Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | ||
Sep. 30, 2014 | Nov. 05, 2014 | Nov. 05, 2014 | |
Capital Stock Class A [Member] | Capital Stock Class B [Member] | ||
Entity Information [Line Items] | ' | ' | ' |
Document Type | '10-Q | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Sep-14 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'Q3 | ' | ' |
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 | ' | 1,884,269 | 9,201,143 |
Statements_Of_Condition
Statements Of Condition (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
ASSETS | ' | ' | ||
Cash and due from banks | $2,571,350 | $1,713,940 | ||
Interest-bearing deposits | 146 | 1,116 | ||
Securities purchased under agreements to resell (Note 11) | 1,075,000 | 0 | ||
Federal funds sold | 1,450,000 | 575,000 | ||
Investment securities: | ' | ' | ||
Trading securities (Note 3) | 1,476,212 | 2,704,777 | ||
Held-to-maturity securities (Note 3) | 5,074,263 | [1] | 5,423,659 | [1] |
Total investment securities | 6,550,475 | 8,128,436 | ||
Advances (Notes 4, 6) | 20,574,600 | 17,425,487 | ||
Mortgage loans held for portfolio, net: | ' | ' | ||
Mortgage loans held for portfolio (Notes 5, 6) | 6,169,413 | 5,956,228 | ||
Less allowance for credit losses on mortgage loans (Note 6) | -4,591 | -6,748 | ||
Mortgage loans held for portfolio, net | 6,164,822 | 5,949,480 | ||
Accrued interest receivable | 63,232 | 72,526 | ||
Premises, software and equipment, net | 10,869 | 11,146 | ||
Derivative assets, net (Notes 7, 11) | 26,098 | 27,957 | ||
Other assets | 41,452 | 45,216 | ||
TOTAL ASSETS | 38,528,044 | 33,950,304 | ||
LIABILITIES | ' | ' | ||
Deposits (Notes 8) | 677,069 | 961,888 | ||
Consolidated obligations, net: | ' | ' | ||
Discount notes (Note 9) | 15,947,588 | 10,889,565 | ||
Bonds (Note 9) | 20,025,472 | 20,056,964 | ||
Total consolidated obligations, net | 35,973,060 | 30,946,529 | ||
Mandatorily redeemable capital stock (Note 12) | 4,371 | 4,764 | ||
Accrued interest payable | 71,757 | 62,447 | ||
Affordable Housing Program payable (Note 10) | 31,944 | 35,264 | ||
Derivative liabilities, net (Notes 7, 11) | 51,417 | 108,353 | ||
Other liabilities | 28,028 | 29,839 | ||
TOTAL LIABILITIES | 36,837,646 | 32,149,084 | ||
Commitments and contingencies (Note 15) | ' | ' | ||
CAPITAL | ' | ' | ||
Total capital stock | 1,090,263 | 1,252,249 | ||
Retained earnings: | ' | ' | ||
Unrestricted | 547,555 | 515,589 | ||
Restricted | 67,637 | 51,743 | ||
Total retained earnings | 615,192 | 567,332 | ||
Accumulated other comprehensive income (loss) (Note 13) | -15,057 | -18,361 | ||
TOTAL CAPITAL | 1,690,398 | 1,801,220 | ||
TOTAL LIABILITIES AND CAPITAL | 38,528,044 | 33,950,304 | ||
Capital Stock Class A [Member] | ' | ' | ||
CAPITAL | ' | ' | ||
Total capital stock | 151,519 | 430,063 | ||
Retained earnings: | ' | ' | ||
TOTAL CAPITAL | 151,519 | [2] | 430,063 | [2] |
Capital Stock Class B [Member] | ' | ' | ||
CAPITAL | ' | ' | ||
Total capital stock | 938,744 | 822,186 | ||
Retained earnings: | ' | ' | ||
TOTAL CAPITAL | $938,744 | [2] | $822,186 | [2] |
[1] | Fair value:B $5,085,070 and $5,415,205 as of SeptemberB 30, 2014 and DecemberB 31, 2013, respectively. | |||
[2] | Putable |
Statements_Of_Condition_Parent
Statements Of Condition (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Per Share data, unless otherwise specified | ||
Held-to-maturity securities, Fair Value | $5,085,070 | $5,415,205 |
Capital Stock Class A [Member] | ' | ' |
Common Stock, Par or Stated Value Per Share | $100 | $100 |
Common Stock, Shares, Issued | 1,515 | 4,300 |
Common Stock, Shares Outstanding | 1,515 | 4,300 |
Capital Stock Class B [Member] | ' | ' |
Common Stock, Par or Stated Value Per Share | $100 | $100 |
Common Stock, Shares, Issued | 9,388 | 8,222 |
Common Stock, Shares Outstanding | 9,388 | 8,222 |
Statements_Of_Income
Statements Of Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
INTEREST INCOME: | ' | ' | ' | ' |
