross Unrealized Losses		0	0
Fair Value of AFS Securities		6,510	4,534
PLRMBS
Debt Securities, Available-for-sale [Line Items]
Amortized cost of AFS		978	1,075
Allowance for Credit Losses		(30)	(31)
Gross Unrealized Gains		31	35
Gross Unrealized Losses		(22)	(20)
Fair Value of AFS Securities		957	1,059
Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost of AFS	[1]	13,768	13,575
Allowance for Credit Losses		(30)	(31)
Gross Unrealized Gains		93	39
Gross Unrealized Losses		(29)	(103)
Fair Value of AFS Securities		13,802	13,480
Multifamily | MBS - GSEs
Debt Securities, Available-for-sale [Line Items]
Amortized cost of AFS		12,790	12,500
Allowance for Credit Losses		0	0
Gross Unrealized Gains		62	4
Gross Unrealized Losses		(7)	(83)
Fair Value of AFS Securities		$ 12,845	$ 12,421
[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	Dec. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less Than 12 Months: Estimated Fair Value	$ 1,412	$ 7,547
Less Than 12 Months: Unrealized Losses	6	46
12 Months or More: Estimated Fair Value	912	3,808
12 Months or More: Unrealized Losses	23	57
Unrealized Loss Position, Total Fair Value	2,324	11,355
Unrealized Loss Position, Total Accumulated Loss	29	103
Residential Mortgage Backed Securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less Than 12 Months: Estimated Fair Value	62	30
Less Than 12 Months: Unrealized Losses	3	1
12 Months or More: Estimated Fair Value	244	283
12 Months or More: Unrealized Losses	19	19
Unrealized Loss Position, Total Fair Value	306	313
Unrealized Loss Position, Total Accumulated Loss	22	20
Multifamily | MBS - GSEs
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less Than 12 Months: Estimated Fair Value	1,350	7,517
Less Than 12 Months: Unrealized Losses	3	45
12 Months or More: Estimated Fair Value	668	3,525
12 Months or More: Unrealized Losses	4	38
Unrealized Loss Position, Total Fair Value	2,018	11,042
Unrealized Loss Position, Total Accumulated Loss	$ 7	$ 83

Investments AFS by Contractual

Investments AFS by Contractual Maturity and Prepayment Fees (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized cost of AFS	[1]	$ 20,274	$ 18,105
Fair Value of AFS Securities	[2]	20,312	18,014
Other Than Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Due in 1 year or less - Amortized cost		3,181	145
Due in 1 year or less - Fair value		3,183	145
Due after 1 year through 5 years - Amortized cost		3,325	4,385
Due after 1 year through 5 years - Fair value		3,327	4,389
Amortized cost of AFS		6,506	4,530
Fair Value of AFS Securities		6,510	4,534
Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost of AFS	[1]	13,768	13,575
Fair Value of AFS Securities		$ 13,802	$ 13,480
[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		Dec. 31, 2024	Dec. 31, 2023
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity (HTM) securities (fair values of $1,469 and $1,818, respectively)	[1]	$ 1,489	$ 1,847
Gross Unrecognized Holding Gain	[2]	2	1
Gross Unrecognized Holding Loss	[2]	(22)	(30)
Fair value of held-to-maturity securities		1,469	1,818
HTM accrued interest, after allowance for credit loss		5	6
Other US Obligations
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity (HTM) securities (fair values of $1,469 and $1,818, respectively)		29	49
Gross Unrecognized Holding Gain		0	0
Gross Unrecognized Holding Loss		(1)	(1)
Fair value of held-to-maturity securities		28	48
MBS - GSEs
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity (HTM) securities (fair values of $1,469 and $1,818, respectively)	[1]	1,359	1,674
Gross Unrecognized Holding Gain	[2]	2	1
Gross Unrecognized Holding Loss	[2]	(15)	(21)
Fair value of held-to-maturity securities		1,346	1,654
PLRMBS
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity (HTM) securities (fair values of $1,469 and $1,818, respectively)	[1]	101	124
Gross Unrecognized Holding Gain	[2]	0	0
Gross Unrecognized Holding Loss	[2]	(6)	(8)
Fair value of held-to-maturity securities		95	116
Single Family [Member] | MBS - GSEs
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity (HTM) securities (fair values of $1,469 and $1,818, respectively)	[1]	495	605
Gross Unrecognized Holding Gain	[2]	2	1
Gross Unrecognized Holding Loss	[2]	(13)	(16)
Fair value of held-to-maturity securities		484	590
Multifamily | MBS - GSEs
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity (HTM) securities (fair values of $1,469 and $1,818, respectively)	[1]	864	1,069
Gross Unrecognized Holding Gain	[2]	0	0
Gross Unrecognized Holding Loss	[2]	(2)	(5)
Fair value of held-to-maturity securities		$ 862	$ 1,064
[1]Amortized cost includes unpaid principal balance, unamortized premiums and discounts, and net charge-offs, and excludes accrued interest receivable of $5 million and $6 million at December 31, 2024 and 2023, 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	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for Credit Loss [Abstract]
(Charge-offs)/recoveries	$ (1)	$ (3)	$ (2)
Provision for/(reversal of) credit losses	0	4	15
Debt securities, available-for-sale, amortized cost, allowance for credit loss, excluding accrued interest	$ 30	$ 31	$ 30	$ 17

Investments Significant Inputs

Investments Significant Inputs on PLRMBS (Details)	12 Months Ended
	Dec. 31, 2024
Significant Inputs on PLRMBS [Line Items]
Prepayment Weighted Average	9.10%
Default Rate Weighted Average	6.20%
Loss Severity Weighted Average	63.70%
Credit Enhancements Weighted Average	8.50%

Investments with previous credi

Investments with previous credit losses rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 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	$ 12	$ 34	$ 55

Transfers from HTM to AFS (Deta

Transfers from HTM to AFS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Amortized Cost Of Held to maturity Securities Transferred To Available For Sale Securities	$ 2	$ 17
Fair Value Of Held to maturity Securities Transferred To Available For Sale Securities	$ 2	$ 20

Advances (Narrative) (Details)

Advances (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	May 05, 2023	May 01, 2023
Advances [Line Items]
Advances with Full prepayment Symmetry Outstanding	$ 29,400	$ 39,800
Advances With Partial Prepayment Symmetry Outstanding	142	209
Advances, Par Value	45,818	61,710
Advances	45,637	61,335
First Republic Bank | JPMorgan Chase
Advances [Line Items]
Advances				$ 28,100
Luther Burbank Savings | Washington Federal Bank
Advances [Line Items]
Advances			$ 1,200
Federal Home Loan Bank Advances
Advances [Line Items]
Accrued interest receivable	63	85
Advances, Callable Option
Advances [Line Items]
Advances, Par Value	2,700	3,300
Advances, Putable Option
Advances [Line Items]
Advances, Par Value	$ 4,600	$ 1,400

