Document and Entity Information
Document and Entity Information Document - shares | 3 Months Ended | |
Mar. 31, 2024 | Apr. 30, 2024 | |
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 63,114,591 | |
Document Transition Report | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2024 | |
Entity File Number | 000-51999 | |
Document Quarterly Report | true | |
Amendment Flag | false | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | FEDERAL HOME LOAN BANK OF DES MOINES | |
Entity Central Index Key | 0001325814 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Current Reporting Status | Yes | |
Entity Incorporation, State or Country Code | X1 | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false | |
Entity Tax Identification Number | 42-6000149 | |
Entity Address, Address Line One | 909 Locust Street | |
Entity Address, City or Town | Des Moines | |
Entity Address, State or Province | IA | |
Entity Address, Postal Zip Code | 50309 | |
City Area Code | 515 | |
Local Phone Number | 412-2100 | |
Document Fiscal Year Focus | 2024 |
Statements of Condition
Statements of Condition - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
ASSETS | ||
Cash and due from banks | $ 32 | $ 31 |
Interest-bearing deposits (Note 3) | 3,711 | 3,481 |
Securities purchased under agreements to resell (Note 3) | 12,950 | 11,400 |
Federal funds sold (Note 3) | 8,305 | 7,120 |
Investment securities (Note 3) | ||
Trading securities | 2,532 | 3,152 |
Available-for-sale securities (amortized cost of $24,698 and $24,001) | 24,691 | 23,823 |
Held-to-maturity securities (fair value of $824 and $850) | 829 | 852 |
Total investment securities | 28,052 | 27,827 |
Advances (Note 4) | 110,976 | 122,530 |
Mortgage loans held for portfolio, net | ||
Mortgage loans held for portfolio, net of allowance for credit losses of $5 and $6 (Notes 5) | 10,351 | 9,967 |
Accrued interest receivable | 506 | 582 |
Derivative assets, net (Note 6) | 1,251 | 1,267 |
Other assets | 135 | 201 |
TOTAL ASSETS | 176,269 | 184,406 |
Deposits | ||
Interest-bearing | 1,015 | 959 |
Non-interest-bearing | 94 | 80 |
Total deposits | 1,109 | 1,039 |
Consolidated obligations (Note 7) | ||
Discount notes (including $59,599 and $47,442 at fair value held under fair value option) | 63,358 | 54,537 |
Bonds | 100,687 | 116,961 |
Total consolidated obligations | 164,045 | 171,498 |
Loans from Other Federal Home Loan Banks | 0 | 0 |
Mandatorily redeemable capital stock (Note 8) | 10 | 12 |
Accrued interest payable | 967 | 1,023 |
Affordable Housing Program payable | 220 | 198 |
Derivative liabilities, net (Note 6) | 14 | 7 |
Other liabilities | 195 | 798 |
TOTAL LIABILITIES | 166,560 | 174,575 |
Commitments and contingencies (Note 10) | ||
CAPITAL (Note 8) | ||
Capital stock - Class B putable ($100 par value); 68,105,273 and 62,495,304 issued and outstanding shares | 6,442 | 6,873 |
Retained earnings | ||
Unrestricted | 2,325 | 2,242 |
Restricted | 951 | 896 |
Total retained earnings | 3,276 | 3,138 |
Accumulated other comprehensive income (loss) | (9) | (180) |
TOTAL CAPITAL | 9,709 | 9,831 |
TOTAL LIABILITIES AND CAPITAL | 176,269 | 184,406 |
Held-to-Maturity Securities, Fair Value | 824 | 850 |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, after Allowance for Credit Loss | $ 24,698 | 24,001 |
Capital Stock - Class B Putable, Par Value | $ 100 | |
Residential Portfolio Segment | ||
Retained earnings | ||
Loans and Leases Receivable, Allowance | $ 5 | 6 |
Federal Home Loan Bank of Cincinnati | ||
Consolidated obligations (Note 7) | ||
Loans from Other Federal Home Loan Banks | 0 | 0 |
Fair Value Option Election | Consolidated Obligation Discount Notes [Member] | ||
Retained earnings | ||
Discount notes | $ 59,599 | $ 47,442 |
Common Class B [Member] | ||
Retained earnings | ||
Capital Stock - Class B Putable, Outstanding Shares | 64,422,730 | 68,731,881 |
Capital Stock - Class B Putable, Par Value | $ 100 | $ 100 |
Statements of Income
Statements of Income - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
INTEREST INCOME | ||
Advances | $ 1,698 | $ 1,394 |
Interest-bearing deposits | 71 | 39 |
Securities purchased under agreements to resell | 164 | 93 |
Federal funds sold | 198 | 171 |
Trading securities | 21 | 9 |
Available-for-sale securities | 375 | 224 |
Held-to-maturity securities | 11 | 11 |
Mortgage loans held for portfolio | 101 | 69 |
Total interest income | 2,639 | 2,010 |
INTEREST EXPENSE | ||
Consolidated obligations - Discount notes | 846 | 735 |
Consolidated obligations - Bonds | 1,429 | 983 |
Deposits | 14 | 10 |
Interest Expense, Loans from Other Federal Home Loan Banks | 1 | 0 |
Total interest expense | 2,290 | 1,728 |
NET INTEREST INCOME | 349 | 282 |
Provision (reversal) for credit losses on mortgage loans | (1) | 0 |
NET INTEREST INCOME AFTER PROVISION (REVERSAL) FOR CREDIT LOSSES | 350 | 282 |
OTHER INCOME (LOSS) | ||
Net gains (losses) on trading securities | (20) | 33 |
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 37 | (65) |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (21) | 10 |
Gain (Loss) on Extinguishment of Debt | 0 | 2 |
Other, net | 8 | 5 |
Total other income (loss) | 4 | (15) |
OTHER EXPENSE | ||
Compensation and benefits | 21 | 20 |
Contractual services | 7 | 6 |
Professional fees | 3 | 3 |
Other operating expenses | 5 | 5 |
Federal Housing Finance Agency | 3 | 2 |
Office of Finance | 3 | 3 |
Other Expense Community Contributions | 0 | 12 |
Other, net | 8 | 4 |
Total other expense | 50 | 55 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total | 304 | 212 |
Affordable Housing Program assessments | 30 | 21 |
NET INCOME | $ 274 | $ 191 |
Statements of Comprehensive Inc
Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 274 | $ 191 |
Other comprehensive income (loss) | ||
Unrealized gains (losses) | 171 | (67) |
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Tax, after Reclassification Adjustment, Attributable to Parent | 0 | 1 |
Total other comprehensive income (loss) | 171 | (66) |
TOTAL COMPREHENSIVE INCOME (LOSS) | $ 445 | $ 125 |
Statements of Capital
Statements of Capital - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Beginning Balance | $ 9,831 | $ 8,751 |
Total Comprehensive Income | 445 | 125 |
Proceeds from issuance of capital stock | 1,897 | 3,634 |
Repurchases/redemptions of capital stock | (2,328) | (3,292) |
Cash dividends on capital stock | (136) | (96) |
Ending Balance | 9,709 | 9,122 |
Retained Earnings, Unrestricted [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Beginning Balance | 2,242 | 1,915 |
Total Comprehensive Income | 219 | 153 |
Cash dividends on capital stock | (136) | (96) |
Ending Balance | 2,325 | 1,972 |
Retained Earnings, Restricted [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Beginning Balance | 896 | 703 |
Total Comprehensive Income | 55 | 38 |
Ending Balance | 951 | 741 |
Retained Earnings [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Beginning Balance | 3,138 | 2,618 |
Total Comprehensive Income | 274 | 191 |
Cash dividends on capital stock | (136) | (96) |
Ending Balance | 3,276 | 2,713 |
Accumulated Other Comprehensive Income [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Beginning Balance | (180) | (117) |
Total Comprehensive Income | 171 | (66) |
Ending Balance | (9) | (183) |
Common Class B [Member] | Common Stock [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Beginning Balance | $ 6,873 | $ 6,250 |
BALANCE (shares) | 69 | 63 |
Proceeds from issuance of capital stock | $ 1,897 | $ 3,634 |
Proceeds from issuance of capital stock (shares) | 19 | 36 |
Repurchases/redemptions of capital stock | $ (2,328) | $ (3,292) |
Repurchases/redemptions of capital stock (shares) | (24) | (33) |
BALANCE (shares) | 64 | 66 |
Ending Balance | $ 6,442 | $ 6,592 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
OPERATING ACTIVITIES | ||
Net Income | $ 274 | $ 191 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities | ||
Depreciation and amortization | (90) | 188 |
Net gains (losses) on trading securities | 20 | (33) |
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option | (37) | 65 |
Unrealized Gain (Loss) on Derivatives | 652 | (332) |
Gain (Loss) on Extinguishment of Debt | 0 | (2) |
Other adjustments | (1) | 1 |
Net change in: | ||
Increase (Decrease) in Accrued Interest Receivable, Net | 4 | (61) |
Increase (Decrease) in Other Operating Assets | 3 | (4) |
Accrued interest payable | (56) | 182 |
Other liabilities | (15) | 11 |
Total adjustments | 480 | 15 |
Net Cash Provided by (Used in) Operating Activities | 754 | 206 |
Net change in: | ||
Interest-bearing deposits | (226) | (965) |
Securities purchased under agreements to resell | (1,550) | (10,310) |
Federal funds sold | (1,185) | (415) |
Trading securities | ||
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment | 596 | 248 |
Proceeds from Maturities, Repayments and Calls of Debt Securities, FV-NI, Held-for-investment | 4 | 4 |
Available-for-sale securities | ||
Proceeds from sales and maturities | 502 | 859 |
Purchases | (2,012) | (2,354) |
Held-to-maturity securities | ||
Proceeds from sales and maturities | 22 | 27 |
Advances | ||
Principal collected | 104,573 | 213,381 |
Originated | (93,448) | (220,949) |
Mortgage loans held for portfolio | ||
Principal collected | 200 | 164 |
Originated or purchased | (586) | (292) |
Payments for (Proceeds from) Other Investing Activities | (2) | (4) |
Net Cash Provided by (Used in) Investing Activities | 6,888 | (20,606) |
FINANCING ACTIVITIES | ||
Net change in deposits | 157 | 238 |
Net proceeds from issuance of consolidated obligations | ||
Discount notes | 441,338 | 423,414 |
Bonds | 14,140 | 42,834 |
Payments for maturing and retiring consolidated obligations | ||
Discount notes | (432,401) | (420,212) |
Bonds | (30,306) | (26,387) |
Proceeds from issuance of capital stock | 1,897 | 3,634 |
Payments for repurchases/redemptions of capital stock | (2,328) | (3,292) |
Payments for repurchases/redemptions of mandatorily redeemable capital stock | (2) | (1) |
Cash dividends paid | (136) | (96) |
Net cash provided by (used in) financing activities | (7,641) | 20,382 |
Net increase (decrease) in cash and due from banks | 1 | (18) |
Cash and due from banks at the beginning of the period | 31 | 89 |
cash and due from banks at the end of the period | 32 | 71 |
SUPPLEMENTAL DISCLOSURES | ||
Interest paid | 2,511 | 1,383 |
Affordable Housing Program payments | 8 | 15 |
Noncash Investing and Financing Items [Abstract] | ||
Capitalized interest on reverse mortgage securities | 69 | 46 |
Traded Not Settled Investments | 125 | 1,351 |
Increase (Decrease) in Loans from Federal Home Loan Banks | $ 0 | $ 250 |
Background Information
Background Information | 3 Months Ended |
Mar. 31, 2024 | |
Background Information [Abstract] | |
Nature of Operations [Text Block] | Background Information The Bank is a federally chartered corporation that is exempt from all federal, state, and local taxation (except real property taxes and certain employer taxes) and is one of 11 district FHLBanks. The FHLBanks are GSEs and were created under the authority of the FHLBank Act in order to serve the public by enhancing the availability of funds for residential mortgages and targeted community development. The Bank is regulated by the Finance Agency. The Bank is a cooperative, meaning it is owned by its customers, whom the Bank calls members. As a condition of membership in the Bank, all members must purchase and maintain capital stock to support business activities with the Bank. In return, the Bank provides a readily available source of funding and liquidity to its member institutions and eligible housing associates in Alaska, Hawaii, Idaho, Iowa, Minnesota, Missouri, Montana, North Dakota, Oregon, South Dakota, Utah, Washington, Wyoming, and the U.S. Pacific territories of American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. Commercial banks, savings institutions, credit unions, insurance companies, and CDFIs may apply for membership. State and local housing associates that meet certain statutory criteria may also borrow from the Bank; while eligible to borrow, housing associates are not members of the Bank and, as such, are not permitted to hold capital stock. All stockholders, including current and former members, may receive dividends on their capital stock investment to the extent declared by the Bank’s Board of Directors. |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Basis of Presentation [Text Block] | Basis of Presentation The accompanying unaudited financial statements have been prepared in accordance with GAAP for interim financial information. In the opinion of management, the unaudited interim financial information is complete and reflects all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of results for the interim periods. The preparation of financial statements in accordance with GAAP requires management to make assumptions and estimates that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year ending December 31, 2024. Reclassifications Certain amounts in the Bank’s 2023 financial statements have been reclassified to conform to the presentation for the three months ended March 31, 2024. These amounts were not deemed to be material. SIGNIFICANT ACCOUNTING POLICIES There have been no material changes to the Bank’s significant accounting policies during the three months ended March 31, 2024. Descriptions of all significant accounting policies are included in “Item 8. Financial Statements and Supplementary Data — Note 1 — Summary of Significant Accounting Policies” in the 2023 Form 10-K. |
Subsequent Events [Text Block] | Subsequent Events |
Recently Adopted and Issued Acc
Recently Adopted and Issued Accounting Guidance | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
Recently Adopted and Issued Accounting Guidance [Text Block] | Recently Adopted and Issued Accounting Guidance Segment Reporting (ASU 2023-07) On November 27, 2023, the FASB issued guidance designed to improve segment reporting, primarily by requiring enhanced disclosures about significant segment expenses. This guidance became effective for the Bank for the annual period beginning on January 1, 2024, and for the interim periods beginning on January 1, 2025. The adoption of this guidance is not expected to have any effect on the Bank’s financial condition, results of operations, or cash flows; however, it may increase certain disclosures. Disclosure Improvements in Response to SEC Initiative (ASU 2023-06) On October 9, 2023, the FASB issued guidance amending various disclosure requirements in response to the SEC’s initiative to update and simplify disclosures. This guidance will become effective for the Bank on the date the SEC removes the related disclosure requirements from its existing regulations, to avoid duplication in FASB codification. The adoption of this guidance is not expected to have any effect on the Bank’s financial condition, results of operations, or cash flows; however, it may impact certain disclosures. |
Investments
Investments | 3 Months Ended |
Mar. 31, 2024 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Investments The Bank makes short-term investments in interest-bearing deposits, securities purchased under agreements to resell, and federal funds sold, and makes other investments in debt securities, which are classified as either trading, AFS, or HTM. INTEREST-BEARING DEPOSITS, SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL, AND FEDERAL FUNDS SOLD The Bank invests in interest-bearing deposits, securities purchased under agreements to resell, and federal funds sold to provide short-term liquidity. These investments are generally transacted with counterparties that have received a credit rating of triple-B or greater (investment grade) by a NRSRO. At March 31, 2024 and December 31, 2023, none of these investments were with counterparties rated below triple-B; however, as of March 31, 2024 and December 31, 2023, approximately 28 percent and 35 percent were secured securities purchased under agreements to resell with unrated counterparties. NRSRO ratings may differ from any internal ratings of the investments by the Bank. Federal funds sold are unsecured loans that are generally transacted on an overnight term. Finance Agency regulations include a limit on the amount of unsecured credit the Bank may extend to a counterparty. At March 31, 2024 and December 31, 2023, no allowance for credit losses was recorded for interest-bearing deposits and federal funds sold, as all assets were repaid or expected to be repaid according to their contractual terms. The carrying values of interest-bearing deposits and federal funds sold exclude accrued interest receivable of $22 million at both March 31, 2024 and December 31, 2023. Securities purchased under agreements to resell are secured, short-term, and are structured such that they are evaluated regularly to determine if the market value of the underlying securities decreases below the market value required as collateral (i.e. subject to collateral maintenance provisions). If so, the counterparty must place an equivalent amount of additional securities as collateral or remit an equivalent amount of cash, generally by the next business day. Based upon the collateral held as security and collateral maintenance provisions with its counterparties, the Bank determined that no allowance for credit losses was needed for its securities purchased under agreements to resell at March 31, 2024 and December 31, 2023. The carrying value of securities purchased under agreements to resell excludes accrued interest receivable of $8 million and $5 million at March 31, 2024 and December 31, 2023. DEBT SECURITIES The Bank invests in debt securities, which are classified as either trading, AFS, or HTM. 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. A security is considered to be investment quality if it has adequate financial backing so that full and timely payment of principal and interest is expected and there is minimal risk that the timely payment of principal and interest would not occur because of adverse changes in economic and financial conditions during the projected life of the security. Exceptions are allowed for certain investments targeted at low-income persons or communities, and instruments that experience credit deterioration after their purchase by the Bank. Trading Securities Trading securities by major security type were as follows (dollars in millions): March 31, 2024 December 31, 2023 Non-mortgage-backed securities U.S. Treasury obligations 1 $ 2,314 $ 2,925 Other U.S. obligations 1 63 68 GSE and Tennessee Valley Authority obligations 48 49 Other 2 107 110 Total fair value $ 2,532 $ 3,152 1 Represents investment securities backed by the full faith and credit of the U.S. Government. 2 Consists of taxable municipal bonds. Net Gains (Losses) on Trading Securities The following table summarizes the components of “Net gains (losses) on trading securities” as presented on the Statements of Income (dollars in millions): For the Three Months Ended March 31, 2024 2023 Net unrealized gains (losses) on trading securities held at period-end $ (20) $ 33 Net gains (losses) on trading securities no longer held at period-end — — Net gains (losses) on trading securities $ (20) $ 33 AFS Securities AFS securities by major security type we re as follows (dollars in millions): March 31, 2024 Amortized 1 Gross Gross Fair Non-mortgage-backed securities Other U.S. obligations 2 $ 263 $ — $ (2) $ 261 GSE and Tennessee Valley Authority obligations 292 25 — 317 State or local housing agency obligations 547 1 (6) 542 Other 3 157 3 — 160 Total non-mortgage-backed securities 1,259 29 (8) 1,280 Mortgage-backed securities U.S. obligations single-family 2 4,691 14 (10) 4,695 GSE single-family 225 — (3) 222 GSE multifamily 18,523 61 (90) 18,494 Total mortgage-backed securities 23,439 75 (103) 23,411 Total $ 24,698 $ 104 $ (111) $ 24,691 December 31, 2023 Amortized 1 Gross Gross Fair Non-mortgage-backed securities Other U.S. obligations 2 $ 331 $ — $ (3) $ 328 GSE and Tennessee Valley Authority obligations 324 20 — 344 State or local housing agency obligations 461 2 (5) 458 Other 3 157 3 — 160 Total non-mortgage-backed securities 1,273 25 (8) 1,290 Mortgage-backed securities U.S. obligations single-family 2 4,421 1 (24) 4,398 GSE single-family 183 — (3) 180 GSE multifamily 18,124 15 (184) 17,955 Total mortgage-backed securities 22,728 16 (211) 22,533 Total $ 24,001 $ 41 $ (219) $ 23,823 1 Amortized cost includes adjustments made to the cost basis of an investment for accretion, amortization, and/or fair value hedge accounting adjustments, and excludes accrued interest receivable of $84 million and $82 million at March 31, 2024 and December 31, 2023. 2 Represents investment securities backed by the full faith and credit of the U.S. Government. 3 Consists primarily of taxable municipal bonds. The Bank had no sales of AFS securities during the three months ended March 31, 2024 and 2023. Unrealized Losses The following tables summarize AFS securities with gross unrealized losses by major security type and length of time that individual securities have been in a continuous unrealized loss position (dollars in millions). In cases where the gross unrealized losses for an investment category are less than $1 million, the losses are not reported. March 31, 2024 Less than 12 Months 12 Months or More Total Fair Gross Unrealized Fair Gross Unrealized Fair Gross Unrealized Non-mortgage-backed securities Other U.S. obligations 1 $ 59 $ (2) $ 30 $ — $ 89 $ (2) State or local housing agency obligations 90 (1) 380 (5) 470 (6) Total non-mortgage-backed securities 149 (3) 410 (5) 559 (8) Mortgage-backed securities U.S. obligations single-family 1 161 (2) 1,534 (8) 1,695 (10) GSE single-family 18 — 108 (3) 126 (3) GSE multifamily 1,655 (5) 7,437 (85) 9,092 (90) Total mortgage-backed securities 1,834 (7) 9,079 (96) 10,913 (103) Total $ 1,983 $ (10) $ 9,489 $ (101) $ 11,472 $ (111) December 31, 2023 Less than 12 Months 12 Months or More Total Fair Gross Unrealized Fair Gross Unrealized Fair Gross Unrealized Non-mortgage-backed securities Other U.S. obligations 1 $ 87 $ (3) $ 42 $ — $ 129 $ (3) State or local housing agency obligations — — 380 (5) 380 (5) Total non-mortgage-backed securities 87 (3) 422 (5) 509 (8) Mortgage-backed securities U.S. obligations single-family 1 1,813 (8) 2,410 (16) 4,223 (24) GSE single-family 25 — 112 (3) 137 (3) GSE multifamily 8,768 (70) 5,722 (114) 14,490 (184) Total mortgage-backed securities 10,606 (78) 8,244 (133) 18,850 (211) Total $ 10,693 $ (81) $ 8,666 $ (138) $ 19,359 $ (219) 1 Represents investment securities backed by the full faith and credit of the U.S. Government. Contractual Maturity The following table summarizes AFS securities by contractual maturity. Expected maturities of some securities may differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment fees (dollars in millions): March 31, 2024 December 31, 2023 Year of Contractual Maturity Amortized Fair Amortized Fair Non-mortgage-backed securities Due in one year or less $ 163 $ 162 $ 214 $ 212 Due after one year through five years 397 398 417 417 Due after five years through ten years 278 278 243 245 Due after ten years 421 442 399 416 Total non-mortgage-backed securities 1,259 1,280 1,273 1,290 Mortgage-backed securities 23,439 23,411 22,728 22,533 Total $ 24,698 $ 24,691 $ 24,001 $ 23,823 HTM Securities HTM securities by major security type wer e as follows (dollars in millions): March 31, 2024 Amortized 1 Gross Gross Fair Non-mortgage-backed securities GSE and Tennessee Valley Authority obligations $ 362 $ 7 $ (3) $ 366 State or local housing agency obligations 31 — — 31 Total non-mortgage-backed securities 393 7 (3) 397 Mortgage-backed securities U.S. obligations single-family 2 2 — — 2 GSE single-family 431 — (9) 422 Private-label 3 — — 3 Total mortgage-backed securities 436 — (9) 427 Total $ 829 $ 7 $ (12) $ 824 December 31, 2023 Amortized 1 Gross Gross Fair Non-mortgage-backed securities GSE and Tennessee Valley Authority obligations $ 364 $ 11 $ (3) $ 372 State or local housing agency obligations 31 — — 31 Total non-mortgage-backed securities 395 11 (3) 403 Mortgage-backed securities U.S. obligations single-family 2 1 — — 1 GSE single-family 453 — (10) 443 Private-label 3 — — 3 Total mortgage-backed securities 457 — (10) 447 Total $ 852 $ 11 $ (13) $ 850 1 Amortized cost includes adjustments made to the cost basis of an investment for accretion or amortization and excludes accrued interest receivable of $10 million and $5 million at March 31, 2024 and December 31, 2023. 2 Represents investment securities backed by the full faith and credit of the U.S. Government. The Bank had no sales of HTM securities during the three months ended March 31, 2024 and 2023. Contractual Maturity The following table summarizes HTM securities by contractual maturity. Expected maturities of some securities may differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment fees (dollars in millions): March 31, 2024 December 31, 2023 Year of Contractual Maturity Amortized Fair Amortized Fair Non-mortgage-backed securities Due after one year through five years $ 248 $ 246 $ 249 $ 249 Due after five years through ten years 73 74 73 76 Due after ten years 72 77 73 78 Total non-mortgage-backed securities 393 397 395 403 Mortgage-backed securities 436 427 457 447 Total $ 829 $ 824 $ 852 $ 850 ALLOWANCE FOR CREDIT LOSSES ON AFS AND HTM SECURITIES |