Interest-bearing deposits | $40 | $56 | $120 | $257 |
Securities purchased under agreements to resell | 96 | 42 | 138 | 821 |
Federal funds sold | 358 | 285 | 840 | 989 |
Trading securities | 12,330 | 14,285 | 37,972 | 42,483 |
Held-to-maturity securities | 11,271 | 14,408 | 35,663 | 44,222 |
Advances | 31,360 | 30,689 | 89,349 | 93,736 |
Prepayment fees on terminated advances | 107 | 287 | 931 | 3,529 |
Mortgage loans held for portfolio | 51,099 | 48,675 | 152,701 | 145,050 |
Other | 374 | 409 | 1,149 | 1,252 |
Total interest income | 107,035 | 109,136 | 318,863 | 332,339 |
INTEREST EXPENSE: | ' | ' | ' | ' |
Deposits | 166 | 179 | 604 | 768 |
Consolidated obligations: | ' | ' | ' | ' |
Discount notes | 2,688 | 2,041 | 6,250 | 6,746 |
Bonds | 47,552 | 52,319 | 144,488 | 166,037 |
Mandatorily redeemable capital stock (Note 12) | 13 | 6 | 29 | 19 |
Other | 44 | 45 | 127 | 121 |
Total interest expense | 50,463 | 54,590 | 151,498 | 173,691 |
NET INTEREST INCOME | 56,572 | 54,546 | 167,365 | 158,648 |
Provision (reversal) for credit losses on mortgage loans (Note 6) | 82 | 530 | -1,732 | 2,061 |
NET INTEREST INCOME AFTER MORTGAGE LOAN LOSS PROVISION | 56,490 | 54,016 | 169,097 | 156,587 |
OTHER INCOME (LOSS): | ' | ' | ' | ' |
Total other-than-temporary impairment losses on held-to-maturity securities | 0 | -5 | 0 | -19 |
Net amount of impairment losses on held-to-maturity securities reclassified to/(from) accumulated other comprehensive income (loss) | -20 | -295 | -443 | -433 |
Net other-than-temporary impairment losses on held-to-maturity securities (Note 3) | -20 | -300 | -443 | -452 |
Net gain (loss) on trading securities (Note 3) | -11,419 | -6,768 | -22,431 | -37,687 |
Net gain (loss) on derivatives and hedging activities (Note 7) | -2,218 | -5,592 | -26,551 | 2,875 |
Standby bond purchase agreement commitment fees | 1,594 | 1,408 | 4,711 | 3,774 |
Letters of credit fees | 757 | 736 | 2,349 | 2,298 |
Other | 501 | 685 | 1,734 | 1,613 |
Total other income (loss) | -10,805 | -9,831 | -40,631 | -27,579 |
OTHER EXPENSES: | ' | ' | ' | ' |
Compensation and benefits | 8,779 | 6,879 | 22,973 | 20,208 |
Other operating | 3,016 | 3,364 | 9,914 | 10,206 |
Federal Housing Finance Agency | 564 | 481 | 1,854 | 1,698 |
Office of Finance | 541 | 622 | 1,662 | 1,844 |
Other | 980 | 1,084 | 3,759 | 3,872 |
Total other expenses | 13,880 | 12,430 | 40,162 | 37,828 |
INCOME BEFORE ASSESSMENTS | 31,805 | 31,755 | 88,304 | 91,180 |
Affordable Housing Program (Note 10) | 3,181 | 3,176 | 8,833 | 9,120 |
NET INCOME | $28,624 | $28,579 | $79,471 | $82,060 |
Statements_Of_Comprehensive_In
Statements Of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Net income | $28,624 | $28,579 | $79,471 | $82,060 | ||||
Net non-credit portion of other than temporary impairment losses on held-to-maturity securities: | ' | ' | ' | ' | ||||
Non-credit portion | 0 | -5 | 0 | -19 | ||||
Reclassification of non-credit portion included in net income | 20 | [1] | 300 | [1] | 443 | [1] | 452 | [1] |
Accretion of non-credit portion | 1,002 | 738 | 2,734 | 3,467 | ||||
Total net non-credit potion of other-than-temporary impairment losses on held-to-maturity securities | 1,022 | 1,033 | 3,177 | 3,900 | ||||
Defined benefit pension plan: | ' | ' | ' | ' | ||||
Amortization of net loss | 38 | [2] | 101 | [2] | 127 | [2] | 302 | [2] |
Total defined benefit pension plan | 38 | 101 | 127 | 302 | ||||
Total other comprehensive income | 1,060 | 1,134 | 3,304 | 4,202 | ||||
TOTAL COMPREHENSIVE INCOME | $29,684 | $29,713 | $82,775 | $86,262 | ||||
[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 $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Stockholders' Equity Attributable to Parent, Beginning Balance | ' | ' | $1,801,220 | $1,720,481 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ||||
Proceeds from issuance of capital stock | ' | ' | 629,051 | 386,684 | ||||
Repurchase/redemption of capital stock | ' | ' | -594,321 | -172,799 | ||||
Comprehensive income | 29,684 | 29,713 | 82,775 | 86,262 | ||||