Advances (Redemption Terms) (De

Advances (Redemption Terms) (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Federal Home Loan Bank, Advances [Line Items]
Mortgage loans held for portfolio, net of allowance for credit losses of $1 and $1, respectively		$ 693	$ 754
Advances (includes $5,286 and $1,898 at fair value under the fair value option, respectively)		45,637	61,335
Federal Home Loan Bank Advances, Maturities [Abstract]
Overdrawn demand and overnight deposit accounts		0	2
Within 1 year(2)		23,712	35,241
After 1 year through 2 years		11,067	12,532
After 2 years through 3 years		4,526	6,437
After 3 years through 4 years		3,264	2,548
After 4 years through 5 years		865	3,660
After 5 years		2,384	1,290
Total par value		45,818	61,710
Valuation adjustments for hedging activities		(198)	(371)
Valuation adjustments under fair value option	[1]	17	(4)
Total		$ 45,637	$ 61,335
Federal Home Loan Bank Advances, Weighted Average Interest Rate [Abstract]
Overdrawn Demand Deposit		0%	5.15%
Within 1 year		4.30%	4.87%
After 1 year through 2 years		3.81%	3.88%
After 2 years through 3 years		3.97%	3.23%
After 3 years through 4 years		4.13%	3.62%
After 4 years through 5 years		3.76%	4.07%
After 5 years		3.68%	3.71%
Total par value		4.09%	4.38%
Advances
Federal Home Loan Bank, Advances [Line Items]
Advances Outstanding, Redemption Terms Within Three Months		$ 15,100	$ 16,800
Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances [Line Items]
Accrued interest receivable		$ 63	$ 85
[1]At December 31, 2024 and 2023, 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	Dec. 31, 2024	Dec. 31, 2023
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	26,023	35,561
After 1 year through 2 years	9,066	12,542
After 2 years through 3 years	4,526	6,437
After 3 years through 4 years	3,264	2,558
After 4 years through 5 years	855	3,660
After 5 years	2,084	950
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put or Convert Date, Rolling Year, Par Value [Abstract]
Within 1 year	27,676	36,115
After 1 year through 2 years	10,646	13,000
After 2 years through 3 years	3,487	6,149
After 3 years through 4 years	2,886	2,551
After 4 years through 5 years	398	2,917
After 5 years	725	976
Total par value	$ 45,818	$ 61,710

Advances (Credit and Concentrat

Advances (Credit and Concentration Risk) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Advances [Line Items]
Advances Outstanding	$ 45,818	$ 61,710
Total Members
Advances [Line Items]
Advances Outstanding	45,818	61,710
Interest Income from Advances	$ 2,245	$ 3,326
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 | JPMorgan Chase
Advances [Line Items]
Advances Outstanding	$ 9,315	$ 23,833
Interest Income from Advances	$ 731	$ 1,018
Top ten borrowers | JPMorgan Chase | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage	20%	39%
Top ten borrowers | JPMorgan Chase | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage	33%	31%
Top ten borrowers | Western Alliance Bank
Advances [Line Items]
Advances Outstanding	$ 5,100	$ 6,200
Interest Income from Advances	$ 205	$ 199
Top ten borrowers | Western Alliance Bank | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage	11%	10%
Top ten borrowers | Western Alliance Bank | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage	9%	6%
Top ten borrowers | East West Bank
Advances [Line Items]
Advances Outstanding	$ 3,500
Interest Income from Advances	$ 147
Top ten borrowers | East West Bank | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage	8%
Top ten borrowers | East West Bank | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage	7%
Top ten borrowers | First Technology Federal Credit Union
Advances [Line Items]
Advances Outstanding	$ 2,907	$ 2,414
Interest Income from Advances	$ 83	$ 132
Top ten borrowers | First Technology Federal Credit Union | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage	6%	4%
Top ten borrowers | First Technology Federal Credit Union | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage	4%	4%
Top ten borrowers | U.S. Bank, National Association
Advances [Line Items]
Advances Outstanding	$ 2,050	$ 2,052
Interest Income from Advances	$ 47	$ 153
Top ten borrowers | U.S. Bank, National Association | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage	5%	3%
Top ten borrowers | U.S. Bank, National Association | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage	2%	5%
Top ten borrowers | SchoolsFirst Federal Credit Union
Advances [Line Items]
Advances Outstanding	$ 1,600	$ 1,823
Interest Income from Advances	$ 77	$ 48
Top ten borrowers | SchoolsFirst Federal Credit Union | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage	3%	3%
Top ten borrowers | SchoolsFirst Federal Credit Union | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage	3%	1%
Top ten borrowers | First Foundation Bank
Advances [Line Items]
Advances Outstanding	$ 1,400	$ 900
Interest Income from Advances	$ 53	$ 46
Top ten borrowers | First Foundation Bank | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage	3%	1%
Top ten borrowers | First Foundation Bank | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage	2%	1%
Top ten borrowers | Bank of America California, National Association
Advances [Line Items]
Advances Outstanding	$ 1,150
Interest Income from Advances	$ 72
Top ten borrowers | Bank of America California, National Association | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage	3%
Top ten borrowers | Bank of America California, National Association | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage	3%
Top ten borrowers | Wescom Central Credit Union
Advances [Line Items]
Advances Outstanding	$ 1,140
Interest Income from Advances	$ 52
Top ten borrowers | Wescom Central Credit Union | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage	3%
Top ten borrowers | Wescom Central Credit Union | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage	2%
Top ten borrowers | Banc of California, National Association
Advances [Line Items]
Advances Outstanding	$ 1,100	$ 1,450
Interest Income from Advances	$ 24	$ 68
Top ten borrowers | Banc of California, National Association | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage	2%	2%
Top ten borrowers | Banc of California, National Association | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage	1%	2%
Top ten borrowers | City National Bank
Advances [Line Items]
Advances Outstanding		$ 3,000
Interest Income from Advances		$ 353
Top ten borrowers | City National Bank | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage		5%
Top ten borrowers | City National Bank | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage		11%
Top ten borrowers | Luther Burbank Savings
Advances [Line Items]
Advances Outstanding		$ 1,152
Interest Income from Advances		$ 44
Top ten borrowers | Luther Burbank Savings | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage		2%
Top ten borrowers | Luther Burbank Savings | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage		1%
Top ten borrowers | Wells Fargo National Bank West
Advances [Line Items]
Advances Outstanding		$ 1,000
Interest Income from Advances		$ 78
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 | Subtotal Members
Advances [Line Items]
Advances Outstanding	$ 29,262	$ 43,824
Interest Income from Advances	$ 1,491	$ 2,139
Top ten borrowers | Subtotal Members | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage	64%	71%
Top ten borrowers | Subtotal Members | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage	66%	64%
Other Borrowers
Advances [Line Items]
Advances Outstanding	$ 16,556	$ 17,886
Interest Income from Advances	$ 754	$ 1,187
Other Borrowers | Other Borrowers | Percentage of Total Advances Outstanding
Advances [Line Items]
Concentration Risk, Percentage	36%	29%
Other Borrowers | Other Borrowers | Percentage of Total Interest Income from Advances
Advances [Line Items]
Concentration Risk, Percentage	34%	36%