Advances
Advances | 3 Months Ended |
Mar. 31, 2024 | |
Advances [Abstract] | |
Advances [Text Block] | Advances REDEMPTION TERM The following table summarizes the Bank’s advances outstanding by redemption term (dollars in millions): March 31, 2024 December 31, 2023 Redemption Term Amount 1 Weighted Amount 1 Weighted Overdrawn demand deposit accounts $ 6 7.03 % $ 2 7.14 % Due in one year or less 57,478 5.16 $ 52,890 5.34 Due after one year through two years 14,947 4.39 14,866 4.12 Due after two years through three years 12,992 3.90 13,230 3.95 Due after three years through four years 10,336 4.33 8,689 4.35 Due after four years through five years 13,232 5.23 30,189 5.55 Thereafter 3,105 3.53 3,355 3.51 Total par value 112,096 4.80 % 123,221 4.98 % Premiums 3 6 Fair value hedging adjustments (1,123) (697) Total $ 110,976 $ 122,530 1 Excludes accrued interest receivable of $293 million and $392 million at March 31, 2024 and December 31, 2023. The Bank offers advances to members and eligible housing associates that may be prepaid on predetermined dates (call dates) prior to maturity without incurring prepayment fees (callable advances). Other advances may require a prepayment fee or credit that makes the Bank financially indifferent to the prepayment of the advance. At March 31, 2024 and December 31, 2023 , the Bank had callable advances outstanding totaling $23.6 billion and $31.8 billion. The following table summarizes advances by year of redemption term or next call date for callable advances (dollars in millions): Redemption Term March 31, 2024 December 31, 2023 Overdrawn demand deposit accounts $ 6 $ 2 Due in one year or less 71,450 82,983 Due after one year through two years 13,206 12,136 Due after two years through three years 10,438 10,584 Due after three years through four years 7,764 5,980 Due after four years through five years 6,173 8,228 Thereafter 3,059 3,308 Total par value $ 112,096 $ 123,221 PREPAYMENT FEES The Bank generally charges a prepayment fee for advances that a borrower elects to terminate prior to the stated maturity or outside of a predetermined call date. The fees charged are priced to make the Bank financially indifferent to the prepayment of the advance. For certain advances with symmetrical prepayment features, 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. Prepayment fees and credits are recorded net of the hedged item fair value hedging adjustments, if applicable, in advance interest income on the Statements of Income. ADVANCE CONCENTRATIONS The Bank’s advances are primarily concentrated in commercial banks and insurance companies. At March 31, 2024 and December 31, 2023, the Bank had outstanding advances of $28.0 billion and $37.0 billion to Wells Fargo Bank, N.A., which represented 25 percent and 30 percent of the total principal amount of outstanding advances. ALLOWANCE FOR CREDIT LOSSES The Bank evaluates advances for credit losses on a quarterly basis. At March 31, 2024 and December 31, 2023, none of the Bank’s advances were past due, on non-accrual status, or considered impaired. The Bank considers an advance past due if a default of contractual principal or interest exists for a period of 30 days or more. In addition, there were no modifications related to advances resulting from a borrower experiencing financial difficulties during the three months ended March 31, 2024 and 2023. The Bank has never experienced a credit loss on its advances. Based upon the Bank’s collateral and lending policies, the collateral held as security, and the repayment history on advances, management has determined that there were no expected credit losses on its advances at March 31, 2024 and December 31, 2023. For additional information on the Bank’s allowance methodology, including eligible collateral types, see “Item 8. Financial Statements and Supplementary Data — Note 5 — Advances” in the 2023 Form 10-K. |
Mortgage Loans Held for Portfol
Mortgage Loans Held for Portfolio | 3 Months Ended |
Mar. 31, 2024 | |
Receivables [Abstract] | |
Mortgage Loans Held for Portfolio [Text Block] | Mortgage Loans Held for Portfolio Mortgage loans held for portfolio include conventional mortgage loans and government-guaranteed or -insured mortgage loans obtained primarily through the MPF program. The Bank’s mortgage loan program involves investment by the Bank in single-family mortgage loans held for portfolio that are purchased from PFIs. Mortgage loans may also be acquired through participations in pools of eligible mortgage loans purchased from other FHLBanks. The Bank’s PFIs generally originate, service, and credit enhance mortgage loans that are sold to the Bank. PFIs participating in the servicing release program do not service the loans owned by the Bank. The servicing on these loans is sold concurrently by the PFI to a designated mortgage service provider. The following table presents information on the Bank’s mortgage loans held for portfolio (dollars in millions): March 31, 2024 December 31, 2023 Fixed rate, long-term 1 single-family mortgage loans $ 9,335 $ 8,939 Fixed rate, medium-term 2 single-family mortgage loans 928 945 Total unpaid principal balance 10,263 9,884 Premiums 117 113 Discounts (11) (11) Basis adjustments from mortgage loan purchase commitments (13) (13) Total mortgage loans held for portfolio 3 10,356 9,973 Allowance for credit losses (5) (6) Total mortgage loans held for portfolio, net $ 10,351 $ 9,967 1 Long-term is defined as an original term of greater than 15 years and up to 30 years. 2 Medium-term is defined as an original term of 15 years or less. 3 Excludes accrued interest receivable of $63 million and $58 million at March 31, 2024 and December 31, 2023. The following table presents the Bank’s mortgage loans held for portfolio by collateral or guarantee type (dollars in millions): March 31, 2024 December 31, 2023 Conventional mortgage loans $ 9,887 $ 9,506 Government-insured mortgage loans 376 378 Total unpaid principal balance $ 10,263 $ 9,884 PAYMENT STATUS OF MORTGAGE LOANS Payment status is the key credit quality indicator for conventional mortgage loans and allows the Bank to monitor borrower performance. Past due loans are those where the borrower has failed to make contractual principal and/or interest payments for a period of 30 days or more. Other delinquency statistics include non-accrual loans and loans in process of foreclosure. The following tables present the payment status for conventional mortgage loans (dollars in millions): March 31, 2024 Origination Year Prior to 2020 2020 to 2024 Total Past due 30 - 59 days $ 28 $ 24 $ 52 Past due 60 - 89 days 8 6 14 Past due 90 - 179 days 5 6 11 Past due 180 days or more 4 2 6 Total past due mortgage loans 45 38 83 Total current mortgage loans 2,581 7,310 9,891 Total amortized cost of mortgage loans 1 $ 2,626 $ 7,348 $ 9,974 December 31, 2023 Origination Year Prior to 2019 2019 to 2023 Total Past due 30 - 59 days $ 20 $ 30 $ 50 Past due 60 - 89 days 6 6 12 Past due 90 - 179 days 5 7 12 Past due 180 days or more 4 1 5 Total past due mortgage loans 35 44 79 Total current mortgage loans 1,752 7,758 9,510 Total amortized cost of mortgage loans 1 $ 1,787 $ 7,802 $ 9,589 1 Amortized cost represents the unpaid principal balance adjusted for unamortized premiums, discounts, price adjustment fees, basis adjustments, and direct write-downs. Amortized cost excludes accrued interest receivable. The following tables present other delinquency statistics for mortgage loans (dollars in millions): March 31, 2024 Amortized Cost Conventional Government-Insured Total In process of foreclosure 1 $ 3 $ 1 $ 4 Serious delinquency rate 2 — % 1 % — % Past due 90 days or more and still accruing interest 3 $ — $ 4 $ 4 Non-accrual mortgage loans 4 $ 44 $ — $ 44 December 31, 2023 Amortized Cost Conventional Government- Insured Total In process of foreclosure 1 $ 2 $ 1 $ 3 Serious delinquency rate 2 — % 1 % — % Past due 90 days or more and still accruing interest 3 $ — $ 5 $ 5 Non-accrual mortgage loans 4 $ 40 $ — $ 40 1 Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu has been reported. 2 Represents mortgage loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of total mortgage loans. Serious delinquency rate on conventional loans was less than one percent at both March 31, 2024 and December 31, 2023. 3 Represents government-insured mortgage loans that are 90 days or more past due. 4 Represents conventional mortgage loans that are 90 days or more past due or for which the collection of interest or principal is doubtful. At March 31, 2024 and December 31, 2023, $25 million and $24 million of conventional mortgage loans on non-accrual status were evaluated individually and did not have a related allowance for credit losses because these loans were either previously charged off to the expected recoverable value and/or the fair value of the underlying collateral was greater than the amortized cost of the loans. ALLOWANCE FOR CREDIT LOSSES The Bank evaluates mortgage loans for credit losses on a quarterly basis. At March 31, 2024 and December 31, 2023, the Bank’s allowance for credit losses on conventional mortgage loans was $5 million and $6 million. The Bank recorded no credit losses on its government-insured mortgage loans at March 31, 2024 and December 31, 2023. For additional information on the Bank’s allowance methodology, refer to “Item 8. Financial Statements and Supplementary Data — Note 6 — Mortgage Loans Held for Portfolio” in the 2023 Form 10-K. |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 3 Months Ended |
Mar. 31, 2024 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities [Text Block] | Derivatives and Hedging Activities NATURE OF BUSINESS ACTIVITY The Bank enters into derivative contracts to manage the interest rate risk exposures inherent in its otherwise unhedged assets and funding positions. Finance Agency regulations and the Bank’s risk management policies establish guidelines for derivatives, prohibit trading in or the speculative use of derivatives, and limit credit risk arising from derivatives. For additional information on the Bank’s derivative and hedging accounting policies, see “Item 8. Financial Statements and Supplementary Data — Note 1 — Summary of Significant Accounting Policies” in the 2023 Form 10-K. For additional information on the types of derivatives and hedged items utilized by the Bank, see “Item 8. Financial Statements and Supplementary Data — Note 7 — Derivatives and Hedging Activities” in the 2023 Form 10-K. FINANCIAL STATEMENT EFFECT AND ADDITIONAL FINANCIAL INFORMATION The notional amount of derivatives serves as a factor in determining periodic interest payments and 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 and market risk. The risks of derivatives can be measured meaningfully on a portfolio basis that takes into account the counterparties, the types of derivatives, the items being hedged, and any offsets between the derivatives and the items being hedged. The following table summarizes the Bank’s notional amount and fair value of derivative instruments and total derivative assets and liabilities. Total derivative assets and liabilities include the effect of netting adjustments and cash collateral. For purposes of this disclosure, the derivative values include the fair value of derivatives and the related accrued interest (dollars in millions): March 31, 2024 December 31, 2023 Notional Derivative Derivative Notional Derivative Derivative Derivatives designated as hedging instruments (fair value hedges) Interest rate swaps $ 104,282 $ 351 $ 93 $ 112,954 $ 290 $ 98 Derivatives not designated as hedging instruments (economic hedges) Interest rate swaps 61,973 2 2 53,050 1 2 Forward settlement agreements 150 — — 115 — 1 Mortgage loan purchase commitments 148 — — 112 1 — Total derivatives not designated as hedging instruments 62,271 2 2 53,277 2 3 Total derivatives before netting and collateral adjustments $ 166,553 353 95 $ 166,231 292 101 Netting adjustments and cash collateral 1 898 (81) 975 (94) Total derivative assets and derivative liabilities $ 1,251 $ 14 $ 1,267 $ 7 1 Amounts represent the application of the netting requirements that allow the Bank to net settle positive and negative positions and also cash collateral, including accrued interest, held or placed with the same clearing agent and/or counterparty. At both March 31, 2024 and December 31, 2023, cash collateral, including accrued interest, posted by the Bank was $1.3 billion. At March 31, 2024 and December 31, 2023, the Bank held cash collateral, including accrued interest, from clearing agents or counterparties of $284 million and $197 million. The following tables summarize the net gains (losses) on qualifying and discontinued fair value hedging relationships recorded in net interest income, including the net interest settlements on derivatives, as well as total income (expense) by hedged product recorded on the Statements of Income (dollars in millions): For the Three Months Ended March 31, 2024 Interest Income (Expense) Advances AFS Securities Consolidated Obligation Bonds Total interest income (expense) recorded on the Statements of Income 1 $ 1,698 $ 375 $ (1,429) Gains (losses) on fair value hedging relationships Interest rate contracts Derivatives 2 $ 650 $ 485 $ (152) Hedged items 3 (426) (387) 100 Net gains (losses) on fair value hedging relationships $ 224 $ 98 $ (52) For the Three Months Ended March 31, 2023 Interest Income (Expense) Advances AFS Securities Consolidated Obligation Bonds Total interest income (expense) recorded on the Statements of Income 1 $ 1,394 $ 224 $ (983) Gains (losses) on fair value hedging relationships Interest rate contracts Derivatives 2 $ (122) $ (195) $ 46 Hedged items 3 260 260 (110) Net gains (losses) on fair value hedging relationships $ 138 $ 65 $ (64) 1 Amounts shown to give context to the disclosure and include total interest income (expense) of the products indicated, including coupon, prepayment fees, amortization, and derivative net interest settlements. Interest income (expense) amounts also include gains and losses on derivatives and hedged items in fair value hedging relationships. 2 Includes changes in fair value and net interest settlements on derivatives. 3 Includes changes in fair value and amortization/accretion of basis adjustments on closed hedge relationships. The following tables summarize cumulative fair value hedging adjustments and the related amortized cost of the hedged items (dollars in millions): March 31, 2024 Advances AFS Securities Consolidated Obligation Bonds Amortized cost of hedged asset/ liability 1 $ 49,812 $ 17,113 $ 36,712 Fair value hedging adjustments Changes in fair value for active hedging relationships included in amortized cost $ (1,071) $ (784) $ (120) Basis adjustments for discontinued hedging relationships included in amortized cost (52) (30) (5) Total amount of fair value hedging adjustments $ (1,123) $ (814) $ (125) December 31, 2023 Advances AFS Securities Consolidated Obligation Bonds Amortized cost of hedged asset/ liability 1 $ 43,584 $ 16,749 $ 51,393 Fair value hedging adjustments Changes in fair value for active hedging relationships included in amortized cost $ (645) $ (395) $ (17) Basis adjustments for discontinued hedging relationships included in amortized cost (52) (32) (8) Total amount of fair value hedging adjustments $ (697) $ (427) $ (25) 1 Represents the portion of amortized cost designated as a hedged item in an active or discontinued fair value hedging relationship. Amortized cost includes fair value hedging adjustments. The following table summarizes the components of “Net gains (losses) on derivatives” as presented on the Statements of Income (dollars in millions): For the Three Months Ended March 31, 2024 2023 Derivatives not designated as hedging instruments (economic hedges) Interest rate swaps $ (11) $ 40 Forward settlement agreements — (1) Mortgage loan purchase commitments (1) — Net interest settlements (9) (22) Total net gains (losses) related to derivatives not designated as hedging instruments (21) 17 Price alignment amount 1 — (7) Net gains (losses) on derivatives $ (21) $ 10 1 This amount represents interest on variation margin, which is a component of the derivative fair value for cleared transactions, and reflects the price alignment amount on variation margin for daily settled derivative contracts not designated as hedging instruments. The price alignment amount on variation margin for daily settled derivative contracts designated as hedging instruments are recorded in the same line item as the earnings effect of the hedged item. MANAGING CREDIT RISK ON DERIVATIVES The Bank is subject to credit risk due to the risk of nonperformance by counterparties to its derivative contracts. The Bank manages credit risk through credit analysis of derivative counterparties, collateral requirements, and adherence to the requirements set forth in the Bank’s policies, CFTC regulations, and Finance Agency regulations. The Bank transacts most of its derivative transactions with large banks and major broker-dealers. Over-the-counter derivative transactions may be either executed directly with a counterparty, referred to as uncleared derivatives, or cleared through a clearing agent with a clearinghouse, referred to as cleared derivatives. Once a derivative transaction has been accepted for clearing by a clearinghouse, the derivative transaction is novated and the executing counterparty is replaced with the clearinghouse. The Bank is not a derivative dealer and does not trade derivatives for short-term profit. For uncleared derivatives, the degree of credit risk is impacted by the extent to which master netting arrangements are included in the derivative contracts to mitigate the risk. The Bank requires collateral agreements on its uncleared derivatives. Uncleared derivative transactions executed on or after September 1, 2022 are subject to two-way initial margin requirements as mandated by the Dodd-Frank Act, if the Bank’s aggregate uncleared derivative transactions exposure to a counterparty exceeds a specified threshold. The initial margin is required to be held at a third-party custodian and does not change ownership. Rather, the party in respect of which the initial margin has been posted to the third-party custodian will have a security interest in the amount of initial margin required under the uncleared margin rules and can only take ownership upon the occurrence of certain events, including an event of default due to bankruptcy, insolvency, or similar proceeding. As of March 31, 2024, the Bank was not required to post initial margin on its uncleared derivative transactions in accordance with the noted regulations. For uncleared transactions, the derivative agreements are generally fully collateralized with a zero unsecured threshold in accordance with variation margin requirements issued by the U.S. federal bank regulatory agencies and the CFTC. For cleared derivatives, the clearinghouse is the Bank’s counterparty. The Bank utilizes two clearinghouses, CME Clearing and LCH Ltd., for all cleared derivative transactions. CME Clearing and LCH Ltd. notify the clearing agent of the required initial margin and daily variation margin requirements, and the clearing agent in turn notifies the Bank. Each clearinghouse determines initial margin requirements which are considered cash collateral. Generally credit ratings are not factored into the initial margin. However, clearing agents may require additional initial margin to be posted based on credit considerations, including, but not limited to, credit rating downgrades. The Bank was not required to post additional initial margin by its clearing agent, based on credit considerations, at March 31, 2024. Variation margin requirements with each clearinghouse are based on changes in the fair value of cleared derivatives and are legally characterized as daily settlement payments, rather than cash collateral. The requirement that the Bank post initial and variation margin through the clearing agent, to the clearinghouse, exposes the Bank to institutional credit risk if the clearing agent or the clearinghouse fails to meet its obligations. The use of cleared derivatives is intended to mitigate credit risk exposure because a central counterparty is substituted for individual counterparties and collateral/payments for changes in the fair value of cleared derivatives is posted daily through a clearing agent. OFFSETTING OF DERIVATIVE ASSETS AND DERIVATIVE LIABILITIES The Bank presents derivative instruments, related cash collateral received or pledged, and associated accrued interest on a net basis by clearing agent and/or by counterparty when it has met the netting requirements. Additional information regarding these agreements is provided in “Item 8. Financial Statements and Supplementary Data — Note 1 — Summary of Significant Accounting Policies” in the 2023 Form 10-K. The Bank has analyzed the enforceability of offsetting rights incorporated in its cleared derivative transactions and has determined that the exercise of those offsetting rights by a non-defaulting party under these transactions should be upheld under applicable law upon an event of default, including a bankruptcy, insolvency, or similar proceeding involving the clearinghouse or the clearing agent, or both. 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 clearinghouse. The following tables present the fair value of derivative instruments meeting or not meeting the netting requirements and the related collateral received from or pledged to counterparties (dollars in millions): March 31, 2024 Derivative Instruments Meeting Netting Requirements Gross Amount Recognized 1 Gross Amount of Netting Adjustments and Cash Collateral Derivative Instruments Not Meeting Netting Requirements 2 Total Derivative Assets and Total Derivative Liabilities Derivative Assets Uncleared derivatives $ 319 $ (305) $ — $ 14 Cleared derivatives 34 1,203 — 1,237 Total $ 353 $ 898 $ — $ 1,251 Derivative Liabilities Uncleared derivatives $ 89 $ (75) $ — $ 14 Cleared derivatives 6 (6) — — Total $ 95 $ (81) $ — $ 14 December 31, 2023 Derivative Instruments Meeting Netting Requirements Gross Amount Recognized 1 Gross Amount of Netting Adjustments and Cash Collateral Derivative Instruments Not Meeting Netting Requirements 2 Total Derivative Assets and Total Derivative Liabilities Derivative Assets Uncleared derivatives $ 248 $ (245) $ 1 $ 4 Cleared derivatives 43 1,220 — 1,263 Total $ 291 $ 975 $ 1 $ 1,267 Derivative Liabilities Uncleared derivatives $ 95 $ (88) $ — $ 7 Cleared derivatives 6 (6) — — Total $ 101 $ (94) $ — $ 7 1 Represents derivative assets and derivative liabilities prior to netting adjustments and cash collateral, including accrued interest. 2 Represents mortgage loan purchase commitments not subject to enforceable master netting requirements. |