Net reclassification of shares to mandatorily redeemable capital stock | ' | ' | -228,102 | -207,150 | ||||
Net transfer of shares between Class A and Class B | ' | ' | 0 | 0 | ||||
Dividends on capital stock | ' | ' | ' | ' | ||||
Cash payment | ' | ' | -225 | -214 | ||||
Stock Issued | ' | ' | 0 | 0 | ||||
Stockholders' Equity Attributable to Parent, Ending Balance | 1,690,398 | 1,813,264 | 1,690,398 | 1,813,264 | ||||
Total Capital Stock [Member] | ' | ' | ' | ' | ||||
BALANCE, shares | ' | ' | 12,522 | [1] | 12,645 | [1] | ||
Stockholders' Equity Attributable to Parent, Beginning Balance | ' | ' | 1,252,249 | [1] | 1,264,456 | [1] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ||||
Proceeds from issuance of capital stock, shares | ' | ' | 6,291 | [1] | 3,866 | [1] | ||
Proceeds from issuance of capital stock | ' | ' | 629,051 | [1] | 386,684 | [1] | ||
Repurchase/redemption of capital stock, shares | ' | ' | -5,943 | [1] | -1,728 | [1] | ||
Repurchase/redemption of capital stock | ' | ' | -594,321 | [1] | -172,799 | [1] | ||
Net reclassification of shares to mandatorily redeemable capital stock, shares | ' | ' | -2,281 | [1] | -2,072 | [1] | ||
Net reclassification of shares to mandatorily redeemable capital stock | ' | ' | -228,102 | [1] | -207,150 | [1] | ||
Net transfer of shares between Class A and Class B, shares | ' | ' | 0 | [1] | 0 | [1] | ||
Net transfer of shares between Class A and Class B | ' | ' | 0 | [1] | 0 | [1] | ||
Dividends on capital stock | ' | ' | ' | ' | ||||
Stock issued, shares | ' | ' | 314 | [1] | 245 | [1] | ||
Stock Issued | ' | ' | 31,386 | [1] | 24,478 | [1] | ||
BALANCE, shares | 10,903 | [1] | 12,956 | [1] | 10,903 | [1] | 12,956 | [1] |
Stockholders' Equity Attributable to Parent, Ending Balance | 1,090,263 | [1] | 1,295,669 | [1] | 1,090,263 | [1] | 1,295,669 | [1] |
Total Retained Earnings [Member] | ' | ' | ' | ' | ||||
Stockholders' Equity Attributable to Parent, Beginning Balance | ' | ' | 567,332 | 481,282 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ||||
Comprehensive income | ' | ' | 79,471 | 82,060 | ||||
Dividends on capital stock | ' | ' | ' | ' | ||||
Cash payment | ' | ' | -225 | -214 | ||||
Stock issued | ' | ' | -31,386 | -24,478 | ||||
Stockholders' Equity Attributable to Parent, Ending Balance | 615,192 | 538,650 | 615,192 | 538,650 | ||||
Unrestricted Retained Earnings [Member] | ' | ' | ' | ' | ||||
Stockholders' Equity Attributable to Parent, Beginning Balance | ' | ' | 515,589 | 453,346 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ||||
Comprehensive income | ' | ' | 63,577 | 65,649 | ||||
Dividends on capital stock | ' | ' | ' | ' | ||||
Cash payment | ' | ' | -225 | -214 | ||||
Stock issued | ' | ' | -31,386 | -24,478 | ||||
Stockholders' Equity Attributable to Parent, Ending Balance | 547,555 | 494,303 | 547,555 | 494,303 | ||||
Restricted Retained Earnings [Member] | ' | ' | ' | ' | ||||
Stockholders' Equity Attributable to Parent, Beginning Balance | ' | ' | 51,743 | 27,936 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ||||
Comprehensive income | ' | ' | 15,894 | 16,411 | ||||
Dividends on capital stock | ' | ' | ' | ' | ||||
Stockholders' Equity Attributable to Parent, Ending Balance | 67,637 | 44,347 | 67,637 | 44,347 | ||||
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' | ' | ||||
Stockholders' Equity Attributable to Parent, Beginning Balance | ' | ' | -18,361 | -25,257 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ||||
Comprehensive income | ' | ' | 3,304 | 4,202 | ||||
Dividends on capital stock | ' | ' | ' | ' | ||||
Stockholders' Equity Attributable to Parent, Ending Balance | -15,057 | -21,055 | -15,057 | -21,055 | ||||
Capital Stock Class A [Member] | ' | ' | ' | ' | ||||
BALANCE, shares | ' | ' | 4,300 | [1] | 4,053 | [1] | ||
Stockholders' Equity Attributable to Parent, Beginning Balance | ' | ' | 430,063 | [1] | 405,304 | [1] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ||||
