Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Jun. 28, 2013 | Mar. 12, 2014 | Mar. 12, 2014 | |
Capital Stock Class A [Member] | Capital Stock Class B [Member] | |||
Document Type | '10-K | ' | ' | ' |
Amendment Flag | 'false | ' | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' | ' |
Entity Registrant Name | 'Federal Home Loan Bank of Topeka | ' | ' | ' |
Entity Central Index Key | '0001325878 | ' | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' | ' |
Entity Filer Category | 'Non-accelerated Filer | ' | ' | ' |
Entity Common Stock, Shares Outstanding | ' | ' | 5,144,160 | 7,688,835 |
Entity Well-known Seasoned Issuer | 'No | ' | ' | ' |
Entity Voluntary Filers | 'No | ' | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' | ' |
Entity Public Float | ' | $0 | ' | ' |
Statements_Of_Condition
Statements Of Condition (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
ASSETS | ' | ' | ||
Cash and due from banks (Note 3) | $1,713,940,000 | $369,997,000 | ||
Interest-bearing deposits | 1,116,000 | 455,000 | ||
Securities purchased under agreements to resell (Note 13) | 0 | 1,999,288,000 | ||
Federal funds sold | 575,000,000 | 850,000,000 | ||
Investment securities: | ' | ' | ||
Trading securities (Note 4) | 2,704,777,000 | 2,764,918,000 | ||
Held-to-maturity securities (Note 4) | 5,423,659,000 | [1] | 5,159,750,000 | [1] |
Total investment securities | 8,128,436,000 | 7,924,668,000 | ||
Advances (Notes 5, 7, 19) | 17,425,487,000 | 16,573,348,000 | ||
Mortgage loans held for portfolio, net: | ' | ' | ||
Mortgage loans held for portfolio (Note 6, 7, 19) | 5,956,228,000 | 5,945,933,000 | ||
Less allowance for credit losses on mortgage loans (Note 7) | -6,748,000 | -5,416,000 | ||
Mortgage loans held for portfolio, net | 5,949,480,000 | 5,940,517,000 | ||
Accrued interest receivable | 72,526,000 | 77,445,000 | ||
Premises, software and equipment, net | 11,146,000 | 8,874,000 | ||
Derivative assets, net (Notes 8, 13) | 27,957,000 | 25,166,000 | ||
Other assets (Note 18) | 45,216,000 | 48,869,000 | ||
TOTAL ASSETS | 33,950,304,000 | 33,818,627,000 | ||
LIABILITIES | ' | ' | ||
Deposits (Notes 9, 19) | 961,888,000 | 1,181,957,000 | ||
Consolidated obligations, net: | ' | ' | ||
Discount notes (Note 10, 18) | 10,889,565,000 | 8,669,059,000 | ||
Bonds (Note 10, 18) | 20,056,964,000 | 21,973,902,000 | ||
Total consolidated obligations, net | 30,946,529,000 | 30,642,961,000 | ||
Mandatorily redeemable capital stock (Note 14) | 4,764,000 | 5,665,000 | ||
Accrued interest payable | 62,447,000 | 81,801,000 | ||
Affordable Housing Program payable (Note 11) | 35,264,000 | 31,198,000 | ||
Derivative liabilities, net (Notes 8, 13) | 108,353,000 | 123,414,000 | ||
Other liabilities (Notes 16, 18) | 29,839,000 | 31,150,000 | ||
TOTAL LIABILITIES | 32,149,084,000 | 32,098,146,000 | ||
Commitments and contingencies (Note 18) | ' | ' | ||
CAPITAL | ' | ' | ||
Total capital stock (Note 14, 19) | 1,252,249,000 | 1,264,456,000 | ||
Retained earnings: | ' | ' | ||
Unrestricted | 515,589,000 | 453,346,000 | ||
Restricted (Note 14) | 51,743,000 | 27,936,000 | ||
Total retained earnings | 567,332,000 | 481,282,000 | ||
Accumulated other comprehensive income (loss) (Note 15) | -18,361,000 | -25,257,000 | ||
TOTAL CAPITAL | 1,801,220,000 | 1,720,481,000 | ||
TOTAL LIABILITIES AND CAPITAL | 33,950,304,000 | 33,818,627,000 | ||
Capital Stock Class A [Member] | ' | ' | ||
CAPITAL | ' | ' | ||
Total capital stock (Note 14, 19) | 430,063,000 | 405,304,000 | ||
Retained earnings: | ' | ' | ||
TOTAL CAPITAL | 430,063,000 | [2] | 405,304,000 | [2] |
Capital Stock Class B [Member] | ' | ' | ||
CAPITAL | ' | ' | ||
Total capital stock (Note 14, 19) | 822,186,000 | 859,152,000 | ||
Retained earnings: | ' | ' | ||
TOTAL CAPITAL | $822,186,000 | [2] | $859,152,000 | [2] |
[1] | Fair value:B $5,415,205 and $5,192,330 as of December 31, 2013 and 2012, respectively. | |||
[2] | Putable |
Statements_Of_Condition_Parent
Statements Of Condition (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Per Share data, unless otherwise specified | ||
Held-to-maturity Securities, Fair value | $5,415,205 | $5,192,330 |
Capital Stock Class A [Member] | ' | ' |
Common Stock, Par Value | $100 | $100 |
Common Stock, Shares Issued | 4,300 | 4,053 |
Common Stock, Shares Outstanding | 4,300 | 4,053 |
Capital Stock Class B [Member] | ' | ' |
Common Stock, Par Value | $100 | $100 |
Common Stock, Shares Issued | 8,222 | 8,592 |
Common Stock, Shares Outstanding | 8,222 | 8,592 |
Statements_Of_Income
Statements Of Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
INTEREST INCOME: | ' | ' | ' |
Interest-bearing deposits | $311 | $513 | $204 |
Securities purchased under agreements to resell | 1,027 | 2,742 | 78 |
Federal funds sold | 1,346 | 1,285 | 2,141 |
Trading securities (Note 4) | 56,895 | 69,244 | 81,388 |
Held-to-maturity securities (Note 4) | 57,748 | 70,244 | 99,094 |
Advances (Notes 5) | 124,332 | 148,032 | 154,536 |
Prepayment fees on terminated advances (Notes 5) | 4,109 | 6,528 | 10,978 |
Mortgage loans held for sale (Note 6) | 0 | 0 | 2,142 |
Mortgage loans held for portfolio (Note 6) | 195,644 | 194,363 | 193,686 |
Other | 1,653 | 1,832 | 2,240 |
Total interest income | 443,065 | 494,783 | 546,487 |
INTEREST EXPENSE: | ' | ' | ' |
Deposits (Note 9) | 983 | 1,511 | 2,594 |
Consolidated obligations: | ' | ' | ' |
Discount notes (Note 10) | 8,884 | 9,237 | 9,591 |
Bonds (Note 10) | 215,239 | 264,134 | 302,765 |
Mandatorily redeemable capital stock (Note 14) | 25 | 41 | 174 |
Other | 161 | 180 | 437 |
Total interest expense | 225,292 | 275,103 | 315,561 |
NET INTEREST INCOME | 217,773 | 219,680 | 230,926 |
Provision for credit losses on mortgage loans (Note 7) | 1,926 | 2,496 | 1,058 |
NET INTEREST INCOME AFTER MORTGAGE LOAN LOSS PROVISION | 215,847 | 217,184 | 229,868 |
OTHER INCOME (LOSS): | ' | ' | ' |
Total other-than-temporary impairment losses on held-to-maturity securities (Note 4) | -27 | -5,105 | -13,686 |
Net amount of impairment losses on held-to-maturity securities reclassified to/(from) accumulated other comprehensive income (loss) | -503 | 3,445 | 8,975 |
Net other-than-temporary impairment losses on held-to-maturity securities (Note 4) | -530 | -1,660 | -4,711 |
Net gain (loss) on trading securities (Note 4) | -50,985 | -28,048 | 20,772 |
Net gain (loss) on derivatives and hedging activities (Note 8) | 10,107 | -21,478 | -108,743 |
Net gain (loss) on mortgage loans held for sale (Note 6) | 0 | 0 | 4,425 |
Standby bond purchase agreement commitment fees | 5,343 | 4,687 | 4,064 |
Letters of credit fees | 3,044 | 3,079 | 3,347 |
Other | 2,203 | 504 | 2,518 |
Total other income (loss) | -30,818 | -42,916 | -78,328 |
OTHER EXPENSES: | ' | ' | ' |
Compensation and benefits (Note 16) | 29,541 | 29,231 | 28,604 |
Other operating (Note 18) | 13,636 | 12,866 | 13,857 |
Federal Housing Finance Agency | 2,426 | 3,117 | 4,039 |
Office of Finance | 2,454 | 2,287 | 2,236 |
Other | 4,705 | 4,195 | 5,045 |
Total other expenses | 52,762 | 51,696 | 53,781 |
INCOME BEFORE ASSESSMENTS | 132,267 | 122,572 | 97,759 |
Affordable Housing Program (Note 11) | 13,229 | 12,261 | 8,611 |
REFCORP (Note 12) | 0 | 0 | 11,822 |
Total assessments | 13,229 | 12,261 | 20,433 |
NET INCOME | $119,038 | $110,311 | $77,326 |
Statements_Of_Comprehensive_In
Statements Of Comprehensive Income (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Statements Of Comprehensive Income | ' | ' | ' | |||
Net income | $119,038 | $110,311 | $77,326 | |||
Net non-credit portion of other than temporary impairment losses on held-to-maturity securities: | ' | ' | ' | |||
Non-credit portion | -19 | -4,634 | -12,144 | |||
Reclassification of non-credit portion included in net income | 522 | [1] | 1,189 | [1] | 3,169 | [1] |
Accretion of non-credit portion | 4,340 | 6,358 | 4,507 | |||
Total net non-credit potion of other-than-temporary impairment losses on held-to-maturity securities | 4,843 | 2,913 | -4,468 | |||
Defined benefit pension plan: | ' | ' | ' | |||
Net gain (loss) | 1,667 | -661 | -1,020 | |||
Amortization of net loss | 386 | [2] | 332 | [2] | 319 | [2] |
Total defined benefit pension plan | 2,053 | -329 | -701 | |||
Total other comprehensive income (loss) | 6,896 | 2,584 | -5,169 | |||
TOTAL COMPREHENSIVE INCOME | $125,934 | $112,895 | $72,157 | |||
[1] | Recorded in bNet other-than-temporary impairment losses on held-to-maturity securitiesb on the Statements of Income. Amount represents a debit (decrease to other income (loss)). | |||||
[2] | Recorded in bCompensation and benefitsb on the Statements of Income. Amount represents a debit (increase to other expenses). |
Statements_Of_Capital
Statements Of Capital (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Stockholders' Equity Attributable to Parent, Beginning Balance | $1,720,481 | $1,701,447 | $1,783,478 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | |||
Proceeds from issuance of capital stock | 503,750 | 435,103 | 186,728 | |||
Repurchase/redemption of capital stock | -191,813 | -146,996 | -39,206 | |||
Comprehensive income (loss) | 125,934 | 112,895 | 72,157 | |||
Net reclassification of shares to mandatorily redeemable capital stock | -356,841 | -381,683 | -301,348 | |||
Net transfer of shares between Class A and Class B | 0 | 0 | 0 | |||
Dividends on capital stock | ' | ' | ' | |||
Cash payment | -291 | -285 | -362 | |||
Stock Issued | 0 | 0 | 0 | |||
Stockholders' Equity Attributable to Parent, Ending Balance | 1,801,220 | 1,720,481 | 1,701,447 | |||
Total Capital Stock [Member] | ' | ' | ' | |||
BALANCE, shares | 12,645 | [1] | 13,278 | [1] | 14,544 | [1] |
Stockholders' Equity Attributable to Parent, Beginning Balance | 1,264,456 | [1] | 1,327,827 | [1] | 1,454,396 | [1] |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | |||
Proceeds from issuance of capital stock, shares | 5,038 | [1] | 4,351 | [1] | 1,868 | [1] |
Proceeds from issuance of capital stock | 503,750 | [1] | 435,103 | [1] | 186,728 | [1] |
Repurchase/redemption of capital stock, shares | -1,919 | [1] | -1,469 | [1] | -392 | [1] |
Repurchase/redemption of capital stock | -191,813 | [1] | -146,996 | [1] | -39,206 | [1] |
Net reclassification of shares to mandatorily redeemable capital stock, shares | -3,569 | [1] | -3,817 | [1] | -3,014 | [1] |
Net reclassification of shares to mandatorily redeemable capital stock | -356,841 | [1] | -381,683 | [1] | -301,348 | [1] |
Net transfer of shares between Class A and Class B, shares | 0 | [1] | 0 | [1] | 0 | [1] |
Net transfer of shares between Class A and Class B | 0 | [1] | 0 | [1] | 0 | [1] |
Dividends on capital stock | ' | ' | ' | |||
Stock issued, shares | 327 | [1] | 302 | [1] | 272 | [1] |
Stock Issued | 32,697 | [1] | 30,205 | [1] | 27,257 | [1] |
BALANCE, shares | 12,522 | [1] | 12,645 | [1] | 13,278 | [1] |
Stockholders' Equity Attributable to Parent, Ending Balance | 1,252,249 | [1] | 1,264,456 | [1] | 1,327,827 | [1] |
Total Retained Earnings [Member] | ' | ' | ' | |||
Stockholders' Equity Attributable to Parent, Beginning Balance | 481,282 | 401,461 | 351,754 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | |||
Comprehensive income (loss) | 119,038 | 110,311 | 77,326 | |||
Dividends on capital stock | ' | ' | ' | |||
Cash payment | -291 | -285 | -362 | |||
Stock issued | -32,697 | -30,205 | -27,257 | |||
Stockholders' Equity Attributable to Parent, Ending Balance | 567,332 | 481,282 | 401,461 | |||
Unrestricted Retained Earnings [Member] | ' | ' | ' | |||
Stockholders' Equity Attributable to Parent, Beginning Balance | 453,346 | 395,588 | 351,754 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | |||
Comprehensive income (loss) | 95,231 | 88,248 | 71,453 | |||
Dividends on capital stock | ' | ' | ' | |||
Cash payment | -291 | -285 | -362 | |||
Stock issued | -32,697 | -30,205 | -27,257 | |||
Stockholders' Equity Attributable to Parent, Ending Balance | 515,589 | 453,346 | 395,588 | |||
Restricted Retained Earnings [Member] | ' | ' | ' | |||
Stockholders' Equity Attributable to Parent, Beginning Balance | 27,936 | 5,873 | 0 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | |||
Comprehensive income (loss) | 23,807 | 22,063 | 5,873 | |||
Dividends on capital stock | ' | ' | ' | |||
Stockholders' Equity Attributable to Parent, Ending Balance | 51,743 | 27,936 | 5,873 | |||
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' | |||
Stockholders' Equity Attributable to Parent, Beginning Balance | -25,257 | -27,841 | -22,672 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | |||
Comprehensive income (loss) | 6,896 | 2,584 | -5,169 | |||
Dividends on capital stock | ' | ' | ' | |||
Stockholders' Equity Attributable to Parent, Ending Balance | -18,361 | -25,257 | -27,841 | |||
Capital Stock Class A [Member] | ' | ' | ' | |||
BALANCE, shares | 4,053 | [1] | 5,373 | [1] | 5,934 | [1] |
Stockholders' Equity Attributable to Parent, Beginning Balance | 405,304 | [1] | 537,304 | [1] | 593,386 | [1] |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | |||
Proceeds from issuance of capital stock, shares | 15 | [1] | 44 | [1] | 65 | [1] |
Proceeds from issuance of capital stock | 1,451 | [1] | 4,421 | [1] | 6,468 | [1] |
Repurchase/redemption of capital stock, shares | -1,711 | [1] | -1,283 | [1] | -343 | [1] |
Repurchase/redemption of capital stock | -171,051 | [1] | -128,329 | [1] | -34,272 | [1] |
Net reclassification of shares to mandatorily redeemable capital stock, shares | -807 | [1] | -660 | [1] | -1,747 | [1] |
Net reclassification of shares to mandatorily redeemable capital stock | -80,680 | [1] | -65,986 | [1] | -174,660 | [1] |
Net transfer of shares between Class A and Class B, shares | 2,750 | [1] | 579 | [1] | 1,464 | [1] |
Net transfer of shares between Class A and Class B | 275,039 | [1] | 57,894 | [1] | 146,382 | [1] |
Dividends on capital stock | ' | ' | ' | |||
BALANCE, shares | 4,300 | [1] | 4,053 | [1] | 5,373 | [1] |
Stockholders' Equity Attributable to Parent, Ending Balance | 430,063 | [1] | 405,304 | [1] | 537,304 | [1] |
Capital Stock Class B [Member] | ' | ' | ' | |||
BALANCE, shares | 8,592 | [1] | 7,905 | [1] | 8,610 | [1] |
Stockholders' Equity Attributable to Parent, Beginning Balance | 859,152 | [1] | 790,523 | [1] | 861,010 | [1] |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | |||
Proceeds from issuance of capital stock, shares | 5,023 | [1] | 4,307 | [1] | 1,803 | [1] |
Proceeds from issuance of capital stock | 502,299 | [1] | 430,682 | [1] | 180,260 | [1] |
Repurchase/redemption of capital stock, shares | -208 | [1] | -186 | [1] | -49 | [1] |
Repurchase/redemption of capital stock | -20,762 | [1] | -18,667 | [1] | -4,934 | [1] |
Net reclassification of shares to mandatorily redeemable capital stock, shares | -2,762 | [1] | -3,157 | [1] | -1,267 | [1] |
Net reclassification of shares to mandatorily redeemable capital stock | -276,161 | [1] | -315,697 | [1] | -126,688 | [1] |
Net transfer of shares between Class A and Class B, shares | -2,750 | [1] | -579 | [1] | -1,464 | [1] |
Net transfer of shares between Class A and Class B | -275,039 | [1] | -57,894 | [1] | -146,382 | [1] |
Dividends on capital stock | ' | ' | ' | |||
Stock issued, shares | 327 | [1] | 302 | [1] | 272 | [1] |
Stock Issued | 32,697 | [1] | 30,205 | [1] | 27,257 | [1] |
BALANCE, shares | 8,222 | [1] | 8,592 | [1] | 7,905 | [1] |
Stockholders' Equity Attributable to Parent, Ending Balance | $822,186 | [1] | $859,152 | [1] | $790,523 | [1] |
[1] | Putable |
Statements_Of_Capital_Parenthe
Statements Of Capital (Parenthetical) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Capital Stock Class A [Member] | ' | ' | ' |
Stock dividend rate percentage | 0.30% | 0.30% | 0.30% |
Capital Stock Class B [Member] | ' | ' | ' |
Stock dividend rate percentage | 3.60% | 3.50% | 3.20% |
Statements_Of_Cash_Flows
Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net income | $119,038 | $110,311 | $77,326 |
Adjustments to reconcile income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' |
Premiums and discounts on consolidated obligations, net | -30,258 | -25,103 | -32,919 |
Concessions on consolidated obligations | 5,913 | 18,125 | 12,276 |
Premiums and discounts on investments, net | -1,563 | -1,665 | -2,210 |
Premiums, discounts and commitment fees on advances, net | -15,129 | -12,829 | -19,915 |
Premiums, discounts and deferred loan costs on mortgage loans, net | 20,119 | 20,432 | 7,904 |
Fair value adjustments on hedged assets or liabilities | 14,862 | 17,588 | 20,160 |
Premises, software and equipment | 1,943 | 2,152 | 2,866 |
Other | 386 | 332 | 319 |
Provision for credit losses on mortgage loans | 1,926 | 2,496 | 1,058 |
Non-cash interest on mandatorily redeemable capital stock | 23 | 38 | 169 |
Net other-than-temporary impairment losses on held-to-maturity securities | 530 | 1,660 | 4,711 |
Net realized (gain) loss on sale of mortgage loans held for sale | 0 | 0 | -4,425 |
Net realized (gain) loss on disposals of premises, software and equipment | -17 | 1,951 | -6 |
Other (gains) losses | 160 | 230 | 195 |
Net gain (loss) on trading securities | 50,985 | 28,048 | -20,772 |
(Gain) loss due to change in net fair value adjustment on derivative and hedging activities | 676 | 42,501 | 128,534 |
(Increase) decrease in accrued interest receivable | 4,948 | 8,197 | 7,676 |
Change in net accrued interest included in derivative assets | 4,030 | -2,031 | 7,551 |
(Increase) decrease in other assets | 1,516 | 3,730 | -751 |
Increase (decrease) in accrued interest payable | -19,354 | -14,435 | -32,321 |
Change in net accrued interest included in derivative liabilities | 3,881 | 990 | 4,668 |
Increase (decrease) in Affordable Housing Program liability | 4,066 | -194 | -7,834 |
Increase (decrease) in REFCORP liability | 0 | 0 | -8,014 |
Increase (decrease) in other liabilities | 5 | 141 | 2,510 |
Total adjustments | 49,648 | 92,354 | 71,430 |
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 168,686 | 202,665 | 148,756 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' |
Net (increase) decrease in interest-bearing deposits | 91,882 | 5,947 | -244,248 |
Net (increase) decrease in securities purchased under resale agreements | 1,999,288 | -1,999,288 | 0 |
Net (increase) decrease in Federal funds sold | 275,000 | 190,000 | 715,000 |
Net (increase) decrease in short-term trading securities | 124,964 | 1,234,706 | 2,241,242 |
Proceeds from sale of long-term trading securities | 0 | 0 | 284,445 |
Proceeds from maturities of and principal repayments on long-term trading securities | 384,447 | 931,454 | 836,675 |
Purchases of long-term trading securities | -500,278 | -399,975 | -1,566,397 |
Proceeds from maturities of and principal repayments on long-term held-to-maturity securities | 1,481,409 | 1,674,628 | 1,777,260 |
Purchases of long-term held-to-maturity securities | -1,739,417 | -1,849,115 | 0 |
Principal collected on advances | 69,055,650 | 38,133,313 | 33,427,385 |
Advances made | -70,118,546 | -37,377,918 | -31,353,692 |
Proceeds from sale of mortgage loans held for sale | 0 | 0 | 111,444 |
Principal collected on mortgage loans | 1,210,217 | 1,521,806 | 845,353 |
Purchase or origination of mortgage loans | -1,252,622 | -2,555,771 | -1,600,648 |
Proceeds from sale of foreclosed assets | 5,072 | 7,938 | 6,960 |
Principal collected on other loans made | 1,975 | 1,848 | 1,728 |
Proceeds from sale of premises, software and equipment | 48 | 36 | 24 |
Purchases of premises, software and equipment | -4,246 | -1,634 | -1,654 |
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 1,014,843 | -482,025 | 5,480,877 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Net increase (decrease) in deposits | -219,403 | 166,706 | -231,781 |
Net proceeds from issuance of consolidated obligations: | ' | ' | ' |
Discount notes | 83,223,175 | 67,338,915 | 61,943,402 |
Bonds | 8,490,711 | 19,854,295 | 13,010,952 |
Payments for maturing and retired consolidated obligations: | ' | ' | ' |
Discount notes | -81,002,894 | -68,922,319 | -65,392,039 |
Bonds | -10,229,500 | -17,700,300 | -14,638,320 |
Net increase (decrease) in overnight loans from other FHLBanks | 0 | -35,000 | 35,000 |
Net increase (decrease) in other borrowings | 0 | -5,000 | -5,000 |
Proceeds from financing derivatives | 170 | 0 | 0 |
Net interest payments received (paid) for financing derivatives | -55,726 | -67,378 | -70,528 |
Proceeds from issuance of capital stock | 503,750 | 435,103 | 186,728 |
Payments for repurchase/redemption of capital stock | -191,813 | -146,996 | -39,206 |
Payments for repurchase of mandatorily redeemable capital stock | -357,765 | -384,425 | -312,698 |
Cash dividends paid | -291 | -285 | -362 |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 160,414 | 533,316 | -5,513,852 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 1,343,943 | 253,956 | 115,781 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 369,997 | 116,041 | 260 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 1,713,940 | 369,997 | 116,041 |
Supplemental disclosures: | ' | ' | ' |
Interest paid | 238,078 | 274,240 | 340,160 |
Affordable Housing Program payments | 10,245 | 13,210 | 16,984 |
REFCORP payments | 0 | 0 | 19,836 |
Net transfers of mortgage loans to real estate owned | $5,438 | $6,597 | $6,799 |
Background_Information
Background Information | 12 Months Ended |
Dec. 31, 2013 | |
Background Information [Abstract] | ' |
Background Information | ' |
BACKGROUND INFORMATION | |
The Federal Home Loan Bank of Topeka (FHLBank or FHLBank Topeka), a federally chartered corporation, is one of 12 district Federal Home Loan Banks (FHLBanks). The FHLBanks are government-sponsored enterprises (GSE) that serve the public by enhancing the availability of credit for residential mortgages and targeted community development and provide a readily available, competitively-priced source of funds to their members. The FHLBank is a cooperative whose member institutions own substantially all of the outstanding capital stock of the FHLBank and generally receive dividends on their stock investments. Regulated financial depositories and insurance companies engaged in residential housing finance whose principal place of business is located in Colorado, Kansas, Nebraska or Oklahoma are eligible to apply for membership. Additionally, qualified community development financial institutions are eligible for membership. State and local housing authorities that meet certain statutory requirements may become housing associates of the FHLBank and also be eligible to borrow from the FHLBank. While eligible to borrow, housing associates are not members of the FHLBank and therefore are not permitted or required to hold capital stock. | |
All members are required to purchase stock in the FHLBank located in their district in accordance with the capital plan of that FHLBank. Under FHLBank Topeka’s capital plan, members must own capital stock in the FHLBank based on the amount of their total assets. Each member is also required to purchase activity-based capital stock as it engages in certain business activities with the FHLBank, including advances. Former members that still have outstanding business transactions with the FHLBank are also required to maintain their investments in FHLBank capital stock until the transactions mature or are paid off. As a result of these requirements, the FHLBank conducts business with members in the ordinary course of its business. For financial reporting purposes, the FHLBank defines related parties as those members: (1) with investments in excess of 10 percent of the FHLBank’s total regulatory capital stock outstanding, which includes mandatorily redeemable capital stock; or (2) with an officer or director serving on the FHLBank’s board of directors. See Note 19 for more information on related party transactions. | |
The FHLBanks are supervised and regulated by the Federal Housing Finance Agency (Finance Agency), an independent agency in the executive branch of the U.S. government. The Finance Agency’s stated mission is to ensure that the housing GSEs operate in a safe and sound manner so that they serve as a reliable source of liquidity and funding for housing finance and community investment. Each FHLBank is operated as a separate entity and has its own management, employees and board of directors. The FHLBanks do not have any special purpose entities or any other type of off-balance sheet conduits. | |
The FHLBanks have established a joint office called the Office of Finance to facilitate the issuance and servicing of the debt instruments of the FHLBanks, known as consolidated obligation bonds and consolidated obligation discount notes (collectively referred to as consolidated obligations) and to prepare the combined quarterly and annual financial reports of the 12 FHLBanks. As provided by the Federal Home Loan Bank Act of 1932, as amended (Bank Act), and applicable regulations, consolidated obligations are backed only by the financial resources of the 12 FHLBanks. Consolidated obligations are the primary source of funds for the FHLBanks in addition to deposits, other borrowings and capital stock issued to members. The FHLBank primarily uses these funds to provide advances to members and to acquire mortgage loans from members through the Mortgage Partnership Finance® (MPF®) Program. In addition, the FHLBank also offers correspondent services such as wire transfer, security safekeeping and settlement services. | |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Summary Of Significant Accounting Policies [Abstract] | ' | |||
Summary Of Significant Accounting Policies | ' | |||
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||
Basis of Presentation: The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). | ||||
Reclassifications: Certain amounts in the financial statements and related footnotes have been reclassified to conform to current period presentations. These reclassifications have no impact on total assets, net income, capital or cash flows. | ||||
Use of Estimates: The preparation of financial statements under GAAP requires management to make estimates and assumptions as of the date of the financial statements in determining the reported amounts of assets, liabilities and estimated fair values and in determining the disclosure of any contingent assets or liabilities. Estimates and assumptions by management also affect the reported amounts of income and expense during the reporting period. The most significant of these estimates include the fair value of trading securities, the fair value of derivatives, the determination of other-than-temporary impairment (OTTI) on investments and the allowance for credit losses. Many of the estimates and assumptions, including those used in financial models, are based on financial market conditions as of the date of the financial statements. Because of the volatility of the financial markets, as well as other factors that affect management estimates, actual results may vary from these estimates. | ||||
Fair Values: The fair value amounts, recorded on the Statements of Condition and presented in the note disclosures for the periods presented, have been determined by the FHLBank using available market and other pertinent information and reflect the FHLBank’s best judgment of appropriate valuation methods. Although the FHLBank uses its best judgment in estimating the fair value of these financial instruments, there are inherent limitations in any valuation technique. Therefore, these fair values may not be indicative of the amounts that would have been realized in market transactions at the reporting dates. See Note 17 for more information. | ||||
Cash Flows: For purposes of the Statements of Cash Flows, the FHLBank considers cash on hand and non-interest-bearing deposits in banks as cash and cash equivalents. | ||||
Financial Instruments Meeting Netting Requirements: The FHLBank presents certain financial instruments, including derivatives, repurchase agreements and securities purchased under agreements to resell, on a net basis when it has a legal right of offset and all other requirements for netting are met (collectively referred to as the netting requirements). For these financial instruments, the FHLBank has elected to offset its asset and liability positions, as well as cash collateral received or pledged, when it has met the netting requirements. The net exposure for these financial instruments can change on a daily basis; therefore, there may be a delay between the time this exposure change is identified and additional collateral is requested, and the time when this collateral is received or pledged. Likewise, there may be a delay for excess collateral to be returned. See Note 13 for additional information regarding these financial instruments. | ||||
For derivative instruments that meet the requirements for netting, any excess cash collateral received or pledged is recognized as a derivative liability or derivative asset. See Note 8 for additional information regarding these agreements. | ||||
Interest-bearing Deposits, Securities Purchased Under Agreements to Resell and Federal Funds Sold: These investments provide short-term liquidity and are carried at cost. The FHLBank treats securities purchased under agreements to resell as short-term collateralized loans, which are classified as assets on the Statements of Condition. Securities purchased under agreements to resell are held in safekeeping in the FHLBank’s name by third-party custodians approved by the FHLBank. If the fair value of the underlying securities decreases below the fair value required as collateral, the counterparty has the option to: (1) place an equivalent amount of additional securities in safekeeping in the FHLBank’s name; or (2) remit an equivalent amount of cash; otherwise, the dollar value of the resale agreement will be decreased accordingly. Federal funds sold consist of short-term unsecured loans generally conducted with investment-grade counterparties. | ||||
Investment Securities: The FHLBank classifies investments as trading, available-for-sale and held-to-maturity at the date of acquisition. Purchases and sales of securities are recorded on a trade date basis. | ||||
Trading: Securities classified as trading are held for liquidity purposes and/or to provide a fair value offset to interest rate swaps tied to securities or for securities acquired as asset liability management tools and carried at fair value. The FHLBank records changes in the fair value of these securities through other income (loss) as net gains (losses) on trading securities. Finance Agency regulation and the FHLBank’s Risk Management Policy (RMP) prohibit trading in or the speculative use of these instruments and limits credit risk arising from these instruments. While the FHLBank classifies certain securities as trading for financial reporting purposes, it does not actively trade any of these securities with the intent of realizing gains and holds these investments indefinitely as management periodically evaluates its asset/liability and liquidity needs. Short-term money market investments with maturities of three months or less are acquired and classified as trading securities primarily for liquidity purposes. These short-term money market investments are periodically sold to meet the FHLBank’s cash flow needs. | ||||
Available-for-Sale: Securities that are not classified as trading or held-to-maturity are classified as available-for-sale and are carried at fair value. The change in fair value of available-for-sale securities is recorded in other comprehensive income (loss) (OCI) as net unrealized gains (losses) on available-for-sale securities. | ||||
Held-to-Maturity: Securities that the FHLBank has both the ability and intent to hold to maturity are classified as held-to-maturity and are carried at cost, adjusted for periodic principal repayments, amortization of premiums, accretion of discounts and OTTI recognized in net income and OCI. | ||||
The FHLBank may change its intent to hold to maturity a held-to-maturity investment without changing its intent to hold to maturity other held-to-maturity investments for the following circumstances: (1) evidence of a significant deterioration in the issuer’s creditworthiness; (2) a change in statutory or regulatory requirements significantly modifying either what constitutes a permissible investment or the maximum level of investments in certain kinds of investments, thereby causing the FHLBank to dispose of a held-to-maturity investment; (3) a significant increase by a regulator in the FHLBank’s capital requirements that causes the FHLBank to downsize by selling held-to-maturity investments; or (4) a significant increase in the risk weights of debt securities used for regulatory risk-based capital purposes. The FHLBank considers the following situations maturities for purposes of assessing ability and intent to hold to maturity: (1) the sale of the security is near enough to maturity (or call date if exercise of the call is probable) that interest rate risk is substantially eliminated as a pricing factor and the changes in market interest rates would not have a significant effect on the security’s fair value; or (2) the sale of a security occurs after the FHLBank has already collected a substantial portion (at least 85 percent) of the principal outstanding at acquisition either due to prepayments on the debt security or to scheduled payments on a debt security payable in equal installments (both principal and interest) over its term. | ||||
Premiums and Discounts: The FHLBank computes the amortization of purchased premiums and accretion of purchased discounts on mortgage-backed securities (MBS) using the level-yield method over the estimated cash flows of the securities. This method requires a retrospective adjustment of the effective yield each time the FHLBank receives a principal repayment or changes the estimated remaining cash flows as if the actual principal repayments and new estimated cash flows had been known since the original acquisition dates of the securities. The FHLBank uses nationally recognized, market-based third-party prepayment models to estimate future cash flows. The FHLBank computes the amortization of premiums and accretion of discounts on other investments using the level-yield method to the contractual maturities of the securities. | ||||
Gains and Losses on Sales: Gains and losses on the sales of investment securities are computed using the specific identification method and are included in other income (loss). | ||||
Investment Securities – Other-than-temporary Impairment: The FHLBank evaluates its individual held-to-maturity investment securities holdings in an unrealized loss position for OTTI at least quarterly, or more frequently if events or changes in circumstances indicate that these investments may be other-than-temporarily impaired. An investment is considered impaired when its fair value is less than its amortized cost basis. The FHLBank considers an OTTI to have occurred under any of the following circumstances: | ||||
§ | The FHLBank has the intent to sell the impaired debt security; | |||
§ | The FHLBank believes, based on available evidence, it is more likely than not that it will be required to sell the debt security before the recovery of its amortized cost basis; or | |||
§ | The FHLBank does not expect to recover the entire amortized cost basis of the impaired debt security. | |||
Recognition of OTTI: If either of the first two conditions above is met, the FHLBank recognizes an OTTI charge in earnings equal to the entire difference between the security’s amortized cost basis and its fair value as of the Statement of Condition date. For securities in an unrealized loss position that meet neither of the first two conditions, the entire loss position, or total OTTI, is evaluated to determine the extent and amount of credit loss. | ||||
To determine whether a credit loss exists, the FHLBank performs an analysis, which includes a cash flow analysis for private-label MBS/ABS, to determine if it will recover the entire amortized cost basis of each of these securities. The present value of the cash flows expected to be collected is compared to the amortized cost basis of the security to determine if a credit loss exists. If there is a credit loss, the carrying value of the security is adjusted to its fair value. However, rather than recognizing the entire difference between the amortized cost basis and the fair value in earnings, only the amount of the impairment representing the credit loss (i.e., the credit component) is recognized in earnings, while the amount related to all other factors (i.e., the non-credit component) is recognized in Accumulated OCI (AOCI), which is a component of capital. The credit loss on a debt security is limited to the amount of that security’s unrealized losses. | ||||
The total OTTI is presented in the Statements of Income with an offset for the amount of the non-credit potion of OTTI that is recognized in AOCI. The remaining amount in the Statements of Income represents the credit loss for the period. | ||||
Accounting for OTTI Recognized in AOCI: For subsequent accounting of other-than-temporarily impaired securities, the FHLBank records an additional OTTI if the present value of cash flows expected to be collected is less than the amortized cost basis. The total amount of this additional OTTI is determined as the difference between its carrying amount prior to the determination of this additional OTTI and its fair value. Additional credit losses related to previously other-than-temporarily impaired securities are reclassified out of AOCI into the Statements of Income, but only to the extent of a security’s unrealized losses (i.e., difference between the security’s amortized cost and its fair value). The OTTI recognized in AOCI is accreted to the carrying value of each security on a prospective basis, based on the amount and timing of future estimated cash flows (with no effect on earnings unless the security is subsequently sold or there are additional decreases in cash flows expected to be collected). | ||||
Interest Income Recognition: The FHLBank recognizes subsequent interest income in accordance with the method described in accounting guidance for beneficial interests in securitized financial assets. As of the impairment measurement date, a new accretable yield is calculated for the impaired investment security. This adjusted yield is used to calculate the amount to be recognized into income over the remaining life of the security so as to match the amount and timing of future cash flows expected to be collected. Subsequent changes in estimated cash flows change the accretable yield on a prospective basis. The estimated cash flows and accretable yield are re-evaluated on a quarterly basis. | ||||
Advances: The FHLBank presents advances (secured loans to members, former members or housing associates) net of unearned commitment fees, premiums, discounts and fair value basis adjustments. The FHLBank amortizes the premiums and accretes the discounts on advances to interest income using the level-yield method. The FHLBank records interest on advances to interest income as earned. | ||||
Advance Modifications: In cases in which the FHLBank funds a new advance concurrently with or within a short period of time before or after the prepayment of an existing advance, the FHLBank evaluates whether the new advance meets the accounting criteria to qualify as a modification of an existing advance or whether it constitutes a new advance. The FHLBank compares the present value of cash flows on the new advance to the present value of cash flows remaining on the existing advance. If there is at least a 10 percent difference in the cash flows or if the FHLBank concludes the differences between the advances are more than minor based on qualitative factors, the advance is accounted for as a new advance. In all other instances, the new advance is accounted for as a modification. | ||||
Prepayment Fees: The FHLBank charges prepayment fees to its borrowers when certain advances are repaid before their original maturities. The FHLBank records prepayment fees net of hedging fair value basis adjustments included in the carrying value of the advance, as “Prepayment fees on terminated advances” in the interest income section of its Statements of Income. | ||||
If a new advance does not qualify as a modification of an existing advance, it is treated as an advance termination and any prepayment fee, net of hedging adjustments, is recorded to “Prepayment fees on terminated advances” in the interest income section of the Statements of Income. | ||||
If the new advance qualifies as a modification, the net prepayment fee received on the prepaid advance is deferred as a discount and included in the basis of the modified advance. The basis adjustment is amortized over the life of the modified advance to advance interest income. If the modified advance is hedged, the fair value gain or loss on the advance and the prepayment fee are included in the carrying amount of the modified advance, and any prior gains or losses and prepayment fees are amortized to interest income over the life of the modified advance using the level-yield method. Modified hedged advances are marked to benchmark fair value after the modification, and subsequent fair value changes are recorded in “Net gain (loss) on derivatives and hedging activities” in other income (loss). | ||||
Mortgage Loans Held for Portfolio: The FHLBank carries mortgage loans classified as held for investment at their principal amount outstanding, net of unamortized premiums, unaccreted discounts, deferred loan fees associated with table funded loans, hedging adjustments, unrealized gains and losses from mortgage purchase commitments and other fees. The FHLBank has the intent and ability to hold these mortgage loans to maturity. | ||||
Premiums and Discounts: The FHLBank defers and amortizes/accretes mortgage loan origination fees (agent fees) and premiums and discounts paid to and received from participating financial institutions (PFI) as interest income using the contractual method. The contractual method uses the cash flows required by the loan contracts, as adjusted for actual prepayments, to apply the interest method. The contractual method does not utilize estimates of future prepayments of principal. | ||||
Credit Enhancement Fees: The credit enhancement (CE) obligation is an obligation on the part of the PFI that ensures the retention of credit risk on loans it originates on behalf of or sells to the FHLBank. The amount of the CE obligation is determined at the time of purchase so that any losses in excess of the CE obligation for each pool of mortgage loans purchased approximate those experienced by an investor in a double-A rated MBS. As a part of our methodology to determine the amount of credit enhancement necessary, we analyze the risk characteristics of each mortgage loan using a model licensed from a Nationally Recognized Statistical Rating Organization (NRSRO). We use the model to evaluate loan data provided by the PFI as well as other relevant information. | ||||
The FHLBank pays the PFI a CE fee for managing this portion of the credit risk in the pool of loans. CE fees are paid monthly based on the remaining unpaid principal balance (UPB) of the loans in a master commitment. The required CE obligation amount may vary depending on the various product alternatives selected by the PFI. CE fees are recorded as an offset to mortgage loan interest income. To the extent the FHLBank experiences a loss in a master commitment, the FHLBank may be able to recapture future performance-based CE fees paid to the PFIs to offset these losses. | ||||
Mortgage Loan Participations: The FHLBank entered into an agreement with FHLBank of Indianapolis to sell participation interests in master commitments of FHLBank Topeka’s PFIs in mid-2012. The risk sharing and rights are allocated pro-ratably based upon each FHLBank’s percentage participation in the related master commitment. This agreement was in effect throughout 2013. | ||||
Other Fees: The FHLBank may receive other non-origination fees, such as delivery commitment extension fees and pair-off fees as part of the mark-to-market on derivatives to which they related or as part of the loan basis, as applicable. Delivery commitment extension fees are received when a PFI requires an extension of the delivery commitment period beyond the original stated expiration. These fees compensate the FHLBank for lost interest as a result of late funding and represent the member purchasing a derivative from the FHLBank. Pair-off fees are received from the PFI when the amount funded is more than or less than a specific percentage range of the delivery commitment amount. These fees compensate the FHLBank for hedge costs associated with the under-delivery or over-delivery. To the extent that pair off fees relate to under-deliveries of loans, they are included in the mark-to-market of the related delivery commitment derivative. If they relate to over-deliveries, they represent purchase price adjustments to the related loans acquired and are recorded as a part of the carrying value of the loan. | ||||
Allowance for Credit Losses: An allowance for credit losses is a valuation allowance separately established for each identified portfolio segment, if necessary, to provide for probable losses inherent in the FHLBank’s portfolios as of the Statement of Condition date. To the extent necessary, an allowance for credit losses for off-balance sheet credit exposures is recorded as a liability. See Note 7 for details on each allowance methodology. | ||||
Portfolio Segments: A portfolio segment is defined as the level at which an entity develops and documents a systematic methodology for determining its allowance for credit losses. The FHLBank has developed and documented a systematic methodology for determining an allowance for credit losses, where applicable, for: (1) credit products (advances, letters of credit and other extensions of credit to members); (2) government-guaranteed or insured mortgage loans held for portfolio; (3) conventional mortgage loans held for portfolio; (4) the direct financing lease receivable; (5) term Federal funds sold; and (6) term securities purchased under agreements to resell. | ||||
Classes of Finance Receivables: Classes of finance receivables generally are a disaggregation of a portfolio segment to the extent that it is needed to understand the exposure to credit risk arising from these financing receivables. The FHLBank has determined that no further disaggregation of portfolio segments identified previously is needed as the credit risk arising from these financing receivables is assessed and measured at the portfolio segment level. | ||||
Non-accrual Loans: The FHLBank places a conventional mortgage loan on non-accrual status if it is determined that either: (1) the collection of interest or principal is doubtful; or (2) interest or principal is past due for 90 days or more, except when the loan is well-secured (e.g., through credit enhancements) and in the process of collection. The FHLBank does not place government-guaranteed or insured mortgage loans on non-accrual status due to the U.S. government guarantee or insurance on these loans and the contractual obligation of the loan servicer to repurchase the loans when certain criteria are met. For those mortgage loans placed on non-accrual status, accrued but uncollected interest is reversed against interest income. The FHLBank records cash payments received on non-accrual loans first as interest income and then as a reduction of principal as specified in the contractual agreement, unless the collection of the remaining principal amount due is considered doubtful. If the collection of the remaining principal amount due is considered doubtful then cash payments received would be applied first solely to principal until the remaining principal amount due is expected to be collected and then as a recovery of any charge-off, if applicable, followed by recording interest income. A loan on non-accrual status may be restored to accrual when: (1) none of its contractual principal and interest is due and unpaid, and the FHLBank expects repayment of the remaining contractual principal and interest; or (2) it otherwise becomes well secured and in the process of collection. | ||||
Troubled Debt Restructuring: The FHLBank considers a troubled debt restructuring to have occurred when a concession is granted to a borrower for economic or legal reasons related to the borrower’s financial difficulties and that concession would not have been considered otherwise. Loans that are discharged in Chapter 7 bankruptcy and have not been reaffirmed by the borrowers are also considered to be troubled debt restructurings, except in cases where certain supplemental mortgage insurance policies are held or where all contractual amounts due are still expected to be collected as a result of certain credit enhancements or government guarantees. | ||||
Impairment Methodology: A loan is considered impaired when, based on current information and events, it is probable that the FHLBank will be unable to collect all amounts due according to the contractual terms of the loan agreement. | ||||
Loans that are on non-accrual status and that are considered collateral-dependent are measured for impairment based on the fair value of the underlying property less estimated selling costs. Loans are considered collateral-dependent if repayment is expected to be provided solely by the sale of the underlying property, that is, there is no other available and reliable source of repayment. Collateral-dependent loans are impaired if the fair value of the underlying collateral is insufficient to recover the unpaid balance on the loan. Interest income on impaired loans is recognized in the same manner as non-accrual loans. | ||||
Charge-off Policy: The FHLBank evaluates whether to record a charge-off on a conventional mortgage loan upon the occurrence of a confirming event. Confirming events include, but are not limited to, the occurrence of foreclosure or notification of a claim against any of the credit enhancements. A charge-off is recorded if the recorded investment in the loan will not be recovered. | ||||
Real Estate Owned: Real estate owned (REO) includes assets that have been received in satisfaction of debt through foreclosures. REO is recorded at the lower of cost or fair value less estimated selling costs. The FHLBank recognizes a charge-off to the allowance for credit losses if the fair value of the REO less estimated selling costs is less than the recorded investment in the loan at the date of transfer from loans to REO. Any subsequent realized gains, realized or unrealized losses and carrying costs are included in other expense in the Statements of Income. REO is recorded in other assets in the Statements of Condition. | ||||
Derivatives: All derivatives are recognized on the Statements of Condition at their fair value and are reported as either derivative assets or derivative liabilities, net of cash collateral, including initial and variation margin, and accrued interest received or pledged by clearing agents and/or counterparties. The fair values of derivatives are netted by clearing agent or counterparty when the netting requirements have been met. If these netted amounts are positives, they are classified as an asset and, if negative, they are classified as a liability. Cash flows associated with derivatives are reflected as cash flows from operating activities in the Statements of Cash Flows unless the derivative meets the criteria to be a financing derivative. | ||||
Derivative Designations: Each derivative is designated as one of the following: | ||||
§ | a qualifying fair value hedge of the change in fair value of: (1) a recognized asset or liability; or (2) an unrecognized firm commitment; | |||
§ | a qualifying cash flow hedge of: (1) a forecasted transaction; or (2) the variability of cash flows that are to be received or paid in connection with a recognized asset or liability; | |||
§ | a non-qualifying hedge of an asset or liability (an economic hedge) for asset/liability management purposes; or | |||
§ | a non-qualifying hedge of another derivative (an intermediary hedge) that is offered as a product to members. | |||
Accounting for Qualifying Hedges: If hedging relationships meet certain criteria, including, but not limited to, formal documentation of the hedging relationship and an expectation to be highly effective, they qualify for hedge accounting and the offsetting changes in fair value of the hedged items may be recorded in earnings (fair value hedges) or AOCI (cash flow hedges). Two approaches to hedge accounting include: | ||||
§ | Long haul hedge accounting – The application of long haul hedge accounting generally requires the FHLBank to formally assess (both at the hedge's inception and at least quarterly) whether the derivatives that are used in hedging transactions have been effective in offsetting changes in the fair value or cash flows of hedged items or forecasted transactions and whether those derivatives may be expected to remain effective in future periods. | |||
§ | Shortcut hedge accounting – Transactions that meet more stringent criteria qualify for the shortcut method of hedge accounting in which an assumption can be made that the change in fair value of a hedged item, due to changes in the benchmark rate, exactly offsets the change in fair value of the related derivative. Under the shortcut method, the entire change in fair value of the interest rate swap is considered to be effective at achieving offsetting changes in fair values or cash flows of the hedged asset or liability. The FHLBank discontinued using shortcut hedge accounting for all derivative transactions entered into on or after July 1, 2008. | |||
Derivatives are typically executed at the same time as the hedged item, and the FHLBank designates the hedged item in a qualifying hedge relationship at the trade date. In many hedging relationships, the FHLBank may designate the hedging relationship upon its commitment to disburse an advance or trade a consolidated obligation in which settlement occurs within the shortest period of time possible for the type of instrument based on market settlement conventions. The FHLBank defines market settlement conventions for advances to be five business days or less and for consolidated obligations to be thirty calendar days or less, using a next business day convention. The FHLBank then records the changes in fair value of the derivative and the hedged item beginning on the trade date. | ||||
Changes in the fair value of a derivative that is designated and qualifies as a fair value hedge, along with changes in the fair value of the hedged asset or liability that are attributable to the hedged risk (including changes that reflect losses or gains on firm commitments), are recorded in current period earnings. Changes in the fair value of a derivative that is designated and qualifies as a cash flow hedge, to the extent that the hedge is effective, are recorded in AOCI, a component of capital, until earnings are affected by the variability of the cash flows of the hedged transaction (i.e., until the recognition of interest on a variable rate asset or liability is recorded in earnings). For both fair value and cash flow hedges, any hedge ineffectiveness (which represents the amount by which the change in the fair value of the derivative differs from the change in fair value of the hedged item or the variability in the cash flows of the forecasted transaction) is recorded in current period earnings. | ||||
Accounting for Non-Qualifying Hedges: An economic hedge is defined as a derivative hedging specific or non-specific underlying assets, liabilities or firm commitments that does not qualify for hedge accounting but is an acceptable hedging strategy under the FHLBank’s RMP. These economic hedging strategies also comply with Finance Agency regulatory requirements prohibiting speculative derivative transactions. An economic hedge by definition introduces the potential for earnings variability caused by changes in fair value on the derivatives that are recorded in the FHLBank’s income but not offset by corresponding changes in the fair value of the economically hedged assets, liabilities or firm commitments being recorded simultaneously in income. As a result, the FHLBank recognizes only the net interest and the change in fair value of these derivatives in other income (loss) as “Net gain (loss) on derivatives and hedging activities” with no offsetting fair value adjustments for the assets, liabilities or firm commitments. | ||||
The derivatives used in intermediary activities do not qualify for hedge accounting treatment and are separately marked-to-market through earnings. The net result of the accounting for these derivatives does not significantly affect the operating results of the FHLBank. These amounts are recorded in other income (loss) as “Net gains (losses) on derivatives and hedging activities.” | ||||
Accrued Interest Receivables and Payables: The differentials between accruals of interest receivables and payables on derivatives designated as fair value or cash flow hedges are recognized as adjustments to the interest income or expense of the designated underlying investment securities, advances, consolidated obligations or other financial instruments, thereby affecting the reported amount of net interest income on the Statements of Income. Changes in the fair value of an economic or intermediary hedge are recorded in current period earnings. The differentials between accruals of interest receivables and payables on intermediated derivatives for members and other economic hedges are recognized as other income (loss). Therefore, both the net interest on the stand-alone derivatives and the fair value changes are recorded in other income (loss) as “Net gain (loss) on derivatives and hedging activities.” | ||||
Discontinuance of Hedge Accounting: The FHLBank discontinues hedge accounting prospectively when: (1) it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of a hedged item (including hedged items such as firm commitments or forecasted transactions); (2) the derivative and/or the hedged item expires or is sold, terminated or exercised; (3) it is no longer probable that the forecasted transaction will occur in the originally expected period; (4) a hedged firm commitment no longer meets the definition of a firm commitment; or (5) management determines that designating the derivative as a hedging instrument is no longer appropriate. | ||||
When hedge accounting is discontinued because the FHLBank determines that the derivative no longer qualifies as an effective fair value hedge of an existing hedged item, the FHLBank continues to carry the derivative on its Statements of Condition at fair value, ceases to adjust the hedged asset or liability for changes in fair value, and begins amortizing the cumulative basis adjustment on the hedged item into earnings over the remaining life of the hedged item using the level-yield method. When hedge accounting is discontinued because the FHLBank determines that the derivative no longer qualifies as an effective cash flow hedge of an existing hedged item, the FHLBank continues to carry the derivative on its Statements of Condition at fair value and amortizes the cumulative OCI adjustment to earnings when earnings are affected by the original forecasted transaction. In all situations in which hedge accounting is discontinued and the derivative remains outstanding, the FHLBank carries the derivative at fair value on its Statements of Condition, recognizing changes in the fair value of the derivative in current-period earnings. When the FHLBank discontinues hedge accounting because it is probable that a forecasted transaction will not occur by the end of the originally specified time period or within an additional two-month period of time thereafter, the gains and losses in AOCI will be recognized immediately in earnings. When hedge accounting is discontinued because the hedged item no longer meets the definition of a firm commitment, the FHLBank continues to carry the derivative on its Statements of Condition at fair value, removing any asset or liability that was recorded to recognize the firm commitment and recording it as a gain or loss in current period earnings. | ||||
Embedded Derivatives: The FHLBanks may issue debt, make advances, or purchase financial instruments in which a derivative instrument is embedded. Upon execution of these transactions, the FHLBank assesses whether the economic characteristics of the embedded derivative are clearly and closely related to the economic characteristics of the remaining component of the advance, debt or purchased financial instrument (the host contract) and whether a separate, non-embedded instrument with the same terms as the embedded instrument would meet the definition of a derivative instrument. When the FHLBank determines that: (1) the embedded derivative has economic characteristics that are not clearly and closely related to the economic characteristics of the host contract; and (2) a separate, stand-alone instrument with the same terms would qualify as a derivative instrument, the embedded derivative is separated from the host contract, carried at fair value, and designated as a stand-alone derivative instrument pursuant to an economic hedge. However, if the entire contract (the host contract and the embedded derivative) is to be measured at fair value, with changes in fair value reported in current period earnings (such as an investment security classified as trading), or if the FHLBank cannot reliably identify and measure the embedded derivative for purposes of separating that derivative from its host contract, the entire contract is carried on the Statements of Condition at fair value and no portion of the contract is designated as a hedging instrument. | ||||
Premises, Software and Equipment: The FHLBank records premises, software, and equipment at cost less accumulated depreciation and amortization. Depreciation is computed on the straight-line method over the estimated useful lives of the assets ranging from 3 to 20 years. Leasehold improvements are amortized on the straight-line basis over the shorter of the estimated useful life of the improvement or the remaining term of the lease. Improvements and major renewals are capitalized, and ordinary maintenance and repairs are expensed as incurred. As of December 31, 2013 and 2012, the accumulated depreciation and amortization related to premises, software and equipment was $25,774,000 and $24,187,000, respectively. Depreciation and amortization expense was $1,943,000, $2,152,000 and $2,866,000 for the years ended years ended December 31, 2013, 2012, and 2011, respectively. Gains and losses on disposals are included in other income (loss). The net realized gain (loss) on disposal of premises, software and equipment was $17,000, $(1,951,000), and $6,000 for the years ended years ended December 31, 2013, 2012, and 2011, respectively. The loss on disposal of premises, software and equipment for 2012 includes the write-off of two software projects prior to implementation. | ||||
The cost of purchased software and certain costs incurred in developing computer software for internal use is capitalized and amortized over future periods. Amortization is computed on the straight-line method over three years for purchased software and five years for developed software. As of December 31, 2013 and 2012, the FHLBank had $2,235,000 and $1,309,000, respectively, in unamortized computer software costs included in premises, software and equipment on its Statements of Condition. Amortization of computer software costs charged to expense was $651,000, $764,000 and $1,378,000 for the years ended years ended December 31, 2013, 2012, and 2011, respectively. | ||||
Consolidated Obligations: Consolidated obligations are recorded at amortized cost. | ||||
Discounts and Premiums: Consolidated obligation discounts are accreted and premiums are amortized to interest expense using a level-yield methodology over the contractual maturities of the corresponding debt. | ||||
Concessions: Amounts paid to dealers in connection with sales of consolidated obligations are deferred and amortized using the level-yield method over the contractual terms of the consolidated obligations. Concession amounts are prorated to the FHLBank by the Office of Finance based on the percentage of each consolidated obligation issued by the Office of Finance on behalf of the FHLBank. Unamortized concessions are included in “Other assets” and the amortization of those concessions is included in consolidated obligation interest expense. | ||||