Advances (Interest Rate Payment

Advances (Interest Rate Payment Terms and Prepayment Fees) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Federal Home Loan Bank, Advances, Fixed Rate [Abstract]
Fixed Rate, due within 1 year	$ 15,218	$ 23,866
Fixed Rate, due after 1 year	20,101	26,467
Advances, Total Fixed Rate	35,319	50,333
Federal Home Loan Bank, Advances, Floating Rate [Abstract]
Adjustable Rate, due within 1 year	8,494	11,377
Adjustable Rate, due after 1 year	2,005	0
Advances, Total Fixed Rate	10,499	11,377
Total par value	$ 45,818	$ 61,710

Mortgage Loans Held for Portf_3

Mortgage Loans Held for Portfolio (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Loans and Leases Receivable Disclosure [Line Items]
Less: Allowance for credit losses	$ 1	$ 1
Total mortgage loans held for portfolio, net	693	754
Fixed rate medium-term mortgage loans(1)
Loans and Leases Receivable Disclosure [Line Items]
Unpaid principal balance	10	12
Fixed rate long-term mortgage loans
Loans and Leases Receivable Disclosure [Line Items]
Unpaid principal balance	648	704
Residential Portfolio Segment
Loans and Leases Receivable Disclosure [Line Items]
Unpaid principal balance	658	716
Unamortized premiums	37	41
Unamortized discounts	(1)	(2)
Mortgage Loans Held For Portfolio	694	755
Less: Allowance for credit losses	1	1
Total mortgage loans held for portfolio, net	693	754
Accrued interest receivable	5	$ 5
Conventional Mortgage Loan | Residential Portfolio Segment
Loans and Leases Receivable Disclosure [Line Items]
Less: Allowance for credit losses	$ 1

Mortgage Loans Held for Portf_4

Mortgage Loans Held for Portfolio Delinquency Statistics (Details) - Conventional Mortgage Loan - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Mortgage Loan Delinquency Statistics
Total mortgage loans held for portfolio	$ 694	$ 755
In process of foreclosure, included above	1	2
Nonaccrual loans	$ 17	$ 16
Serious delinquencies as a percentage of total mortgage loans outstanding	2.48%	2.17%
Mortgage loans on nonaccrual status, with no allowance	$ 5	$ 5
30 – 59 days delinquent
Mortgage Loan Delinquency Statistics
Total mortgage loans held for portfolio	8	5
60 – 89 days delinquent
Mortgage Loan Delinquency Statistics
Total mortgage loans held for portfolio	2	4
90 days or more delinquent
Mortgage Loan Delinquency Statistics
Total mortgage loans held for portfolio	17	16
Total past due
Mortgage Loan Delinquency Statistics
Total mortgage loans held for portfolio	27	25
Total current loans
Mortgage Loan Delinquency Statistics
Total mortgage loans held for portfolio	$ 667	$ 730

Mortgage Loans Held for Portf_5

Mortgage Loans Held for Portfolio Allowance (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Loans and Leases Receivable Disclosure [Line Items]
Less: Allowance for credit losses	$ 1	$ 1
Residential Portfolio Segment
Loans and Leases Receivable Disclosure [Line Items]
Less: Allowance for credit losses	1	$ 1
Residential Portfolio Segment | Conventional Mortgage Loan
Loans and Leases Receivable Disclosure [Line Items]
Less: Allowance for credit losses	$ 1

Consolidated Obligations (Detai

Consolidated Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
PLRMBS trust settlement	$ 0	$ 0	$ 28

Deposits (Details)

Deposits (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Deposits [Line Items]
Adjustable rate	$ 1,055	$ 957
Non-interest-bearing deposits	6	5
Total	$ 1,061	$ 962

Consolidated Obligations (Redem

Consolidated Obligations (Redemption Terms) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total par value	$ 58,552	$ 64,977
Total CO Bonds	$ 58,174	$ 64,297
Weighted Average Interest Rate [Abstract]
Within 1 year	4.40%	4.84%
After 1 year through 2 years	2.96%	4.70%
After 2 years through 3 years	2.62%	1.34%
After 3 years through 4 years	3.50%	1.75%
After 4 years through 5 years	4.35%	2.98%
After 5 years	2.76%	2.35%
Consolidated obligation bonds
Debt Instrument [Line Items]
Within 1 year	$ 39,657	$ 42,821
After 1 year through 2 years	12,005	13,105
After 2 years through 3 years	1,920	5,938
After 3 years through 4 years	1,487	1,345
After 4 years through 5 years	2,706	942
After 5 years	777	826
Unamortized discounts	(1)	(6)
Valuation adjustments for hedging activities	(363)	(645)
Fair value option valuation adjustments	$ (14)	$ (29)
Weighted Average Interest Rate [Abstract]
Total par amount	4%	4.37%

Consolidated Obligations (Conso

Consolidated Obligations (Consolidated Obligation Bonds Noncallable and Callable) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
CO Bonds Par	$ 58,552	$ 64,977
Consolidated obligation bonds
Debt Instrument [Line Items]
CO Bonds Par	58,552	64,977
Consolidated obligation bonds | Non-callable
Debt Instrument [Line Items]
CO Bonds Par	40,207	38,945
Consolidated obligation bonds | Callable
Debt Instrument [Line Items]
CO Bonds Par	$ 18,345	$ 26,032

Consolidated Obligations (Con_2

Consolidated Obligations (Consolidated Obligation Bonds by Earlier of Contractual Maturity or Next Call Date) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total bonds, par value	$ 58,552	$ 64,977
Earlier of Contractual Maturity or Next Call Date [Member]
Debt Instrument [Line Items]
Within 1 year	49,795	55,291
After 1 year through 2 years	7,608	9,160
After 2 years through 3 years	1,101	378
After 3 years through 4 years	12	100
After 4 years through 5 years	9	12
After 5 years	$ 27	$ 36

Consolidated Obligations (Con_3

Consolidated Obligations (Consolidated Obligation Discount Notes) (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Short-term Debt [Line Items]
Federal Home Loan Bank, Consolidated Obligations, Discount Notes		$ 14,378	$ 19,187
Discount notes
Short-term Debt [Line Items]
Federal Home Loan Bank, Consolidated Obligations, Discount Notes		14,378	19,187
Discount notes, par value		$ 14,460	$ 19,321
Weighted average interest rate (as a percent)	[1]	4.41%	5.23%
[1] Represents yield to maturity excluding concession fees.