Proceeds from issuance of capital stock, shares | ' | ' | 12 | [1] | 8 | [1] | ||
Proceeds from issuance of capital stock | ' | ' | 1,161 | [1] | 827 | [1] | ||
Repurchase/redemption of capital stock, shares | ' | ' | -5,850 | [1] | -1,594 | [1] | ||
Repurchase/redemption of capital stock | ' | ' | -584,978 | [1] | -159,414 | [1] | ||
Net reclassification of shares to mandatorily redeemable capital stock, shares | ' | ' | -77 | [1] | -290 | [1] | ||
Net reclassification of shares to mandatorily redeemable capital stock | ' | ' | -7,711 | [1] | -28,973 | [1] | ||
Net transfer of shares between Class A and Class B, shares | ' | ' | 3,130 | [1] | 2,097 | [1] | ||
Net transfer of shares between Class A and Class B | ' | ' | 312,984 | [1] | 209,697 | [1] | ||
Dividends on capital stock | ' | ' | ' | ' | ||||
BALANCE, shares | 1,515 | [1] | 4,274 | [1] | 1,515 | [1] | 4,274 | [1] |
Stockholders' Equity Attributable to Parent, Ending Balance | 151,519 | [1] | 427,441 | [1] | 151,519 | [1] | 427,441 | [1] |
Capital Stock Class B [Member] | ' | ' | ' | ' | ||||
BALANCE, shares | ' | ' | 8,222 | [1] | 8,592 | [1] | ||
Stockholders' Equity Attributable to Parent, Beginning Balance | ' | ' | 822,186 | [1] | 859,152 | [1] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ||||
Proceeds from issuance of capital stock, shares | ' | ' | 6,279 | [1] | 3,858 | [1] | ||
Proceeds from issuance of capital stock | ' | ' | 627,890 | [1] | 385,857 | [1] | ||
Repurchase/redemption of capital stock, shares | ' | ' | -93 | [1] | -134 | [1] | ||
Repurchase/redemption of capital stock | ' | ' | -9,343 | [1] | -13,385 | [1] | ||
Net reclassification of shares to mandatorily redeemable capital stock, shares | ' | ' | -2,204 | [1] | -1,782 | [1] | ||
Net reclassification of shares to mandatorily redeemable capital stock | ' | ' | -220,391 | [1] | -178,177 | [1] | ||
Net transfer of shares between Class A and Class B, shares | ' | ' | -3,130 | [1] | -2,097 | [1] | ||
Net transfer of shares between Class A and Class B | ' | ' | -312,984 | [1] | -209,697 | [1] | ||
Dividends on capital stock | ' | ' | ' | ' | ||||
Stock issued, shares | ' | ' | 314 | [1] | 245 | [1] | ||
Stock Issued | ' | ' | 31,386 | [1] | 24,478 | [1] | ||
BALANCE, shares | 9,388 | [1] | 8,682 | [1] | 9,388 | [1] | 8,682 | [1] |
Stockholders' Equity Attributable to Parent, Ending Balance | $938,744 | [1] | $868,228 | [1] | $938,744 | [1] | $868,228 | [1] |
[1] | Putable |
Statements_Of_Capital_Parenthe
Statements Of Capital (Parenthetical) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Rate | Rate | |
Capital Stock Class A [Member] | ' | ' |
Stock dividend rate percentage | 0.60% | 0.30% |
Capital Stock Class B [Member] | ' | ' |
Stock dividend rate percentage | 5.00% | 3.50% |
Statements_Of_Cash_Flows
Statements Of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
Net income | $79,471 | $82,060 |
Adjustments to reconcile income (loss) to net cash provided by (used in) operating activities: | ' | ' |
Premiums and discounts on consolidated obligations, net | -12,246 | -22,913 |
Concessions on consolidated obligations | 3,774 | 4,956 |
Premiums and discounts on investments, net | -232 | -1,178 |
Premiums, discounts and commitment fees on advances, net | -9,306 | -11,375 |
Premiums, discounts and deferred loan costs on mortgage loans, net | 11,178 | 16,772 |
Fair value adjustments on hedged assets or liabilities | 9,214 | 11,436 |
Premises, software and equipment | 1,345 | 1,470 |
Other | 127 | 302 |
Provision (reversal) for credit losses on mortgage loans | -1,732 | 2,061 |
Non-cash interest on mandatorily redeemable capital stock | 27 | 18 |
Net other-than-temporary impairment losses on held-to-maturity securities | 443 | 452 |
Net realized (gain) loss on sale of premises and equipment | 6 | -19 |
Other (gains) losses | 105 | 114 |
Net gain (loss) on trading securities | 22,431 | 37,687 |
(Gain) loss due to change in net fair value adjustment on derivative and hedging activities | 47,674 | 11,963 |