Mandatorily Redeemable Capital Stock: The FHLBank reclassifies all stock subject to redemption from capital to liability once a member submits a written redemption request, gives notice of intent to withdraw from membership, or attains non-member status by merger or acquisition, charter termination or involuntary termination from membership, since the member shares will then meet the definition of a mandatorily redeemable financial instrument. There is no distinction as to treatment for reclassification from capital to liability between in-district redemption requests and those redemption requests triggered by out-of-district acquisitions. The FHLBank does not take into consideration its members’ right to cancel a redemption request in determining when shares of capital stock should be classified as a liability because the cancellation would be subject to a substantial cancellation fee. Member and non-member shares meeting the definition of mandatorily redeemable capital stock are reclassified to a liability at fair value, which has been determined to be par value ($100) plus any estimated accrued but unpaid dividends. The FHLBank’s dividends are declared and paid at each quarter-end; therefore, the fair value reclassified equals par value. Dividends declared on member shares for the time after classification as a liability are accrued at the expected dividend rate and reflected as interest expense in the Statements of Income. The repurchase of these mandatorily redeemable financial instruments by the FHLBank are reflected as financing cash outflows in the Statements of Cash Flows once settled. | ||||
If a member submits a written request to cancel a previously submitted written redemption request, the capital stock covered by the written cancellation request is reclassified from a liability to capital at fair value. After the reclassification, dividends on the capital stock are no longer classified as interest expense. | ||||
Restricted Retained Earnings: In 2011, the FHLBank entered into a Joint Capital Enhancement Agreement, as amended (JCE Agreement). Under the JCE Agreement, beginning in the third quarter of 2011, the FHLBank allocates 20 percent of its quarterly net income to a separate restricted retained earnings (RRE) account until the account balance equals at least 1 percent of its average balance of outstanding consolidated obligations for the previous quarter. These restricted retained earnings are not available to pay dividends and are presented separately on the Statements of Condition. | ||||
Finance Agency Expenses: A portion of the Finance Agency’s expenses and working capital fund are allocated among the FHLBanks based on the pro rata share of the annual assessments based on the ratio between each FHLBank’s minimum required regulatory capital and the aggregate minimum required regulatory capital of every FHLBank. | ||||
Office of Finance Expenses: Each FHLBank’s proportionate share of Office of Finance operating and capital expenditures is calculated using a formula that is based upon the following components: (1) two-thirds based upon each FHLBank’s share of total consolidated obligations outstanding; and (2) one-third based upon an equal pro rata allocation. | ||||
Assessments: | ||||
Affordable Housing Program (AHP): The FHLBank is required to establish, fund and administer an AHP. The AHP funds provide subsidies to members to assist in the purchase, construction or rehabilitation of housing for very low-, low- and moderate-income households. The required annual AHP funding is charged to earnings, and an offsetting liability is established. | ||||
Resolution Funding Corporation (REFCORP): Although the FHLBank is exempt from all federal, state and local taxation except for real property taxes, it was required to make quarterly payments to REFCORP through the second quarter of 2011, after which the obligation was satisfied. These payments represented a portion of the interest on bonds issued by REFCORP. REFCORP is a government corporation established by Congress in 1989 that provided funding for the resolution and disposition of insolvent savings institutions. Officers, employees and agents of the Office of Finance are authorized to act for and on behalf of REFCORP to carry out the functions of REFCORP. | ||||
Recently_Issued_Accounting_Sta
Recently Issued Accounting Standards And Interpretations And Changes In And Adoptions Of Accounting Principles | 12 Months Ended |
Dec. 31, 2013 | |
Recently Issued Accounting Standards And Interpretations And Changes In And Adoptions Of Accounting Principles [Abstract] | ' |
Recently Issued Accounting Standards And Interpretations And Changes In And Adoptions Of Accounting Principles | ' |
NOTE 2 – RECENTLY ISSUED ACCOUNTING STANDARDS AND INTERPRETATIONS AND CHANGES IN AND ADOPTIONS OF ACCOUNTING PRINCIPLES | |
Receivables - Troubled Debt Restructurings by Creditors. In January 2014, the Financial Accounting Standards Board (FASB) issued amendments intended to clarify when a creditor should be considered to have received physical possession of the residential real estate property collateralizing a consumer mortgage loan. These amendments clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, when either: (a) the creditor obtains legal title to the residential real estate property upon completion of a foreclosure; or (b) the borrower conveys all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The amendments are effective for interim and annual periods beginning after December 15, 2014 (January 1, 2015 for the FHLBank). Early adoption is permitted. The guidance may be adopted using a modified retrospective transition method or a prospective transition method. The adoption of this amendment is not expected to a have a material impact on the FHLBank's financial condition, results of operations, or cash flows. | |
Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes. In July 2013, the FASB issued an amendment which allows the overnight Fed Funds Effective Swap Rate (OIS) to be used as a U.S. benchmark rate for hedge accounting purposes. Previously, only U.S. Treasury rates (UST) and the London Interbank Offered Rate (LIBOR) swap rate were allowable benchmark rates. The amended guidance also removes the restriction on using different benchmark rates for similar hedges. The amendments apply to all entities that elect to apply hedge accounting of the benchmark interest rate. The amendments were effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of this guidance did not materially impact the FHLBank’s financial condition, results of operations or cash flows, or any of the FHLBank’s hedging strategies. | |
Joint and Several Liability: In February 2013, the FASB issued guidance for the recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date. This guidance requires an entity to measure these obligations as the sum of: (1) the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors; and (2) any additional amount the reporting entity expects to pay on behalf of its co-obligors. In addition, this guidance requires an entity to disclose the nature and amount of the obligation as well as other information about these obligations. This guidance is effective for interim and annual periods beginning on or after December 15, 2013 (January 1, 2014 for the FHLBank) and should be applied retrospectively to obligations with joint and several liabilities existing at the beginning of an entity’s fiscal year of adoption. The FHLBank does not expect this new guidance to have a material effect on its financial condition, results of operations or cash flows. | |
Comprehensive Income – Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income: In February 2013, the FASB issued guidance which requires entities to provide information about significant reclassifications of items out of accumulated other comprehensive income (AOCI) by component. Entities are required to report the effect of significant reclassifications out of AOCI on the respective line items in net income if the amount being reclassified is required under GAAP to be reclassified in its entirety. For other amounts not required to be reclassified in their entirety, the entity is required to cross-reference to other disclosures that provide additional detail about these amounts. This guidance was effective prospectively for the FHLBank for interim and annual periods beginning on January 1, 2013. The adoption of this guidance resulted in increased financial statement disclosures, but did not impact the FHLBank’s financial condition, results of operations or cash flows. | |
Offsetting Assets and Liabilities: In December 2011, the FASB and the International Accounting Standards Board (IASB) issued common disclosure requirements intended to help investors and other financial statement users better assess the effect or potential effect of offsetting arrangements on an entity’s financial position, regardless of whether an entity’s financial statements are prepared on the basis of GAAP or International Financial Reporting Standards (IFRS). This guidance requires the FHLBank to disclose both gross and net information about financial instruments, including derivative instruments, repurchase agreements and securities purchased under agreements to resell, which are either offset on its Statements of Condition or subject to an enforceable master netting arrangement or similar agreement. This guidance was effective for the FHLBank for interim and annual periods beginning on January 1, 2013 and was applied retrospectively for all comparative periods presented. The FHLBank adopted the guidance as of January 1, 2013. The adoption of this guidance resulted in increased financial statement disclosures, but did not affect the FHLBank’s financial condition, results of operations or cash flows. | |
Cash_and_Due_From_Banks
Cash and Due From Banks | 12 Months Ended |
Dec. 31, 2013 | |
Cash and Due from Banks [Abstract] | ' |
Cash and Due From Banks | ' |
NOTE 3 – CASH AND DUE FROM BANKS | |
Balances represent non-interest bearing deposits in banks. | |
Pass-through Deposit Reserves: The FHLBank acts as a pass-through correspondent for members required to deposit reserves with the Federal Reserve Banks (FRB). The amount shown as cash and due from banks includes $1,357,000 and $360,000 of reserve deposits with the FRB as of December 31, 2013 and 2012, respectively. | |
Investment_Securities
Investment Securities | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Investment Securities [Abstract] | ' | |||||||||||||||||||||
Investment Securities | ' | |||||||||||||||||||||
NOTE 4 – INVESTMENT SECURITIES | ||||||||||||||||||||||
Major Security Types: Trading and held-to-maturity securities as of December 31, 2013 are summarized in Table 4.1 (in thousands): | ||||||||||||||||||||||
Table 4.1 | ||||||||||||||||||||||
12/31/13 | ||||||||||||||||||||||
Trading | Held-to-maturity | |||||||||||||||||||||
Fair | Carrying | OTTI | Amortized | Gross | Gross | Fair | ||||||||||||||||
Value | Value | Recognized | Cost | Unrecognized | Unrecognized | Value | ||||||||||||||||
in OCI | Gains | Losses | ||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
Certificates of deposit | $ | 260,009 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||
U.S. Treasury obligations | 25,012 | - | - | - | - | - | - | |||||||||||||||
Government-sponsored enterprise obligations1,2 | 2,247,966 | - | - | - | - | - | - | |||||||||||||||
State or local housing agency obligations | - | 63,472 | - | 63,472 | 19 | 8,619 | 54,872 | |||||||||||||||
Non-mortgage-backed securities | 2,532,987 | 63,472 | - | 63,472 | 19 | 8,619 | 54,872 | |||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||
U.S. obligation residential3 | 1,090 | 68,977 | - | 68,977 | 217 | 14 | 69,180 | |||||||||||||||
Government-sponsored enterprise residential4 | 170,700 | 4,974,649 | - | 4,974,649 | 21,744 | 27,108 | 4,969,285 | |||||||||||||||
Private-label mortgage-backed securities: | ||||||||||||||||||||||
Residential loans | - | 315,333 | 15,825 | 331,158 | 2,304 | 14,361 | 319,101 | |||||||||||||||
Home equity loans | - | 1,228 | 178 | 1,406 | 1,361 | - | 2,767 | |||||||||||||||
Mortgage-backed securities | 171,790 | 5,360,187 | 16,003 | 5,376,190 | 25,626 | 41,483 | 5,360,333 | |||||||||||||||
TOTAL | $ | 2,704,777 | $ | 5,423,659 | $ | 16,003 | $ | 5,439,662 | $ | 25,645 | $ | 50,102 | $ | 5,415,205 | ||||||||
1Represents debentures issued by other FHLBanks, Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac), Federal Farm Credit Bank (Farm Credit), and Federal Agricultural Mortgage Corporation (Farmer Mac). GSE securities are not guaranteed by the U.S. government. Fannie Mae and Freddie Mac were placed into conservatorship by the Finance Agency on September 7, 2008 with the Finance Agency named as conservator. | ||||||||||||||||||||||
2See Note 20 for transactions with other FHLBanks. | ||||||||||||||||||||||
3Represents MBS issued by Government National Mortgage Association (Ginnie Mae), which are guaranteed by the U.S. government. | ||||||||||||||||||||||
4Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | ||||||||||||||||||||||
Trading and held-to-maturity securities as of December 31, 2012 are summarized in Table 4.2 (in thousands): | ||||||||||||||||||||||
Table 4.2 | ||||||||||||||||||||||
12/31/12 | ||||||||||||||||||||||
Trading | Held-to-maturity | |||||||||||||||||||||
Fair | Carrying | OTTI | Amortized | Gross | Gross | Fair | ||||||||||||||||
Value | Value | Recognized | Cost | Unrecognized | Unrecognized | Value | ||||||||||||||||
in OCI | Gains | Losses | ||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
Commercial paper | $ | 59,996 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||
Certificates of deposit | 325,006 | - | - | - | - | - | - | |||||||||||||||
Government-sponsored enterprise obligations1,2 | 2,126,327 | - | - | - | - | - | - | |||||||||||||||
State or local housing agency obligations | - | 69,442 | - | 69,442 | 170 | 8,686 | 60,926 | |||||||||||||||
Non-mortgage-backed securities | 2,511,329 | 69,442 | - | 69,442 | 170 | 8,686 | 60,926 | |||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||
U.S obligation residential3 | 1,277 | 85,484 | - | 85,484 | 650 | - | 86,134 | |||||||||||||||
Government-sponsored enterprise residential4 | 252,312 | 4,509,121 | - | 4,509,121 | 39,571 | 1,034 | 4,547,658 | |||||||||||||||
Private-label mortgage-backed securities: | ||||||||||||||||||||||
Residential loans | - | 494,631 | 20,649 | 515,280 | 5,433 | 25,522 | 495,191 | |||||||||||||||
Home equity loans | - | 1,072 | 197 | 1,269 | 1,155 | 3 | 2,421 | |||||||||||||||
Mortgage-backed securities | 253,589 | 5,090,308 | 20,846 | 5,111,154 | 46,809 | 26,559 | 5,131,404 | |||||||||||||||
TOTAL | $ | 2,764,918 | $ | 5,159,750 | $ | 20,846 | $ | 5,180,596 | $ | 46,979 | $ | 35,245 | $ | 5,192,330 | ||||||||
1Represents debentures issued by other FHLBanks, Fannie Mae, Freddie Mac, Farm Credit, and Farmer Mac. GSE securities are not guaranteed by the U.S. government. Fannie Mae and Freddie Mac were placed into conservatorship by the Finance Agency on September 7, 2008 with the Finance Agency named as conservator. | ||||||||||||||||||||||
2See Note 20 for transactions with other FHLBanks. | ||||||||||||||||||||||
3Represents MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | ||||||||||||||||||||||
4Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | ||||||||||||||||||||||
Table 4.3 summarizes (in thousands) the held-to-maturity securities with unrecognized losses as of December 31, 2013. The unrecognized losses are aggregated by major security type and length of time that individual securities have been in a continuous unrecognized loss position. | ||||||||||||||||||||||
Table 4.3 | ||||||||||||||||||||||
12/31/13 | ||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||
Fair | Unrecognized | Fair | Unrecognized | Fair | Unrecognized | |||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
State or local housing agency obligations | $ | 6,660 | $ | 367 | $ | 38,743 | $ | 8,252 | $ | 45,403 | $ | 8,619 | ||||||||||
Non-mortgage-backed securities | 6,660 | 367 | 38,743 | 8,252 | 45,403 | 8,619 | ||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||
U.S. obligation residential1 | 25,814 | 14 | - | - | 25,814 | 14 | ||||||||||||||||
Government-sponsored enterprise residential2 | 2,099,923 | 16,699 | 384,530 | 10,409 | 2,484,453 | 27,108 | ||||||||||||||||
Private-label mortgage-backed securities: | ||||||||||||||||||||||
Residential loans | 21,053 | 109 | 175,474 | 14,252 | 196,527 | 14,361 | ||||||||||||||||
Mortgage-backed securities | 2,146,790 | 16,822 | 560,004 | 24,661 | 2,706,794 | 41,483 | ||||||||||||||||
TOTAL TEMPORARILY IMPAIRED SECURITIES | $ | 2,153,450 | $ | 17,189 | $ | 598,747 | $ | 32,913 | $ | 2,752,197 | $ | 50,102 | ||||||||||
__________ | ||||||||||||||||||||||
1Represents MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | ||||||||||||||||||||||
2Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | ||||||||||||||||||||||
Table 4.4 summarizes (in thousands) the held-to-maturity securities with unrecognized losses as of December 31, 2012. The unrecognized losses are aggregated by major security type and length of time that individual securities have been in a continuous unrecognized loss position. | ||||||||||||||||||||||
Table 4.4 | ||||||||||||||||||||||
12/31/12 | ||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||
Fair | Unrecognized | Fair | Unrecognized | Fair | Unrecognized | |||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
State or local housing agency obligations | $ | - | $ | - | $ | 40,719 | $ | 8,686 | $ | 40,719 | $ | 8,686 | ||||||||||
Non-mortgage-backed securities | - | - | 40,719 | 8,686 | 40,719 | 8,686 | ||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||
Government-sponsored enterprise residential1 | 338,126 | 829 | 126,814 | 205 | 464,940 | 1,034 | ||||||||||||||||
Private-label mortgage-backed securities: | ||||||||||||||||||||||
Residential loans | 5,830 | 8 | 246,641 | 25,514 | 252,471 | 25,522 | ||||||||||||||||
Home equity loans | - | - | 53 | 3 | 53 | 3 | ||||||||||||||||
Mortgage-backed securities | 343,956 | 837 | 373,508 | 25,722 | 717,464 | 26,559 | ||||||||||||||||
TOTAL TEMPORARILY IMPAIRED SECURITIES | $ | 343,956 | $ | 837 | $ | 414,227 | $ | 34,408 | $ | 758,183 | $ | 35,245 | ||||||||||
__________ | ||||||||||||||||||||||
1Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | ||||||||||||||||||||||
Redemption Terms: The amortized cost, carrying value and fair values of held-to-maturity securities by contractual maturity as of December 31, 2013 and 2012 are shown in Table 4.5 (in thousands). Expected maturities of certain securities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. | ||||||||||||||||||||||
Table 4.5 | ||||||||||||||||||||||
12/31/13 | 12/31/12 | |||||||||||||||||||||
Amortized | Carrying | Fair | Amortized | Carrying | Fair | |||||||||||||||||
Cost | Value | Value | Cost | Value | Value | |||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
Due in one year or less | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Due after one year through five years | - | - | - | - | - | - | ||||||||||||||||
Due after five years through 10 years | 21,240 | 21,240 | 19,582 | 22,780 | 22,780 | 20,741 | ||||||||||||||||
Due after 10 years | 42,232 | 42,232 | 35,290 | 46,662 | 46,662 | 40,185 | ||||||||||||||||
Non-mortgage-backed securities | 63,472 | 63,472 | 54,872 | 69,442 | 69,442 | 60,926 | ||||||||||||||||
Mortgage-backed securities | 5,376,190 | 5,360,187 | 5,360,333 | 5,111,154 | 5,090,308 | 5,131,404 | ||||||||||||||||
TOTAL | $ | 5,439,662 | $ | 5,423,659 | $ | 5,415,205 | $ | 5,180,596 | $ | 5,159,750 | $ | 5,192,330 | ||||||||||
Interest Rate Payment Terms: Table 4.6 details interest rate payment terms for the amortized cost of held-to-maturity securities as of December 31, 2013 and 2012 (in thousands): | ||||||||||||||||||||||
Table 4.6 | ||||||||||||||||||||||
12/31/13 | 12/31/12 | |||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
Fixed rate | $ | 12,232 | $ | 16,662 | ||||||||||||||||||
Variable rate | 51,240 | 52,780 | ||||||||||||||||||||
Non-mortgage-backed securities | 63,472 | 69,442 | ||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||
Pass-through securities: | ||||||||||||||||||||||
Fixed rate | 78 | 170 | ||||||||||||||||||||
Variable rate | 1,298,146 | 595,078 | ||||||||||||||||||||
Collateralized mortgage obligations: | ||||||||||||||||||||||
Fixed rate | 541,126 | 687,770 | ||||||||||||||||||||
Variable rate | 3,536,840 | 3,828,136 | ||||||||||||||||||||
Mortgage-backed securities | 5,376,190 | 5,111,154 | ||||||||||||||||||||
TOTAL | $ | 5,439,662 | $ | 5,180,596 | ||||||||||||||||||
Gains and Losses: Net gains (losses) on trading securities during the years ended December 31, 2013, 2012, and 2011 are shown in Table 4.7 (in thousands): | ||||||||||||||||||||||
Table 4.7 | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
Net gains (losses) on trading securities held as of December 31, 2013 | $ | -50,468 | $ | -16,651 | $ | 37,768 | ||||||||||||||||
Net gains (losses) on trading securities sold or matured prior to December 31, 2013 | -517 | -11,397 | -16,996 | |||||||||||||||||||
NET GAIN (LOSS) ON TRADING SECURITIES | $ | -50,985 | $ | -28,048 | $ | 20,772 | ||||||||||||||||
Other-than-temporary Impairment: The FHLBank has established processes for evaluating its individual held-to-maturity investment securities holdings in an unrealized loss position for OTTI. The FHLBanks’ OTTI Governance Committee, which is comprised of representation from all 12 FHLBanks, has responsibility for reviewing and approving the key modeling assumptions, inputs and methodologies to be used by the FHLBanks to generate cash flow projections used in analyzing credit losses and determining OTTI for private-label MBS/ABS. To support consistency among the FHLBanks, FHLBank Topeka completed its OTTI analysis primarily based upon cash flow analysis prepared by FHLBank of San Francisco on behalf of FHLBank Topeka using key modeling assumptions provided by the FHLBanks’ OTTI Governance Committee for the majority of its private-label residential MBS and home equity loan ABS. Certain private-label MBS backed by multi-family and commercial real estate loans, home equity lines of credit and manufactured housing loans were outside of the scope of the OTTI Governance Committee and were analyzed for OTTI by the FHLBank utilizing other methodologies. | ||||||||||||||||||||||
An OTTI cash flow analysis is run by FHLBank of San Francisco for each of the FHLBank’s remaining private-label MBS/ABS using the FHLBank System’s common platform and agreed-upon assumptions. For certain private-label MBS/ABS where underlying collateral data is not available, alternative procedures as determined by each FHLBank are used to assess these securities for OTTI. | ||||||||||||||||||||||
The evaluation includes estimating projected cash flows that are likely to be collected based on assessments of all available information about each individual security, including the structure of the security and certain assumptions as determined by the FHLBanks’ OTTI Governance Committee such as: (1) the remaining payment terms for the security; (2) prepayment speeds; (3) default rates; (4) loss severity on the collateral supporting the FHLBank’s security based on underlying loan-level borrower and loan characteristics; (5) expected housing price changes; and (6) interest rate assumptions. In performing a detailed cash flow analysis, the FHLBank identifies the best estimate of the cash flows expected to be collected. If this estimate results in a present value of expected cash flows (discounted at the security’s effective yield) that is less than the amortized cost basis of a security (that is, a credit loss exists) and the fair value is less than carrying value, an OTTI is considered to have occurred. | ||||||||||||||||||||||
To assess whether the entire amortized cost basis of securities will be recovered, the FHLBank of San Francisco, on behalf of the FHLBank, performed a cash flow analysis using two third-party models. The first third-party model considers borrower characteristics and the particular attributes of the loans underlying the FHLBank’s securities, in conjunction with assumptions about future changes in home prices and interest rates, to project prepayments, defaults and loss severities. A significant input to the first model is the forecast of future housing price changes for the relevant states and core based statistical areas (CBSAs), which are based upon an assessment of the individual housing markets. CBSA refers collectively to metropolitan and micropolitan statistical areas as defined by the United States Office of Management and Budget; as currently defined, a CBSA must contain at least one urban area of 10,000 or more people. The OTTI Governance Committee developed a short-term housing price forecast with projected changes ranging from a decrease of 5.0 percent to an increase of 7.0 percent over the twelve-month period beginning October 1, 2013. For the vast majority of markets, the short-term housing price forecast ranges from 1.0 percent to 5.0 percent. Thereafter, home prices were projected to recover using one of five different recovery paths. Table 4.8 presents projected home price recovery by months as of December 31, 2013: | ||||||||||||||||||||||
Table 4.8 | ||||||||||||||||||||||
Recovery Range of | ||||||||||||||||||||||
Annualized Rates | ||||||||||||||||||||||
Months | Low | High | ||||||||||||||||||||
1 – 6 | - | % | 3.0 | % | ||||||||||||||||||
12-Jul | 1.0 | 4.0 | ||||||||||||||||||||
13 - 18 | 2.0 | 4.0 | ||||||||||||||||||||
19 - 30 | 2.0 | 5.0 | ||||||||||||||||||||
31 - 54 | 2.0 | 6.0 | ||||||||||||||||||||
Thereafter | 2.3 | 5.6 | ||||||||||||||||||||
The month-by-month projections of future loan performance derived from the first model, which reflect projected prepayments, defaults and loss severities, are then input into a second model that allocates the projected loan level cash flows and losses to the various security classes in the securitization structure in accordance with its prescribed cash flow and loss allocation rules. In a securitization in which the credit enhancement for the senior securities is derived from the presence of subordinate securities, losses are generally allocated first to the subordinate securities until their principal balances are reduced to zero. The projected cash flows are based on a number of assumptions and expectations, and the results of these models can vary significantly with changes in assumptions and expectations. The scenario of cash flows determined based on model approach reflects a best estimate scenario and includes a base case current-to-trough housing price forecast and a base case housing price recovery path. | ||||||||||||||||||||||
For those securities for which an OTTI was determined to have occurred during the year ended December 31, 2013 (that is, securities for which the FHLBank determined that it was more likely than not that the amortized cost basis would not be recovered), Table 4.9 presents a summary of the significant inputs used to measure the amount of credit loss recognized in earnings during this period as well as related current credit enhancement. Credit enhancement is defined as the percentage of subordinated tranches and over-collateralization, if any, in a security structure that will generally absorb losses before the FHLBank will experience a loss on the security. The calculated averages represent the dollar-weighted averages of all the private-label MBS/ABS investments in each category shown and represent significant inputs associated with the most recent OTTI charge in 2013. Private-label MBS/ABS are classified as prime, Alt-A and subprime based on the originator’s classification at the time of origination or based on classification by an NRSRO upon issuance of the MBS/ABS. | ||||||||||||||||||||||
Table 4.9 | ||||||||||||||||||||||
Private-label residential MBS | ||||||||||||||||||||||
Significant Inputs | ||||||||||||||||||||||
Year of | Prepayment Rates | Default Rates | Loss Severities | Current Credit Enhancements | ||||||||||||||||||
Securitization | ||||||||||||||||||||||
Prime: | ||||||||||||||||||||||
2004 and prior | 10.9 | % | 8.3 | % | 23.6 | % | 9.3 | % | ||||||||||||||
2005 | 10.6 | 11.3 | 33.3 | 3.5 | ||||||||||||||||||
2006 | 8.2 | 12.1 | 36.9 | 1.1 | ||||||||||||||||||
Total Prime | 10.1 | 10.1 | 29.6 | 5.7 | ||||||||||||||||||
Alt-A: | ||||||||||||||||||||||
2004 and prior | 9.9 | 16.2 | 37.5 | 10.6 | ||||||||||||||||||
2005 | 9.4 | 18.7 | 38.7 | 4.8 | ||||||||||||||||||
Total Alt-A | 9.6 | 17.6 | 38.2 | 7.3 | ||||||||||||||||||
TOTAL | 9.7 | % | 15.7 | % | 36.0 | % | 6.9 | % | ||||||||||||||
Home Equity Loan ABS | ||||||||||||||||||||||
Significant Inputs | ||||||||||||||||||||||
Year of | Prepayment Rates | Default Rates | Loss Severities | Current Credit Enhancements | ||||||||||||||||||
Securitization | ||||||||||||||||||||||
Subprime: | ||||||||||||||||||||||
2004 and prior | 3.1 | % | 7.3 | % | 93.3 | % | 4.3 | % | ||||||||||||||
For the 27 outstanding private-label securities with OTTI during the lives of the securities, the FHLBank’s reported balances as of December 31, 2013 are presented in Table 4.10 (in thousands): | ||||||||||||||||||||||
Table 4.10 | ||||||||||||||||||||||
12/31/13 | ||||||||||||||||||||||
Unpaid Principal Balance | Amortized Cost | Carrying Value | Fair Value | |||||||||||||||||||
Private-label residential MBS: | ||||||||||||||||||||||
Prime | $ | 17,370 | $ | 16,445 | $ | 15,072 | $ | 16,406 | ||||||||||||||
Alt-A | 71,464 | 64,976 | 50,524 | 60,193 | ||||||||||||||||||
Total private-label residential MBS | 88,834 | 81,421 | 65,596 | 76,599 | ||||||||||||||||||
Home equity loans: | ||||||||||||||||||||||
Subprime | 3,348 | 1,406 | 1,228 | 2,767 | ||||||||||||||||||
TOTAL | $ | 92,182 | $ | 82,827 | $ | 66,824 | $ | 79,366 | ||||||||||||||
Table 4.11 presents a roll-forward of OTTI activity for the years ended December 31, 2013, 2012, and 2011 related to credit losses recognized in earnings (in thousands): | ||||||||||||||||||||||
Table 4.11 | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
Balance, beginning of period | $ | 11,291 | $ | 10,342 | $ | 5,938 | ||||||||||||||||
Additional charge on securities for which OTTI was not previously recognized1 | - | 271 | 1,219 | |||||||||||||||||||
Additional charge on securities for which OTTI was previously recognized1 | 530 | 1,389 | 3,492 | |||||||||||||||||||
Amortization of credit component of OTTI2 | -1,904 | -711 | -307 | |||||||||||||||||||
BALANCE, END OF PERIOD | $ | 9,917 | $ | 11,291 | $ | 10,342 | ||||||||||||||||
1For the years ended December 31, 2013, 2012, and 2011, securities previously impaired represent all securities that were impaired prior to January 1, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||
2The FHLBank amortizes the credit component based on estimated cash flows prospectively up to the amount of expected principal to be recovered. The discounted cash flows will move from the discounted loss value to the ultimate principal to be written off at the projected date of loss. If the expected cash flows improve, the amount of expected loss decreases which causes a corresponding decrease in the calculated amortization. Based on the level of improvement in the cash flows, the amortization could become a positive adjustment to income. | ||||||||||||||||||||||
As of December 31, 2013, the fair value of a portion of the FHLBank’s held-to-maturity securities portfolio was below the amortized cost of the securities due to interest rate volatility, illiquidity in the marketplace and credit deterioration in the U.S. mortgage markets that began in early 2008. However, the decline in fair value of these securities is considered temporary as the FHLBank expects to recover the entire amortized cost basis on the remaining held-to-maturity securities in unrecognized loss positions and neither intends to sell these securities nor is it more likely than not that the FHLBank will be required to sell these securities before its anticipated recovery of the remaining amortized cost basis. | ||||||||||||||||||||||
Advances
Advances | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Advances [Abstract] | ' | ||||||||||||
Advances | ' | ||||||||||||
NOTE 5 – ADVANCES | |||||||||||||
General Terms: The FHLBank offers a wide range of fixed and variable rate advance products with different maturities, interest rates, payment characteristics and optionality. Fixed rate advances generally have maturities ranging from 3 days to 30 years. Variable rate advances generally have maturities ranging from overnight to 30 years, where the interest rates reset periodically at a fixed spread to LIBOR or other specified index. As of December 31, 2013 and 2012, the FHLBank had advances outstanding at interest rates ranging from 0.11 percent to 8.01 percent and 0.12 percent to 8.01 percent, respectively. Table 5.1 presents advances summarized by year of contractual maturity as of December 31, 2013 and 2012 (in thousands): | |||||||||||||
Table 5.1 | |||||||||||||
12/31/13 | 12/31/12 | ||||||||||||
Year of Contractual Maturity | Amount | Weighted Average Interest Rate | Amount | Weighted Average Interest Rate | |||||||||
Due in one year or less | $ | 5,431,364 | 0.77 | % | $ | 3,433,058 | 1.11 | % | |||||
Due after one year through two years | 1,643,200 | 1.77 | 1,454,725 | 2.39 | |||||||||
Due after two years through three years | 1,650,222 | 1.98 | 1,691,471 | 1.88 | |||||||||
Due after three years through four years | 2,353,661 | 2.59 | 1,757,905 | 1.99 | |||||||||
Due after four years through five years | 1,302,199 | 2.42 | 2,529,511 | 2.84 | |||||||||
Thereafter | 4,812,973 | 1.09 | 5,241,927 | 1.36 | |||||||||
Total par value | 17,193,619 | 1.45 | % | 16,108,597 | 1.76 | % | |||||||
Discounts | -36,782 | -29,767 | |||||||||||
Hedging adjustments1 | 268,650 | 494,518 | |||||||||||
TOTAL | $ | 17,425,487 | $ | 16,573,348 | |||||||||
1 | See Note 8 for a discussion of: (1) the FHLBank’s objectives for using derivatives; (2) the types of assets and liabilities hedged; and (3) the accounting for derivatives and the related assets and liabilities hedged. | ||||||||||||
The FHLBank’s advances outstanding include advances that contain call options that may be exercised with or without prepayment fees at the borrower’s discretion on specific dates (call dates) before the stated advance maturities (callable advances). In exchange for receiving the right to call the advance on a predetermined call schedule, the borrower may pay a higher fixed rate for the advance relative to an equivalent maturity, non-callable, fixed rate advance. The borrower normally exercises its call options on these advances when interest rates decline (fixed rate advances) or spreads change (adjustable rate advances). The FHLBank’s advances as of December 31, 2013 and 2012 include callable advances totaling $5,056,133,000 and $5,429,171,000, respectively. Of these callable advances, there were $4,932,869,000 and $5,300,793,000 of variable rate advances as of December 31, 2013 and 2012, respectively. | |||||||||||||
Convertible advances allow the FHLBank to convert an advance from one interest payment term structure to another. When issuing convertible advances, the FHLBank may purchase put options from a member that allow the FHLBank to convert the fixed rate advance to a variable rate advance at the current market rate or another structure after an agreed-upon lockout period. A convertible advance carries a lower interest rate than a comparable-maturity fixed rate advance without the conversion feature. As of December 31, 2013 and 2012, the FHLBank had convertible advances outstanding totaling $1,685,242,000 and $2,079,092,000, respectively. | |||||||||||||
Table 5.2 presents advances summarized by contractual maturity or next call date (for callable advances) and by contractual maturity or next conversion date (for convertible advances) as of December 31, 2013 and 2012 (in thousands): | |||||||||||||
Table 5.2 | |||||||||||||
Year of Contractual Maturity | Year of Contractual Maturity | ||||||||||||
or Next Call Date | or Next Conversion Date | ||||||||||||
Redemption Term | 12/31/13 | 12/31/12 | 12/31/13 | 12/31/12 | |||||||||
Due in one year or less | $ | 10,172,524 | $ | 8,483,653 | $ | 7,038,106 | $ | 5,430,875 | |||||
Due after one year through two years | 1,392,527 | 1,335,481 | 1,555,100 | 1,412,850 | |||||||||
Due after two years through three years | 1,175,623 | 1,346,362 | 1,528,722 | 1,593,371 | |||||||||
Due after three years through four years | 1,856,012 | 1,094,410 | 1,381,719 | 1,606,405 | |||||||||
Due after four years through five years | 1,062,253 | 2,033,422 | 979,999 | 1,534,569 | |||||||||
Thereafter | 1,534,680 | 1,815,269 | 4,709,973 | 4,530,527 | |||||||||
TOTAL PAR VALUE | $ | 17,193,619 | $ | 16,108,597 | $ | 17,193,619 | $ | 16,108,597 | |||||
Interest Rate Payment Terms: Table 5.3 details additional interest rate payment terms for advances as of December 31, 2013 and 2012 (in thousands): | |||||||||||||
Table 5.3 | |||||||||||||
12/31/13 | 12/31/12 | ||||||||||||
Fixed rate: | |||||||||||||
Due in one year or less | $ | 1,733,559 | $ | 1,301,041 | |||||||||
Due after one year | 6,923,555 | 7,495,446 | |||||||||||
Total fixed rate | 8,657,114 | 8,796,487 | |||||||||||
Variable rate: | |||||||||||||
Due in one year or less | 3,697,805 | 2,132,017 | |||||||||||
Due after one year | 4,838,700 | 5,180,093 | |||||||||||
Total variable rate | 8,536,505 | 7,312,110 | |||||||||||
TOTAL PAR VALUE | $ | 17,193,619 | $ | 16,108,597 | |||||||||
Credit Risk Exposure and Security Terms: The FHLBank’s potential credit risk from advances is concentrated in commercial banks (41.1 percent of total advances), thrifts (35.1 percent of total advances) and insurance companies (18.3 percent of total advances). As of December 31, 2013 and 2012, the FHLBank had outstanding advances of $5,245,000,000 and $5,448,000,000, respectively, to two members that individually held 10 percent or more of the FHLBank’s advances, which represents 30.5 percent and 33.8 percent, respectively, of total outstanding advances. The income from advances to these members during 2013 and 2012 totaled $68,076,000 and $77,517,000, respectively. Both of the members were the same each year. | |||||||||||||
See Note 7 for information related to the FHLBank’s credit risk on advances and allowance for credit losses. | |||||||||||||
See Note 19 for detailed information on transactions with related parties. | |||||||||||||
Information about the fair value of advances is included in Note 17. | |||||||||||||
Mortgage_Loans
Mortgage Loans | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Mortgage Loans [Abstract] | ' | ||||||
Mortgage Loans | ' | ||||||
NOTE 6 – MORTGAGE LOANS | |||||||
The MPF Program involves the FHLBank investing in mortgage loans, which have been funded by the FHLBank through or purchased from its participating members. These mortgage loans are government-insured or guaranteed (by the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), the Rural Housing Service of the Department of Agriculture (RHS) and/or the Department of Housing and Urban Development (HUD)) loans and conventional residential loans credit-enhanced by participating financial institutions (PFI). Depending upon a member’s product selection, the servicing rights can be retained or sold by the participating member. The FHLBank does not buy or own any mortgage servicing rights. | |||||||
Mortgage Loans Held for Sale: On December 31, 2010, the FHLBank transferred mortgage loans held for portfolio to held for sale based on its intent to sell specifically identified mortgage loans. All of these loans were classified as conventional mortgage loans. On May 6, 2011, all mortgage loans held for sale were sold at a net gain, which is included in other income (loss) on the Statements of Income. Table 6.1 presents details of the sale (in thousands): | |||||||
Table 6.1 | |||||||
2011 | |||||||
Net proceeds | $ | 111,444 | |||||
Cost basis | -107,019 | ||||||
NET REALIZED GAIN (LOSS) ON SALE OF MORTGAGE LOANS HELD FOR SALE | $ | 4,425 | |||||
Mortgage Loans Held for Portfolio: Table 6.2 presents information as of December 31, 2013 and 2012 on mortgage loans held for portfolio (in thousands): | |||||||
Table 6.2 | |||||||
12/31/13 | 12/31/12 | ||||||
Real estate: | |||||||
Fixed rate, medium-term1, single-family mortgages | $ | 1,611,289 | $ | 1,711,275 | |||
Fixed rate, long-term, single-family mortgages | 4,245,351 | 4,126,471 | |||||
Total unpaid principal balance | 5,856,640 | 5,837,746 | |||||
Premiums | 95,755 | 98,887 | |||||
Discounts | -3,659 | -4,483 | |||||
Deferred loan costs, net | 1,087 | 1,549 | |||||
Other deferred fees | -212 | -312 | |||||
Hedging adjustments2 | 6,617 | 12,546 | |||||
Total before Allowance for Credit Losses on Mortgage Loans | 5,956,228 | 5,945,933 | |||||
Allowance for Credit Losses on Mortgage Loans | -6,748 | -5,416 | |||||
MORTGAGE LOANS HELD FOR PORTFOLIO, NET | $ | 5,949,480 | $ | 5,940,517 | |||
1 | Medium-term defined as a term of 15 years or less at origination. | ||||||
2 | See Note 8 for a discussion of: (1) the FHLBank’s objectives for using derivatives; (2) the types of assets and liabilities hedged; and (3) the accounting for derivatives and the related assets and liabilities hedged. | ||||||
Table 6.3 presents information as of December 31, 2013 and 2012 on the outstanding unpaid principal balance (UPB) of mortgage loans held for portfolio (in thousands): | |||||||
Table 6.3 | |||||||
12/31/13 | 12/31/12 | ||||||
Conventional loans | $ | 5,212,048 | $ | 5,152,461 | |||
Government-guaranteed or insured loans | 644,592 | 685,285 | |||||
TOTAL UNPAID PRINCIPAL BALANCE | $ | 5,856,640 | $ | 5,837,746 | |||
See Note 7 for information related to the FHLBank’s credit risk on mortgage loans and allowance for credit losses. | |||||||
See Note 19 for detailed information on transactions with related parties. | |||||||
Information about the fair value of mortgage loans held for portfolio is included in Note 17. | |||||||
Allowance_For_Credit_Losses
Allowance For Credit Losses | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Allowance For Credit Losses [Abstract] | ' | |||||||||||||||
Allowance For Credit Losses | ' | |||||||||||||||
NOTE 7 – ALLOWANCE FOR CREDIT LOSSES | ||||||||||||||||
The FHLBank has established an allowance methodology for each of its portfolio segments: credit products (advances, letters of credit and other extensions of credit to borrowers); government mortgage loans held for portfolio; conventional mortgage loans held for portfolio; the direct financing lease receivable; term Federal funds sold; and term securities purchased under agreements to resell. | ||||||||||||||||
Credit products: The FHLBank manages its credit exposure to credit products through an integrated approach that generally includes establishing a credit limit for each member, includes an ongoing review of each member’s financial condition and is coupled with conservative collateral/lending policies to limit risk of loss while balancing members’ needs for a reliable source of funding. In addition, the FHLBank lends to its members in accordance with Federal statutes and Finance Agency regulations. Specifically, the FHLBank complies with the Federal Home Loan Bank Act, as amended (Bank Act), which requires the FHLBank to obtain sufficient collateral to fully secure credit products. The estimated value of the collateral required to secure each member’s credit products is calculated by applying collateral discounts, or haircuts, to the market value or unpaid principal balance of the collateral, as applicable. The FHLBank accepts certain investment securities, residential mortgage loans, deposits, and other real estate related assets as collateral. In addition, community financial institutions are eligible to utilize expanded statutory collateral provisions for small business loans, agriculture loans and community development loans. The FHLBank’s capital stock owned by borrowing members is held by the FHLBank as further collateral security for all indebtedness of the member to the FHLBank. Collateral arrangements may vary depending upon member credit quality, financial condition and performance; borrowing capacity; and overall credit exposure to the member. The FHLBank can also require additional or substitute collateral to protect its security interest. The FHLBank’s management believes that these policies effectively manage the FHLBank’s credit risk from credit products. | ||||||||||||||||
Based upon the financial condition of the member, the FHLBank either allows a member to retain physical possession of the collateral assigned to it, or requires the member to specifically assign or place physical possession of the collateral with the FHLBank or its safekeeping agent. The FHLBank perfects its security interest in all pledged collateral. The Bank Act affords any security interest granted to the FHLBank by a member priority over the claims or rights of any other party except for claims or rights of a third party that would be entitled to priority under otherwise applicable law and are held by a bona fide purchaser for value or by a secured party holding a prior perfected security interest. | ||||||||||||||||
Using a risk-based approach and taking into consideration each member’s financial strength, the FHLBank considers the type and level of collateral to be the primary indicator of credit quality on its credit products. As of December 31, 2013 and 2012, the FHLBank had rights to collateral on a member-by-member basis with an estimated value in excess of its outstanding extensions of credit. | ||||||||||||||||
The FHLBank continues to evaluate and make changes to its collateral guidelines, as necessary, based on current market conditions. As of December 31, 2013 and 2012, the FHLBank did not have any advances that were past due, on nonaccrual status or considered impaired. In addition, there have been no troubled debt restructurings related to credit products during 2013 and 2012. | ||||||||||||||||
Based upon the collateral held as security, management’s credit extension and collateral policies, management’s credit analysis and the repayment history on credit products, the FHLBank currently does not anticipate any credit losses on its credit products. Accordingly, as of December 31, 2013 and 2012, the FHLBank has not recorded any allowance for credit losses on credit products, nor has it recorded any liability to reflect an allowance for credit losses for off-balance sheet credit exposures. For additional information on the FHLBank’s off-balance sheet credit exposure see Note 18. | ||||||||||||||||
Government Mortgage Loans Held For Portfolio: The FHLBank invests in government-guaranteed or insured (by FHA, VA, RHA and/or HUD) fixed rate mortgage loans secured by one-to-four family residential properties. The servicer provides and maintains insurance or a guarantee from the applicable government agency. The servicer is responsible for compliance with all government agency requirements and for obtaining the benefit of the applicable insurance or guarantee with respect to defaulted government mortgage loans. Any losses on these loans that are not recovered from the issuer or guarantor are absorbed by the servicers. Therefore, the FHLBank only has credit risk for these loans if the servicer fails to pay for losses not covered by the insurance or guarantee. Based on the FHLBank’s assessment of its servicers, the FHLBank has not established an allowance for credit losses on government mortgage loans. Further, none of these mortgage loans have been placed on non-accrual status because of the U.S. government guarantee or insurance on these loans and the contractual obligation of the loan servicer to repurchase the loans when certain criteria are met. | ||||||||||||||||
Conventional Mortgage Loans Held For Portfolio: The allowances for conventional loans are determined by performing migration analysis to determine the probability of default and loss severity rates. This is done through analyses that include consideration of various data observations such as past performance, current performance, loan portfolio characteristics, collateral-related characteristics, industry data and prevailing economic conditions. The measurement of the allowance for loan losses may consist of: (1) reviewing all residential mortgage loans at the individual master commitment level; (2) reviewing specifically identified collateral-dependent loans for impairment; (3) reviewing homogeneous pools of residential mortgage loans; and/or (4) estimating credit losses in the remaining portfolio. | ||||||||||||||||
The FHLBank’s management of credit risk in the MPF Program involves several layers of loss protection that are defined in agreements among the FHLBank and its PFIs. The availability of loss protection may differ slightly among MPF products. The FHLBank’s loss protection consists of the following loss layers, in order of priority: | ||||||||||||||||
§ | Homeowner Equity. | |||||||||||||||
§ | Primary Mortgage Insurance (PMI). PMI is on all loans with homeowner equity of less than 20 percent of the original purchase price or appraised value. | |||||||||||||||
§ | First Loss Account (FLA). The FLA functions as a tracking mechanism for determining the FHLBank’s potential loss exposure under each master commitment prior to the PFI’s CE obligation. If the FHLBank experiences losses in a master commitment, these losses will either be: (1) recovered through the withholding of future performance-based CE fees from the PFI; or (2) absorbed by the FHLBank. As of December 31, 2013 and 2012, the FHLBank’s exposure under the FLA was $33,468,000 and $30,313,000, respectively. | |||||||||||||||
§ | CE Obligation. PFIs have a CE obligation to absorb losses in excess of the FLA in order to limit the FHLBank’s loss exposure to that of an investor in an MBS that is rated the equivalent of double-A by an NRSRO. PFIs must either fully collateralize their CE obligation with assets considered acceptable by the FHLBank’s Member Products Policy (MPP) or purchase supplemental mortgage insurance (SMI) from mortgage insurers. Any incurred losses that would be absorbed by the CE obligation are not reserved as part of the FHLBank’s allowance for loan losses. Accordingly, the calculated allowance was reduced by $2,587,000 and $2,113,000 as of December 31, 2013 and 2012, respectively, for the amount in excess of the FLA to be covered by PFIs’ CE obligations. As of December 31, 2013 and 2012, CE obligations available to cover losses in excess of the FLA were $370,654,000 and $312,994,000, respectively. | |||||||||||||||
The FHLBank pays the participating member a fee, a portion of which may be based on the credit performance of the mortgage loans, in exchange for absorbing the CE obligation loss layer up to an agreed-upon amount. For some products, losses incurred under the FLA may be recovered by withholding future performance-based CE fees otherwise paid to our PFIs. The FHLBank records CE fees paid to the participating members as a reduction to mortgage interest income. Table 7.1 presents net CE fees paid to participating members for the years ended December 31, 2013, 2012, and 2011 (in thousands): | ||||||||||||||||
Table 7.1 | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
CE fees paid to PFIs | $ | 4,861 | $ | 4,396 | $ | 3,744 | ||||||||||
Performance-based CE fees recovered from PFIs | -157 | -179 | -199 | |||||||||||||
NET CE FEES PAID | $ | 4,704 | $ | 4,217 | $ | 3,545 | ||||||||||
Mortgage Loans Evaluated at the Individual Master Commitment Level: The credit risk analysis of all conventional loans is performed at the individual master commitment level to properly determine the credit enhancements available to recover losses on mortgage loans under each individual master commitment. | ||||||||||||||||
Collectively Evaluated Mortgage Loans: The credit risk analysis of conventional loans evaluated collectively for impairment considers loan pool specific attribute data, applies estimated loss severities and incorporates the associated credit enhancements in order to determine the FHLBank’s best estimate of probable incurred losses. Migration analysis is a methodology for determining, through the FHLBank’s experience over a historical period, the rate of default on pools of similar loans. The FHLBank applies migration analysis to loans based on the following categories: (1) loans in foreclosure; (2) nonaccrual loans; (3) delinquent loans; and (4) all other remaining loans. The FHLBank then estimates how many loans in these categories may migrate to a realized loss position and applies a loss severity factor to estimate losses incurred as of the Statement of Condition date. | ||||||||||||||||
Individually Evaluated Mortgage Loans: Certain conventional mortgage loans, primarily impaired mortgage loans that are considered collateral-dependent, may be specifically identified for purposes of calculating the allowance for credit losses. A mortgage loan is considered collateral-dependent if repayment is only expected to be provided by the sale of the underlying property, that is, if it is considered likely that the borrower will default and there is not sufficient CE obligation from a PFI to offset all losses under the master commitment. The estimated credit losses on impaired collateral-dependent loans may be separately determined because sufficient information exists to make a reasonable estimate of the inherent loss for these loans on an individual loan basis. The FHLBank applies an appropriate loss severity rate, which is used to estimate the fair value of the collateral. The resulting incurred loss is equal to the difference between the carrying value of the loan and the estimated fair value of the collateral less estimated selling costs. | ||||||||||||||||
Direct Financing Lease Receivable: The FHLBank has a recorded investment in a direct financing lease receivable with a member for a building complex and property. Under the office complex agreement, the FHLBank has all rights and remedies under the lease agreement as well as all rights and remedies available under the member’s Advance, Pledge and Security Agreement. Consequently, the FHLBank can apply any excess collateral securing credit products to any shortfall in the leasing arrangement. | ||||||||||||||||
Term Federal Funds Sold: These investments are all short-term unsecured loans conducted with investment-grade counterparties and we only evaluate these investments for purposes of an allowance for credit losses if the investment is not paid when due. There were no investments in term Federal funds sold outstanding as of December 31, 2013 and 2012, and all such investments acquired during the years ended December31, 2013 and 2012 were repaid according to their contractual terms. | ||||||||||||||||
Term Securities Purchased Under Agreements to Resell: These investments are considered collateralized financing arrangements and effectively represent short-term loans to investment-grade counterparties. The terms of these loans are structured such that if the market value of the underlying securities decreases below the market value required as collateral, the counterparty must provide additional securities as collateral in an amount equal to the decrease or remit cash in such amount, or the FHLBank will decrease the dollar value of the agreement to resell accordingly. If the FHLBank determines that an agreement to resell is impaired, the difference between the fair value of the collateral and the amortized cost of the agreement is charged to earnings. There were no investments in term securities purchased under agreements to resell outstanding as of December 31, 2013 and 2012, and all such investments acquired during the years ended December31, 2013 and 2012 were repaid according to their contractual terms. | ||||||||||||||||
Roll-forward of Allowance for Credit Losses: As of December 31, 2013, the FHLBank determined that an allowance for credit losses was only necessary on conventional mortgage loans held for portfolio. Table 7.2 presents a roll-forward of the allowance for credit losses for the year ended December 31, 2013 as well as the method used to evaluate impairment relating to all portfolio segments regardless of whether or not an estimated credit loss has been recorded as of December 31, 2013 (in thousands): | ||||||||||||||||
Table 7.2 | ||||||||||||||||
12/31/13 | ||||||||||||||||
Conventional | Government | Credit | Direct Financing | Total | ||||||||||||
Loans | Loans | Products1 | Lease Receivable | |||||||||||||
Allowance for credit losses: | ||||||||||||||||
Balance, beginning of period | $ | 5,416 | $ | - | $ | - | $ | - | $ | 5,416 | ||||||
Charge-offs | -594 | - | - | - | -594 | |||||||||||
Provision for credit losses | 1,926 | - | - | - | 1,926 | |||||||||||
BALANCE, END OF PERIOD | $ | 6,748 | $ | - | $ | - | $ | - | $ | 6,748 | ||||||
Allowance for credit losses, end of period: | ||||||||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||
Collectively evaluated for impairment | $ | 6,748 | $ | - | $ | - | $ | - | $ | 6,748 | ||||||
Recorded investment2, end of period: | ||||||||||||||||
Individually evaluated for impairment3 | $ | - | $ | - | $ | 17,446,437 | $ | 23,540 | $ | 17,469,977 | ||||||
Collectively evaluated for impairment | $ | 5,323,049 | $ | 662,376 | $ | - | $ | - | $ | 5,985,425 | ||||||
__________ | ||||||||||||||||
1 | The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. | |||||||||||||||
2 | The recorded investment in a financing receivable is the UPB, adjusted for accrued interest, net deferred loan fees or costs, unamortized premiums or discounts, fair value hedging adjustments and direct write-downs. The recorded investment is not net of any valuation allowance. | |||||||||||||||
3 | No financing receivables individually evaluated for impairment were determined to be impaired. | |||||||||||||||
Table 7.3 presents a roll-forward of the allowance for credit losses for the year ended December 31, 2012 as well as the method used to evaluate impairment relating to all portfolio segments regardless of whether or not an estimated credit loss has been recorded as of December 31, 2012 (in thousands): | ||||||||||||||||
Table 7.3 | ||||||||||||||||
12/31/12 | ||||||||||||||||
Conventional Loans | Government Loans | Credit Products1 | Direct Financing Lease Receivable | Total | ||||||||||||
Allowance for credit losses: | ||||||||||||||||
Balance, beginning of period | $ | 3,473 | $ | - | $ | - | $ | - | $ | 3,473 | ||||||
Charge-offs | -553 | - | - | - | -553 | |||||||||||
Provision for credit losses | 2,496 | - | - | - | 2,496 | |||||||||||
Balance, end of period | $ | 5,416 | $ | - | $ | - | $ | - | $ | 5,416 | ||||||
Allowance for credit losses, end of period: | ||||||||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||
Collectively evaluated for impairment | $ | 5,416 | $ | - | $ | - | $ | - | $ | 5,416 | ||||||
Recorded investment2, end of period: | ||||||||||||||||
Individually evaluated for impairment3 | $ | - | $ | - | $ | 16,597,209 | $ | 25,527 | $ | 16,622,736 | ||||||
Collectively evaluated for impairment | $ | 5,270,183 | $ | 705,209 | $ | - | $ | - | $ | 5,975,392 | ||||||
___________ | ||||||||||||||||
1 | The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. | |||||||||||||||
2 | The recorded investment in a financing receivable is the UPB, adjusted for accrued interest, net deferred loan fees or costs, unamortized premiums or discounts, fair value hedging adjustments and direct write-downs. The recorded investment is not net of any valuation allowance. | |||||||||||||||
3 | No financing receivables individually evaluated for impairment were determined to be impaired. | |||||||||||||||
Credit Quality Indicators: The FHLBank’s key credit quality indicators include the migration of: (1) past due loans; (2) non-accrual loans; (3) loans in process of foreclosure; and (4) impaired loans, all of which are used either on an individual or pool basis to determine the allowance for credit losses. | ||||||||||||||||
Table 7.4 summarizes the delinquency aging and key credit quality indicators for all of the FHLBank’s portfolio segments as of December 31, 2013 (dollar amounts in thousands): | ||||||||||||||||
Table 7.4 | ||||||||||||||||
12/31/13 | ||||||||||||||||
Conventional Loans | Government Loans | Credit Products1 | Direct Financing Lease Receivable | Total | ||||||||||||
Recorded investment2: | ||||||||||||||||
Past due 30-59 days delinquent | $ | 31,653 | $ | 21,605 | $ | - | $ | - | $ | 53,258 | ||||||
Past due 60-89 days delinquent | 7,873 | 5,672 | - | - | 13,545 | |||||||||||
Past due 90 days or more delinquent | 18,040 | 8,720 | - | - | 26,760 | |||||||||||
Total past due | 57,566 | 35,997 | - | - | 93,563 | |||||||||||
Total current loans | 5,265,483 | 626,379 | 17,446,437 | 23,540 | 23,361,839 | |||||||||||
Total recorded investment | $ | 5,323,049 | $ | 662,376 | $ | 17,446,437 | $ | 23,540 | $ | 23,455,402 | ||||||
Other delinquency statistics: | ||||||||||||||||
In process of foreclosure, included above3 | $ | 7,665 | $ | 2,968 | $ | - | $ | - | $ | 10,633 | ||||||
Serious delinquency rate4 | 0.4 | % | 1.3 | % | - | % | - | % | 0.1 | % | ||||||
Past due 90 days or more and still accruing interest | $ | - | $ | 8,720 | $ | - | $ | - | $ | 8,720 | ||||||
Loans on non-accrual status5 | $ | 21,294 | $ | - | $ | - | $ | - | $ | 21,294 | ||||||
__________ | ||||||||||||||||
1 | The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. | |||||||||||||||
2 | The recorded investment in a financing receivable is the UPB, adjusted for accrued interest, net deferred loan fees or costs, unamortized premiums or discounts, fair value hedging adjustments and direct write-downs. The recorded investment is not net of any valuation allowance. | |||||||||||||||
3 | Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu has been reported. Loans in process of foreclosure are included in past due or current loans dependent on their delinquency status. | |||||||||||||||
4 | Loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the total recorded investment for the portfolio class. | |||||||||||||||
5 | Loans on non-accrual status include $1,515,000 of troubled debt restructurings. Troubled debt restructurings are restructurings in which the FHLBank, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. | |||||||||||||||
Table 7.5 summarizes the key credit quality indicators for the FHLBank’s mortgage loans as of December 31, 2012 (dollar amounts in thousands): | ||||||||||||||||
Table 7.5 | ||||||||||||||||
12/31/12 | ||||||||||||||||
Conventional Loans | Government Loans | Credit Products1 | Direct Financing Lease Receivable | Total | ||||||||||||
Recorded investment2: | ||||||||||||||||
Past due 30-59 days delinquent | $ | 24,954 | $ | 16,990 | $ | - | $ | - | $ | 41,944 | ||||||
Past due 60-89 days delinquent | 8,016 | 5,787 | - | - | 13,803 | |||||||||||
Past due 90 days or more delinquent | 21,576 | 8,177 | - | - | 29,753 | |||||||||||
Total past due | 54,546 | 30,954 | - | - | 85,500 | |||||||||||
Total current loans | 5,215,637 | 674,255 | 16,597,209 | 25,527 | 22,512,628 | |||||||||||
Total recorded investment | $ | 5,270,183 | $ | 705,209 | $ | 16,597,209 | $ | 25,527 | $ | 22,598,128 | ||||||
Other delinquency statistics: | ||||||||||||||||
In process of foreclosure, included above3 | $ | 11,593 | $ | 3,085 | $ | - | $ | - | $ | 14,678 | ||||||
Serious delinquency rate4 | 0.4 | % | 1.2 | % | - | % | - | % | 0.1 | % | ||||||
Past due 90 days or more and still accruing interest | $ | - | $ | 8,177 | $ | - | $ | - | $ | 8,177 | ||||||
Loans on non-accrual status5 | $ | 25,300 | $ | - | $ | - | $ | - | $ | 25,300 | ||||||
__________ | ||||||||||||||||
1 | The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. | |||||||||||||||
2 | The recorded investment in a financing receivable is the UPB, adjusted for accrued interest, net deferred loan fees or costs, unamortized premiums or discounts, fair value hedging adjustments and direct write-downs. The recorded investment is not net of any valuation allowance. | |||||||||||||||
3 | Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu has been reported. Loans in process of foreclosure are included in past due or current loans dependent on their delinquency status. | |||||||||||||||
4 | Loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the total recorded investment for the portfolio class. | |||||||||||||||
5 | Loans on non-accrual status include $1,286,000 of troubled debt restructurings. Troubled debt restructurings are restructurings in which the FHLBank, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. | |||||||||||||||
The FHLBank had $4,307,000 and $3,915,000 classified as real estate owned recorded in other assets as of December 31, 2013 and 2012, respectively. | ||||||||||||||||
Derivatives_And_Hedging_Activi
Derivatives And Hedging Activities | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Derivatives And Hedging Activities [Abstract] | ' | ||||||||||||||||||
Derivatives And Hedging Activities | ' | ||||||||||||||||||
NOTE 8 – DERIVATIVES AND HEDGING ACTIVITIES | |||||||||||||||||||
Nature of Business Activity: The FHLBank is exposed to interest rate risk primarily from the effect of interest rate changes on its interest-earning assets and its funding sources that finance these assets. The goal of the FHLBank’s interest-rate risk management strategy is not to eliminate interest rate risk, but to manage it within appropriate limits. To mitigate the risk of loss, the FHLBank has established policies and procedures, which include guidelines on the amount of exposure to interest rate changes it is willing to accept. In addition, the FHLBank monitors the risk to its interest income, net interest margin and average maturity of interest-earning assets and funding sources. | |||||||||||||||||||