Consolidated Obligations (Inter

Consolidated Obligations (Interest Rate Payment Terms) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
CO Bonds Par	$ 58,552	$ 64,977
Fixed Interest Rate
Debt Instrument [Line Items]
CO Bonds Par	23,410	37,464
Adjustable rate
Debt Instrument [Line Items]
CO Bonds Par	34,692	26,880
Step-up
Debt Instrument [Line Items]
CO Bonds Par	$ 450	$ 633

Affordable Housing Program Narr

Affordable Housing Program Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Federal Home Loan Banks [Abstract]
Affordable Housing Program, Contribution Requirement, Amount	$ 100
AHP, Contribution Requirement, Percentage	10%
AHP assessments	$ 52	$ 63	$ 36

Affordable Housing Program - Sc

Affordable Housing Program - Schedule of Change in AHP Liability (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Affordable Housing Program [Roll Forward]
Balance, beginning of the period	$ 133	$ 111	$ 115
AHP assessments	52	63	36
AHP voluntary contributions	9	0	0
AHP grant payments	54	41	40
Balance, end of the period	$ 140	$ 133	$ 111

Affordable Housing Program - _2

Affordable Housing Program - Schedule of Non AHP Housing Programs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Voluntary Housing Contributions [Roll Forward]
Balance, beginning of the period	$ 0	$ 0	$ 0
Voluntary housing and community investment contributions, net of AHP voluntary contributions	32	16	3
Voluntary housing and community investment payments	(32)	(16)	(3)
Balance, end of the period	$ 0	$ 0	$ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity Attributable to Parent	$ 7,004	$ 6,668	$ 7,723	$ 6,224
Accumulated Defined Benefit Plans Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity Attributable to Parent	(5)	(11)	(15)	(9)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax	(6)	(4)	6
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	6	4	(6)
Accumulated Other Comprehensive Income/(Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity Attributable to Parent	63	(72)	(29)	331
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax	6	4	(6)
Net change in fair value	129	(47)	(354)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	135	(43)	(360)
Available-for-sale Securities | AOCI Unrealized gain/loss, Available-for-sale
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity Attributable to Parent	68	(61)	(14)	$ 340
AFS Unrealized Gain/(Loss) on AFS Securities	129	(47)	(354)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	$ 129	$ (47)	$ (354)

Capital (Capital Requirements)

Capital (Capital Requirements) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Feb. 19, 2025	Jan. 31, 2025
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Membership Activity Based Stock Requirement	1%
Membership Capital Stock Requirement Cap	$ 15
Regulatory Capital Ratio, Required	4%	4%
Leverage ratio - Required	5%	5%
Finance Agency capital stock to asset ratio	2%	2%
Risk-Based Capital, Required	$ 1,058	$ 1,210
Risk-Based Capital, Actual	7,272	7,446
Regulatory Capital, Required	3,269	3,713
Regulatory Capital, Actual	$ 7,272	$ 7,446
Regulatory Capital Ratio, Actual	8.90%	8.02%
Leverage Capital, Required	$ 4,087	$ 4,641
Leverage Capital, Actual	$ 10,908	$ 11,169
Leverage Ratio, Actual	13.35%	12.03%
Multiplier for Determining Permanent Capital in Leverage Capital Calculation	1.5
Dividends, Cash, Annualized Rate	8.75%	7.49%	6.30%
Cash dividends on capital stock	$ (209)	$ (243)	$ (161)
Mandatorily redeemable capital stock	$ 65	32	0
Common stock, par value	$ 100
Retained Earnings, Set by the Board inc JCEA	$ 1,400
Subsequent Event
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Dividends, Cash Declared, Annualized Rate				8.75%
Interest and Dividends Payable, Current				$ 63
Retained Earnings, Set by the Board inc JCEA					$ 1,600
Total Retained Earnings
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Cash dividends on capital stock	$ (209)	$ (243)	$ (161)
Percentage of Total Advances Outstanding
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Membership Activity Based Stock Requirement	2.70%
Letter of Credit
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Membership Activity Based Stock Requirement	0.10%
Mortgages
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Membership Activity Based Stock Requirement	0%
Minimum
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Membership Capital Stock Requirement Cap	$ 10
Membership Capital Stock Requirement	0.50%
Minimum | Percentage of Total Advances Outstanding
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Membership Activity Based Stock Requirement	2%
Minimum | Letter of Credit
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Membership Activity Based Stock Requirement	0.10%
Minimum | Mortgages
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Membership Activity Based Stock Requirement	0%
Maximum
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Membership Capital Stock Requirement Cap	$ 50
Membership Capital Stock Requirement	1.50%
Maximum | Percentage of Total Advances Outstanding
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Membership Activity Based Stock Requirement	5%
Maximum | Letter of Credit
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Membership Activity Based Stock Requirement	1%
Maximum | Mortgages
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Membership Activity Based Stock Requirement	5%

Capital (Mandatorily Redeemable

Capital (Mandatorily Redeemable Capital Stock) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) Institutions	Dec. 31, 2023 USD ($) Institutions	Dec. 31, 2022 USD ($)
Capital [Line Items]
Financial Instruments Subject to Mandatory Redemption, Number of Stockholders | Institutions	7	6
Interest expense paid on mandatorily redeemable capital stock	$ 56
Interest Expense on Mandatorily Redeemable Capital Stock	65	$ 32	$ 0
Mandatorily Redeemable Capital Stock [Roll Forward]
Balance at the beginning of the period	706	5	3
Reclassified from/(to) capital during the period	36	1,252	46
Repurchase/redemption of mandatorily redeemable capital stock	(411)	(551)	(44)
Balance at the end of the period	$ 331	$ 706	$ 5

Capital (By Redemption Period)

Capital (By Redemption Period) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount [Abstract]
Year 2	$ 1	$ 0
Year 3	3	1
Year 4	309	2
Year 5	18	702
Past contractual redemption date because of remaining activity	0	1
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Total	$ 331	$ 706	$ 5	$ 3