(Increase) decrease in accrued interest receivable | 9,331 | 13,766 |
Change in net accrued interest included in derivative assets | 4,841 | -213 |
(Increase) decrease in other assets | 2,076 | 2,048 |
Increase (decrease) in accrued interest payable | 9,308 | -612 |
Change in net accrued interest included in derivative liabilities | -19,874 | -16,832 |
Increase (decrease) in Affordable Housing Program liability | -3,320 | 2,031 |
Increase (decrease) in other liabilities | -2,306 | -862 |
Total adjustments | 72,864 | 51,072 |
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 152,335 | 133,132 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Net (increase) decrease in interest-bearing deposits | 61,924 | 99,746 |
Net (increase) decrease in securities purchased under resale agreements | -1,075,000 | 1,399,288 |
Net (increase) decrease in Federal funds sold | -875,000 | 305,000 |
Net (increase) decrease in short-term trading securities | 260,000 | -539,914 |
Proceeds from maturities of and principal repayments on long-term trading securities | 946,134 | 264,772 |
Purchases of long-term trading securities | 0 | -500,279 |
Proceeds from maturities of and principal repayments on long-term held-to-maturity securities | 693,339 | 1,185,321 |
Purchases of long-term held-to-maturity securities | -340,977 | -1,645,872 |
Principal collected on advances | 42,425,603 | 54,345,379 |
Advances made | -45,643,549 | -56,722,373 |
Principal collected on mortgage loans | 572,403 | 1,029,054 |
Purchase of mortgage loans | -799,769 | -1,030,602 |
Proceeds from sale of foreclosed assets | 4,009 | 3,556 |
Principal collected on other loans made | 1,572 | 1,469 |
Proceeds from sale of premises, software and equipment | 2 | 47 |
Purchases of premises, software and equipment | -1,076 | -3,679 |
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | -3,770,385 | -1,809,087 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Net increase (decrease) in deposits | -283,055 | -419,122 |
Net proceeds from issuance of consolidated obligations: | ' | ' |
Discount notes | 41,055,791 | 72,658,386 |
Bonds | 7,182,363 | 6,361,367 |
Payments for maturing and retired consolidated obligations: | ' | ' |
Discount notes | -35,998,826 | -69,141,787 |
Bonds | -7,237,500 | -7,146,000 |
Proceeds from financing derivatives | 0 | 170 |
Net interest payments received (paid) for financing derivatives | -49,296 | -50,233 |
Proceeds from issuance of capital stock | 629,051 | 386,684 |
Payments for repurchase/redemption of capital stock | -594,321 | -172,799 |
Payments for repurchase of mandatorily redeemable capital stock | -228,522 | -207,649 |
Cash dividends paid | -225 | -214 |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 4,475,460 | 2,268,803 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 857,410 | 592,848 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 1,713,940 | 369,997 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 2,571,350 | 962,845 |
Supplemental disclosures: | ' | ' |
Interest paid | 150,276 | 182,984 |
Affordable Housing Program payments | 12,372 | 7,298 |
Net transfers of mortgage loans to real estate owned | $3,590 | $4,724 |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
BASIS OF PRESENTATION | |
Basis of Presentation: The accompanying interim financial statements of the FHLBank are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and with the instruction provided by Article 10, Rule 10-01 of Regulation S-X. The financial statements contain all adjustments which are, in the opinion of management, necessary for a fair statement of the FHLBank’s financial position, results of operations and cash flows for the interim periods presented. All such adjustments were of a normal recurring nature. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full fiscal year or any other interim period. | |