Consistent with Finance Agency regulation, the FHLBank enters into derivatives only to: (1) reduce the interest rate risk exposures inherent in otherwise unhedged assets and funding positions; (2) achieve risk management objectives; and (3) act as an intermediary between its members and counterparties. Finance Agency regulation and the FHLBank’s Risk Management Policy (RMP) prohibit trading in or the speculative use of these derivative instruments and limit credit risk arising from these instruments. The use of derivatives is an integral part of the FHLBank’s financial management strategy. | |||||||||||||||||||
The FHLBank uses derivatives to: | |||||||||||||||||||
§ | Reduce funding costs by combining an interest rate swap with a consolidated obligation because the cost of a combined funding structure can be lower than the cost of a comparable consolidated obligation; | ||||||||||||||||||
§ | Reduce the interest rate sensitivity and repricing gaps of assets and liabilities; | ||||||||||||||||||
§ | Preserve a favorable interest rate spread between the yield of an asset (e.g., an advance) and the cost of the related liability (e.g., the consolidated obligation used to fund the advance). Without the use of derivatives, this interest rate spread could be reduced or eliminated when a change in the interest rate on the advance does not match a change in the interest rate on the consolidated obligation; | ||||||||||||||||||
§ | Mitigate the adverse earnings effects of the shortening or extension of certain assets (e.g., advances or mortgage assets) and liabilities; | ||||||||||||||||||
§ | Manage embedded options in assets and liabilities; and | ||||||||||||||||||
§ | Manage its overall asset-liability portfolio. | ||||||||||||||||||
Application of Derivatives: Derivative financial instruments may be used by the FHLBank as follows: | |||||||||||||||||||
§ | As a fair value or cash flow hedge of an associated financial instrument, a firm commitment or an anticipated transaction; | ||||||||||||||||||
§ | As an economic hedge to manage certain defined risks in its statement of condition. These hedges are primarily used to manage mismatches between the coupon features of its assets and liabilities. For example, the FHLBank may use derivatives in its overall interest rate risk management activities to adjust the interest rate sensitivity of consolidated obligations to approximate more closely the interest rate sensitivity of its assets (both advances and investments) and to adjust the interest rate sensitivity of advances or investments to approximate more closely the interest rate sensitivity of its liabilities; and | ||||||||||||||||||
§ | As an intermediary hedge to meet the asset/liability management needs of its members. The FHLBank acts as an intermediary by entering into derivatives with its members and offsetting derivatives with other counterparties. This intermediation grants smaller members indirect access to the derivatives market. The derivatives used in intermediary activities do not receive hedge accounting treatment and are separately marked-to-market through earnings. The net result of the accounting for these derivatives does not significantly affect the operating results of the FHLBank. | ||||||||||||||||||
Derivative financial instruments are used by the FHLBank when they are considered to be the most cost-effective alternative to achieve the FHLBank’s financial and risk management objectives. The FHLBank reevaluates its hedging strategies from time to time and may change the hedging techniques it uses or adopt new strategies. | |||||||||||||||||||
The FHLBank transacts most of its derivatives with large banks and major broker/dealers. Some of these banks and broker/dealers or their affiliates buy, sell and distribute consolidated obligations. Over-the-counter derivative transactions may be either executed with a counterparty (bilateral derivatives) or cleared through a Futures Commission Merchant (i.e., clearing agent) with a Derivative Clearing Organization (cleared derivatives). | |||||||||||||||||||
Once a derivative transaction has been accepted for clearing by a Derivative Clearing Organization (Clearinghouse), the derivative transaction is novated and the executing counterparty is replaced with the Clearinghouse. The Clearinghouse notifies the clearing agent of the required initial margin and the clearing agent notifies the FHLBank of the required initial and variation margin. The FHLBank is not a derivatives dealer and thus does not trade derivatives for short-term profit. | |||||||||||||||||||
Types of Derivatives: The FHLBank commonly enters into interest rate swaps (including callable and putable swaps), swaptions, and interest rate cap and floor agreements (collectively, derivatives) to reduce funding costs and to manage its exposure to interest rate risks inherent in the normal course of business. These instruments are recorded at fair value and reported in derivative assets or derivative liabilities on the Statements of Condition. Premiums paid at acquisition are accounted for as the basis of the derivative at inception of the hedge. | |||||||||||||||||||
Interest Rate Swaps – An interest rate swap is an agreement between two entities to exchange cash flows in the future. The agreement sets the dates on which the cash flows will be paid and the manner in which the cash flows will be calculated. One of the simplest forms of an interest rate swap involves the promise by one party to pay cash flows equivalent to the interest on a notional principal amount at a predetermined fixed rate for a given period of time. In return for this promise, this party receives cash flows equivalent to the interest on the same notional principal amount at a variable interest rate index for the same period of time. The variable interest rate received or paid by the FHLBank in most derivative transactions is LIBOR. | |||||||||||||||||||
Swaptions – A swaption is an option that gives the buyer the right to enter into a specified interest rate swap at a certain time in the future. When used as a hedge, a swaption can protect the FHLBank against future interest rate changes. The FHLBank may purchase both payer swaptions and receiver swaptions to decrease its interest rate risk exposure related to the prepayment of certain assets. A payer swaption is the option to make fixed interest payments at a later date and a receiver swaption is the option to receive fixed interest payments at a later date. | |||||||||||||||||||
Interest Rate Caps and Floors – In an interest rate cap agreement, a cash flow is generated if the price or interest rate of an underlying variable rises above a certain threshold (or cap) price or interest rate. In an interest rate floor agreement, a cash flow is generated if the price or interest rate of an underlying variable falls below a certain threshold (or floor) price or interest rate. Caps may be used in conjunction with liabilities and floors may be used in conjunction with assets. Caps and floors are designed as protection against the interest rate on a variable rate asset or liability rising or falling below a certain level. The FHLBank purchases interest rate caps and floors to hedge option risk on variable rate MBS held in the FHLBank’s trading and held-to-maturity portfolios and to hedge embedded caps or floors in the FHLBank’s advances. | |||||||||||||||||||
Types of Hedged Items: At the inception of every hedge transaction, the FHLBank documents all hedging relationships between derivatives designated as hedging instruments and the hedged items, its risk management objectives and strategies for undertaking various hedge transactions, and its method of assessing effectiveness. This process includes linking all derivatives that are designated as fair value or cash flow hedges to: (1) assets and/or liabilities on the Statements of Condition; (2) firm commitments; or (3) forecasted transactions. The FHLBank formally assesses (both at the hedge’s inception and at least quarterly on an ongoing basis) whether the derivatives that are used have been effective in offsetting changes in the fair value or cash flows of hedged items and whether those derivatives may be expected to remain effective in future periods. The FHLBank typically uses regression analyses or similar statistical analyses to assess the effectiveness of its hedging relationships. | |||||||||||||||||||
Investments – The FHLBank invests in U.S. Treasury securities, U.S. Agency securities, government-guaranteed securities, GSE securities, MBS and the taxable portion of state or local housing finance agency securities. The interest rate and prepayment risk associated with these investment securities is managed through a combination of debt issuance and derivatives. The FHLBank may manage the prepayment and interest-rate risks by funding investment securities with consolidated obligations that have call features or by economically hedging the prepayment risk with caps or floors, callable swaps or swaptions. The FHLBank may manage against prepayment and duration risks by funding investment securities with consolidated obligations that have call features. The FHLBank may also manage the risk arising from changing market prices and volatility of investment securities by entering into derivatives (economic hedges) that offset the changes in fair value or cash flows of the securities. The FHLBank’s derivatives associated with investment securities (currently includes interest rate caps, floors and swaps) are designated as economic hedges with the changes in fair values of the derivatives being recorded as “Net gain (loss) on derivatives and hedging activities” in other income (loss) on the Statements of Income. The investment securities hedged with interest rate swaps are classified as trading securities with the changes in fair values recorded as “Net gain (loss) on trading securities” in other income (loss) on the Statements of Income. | |||||||||||||||||||
Interest rate caps and floors, swaptions and callable swaps may also be used to hedge prepayment and option risk on the MBS held in the FHLBank’s trading and held-to-maturity portfolios. Most of these derivatives are purchased interest rate caps that hedge interest rate caps embedded in the FHLBank’s trading and held-to-maturity variable rate Agency MBS. Although these derivatives are valid economic hedges against the prepayment and option risk of the portfolio of MBS, they are not specifically linked to individual investment securities and, therefore, do not receive either fair value or cash flow hedge accounting. The derivatives are marked-to-market through earnings. | |||||||||||||||||||
Advances – With the issuance of a convertible advance, the FHLBank purchases from the member an option that enables the FHLBank to convert an advance from fixed rate to variable rate if interest rates increase. Once the FHLBank exercises its option to convert an advance to an at-the-market variable rate, the member then owns the option to terminate the converted advance without fee or penalty on the conversion date and each interest rate reset date thereafter. The FHLBank hedges a convertible advance by entering into a cancelable derivative with a non-member counterparty where the FHLBank pays a fixed rate and receives a variable rate. The derivative counterparty may cancel the derivative on a put date. This type of hedge is designated as a fair value hedge. The counterparty’s decision to cancel the derivative would normally occur in a rising rate environment. If the option is in-the-money, the derivative is cancelled by the derivative counterparty at par (i.e., without any premium or other payment to the FHLBank). When the derivative is cancelled, the FHLBank exercises its option to convert the advance to a variable rate. If a convertible advance is not prepaid by the member upon conversion to an at-the-market variable rate advance (i.e., callable variable rate advance), any hedge-related unamortized basis adjustment is amortized as a yield adjustment. | |||||||||||||||||||
When fixed rate advances are issued to one or more borrowers, the FHLBank can either fund the advances with fixed rate consolidated obligations with the same tenor or simultaneously enter into a matching derivative in which the clearing agent or derivative counterparty receives fixed cash flows from the FHLBank designed to mirror in timing and amount the cash inflows the FHLBank receives on the advance. These transactions are designated as fair value hedges. In this type of transaction, the FHLBank typically receives from the clearing agent or derivative counterparty a variable cash flow that closely matches the interest payments on short-term discount notes or swapped consolidated obligation bonds. | |||||||||||||||||||
The repricing characteristics and optionality embedded in certain financial instruments held by the FHLBank can create interest rate risk. For example, when a member prepays an advance, the FHLBank could suffer lower future income if the principal portion of the prepaid advance were invested in lower-yielding assets that continue to be funded by higher-cost debt. To protect against this risk, the FHLBank generally charges a prepayment fee on an advance that makes it financially indifferent to a member’s decision to prepay the advance. When the FHLBank offers advances (other than short-term advances) that a member may prepay without a prepayment fee, it usually finances these advances with callable debt or otherwise hedges the option being sold to the member. | |||||||||||||||||||
Mortgage Loans – The FHLBank invests in fixed rate mortgage loans through the MPF Program. The prepayment options embedded in these mortgage loans can result in extensions or contractions in the expected lives of these investments, depending on changes in estimated future cash flows, which usually occur as a result of interest rate changes. The FHLBank may manage the interest rate and prepayment risk associated with mortgages through a combination of debt issuance and derivatives. The FHLBank issues both callable and non-callable debt to achieve cash flow patterns and liability durations similar to those expected on the mortgage loans. The FHLBank may use derivatives in conjunction with debt issuance to better match the expected prepayment characteristics of its mortgage loan portfolio. | |||||||||||||||||||
Interest rate caps and floors, swaptions and callable swaps may also be used to hedge prepayment risk on the mortgage loans. Although these derivatives are valid economic hedges against the prepayment risk of the portfolio of mortgage loans, they are not specifically linked to individual loans and, therefore, do not receive either fair value or cash flow hedge accounting. The derivatives are marked-to-market through earnings. | |||||||||||||||||||
Consolidated Obligations – While consolidated obligations are the joint and several obligations of the 12 FHLBanks, each FHLBank enters into derivatives to hedge the interest rate risk associated with its specific debt issuances. The FHLBank manages the risk arising from changing market prices and volatility of a consolidated obligation by matching the cash inflow on the derivative with the cash outflow on the consolidated obligation. | |||||||||||||||||||
For instance, in a typical transaction involving more than one FHLBank, fixed rate consolidated obligation bonds are issued for one or more FHLBanks, including FHLBank Topeka. In connection with its share of the bond issuance, FHLBank Topeka simultaneously enters into a matching derivative in which the clearing agent or derivative counterparty pays fixed cash flows to FHLBank Topeka designed to mirror in timing and amount the cash outflows FHLBank Topeka pays on the consolidated obligation. In this type of transaction, FHLBank Topeka typically pays the clearing agent or derivative counterparty a variable cash flow that closely matches the interest payments it receives on short-term or variable rate advances (typically one- or three-month LIBOR). These transactions are designated as fair value hedges. Note, though, that most of the FHLBank’s swapped consolidated obligation bonds are fixed rate, callable bonds where the FHLBank is the sole issuer of the particular debt issue. The swap transaction with a counterparty for debt upon which the FHLBank is the sole issuer follows the same process reflected above (simultaneous, matching terms, etc.). | |||||||||||||||||||
This strategy of issuing bonds while simultaneously entering into derivatives enables the FHLBank to offer a wider range of attractively priced advances to its members and may allow the FHLBank to reduce its funding costs. The continued attractiveness of this debt depends on yield relationships between the bond and derivative markets. If conditions in these markets change, the FHLBank may alter the types or terms of the bonds that it issues. By acting in both the capital and derivatives markets, the FHLBank can raise funds at lower costs than through the issuance of simple fixed or variable rate consolidated obligations in the capital markets alone. | |||||||||||||||||||
Firm Commitments – Commitments that obligate the FHLBank to purchase closed fixed rate mortgage loans from its members are considered derivatives. Accordingly, each mortgage purchase commitment is recorded as a derivative asset or derivative liability at fair value, with changes in fair value recognized in current period earnings. When a mortgage purchase commitment derivative settles, the current market value of the commitment is included with the basis of the mortgage loan and amortized accordingly. | |||||||||||||||||||
The FHLBank may also hedge a firm commitment for a forward starting advance or consolidated obligation bond through the use of an interest rate swap. In this case, the swap functions as the hedging instrument for both the hedging relationship involving the firm commitment and the subsequent hedging relationship involving the advance or bond. The basis movement associated with the firm commitment is recorded as a basis adjustment of the advance or bond at the time the commitment is terminated and the advance or bond is issued. The basis adjustment is then amortized into interest income or expense over the life of the advance or bond. | |||||||||||||||||||
Anticipated Debt Issuance – The FHLBank enters into interest rate swaps for the anticipated issuance of fixed rate consolidated obligation bonds to hedge the variability in forecasted interest payments associated with fixed rate debt that has not yet been issued. The interest rate swap is terminated upon issuance of the fixed rate bond, with the realized gain or loss on the interest rate swap recorded in OCI. Realized gains and losses reported in AOCI are recognized as earnings in the periods in which earnings are affected by the cash flows of the fixed rate bonds. | |||||||||||||||||||
Financial Statement Impact and Additional Financial Information: The notional amount in derivative contracts serves as a factor in determining periodic interest payments or cash flows received and paid. However, the notional amount of derivatives reflects the FHLBank’s involvement in the various classes of financial instruments and represents neither the actual amounts exchanged nor the overall exposure of the FHLBank to credit and market risk; the overall risk is much smaller. The risks of derivatives can be measured meaningfully on a portfolio basis that takes into account the clearing agents, counterparties, the types of derivatives, the items being hedged and any offsets between the derivatives and the items being hedged. | |||||||||||||||||||
The FHLBank considers accrued interest receivables and payables and the legal right to offset derivative assets and liabilities by clearing agent or derivative counterparty. Consequently, derivative assets and liabilities reported on the Statements of Condition generally include the net cash collateral, including initial or variation margin, and accrued interest received or pledged by clearing agents and/or derivative counterparties. Therefore, an individual derivative may be in an asset position (clearing agent or derivative counterparty would owe the FHLBank the current fair value, which includes net accrued interest receivable or payable on the derivative, if the derivative was settled as of the Statement of Condition date) but when the derivative fair value and cash collateral fair value (includes accrued interest on the collateral) are netted by clearing agent by Clearinghouse, or by derivative counterparty, the derivative may be recorded on the Statements of Condition as a derivative liability. Conversely, a derivative may be in a liability position (FHLBank would owe the clearing agent or derivative counterparty the fair value if settled as of the Statement of Condition date) but may be recorded on the Statements of Condition as a derivative asset after netting. | |||||||||||||||||||
Table 8.1 represents outstanding notional balances and fair values (includes net accrued interest receivable or payable on the derivatives) of the derivatives outstanding by type of derivative and by hedge designation as of December 31, 2013 and 2012 (in thousands): | |||||||||||||||||||
Table 8.1 | |||||||||||||||||||
12/31/13 | 12/31/12 | ||||||||||||||||||
Notional Amount | Derivative Assets | Derivative Liabilities | Notional Amount | Derivative Assets | Derivative Liabilities | ||||||||||||||
Fair value hedges: | |||||||||||||||||||
Interest rate swaps | $ | 10,285,231 | $ | 127,059 | $ | 347,123 | $ | 12,360,157 | $ | 218,909 | $ | 493,515 | |||||||
Interest rate caps/floors | 247,000 | - | 2,648 | 247,000 | - | 4,429 | |||||||||||||
Total fair value hedges | 10,532,231 | 127,059 | 349,771 | 12,607,157 | 218,909 | 497,944 | |||||||||||||
Economic hedges: | |||||||||||||||||||
Interest rate swaps | 3,691,820 | 4,260 | 120,166 | 5,806,320 | 7,607 | 166,890 | |||||||||||||
Interest rate caps/floors | 4,627,800 | 41,463 | 103 | 5,872,800 | 29,761 | 62 | |||||||||||||
Mortgage delivery commitments | 65,620 | 24 | 289 | 106,355 | 102 | 96 | |||||||||||||
Total economic hedges | 8,385,240 | 45,747 | 120,558 | 11,785,475 | 37,470 | 167,048 | |||||||||||||
TOTAL | $ | 18,917,471 | 172,806 | 470,329 | $ | 24,392,632 | 256,379 | 664,992 | |||||||||||
Netting adjustments1 | -161,161 | -161,161 | -204,209 | -204,209 | |||||||||||||||
Cash collateral2 | 16,312 | -200,815 | -27,004 | -337,369 | |||||||||||||||
DERIVATIVE ASSETS AND LIABILITIES | $ | 27,957 | $ | 108,353 | $ | 25,166 | $ | 123,414 | |||||||||||
1Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions and also cash collateral, including initial or variation margin, and related accrued interest held or placed with the same clearing agent and/or derivative counterparty. | |||||||||||||||||||
2Exposure can change on a daily basis; and thus, there is often a short lag time between the date the exposure is identified, collateral is requested and collateral is actually received. Likewise, there is a lag time for excess collateral to be returned. | |||||||||||||||||||
The following tables provide information regarding gains and losses on derivatives and hedging activities by type of hedge and type of derivative and gains and losses by hedged item for fair value hedges. | |||||||||||||||||||
For the years ended December 31, 2013, 2012, and 2011, the FHLBank recorded net gain (loss) on derivatives and hedging activities as presented in Table 8.2 (in thousands): | |||||||||||||||||||
Table 8.2 | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Derivatives and hedge items in fair value hedging relationships: | |||||||||||||||||||
Interest rate swaps | $ | -2,334 | $ | 2,792 | $ | 2,122 | |||||||||||||
Interest rate caps/floors | - | - | -58 | ||||||||||||||||
Total net gain (loss) related to fair value hedge ineffectiveness | -2,334 | 2,792 | 2,064 | ||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||
Economic hedges: | |||||||||||||||||||
Interest rate swaps | 43,347 | 27,428 | -9,870 | ||||||||||||||||
Interest rate caps/floors | 11,682 | -24,032 | -70,577 | ||||||||||||||||
Net interest settlements | -38,519 | -35,174 | -40,489 | ||||||||||||||||
Mortgage delivery commitments | -4,052 | 7,509 | 10,146 | ||||||||||||||||
Intermediary transactions: | |||||||||||||||||||
Interest rate swaps | -17 | -1 | -29 | ||||||||||||||||
Interest rate caps/floors | - | - | 12 | ||||||||||||||||
Total net gain (loss) related to derivatives not designated as hedging instruments | 12,441 | -24,270 | -110,807 | ||||||||||||||||
NET GAIN (LOSS) ON DERIVATIVES AND HEDGING ACTIVITIES | $ | 10,107 | $ | -21,478 | $ | -108,743 | |||||||||||||
The FHLBank carries derivative instruments at fair value on its Statements of Condition. Any change in the fair value of derivatives designated under a fair value hedging relationship is recorded each period in current period earnings. Fair value hedge accounting allows for the offsetting fair value of the hedged risk in the hedged item to also be recorded in current period earnings. For the years ended December 31, 2013, 2012, and 2011, the FHLBank recorded net gain (loss) on derivatives and the related hedged items in fair value hedging relationships and the impact of those derivatives on the FHLBank’s net interest income as presented in Table 8.3 (in thousands): | |||||||||||||||||||
Table 8.3 | |||||||||||||||||||
2013 | |||||||||||||||||||
Gain (Loss) on Derivatives | Gain (Loss) on Hedged Items | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income1 | ||||||||||||||||
Advances | $ | 186,662 | $ | -183,314 | $ | 3,348 | $ | -158,751 | |||||||||||
Consolidated obligation bonds | -158,941 | 153,259 | -5,682 | 101,717 | |||||||||||||||
TOTAL | $ | 27,721 | $ | -30,055 | $ | -2,334 | $ | -57,034 | |||||||||||
2012 | |||||||||||||||||||
Gain (Loss) on Derivatives | Gain (Loss) on Hedged Items | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income1 | ||||||||||||||||
Advances | $ | 44,010 | $ | -45,836 | $ | -1,826 | $ | -186,360 | |||||||||||
Consolidated obligation bonds | -63,877 | 68,515 | 4,638 | 142,355 | |||||||||||||||
Consolidated obligation discount notes | 114 | -134 | -20 | 12 | |||||||||||||||
TOTAL | $ | -19,753 | $ | 22,545 | $ | 2,792 | $ | -43,993 | |||||||||||
2011 | |||||||||||||||||||
Gain (Loss) on Derivatives | Gain (Loss) on Hedged Items | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income1 | ||||||||||||||||
Advances | $ | -113,640 | $ | 111,609 | $ | -2,031 | $ | -234,817 | |||||||||||
Consolidated obligation bonds | 21,401 | -16,970 | 4,431 | 212,243 | |||||||||||||||
Consolidated obligation discount notes | -1,120 | 784 | -336 | 1,254 | |||||||||||||||
TOTAL | $ | -93,359 | $ | 95,423 | $ | 2,064 | $ | -21,320 | |||||||||||
1The differentials between accruals of interest receivables and payables on derivatives designated as fair value hedges as well as the amortization/accretion of hedging activities are recognized as adjustments to the interest income or expense of the designated underlying hedged item. | |||||||||||||||||||
Managing Credit Risk on Derivatives: The FHLBank is subject to credit risk due to the risk of nonperformance by counterparties to its derivative transactions and manages credit risk through credit analyses, collateral requirements and adherence to the requirements set forth in its RMP, U.S. Commodity Futures Trading Commission regulations and Finance Agency regulations. For bilateral derivatives, the degree of credit risk depends on the extent to which master netting arrangements are included in these contracts to mitigate the risk. The FHLBank requires collateral agreements with collateral delivery thresholds on all bilateral derivatives. Additionally, collateral related to derivatives with member institutions includes collateral assigned to the FHLBank, as evidenced by a written security agreement and held by the member institution for the benefit of the FHLBank. | |||||||||||||||||||
For cleared derivatives, the Clearinghouse is the FHLBank’s counterparty. The requirement that the FHLBank posts initial and variation margin through the clearing agent, to the Clearinghouse, exposes the FHLBank 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 is posted daily, through a clearing agent, for changes in the value of cleared derivatives. | |||||||||||||||||||
The FHLBank has analyzed the enforceability of offsetting rights incorporated in its cleared derivative transactions and determined that the exercise of those offsetting rights by a non-defaulting party under these transactions should be upheld under applicable law upon an event of default including a bankruptcy, insolvency or similar proceeding involving the Clearinghouse or the FHLBank’s clearing agent, or both. Based on this analysis, the FHLBank presents a net derivative receivable or payable for all of its transactions through a particular clearing agent with a particular Clearinghouse. | |||||||||||||||||||
Based on credit analyses and collateral requirements, FHLBank management does not anticipate any credit losses on its derivative agreements. The maximum credit risk applicable to a single counterparty was $21,045,000 and $28,512,000 as of December 31, 2013 and 2012, respectively. The counterparty was the same each period. | |||||||||||||||||||
Certain of the FHLBank’s bilateral derivative instruments contain provisions that require the FHLBank to post additional collateral with its counterparties if there is deterioration in the FHLBank’s credit rating. If the FHLBank’s credit rating is lowered by an NRSRO, the FHLBank may be required to deliver additional collateral on bilateral derivative instruments in net liability positions. The aggregate fair value of all bilateral derivative instruments with derivative counterparties containing credit-risk-related contingent features that were in a net derivative liability position (before cash collateral and related accrued interest) as of December 31, 2013 and 2012 was $308,776,000 and $460,626,000, respectively, for which the FHLBank has posted collateral with a fair value of $200,815,000 and $337,369,000, respectively, in the normal course of business. If the FHLBank’s credit rating had been lowered one level (e.g., from double-A to single-A), the FHLBank would have been required to deliver an additional $77,830,000 and $93,770,000 of collateral to its bilateral derivative counterparties as of December 31, 2013 and 2012. | |||||||||||||||||||
For cleared derivatives, the Clearinghouse determines initial margin requirements and 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 FHLBank was not required to post additional initial margin by its clearing agents at December 31, 2013. | |||||||||||||||||||
The FHLBank’s net exposure on derivative agreements is presented in Note 13. | |||||||||||||||||||
Deposits
Deposits | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Deposits [Abstract] | ' | ||||||
Deposits | ' | ||||||
NOTE 9 – DEPOSITS | |||||||
The FHLBank offers demand, overnight and short-term deposit programs to its members and to other qualifying non-members. A member that services mortgage loans may deposit with the FHLBank funds collected in connection with the mortgage loans, pending disbursement of these funds to owners of the mortgage loans. The FHLBank classifies these items as “Non-interest-bearing other deposits.” Table 9.1 details the types of deposits held by the FHLBank as of December 31, 2013 and 2012 (in thousands): | |||||||
Table 9.1 | |||||||
12/31/13 | 12/31/12 | ||||||
Interest-bearing: | |||||||
Demand | $ | 214,645 | $ | 253,527 | |||
Overnight | 686,100 | 824,200 | |||||
Term | 23,800 | 39,900 | |||||
Total interest-bearing | 924,545 | 1,117,627 | |||||
Non-interest-bearing: | |||||||
Demand | 1,357 | 360 | |||||
Other | 35,986 | 63,970 | |||||
Total non-interest-bearing | 37,343 | 64,330 | |||||
TOTAL DEPOSITS | $ | 961,888 | $ | 1,181,957 | |||
Deposits classified as demand and overnight pay interest based on a daily interest rate. Term deposits pay interest based on a fixed rate determined at the issuance of the deposit. The weighted-average interest rates paid on interest-bearing deposits were 0.09 percent, 0.09 percent and 0.13 percent for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||
Consolidated_Obligations
Consolidated Obligations | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Federal Home Loan Bank, Consolidated Obligations [Abstract] | ' | ||||||||||||
Consolidated Obligations | ' | ||||||||||||
NOTE 10 – CONSOLIDATED OBLIGATIONS | |||||||||||||
Consolidated obligations consist of consolidated bonds and discount notes and, as provided by the Bank Act or Finance Agency regulation, are backed only by the financial resources of the FHLBanks. The FHLBanks jointly issue consolidated obligations with the Office of Finance acting as their agent. The Office of Finance tracks the amounts of debt issued on behalf of each FHLBank. In addition, the FHLBank records as a liability its specific portion of consolidated obligations for which it is the primary obligor. The FHLBank utilizes a debt issuance process to provide a scheduled monthly issuance of global bullet consolidated obligation bonds. As part of this process, management from each of the FHLBanks determine and communicate a firm commitment to the Office of Finance for an amount of scheduled global debt to be issued on its behalf. If the FHLBanks’ commitments do not meet the minimum debt issue size, the proceeds are allocated to all FHLBanks based on the larger of the FHLBank’s commitment or allocated proceeds based on the individual FHLBank’s regulatory capital to total system regulatory capital. If the FHLBanks’ commitments exceed the minimum debt issue size, the proceeds are allocated based on relative regulatory capital of the FHLBanks with the allocation limited to the lesser of the allocation amount or actual commitment amount. | |||||||||||||
The Finance Agency and the U.S. Secretary of the Treasury oversee the issuance of FHLBank debt through the Office of Finance. The FHLBanks can, however, pass on any scheduled calendar slot and not issue any global bullet consolidated obligation bonds upon agreement of 8 of the 12 FHLBanks. Consolidated obligation bonds are issued primarily to raise intermediate- and long-term funds for the FHLBanks and are not subject to any statutory or regulatory limits as to maturities. Consolidated obligation discount notes, which are issued to raise short-term funds, are generally issued at less than their face amounts and redeemed at par when they mature. | |||||||||||||
Although the FHLBank is primarily liable for its portion of consolidated obligations, the FHLBank is also jointly and severally liable with the other 11 FHLBanks for the payment of principal and interest on all consolidated obligations of each of the FHLBanks. The Finance Agency, at its discretion, may require any FHLBank to make principal or interest payments due on any consolidated obligations for which the FHLBank is not the primary obligor. Although it has never occurred, to the extent that an FHLBank would be required to make a payment on a consolidated obligation on behalf of another FHLBank, the paying FHLBank would be entitled to reimbursement from the non-complying FHLBank. However, if the Finance Agency determines that the non-complying FHLBank is unable to satisfy its obligations, then the Finance Agency may allocate the non-complying FHLBank’s outstanding consolidated obligation debt among the remaining FHLBanks on a pro rata basis in proportion to each FHLBank’s participation in all consolidated obligations outstanding, or on any other basis the Finance Agency may determine to ensure that the FHLBanks operate in a safe and sound manner. | |||||||||||||
The par value of outstanding consolidated obligations of all FHLBanks, including outstanding consolidated obligations issued on behalf of the FHLBank, was approximately $766,836,903,000 and $687,902,143,000 as of December 31, 2013 and 2012 respectively. See Note 20 for FHLBank obligations acquired by FHLBank Topeka as investments. Finance Agency regulations require that each FHLBank maintain unpledged qualifying assets equal to its participation in the total consolidated obligations outstanding. Qualifying assets are defined as cash; secured advances; assets with an assessment or rating at least equivalent to the current assessment or rating of the consolidated obligations; obligations of or fully guaranteed by the United States; obligations, participations or other instruments of or issued by Fannie Mae or Ginnie Mae; mortgages, obligations or other securities, which are or have ever been sold by Freddie Mac under the Bank Act; and such securities as fiduciary and trust funds may invest in under the laws of the state in which the FHLBank is located. | |||||||||||||
Consolidated Obligation Bonds: Table 10.1 presents the FHLBank’s participation in consolidated obligation bonds outstanding as of December 31, 2013 and 2012 (in thousands): | |||||||||||||
Table 10.1 | |||||||||||||
12/31/13 | 12/31/12 | ||||||||||||
Year of Contractual Maturity | Amount | Weighted Average Interest Rate | Amount | Weighted Average Interest Rate | |||||||||
Due in one year or less | $ | 6,177,700 | 0.74 | % | $ | 6,989,000 | 1.14 | % | |||||
Due after one year through two years | 3,182,300 | 0.69 | 3,774,700 | 1.18 | |||||||||
Due after two years through three years | 1,635,750 | 1.70 | 1,553,000 | 1.32 | |||||||||
Due after three years through four years | 1,397,935 | 2.56 | 1,244,650 | 2.21 | |||||||||
Due after four years through five years | 1,333,940 | 1.79 | 1,476,000 | 2.74 | |||||||||
Thereafter | 6,312,600 | 2.28 | 6,749,900 | 2.45 | |||||||||
Total par value | 20,040,225 | 1.49 | % | 21,787,250 | 1.74 | % | |||||||
Premium | 36,613 | 54,585 | |||||||||||
Discounts | -4,605 | -5,479 | |||||||||||
Hedging adjustments1 | -15,269 | 137,546 | |||||||||||
TOTAL | $ | 20,056,964 | $ | 21,973,902 | |||||||||
1See Note 8 for a discussion of: (1) the FHLBank’s objectives for using derivatives; (2) the types of assets and liabilities hedged; and (3) the accounting for derivatives and the related assets and liabilities hedged. | |||||||||||||
Consolidated obligation bonds are issued with either fixed rate coupon or variable rate coupon payment terms. Variable rate coupon bonds use a variety of indices for interest rate resets including LIBOR, U.S. Treasury bills, Prime, Constant Maturity Treasuries (CMT) and Eleventh District Cost of Funds Index (COFI). In addition, to meet the specific needs of certain investors in consolidated obligation bonds, fixed rate and variable rate bonds may contain certain features that may result in complex coupon payment terms and call features. When the FHLBank issues structured bonds that present interest rate or other risks that are unacceptable to the FHLBank, it will simultaneously enter into derivatives containing offsetting features that effectively alter the terms of the complex bonds to the equivalent of simple fixed rate coupon bonds or variable rate coupon bonds tied to indices such as those detailed above. | |||||||||||||
The FHLBank’s participation in consolidated obligation bonds outstanding as of December 31, 2013 and 2012 includes callable bonds totaling $8,302,000,000 and $8,461,000,000, respectively. The FHLBank uses the unswapped callable bonds for financing its callable advances (Note 5), MBS (Note 4) and mortgage loans (Note 6). Contemporaneous with a portion of its fixed rate callable bond issues, the FHLBank will also enter into interest rate swap agreements (in which the FHLBank generally pays a variable rate and receives a fixed rate) with call features that mirror the options in the callable bonds (a sold callable swap). The combined sold callable swap and callable debt transaction allows the FHLBank to obtain attractively priced variable rate financing. Table 10.2 summarizes the FHLBank’s participation in consolidated obligation bonds outstanding by year of maturity, or by the next call date for callable bonds as of December 31, 2013 and 2012 (in thousands): | |||||||||||||
Table 10.2 | |||||||||||||
Year of Maturity or Next Call Date | 12/31/13 | 12/31/12 | |||||||||||
Due in one year or less | $ | 14,189,700 | $ | 14,900,000 | |||||||||
Due after one year through two years | 3,248,300 | 3,847,700 | |||||||||||
Due after two years through three years | 1,126,750 | 1,024,000 | |||||||||||
Due after three years through four years | 761,935 | 809,650 | |||||||||||
Due after four years through five years | 378,940 | 688,000 | |||||||||||
Thereafter | 334,600 | 517,900 | |||||||||||
TOTAL PAR VALUE | $ | 20,040,225 | $ | 21,787,250 | |||||||||
In addition to having fixed rate or simple variable rate coupon payment terms, consolidated obligation bonds may also have the following broad terms, regarding either the principal repayment or coupon payment: | |||||||||||||
§ | Optional principal redemption bonds (callable bonds) that may be redeemed in whole or in part at the discretion of the FHLBank on predetermined call dates in accordance with terms of bond offerings; | ||||||||||||
§ | Range bonds that have coupons at fixed or variable rates and pay the fixed or variable rate as long as the index rate is within the established range, but generally pay zero percent or a minimal interest rate if the specified index rate is outside the established range; | ||||||||||||
§ | Conversion bonds that have coupons that convert from fixed to variable, or variable to fixed, or from one index to another, on predetermined dates according to the terms of the bond offerings; and | ||||||||||||
§ | Step bonds that have coupons at fixed or variable rates for specified intervals over the lives of the bonds. At the end of each specified interval, the coupon rate or variable rate spread increases (decreases) or steps up (steps down). These bond issues generally contain call provisions enabling the bonds to be called at the FHLBank’s discretion on the step dates. | ||||||||||||
Table 10.3 summarizes interest rate payment terms for consolidated obligation bonds as of December 31, 2013 and 2012 (in thousands): | |||||||||||||
Table 10.3 | |||||||||||||
12/31/13 | 12/31/12 | ||||||||||||
Fixed rate | $ | 11,705,225 | $ | 13,507,250 | |||||||||
Simple variable rate | 5,895,000 | 5,860,000 | |||||||||||
Step up/step down | 2,220,000 | 2,270,000 | |||||||||||
Range | 90,000 | - | |||||||||||
Variable to fixed rate | 85,000 | 85,000 | |||||||||||
Fixed to variable rate | 45,000 | 65,000 | |||||||||||
TOTAL PAR VALUE | $ | 20,040,225 | $ | 21,787,250 | |||||||||
Consolidated Discount Notes: Consolidated discount notes are issued to raise short-term funds. Consolidated discount notes are consolidated obligations with original maturities of up to one year. These consolidated discount notes are generally issued at less than their face amount and redeemed at par value when they mature. | |||||||||||||
Table 10.4 summarizes the FHLBank’s participation in consolidated obligation discount notes, all of which are due within one year (in thousands): | |||||||||||||
Table 10.4 | |||||||||||||
Carrying Value | Par Value | Weighted Average | |||||||||||
Interest Rate1 | |||||||||||||
31-Dec-13 | $ | 10,889,565 | $ | 10,890,528 | 0.08 | % | |||||||
31-Dec-12 | $ | 8,669,059 | $ | 8,670,442 | 0.12 | % | |||||||
1Represents yield to maturity excluding concession fees. | |||||||||||||
Concessions on Consolidated Obligations: Unamortized concessions were $11,629,000 and $12,392,000 as of December 31, 2013 and 2012, respectively, and are included in other assets. Amortization of concessions is included in consolidated obligation interest expense. Amortization of concessions on bonds totaled $5,519,000, $17,948,000 and $12,276,000 in 2013, 2012, and 2011, respectively. Concessions on discount notes totaled $394,000, $177,000 and $210,000 in 2013, 2012, and 2011, respectively. | |||||||||||||
Information about the fair value of the consolidated obligations is included in Note 17. | |||||||||||||
Affordable_Housing_Program
Affordable Housing Program | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Affordable Housing Program [Abstract] | ' | |||||||||
Affordable Housing Program | ' | |||||||||
NOTE 11 – AFFORDABLE HOUSING PROGRAM | ||||||||||
The Bank Act, as amended by the Financial Institutions Reform, Recovery and Enforcement Act of 1989, requires each FHLBank to establish an AHP. As a part of its AHP, the FHLBank provides subsidies in the form of direct grants or below-market interest rate advances to members that use the funds to assist in the purchase, construction or rehabilitation of housing for very low-, low- and moderate-income households. By regulation, to fund the AHP, the 12 district FHLBanks as a group must annually set aside the greater of $100,000,000 or 10 percent of the current year’s net earnings. For purposes of the AHP calculation, the term “net earnings” is defined as income before interest expense related to mandatorily redeemable capital stock and the assessment for AHP. The FHLBank accrues this expense monthly based on its net earnings. | ||||||||||
The amount set aside for AHP is charged to expense and recognized as a liability. As subsidies are provided through the disbursement of grants or issuance of subsidized advances, the AHP liability is reduced accordingly. If the FHLBank’s net earnings before AHP would ever be zero or less, the amount of AHP liability would generally be equal to zero. However, if the result of the aggregate 10 percent calculation described above is less than the $100,000,000 minimum for all 12 FHLBanks, then the Bank Act requires the shortfall to be allocated among the FHLBanks based on the ratio of each FHLBank’s income for the previous year. If an FHLBank determines that its required AHP contributions are exacerbating any financial instability of that FHLBank, it may apply to the Finance Agency for a temporary suspension of its AHP contributions. The FHLBank has never applied to the Finance Agency for a temporary suspension of its AHP contributions. | ||||||||||
As of December 31, 2013, the FHLBank’s AHP accrual on its Statements of Condition consisted of $18,059,000 for the 2014 AHP (uncommitted, including amounts recaptured and reallocated from prior years) and $17,205,000 for prior years’ AHP (committed but undisbursed). | ||||||||||
Table 11.1 details the change in the AHP liability for the years ended December 31, 2013, 2012, and 2011 (in thousands): | ||||||||||
Table 11.1 | ||||||||||
2013 | 2012 | 2011 | ||||||||
Appropriated and reserved AHP funds as of the beginning of the period | $ | 31,198 | $ | 31,392 | $ | 39,226 | ||||
AHP set aside based on current year income | 13,229 | 12,261 | 8,611 | |||||||
Direct grants disbursed | -10,245 | -13,210 | -16,984 | |||||||
Recaptured funds1 | 1,082 | 755 | 539 | |||||||
APPROPRIATED AND RESERVED AHP FUNDS AS OF THE END OF THE PERIOD | $ | 35,264 | $ | 31,198 | $ | 31,392 | ||||
1Recaptured funds are direct grants returned to the FHLBank in those instances where the commitments associated with the approved use of funds are not met and repayment to the FHLBank is required by regulation. Recaptured funds are returned as a result of: (1) AHP-assisted homeowner’s transfer or sale of property within the five-year retention period that the assisted homeowner is required to occupy the property; (2) homeowner’s failure to acquire sufficient loan funding (funds previously approved and disbursed cannot be used); (3) over-subsidized projects; or (4) unused grants. | ||||||||||
Resolution_Funding_Corporation
Resolution Funding Corporation (REFCORP) | 12 Months Ended |
Dec. 31, 2013 | |
Resolution Funding Corporation [Abstract] | ' |
Resolution Funding Corporation Text Block | ' |
NOTE 12 – RESOLUTION FUNDING CORPORATION (REFCORP) | |
On August 5, 2011, the Finance Agency certified that the FHLBanks had fully satisfied their REFCORP obligation with their payments made on July 15, 2011, which were accrued as applicable in each FHLBank’s June 30, 2011 financial statements. The FHLBanks entered into a JCE Agreement, as amended, which requires each FHLBank to allocate 20 percent of its net income to a separate restricted retained earnings account, beginning in the third quarter of 2011. See Note 14 for further discussion regarding establishment of a separate RRE Account and the JCE Agreement. | |
Prior to the satisfaction of the FHLBanks’ REFCORP obligation, each FHLBank had been required to pay 20 percent of income calculated in accordance with GAAP after the assessment for AHP, but before the assessment for REFCORP. The FHLBanks expensed these amounts until the aggregate amount actually paid by all 12 FHLBanks was equivalent to a $300,000,000 annual annuity (or a scheduled payment of $75,000,000 per quarter) whose final maturity date was April 15, 2030. The Finance Agency in consultation with the Secretary of the Treasury selected the appropriate discounting factors to be used in this annuity calculation. | |
Assets_and_Liabilities_Subject
Assets and Liabilities Subject to Offsetting | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Offsetting [Abstract] | ' | |||||||||||||||
Assets and Liabilities Subject to Offsetting [Text Block] | ' | |||||||||||||||
NOTE 13 – ASSETS AND LIABILITIES SUBJECT TO OFFSETTING | ||||||||||||||||
The FHLBank presents certain financial instruments, including derivatives, repurchase agreements and securities purchased under agreements to resell, on a net basis by clearing agent by Clearinghouse, or by counterparty, when it has met the netting requirements. For these financial instruments, the FHLBank has elected to offset its asset and liability positions, as well as cash collateral, including initial and variation margin, received or pledged and associated accrued interest. | ||||||||||||||||
Tables 13.1 and 13.2 present the fair value of financial assets, including the related collateral received from or pledged to clearing agents or counterparties, based on the terms of the FHLBank’s master netting arrangements or similar agreements as of December 31, 2013 and 2012 (in thousands): | ||||||||||||||||
Table 13.1 | ||||||||||||||||
12/31/13 | ||||||||||||||||
Description | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Statement of Condition | Net Amounts of Assets Presented in the Statement of Condition | Gross Amounts Not Offset in the Statement of Condition1 | Net Amount | |||||||||||
Derivative assets: | ||||||||||||||||
Bilateral derivatives | $ | 165,894 | $ | -150,968 | $ | 14,926 | $ | -24 | $ | 14,902 | ||||||
Cleared derivatives | 6,912 | 6,119 | 13,031 | - | 13,031 | |||||||||||
TOTAL | $ | 172,806 | $ | -144,849 | $ | 27,957 | $ | -24 | $ | 27,933 | ||||||
1Represents noncash collateral received on financial instruments that: (1) do not qualify for netting on the Statement of Condition; or (2) are not subject to an enforceable netting agreement (e.g., mortgage delivery commitments). | ||||||||||||||||
Table 13.2 | ||||||||||||||||
12/31/12 | ||||||||||||||||
Description | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Statement of Condition | Net Amounts of Assets Presented in the Statement of Condition | Gross Amounts Not Offset in the Statement of Condition1 | Net Amount | |||||||||||
Bilateral derivatives | $ | 256,379 | $ | -231,213 | $ | 25,166 | $ | -278 | $ | 24,888 | ||||||
Securities purchased under agreements to resell | 1,999,288 | - | 1,999,288 | -1,999,288 | - | |||||||||||
TOTAL | $ | 2,255,667 | $ | -231,213 | $ | 2,024,454 | $ | -1,999,566 | $ | 24,888 | ||||||
1Represents noncash collateral received on financial instruments that: (1) do not qualify for netting on the Statement of Condition; or (2) are not subject to an enforceable netting agreement (e.g., mortgage delivery commitments). | ||||||||||||||||
Tables 13.3 and 13.4 present the fair value of financial liabilities, including the related collateral received from or pledged to counterparties, based on the terms of the FHLBank’s master netting arrangements or similar agreements as of December 31, 2013 and 2012 (in thousands): | ||||||||||||||||
Table 13.3 | ||||||||||||||||
12/31/13 | ||||||||||||||||
Description | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Statement of Condition | Net Amounts of Liabilities Presented in the Statement of Condition | Gross Amounts Not Offset in the Statement of Condition1 | Net Amount | |||||||||||
Derivative liabilities | ||||||||||||||||
Bilateral derivatives | $ | 470,290 | $ | -361,937 | $ | 108,353 | $ | -392 | $ | 107,961 | ||||||
Cleared derivatives | 39 | -39 | - | - | - | |||||||||||
TOTAL | $ | 470,329 | $ | -361,976 | $ | 108,353 | $ | -392 | $ | 107,961 | ||||||
1Represents noncash collateral received on financial instruments that: (1) do not qualify for netting on the Statement of Condition; or (2) are not subject to an enforceable netting agreement (e.g., mortgage delivery commitments). | ||||||||||||||||
Table 13.4 | ||||||||||||||||
12/31/12 | ||||||||||||||||
Description | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Statement of Condition | Net Amounts of Liabilities Presented in the Statement of Condition | Gross Amounts Not Offset in the Statement of Condition1 | Net Amount | |||||||||||
Bilateral derivatives | $ | 664,992 | $ | -541,578 | $ | 123,414 | $ | -157 | $ | 123,257 | ||||||
1Represents noncash collateral received on financial instruments that: (1) do not qualify for netting on the Statement of Condition; or (2) are not subject to an enforceable netting agreement (e.g., mortgage delivery commitments). | ||||||||||||||||
Capital
Capital | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Capital [Abstract] | ' | ||||||||||||
Capital | ' | ||||||||||||
NOTE 14 – CAPITAL | |||||||||||||
The FHLBank is subject to three capital requirements under the provisions of the Gramm-Leach-Bliley Act (GLB Act) and the Finance Agency’s capital structure regulation. Regulatory capital does not include AOCI but does include mandatorily redeemable capital stock. | |||||||||||||
▪ | Risk-based capital. The FHLBank must maintain at all times permanent capital in an amount at least equal to the sum of its credit risk, market risk and operations risk capital requirements. The risk-based capital requirements are all calculated in accordance with the rules and regulations of the Finance Agency. Only permanent capital, defined as Class B Common Stock and retained earnings, can be used by the FHLBank to satisfy its risk-based capital requirement. The Finance Agency may require the FHLBank to maintain a greater amount of permanent capital than is required by the risk-based capital requirement as defined, but the Finance Agency has not placed any such requirement on the FHLBank to date. | ||||||||||||
▪ | Total regulatory capital. The GLB Act requires the FHLBank to maintain at all times at least a 4.0 percent total capital-to-asset ratio. Total regulatory capital is defined as the sum of permanent capital, Class A stock, any general loss allowance, if consistent with GAAP and not established for specific assets, and other amounts from sources determined by the Finance Agency as available to absorb losses. | ||||||||||||
▪ | Leverage capital. The FHLBank is required to maintain at all times a leverage capital-to-assets ratio of at least 5.0 percent, with the leverage capital ratio defined as the sum of permanent capital weighted 1.5 times and non-permanent capital (currently only Class A Common Stock) weighted 1.0 times, divided by total assets. | ||||||||||||
Table 14.1 illustrates that the FHLBank was in compliance with its regulatory capital requirements as of December 31, 2013 and 2012 (in thousands): | |||||||||||||
Table 14.1 | |||||||||||||
12/31/13 | 12/31/12 | ||||||||||||
Required | Actual | Required | Actual | ||||||||||
Regulatory capital requirements: | |||||||||||||
Risk-based capital | $ | 414,914 | $ | 1,389,646 | $ | 300,742 | $ | 1,340,740 | |||||
Total regulatory capital-to-asset ratio | 4.0 | % | 5.4 | % | 4.0 | % | 5.2 | % | |||||
Total regulatory capital | $ | 1,358,012 | $ | 1,824,345 | $ | 1,352,745 | $ | 1,751,403 | |||||
Leverage capital ratio | 5.0 | % | 7.4 | % | 5.0 | % | 7.2 | % | |||||
Leverage capital | $ | 1,697,515 | $ | 2,519,168 | $ | 1,690,931 | $ | 2,421,772 | |||||
The FHLBank offers two classes of stock, Class A Common Stock and Class B Common Stock. Each member is required to hold capital stock to become and remain a member of the FHLBank (Asset-based Stock Purchase Requirement; Class A Common Stock) and enter into specified activities with the FHLBank including, but not limited to, access to the FHLBank’s credit products and selling AMA to the FHLBank (Activity-based Stock Purchase Requirement; Class A Common Stock to the extent of a member’s Asset-based Stock Purchase Requirement, then Class B Common Stock for the remainder). The amount of Class A Common Stock a member must acquire and maintain is the Asset-based Stock Purchase Requirement, which is currently equal to 0.1 percent of a member’s total assets as of December 31 of the preceding calendar year, with a minimum requirement of $1,000, and a maximum requirement of $500,000. The amount of Class B Common Stock a member must acquire and maintain is the Activity-based Stock Purchase Requirement, which is currently equal to 5.0 percent of the principal amount of advances outstanding to the member less the member’s Asset-based Stock Purchase Requirement. There are currently no Activity-based Stock Purchase Requirements for AMA, letters of credit or derivatives. | |||||||||||||
The percentages listed above are subject to change by the FHLBank within ranges established in its capital plan. Changes to the percentages outside of the capital plan percentages require the FHLBank to request Finance Agency approval of an amended capital plan. See Note 19 for detailed information on transactions with related parties. | |||||||||||||
Any member may make a written request not in connection with a notice of withdrawal or attaining nonmember status for the redemption of a part of its Class A Common Stock or all or part of its Class B Common Stock (i.e., excess stock redemption request). Within five business days of receipt of a member’s written redemption request, the FHLBank may notify the member that it declines to repurchase the excess stock before the end of that five business day period, at which time the applicable redemption period shall commence. Otherwise, the FHLBank will repurchase any excess stock within the five business day period. The redemption periods are six months for Class A Common Stock and five years for Class B Common Stock. Subject to certain limitations, the FHLBank may choose to repurchase a member’s excess stock on or before the end of the applicable redemption period. | |||||||||||||
The GLB Act made membership voluntary for all members. As outlined in the FHLBank’s capital plan, members that withdraw from membership must wait five years from the divestiture date for all capital stock that is held as a condition of membership (Class A Common Stock up to member’s Asset-based Stock Purchase Requirement), unless the member cancels its notice of withdrawal prior to that date, before being readmitted to membership in any FHLBank. | |||||||||||||
The FHLBank’s board of directors may declare and pay non-cumulative dividends, expressed as a percentage rate per annum based upon the par value of capital stock on shares of Class A Common Stock outstanding and on shares of Class B Common Stock outstanding, out of previously unrestricted retained earnings and current earnings in either cash or Class B Common Stock. There is no dividend preference between Class A Common Stockholders and Class B Common Stockholders up to the Dividend Parity Threshold (DPT). Dividend rates in excess of the DPT may be paid on Class A Common Stock or Class B Common Stock at the discretion of the board of directors, provided, however, that the dividend rate paid per annum on the Class B Common Stock equals or exceeds the dividend rate per annum paid on the Class A Common Stock for any dividend period. The DPT can be changed at any time by the board of directors but will only be effective for dividends paid at least 90 days after the date members are notified by the FHLBank. The DPT effective for dividends paid during 2013, 2012, and 2011 was equal to the average overnight Federal funds effective rate minus 100 basis points. This DPT will continue to be effective until such time as it may be changed by the FHLBank’s board of directors. When the overnight Federal funds effective rate is below 1.00 percent, the DPT is zero percent for that dividend period (DPT is floored at zero). | |||||||||||||
The board of directors cannot declare a dividend if: (1) the FHLBank’s capital position is below its minimum regulatory capital requirements; (2) the FHLBank’s capital position will be below its minimum regulatory capital requirements after paying the dividend; (3) the principal or interest due on any consolidated obligation of the FHLBank has not been paid in full; (4) the FHLBank fails to provide the Finance Agency the quarterly certification prior to declaring or paying dividends for a quarter; or (5) the FHLBank fails to provide notification upon its inability to provide such certification or upon a projection that it will fail to comply with statutory or regulatory liquidity requirements or will be unable to timely and fully meet all of its current obligations. | |||||||||||||
Restricted Retained Earnings: Effective February 28, 2011, the FHLBank entered into a JCE Agreement with the other 11 FHLBanks. The JCE Agreement is intended to enhance the capital position of each FHLBank and allocates that portion of each FHLBank’s earnings historically paid to satisfy its REFCORP obligation to a separate retained earnings account at that FHLBank. See Note 12 for a discussion of the calculation of the REFCORP assessment and satisfaction of that liability. | |||||||||||||
The JCE Agreement provides that, upon satisfaction of the FHLBanks’ obligations to REFCORP, each FHLBank will, on a quarterly basis, allocate at least 20 percent of its net income to a separate RRE Account until the balance of that account equals at least one percent of that FHLBank’s average balance of outstanding consolidated obligations for the previous quarter. These restricted retained earnings are not available to pay dividends. | |||||||||||||
Mandatorily Redeemable Capital Stock: The FHLBank is a cooperative whose members and former members own all of the FHLBank’s capital stock. Member shares cannot be purchased or sold except between the FHLBank and its members at its $100 per share par value. If a member cancels its written notice of redemption or notice of withdrawal, the FHLBank will reclassify mandatorily redeemable capital stock from a liability to equity. After the reclassification, dividends on the capital stock would no longer be classified as interest expense. | |||||||||||||
Table 14.2 provides the related dollar amounts for activities recorded in “Mandatorily redeemable capital stock” during the years ended December 31, 2013, 2012, and 2011 (in thousands): | |||||||||||||
Table 14.2 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at beginning of period | $ | 5,665 | $ | 8,369 | $ | 19,550 | |||||||
Capital stock subject to mandatory redemption reclassified from equity during the period | 356,841 | 381,687 | 301,438 | ||||||||||
Capital stock previously subject to mandatory redemption reclassified to equity | - | -4 | -90 | ||||||||||
Redemption or repurchase of mandatorily redeemable capital stock during the period | -357,765 | -384,425 | -312,698 | ||||||||||
Stock dividend classified as mandatorily redeemable capital stock during the period | 23 | 38 | 169 | ||||||||||
Balance at end of period | $ | 4,764 | $ | 5,665 | $ | 8,369 | |||||||
The Finance Agency issued a regulatory interpretation confirming that the mandatorily redeemable capital stock accounting treatment for certain shares of FHLBank capital stock does not affect the definition of regulatory capital for purposes of determining the FHLBank’s compliance with its regulatory capital requirements, calculating its mortgage securities investment authority (various percentages of total FHLBank capital depending on the date acquired), calculating its unsecured credit exposure to other GSEs (100 percent of total FHLBank capital) or calculating its unsecured credit limits to other counterparties (various percentages of total FHLBank capital depending on the rating of the counterparty). | |||||||||||||
Table 14.3 shows the amount of mandatorily redeemable capital stock by contractual year of redemption as of December 31, 2013 and 2012 (in thousands). The year of redemption in Table 14.3 is the end of the redemption period in accordance with the FHLBank’s capital plan. The FHLBank is not required to redeem or repurchase membership stock until six months (Class A Common Stock) or five years (Class B Common Stock) after the FHLBank receives notice for withdrawal. Additionally, the FHLBank is not required to redeem or repurchase activity-based stock until any activity-based stock becomes excess stock as a result of an activity no longer remaining outstanding. However, the FHLBank intends to repurchase the excess activity-based stock of non-members to the extent that it can do so and still meet its regulatory capital requirements. | |||||||||||||