Capital (Retained Earnings and

Capital (Retained Earnings and Dividend Policy) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Feb. 19, 2025	Jan. 31, 2025	Dec. 31, 2021
Capital [Line Items]
Retained Earnings, Set by the Board inc JCEA	$ 1,400
JCE Agreement Amounts in excess of 150% of Restricted Retained Earnings Minimum May Be Releasted	150%
Excess Capital	$ 111	$ 118
Excess Capital to Assets	0.14%	0.13%
Dividends [Abstract]
Dividends, Cash, Annualized Rate	8.75%	7.49%	6.30%
Total dividends	$ 265	$ 243
Interest Expense on Mandatorily Redeemable Capital Stock	65	32	$ 0
Retained Earnings [Abstract]
Total Capital	7,004	6,668	7,723			$ 6,224
Transfers from restricted retained earnings			0
Subsequent Events [Abstract]
Dividends, Common Stock, Cash	$ 209	243	161
Subsequent Event
Capital [Line Items]
Retained Earnings, Set by the Board inc JCEA					$ 1,600
Subsequent Events [Abstract]
Dividends, Cash Declared, Annualized Rate				8.75%
Interest and Dividends Payable, Current				$ 63
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	$ 3,668	3,475	3,262			3,124
Transfers from restricted retained earnings			(16)
Subsequent Events [Abstract]
Dividends, Common Stock, Cash	209	243	161
Total Restricted Retained Earnings
Retained Earnings [Abstract]
Total Capital	$ 815	$ 815	732			$ 708
Transfers from restricted retained earnings			$ (16)

Capital (Excess Capital Stock)

Capital (Excess Capital Stock) (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Banking Regulation, Total Capital [Abstract]
Common stock, par value	$ 100
Excess Capital	$ 111	$ 118

Capital (Concentration) (Detail

Capital (Concentration) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2024	May 01, 2023
JPMorgan Chase
Concentration Risk [Line Items]
Capital Stock Outstanding	$ 643	$ 252
First Republic Bank | JPMorgan Chase
Concentration Risk [Line Items]
Capital Stock Outstanding			$ 759
Total Capital Stock, 10% or more | JPMorgan Chase | JPMorgan Chase
Concentration Risk [Line Items]
Percentage of Total Capital Stock Outstanding	20%

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
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)	$ 202
Collateral Already Posted, Aggregate Fair Value	197
Derivatives, Additional Net Credit Exposure	$ 504	$ 771

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities (Derivatives in Statement of Condition) (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivatives, Notional Amount		$ 89,876	$ 117,437
Derivative Assets		752	831
Netting adjustments and cash collateral	[1]	(722)	(815)
Total Derivative Assets and Derivative Liabilities		30	16
Derivative Liabilities		458	792
Netting Adjustments and Cash Collateral-Derivative Liability	[1]	(450)	(790)
Derivative liabilities, net		8	2
Cash collateral posted, including accrued interest		210	353
Cash collateral received, including accrued interest		482	378
Designated as Hedging Instrument | Interest rate swaps
Derivatives, Fair Value [Line Items]
Derivatives, Notional Amount		76,005	90,088
Derivative Assets		713	795
Derivative Liabilities		399	705
Not Designated as Hedging Instrument, Economic Hedge | Interest rate swaps
Derivatives, Fair Value [Line Items]
Derivatives, Notional Amount		13,871	27,349
Derivative Assets		39	36
Derivative Liabilities		$ 59	$ 87
[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 $210 million and $353 million at December 31, 2024 and 2023, respectively. Cash collateral received, including accrued interest, was $482 million and $378 million at December 31, 2024 and 2023, respectively.

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities (Derivatives in Statement of Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Advances	$ 2,767	$ 3,999	$ 1,226
AFS securities	1,186	921	408
Bonds	(3,143)	(3,901)	(715)
Discount notes	(767)	(1,249)	(821)
Net gain/(loss) on derivatives	53	(25)	(9)
Advances | Interest Income | Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	360	117	814
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	159	230	(804)
Net Gains Losses On Qualifying Active Fair Value Hedging Relationships	519	347	10
Available-for-sale Securities | Interest Income | Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	655	91	1,202
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(258)	230	(1,247)
Net Gains Losses On Qualifying Active Fair Value Hedging Relationships	397	321	(45)
Consolidated Obligations, Bonds | Interest Expense | Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	(209)	(138)	(1,038)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(281)	(438)	944
Net Gains Losses On Qualifying Active Fair Value Hedging Relationships	(490)	$ (576)	$ (94)
Discount notes | Interest Expense | Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	1
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(4)
Net Gains Losses On Qualifying Active Fair Value Hedging Relationships	$ (3)

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities Cumulative adjustments table (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amortized Cost of Hedged Liability, Fair Value Hedge	$ (22,142)	$ (34,121)
Hedged Liability, Statement of Financial Position [Extensible Enumeration]	Bonds (includes $436 and $604 at fair value under the fair value option, respectively)	Bonds (includes $436 and $604 at fair value under the fair value option, respectively)
Advances
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amortized Cost of Hedged Asset, Fair Value Hedge	$ 24,880	$ 38,338
Basis Adjustment for Active Fair Value Hedged Asset Cumulative Increase Decrease	(230)	(427)
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	$ (198)	$ (371)
Hedged Asset, Statement of Financial Position [Extensible Enumeration]	Advances (includes $5,286 and $1,898 at fair value under the fair value option, respectively)	Advances (includes $5,286 and $1,898 at fair value under the fair value option, respectively)
Available-for-sale Securities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amortized Cost of Hedged Asset, Fair Value Hedge	$ 19,296	$ 17,029
Basis Adjustment for Active Fair Value Hedged Asset Cumulative Increase Decrease	(1,191)	(1,053)
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	$ (679)	$ (432)
Hedged Asset, Statement of Financial Position [Extensible Enumeration]	Available-for-sale (AFS) securities, net of allowance for credit losses of $30 and $31, respectively (amortized cost of $20,274 and $18,105, respectively)(a)	Available-for-sale (AFS) securities, net of allowance for credit losses of $30 and $31, respectively (amortized cost of $20,274 and $18,105, respectively)(a)
Consolidated Obligations, Bonds
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Basis Adjustment for Active Fair Value Hedged Liability Cumulative Increase Decrease	$ 364	$ 645
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)	364	645
Advances
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Basis Adjustment for Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	32	56
Available-for-sale Securities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Basis Adjustment for Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	512	621
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
Discount notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amortized Cost of Hedged Liability, Fair Value Hedge	(9,702)
Basis Adjustment for Active Fair Value Hedged Asset Cumulative Increase Decrease	(4)
Basis Adjustment for Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	0
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	$ (4)