Consolidated Obligations
Consolidated Obligations | 3 Months Ended |
Mar. 31, 2024 | |
Debt Disclosure [Abstract] | |
Consolidated Obligations [Text Block] | Consolidated Obligations Consolidated obligations consist of bonds and discount notes. The FHLBanks issue consolidated obligations through the Office of Finance as their agent. Bonds are issued primarily to raise intermediate- and long-term funds for the Bank and are not subject to any statutory or regulatory limits on their maturity. Discount notes are issued primarily to raise short-term funds for the Bank and have original maturities of up to one year. Discount notes sell at or below their face amount and are redeemed at par value when they mature. Although the Bank is primarily liable for the portion of consolidated obligations issued on its behalf, it is also jointly and severally liable with the other FHLBanks for the payment of principal and interest on all FHLBank System consolidated obligations. The Finance Agency, at its discretion, may require any FHLBank to make principal and/or interest payments due on any consolidated obligation, whether or not the primary obligor FHLBank has defaulted on the payment of that consolidated obligation. The Finance Agency has never exercised this discretionary authority. At March 31, 2024 and December 31, 2023, the total par value of outstanding consolidated obligations of the FHLBanks was $1,172.4 billion and $1,204.3 billion. DISCOUNT NOTES The following table summarizes the Bank’s discount notes (dollars in millions): March 31, 2024 December 31, 2023 Amount Weighted Amount Weighted Par value $ 64,923 4.96 % $ 55,288 5.15 % Discounts and concessions 1 (1,513) (736) Fair value option adjustments (52) (15) Total $ 63,358 $ 54,537 1 Concessions represent fees paid to dealers in connections with the issuance of certain consolidated obligation discount notes. BONDS The following table summarizes the Bank’s bonds outstanding by contractual maturity (dollars in millions): March 31, 2024 December 31, 2023 Year of Contractual Maturity Amount Weighted Amount Weighted Due in one year or less $ 48,272 4.93 % $ 63,887 5.10 % Due after one year through two years 36,964 5.34 39,323 5.38 Due after two years through three years 4,135 4.03 4,159 4.00 Due after three years through four years 2,155 3.76 1,416 3.28 Due after four years through five years 2,807 4.41 2,507 4.19 Thereafter 6,463 3.47 5,671 3.14 Total par value 100,796 4.91 % 116,963 5.02 % Premiums 43 52 Discounts and concessions 1 (27) (29) Fair value hedging adjustments (125) (25) Total $ 100,687 $ 116,961 1 Concessions represent fees paid to dealers in connections with the issuance of certain consolidated obligation bonds. The following table summarizes the Bank’s bonds outstanding by call features (dollars in millions): March 31, 2024 December 31, 2023 Non-callable or non-putable $ 70,378 $ 77,731 Callable 30,418 39,232 Total par value $ 100,796 $ 116,963 The following table summarizes the Bank’s bonds outstanding by year of contractual maturity or next call date (dollars in millions): Year of Contractual Maturity or Next Call Date March 31, 2024 December 31, 2023 Due in one year or less $ 62,492 $ 76,142 Due after one year through two years 30,764 33,413 Due after two years through three years 3,690 3,479 Due after three years through four years 1,074 880 Due after four years through five years 1,579 1,819 Thereafter 1,197 1,230 Total par value $ 100,796 $ 116,963 |
Capital
Capital | 3 Months Ended |
Mar. 31, 2024 | |
Banking Regulation, Total Capital [Abstract] | |
Capital [Text Block] | Capital CAPITAL STOCK The Bank’s capital stock has a par value of $100 per share, and all shares are issued, redeemed, and repurchased only at the stated par value. The Bank issues a single class of capital stock (Class B capital stock) and has two subclasses of Class B capital stock: membership and activity-based. Each member must purchase and hold membership capital stock in an amount equal to 0.06 percent of its total assets as of the preceding December 31 st , subject to a cap of $10 million and a floor of $10,000. Each member is also required to purchase activity-based capital stock equal to 4.50 percent of its outstanding advances, 4.00 percent of its outstanding mortgage loans, and 0.10 percent of its standby letters of credit. All capital stock issued is subject to a notice of redemption period of five years. The capital stock requirements established in the Bank’s Capital Plan are designed so that the Bank can remain adequately capitalized as member activity changes. The Bank’s Board of Directors may make adjustments to the capital stock requirements within ranges established in the Capital Plan. EXCESS STOCK Capital stock owned by members in excess of their investment requirement is deemed excess capital stock. Under its Capital Plan, the Bank, at its discretion and upon 15 days written notice, may repurchase excess membership capital stock. The Bank, at its discretion, may also repurchase excess activity-based capital stock to the extent that (i) the excess capital stock balance exceeds an operational threshold set forth in the Capital Plan, which is currently set at zero, or (ii) a member submits a notice to redeem all or a portion of the excess activity-based capital stock. At March 31, 2024 and December 31, 2023, the Bank had no excess capital stock outstanding. MANDATORILY REDEEMABLE CAPITAL STOCK The Bank reclassifies capital stock subject to redemption from equity to a liability, which represents MRCS, at the time shares meet the definition of a mandatorily redeemable financial instrument. This occurs after a member provides written notice of intention to withdraw from membership, becomes ineligible for continuing membership, or attains non-member status by merger or consolidation, charter termination, or other involuntary termination from membership. Dividends on MRCS are classified as interest expense on the Statements of Income. The following table summarizes changes in MRCS (dollars in millions): For the Three Months Ended March 31, 2024 2023 Balance, beginning of period $ 12 $ 15 Net payments for repurchases/redemptions of MRCS (2) (1) Balance, end of period $ 10 $ 14 The following table summarizes the Bank’s MRCS by year of contractual redemption (dollars in millions): Year of Contractual Redemption 1 March 31, 2024 December 31, 2023 Due after one year through two years $ 5 $ — Due after two years through three years — 6 Past contractual redemption date due to outstanding activity with the Bank 5 6 Total $ 10 $ 12 1 At the Bank’s election, MRCS may be redeemed prior to the expiration of the five year redemption period that commences on the date of the notice of redemption. RESTRICTED RETAINED EARNINGS The Bank entered into a JCE Agreement with all of the other FHLBanks in 2011. The JCE Agreement, as amended, is intended to enhance the capital position of the Bank over time. Under the JCE Agreement, each FHLBank is required to allocate 20 percent of its quarterly net income to a separate restricted retained earnings account until the balance of that account, calculated as of the last day of each calendar quarter, equals at least one percent of its average balance of outstanding consolidated obligations for the calendar quarter. The restricted retained earnings are not available to pay dividends. At March 31, 2024 and December 31, 2023, the Bank’s restricted retained earnings account totaled $951 million and $896 million. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes changes in AOCI (dollars in millions): Net unrealized gains (losses) on AFS securities (Note 3) Pension and postretirement benefits Total AOCI Balance, December 31, 2022 $ (114) $ (3) $ (117) Other comprehensive income (loss) before reclassifications Net unrealized gains (losses) on AFS securities (67) — (67) Net actuarial gains (losses) — 1 1 Net current period other comprehensive income (loss) (67) 1 (66) Balance, March 31, 2023 $ (181) $ (2) $ (183) Balance, December 31, 2023 $ (178) $ (2) $ (180) Other comprehensive income (loss) before reclassifications Net unrealized gains (losses) on AFS securities 171 — 171 Net current period other comprehensive income (loss) 171 — 171 Balance, March 31, 2024 $ (7) $ (2) $ (9) REGULATORY CAPITAL REQUIREMENTS The Bank is subject to three regulatory capital requirements: • Risk-based capital . The Bank must maintain at all times permanent capital greater than or equal to the sum of its credit, market, and operational risk capital requirements, all calculated in accordance with Finance Agency regulations. Only permanent capital, defined as the amounts paid-in for Class B capital stock (including MRCS), and retained earnings can satisfy this risk-based capital requirement. • Regulatory capital . The Bank is required to maintain a minimum four percent capital-to-asset ratio, which is defined as total regulatory capital divided by total assets. Total regulatory capital includes Class B stock (including MRCS) and retained earnings. • Leverage capital . The Bank is required to maintain a minimum five percent leverage ratio, which is defined as the sum of permanent capital weighted 1.5 times and nonpermanent capital weighted 1.0 times, divided by total assets. The Bank did not hold any nonpermanent capital at March 31, 2024 and December 31, 2023. In addition to the requirements previously discussed, the Capital Stock AB requires each FHLBank to maintain at all times a ratio of at least two percent of capital stock to total assets. For purposes of the Capital Stock AB, capital stock includes MRCS. The capital stock to total assets ratio is measured on a daily average basis at month end. If the Bank’s capital falls below the required levels, the Finance Agency has authority to take actions necessary to return it to levels that it deems to be consistent with safe and sound business operations. The following table shows the Bank’s compliance with the Finance Agency’s regulatory capital requirements (dollars in millions): March 31, 2024 December 31, 2023 Required Actual Required Actual Regulatory capital requirements Risk-based capital $ 1,497 $ 9,728 $ 1,641 $ 10,023 Regulatory capital $ 7,051 $ 9,728 $ 7,376 $ 10,023 Leverage capital $ 8,813 $ 14,592 $ 9,220 $ 15,034 Capital-to-assets ratio 4.00 % 5.52 % 4.00 % 5.44 % Capital stock-to-assets ratio 2.00 % 3.49 % 2.00 % 3.59 % Leverage ratio 5.00 % 8.28 % 5.00 % 8.15 % |
Fair Value
Fair Value | 3 Months Ended |
Mar. 31, 2024 | |
Fair Value Disclosures [Abstract] | |
Fair Value [Text Block] | Fair Value Fair value amounts are determined by the Bank using available market information and reflect the Bank’s best judgment of appropriate valuation methods. 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., exit price). The fair value hierarchy requires an entity to maximize the use of significant observable inputs and minimize the use of significant unobservable inputs when measuring fair value. 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 prioritizes the inputs used to measure fair value into three broad levels: • Level 1 Inputs. Quoted prices (unadjusted) for identical assets or liabilities in an active market that the Bank can access on the measurement date. An active market for an 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. 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: (i) quoted prices for similar assets or liabilities in active markets, (ii) quoted prices for identical or similar assets or liabilities in markets that are not active, (iii) 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 (iv) market-corroborated inputs. • Level 3 Inputs. Unobservable inputs for the asset or liability. Valuations are derived from techniques that use significant assumptions not observable in the market, which may include pricing models, discounted cash flow models, or similar techniques. The Bank reviews its 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. The following table summarizes the carrying value, fair value, and fair value hierarchy of the Bank’s financial instruments (dollars in millions). The Bank records trading securities, AFS securities, derivative assets, derivative liabilities, financial instruments held under the fair value option, and certain other assets at fair value on a recurring basis, and on occasion certain impaired mortgage loans held for portfolio on a non-recurring basis. The Bank records all other financial assets and liabilities at amortized cost. The fair values do 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 assets and liabilities. March 31, 2024 Fair Value Financial Instruments Carrying Value Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral 1 Total Assets Cash and due from banks $ 32 $ 32 $ — $ — $ — $ 32 Interest-bearing deposits 3,711 — 3,711 — — 3,711 Securities purchased under agreements to resell 12,950 — 12,950 — — 12,950 Federal funds sold 8,305 — 8,305 — — 8,305 Trading securities 2,532 — 2,532 — — 2,532 Available-for-sale securities 24,691 — 24,691 — — 24,691 Held-to-maturity securities 829 — 821 3 — 824 Advances 110,976 — 111,068 — — 111,068 Mortgage loans held for portfolio, net 10,351 — 9,278 31 — 9,309 Accrued interest receivable 506 — 506 — — 506 Derivative assets, net 1,251 — 353 — 898 1,251 Other assets 41 41 — — — 41 Liabilities Deposits (1,109) — (1,109) — — (1,109) Consolidated obligations Discount notes (63,358) — (63,356) — — (63,356) Bonds (100,687) — (99,882) — — (99,882) Total consolidated obligations (164,045) — (163,238) — — (163,238) MRCS (10) (10) — — — (10) Accrued interest payable (967) — (967) — — (967) Derivative liabilities, net (14) — (95) — 81 (14) 1 Amounts represent the application of the netting requirements that allow the Bank to net settle positive and negative positions and also cash collateral and the related accrued interest held or placed with the same clearing agent and/or counterparty. The following table summarizes the carrying value, fair value, and fair value hierarchy of the Bank’s financial instruments (dollars in millions): December 31, 2023 Fair Value Financial Instruments Carrying Value Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral 1 Total Assets Cash and due from banks $ 31 $ 31 $ — $ — $ — $ 31 Interest-bearing deposits 3,481 — 3,481 — — 3,481 Securities purchased under agreements to resell 11,400 — 11,400 — — 11,400 Federal funds sold 7,120 — 7,120 — — 7,120 Trading securities 3,152 — 3,152 — — 3,152 Available-for-sale securities 23,823 — 23,823 — — 23,823 Held-to-maturity securities 852 — 847 3 — 850 Advances 122,530 — 122,512 — — 122,512 Mortgage loans held for portfolio, net 9,967 — 9,051 30 — 9,081 Accrued interest receivable 582 — 582 — — 582 Derivative assets, net 1,267 — 292 — 975 1,267 Other assets 39 39 — — — 39 Liabilities Deposits (1,039) — (1,039) — — (1,039) Consolidated obligations Discount notes (54,537) — (54,534) — — (54,534) Bonds (116,961) — (116,121) — — (116,121) Total consolidated obligations (171,498) — (170,655) — — (170,655) MRCS (12) (12) — — — (12) Accrued interest payable (1,023) — (1,023) — — (1,023) Derivative liabilities, net (7) — (101) — 94 (7) 1 Amounts represent the application of the netting requirements that allow the Bank to net settle positive and negative positions and also cash collateral and the related accrued interest held or placed with the same clearing agent and/or counterparty. SUMMARY OF VALUATION TECHNIQUES 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 on the Statements of Condition are disclosed in “Item 8. Financial Statements and Supplementary Data — Note 13 — Fair Value” in the 2023 Form 10-K. There have been no significant changes in the valuation methodologies during the three months ended March 31, 2024. FAIR VALUE ON A RECURRING BASIS The following table summarizes, for each hierarchy level, the Bank’s assets and liabilities that are measured at fair value on the Statements of Condition (dollar s in millions): March 31, 2024 Recurring Fair Value Measurements Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral 1 Total Assets Trading securities U.S. Treasury obligations $ — $ 2,314 $ — $ — $ 2,314 Other U.S. obligations — 63 — — 63 GSE and TVA obligations — 48 — — 48 Other non-MBS — 107 — — 107 Total trading securities — 2,532 — — 2,532 Available-for-sale securities Other U.S. obligations — 261 — — 261 GSE and TVA obligations — 317 — — 317 State or local housing agency obligations — 542 — — 542 Other non-MBS — 160 — — 160 U.S. obligations single-family MBS — 4,695 — — 4,695 GSE single-family MBS — 222 — — 222 GSE multifamily MBS — 18,494 — — 18,494 Total available-for-sale securities — 24,691 — — 24,691 Derivative assets, net Interest-rate related — 353 — 898 1,251 Other assets 41 — — — 41 Total recurring assets at fair value $ 41 $ 27,576 $ — $ 898 $ 28,515 Liabilities Discount notes 2 $ — $ (59,599) $ — $ — $ (59,599) Derivative liabilities, net Interest-rate related — (95) — 81 (14) Total recurring liabilities at fair value $ — $ (59,694) $ — $ 81 $ (59,613) 1 Amounts represent the application of the netting requirements that allow the Bank to net settle positive and negative positions and also cash collateral and the related accrued interest held or placed with the same clearing agent and/or counterparty. 2 Represents financial instruments recorded under the fair value option. The following table summarizes, for each hierarchy level, the Bank’s assets and liabilities that are measured at fair value on the Statements of Condition (dollars in millions): December 31, 2023 Recurring Fair Value Measurements Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral 1 Total Assets Trading securities U.S. Treasury obligations $ — $ 2,925 $ — $ — $ 2,925 Other U.S. obligations — 68 — — 68 GSE and TVA obligations — 49 — — 49 Other non-MBS — 110 — — 110 Total trading securities — 3,152 — — 3,152 Available-for-sale securities Other U.S. obligations — 328 — — 328 GSE and TVA obligations — 344 — — 344 State or local housing agency obligations — 458 — — 458 Other non-MBS — 160 — — 160 U.S. obligations single-family MBS — 4,398 — — 4,398 GSE single-family MBS — 180 — — 180 GSE multifamily MBS — 17,955 — — 17,955 Total available-for-sale securities — 23,823 — — 23,823 Derivative assets, net Interest-rate related — 291 — 975 1,266 Mortgage loan purchase commitments — 1 — — 1 Total derivative assets, net — 292 — 975 1,267 Other assets 39 — — — 39 Total recurring assets at fair value $ 39 $ 27,267 $ — $ 975 $ 28,281 Liabilities Discount notes 2 $ — $ (47,442) $ — $ — $ (47,442) Derivative liabilities, net Interest-rate related — (100) — 94 (6) Forward settlement agreements (TBAs) — (1) — — (1) Total derivative liabilities, net — (101) — 94 (7) Total recurring liabilities at fair value $ — $ (47,543) $ — $ 94 $ (47,449) 1 Amounts represent the application of the netting requirements that allow the Bank to net settle positive and negative positions and also cash collateral and the related accrued interest held or placed with the same clearing agent and/or counterparty. 2 Represents financial instruments recorded under the fair value option. FAIR VALUE ON A NON-RECURRING BASIS The Bank measures certain impaired mortgage loans held for portfolio at Level 3 fair value on a non-recurring basis. These assets are subject to fair value adjustments in certain circumstances. At March 31, 2024 and December 31, 2023, impaired mortgage loans held for portfolio recorded at fair value as a result of a non-recurring change in fair value were $2 million and $1 million. These fair values were as of the date the fair value adjustment was recorded during the three months ended March 31, 2024 and year ended December 31, 2023. FAIR VALUE OPTION The fair value option provides 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 entities to display the fair value of those assets and liabilities for which it 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. The Bank elects the fair value option for certain financial instruments when a hedge relationship does not qualify for hedge accounting. These fair value elections are made primarily in an effort to mitigate the potential income statement volatility that can arise when an economic derivative is adjusted for changes in fair value but the related hedged item is not. For financial instruments recorded under the fair value option, the related contractual interest income, interest expense, and the discount amortization on fair value option discount notes are recorded as part of net interest income on the Statements of Income. The remaining changes are recorded as “Net gains (losses) on financial instruments held under fair value option” on the Statements of Income. For the three months ended March 31, 2024, net gains on financial instruments held under fair value option (i.e., discount notes) were $37 million compared to net losses of $65 million for the same period in 2023, and the Bank determined no credit risk adjustments for nonperformance were necessary. In determining that no credit risk adjustments were necessary, the Bank considered the following factors: • The Bank is a federally chartered GSE, and as a result of this status, the Bank’s consolidated obligations have historically received the same credit rating 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 the FHLBanks. The following tables summarize the difference between the unpaid principal balance and fair value of outstanding instruments for which the fair value option has been elected (dollars in millions): March 31, 2024 Unpaid Principal Balance Fair Value Fair Value Over (Under) Unpaid Principal Discount Notes $ 61,128 $ 59,599 $ (1,529) December 31, 2023 Unpaid Principal Balance Fair Value Fair Value Over (Under) Unpaid Principal Discount Notes $ 48,164 $ 47,442 $ (722) |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies [Text Block] | Commitments and Contingencies Joint and Several Liability . The FHLBanks have joint and several liability for all consolidated obligations issued. Accordingly, if an FHLBank were unable to repay any consolidated obligation for which it is the primary obligor, each of the other FHLBanks could be called upon by the Finance Agency to repay all or part of such obligations. No FHLBank has ever been asked or required to repay the principal or interest on any consolidated obligation on behalf of another FHLBank. A t March 31, 2024 and December 31, 2023, the total par value of outstanding consolidated obligations issued on behalf of other FHLBanks for which the Bank is jointly and severally liable was $1,006.7 billion and $1,032.1 billion. The following table summarizes additional off-balance sheet commitments for the Bank (dollars in millions): March 31, 2024 December 31, 2023 Expire Expire Total Total Standby letters of credit 1,2 $ 15,445 $ 133 $ 15,578 $ 9,396 Standby bond purchase agreements 2 48 797 845 852 Commitments to purchase mortgage loans 148 — 148 112 Commitment to issue bonds 3 85 — 85 47 Commitments to issue discount notes 3 1,385 — 1,385 551 Commitments to fund advances 2,4 436 30 466 2,163 1 Excludes commitments to issue standby letters of credit, when applicable. At both March 31, 2024 and December 31, 2023, the Bank had no commitments to issue standby letters of credit. 