Table 14.3 | |||||||||||||
Contractual Year of Repurchase | 12/31/13 | 12/31/12 | |||||||||||
Year 1 | $ | 166 | $ | - | |||||||||
Year 2 | 52 | 1 | |||||||||||
Year 3 | - | 303 | |||||||||||
Year 4 | - | - | |||||||||||
Year 5 | 74 | - | |||||||||||
Past contractual redemption date due to remaining activity1 | 4,472 | 5,361 | |||||||||||
TOTAL | $ | 4,764 | $ | 5,665 | |||||||||
1Represents mandatorily redeemable capital stock that is past the end of the contractual redemption period because there is activity outstanding to which the mandatorily redeemable capital stock relates. | |||||||||||||
A member may cancel or revoke its written redemption request prior to the end of the redemption period (six months for Class A Common Stock and five years for Class B Common Stock) or its written notice of withdrawal from membership prior to the end of a six-month period starting on the date the FHLBank received the member’s written notice of withdrawal from membership. At the end of the six-month period, the member’s membership is terminated and the Class A Common Stock held to meet its Asset-based Stock Purchase Requirement will be redeemed by the FHLBank, as long as the FHLBank will continue to meet its regulatory capital requirements and as long as the Class A Common Stock is not needed to meet the former member’s Activity-based Stock Purchase Requirements. The FHLBank’s capital plan provides that the FHLBank will charge the member a cancellation fee in accordance with a schedule where the amount of the fee increases with the passage of time, the fee being 1.0 percent for any Class A Common Stock cancellation and starting at 1.0 percent in year one for Class B Common Stock and increasing by 1.0 percent each year to a maximum of 5.0 percent for cancellations in the fifth year for Class B Common Stock. During 2012, the FHLBank’s Board of Directors terminated the memberships of two members after their placement into FDIC receivership. During 2011, the FHLBank’s Board of Directors terminated the memberships of eight members after their placement into FDIC receivership. As of December 31, 2013, the balance of mandatorily redeemable capital stock represented two former members in FDIC receivership and nine out-of-district mergers. | |||||||||||||
Excess Capital Stock: Excess capital stock is defined as the amount of stock held by a member (or former member) in excess of that institution’s minimum stock purchase requirement. Finance Agency rules limit the ability of the FHLBank to create member excess stock under certain circumstances. The FHLBank may not pay dividends in the form of capital stock or issue new excess stock to members if the FHLBank’s excess stock exceeds one percent of its total assets or if the issuance of excess stock would cause the FHLBank’s excess stock to exceed one percent of its total assets. As of December 31, 2013, the FHLBank’s excess stock was less than one percent of total assets. | |||||||||||||
Capital Classification Determination: The Finance Agency implemented the prompt corrective action (PCA) provisions of the Housing and Economic Recovery Act of 2008. The rule established four capital classifications (i.e., adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized) for FHLBanks and implemented the PCA provisions that apply to FHLBanks that are not deemed to be adequately capitalized. The Finance Agency determines each FHLBank’s capital classification on at least a quarterly basis. If an FHLBank is determined to be other than adequately capitalized, the FHLBank becomes subject to additional supervisory authority by the Finance Agency. Before implementing a reclassification, the Director of the Finance Agency is required to provide the FHLBank with written notice of the proposed action and an opportunity to submit a response. As of the most recent review by the Finance Agency, the FHLBank has been classified as adequately capitalized. | |||||||||||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Accumulated Other Comprehensive Income [Abstract] | ' | |||||||||
Accumulated Other Comprehensive Income | ' | |||||||||
NOTE 15 – ACCUMULATED OTHER COMPREHENSIVE INCOME | ||||||||||
Table 15.1 summarizes the changes in AOCI for the years ended December 31, 2013, 2012, and 2011 (in thousands): | ||||||||||
Table 15.1 | ||||||||||
Net Non-credit Portion of OTTI Losses on Held-to-maturity Securities | Defined Benefit Pension Plan | Total AOCI | ||||||||
BALANCE - DECEMBER 31, 2010 | $ | -19,291 | $ | -3,381 | $ | -22,672 | ||||
Other comprehensive income (loss) before reclassification: | ||||||||||
Non-credit OTTI losses | -12,144 | -12,144 | ||||||||
Accretion of non-credit OTTI losses | 4,507 | 4,507 | ||||||||
Net gain (loss) - defined benefit pension plan | -1,020 | -1,020 | ||||||||
Reclassifications from other comprehensive income (loss) to net income: | ||||||||||
Non-credit OTTI to credit OTTI1 | 3,169 | 3,169 | ||||||||
Amortization of net loss - defined benefit pension plan2 | 319 | 319 | ||||||||
Net current period other comprehensive income (loss) | -4,468 | -701 | -5,169 | |||||||
BALANCE - DECEMBER 31, 2011 | -23,759 | -4,082 | -27,841 | |||||||
Other comprehensive income (loss) before reclassification: | ||||||||||
Non-credit OTTI losses | -4,634 | -4,634 | ||||||||
Accretion of non-credit OTTI losses | 6,358 | 6,358 | ||||||||
Net gain (loss) - defined benefit pension plan | -661 | -661 | ||||||||
Reclassifications from other comprehensive income (loss) to net income: | ||||||||||
Non-credit OTTI to credit OTTI1 | 1,189 | 1,189 | ||||||||
Amortization of net loss - defined benefit pension plan2 | 332 | 332 | ||||||||
Net current period other comprehensive income (loss) | 2,913 | -329 | 2,584 | |||||||
BALANCE - DECEMBER 31, 2012 | -20,846 | -4,411 | -25,257 | |||||||
Other comprehensive income (loss) before reclassification: | ||||||||||
Non-credit OTTI losses | -19 | -19 | ||||||||
Accretion of non-credit OTTI losses | 4,340 | 4,340 | ||||||||
Net gain (loss) - defined benefit pension plan | 1,667 | 1,667 | ||||||||
Reclassifications from other comprehensive income (loss) to net income: | ||||||||||
Non-credit OTTI to credit OTTI1 | 522 | 522 | ||||||||
Amortization of net loss - defined benefit pension plan2 | 386 | 386 | ||||||||
Net current period other comprehensive income (loss) | 4,843 | 2,053 | 6,896 | |||||||
BALANCE - DECEMBER 31, 2013 | $ | -16,003 | $ | -2,358 | $ | -18,361 | ||||
1Recorded in “Net other-than-temporary impairment losses on held-to-maturity securities” on the Statements of Income. Amount represents a debit (decrease to other income (loss)). | ||||||||||
2Recorded in “Compensation and benefits” on the Statements of Income. Amount represents a debit (increase to other expenses). | ||||||||||
Pension_And_Postretirement_Ben
Pension And Postretirement Benefit Plans | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Pension And Postretirement Benefit Plans [Abstract] | ' | |||||||||
Pension And Postretirement Benefit Plans | ' | |||||||||
NOTE 16 – PENSION AND POSTRETIREMENT BENEFIT PLANS | ||||||||||
Qualified Defined Benefit Multiemployer Plan: The FHLBank participates in the Pentegra Defined Benefit Plan for Financial Institutions (Pentegra Defined Benefit Plan), a tax-qualified defined benefit pension plan. The Pentegra Defined Benefit Plan is treated as a multiemployer plan for accounting purposes but operates as a multiple-employer plan under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code. As a result, certain multiemployer plan disclosures, including certified zone status, are not applicable to the Pentegra Defined Benefit Plan. Under the Pentegra Defined Benefit Plan, contributions made by a participating employer may be used to provide benefits to employees of other participating employers because assets contributed by an employer are not segregated in a separate account or restricted to provide benefits only to employees of that employer. Also, in the event a participating employer is unable to meet its contribution requirements, the required contributions for the other participating employers could increase proportionately. | ||||||||||
The Pentegra Defined Benefit Plan covers substantially all officers and employees of the FHLBank who began employment prior to January 1, 2009. | ||||||||||
The Pentegra Defined Benefit Plan operates on a fiscal year from July 1 through June 30 and files one Form 5500 on behalf of all employers who participate in the plan. The Employer Identification Number is 13-5645888 and the three-digit plan number is 333. There are no collective bargaining agreements in place at the FHLBank. | ||||||||||
The Pentegra Defined Benefit Plan’s annual valuation process includes calculating the plan’s funded status and separately calculating the funded status of each participating employer. The funded status is defined as the market value of assets divided by the funding target (100 percent of the present value of all benefit liabilities accrued at that date). As permitted by ERISA, the Pentegra Defined Benefit Plan accepts contributions for the prior plan year up to eight and a half months after the asset valuation date. As a result, the market value of assets at the valuation date (July 1) will increase by any subsequent contributions designated for the immediately preceding plan year ended June 30. | ||||||||||
The most recent Form 5500 available for the Pentegra Defined Benefit Plan is for the year ended June 30, 2012. For the Pentegra Defined Benefit Plan years ended June 30, 2012 and 2011, the FHLBank’s contributions did not represent more than five percent of the total contributions to the Pentegra Defined Benefit Plan. The pension provisions under Moving Ahead for Progress in the 21st Century (MAP-21), enacted July 6, 2012, changed the discount rate to be used in the valuation of future benefits. The increased rates will decrease the valuation as well as the minimum required contributions. By maintaining a level of funding comparative to prior periods (contributing more than the minimum required contribution), the FHLBank is effectively increasing its funded status in the short-term. Table 16.1 presents the net pension cost and funded status of the FHLBank relating to the Pentegra Defined Benefit Plan (amounts in thousands): | ||||||||||
Table 16.1 | ||||||||||
2013 | 2012 | 2011 | ||||||||
Net pension cost charged to compensation and benefits expense | $ | 2,510 | $ | 3,419 | $ | 4,864 | ||||
Pentegra Defined Benefit Plan funded status as of July 11 | 101.3 | % | 108.4 | % | 90.3 | % | ||||
FHLBank's funded status as of July 1 | 105.6 | % | 112.4 | % | 92.5 | % | ||||
1The funded status as of July 1, 2013 using the MAP-21 discount rate is preliminary and may increase because the plan’s participants were permitted to make contributions for the plan year ended June 30, 2013 through March 15, 2014. Contributions made on or before March 15, 2014, and designated for the plan year ended June 30, 2013, will be included in the final valuation as of July 1, 2013. The final funded status as of July 1, 2013 will not be available until the Form 5500 for the plan year July 1, 2013 through June 30, 2014 is filed (this Form 5500 is due to be filed no later than April 2015). The funded status as of July 1, 2012 is preliminary and may increase because the plan’s participants were permitted to make contributions for the plan year ended June 30, 2012 through March 15, 2013. Contributions made on or before March 15, 2013, and designated for the plan year ended June 30, 2012, will be included in the final valuation as of July 1, 2012. The final funded status as of July 1, 2012 will not be available until the Form 5500 for the plan year July 1, 2012 through June 30, 2013 is filed (this Form 5500 is due to be filed no later than April 2014). | ||||||||||
Qualified Defined Contribution Plans: The FHLBank also participates in the Pentegra Defined Contribution Plan for Financial Institutions, a tax-qualified, defined contribution pension plan. Substantially all officers and employees of the FHLBank are covered by the plan. The FHLBank contributes a matching amount equal to a percentage of voluntary employee contributions, subject to certain limitations. The FHLBank’s contributions of $962,000, $840,000 and $739,000 to the Pentegra Defined Contribution Plan in 2013, 2012, and 2011, respectively, were charged to compensation and benefits expense. | ||||||||||
Nonqualified Supplemental Retirement Plan: The FHLBank maintains a benefit equalization plan (BEP) covering certain senior officers. This non-qualified plan contains provisions for a deferred compensation component and a defined benefit pension component. The BEP is, in substance, an unfunded supplemental retirement plan. The cost of the defined benefit pension component of the BEP charged to compensation and benefits expense was $1,295,000, $1,214,000 and $1,150,000 in 2013, 2012, and 2011, respectively. Compensation and benefits expense and other interest expense include deferred compensation and accrued earnings under the BEP of $427,000, $305,000 and $250,000 in 2013, 2012, and 2011, respectively. | ||||||||||
As indicated, the BEP is a supplemental retirement plan for covered retirees. There are no funded plan assets that have been designated to provide for the deferred compensation component or defined benefit pension component of the BEP. The obligations and funding status of the defined benefit portion of the FHLBank’s BEP as of December 31, 2013 and 2012 are presented in Table 16.2 (in thousands): | ||||||||||
Table 16.2 | ||||||||||
2013 | 2012 | |||||||||
Change in benefit obligation: | ||||||||||
Projected benefit obligation at beginning of year | $ | 11,911 | $ | 10,603 | ||||||
Service cost | 469 | 433 | ||||||||
Interest cost | 437 | 439 | ||||||||
Benefits paid | -225 | -225 | ||||||||
Net (gain) loss | -1,667 | 661 | ||||||||
Projected benefit obligation at end of year | 10,925 | 11,911 | ||||||||
Change in plan assets: | ||||||||||
Fair value of plan assets at beginning of year | - | - | ||||||||
Employer contributions | 225 | 225 | ||||||||
Benefits paid | -225 | -225 | ||||||||
Fair value of plan assets at end of year | - | - | ||||||||
FUNDED STATUS | $ | 10,925 | $ | 11,911 | ||||||
Table 16.3 presents the components of the net periodic pension cost for the defined benefit portion of the FHLBank’s BEP for the years ended December 31, 2013, 2012, and 2011 (in thousands): | ||||||||||
Table 16.3 | ||||||||||
2013 | 2012 | 2011 | ||||||||
Service cost | $ | 469 | $ | 433 | $ | 373 | ||||
Interest cost | 437 | 439 | 451 | |||||||
Amortization of net loss | 386 | 332 | 319 | |||||||
NET PERIODIC POSTRETIREMENT BENEFIT COST | $ | 1,292 | $ | 1,204 | $ | 1,143 | ||||
The estimated actuarial (gain) loss that will be amortized from AOCI into net periodic benefits costs over the next fiscal year is $181,000. | ||||||||||
The measurement date used to determine the current year’s benefit obligation was December 31, 2013. | ||||||||||
Table 16.4 presents the key assumptions and other information for the actuarial calculations for the defined benefit portion of the FHLBank’s BEP for the years ended December 31, 2013, 2012 and 2011 (dollar amounts in thousands): | ||||||||||
Table 16.4 | ||||||||||
2013 | 2012 | 2011 | ||||||||
Discount rate - benefit obligation | 4.75 | % | 3.75 | % | 4.20 | % | ||||
Discount rate - net periodic benefit cost | 3.75 | % | 4.20 | % | 5.25 | % | ||||
Salary increases | 5.03 | % | 5.06 | % | 4.92 | % | ||||
Amortization period (years) | 8 | 9 | 7 | |||||||
Accumulated benefit obligation | $ | 9,220 | $ | 9,904 | $ | 8,517 | ||||
The FHLBank estimates that its required contributions to the defined benefit portion of the FHLBank’s BEP for the year ended December 31, 2014 will be $319,000. | ||||||||||
The FHLBank’s estimated future benefit payments are presented in Table 16.5 (in thousands): | ||||||||||
Table 16.5 | ||||||||||
The estimated benefits to be paid by the FHLBank under the defined benefit portion of the BEP for the next five fiscal years and the combined five fiscal years thereafter are provided in the following table (in thousands): | ||||||||||
Year ending December 31, | Estimated Benefit Payments | |||||||||
2014 | $ | 319 | ||||||||
2015 | 360 | |||||||||
2016 | 407 | |||||||||
2017 | 472 | |||||||||
2018 | 559 | |||||||||
2019 through 2023 | 4,283 | |||||||||
Fair_Values
Fair Values | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Fair Values [Abstract] | ' | ||||||||||||||||||
Fair Values | ' | ||||||||||||||||||
NOTE 17 – FAIR VALUES | |||||||||||||||||||
The fair value amounts recorded on the Statements of Condition and presented in the note disclosures have been determined by the FHLBank using available market and other pertinent information and reflect the FHLBank’s best judgment of appropriate valuation methods. Although the FHLBank uses its best judgment in estimating the fair value of its financial instruments, there are inherent limitations in any valuation technique. Therefore, the fair values may not be indicative of the amounts that would have been realized in market transactions as of December 31, 2013 and 2012. | |||||||||||||||||||
Subjectivity of Estimates: Estimates of the fair value of advances with options, mortgage instruments, derivatives with embedded options and consolidated obligation bonds with options using the methods described below and other methods are highly subjective and require judgments regarding significant matters such as the amount and timing of future cash flows, prepayment speed assumptions, expected interest rate volatility, methods to determine possible distributions of future interest rates used to value options, and the selection of discount rates that appropriately reflect market and credit risks. The use of different assumptions could have a material effect on the fair value estimates. | |||||||||||||||||||
Fair Value Hierarchy: The FHLBank records trading securities, derivative assets and derivative liabilities at fair value on a recurring basis and on occasion, certain private-label MBS/ABS and non-financial assets on a non-recurring basis. The fair value hierarchy requires the FHLBank to maximize the use of observable inputs and minimize the use of 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 the market observability of the fair value measurement for the asset or liability. The FHLBank must disclose the level within the fair value hierarchy in which the measurements are classified for all assets and liabilities. | |||||||||||||||||||
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 active markets that the FHLBank can access on the measurement date. | ||||||||||||||||||
§ | 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: (1) quoted prices for similar assets and liabilities in active markets; (2) quoted prices for similar assets and liabilities in markets that are not active; (3) inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates and yield curves that are observable at commonly quoted intervals and implied volatilities); and (4) inputs that are derived principally from or corroborated by observable market data by correlation or other means. | ||||||||||||||||||
§ | Level 3 Inputs – Unobservable inputs for the asset or liability. | ||||||||||||||||||
The FHLBank 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. These reclassifications, if any, are reported as transfers in/out as of the beginning of the quarter in which the changes occur. There were no transfers during the years ended December 31, 2013 and 2012. | |||||||||||||||||||
The carrying value and fair value of the FHLBank’s financial assets and liabilities as of December 31, 2013 and 2012 are summarized in Tables 17.1 and 17.2 (in thousands). These values do not represent an estimate of the overall market value of the FHLBank as a going concern, which would take into account future business opportunities and the net profitability of assets and liabilities. | |||||||||||||||||||
Table 17.1 | |||||||||||||||||||
12/31/13 | |||||||||||||||||||
Carrying Value | Total | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral | ||||||||||||||
Fair Value | |||||||||||||||||||
Assets: | |||||||||||||||||||
Cash and due from banks | $ | 1,713,940 | $ | 1,713,940 | $ | 1,713,940 | $ | - | $ | - | $ | - | |||||||
Interest-bearing deposits | 1,116 | 1,116 | - | 1,116 | - | - | |||||||||||||
Federal funds sold | 575,000 | 575,000 | - | 575,000 | - | - | |||||||||||||
Trading securities | 2,704,777 | 2,704,777 | - | 2,704,777 | - | - | |||||||||||||
Held-to-maturity securities | 5,423,659 | 5,415,205 | - | 5,038,465 | 376,740 | - | |||||||||||||
Advances | 17,425,487 | 17,461,489 | - | 17,461,489 | - | - | |||||||||||||
Mortgage loans held for portfolio, net of allowance | 5,949,480 | 5,991,371 | - | 5,991,371 | - | - | |||||||||||||
Accrued interest receivable | 72,526 | 72,526 | - | 72,526 | - | - | |||||||||||||
Derivative assets | 27,957 | 27,957 | - | 172,806 | - | -144,849 | |||||||||||||
Liabilities: | |||||||||||||||||||
Deposits | 961,888 | 961,888 | - | 961,888 | - | - | |||||||||||||
Consolidated obligation discount notes | 10,889,565 | 10,889,682 | - | 10,889,682 | - | - | |||||||||||||
Consolidated obligation bonds | 20,056,964 | 19,808,605 | - | 19,808,605 | - | - | |||||||||||||
Mandatorily redeemable capital stock | 4,764 | 4,764 | 4,764 | - | - | - | |||||||||||||
Accrued interest payable | 62,447 | 62,447 | - | 62,447 | - | - | |||||||||||||
Derivative liabilities | 108,353 | 108,353 | - | 470,329 | - | -361,976 | |||||||||||||
Other Asset (Liability): | |||||||||||||||||||
Standby letters of credit | -996 | -996 | - | -996 | - | - | |||||||||||||
Standby bond purchase agreements | 208 | 6,868 | - | 6,868 | - | - | |||||||||||||
Standby credit facility | -45 | -45 | - | -45 | - | - | |||||||||||||
Advance commitments | - | -182 | - | -182 | - | - | |||||||||||||
Table 17.2 | |||||||||||||||||||
12/31/12 | |||||||||||||||||||
Carrying Value | Total | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral | ||||||||||||||
Fair Value | |||||||||||||||||||
Assets: | |||||||||||||||||||
Cash and due from banks | $ | 369,997 | $ | 369,997 | $ | 369,997 | $ | - | $ | - | $ | - | |||||||
Interest-bearing deposits | 455 | 455 | - | 455 | - | - | |||||||||||||
Securities purchased under agreements to resell | 1,999,288 | 1,999,288 | - | 1,999,288 | - | - | |||||||||||||
Federal funds sold | 850,000 | 850,000 | - | 850,000 | - | - | |||||||||||||
Trading securities | 2,764,918 | 2,764,918 | - | 2,764,918 | - | - | |||||||||||||
Held-to-maturity securities | 5,159,750 | 5,192,330 | - | 4,633,792 | 558,538 | - | |||||||||||||
Advances | 16,573,348 | 16,714,319 | - | 16,714,319 | - | - | |||||||||||||
Mortgage loans held for portfolio, net of allowance | 5,940,517 | 6,256,905 | - | 6,256,905 | - | - | |||||||||||||
Accrued interest receivable | 77,445 | 77,445 | - | 77,445 | - | - | |||||||||||||
Derivative assets | 25,166 | 25,166 | - | 256,379 | - | -231,213 | |||||||||||||
Liabilities: | |||||||||||||||||||
Deposits | 1,181,957 | 1,181,957 | - | 1,181,957 | - | - | |||||||||||||
Consolidated obligation discount notes | 8,669,059 | 8,669,327 | - | 8,669,327 | - | - | |||||||||||||
Consolidated obligation bonds | 21,973,902 | 22,189,631 | - | 22,189,631 | - | - | |||||||||||||
Mandatorily redeemable capital stock | 5,665 | 5,665 | 5,665 | - | - | - | |||||||||||||
Accrued interest payable | 81,801 | 81,801 | - | 81,801 | - | - | |||||||||||||
Derivative liabilities | 123,414 | 123,414 | - | 664,992 | - | -541,578 | |||||||||||||
Other Asset (Liability): | |||||||||||||||||||
Standby letters of credit | -1,039 | -1,039 | - | -1,039 | - | - | |||||||||||||
Standby bond purchase agreements | 588 | 4,922 | - | 4,922 | - | - | |||||||||||||
Fair Value Methodologies and Techniques and Significant Inputs: | |||||||||||||||||||
Cash and Due From Banks: The fair values approximate the carrying values. | |||||||||||||||||||
Interest-bearing Deposits: The balance is comprised of interest-bearing deposits in banks. Based on the nature of the accounts, the carrying value approximates the fair value. | |||||||||||||||||||
Securities Purchased Under Agreements to Resell: The fair values are determined by calculating the present value of the future cash flows. The discount rates used in the calculations are rates for securities with similar terms. For overnight borrowings, the carrying value approximates fair value. | |||||||||||||||||||
Federal Funds Sold: The carrying value of overnight Federal funds approximates fair value, and term Federal funds are valued using projected future cash flows discounted at the current replacement rate. | |||||||||||||||||||
Investment Securities – non-MBS: The fair values of short-term non-MBS investments are determined using an income approach based on the LIBOR swap interest rate curve, adjusted for a spread, which may be based on unobservable information. Differing spreads may be applied to distinct term points along the discount curve in determining the fair values of instruments with varying maturities. | |||||||||||||||||||
For non-MBS long-term (as determined by original issuance date) securities, the FHLBank obtains prices from up to four designated third-party pricing vendors when available. The pricing vendors use various proprietary models to price investments. The inputs to those models are derived from various sources including, but not limited to: benchmark yields, reported trades, dealer estimates, issuer spreads, benchmark securities, bids, offers and other market-related data. Each pricing vendor has an established challenge process in place for all valuations, which facilitates resolution of potentially erroneous prices identified by the FHLBank. The use of multiple pricing vendors provides the FHLBank with additional data points regarding levels of inputs and final prices that are used to validate final pricing of investment securities. The utilization of the average of available vendor prices within a cluster tolerance and the evaluation of reasonableness of outlier prices described below does not discard available information. | |||||||||||||||||||
Annually, the FHLBank conducts reviews of the four pricing vendors to confirm and further augment its understanding of the vendors’ pricing processes, methodologies and control procedures. The FHLBank’s review process includes obtaining available vendors’ independent auditors’ reports regarding the internal controls over their valuation process, although the availability of pertinent reports varies by vendor. | |||||||||||||||||||
The FHLBank utilizes a valuation technique for estimating the fair values of non-MBS long-term securities as follows: | |||||||||||||||||||
§ | The FHLBank’s valuation technique first requires the establishment of a median price for each security. If four prices are received, the average of the middle two prices is used; if three prices are received, the middle price is used; if two prices are received, the average of the two prices is used; and if one price is received, it is used subject to validation. | ||||||||||||||||||
§ | All prices that are within a specified tolerance threshold of the median price are included in the cluster of prices that are averaged to compute a default price. | ||||||||||||||||||
§ | Prices that are outside the threshold (outliers) are subject to further analysis (including, but not limited to, comparison to prices provided by an additional third-party valuation service, prices for similar securities, and/or non-binding dealer estimates) to determine if an outlier is a better estimate of fair value. | ||||||||||||||||||
§ | If an outlier (or some other price identified in the analysis) is determined to be a better estimate of fair value, then the outlier (or the other price as appropriate) is used as the final price rather than the default price. | ||||||||||||||||||
§ | If, on the other hand, the analysis confirms that an outlier (or outliers) is (are) in fact not representative of fair value and the default price is the best estimate, then the default price is used as the final price. In all cases, the final price is used to determine the fair value of the security. | ||||||||||||||||||
§ | If all prices received for a security are outside the tolerance threshold level of the median price, then there is no default price, and the final price is determined by an evaluation of all outlier prices as described above. | ||||||||||||||||||
As of December 31, 2013, four prices were received for substantially all of the FHLBank’s non-MBS long-term holdings with most vendor prices falling within the tolerances so the final prices for those securities were computed by averaging the prices received. Based on the FHLBank’s reviews of the pricing methods and controls employed by the third-party pricing vendors and the relative lack of dispersion among the vendor prices (or, in those instances in which there were outliers, the FHLBank’s additional analyses), the FHLBank has concluded that its final prices result in reasonable estimates of fair value and that the fair value measurements are classified appropriately in the fair value hierarchy. Based on the significant lack of market activity for state or local housing agency obligations, the fair value measurements for those securities were classified as Level 3 within the fair value hierarchy as of December 31, 2013 and 2012. | |||||||||||||||||||
Investment Securities – MBS/ABS: For MBS/ABS securities, the FHLBank obtains prices from up to four designated third-party pricing vendors when available. These pricing vendors use various proprietary models to price investments. The inputs to those models are derived from various sources including, but not limited to: benchmark yields, reported trades, dealer estimates, issuer spreads, benchmark securities, bids, offers and other market-related data (certain inputs are actively quoted and can be validated to external sources). Since many MBS/ABS are not traded on a daily basis, the pricing vendors use available information as applicable such as benchmark curves, benchmarking of like securities, sector groupings and matrix pricing to determine the prices for individual securities. Each pricing vendor has an established challenge process in place for all valuations, which facilitates resolution of potentially erroneous prices identified by the FHLBank. The use of multiple pricing vendors provides the FHLBank with additional data points regarding levels of inputs and final prices that are used to validate final pricing of investment securities. The utilization of the average of available vendor prices within a cluster tolerance and the evaluation of reasonableness of outlier prices does not discard available information. | |||||||||||||||||||
Similar to the description above for non-MBS long-term securities, the FHLBank has conducted reviews of the four pricing vendors and has established a price for each MBS/ABS using a formula that was based upon the number of prices received, subject to review of outliers. As an additional step, the FHLBank reviewed the final fair value estimates of its private-label MBS/ABS holdings for reasonableness using an implied yield test. The FHLBank calculated an implied yield for each of its private-label MBS/ABS using the estimated fair value derived from the process described above and the security’s projected cash flows from the FHLBank’s OTTI process and compared such yield to the yield for comparable securities according to dealers and other third-party sources to the extent comparable yield data was available. This analysis did not indicate that any adjustments to the fair value estimates were necessary. | |||||||||||||||||||
As of December 31, 2013, four vendor prices were received for substantially all of the FHLBank’s MBS/ABS holdings with most vendor prices falling within the tolerances so the final prices for those securities were computed by averaging the prices received. Based on the FHLBank’s reviews of the pricing methods and controls employed by the third-party pricing vendors and the relative lack of dispersion among the vendor prices (or, in those instances in which there were outliers or significant yield variances, the FHLBank’s additional analyses), the FHLBank has concluded that its final prices result in reasonable estimates of fair value and that the fair value measurements are classified appropriately in the fair value hierarchy. Based on the significant lack of market activity for private-label MBS/ABS, the fair value measurements for those securities were classified as Level 3 within the fair value hierarchy as of December 31, 2013 and 2012. | |||||||||||||||||||
Advances: The fair values of advances are determined by calculating the present values of the expected future cash flows from the advances, excluding the amount of accrued interest receivable. The discount rates used in these calculations are equivalent to the replacement advance rates for advances with similar terms. | |||||||||||||||||||
The inputs used to determine the fair values of advances are as follows: | |||||||||||||||||||
§ | CO Curve and LIBOR Curve. The Office of Finance constructs an internal curve, referred to as the CO Curve, using the U.S. Treasury Curve as a base curve that is then adjusted by adding indicative spreads obtained from market observable sources. These market indications are generally derived from pricing indications from dealers, historical pricing relationships, recent GSE trades and secondary market activity. The CO Curve is used for fixed rate callable and non-callable advances. The LIBOR Curve is used for variable rate advances and certain fixed rate advances with other optionality. | ||||||||||||||||||
§ | Volatility assumption. To estimate the fair values of advances with optionality, the FHLBank uses market-based expectations of future interest rate volatility implied from current market prices for similar options. | ||||||||||||||||||
§ | Spread adjustment. Represents an adjustment to the CO Curve or LIBOR Curve. | ||||||||||||||||||
In accordance with Finance Agency regulations, an advance with a maturity or repricing period greater than six months requires a prepayment fee sufficient to make the FHLBank financially indifferent to the borrower’s decision to prepay the advance. Therefore, the fair value of an advance does not assume prepayment risk. The FHLBank did not adjust the fair value measurement for creditworthiness primarily because advances were fully collateralized. | |||||||||||||||||||
Mortgage Loans Held for Portfolio: The fair values of mortgage loans are determined based on quoted market prices of similar mortgage loans. These prices, however, can change rapidly based upon market conditions and are highly dependent upon the underlying prepayment assumptions. | |||||||||||||||||||
Accrued Interest Receivable and Payable: The fair values approximate the carrying values. | |||||||||||||||||||
Derivative Assets/Liabilities: The FHLBank bases the fair values of derivatives on instruments with similar terms or market prices, when available. However, active markets do not exist for many of the FHLBank’s derivatives. Consequently, fair values for these instruments are generally estimated using standard valuation techniques such as discounted cash flow analysis and comparisons to similar instruments. The FHLBank is subject to credit risk due to the risk of nonperformance by counterparties to its derivative transactions. For bilateral derivatives, the degree of credit risk depends on the extent to which master netting arrangements are included in these contracts to mitigate the risk. In addition, the FHLBank requires collateral agreements with collateral delivery thresholds on the majority of its bilateral derivatives. The use of cleared derivatives is intended to mitigate credit risk exposure because a central counterparty is substituted for individual counterparties and collateral is posted daily through a clearing agent for changes in the value of cleared derivatives. The FHLBank has evaluated the potential for the fair value of the instruments to be impacted by counterparty credit risk and its own credit risk and has determined that no adjustments were significant or necessary to the overall fair value measurements of derivatives. | |||||||||||||||||||
The fair values of the FHLBank’s derivative assets and liabilities include accrued interest receivable/payable and cash collateral, including initial and variation margin, remitted to/received from counterparties. The estimated fair values of the accrued interest receivable/payable and cash collateral approximate their carrying values due to their short-term nature. Derivatives are presented on a net basis by clearing agent by Clearinghouse or by counterparty when it has met the netting requirements. If these netted amounts are positive, they are classified as an asset and, if negative, a liability. | |||||||||||||||||||
The discounted cash flow model uses market-observable inputs. Inputs by class of derivative are as follows: | |||||||||||||||||||
§ | Interest-rate related: | ||||||||||||||||||
· | Discount rate assumption - Overnight-index Swap Curve; | ||||||||||||||||||
· | Forward interest rate assumption for rate resets - LIBOR Swap Curve; | ||||||||||||||||||
· | Volatility assumptions - market-based expectations of future interest rate volatility implied from current market prices for similar options; and | ||||||||||||||||||
· | Prepayment assumptions. | ||||||||||||||||||
§ | Mortgage delivery commitments: | ||||||||||||||||||
· | To be announced (TBA) price - market-based prices of TBAs by coupon class and expected term until settlement. | ||||||||||||||||||
Deposits: The fair values of deposits are determined by calculating the present values of the expected future cash flows from the deposits. The calculated present values are reduced by the accrued interest payable. The discount rates used in these calculations are the cost of deposits with similar terms. | |||||||||||||||||||
Consolidated Obligations: The fair values for consolidated obligation bonds and discount notes are determined by using standard valuation techniques and inputs based on the cost of raising comparable term debt. | |||||||||||||||||||
The inputs used to determine the fair values of consolidated obligations are as follows: | |||||||||||||||||||
§ | CO Curve and LIBOR Curve. Fixed rate consolidated obligations that do not contain options are discounted using a replacement rate based on the CO Curve. Variable rate consolidated obligations that do not contain options are discounted using LIBOR. Consolidated obligations that contain optionality are discounted using LIBOR. | ||||||||||||||||||
§ | Volatility assumption. To estimate the fair values of consolidated obligations with optionality, the FHLBank uses market-based expectations of future interest rate volatility implied from current market prices for similar options. | ||||||||||||||||||
Mandatorily Redeemable Capital Stock: The fair value of capital stock subject to mandatory redemption is generally at par value. Fair value also includes estimated dividends earned at the time of reclassification from equity to liabilities, until such amount is paid, and any subsequently declared stock dividend. The FHLBank’s dividends are declared and paid at each quarter end; therefore, fair value equaled par value as of the end of the periods presented. Stock can only be acquired by members at par value and redeemed or repurchased at par value. Stock is not traded and no market mechanism exists for the exchange of stock outside the cooperative structure. | |||||||||||||||||||
Standby Letters of Credit: The fair values of standby letters of credit are based on the present value of fees currently charged for similar agreements. The value of these guarantees is recognized and recorded in other liabilities. | |||||||||||||||||||
Standby Bond Purchase Agreements: The fair values of the standby bond purchase agreements are estimated using the present value of the future fees on existing agreements with fees determined using rates currently charged for similar agreements. | |||||||||||||||||||
Standby Credit Facility: The fair values of extensions to extend credit through the standby credit facility are based on the present value of future fees on existing agreements with fees determined using rates currently charged for similar agreements. The value of these commitments is recognized and recorded in other liabilities. | |||||||||||||||||||
Advance Commitments: The fair values of advance commitments are based on the present value of fees currently charged for similar agreements, taking into account the remaining terms of the agreement and the difference between current levels of interest rates and the committed rates. | |||||||||||||||||||
Fair Value Measurements: Tables 17.3 and 17.4 present, for each hierarchy level, the FHLBank’s assets and liabilities that are measured at fair value on a recurring or nonrecurring basis on the Statements of Condition as of December 31, 2013 and 2012 (in thousands). The FHLBank measures certain held-to-maturity securities at fair value on a nonrecurring basis due to the recognition of a credit loss. For held-to-maturity securities that had credit impairment recorded at period end for which no total impairment was recorded (the full amount of additional credit impairment was a reclassification from non-credit impairment previously recorded in AOCI), these securities were recorded at their carrying values and not fair value. Real estate owned is measured at fair value when the asset’s fair value less costs to sell is lower than its carrying amount. | |||||||||||||||||||
Table 17.3 | |||||||||||||||||||
12/31/13 | |||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral1 | |||||||||||||||
Recurring fair value measurements - Assets: | |||||||||||||||||||
Trading securities: | |||||||||||||||||||
Certificates of deposit | $ | 260,009 | $ | - | $ | 260,009 | $ | - | $ | - | |||||||||
U.S. Treasury obligations | 25,012 | - | 25,012 | - | - | ||||||||||||||
Government-sponsored enterprise obligations2,3 | 2,247,966 | - | 2,247,966 | - | - | ||||||||||||||
U.S. obligation residential MBS4 | 1,090 | - | 1,090 | - | - | ||||||||||||||
Government-sponsored enterprise residential MBS5 | 170,700 | - | 170,700 | - | - | ||||||||||||||
Total trading securities | 2,704,777 | - | 2,704,777 | - | - | ||||||||||||||
Derivative assets: | |||||||||||||||||||
Interest-rate related | 27,933 | - | 172,782 | - | -144,849 | ||||||||||||||
Mortgage delivery commitments | 24 | - | 24 | - | - | ||||||||||||||
Total derivative assets | 27,957 | - | 172,806 | - | -144,849 | ||||||||||||||
TOTAL RECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 2,732,734 | $ | - | $ | 2,877,583 | $ | - | $ | -144,849 | |||||||||
Recurring fair value measurements - Liabilities: | |||||||||||||||||||
Derivative liabilities: | |||||||||||||||||||
Interest-rate related | $ | 108,064 | $ | - | $ | 470,040 | $ | - | $ | -361,976 | |||||||||
Mortgage delivery commitments | 289 | - | 289 | - | - | ||||||||||||||
Total derivative liabilities | 108,353 | - | 470,329 | - | -361,976 | ||||||||||||||
TOTAL RECURRING FAIR VALUE MEASUREMENTS - LIABILITIES | $ | 108,353 | $ | - | $ | 470,329 | $ | - | $ | -361,976 | |||||||||
Nonrecurring fair value measurements - Assets: | |||||||||||||||||||
Held-to-maturity securities6: | |||||||||||||||||||
Private-label residential MBS | $ | 237 | $ | - | $ | - | $ | 237 | $ | - | |||||||||
Real estate owned7 | $ | 497 | - | - | $ | 497 | - | ||||||||||||
TOTAL NONRECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 734 | $ | - | $ | - | $ | 734 | $ | - | |||||||||
1Represents the effect of legally enforceable master netting agreements that allow the FHLBank to net settle positive and negative positions and also derivative cash collateral and related accrued interest held or placed with the same counterparties. | |||||||||||||||||||
2Represents debentures issued by other FHLBanks, Fannie Mae, Freddie Mac, Farm Credit, and Farmer Mac. GSE securities are not guaranteed by the U.S. government. Fannie Mae and Freddie Mac were placed into conservatorship by the Finance Agency on September 7, 2008 with the Finance Agency named as conservator. | |||||||||||||||||||
3See Note 20 for transactions with other FHLBanks. | |||||||||||||||||||
4Represents MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | |||||||||||||||||||
5Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | |||||||||||||||||||
6Excludes impaired securities with carrying values less than their fair values at date of impairment. | |||||||||||||||||||
7Includes real estate owned written down to fair value during the quarter ended December 31, 2013 and still outstanding as of December 31, 2013. | |||||||||||||||||||
Table 17.4 | |||||||||||||||||||
12/31/12 | |||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral1 | |||||||||||||||
Recurring fair value measurements - Assets: | |||||||||||||||||||
Trading securities: | |||||||||||||||||||
Commercial paper | $ | 59,996 | $ | - | $ | 59,996 | $ | - | $ | - | |||||||||
Certificates of deposit | 325,006 | - | 325,006 | - | - | ||||||||||||||
Government-sponsored enterprise obligations2,3 | 2,126,327 | - | 2,126,327 | - | - | ||||||||||||||
U.S. obligation residential MBS4 | 1,277 | - | 1,277 | - | - | ||||||||||||||
Government-sponsored enterprise residential MBS5 | 252,312 | - | 252,312 | - | - | ||||||||||||||
Total trading securities | 2,764,918 | - | 2,764,918 | - | - | ||||||||||||||
Derivative assets: | |||||||||||||||||||
Interest-rate related | 25,064 | - | 256,277 | - | -231,213 | ||||||||||||||
Mortgage delivery commitments | 102 | - | 102 | - | - | ||||||||||||||
Total derivative assets | 25,166 | - | 256,379 | - | -231,213 | ||||||||||||||
TOTAL RECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 2,790,084 | $ | - | $ | 3,021,297 | $ | - | $ | -231,213 | |||||||||
Recurring fair value measurements - Liabilities: | |||||||||||||||||||
Derivative liabilities: | |||||||||||||||||||
Interest-rate related | $ | 123,318 | $ | - | $ | 664,896 | $ | - | $ | -541,578 | |||||||||
Mortgage delivery commitments | 96 | - | 96 | - | - | ||||||||||||||
Total derivative liabilities | 123,414 | - | 664,992 | - | -541,578 | ||||||||||||||
TOTAL RECURRING FAIR VALUE MEASUREMENTS - LIABILITIES | $ | 123,414 | $ | - | $ | 664,992 | $ | - | $ | -541,578 | |||||||||
Nonrecurring fair value measurements - Assets: | |||||||||||||||||||
Real estate owned6 | 540 | - | - | 540 | - | ||||||||||||||
TOTAL NONRECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 540 | $ | - | $ | - | $ | 540 | $ | - | |||||||||
1Represents the effect of legally enforceable master netting agreements that allow the FHLBank to net settle positive and negative positions and also derivative cash collateral and related accrued interest held or placed with the same counterparties. | |||||||||||||||||||
2Represents debentures issued by other FHLBanks, Fannie Mae, Freddie Mac, Farm Credit, and Farmer Mac. GSE securities are not guaranteed by the U.S. government. Fannie Mae and Freddie Mac were placed into conservatorship by the Finance Agency on September 7, 2008 with the Finance Agency named as conservator. | |||||||||||||||||||
3See Note 20 for transactions with other FHLBanks. | |||||||||||||||||||
4Represents MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | |||||||||||||||||||
5Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | |||||||||||||||||||
6Includes real estate owned written down to fair value during the quarter ended December 31, 2012 and still outstanding as of December 31, 2012. | |||||||||||||||||||
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Commitments And Contingencies [Abstract] | ' | ||||||||||||||||||
Commitments And Contingencies | ' | ||||||||||||||||||
NOTE 18 – COMMITMENTS AND CONTINGENCIES | |||||||||||||||||||
Joint and Several Liability: As provided by the Bank Act or Finance Agency regulation and as described in Note 10, consolidated obligations are backed only by the financial resources of the FHLBanks. FHLBank Topeka is jointly and severally liable with the other 11 FHLBanks for the payment of principal and interest on all of the consolidated obligations issued by the FHLBanks. The par amounts for which FHLBank Topeka is jointly and severally liable were approximately $735,906,150,000 and $657,444,451,000 as of December 31, 2013 and 2012, respectively. To the extent that an FHLBank makes any consolidated obligation payment on behalf of another FHLBank, the paying FHLBank is entitled to reimbursement from the FHLBank with primary liability. However, if the Finance Agency determines that the primary obligor is unable to satisfy its obligations, then the Finance Agency may allocate the outstanding liability among the remaining FHLBanks on a pro rata basis in proportion to each FHLBank’s participation in all consolidated obligations outstanding, or on any other basis that the Finance Agency may determine. No FHLBank has ever failed to make any payment on a consolidated obligation for which it was the primary obligor. As a result, the regulatory provisions for directing other FHLBanks to make payments on behalf of another FHLBank or allocating the liability among other FHLBanks have never been invoked. | |||||||||||||||||||
The joint and several obligations are mandated by Finance Agency regulations and are not the result of arms-length transactions among the FHLBanks. As described above, the FHLBanks have no control over the amount of the guaranty or the determination of how each FHLBank would perform under the joint and several liability. Because the FHLBanks are subject to the authority of the Finance Agency as it relates to decisions involving the allocation of the joint and several liability for the FHLBank’s consolidated obligations, FHLBank Topeka regularly monitors the financial condition of the other 11 FHLBanks to determine whether it should expect a loss to arise from its joint and several obligations. If the FHLBank were to determine that a loss was probable and the amount of the loss could be reasonably estimated, the FHLBank would charge to income the amount of the expected loss. Based upon the creditworthiness of the other 11 FHLBanks as of December 31, 2013, FHLBank Topeka has concluded that a loss accrual is not necessary at this time. | |||||||||||||||||||
Off-balance Sheet Commitments: As of December 31, 2013 and 2012, off-balance sheet commitments are presented in Table 18.1 (in thousands): | |||||||||||||||||||
Table 18.1 | |||||||||||||||||||
12/31/13 | 12/31/12 | ||||||||||||||||||
Notional Amount | Expire Within | Expire After One Year | Total | Expire Within | Expire After One Year | Total | |||||||||||||
One Year | One Year | ||||||||||||||||||
Standby letters of credit outstanding | $ | 2,530,810 | $ | 12,038 | $ | 2,542,848 | $ | 2,533,506 | $ | 21,332 | $ | 2,554,838 | |||||||
Standby credit facility commitments outstanding | 50,000 | - | 50,000 | - | - | - | |||||||||||||
Advance commitments outstanding | 6,000 | - | 6,000 | - | - | - | |||||||||||||
Commitments for standby bond purchases | 363,777 | 1,293,972 | 1,657,749 | 532,028 | 1,065,176 | 1,597,204 | |||||||||||||
Commitments to fund or purchase mortgage loans | 65,620 | - | 65,620 | 106,355 | - | 106,355 | |||||||||||||
Commitments to issue consolidated bonds, at par | 75,000 | - | 75,000 | 165,000 | - | 165,000 | |||||||||||||
Commitments to Extend Credit: Standby letters of credit are executed for members for a fee. A standby letter of credit is a short-term financing arrangement between the FHLBank and its member or non-member housing associate. If the FHLBank is required to make payment for a beneficiary’s draw, these amounts are converted into a collateralized advance to the member. As of December 31, 2013, outstanding standby letters of credit had original terms of 7 days to 10 years with a final expiration in 2020. As of December 31, 2012 outstanding standby letters of credit had original terms of 3 days to 10 years with a final expiration in 2020. Unearned fees as well as the value of the guarantees related to standby letters of credit are recorded in other liabilities and amounted to $996,000 and $1,039,000 as of December 31, 2013 and 2012, respectively. Standby letters of credit are fully collateralized with assets allowed by the FHLBank’s MPP. Standby credit facility (SCF) commitments legally bind and unconditionally obligate the FHLBank for additional advances to stockholders. These commitments are executed for members for a fee and are for terms of up to one year. Unearned fees are recorded in other liabilities and amounted to $45,000 as of December 31, 2013. Advance commitments legally bind and unconditionally obligate the FHLBank for additional advances up to 24 months in the future. Based upon management’s credit analysis of members and collateral requirements under the MPP, the FHLBank does not expect to incur any credit losses on the letters of credit, SCF commitments or advance commitments. | |||||||||||||||||||
Standby Bond-Purchase Agreements: The FHLBank has entered into standby bond purchase agreements with state housing authorities whereby the FHLBank, for a fee, agrees to purchase and hold the authorities’ bonds until the designated marketing agent can find a suitable investor or the housing authority repurchases the bond according to a schedule established by the standby agreement. Each standby agreement dictates the specific terms that would require the FHLBank to purchase the bond. The bond purchase commitments entered into by the FHLBank expire no later than 2016, though some are renewable at the option of the FHLBank. As of December 31, 2013, the total commitments for bond purchases were with two in-district and one out-of-district state housing authorities as well as a participation interest in a standby bond purchase agreement between another FHLBank and a state housing authority in its district. As of December 31, 2012, the total commitments for bond purchases included the same two in-district state housing authorities and the out-of-district participation interest. The FHLBank was not required to purchase any bonds under these agreements during the years ended December 31, 2013 and 2012. | |||||||||||||||||||
Commitments to Fund or Purchase Mortgage Loans: These commitments that unconditionally obligate the FHLBank to fund/purchase mortgage loans from participating FHLBank Topeka members in the MPF Program are generally for periods not to exceed 60 calendar days. Certain commitments are recorded as derivatives at their fair values on the Statements of Condition. The FHLBank recorded mortgage delivery commitment net derivative asset (liability) balances of $ (265,000) and $6,000 as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||
Lease Commitments: Net rental costs under operating leases of approximately $118,000, $110,000 and $116,000 in 2013, 2012, and 2011, respectively, for premises and equipment have been charged to other operating expenses. Future minimum net rentals are summarized in Table 18.2 (in thousands): | |||||||||||||||||||
Table 18.2 | |||||||||||||||||||
Year | Premises | Equipment | Total | ||||||||||||||||
2014 | $ | 50 | $ | 63 | $ | 113 | |||||||||||||
2015 | 45 | 10 | 55 | ||||||||||||||||
2016 | 45 | 3 | 48 | ||||||||||||||||
2017 | 19 | - | 19 | ||||||||||||||||
Thereafter | - | - | - | ||||||||||||||||
TOTAL | $ | 159 | $ | 76 | $ | 235 | |||||||||||||
Safekeeping Custodial Arrangements: The FHLBank acts as a securities safekeeping custodian on behalf of participating members. Actual securities are held by a third-party custodian acting as agent for the FHLBank. As of December 31, 2013, the total original par value of customer securities held by the FHLBank under this arrangement was $37,586,626,000. | |||||||||||||||||||
Other commitments and contingencies are discussed in Notes 1, 5, 6, 7, 8, 10, 11, 12, 14 and 16. | |||||||||||||||||||
Transactions_With_Stockholders
Transactions With Stockholders And Housing Associates | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Transactions With Stockholders And Housing Associates [Abstract] | ' | ||||||||||||||||||||||||
Transactions With Stockholders And Housing Associates | ' | ||||||||||||||||||||||||
NOTE 19 – TRANSACTIONS WITH STOCKHOLDERS | |||||||||||||||||||||||||
The FHLBank is a cooperative whose members own the capital stock of the FHLBank and generally receive dividends on their investments. In addition, certain former members that still have outstanding transactions are also required to maintain their investments in FHLBank capital stock until the transactions mature or are paid off. Nearly all outstanding advances are with current members, and the majority of outstanding mortgage loans held for portfolio were purchased from current or former members. The FHLBank also maintains demand deposit accounts for members primarily to facilitate settlement activities that are directly related to advances and mortgage loan purchases. | |||||||||||||||||||||||||
As provided by statute, the FHLBank’s members have the right to vote on the election of directors. In accordance with the Bank Act and Finance Agency regulations, members elect all of the FHLBank’s board of directors. Under the statute and regulations, each member directorship is designated to one of the four states in the FHLBank’s district, and a member is entitled to vote only for candidates for the state in which the member’s principal place of business is located. Each independent director is elected by the members at large from among individuals nominated by the FHLBank’s board of directors. A member is entitled to cast, for each applicable directorship, one vote for each share of capital stock that the member is required to hold as of the record date for voting, subject to a statutory limitation. Under this limitation, the total number of votes that a member may cast is limited to the average number of shares of the FHLBank’s capital stock that were required to be held by all members in that state as of the record date for voting. Non-member stockholders are not entitled to cast votes for the election of directors. As of December 31, 2013 and 2012, no member owned more than 10 percent of the voting interests of the FHLBank due to the statutory limitation on members’ voting rights as discussed above. | |||||||||||||||||||||||||
Transactions with members are entered into in the ordinary course of business. In instances where members also have officers or directors who are directors of the FHLBank, transactions with those members are subject to the same eligibility and credit criteria, as well as the same terms and conditions, as other transactions with members. For financial reporting and disclosure purposes, the FHLBank defines related parties as FHLBank directors’ financial institutions and members with capital stock investments in excess of 10 percent of the FHLBank’s total regulatory capital stock outstanding, which includes mandatorily redeemable capital stock. | |||||||||||||||||||||||||
Activity with Members that Exceed a 10 Percent Ownership in FHLBank Capital Stock: Tables 19.1 and 19.2 present information as of December 31, 2013 and 2012 on members that owned more than 10 percent of outstanding FHLBank regulatory capital stock in 2013 or 2012 (amounts in thousands). None of the officers or directors of these members currently serve on the FHLBank’s board of directors. | |||||||||||||||||||||||||
Table 19.1 | |||||||||||||||||||||||||
12/31/13 | |||||||||||||||||||||||||
Member Name | State | Total Class A Stock Par Value | Percent of Total Class A | Total Class B Stock Par Value | Percent of Total Class B | Total Capital Stock Par Value | Percent of Total Capital Stock | ||||||||||||||||||
MidFirst Bank | OK | $ | 500 | 0.1 | % | $ | 136,870 | 16.7 | % | $ | 137,370 | 10.9 | % | ||||||||||||
Capitol Federal Savings Bank | KS | 2,100 | 0.5 | 126,995 | 15.4 | 129,095 | 10.3 | ||||||||||||||||||
TOTAL | $ | 2,600 | 0.6 | % | $ | 263,865 | 32.1 | % | $ | 266,465 | 21.2 | % | |||||||||||||
Table 19.2 | |||||||||||||||||||||||||
12/31/12 | |||||||||||||||||||||||||
Member Name | State | Total Class A Stock Par Value | Percent of Total Class A | Total Class B Stock Par Value | Percent of Total Class B | Total Capital Stock Par Value | Percent of Total Capital Stock | ||||||||||||||||||
MidFirst Bank | OK | $ | 500 | 0.1 | % | $ | 145,727 | 16.9 | % | $ | 146,227 | 11.5 | % | ||||||||||||
Capitol Federal Savings Bank | KS | 2,002 | 0.5 | 128,782 | 15.0 | 130,784 | 10.3 | ||||||||||||||||||
TOTAL | $ | 2,502 | 0.6 | % | $ | 274,509 | 31.9 | % | $ | 277,011 | 21.8 | % | |||||||||||||
Advance and deposit balances with members that owned more than 10 percent of outstanding FHLBank regulatory capital stock as of December 31, 2013 and 2012 are summarized in Table 19.3 (amounts in thousands). | |||||||||||||||||||||||||
Table 19.3 | |||||||||||||||||||||||||
12/31/13 | 12/31/12 | 12/31/13 | 12/31/12 | ||||||||||||||||||||||
Member Name | Outstanding Advances | Percent of Total | Outstanding Advances | Percent of Total | Outstanding Deposits | Percent of Total | Outstanding Deposits | Percent of Total | |||||||||||||||||
MidFirst Bank | $ | 2,720,000 | 15.8 | % | $ | 2,898,000 | 18.0 | % | $ | 538 | 0.1 | % | $ | 13 | - | % | |||||||||
Capitol Federal Savings Bank | 2,525,000 | 14.7 | 2,550,000 | 15.8 | 611 | 0.1 | 1,247 | 0.1 | |||||||||||||||||
TOTAL | $ | 5,245,000 | 30.5 | % | $ | 5,448,000 | 33.8 | % | $ | 1,149 | 0.2 | % | $ | 1,260 | 0.1 | % | |||||||||
MidFirst Bank and Capitol Federal Savings Bank did not originate any mortgage loans for or sell mortgage loans into the MPF Program during the years ended December 31, 2013 and 2012. | |||||||||||||||||||||||||
Transactions with FHLBank Directors’ Financial Institutions: Tables 19.4 and 19.5 present information as of December 31, 2013 and 2012 for members that had an officer or director serving on the FHLBank’s board of directors in 2013 or 2012 (amounts in thousands). Information is only listed for the period in which the officer or director served on the FHLBank’s board of directors. Capital stock listed is regulatory capital stock, which includes mandatorily redeemable capital stock. | |||||||||||||||||||||||||
Table 19.4 | |||||||||||||||||||||||||
12/31/13 | |||||||||||||||||||||||||
Member Name | State | Total Class A Stock Par Value | Percent of Total Class A | Total Class B Stock Par Value | Percent of Total Class B | Total Capital Stock Par Value | Percent of Total Capital Stock | ||||||||||||||||||
FirstBank | CO | $ | 1,600 | 0.4 | % | $ | 2,215 | 0.3 | % | $ | 3,815 | 0.3 | % | ||||||||||||
Girard National Bank | KS | 1,061 | 0.2 | 1,666 | 0.2 | 2,727 | 0.2 | ||||||||||||||||||
Vision Bank, NA | OK | 1,623 | 0.4 | 682 | 0.1 | 2,305 | 0.2 | ||||||||||||||||||
First State Bank Nebraska | NE | 973 | 0.2 | 1,301 | 0.2 | 2,274 | 0.2 | ||||||||||||||||||
NebraskaLand National Bank | NE | 561 | 0.1 | 1,510 | 0.2 | 2,071 | 0.2 | ||||||||||||||||||
Bank of Bennington | NE | 951 | 0.2 | 51 | - | 1,002 | 0.1 | ||||||||||||||||||
Citizens Bank & Trust Co. | OK | 934 | 0.2 | 51 | - | 985 | 0.1 | ||||||||||||||||||
Points West Community Bank | NE | 648 | 0.1 | 244 | - | 892 | 0.1 | ||||||||||||||||||
Points West Community Bank | CO | 244 | 0.1 | 293 | - | 537 | - | ||||||||||||||||||
Fullerton National Bank | NE | 155 | - | 266 | - | 421 | - | ||||||||||||||||||
Bankers' Bank of Kansas | KS | 270 | 0.1 | 2 | - | 272 | - | ||||||||||||||||||
Bank of Estes Park | CO | 221 | 0.1 | 1 | - | 222 | - | ||||||||||||||||||
First Security Bank | KS | 139 | - | 50 | - | 189 | - | ||||||||||||||||||
TOTAL | $ | 9,380 | 2.1 | % | $ | 8,332 | 1.0 | % | $ | 17,712 | 1.4 | % | |||||||||||||
Table 19.5 | |||||||||||||||||||||||||
12/31/12 | |||||||||||||||||||||||||
Member Name | State | Total Class A Stock Par Value | Percent of Total Class A | Total Class B Stock Par Value | Percent of Total Class B | Total Capital Stock Par Value | Percent of Total Capital Stock | ||||||||||||||||||
FirstBank | CO | $ | 500 | 0.1 | % | $ | 5,700 | 0.7 | % | $ | 6,200 | 0.5 | % | ||||||||||||
Girard National Bank | KS | 623 | 0.2 | 3,728 | 0.4 | 4,351 | 0.3 | ||||||||||||||||||
Golden Belt Bank, FSA | KS | 1,192 | 0.3 | 2,143 | 0.3 | 3,335 | 0.3 | ||||||||||||||||||
Vision Bank, NA | OK | 2,000 | 0.5 | 956 | 0.1 | 2,956 | 0.2 | ||||||||||||||||||
First State Bank Nebraska | NE | 510 | 0.1 | 1,715 | 0.2 | 2,225 | 0.2 | ||||||||||||||||||
Morgan Federal Bank | CO | 907 | 0.2 | 1,162 | 0.1 | 2,069 | 0.2 | ||||||||||||||||||
NebraskaLand National Bank | NE | 961 | 0.2 | 754 | 0.1 | 1,715 | 0.1 | ||||||||||||||||||
Citizens Bank & Trust Co. | OK | 931 | 0.2 | 51 | - | 982 | 0.1 | ||||||||||||||||||
Bankers' Bank of Kansas, NA | KS | 270 | 0.1 | 2 | - | 272 | - | ||||||||||||||||||
TOTAL | $ | 7,894 | 1.9 | % | $ | 16,211 | 1.9 | % | $ | 24,105 | 1.9 | % | |||||||||||||
Advance and deposit balances with members that had an officer or director serving on the FHLBank’s board of directors as of December 31, 2013 and 2012 are summarized in Table 19.6 (amounts in thousands). Information is only listed for the period in which the officer or director served on the FHLBank’s board of directors. | |||||||||||||||||||||||||