The FHLBank’s significant accounting policies and certain other disclosures are set forth in the notes to the audited financial statements for the year ended December 31, 2013. The interim financial statements presented herein should be read in conjunction with the FHLBank’s audited financial statements and notes thereto, which are included in the FHLBank’s annual report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 14, 2014 (annual report on Form 10-K). The notes to the interim financial statements highlight significant changes to the notes included in the annual report on Form 10-K. | |
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 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. | |
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, total comprehensive income, total capital or cash flows. |
Recently_Issued_Accounting_Sta
Recently Issued Accounting Standards And Interpretations And Changes In And Adoptions Of Accounting Principles | 9 Months Ended |
Sep. 30, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
Recently Issued Accounting Standards And Interpretations And Changes In And Adoptions Of Accounting Principles | ' |
RECENTLY ISSUED ACCOUNTING STANDARDS AND INTERPRETATIONS AND CHANGES IN AND ADOPTIONS OF ACCOUNTING PRINCIPLES | |
Classification of Certain Government-Guaranteed Mortgage Loans Upon Foreclosure. In August 2014, the Financial Accounting Standards Board (FASB) issued guidance to change the accounting for government-guaranteed mortgage loans, including Federal Housing Administration (FHA) and the U.S. Department of Veterans Affairs (VA) loans. The amendments require that a mortgage loan be derecognized and a separate receivable be recognized upon foreclosure if: (1) the loan has a government guarantee that is not separable from the loan before foreclosure; (2) at the time of foreclosure, the creditor has the intent to convey the property to the guarantor and make a claim on that guarantee and the ability to recover under that claim; and (3) at the time of foreclosure, any amount of the claim determined on the basis of fair value is fixed. This receivable should be based upon the principal and interested expected to be recovered from the guarantor. The amendments are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014, which is January 1, 2015 for the FHLBank. 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. | |
Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. In June 2014, the FASB issued guidance to change the accounting for repurchase-to-maturity transactions and linked repurchase financings to that of secured borrowings, which is consistent with the accounting for repurchase agreements. The amendments also require two new disclosures:(1) information about transfers accounted for as sales in transactions that are economically similar to repurchase agreements; and (2) increased transparency about the types of collateral pledged for repurchase agreements and similar transactions accounted for as secured borrowings. The amendments are effective for the first interim or annual period beginning after December 15, 2014, which is January 1, 2015 for the FHLBank. 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. | |
Revenue Recognition. In May 2014, the FASB issued guidance to introduce a new revenue recognition model in which an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance also requires disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. This standard is effective for fiscal years beginning after December 15, 2016 (January 1, 2017 for the FHLBank), including interim periods within that reporting period. The FHLBank is currently evaluating the new guidance to determine the impact it will have, if any, on its financial condition, results of operations, or cash flows. | |
Receivables - Troubled Debt Restructurings by Creditors. In January 2014, the 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. | |