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities (Derivatives in Statement of Income and Impact on Interest) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net			$ (9)
Net gain/(loss) on derivatives	$ 53	$ (25)
Total net gain/(loss) related to derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	56	(21)	(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	16	(26)	34
Not Designated as Hedging Instrument, Economic Hedge [Member] | Net interest settlements
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	40	5	(42)
Not Designated as Hedging Instrument [Member] | Price Alignment Amount
Derivative Instruments, Gain (Loss) [Line Items]
Price Alignment Amount	$ (3)	$ (4)
Gain (Loss) on Derivative and Hedging Activities | Not Designated as Hedging Instrument [Member] | Price Alignment Amount
Derivative Instruments, Gain (Loss) [Line Items]
Price Alignment Amount			$ (1)

Derivatives and Hedging Activ_8

Derivatives and Hedging Activities (Offsetting of Derivative Assets and Derivative Liabilities) (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Recognized Amount		$ 752	$ 831
Derivative Asset Fair Value Gross Liability and Right To Reclaim Cash Offset		(722)	(815)
Total Derivative Assets and Derivative Liabilities		30	16
Derivative Asset, Fair Value, Amount Offset Against Collateral		30	16
Derivative Liability, Fair Value, Gross Recognized Amount		458	792
Netting Adjustments and Cash Collateral-Derivative Liability	[1]	(450)	(790)
Derivative Assets and Derivative Liabilities		8	2
Derivative Liability, Fair Value, Amount Offset Against Collateral		8	2
Uncleared derivatives
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Recognized Amount		730	826
Derivative Asset Fair Value Gross Liability and Right To Reclaim Cash Offset		(729)	(814)
Derivative Asset, Fair Value, Amount Offset Against Collateral		1	12
Derivative Liability, Fair Value, Gross Recognized Amount		452	778
Netting Adjustments and Cash Collateral-Derivative Liability		(444)	(776)
Derivative Liability, Fair Value, Amount Offset Against Collateral		8	2
Cleared derivatives
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Recognized Amount		22	5
Derivative Asset Fair Value Gross Liability and Right To Reclaim Cash Offset		7	(1)
Derivative Asset, Fair Value, Amount Offset Against Collateral		29	4
Derivative Liability, Fair Value, Gross Recognized Amount		6	14
Netting Adjustments and Cash Collateral-Derivative Liability		(6)	(14)
Derivative Liability, Fair Value, Amount Offset Against Collateral		$ 0	$ 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 $210 million and $353 million at December 31, 2024 and 2023, respectively. Cash collateral received, including accrued interest, was $482 million and $378 million at December 31, 2024 and 2023, respectively.