Table 19.6 | |||||||||||||||||||||||||
12/31/13 | 12/31/12 | 12/31/13 | 12/31/12 | ||||||||||||||||||||||
Member Name | Outstanding Advances | Percent of Total | Outstanding Advances | Percent of Total | Outstanding Deposits | Percent of Total | Outstanding Deposits | Percent of Total | |||||||||||||||||
FirstBank | $ | 53,275 | 0.3 | % | $ | 38,000 | 0.2 | % | $ | 2,639 | 0.3 | % | $ | 7,252 | 0.6 | % | |||||||||
Girard National Bank | 36,469 | 0.2 | 37,514 | 0.2 | 1,711 | 0.2 | 2,333 | 0.2 | |||||||||||||||||
Vision Bank, NA | 22,489 | 0.1 | 23,543 | 0.2 | 206 | - | 781 | 0.1 | |||||||||||||||||
First State Bank Nebraska | 25,817 | 0.2 | 33,867 | 0.2 | 220 | - | 866 | 0.1 | |||||||||||||||||
NebraskaLand National Bank | 36,050 | 0.2 | 11,000 | 0.1 | 50 | - | 76 | - | |||||||||||||||||
Bank of Bennington | 80 | - | 1,086 | 0.1 | |||||||||||||||||||||
Citizens Bank & Trust Co. | 1,000 | - | 1,000 | - | 104 | - | 110 | - | |||||||||||||||||
Points West Community Bank (NE) | 11,204 | 0.1 | 77 | - | |||||||||||||||||||||
Points West Community Bank (CO) | 9,858 | 0.1 | 53 | - | |||||||||||||||||||||
Fullerton National Bank | 5,093 | - | 9 | - | |||||||||||||||||||||
Bankers' Bank of Kansas | 1,975 | - | 1,975 | - | 8 | - | 13 | - | |||||||||||||||||
Bank of Estes Park | - | - | 19 | - | |||||||||||||||||||||
First Security Bank | - | - | 38 | - | |||||||||||||||||||||
Golden Belt Bank, FSA | 10,887 | 0.1 | 3,247 | 0.3 | |||||||||||||||||||||
Morgan Federal Bank | 11,800 | 0.1 | 6,224 | 0.5 | |||||||||||||||||||||
TOTAL | $ | 203,310 | 1.2 | % | $ | 169,586 | 1.1 | % | $ | 6,220 | 0.6 | % | $ | 20,902 | 1.8 | % | |||||||||
Table 19.7 presents mortgage loans funded or acquired during the years ended December 31, 2013 and 2012 for members that had an officer or director serving on the FHLBank’s board of directors in 2013 or 2012 (amounts in thousands). Information is only listed for the period in which the officer or director served on the FHLBank’s board of directors. | |||||||||||||||||||||||||
Table 19.7 | |||||||||||||||||||||||||
12/31/13 | 12/31/12 | ||||||||||||||||||||||||
Member Name | Total Mortgage Loans | Percent of Total | Total Mortgage Loans | Percent of Total | |||||||||||||||||||||
FirstBank | $ | 32,895 | 2.7 | % | $ | 152,817 | 6.1 | % | |||||||||||||||||
Girard National Bank | 17,137 | 1.4 | 28,000 | 1.1 | |||||||||||||||||||||
Vision Bank, NA | - | - | 6,498 | 0.3 | |||||||||||||||||||||
First State Bank Nebraska | 1,144 | 0.1 | 15,569 | 0.6 | |||||||||||||||||||||
NebraskaLand National Bank | 5,107 | 0.4 | 12,427 | 0.5 | |||||||||||||||||||||
Bank of Bennington | 8,785 | 0.7 | |||||||||||||||||||||||
Citizens Bank & Trust Co. | - | - | - | - | |||||||||||||||||||||
Points West Community Bank (NE) | - | - | |||||||||||||||||||||||
Points West Community Bank (CO) | 227 | - | |||||||||||||||||||||||
Fullerton National Bank | 1,238 | 0.1 | |||||||||||||||||||||||
Bankers' Bank of Kansas | - | - | - | - | |||||||||||||||||||||
Bank of Estes Park | - | - | |||||||||||||||||||||||
First Security Bank | - | - | |||||||||||||||||||||||
Golden Belt Bank, FSA | 32,083 | 1.3 | |||||||||||||||||||||||
Morgan Federal Bank | 9,976 | 0.4 | |||||||||||||||||||||||
TOTAL | $ | 66,533 | 5.4 | % | $ | 257,370 | 10.3 | % | |||||||||||||||||
Direct Financing Lease: During 2002, the FHLBank entered into a 20-year direct financing lease with a member for a building complex and property. Either party has the option to terminate this lease after 15 years. The net investment in the direct financing lease with the member is recorded in other assets. The FHLBank’s $7,896,000 up-front payment for its portion of the building complex is recorded in premises, software and equipment. On October 31, 2005, the FHLBank amended its lease to occupy additional building space, thereby reducing the portion of the property previously leased back to the member and decreasing the member’s future lease payments. All other provisions of the original lease remain in effect. The net reduction in the lease receivable is recorded in premises, software and equipment. | |||||||||||||||||||||||||
Transactions_With_Other_FHLBan
Transactions With Other FHLBanks | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Transactions With Other FHLBanks [Abstract] | ' | |||||||||
Transactions With Other FHLBanks | ' | |||||||||
NOTE 20 – TRANSACTIONS WITH OTHER FHLBANKS | ||||||||||
FHLBank Topeka had the following business transactions with other FHLBanks during the years ended December 31, 2013, 2012, and 2011 as presented in Table 20.1 (in thousands). All transactions occurred at market prices. | ||||||||||
Table 20.1 | ||||||||||
Business Activity | 2013 | 2012 | 2011 | |||||||
Average overnight interbank loan balances to other FHLBanks1 | $ | 1,847 | $ | 2,242 | $ | 1,432 | ||||
Average overnight interbank loan balances from other FHLBanks1 | 13,671 | 3,907 | 4,963 | |||||||
Average deposit balance with FHLBank of Chicago for shared expense transactions2 | 86 | 108 | 65 | |||||||
Average deposit balance with FHLBank of Chicago for MPF transactions2 | 2,029 | 1,139 | 23 | |||||||
Transaction charges paid to FHLBank of Chicago for transaction service fees3 | 3,126 | 2,879 | 2,334 | |||||||
Par amount of purchases of consolidated obligations issued on behalf of other FHLBanks4 | 150,500 | - | - | |||||||
_________ | ||||||||||
1Occasionally, the FHLBank loans (or borrows) short-term funds to (from) other FHLBanks. Interest income on loans to other FHLBanks is included in Other Interest Income and interest expense on borrowings from other FHLBanks is included in Other Interest Expense on the Statements of Income. | ||||||||||
2Balance is interest bearing and is classified on the Statements of Condition as interest-bearing deposits. | ||||||||||
3Fees are calculated monthly based on 5.5 basis points per annum of outstanding loans originated since January 1, 2010 and are recorded in other expense. For outstanding loans originated since January 1, 2004 and through December 31, 2009, fees are calculated monthly based on 5.0 basis points per annum. | ||||||||||
4Purchases of consolidated obligations issued on behalf of one FHLBank and purchased by the FHLBank occur at market prices with third parties and are accounted for in the same manner as similarly classified investments. Outstanding fair value balances totaling $260,318,000 and $126,828,000 as of December 31, 2013 and December 31, 2012, respectively, are included in the non-MBS GSE obligations totals presented in Note 4. Interest income earned on these securities totaled $7,151,000 $5,582,000, and $5,582,000 for the years ended December 31, 2013, 2012, and 2011, respectively. | ||||||||||
Summary_Of_Significant_Account1
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Summary Of Significant Accounting Policies [Abstract] | ' | |||
Basis of Presentation | ' | |||
Basis of Presentation: The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). | ||||
Reclassifications | ' | |||
Reclassifications: Certain amounts in the financial statements and related footnotes have been reclassified to conform to current period presentations. These reclassifications have no impact on total assets, net income, capital or cash flows. | ||||
Use Of Estimates | ' | |||
Use of Estimates: The preparation of financial statements under GAAP requires management to make estimates and assumptions as of the date of the financial statements in determining the reported amounts of assets, liabilities and estimated fair values and in determining the disclosure of any contingent assets or liabilities. Estimates and assumptions by management also affect the reported amounts of income and expense during the reporting period. The most significant of these estimates include the fair value of trading securities, the fair value of derivatives, the determination of other-than-temporary impairment (OTTI) on investments and the allowance for credit losses. Many of the estimates and assumptions, including those used in financial models, are based on financial market conditions as of the date of the financial statements. Because of the volatility of the financial markets, as well as other factors that affect management estimates, actual results may vary from these estimates. | ||||
Financial Instruments with Legal Right of Offset | ' | |||
Financial Instruments Meeting Netting Requirements: The FHLBank presents certain financial instruments, including derivatives, repurchase agreements and securities purchased under agreements to resell, on a net basis when it has a legal right of offset and all other requirements for netting are met (collectively referred to as the netting requirements). For these financial instruments, the FHLBank has elected to offset its asset and liability positions, as well as cash collateral received or pledged, when it has met the netting requirements. The net exposure for these financial instruments can change on a daily basis; therefore, there may be a delay between the time this exposure change is identified and additional collateral is requested, and the time when this collateral is received or pledged. Likewise, there may be a delay for excess collateral to be returned. See Note 13 for additional information regarding these financial instruments. | ||||
For derivative instruments that meet the requirements for netting, any excess cash collateral received or pledged is recognized as a derivative liability or derivative asset. See Note 8 for additional information regarding these agreements. | ||||
Fair Values | ' | |||
Fair Values: The fair value amounts, recorded on the Statements of Condition and presented in the note disclosures for the periods presented, have been determined by the FHLBank using available market and other pertinent information and reflect the FHLBank’s best judgment of appropriate valuation methods. Although the FHLBank uses its best judgment in estimating the fair value of these financial instruments, there are inherent limitations in any valuation technique. Therefore, these fair values may not be indicative of the amounts that would have been realized in market transactions at the reporting dates. See Note 17 for more information. | ||||
Cash Flows | ' | |||
Cash Flows: For purposes of the Statements of Cash Flows, the FHLBank considers cash on hand and non-interest-bearing deposits in banks as cash and cash equivalents. | ||||
Interest-Bearing Deposits, Securities Purchased Under Agreements To Resell And Federal Funds Sold | ' | |||
Interest-bearing Deposits, Securities Purchased Under Agreements to Resell and Federal Funds Sold: These investments provide short-term liquidity and are carried at cost. The FHLBank treats securities purchased under agreements to resell as short-term collateralized loans, which are classified as assets on the Statements of Condition. Securities purchased under agreements to resell are held in safekeeping in the FHLBank’s name by third-party custodians approved by the FHLBank. If the fair value of the underlying securities decreases below the fair value required as collateral, the counterparty has the option to: (1) place an equivalent amount of additional securities in safekeeping in the FHLBank’s name; or (2) remit an equivalent amount of cash; otherwise, the dollar value of the resale agreement will be decreased accordingly. Federal funds sold consist of short-term unsecured loans generally conducted with investment-grade counterparties. | ||||
Investment Securities | ' | |||
Investment Securities: The FHLBank classifies investments as trading, available-for-sale and held-to-maturity at the date of acquisition. Purchases and sales of securities are recorded on a trade date basis. | ||||
Trading: Securities classified as trading are held for liquidity purposes and/or to provide a fair value offset to interest rate swaps tied to securities or for securities acquired as asset liability management tools and carried at fair value. The FHLBank records changes in the fair value of these securities through other income (loss) as net gains (losses) on trading securities. Finance Agency regulation and the FHLBank’s Risk Management Policy (RMP) prohibit trading in or the speculative use of these instruments and limits credit risk arising from these instruments. While the FHLBank classifies certain securities as trading for financial reporting purposes, it does not actively trade any of these securities with the intent of realizing gains and holds these investments indefinitely as management periodically evaluates its asset/liability and liquidity needs. Short-term money market investments with maturities of three months or less are acquired and classified as trading securities primarily for liquidity purposes. These short-term money market investments are periodically sold to meet the FHLBank’s cash flow needs. | ||||
Available-for-Sale: Securities that are not classified as trading or held-to-maturity are classified as available-for-sale and are carried at fair value. The change in fair value of available-for-sale securities is recorded in other comprehensive income (loss) (OCI) as net unrealized gains (losses) on available-for-sale securities. | ||||
Held-to-Maturity: Securities that the FHLBank has both the ability and intent to hold to maturity are classified as held-to-maturity and are carried at cost, adjusted for periodic principal repayments, amortization of premiums, accretion of discounts and OTTI recognized in net income and OCI. | ||||
The FHLBank may change its intent to hold to maturity a held-to-maturity investment without changing its intent to hold to maturity other held-to-maturity investments for the following circumstances: (1) evidence of a significant deterioration in the issuer’s creditworthiness; (2) a change in statutory or regulatory requirements significantly modifying either what constitutes a permissible investment or the maximum level of investments in certain kinds of investments, thereby causing the FHLBank to dispose of a held-to-maturity investment; (3) a significant increase by a regulator in the FHLBank’s capital requirements that causes the FHLBank to downsize by selling held-to-maturity investments; or (4) a significant increase in the risk weights of debt securities used for regulatory risk-based capital purposes. The FHLBank considers the following situations maturities for purposes of assessing ability and intent to hold to maturity: (1) the sale of the security is near enough to maturity (or call date if exercise of the call is probable) that interest rate risk is substantially eliminated as a pricing factor and the changes in market interest rates would not have a significant effect on the security’s fair value; or (2) the sale of a security occurs after the FHLBank has already collected a substantial portion (at least 85 percent) of the principal outstanding at acquisition either due to prepayments on the debt security or to scheduled payments on a debt security payable in equal installments (both principal and interest) over its term. | ||||
Premiums and Discounts: The FHLBank computes the amortization of purchased premiums and accretion of purchased discounts on mortgage-backed securities (MBS) using the level-yield method over the estimated cash flows of the securities. This method requires a retrospective adjustment of the effective yield each time the FHLBank receives a principal repayment or changes the estimated remaining cash flows as if the actual principal repayments and new estimated cash flows had been known since the original acquisition dates of the securities. The FHLBank uses nationally recognized, market-based third-party prepayment models to estimate future cash flows. The FHLBank computes the amortization of premiums and accretion of discounts on other investments using the level-yield method to the contractual maturities of the securities. | ||||
Gains and Losses on Sales: Gains and losses on the sales of investment securities are computed using the specific identification method and are included in other income (loss). | ||||
Investment Securities – Other-than-temporary Impairment: The FHLBank evaluates its individual held-to-maturity investment securities holdings in an unrealized loss position for OTTI at least quarterly, or more frequently if events or changes in circumstances indicate that these investments may be other-than-temporarily impaired. An investment is considered impaired when its fair value is less than its amortized cost basis. The FHLBank considers an OTTI to have occurred under any of the following circumstances: | ||||
§ | The FHLBank has the intent to sell the impaired debt security; | |||
§ | The FHLBank believes, based on available evidence, it is more likely than not that it will be required to sell the debt security before the recovery of its amortized cost basis; or | |||
§ | The FHLBank does not expect to recover the entire amortized cost basis of the impaired debt security. | |||
Recognition of OTTI: If either of the first two conditions above is met, the FHLBank recognizes an OTTI charge in earnings equal to the entire difference between the security’s amortized cost basis and its fair value as of the Statement of Condition date. For securities in an unrealized loss position that meet neither of the first two conditions, the entire loss position, or total OTTI, is evaluated to determine the extent and amount of credit loss. | ||||
To determine whether a credit loss exists, the FHLBank performs an analysis, which includes a cash flow analysis for private-label MBS/ABS, to determine if it will recover the entire amortized cost basis of each of these securities. The present value of the cash flows expected to be collected is compared to the amortized cost basis of the security to determine if a credit loss exists. If there is a credit loss, the carrying value of the security is adjusted to its fair value. However, rather than recognizing the entire difference between the amortized cost basis and the fair value in earnings, only the amount of the impairment representing the credit loss (i.e., the credit component) is recognized in earnings, while the amount related to all other factors (i.e., the non-credit component) is recognized in Accumulated OCI (AOCI), which is a component of capital. The credit loss on a debt security is limited to the amount of that security’s unrealized losses. | ||||
The total OTTI is presented in the Statements of Income with an offset for the amount of the non-credit potion of OTTI that is recognized in AOCI. The remaining amount in the Statements of Income represents the credit loss for the period. | ||||
Accounting for OTTI Recognized in AOCI: For subsequent accounting of other-than-temporarily impaired securities, the FHLBank records an additional OTTI if the present value of cash flows expected to be collected is less than the amortized cost basis. The total amount of this additional OTTI is determined as the difference between its carrying amount prior to the determination of this additional OTTI and its fair value. Additional credit losses related to previously other-than-temporarily impaired securities are reclassified out of AOCI into the Statements of Income, but only to the extent of a security’s unrealized losses (i.e., difference between the security’s amortized cost and its fair value). The OTTI recognized in AOCI is accreted to the carrying value of each security on a prospective basis, based on the amount and timing of future estimated cash flows (with no effect on earnings unless the security is subsequently sold or there are additional decreases in cash flows expected to be collected). | ||||
Interest Income Recognition: The FHLBank recognizes subsequent interest income in accordance with the method described in accounting guidance for beneficial interests in securitized financial assets. As of the impairment measurement date, a new accretable yield is calculated for the impaired investment security. This adjusted yield is used to calculate the amount to be recognized into income over the remaining life of the security so as to match the amount and timing of future cash flows expected to be collected. Subsequent changes in estimated cash flows change the accretable yield on a prospective basis. The estimated cash flows and accretable yield are re-evaluated on a quarterly basis. | ||||
Advances | ' | |||
Advances: The FHLBank presents advances (secured loans to members, former members or housing associates) net of unearned commitment fees, premiums, discounts and fair value basis adjustments. The FHLBank amortizes the premiums and accretes the discounts on advances to interest income using the level-yield method. The FHLBank records interest on advances to interest income as earned. | ||||
Advance Modifications: In cases in which the FHLBank funds a new advance concurrently with or within a short period of time before or after the prepayment of an existing advance, the FHLBank evaluates whether the new advance meets the accounting criteria to qualify as a modification of an existing advance or whether it constitutes a new advance. The FHLBank compares the present value of cash flows on the new advance to the present value of cash flows remaining on the existing advance. If there is at least a 10 percent difference in the cash flows or if the FHLBank concludes the differences between the advances are more than minor based on qualitative factors, the advance is accounted for as a new advance. In all other instances, the new advance is accounted for as a modification. | ||||
Prepayment Fees: The FHLBank charges prepayment fees to its borrowers when certain advances are repaid before their original maturities. The FHLBank records prepayment fees net of hedging fair value basis adjustments included in the carrying value of the advance, as “Prepayment fees on terminated advances” in the interest income section of its Statements of Income. | ||||
If a new advance does not qualify as a modification of an existing advance, it is treated as an advance termination and any prepayment fee, net of hedging adjustments, is recorded to “Prepayment fees on terminated advances” in the interest income section of the Statements of Income. | ||||
If the new advance qualifies as a modification, the net prepayment fee received on the prepaid advance is deferred as a discount and included in the basis of the modified advance. The basis adjustment is amortized over the life of the modified advance to advance interest income. If the modified advance is hedged, the fair value gain or loss on the advance and the prepayment fee are included in the carrying amount of the modified advance, and any prior gains or losses and prepayment fees are amortized to interest income over the life of the modified advance using the level-yield method. Modified hedged advances are marked to benchmark fair value after the modification, and subsequent fair value changes are recorded in “Net gain (loss) on derivatives and hedging activities” in other income (loss). | ||||
Mortgage Loans Held for Portfolio | ' | |||
Mortgage Loans Held for Portfolio: The FHLBank carries mortgage loans classified as held for investment at their principal amount outstanding, net of unamortized premiums, unaccreted discounts, deferred loan fees associated with table funded loans, hedging adjustments, unrealized gains and losses from mortgage purchase commitments and other fees. The FHLBank has the intent and ability to hold these mortgage loans to maturity. | ||||
Premiums and Discounts: The FHLBank defers and amortizes/accretes mortgage loan origination fees (agent fees) and premiums and discounts paid to and received from participating financial institutions (PFI) as interest income using the contractual method. The contractual method uses the cash flows required by the loan contracts, as adjusted for actual prepayments, to apply the interest method. The contractual method does not utilize estimates of future prepayments of principal. | ||||
Credit Enhancement Fees: The credit enhancement (CE) obligation is an obligation on the part of the PFI that ensures the retention of credit risk on loans it originates on behalf of or sells to the FHLBank. The amount of the CE obligation is determined at the time of purchase so that any losses in excess of the CE obligation for each pool of mortgage loans purchased approximate those experienced by an investor in a double-A rated MBS. As a part of our methodology to determine the amount of credit enhancement necessary, we analyze the risk characteristics of each mortgage loan using a model licensed from a Nationally Recognized Statistical Rating Organization (NRSRO). We use the model to evaluate loan data provided by the PFI as well as other relevant information. | ||||
The FHLBank pays the PFI a CE fee for managing this portion of the credit risk in the pool of loans. CE fees are paid monthly based on the remaining unpaid principal balance (UPB) of the loans in a master commitment. The required CE obligation amount may vary depending on the various product alternatives selected by the PFI. CE fees are recorded as an offset to mortgage loan interest income. To the extent the FHLBank experiences a loss in a master commitment, the FHLBank may be able to recapture future performance-based CE fees paid to the PFIs to offset these losses. | ||||
Mortgage Loan Participations: The FHLBank entered into an agreement with FHLBank of Indianapolis to sell participation interests in master commitments of FHLBank Topeka’s PFIs in mid-2012. The risk sharing and rights are allocated pro-ratably based upon each FHLBank’s percentage participation in the related master commitment. This agreement was in effect throughout 2013. | ||||
Other Fees: The FHLBank may receive other non-origination fees, such as delivery commitment extension fees and pair-off fees as part of the mark-to-market on derivatives to which they related or as part of the loan basis, as applicable. Delivery commitment extension fees are received when a PFI requires an extension of the delivery commitment period beyond the original stated expiration. These fees compensate the FHLBank for lost interest as a result of late funding and represent the member purchasing a derivative from the FHLBank. Pair-off fees are received from the PFI when the amount funded is more than or less than a specific percentage range of the delivery commitment amount. These fees compensate the FHLBank for hedge costs associated with the under-delivery or over-delivery. To the extent that pair off fees relate to under-deliveries of loans, they are included in the mark-to-market of the related delivery commitment derivative. If they relate to over-deliveries, they represent purchase price adjustments to the related loans acquired and are recorded as a part of the carrying value of the loan. | ||||
Allowance for Credit Losses | ' | |||
Allowance for Credit Losses: An allowance for credit losses is a valuation allowance separately established for each identified portfolio segment, if necessary, to provide for probable losses inherent in the FHLBank’s portfolios as of the Statement of Condition date. To the extent necessary, an allowance for credit losses for off-balance sheet credit exposures is recorded as a liability. See Note 7 for details on each allowance methodology. | ||||
Portfolio Segments: A portfolio segment is defined as the level at which an entity develops and documents a systematic methodology for determining its allowance for credit losses. The FHLBank has developed and documented a systematic methodology for determining an allowance for credit losses, where applicable, for: (1) credit products (advances, letters of credit and other extensions of credit to members); (2) government-guaranteed or insured mortgage loans held for portfolio; (3) conventional mortgage loans held for portfolio; (4) the direct financing lease receivable; (5) term Federal funds sold; and (6) term securities purchased under agreements to resell. | ||||
Classes of Finance Receivables: Classes of finance receivables generally are a disaggregation of a portfolio segment to the extent that it is needed to understand the exposure to credit risk arising from these financing receivables. The FHLBank has determined that no further disaggregation of portfolio segments identified previously is needed as the credit risk arising from these financing receivables is assessed and measured at the portfolio segment level. | ||||
Non-accrual Loans: The FHLBank places a conventional mortgage loan on non-accrual status if it is determined that either: (1) the collection of interest or principal is doubtful; or (2) interest or principal is past due for 90 days or more, except when the loan is well-secured (e.g., through credit enhancements) and in the process of collection. The FHLBank does not place government-guaranteed or insured mortgage loans on non-accrual status due to the U.S. government guarantee or insurance on these loans and the contractual obligation of the loan servicer to repurchase the loans when certain criteria are met. For those mortgage loans placed on non-accrual status, accrued but uncollected interest is reversed against interest income. The FHLBank records cash payments received on non-accrual loans first as interest income and then as a reduction of principal as specified in the contractual agreement, unless the collection of the remaining principal amount due is considered doubtful. If the collection of the remaining principal amount due is considered doubtful then cash payments received would be applied first solely to principal until the remaining principal amount due is expected to be collected and then as a recovery of any charge-off, if applicable, followed by recording interest income. A loan on non-accrual status may be restored to accrual when: (1) none of its contractual principal and interest is due and unpaid, and the FHLBank expects repayment of the remaining contractual principal and interest; or (2) it otherwise becomes well secured and in the process of collection. | ||||
Troubled Debt Restructuring: The FHLBank considers a troubled debt restructuring to have occurred when a concession is granted to a borrower for economic or legal reasons related to the borrower’s financial difficulties and that concession would not have been considered otherwise. Loans that are discharged in Chapter 7 bankruptcy and have not been reaffirmed by the borrowers are also considered to be troubled debt restructurings, except in cases where certain supplemental mortgage insurance policies are held or where all contractual amounts due are still expected to be collected as a result of certain credit enhancements or government guarantees. | ||||
Impairment Methodology: A loan is considered impaired when, based on current information and events, it is probable that the FHLBank will be unable to collect all amounts due according to the contractual terms of the loan agreement. | ||||
Loans that are on non-accrual status and that are considered collateral-dependent are measured for impairment based on the fair value of the underlying property less estimated selling costs. Loans are considered collateral-dependent if repayment is expected to be provided solely by the sale of the underlying property, that is, there is no other available and reliable source of repayment. Collateral-dependent loans are impaired if the fair value of the underlying collateral is insufficient to recover the unpaid balance on the loan. Interest income on impaired loans is recognized in the same manner as non-accrual loans. | ||||
Charge-off Policy: The FHLBank evaluates whether to record a charge-off on a conventional mortgage loan upon the occurrence of a confirming event. Confirming events include, but are not limited to, the occurrence of foreclosure or notification of a claim against any of the credit enhancements. A charge-off is recorded if the recorded investment in the loan will not be recovered. | ||||
Real Estate Owned | ' | |||
Real Estate Owned: Real estate owned (REO) includes assets that have been received in satisfaction of debt through foreclosures. REO is recorded at the lower of cost or fair value less estimated selling costs. The FHLBank recognizes a charge-off to the allowance for credit losses if the fair value of the REO less estimated selling costs is less than the recorded investment in the loan at the date of transfer from loans to REO. Any subsequent realized gains, realized or unrealized losses and carrying costs are included in other expense in the Statements of Income. REO is recorded in other assets in the Statements of Condition. | ||||
Derivatives | ' | |||
Derivatives: All derivatives are recognized on the Statements of Condition at their fair value and are reported as either derivative assets or derivative liabilities, net of cash collateral, including initial and variation margin, and accrued interest received or pledged by clearing agents and/or counterparties. The fair values of derivatives are netted by clearing agent or counterparty when the netting requirements have been met. If these netted amounts are positives, they are classified as an asset and, if negative, they are classified as a liability. Cash flows associated with derivatives are reflected as cash flows from operating activities in the Statements of Cash Flows unless the derivative meets the criteria to be a financing derivative. | ||||
Derivative Designations: Each derivative is designated as one of the following: | ||||
§ | a qualifying fair value hedge of the change in fair value of: (1) a recognized asset or liability; or (2) an unrecognized firm commitment; | |||
§ | a qualifying cash flow hedge of: (1) a forecasted transaction; or (2) the variability of cash flows that are to be received or paid in connection with a recognized asset or liability; | |||
§ | a non-qualifying hedge of an asset or liability (an economic hedge) for asset/liability management purposes; or | |||
§ | a non-qualifying hedge of another derivative (an intermediary hedge) that is offered as a product to members. | |||
Accounting for Qualifying Hedges: If hedging relationships meet certain criteria, including, but not limited to, formal documentation of the hedging relationship and an expectation to be highly effective, they qualify for hedge accounting and the offsetting changes in fair value of the hedged items may be recorded in earnings (fair value hedges) or AOCI (cash flow hedges). Two approaches to hedge accounting include: | ||||
§ | Long haul hedge accounting – The application of long haul hedge accounting generally requires the FHLBank to formally assess (both at the hedge's inception and at least quarterly) whether the derivatives that are used in hedging transactions have been effective in offsetting changes in the fair value or cash flows of hedged items or forecasted transactions and whether those derivatives may be expected to remain effective in future periods. | |||
§ | Shortcut hedge accounting – Transactions that meet more stringent criteria qualify for the shortcut method of hedge accounting in which an assumption can be made that the change in fair value of a hedged item, due to changes in the benchmark rate, exactly offsets the change in fair value of the related derivative. Under the shortcut method, the entire change in fair value of the interest rate swap is considered to be effective at achieving offsetting changes in fair values or cash flows of the hedged asset or liability. The FHLBank discontinued using shortcut hedge accounting for all derivative transactions entered into on or after July 1, 2008. | |||
Derivatives are typically executed at the same time as the hedged item, and the FHLBank designates the hedged item in a qualifying hedge relationship at the trade date. In many hedging relationships, the FHLBank may designate the hedging relationship upon its commitment to disburse an advance or trade a consolidated obligation in which settlement occurs within the shortest period of time possible for the type of instrument based on market settlement conventions. The FHLBank defines market settlement conventions for advances to be five business days or less and for consolidated obligations to be thirty calendar days or less, using a next business day convention. The FHLBank then records the changes in fair value of the derivative and the hedged item beginning on the trade date. | ||||
Changes in the fair value of a derivative that is designated and qualifies as a fair value hedge, along with changes in the fair value of the hedged asset or liability that are attributable to the hedged risk (including changes that reflect losses or gains on firm commitments), are recorded in current period earnings. Changes in the fair value of a derivative that is designated and qualifies as a cash flow hedge, to the extent that the hedge is effective, are recorded in AOCI, a component of capital, until earnings are affected by the variability of the cash flows of the hedged transaction (i.e., until the recognition of interest on a variable rate asset or liability is recorded in earnings). For both fair value and cash flow hedges, any hedge ineffectiveness (which represents the amount by which the change in the fair value of the derivative differs from the change in fair value of the hedged item or the variability in the cash flows of the forecasted transaction) is recorded in current period earnings. | ||||
Accounting for Non-Qualifying Hedges: An economic hedge is defined as a derivative hedging specific or non-specific underlying assets, liabilities or firm commitments that does not qualify for hedge accounting but is an acceptable hedging strategy under the FHLBank’s RMP. These economic hedging strategies also comply with Finance Agency regulatory requirements prohibiting speculative derivative transactions. An economic hedge by definition introduces the potential for earnings variability caused by changes in fair value on the derivatives that are recorded in the FHLBank’s income but not offset by corresponding changes in the fair value of the economically hedged assets, liabilities or firm commitments being recorded simultaneously in income. As a result, the FHLBank recognizes only the net interest and the change in fair value of these derivatives in other income (loss) as “Net gain (loss) on derivatives and hedging activities” with no offsetting fair value adjustments for the assets, liabilities or firm commitments. | ||||
The derivatives used in intermediary activities do not qualify for hedge accounting treatment and are separately marked-to-market through earnings. The net result of the accounting for these derivatives does not significantly affect the operating results of the FHLBank. These amounts are recorded in other income (loss) as “Net gains (losses) on derivatives and hedging activities.” | ||||
Accrued Interest Receivables and Payables: The differentials between accruals of interest receivables and payables on derivatives designated as fair value or cash flow hedges are recognized as adjustments to the interest income or expense of the designated underlying investment securities, advances, consolidated obligations or other financial instruments, thereby affecting the reported amount of net interest income on the Statements of Income. Changes in the fair value of an economic or intermediary hedge are recorded in current period earnings. The differentials between accruals of interest receivables and payables on intermediated derivatives for members and other economic hedges are recognized as other income (loss). Therefore, both the net interest on the stand-alone derivatives and the fair value changes are recorded in other income (loss) as “Net gain (loss) on derivatives and hedging activities.” | ||||
Discontinuance of Hedge Accounting: The FHLBank discontinues hedge accounting prospectively when: (1) it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of a hedged item (including hedged items such as firm commitments or forecasted transactions); (2) the derivative and/or the hedged item expires or is sold, terminated or exercised; (3) it is no longer probable that the forecasted transaction will occur in the originally expected period; (4) a hedged firm commitment no longer meets the definition of a firm commitment; or (5) management determines that designating the derivative as a hedging instrument is no longer appropriate. | ||||
When hedge accounting is discontinued because the FHLBank determines that the derivative no longer qualifies as an effective fair value hedge of an existing hedged item, the FHLBank continues to carry the derivative on its Statements of Condition at fair value, ceases to adjust the hedged asset or liability for changes in fair value, and begins amortizing the cumulative basis adjustment on the hedged item into earnings over the remaining life of the hedged item using the level-yield method. When hedge accounting is discontinued because the FHLBank determines that the derivative no longer qualifies as an effective cash flow hedge of an existing hedged item, the FHLBank continues to carry the derivative on its Statements of Condition at fair value and amortizes the cumulative OCI adjustment to earnings when earnings are affected by the original forecasted transaction. In all situations in which hedge accounting is discontinued and the derivative remains outstanding, the FHLBank carries the derivative at fair value on its Statements of Condition, recognizing changes in the fair value of the derivative in current-period earnings. When the FHLBank discontinues hedge accounting because it is probable that a forecasted transaction will not occur by the end of the originally specified time period or within an additional two-month period of time thereafter, the gains and losses in AOCI will be recognized immediately in earnings. When hedge accounting is discontinued because the hedged item no longer meets the definition of a firm commitment, the FHLBank continues to carry the derivative on its Statements of Condition at fair value, removing any asset or liability that was recorded to recognize the firm commitment and recording it as a gain or loss in current period earnings. | ||||
Embedded Derivatives: The FHLBanks may issue debt, make advances, or purchase financial instruments in which a derivative instrument is embedded. Upon execution of these transactions, the FHLBank assesses whether the economic characteristics of the embedded derivative are clearly and closely related to the economic characteristics of the remaining component of the advance, debt or purchased financial instrument (the host contract) and whether a separate, non-embedded instrument with the same terms as the embedded instrument would meet the definition of a derivative instrument. When the FHLBank determines that: (1) the embedded derivative has economic characteristics that are not clearly and closely related to the economic characteristics of the host contract; and (2) a separate, stand-alone instrument with the same terms would qualify as a derivative instrument, the embedded derivative is separated from the host contract, carried at fair value, and designated as a stand-alone derivative instrument pursuant to an economic hedge. However, if the entire contract (the host contract and the embedded derivative) is to be measured at fair value, with changes in fair value reported in current period earnings (such as an investment security classified as trading), or if the FHLBank cannot reliably identify and measure the embedded derivative for purposes of separating that derivative from its host contract, the entire contract is carried on the Statements of Condition at fair value and no portion of the contract is designated as a hedging instrument. | ||||
Premises, Software and Equipment | ' | |||
Premises, Software and Equipment: The FHLBank records premises, software, and equipment at cost less accumulated depreciation and amortization. Depreciation is computed on the straight-line method over the estimated useful lives of the assets ranging from 3 to 20 years. Leasehold improvements are amortized on the straight-line basis over the shorter of the estimated useful life of the improvement or the remaining term of the lease. Improvements and major renewals are capitalized, and ordinary maintenance and repairs are expensed as incurred. As of December 31, 2013 and 2012, the accumulated depreciation and amortization related to premises, software and equipment was $25,774,000 and $24,187,000, respectively. Depreciation and amortization expense was $1,943,000, $2,152,000 and $2,866,000 for the years ended years ended December 31, 2013, 2012, and 2011, respectively. Gains and losses on disposals are included in other income (loss). The net realized gain (loss) on disposal of premises, software and equipment was $17,000, $(1,951,000), and $6,000 for the years ended years ended December 31, 2013, 2012, and 2011, respectively. The loss on disposal of premises, software and equipment for 2012 includes the write-off of two software projects prior to implementation. | ||||
The cost of purchased software and certain costs incurred in developing computer software for internal use is capitalized and amortized over future periods. Amortization is computed on the straight-line method over three years for purchased software and five years for developed software. As of December 31, 2013 and 2012, the FHLBank had $2,235,000 and $1,309,000, respectively, in unamortized computer software costs included in premises, software and equipment on its Statements of Condition. Amortization of computer software costs charged to expense was $651,000, $764,000 and $1,378,000 for the years ended years ended December 31, 2013, 2012, and 2011, respectively. | ||||
Consolidated Obligations | ' | |||
Consolidated Obligations: Consolidated obligations are recorded at amortized cost. | ||||
Discounts and Premiums: Consolidated obligation discounts are accreted and premiums are amortized to interest expense using a level-yield methodology over the contractual maturities of the corresponding debt. | ||||
Concessions: Amounts paid to dealers in connection with sales of consolidated obligations are deferred and amortized using the level-yield method over the contractual terms of the consolidated obligations. Concession amounts are prorated to the FHLBank by the Office of Finance based on the percentage of each consolidated obligation issued by the Office of Finance on behalf of the FHLBank. Unamortized concessions are included in “Other assets” and the amortization of those concessions is included in consolidated obligation interest expense. | ||||
Mandatorily Redeemable Capital Stock | ' | |||
Mandatorily Redeemable Capital Stock: The FHLBank reclassifies all stock subject to redemption from capital to liability once a member submits a written redemption request, gives notice of intent to withdraw from membership, or attains non-member status by merger or acquisition, charter termination or involuntary termination from membership, since the member shares will then meet the definition of a mandatorily redeemable financial instrument. There is no distinction as to treatment for reclassification from capital to liability between in-district redemption requests and those redemption requests triggered by out-of-district acquisitions. The FHLBank does not take into consideration its members’ right to cancel a redemption request in determining when shares of capital stock should be classified as a liability because the cancellation would be subject to a substantial cancellation fee. Member and non-member shares meeting the definition of mandatorily redeemable capital stock are reclassified to a liability at fair value, which has been determined to be par value ($100) plus any estimated accrued but unpaid dividends. The FHLBank’s dividends are declared and paid at each quarter-end; therefore, the fair value reclassified equals par value. Dividends declared on member shares for the time after classification as a liability are accrued at the expected dividend rate and reflected as interest expense in the Statements of Income. The repurchase of these mandatorily redeemable financial instruments by the FHLBank are reflected as financing cash outflows in the Statements of Cash Flows once settled. | ||||
If a member submits a written request to cancel a previously submitted written redemption request, the capital stock covered by the written cancellation request is reclassified from a liability to capital at fair value. After the reclassification, dividends on the capital stock are no longer classified as interest expense. | ||||
Restricted Retained Earnings | ' | |||
Restricted Retained Earnings: In 2011, the FHLBank entered into a Joint Capital Enhancement Agreement, as amended (JCE Agreement). Under the JCE Agreement, beginning in the third quarter of 2011, the FHLBank allocates 20 percent of its quarterly net income to a separate restricted retained earnings (RRE) account until the account balance equals at least 1 percent of its average balance of outstanding consolidated obligations for the previous quarter. These restricted retained earnings are not available to pay dividends and are presented separately on the Statements of Condition. | ||||
Finance Agency Expenses | ' | |||
Finance Agency Expenses: A portion of the Finance Agency’s expenses and working capital fund are allocated among the FHLBanks based on the pro rata share of the annual assessments based on the ratio between each FHLBank’s minimum required regulatory capital and the aggregate minimum required regulatory capital of every FHLBank. | ||||
Office Of Finance Expenses | ' | |||
Office of Finance Expenses: Each FHLBank’s proportionate share of Office of Finance operating and capital expenditures is calculated using a formula that is based upon the following components: (1) two-thirds based upon each FHLBank’s share of total consolidated obligations outstanding; and (2) one-third based upon an equal pro rata allocation. | ||||
Assessments | ' | |||
Assessments: | ||||
Affordable Housing Program (AHP): The FHLBank is required to establish, fund and administer an AHP. The AHP funds provide subsidies to members to assist in the purchase, construction or rehabilitation of housing for very low-, low- and moderate-income households. The required annual AHP funding is charged to earnings, and an offsetting liability is established. | ||||
Resolution Funding Corporation (REFCORP): Although the FHLBank is exempt from all federal, state and local taxation except for real property taxes, it was required to make quarterly payments to REFCORP through the second quarter of 2011, after which the obligation was satisfied. These payments represented a portion of the interest on bonds issued by REFCORP. REFCORP is a government corporation established by Congress in 1989 that provided funding for the resolution and disposition of insolvent savings institutions. Officers, employees and agents of the Office of Finance are authorized to act for and on behalf of REFCORP to carry out the functions of REFCORP. | ||||
Recently_Issued_Accounting_Sta1
Recently Issued Accounting Standards And Interpretations And Changes In And Adoptions Of Accounting Principles (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Recently Issued Accounting Standards And Interpretations And Changes In And Adoptions Of Accounting Principles [Abstract] | ' |
Recently Adopted Significant Accounting Policies | ' |
Receivables - Troubled Debt Restructurings by Creditors. In January 2014, the Financial Accounting Standards Board (FASB) issued amendments intended to clarify when a creditor should be considered to have received physical possession of the residential real estate property collateralizing a consumer mortgage loan. These amendments clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, when either: (a) the creditor obtains legal title to the residential real estate property upon completion of a foreclosure; or (b) the borrower conveys all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The amendments are effective for interim and annual periods beginning after December 15, 2014 (January 1, 2015 for the FHLBank). Early adoption is permitted. The guidance may be adopted using a modified retrospective transition method or a prospective transition method. The adoption of this amendment is not expected to a have a material impact on the FHLBank's financial condition, results of operations, or cash flows. | |
Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes. In July 2013, the FASB issued an amendment which allows the overnight Fed Funds Effective Swap Rate (OIS) to be used as a U.S. benchmark rate for hedge accounting purposes. Previously, only U.S. Treasury rates (UST) and the London Interbank Offered Rate (LIBOR) swap rate were allowable benchmark rates. The amended guidance also removes the restriction on using different benchmark rates for similar hedges. The amendments apply to all entities that elect to apply hedge accounting of the benchmark interest rate. The amendments were effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of this guidance did not materially impact the FHLBank’s financial condition, results of operations or cash flows, or any of the FHLBank’s hedging strategies. | |
Joint and Several Liability: In February 2013, the FASB issued guidance for the recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date. This guidance requires an entity to measure these obligations as the sum of: (1) the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors; and (2) any additional amount the reporting entity expects to pay on behalf of its co-obligors. In addition, this guidance requires an entity to disclose the nature and amount of the obligation as well as other information about these obligations. This guidance is effective for interim and annual periods beginning on or after December 15, 2013 (January 1, 2014 for the FHLBank) and should be applied retrospectively to obligations with joint and several liabilities existing at the beginning of an entity’s fiscal year of adoption. The FHLBank does not expect this new guidance to have a material effect on its financial condition, results of operations or cash flows. | |
Comprehensive Income – Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income: In February 2013, the FASB issued guidance which requires entities to provide information about significant reclassifications of items out of accumulated other comprehensive income (AOCI) by component. Entities are required to report the effect of significant reclassifications out of AOCI on the respective line items in net income if the amount being reclassified is required under GAAP to be reclassified in its entirety. For other amounts not required to be reclassified in their entirety, the entity is required to cross-reference to other disclosures that provide additional detail about these amounts. This guidance was effective prospectively for the FHLBank for interim and annual periods beginning on January 1, 2013. The adoption of this guidance resulted in increased financial statement disclosures, but did not impact the FHLBank’s financial condition, results of operations or cash flows. | |
Offsetting Assets and Liabilities: In December 2011, the FASB and the International Accounting Standards Board (IASB) issued common disclosure requirements intended to help investors and other financial statement users better assess the effect or potential effect of offsetting arrangements on an entity’s financial position, regardless of whether an entity’s financial statements are prepared on the basis of GAAP or International Financial Reporting Standards (IFRS). This guidance requires the FHLBank to disclose both gross and net information about financial instruments, including derivative instruments, repurchase agreements and securities purchased under agreements to resell, which are either offset on its Statements of Condition or subject to an enforceable master netting arrangement or similar agreement. This guidance was effective for the FHLBank for interim and annual periods beginning on January 1, 2013 and was applied retrospectively for all comparative periods presented. The FHLBank adopted the guidance as of January 1, 2013. The adoption of this guidance resulted in increased financial statement disclosures, but did not affect the FHLBank’s financial condition, results of operations or cash flows. | |
Allowance_For_Credit_Losses_Po
Allowance For Credit Losses (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Allowance For Credit Losses [Abstract] | ' |
Loans and Leases Receivable, Mortgage Banking Activities, Policy [Policy Text Block] | ' |
Government Mortgage Loans Held For Portfolio: The FHLBank invests in government-guaranteed or insured (by FHA, VA, RHA and/or HUD) fixed rate mortgage loans secured by one-to-four family residential properties. The servicer provides and maintains insurance or a guarantee from the applicable government agency. The servicer is responsible for compliance with all government agency requirements and for obtaining the benefit of the applicable insurance or guarantee with respect to defaulted government mortgage loans. Any losses on these loans that are not recovered from the issuer or guarantor are absorbed by the servicers. Therefore, the FHLBank only has credit risk for these loans if the servicer fails to pay for losses not covered by the insurance or guarantee. Based on the FHLBank’s assessment of its servicers, the FHLBank has not established an allowance for credit losses on government mortgage loans. Further, none of these mortgage loans have been placed on non-accrual status because of the U.S. government guarantee or insurance on these loans and the contractual obligation of the loan servicer to repurchase the loans when certain criteria are met. | |
Conventional Mortgage Loans Held For Portfolio: The allowances for conventional loans are determined by performing migration analysis to determine the probability of default and loss severity rates. This is done through analyses that include consideration of various data observations such as past performance, current performance, loan portfolio characteristics, collateral-related characteristics, industry data and prevailing economic conditions. The measurement of the allowance for loan losses may consist of: (1) reviewing all residential mortgage loans at the individual master commitment level; (2) reviewing specifically identified collateral-dependent loans for impairment; (3) reviewing homogeneous pools of residential mortgage loans; and/or (4) estimating credit losses in the remaining portfolio. | |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | ' |
Mortgage Loans Evaluated at the Individual Master Commitment Level: The credit risk analysis of all conventional loans is performed at the individual master commitment level to properly determine the credit enhancements available to recover losses on mortgage loans under each individual master commitment. | |
Collectively Evaluated Mortgage Loans: The credit risk analysis of conventional loans evaluated collectively for impairment considers loan pool specific attribute data, applies estimated loss severities and incorporates the associated credit enhancements in order to determine the FHLBank’s best estimate of probable incurred losses. Migration analysis is a methodology for determining, through the FHLBank’s experience over a historical period, the rate of default on pools of similar loans. The FHLBank applies migration analysis to loans based on the following categories: (1) loans in foreclosure; (2) nonaccrual loans; (3) delinquent loans; and (4) all other remaining loans. The FHLBank then estimates how many loans in these categories may migrate to a realized loss position and applies a loss severity factor to estimate losses incurred as of the Statement of Condition date. | |
Individually Evaluated Mortgage Loans: Certain conventional mortgage loans, primarily impaired mortgage loans that are considered collateral-dependent, may be specifically identified for purposes of calculating the allowance for credit losses. A mortgage loan is considered collateral-dependent if repayment is only expected to be provided by the sale of the underlying property, that is, if it is considered likely that the borrower will default and there is not sufficient CE obligation from a PFI to offset all losses under the master commitment. The estimated credit losses on impaired collateral-dependent loans may be separately determined because sufficient information exists to make a reasonable estimate of the inherent loss for these loans on an individual loan basis. The FHLBank applies an appropriate loss severity rate, which is used to estimate the fair value of the collateral. The resulting incurred loss is equal to the difference between the carrying value of the loan and the estimated fair value of the collateral less estimated selling costs. | |
Derivatives_And_Hedging_Activi1
Derivatives And Hedging Activities (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Derivatives And Hedging Activities [Abstract] | ' |
Derivatives, Methods of Accounting, Derivative Types | 'Types of Derivatives: The FHLBank commonly enters into interest rate swaps (including callable and putable swaps), swaptions, and interest rate cap and floor agreements (collectively, derivatives) to reduce funding costs and to manage its exposure to interest rate risks inherent in the normal course of business. These instruments are recorded at fair value and reported in derivative assets or derivative liabilities on the Statements of Condition. Premiums paid at acquisition are accounted for as the basis of the derivative at inception of the hedge.Interest Rate Swaps b An interest rate swap is an agreement between two entities to exchange cash flows in the future. The agreement sets the dates on which the cash flows will be paid and the manner in which the cash flows will be calculated. One of the simplest forms of an interest rate swap involves the promise by one party to pay cash flows equivalent to the interest on a notional principal amount at a predetermined fixed rate for a given period of time. In return for this promise, this party receives cash flows equivalent to the interest on the same notional principal amount at a variable interest rate index for the same period of time. The variable interest rate received or paid by the FHLBank in most derivative transactions is LIBOR.Swaptions b A swaption is an option that gives the buyer the right to enter into a specified interest rate swap at a certain time in the future. When used as a hedge, a swaption can protect the FHLBank against future interest rate changes. The FHLBank may purchase both payer swaptions and receiver swaptions to decrease its interest rate risk exposure related to the prepayment of certain assets. A payer swaption is the option to make fixed interest payments at a later date and a receiver swaption is the option to receive fixed interest payments at a later date.Interest Rate Caps and Floors b In an interest rate cap agreement, a cash flow is generated if the price or interest rate of an underlying variable rises above a certain threshold (or cap) price or interest rate. In an interest rate floor agreement, a cash flow is generated if the price or interest rate of an underlying variable falls below a certain threshold (or floor) price or interest rate. Caps may be used in conjunction with liabilities and floors may be used in conjunction with assets. Caps and floors are designed as protection against the interest rate on a variable rate asset or liability rising or falling below a certain level. The FHLBank purchases interest rate caps and floors to hedge option risk on variable rate MBS held in the FHLBank's trading and held-to-maturity portfolios and to hedge embedded caps or floors in the FHLBank's advances. |
Derivatives, Methods of Accounting, Hedging Derivatives [Policy Text Block] | ' |
At the inception of every hedge transaction, the FHLBank documents all hedging relationships between derivatives designated as hedging instruments and the hedged items, its risk management objectives and strategies for undertaking various hedge transactions, and its method of assessing effectiveness. This process includes linking all derivatives that are designated as fair value or cash flow hedges to: (1) assets and/or liabilities on the Statements of Condition; (2) firm commitments; or (3) forecasted transactions. | |
Derivatives, Methods of Accounting, Hedge Effectiveness [Policy Text Block] | ' |
The FHLBank formally assesses (both at the hedge’s inception and at least quarterly on an ongoing basis) whether the derivatives that are used have been effective in offsetting changes in the fair value or cash flows of hedged items and whether those derivatives may be expected to remain effective in future periods. The FHLBank typically uses regression analyses or similar statistical analyses to assess the effectiveness of its hedging relationships. | |
Affordable_Housing_Program_Pol
Affordable Housing Program (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Affordable Housing Program [Abstract] | ' |