2 The Bank has deemed it unnecessary to record any liability for credit losses on these agreements at March 31, 2024 and December 31, 2023, based on its credit extension and collateral policies. 3 The Bank enters into commitments to issue consolidated obligations in the normal course of its business, that generally settle within 30 calendar days. 4 The Bank enters into commitments to fund additional advances up to 24 months in the future. Standby Letters of Credit . The Bank issues standby letters of credit on behalf of its members to support certain obligations of the members to third-party beneficiaries. Standby letters of credit may be offered to assist members and non-member housing associates in facilitating residential housing finance, community lending, and asset-liability management, and to provide liquidity. In particular, members often use standby letters of credit as collateral for deposits from federal and state government agencies. Standby letters of credit are executed with members for a fee. If the Bank is required to make payment for a beneficiary’s draw, the member either reimburses the Bank for the amount drawn or, subject to the Bank’s discretion, the amount drawn may be converted into a collateralized advance to the member. The maturities of standby letters of credit outstanding at March 31, 2024 are currently no later than 2038. The carrying value of guarantees related to standby letters of credit are recorded in “Other liabilities” on the Statements of Condition and amounted to $11 million and $4 million at March 31, 2024 and December 31, 2023. The Bank monitors the creditworthiness of its members and non-member housing associates that have standby letters of credit. The Bank has established parameters for the measurement, review, classification, and monitoring of credit risk related to these standby letters of credit. All standby letters of credit, similar to advances, are fully collateralized at the time of issuance and subject to member borrowing limits as established by the Bank. Standby Bond Purchase Agreements . The Bank has entered into standby bond purchase agreements with state housing finance agencies within its district pursuant to which, for a fee, it agrees to serve as a standby liquidity provider if required, to purchase and hold the bonds until the designated marketing agent can find a suitable investor or the state housing finance agency repurchases the bonds according to a schedule established by the agreement. Each standby bond purchase agreement includes the provisions under which the Bank would be required to purchase the bonds and typically allows the Bank to terminate the agreement upon the occurrence of a default event of the issuer. At March 31, 2024, the Bank had standby bond purchase agreements with seven state housing finance agencies. The maturities of standby bond purchase agreements outstanding at March 31, 2024 are currently no later than 2029. During the three months ended March 31, 2024 and 2023, the Bank was not required to purchase any bonds under these agreements. Commitments to Purchase Mortgage Loans . The Bank enters into commitments that unconditionally obligate it to purchase mortgage loans from its members. These commitments are considered derivatives and their estimated fair value at March 31, 2024 and December 31, 2023 is reported in “ Note 6 — Derivatives and Hedging Activities ” as mortgage loan purchase commitments. Other Commitments. For each MPF master commitment, the Bank’s potential loss exposure prior to the PFI’s credit enhancement obligation is estimated and tracked in a FLA. For absorbing certain losses in excess of the FLA, PFIs are paid a credit enhancement fee, a portion of which may be performance-based. To the extent the Bank experiences losses under the FLA, it may be able to recapture performance-based credit enhancement fees paid to the PFI to offset these losses. The FLA balance for all MPF master commitments with a PFI credit enhancement obligation was $182 million and $178 million at March 31, 2024 and December 31, 2023. Legal Proceedings |
Activities with Stockholders
Activities with Stockholders | 3 Months Ended |
Mar. 31, 2024 | |
Related Party Transactions [Abstract] | |
Activities with Stockholders [Text Block] | Activities with Stockholders The Bank is a cooperative. This means the Bank is owned by its customers, whom the Bank calls members. As a condition of membership in the Bank, all members must purchase and maintain membership capital stock based on a percentage of their total assets, subject to a minimum and maximum amount, as of the preceding December 31 st . Each member is also required to purchase and maintain activity-based capital stock to support certain business activities with the Bank. All transactions with stockholders are entered into in the ordinary course of business. Refer to “ Note 8 — Capital ” for more information on our capital stock requirements. TRANSACTIONS WITH DIRECTORS’ FINANCIAL INSTITUTIONS In the normal course of business, the Bank extends credit to its members whose directors and officers serve as Bank directors (Directors’ Financial Institutions). Finance Agency regulations require that transactions with Directors’ Financial Institutions be made on the same terms and conditions as those with any other member. The following table summarizes the Bank’s outstanding transactions with Directors’ Financial Institutions (dollars in millions): March 31, 2024 December 31, 2023 Amount % of Total Amount % of Total Advances $ 807 1 $ 739 1 Mortgage loans 132 1 124 1 Deposits 9 1 8 1 Capital stock 55 1 50 1 BUSINESS CONCENTRATIONS The Bank considers itself to have business concentrations with stockholders owning 10 percent or more of total capital stock outstanding (including MRCS). At March 31, 2024 and December 31, 2023, the Bank had the following business concentrations with stockholders (dollars in millions): March 31, 2024 Capital Stock Mortgage Interest Stockholder Amount % of Total 1 Advances Loans Income 2 Wells Fargo Bank, N.A. 3 $ 1,278 20 $ 28,000 $ 7 $ 520 Superior Guaranty Insurance Company 4 5 — — 131 — Total $ 1,283 20 $ 28,000 $ 138 $ 520 December 31, 2023 Capital Stock Mortgage Interest Stockholder Amount % of Total 1 Advances Loans Income 2 Wells Fargo Bank, N.A. 3 $ 1,676 24 $ 37,000 $ 7 $ 1,687 Superior Guaranty Insurance Company 4 6 — — 137 — Total $ 1,682 24 $ 37,000 $ 144 $ 1,687 1 Pursuant to applicable Finance Agency regulations, the Bank’s voting structure limits the voting rights of these stockholders and other members holding a significant amount of the Bank’s capital stock. 2 Represents interest income earned on advances during the three months ended ended March 31, 2024 and the year ended December 31, 2023. Interest income on mortgage loans is excluded from this table as this interest relates to the borrower, not to the stockholder. 3 Wells Fargo Bank, N.A. had standby letters of credit outstanding totaling $7.6 billion and $0.9 billion as of March 31, 2024 and December 31, 2023. 4 Superior Guaranty Insurance Company is an affiliate of Wells Fargo Bank, N.A. and had no standby letters of credit outstanding as of March 31, 2024 and December 31, 2023. |
Activities with Other FHLBanks
Activities with Other FHLBanks | 3 Months Ended |
Mar. 31, 2024 | |
Activities with Other FHLBanks [Abstract] | |
Activities with Other FHLBanks [Text Block] | Activities with Other FHLBanks Overnight Funds . The Bank may lend or borrow unsecured overnight funds to or from other FHLBanks. All such transactions are at current market rates. The following table summarizes loan activity to other FHLBanks during the three months ended March 31, 2024 and 2023 (dollars in millions): Other FHLBank Beginning Loans Principal Ending 2024 Chicago $ — $ 5 $ (5) $ — 2023 Chicago $ — $ 5 $ (5) $ — San Francisco — 1,005 (1,005) — $ — $ 1,010 $ (1,010) $ — The following table summarizes borrowing activity from other FHLBanks during the three months ended March 31, 2024 and 2023 (dollars in millions): Other FHLBank Beginning Balance Borrowing Principal Payment Ending Balance 2024 Chicago $ — $ 1,000 $ (1,000) $ — Cincinnati — 500 (500) — $ — $ 1,500 $ (1,500) $ — 2023 Cincinnati $ — $ 250 $ — $ 250 |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | The accompanying unaudited financial statements have been prepared in accordance with GAAP for interim financial information. |
New Accounting Pronouncements, Policy | Recently Adopted and Issued Accounting Guidance Segment Reporting (ASU 2023-07) On November 27, 2023, the FASB issued guidance designed to improve segment reporting, primarily by requiring enhanced disclosures about significant segment expenses. This guidance became effective for the Bank for the annual period beginning on January 1, 2024, and for the interim periods beginning on January 1, 2025. The adoption of this guidance is not expected to have any effect on the Bank’s financial condition, results of operations, or cash flows; however, it may increase certain disclosures. Disclosure Improvements in Response to SEC Initiative (ASU 2023-06) On October 9, 2023, the FASB issued guidance amending various disclosure requirements in response to the SEC’s initiative to update and simplify disclosures. This guidance will become effective for the Bank on the date the SEC removes the related disclosure requirements from its existing regulations, to avoid duplication in FASB codification. The adoption of this guidance is not expected to have any effect on the Bank’s financial condition, results of operations, or cash flows; however, it may impact certain disclosures. |
Derivatives, Offsetting Fair Value Amounts, Policy | The Bank presents derivative instruments, related cash collateral received or pledged, and associated accrued interest on a net basis by clearing agent and/or by counterparty when it has met the netting requirements. Additional information regarding these agreements is provided in “Item 8. Financial Statements and Supplementary Data — Note 1 — Summary of Significant Accounting Policies” in the 2023 Form 10-K. |
Advances, Prepayment Fees, Policy | The Bank generally charges a prepayment fee for advances that a borrower elects to terminate prior to the stated maturity or outside of a predetermined call date. The fees charged are priced to make the Bank financially indifferent to the prepayment of the advance. For certain advances with symmetrical prepayment features, 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. Prepayment fees and credits are recorded net of the hedged item fair value hedging adjustments, if applicable, in advance interest income on the Statements of Income. |
Shares Subject to Mandatory Redemption, Changes in Redemption Value, Policy | The Bank reclassifies capital stock subject to redemption from equity to a liability, which represents MRCS, at the time shares meet the definition of a mandatorily redeemable financial instrument. This occurs after a member provides written notice of intention to withdraw from membership, becomes ineligible for continuing membership, or attains non-member status by merger or consolidation, charter termination, or other involuntary termination from membership. Dividends on MRCS are classified as interest expense on the Statements of Income. |
Fair Value of Financial Instruments, Policy | Fair value amounts are determined by the Bank using available market information and reflect the Bank’s best judgment of appropriate valuation methods. 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., exit price). The fair value hierarchy requires an entity to maximize the use of significant observable inputs and minimize the use of significant unobservable inputs when measuring fair value. 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 prioritizes the inputs used to measure fair value into three broad levels: • Level 1 Inputs. Quoted prices (unadjusted) for identical assets or liabilities in an active market that the Bank can access on the measurement date. An active market for an 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. 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: (i) quoted prices for similar assets or liabilities in active markets, (ii) quoted prices for identical or similar assets or liabilities in markets that are not active, (iii) 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 (iv) market-corroborated inputs. • Level 3 Inputs. Unobservable inputs for the asset or liability. Valuations are derived from techniques that use significant assumptions not observable in the market, which may include pricing models, discounted cash flow models, or similar techniques. The Bank reviews its 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. |
Investments (Tables)
Investments (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Investment Debt Securities Table [Line Items] | |
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block] | Trading securities by major security type were as follows (dollars in millions): March 31, 2024 December 31, 2023 Non-mortgage-backed securities U.S. Treasury obligations 1 $ 2,314 $ 2,925 Other U.S. obligations 1 63 68 GSE and Tennessee Valley Authority obligations 48 49 Other 2 107 110 Total fair value $ 2,532 $ 3,152 1 Represents investment securities backed by the full faith and credit of the U.S. Government. 2 Consists of taxable municipal bonds. |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | AFS securities by major security type we re as follows (dollars in millions): March 31, 2024 Amortized 1 Gross Gross Fair Non-mortgage-backed securities Other U.S. obligations 2 $ 263 $ — $ (2) $ 261 GSE and Tennessee Valley Authority obligations 292 25 — 317 State or local housing agency obligations 547 1 (6) 542 Other 3 157 3 — 160 Total non-mortgage-backed securities 1,259 29 (8) 1,280 Mortgage-backed securities U.S. obligations single-family 2 4,691 14 (10) 4,695 GSE single-family 225 — (3) 222 GSE multifamily 18,523 61 (90) 18,494 Total mortgage-backed securities 23,439 75 (103) 23,411 Total $ 24,698 $ 104 $ (111) $ 24,691 December 31, 2023 Amortized 1 Gross Gross Fair Non-mortgage-backed securities Other U.S. obligations 2 $ 331 $ — $ (3) $ 328 GSE and Tennessee Valley Authority obligations 324 20 — 344 State or local housing agency obligations 461 2 (5) 458 Other 3 157 3 — 160 Total non-mortgage-backed securities 1,273 25 (8) 1,290 Mortgage-backed securities U.S. obligations single-family 2 4,421 1 (24) 4,398 GSE single-family 183 — (3) 180 GSE multifamily 18,124 15 (184) 17,955 Total mortgage-backed securities 22,728 16 (211) 22,533 Total $ 24,001 $ 41 $ (219) $ 23,823 1 Amortized cost includes adjustments made to the cost basis of an investment for accretion, amortization, and/or fair value hedge accounting adjustments, and excludes accrued interest receivable of $84 million and $82 million at March 31, 2024 and December 31, 2023. 2 Represents investment securities backed by the full faith and credit of the U.S. Government. |
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value [Table Text Block] | The following tables summarize AFS securities with gross unrealized losses by major security type and length of time that individual securities have been in a continuous unrealized loss position (dollars in millions). In cases where the gross unrealized losses for an investment category are less than $1 million, the losses are not reported. March 31, 2024 Less than 12 Months 12 Months or More Total Fair Gross Unrealized Fair Gross Unrealized Fair Gross Unrealized Non-mortgage-backed securities Other U.S. obligations 1 $ 59 $ (2) $ 30 $ — $ 89 $ (2) State or local housing agency obligations 90 (1) 380 (5) 470 (6) Total non-mortgage-backed securities 149 (3) 410 (5) 559 (8) Mortgage-backed securities U.S. obligations single-family 1 161 (2) 1,534 (8) 1,695 (10) GSE single-family 18 — 108 (3) 126 (3) GSE multifamily 1,655 (5) 7,437 (85) 9,092 (90) Total mortgage-backed securities 1,834 (7) 9,079 (96) 10,913 (103) Total $ 1,983 $ (10) $ 9,489 $ (101) $ 11,472 $ (111) December 31, 2023 Less than 12 Months 12 Months or More Total Fair Gross Unrealized Fair Gross Unrealized Fair Gross Unrealized Non-mortgage-backed securities Other U.S. obligations 1 $ 87 $ (3) $ 42 $ — $ 129 $ (3) State or local housing agency obligations — — 380 (5) 380 (5) Total non-mortgage-backed securities 87 (3) 422 (5) 509 (8) Mortgage-backed securities U.S. obligations single-family 1 1,813 (8) 2,410 (16) 4,223 (24) GSE single-family 25 — 112 (3) 137 (3) GSE multifamily 8,768 (70) 5,722 (114) 14,490 (184) Total mortgage-backed securities 10,606 (78) 8,244 (133) 18,850 (211) Total $ 10,693 $ (81) $ 8,666 $ (138) $ 19,359 $ (219) 1 Represents investment securities backed by the full faith and credit of the U.S. Government. |
Debt Securities, Held-to-maturity [Table Text Block] | HTM securities by major security type wer e as follows (dollars in millions): March 31, 2024 Amortized 1 Gross Gross Fair Non-mortgage-backed securities GSE and Tennessee Valley Authority obligations $ 362 $ 7 $ (3) $ 366 State or local housing agency obligations 31 — — 31 Total non-mortgage-backed securities 393 7 (3) 397 Mortgage-backed securities U.S. obligations single-family 2 2 — — 2 GSE single-family 431 — (9) 422 Private-label 3 — — 3 Total mortgage-backed securities 436 — (9) 427 Total $ 829 $ 7 $ (12) $ 824 December 31, 2023 Amortized 1 Gross Gross Fair Non-mortgage-backed securities GSE and Tennessee Valley Authority obligations $ 364 $ 11 $ (3) $ 372 State or local housing agency obligations 31 — — 31 Total non-mortgage-backed securities 395 11 (3) 403 Mortgage-backed securities U.S. obligations single-family 2 1 — — 1 GSE single-family 453 — (10) 443 Private-label 3 — — 3 Total mortgage-backed securities 457 — (10) 447 Total $ 852 $ 11 $ (13) $ 850 1 Amortized cost includes adjustments made to the cost basis of an investment for accretion or amortization and excludes accrued interest receivable of $10 million and $5 million at March 31, 2024 and December 31, 2023. 2 Represents investment securities backed by the full faith and credit of the U.S. Government. |
Gain (Loss) on Securities | The following table summarizes the components of “Net gains (losses) on trading securities” as presented on the Statements of Income (dollars in millions): For the Three Months Ended March 31, 2024 2023 Net unrealized gains (losses) on trading securities held at period-end $ (20) $ 33 Net gains (losses) on trading securities no longer held at period-end — — Net gains (losses) on trading securities $ (20) $ 33 |
Available-for-sale Securities [Member] | |
Investment Debt Securities Table [Line Items] | |
Investments Classified by Contractual Maturity Date [Table Text Block] | The following table summarizes AFS securities by contractual maturity. Expected maturities of some securities may differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment fees (dollars in millions): March 31, 2024 December 31, 2023 Year of Contractual Maturity Amortized Fair Amortized Fair Non-mortgage-backed securities Due in one year or less $ 163 $ 162 $ 214 $ 212 Due after one year through five years 397 398 417 417 Due after five years through ten years 278 278 243 245 Due after ten years 421 442 399 416 Total non-mortgage-backed securities 1,259 1,280 1,273 1,290 Mortgage-backed securities 23,439 23,411 22,728 22,533 Total $ 24,698 $ 24,691 $ 24,001 $ 23,823 |
Held-to-maturity Securities [Member] | |
Investment Debt Securities Table [Line Items] | |
Investments Classified by Contractual Maturity Date [Table Text Block] | The following table summarizes HTM securities by contractual maturity. Expected maturities of some securities may differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment fees (dollars in millions): March 31, 2024 December 31, 2023 Year of Contractual Maturity Amortized Fair Amortized Fair Non-mortgage-backed securities Due after one year through five years $ 248 $ 246 $ 249 $ 249 Due after five years through ten years 73 74 73 76 Due after ten years 72 77 73 78 Total non-mortgage-backed securities 393 397 395 403 Mortgage-backed securities 436 427 457 447 Total $ 829 $ 824 $ 852 $ 850 |
Advances (Tables)
Advances (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Advances [Abstract] | |
Schedule of Federal Home Loan Bank Advances by Year of Contractual Maturity [Table Text Block] | The following table summarizes the Bank’s advances outstanding by redemption term (dollars in millions): March 31, 2024 December 31, 2023 Redemption Term Amount 1 Weighted Amount 1 Weighted Overdrawn demand deposit accounts $ 6 7.03 % $ 2 7.14 % Due in one year or less 57,478 5.16 $ 52,890 5.34 Due after one year through two years 14,947 4.39 14,866 4.12 Due after two years through three years 12,992 3.90 13,230 3.95 Due after three years through four years 10,336 4.33 8,689 4.35 Due after four years through five years 13,232 5.23 30,189 5.55 Thereafter 3,105 3.53 3,355 3.51 Total par value 112,096 4.80 % 123,221 4.98 % Premiums 3 6 Fair value hedging adjustments (1,123) (697) Total $ 110,976 $ 122,530 1 Excludes accrued interest receivable of $293 million and $392 million at March 31, 2024 and December 31, 2023. The Bank offers advances to members and eligible housing associates that may be prepaid on predetermined dates (call dates) prior to maturity without incurring prepayment fees (callable advances). Other advances may require a prepayment fee or credit that makes the Bank financially indifferent to the prepayment of the advance. At March 31, 2024 and December 31, 2023 , the Bank had callable advances outstanding totaling $23.6 billion and $31.8 billion. The following table summarizes advances by year of redemption term or next call date for callable advances (dollars in millions): Redemption Term March 31, 2024 December 31, 2023 Overdrawn demand deposit accounts $ 6 $ 2 Due in one year or less 71,450 82,983 Due after one year through two years 13,206 12,136 Due after two years through three years 10,438 10,584 Due after three years through four years 7,764 5,980 Due after four years through five years 6,173 8,228 Thereafter 3,059 3,308 Total par value $ 112,096 $ 123,221 |