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 was effective for interim and annual periods beginning on or after December 15, 2013 (January 1, 2014 for the FHLBank) and was applied retrospectively to obligations with joint and several liabilities existing at the beginning of the current fiscal year. The adoption of this guidance did not have a material effect on the FHLBank’s financial condition, results of operations, or cash flows. |
Investment_Securities
Investment Securities | 9 Months Ended | |||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||
Investment Securities | ' | |||||||||||||||||||||
INVESTMENT SECURITIES | ||||||||||||||||||||||
Major Security Types: Trading and held-to-maturity securities as of September 30, 2014 are summarized in Table 3.1 (in thousands): | ||||||||||||||||||||||
Table 3.1 | ||||||||||||||||||||||
9/30/14 | ||||||||||||||||||||||
Trading | Held-to-maturity | |||||||||||||||||||||
Fair | Amortized | OTTI | Carrying Value | Gross | Gross | Fair | ||||||||||||||||
Value | Cost | Recognized | Unrecognized | Unrecognized | Value | |||||||||||||||||
in OCI | Gains | Losses | ||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
U.S. Treasury obligations | $ | 25,031 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||
Government-sponsored enterprise obligations1,2 | 1,306,245 | — | — | — | — | — | — | |||||||||||||||
State or local housing agency obligations | — | 130,341 | — | 130,341 | 151 | 6,594 | 123,898 | |||||||||||||||
Non-mortgage-backed securities | 1,331,276 | 130,341 | — | 130,341 | 151 | 6,594 | 123,898 | |||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||
U.S. obligation residential3 | 986 | 60,190 | — | 60,190 | 106 | — | 60,296 | |||||||||||||||
Government-sponsored enterprise residential4 | 143,950 | 4,630,825 | — | 4,630,825 | 29,706 | 17,181 | 4,643,350 | |||||||||||||||
Private-label mortgage-backed securities: | ||||||||||||||||||||||
Residential loans | — | 264,554 | 12,755 | 251,799 | 10,316 | 7,142 | 254,973 | |||||||||||||||
Home equity loans | — | 1,179 | 71 | 1,108 | 1,445 | — | 2,553 | |||||||||||||||
Mortgage-backed securities | 144,936 | 4,956,748 | 12,826 | 4,943,922 | 41,573 | 24,323 | 4,961,172 | |||||||||||||||
TOTAL | $ | 1,476,212 | $ | 5,087,089 | $ | 12,826 | $ | 5,074,263 | $ | 41,724 | $ | 30,917 | $ | 5,085,070 | ||||||||
1 | Represents 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. | |||||||||||||||||||||
2 | See Note 17 for transactions with other FHLBanks. | |||||||||||||||||||||
3 | Represents MBS issued by Government National Mortgage Association (Ginnie Mae), which are guaranteed by the U.S. government. | |||||||||||||||||||||
4 | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | |||||||||||||||||||||
Trading and held-to-maturity securities as of December 31, 2013 are summarized in Table 3.2 (in thousands): | ||||||||||||||||||||||
Table 3.2 | ||||||||||||||||||||||
12/31/13 | ||||||||||||||||||||||
Trading | Held-to-maturity | |||||||||||||||||||||
Fair | Amortized | OTTI | Carrying Value | Gross | Gross | Fair | ||||||||||||||||
Value | Cost | Recognized | 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 | — | 331,158 | 15,825 | 315,333 | 12,459 | 8,691 | 319,101 | |||||||||||||||
Home equity loans | — | 1,406 | 178 | 1,228 | 1,539 | — | 2,767 | |||||||||||||||
Mortgage-backed securities | 171,790 | 5,376,190 | 16,003 | 5,360,187 | 35,959 | 35,813 | 5,360,333 | |||||||||||||||
TOTAL | $ | 2,704,777 | $ | 5,439,662 | $ | 16,003 | $ | 5,423,659 | $ | 35,978 | $ | 44,432 | $ | 5,415,205 | ||||||||
1 | Represents 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. | |||||||||||||||||||||
2 | See Note 17 for transactions with other FHLBanks. | |||||||||||||||||||||
3 | Represents MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | |||||||||||||||||||||
4 | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | |||||||||||||||||||||
Table 3.3 summarizes (in thousands) the held-to-maturity securities with unrealized losses as of September 30, 2014. The unrealized losses are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. | ||||||||||||||||||||||