Description of Affordable Housing Program Assessment Accounting | 'The Bank Act, as amended by the Financial Institutions Reform, Recovery and Enforcement Act of 1989, requires each FHLBank to establish an AHP. As a part of its AHP, the FHLBank provides subsidies in the form of direct grants or below-market interest rate advances to members that use the funds to assist in the purchase, construction or rehabilitation of housing for very low-, low- and moderate-income households. By regulation, to fund the AHP, the 12 district FHLBanks as a group must annually set aside the greater of $100,000,000 or 10 percent of the current yearbs net earnings. For purposes of the AHP calculation, the term bnet earningsb is defined as income before interest expense related to mandatorily redeemable capital stock and the assessment for AHP. The FHLBank accrues this expense monthly based on its net earnings.The amount set aside for AHP is charged to expense and recognized as a liability. As subsidies are provided through the disbursement of grants or issuance of subsidized advances, the AHP liability is reduced accordingly. If the FHLBankbs net earnings before AHP would ever be zero or less, the amount of AHP liability would generally be equal to zero. However, if the result of the aggregate 10 percent calculation described above is less than the $100,000,000 minimum for all 12 FHLBanks, then the Bank Act requires the shortfall to be allocated among the FHLBanks based on the ratio of each FHLBankbs income for the previous year. If an FHLBank determines that its required AHP contributions are exacerbating any financial instability of that FHLBank, it may apply to the Finance Agency for a temporary suspension of its AHP contributions. The FHLBank has never applied to the Finance Agency for a temporary suspension of its AHP contributions. |
Fair_Values_Policies
Fair Values (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Fair Values [Abstract] | ' |
Fair Value Transfer, Policy [Policy Text Block] | ' |
The FHLBank 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. These reclassifications, if any, are reported as transfers in/out as of the beginning of the quarter in which the changes occur. | |
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Investment Securities [Abstract] | ' | |||||||||||||||||||||
Summary Of Trading And Held-To-Maturity Securities | ' | |||||||||||||||||||||
Major Security Types: Trading and held-to-maturity securities as of December 31, 2013 are summarized in Table 4.1 (in thousands): | ||||||||||||||||||||||
Table 4.1 | ||||||||||||||||||||||
12/31/13 | ||||||||||||||||||||||
Trading | Held-to-maturity | |||||||||||||||||||||
Fair | Carrying | OTTI | Amortized | Gross | Gross | Fair | ||||||||||||||||
Value | Value | Recognized | Cost | Unrecognized | Unrecognized | Value | ||||||||||||||||
in OCI | Gains | Losses | ||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
Certificates of deposit | $ | 260,009 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||
U.S. Treasury obligations | 25,012 | - | - | - | - | - | - | |||||||||||||||
Government-sponsored enterprise obligations1,2 | 2,247,966 | - | - | - | - | - | - | |||||||||||||||
State or local housing agency obligations | - | 63,472 | - | 63,472 | 19 | 8,619 | 54,872 | |||||||||||||||
Non-mortgage-backed securities | 2,532,987 | 63,472 | - | 63,472 | 19 | 8,619 | 54,872 | |||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||
U.S. obligation residential3 | 1,090 | 68,977 | - | 68,977 | 217 | 14 | 69,180 | |||||||||||||||
Government-sponsored enterprise residential4 | 170,700 | 4,974,649 | - | 4,974,649 | 21,744 | 27,108 | 4,969,285 | |||||||||||||||
Private-label mortgage-backed securities: | ||||||||||||||||||||||
Residential loans | - | 315,333 | 15,825 | 331,158 | 2,304 | 14,361 | 319,101 | |||||||||||||||
Home equity loans | - | 1,228 | 178 | 1,406 | 1,361 | - | 2,767 | |||||||||||||||
Mortgage-backed securities | 171,790 | 5,360,187 | 16,003 | 5,376,190 | 25,626 | 41,483 | 5,360,333 | |||||||||||||||
TOTAL | $ | 2,704,777 | $ | 5,423,659 | $ | 16,003 | $ | 5,439,662 | $ | 25,645 | $ | 50,102 | $ | 5,415,205 | ||||||||
1Represents debentures issued by other FHLBanks, Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac), Federal Farm Credit Bank (Farm Credit), and Federal Agricultural Mortgage Corporation (Farmer Mac). GSE securities are not guaranteed by the U.S. government. Fannie Mae and Freddie Mac were placed into conservatorship by the Finance Agency on September 7, 2008 with the Finance Agency named as conservator. | ||||||||||||||||||||||
2See Note 20 for transactions with other FHLBanks. | ||||||||||||||||||||||
3Represents MBS issued by Government National Mortgage Association (Ginnie Mae), which are guaranteed by the U.S. government. | ||||||||||||||||||||||
4Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | ||||||||||||||||||||||
Trading and held-to-maturity securities as of December 31, 2012 are summarized in Table 4.2 (in thousands): | ||||||||||||||||||||||
Table 4.2 | ||||||||||||||||||||||
12/31/12 | ||||||||||||||||||||||
Trading | Held-to-maturity | |||||||||||||||||||||
Fair | Carrying | OTTI | Amortized | Gross | Gross | Fair | ||||||||||||||||
Value | Value | Recognized | Cost | Unrecognized | Unrecognized | Value | ||||||||||||||||
in OCI | Gains | Losses | ||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
Commercial paper | $ | 59,996 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||
Certificates of deposit | 325,006 | - | - | - | - | - | - | |||||||||||||||
Government-sponsored enterprise obligations1,2 | 2,126,327 | - | - | - | - | - | - | |||||||||||||||
State or local housing agency obligations | - | 69,442 | - | 69,442 | 170 | 8,686 | 60,926 | |||||||||||||||
Non-mortgage-backed securities | 2,511,329 | 69,442 | - | 69,442 | 170 | 8,686 | 60,926 | |||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||
U.S obligation residential3 | 1,277 | 85,484 | - | 85,484 | 650 | - | 86,134 | |||||||||||||||
Government-sponsored enterprise residential4 | 252,312 | 4,509,121 | - | 4,509,121 | 39,571 | 1,034 | 4,547,658 | |||||||||||||||
Private-label mortgage-backed securities: | ||||||||||||||||||||||
Residential loans | - | 494,631 | 20,649 | 515,280 | 5,433 | 25,522 | 495,191 | |||||||||||||||
Home equity loans | - | 1,072 | 197 | 1,269 | 1,155 | 3 | 2,421 | |||||||||||||||
Mortgage-backed securities | 253,589 | 5,090,308 | 20,846 | 5,111,154 | 46,809 | 26,559 | 5,131,404 | |||||||||||||||
TOTAL | $ | 2,764,918 | $ | 5,159,750 | $ | 20,846 | $ | 5,180,596 | $ | 46,979 | $ | 35,245 | $ | 5,192,330 | ||||||||
1Represents debentures issued by other FHLBanks, Fannie Mae, Freddie Mac, Farm Credit, and Farmer Mac. GSE securities are not guaranteed by the U.S. government. Fannie Mae and Freddie Mac were placed into conservatorship by the Finance Agency on September 7, 2008 with the Finance Agency named as conservator. | ||||||||||||||||||||||
2See Note 20 for transactions with other FHLBanks. | ||||||||||||||||||||||
3Represents MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | ||||||||||||||||||||||
4Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | ||||||||||||||||||||||
Held-To-Maturity Securities With Unrecognized Losses | ' | |||||||||||||||||||||
Table 4.3 summarizes (in thousands) the held-to-maturity securities with unrecognized losses as of December 31, 2013. The unrecognized losses are aggregated by major security type and length of time that individual securities have been in a continuous unrecognized loss position. | ||||||||||||||||||||||
Table 4.3 | ||||||||||||||||||||||
12/31/13 | ||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||
Fair | Unrecognized | Fair | Unrecognized | Fair | Unrecognized | |||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
State or local housing agency obligations | $ | 6,660 | $ | 367 | $ | 38,743 | $ | 8,252 | $ | 45,403 | $ | 8,619 | ||||||||||
Non-mortgage-backed securities | 6,660 | 367 | 38,743 | 8,252 | 45,403 | 8,619 | ||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||
U.S. obligation residential1 | 25,814 | 14 | - | - | 25,814 | 14 | ||||||||||||||||
Government-sponsored enterprise residential2 | 2,099,923 | 16,699 | 384,530 | 10,409 | 2,484,453 | 27,108 | ||||||||||||||||
Private-label mortgage-backed securities: | ||||||||||||||||||||||
Residential loans | 21,053 | 109 | 175,474 | 14,252 | 196,527 | 14,361 | ||||||||||||||||
Mortgage-backed securities | 2,146,790 | 16,822 | 560,004 | 24,661 | 2,706,794 | 41,483 | ||||||||||||||||
TOTAL TEMPORARILY IMPAIRED SECURITIES | $ | 2,153,450 | $ | 17,189 | $ | 598,747 | $ | 32,913 | $ | 2,752,197 | $ | 50,102 | ||||||||||
__________ | ||||||||||||||||||||||
1Represents MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | ||||||||||||||||||||||
2Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | ||||||||||||||||||||||
Table 4.4 summarizes (in thousands) the held-to-maturity securities with unrecognized losses as of December 31, 2012. The unrecognized losses are aggregated by major security type and length of time that individual securities have been in a continuous unrecognized loss position. | ||||||||||||||||||||||
Table 4.4 | ||||||||||||||||||||||
12/31/12 | ||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||
Fair | Unrecognized | Fair | Unrecognized | Fair | Unrecognized | |||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
State or local housing agency obligations | $ | - | $ | - | $ | 40,719 | $ | 8,686 | $ | 40,719 | $ | 8,686 | ||||||||||
Non-mortgage-backed securities | - | - | 40,719 | 8,686 | 40,719 | 8,686 | ||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||
Government-sponsored enterprise residential1 | 338,126 | 829 | 126,814 | 205 | 464,940 | 1,034 | ||||||||||||||||
Private-label mortgage-backed securities: | ||||||||||||||||||||||
Residential loans | 5,830 | 8 | 246,641 | 25,514 | 252,471 | 25,522 | ||||||||||||||||
Home equity loans | - | - | 53 | 3 | 53 | 3 | ||||||||||||||||
Mortgage-backed securities | 343,956 | 837 | 373,508 | 25,722 | 717,464 | 26,559 | ||||||||||||||||
TOTAL TEMPORARILY IMPAIRED SECURITIES | $ | 343,956 | $ | 837 | $ | 414,227 | $ | 34,408 | $ | 758,183 | $ | 35,245 | ||||||||||
__________ | ||||||||||||||||||||||
1Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | ||||||||||||||||||||||
Held-To-Maturity Securities Classified By Contractual Maturity Date | ' | |||||||||||||||||||||
Redemption Terms: The amortized cost, carrying value and fair values of held-to-maturity securities by contractual maturity as of December 31, 2013 and 2012 are shown in Table 4.5 (in thousands). Expected maturities of certain securities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. | ||||||||||||||||||||||
Table 4.5 | ||||||||||||||||||||||
12/31/13 | 12/31/12 | |||||||||||||||||||||
Amortized | Carrying | Fair | Amortized | Carrying | Fair | |||||||||||||||||
Cost | Value | Value | Cost | Value | Value | |||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
Due in one year or less | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Due after one year through five years | - | - | - | - | - | - | ||||||||||||||||
Due after five years through 10 years | 21,240 | 21,240 | 19,582 | 22,780 | 22,780 | 20,741 | ||||||||||||||||
Due after 10 years | 42,232 | 42,232 | 35,290 | 46,662 | 46,662 | 40,185 | ||||||||||||||||
Non-mortgage-backed securities | 63,472 | 63,472 | 54,872 | 69,442 | 69,442 | 60,926 | ||||||||||||||||
Mortgage-backed securities | 5,376,190 | 5,360,187 | 5,360,333 | 5,111,154 | 5,090,308 | 5,131,404 | ||||||||||||||||
TOTAL | $ | 5,439,662 | $ | 5,423,659 | $ | 5,415,205 | $ | 5,180,596 | $ | 5,159,750 | $ | 5,192,330 | ||||||||||
Summary Of Held-To-Maturity Securities At Amortized Cost By Interest Rate Payment Terms | ' | |||||||||||||||||||||
Interest Rate Payment Terms: Table 4.6 details interest rate payment terms for the amortized cost of held-to-maturity securities as of December 31, 2013 and 2012 (in thousands): | ||||||||||||||||||||||
Table 4.6 | ||||||||||||||||||||||
12/31/13 | 12/31/12 | |||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
Fixed rate | $ | 12,232 | $ | 16,662 | ||||||||||||||||||
Variable rate | 51,240 | 52,780 | ||||||||||||||||||||
Non-mortgage-backed securities | 63,472 | 69,442 | ||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||
Pass-through securities: | ||||||||||||||||||||||
Fixed rate | 78 | 170 | ||||||||||||||||||||
Variable rate | 1,298,146 | 595,078 | ||||||||||||||||||||
Collateralized mortgage obligations: | ||||||||||||||||||||||
Fixed rate | 541,126 | 687,770 | ||||||||||||||||||||
Variable rate | 3,536,840 | 3,828,136 | ||||||||||||||||||||
Mortgage-backed securities | 5,376,190 | 5,111,154 | ||||||||||||||||||||
TOTAL | $ | 5,439,662 | $ | 5,180,596 | ||||||||||||||||||
Summary Of Net Gains (Losses) On Trading Securities | ' | |||||||||||||||||||||
Gains and Losses: Net gains (losses) on trading securities during the years ended December 31, 2013, 2012, and 2011 are shown in Table 4.7 (in thousands): | ||||||||||||||||||||||
Table 4.7 | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
Net gains (losses) on trading securities held as of December 31, 2013 | $ | -50,468 | $ | -16,651 | $ | 37,768 | ||||||||||||||||
Net gains (losses) on trading securities sold or matured prior to December 31, 2013 | -517 | -11,397 | -16,996 | |||||||||||||||||||
NET GAIN (LOSS) ON TRADING SECURITIES | $ | -50,985 | $ | -28,048 | $ | 20,772 | ||||||||||||||||
Schedule Of Projected Annualized Home Price Recovery Rates | ' | |||||||||||||||||||||
Table 4.8 | ||||||||||||||||||||||
Recovery Range of | ||||||||||||||||||||||
Annualized Rates | ||||||||||||||||||||||
Months | Low | High | ||||||||||||||||||||
1 – 6 | - | % | 3.0 | % | ||||||||||||||||||
12-Jul | 1.0 | 4.0 | ||||||||||||||||||||
13 - 18 | 2.0 | 4.0 | ||||||||||||||||||||
19 - 30 | 2.0 | 5.0 | ||||||||||||||||||||
31 - 54 | 2.0 | 6.0 | ||||||||||||||||||||
Thereafter | 2.3 | 5.6 | ||||||||||||||||||||
Schedule Of Significant Inputs In Measuring Other Than Temporary Impairments Recognized In Earnings | ' | |||||||||||||||||||||
Table 4.9 | ||||||||||||||||||||||
Private-label residential MBS | ||||||||||||||||||||||
Significant Inputs | ||||||||||||||||||||||
Year of | Prepayment Rates | Default Rates | Loss Severities | Current Credit Enhancements | ||||||||||||||||||
Securitization | ||||||||||||||||||||||
Prime: | ||||||||||||||||||||||
2004 and prior | 10.9 | % | 8.3 | % | 23.6 | % | 9.3 | % | ||||||||||||||
2005 | 10.6 | 11.3 | 33.3 | 3.5 | ||||||||||||||||||
2006 | 8.2 | 12.1 | 36.9 | 1.1 | ||||||||||||||||||
Total Prime | 10.1 | 10.1 | 29.6 | 5.7 | ||||||||||||||||||
Alt-A: | ||||||||||||||||||||||
2004 and prior | 9.9 | 16.2 | 37.5 | 10.6 | ||||||||||||||||||
2005 | 9.4 | 18.7 | 38.7 | 4.8 | ||||||||||||||||||
Total Alt-A | 9.6 | 17.6 | 38.2 | 7.3 | ||||||||||||||||||
TOTAL | 9.7 | % | 15.7 | % | 36.0 | % | 6.9 | % | ||||||||||||||
Home Equity Loan ABS | ||||||||||||||||||||||
Significant Inputs | ||||||||||||||||||||||
Year of | Prepayment Rates | Default Rates | Loss Severities | Current Credit Enhancements | ||||||||||||||||||
Securitization | ||||||||||||||||||||||
Subprime: | ||||||||||||||||||||||
2004 and prior | 3.1 | % | 7.3 | % | 93.3 | % | 4.3 | % | ||||||||||||||
Schedule Of Other Than Temporarily Impaired Charges Incurred During Life Of Securities | ' | |||||||||||||||||||||
For the 27 outstanding private-label securities with OTTI during the lives of the securities, the FHLBank’s reported balances as of December 31, 2013 are presented in Table 4.10 (in thousands): | ||||||||||||||||||||||
Table 4.10 | ||||||||||||||||||||||
12/31/13 | ||||||||||||||||||||||
Unpaid Principal Balance | Amortized Cost | Carrying Value | Fair Value | |||||||||||||||||||
Private-label residential MBS: | ||||||||||||||||||||||
Prime | $ | 17,370 | $ | 16,445 | $ | 15,072 | $ | 16,406 | ||||||||||||||
Alt-A | 71,464 | 64,976 | 50,524 | 60,193 | ||||||||||||||||||
Total private-label residential MBS | 88,834 | 81,421 | 65,596 | 76,599 | ||||||||||||||||||
Home equity loans: | ||||||||||||||||||||||
Subprime | 3,348 | 1,406 | 1,228 | 2,767 | ||||||||||||||||||
TOTAL | $ | 92,182 | $ | 82,827 | $ | 66,824 | $ | 79,366 | ||||||||||||||
Roll-Forward Of OTTI Activity | ' | |||||||||||||||||||||
Table 4.11 presents a roll-forward of OTTI activity for the years ended December 31, 2013, 2012, and 2011 related to credit losses recognized in earnings (in thousands): | ||||||||||||||||||||||
Table 4.11 | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
Balance, beginning of period | $ | 11,291 | $ | 10,342 | $ | 5,938 | ||||||||||||||||
Additional charge on securities for which OTTI was not previously recognized1 | - | 271 | 1,219 | |||||||||||||||||||
Additional charge on securities for which OTTI was previously recognized1 | 530 | 1,389 | 3,492 | |||||||||||||||||||
Amortization of credit component of OTTI2 | -1,904 | -711 | -307 | |||||||||||||||||||
BALANCE, END OF PERIOD | $ | 9,917 | $ | 11,291 | $ | 10,342 | ||||||||||||||||
1For the years ended December 31, 2013, 2012, and 2011, securities previously impaired represent all securities that were impaired prior to January 1, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||
2The FHLBank amortizes the credit component based on estimated cash flows prospectively up to the amount of expected principal to be recovered. The discounted cash flows will move from the discounted loss value to the ultimate principal to be written off at the projected date of loss. If the expected cash flows improve, the amount of expected loss decreases which causes a corresponding decrease in the calculated amortization. Based on the level of improvement in the cash flows, the amortization could become a positive adjustment to income. | ||||||||||||||||||||||
Advances_Tables
Advances (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Advances [Abstract] | ' | ||||||||||||
Schedule Of Federal Home Loan Bank Advances By Year Of Contractual Maturity | ' | ||||||||||||
Table 5.1 | |||||||||||||
12/31/13 | 12/31/12 | ||||||||||||
Year of Contractual Maturity | Amount | Weighted Average Interest Rate | Amount | Weighted Average Interest Rate | |||||||||
Due in one year or less | $ | 5,431,364 | 0.77 | % | $ | 3,433,058 | 1.11 | % | |||||
Due after one year through two years | 1,643,200 | 1.77 | 1,454,725 | 2.39 | |||||||||
Due after two years through three years | 1,650,222 | 1.98 | 1,691,471 | 1.88 | |||||||||
Due after three years through four years | 2,353,661 | 2.59 | 1,757,905 | 1.99 | |||||||||
Due after four years through five years | 1,302,199 | 2.42 | 2,529,511 | 2.84 | |||||||||
Thereafter | 4,812,973 | 1.09 | 5,241,927 | 1.36 | |||||||||
Total par value | 17,193,619 | 1.45 | % | 16,108,597 | 1.76 | % | |||||||
Discounts | -36,782 | -29,767 | |||||||||||
Hedging adjustments1 | 268,650 | 494,518 | |||||||||||
TOTAL | $ | 17,425,487 | $ | 16,573,348 | |||||||||
1 | See Note 8 for a discussion of: (1) the FHLBank’s objectives for using derivatives; (2) the types of assets and liabilities hedged; and (3) the accounting for derivatives and the related assets and liabilities hedged. | ||||||||||||
Schedule Of Federal Home Loan Bank Advances By Contractual Maturity Or Next Call Date And By Contractual Maturity Or Next Conversion Date | ' | ||||||||||||
Table 5.2 | |||||||||||||
Year of Contractual Maturity | Year of Contractual Maturity | ||||||||||||
or Next Call Date | or Next Conversion Date | ||||||||||||
Redemption Term | 12/31/13 | 12/31/12 | 12/31/13 | 12/31/12 | |||||||||
Due in one year or less | $ | 10,172,524 | $ | 8,483,653 | $ | 7,038,106 | $ | 5,430,875 | |||||
Due after one year through two years | 1,392,527 | 1,335,481 | 1,555,100 | 1,412,850 | |||||||||
Due after two years through three years | 1,175,623 | 1,346,362 | 1,528,722 | 1,593,371 | |||||||||
Due after three years through four years | 1,856,012 | 1,094,410 | 1,381,719 | 1,606,405 | |||||||||
Due after four years through five years | 1,062,253 | 2,033,422 | 979,999 | 1,534,569 | |||||||||
Thereafter | 1,534,680 | 1,815,269 | 4,709,973 | 4,530,527 | |||||||||
TOTAL PAR VALUE | $ | 17,193,619 | $ | 16,108,597 | $ | 17,193,619 | $ | 16,108,597 | |||||
Schedule Of Federal Home Loan Bank Advances By Interest Rate Payment Terms | ' | ||||||||||||
Table 5.3 | |||||||||||||
12/31/13 | 12/31/12 | ||||||||||||
Fixed rate: | |||||||||||||
Due in one year or less | $ | 1,733,559 | $ | 1,301,041 | |||||||||
Due after one year | 6,923,555 | 7,495,446 | |||||||||||
Total fixed rate | 8,657,114 | 8,796,487 | |||||||||||
Variable rate: | |||||||||||||
Due in one year or less | 3,697,805 | 2,132,017 | |||||||||||
Due after one year | 4,838,700 | 5,180,093 | |||||||||||
Total variable rate | 8,536,505 | 7,312,110 | |||||||||||
TOTAL PAR VALUE | $ | 17,193,619 | $ | 16,108,597 | |||||||||
Mortgage_Loans_Tables
Mortgage Loans (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Mortgage Loans [Abstract] | ' | ||||||
Schedule Of Mortgage Loans Sold | ' | ||||||
Table 6.1 | |||||||
2011 | |||||||
Net proceeds | $ | 111,444 | |||||
Cost basis | -107,019 | ||||||
NET REALIZED GAIN (LOSS) ON SALE OF MORTGAGE LOANS HELD FOR SALE | $ | 4,425 | |||||
Schedule Of Mortgage Loans Held For Portfolio | ' | ||||||
Table 6.2 | |||||||
12/31/13 | 12/31/12 | ||||||
Real estate: | |||||||
Fixed rate, medium-term1, single-family mortgages | $ | 1,611,289 | $ | 1,711,275 | |||
Fixed rate, long-term, single-family mortgages | 4,245,351 | 4,126,471 | |||||
Total unpaid principal balance | 5,856,640 | 5,837,746 | |||||
Premiums | 95,755 | 98,887 | |||||
Discounts | -3,659 | -4,483 | |||||
Deferred loan costs, net | 1,087 | 1,549 | |||||
Other deferred fees | -212 | -312 | |||||
Hedging adjustments2 | 6,617 | 12,546 | |||||
Total before Allowance for Credit Losses on Mortgage Loans | 5,956,228 | 5,945,933 | |||||
Allowance for Credit Losses on Mortgage Loans | -6,748 | -5,416 | |||||
MORTGAGE LOANS HELD FOR PORTFOLIO, NET | $ | 5,949,480 | $ | 5,940,517 | |||
1 | Medium-term defined as a term of 15 years or less at origination. | ||||||
2 | See Note 8 for a discussion of: (1) the FHLBank’s objectives for using derivatives; (2) the types of assets and liabilities hedged; and (3) the accounting for derivatives and the related assets and liabilities hedged. | ||||||
Schedule Of Mortgage Loans Held For Portfolio By Collateral Or Guarantee Type | ' | ||||||
Table 6.3 | |||||||
12/31/13 | 12/31/12 | ||||||
Conventional loans | $ | 5,212,048 | $ | 5,152,461 | |||
Government-guaranteed or insured loans | 644,592 | 685,285 | |||||
TOTAL UNPAID PRINCIPAL BALANCE | $ | 5,856,640 | $ | 5,837,746 | |||
Allowance_For_Credit_Losses_Ta
Allowance For Credit Losses (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Allowance For Credit Losses [Abstract] | ' | |||||||||||||||
Schedule Of Net Credit Enhancement Fees Paid To Participating Members | ' | |||||||||||||||
Table 7.1 | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
CE fees paid to PFIs | $ | 4,861 | $ | 4,396 | $ | 3,744 | ||||||||||
Performance-based CE fees recovered from PFIs | -157 | -179 | -199 | |||||||||||||
NET CE FEES PAID | $ | 4,704 | $ | 4,217 | $ | 3,545 | ||||||||||
Allowance For Credit Losses On Financing Receivables | ' | |||||||||||||||
Table 7.2 | ||||||||||||||||
12/31/13 | ||||||||||||||||
Conventional | Government | Credit | Direct Financing | Total | ||||||||||||
Loans | Loans | Products1 | Lease Receivable | |||||||||||||
Allowance for credit losses: | ||||||||||||||||
Balance, beginning of period | $ | 5,416 | $ | - | $ | - | $ | - | $ | 5,416 | ||||||
Charge-offs | -594 | - | - | - | -594 | |||||||||||
Provision for credit losses | 1,926 | - | - | - | 1,926 | |||||||||||
BALANCE, END OF PERIOD | $ | 6,748 | $ | - | $ | - | $ | - | $ | 6,748 | ||||||
Allowance for credit losses, end of period: | ||||||||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||
Collectively evaluated for impairment | $ | 6,748 | $ | - | $ | - | $ | - | $ | 6,748 | ||||||
Recorded investment2, end of period: | ||||||||||||||||
Individually evaluated for impairment3 | $ | - | $ | - | $ | 17,446,437 | $ | 23,540 | $ | 17,469,977 | ||||||
Collectively evaluated for impairment | $ | 5,323,049 | $ | 662,376 | $ | - | $ | - | $ | 5,985,425 | ||||||
__________ | ||||||||||||||||
1 | The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. | |||||||||||||||
2 | The recorded investment in a financing receivable is the UPB, adjusted for accrued interest, net deferred loan fees or costs, unamortized premiums or discounts, fair value hedging adjustments and direct write-downs. The recorded investment is not net of any valuation allowance. | |||||||||||||||
3 | No financing receivables individually evaluated for impairment were determined to be impaired. | |||||||||||||||
Table 7.3 presents a roll-forward of the allowance for credit losses for the year ended December 31, 2012 as well as the method used to evaluate impairment relating to all portfolio segments regardless of whether or not an estimated credit loss has been recorded as of December 31, 2012 (in thousands): | ||||||||||||||||
Table 7.3 | ||||||||||||||||
12/31/12 | ||||||||||||||||
Conventional Loans | Government Loans | Credit Products1 | Direct Financing Lease Receivable | Total | ||||||||||||
Allowance for credit losses: | ||||||||||||||||
Balance, beginning of period | $ | 3,473 | $ | - | $ | - | $ | - | $ | 3,473 | ||||||
Charge-offs | -553 | - | - | - | -553 | |||||||||||
Provision for credit losses | 2,496 | - | - | - | 2,496 | |||||||||||
Balance, end of period | $ | 5,416 | $ | - | $ | - | $ | - | $ | 5,416 | ||||||
Allowance for credit losses, end of period: | ||||||||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||
Collectively evaluated for impairment | $ | 5,416 | $ | - | $ | - | $ | - | $ | 5,416 | ||||||
Recorded investment2, end of period: | ||||||||||||||||
Individually evaluated for impairment3 | $ | - | $ | - | $ | 16,597,209 | $ | 25,527 | $ | 16,622,736 | ||||||
Collectively evaluated for impairment | $ | 5,270,183 | $ | 705,209 | $ | - | $ | - | $ | 5,975,392 | ||||||
___________ | ||||||||||||||||
1 | The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. | |||||||||||||||
2 | The recorded investment in a financing receivable is the UPB, adjusted for accrued interest, net deferred loan fees or costs, unamortized premiums or discounts, fair value hedging adjustments and direct write-downs. The recorded investment is not net of any valuation allowance. | |||||||||||||||
3 | No financing receivables individually evaluated for impairment were determined to be impaired. | |||||||||||||||
Summary Of Delinquency Aging And Key Quality Indicators Of Federal Home Loan Bank's Portfolio Segments | ' | |||||||||||||||
Table 7.4 summarizes the delinquency aging and key credit quality indicators for all of the FHLBank’s portfolio segments as of December 31, 2013 (dollar amounts in thousands): | ||||||||||||||||
Table 7.4 | ||||||||||||||||
12/31/13 | ||||||||||||||||
Conventional Loans | Government Loans | Credit Products1 | Direct Financing Lease Receivable | Total | ||||||||||||
Recorded investment2: | ||||||||||||||||
Past due 30-59 days delinquent | $ | 31,653 | $ | 21,605 | $ | - | $ | - | $ | 53,258 | ||||||
Past due 60-89 days delinquent | 7,873 | 5,672 | - | - | 13,545 | |||||||||||
Past due 90 days or more delinquent | 18,040 | 8,720 | - | - | 26,760 | |||||||||||
Total past due | 57,566 | 35,997 | - | - | 93,563 | |||||||||||
Total current loans | 5,265,483 | 626,379 | 17,446,437 | 23,540 | 23,361,839 | |||||||||||
Total recorded investment | $ | 5,323,049 | $ | 662,376 | $ | 17,446,437 | $ | 23,540 | $ | 23,455,402 | ||||||
Other delinquency statistics: | ||||||||||||||||
In process of foreclosure, included above3 | $ | 7,665 | $ | 2,968 | $ | - | $ | - | $ | 10,633 | ||||||
Serious delinquency rate4 | 0.4 | % | 1.3 | % | - | % | - | % | 0.1 | % | ||||||
Past due 90 days or more and still accruing interest | $ | - | $ | 8,720 | $ | - | $ | - | $ | 8,720 | ||||||
Loans on non-accrual status5 | $ | 21,294 | $ | - | $ | - | $ | - | $ | 21,294 | ||||||
__________ | ||||||||||||||||
1 | The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. | |||||||||||||||
2 | The recorded investment in a financing receivable is the UPB, adjusted for accrued interest, net deferred loan fees or costs, unamortized premiums or discounts, fair value hedging adjustments and direct write-downs. The recorded investment is not net of any valuation allowance. | |||||||||||||||
3 | Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu has been reported. Loans in process of foreclosure are included in past due or current loans dependent on their delinquency status. | |||||||||||||||
4 | Loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the total recorded investment for the portfolio class. | |||||||||||||||
5 | Loans on non-accrual status include $1,515,000 of troubled debt restructurings. Troubled debt restructurings are restructurings in which the FHLBank, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. | |||||||||||||||
Table 7.5 summarizes the key credit quality indicators for the FHLBank’s mortgage loans as of December 31, 2012 (dollar amounts in thousands): | ||||||||||||||||
Table 7.5 | ||||||||||||||||
12/31/12 | ||||||||||||||||
Conventional Loans | Government Loans | Credit Products1 | Direct Financing Lease Receivable | Total | ||||||||||||
Recorded investment2: | ||||||||||||||||
Past due 30-59 days delinquent | $ | 24,954 | $ | 16,990 | $ | - | $ | - | $ | 41,944 | ||||||
Past due 60-89 days delinquent | 8,016 | 5,787 | - | - | 13,803 | |||||||||||
Past due 90 days or more delinquent | 21,576 | 8,177 | - | - | 29,753 | |||||||||||
Total past due | 54,546 | 30,954 | - | - | 85,500 | |||||||||||
Total current loans | 5,215,637 | 674,255 | 16,597,209 | 25,527 | 22,512,628 | |||||||||||
Total recorded investment | $ | 5,270,183 | $ | 705,209 | $ | 16,597,209 | $ | 25,527 | $ | 22,598,128 | ||||||
Other delinquency statistics: | ||||||||||||||||
In process of foreclosure, included above3 | $ | 11,593 | $ | 3,085 | $ | - | $ | - | $ | 14,678 | ||||||
Serious delinquency rate4 | 0.4 | % | 1.2 | % | - | % | - | % | 0.1 | % | ||||||
Past due 90 days or more and still accruing interest | $ | - | $ | 8,177 | $ | - | $ | - | $ | 8,177 | ||||||
Loans on non-accrual status5 | $ | 25,300 | $ | - | $ | - | $ | - | $ | 25,300 | ||||||
__________ | ||||||||||||||||
1 | The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. | |||||||||||||||
2 | The recorded investment in a financing receivable is the UPB, adjusted for accrued interest, net deferred loan fees or costs, unamortized premiums or discounts, fair value hedging adjustments and direct write-downs. The recorded investment is not net of any valuation allowance. | |||||||||||||||
3 | Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu has been reported. Loans in process of foreclosure are included in past due or current loans dependent on their delinquency status. | |||||||||||||||
4 | Loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the total recorded investment for the portfolio class. | |||||||||||||||
5 | Loans on non-accrual status include $1,286,000 of troubled debt restructurings. Troubled debt restructurings are restructurings in which the FHLBank, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. | |||||||||||||||
Derivatives_And_Hedging_Activi2
Derivatives And Hedging Activities (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Derivatives And Hedging Activities [Abstract] | ' | ||||||||||||||||||
Schedule Of Derivative Instruments | ' | ||||||||||||||||||
Table 8.1 represents outstanding notional balances and fair values (includes net accrued interest receivable or payable on the derivatives) of the derivatives outstanding by type of derivative and by hedge designation as of December 31, 2013 and 2012 (in thousands): | |||||||||||||||||||
Table 8.1 | |||||||||||||||||||
12/31/13 | 12/31/12 | ||||||||||||||||||
Notional Amount | Derivative Assets | Derivative Liabilities | Notional Amount | Derivative Assets | Derivative Liabilities | ||||||||||||||
Fair value hedges: | |||||||||||||||||||
Interest rate swaps | $ | 10,285,231 | $ | 127,059 | $ | 347,123 | $ | 12,360,157 | $ | 218,909 | $ | 493,515 | |||||||
Interest rate caps/floors | 247,000 | - | 2,648 | 247,000 | - | 4,429 | |||||||||||||
Total fair value hedges | 10,532,231 | 127,059 | 349,771 | 12,607,157 | 218,909 | 497,944 | |||||||||||||
Economic hedges: | |||||||||||||||||||
Interest rate swaps | 3,691,820 | 4,260 | 120,166 | 5,806,320 | 7,607 | 166,890 | |||||||||||||
Interest rate caps/floors | 4,627,800 | 41,463 | 103 | 5,872,800 | 29,761 | 62 | |||||||||||||
Mortgage delivery commitments | 65,620 | 24 | 289 | 106,355 | 102 | 96 | |||||||||||||
Total economic hedges | 8,385,240 | 45,747 | 120,558 | 11,785,475 | 37,470 | 167,048 | |||||||||||||
TOTAL | $ | 18,917,471 | 172,806 | 470,329 | $ | 24,392,632 | 256,379 | 664,992 | |||||||||||
Netting adjustments1 | -161,161 | -161,161 | -204,209 | -204,209 | |||||||||||||||
Cash collateral2 | 16,312 | -200,815 | -27,004 | -337,369 | |||||||||||||||
DERIVATIVE ASSETS AND LIABILITIES | $ | 27,957 | $ | 108,353 | $ | 25,166 | $ | 123,414 | |||||||||||
1Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions and also cash collateral, including initial or variation margin, and related accrued interest held or placed with the same clearing agent and/or derivative counterparty. | |||||||||||||||||||
2Exposure can change on a daily basis; and thus, there is often a short lag time between the date the exposure is identified, collateral is requested and collateral is actually received. Likewise, there is a lag time for excess collateral to be returned. | |||||||||||||||||||
Schedule Of Derivative Instruments, Gain (Loss) In Statement Of Financial Performance | ' | ||||||||||||||||||
Table 8.2 | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Derivatives and hedge items in fair value hedging relationships: | |||||||||||||||||||
Interest rate swaps | $ | -2,334 | $ | 2,792 | $ | 2,122 | |||||||||||||
Interest rate caps/floors | - | - | -58 | ||||||||||||||||
Total net gain (loss) related to fair value hedge ineffectiveness | -2,334 | 2,792 | 2,064 | ||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||
Economic hedges: | |||||||||||||||||||
Interest rate swaps | 43,347 | 27,428 | -9,870 | ||||||||||||||||
Interest rate caps/floors | 11,682 | -24,032 | -70,577 | ||||||||||||||||
Net interest settlements | -38,519 | -35,174 | -40,489 | ||||||||||||||||
Mortgage delivery commitments | -4,052 | 7,509 | 10,146 | ||||||||||||||||
Intermediary transactions: | |||||||||||||||||||
Interest rate swaps | -17 | -1 | -29 | ||||||||||||||||
Interest rate caps/floors | - | - | 12 | ||||||||||||||||
Total net gain (loss) related to derivatives not designated as hedging instruments | 12,441 | -24,270 | -110,807 | ||||||||||||||||
NET GAIN (LOSS) ON DERIVATIVES AND HEDGING ACTIVITIES | $ | 10,107 | $ | -21,478 | $ | -108,743 | |||||||||||||
Summary Of Derivatives And Related Hedged Items In Fair Value Hedging Relationships | ' | ||||||||||||||||||
Table 8.3 | |||||||||||||||||||
2013 | |||||||||||||||||||
Gain (Loss) on Derivatives | Gain (Loss) on Hedged Items | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income1 | ||||||||||||||||
Advances | $ | 186,662 | $ | -183,314 | $ | 3,348 | $ | -158,751 | |||||||||||
Consolidated obligation bonds | -158,941 | 153,259 | -5,682 | 101,717 | |||||||||||||||
TOTAL | $ | 27,721 | $ | -30,055 | $ | -2,334 | $ | -57,034 | |||||||||||
2012 | |||||||||||||||||||
Gain (Loss) on Derivatives | Gain (Loss) on Hedged Items | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income1 | ||||||||||||||||
Advances | $ | 44,010 | $ | -45,836 | $ | -1,826 | $ | -186,360 | |||||||||||
Consolidated obligation bonds | -63,877 | 68,515 | 4,638 | 142,355 | |||||||||||||||
Consolidated obligation discount notes | 114 | -134 | -20 | 12 | |||||||||||||||
TOTAL | $ | -19,753 | $ | 22,545 | $ | 2,792 | $ | -43,993 | |||||||||||
2011 | |||||||||||||||||||
Gain (Loss) on Derivatives | Gain (Loss) on Hedged Items | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income1 | ||||||||||||||||
Advances | $ | -113,640 | $ | 111,609 | $ | -2,031 | $ | -234,817 | |||||||||||
Consolidated obligation bonds | 21,401 | -16,970 | 4,431 | 212,243 | |||||||||||||||
Consolidated obligation discount notes | -1,120 | 784 | -336 | 1,254 | |||||||||||||||
TOTAL | $ | -93,359 | $ | 95,423 | $ | 2,064 | $ | -21,320 | |||||||||||
1The differentials between accruals of interest receivables and payables on derivatives designated as fair value hedges as well as the amortization/accretion of hedging activities are recognized as adjustments to the interest income or expense of the designated underlying hedged item. | |||||||||||||||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Deposits [Abstract] | ' | ||||||
Schedule Of Deposit Liabilities By Component | ' | ||||||
Table 9.1 | |||||||
12/31/13 | 12/31/12 | ||||||
Interest-bearing: | |||||||
Demand | $ | 214,645 | $ | 253,527 | |||
Overnight | 686,100 | 824,200 | |||||
Term | 23,800 | 39,900 | |||||
Total interest-bearing | 924,545 | 1,117,627 | |||||
Non-interest-bearing: | |||||||
Demand | 1,357 | 360 | |||||
Other | 35,986 | 63,970 | |||||
Total non-interest-bearing | 37,343 | 64,330 | |||||
TOTAL DEPOSITS | $ | 961,888 | $ | 1,181,957 | |||
Consolidated_Obligations_Table
Consolidated Obligations (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Federal Home Loan Bank, Consolidated Obligations [Abstract] | ' | ||||||||||||
Schedule Of Maturities Of Consolidated Obligations | ' | ||||||||||||
Table 10.1 | |||||||||||||
12/31/13 | 12/31/12 | ||||||||||||
Year of Contractual Maturity | Amount | Weighted Average Interest Rate | Amount | Weighted Average Interest Rate | |||||||||
Due in one year or less | $ | 6,177,700 | 0.74 | % | $ | 6,989,000 | 1.14 | % | |||||
Due after one year through two years | 3,182,300 | 0.69 | 3,774,700 | 1.18 | |||||||||
Due after two years through three years | 1,635,750 | 1.70 | 1,553,000 | 1.32 | |||||||||
Due after three years through four years | 1,397,935 | 2.56 | 1,244,650 | 2.21 | |||||||||
Due after four years through five years | 1,333,940 | 1.79 | 1,476,000 | 2.74 | |||||||||
Thereafter | 6,312,600 | 2.28 | 6,749,900 | 2.45 | |||||||||
Total par value | 20,040,225 | 1.49 | % | 21,787,250 | 1.74 | % | |||||||
Premium | 36,613 | 54,585 | |||||||||||
Discounts | -4,605 | -5,479 | |||||||||||
Hedging adjustments1 | -15,269 | 137,546 | |||||||||||
TOTAL | $ | 20,056,964 | $ | 21,973,902 | |||||||||
1See Note 8 for a discussion of: (1) the FHLBank’s objectives for using derivatives; (2) the types of assets and liabilities hedged; and (3) the accounting for derivatives and the related assets and liabilities hedged. | |||||||||||||
Schedule Of Consolidated Obligations, By Maturity Or Next Call Date | ' | ||||||||||||
Table 10.2 | |||||||||||||
Year of Maturity or Next Call Date | 12/31/13 | 12/31/12 | |||||||||||
Due in one year or less | $ | 14,189,700 | $ | 14,900,000 | |||||||||
Due after one year through two years | 3,248,300 | 3,847,700 | |||||||||||
Due after two years through three years | 1,126,750 | 1,024,000 | |||||||||||
Due after three years through four years | 761,935 | 809,650 | |||||||||||
Due after four years through five years | 378,940 | 688,000 | |||||||||||
Thereafter | 334,600 | 517,900 | |||||||||||
TOTAL PAR VALUE | $ | 20,040,225 | $ | 21,787,250 | |||||||||
Schedule Of Consolidated Obligations, By Interest Rate Terms | ' | ||||||||||||
Table 10.3 | |||||||||||||
12/31/13 | 12/31/12 | ||||||||||||
Fixed rate | $ | 11,705,225 | $ | 13,507,250 | |||||||||
Simple variable rate | 5,895,000 | 5,860,000 | |||||||||||
Step up/step down | 2,220,000 | 2,270,000 | |||||||||||
Range | 90,000 | - | |||||||||||
Variable to fixed rate | 85,000 | 85,000 | |||||||||||
Fixed to variable rate | 45,000 | 65,000 | |||||||||||
TOTAL PAR VALUE | $ | 20,040,225 | $ | 21,787,250 | |||||||||
Schedule Of Consolidated Obligations, Current Portion | ' | ||||||||||||
Table 10.4 | |||||||||||||
Carrying Value | Par Value | Weighted Average | |||||||||||
Interest Rate1 | |||||||||||||
31-Dec-13 | $ | 10,889,565 | $ | 10,890,528 | 0.08 | % | |||||||
31-Dec-12 | $ | 8,669,059 | $ | 8,670,442 | 0.12 | % | |||||||
1Represents yield to maturity excluding concession fees. | |||||||||||||
Affordable_Housing_Program_Tab
Affordable Housing Program (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Affordable Housing Program [Abstract] | ' | |||||||||
Schedule Of Change In AHP Liability | ' | |||||||||
Table 11.1 details the change in the AHP liability for the years ended December 31, 2013, 2012, and 2011 (in thousands): | ||||||||||
Table 11.1 | ||||||||||
2013 | 2012 | 2011 | ||||||||
Appropriated and reserved AHP funds as of the beginning of the period | $ | 31,198 | $ | 31,392 | $ | 39,226 | ||||
AHP set aside based on current year income | 13,229 | 12,261 | 8,611 | |||||||
Direct grants disbursed | -10,245 | -13,210 | -16,984 | |||||||
Recaptured funds1 | 1,082 | 755 | 539 | |||||||
APPROPRIATED AND RESERVED AHP FUNDS AS OF THE END OF THE PERIOD | $ | 35,264 | $ | 31,198 | $ | 31,392 | ||||
1Recaptured funds are direct grants returned to the FHLBank in those instances where the commitments associated with the approved use of funds are not met and repayment to the FHLBank is required by regulation. Recaptured funds are returned as a result of: (1) AHP-assisted homeowner’s transfer or sale of property within the five-year retention period that the assisted homeowner is required to occupy the property; (2) homeowner’s failure to acquire sufficient loan funding (funds previously approved and disbursed cannot be used); (3) over-subsidized projects; or (4) unused grants. | ||||||||||
Assets_and_Liabilities_Subject1
Assets and Liabilities Subject to Offsetting (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Offsetting [Abstract] | ' | |||||||||||||||
Schedule of Offsetting Assets | ' | |||||||||||||||
Table 13.1 | ||||||||||||||||
12/31/13 | ||||||||||||||||
Description | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Statement of Condition | Net Amounts of Assets Presented in the Statement of Condition | Gross Amounts Not Offset in the Statement of Condition1 | Net Amount | |||||||||||
Derivative assets: | ||||||||||||||||
Bilateral derivatives | $ | 165,894 | $ | -150,968 | $ | 14,926 | $ | -24 | $ | 14,902 | ||||||
Cleared derivatives | 6,912 | 6,119 | 13,031 | - | 13,031 | |||||||||||
TOTAL | $ | 172,806 | $ | -144,849 | $ | 27,957 | $ | -24 | $ | 27,933 | ||||||
1Represents noncash collateral received on financial instruments that: (1) do not qualify for netting on the Statement of Condition; or (2) are not subject to an enforceable netting agreement (e.g., mortgage delivery commitments). | ||||||||||||||||
Table 13.2 | ||||||||||||||||
12/31/12 | ||||||||||||||||
Description | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Statement of Condition | Net Amounts of Assets Presented in the Statement of Condition | Gross Amounts Not Offset in the Statement of Condition1 | Net Amount | |||||||||||
Bilateral derivatives | $ | 256,379 | $ | -231,213 | $ | 25,166 | $ | -278 | $ | 24,888 | ||||||
Securities purchased under agreements to resell | 1,999,288 | - | 1,999,288 | -1,999,288 | - | |||||||||||
TOTAL | $ | 2,255,667 | $ | -231,213 | $ | 2,024,454 | $ | -1,999,566 | $ | 24,888 | ||||||
1Represents noncash collateral received on financial instruments that: (1) do not qualify for netting on the Statement of Condition; or (2) are not subject to an enforceable netting agreement (e.g., mortgage delivery commitments) | ||||||||||||||||
Schedule of Offsetting Liabilities | ' | |||||||||||||||
Table 13.3 | ||||||||||||||||
12/31/13 | ||||||||||||||||
Description | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Statement of Condition | Net Amounts of Liabilities Presented in the Statement of Condition | Gross Amounts Not Offset in the Statement of Condition1 | Net Amount | |||||||||||
Derivative liabilities | ||||||||||||||||
Bilateral derivatives | $ | 470,290 | $ | -361,937 | $ | 108,353 | $ | -392 | $ | 107,961 | ||||||
Cleared derivatives | 39 | -39 | - | - | - | |||||||||||
TOTAL | $ | 470,329 | $ | -361,976 | $ | 108,353 | $ | -392 | $ | 107,961 | ||||||
1Represents noncash collateral received on financial instruments that: (1) do not qualify for netting on the Statement of Condition; or (2) are not subject to an enforceable netting agreement (e.g., mortgage delivery commitments). | ||||||||||||||||
Table 13.4 | ||||||||||||||||
12/31/12 | ||||||||||||||||
Description | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Statement of Condition | Net Amounts of Liabilities Presented in the Statement of Condition | Gross Amounts Not Offset in the Statement of Condition1 | Net Amount | |||||||||||
Bilateral derivatives | $ | 664,992 | $ | -541,578 | $ | 123,414 | $ | -157 | $ | 123,257 | ||||||
1Represents noncash collateral received on financial instruments that: (1) do not qualify for netting on the Statement of Condition; or (2) are not subject to an enforceable netting agreement (e.g., mortgage delivery commitments). | ||||||||||||||||
Capital_Tables
Capital (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Capital [Abstract] | ' | ||||||||||||
Schedule Of Compliance With Regulatory Capital Requirements | ' | ||||||||||||
Table 14.1 | |||||||||||||
12/31/13 | 12/31/12 | ||||||||||||
Required | Actual | Required | Actual | ||||||||||
Regulatory capital requirements: | |||||||||||||
Risk-based capital | $ | 414,914 | $ | 1,389,646 | $ | 300,742 | $ | 1,340,740 | |||||
Total regulatory capital-to-asset ratio | 4.0 | % | 5.4 | % | 4.0 | % | 5.2 | % | |||||
Total regulatory capital | $ | 1,358,012 | $ | 1,824,345 | $ | 1,352,745 | $ | 1,751,403 | |||||
Leverage capital ratio | 5.0 | % | 7.4 | % | 5.0 | % | 7.2 | % | |||||
Leverage capital | $ | 1,697,515 | $ | 2,519,168 | $ | 1,690,931 | $ | 2,421,772 | |||||
Schedule Of Mandatorily Redeemable Capital Stock | ' | ||||||||||||
Table 14.2 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at beginning of period | $ | 5,665 | $ | 8,369 | $ | 19,550 | |||||||
Capital stock subject to mandatory redemption reclassified from equity during the period | 356,841 | 381,687 | 301,438 | ||||||||||
Capital stock previously subject to mandatory redemption reclassified to equity | - | -4 | -90 | ||||||||||
Redemption or repurchase of mandatorily redeemable capital stock during the period | -357,765 | -384,425 | -312,698 | ||||||||||
Stock dividend classified as mandatorily redeemable capital stock during the period | 23 | 38 | 169 | ||||||||||
Balance at end of period | $ | 4,764 | $ | 5,665 | $ | 8,369 | |||||||
Schedule Of Mandatorily Redeemable Capital Stock, By Contractual Year Of Repurchase | ' | ||||||||||||
Table 14.3 | |||||||||||||
Contractual Year of Repurchase | 12/31/13 | 12/31/12 | |||||||||||
Year 1 | $ | 166 | $ | - | |||||||||
Year 2 | 52 | 1 | |||||||||||
Year 3 | - | 303 | |||||||||||
Year 4 | - | - | |||||||||||
Year 5 | 74 | - | |||||||||||
Past contractual redemption date due to remaining activity1 | 4,472 | 5,361 | |||||||||||
TOTAL | $ | 4,764 | $ | 5,665 | |||||||||
1Represents mandatorily redeemable capital stock that is past the end of the contractual redemption period because there is activity outstanding to which the mandatorily redeemable capital stock relates. | |||||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Accumulated Other Comprehensive Income [Abstract] | ' | |||||||||
Summary Of Changes In Accumulated Other Comprehensive Income | ' | |||||||||
Table 15.1 | ||||||||||
Net Non-credit Portion of OTTI Losses on Held-to-maturity Securities | Defined Benefit Pension Plan | Total AOCI | ||||||||
BALANCE - DECEMBER 31, 2010 | $ | -19,291 | $ | -3,381 | $ | -22,672 | ||||
Other comprehensive income (loss) before reclassification: | ||||||||||
Non-credit OTTI losses | -12,144 | -12,144 | ||||||||
Accretion of non-credit OTTI losses | 4,507 | 4,507 | ||||||||
Net gain (loss) - defined benefit pension plan | -1,020 | -1,020 | ||||||||
Reclassifications from other comprehensive income (loss) to net income: | ||||||||||
Non-credit OTTI to credit OTTI1 | 3,169 | 3,169 | ||||||||
Amortization of net loss - defined benefit pension plan2 | 319 | 319 | ||||||||
Net current period other comprehensive income (loss) | -4,468 | -701 | -5,169 | |||||||
BALANCE - DECEMBER 31, 2011 | -23,759 | -4,082 | -27,841 | |||||||
Other comprehensive income (loss) before reclassification: | ||||||||||
Non-credit OTTI losses | -4,634 | -4,634 | ||||||||
Accretion of non-credit OTTI losses | 6,358 | 6,358 | ||||||||
Net gain (loss) - defined benefit pension plan | -661 | -661 | ||||||||
Reclassifications from other comprehensive income (loss) to net income: | ||||||||||
Non-credit OTTI to credit OTTI1 | 1,189 | 1,189 | ||||||||
Amortization of net loss - defined benefit pension plan2 | 332 | 332 | ||||||||
Net current period other comprehensive income (loss) | 2,913 | -329 | 2,584 | |||||||
BALANCE - DECEMBER 31, 2012 | -20,846 | -4,411 | -25,257 | |||||||
Other comprehensive income (loss) before reclassification: | ||||||||||
Non-credit OTTI losses | -19 | -19 | ||||||||
Accretion of non-credit OTTI losses | 4,340 | 4,340 | ||||||||
Net gain (loss) - defined benefit pension plan | 1,667 | 1,667 | ||||||||
Reclassifications from other comprehensive income (loss) to net income: | ||||||||||
Non-credit OTTI to credit OTTI1 | 522 | 522 | ||||||||
Amortization of net loss - defined benefit pension plan2 | 386 | 386 | ||||||||
Net current period other comprehensive income (loss) | 4,843 | 2,053 | 6,896 | |||||||
BALANCE - DECEMBER 31, 2013 | $ | -16,003 | $ | -2,358 | $ | -18,361 | ||||
1Recorded in “Net other-than-temporary impairment losses on held-to-maturity securities” on the Statements of Income. Amount represents a debit (decrease to other income (loss)). | ||||||||||
2Recorded in “Compensation and benefits” on the Statements of Income. Amount represents a debit (increase to other expenses). | ||||||||||
Pension_And_Postretirement_Ben1
Pension And Postretirement Benefit Plans (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Pension And Postretirement Benefit Plans [Abstract] | ' | |||||||||
Schedule Of Net Funded Status | ' | |||||||||
Table 16.1 | ||||||||||
2013 | 2012 | 2011 | ||||||||
Net pension cost charged to compensation and benefits expense | $ | 2,510 | $ | 3,419 | $ | 4,864 | ||||
Pentegra Defined Benefit Plan funded status as of July 11 | 101.3 | % | 108.4 | % | 90.3 | % | ||||
FHLBank's funded status as of July 1 | 105.6 | % | 112.4 | % | 92.5 | % | ||||
1The funded status as of July 1, 2013 using the MAP-21 discount rate is preliminary and may increase because the plan’s participants were permitted to make contributions for the plan year ended June 30, 2013 through March 15, 2014. Contributions made on or before March 15, 2014, and designated for the plan year ended June 30, 2013, will be included in the final valuation as of July 1, 2013. The final funded status as of July 1, 2013 will not be available until the Form 5500 for the plan year July 1, 2013 through June 30, 2014 is filed (this Form 5500 is due to be filed no later than April 2015). The funded status as of July 1, 2012 is preliminary and may increase because the plan’s participants were permitted to make contributions for the plan year ended June 30, 2012 through March 15, 2013. Contributions made on or before March 15, 2013, and designated for the plan year ended June 30, 2012, will be included in the final valuation as of July 1, 2012. The final funded status as of July 1, 2012 will not be available until the Form 5500 for the plan year July 1, 2012 through June 30, 2013 is filed (this Form 5500 is due to be filed no later than April 2014). | ||||||||||
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block] | ' | |||||||||
Table 16.2 | ||||||||||
2013 | 2012 | |||||||||
Change in benefit obligation: | ||||||||||
Projected benefit obligation at beginning of year | $ | 11,911 | $ | 10,603 | ||||||
Service cost | 469 | 433 | ||||||||
Interest cost | 437 | 439 | ||||||||
Benefits paid | -225 | -225 | ||||||||
Net (gain) loss | -1,667 | 661 | ||||||||
Projected benefit obligation at end of year | 10,925 | 11,911 | ||||||||
Change in plan assets: | ||||||||||
Fair value of plan assets at beginning of year | - | - | ||||||||
Employer contributions | 225 | 225 | ||||||||
Benefits paid | -225 | -225 | ||||||||
Fair value of plan assets at end of year | - | - | ||||||||
FUNDED STATUS | $ | 10,925 | $ | 11,911 | ||||||
Components Of The Net Periodic Pension Cost For The Defined Benefit Portion | ' | |||||||||
Table 16.3 presents the components of the net periodic pension cost for the defined benefit portion of the FHLBank’s BEP for the years ended December 31, 2013, 2012, and 2011 (in thousands): | ||||||||||
Table 16.3 | ||||||||||
2013 | 2012 | 2011 | ||||||||
Service cost | $ | 469 | $ | 433 | $ | 373 | ||||
Interest cost | 437 | 439 | 451 | |||||||
Amortization of net loss | 386 | 332 | 319 | |||||||
NET PERIODIC POSTRETIREMENT BENEFIT COST | $ | 1,292 | $ | 1,204 | $ | 1,143 | ||||
Schedule Of Assumptions Used | ' | |||||||||
Table 16.4 | ||||||||||
2013 | 2012 | 2011 | ||||||||
Discount rate - benefit obligation | 4.75 | % | 3.75 | % | 4.20 | % | ||||
Discount rate - net periodic benefit cost | 3.75 | % | 4.20 | % | 5.25 | % | ||||
Salary increases | 5.03 | % | 5.06 | % | 4.92 | % | ||||
Amortization period (years) | 8 | 9 | 7 | |||||||
Accumulated benefit obligation | $ | 9,220 | $ | 9,904 | $ | 8,517 | ||||
Schedule Of Expected Benefit Payments | ' | |||||||||
Table 16.5 | ||||||||||
The estimated benefits to be paid by the FHLBank under the defined benefit portion of the BEP for the next five fiscal years and the combined five fiscal years thereafter are provided in the following table (in thousands): | ||||||||||
Year ending December 31, | Estimated Benefit Payments | |||||||||
2014 | $ | 319 | ||||||||
2015 | 360 | |||||||||
2016 | 407 | |||||||||
2017 | 472 | |||||||||
2018 | 559 | |||||||||
2019 through 2023 | 4,283 | |||||||||
Fair_Values_Tables
Fair Values (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Fair Values [Abstract] | ' | ||||||||||||||||||
Fair Value, By Balance Sheet Grouping | ' | ||||||||||||||||||
Table 17.1 | |||||||||||||||||||
12/31/13 | |||||||||||||||||||
Carrying Value | Total | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral | ||||||||||||||
Fair Value | |||||||||||||||||||
Assets: | |||||||||||||||||||
Cash and due from banks | $ | 1,713,940 | $ | 1,713,940 | $ | 1,713,940 | $ | - | $ | - | $ | - | |||||||
Interest-bearing deposits | 1,116 | 1,116 | - | 1,116 | - | - | |||||||||||||
Federal funds sold | 575,000 | 575,000 | - | 575,000 | - | - | |||||||||||||
Trading securities | 2,704,777 | 2,704,777 | - | 2,704,777 | - | - | |||||||||||||
Held-to-maturity securities | 5,423,659 | 5,415,205 | - | 5,038,465 | 376,740 | - | |||||||||||||
Advances | 17,425,487 | 17,461,489 | - | 17,461,489 | - | - | |||||||||||||
Mortgage loans held for portfolio, net of allowance | 5,949,480 | 5,991,371 | - | 5,991,371 | - | - | |||||||||||||
Accrued interest receivable | 72,526 | 72,526 | - | 72,526 | - | - | |||||||||||||
Derivative assets | 27,957 | 27,957 | - | 172,806 | - | -144,849 | |||||||||||||
Liabilities: | |||||||||||||||||||
Deposits | 961,888 | 961,888 | - | 961,888 | - | - | |||||||||||||
Consolidated obligation discount notes | 10,889,565 | 10,889,682 | - | 10,889,682 | - | - | |||||||||||||
Consolidated obligation bonds | 20,056,964 | 19,808,605 | - | 19,808,605 | - | - | |||||||||||||
Mandatorily redeemable capital stock | 4,764 | 4,764 | 4,764 | - | - | - | |||||||||||||
Accrued interest payable | 62,447 | 62,447 | - | 62,447 | - | - | |||||||||||||
Derivative liabilities | 108,353 | 108,353 | - | 470,329 | - | -361,976 | |||||||||||||
Other Asset (Liability): | |||||||||||||||||||
Standby letters of credit | -996 | -996 | - | -996 | - | - | |||||||||||||
Standby bond purchase agreements | 208 | 6,868 | - | 6,868 | - | - | |||||||||||||
Standby credit facility | -45 | -45 | - | -45 | - | - | |||||||||||||
Advance commitments | - | -182 | - | -182 | - | - | |||||||||||||
Table 17.2 | |||||||||||||||||||
12/31/12 | |||||||||||||||||||
Carrying Value | Total | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral | ||||||||||||||
Fair Value | |||||||||||||||||||
Assets: | |||||||||||||||||||
Cash and due from banks | $ | 369,997 | $ | 369,997 | $ | 369,997 | $ | - | $ | - | $ | - | |||||||
Interest-bearing deposits | 455 | 455 | - | 455 | - | - | |||||||||||||
Securities purchased under agreements to resell | 1,999,288 | 1,999,288 | - | 1,999,288 | - | - | |||||||||||||
Federal funds sold | 850,000 | 850,000 | - | 850,000 | - | - | |||||||||||||
Trading securities | 2,764,918 | 2,764,918 | - | 2,764,918 | - | - | |||||||||||||
Held-to-maturity securities | 5,159,750 | 5,192,330 | - | 4,633,792 | 558,538 | - | |||||||||||||
Advances | 16,573,348 | 16,714,319 | - | 16,714,319 | - | - | |||||||||||||
Mortgage loans held for portfolio, net of allowance | 5,940,517 | 6,256,905 | - | 6,256,905 | - | - | |||||||||||||
Accrued interest receivable | 77,445 | 77,445 | - | 77,445 | - | - | |||||||||||||
Derivative assets | 25,166 | 25,166 | - | 256,379 | - | -231,213 | |||||||||||||
Liabilities: | |||||||||||||||||||
Deposits | 1,181,957 | 1,181,957 | - | 1,181,957 | - | - | |||||||||||||
Consolidated obligation discount notes | 8,669,059 | 8,669,327 | - | 8,669,327 | - | - | |||||||||||||
Consolidated obligation bonds | 21,973,902 | 22,189,631 | - | 22,189,631 | - | - | |||||||||||||
Mandatorily redeemable capital stock | 5,665 | 5,665 | 5,665 | - | - | - | |||||||||||||
Accrued interest payable | 81,801 | 81,801 | - | 81,801 | - | - | |||||||||||||
Derivative liabilities | 123,414 | 123,414 | - | 664,992 | - | -541,578 | |||||||||||||
Other Asset (Liability): | |||||||||||||||||||
Standby letters of credit | -1,039 | -1,039 | - | -1,039 | - | - | |||||||||||||
Standby bond purchase agreements | 588 | 4,922 | - | 4,922 | - | - | |||||||||||||
Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ' | ||||||||||||||||||
Table 17.3 | |||||||||||||||||||
12/31/13 | |||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral1 | |||||||||||||||
Recurring fair value measurements - Assets: | |||||||||||||||||||
Trading securities: | |||||||||||||||||||
Certificates of deposit | $ | 260,009 | $ | - | $ | 260,009 | $ | - | $ | - | |||||||||
U.S. Treasury obligations | 25,012 | - | 25,012 | - | - | ||||||||||||||
Government-sponsored enterprise obligations2,3 | 2,247,966 | - | 2,247,966 | - | - | ||||||||||||||
U.S. obligation residential MBS4 | 1,090 | - | 1,090 | - | - | ||||||||||||||
Government-sponsored enterprise residential MBS5 | 170,700 | - | 170,700 | - | - | ||||||||||||||
Total trading securities | 2,704,777 | - | 2,704,777 | - | - | ||||||||||||||
Derivative assets: | |||||||||||||||||||
Interest-rate related | 27,933 | - | 172,782 | - | -144,849 | ||||||||||||||
Mortgage delivery commitments | 24 | - | 24 | - | - | ||||||||||||||
Total derivative assets | 27,957 | - | 172,806 | - | -144,849 | ||||||||||||||
TOTAL RECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 2,732,734 | $ | - | $ | 2,877,583 | $ | - | $ | -144,849 | |||||||||
Recurring fair value measurements - Liabilities: | |||||||||||||||||||
Derivative liabilities: | |||||||||||||||||||
Interest-rate related | $ | 108,064 | $ | - | $ | 470,040 | $ | - | $ | -361,976 | |||||||||
Mortgage delivery commitments | 289 | - | 289 | - | - | ||||||||||||||
Total derivative liabilities | 108,353 | - | 470,329 | - | -361,976 | ||||||||||||||
TOTAL RECURRING FAIR VALUE MEASUREMENTS - LIABILITIES | $ | 108,353 | $ | - | $ | 470,329 | $ | - | $ | -361,976 | |||||||||
Nonrecurring fair value measurements - Assets: | |||||||||||||||||||
Held-to-maturity securities6: | |||||||||||||||||||
Private-label residential MBS | $ | 237 | $ | - | $ | - | $ | 237 | $ | - | |||||||||
Real estate owned7 | $ | 497 | - | - | $ | 497 | - | ||||||||||||
TOTAL NONRECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 734 | $ | - | $ | - | $ | 734 | $ | - | |||||||||
1Represents the effect of legally enforceable master netting agreements that allow the FHLBank to net settle positive and negative positions and also derivative cash collateral and related accrued interest held or placed with the same counterparties. | |||||||||||||||||||
2Represents debentures issued by other FHLBanks, Fannie Mae, Freddie Mac, Farm Credit, and Farmer Mac. GSE securities are not guaranteed by the U.S. government. Fannie Mae and Freddie Mac were placed into conservatorship by the Finance Agency on September 7, 2008 with the Finance Agency named as conservator. | |||||||||||||||||||
3See Note 20 for transactions with other FHLBanks. | |||||||||||||||||||
4Represents MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | |||||||||||||||||||
5Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | |||||||||||||||||||
6Excludes impaired securities with carrying values less than their fair values at date of impairment. | |||||||||||||||||||
7Includes real estate owned written down to fair value during the quarter ended December 31, 2013 and still outstanding as of December 31, 2013. | |||||||||||||||||||
Table 17.4 | |||||||||||||||||||
12/31/12 | |||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral1 | |||||||||||||||
Recurring fair value measurements - Assets: | |||||||||||||||||||
Trading securities: | |||||||||||||||||||
Commercial paper | $ | 59,996 | $ | - | $ | 59,996 | $ | - | $ | - | |||||||||
Certificates of deposit | 325,006 | - | 325,006 | - | - | ||||||||||||||
Government-sponsored enterprise obligations2,3 | 2,126,327 | - | 2,126,327 | - | - | ||||||||||||||
U.S. obligation residential MBS4 | 1,277 | - | 1,277 | - | - | ||||||||||||||
Government-sponsored enterprise residential MBS5 | 252,312 | - | 252,312 | - | - | ||||||||||||||
Total trading securities | 2,764,918 | - | 2,764,918 | - | - | ||||||||||||||
Derivative assets: | |||||||||||||||||||
Interest-rate related | 25,064 | - | 256,277 | - | -231,213 | ||||||||||||||
Mortgage delivery commitments | 102 | - | 102 | - | - | ||||||||||||||
Total derivative assets | 25,166 | - | 256,379 | - | -231,213 | ||||||||||||||
TOTAL RECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 2,790,084 | $ | - | $ | 3,021,297 | $ | - | $ | -231,213 | |||||||||
Recurring fair value measurements - Liabilities: | |||||||||||||||||||
Derivative liabilities: | |||||||||||||||||||
Interest-rate related | $ | 123,318 | $ | - | $ | 664,896 | $ | - | $ | -541,578 | |||||||||
Mortgage delivery commitments | 96 | - | 96 | - | - | ||||||||||||||
Total derivative liabilities | 123,414 | - | 664,992 | - | -541,578 | ||||||||||||||
TOTAL RECURRING FAIR VALUE MEASUREMENTS - LIABILITIES | $ | 123,414 | $ | - | $ | 664,992 | $ | - | $ | -541,578 | |||||||||
Nonrecurring fair value measurements - Assets: | |||||||||||||||||||
Real estate owned6 | 540 | - | - | 540 | - | ||||||||||||||
TOTAL NONRECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 540 | $ | - | $ | - | $ | 540 | $ | - | |||||||||
1Represents the effect of legally enforceable master netting agreements that allow the FHLBank to net settle positive and negative positions and also derivative cash collateral and related accrued interest held or placed with the same counterparties. | |||||||||||||||||||
2Represents debentures issued by other FHLBanks, Fannie Mae, Freddie Mac, Farm Credit, and Farmer Mac. GSE securities are not guaranteed by the U.S. government. Fannie Mae and Freddie Mac were placed into conservatorship by the Finance Agency on September 7, 2008 with the Finance Agency named as conservator. | |||||||||||||||||||
3See Note 20 for transactions with other FHLBanks. | |||||||||||||||||||
4Represents MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | |||||||||||||||||||
5Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | |||||||||||||||||||
6Includes real estate owned written down to fair value during the quarter ended December 31, 2012 and still outstanding as of December 31, 2012. | |||||||||||||||||||
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Commitments And Contingencies [Abstract] | ' | ||||||||||||||||||
Schedule Of Off Balance Sheet Commitments | ' | ||||||||||||||||||
Table 18.1 | |||||||||||||||||||
12/31/13 | 12/31/12 | ||||||||||||||||||
Notional Amount | Expire Within | Expire After One Year | Total | Expire Within | Expire After One Year | Total | |||||||||||||
One Year | One Year | ||||||||||||||||||
Standby letters of credit outstanding | $ | 2,530,810 | $ | 12,038 | $ | 2,542,848 | $ | 2,533,506 | $ | 21,332 | $ | 2,554,838 | |||||||
Standby credit facility commitments outstanding | 50,000 | - | 50,000 | - | - | - | |||||||||||||
Advance commitments outstanding | 6,000 | - | 6,000 | - | - | - | |||||||||||||
Commitments for standby bond purchases | 363,777 | 1,293,972 | 1,657,749 | 532,028 | 1,065,176 | 1,597,204 | |||||||||||||
Commitments to fund or purchase mortgage loans | 65,620 | - | 65,620 | 106,355 | - | 106,355 | |||||||||||||
Commitments to issue consolidated bonds, at par | 75,000 | - | 75,000 | 165,000 | - | 165,000 | |||||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ||||||||||||||||||
Table 18.2 | |||||||||||||||||||