Fair Value (Carrying Value and

Fair Value (Carrying Value and Fair Value of Financial Instruments) (Details) $ in Millions		Dec. 31, 2024 USD ($) numberOfVendors	Dec. 31, 2023 USD ($)		Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Assets
Cash and due from banks		$ 2	$ 5
Available-for-sale (AFS) securities, net of allowance for credit losses of $30 and $31, respectively (amortized cost of $20,274 and $18,105, respectively)(a)	[1]	20,312	18,014
HTM Securities, Fair Value	[2]	1,489	1,847
HTM securities, fair value		1,469	1,818
Interest Receivable		181	184
Derivative assets, net		30	16
Derivative Assets		752	831
Derivative Asset, Netting adjustments	[3]	722	815
Liabilities
Mandatorily redeemable capital stock		331	706		$ 5	$ 3
Accrued interest payable		412	520
Derivative liabilities, net		8	2
Derivative Liabilities		458	792
Derivative Liability, Netting adjustments	[3]	$ (450)	(790)
Maximum
Other
Fair Value Measurements Valuation Techniques Number Of Designated Third Party Pricing Vendors | numberOfVendors		3
Median [Member]
Other
Fair Value Measurements Valuation Techniques Number Of Designated Third Party Pricing Vendors | numberOfVendors		2
Minimum
Other
Fair Value Measurements Valuation Techniques Number Of Designated Third Party Pricing Vendors | numberOfVendors		1
Carrying Value(1)
Assets
Cash and due from banks		$ 2	5
Interest-bearing deposits		3,765	2,922
Securities purchased under agreements to resell		7,750	3,650
Federal funds sold		1,645	3,861
Available-for-sale (AFS) securities, net of allowance for credit losses of $30 and $31, respectively (amortized cost of $20,274 and $18,105, respectively)(a)		20,312	18,014
HTM securities, Carrying Value		(1,489)	(1,847)
Advances		45,637	61,335
Mortgage loans held for portfolio		693	754
Interest Receivable		181	184
Derivative assets, net	[4]	30	16
Other assets	[5]	17	17
Liabilities
Deposits		1,061	962
Total consolidated obligations		72,552	83,484
Mandatorily redeemable capital stock		331	706
Accrued interest payable		412	520
Derivative liabilities, net	[4]	8	2
Estimated Fair Value
Assets
Cash and due from banks		2	5
Interest-bearing deposits		3,765	2,922
Securities purchased under agreements to resell		7,750	3,650
Federal funds sold		1,645	3,861
Available-for-sale (AFS) securities, net of allowance for credit losses of $30 and $31, respectively (amortized cost of $20,274 and $18,105, respectively)(a)		20,312	18,014
HTM securities, fair value		1,469	1,818
Advances		45,596	61,216
Mortgage loans held for portfolio		576	634
Interest Receivable		181	184
Derivative assets, net	[4]	30	16
Other assets	[5]	17	17
Liabilities
Deposits		1,061	962
Total consolidated obligations		72,361	83,219
Mandatorily redeemable capital stock		331	706
Accrued interest payable		412	520
Derivative liabilities, net	[4]	8	2
Level 1
Assets
Cash and due from banks		2	5
Interest-bearing deposits		3,765	2,922
Securities purchased under agreements to resell		0	0
Federal funds sold		0	0
Available-for-sale (AFS) securities, net of allowance for credit losses of $30 and $31, respectively (amortized cost of $20,274 and $18,105, 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]	17	17
Liabilities
Deposits		0	0
Total consolidated obligations		0	0
Mandatorily redeemable capital stock		331	706
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		7,750	3,650
Federal funds sold		1,645	3,861
Available-for-sale (AFS) securities, net of allowance for credit losses of $30 and $31, respectively (amortized cost of $20,274 and $18,105, respectively)(a)		19,355	16,955
HTM securities, fair value		1,374	1,702
Advances		45,596	61,216
Mortgage loans held for portfolio		576	634
Interest Receivable		181	184
Derivative Assets	[4]	752	831
Derivative Asset, Netting adjustments	[4]	(722)	(815)
Other assets	[5]	0	0
Liabilities
Deposits		1,061	962
Total consolidated obligations		72,361	83,219
Mandatorily redeemable capital stock		0	0
Accrued interest payable		412	520
Derivative Liabilities	[4]	458	792
Derivative Liability, Netting adjustments	[4]	(450)	(790)
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
Available-for-sale (AFS) securities, net of allowance for credit losses of $30 and $31, respectively (amortized cost of $20,274 and $18,105, respectively)(a)		957	1,059
HTM securities, fair value		95	116
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		14,378	19,187
Discount notes | Estimated Fair Value
Liabilities
Discount notes		14,376	19,182
Discount notes | Level 1
Liabilities
Discount notes		0	0
Discount notes | Level 2
Liabilities
Discount notes		14,376	19,182
Discount notes | Level 3
Liabilities
Discount notes		0	0
Bonds
Liabilities
Bonds		436	604
Bonds | Carrying Value(1)
Liabilities
Bonds		58,174	64,297
Bonds | Estimated Fair Value
Liabilities
Bonds		57,985	64,037
Bonds | Level 1
Liabilities
Bonds		0	0
Bonds | Level 2
Liabilities
Bonds		57,985	64,037
Bonds | Level 3
Liabilities
Bonds		$ 0	$ 0
[1]At December 31, 2024 and 2023, $504 million and $771 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 $5 million and $6 million at December 31, 2024 and 2023, 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 $210 million and $353 million at December 31, 2024 and 2023, respectively. Cash collateral received, including accrued interest, was $482 million and $378 million at December 31, 2024 and 2023, 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]Includes 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		Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of advances under the fair value option	[1]	$ 5,286	$ 1,898
Derivative Asset, Netting adjustments	[2]	722	815
Derivative assets, net		30	16
Derivative Liability, Netting adjustments	[2]	(450)	(790)
Derivative liabilities, net		8	2
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets	[3]	17	17
Mortgage loans held for portfolio		0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Netting adjustments	[4]	(722)	(815)
Other assets	[3]	0	0
Derivative Liability, Netting adjustments	[4]	(450)	(790)
Mortgage loans held for portfolio		576	634
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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]	5,286	1,898
Derivative Asset, Netting adjustments	[6]	(722)	(815)
Derivative Liability, Netting adjustments	[6]	(450)	(790)
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		17	17
Total fair value measurements – Assets		17	17
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		19,355	16,955
Fair value of advances under the fair value option	[5]	5,286	1,898
Other assets		0	0
Total fair value measurements – Assets		25,393	19,684
Total recurring fair value measurements – Liabilities		894	1,396
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		957	1,059
Fair value of advances under the fair value option	[5]	0	0
Other assets		0	0
Total fair value measurements – Assets		957	1,059
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]	1	22
Mortgage loans held for portfolio	[7]	1	22
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		6,510	4,534
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
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		12,845	12,421
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		957	1,059
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		957	1,059
Consolidated obligation bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bonds		436	604
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		57,985	64,037
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]	436	604
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]	436	604
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]
Derivative assets, net	[4]	30	16
Other assets	[3]	17	17
Derivative liabilities, net	[4]	8	2
Mortgage loans held for portfolio		576	634
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		20,312	18,014
Other assets		17	17
Total fair value measurements – Assets		25,645	19,945
Total recurring fair value measurements – Liabilities		444	606
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]	1	22
Mortgage loans held for portfolio	[7]	1	22
Estimate of Fair Value Measurement | US Treasury Securities | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		6,510	4,534
Estimate of Fair Value Measurement | Residential Mortgage Backed Securities | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		13,802	13,480
Estimate of Fair Value Measurement | Subtotal PLRMBS | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		957	1,059
Estimate of Fair Value Measurement | Consolidated obligation bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bonds		57,985	64,037
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]	(722)	(815)
Derivative Liability, Netting adjustments	[6]	(450)	(790)
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		752	831
Derivative liabilities, net		458	792
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		30	16
Derivative liabilities, net		8	2
Multifamily | 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 | 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		12,845	12,421
Multifamily | 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 | Estimate of Fair Value Measurement | MBS - GSEs | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of AFS Securities		$ 12,845	$ 12,421
[1]At December 31, 2024 and 2023, 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 $210 million and $353 million at December 31, 2024 and 2023, respectively. Cash collateral received, including accrued interest, was $482 million and $378 million at December 31, 2024 and 2023, respectively.[3]Includes 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 December 31, 2024 and 2023. The fair value information presented is as of the date the fair value adjustment was recorded during the years ended December 31, 2024 and 2023.

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	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of the period	$ 1,059	$ 1,182	$ 1,608
Interest income	12	33	55
Provision for Credit Losses	0	(4)	(14)
Other income/(loss)	0	0	28
Unrealized gain/(loss) included in AOCI	(5)	(15)	(146)
Settlements	(109)	(139)	(366)
Transfers of HTM to AFS	0	2	17
Balance, end of the period	957	1,059	1,182
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	29	41
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	$ (5)	$ (15)	$ (146)

Fair Value (Fair Value Option)

Fair Value (Fair Value Option) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Option, Quantitative Disclosures [Line Items]
Net gain/(loss) on advances and consolidated obligation bonds held under fair value option	$ (12)	$ (1)	$ (65)
Advances
Fair Value, Option, Quantitative Disclosures [Line Items]
Net gain/(loss) on advances and consolidated obligation bonds held under fair value option	4	28	(119)
Consolidated obligation bonds
Fair Value, Option, Quantitative Disclosures [Line Items]
Net gain/(loss) on advances and consolidated obligation bonds held under fair value option	$ (16)	$ (29)	$ 54

Fair Value (Fair Value Differen

Fair Value (Fair Value Difference Between Fair Value and Remaining Contractual Principal Balance Outstanding) (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Option, Principal Balance, Advances	[1]	$ 5,269	$ 1,902
Fair Value of advances under the fair value option	[1]	5,286	1,898
Fair Value Over/(Under) Principal Balance, Advances	[1]	17	(4)
Consolidated obligation bonds
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Option, Principal Balance, CO Bonds		450	633
Fair value of bonds under the fair value option		436	604
Fair Value Over/(Under) Principal Balance, CO Bonds		$ (14)	$ (29)
[1]At December 31, 2024 and 2023, 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 - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Loss Contingencies [Line Items]
Obligation with joint and several liability arrangement, amount outstanding	$ 1,200,000	$ 1,200,000
Other Liabilities	227	353
Commitments to fund advances	5	0
Standby letters of credit outstanding | Carrying Value(1)
Loss Contingencies [Line Items]
Other commitments	$ 55
Standby letters of credit outstanding
Loss Contingencies [Line Items]
Other Liabilities		$ 57