Mortgage Loans Held for Portf_2
Mortgage Loans Held for Portfolio (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Receivables [Abstract] | |
Financing Receivable Credit Quality Indicators [Table Text Block] | The following tables present the payment status for conventional mortgage loans (dollars in millions): March 31, 2024 Origination Year Prior to 2020 2020 to 2024 Total Past due 30 - 59 days $ 28 $ 24 $ 52 Past due 60 - 89 days 8 6 14 Past due 90 - 179 days 5 6 11 Past due 180 days or more 4 2 6 Total past due mortgage loans 45 38 83 Total current mortgage loans 2,581 7,310 9,891 Total amortized cost of mortgage loans 1 $ 2,626 $ 7,348 $ 9,974 December 31, 2023 Origination Year Prior to 2019 2019 to 2023 Total Past due 30 - 59 days $ 20 $ 30 $ 50 Past due 60 - 89 days 6 6 12 Past due 90 - 179 days 5 7 12 Past due 180 days or more 4 1 5 Total past due mortgage loans 35 44 79 Total current mortgage loans 1,752 7,758 9,510 Total amortized cost of mortgage loans 1 $ 1,787 $ 7,802 $ 9,589 1 Amortized cost represents the unpaid principal balance adjusted for unamortized premiums, discounts, price adjustment fees, basis adjustments, and direct write-downs. Amortized cost excludes accrued interest receivable. |
Financing Receivable, Past Due [Table Text Block] | The following tables present other delinquency statistics for mortgage loans (dollars in millions): March 31, 2024 Amortized Cost Conventional Government-Insured Total In process of foreclosure 1 $ 3 $ 1 $ 4 Serious delinquency rate 2 — % 1 % — % Past due 90 days or more and still accruing interest 3 $ — $ 4 $ 4 Non-accrual mortgage loans 4 $ 44 $ — $ 44 December 31, 2023 Amortized Cost Conventional Government- Insured Total In process of foreclosure 1 $ 2 $ 1 $ 3 Serious delinquency rate 2 — % 1 % — % Past due 90 days or more and still accruing interest 3 $ — $ 5 $ 5 Non-accrual mortgage loans 4 $ 40 $ — $ 40 1 Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu has been reported. 2 Represents mortgage loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of total mortgage loans. Serious delinquency rate on conventional loans was less than one percent at both March 31, 2024 and December 31, 2023. 3 Represents government-insured mortgage loans that are 90 days or more past due. 4 Represents conventional mortgage loans that are 90 days or more past due or for which the collection of interest or principal is doubtful. At March 31, 2024 and December 31, 2023, $25 million and $24 million of conventional mortgage loans on non-accrual status were evaluated individually and did not have a related allowance for credit losses because these loans were either previously charged off to the expected recoverable value and/or the fair value of the underlying collateral was greater than the amortized cost of the loans. |
Mortgage Loans Held for Portfolio | The following table presents information on the Bank’s mortgage loans held for portfolio (dollars in millions): March 31, 2024 December 31, 2023 Fixed rate, long-term 1 single-family mortgage loans $ 9,335 $ 8,939 Fixed rate, medium-term 2 single-family mortgage loans 928 945 Total unpaid principal balance 10,263 9,884 Premiums 117 113 Discounts (11) (11) Basis adjustments from mortgage loan purchase commitments (13) (13) Total mortgage loans held for portfolio 3 10,356 9,973 Allowance for credit losses (5) (6) Total mortgage loans held for portfolio, net $ 10,351 $ 9,967 1 Long-term is defined as an original term of greater than 15 years and up to 30 years. 2 Medium-term is defined as an original term of 15 years or less. 3 Excludes accrued interest receivable of $63 million and $58 million at March 31, 2024 and December 31, 2023. The following table presents the Bank’s mortgage loans held for portfolio by collateral or guarantee type (dollars in millions): March 31, 2024 December 31, 2023 Conventional mortgage loans $ 9,887 $ 9,506 Government-insured mortgage loans 376 378 Total unpaid principal balance $ 10,263 $ 9,884 |
Derivatives and Hedging Activ_2
Derivatives and Hedging Activities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Offsetting Assets [Table Text Block] | The following tables present the fair value of derivative instruments meeting or not meeting the netting requirements and the related collateral received from or pledged to counterparties (dollars in millions): March 31, 2024 Derivative Instruments Meeting Netting Requirements Gross Amount Recognized 1 Gross Amount of Netting Adjustments and Cash Collateral Derivative Instruments Not Meeting Netting Requirements 2 Total Derivative Assets and Total Derivative Liabilities Derivative Assets Uncleared derivatives $ 319 $ (305) $ — $ 14 Cleared derivatives 34 1,203 — 1,237 Total $ 353 $ 898 $ — $ 1,251 Derivative Liabilities Uncleared derivatives $ 89 $ (75) $ — $ 14 Cleared derivatives 6 (6) — — Total $ 95 $ (81) $ — $ 14 December 31, 2023 Derivative Instruments Meeting Netting Requirements Gross Amount Recognized 1 Gross Amount of Netting Adjustments and Cash Collateral Derivative Instruments Not Meeting Netting Requirements 2 Total Derivative Assets and Total Derivative Liabilities Derivative Assets Uncleared derivatives $ 248 $ (245) $ 1 $ 4 Cleared derivatives 43 1,220 — 1,263 Total $ 291 $ 975 $ 1 $ 1,267 Derivative Liabilities Uncleared derivatives $ 95 $ (88) $ — $ 7 Cleared derivatives 6 (6) — — Total $ 101 $ (94) $ — $ 7 1 Represents derivative assets and derivative liabilities prior to netting adjustments and cash collateral, including accrued interest. 2 Represents mortgage loan purchase commitments not subject to enforceable master netting requirements. |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The following table summarizes the Bank’s notional amount and fair value of derivative instruments and total derivative assets and liabilities. Total derivative assets and liabilities include the effect of netting adjustments and cash collateral. For purposes of this disclosure, the derivative values include the fair value of derivatives and the related accrued interest (dollars in millions): March 31, 2024 December 31, 2023 Notional Derivative Derivative Notional Derivative Derivative Derivatives designated as hedging instruments (fair value hedges) Interest rate swaps $ 104,282 $ 351 $ 93 $ 112,954 $ 290 $ 98 Derivatives not designated as hedging instruments (economic hedges) Interest rate swaps 61,973 2 2 53,050 1 2 Forward settlement agreements 150 — — 115 — 1 Mortgage loan purchase commitments 148 — — 112 1 — Total derivatives not designated as hedging instruments 62,271 2 2 53,277 2 3 Total derivatives before netting and collateral adjustments $ 166,553 353 95 $ 166,231 292 101 Netting adjustments and cash collateral 1 898 (81) 975 (94) Total derivative assets and derivative liabilities $ 1,251 $ 14 $ 1,267 $ 7 1 Amounts represent the application of the netting requirements that allow the Bank to net settle positive and negative positions and also cash collateral, including accrued interest, held or placed with the same clearing agent and/or counterparty. At both March 31, 2024 and December 31, 2023, cash collateral, including accrued interest, posted by the Bank was $1.3 billion. At March 31, 2024 and December 31, 2023, the Bank held cash collateral, including accrued interest, from clearing agents or counterparties of $284 million and $197 million. |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | The following tables summarize the net gains (losses) on qualifying and discontinued fair value hedging relationships recorded in net interest income, including the net interest settlements on derivatives, as well as total income (expense) by hedged product recorded on the Statements of Income (dollars in millions): For the Three Months Ended March 31, 2024 Interest Income (Expense) Advances AFS Securities Consolidated Obligation Bonds Total interest income (expense) recorded on the Statements of Income 1 $ 1,698 $ 375 $ (1,429) Gains (losses) on fair value hedging relationships Interest rate contracts Derivatives 2 $ 650 $ 485 $ (152) Hedged items 3 (426) (387) 100 Net gains (losses) on fair value hedging relationships $ 224 $ 98 $ (52) For the Three Months Ended March 31, 2023 Interest Income (Expense) Advances AFS Securities Consolidated Obligation Bonds Total interest income (expense) recorded on the Statements of Income 1 $ 1,394 $ 224 $ (983) Gains (losses) on fair value hedging relationships Interest rate contracts Derivatives 2 $ (122) $ (195) $ 46 Hedged items 3 260 260 (110) Net gains (losses) on fair value hedging relationships $ 138 $ 65 $ (64) 1 Amounts shown to give context to the disclosure and include total interest income (expense) of the products indicated, including coupon, prepayment fees, amortization, and derivative net interest settlements. Interest income (expense) amounts also include gains and losses on derivatives and hedged items in fair value hedging relationships. 2 Includes changes in fair value and net interest settlements on derivatives. 3 Includes changes in fair value and amortization/accretion of basis adjustments on closed hedge relationships. The following table summarizes the components of “Net gains (losses) on derivatives” as presented on the Statements of Income (dollars in millions): For the Three Months Ended March 31, 2024 2023 Derivatives not designated as hedging instruments (economic hedges) Interest rate swaps $ (11) $ 40 Forward settlement agreements — (1) Mortgage loan purchase commitments (1) — Net interest settlements (9) (22) Total net gains (losses) related to derivatives not designated as hedging instruments (21) 17 Price alignment amount 1 — (7) Net gains (losses) on derivatives $ (21) $ 10 1 This amount represents interest on variation margin, which is a component of the derivative fair value for cleared transactions, and reflects the price alignment amount on variation margin for daily settled derivative contracts not designated as hedging instruments. The price alignment amount on variation margin for daily settled derivative contracts designated as hedging instruments are recorded in the same line item as the earnings effect of the hedged item. |
Schedule of Derivative Instruments By Type, Gain (Loss) in Statement of Financial Performance [Table Text Block] | The following tables summarize cumulative fair value hedging adjustments and the related amortized cost of the hedged items (dollars in millions): March 31, 2024 Advances AFS Securities Consolidated Obligation Bonds Amortized cost of hedged asset/ liability 1 $ 49,812 $ 17,113 $ 36,712 Fair value hedging adjustments Changes in fair value for active hedging relationships included in amortized cost $ (1,071) $ (784) $ (120) Basis adjustments for discontinued hedging relationships included in amortized cost (52) (30) (5) Total amount of fair value hedging adjustments $ (1,123) $ (814) $ (125) December 31, 2023 Advances AFS Securities Consolidated Obligation Bonds Amortized cost of hedged asset/ liability 1 $ 43,584 $ 16,749 $ 51,393 Fair value hedging adjustments Changes in fair value for active hedging relationships included in amortized cost $ (645) $ (395) $ (17) Basis adjustments for discontinued hedging relationships included in amortized cost (52) (32) (8) Total amount of fair value hedging adjustments $ (697) $ (427) $ (25) 1 Represents the portion of amortized cost designated as a hedged item in an active or discontinued fair value hedging relationship. Amortized cost includes fair value hedging adjustments. |
Offsetting Assets and Liabilities [Table Text Block] | The following tables present the fair value of derivative instruments meeting or not meeting the netting requirements and the related collateral received from or pledged to counterparties (dollars in millions): March 31, 2024 Derivative Instruments Meeting Netting Requirements Gross Amount Recognized 1 Gross Amount of Netting Adjustments and Cash Collateral Derivative Instruments Not Meeting Netting Requirements 2 Total Derivative Assets and Total Derivative Liabilities Derivative Assets Uncleared derivatives $ 319 $ (305) $ — $ 14 Cleared derivatives 34 1,203 — 1,237 Total $ 353 $ 898 $ — $ 1,251 Derivative Liabilities Uncleared derivatives $ 89 $ (75) $ — $ 14 Cleared derivatives 6 (6) — — Total $ 95 $ (81) $ — $ 14 December 31, 2023 Derivative Instruments Meeting Netting Requirements Gross Amount Recognized 1 Gross Amount of Netting Adjustments and Cash Collateral Derivative Instruments Not Meeting Netting Requirements 2 Total Derivative Assets and Total Derivative Liabilities Derivative Assets Uncleared derivatives $ 248 $ (245) $ 1 $ 4 Cleared derivatives 43 1,220 — 1,263 Total $ 291 $ 975 $ 1 $ 1,267 Derivative Liabilities Uncleared derivatives $ 95 $ (88) $ — $ 7 Cleared derivatives 6 (6) — — Total $ 101 $ (94) $ — $ 7 1 Represents derivative assets and derivative liabilities prior to netting adjustments and cash collateral, including accrued interest. 2 Represents mortgage loan purchase commitments not subject to enforceable master netting requirements. |
Consolidated Obligations (Table
Consolidated Obligations (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Debt Disclosure [Abstract] | |
Schedule of Short-term Debt [Table Text Block] | The following table summarizes the Bank’s discount notes (dollars in millions): March 31, 2024 December 31, 2023 Amount Weighted Amount Weighted Par value $ 64,923 4.96 % $ 55,288 5.15 % Discounts and concessions 1 (1,513) (736) Fair value option adjustments (52) (15) Total $ 63,358 $ 54,537 1 Concessions represent fees paid to dealers in connections with the issuance of certain consolidated obligation discount notes. |
Schedule of Maturities of Long-term Debt [Table Text Block] | The following table summarizes the Bank’s bonds outstanding by contractual maturity (dollars in millions): March 31, 2024 December 31, 2023 Year of Contractual Maturity Amount Weighted Amount Weighted Due in one year or less $ 48,272 4.93 % $ 63,887 5.10 % Due after one year through two years 36,964 5.34 39,323 5.38 Due after two years through three years 4,135 4.03 4,159 4.00 Due after three years through four years 2,155 3.76 1,416 3.28 Due after four years through five years 2,807 4.41 2,507 4.19 Thereafter 6,463 3.47 5,671 3.14 Total par value 100,796 4.91 % 116,963 5.02 % Premiums 43 52 Discounts and concessions 1 (27) (29) Fair value hedging adjustments (125) (25) Total $ 100,687 $ 116,961 1 Concessions represent fees paid to dealers in connections with the issuance of certain consolidated obligation bonds. The following table summarizes the Bank’s bonds outstanding by year of contractual maturity or next call date (dollars in millions): Year of Contractual Maturity or Next Call Date March 31, 2024 December 31, 2023 Due in one year or less $ 62,492 $ 76,142 Due after one year through two years 30,764 33,413 Due after two years through three years 3,690 3,479 Due after three years through four years 1,074 880 Due after four years through five years 1,579 1,819 Thereafter 1,197 1,230 Total par value $ 100,796 $ 116,963 |
Schedule of Long-term Debt by Call Feature [Table Text Block] | The following table summarizes the Bank’s bonds outstanding by call features (dollars in millions): March 31, 2024 December 31, 2023 Non-callable or non-putable $ 70,378 $ 77,731 Callable 30,418 39,232 Total par value $ 100,796 $ 116,963 |
Capital (Tables)
Capital (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Banking Regulation, Total Capital [Abstract] | |
Mandatorily Redeemable Capital Stock [Table Text Block] | The following table summarizes changes in MRCS (dollars in millions): For the Three Months Ended March 31, 2024 2023 Balance, beginning of period $ 12 $ 15 Net payments for repurchases/redemptions of MRCS (2) (1) Balance, end of period $ 10 $ 14 The following table summarizes the Bank’s MRCS by year of contractual redemption (dollars in millions): Year of Contractual Redemption 1 March 31, 2024 December 31, 2023 Due after one year through two years $ 5 $ — Due after two years through three years — 6 Past contractual redemption date due to outstanding activity with the Bank 5 6 Total $ 10 $ 12 1 At the Bank’s election, MRCS may be redeemed prior to the expiration of the five year redemption period that commences on the date of the notice of redemption. |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table summarizes changes in AOCI (dollars in millions): Net unrealized gains (losses) on AFS securities (Note 3) Pension and postretirement benefits Total AOCI Balance, December 31, 2022 $ (114) $ (3) $ (117) Other comprehensive income (loss) before reclassifications Net unrealized gains (losses) on AFS securities (67) — (67) Net actuarial gains (losses) — 1 1 Net current period other comprehensive income (loss) (67) 1 (66) Balance, March 31, 2023 $ (181) $ (2) $ (183) Balance, December 31, 2023 $ (178) $ (2) $ (180) Other comprehensive income (loss) before reclassifications Net unrealized gains (losses) on AFS securities 171 — 171 Net current period other comprehensive income (loss) 171 — 171 Balance, March 31, 2024 $ (7) $ (2) $ (9) |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | The following table shows the Bank’s compliance with the Finance Agency’s regulatory capital requirements (dollars in millions): March 31, 2024 December 31, 2023 Required Actual Required Actual Regulatory capital requirements Risk-based capital $ 1,497 $ 9,728 $ 1,641 $ 10,023 Regulatory capital $ 7,051 $ 9,728 $ 7,376 $ 10,023 Leverage capital $ 8,813 $ 14,592 $ 9,220 $ 15,034 Capital-to-assets ratio 4.00 % 5.52 % 4.00 % 5.44 % Capital stock-to-assets ratio 2.00 % 3.49 % 2.00 % 3.59 % Leverage ratio 5.00 % 8.28 % 5.00 % 8.15 % |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | The following table summarizes the carrying value, fair value, and fair value hierarchy of the Bank’s financial instruments (dollars in millions). The Bank records trading securities, AFS securities, derivative assets, derivative liabilities, financial instruments held under the fair value option, and certain other assets at fair value on a recurring basis, and on occasion certain impaired mortgage loans held for portfolio on a non-recurring basis. The Bank records all other financial assets and liabilities at amortized cost. The fair values do 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 assets and liabilities. March 31, 2024 Fair Value Financial Instruments Carrying Value Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral 1 Total Assets Cash and due from banks $ 32 $ 32 $ — $ — $ — $ 32 Interest-bearing deposits 3,711 — 3,711 — — 3,711 Securities purchased under agreements to resell 12,950 — 12,950 — — 12,950 Federal funds sold 8,305 — 8,305 — — 8,305 Trading securities 2,532 — 2,532 — — 2,532 Available-for-sale securities 24,691 — 24,691 — — 24,691 Held-to-maturity securities 829 — 821 3 — 824 Advances 110,976 — 111,068 — — 111,068 Mortgage loans held for portfolio, net 10,351 — 9,278 31 — 9,309 Accrued interest receivable 506 — 506 — — 506 Derivative assets, net 1,251 — 353 — 898 1,251 Other assets 41 41 — — — 41 Liabilities Deposits (1,109) — (1,109) — — (1,109) Consolidated obligations Discount notes (63,358) — (63,356) — — (63,356) Bonds (100,687) — (99,882) — — (99,882) Total consolidated obligations (164,045) — (163,238) — — (163,238) MRCS (10) (10) — — — (10) Accrued interest payable (967) — (967) — — (967) Derivative liabilities, net (14) — (95) — 81 (14) 1 Amounts represent the application of the netting requirements that allow the Bank to net settle positive and negative positions and also cash collateral and the related accrued interest held or placed with the same clearing agent and/or counterparty. The following table summarizes the carrying value, fair value, and fair value hierarchy of the Bank’s financial instruments (dollars in millions): December 31, 2023 Fair Value Financial Instruments Carrying Value Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral 1 Total Assets Cash and due from banks $ 31 $ 31 $ — $ — $ — $ 31 Interest-bearing deposits 3,481 — 3,481 — — 3,481 Securities purchased under agreements to resell 11,400 — 11,400 — — 11,400 Federal funds sold 7,120 — 7,120 — — 7,120 Trading securities 3,152 — 3,152 — — 3,152 Available-for-sale securities 23,823 — 23,823 — — 23,823 Held-to-maturity securities 852 — 847 3 — 850 Advances 122,530 — 122,512 — — 122,512 Mortgage loans held for portfolio, net 9,967 — 9,051 30 — 9,081 Accrued interest receivable 582 — 582 — — 582 Derivative assets, net 1,267 — 292 — 975 1,267 Other assets 39 39 — — — 39 Liabilities Deposits (1,039) — (1,039) — — (1,039) Consolidated obligations Discount notes (54,537) — (54,534) — — (54,534) Bonds (116,961) — (116,121) — — (116,121) Total consolidated obligations (171,498) — (170,655) — — (170,655) MRCS (12) (12) — — — (12) Accrued interest payable (1,023) — (1,023) — — (1,023) Derivative liabilities, net (7) — (101) — 94 (7) 1 Amounts represent the application of the netting requirements that allow the Bank to net settle positive and negative positions and also cash collateral and the related accrued interest held or placed with the same clearing agent and/or counterparty. |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The following table summarizes, for each hierarchy level, the Bank’s assets and liabilities that are measured at fair value on the Statements of Condition (dollar s in millions): March 31, 2024 Recurring Fair Value Measurements Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral 1 Total Assets Trading securities U.S. Treasury obligations $ — $ 2,314 $ — $ — $ 2,314 Other U.S. obligations — 63 — — 63 GSE and TVA obligations — 48 — — 48 Other non-MBS — 107 — — 107 Total trading securities — 2,532 — — 2,532 Available-for-sale securities Other U.S. obligations — 261 — — 261 GSE and TVA obligations — 317 — — 317 State or local housing agency obligations — 542 — — 542 Other non-MBS — 160 — — 160 U.S. obligations single-family MBS — 4,695 — — 4,695 GSE single-family MBS — 222 — — 222 GSE multifamily MBS — 18,494 — — 18,494 Total available-for-sale securities — 24,691 — — 24,691 Derivative assets, net Interest-rate related — 353 — 898 1,251 Other assets 41 — — — 41 Total recurring assets at fair value $ 41 $ 27,576 $ — $ 898 $ 28,515 Liabilities Discount notes 2 $ — $ (59,599) $ — $ — $ (59,599) Derivative liabilities, net Interest-rate related — (95) — 81 (14) Total recurring liabilities at fair value $ — $ (59,694) $ — $ 81 $ (59,613) 1 Amounts represent the application of the netting requirements that allow the Bank to net settle positive and negative positions and also cash collateral and the related accrued interest held or placed with the same clearing agent and/or counterparty. 2 Represents financial instruments recorded under the fair value option. The following table summarizes, for each hierarchy level, the Bank’s assets and liabilities that are measured at fair value on the Statements of Condition (dollars in millions): December 31, 2023 Recurring Fair Value Measurements Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral 1 Total Assets Trading securities U.S. Treasury obligations $ — $ 2,925 $ — $ — $ 2,925 Other U.S. obligations — 68 — — 68 GSE and TVA obligations — 49 — — 49 Other non-MBS — 110 — — 110 Total trading securities — 3,152 — — 3,152 Available-for-sale securities Other U.S. obligations — 328 — — 328 GSE and TVA obligations — 344 — — 344 State or local housing agency obligations — 458 — — 458 Other non-MBS — 160 — — 160 U.S. obligations single-family MBS — 4,398 — — 4,398 GSE single-family MBS — 180 — — 180 GSE multifamily MBS — 17,955 — — 17,955 Total available-for-sale securities — 23,823 — — 23,823 Derivative assets, net Interest-rate related — 291 — 975 1,266 Mortgage loan purchase commitments — 1 — — 1 Total derivative assets, net — 292 — 975 1,267 Other assets 39 — — — 39 Total recurring assets at fair value $ 39 $ 27,267 $ — $ 975 $ 28,281 Liabilities Discount notes 2 $ — $ (47,442) $ — $ — $ (47,442) Derivative liabilities, net Interest-rate related — (100) — 94 (6) Forward settlement agreements (TBAs) — (1) — — (1) Total derivative liabilities, net — (101) — 94 (7) Total recurring liabilities at fair value $ — $ (47,543) $ — $ 94 $ (47,449) 1 Amounts represent the application of the netting requirements that allow the Bank to net settle positive and negative positions and also cash collateral and the related accrued interest held or placed with the same clearing agent and/or counterparty. 2 Represents financial instruments recorded under the fair value option. |