Year | Premises | Equipment | Total | ||||||||||||||||
2014 | $ | 50 | $ | 63 | $ | 113 | |||||||||||||
2015 | 45 | 10 | 55 | ||||||||||||||||
2016 | 45 | 3 | 48 | ||||||||||||||||
2017 | 19 | - | 19 | ||||||||||||||||
Thereafter | - | - | - | ||||||||||||||||
TOTAL | $ | 159 | $ | 76 | $ | 235 | |||||||||||||
Transactions_With_Stockholders1
Transactions With Stockholders And Housing Associates (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Transactions With Stockholders And Housing Associates [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Related Party Transactions, By Party With Ten Percent Or More Of Capital Stock | ' | ||||||||||||||||||||||||
Activity with Members that Exceed a 10 Percent Ownership in FHLBank Capital Stock: Tables 19.1 and 19.2 present information as of December 31, 2013 and 2012 on members that owned more than 10 percent of outstanding FHLBank regulatory capital stock in 2013 or 2012 (amounts in thousands). None of the officers or directors of these members currently serve on the FHLBank’s board of directors. | |||||||||||||||||||||||||
Table 19.1 | |||||||||||||||||||||||||
12/31/13 | |||||||||||||||||||||||||
Member Name | State | Total Class A Stock Par Value | Percent of Total Class A | Total Class B Stock Par Value | Percent of Total Class B | Total Capital Stock Par Value | Percent of Total Capital Stock | ||||||||||||||||||
MidFirst Bank | OK | $ | 500 | 0.1 | % | $ | 136,870 | 16.7 | % | $ | 137,370 | 10.9 | % | ||||||||||||
Capitol Federal Savings Bank | KS | 2,100 | 0.5 | 126,995 | 15.4 | 129,095 | 10.3 | ||||||||||||||||||
TOTAL | $ | 2,600 | 0.6 | % | $ | 263,865 | 32.1 | % | $ | 266,465 | 21.2 | % | |||||||||||||
Table 19.2 | |||||||||||||||||||||||||
12/31/12 | |||||||||||||||||||||||||
Member Name | State | Total Class A Stock Par Value | Percent of Total Class A | Total Class B Stock Par Value | Percent of Total Class B | Total Capital Stock Par Value | Percent of Total Capital Stock | ||||||||||||||||||
MidFirst Bank | OK | $ | 500 | 0.1 | % | $ | 145,727 | 16.9 | % | $ | 146,227 | 11.5 | % | ||||||||||||
Capitol Federal Savings Bank | KS | 2,002 | 0.5 | 128,782 | 15.0 | 130,784 | 10.3 | ||||||||||||||||||
TOTAL | $ | 2,502 | 0.6 | % | $ | 274,509 | 31.9 | % | $ | 277,011 | 21.8 | % | |||||||||||||
Advance and deposit balances with members that owned more than 10 percent of outstanding FHLBank regulatory capital stock as of December 31, 2013 and 2012 are summarized in Table 19.3 (amounts in thousands). | |||||||||||||||||||||||||
Table 19.3 | |||||||||||||||||||||||||
12/31/13 | 12/31/12 | 12/31/13 | 12/31/12 | ||||||||||||||||||||||
Member Name | Outstanding Advances | Percent of Total | Outstanding Advances | Percent of Total | Outstanding Deposits | Percent of Total | Outstanding Deposits | Percent of Total | |||||||||||||||||
MidFirst Bank | $ | 2,720,000 | 15.8 | % | $ | 2,898,000 | 18.0 | % | $ | 538 | 0.1 | % | $ | 13 | - | % | |||||||||
Capitol Federal Savings Bank | 2,525,000 | 14.7 | 2,550,000 | 15.8 | 611 | 0.1 | 1,247 | 0.1 | |||||||||||||||||
TOTAL | $ | 5,245,000 | 30.5 | % | $ | 5,448,000 | 33.8 | % | $ | 1,149 | 0.2 | % | $ | 1,260 | 0.1 | % | |||||||||
Schedule Of Related Party Transactions, Capital Stock Disclosure | ' | ||||||||||||||||||||||||
Table 19.4 | |||||||||||||||||||||||||
12/31/13 | |||||||||||||||||||||||||
Member Name | State | Total Class A Stock Par Value | Percent of Total Class A | Total Class B Stock Par Value | Percent of Total Class B | Total Capital Stock Par Value | Percent of Total Capital Stock | ||||||||||||||||||
FirstBank | CO | $ | 1,600 | 0.4 | % | $ | 2,215 | 0.3 | % | $ | 3,815 | 0.3 | % | ||||||||||||
Girard National Bank | KS | 1,061 | 0.2 | 1,666 | 0.2 | 2,727 | 0.2 | ||||||||||||||||||
Vision Bank, NA | OK | 1,623 | 0.4 | 682 | 0.1 | 2,305 | 0.2 | ||||||||||||||||||
First State Bank Nebraska | NE | 973 | 0.2 | 1,301 | 0.2 | 2,274 | 0.2 | ||||||||||||||||||
NebraskaLand National Bank | NE | 561 | 0.1 | 1,510 | 0.2 | 2,071 | 0.2 | ||||||||||||||||||
Bank of Bennington | NE | 951 | 0.2 | 51 | - | 1,002 | 0.1 | ||||||||||||||||||
Citizens Bank & Trust Co. | OK | 934 | 0.2 | 51 | - | 985 | 0.1 | ||||||||||||||||||
Points West Community Bank | NE | 648 | 0.1 | 244 | - | 892 | 0.1 | ||||||||||||||||||
Points West Community Bank | CO | 244 | 0.1 | 293 | - | 537 | - | ||||||||||||||||||
Fullerton National Bank | NE | 155 | - | 266 | - | 421 | - | ||||||||||||||||||
Bankers' Bank of Kansas | KS | 270 | 0.1 | 2 | - | 272 | - | ||||||||||||||||||
Bank of Estes Park | CO | 221 | 0.1 | 1 | - | 222 | - | ||||||||||||||||||
First Security Bank | KS | 139 | - | 50 | - | 189 | - | ||||||||||||||||||
TOTAL | $ | 9,380 | 2.1 | % | $ | 8,332 | 1.0 | % | $ | 17,712 | 1.4 | % | |||||||||||||
Table 19.5 | |||||||||||||||||||||||||
12/31/12 | |||||||||||||||||||||||||
Member Name | State | Total Class A Stock Par Value | Percent of Total Class A | Total Class B Stock Par Value | Percent of Total Class B | Total Capital Stock Par Value | Percent of Total Capital Stock | ||||||||||||||||||
FirstBank | CO | $ | 500 | 0.1 | % | $ | 5,700 | 0.7 | % | $ | 6,200 | 0.5 | % | ||||||||||||
Girard National Bank | KS | 623 | 0.2 | 3,728 | 0.4 | 4,351 | 0.3 | ||||||||||||||||||
Golden Belt Bank, FSA | KS | 1,192 | 0.3 | 2,143 | 0.3 | 3,335 | 0.3 | ||||||||||||||||||
Vision Bank, NA | OK | 2,000 | 0.5 | 956 | 0.1 | 2,956 | 0.2 | ||||||||||||||||||
First State Bank Nebraska | NE | 510 | 0.1 | 1,715 | 0.2 | 2,225 | 0.2 | ||||||||||||||||||
Morgan Federal Bank | CO | 907 | 0.2 | 1,162 | 0.1 | 2,069 | 0.2 | ||||||||||||||||||
NebraskaLand National Bank | NE | 961 | 0.2 | 754 | 0.1 | 1,715 | 0.1 | ||||||||||||||||||
Citizens Bank & Trust Co. | OK | 931 | 0.2 | 51 | - | 982 | 0.1 | ||||||||||||||||||
Bankers' Bank of Kansas, NA | KS | 270 | 0.1 | 2 | - | 272 | - | ||||||||||||||||||
TOTAL | $ | 7,894 | 1.9 | % | $ | 16,211 | 1.9 | % | $ | 24,105 | 1.9 | % | |||||||||||||
Schedule Of Related Party Transactions, Advances And Deposits Disclosure | ' | ||||||||||||||||||||||||
Table 19.6 | |||||||||||||||||||||||||
12/31/13 | 12/31/12 | 12/31/13 | 12/31/12 | ||||||||||||||||||||||
Member Name | Outstanding Advances | Percent of Total | Outstanding Advances | Percent of Total | Outstanding Deposits | Percent of Total | Outstanding Deposits | Percent of Total | |||||||||||||||||
FirstBank | $ | 53,275 | 0.3 | % | $ | 38,000 | 0.2 | % | $ | 2,639 | 0.3 | % | $ | 7,252 | 0.6 | % | |||||||||
Girard National Bank | 36,469 | 0.2 | 37,514 | 0.2 | 1,711 | 0.2 | 2,333 | 0.2 | |||||||||||||||||
Vision Bank, NA | 22,489 | 0.1 | 23,543 | 0.2 | 206 | - | 781 | 0.1 | |||||||||||||||||
First State Bank Nebraska | 25,817 | 0.2 | 33,867 | 0.2 | 220 | - | 866 | 0.1 | |||||||||||||||||
NebraskaLand National Bank | 36,050 | 0.2 | 11,000 | 0.1 | 50 | - | 76 | - | |||||||||||||||||
Bank of Bennington | 80 | - | 1,086 | 0.1 | |||||||||||||||||||||
Citizens Bank & Trust Co. | 1,000 | - | 1,000 | - | 104 | - | 110 | - | |||||||||||||||||
Points West Community Bank (NE) | 11,204 | 0.1 | 77 | - | |||||||||||||||||||||
Points West Community Bank (CO) | 9,858 | 0.1 | 53 | - | |||||||||||||||||||||
Fullerton National Bank | 5,093 | - | 9 | - | |||||||||||||||||||||
Bankers' Bank of Kansas | 1,975 | - | 1,975 | - | 8 | - | 13 | - | |||||||||||||||||
Bank of Estes Park | - | - | 19 | - | |||||||||||||||||||||
First Security Bank | - | - | 38 | - | |||||||||||||||||||||
Golden Belt Bank, FSA | 10,887 | 0.1 | 3,247 | 0.3 | |||||||||||||||||||||
Morgan Federal Bank | 11,800 | 0.1 | 6,224 | 0.5 | |||||||||||||||||||||
TOTAL | $ | 203,310 | 1.2 | % | $ | 169,586 | 1.1 | % | $ | 6,220 | 0.6 | % | $ | 20,902 | 1.8 | % | |||||||||
Schedule Of Related Party Transactions, Mortgage Loans Disclosure | ' | ||||||||||||||||||||||||
Table 19.7 | |||||||||||||||||||||||||
12/31/13 | 12/31/12 | ||||||||||||||||||||||||
Member Name | Total Mortgage Loans | Percent of Total | Total Mortgage Loans | Percent of Total | |||||||||||||||||||||
FirstBank | $ | 32,895 | 2.7 | % | $ | 152,817 | 6.1 | % | |||||||||||||||||
Girard National Bank | 17,137 | 1.4 | 28,000 | 1.1 | |||||||||||||||||||||
Vision Bank, NA | - | - | 6,498 | 0.3 | |||||||||||||||||||||
First State Bank Nebraska | 1,144 | 0.1 | 15,569 | 0.6 | |||||||||||||||||||||
NebraskaLand National Bank | 5,107 | 0.4 | 12,427 | 0.5 | |||||||||||||||||||||
Bank of Bennington | 8,785 | 0.7 | |||||||||||||||||||||||
Citizens Bank & Trust Co. | - | - | - | - | |||||||||||||||||||||
Points West Community Bank (NE) | - | - | |||||||||||||||||||||||
Points West Community Bank (CO) | 227 | - | |||||||||||||||||||||||
Fullerton National Bank | 1,238 | 0.1 | |||||||||||||||||||||||
Bankers' Bank of Kansas | - | - | - | - | |||||||||||||||||||||
Bank of Estes Park | - | - | |||||||||||||||||||||||
First Security Bank | - | - | |||||||||||||||||||||||
Golden Belt Bank, FSA | 32,083 | 1.3 | |||||||||||||||||||||||
Morgan Federal Bank | 9,976 | 0.4 | |||||||||||||||||||||||
TOTAL | $ | 66,533 | 5.4 | % | $ | 257,370 | 10.3 | % | |||||||||||||||||
Transactions_With_Other_FHLBan1
Transactions With Other FHLBanks (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Transactions With Other FHLBanks [Abstract] | ' | |||||||||
Transactions With Other Federal Home Loan Banks | ' | |||||||||
Table 20.1 | ||||||||||
Business Activity | 2013 | 2012 | 2011 | |||||||
Average overnight interbank loan balances to other FHLBanks1 | $ | 1,847 | $ | 2,242 | $ | 1,432 | ||||
Average overnight interbank loan balances from other FHLBanks1 | 13,671 | 3,907 | 4,963 | |||||||
Average deposit balance with FHLBank of Chicago for shared expense transactions2 | 86 | 108 | 65 | |||||||
Average deposit balance with FHLBank of Chicago for MPF transactions2 | 2,029 | 1,139 | 23 | |||||||
Transaction charges paid to FHLBank of Chicago for transaction service fees3 | 3,126 | 2,879 | 2,334 | |||||||
Par amount of purchases of consolidated obligations issued on behalf of other FHLBanks4 | 150,500 | - | - | |||||||
_________ | ||||||||||
1Occasionally, the FHLBank loans (or borrows) short-term funds to (from) other FHLBanks. Interest income on loans to other FHLBanks is included in Other Interest Income and interest expense on borrowings from other FHLBanks is included in Other Interest Expense on the Statements of Income. | ||||||||||
2Balance is interest bearing and is classified on the Statements of Condition as interest-bearing deposits. | ||||||||||
3Fees are calculated monthly based on 5.5 basis points per annum of outstanding loans originated since January 1, 2010 and are recorded in other expense. For outstanding loans originated since January 1, 2004 and through December 31, 2009, fees are calculated monthly based on 5.0 basis points per annum. | ||||||||||
4Purchases of consolidated obligations issued on behalf of one FHLBank and purchased by the FHLBank occur at market prices with third parties and are accounted for in the same manner as similarly classified investments. Outstanding fair value balances totaling $260,318,000 and $126,828,000 as of December 31, 2013 and December 31, 2012, respectively, are included in the non-MBS GSE obligations totals presented in Note 4. Interest income earned on these securities totaled $7,151,000 $5,582,000, and $5,582,000 for the years ended December 31, 2013, 2012, and 2011, respectively. | ||||||||||
Recovered_Sheet1
Summary of Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Accumulated depreciation and amortization related to premises, software and equipment | $25,774 | $24,187 | ' |
Depreciation and amortization | 1,943 | 2,152 | 2,866 |
Net realized gain (loss) on disposal of premises, software and equipment | 17 | -1,951 | 6 |
Premises, software and equipment, net | 11,146 | 8,874 | ' |
Percentage of income allocated to separate restricted retained earnings account | 20.00% | ' | ' |
Percent of Average Balance of Outstanding Consolidated Obligations Required per the Joint Capital Enhancement Agreement For Each Previous Quarter | 1.00% | ' | ' |
Software [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation and amortization | 651 | 764 | 1,378 |
Premises, software and equipment, net | $2,235 | $1,309 | ' |
Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '3 years | ' | ' |
Minimum [Member] | Software [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '3 years | ' | ' |
Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '20 years | ' | ' |
Maximum [Member] | Software [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '5 years | ' | ' |
Cash_and_Due_From_Banks_Narrat
Cash and Due From Banks (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Cash and Due from Banks [Abstract] | ' | ' |
Cash Pass Through Reserve | $1,357 | $360 |
Investment_Securities_Narrativ
Investment Securities (Narrative) (Details) | 3 Months Ended |
Dec. 31, 2013 | |
Minimum [Member] | ' |
Investment [Line Items] | ' |
Assumed Current To Trough Home Price Decline Rate | -5.00% |
Home price percentage change | -1.00% |
Maximum [Member] | ' |
Investment [Line Items] | ' |
Assumed Current To Trough Home Price Decline Rate | 7.00% |
Home price percentage change | 5.00% |
Mortgage-Backed Securities [Member] | ' |
Investment [Line Items] | ' |
Held-to-Maturity Securities, Other Than Temporarily Impaired, Number of Securities, Life to Date | 27 |
Investment_Securities_Summary_
Investment Securities (Summary Of Trading And Held-To-Maturity Securities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | $2,704,777 | $2,764,918 | ||
Held-to-maturity securities, Carrying Value | 5,423,659 | [1] | 5,159,750 | [1] |
Held-to-maturity securities, OTTI Recognized in OCI | 16,003 | 20,846 | ||
Held-to-maturity securities, Amortized Cost | 5,439,662 | 5,180,596 | ||
Held-to-maturity securities, Gross Unrecognized Gains | 25,645 | 46,979 | ||
Held-to-maturity securities, Gross Unrecognized Losses | 50,102 | 35,245 | ||
Held-to-maturity securities, Fair Value | 5,415,205 | 5,192,330 | ||
Non-mortgage-backed Securities [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | 2,532,987 | 2,511,329 | ||
Held-to-maturity securities, Carrying Value | 63,472 | 69,442 | ||
Held-to-maturity securities, OTTI Recognized in OCI | 0 | 0 | ||
Held-to-maturity securities, Amortized Cost | 63,472 | 69,442 | ||
Held-to-maturity securities, Gross Unrecognized Gains | 19 | 170 | ||
Held-to-maturity securities, Gross Unrecognized Losses | 8,619 | 8,686 | ||
Held-to-maturity securities, Fair Value | 54,872 | 60,926 | ||
Commercial Paper [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | ' | 59,996 | ||
Held-to-maturity securities, Carrying Value | ' | 0 | ||
Held-to-maturity securities, OTTI Recognized in OCI | ' | 0 | ||
Held-to-maturity securities, Amortized Cost | ' | 0 | ||
Held-to-maturity securities, Gross Unrecognized Gains | ' | 0 | ||
Held-to-maturity securities, Gross Unrecognized Losses | ' | 0 | ||
Held-to-maturity securities, Fair Value | ' | 0 | ||
Certificates Of Deposit [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | 260,009 | 325,006 | ||
Held-to-maturity securities, Carrying Value | 0 | 0 | ||
Held-to-maturity securities, OTTI Recognized in OCI | 0 | 0 | ||
Held-to-maturity securities, Amortized Cost | 0 | 0 | ||
Held-to-maturity securities, Gross Unrecognized Gains | 0 | 0 | ||
Held-to-maturity securities, Gross Unrecognized Losses | 0 | 0 | ||
Held-to-maturity securities, Fair Value | 0 | 0 | ||
U.S. Treasury Obligations [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | 25,012 | ' | ||
Held-to-maturity securities, Carrying Value | 0 | ' | ||
Held-to-maturity securities, OTTI Recognized in OCI | 0 | ' | ||
Held-to-maturity securities, Amortized Cost | 0 | ' | ||
Held-to-maturity securities, Gross Unrecognized Gains | 0 | ' | ||
Held-to-maturity securities, Gross Unrecognized Losses | 0 | ' | ||
Held-to-maturity securities, Fair Value | 0 | ' | ||
Government-Sponsored Enterprise Obligations [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | 2,247,966 | [2],[3] | 2,126,327 | [2],[4] |
Held-to-maturity securities, Carrying Value | 0 | [2],[3] | 0 | [2],[4] |
Held-to-maturity securities, OTTI Recognized in OCI | 0 | [2],[3] | 0 | [2],[4] |
Held-to-maturity securities, Amortized Cost | 0 | [2],[3] | 0 | [2],[4] |
Held-to-maturity securities, Gross Unrecognized Gains | 0 | [2],[3] | 0 | [2],[4] |
Held-to-maturity securities, Gross Unrecognized Losses | 0 | [2],[3] | 0 | [2],[4] |
Held-to-maturity securities, Fair Value | 0 | [2],[3] | 0 | [2],[4] |
State Or Local Housing Agency Obligations [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | 0 | 0 | ||
Held-to-maturity securities, Carrying Value | 63,472 | 69,442 | ||
Held-to-maturity securities, OTTI Recognized in OCI | 0 | 0 | ||
Held-to-maturity securities, Amortized Cost | 63,472 | 69,442 | ||
Held-to-maturity securities, Gross Unrecognized Gains | 19 | 170 | ||
Held-to-maturity securities, Gross Unrecognized Losses | 8,619 | 8,686 | ||
Held-to-maturity securities, Fair Value | 54,872 | 60,926 | ||
Mortgage-Backed Securities [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | 171,790 | 253,589 | ||
Held-to-maturity securities, Carrying Value | 5,360,187 | 5,090,308 | ||
Held-to-maturity securities, OTTI Recognized in OCI | 16,003 | 20,846 | ||
Held-to-maturity securities, Amortized Cost | 5,376,190 | 5,111,154 | ||
Held-to-maturity securities, Gross Unrecognized Gains | 25,626 | 46,809 | ||
Held-to-maturity securities, Gross Unrecognized Losses | 41,483 | 26,559 | ||
Held-to-maturity securities, Fair Value | 5,360,333 | 5,131,404 | ||
Residential Mortgage Backed Securities [Member] | U.S. Olbigation MBS [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | 1,090 | [5] | 1,277 | [6] |
Held-to-maturity securities, Carrying Value | 68,977 | [5] | 85,484 | [6] |
Held-to-maturity securities, OTTI Recognized in OCI | 0 | [5] | 0 | [6] |
Held-to-maturity securities, Amortized Cost | 68,977 | [5] | 85,484 | [6] |
Held-to-maturity securities, Gross Unrecognized Gains | 217 | [5] | 650 | [6] |
Held-to-maturity securities, Gross Unrecognized Losses | 14 | [5],[6] | 0 | [6] |
Held-to-maturity securities, Fair Value | 69,180 | [5] | 86,134 | [6] |
Residential Mortgage Backed Securities [Member] | Government-sponsored enterprise MBS [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | 170,700 | [7] | 252,312 | [7] |
Held-to-maturity securities, Carrying Value | 4,974,649 | [7] | 4,509,121 | [7] |
Held-to-maturity securities, OTTI Recognized in OCI | 0 | [7] | 0 | [7] |
Held-to-maturity securities, Amortized Cost | 4,974,649 | [7] | 4,509,121 | [7] |
Held-to-maturity securities, Gross Unrecognized Gains | 21,744 | [7] | 39,571 | [7] |
Held-to-maturity securities, Gross Unrecognized Losses | 27,108 | [7] | 1,034 | [7] |
Held-to-maturity securities, Fair Value | 4,969,285 | [7] | 4,547,658 | [7] |
Residential Mortgage Backed Securities [Member] | Private-Label Mortgage-Backed Securities [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | 0 | 0 | ||
Held-to-maturity securities, Carrying Value | 315,333 | 494,631 | ||
Held-to-maturity securities, OTTI Recognized in OCI | 15,825 | 20,649 | ||
Held-to-maturity securities, Amortized Cost | 331,158 | 515,280 | ||
Held-to-maturity securities, Gross Unrecognized Gains | 2,304 | 5,433 | ||
Held-to-maturity securities, Gross Unrecognized Losses | 14,361 | 25,522 | ||
Held-to-maturity securities, Fair Value | 319,101 | 495,191 | ||
Private-label Home Equity Loan ABS [Member] | Private-Label Mortgage-Backed Securities [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | 0 | 0 | ||
Held-to-maturity securities, Carrying Value | 1,228 | 1,072 | ||
Held-to-maturity securities, OTTI Recognized in OCI | 178 | 197 | ||
Held-to-maturity securities, Amortized Cost | 1,406 | 1,269 | ||
Held-to-maturity securities, Gross Unrecognized Gains | 1,361 | 1,155 | ||
Held-to-maturity securities, Gross Unrecognized Losses | 0 | 3 | ||
Held-to-maturity securities, Fair Value | $2,767 | $2,421 | ||
[1] | Fair value:B $5,415,205 and $5,192,330 as of December 31, 2013 and 2012, respectively. | |||
[2] | See Note 20 for transactions with other FHLBanks. | |||
[3] | Represents debentures issued by other FHLBanks, Federal National Mortgage Association (FannieB Mae), Federal Home Loan Mortgage Corporation (FreddieB Mac), Federal Farm Credit Bank (Farm Credit), and Federal Agricultural Mortgage Corporation (Farmer Mac). GSE securities are not guaranteed by the U.S. government. Fannie Mae and Freddie Mac were placed into conservatorship by the Finance Agency on September 7, 2008 with the Finance Agency named as conservator. | |||
[4] | Represents debentures issued by other FHLBanks, FannieB Mae, FreddieB Mac, Farm Credit, and Farmer Mac. GSE securities are not guaranteed by the U.S. government. Fannie Mae and Freddie Mac were placed into conservatorship by the Finance Agency on September 7, 2008 with the Finance Agency named as conservator. | |||
[5] | Represents MBS issued by Government National Mortgage Association (GinnieB Mae), which are guaranteed by the U.S. government. | |||
[6] | Represents MBS issued by GinnieB Mae, which are guaranteed by the U.S. government. | |||
[7] | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. |
Investment_Securities_HeldToMa
Investment Securities (Held-To-Maturity Securities With Unrecognized Losses) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Less Than 12 Months, Fair Value | $2,153,450 | $343,956 | ||
Held-to-maturity securities, Less Than 12 Months, Unrecognized Losses | 17,189 | 837 | ||
Held-to-maturity securities, 12 Months or More, Fair Value | 598,747 | 414,227 | ||
Held-to-maturity securities, 12 Months or More, Unrecognized Losses | 32,913 | 34,408 | ||
Held-to-maturity securities, Total, Fair Value | 2,752,197 | 758,183 | ||
Held-to-maturity securities, Total, Unrecognized Losses | 50,102 | 35,245 | ||
Non-mortgage-backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Less Than 12 Months, Fair Value | 6,660 | 0 | ||
Held-to-maturity securities, Less Than 12 Months, Unrecognized Losses | 367 | 0 | ||
Held-to-maturity securities, 12 Months or More, Fair Value | 38,743 | 40,719 | ||
Held-to-maturity securities, 12 Months or More, Unrecognized Losses | 8,252 | 8,686 | ||
Held-to-maturity securities, Total, Fair Value | 45,403 | 40,719 | ||
Held-to-maturity securities, Total, Unrecognized Losses | 8,619 | 8,686 | ||
State Or Local Housing Agency Obligations [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Less Than 12 Months, Fair Value | 6,660 | 0 | ||
Held-to-maturity securities, Less Than 12 Months, Unrecognized Losses | 367 | 0 | ||
Held-to-maturity securities, 12 Months or More, Fair Value | 38,743 | 40,719 | ||
Held-to-maturity securities, 12 Months or More, Unrecognized Losses | 8,252 | 8,686 | ||
Held-to-maturity securities, Total, Fair Value | 45,403 | 40,719 | ||
Held-to-maturity securities, Total, Unrecognized Losses | 8,619 | 8,686 | ||
Mortgage-Backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Less Than 12 Months, Fair Value | 2,146,790 | 343,956 | ||
Held-to-maturity securities, Less Than 12 Months, Unrecognized Losses | 16,822 | 837 | ||
Held-to-maturity securities, 12 Months or More, Fair Value | 560,004 | 373,508 | ||
Held-to-maturity securities, 12 Months or More, Unrecognized Losses | 24,661 | 25,722 | ||
Held-to-maturity securities, Total, Fair Value | 2,706,794 | 717,464 | ||
Held-to-maturity securities, Total, Unrecognized Losses | 41,483 | 26,559 | ||
Residential Mortgage Backed Securities [Member] | U.S. Olbigation MBS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Less Than 12 Months, Fair Value | 25,814 | [1] | ' | |
Held-to-maturity securities, Less Than 12 Months, Unrecognized Losses | 14 | [1] | ' | |
Held-to-maturity securities, 12 Months or More, Fair Value | 0 | [1] | ' | |
Held-to-maturity securities, 12 Months or More, Unrecognized Losses | 0 | [1] | ' | |
Held-to-maturity securities, Total, Fair Value | 25,814 | [1] | ' | |
Held-to-maturity securities, Total, Unrecognized Losses | 14 | [1],[2] | 0 | [1] |
Residential Mortgage Backed Securities [Member] | Government-sponsored enterprise MBS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Less Than 12 Months, Fair Value | 2,099,923 | [3] | 338,126 | [3] |
Held-to-maturity securities, Less Than 12 Months, Unrecognized Losses | 16,699 | [3] | 829 | [3] |
Held-to-maturity securities, 12 Months or More, Fair Value | 384,530 | [3] | 126,814 | [3] |
Held-to-maturity securities, 12 Months or More, Unrecognized Losses | 10,409 | [3] | 205 | [3] |
Held-to-maturity securities, Total, Fair Value | 2,484,453 | [3] | 464,940 | [3] |
Held-to-maturity securities, Total, Unrecognized Losses | 27,108 | [3] | 1,034 | [3] |
Residential Mortgage Backed Securities [Member] | Private-Label Mortgage-Backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Less Than 12 Months, Fair Value | 21,053 | 5,830 | ||
Held-to-maturity securities, Less Than 12 Months, Unrecognized Losses | 109 | 8 | ||
Held-to-maturity securities, 12 Months or More, Fair Value | 175,474 | 246,641 | ||
Held-to-maturity securities, 12 Months or More, Unrecognized Losses | 14,252 | 25,514 | ||
Held-to-maturity securities, Total, Fair Value | 196,527 | 252,471 | ||
Held-to-maturity securities, Total, Unrecognized Losses | 14,361 | 25,522 | ||
Private-label Home Equity Loan ABS [Member] | Private-Label Mortgage-Backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Less Than 12 Months, Fair Value | ' | 0 | ||
Held-to-maturity securities, Less Than 12 Months, Unrecognized Losses | ' | 0 | ||
Held-to-maturity securities, 12 Months or More, Fair Value | ' | 53 | ||
Held-to-maturity securities, 12 Months or More, Unrecognized Losses | ' | 3 | ||
Held-to-maturity securities, Total, Fair Value | ' | 53 | ||
Held-to-maturity securities, Total, Unrecognized Losses | $0 | $3 | ||
[1] | Represents MBS issued by GinnieB Mae, which are guaranteed by the U.S. government. | |||
[2] | Represents MBS issued by Government National Mortgage Association (GinnieB Mae), which are guaranteed by the U.S. government. | |||
[3] | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. |
Investment_Securities_HeldToMa1
Investment Securities (Held-To-Maturity Securities Classified By Contractual Maturity Date) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Amortized Cost | $5,439,662 | $5,180,596 | ||
Held-to-maturity securities, Carrying Value | 5,423,659 | [1] | 5,159,750 | [1] |
Held-to-maturity securities, Fair Value | 5,415,205 | 5,192,330 | ||
Non-mortgage-backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Due in one year or less, Amortized Cost | 0 | 0 | ||
Held-to-maturity securities, Due after one year through five years, Amortized Cost | 0 | 0 | ||
Held-to-maturity securities, Due after five years through 10 years, Amortized Cost | 21,240 | 22,780 | ||
Held-to-maturity securities, Due after 10 years, Amortized Cost | 42,232 | 46,662 | ||
Held-to-maturity securities, Amortized Cost | 63,472 | 69,442 | ||
Held-to-maturity securities, Due in one year or less, Carrying Value | 0 | 0 | ||
Held-to-maturity securities, Due after one year through five years, Carrying Value | 0 | 0 | ||
Held-to-maturity securities, Due after five years through 10 years, Carrying Value | 21,240 | 22,780 | ||
Held-to-maturity securities, Due after 10 years, Carrying Value | 42,232 | 46,662 | ||
Held-to-maturity securities, Carrying Value | 63,472 | 69,442 | ||
Held-to-maturity securities, Due in one year or less, Fair Value | 0 | 0 | ||
Held-to-maturity securities, Due after one year through five years, Fair Value | 0 | 0 | ||
Held-to-maturity securities, Due after five years through 10 years, Fair Value | 19,582 | 20,741 | ||
Held-to-maturity securities, Due after 10 years, Fair Value | 35,290 | 40,185 | ||
Held-to-maturity securities, Fair Value | 54,872 | 60,926 | ||
Mortgage-Backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Amortized Cost | 5,376,190 | 5,111,154 | ||
Held-to-maturity securities, Carrying Value | 5,360,187 | 5,090,308 | ||
Held-to-maturity securities, Fair Value | $5,360,333 | $5,131,404 | ||
[1] | Fair value:B $5,415,205 and $5,192,330 as of December 31, 2013 and 2012, respectively. |
Investment_Securities_Summary_1
Investment Securities (Summary Of Held-To-Maturity Securities At Amortized Cost By Interest Rate Payment Terms) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | $5,439,662 | $5,180,596 |
Non-mortgage-backed Securities [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | 63,472 | 69,442 |
Non-mortgage-backed Securities [Member] | Fixed Rate [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | 12,232 | 16,662 |
Non-mortgage-backed Securities [Member] | Simple variable rate [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | 51,240 | 52,780 |
Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | 5,376,190 | 5,111,154 |
Mortgage Passthrough Securities [Member] | Fixed Rate [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | 78 | 170 |
Mortgage Passthrough Securities [Member] | Simple variable rate [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | 1,298,146 | 595,078 |
Collateralized Mortgage Obligations [Member] | Fixed Rate [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | 541,126 | 687,770 |
Collateralized Mortgage Obligations [Member] | Simple variable rate [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | $3,536,840 | $3,828,136 |
Investment_Securities_Summary_2
Investment Securities (Summary Of Net Gains (Losses) On Trading Securities) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Investment Securities [Abstract] | ' | ' | ' |
Net unrealized gains (losses) on trading securities held as of current period end | ($50,468) | ($16,651) | $37,768 |
Net unrealized and realized gains (losses) on trading securities sold or matured prior to current period end | -517 | -11,397 | -16,996 |
NET GAINS (LOSS) ON TRADING SECURITIES | ($50,985) | ($28,048) | $20,772 |
Investment_Securities_Schedule
Investment Securities (Schedule Of Projected Home Price Recovery By Year) (Details) | Dec. 31, 2013 |
Minimum [Member] | ' |
Schedule Of Housing Market Value Recovery Rates [Line Items] | ' |
6-Jan | 0.00% |
12-Jul | 1.00% |
13 - 18 | 2.00% |
19 - 30 | 2.00% |
31 -54 | 2.00% |
Thereafter | 2.30% |
Maximum [Member] | ' |
Schedule Of Housing Market Value Recovery Rates [Line Items] | ' |
6-Jan | 3.00% |
12-Jul | 4.00% |
13 - 18 | 4.00% |
19 - 30 | 5.00% |
31 -54 | 6.00% |
Thereafter | 5.60% |
Investment_Securities_Weighted
Investment Securities (Weighted Average Dollar Rates Of Mortgage-Backed Securities Investments) (Details) (Weighted Average [Member], Private-Label Mortgage-Backed Securities [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
Residential Mortgage Backed Securities [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Significant Inputs, Prepayment Rate | 9.70% |
Significant Inputs, Default Rate | 15.70% |
Significant Inputs, Loss Severity | 36.00% |
Current Credit Enhancements | 6.90% |
Prime [Member] | Residential Mortgage Backed Securities [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Significant Inputs, Prepayment Rate | 10.10% |
Significant Inputs, Default Rate | 10.10% |
Significant Inputs, Loss Severity | 29.60% |
Current Credit Enhancements | 5.70% |
Prime [Member] | Residential Mortgage Backed Securities [Member] | Securitization In 2004 And Earlier [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Significant Inputs, Prepayment Rate | 10.90% |
Significant Inputs, Default Rate | 8.30% |
Significant Inputs, Loss Severity | 23.60% |
Current Credit Enhancements | 9.30% |
Prime [Member] | Residential Mortgage Backed Securities [Member] | Securitization In 2005 [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Significant Inputs, Prepayment Rate | 10.60% |
Significant Inputs, Default Rate | 11.30% |
Significant Inputs, Loss Severity | 33.30% |
Current Credit Enhancements | 3.50% |
Prime [Member] | Residential Mortgage Backed Securities [Member] | Securitization In 2006 [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Significant Inputs, Prepayment Rate | 8.20% |
Significant Inputs, Default Rate | 12.10% |
Significant Inputs, Loss Severity | 36.90% |
Current Credit Enhancements | 1.10% |
Subprime [Member] | Private-label Home Equity Loan ABS [Member] | Securitization In 2004 And Earlier [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Significant Inputs, Prepayment Rate | 3.10% |
Significant Inputs, Default Rate | 7.30% |
Significant Inputs, Loss Severity | 93.30% |
Current Credit Enhancements | 4.30% |
Alt-A [Member] | Residential Mortgage Backed Securities [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Significant Inputs, Prepayment Rate | 9.60% |
Significant Inputs, Default Rate | 17.60% |
Significant Inputs, Loss Severity | 38.20% |
Current Credit Enhancements | 7.30% |
Alt-A [Member] | Residential Mortgage Backed Securities [Member] | Securitization In 2004 And Earlier [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Significant Inputs, Prepayment Rate | 9.90% |
Significant Inputs, Default Rate | 16.20% |
Significant Inputs, Loss Severity | 37.50% |
Current Credit Enhancements | 10.60% |
Alt-A [Member] | Residential Mortgage Backed Securities [Member] | Securitization In 2005 [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Significant Inputs, Prepayment Rate | 9.40% |
Significant Inputs, Default Rate | 18.70% |
Significant Inputs, Loss Severity | 38.70% |
Current Credit Enhancements | 4.80% |
Investment_Securities_Other_Th
Investment Securities (Other Than Temporary Impairment, Charges Recognized In Income) (Details) (Private-Label Mortgage-Backed Securities [Member], USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | $92,182 |
Other Than Temporarily Impaired Securities, Amortized Cost | 82,827 |
Other Than Temporarily Impaired Securities, Carrying Value | 66,824 |
Other Than Temporarily Impaired Securities, Fair Value | 79,366 |
Residential Mortgage Backed Securities [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 88,834 |
Other Than Temporarily Impaired Securities, Amortized Cost | 81,421 |
Other Than Temporarily Impaired Securities, Carrying Value | 65,596 |
Other Than Temporarily Impaired Securities, Fair Value | 76,599 |
Prime [Member] | Residential Mortgage Backed Securities [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 17,370 |
Other Than Temporarily Impaired Securities, Amortized Cost | 16,445 |
Other Than Temporarily Impaired Securities, Carrying Value | 15,072 |
Other Than Temporarily Impaired Securities, Fair Value | 16,406 |
Subprime [Member] | Private-label Home Equity Loan ABS [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 3,348 |
Other Than Temporarily Impaired Securities, Amortized Cost | 1,406 |
Other Than Temporarily Impaired Securities, Carrying Value | 1,228 |
Other Than Temporarily Impaired Securities, Fair Value | 2,767 |
Alt-A [Member] | Residential Mortgage Backed Securities [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 71,464 |
Other Than Temporarily Impaired Securities, Amortized Cost | 64,976 |
Other Than Temporarily Impaired Securities, Carrying Value | 50,524 |
Other Than Temporarily Impaired Securities, Fair Value | $60,193 |
Investment_Securities_RollForw
Investment Securities (Roll-Forward Of OTTI, Credit Losses Recognized In Earnings, OTTI And Other Factors Recognized In OCI) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Investment Securities [Abstract] | ' | ' | ' | |||
Balance, beginning of period | $11,291 | $10,342 | $5,938 | |||
Additional charge on securities for which OTTI was not previously recognized | 0 | [1] | 271 | [1] | 1,219 | [1] |
Additional charge on securities for which OTTI was previously recognized | 530 | [1] | 1,389 | [1] | 3,492 | [1] |
Amortization of credit component of OTTI | -1,904 | [2] | -711 | [2] | -307 | [2] |
Balance, end of period | $9,917 | $11,291 | $10,342 | |||
[1] | For the years ended December 31, 2013, 2012, and 2011, securities previously impaired represent all securities that were impaired prior to January 1, 2013, 2012 and 2011, respectively. | |||||
[2] | The FHLBank amortizes the credit component based on estimated cash flows prospectively up to the amount of expected principal to be recovered. The discounted cash flows will move from the discounted loss value to the ultimate principal to be written off at the projected date of loss. If the expected cash flows improve, the amount of expected loss decreases which causes a corresponding decrease in the calculated amortization. Based on the level of improvement in the cash flows, the amortization could become a positive adjustment to income. |
Advances_Narrative_Details
Advances (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
Callable Federal Home Loan Bank advances | $5,056,133 | $5,429,171 | ' |
Convertible Federal Home Loan Bank advances | 1,685,242 | 2,079,092 | ' |
Federal Home Loan Bank Advances | 17,425,487 | 16,573,348 | ' |
Income from advances | 124,332 | 148,032 | 154,536 |
Credit Concentration Risk [Member] | Advances [Member] | Commercial Banks [Member] | ' | ' | ' |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
Concentration Risk, Percentage | 41.10% | ' | ' |
Credit Concentration Risk [Member] | Advances [Member] | Thrifts [Member] | ' | ' | ' |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
Concentration Risk, Percentage | 35.10% | ' | ' |
Credit Concentration Risk [Member] | Advances [Member] | Insurance Companies [Member] | ' | ' | ' |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
Concentration Risk, Percentage | 18.30% | ' | ' |
Federal Home Loan Bank, Advances, Variable Rate [Member] | ' | ' | ' |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
Callable Federal Home Loan Bank advances | 4,932,869 | 5,300,793 | ' |
Minimum [Member] | ' | ' | ' |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
FHLB advances, outstanding interest rate | 0.11% | 0.12% | ' |
Minimum [Member] | Federal Home Loan Bank, Advances, Fixed Rate [Member] | ' | ' | ' |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
Advances to member banks, maturity period | '3 days | ' | ' |
Minimum [Member] | Federal Home Loan Bank, Advances, Variable Rate [Member] | ' | ' | ' |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
Advances to member banks, maturity period | '1 day | ' | ' |
Maximum [Member] | ' | ' | ' |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
FHLB advances, outstanding interest rate | 8.01% | 8.01% | ' |
Maximum [Member] | Federal Home Loan Bank, Advances, Fixed Rate [Member] | ' | ' | ' |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
Advances to member banks, maturity period | '30 years | ' | ' |
Maximum [Member] | Federal Home Loan Bank, Advances, Variable Rate [Member] | ' | ' | ' |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
Advances to member banks, maturity period | '30 years | ' | ' |
Ten Percent Owner [Member] | ' | ' | ' |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
Concentration Risk, Count | 2 | 2 | ' |
Federal Home Loan Bank Advances | 5,245,000 | 5,448,000 | ' |
Ten Percent Owner [Member] | Advances [Member] | ' | ' | ' |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
Concentration Risk, Percentage | 10.00% | 10.00% | ' |
Ten Percent Owner [Member] | Credit Concentration Risk [Member] | Advances [Member] | ' | ' | ' |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
Concentration Risk, Percentage | 30.50% | 33.80% | ' |
Federal Home Loan Bank Advances | 5,245,000 | 5,448,000 | ' |
Ten Percent Owner [Member] | Customer Concentration Risk [Member] | Interest Income, Federal Home Loan Bank Advances [Member] | ' | ' | ' |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
Income from advances | 68,076 | 77,517 | ' |
MidFirst Bank [Member] | ' | ' | ' |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
Federal Home Loan Bank Advances | 2,720,000 | 2,898,000 | ' |
Capitol Federal Savings Bank [Member] | ' | ' | ' |
Federal Home Loan Bank Advance Line [Items] | ' | ' | ' |
Federal Home Loan Bank Advances | $2,525,000 | $2,550,000 | ' |
Advances_Schedule_Of_Federal_H
Advances (Schedule Of Federal Home Loan Bank Advances By Year Of Contractual Maturity) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Advances [Abstract] | ' | ' | ||
Due in one year or less, Amount | $5,431,364 | $3,433,058 | ||
Due after one year through two years, Amount | 1,643,200 | 1,454,725 | ||
Due after two years through three years, Amount | 1,650,222 | 1,691,471 | ||
Due after three years through four years, Amount | 2,353,661 | 1,757,905 | ||
Due after four years through five years, Amount | 1,302,199 | 2,529,511 | ||
Thereafter, Amount | 4,812,973 | 5,241,927 | ||
TOTAL PAR VALUE | 17,193,619 | 16,108,597 | ||
Discounts | -36,782 | -29,767 | ||
Hedging adjustments | 268,650 | [1] | 494,518 | [1] |
TOTAL | $17,425,487 | $16,573,348 | ||
Due in one year or less, Weighted Average Interest Rate | 0.77% | 1.11% | ||
Due after one year through two years, Weighted Average Interest Rate | 1.77% | 2.39% | ||
Due after two years through three years, Weighted Average Interest Rate | 1.98% | 1.88% | ||
Due after three years through four years, Weighted Average Interest Rate | 2.59% | 1.99% | ||
Due after four years through five years, Weighted Average Interest Rate | 2.42% | 2.84% | ||
Thereafter, Weighted Average Interest Rate | 1.09% | 1.36% | ||
Total par value, Weighted Average Interest Rate | 1.45% | 1.76% | ||
[1] | See Note 8 for a discussion of: (1) the FHLBankbs objectives for using derivatives; (2) the types of assets and liabilities hedged; and (3) the accounting for derivatives and the related assets and liabilities hedged. |
Advances_Schedule_Of_Federal_H1
Advances (Schedule Of Federal Home Loan Bank Advances By Contractual Maturity Or Next Call Date And By Contractual Maturity Or Next Conversion Date) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Advances [Abstract] | ' | ' |
Due in one year or less, Callable | $10,172,524 | $8,483,653 |
Due after one year through two years, Callable | 1,392,527 | 1,335,481 |
Due after two years through three years, Callable | 1,175,623 | 1,346,362 |
Due after three years through four years, Callable | 1,856,012 | 1,094,410 |
Due after four years through five years, Callable | 1,062,253 | 2,033,422 |
Thereafter, Callable | 1,534,680 | 1,815,269 |
Due in one year or less, Convertible | 7,038,106 | 5,430,875 |
Due after one year through two years, Convertible | 1,555,100 | 1,412,850 |
Due after two years through three years, Convertible | 1,528,722 | 1,593,371 |
Due after three years through four years, Convertible | 1,381,719 | 1,606,405 |
Due after four years through five years, Convertible | 979,999 | 1,534,569 |
Thereafter, Convertible | 4,709,973 | 4,530,527 |
TOTAL PAR VALUE | $17,193,619 | $16,108,597 |
Advances_Schedule_Of_Federal_H2
Advances (Schedule Of Federal Home Loan Bank Advances By Interest Rate Payment Terms) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Advances [Abstract] | ' | ' |
Due in one year or less, Fixed Rate | $1,733,559 | $1,301,041 |
Due after one year, Fixed Rate | 6,923,555 | 7,495,446 |
Total fixed rate | 8,657,114 | 8,796,487 |
Due in one year or less, Variable Rate | 3,697,805 | 2,132,017 |
Due after one year, Variable Rate | 4,838,700 | 5,180,093 |
Total variable rate | 8,536,505 | 7,312,110 |
TOTAL PAR VALUE | $17,193,619 | $16,108,597 |
Mortgage_Loans_Schedule_Of_Mor
Mortgage Loans (Schedule Of Mortgage Loans Sold) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Mortgage Loans [Abstract] | ' | ' | ' |
Net Proceeds | ' | ' | $111,444 |
Cost basis | ' | ' | -107,019 |
NET REALIZED GAIN (LOSS) ON SALE OF MORTGAGE LOANS HELD FOR SALE | $0 | $0 | $4,425 |
Mortgage_Loans_Schedule_Of_Mor1
Mortgage Loans (Schedule Of Mortgage Loans Held For Portfolio) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Mortgage Loans on Real Estate [Line Items] | ' | ' | ||
Total unpaid principal balance | $5,856,640 | $5,837,746 | ||
Premiums | 95,755 | 98,887 | ||
Discounts | -3,659 | -4,483 | ||
Deferred loan costs, net | 1,087 | 1,549 | ||
Other deferred fees | -212 | -312 | ||
Hedging adjustments | 6,617 | [1] | 12,546 | [1] |
Total before Allowance for Credit Losses on Mortgage Loans | 5,956,228 | 5,945,933 | ||
Allowance for Credit Losses on Mortgage Loans | -6,748 | -5,416 | ||
Mortgage loans held for portfolio, net | 5,949,480 | 5,940,517 | ||
Loans Receivable With Fixed Rates Of Interest Medium Term [Member] | ' | ' | ||
Mortgage Loans on Real Estate [Line Items] | ' | ' | ||
Total unpaid principal balance | 1,611,289 | [2] | 1,711,275 | [2] |
Loans Receivable With Fixed Rates Of Interest Long Term [Member] | ' | ' | ||
Mortgage Loans on Real Estate [Line Items] | ' | ' | ||
Total unpaid principal balance | $4,245,351 | $4,126,471 | ||
[1] | See Note 8 for a discussion of: (1) the FHLBankbs objectives for using derivatives; (2) the types of assets and liabilities hedged; and (3) the accounting for derivatives and the related assets and liabilities hedged. | |||
[2] | Medium-term defined as a term of 15 years or less at origination. |
Mortgage_Loans_Schedule_Of_Out
Mortgage Loans (Schedule Of Outstanding Unpaid Principal Balance Of Mortgage Loans Held For Portfolio) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Mortgage Loans [Line Items] | ' | ' |
Total unpaid principal balance | $5,856,640 | $5,837,746 |
Conventional Loans [Member] | ' | ' |
Mortgage Loans [Line Items] | ' | ' |
Total unpaid principal balance | 5,212,048 | 5,152,461 |
Government-Guaranteed Or Insured Loans [Member] | ' | ' |
Mortgage Loans [Line Items] | ' | ' |
Total unpaid principal balance | $644,592 | $685,285 |
Allowance_For_Credit_Losses_Na
Allowance For Credit Losses (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
FHLBank's exposure under the FLA | $33,468 | $30,313 |
CE obligations available to cover losses | 370,654 | 312,994 |
Allowance reduction in FLA | 2,587 | 2,113 |
Real estate owned | 4,307 | 3,915 |
Government-Guaranteed Or Insured Loans [Member] | ' | ' |
Non-Accrual Status | $0 | $0 |
Allowance_For_Credit_Losses_Sc
Allowance For Credit Losses (Schedule Of Net Credit Enhancement Fees Paid To Participating Members) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance For Credit Losses [Abstract] | ' | ' | ' |
CE fees paid to PFIs | $4,861 | $4,396 | $3,744 |
Performance-based CE fees recovered from PFIs | -157 | -179 | -199 |
Net CE fees paid | $4,704 | $4,217 | $3,545 |
Allowance_For_Credit_Losses_Al
Allowance For Credit Losses (Allowance For Credit Losses On Financing Receivables) (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ||
Balance, beginning of period | $5,416 | $3,473 | ' | ||
Charge-offs | -594 | -553 | ' | ||
Provision for credit losses on mortgage loans | 1,926 | 2,496 | 1,058 | ||
Balance, end of period | 6,748 | 5,416 | 3,473 | ||
Individually evaluated for impairment, Allowance for credit losses | 0 | 0 | ' | ||
Collectively evaluated for impairment, Allowance for credit losses | 6,748 | 5,416 | ' | ||
Individually evaluated for impairment, Recorded investment | 17,469,977 | [1],[2] | 16,622,736 | [1],[2] | ' |
Collectively evaluated for impairment, Recorded investment | 5,985,425 | [1] | 5,975,392 | [1] | ' |
Conventional Loans [Member] | ' | ' | ' | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ||
Balance, beginning of period | 5,416 | 3,473 | ' | ||
Charge-offs | -594 | -553 | ' | ||
Provision for credit losses on mortgage loans | 1,926 | 2,496 | ' | ||
Balance, end of period | 6,748 | 5,416 | ' | ||
Individually evaluated for impairment, Allowance for credit losses | 0 | 0 | ' | ||
Collectively evaluated for impairment, Allowance for credit losses | 6,748 | 5,416 | ' | ||
Individually evaluated for impairment, Recorded investment | 0 | [1],[2] | 0 | [1],[2] | ' |
Collectively evaluated for impairment, Recorded investment | 5,323,049 | [1] | 5,270,183 | [1] | ' |
Government-Guaranteed Or Insured Loans [Member] | ' | ' | ' | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ||
Balance, beginning of period | 0 | 0 | ' | ||
Charge-offs | 0 | 0 | ' | ||
Provision for credit losses on mortgage loans | 0 | 0 | ' | ||
Balance, end of period | 0 | 0 | ' | ||
Individually evaluated for impairment, Allowance for credit losses | 0 | 0 | ' | ||
Collectively evaluated for impairment, Allowance for credit losses | 0 | 0 | ' | ||
Individually evaluated for impairment, Recorded investment | 0 | [1],[2] | 0 | [1],[2] | ' |
Collectively evaluated for impairment, Recorded investment | 662,376 | [1] | 705,209 | [1] | ' |
Credit Products [Member] | ' | ' | ' | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ||
Balance, beginning of period | 0 | [3] | 0 | [3] | ' |
Charge-offs | 0 | [3] | 0 | [3] | ' |
Provision for credit losses on mortgage loans | 0 | [3] | 0 | [3] | ' |
Balance, end of period | 0 | [3] | 0 | [3] | ' |
Individually evaluated for impairment, Allowance for credit losses | 0 | [3] | 0 | [3] | ' |
Collectively evaluated for impairment, Allowance for credit losses | 0 | [3] | 0 | [3] | ' |
Individually evaluated for impairment, Recorded investment | 17,446,437 | [1],[2],[3] | 16,597,209 | [1],[2],[3] | ' |
Collectively evaluated for impairment, Recorded investment | 0 | [1],[3] | 0 | [1],[3] | ' |
Direct Financing Lease Receivable [Member] | ' | ' | ' | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ||
Balance, beginning of period | 0 | 0 | ' | ||
Charge-offs | 0 | 0 | ' | ||
Provision for credit losses on mortgage loans | 0 | 0 | ' | ||
Balance, end of period | 0 | 0 | ' | ||
Individually evaluated for impairment, Allowance for credit losses | 0 | 0 | ' | ||
Collectively evaluated for impairment, Allowance for credit losses | 0 | 0 | ' | ||
Individually evaluated for impairment, Recorded investment | 23,540 | [1],[2] | 25,527 | [1],[2] | ' |
Collectively evaluated for impairment, Recorded investment | $0 | [1] | $0 | [1] | ' |
[1] | The recorded investment in a financing receivable is the UPB, adjusted for accrued interest, net deferred loan fees or costs, unamortized premiums or discounts, fair value hedging adjustments and direct write-downs. The recorded investment is not net of any valuation allowance. | ||||
[2] | No financing receivables individually evaluated for impairment were determined to be impaired. | ||||
[3] | The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. |
Allowance_For_Credit_Losses_Su
Allowance For Credit Losses (Summary Of Delinquency Aging And Key Quality Indicators Of Federal Home Loan Bank's Portfolio Segments) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Past due 30-59 days delinquent | $53,258 | [1] | $41,944 | [1] |
Past due 60-89 days delinquent | 13,545 | [1] | 13,803 | [1] |
Past due 90 days or more delinquent | 26,760 | [1] | 29,753 | [1] |
Total past due | 93,563 | [1] | 85,500 | [1] |
Total current loans | 23,361,839 | [1] | 22,512,628 | [1] |
Total recorded investment | 23,455,402 | [1] | 22,598,128 | [1] |
In process of foreclosure, included above | 10,633 | [2] | 14,678 | [2] |
Serious delinquency rate | 0.10% | [3] | 0.10% | [3] |
Past due 90 days or more still accruing interest | 8,720 | 8,177 | ||
Loans on non-accrual status | 21,294 | [4] | 25,300 | [5] |
Troubled debt restructurings included in non-accrual loans | 1,515 | 1,286 | ||
Conventional Loans [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Past due 30-59 days delinquent | 31,653 | [1] | 24,954 | [1] |
Past due 60-89 days delinquent | 7,873 | [1] | 8,016 | [1] |
Past due 90 days or more delinquent | 18,040 | [1] | 21,576 | [1] |
Total past due | 57,566 | [1] | 54,546 | [1] |
Total current loans | 5,265,483 | [1] | 5,215,637 | [1] |
Total recorded investment | 5,323,049 | [1] | 5,270,183 | [1] |
In process of foreclosure, included above | 7,665 | [2] | 11,593 | [2] |
Serious delinquency rate | 0.40% | [3] | 0.40% | [3] |
Past due 90 days or more still accruing interest | 0 | 0 | ||
Loans on non-accrual status | 21,294 | [4] | 25,300 | [5] |
Government-Guaranteed Or Insured Loans [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Past due 30-59 days delinquent | 21,605 | [1] | 16,990 | [1] |
Past due 60-89 days delinquent | 5,672 | [1] | 5,787 | [1] |
Past due 90 days or more delinquent | 8,720 | [1] | 8,177 | [1] |
Total past due | 35,997 | [1] | 30,954 | [1] |
Total current loans | 626,379 | [1] | 674,255 | [1] |
Total recorded investment | 662,376 | [1] | 705,209 | [1] |
In process of foreclosure, included above | 2,968 | [2] | 3,085 | [2] |
Serious delinquency rate | 1.30% | [3] | 1.20% | [3] |
Past due 90 days or more still accruing interest | 8,720 | 8,177 | ||
Loans on non-accrual status | 0 | [4] | 0 | [5] |
Credit Products [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Past due 30-59 days delinquent | 0 | [1],[6] | 0 | [1],[6] |
Past due 60-89 days delinquent | 0 | [1],[6] | 0 | [1],[6] |
Past due 90 days or more delinquent | 0 | [1],[6] | 0 | [1],[6] |
Total past due | 0 | [1],[6] | 0 | [1],[6] |
Total current loans | 17,446,437 | [1],[6] | 16,597,209 | [1],[6] |
Total recorded investment | 17,446,437 | [1],[6] | 16,597,209 | [1],[6] |
In process of foreclosure, included above | 0 | [2],[6] | 0 | [2],[6] |
Serious delinquency rate | 0.00% | [3],[6] | 0.00% | [3],[6] |
Past due 90 days or more still accruing interest | 0 | [6] | 0 | [6] |
Loans on non-accrual status | 0 | [4],[6] | 0 | [5],[6] |
Direct Financing Lease Receivable [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Past due 30-59 days delinquent | 0 | [1] | 0 | [1] |
Past due 60-89 days delinquent | 0 | [1] | 0 | [1] |
Past due 90 days or more delinquent | 0 | [1] | 0 | [1] |
Total past due | 0 | [1] | 0 | [1] |
Total current loans | 23,540 | [1] | 25,527 | [1] |
Total recorded investment | 23,540 | [1] | 25,527 | [1] |
In process of foreclosure, included above | 0 | [2] | 0 | [2] |
Serious delinquency rate | 0.00% | [3] | 0.00% | [3] |
Past due 90 days or more still accruing interest | 0 | 0 | ||
Loans on non-accrual status | $0 | [4] | $0 | [5] |
[1] | The recorded investment in a financing receivable is the UPB, adjusted for accrued interest, net deferred loan fees or costs, unamortized premiums or discounts, fair value hedging adjustments and direct write-downs. The recorded investment is not net of any valuation allowance. | |||
[2] | Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu has been reported. Loans in process of foreclosure are included in past due or current loans dependent on their delinquency status. | |||
[3] | Loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the total recorded investment for the portfolio class. | |||
[4] | Loans on non-accrual status include $1,515,000 of troubled debt restructurings. Troubled debt restructurings are restructurings in which the FHLBank, for economic or legal reasons related to the debtorbs financial difficulties, grants a concession to the debtor that it would not otherwise consider. | |||
[5] | Loans on non-accrual status include $1,286,000 of troubled debt restructurings. Troubled debt restructurings are restructurings in which the FHLBank, for economic or legal reasons related to the debtorbs financial difficulties, grants a concession to the debtor that it would not otherwise consider. | |||
[6] | The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. |
Derivatives_And_Hedging_Activi3
Derivatives And Hedging Activities (Narrative) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative [Line Items] | ' | ' |
Derivative instruments with credit-risk-related contingent features, aggregate fair value | $308,776 | $460,626 |
Derivative instruments with credit-risk-related contingent features, collateral already posted | 200,815 | 337,369 |
Derivative instruments with credit-risk-related contingent features, collateral to be posted if credit rating is lowered one level | 77,830 | 93,770 |
Counterparty One [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Maximum credit risk applicable to a single counterparty | $21,045 | $28,512 |
Derivatives_And_Hedging_Activi4
Derivatives And Hedging Activities (Outstanding Notional Balances And Fair Values Of Derivatives Outstanding By Type Of Derivative And By Hedge Of Designation) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative, Notional Amount | $18,917,471 | $24,392,632 | ||
Derivative assets | 27,957 | 25,166 | ||
Derivative liabilities | 108,353 | 123,414 | ||
Derivative Assets Member | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivatives Assets, Gross | 172,806 | 256,379 | ||
Netting adjustments, Derivative Assets | -161,161 | [1] | -204,209 | [1] |
Fair value of cash collateral received from counterparties | ' | -27,004 | [2] | |
Fair value of cash collateral delivered to counterparties | 16,312 | [2] | ' | |
Derivative assets | 27,957 | 25,166 | ||
Derivative Liabilities Member | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liabilities, Gross | 470,329 | 664,992 | ||
Netting adjustments, Derivative Liabilities | -161,161 | [1] | -204,209 | [1] |
Fair value of cash collateral delivered to counterparties | -200,815 | [2] | -337,369 | [2] |
Derivative liabilities | 108,353 | 123,414 | ||
Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative, Notional Amount | 10,532,231 | 12,607,157 | ||
Designated as Hedging Instrument [Member] | Derivative Assets Member | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivatives Assets, Gross | 127,059 | 218,909 | ||
Designated as Hedging Instrument [Member] | Derivative Liabilities Member | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liabilities, Gross | 349,771 | 497,944 | ||
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative, Notional Amount | 10,285,231 | 12,360,157 | ||
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Derivative Assets Member | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivatives Assets, Gross | 127,059 | 218,909 | ||
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Derivative Liabilities Member | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liabilities, Gross | 347,123 | 493,515 | ||
Designated as Hedging Instrument [Member] | Interest Rate Caps And Floors [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative, Notional Amount | 247,000 | 247,000 | ||
Designated as Hedging Instrument [Member] | Interest Rate Caps And Floors [Member] | Derivative Assets Member | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivatives Assets, Gross | 0 | 0 | ||
Designated as Hedging Instrument [Member] | Interest Rate Caps And Floors [Member] | Derivative Liabilities Member | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liabilities, Gross | 2,648 | 4,429 | ||
Not Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative, Notional Amount | 8,385,240 | 11,785,475 | ||
Not Designated as Hedging Instrument [Member] | Derivative Assets Member | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivatives Assets, Gross | 45,747 | 37,470 | ||
Not Designated as Hedging Instrument [Member] | Derivative Liabilities Member | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liabilities, Gross | 120,558 | 167,048 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative, Notional Amount | 3,691,820 | 5,806,320 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Derivative Assets Member | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivatives Assets, Gross | 4,260 | 7,607 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Derivative Liabilities Member | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liabilities, Gross | 120,166 | 166,890 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Caps And Floors [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative, Notional Amount | 4,627,800 | 5,872,800 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Caps And Floors [Member] | Derivative Assets Member | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivatives Assets, Gross | 41,463 | 29,761 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Caps And Floors [Member] | Derivative Liabilities Member | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liabilities, Gross | 103 | 62 | ||
Not Designated as Hedging Instrument [Member] | Mortgage Delivery Commitments [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative, Notional Amount | 65,620 | 106,355 | ||
Not Designated as Hedging Instrument [Member] | Mortgage Delivery Commitments [Member] | Derivative Assets Member | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivatives Assets, Gross | 24 | 102 | ||
Not Designated as Hedging Instrument [Member] | Mortgage Delivery Commitments [Member] | Derivative Liabilities Member | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liabilities, Gross | $289 | $96 | ||
[1] | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions and also cash collateral, including initial or variation margin, and related accrued interest held or placed with the same clearing agent and/or derivative counterparty. | |||
[2] | Exposure can change on a daily basis; and thus, there is often a short lag time between the date the exposure is identified, collateral is requested and collateral is actually received. Likewise, there is a lag time for excess collateral to be returned. |
Derivatives_And_Hedging_Activi5
Derivatives And Hedging Activities (Net Gains Or Losses On Derivatives And Hedging Activities) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Net gain (loss) related to fair value hedge ineffectiveness | ($2,334) | $2,792 | $2,064 |
Net gain (loss) related to derivatives not designated as hedging instruments | 12,441 | -24,270 | -110,807 |
Net gains (losses) on derivatives and hedging activities | 10,107 | -21,478 | -108,743 |
Interest Rate Swaps [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Net gain (loss) related to fair value hedge ineffectiveness | -2,334 | 2,792 | 2,122 |
Net gain (loss) related to derivatives not designated as hedging instruments | 43,347 | 27,428 | -9,870 |
Interest Rate Caps And Floors [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Net gain (loss) related to fair value hedge ineffectiveness | 0 | 0 | -58 |
Net gain (loss) related to derivatives not designated as hedging instruments | 11,682 | -24,032 | -70,577 |
Net Interest Settlements [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Net gain (loss) related to derivatives not designated as hedging instruments | -38,519 | -35,174 | -40,489 |
Mortgage Delivery Commitments [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Net gain (loss) related to derivatives not designated as hedging instruments | -4,052 | 7,509 | 10,146 |
Intermediary Transactions Interest Rate Swaps [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Net gain (loss) related to derivatives not designated as hedging instruments | -17 | -1 | -29 |
Intermediary Transactions Interest Rate Caps And Floors [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Net gain (loss) related to derivatives not designated as hedging instruments | $0 | $0 | $12 |
Derivatives_And_Hedging_Activi6
Derivatives And Hedging Activities (Net Gains Or Losses On Derivatives And Other Hedge Items And Impact Of These To Net Interest Income) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |||
Gain (Loss) on Derivatives | $27,721 | ($19,753) | ($93,359) | |||
Gain (Loss) on Hedged Items | -30,055 | 22,545 | 95,423 | |||
Net Fair Value Hedge Ineffectiveness | -2,334 | 2,792 | 2,064 | |||
Effect of Derivatives on Net Interest Income | -57,034 | [1] | -43,993 | [1] | -21,320 | [1] |
Advances [Member] | ' | ' | ' | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |||
Gain (Loss) on Derivatives | 186,662 | 44,010 | -113,640 | |||
Gain (Loss) on Hedged Items | -183,314 | -45,836 | 111,609 | |||
Net Fair Value Hedge Ineffectiveness | 3,348 | -1,826 | -2,031 | |||
Effect of Derivatives on Net Interest Income | -158,751 | [1] | -186,360 | [1] | -234,817 | [1] |
Consolidated Obligations, Bonds [Member] | ' | ' | ' | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |||
Gain (Loss) on Derivatives | -158,941 | -63,877 | 21,401 | |||
Gain (Loss) on Hedged Items | 153,259 | 68,515 | -16,970 | |||
Net Fair Value Hedge Ineffectiveness | -5,682 | 4,638 | 4,431 | |||
Effect of Derivatives on Net Interest Income | 101,717 | [1] | 142,355 | [1] | 212,243 | [1] |
Consolidated Obligations, Discount Notes [Member] | ' | ' | ' | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |||
Gain (Loss) on Derivatives | ' | 114 | -1,120 | |||
Gain (Loss) on Hedged Items | ' | -134 | 784 | |||
Net Fair Value Hedge Ineffectiveness | ' | -20 | -336 | |||
Effect of Derivatives on Net Interest Income | ' | $12 | [1] | $1,254 | [1] | |
[1] | The differentials between accruals of interest receivables and payables on derivatives designated as fair value hedges as well as the amortization/accretion of hedging activities are recognized as adjustments to the interest income or expense of the designated underlying hedged item. |
Deposits_Narrative_Details
Deposits (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Deposits [Abstract] | ' | ' | ' |
Weighted Average Rate Interest Bearing Deposits | 0.09% | 0.09% | 0.13% |
Deposits_Types_Of_Deposits_Det
Deposits (Types Of Deposits) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deposits [Abstract] | ' | ' |
Interest-bearing, Demand | $214,645 | $253,527 |
Interest-bearing, Overnight | 686,100 | 824,200 |
Interest-bearing, Term | 23,800 | 39,900 |
Total interest-bearing | 924,545 | 1,117,627 |
Non-interest-bearing, Demand | 1,357 | 360 |
Non-interest-bearing, Other | 35,986 | 63,970 |
Total non-interest-bearing | 37,343 | 64,330 |
Total deposits | $961,888 | $1,181,957 |