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Off-Balance Sheet Commitments (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Standby letters of credit
Loss Contingencies [Line Items]
Expire Within One Year	$ 9,966
Expire After One Year	9,531
Total	19,497	$ 19,418
Commitments to fund additional advances
Loss Contingencies [Line Items]
Expire Within One Year	5
Expire After One Year	0
Total	$ 5	$ 0

Transactions with Certain Mem_3

Transactions with Certain Members, Certain Nonmembers, and Other FHLBanks (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Assets:
Advances	$ 45,637	$ 61,335
Accrued interest receivable	181	184
Liabilities:
Deposits	1,061	962
Capital:
Capital Stock	2,458	2,450
Interest Income:
Advances	2,767	3,999	$ 1,226
Mortgage loans held for portfolio	22	26	46
Interest Expense:
Deposits	72	64	18
Transaction with Member Officer or Director
Assets:
Advances	5,713	5,762
Mortgage loans held for portfolio	70	74
Accrued interest receivable	9	5
Liabilities:
Deposits	16	34
Capital:
Capital Stock	190	191
Interest Income:
Advances	192	271	114
Mortgage loans held for portfolio	3	3	1
Interest Expense:
Deposits	$ 1	$ 1	$ 0

Transactions with Certain Mem_4

Transactions with Certain Members, Certain Nonmembers, and Other FHLBanks - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related Party Transactions [Abstract]
Payments to acquire other receivables	$ 210	$ 2,600	$ 2,400
Proceeds from Other FHLBank borrowings	$ 80	5,500	10,400
Other FHLBank interest expense		$ 2	1
MPF service fee expense to FHLB Chicago			$ 1

Employee Retirement Plans and_3

Employee Retirement Plans and Incentive Compensation Plans (Fair Value of Plan Assets and Funded Status) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Cash Balance Plan
Defined Benefit Plan, Amounts recognized in Statement of Financial Position
Fair value of plan assets	$ 101	$ 96
Funded status at the end of the year	18	16
Non-Qualified Defined Benefit Plans
Defined Benefit Plan, Amounts recognized in Statement of Financial Position
Fair value of plan assets	0	0
Funded status at the end of the year	(15)	(15)
Post-retirement Health Benefit Plan
Defined Benefit Plan, Amounts recognized in Statement of Financial Position
Fair value of plan assets	0	0
Funded status at the end of the year	$ (1)	$ (1)

Employee Retirement Plans and_4

Employee Retirement Plans and Incentive Compensation Plans (Amounts recognized in AOCI) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Cash Balance Plan
Defined Benefit Plan Disclosure [Line Items]
Net loss/(gain)	$ 8	$ 12
Non-Qualified Defined Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Net loss/(gain)	(2)
Post-retirement Health Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Net loss/(gain)	$ (1)	$ (1)

Employee Retirement Plans and_5

Employee Retirement Plans and Incentive Compensation Plans (Benefit Obligations in Excess of Plan Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Cash Balance Plan
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 83	$ 80
Accumulated benefit obligation	83	80
Fair value of plan assets	101	96
Funded status at the end of the year	18	16
Non-Qualified Defined Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	15	15
Accumulated benefit obligation	14	15
Fair value of plan assets	0	0
Funded status at the end of the year	(15)	(15)
Post-retirement Health Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	1	1
Accumulated benefit obligation	1	1
Fair value of plan assets	0	0
Funded status at the end of the year	$ (1)	$ (1)

Employee Retirement Plans and_6

Employee Retirement Plans and Incentive Compensation Plans (Weighted-Average Assumptions in Determining Benefit Obligations) (Details)	Dec. 31, 2024	Dec. 31, 2023
Cash Balance Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.25%	4.50%
Non-Qualified Defined Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.25%	4.50%
Post-retirement Health Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.50%	4.75%

Employee Retirement Plans and_7

Employee Retirement Plans and Incentive Compensation Plans (Fair Value of Cash Balance Plan) (Details) - Cash Balance Plan - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 101	$ 96
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	101	96
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3	1
Cash and cash equivalents | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3	1
Cash and cash equivalents | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Equity mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	61	59
Equity mutual funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	61	59
Equity mutual funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Equity mutual funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fixed income mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	30	29
Fixed income mutual funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	30	29
Fixed income mutual funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fixed income mutual funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Real estate mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4	4
Real estate mutual funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4	4
Real estate mutual funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Real estate mutual funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Other mutual funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3	3
Other mutual funds [Member] | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3	3
Other mutual funds [Member] | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Other mutual funds [Member] | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 0	$ 0

Employee Retirement Plans and_8

Employee Retirement Plans and Incentive Compensation Plans (Weighted-Average Asset Allocation of Cash Balance Plan) (Details) - Cash Balance Plan - Level 1	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	100%	100%
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	2%	1%
Equity mutual funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	61%	62%
Fixed income mutual funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	30%	30%
Real estate mutual funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	4%	4%
Other mutual funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	3%	3%

Employee Retirement Plans and_9

Employee Retirement Plans and Incentive Compensation Plans (Future benefit payments) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Cash Balance Plan
Defined Benefit Plan Disclosure [Line Items]
2021	$ 5
2022	5
2023	5
2024	6
2025	42
2026 - 2030	27
Non-Qualified Defined Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer	2
2021	0
2022	1
2023	1
2024	1
2025	3
2026 - 2030	$ 11

Employee Retirement Plans an_10

Employee Retirement Plans and Incentive Compensation Plans (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Non Qualified Defined Benetfit Interest	6%
Incentive Compensation Plan, Other Liability	$ 15	$ 16
Defined Contribution Plan, Maximum Annual Contributions per Employee, Percent	75%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	6%
Defined Contribution Plan, Cost	$ 3
Deferred Compensation Arrangement with Individual, Recorded Liability	$ 63	$ 58
Cash Balance Plan
Defined Benefit Plan Disclosure [Line Items]
Cash Balance Plan Defined Benefit Accrual Percentage	6%
Cash Balance Plan Defined Benefit Interest	6%
Discount rate	5.25%	4.50%
Post-retirement Health Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.50%	4.75%
Non-Qualified Defined Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.25%	4.50%
Equity mutual funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment Policy and Strategy, Description	60%
Real estate mutual funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment Policy and Strategy, Description	10%
Fixed income mutual funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment Policy and Strategy, Description	30