Fair Value Option, Disclosures | The following tables summarize the difference between the unpaid principal balance and fair value of outstanding instruments for which the fair value option has been elected (dollars in millions): March 31, 2024 Unpaid Principal Balance Fair Value Fair Value Over (Under) Unpaid Principal Discount Notes $ 61,128 $ 59,599 $ (1,529) December 31, 2023 Unpaid Principal Balance Fair Value Fair Value Over (Under) Unpaid Principal Discount Notes $ 48,164 $ 47,442 $ (722) |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Off-Balance Sheet Commitments [Table Text Block] | The following table summarizes additional off-balance sheet commitments for the Bank (dollars in millions): March 31, 2024 December 31, 2023 Expire Expire Total Total Standby letters of credit 1,2 $ 15,445 $ 133 $ 15,578 $ 9,396 Standby bond purchase agreements 2 48 797 845 852 Commitments to purchase mortgage loans 148 — 148 112 Commitment to issue bonds 3 85 — 85 47 Commitments to issue discount notes 3 1,385 — 1,385 551 Commitments to fund advances 2,4 436 30 466 2,163 1 Excludes commitments to issue standby letters of credit, when applicable. At both March 31, 2024 and December 31, 2023, the Bank had no commitments to issue standby letters of credit. 2 The Bank has deemed it unnecessary to record any liability for credit losses on these agreements at March 31, 2024 and December 31, 2023, based on its credit extension and collateral policies. |
Activities with Stockholders (T
Activities with Stockholders (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Related Party Transactions [Abstract] | |
Related Party Transactions by Balance Sheet Grouping [Table Text Block] | The following table summarizes the Bank’s outstanding transactions with Directors’ Financial Institutions (dollars in millions): March 31, 2024 December 31, 2023 Amount % of Total Amount % of Total Advances $ 807 1 $ 739 1 Mortgage loans 132 1 124 1 Deposits 9 1 8 1 Capital stock 55 1 50 1 |
Schedule of Related Party Transactions by Related Party | At March 31, 2024 and December 31, 2023, the Bank had the following business concentrations with stockholders (dollars in millions): March 31, 2024 Capital Stock Mortgage Interest Stockholder Amount % of Total 1 Advances Loans Income 2 Wells Fargo Bank, N.A. 3 $ 1,278 20 $ 28,000 $ 7 $ 520 Superior Guaranty Insurance Company 4 5 — — 131 — Total $ 1,283 20 $ 28,000 $ 138 $ 520 December 31, 2023 Capital Stock Mortgage Interest Stockholder Amount % of Total 1 Advances Loans Income 2 Wells Fargo Bank, N.A. 3 $ 1,676 24 $ 37,000 $ 7 $ 1,687 Superior Guaranty Insurance Company 4 6 — — 137 — Total $ 1,682 24 $ 37,000 $ 144 $ 1,687 1 Pursuant to applicable Finance Agency regulations, the Bank’s voting structure limits the voting rights of these stockholders and other members holding a significant amount of the Bank’s capital stock. 2 Represents interest income earned on advances during the three months ended ended March 31, 2024 and the year ended December 31, 2023. Interest income on mortgage loans is excluded from this table as this interest relates to the borrower, not to the stockholder. 3 Wells Fargo Bank, N.A. had standby letters of credit outstanding totaling $7.6 billion and $0.9 billion as of March 31, 2024 and December 31, 2023. 4 Superior Guaranty Insurance Company is an affiliate of Wells Fargo Bank, N.A. and had no standby letters of credit outstanding as of March 31, 2024 and December 31, 2023. |
Activities with Other FHLBanks
Activities with Other FHLBanks (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Activities with Other FHLBanks [Abstract] | |
Schedule of Loans to Other Federal Home Loan Banks [Table Text Block] | The following table summarizes loan activity to other FHLBanks during the three months ended March 31, 2024 and 2023 (dollars in millions): Other FHLBank Beginning Loans Principal Ending 2024 Chicago $ — $ 5 $ (5) $ — 2023 Chicago $ — $ 5 $ (5) $ — San Francisco — 1,005 (1,005) — $ — $ 1,010 $ (1,010) $ — |
Schedule of Loans From Other Federal Home Loan Banks [Table Text Block] | The following table summarizes borrowing activity from other FHLBanks during the three months ended March 31, 2024 and 2023 (dollars in millions): Other FHLBank Beginning Balance Borrowing Principal Payment Ending Balance 2024 Chicago $ — $ 1,000 $ (1,000) $ — Cincinnati — 500 (500) — $ — $ 1,500 $ (1,500) $ — 2023 Cincinnati $ — $ 250 $ — $ 250 |
Background Information (Details
Background Information (Details) | Mar. 31, 2024 bank |
Background Information [Abstract] | |
Number of Federal Home Loan Banks | 11 |
Investments (Narrative) (Detail
Investments (Narrative) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Available-for-Sale Debt Securities and Held-to-Maturity Debt Securities Excluding Private Label Mortgage Back Securities Amortized Cost, Percentage Rated Single-A Or Above | 100% | 100% |
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss | $ 10 | $ 5 |
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss | 84 | 82 |
Securities Purchased under Agreements to Resell, Allowance for Credit Loss | 0 | 0 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | $ 0 | $ 0 |
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] | Accrued interest receivable | Accrued interest receivable |
Debt Securities, Available-for-Sale, Excluded Accrued Interest from Amortized Cost [true false] | true | true |
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] | Accrued interest receivable | Accrued interest receivable |
Debt Securities, Held-to-Maturity, Excluded Accrued Interest [true false] | true | true |
Financing Receivable, Practical Expedient, Accrued Interest Exclusion [true false] | true | true |
Interest-Bearing Deposits, Securities Purchased Under Agreements to Resell, and Federal Funds Sold, Percentage Rated Below Triple-B | 0% | 0% |
Debt Securities, Available-for-sale, Allowance for Credit Loss | $ 0 | $ 0 |
Interest-Bearing Deposits, Securities Purchased Under Agreements to Resell, and Federal Funds Sold, Percentage Unrated | 28% | 9% |
Interest-Bearing Deposits and Federal Funds Sold [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financial Asset, Amortized Cost, Accrued Interest, after Allowance for Credit Loss | $ 22 | |
Financing Receivable, Allowance for Credit Loss | 0 | $ 0 |
Securities Borrowed or Purchased under Agreements to Resell [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financial Asset, Amortized Cost, Accrued Interest, after Allowance for Credit Loss | $ 8 | $ 5 |
Interest-bearing Deposits | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financial Asset, Amortized Cost, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] | Accrued interest receivable | Accrued interest receivable |
Repurchase Agreements | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financial Asset, Amortized Cost, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] | Accrued interest receivable | Accrued interest receivable |
Investments (Trading Major Secu
Investments (Trading Major Security Types) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Debt and Equity Securities, FV-NI [Line Items] | ||
Trading securities | $ 2,532 | $ 3,152 |
US Treasury Securities [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Trading securities | 2,314 | 2,925 |
U.S. obligations [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Trading securities | 63 | 68 |
GSE obligations [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Trading securities | 48 | 49 |
Other [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Trading securities | $ 107 | $ 110 |
Investments (AFS Major Security
Investments (AFS Major Security Types) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $ 104 | $ 41 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (111) | (219) |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, after Allowance for Credit Loss | 24,698 | 24,001 |
Debt Securities, Available-for-Sale, Excluding Accrued Interest | 24,691 | 23,823 |
US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (2) | (3) |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, after Allowance for Credit Loss | 263 | 331 |
Debt Securities, Available-for-Sale, Excluding Accrued Interest | 261 | 328 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 25 | 20 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, after Allowance for Credit Loss | 292 | 324 |
Debt Securities, Available-for-Sale, Excluding Accrued Interest | 317 | 344 |
State or local housing agency obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1 | 2 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (6) | (5) |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, after Allowance for Credit Loss | 547 | 461 |
Debt Securities, Available-for-Sale, Excluding Accrued Interest | 542 | 458 |
Other Debt Obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 3 | 3 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, after Allowance for Credit Loss | 157 | 157 |
Debt Securities, Available-for-Sale, Excluding Accrued Interest | 160 | 160 |
Non-mortgage-backed securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 29 | 25 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (8) | (8) |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, after Allowance for Credit Loss | 1,259 | 1,273 |
Debt Securities, Available-for-Sale, Excluding Accrued Interest | 1,280 | 1,290 |
Mortgage-backed securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 75 | 16 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (103) | (211) |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, after Allowance for Credit Loss | 23,439 | 22,728 |
Debt Securities, Available-for-Sale, Excluding Accrued Interest | 23,411 | 22,533 |
Single Family [Member] | U.S. obligations MBS [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 14 | 1 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (10) | (24) |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, after Allowance for Credit Loss | 4,691 | 4,421 |
Debt Securities, Available-for-Sale, Excluding Accrued Interest | 4,695 | 4,398 |
Single Family [Member] | Mortgage-backed securities, GSE [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (3) | (3) |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, after Allowance for Credit Loss | 225 | 183 |
Debt Securities, Available-for-Sale, Excluding Accrued Interest | 222 | 180 |
Multifamily [Member] | Mortgage-backed securities, GSE [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 61 | 15 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (90) | (184) |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, after Allowance for Credit Loss | 18,523 | 18,124 |
Debt Securities, Available-for-Sale, Excluding Accrued Interest | $ 18,494 | $ 17,955 |
Investments (AFS Unrealized Los
Investments (AFS Unrealized Losses) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (10) | $ (81) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 9,489 | 8,666 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 11,472 | 19,359 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (111) | (219) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1,983 | 10,693 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (101) | (138) |
US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (2) | (3) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 30 | 42 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 89 | 129 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (2) | (3) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 59 | 87 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
State or local housing agency obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1) | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 380 | 380 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 470 | 380 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (6) | (5) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 90 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (5) | (5) |
Non-mortgage-backed securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (3) | (3) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 410 | 422 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 559 | 509 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (8) | (8) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 149 | 87 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (5) | (5) |
Mortgage-backed securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (7) | (78) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 9,079 | 8,244 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 10,913 | 18,850 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (103) | (211) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1,834 | 10,606 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (96) | (133) |
Single Family [Member] | U.S. obligations MBS [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (2) | (8) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,534 | 2,410 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,695 | 4,223 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (10) | (24) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 161 | 1,813 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (8) | (16) |
Single Family [Member] | Mortgage-backed securities, GSE [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 108 | 112 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 126 | 137 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (3) | (3) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 18 | 25 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (3) | (3) |
Multifamily [Member] | Mortgage-backed securities, GSE [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (5) | (70) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 7,437 | 5,722 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 9,092 | 14,490 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (90) | (184) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1,655 | 8,768 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (85) | $ (114) |
Investments (AFS Contractual Ma
Investments (AFS Contractual Maturity) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-Sale, Excluding Accrued Interest | $ 24,691 | $ 23,823 |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, before Allowance for Credit Loss | 24,698 | 24,001 |
Non-mortgage-backed securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Amortized Cost | 421 | 399 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Amortized Cost | 278 | 243 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Amortized Cost | 163 | 214 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 162 | 212 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Amortized Cost | 397 | 417 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 398 | 417 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 278 | 245 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value | 442 | 416 |
Debt Securities, Available-for-Sale, Excluding Accrued Interest | 1,280 | 1,290 |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, before Allowance for Credit Loss | 1,259 | 1,273 |
Mortgage-backed securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale | 23,411 | 22,533 |
Debt Securities, Available-for-sale, Amortized Cost | 23,439 | 22,728 |
Debt Securities, Available-for-Sale, Excluding Accrued Interest | $ 23,411 | $ 22,533 |
Investments (HTM Major Security
Investments (HTM Major Security Types) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | $ 7 | $ 11 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (12) | (13) |
Held-to-Maturity Securities, Fair Value | 824 | 850 |
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss | 829 | 852 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 7 | 11 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (3) | (3) |
Held-to-Maturity Securities, Fair Value | 366 | 372 |
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss | 362 | 364 |
State or local housing agency obligations [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | 0 |
Held-to-Maturity Securities, Fair Value | 31 | 31 |
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss | 31 | 31 |
Non-mortgage-backed securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 7 | 11 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (3) | (3) |
Held-to-Maturity Securities, Fair Value | 397 | 403 |
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss | 393 | 395 |
Mortgage-backed securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (9) | (10) |
Held-to-Maturity Securities, Fair Value | 427 | 447 |
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss | 436 | 457 |
Single Family [Member] | U.S. obligations MBS [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | 0 |
Held-to-Maturity Securities, Fair Value | 2 | 1 |
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss | 2 | 1 |
Single Family [Member] | Mortgage-backed securities, GSE [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (9) | (10) |
Held-to-Maturity Securities, Fair Value | 422 | 443 |
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss | 431 | 453 |
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | 0 |
Held-to-Maturity Securities, Fair Value | 3 | 3 |
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss | $ 3 | $ 3 |
Investments (HTM Contractual Ma
Investments (HTM Contractual Maturity) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 829 | $ 852 |
Held-to-Maturity Securities, Fair Value | 824 | 850 |
Non-mortgage-backed securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Amortized Cost | 73 | 73 |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 74 | 76 |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Amortized Cost | 72 | 73 |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value | 77 | 78 |
Amortized Cost | 393 | 395 |
Held-to-Maturity Securities, Fair Value | 397 | 403 |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Amortized Cost | 248 | 249 |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 246 | 249 |
Mortgage-backed securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 436 | 457 |
Held-to-Maturity Securities, Fair Value | $ 427 | $ 447 |
Investments (Net Gains Losses o
Investments (Net Gains Losses on Trading Securities) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Investments, Debt and Equity Securities [Abstract] | ||
Debt Securities, Trading, Unrealized Gain | $ (20) | $ 33 |
Debt Securities, Trading, Realized Gain (Loss) | 0 | 0 |
Net gains (losses) on trading securities | $ (20) | $ 33 |
Advances (Narrative) (Details)
Advances (Narrative) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Federal Home Loan Bank, Advances [Line Items] | ||
Advances | $ 110,976 | $ 122,530 |
Federal Home Loan Bank, Advances, Par Value | 112,096 | 123,221 |
Wells Fargo Bank N.A. | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Advances | $ 28,000 | $ 37,000 |
Advance Percent | 25% | 30% |
Federal Home Loan Bank, Advances, Callable Option [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 23,600 | $ 31,800 |
Federal Home Loan Bank Advances [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Financing Receivable, Accrued Interest, after Allowance for Credit Loss | 293 | 392 |
Financing Receivable, Nonaccrual | 0 | 0 |
Financing Receivable, Troubled Debt Restructuring | 0 | 0 |
Impaired Financing Receivable, Unpaid Principal Balance | 0 | 0 |
Financing Receivable, Allowance for Credit Loss | $ 0 | $ 0 |
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] | Accrued interest receivable | Accrued interest receivable |
Financing Receivable, Allowance for Credit Loss, Noncurrent | $ 0 | $ 0 |
Advances (Redemption Terms) (De
Advances (Redemption Terms) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Advances [Abstract] | ||
Overdrawn demand deposit accounts | $ 6 | $ 2 |
Weighted Average Interest Rate on Overdrawn Demand Deposit | 7.03% | 7.14% |
Due in one year or less | $ 57,478 | $ 52,890 |
Federal Home Loan Bank, Advances, Weighted Average Interest Rate, Maturing in Next Twelve Rolling Months | 5.16% | 5.34% |
Due after one year through two years | $ 14,947 | $ 14,866 |
Federal Home Loan Bank Advances, Weighted Average Interest Rate, Maturing in Rolling Year Two | 4.39% | 4.12% |
Due after two years through three years | $ 12,992 | $ 13,230 |
Federal Home Loan Bank Advances, Weighted Average Interest Rate, Maturing in Rolling Year Three | 3.90% | 3.95% |
Due after three years through four years | $ 10,336 | $ 8,689 |
Federal Home Loan Bank, Advances, Weighted Average Interest Rate, Maturing in Rolling Year Four | 4.33% | 4.35% |
Due after four years through five years | $ 13,232 | $ 30,189 |
Federal Home Loan Bank, Advances, Weighted Average Interest Rate, Maturing in Rolling Year Five | 5.23% | 5.55% |
Thereafter | $ 3,105 | $ 3,355 |
Federal Home Loan Bank, Advances, Weighted Average Interest Rate, Maturing after Rolling Year Five | 3.53% | 3.51% |
Federal Home Loan Bank, Advances, Par Value | $ 112,096 | $ 123,221 |
Federal Home Loan Bank, Advances, Weighted Average Interest Rate | 4.80% | 4.98% |
Premiums | $ 3 | $ 6 |
Fair value hedging adjustments | (1,123) | (697) |