Consolidated_Obligations_Narra
Consolidated Obligations (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Debt Instrument [Line Items] | ' | ' | ' |
Commitments for payments of principal on all consolidated obligations | $766,836,903 | $687,902,143 | ' |
Callable bonds | 8,302,000 | 8,461,000 | ' |
Unamortized Concessions | 11,629 | 12,392 | ' |
Amortization of Financing Costs | 5,913 | 18,125 | 12,276 |
Consolidated Obligations, Bonds [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Amortization of Financing Costs | 5,519 | 17,948 | 12,276 |
Consolidated Obligations, Discount Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Amortization of Financing Costs | $394 | $177 | $210 |
Consolidated_Obligations_Sched
Consolidated Obligations (Schedule Of Maturities Of Consolidated Obligations) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Federal Home Loan Bank, Consolidated Obligations [Abstract] | ' | ' | ||
Due in one year or less | $6,177,700 | $6,989,000 | ||
Due after one year through two years | 3,182,300 | 3,774,700 | ||
Due after two years through three years | 1,635,750 | 1,553,000 | ||
Due after three years through four years | 1,397,935 | 1,244,650 | ||
Due after four years through five years | 1,333,940 | 1,476,000 | ||
Thereafter | 6,312,600 | 6,749,900 | ||
Total par value | 20,040,225 | 21,787,250 | ||
Premium | 36,613 | 54,585 | ||
Discounts | -4,605 | -5,479 | ||
Hedging adjustments | -15,269 | [1] | 137,546 | [1] |
TOTAL | $20,056,964 | $21,973,902 | ||
Due in one year or less, Weighted Average Interest Rate | 0.74% | 1.14% | ||
Due after one year through two years, Weighted Average Interest Rate | 0.69% | 1.18% | ||
Due after two years through three years, Weighted Average Interest Rate | 1.70% | 1.32% | ||
Due after three years through four years, Weighted Average Interest Rate | 2.56% | 2.21% | ||
Due after four years through five years, Weighted Average Interest Rate | 1.79% | 2.74% | ||
Thereafter, Weighted Average Interest Rate | 2.28% | 2.45% | ||
Total par value, Weighted Average Interest Rate | 1.49% | 1.74% | ||
[1] | See Note 8 for a discussion of: (1) the FHLBankbs objectives for using derivatives; (2) the types of assets and liabilities hedged; and (3) the accounting for derivatives and the related assets and liabilities hedged. |
Consolidated_Obligations_Sched1
Consolidated Obligations (Schedule Of Consolidated Obligations, By Maturity Or Next Call Date) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Federal Home Loan Bank, Consolidated Obligations [Abstract] | ' | ' |
Due in one year or less | $14,189,700 | $14,900,000 |
Due after one year through two years | 3,248,300 | 3,847,700 |
Due after two years through three years | 1,126,750 | 1,024,000 |
Due after three years through four years | 761,935 | 809,650 |
Due after four years through five years | 378,940 | 688,000 |
Thereafter | 334,600 | 517,900 |
Total par value | $20,040,225 | $21,787,250 |
Consolidated_Obligations_Sched2
Consolidated Obligations (Schedule Of Consolidated Obligations, By Interest Rate Terms) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Total par value | $20,040,225 | $21,787,250 |
Fixed Rate [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total par value | 11,705,225 | 13,507,250 |
Simple variable rate [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total par value | 5,895,000 | 5,860,000 |
Step up/step down [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total par value | 2,220,000 | 2,270,000 |
Range Bonds [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total par value | 90,000 | 0 |
Variable to fixed rate [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total par value | 85,000 | 85,000 |
Fixed to variable rate [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total par value | $45,000 | $65,000 |
Consolidated_Obligations_Sched3
Consolidated Obligations (Schedule Of Consolidated Obligations, Current Portion) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Federal Home Loan Bank, Consolidated Obligations [Abstract] | ' | ' | ||
Book Value | $10,889,565 | $8,669,059 | ||
Par Value | $10,890,528 | $8,670,442 | ||
Weighted Average Interest Rate | 0.08% | [1] | 0.12% | [1] |
[1] | Represents yield to maturity excluding concession fees. |
Affordable_Housing_Program_Nar
Affordable Housing Program (Narrative) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
item | ||||
Affordable Housing Program [Line Items] | ' | ' | ' | ' |
Number of district FHLBanks | 12 | ' | ' | ' |
Portion of net earnings set aside after assessment for the Resolution Funding Corporation | $100,000,000 | ' | ' | ' |
Percentage of current year's net earnings set aside after assessment for Resolution Funding Corporation | 10.00% | ' | ' | ' |
Affordable Housing Program Obligation | 35,264,000 | 31,198,000 | 31,392,000 | 39,226,000 |
Affordable Housing Program, Next Year, Uncommitted And Prior Years Recaptured And Reallocated [Member] | ' | ' | ' | ' |
Affordable Housing Program [Line Items] | ' | ' | ' | ' |
Affordable Housing Program Obligation | 18,059,000 | ' | ' | ' |
Affordable Housing Program, Prior Years, Committed And Undisbursed [Member] | ' | ' | ' | ' |
Affordable Housing Program [Line Items] | ' | ' | ' | ' |
Affordable Housing Program Obligation | $17,205,000 | ' | ' | ' |
Affordable_Housing_Program_Sch
Affordable Housing Program (Schedule Of Change In AHP Liability) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Affordable Housing Program [Abstract] | ' | ' | ' | |||
Appropriated and reserved AHP funds as of the beginning of the period | $31,198 | $31,392 | $39,226 | |||
AHP set aside based on current year income | 13,229 | 12,261 | 8,611 | |||
Direct grants disbursed | -10,245 | -13,210 | -16,984 | |||
Recaptured funds1 | 1,082 | [1] | 755 | [1] | 539 | [1] |
Appropriated and reserved AHP funds as of the end of the period | $35,264 | $31,198 | $31,392 | |||
[1] | Recaptured funds are direct grants returned to the FHLBank in those instances where the commitments associated with the approved use of funds are not met and repayment to the FHLBank is required by regulation. Recaptured funds are returned as a result of: (1) AHP-assisted homeownerbs transfer or sale of property within the five-year retention period that the assisted homeowner is required to occupy the property; (2) homeownerbs failure to acquire sufficient loan funding (funds previously approved and disbursed cannot be used); (3) over-subsidized projects; or (4) unused grants. |
Resolution_Funding_Corporation1
Resolution Funding Corporation (Narrative) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Resolution Funding Corpration [Abstract] | ' |
Percentage of income allocated to separate restricted retained earnings account | 20.00% |
Percentage of income required to pay in accordance with GAAP | 20.00% |
Annual payment for FHLB Assessments | $300,000 |
Quarterly payments for FHLB Assessments | $75,000 |
Assets_Subject_to_Offsetting_S
Assets Subject to Offsetting (Schedule of Offseting Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Offsetting Assets [Line Items] | ' | ' | ||
Derivative assets | $27,957 | $25,166 | ||
Securities purchased under agreements to resell, Gross Amounts of Recognized Assets | ' | 1,999,288 | ||
Securities purchased under agreements to resell, Gross Amounts Offset in the Statement of Condition | ' | 0 | ||
Securities purchased under agreements to resell, Net Amounts of Assets Presented in the Statement of Condition | 0 | 1,999,288 | ||
Securities purchased under agreements to resell, Gross Amounts Not Offset in the Statement of Condition | ' | -1,999,288 | [1] | |
Securities purchased under agreements to resell, Net Amount | ' | 0 | ||
TOTAL, Gross Amounts of Recognized Assets | 172,806 | 2,255,667 | ||
TOTAL, Gross Amounts Offset in the Statement of Condition | -144,849 | -231,213 | ||
TOTAL, Net Amounts of Assets Presented in the Statement of Condition | 27,957 | 2,024,454 | ||
TOTAL, Gross Amounts Not Offest in the Statement of Condition | -24 | [1] | -1,999,566 | [1] |
TOTAL, Net Amount | 27,933 | 24,888 | ||
Bilateral derivatives [Member] | ' | ' | ||
Offsetting Assets [Line Items] | ' | ' | ||
Derivative Assets, Gross Amounts of Recognized Assets | 165,894 | 256,379 | ||
Derivative assets, Gross Amounts Offset in the Statement of Condition | -150,968 | -231,213 | ||
Derivative assets | 14,926 | 25,166 | ||
Derivative assets, Gross Amounts Not Offset in the Statement of Condition | -24 | [1] | -278 | [1] |
Derivative Assets, Net Amount | 14,902 | 24,888 | ||
Cleared derivatives [Member] | ' | ' | ||
Offsetting Assets [Line Items] | ' | ' | ||
Derivative Assets, Gross Amounts of Recognized Assets | 6,912 | ' | ||
Derivative assets, Gross Amounts Offset in the Statement of Condition | 6,119 | ' | ||
Derivative assets | 13,031 | ' | ||
Derivative assets, Gross Amounts Not Offset in the Statement of Condition | 0 | [1] | ' | |
Derivative Assets, Net Amount | $13,031 | ' | ||
[1] | Represents noncash collateral received on financial instruments that: (1) do not qualify for netting on the Statement of Condition; or (2) are not subject to an enforceable netting agreement (e.g., mortgage delivery commitments). |
Liabilities_Subject_to_Offsett
Liabilities Subject to Offsetting (Schedule of Offseting Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Offsetting Liabilities [Line Items] | ' | ' | ||
Derivative liabilities | $108,353 | $123,414 | ||
TOTAL, Gross Amounts of Recognized Liabilities | 470,329 | ' | ||
TOTAL, Gross Amounts Offset in the Statement of Condition | -361,976 | ' | ||
TOTAL, Net Amounts of Liabilities Presented in the Statement of Condition | 108,353 | ' | ||
TOTAL, Gross Amounts Not Offset in the Statement of Condition | -392 | [1] | ' | |
Total, Net Amount | 107,961 | ' | ||
Bilateral derivatives [Member] | ' | ' | ||
Offsetting Liabilities [Line Items] | ' | ' | ||
Derivative liabilities, Gross Amounts of Recognized Liabilities | 470,290 | 664,992 | ||
Derivative liabilities, Gross Amounts in the Statement of Condition | -361,937 | -541,578 | ||
Derivative liabilities | 108,353 | 123,414 | ||
Derivative liabilities, Gross Amounts Offset in the Statement of Condition | -392 | [1] | -157 | [1] |
Derivative liabilities, Net Amount | 107,961 | 123,257 | ||
Cleared derivatives [Member] | ' | ' | ||
Offsetting Liabilities [Line Items] | ' | ' | ||
Derivative liabilities, Gross Amounts of Recognized Liabilities | 39 | ' | ||
Derivative liabilities, Gross Amounts in the Statement of Condition | -39 | ' | ||
Derivative liabilities | 0 | ' | ||
Derivative liabilities, Gross Amounts Offset in the Statement of Condition | 0 | [1] | ' | |
Derivative liabilities, Net Amount | $0 | ' | ||
[1] | Represents noncash collateral received on financial instruments that: (1) do not qualify for netting on the Statement of Condition; or (2) are not subject to an enforceable netting agreement (e.g., mortgage delivery commitments). |
Capital_Narrative_Details
Capital (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
entity | entity | entity | |
Capital [Line Items] | ' | ' | ' |
Total regulatory capital-to-asset ratio, required | 4.00% | 4.00% | ' |
Leverage capital ratio, required | 5.00% | 5.00% | ' |
Leverage capital, permanent capital weight | 1.5 | 1.5 | ' |
Leverage capital, non-permanent capital weight | 1 | 1 | ' |
Percentage of income allocated to separate restricted retained earnings account | 20.00% | ' | ' |
Percent of Average Balance of Outstanding Consolidated Obligations Required per the Joint Capital Enhancement Agreement For Each Previous Quarter | 1.00% | ' | ' |
Terminated members in F.D.I.C. receivership | ' | 2 | 8 |
Terminated members with shares subject to mandatory redemption settlement terms | 2 | ' | ' |
Number of out-of-district mergers with shares subject to mandatory redemption settlement terms | 9 | ' | ' |
Capital Stock Class A [Member] | ' | ' | ' |
Capital [Line Items] | ' | ' | ' |
Common Stock, Par Value | 100 | 100 | ' |
Minimum period after which redemption is required | '6 months | ' | ' |
Asset-based stock purchase requirement, percentage | 0.10% | ' | ' |
Excess stock redemption or response period | '5 days | ' | ' |
Minimum period required to notify members prior to a change in the dividend parity threshold. | '90 days | ' | ' |
Dividend parity threshold adjustment | -1.00% | ' | ' |
Capital Stock Class B [Member] | ' | ' | ' |
Capital [Line Items] | ' | ' | ' |
Common Stock, Par Value | 100 | 100 | ' |
Minimum period after which redemption is required | '5 years | ' | ' |
Excess stock redemption or response period | '5 days | ' | ' |
Minimum period required to notify members prior to a change in the dividend parity threshold. | '90 days | ' | ' |
Dividend parity threshold adjustment | -1.00% | ' | ' |
Capital Stock Class B [Member] | Advances [Member] | ' | ' | ' |
Capital [Line Items] | ' | ' | ' |
Activity-based stock purchase requirement, percentage | 5.00% | ' | ' |
Minimum [Member] | ' | ' | ' |
Capital [Line Items] | ' | ' | ' |
Dividend parity threshold | 0.00% | ' | ' |
Minimum [Member] | Capital Stock Class A [Member] | ' | ' | ' |
Capital [Line Items] | ' | ' | ' |
Asset-based stock purchase requirement, value | 1,000 | ' | ' |
Minimum [Member] | Capital Stock Class B [Member] | ' | ' | ' |
Capital [Line Items] | ' | ' | ' |
Cancellation fee multiplier | 1.00% | ' | ' |
Maximum [Member] | ' | ' | ' |
Capital [Line Items] | ' | ' | ' |
Regulatory stock dividend payment restriction threshold | 1.00% | ' | ' |
Maximum [Member] | Capital Stock Class A [Member] | ' | ' | ' |
Capital [Line Items] | ' | ' | ' |
Asset-based stock purchase requirement, value | 500,000 | ' | ' |
Cancellation fee multiplier | 1.00% | ' | ' |
Maximum [Member] | Capital Stock Class B [Member] | ' | ' | ' |
Capital [Line Items] | ' | ' | ' |
Cancellation fee multiplier | 5.00% | ' | ' |
Capital_Schedule_Of_Compliance
Capital (Schedule Of Compliance With Regulatory Capital Requirements) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Capital [Abstract] | ' | ' |
Risk-based capital, Required | $414,914 | $300,742 |
Risk-based capital, Actual | 1,389,646 | 1,340,740 |
Total regulatory capital-to-asset ratio, Required | 4.00% | 4.00% |
Total regulatory capital-to-asset ratio, Actual | 5.40% | 5.20% |
Total regulatory capital, Required | 1,358,012 | 1,352,745 |
Total regulatory capital, Actual | 1,824,345 | 1,751,403 |
Leverage capital ratio, Required | 5.00% | 5.00% |
Leverage capital ratio, Actual | 7.40% | 7.20% |
Leverage capital, Required | 1,697,515 | 1,690,931 |
Leverage capital, Actual | $2,519,168 | $2,421,772 |
Capital_Schedule_Of_Mandatoril
Capital (Schedule Of Mandatorily Redeemable Capital Stock) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Capital [Abstract] | ' | ' | ' |
Balance as at beginning of period | $5,665 | $8,369 | $19,550 |
Capital stock subject to mandatory redemption reclassified from equity during the period | 356,841 | 381,687 | 301,438 |
Capital stock previously subject to mandatory redemption reclassified to equity | 0 | -4 | -90 |
Redemption or repurchase of mandatorily redeemable capital stock during the period | -357,765 | -384,425 | -312,698 |
Stock dividend classified as mandatorily redeemable capital stock during the period | 23 | 38 | 169 |
Balance at end of period | $4,764 | $5,665 | $8,369 |
Capital_Schedule_Of_Amount_Of_
Capital (Schedule Of Amount Of Mandatorily Redeemable Capital Stock By Contractual Year Of Redemption) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||
In Thousands, unless otherwise specified | ||||||
Capital [Abstract] | ' | ' | ' | ' | ||
Year 1 | $166 | $0 | ' | ' | ||
Year 2 | 52 | 1 | ' | ' | ||
Year 3 | 0 | 303 | ' | ' | ||
Year 4 | 0 | 0 | ' | ' | ||
Year 5 | 74 | 0 | ' | ' | ||
Past contractual redemption date due to remaining activity | 4,472 | [1] | 5,361 | [1] | ' | ' |
Mandatorily redeemable capital stock, TOTAL | $4,764 | $5,665 | $8,369 | $19,550 | ||
[1] | Represents mandatorily redeemable capital stock that is past the end of the contractual redemption period because there is activity outstanding to which the mandatorily redeemable capital stock relates. |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Summary Of Changes In Accumulated Other Comprehensive Income) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | |||
Accumulated Other Comprehensive Income (Loss), Balance at beginning of the period | ($25,257) | ($27,841) | ($22,672) | |||
Non-credit OTTI losses | -19 | -4,634 | -12,144 | |||
Accretion of non-credit portion | 4,340 | 6,358 | 4,507 | |||
Net gain (loss) - defined benefit pension plan | 1,667 | -661 | -1,020 | |||
Reclassification from other comprehensive income (loss) to new income, Non-credit OTTI to credit OTTI | 522 | [1] | 1,189 | [1] | 3,169 | [1] |
Amortization of net loss - defined benefit pension | 386 | [2] | 332 | [2] | 319 | [2] |
Net current period other comprehensive income (loss) | 6,896 | 2,584 | -5,169 | |||
Accumulated Other Comprehensive Income (Loss), Balance at end of the period | -18,361 | -25,257 | -27,841 | |||
Accumulated Other-than-Temporary Impairment [Member] | ' | ' | ' | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | |||
Accumulated Other Comprehensive Income (Loss), Balance at beginning of the period | -20,846 | -23,759 | -19,291 | |||
Non-credit OTTI losses | -19 | -4,634 | -12,144 | |||
Accretion of non-credit portion | 4,340 | 6,358 | 4,507 | |||
Reclassification from other comprehensive income (loss) to new income, Non-credit OTTI to credit OTTI | 522 | [1] | 1,189 | [1] | 3,169 | [1] |
Net current period other comprehensive income (loss) | 4,843 | 2,913 | -4,468 | |||
Accumulated Other Comprehensive Income (Loss), Balance at end of the period | -16,003 | -20,846 | -23,759 | |||
Accumulated Defined Benefit Plans Adjustment [Member] | ' | ' | ' | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | |||
Accumulated Other Comprehensive Income (Loss), Balance at beginning of the period | -4,411 | -4,082 | -3,381 | |||
Net gain (loss) - defined benefit pension plan | 1,667 | -661 | -1,020 | |||
Amortization of net loss - defined benefit pension | 386 | [2] | 332 | [2] | 319 | [2] |
Net current period other comprehensive income (loss) | 2,053 | -329 | -701 | |||
Accumulated Other Comprehensive Income (Loss), Balance at end of the period | ($2,358) | ($4,411) | ($4,082) | |||
[1] | Recorded in bNet other-than-temporary impairment losses on held-to-maturity securitiesb on the Statements of Income. Amount represents a debit (decrease to other income (loss)). | |||||
[2] | Recorded in bCompensation and benefitsb on the Statements of Income. Amount represents a debit (increase to other expenses). |
Pension_And_Postretirement_Ben2
Pension And Postretirement Benefit Plans (Narrative) (Details) (USD $) | 12 Months Ended | |||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2014 |
Qualified Defined Benefit Mutltiemployer Plan | Nonqualified Supplemental Retirement Plan, Defined Benefit [Member] | Nonqualified Supplemental Retirement Plan, Defined Benefit [Member] | Nonqualified Supplemental Retirement Plan, Defined Benefit [Member] | Nonqualified Supplemental Retirement Plan, Defined Benefit [Member] | ||||
Scenario, Forecast [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Employer contributions expensed, Defined Contribution Plan | $962 | $840 | $739 | ' | ' | ' | ' | ' |
Multiemployer Plans, Report Date | ' | ' | ' | 30-Jun-12 | ' | ' | ' | ' |
Multiemployer Plan Number | ' | ' | ' | '333 | ' | ' | ' | ' |
Multiemployer Plans, Period Contributions, Significance of Contributions | ' | ' | ' | 'false | ' | ' | ' | ' |
Amortization of net loss | ' | ' | ' | ' | ' | ' | ' | -181 |
Defined Benefit Pension Cost Including Administration Cost | ' | ' | ' | ' | 1,295 | 1,214 | 1,150 | ' |
Estimated employer contributions in next fiscal year | ' | ' | ' | ' | ' | ' | ' | 319 |
Deferred compensation | ' | ' | ' | ' | $427 | $305 | $250 | ' |
Pension_And_Postretirement_Ben3
Pension And Postretirement Benefit Plans (Schedule of Net Funded Status) (Details) (Multiemployer Plans, Pension [Member], USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 01, 2013 | Jul. 01, 2012 | Jul. 01, 2011 |
Multiemployer Plans, Pension [Member] | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' |
Net pension cost charged to compensation and benefits expense | $2,510 | $3,419 | $4,864 | ' | ' | ' |
Pentegra Defined Benefit Plan funded status as of July 1 | ' | ' | ' | 101.30% | 108.40% | 90.30% |
FHLBank's funded status as of July 1 | ' | ' | ' | 105.60% | 112.40% | 92.50% |
Pension_And_Postretirement_Ben4
Pension And Postretirement Benefit Plans (Change In Projected Benefit Obligation Fair value of Plan Assets And Funded Status Of Plan) (Details) (Nonqualified Supplemental Retirement Plan, Defined Benefit [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Nonqualified Supplemental Retirement Plan, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Projected benefit obligation at beginning of year | $11,911 | $10,603 | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Service cost | 469 | 433 | 373 |
Interest cost | 437 | 439 | 451 |
Benefits paid | -225 | -225 | ' |
Actuarial (gain) loss | -1,667 | 661 | ' |
Projected benefit obligation at end of year | 10,925 | 11,911 | 10,603 |
Fair value of plan assets at beginning of year | 0 | 0 | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
Employer contributions | 225 | 225 | ' |
Benefits paid | -225 | -225 | ' |
Fair value of plan assets at end of year | 0 | 0 | 0 |
FUNDED STATUS | ($10,925) | ($11,911) | ' |
Pension_And_Postretirement_Ben5
Pension And Postretirement Benefit Plans (Components Of The Net Periodic Pension Cost For The Defined Benefit Portion) (Details) (Nonqualified Supplemental Retirement Plan, Defined Benefit [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Nonqualified Supplemental Retirement Plan, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | $469 | $433 | $373 |
Interest cost | 437 | 439 | 451 |
Amortization of net loss | 386 | 332 | 319 |
NET PERIODIC POSTRETIREMENT BENEFIT COST | $1,292 | $1,204 | $1,143 |
Pension_And_Postretirement_Ben6
Pension And Postretirement Benefit Plans (Schedule of Assumptions Used) (Details) (Nonqualified Supplemental Retirement Plan, Defined Benefit [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Nonqualified Supplemental Retirement Plan, Defined Benefit [Member] | ' | ' | ' |
Discount rate - benefit obligation | 4.75% | 3.75% | 4.20% |
Discount rate - net periodic benefit cost | 3.75% | 4.20% | 5.25% |
Salary increases | 5.03% | 5.06% | 4.92% |
Amortization period (years) | '8 years | '9 years | '7 years |
Accumulated benefit obligation | $9,220 | $9,904 | $8,517 |
Pension_And_Postretirement_Ben7
Pension And Postretirement Benefit Plans (Schedule of Expected Benefit Payments) (Details) (Nonqualified Supplemental Retirement Plan, Defined Benefit [Member], USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Nonqualified Supplemental Retirement Plan, Defined Benefit [Member] | ' |
2014 | $319 |
2015 | 360 |
2016 | 407 |
2017 | 472 |
2018 | 559 |
2019 through 2023 | $4,283 |
Fair_Values_Fair_Value_By_Bala
Fair Values (Fair Value, By Balance Sheet Grouping) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Trading securities | $2,704,777 | $2,764,918 | ||
Held-to-maturity securities, Carrying Value | 5,423,659 | [1] | 5,159,750 | [1] |
Held-to-maturity securities | 5,415,205 | 5,192,330 | ||
Derivative assets | 27,957 | 25,166 | ||
Derivative liabilities | 108,353 | 123,414 | ||
Carrying Value [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Cash and due from banks | 1,713,940 | 369,997 | ||
Interest-bearing deposits | 1,116 | 455 | ||
Securities purchased under resale agreements | ' | 1,999,288 | ||
Federal funds sold | 575,000 | 850,000 | ||
Trading securities | 2,704,777 | 2,764,918 | ||
Held-to-maturity securities, Carrying Value | 5,423,659 | 5,159,750 | ||
Advances | 17,425,487 | 16,573,348 | ||
Mortgage loans held for portfolio, net of allowance | 5,949,480 | 5,940,517 | ||
Accrued interest receivable | 72,526 | 77,445 | ||
Derivative assets | 27,957 | 25,166 | ||
Deposits | 961,888 | 1,181,957 | ||
Consolidated obligation discount notes | 10,889,565 | 8,669,059 | ||
Consolidated obligation bonds | 20,056,964 | 21,973,902 | ||
Mandatorily redeemable capital stock | 4,764 | 5,665 | ||
Accrued interest payable | 62,447 | 81,801 | ||
Derivative liabilities | 108,353 | 123,414 | ||
Standby letters of credit | -996 | -1,039 | ||
Standby bond purchase agreements | 208 | 588 | ||
Standby credit facility commitments outstanding | -45 | ' | ||
Advance commitments | 0 | ' | ||
Fair Value [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Cash and due from banks | 1,713,940 | 369,997 | ||
Interest-bearing deposits | 1,116 | 455 | ||
Securities purchased under resale agreements | ' | 1,999,288 | ||
Federal funds sold | 575,000 | 850,000 | ||
Trading securities | 2,704,777 | 2,764,918 | ||
Held-to-maturity securities | 5,415,205 | 5,192,330 | ||
Advances | 17,461,489 | 16,714,319 | ||
Mortgage loans held for portfolio, net of allowance | 5,991,371 | 6,256,905 | ||
Accrued interest receivable | 72,526 | 77,445 | ||
Derivative assets | 27,957 | 25,166 | ||
Deposits | 961,888 | 1,181,957 | ||
Consolidated obligation discount notes | 10,889,682 | 8,669,327 | ||
Consolidated obligation bonds | 19,808,605 | 22,189,631 | ||
Mandatorily redeemable capital stock | 4,764 | 5,665 | ||
Accrued interest payable | 62,447 | 81,801 | ||
Derivative liabilities | 108,353 | 123,414 | ||
Standby letters of credit | -996 | -1,039 | ||
Standby bond purchase agreements | 6,868 | 4,922 | ||
Standby credit facility commitments outstanding | -45 | ' | ||
Advance commitments | -182 | ' | ||
Fair Value [Member] | Level 1 [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Cash and due from banks | 1,713,940 | 369,997 | ||
Interest-bearing deposits | 0 | 0 | ||
Securities purchased under resale agreements | ' | 0 | ||
Federal funds sold | 0 | 0 | ||
Trading securities | 0 | 0 | ||
Held-to-maturity securities | 0 | 0 | ||
Advances | 0 | 0 | ||
Mortgage loans held for portfolio, net of allowance | 0 | 0 | ||
Accrued interest receivable | 0 | 0 | ||
Derivative assets | 0 | 0 | ||
Deposits | 0 | 0 | ||
Consolidated obligation discount notes | 0 | 0 | ||
Consolidated obligation bonds | 0 | 0 | ||
Mandatorily redeemable capital stock | 4,764 | 5,665 | ||
Accrued interest payable | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Standby letters of credit | 0 | 0 | ||
Standby bond purchase agreements | 0 | 0 | ||
Standby credit facility commitments outstanding | 0 | ' | ||
Advance commitments | 0 | ' | ||
Fair Value [Member] | Level 2 [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Cash and due from banks | 0 | 0 | ||
Interest-bearing deposits | 1,116 | 455 | ||
Securities purchased under resale agreements | ' | 1,999,288 | ||
Federal funds sold | 575,000 | 850,000 | ||
Trading securities | 2,704,777 | 2,764,918 | ||
Held-to-maturity securities | 5,038,465 | 4,633,792 | ||
Advances | 17,461,489 | 16,714,319 | ||
Mortgage loans held for portfolio, net of allowance | 5,991,371 | 6,256,905 | ||
Accrued interest receivable | 72,526 | 77,445 | ||
Derivative assets | 172,806 | 256,379 | ||
Deposits | 961,888 | 1,181,957 | ||
Consolidated obligation discount notes | 10,889,682 | 8,669,327 | ||
Consolidated obligation bonds | 19,808,605 | 22,189,631 | ||
Mandatorily redeemable capital stock | 0 | 0 | ||
Accrued interest payable | 62,447 | 81,801 | ||
Derivative liabilities | 470,329 | 664,992 | ||
Standby letters of credit | -996 | -1,039 | ||
Standby bond purchase agreements | 6,868 | 4,922 | ||
Standby credit facility commitments outstanding | -45 | ' | ||
Advance commitments | -182 | ' | ||
Fair Value [Member] | Level 3 [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Cash and due from banks | 0 | 0 | ||
Interest-bearing deposits | 0 | 0 | ||
Securities purchased under resale agreements | ' | 0 | ||
Federal funds sold | 0 | 0 | ||
Trading securities | 0 | 0 | ||
Held-to-maturity securities | 376,740 | 558,538 | ||
Advances | 0 | 0 | ||
Mortgage loans held for portfolio, net of allowance | 0 | 0 | ||
Accrued interest receivable | 0 | 0 | ||
Derivative assets | 0 | 0 | ||
Deposits | 0 | 0 | ||
Consolidated obligation discount notes | 0 | 0 | ||
Consolidated obligation bonds | 0 | 0 | ||
Mandatorily redeemable capital stock | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Standby letters of credit | 0 | 0 | ||
Standby bond purchase agreements | 0 | 0 | ||
Standby credit facility commitments outstanding | 0 | ' | ||
Advance commitments | 0 | ' | ||
Fair Value [Member] | Netting Adjustment And Cash Collateral [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Cash and due from banks | 0 | 0 | ||
Interest-bearing deposits | 0 | 0 | ||
Securities purchased under resale agreements | ' | 0 | ||
Federal funds sold | 0 | 0 | ||
Trading securities | 0 | 0 | ||
Held-to-maturity securities | 0 | 0 | ||
Advances | 0 | 0 | ||
Mortgage loans held for portfolio, net of allowance | 0 | 0 | ||
Accrued interest receivable | 0 | 0 | ||
Derivative assets | -144,849 | -231,213 | ||
Deposits | 0 | 0 | ||
Consolidated obligation discount notes | 0 | 0 | ||
Consolidated obligation bonds | 0 | 0 | ||
Mandatorily redeemable capital stock | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Derivative liabilities | -361,976 | -541,578 | ||
Standby letters of credit | 0 | 0 | ||
Standby bond purchase agreements | 0 | 0 | ||
Standby credit facility commitments outstanding | 0 | ' | ||
Advance commitments | $0 | ' | ||
[1] | Fair value:B $5,415,205 and $5,192,330 as of December 31, 2013 and 2012, respectively. |
Fair_Values_Fair_Value_Assets_
Fair Values (Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | $2,704,777 | $2,764,918 | ||
Total derivative assets | 27,957 | 25,166 | ||
Total derivative liabilities | 108,353 | 123,414 | ||
Held-to-maturity securities | 5,415,205 | 5,192,330 | ||
Non-mortgage-backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 2,532,987 | 2,511,329 | ||
Held-to-maturity securities | 54,872 | 60,926 | ||
Commercial Paper [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | ' | 59,996 | ||
Held-to-maturity securities | ' | 0 | ||
Certificates Of Deposit [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 260,009 | 325,006 | ||
Held-to-maturity securities | 0 | 0 | ||
U.S. Treasury Obligations [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 25,012 | ' | ||
Held-to-maturity securities | 0 | ' | ||
Government-Sponsored Enterprise Obligations [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 2,247,966 | [1],[2] | 2,126,327 | [1],[3] |
Held-to-maturity securities | 0 | [1],[2] | 0 | [1],[3] |
State Or Local Housing Agency Obligations [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | 0 | ||
Held-to-maturity securities | 54,872 | 60,926 | ||
Mortgage-Backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 171,790 | 253,589 | ||
Held-to-maturity securities | 5,360,333 | 5,131,404 | ||
Private-label Home Equity Loan ABS [Member] | Private-Label Mortgage-Backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | 0 | ||
Held-to-maturity securities | 2,767 | 2,421 | ||
Residential Mortgage Backed Securities [Member] | U.S. Olbigation MBS [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 1,090 | [4] | 1,277 | [5] |
Held-to-maturity securities | 69,180 | [4] | 86,134 | [5] |
Residential Mortgage Backed Securities [Member] | Government-sponsored enterprise MBS [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 170,700 | [6] | 252,312 | [6] |
Held-to-maturity securities | 4,969,285 | [6] | 4,547,658 | [6] |
Residential Mortgage Backed Securities [Member] | Private-Label Mortgage-Backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | 0 | ||
Held-to-maturity securities | 319,101 | 495,191 | ||
Fair Value [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 2,704,777 | 2,764,918 | ||
Total derivative assets | 27,957 | 25,166 | ||
Total derivative liabilities | 108,353 | 123,414 | ||
Held-to-maturity securities | 5,415,205 | 5,192,330 | ||
Fair Value [Member] | Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | 0 | ||
Total derivative assets | 0 | 0 | ||
Total derivative liabilities | 0 | 0 | ||
Held-to-maturity securities | 0 | 0 | ||
Fair Value [Member] | Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 2,704,777 | 2,764,918 | ||
Total derivative assets | 172,806 | 256,379 | ||
Total derivative liabilities | 470,329 | 664,992 | ||
Held-to-maturity securities | 5,038,465 | 4,633,792 | ||
Fair Value [Member] | Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | 0 | ||
Total derivative assets | 0 | 0 | ||
Total derivative liabilities | 0 | 0 | ||
Held-to-maturity securities | 376,740 | 558,538 | ||
Fair Value [Member] | Netting Adjustment And Cash Collateral [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | 0 | ||
Total derivative assets | -144,849 | -231,213 | ||
Total derivative liabilities | -361,976 | -541,578 | ||
Held-to-maturity securities | 0 | 0 | ||
Fair Value [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 2,704,777 | 2,764,918 | ||
Total derivative assets | 27,957 | 25,166 | ||
TOTAL ASSETS MEASURED AT FAIR VALUE | 2,732,734 | 2,790,084 | ||
Total derivative liabilities | 108,353 | 123,414 | ||
TOTAL LIABILITIES MEASURED AT FAIR VALUE | 108,353 | 123,414 | ||
Fair Value [Member] | Recurring Fair Value Measurements [Member] | Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 2,704,777 | 2,764,918 | ||
Total derivative assets | 172,806 | 256,379 | ||
TOTAL ASSETS MEASURED AT FAIR VALUE | 2,877,583 | 3,021,297 | ||
Total derivative liabilities | 470,329 | 664,992 | ||
TOTAL LIABILITIES MEASURED AT FAIR VALUE | 470,329 | 664,992 | ||
Fair Value [Member] | Recurring Fair Value Measurements [Member] | Netting Adjustment And Cash Collateral [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total derivative assets | -144,849 | [7] | -231,213 | [7] |
TOTAL ASSETS MEASURED AT FAIR VALUE | -144,849 | [7] | -231,213 | [7] |
Total derivative liabilities | -361,976 | [7] | -541,578 | [7] |
TOTAL LIABILITIES MEASURED AT FAIR VALUE | -361,976 | [7] | -541,578 | [7] |
Fair Value [Member] | Nonrecurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
TOTAL ASSETS MEASURED AT FAIR VALUE | 734 | 540 | ||
Real estate owned | 497 | [8] | 540 | [9] |
Fair Value [Member] | Nonrecurring Fair Value Measurements [Member] | Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
TOTAL ASSETS MEASURED AT FAIR VALUE | 734 | 540 | ||
Real estate owned | 497 | [8] | 540 | [9] |
Fair Value [Member] | Interest Rate Contract [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total derivative assets | 27,933 | 25,064 | ||
Total derivative liabilities | 108,064 | 123,318 | ||
Fair Value [Member] | Interest Rate Contract [Member] | Recurring Fair Value Measurements [Member] | Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total derivative assets | 172,782 | 256,277 | ||
Total derivative liabilities | 470,040 | 664,896 | ||
Fair Value [Member] | Interest Rate Contract [Member] | Recurring Fair Value Measurements [Member] | Netting Adjustment And Cash Collateral [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total derivative assets | -144,849 | [7] | -231,213 | [7] |
Total derivative liabilities | -361,976 | [7] | -541,578 | [7] |
Fair Value [Member] | Mortgage Delivery Commitments [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total derivative assets | 24 | 102 | ||
Total derivative liabilities | 289 | 96 | ||
Fair Value [Member] | Mortgage Delivery Commitments [Member] | Recurring Fair Value Measurements [Member] | Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total derivative assets | 24 | 102 | ||
Total derivative liabilities | 289 | 96 | ||
Fair Value [Member] | Commercial Paper [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | ' | 59,996 | ||
Fair Value [Member] | Commercial Paper [Member] | Recurring Fair Value Measurements [Member] | Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | ' | 59,996 | ||
Fair Value [Member] | Certificates Of Deposit [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 260,009 | 325,006 | ||
Fair Value [Member] | Certificates Of Deposit [Member] | Recurring Fair Value Measurements [Member] | Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 260,009 | 325,006 | ||
Fair Value [Member] | U.S. Treasury Obligations [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 25,012 | ' | ||
Fair Value [Member] | U.S. Treasury Obligations [Member] | Recurring Fair Value Measurements [Member] | Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 25,012 | ' | ||
Fair Value [Member] | Government-Sponsored Enterprise Obligations [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 2,247,966 | [1],[3] | 2,126,327 | [1],[3] |
Fair Value [Member] | Government-Sponsored Enterprise Obligations [Member] | Recurring Fair Value Measurements [Member] | Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 2,247,966 | [1],[3] | 2,126,327 | [1],[3] |
Fair Value [Member] | Residential Mortgage Backed Securities [Member] | Recurring Fair Value Measurements [Member] | U.S. Olbigation MBS [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 1,090 | [3],[5] | 1,277 | [5] |
Fair Value [Member] | Residential Mortgage Backed Securities [Member] | Recurring Fair Value Measurements [Member] | Government-sponsored enterprise MBS [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 170,700 | [6] | 252,312 | [6] |
Fair Value [Member] | Residential Mortgage Backed Securities [Member] | Recurring Fair Value Measurements [Member] | Level 2 [Member] | U.S. Olbigation MBS [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 1,090 | [3],[5] | 1,277 | [5] |
Fair Value [Member] | Residential Mortgage Backed Securities [Member] | Recurring Fair Value Measurements [Member] | Level 2 [Member] | Government-sponsored enterprise MBS [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 170,700 | [6] | 252,312 | [6] |
Fair Value [Member] | Residential Mortgage Backed Securities [Member] | Nonrecurring Fair Value Measurements [Member] | Private-Label Mortgage-Backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Held-to-maturity securities | 237 | [10] | ' | |
Fair Value [Member] | Residential Mortgage Backed Securities [Member] | Nonrecurring Fair Value Measurements [Member] | Level 3 [Member] | Private-Label Mortgage-Backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Held-to-maturity securities | $237 | [10] | ' | |
[1] | See Note 20 for transactions with other FHLBanks. | |||
[2] | Represents debentures issued by other FHLBanks, Federal National Mortgage Association (FannieB Mae), Federal Home Loan Mortgage Corporation (FreddieB Mac), Federal Farm Credit Bank (Farm Credit), and Federal Agricultural Mortgage Corporation (Farmer Mac). GSE securities are not guaranteed by the U.S. government. Fannie Mae and Freddie Mac were placed into conservatorship by the Finance Agency on September 7, 2008 with the Finance Agency named as conservator. | |||
[3] | Represents debentures issued by other FHLBanks, FannieB Mae, FreddieB Mac, Farm Credit, and Farmer Mac. GSE securities are not guaranteed by the U.S. government. Fannie Mae and Freddie Mac were placed into conservatorship by the Finance Agency on September 7, 2008 with the Finance Agency named as conservator. | |||
[4] | Represents MBS issued by Government National Mortgage Association (GinnieB Mae), which are guaranteed by the U.S. government. | |||
[5] | Represents MBS issued by GinnieB Mae, which are guaranteed by the U.S. government. | |||
[6] | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | |||
[7] | Represents the effect of legally enforceable master netting agreements that allow the FHLBank to net settle positive and negative positions and also derivative cash collateral and related accrued interest held or placed with the same counterparties. | |||
[8] | Includes real estate owned written down to fair value during the quarter ended December 31, 2013 and still outstanding as of December 31, 2013. | |||
[9] | Includes real estate owned written down to fair value during the quarter ended December 31, 2012 and still outstanding as of December 31, 2012. | |||
[10] | Excludes impaired securities with carrying values less than their fair values at date of impairment. |
Commitments_And_Contingencies_1
Commitments And Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
entity | entity | ||
Loss Contingencies [Line Items] | ' | ' | ' |
Commitments for payments of principal on consolidated obligations of other Federal Home Loan Banks | $735,906,150,000 | $657,444,451,000 | ' |
Unearned fees as well as the value of the guarantees of standby letters of credit | 996,000 | 1,039,000 | ' |
Number of in-district state housing authorities with standby bond purchase agreements | 2 | 2 | ' |
Number of out-of-district state housing authorities with standby bond purchase agreements | 1 | 1 | ' |
Number of participation interests standby bond purchase agreements with another FHLBank and state housing authorities in its district | 1 | ' | ' |
Mortgage delivery commitments, derivative asset (liability) | -265,000 | 6,000 | ' |
Commitments to fund or purchase mortgage loans, duration of commitment | '60 days | ' | ' |
Expiration year of standby bond purchase commitments | '2016 | ' | ' |
Standby letters of credit, final expiration | '2020 | '2020 | ' |
Operating Leases, Rent Expense, Net | 118,000 | 110,000 | 116,000 |
Original par value of customer securities held by a third-party on our behalf | 37,586,626,000,000 | ' | ' |
Standby Credit Facility Commitments Arrangement Fees [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Unearned Fees | $45,000 | ' | ' |
Standby Letters of Credit Outstanding [Member] | Minimum [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Debt Instrument, original term | '7 days | '3 days | ' |
Standby Letters of Credit Outstanding [Member] | Maximum [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Debt Instrument, original term | '10 years | '10 years | ' |
Standby Credit Facility Commitments Outstanding [Member] | Maximum [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Debt Instrument, original term | '1 year | ' | ' |
Forward Settling Advance Commitments [Member] | Maximum [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Commitment Term | '24 months | ' | ' |
Commitments_And_Contingencies_2
Commitments And Contingencies (Schedule Of Off-Balance Sheet Commitments) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Forward Settling Advance Commitments [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Off-balance Sheet Commitments, Expiring Within One Year | $6 | $0 |
Off-balance Sheet Commitments, Expiring After One Year | 0 | 0 |
Off-balance Sheet Commitments | 6 | 0 |
Standby Letters of Credit Outstanding [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Off-balance Sheet Commitments, Expiring Within One Year | 2,530,810 | 2,533,506 |
Off-balance Sheet Commitments, Expiring After One Year | 12,038 | 21,332 |
Off-balance Sheet Commitments | 2,542,848 | 2,554,838 |
Standby Credit Facility Commitments Outstanding [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Off-balance Sheet Commitments, Expiring Within One Year | 50,000 | 0 |
Off-balance Sheet Commitments, Expiring After One Year | 0 | 0 |
Off-balance Sheet Commitments | 50,000 | 0 |
Commitments For Standby Bond Purchases [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Off-balance Sheet Commitments, Expiring Within One Year | 363,777 | 532,028 |
Off-balance Sheet Commitments, Expiring After One Year | 1,293,972 | 1,065,176 |
Off-balance Sheet Commitments | 1,657,749 | 1,597,204 |
Commitments To Fund or Purchase Mortgage Loans [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Off-balance Sheet Commitments, Expiring Within One Year | 65,620 | 106,355 |
Off-balance Sheet Commitments, Expiring After One Year | 0 | 0 |
Off-balance Sheet Commitments | 65,620 | 106,355 |
Commitments To Issue Consolidated Bonds, At Par [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Off-balance Sheet Commitments, Expiring Within One Year | 75,000 | 165,000 |
Off-balance Sheet Commitments, Expiring After One Year | 0 | 0 |
Off-balance Sheet Commitments | $75,000 | $165,000 |
Commitments_And_Contingencies_3
Commitments And Contingencies (Contractual Obligation, Fiscal Year Maturity Schedule) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Operating Leased Assets [Line Items] | ' |
2014 | $113 |
2015 | 55 |
2016 | 48 |
2017 | 19 |
Thereafter | 0 |
TOTAL | 235 |
Premises [Member] | ' |
Operating Leased Assets [Line Items] | ' |
2014 | 50 |
2015 | 45 |
2016 | 45 |
2017 | 19 |
Thereafter | 0 |
TOTAL | 159 |
Equipment [Member] | ' |
Operating Leased Assets [Line Items] | ' |
2014 | 63 |
2015 | 10 |
2016 | 3 |
2017 | 0 |
Thereafter | 0 |
TOTAL | $76 |
Transactions_With_Stockholders2
Transactions With Stockholders And Housing Associates (Narrative) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Related Party Transaction [Line Items] | ' | ' |
Lease inception year | '2002 | ' |
Lease term | '20 years | ' |
Option term | '15 years | ' |
Property, Plant and Equipment, Other, Gross | $7,896 | ' |
MidFirst Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Loans And Leases Receivable, Acquired or Funded With Related Party During Period | 0 | 0 |
Capitol Federal Savings Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Loans And Leases Receivable, Acquired or Funded With Related Party During Period | $0 | $0 |
Transactions_With_Stockholders3
Transactions With Stockholders And Housing Associates (Schedule Of Related Parties With Ten Percent Or More Of Capital Stock) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | $17,425,487 | $16,573,348 |
Outstanding Deposits | 961,888 | 1,181,957 |
Ten Percent Owner [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 5,245,000 | 5,448,000 |
Outstanding Advances, Percent of Total | 30.50% | 33.80% |
Outstanding Deposits | 1,149 | 1,260 |
Outstanding Deposits, Percent of Total | 0.20% | 0.10% |
MidFirst Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 2,720,000 | 2,898,000 |
Outstanding Advances, Percent of Total | 15.80% | 18.00% |
Outstanding Deposits | 538 | 13 |
Outstanding Deposits, Percent of Total | 0.10% | 0.00% |
Capitol Federal Savings Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 2,525,000 | 2,550,000 |
Outstanding Advances, Percent of Total | 14.70% | 15.80% |
Outstanding Deposits | 611 | 1,247 |
Outstanding Deposits, Percent of Total | 0.10% | 0.10% |
Total Capital Stock [Member] | Ten Percent Owner [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 266,465 | 277,011 |
Regulatory Capital Stock, Percent Of Total | 21.20% | 21.80% |
Total Capital Stock [Member] | Ten Percent Owner [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 2,600 | 2,502 |
Regulatory Capital Stock, Percent Of Total | 0.60% | 0.60% |
Total Capital Stock [Member] | Ten Percent Owner [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 263,865 | 274,509 |
Regulatory Capital Stock, Percent Of Total | 32.10% | 31.90% |
Total Capital Stock [Member] | MidFirst Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 137,370 | 146,227 |
Regulatory Capital Stock, Percent Of Total | 10.90% | 11.50% |
Total Capital Stock [Member] | MidFirst Bank [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 500 | 500 |
Regulatory Capital Stock, Percent Of Total | 0.10% | 0.10% |
Total Capital Stock [Member] | MidFirst Bank [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 136,870 | 145,727 |
Regulatory Capital Stock, Percent Of Total | 16.70% | 16.90% |
Total Capital Stock [Member] | Capitol Federal Savings Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 129,095 | 130,784 |
Regulatory Capital Stock, Percent Of Total | 10.30% | 10.30% |
Total Capital Stock [Member] | Capitol Federal Savings Bank [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 2,100 | 2,002 |
Regulatory Capital Stock, Percent Of Total | 0.50% | 0.50% |
Total Capital Stock [Member] | Capitol Federal Savings Bank [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | $126,995 | $128,782 |
Regulatory Capital Stock, Percent Of Total | 15.40% | 15.00% |
Transactions_With_Stockholders4
Transactions With Stockholders And Housing Associates (Schedule Of Related Party Transactions, Capital Stock Disclosure) (Details) (Total Capital Stock [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Federal Home Loan Bank Member Banks Given Directorship [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | $17,712 | $24,105 |
Regulatory Capital Stock, Percent Of Total | 1.40% | 1.90% |
Federal Home Loan Bank Member Banks Given Directorship [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 9,380 | 7,894 |
Regulatory Capital Stock, Percent Of Total | 2.10% | 1.90% |
Federal Home Loan Bank Member Banks Given Directorship [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 8,332 | 16,211 |
Regulatory Capital Stock, Percent Of Total | 1.00% | 1.90% |
FirstBank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 3,815 | 6,200 |
Regulatory Capital Stock, Percent Of Total | 0.30% | 0.50% |
FirstBank [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 1,600 | 500 |
Regulatory Capital Stock, Percent Of Total | 0.40% | 0.10% |
FirstBank [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 2,215 | 5,700 |
Regulatory Capital Stock, Percent Of Total | 0.30% | 0.70% |
Girard National Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 2,727 | 4,351 |
Regulatory Capital Stock, Percent Of Total | 0.20% | 0.30% |
Girard National Bank [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 1,061 | 623 |
Regulatory Capital Stock, Percent Of Total | 0.20% | 0.20% |
Girard National Bank [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 1,666 | 3,728 |
Regulatory Capital Stock, Percent Of Total | 0.20% | 0.40% |
Vision Bank, NA [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 2,305 | 2,956 |
Regulatory Capital Stock, Percent Of Total | 0.20% | 0.20% |
Vision Bank, NA [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 1,623 | 2,000 |
Regulatory Capital Stock, Percent Of Total | 0.40% | 0.50% |
Vision Bank, NA [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 682 | 956 |
Regulatory Capital Stock, Percent Of Total | 0.10% | 0.10% |
First State Bank Nebraska [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 2,274 | 2,225 |
Regulatory Capital Stock, Percent Of Total | 0.20% | 0.20% |
First State Bank Nebraska [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 973 | 510 |
Regulatory Capital Stock, Percent Of Total | 0.20% | 0.10% |
First State Bank Nebraska [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 1,301 | 1,715 |
Regulatory Capital Stock, Percent Of Total | 0.20% | 0.20% |
NebraskaLand National Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 2,071 | 1,715 |
Regulatory Capital Stock, Percent Of Total | 0.20% | 0.10% |
NebraskaLand National Bank [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 561 | 961 |
Regulatory Capital Stock, Percent Of Total | 0.10% | 0.20% |
NebraskaLand National Bank [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 1,510 | 754 |
Regulatory Capital Stock, Percent Of Total | 0.20% | 0.10% |
Bank Of Bennington [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 1,002 | ' |
Regulatory Capital Stock, Percent Of Total | 0.10% | ' |
Bank Of Bennington [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 951 | ' |
Regulatory Capital Stock, Percent Of Total | 0.20% | ' |
Bank Of Bennington [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 51 | ' |
Regulatory Capital Stock, Percent Of Total | 0.00% | ' |
Citizens Bank & Trust Co. [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 985 | 982 |
Regulatory Capital Stock, Percent Of Total | 0.10% | 0.10% |
Citizens Bank & Trust Co. [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 934 | 931 |
Regulatory Capital Stock, Percent Of Total | 0.20% | 0.20% |
Citizens Bank & Trust Co. [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 51 | 51 |
Regulatory Capital Stock, Percent Of Total | 0.00% | 0.00% |
Points West Community Bank (NE) [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 892 | ' |
Regulatory Capital Stock, Percent Of Total | 0.10% | ' |
Points West Community Bank (NE) [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 648 | ' |
Regulatory Capital Stock, Percent Of Total | 0.10% | ' |
Points West Community Bank (NE) [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 244 | ' |
Regulatory Capital Stock, Percent Of Total | 0.00% | ' |
Points West Community Bank (CO) [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 537 | ' |
Regulatory Capital Stock, Percent Of Total | 0.00% | ' |
Points West Community Bank (CO) [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 244 | ' |
Regulatory Capital Stock, Percent Of Total | 0.10% | ' |
Points West Community Bank (CO) [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 293 | ' |
Regulatory Capital Stock, Percent Of Total | 0.00% | ' |
Fullerton National Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 421 | ' |
Regulatory Capital Stock, Percent Of Total | 0.00% | ' |
Fullerton National Bank [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 155 | ' |
Regulatory Capital Stock, Percent Of Total | 0.00% | ' |
Fullerton National Bank [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 266 | ' |
Regulatory Capital Stock, Percent Of Total | 0.00% | ' |
Bankers Bank Of Kansas, NA [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 272 | 272 |
Regulatory Capital Stock, Percent Of Total | 0.00% | 0.00% |
Bankers Bank Of Kansas, NA [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 270 | 270 |
Regulatory Capital Stock, Percent Of Total | 0.10% | 0.10% |
Bankers Bank Of Kansas, NA [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 2 | 2 |
Regulatory Capital Stock, Percent Of Total | 0.00% | 0.00% |
Bank of Estes Park [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 222 | ' |
Regulatory Capital Stock, Percent Of Total | 0.00% | ' |
Bank of Estes Park [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 221 | ' |
Regulatory Capital Stock, Percent Of Total | 0.10% | ' |
Bank of Estes Park [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 1 | ' |
Regulatory Capital Stock, Percent Of Total | 0.00% | ' |
First Security Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 189 | ' |
Regulatory Capital Stock, Percent Of Total | 0.00% | ' |
First Security Bank [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 139 | ' |
Regulatory Capital Stock, Percent Of Total | 0.00% | ' |
First Security Bank [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 50 | ' |
Regulatory Capital Stock, Percent Of Total | 0.00% | ' |
Golden Belt Bank, FSA [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | ' | 3,335 |
Regulatory Capital Stock, Percent Of Total | ' | 0.30% |
Golden Belt Bank, FSA [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | ' | 1,192 |
Regulatory Capital Stock, Percent Of Total | ' | 0.30% |
Golden Belt Bank, FSA [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | ' | 2,143 |
Regulatory Capital Stock, Percent Of Total | ' | 0.30% |
Morgan Federal Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | ' | 2,069 |
Regulatory Capital Stock, Percent Of Total | ' | 0.20% |
Morgan Federal Bank [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | ' | 907 |
Regulatory Capital Stock, Percent Of Total | ' | 0.20% |
Morgan Federal Bank [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | ' | $1,162 |
Regulatory Capital Stock, Percent Of Total | ' | 0.10% |
Transactions_With_Stockholders5
Transactions With Stockholders And Housing Associates (Schedule Of Related Party Transactions, Advances And Deposits Disclosure) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | $17,425,487 | $16,573,348 |
Outstanding Deposits | 961,888 | 1,181,957 |
Federal Home Loan Bank Member Banks Given Directorship [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 203,310 | 169,586 |
Outstanding Advances, Percent of Total | 1.20% | 1.10% |
Outstanding Deposits | 6,220 | 20,902 |
Outstanding Deposits, Percent of Total | 0.60% | 1.80% |
FirstBank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 53,275 | 38,000 |
Outstanding Advances, Percent of Total | 0.30% | 0.20% |
Outstanding Deposits | 2,639 | 7,252 |
Outstanding Deposits, Percent of Total | 0.30% | 0.60% |
Girard National Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 36,469 | 37,514 |
Outstanding Advances, Percent of Total | 0.20% | 0.20% |
Outstanding Deposits | 1,711 | 2,333 |
Outstanding Deposits, Percent of Total | 0.20% | 0.20% |
Vision Bank, NA [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 22,489 | 23,543 |
Outstanding Advances, Percent of Total | 0.10% | 0.20% |
Outstanding Deposits | 206 | 781 |
Outstanding Deposits, Percent of Total | 0.00% | 0.10% |
First State Bank Nebraska [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 25,817 | 33,867 |
Outstanding Advances, Percent of Total | 0.20% | 0.20% |
Outstanding Deposits | 220 | 866 |
Outstanding Deposits, Percent of Total | 0.00% | 0.10% |
NebraskaLand National Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 36,050 | 11,000 |
Outstanding Advances, Percent of Total | 0.20% | 0.10% |
Outstanding Deposits | 50 | 76 |
Outstanding Deposits, Percent of Total | 0.00% | 0.00% |
Bank Of Bennington [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 80 | ' |
Outstanding Deposits | 1,086 | ' |
Outstanding Deposits, Percent of Total | 0.10% | ' |
Citizens Bank & Trust Co. [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 1,000 | 1,000 |
Outstanding Advances, Percent of Total | 0.00% | 0.00% |
Outstanding Deposits | 104 | 110 |
Outstanding Deposits, Percent of Total | 0.00% | 0.00% |
Points West Community Bank (NE) [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 11,204 | ' |
Outstanding Advances, Percent of Total | 0.10% | ' |
Outstanding Deposits | 77 | ' |
Outstanding Deposits, Percent of Total | 0.00% | ' |
Points West Community Bank (CO) [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 9,858 | ' |
Outstanding Advances, Percent of Total | 0.10% | ' |
Outstanding Deposits | 53 | ' |
Outstanding Deposits, Percent of Total | 0.00% | ' |
Fullerton National Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 5,093 | ' |
Outstanding Advances, Percent of Total | 0.00% | ' |
Outstanding Deposits | 9 | ' |
Outstanding Deposits, Percent of Total | 0.00% | ' |
Bankers Bank Of Kansas, NA [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 1,975 | 1,975 |
Outstanding Advances, Percent of Total | 0.00% | 0.00% |
Outstanding Deposits | 8 | 13 |
Outstanding Deposits, Percent of Total | 0.00% | 0.00% |
Bank of Estes Park [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 0 | ' |
Outstanding Advances, Percent of Total | 0.00% | ' |
Outstanding Deposits | 19 | ' |
Outstanding Deposits, Percent of Total | 0.00% | ' |
First Security Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | 0 | ' |
Outstanding Advances, Percent of Total | 0.00% | ' |
Outstanding Deposits | 38 | ' |
Outstanding Deposits, Percent of Total | 0.00% | ' |
Golden Belt Bank, FSA [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | ' | 10,887 |
Outstanding Advances, Percent of Total | ' | 0.10% |
Outstanding Deposits | ' | 3,247 |
Outstanding Deposits, Percent of Total | ' | 0.30% |
Morgan Federal Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | ' | 11,800 |
Outstanding Advances, Percent of Total | ' | 0.10% |
Outstanding Deposits | ' | $6,224 |
Outstanding Deposits, Percent of Total | ' | 0.50% |
Transactions_With_Stockholders6
Transactions With Stockholders And Housing Associates (Schedule Of Related Party Transactions, Mortgage Loans Disclosure) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Federal Home Loan Bank Member Banks Given Directorship [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Total Mortgage Loans | $66,533 | $257,370 |
Total Mortgage Loans, Percent of Total | 5.40% | 10.30% |
FirstBank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Total Mortgage Loans | 32,895 | 152,817 |
Total Mortgage Loans, Percent of Total | 2.70% | 6.10% |
Girard National Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Total Mortgage Loans | 17,137 | 28,000 |
Total Mortgage Loans, Percent of Total | 1.40% | 1.10% |
Vision Bank, NA [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Total Mortgage Loans | 0 | 6,498 |
Total Mortgage Loans, Percent of Total | 0.00% | 0.30% |
First State Bank Nebraska [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Total Mortgage Loans | 1,144 | 15,569 |
Total Mortgage Loans, Percent of Total | 0.10% | 0.60% |
NebraskaLand National Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Total Mortgage Loans | 5,107 | 12,427 |
Total Mortgage Loans, Percent of Total | 0.40% | 0.50% |
Bank Of Bennington [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Total Mortgage Loans | 8,785 | ' |
Total Mortgage Loans, Percent of Total | 0.70% | ' |
Citizens Bank & Trust Co. [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Total Mortgage Loans | 0 | 0 |
Total Mortgage Loans, Percent of Total | 0.00% | 0.00% |
Points West Community Bank (NE) [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Total Mortgage Loans | 0 | ' |
Total Mortgage Loans, Percent of Total | 0.00% | ' |
Points West Community Bank (CO) [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Total Mortgage Loans | 227 | ' |
Total Mortgage Loans, Percent of Total | 0.00% | ' |
Fullerton National Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Total Mortgage Loans | 1,238 | ' |
Total Mortgage Loans, Percent of Total | 0.10% | ' |
Bankers Bank Of Kansas, NA [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Total Mortgage Loans | 0 | 0 |
Total Mortgage Loans, Percent of Total | 0.00% | 0.00% |
Bank of Estes Park [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Total Mortgage Loans | 0 | ' |
Total Mortgage Loans, Percent of Total | 0.00% | ' |
First Security Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Total Mortgage Loans | 0 | ' |
Total Mortgage Loans, Percent of Total | 0.00% | ' |
Golden Belt Bank, FSA [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Total Mortgage Loans | ' | 32,083 |
Total Mortgage Loans, Percent of Total | ' | 1.30% |
Morgan Federal Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Total Mortgage Loans | ' | $9,976 |
Total Mortgage Loans, Percent of Total | ' | 0.40% |
Transactions_With_Other_FHLBan2
Transactions With Other FHLBanks (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Transactions With Other Federal Home Loan Banks [Line Items] | ' | ' | ' | |||
Average overnight interbank loan balances to other FHLBanks | $1,847 | [1] | $2,242 | [1] | $1,432 | [1] |
Average overnight interbank loan balances from other FHLBanks | 13,671 | [1] | 3,907 | [1] | 4,963 | [1] |
Average deposit balance with FHLBank of Chicago for shared expense transactions | 86 | [2] | 108 | [2] | 65 | [2] |
Average deposit balance with FHLBank of Chicago for MPF transactions | 2,029 | [2] | 1,139 | [2] | 23 | [2] |
Transaction charges paid to FHLBank of Chicago for transaction service fees | 3,126 | [3] | 2,879 | [3] | 2,334 | [3] |
Par amount of purchases of consolidated obligations issued on behalf of other FHLBanks | 150,500 | [4] | 0 | [4] | 0 | [4] |
Investment In Consolidated Obligations Of Other Federal Home Loan Banks Fair Value | 260,318 | 126,828 | ' | |||
Interest Income On Investments In Consolidated Obligations Of Other Federal Home Loan Banks | $7,151 | $5,582 | $5,582 | |||
Loans Originated After January 1, 2010 [Member] | ' | ' | ' | |||
Transactions With Other Federal Home Loan Banks [Line Items] | ' | ' | ' | |||
Basis points per annum to calculate fees on outstanding loans | 0.06% | 0.06% | 0.06% | |||
Loans Originated After January 4, 2004 and Before December 31, 2009 [Member] | ' | ' | ' | |||
Transactions With Other Federal Home Loan Banks [Line Items] | ' | ' | ' | |||
Basis points per annum to calculate fees on outstanding loans | 0.05% | 0.05% | 0.05% | |||
[1] | Occasionally, the FHLBank loans (or borrows) short-term funds to (from) other FHLBanks. Interest income on loans to other FHLBanks is included in Other Interest Income and interest expense on borrowings from other FHLBanks is included in Other Interest Expense on the Statements of Income. | |||||
[2] | Balance is interest bearing and is classified on the Statements of Condition as interest-bearing deposits. | |||||
[3] | Fees are calculated monthly based on 5.5 basis points per annum of outstanding loans originated since January 1, 2010 and are recorded in other expense. For outstanding loans originated since January 1, 2004 and through December 31, 2009, fees are calculated monthly based on 5.0 basis points per annum. | |||||
[4] | Purchases of consolidated obligations issued on behalf of one FHLBank and purchased by the FHLBank occur at market prices with third parties and are accounted for in the same manner as similarly classified investments. Outstanding fair value balances totaling $260,318,000 and $126,828,000 as of December 31, 2013 and December 31, 2012, respectively, are included in the non-MBS GSE obligations totals presented in Note 4. Interest income earned on these securities totaled $7,151,000 $5,582,000, and $5,582,000 for the years ended December 31, 2013, 2012, and 2011, respectively. |