Total | 110,976 | 122,530 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Call Date, in Next Rolling Twelve Months | 71,450 | 82,983 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Call Date, in Rolling Year Two | 13,206 | 12,136 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Call Date, in Rolling Year Three | 10,438 | 10,584 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Call Date, in Rolling Year Four | 7,764 | 5,980 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Call Date, in Rolling Year Five | 6,173 | 8,228 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Call Date, after Rolling Year Five | $ 3,059 | $ 3,308 |
Mortgage Loans Held for Portf_3
Mortgage Loans Held for Portfolio (Mortgage Loans Held for Portfolio) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans And Leases Receivable, Unpaid Principal Balance | $ 10,263 | $ 9,884 |
Residential Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans And Leases Receivable, Unpaid Principal Balance | 10,263 | 9,884 |
Loans and Leases Receivable, Unamortized Premiums | 117 | 113 |
Loans and Leases Receivable, Unamortized Discounts | (11) | (11) |
Loans and Leases Receivable, Hedging Basis Adjustment | (13) | (13) |
Financing Receivable, Allowance for Credit Loss, Noncurrent | 10,356 | 9,973 |
Loans and Leases Receivable, Net Amount | 10,351 | 9,967 |
Loans and Leases Receivable, Allowance | (5) | (6) |
Single Family [Member] | Fixed rate, long-term single family mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans And Leases Receivable, Unpaid Principal Balance | 9,335 | 8,939 |
Single Family [Member] | Fixed rate, medium-term single family mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans And Leases Receivable, Unpaid Principal Balance | $ 928 | $ 945 |
Mortgage Loans Held for Portf_4
Mortgage Loans Held for Portfolio (Mortgage Loans Held for Portfolio by Collateral or Guarantee Type) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, before Fees, Gross | $ 10,263 | $ 9,884 |
US Government Agency Insured Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, before Fees, Gross | 376 | 378 |
Conventional Mortgage Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, before Fees, Gross | $ 9,887 | $ 9,506 |
Mortgage Loans Held for Portf_5
Mortgage Loans Held for Portfolio (Narrative) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Residential Portfolio Segment | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Accrued Interest, after Allowance for Credit Loss | $ 63 | $ 58 |
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest | $ 5 | $ 6 |
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] | Accrued interest receivable | Accrued interest receivable |
US Government Agency Insured Loans [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest | $ 0 | $ 0 |
Conventional Mortgage Loan [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | $ 25 | $ 24 |
Mortgage Loans Held for Portf_6
Mortgage Loans Held for Portfolio (Payment Status) (Details) - Conventional Mortgage Loan [Member] - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Allowance for Credit Loss, Noncurrent | $ 9,974 | $ 9,589 |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 2,626 | 1,787 |
Financing Receivable Excluding Accrued Interest Originated Current Fiscal Year and Preceding Four Fiscal Years | 7,348 | 7,802 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Allowance for Credit Loss, Noncurrent | 52 | 50 |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 28 | 20 |
Financing Receivable Excluding Accrued Interest Originated Current Fiscal Year and Preceding Four Fiscal Years | 24 | 30 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Allowance for Credit Loss, Noncurrent | 14 | 12 |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 8 | 6 |
Financing Receivable Excluding Accrued Interest Originated Current Fiscal Year and Preceding Four Fiscal Years | 6 | 6 |
Financing Receivables, 90 to 179 Days Past Due [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Allowance for Credit Loss, Noncurrent | 11 | 12 |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 5 | 5 |
Financing Receivable Excluding Accrued Interest Originated Current Fiscal Year and Preceding Four Fiscal Years | 6 | 7 |
Financing Receivables, Greater than 180 Days Past Due [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Allowance for Credit Loss, Noncurrent | 6 | 5 |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 4 | 4 |
Financing Receivable Excluding Accrued Interest Originated Current Fiscal Year and Preceding Four Fiscal Years | 2 | 1 |
Financial Asset, Past Due | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Allowance for Credit Loss, Noncurrent | 83 | 79 |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 45 | 35 |
Financing Receivable Excluding Accrued Interest Originated Current Fiscal Year and Preceding Four Fiscal Years | 38 | 44 |
Financial Asset, Not Past Due | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Allowance for Credit Loss, Noncurrent | 9,891 | 9,510 |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 2,581 | 1,752 |
Financing Receivable Excluding Accrued Interest Originated Current Fiscal Year and Preceding Four Fiscal Years | $ 7,310 | $ 7,758 |
Mortgage Loans Held for Portf_7
Mortgage Loans Held for Portfolio (Other Delinquency Statistics) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 4 | $ 3 |
Residential Portfolio Segment | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 4 | 5 |
Financing Receivable, Nonaccrual | $ 44 | $ 40 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Percent Past Due | 0% | 0% |
US Government Agency Insured Loans [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 1 | $ 1 |
US Government Agency Insured Loans [Member] | Residential Portfolio Segment | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 4 | 5 |
Financing Receivable, Nonaccrual | $ 0 | $ 0 |
US Government Agency Insured Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Percent Past Due | 1% | 1% |
Conventional Mortgage Loan [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 3 | $ 2 |
Conventional Mortgage Loan [Member] | Residential Portfolio Segment | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 0 | 0 |
Financing Receivable, Nonaccrual | $ 44 | $ 40 |
Conventional Mortgage Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Percent Past Due | 0% | 0% |
Derivatives and Hedging Activ_3
Derivatives and Hedging Activities (Derivatives in Statement of Condition) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | $ 166,553 | $ 166,231 |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 353 | 292 |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 95 | 101 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 898 | 975 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | (81) | (94) |
Derivative assets, net | 1,251 | 1,267 |
Derivative liabilities, net | 14 | 7 |
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 1,300 | |
Derivative Asset, Collateral, Obligation to Return Cash, Offset | 284 | 197 |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 104,282 | 112,954 |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 351 | 290 |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 93 | 98 |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 62,271 | 53,277 |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 2 | 2 |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 2 | 3 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 61,973 | 53,050 |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 2 | 1 |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 2 | 2 |
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 150 | 115 |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 0 | 1 |
Mortgages [Member] | Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 148 | 112 |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 0 | 1 |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | $ 0 | $ 0 |
Derivatives and Hedging Activ_4
Derivatives and Hedging Activities (Derivatives in Statement of Income) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ (21) | $ 10 |
Price Alignment Amount | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 0 | (7) |
Derivatives Not Designated as Hedging Before Price Alignment | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (21) | 17 |
Gain (Loss) on Derivative Instruments [Member] | Interest Rate Swap [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (11) | 40 |
Gain (Loss) on Derivative Instruments [Member] | Net Interest Settlements [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (9) | (22) |
Gain (Loss) on Derivative Instruments [Member] | Collateralized Mortgage Backed Securities [Member] | Forward Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 0 | (1) |
Mortgage Receivable [Member] | Gain (Loss) on Derivative Instruments [Member] | Forward Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ (1) | $ 0 |
Derivatives and Hedging Activ_5
Derivatives and Hedging Activities (Offsetting of Derivative Assets and Derivative Liabilities) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Offsetting Assets and Liabilities [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | $ 353 | $ 291 |
Derivative Liability, Fair Value, Gross Liability | 95 | 101 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 898 | 975 |
Derivative Asset, Not Subject to Master Netting Arrangement | 0 | 1 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | (81) | (94) |
Derivative Liability, Not Subject to Master Netting Arrangement | 0 | 0 |
Derivative assets, net | 1,251 | 1,267 |
Derivative liabilities, net | 14 | 7 |
Over the Counter [Member] | ||
Offsetting Assets and Liabilities [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 319 | 248 |
Derivative Liability, Fair Value, Gross Liability | 89 | 95 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (305) | (245) |
Derivative Asset, Not Subject to Master Netting Arrangement | 0 | 1 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | (75) | (88) |
Derivative Liability, Not Subject to Master Netting Arrangement | 0 | 0 |
Derivative assets, net | 14 | 4 |
Derivative liabilities, net | 14 | 7 |
Exchange Cleared [Member] | ||
Offsetting Assets and Liabilities [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 34 | 43 |
Derivative Liability, Fair Value, Gross Liability | 6 | 6 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 1,203 | 1,220 |
Derivative Asset, Not Subject to Master Netting Arrangement | 0 | 0 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | (6) | (6) |
Derivative Liability, Not Subject to Master Netting Arrangement | 0 | 0 |
Derivative assets, net | 1,237 | 1,263 |
Derivative liabilities, net | $ 0 | $ 0 |
Derivatives and Hedging Activ_6
Derivatives and Hedging Activities Net Gains (Losses) on Fair Value Hedging Relationships (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Advances | $ 1,698 | $ 1,394 |
Available-for-sale securities | 375 | 224 |
Consolidated obligations - Bonds | (1,429) | (983) |
Interest Rate Contract [Member] | Interest Expense [Member] | Consolidated Obligation Bonds [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gains (Losses) on Derivatives | (152) | 46 |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | 100 | (110) |
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income | (52) | (64) |
Interest Rate Contract [Member] | Interest Income [Member] | Advances [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gains (Losses) on Derivatives | 650 | (122) |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | (426) | 260 |
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income | 224 | 138 |
Interest Rate Contract [Member] | Interest Income [Member] | Available-for-sale Securities [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gains (Losses) on Derivatives | 485 | (195) |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | (387) | 260 |
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income | $ 98 | $ 65 |
Derivatives and Hedging Activ_7
Derivatives and Hedging Activities Cumulative Basis Adjustments for Fair Value Hedges (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Advances [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Hedged Asset, Fair Value Hedge | $ 49,812 | $ 43,584 |
Hedged Asset, Active Fair Value Hedge, Cumulative Increase (Decrease) | (1,071) | (645) |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | (52) | (52) |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | (1,123) | (697) |
Available-for-sale Securities [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Hedged Asset, Fair Value Hedge | 17,113 | 16,749 |
Hedged Asset, Active Fair Value Hedge, Cumulative Increase (Decrease) | (784) | (395) |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | (30) | (32) |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | (814) | (427) |
Consolidated Obligation Bonds [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Hedged Liability, Fair Value Hedge | 36,712 | 51,393 |
Hedged Liability, Active Fair Value Hedge, Cumulative Increase (Decrease) | (120) | (17) |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | (125) | (25) |
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | $ (5) | $ (8) |
Consolidated Obligations Narrat
Consolidated Obligations Narrative (Details) - USD ($) $ in Billions | Mar. 31, 2024 | Dec. 31, 2023 |
Schedule of Short-term and Long-term Debt [Line Items] | ||
Obligation with Joint and Several Liability Arrangement, Amount Outstanding | $ 1,006.7 | $ 1,032.1 |
FHLBanks [Member] | ||
Schedule of Short-term and Long-term Debt [Line Items] | ||
Obligation with Joint and Several Liability Arrangement, Amount Outstanding | $ 1,172.4 | $ 1,204.3 |
Consolidated Obligations Discou
Consolidated Obligations Discount Notes (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Short-term Debt [Line Items] | ||
Total | $ 63,358 | $ 54,537 |
Short-term Debt [Member] | ||
Short-term Debt [Line Items] | ||
Par value | $ 64,923 | $ 55,288 |
Par Value, Weighted Average Interest Rate | 4.96% | 5.15% |
Discounts and concessions | $ (1,513) | $ (736) |
Fair Value, Option, Aggregate Differences, Consolidated Obligation Discount Notes | (52) | (15) |
Consolidated Obligation Discount Notes [Member] | ||
Short-term Debt [Line Items] | ||
Fair Value, Option, Aggregate Differences, Consolidated Obligation Discount Notes | $ (1,529) | $ (722) |
Consolidated Obligations Bonds
Consolidated Obligations Bonds (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Debt Instrument [Line Items] | ||
Total par value | $ 100,796 | $ 116,963 |
Federal Home Loan Bank, Consolidated Obligations, Bonds | 100,687 | 116,961 |
Consolidated Obligation Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Total par value | 100,796 | 116,963 |
Federal Home Loan Bank, Consolidated Obligations, Bonds | 100,687 | 116,961 |
Due in one year or less | $ 48,272 | $ 63,887 |
Due in one year or less, Weighted Average Interest Rate | 4.93% | 5.10% |
Due after one year through two years, Weighted Average Interest Rate | 5.34% | 5.38% |
Due after one year through two years | $ 36,964 | $ 39,323 |
Due after two years through three years | $ 4,135 | $ 4,159 |
Due after two years through three years, Weighted Average Interest Rate | 4.03% | 4% |
Due after three years through four years | $ 2,155 | $ 1,416 |
Due after three years through four years, Weighted Average Interest Rate | 3.76% | 3.28% |
Due after four years through five years | $ 2,807 | $ 2,507 |
Due after four years through five years, Weighted Average Interest Rate | 4.41% | 4.19% |
Thereafter | $ 6,463 | $ 5,671 |
Thereafter, Weighted Average Interest Rate | 3.47% | 3.14% |
Total par value, Weighted Average Interest Rate | 4.91% | 5.02% |
Premiums | $ 43 | $ 52 |
Discounts and concessions | (27) | (29) |
Fair value hedging adjustments | (125) | (25) |
Consolidated Obligation Bonds [Member] | Earlier of Contractual Maturity or Next Call Date [Member] | ||
Debt Instrument [Line Items] | ||
Due in one year or less | 62,492 | 76,142 |
Due after one year through two years | 30,764 | 33,413 |
Due after two years through three years | 3,690 | 3,479 |
Due after three years through four years | 1,074 | 880 |
Due after four years through five years | 1,579 | 1,819 |
Thereafter | $ 1,197 | $ 1,230 |
Consolidated Obligations Bond_2
Consolidated Obligations Bonds by Call Features (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Debt Instrument [Line Items] | ||
Total par value | $ 100,796 | $ 116,963 |
Consolidated Obligation Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Total par value | 100,796 | 116,963 |
Noncallable or Nonputable [Member] | Consolidated Obligation Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Total par value | 70,378 | 77,731 |
Callable [Member] | Consolidated Obligation Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Total par value | $ 30,418 | $ 39,232 |
Capital Narrative (Details)
Capital Narrative (Details) | 3 Months Ended | |
Mar. 31, 2024 USD ($) $ / shares | Dec. 31, 2023 USD ($) | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 100 | |
Number of Subclasses of Capital Stock | 2 | |
Redemption Period Under FHLBank Capital Plan | 5 years | |
Written Notice Period Required to Repurchase Excess Membership Capital Stock | 15 days | |
Minimum Capital Stock Required to be Held by Members as a Percent of Total Assets at Preceeding Fiscal Year End, Subject to Cap and Floor | 0.06% | |
Activity Based Capital Stock Required by Members as a Percent of Total Advances and Mortgage Loans Oustanding as Disclosed in the Statement of Condition | 4.50% | |
Percentage of Activity Based Capital Stock Required by Members as a Percent of Total Standby Letters of Credit | 0.10% | |
Banking Regulation, Total Risk-Based Capital, Excess, Actual | $ 0 | $ 0 |
Percent of Average Balance of Outstanding Consolidated Obligations Prescribed per the Joint Capital Enhancement Agreement For Each Previous Quarter | 1% | |
Maximum [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Federal Home Loan Banks, Membership Requirements, Capital Stock | $ 10,000,000 | |
Minimum [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Federal Home Loan Banks, Membership Requirements, Capital Stock | $ 10,000 |
Capital (Rollforward of MRCS) (
Capital (Rollforward of MRCS) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
MRCS [Abstract] | ||
Beginning Balance | $ 12 | $ 15 |
Ending Balance | 10 | 14 |
Net Payments for Repurchases of Mandatory Redeemable Capital Stock | $ (2) | $ (1) |
Capital (Mandatorily Redeemable
Capital (Mandatorily Redeemable Capital Stock) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
MRCS [Abstract] | ||||
Financial Instrument Subject to Mandatory Redemption, Maturity, Year Three | $ 0 | $ 6 | ||
Financial Instruments Subject to Mandatory Redemption, Past Contractual Redemption Date, Due to Outstanding Activity | 5 | 6 | ||
Mandatorily redeemable capital stock | 10 | 12 | $ 14 | $ 15 |
Financial Instrument Subject to Mandatory Redemption, Maturity, Year Two | $ 5 | $ 0 |
Capital (Accumulated Other Comp
Capital (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | $ 9,831 | $ 8,751 |
Other comprehensive income (loss) before reclassifications, Net unrealized losses | 171 | (67) |
Total other comprehensive income (loss) | 171 | (66) |
Ending Balance | 9,709 | 9,122 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | (178) | (114) |
Other comprehensive income (loss) before reclassifications, Net unrealized losses | 171 | (67) |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax | 0 | |
Total other comprehensive income (loss) | 171 | (67) |
Ending Balance | (7) | (181) |
Accumulated Defined Benefit Plans Adjustment [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | (2) | (3) |
Other comprehensive income (loss) before reclassifications, Net unrealized losses | 0 | 0 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax | 1 | |
Total other comprehensive income (loss) | 0 | 1 |
Ending Balance | (2) | (2) |
Accumulated Other Comprehensive Income [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | (180) | (117) |
Other comprehensive income (loss) before reclassifications, Net unrealized losses | 171 | (67) |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax | 1 | |
Total other comprehensive income (loss) | 171 | (66) |
Ending Balance | $ (9) | $ (183) |
Capital (Regulatory Capital Req
Capital (Regulatory Capital Requirements) (Details) $ in Millions | Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) |
Banking Regulation, Total Capital [Abstract] | ||
Number of Finance Agency Regulatory Capital Requirements | 3 | |
Federal Home Loan Bank, Risk-Based Capital, Required | $ 1,497 | $ 1,641 |
Federal Home Loan Bank, Risk-Based Capital, Actual | 9,728 | 10,023 |
Federal Home Loan Bank, Regulatory Capital, Required | 7,051 | 7,376 |
Federal Home Loan Bank, Regulatory Capital, Actual | 9,728 | 10,023 |
Federal Home Loan Bank, Leverage Capital, Required | 8,813 | 9,220 |
Federal Home Loan Bank, Leverage Capital, Actual | $ 14,592 | $ 15,034 |
Regulatory Capital Ratio, Required | 4% | 4% |
Federal Home Loan Bank, Regulatory Capital Ratio, Actual | 5.52% | 5.44% |
Federal Home Loan Bank, Capital Stock to Assets, Required | 2% | 2% |
Federal Home Loan Bank, Capital Stock to Assets, Actual | 3.49% | 3.59% |
Leverage Ratio, Required | 5% | 5% |
Federal Home Loan Bank, Leverage Ratio, Actual | 8.28% | 8.15% |
Weight Applied to Permanent Capital in Computing Leverage Ratio | 1.5 | |
Weight Applied to Nonpermanent Capital in Computing Leverage Ratio | 1 |
Capital Retained Earnings (Deta
Capital Retained Earnings (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | |
Banking Regulation, Total Capital [Abstract] | ||
Quarterly Net Income Allocated to Restricted Retained Earnings | 20% | |
Percent of Average Balance of Outstanding Consolidated Obligations Prescribed per the Joint Capital Enhancement Agreement For Each Previous Quarter | 1% | |
Retained Earnings, Appropriated | $ 951 | $ 896 |
Fair Value (Carrying Value and
Fair Value (Carrying Value and Fair Value of Financial Instruments) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Fair Value [Member] | ||||
Assets | ||||
Cash and due from banks | $ 32 | $ 31 | ||
Interest-bearing deposits | 3,711 | 3,481 | ||
Securities purchased under agreements to resell | 12,950 | 11,400 | ||
Federal funds sold | 8,305 | 7,120 | ||
Trading securities | 2,532 | 3,152 | ||
Debt Securities, Available-for-sale | 24,691 | 23,823 | ||
Held-to-Maturity Securities, Fair Value | 824 | 850 | ||
Advances | 111,068 | 122,512 | ||
Mortgage loans held for portfolio, net | 9,309 | 9,081 | ||
Accrued interest receivable | 506 | 582 | ||
Derivative assets, net | 1,251 | 1,267 | ||
Other assets | 41 | 39 | ||
Liabilities | ||||
Deposits | (1,109) | (1,039) | ||
Federal Home Loan Bank, Consolidated Obligations Fair Value Disclosure | (163,238) | (170,655) | ||
Mandatorily redeemable capital stock | (10) | (12) | ||
Accrued interest payable | (967) | (1,023) | ||
Derivative liabilities, net | (14) | (7) | ||
Reported Value Measurement [Member] | ||||
Assets | ||||
Cash and due from banks | 32 | 31 | ||
Interest-bearing deposits | 3,711 | 3,481 | ||
Securities purchased under agreements to resell | 12,950 | 11,400 | ||
Federal funds sold | 8,305 | 7,120 | ||
Trading securities | 2,532 | 3,152 | ||
Debt Securities, Available-for-sale | 24,691 | 23,823 | ||
Held-to-maturity securities | 829 | 852 | ||
Advances | 110,976 | 122,530 | ||
Mortgage loans held for portfolio, net | 10,351 | 9,967 | ||
Accrued interest receivable | 506 | 582 | ||
Derivative assets, net | 1,251 | 1,267 | ||
Other assets | 41 | 39 | ||
Liabilities | ||||
Deposits | (1,109) | (1,039) | ||
Federal Home Loan Bank, Consolidated Obligations Fair Value Disclosure | (164,045) | (171,498) | ||
Mandatorily redeemable capital stock | (10) | (12) | ||
Accrued interest payable | (967) | (1,023) | ||
Derivative liabilities, net | (14) | (7) | ||
Cash and due from banks | 32 | 31 | ||
Trading securities | 2,532 | 3,152 | ||
Held-to-Maturity Securities, Fair Value | 824 | 850 | ||
Loans to Other Federal Home Loan Banks | $ 0 | $ 0 | ||
Accrued interest receivable | 506 | 582 | ||
Derivative assets, net | 1,251 | 1,267 | ||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 898 | 975 | ||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | 81 | 94 | ||
Mandatorily redeemable capital stock | (10) | (12) | (14) | (15) |
Accrued interest payable | (967) | (1,023) | ||
Derivative liabilities, net | (14) | (7) | ||
Loans from Other Federal Home Loan Banks | 0 | 0 | ||
Federal Home Loan Bank of Cincinnati | ||||
Liabilities | ||||
Loans from Other Federal Home Loan Banks | 0 | 0 | $ (250) | $ 0 |
Fair Value, Level 1 [Member] | ||||
Assets | ||||
Cash and due from banks | 32 | 31 | ||
Interest-bearing deposits | 0 | 0 | ||
Securities purchased under agreements to resell | 0 | 0 | ||
Federal funds sold | 0 | 0 | ||
Trading securities | 0 | 0 | ||
Debt Securities, Available-for-sale | 0 | 0 | ||
Held-to-Maturity Securities, Fair Value | 0 | 0 | ||
Advances | 0 | 0 | ||
Mortgage loans held for portfolio, net | 0 | 0 | ||
Accrued interest receivable | 0 | 0 | ||
Derivative assets, net | 0 | 0 | ||
Other assets | 41 | 39 | ||
Liabilities | ||||
Deposits | 0 | 0 | ||
Federal Home Loan Bank, Consolidated Obligations Fair Value Disclosure | 0 | 0 | ||
Mandatorily redeemable capital stock | (10) | (12) | ||
Accrued interest payable | 0 | 0 | ||
Derivative liabilities, net | 0 | 0 | ||
Fair Value, Level 2 [Member] | ||||
Assets | ||||
Cash and due from banks | 0 | 0 | ||
Interest-bearing deposits | 3,711 | 3,481 | ||
Securities purchased under agreements to resell | 12,950 | 11,400 | ||
Federal funds sold | 8,305 | 7,120 | ||
Trading securities | 2,532 | 3,152 | ||
Debt Securities, Available-for-sale | 24,691 | 23,823 | ||
Held-to-Maturity Securities, Fair Value | 821 | 847 | ||
Advances | 111,068 | 122,512 | ||
Mortgage loans held for portfolio, net | 9,278 | 9,051 | ||
Accrued interest receivable | 506 | 582 | ||
Derivative assets, net | 353 | 292 | ||
Other assets | 0 | 0 | ||
Liabilities | ||||
Deposits | (1,109) | (1,039) | ||
Federal Home Loan Bank, Consolidated Obligations Fair Value Disclosure | (163,238) | (170,655) | ||
Mandatorily redeemable capital stock | 0 | 0 | ||
Accrued interest payable | (967) | (1,023) | ||
Derivative liabilities, net | (95) | (101) | ||
Fair Value, Level 3 [Member] | ||||
Assets | ||||
Cash and due from banks | 0 | 0 | ||
Interest-bearing deposits | 0 | 0 | ||
Securities purchased under agreements to resell | 0 | 0 | ||
Federal funds sold | 0 | 0 | ||
Trading securities | 0 | 0 | ||
Debt Securities, Available-for-sale | 0 | 0 | ||
Held-to-Maturity Securities, Fair Value | 3 | 3 | ||
Advances | 0 | 0 | ||
Mortgage loans held for portfolio, net | 31 | 30 | ||
Accrued interest receivable | 0 | 0 | ||
Derivative assets, net | 0 | 0 | ||
Other assets | 0 | 0 | ||
Liabilities | ||||
Deposits | 0 | 0 | ||
Federal Home Loan Bank, Consolidated Obligations Fair Value Disclosure | 0 | 0 | ||
Mandatorily redeemable capital stock | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Derivative liabilities, net | 0 | 0 | ||
Consolidated Obligation Discount Notes [Member] | Fair Value [Member] | ||||
Liabilities | ||||
Discount notes | (63,356) | (54,534) | ||
Consolidated Obligation Discount Notes [Member] | Reported Value Measurement [Member] | ||||
Liabilities | ||||
Discount notes | (63,358) | (54,537) | ||
Consolidated Obligation Discount Notes [Member] | Fair Value, Level 1 [Member] | ||||
Liabilities | ||||
Discount notes | 0 | 0 | ||
Consolidated Obligation Discount Notes [Member] | Fair Value, Level 2 [Member] | ||||
Liabilities | ||||
Discount notes | (63,356) | (54,534) | ||
Consolidated Obligation Discount Notes [Member] | Fair Value, Level 3 [Member] | ||||
Liabilities | ||||
Discount notes | 0 | 0 | ||
Consolidated Obligation Bonds [Member] | Fair Value [Member] | ||||
Liabilities | ||||
Bonds, Fair Value | (99,882) | (116,121) | ||
Consolidated Obligation Bonds [Member] | Reported Value Measurement [Member] | ||||
Liabilities | ||||
Bonds, Fair Value | (100,687) | (116,961) | ||
Consolidated Obligation Bonds [Member] | Fair Value, Level 1 [Member] | ||||
Liabilities | ||||
Bonds, Fair Value | 0 | 0 | ||
Consolidated Obligation Bonds [Member] | Fair Value, Level 2 [Member] | ||||
Liabilities | ||||
Bonds, Fair Value | (99,882) | (116,121) | ||
Consolidated Obligation Bonds [Member] | Fair Value, Level 3 [Member] | ||||
Liabilities | ||||
Bonds, Fair Value | $ 0 | $ 0 |
Fair Value (Fair Value on a Rec
Fair Value (Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | $ 2,532 | $ 3,152 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 898 | 975 |
Derivative assets, net | 1,251 | 1,267 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | 81 | 94 |
Derivative liabilities, net | (14) | (7) |
Fair Value, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 0 | 0 |
Debt Securities, Available-for-sale | 0 | 0 |
Derivative assets, net | 0 | 0 |
Other assets | 41 | 39 |
Derivative liabilities, net | 0 | 0 |
Fair Value, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 2,532 | 3,152 |
Debt Securities, Available-for-sale | 24,691 | 23,823 |
Derivative assets, net | 353 | 292 |
Other assets | 0 | 0 |
Derivative liabilities, net | (95) | (101) |
Fair Value, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 0 | 0 |
Debt Securities, Available-for-sale | 0 | 0 |
Derivative assets, net | 0 | 0 |
Other assets | 0 | 0 |
Derivative liabilities, net | 0 | 0 |
Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 898 | 975 |
Derivative assets, net | 1,267 | |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | 81 | 94 |
Fair Value, Recurring [Member] | Fair Value, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 0 | 0 |
Debt Securities, Available-for-sale | 0 | 0 |
Derivative assets, net | 0 | |
Other assets | 41 | 39 |
Total recurring assets | 41 | 39 |
Derivative liabilities, net | 0 | |
Total recurring liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 2,532 | 3,152 |
Debt Securities, Available-for-sale | 24,691 | 23,823 |
Derivative assets, net | 292 | |
Other assets | 0 | 0 |
Total recurring assets | 27,576 | 27,267 |
Derivative liabilities, net | (101) | |
Total recurring liabilities | (59,694) | (47,543) |
Fair Value, Recurring [Member] | Fair Value, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 0 | 0 |
Debt Securities, Available-for-sale | 0 | 0 |
Derivative assets, net | 0 | |
Other assets | 0 | 0 |
Total recurring assets | 0 | 0 |
Derivative liabilities, net | 0 | |
Total recurring liabilities | 0 | 0 |
Interest Rate Swap [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 898 | 975 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | 81 | 94 |
Interest Rate Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Level 1 [Member] | ||
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 Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets, net | 353 | 291 |
Derivative liabilities, net | (95) | (100) |
Interest Rate Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets, net | 0 | 0 |
Derivative liabilities, net | 0 | 0 |
Forward Contracts [Member] | Fair Value, Recurring [Member] | Fair Value, Level 1 [Member] | Mortgage-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities, net | 0 | |
Forward Contracts [Member] | Fair Value, Recurring [Member] | Fair Value, Level 2 [Member] | Mortgage-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities, net | (1) | |
Forward Contracts [Member] | Fair Value, Recurring [Member] | Fair Value, Level 3 [Member] | Mortgage-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities, net | 0 | |
Fair Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 2,532 | 3,152 |
Debt Securities, Available-for-sale | 24,691 | 23,823 |
Derivative assets, net | 1,251 | 1,267 |
Other assets | 41 | 39 |
Derivative liabilities, net | (14) | (7) |
Fair Value [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 2,532 | 3,152 |
Debt Securities, Available-for-sale | 24,691 | 23,823 |
Other assets | 41 | 39 |
Total recurring assets | 28,515 | 28,281 |
Derivative liabilities, net | (7) | |
Total recurring liabilities | (59,613) | (47,449) |
Fair Value [Member] | Interest Rate Swap [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets, net | 1,251 | 1,266 |
Derivative liabilities, net | (14) | (6) |
Fair Value [Member] | Forward Contracts [Member] | Fair Value, Recurring [Member] | Mortgage-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities, net | (1) | |
Consolidated Obligation Discount Notes [Member] | Fair Value, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount notes | 0 | 0 |
Consolidated Obligation Discount Notes [Member] | Fair Value, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount notes | 63,356 | 54,534 |
Consolidated Obligation Discount Notes [Member] | Fair Value, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount notes | 0 | 0 |
Consolidated Obligation Discount Notes [Member] | Fair Value, Recurring [Member] | Fair Value, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount notes | 0 | 0 |
Consolidated Obligation Discount Notes [Member] | Fair Value, Recurring [Member] | Fair Value, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount notes | (59,599) | 47,442 |
Consolidated Obligation Discount Notes [Member] | Fair Value, Recurring [Member] | Fair Value, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount notes | 0 | 0 |
Consolidated Obligation Discount Notes [Member] | Fair Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount notes | 63,356 | 54,534 |
US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 2,314 | 2,925 |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 0 | 0 |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 2,314 | 2,925 |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 0 | 0 |
US Treasury Securities [Member] | Fair Value [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 2,314 | 2,925 |
U.S. obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 63 | 68 |
U.S. obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 0 | 0 |
Debt Securities, Available-for-sale | 0 | 0 |
U.S. obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 63 | 68 |
Debt Securities, Available-for-sale | 261 | 328 |
U.S. obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 0 | 0 |
Debt Securities, Available-for-sale | 0 | 0 |
U.S. obligations [Member] | Fair Value [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 63 | 68 |
Debt Securities, Available-for-sale | 261 | 328 |
GSE obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 48 | 49 |
GSE obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 0 | 0 |
Debt Securities, Available-for-sale | 0 | 0 |
GSE obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 48 | 49 |
Debt Securities, Available-for-sale | 317 | 344 |
GSE obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 0 | 0 |
Debt Securities, Available-for-sale | 0 | 0 |
GSE obligations [Member] | Fair Value [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 48 | 49 |
Debt Securities, Available-for-sale | 317 | 344 |
State or local housing agency obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 0 | 0 |
State or local housing agency obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 542 | 458 |
State or local housing agency obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 0 | 0 |
State or local housing agency obligations [Member] | Fair Value [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 542 | 458 |
Other [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 107 | 110 |
Other [Member] | Fair Value, Recurring [Member] | Fair Value, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 0 | 0 |
Debt Securities, Available-for-sale | 0 | 0 |
Other [Member] | Fair Value, Recurring [Member] | Fair Value, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 107 | 110 |
Debt Securities, Available-for-sale | 160 | 160 |
Other [Member] | Fair Value, Recurring [Member] | Fair Value, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 0 | 0 |
Debt Securities, Available-for-sale | 0 | 0 |
Other [Member] | Fair Value [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 107 | 110 |
Debt Securities, Available-for-sale | 160 | 160 |
U.S. obligations MBS [Member] | Single Family [Member] | Fair Value, Recurring [Member] | Fair Value, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 0 | 0 |
U.S. obligations MBS [Member] | Single Family [Member] | Fair Value, Recurring [Member] | Fair Value, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 4,695 | 4,398 |
U.S. obligations MBS [Member] | Single Family [Member] | Fair Value, Recurring [Member] | Fair Value, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 0 | 0 |
U.S. obligations MBS [Member] | Single Family [Member] | Fair Value [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 4,695 | 4,398 |
Mortgage-backed securities, GSE [Member] | Single Family [Member] | Fair Value, Recurring [Member] | Fair Value, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Mortgage-backed securities, GSE [Member] | Single Family [Member] | Fair Value, Recurring [Member] | Fair Value, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 222 | 180 |
Mortgage-backed securities, GSE [Member] | Single Family [Member] | Fair Value, Recurring [Member] | Fair Value, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Mortgage-backed securities, GSE [Member] | Single Family [Member] | Fair Value [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 222 | 180 |
Mortgage-backed securities, GSE [Member] | Multifamily [Member] | Fair Value, Recurring [Member] | Fair Value, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Mortgage-backed securities, GSE [Member] | Multifamily [Member] | Fair Value, Recurring [Member] | Fair Value, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 18,494 | 17,955 |
Mortgage-backed securities, GSE [Member] | Multifamily [Member] | Fair Value, Recurring [Member] | Fair Value, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Mortgage-backed securities, GSE [Member] | Multifamily [Member] | Fair Value [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 18,494 | 17,955 |
Mortgages [Member] | Forward Contracts [Member] | Fair Value, Recurring [Member] | Fair Value, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets, net | 0 | |
Mortgages [Member] | Forward Contracts [Member] | Fair Value, Recurring [Member] | Fair Value, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets, net | 1 | |
Mortgages [Member] | Forward Contracts [Member] | Fair Value, Recurring [Member] | Fair Value, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets, net | 0 | |
Mortgages [Member] | Fair Value [Member] | Forward Contracts [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets, net | 1 | |
Fair Value Option Election | Consolidated Obligation Discount Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount notes | (59,599) | (47,442) |
Fair Value Option Election | Consolidated Obligation Discount Notes [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount notes | $ (59,599) | $ 47,442 |
Fair Value (Fair Value on a Non
Fair Value (Fair Value on a Non-Recurring Basis) (Details) - Fair Value, Level 3 [Member] - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired mortgage loans held for portfolio | $ 31 | $ 30 |
Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired mortgage loans held for portfolio | $ 2 | $ 1 |
Fair Value (Fair Value Option)
Fair Value (Fair Value Option) (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ 37 | $ (65) | |
Consolidated Obligation Discount Notes [Member] | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Fair Value Option, Principal Balance, Consolidated Obligation Discount Notes | 61,128 | $ 48,164 | |
Fair Value, Option, Aggregate Differences, Consolidated Obligation Discount Notes | (1,529) | (722) | |
Consolidated Obligation Discount Notes [Member] | Fair Value Option Election | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Discount notes | 59,599 | 47,442 | |
Short-term Debt [Member] | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Fair Value, Option, Aggregate Differences, Consolidated Obligation Discount Notes | $ (52) | $ (15) |
Commitments and Contingencies_2
Commitments and Contingencies (Details) $ in Millions | Mar. 31, 2024 USD ($) Institutions | Dec. 31, 2023 USD ($) |
Loss Contingencies [Line Items] | ||
Obligation with Joint and Several Liability Arrangement, Amount Outstanding | $ 1,006,700 | $ 1,032,100 |
Other liabilities | 195 | 798 |
FLA Balance For All Master Commitments | 182 | 178 |
Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 15,445 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 133 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 15,578 | 9,396 |
Other liabilities | 11 | 4 |
Financial Standby Letter of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 48 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 797 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | $ 845 | 852 |
Number of Housing Authorities For Which the Bank Has Standby Bond Purchase Agreements | Institutions | 7 | |
Loan Origination Commitments [Member] | ||
Loss Contingencies [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | $ 436 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 30 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 466 | 2,163 |
Commitments to Issue Discount Notes [Member] | ||
Loss Contingencies [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 1,385 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 0 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 1,385 | 551 |
Commitments to Issue Bonds | ||
Loss Contingencies [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 85 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 0 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 85 | 47 |
Mortgages [Member] | Forward Contracts [Member] | ||
Loss Contingencies [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 148 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 0 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 148 | 112 |
standby letters of credit issuance commitments [Domain] | ||
Loss Contingencies [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | $ 0 | $ 0 |
Activities with Stockholders _2
Activities with Stockholders (Transactions with Directors' Financial Institutions) (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Related Party Transaction [Line Items] | ||
Advances | $ 110,976 | $ 122,530 |
Loans and Leases Receivable, Net Amount | 10,351 | 9,967 |
Deposits, Domestic | 1,109 | 1,039 |
Capital Stock | 6,442 | 6,873 |
Director [Member] | ||
Related Party Transaction [Line Items] | ||
Advances | $ 807 | $ 739 |
Advances, Percent | 1% | 1% |
Mortgage Loans, Percent | 1% | 1% |
Loans and Leases Receivable, Net Amount | $ 132 | $ 124 |
Deposits, Domestic | $ 9 | $ 8 |
Deposits, Percent | 1% | 1% |
Capital Stock | $ 55 | $ 50 |
Capital Stock, Percent | 1% | 1% |
Activities with Stockholders (B
Activities with Stockholders (Business Concentrations) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Related Party Transaction [Line Items] | |||
Advances | $ 110,976 | $ 122,530 | |
Loans and Leases Receivable, Net Amount | 10,351 | 9,967 | |
Advances | 1,698 | $ 1,394 | |
Standby Letters of Credit [Member] | |||
Related Party Transaction [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 15,578 | 9,396 | |
Wells Fargo Bank N.A. | |||
Related Party Transaction [Line Items] | |||
Capital Stock Value Including Mandatorily Redeemable Stock | $ 1,278 | $ 1,676 | |
Capital Stock Value Including Mandatorily Redeemable Stock Percent | 20% | 24% | |
Advances | $ 28,000 | $ 37,000 | |
Loans and Leases Receivable, Net Amount | 7 | 7 | |
Advances | 520 | 1,687 | |
Wells Fargo Bank N.A. | Standby Letters of Credit [Member] | |||
Related Party Transaction [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 7,600 | 900 | |
Superior Guaranty Insurance Company | |||
Related Party Transaction [Line Items] | |||
Capital Stock Value Including Mandatorily Redeemable Stock | $ 5 | $ 6 | |
Capital Stock Value Including Mandatorily Redeemable Stock Percent | 0% | 0% | |
Advances | $ 0 | $ 0 | |
Loans and Leases Receivable, Net Amount | 131 | 137 | |
Advances | 0 | 0 | |
Principal Owner [Member] | |||
Related Party Transaction [Line Items] | |||
Capital Stock Value Including Mandatorily Redeemable Stock | $ 1,283 | $ 1,682 | |
Capital Stock Value Including Mandatorily Redeemable Stock Percent | 20% | 24% | |
Advances | $ 28,000 | $ 37,000 | |
Loans and Leases Receivable, Net Amount | 138 | 144 | |
Advances | $ 520 | $ 1,687 | |
Stockholders' Equity, Total [Member] | Stockholders' Capital Stock Outstanding Concenetration Risk [Member] | Minimum [Member] | |||
Related Party Transaction [Line Items] | |||
Business Concentration Percentage | 10% |
Activities with Other FHLBank_2
Activities with Other FHLBanks (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
Schedule of Other Transactions [Line Items] | ||||
Loans to Other Federal Home Loan Banks | $ 0 | $ 0 | ||
Proceeds from Federal Home Loan Bank Loans | (1,010) | |||
Payments for Federal Home Loan Bank Advances | 1,010 | |||
Loans from Other Federal Home Loan Banks | $ 0 | $ 0 | ||
Proceeds from FHLBank Borrowings, Financing Activities | 1,500 | |||
Payments of FHLBank Borrowings, Financing Activities | (1,500) | |||
Federal Home Loan Bank of Chicago | ||||
Schedule of Other Transactions [Line Items] | ||||
Loans to Other Federal Home Loan Banks | 0 | 0 | 0 | 0 |
Proceeds from Federal Home Loan Bank Loans | (5) | (5) | ||
Payments for Federal Home Loan Bank Advances | 5 | 5 | ||
Loans from Other Federal Home Loan Banks | 0 | 0 | ||
Proceeds from FHLBank Borrowings, Financing Activities | 1,000 | |||
Payments of FHLBank Borrowings, Financing Activities | (1,000) | |||
Federal Home Loan Bank of San Francisco | ||||
Schedule of Other Transactions [Line Items] | ||||
Loans to Other Federal Home Loan Banks | 0 | 0 | ||
Proceeds from Federal Home Loan Bank Loans | (1,005) | |||
Payments for Federal Home Loan Bank Advances | 1,005 | |||
Federal Home Loan Bank of Cincinnati | ||||
Schedule of Other Transactions [Line Items] | ||||
Loans from Other Federal Home Loan Banks | 0 | 250 | $ 0 | $ 0 |
Proceeds from FHLBank Borrowings, Financing Activities | 500 | 250 | ||
Payments of FHLBank Borrowings, Financing Activities | $ (500) | $ 0 |