Table 3.3 | ||||||||||||||||||||||
9/30/14 | ||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
State or local housing agency obligations | $ | 6,143 | $ | 34 | $ | 38,175 | $ | 6,560 | $ | 44,318 | $ | 6,594 | ||||||||||
Non-mortgage-backed securities | 6,143 | 34 | 38,175 | 6,560 | 44,318 | 6,594 | ||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||
Government-sponsored enterprise residential1 | 306,369 | 1,355 | 1,142,550 | 15,826 | 1,448,919 | 17,181 | ||||||||||||||||
Private-label mortgage-backed securities: | ||||||||||||||||||||||
Residential loans | 19,133 | 88 | 144,439 | 11,513 | 163,572 | 11,601 | ||||||||||||||||
Mortgage-backed securities | 325,502 | 1,443 | 1,286,989 | 27,339 | 1,612,491 | 28,782 | ||||||||||||||||
TOTAL TEMPORARILY IMPAIRED SECURITIES | $ | 331,645 | $ | 1,477 | $ | 1,325,164 | $ | 33,899 | $ | 1,656,809 | $ | 35,376 | ||||||||||
1 | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | |||||||||||||||||||||
Table 3.4 summarizes (in thousands) the held-to-maturity securities with unrealized losses as of December 31, 2013. The unrealized losses are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. | ||||||||||||||||||||||
Table 3.4 | ||||||||||||||||||||||
12/31/13 | ||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||
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 | ||||||||||
1 | Represents MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | |||||||||||||||||||||
2 | Represents 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 September 30, 2014 and December 31, 2013 are shown in Table 3.5 (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 3.5 | ||||||||||||||||||||||
9/30/14 | 12/31/13 | |||||||||||||||||||||
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 | 18,625 | 18,625 | 18,436 | 21,240 | 21,240 | 19,582 | ||||||||||||||||
Due after 10 years | 111,716 | 111,716 | 105,462 | 42,232 | 42,232 | 35,290 | ||||||||||||||||
Non-mortgage-backed securities | 130,341 | 130,341 | 123,898 | 63,472 | 63,472 | 54,872 | ||||||||||||||||
Mortgage-backed securities | 4,956,748 | 4,943,922 | 4,961,172 | 5,376,190 | 5,360,187 | 5,360,333 | ||||||||||||||||
TOTAL | $ | 5,087,089 | $ | 5,074,263 | $ | 5,085,070 | $ | 5,439,662 | $ | 5,423,659 | $ | 5,415,205 | ||||||||||
Interest Rate Payment Terms: Table 3.6 details interest rate payment terms for the amortized cost of held-to-maturity securities as of September 30, 2014 and December 31, 2013 (in thousands): | ||||||||||||||||||||||
Table 3.6 | ||||||||||||||||||||||
9/30/14 | 12/31/13 | |||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
Fixed rate | $ | 10,751 | $ | 12,232 | ||||||||||||||||||
Variable rate | 119,590 | 51,240 | ||||||||||||||||||||
Non-mortgage-backed securities | 130,341 | 63,472 | ||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||
Pass-through securities: | ||||||||||||||||||||||
Fixed rate | 34 | 78 | ||||||||||||||||||||
Variable rate | 1,208,896 | 1,298,146 | ||||||||||||||||||||
Collateralized mortgage obligations: | ||||||||||||||||||||||
Fixed rate | 454,322 | 541,126 | ||||||||||||||||||||
Variable rate | 3,293,496 | 3,536,840 | ||||||||||||||||||||
Mortgage-backed securities | 4,956,748 | 5,376,190 | ||||||||||||||||||||
TOTAL | $ | 5,087,089 | $ | 5,439,662 | ||||||||||||||||||
Gains and Losses: Net gains (losses) on trading securities during the three and nine months ended September 30, 2014 and 2013 are shown in Table 3.7 (in thousands): | ||||||||||||||||||||||
Table 3.7 | ||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||
9/30/14 | 9/30/13 | 9/30/14 | 9/30/13 | |||||||||||||||||||
Net gains (losses) on trading securities held as of September 30, 2014 | $ | (11,414 | ) | $ | (5,296 | ) | $ | (21,812 | ) | $ | (33,925 | ) | ||||||||||
Net gains (losses) on trading securities sold or matured prior to September 30, 2014 | (5 | ) | (1,472 | ) | (619 | ) | (3,762 | ) | ||||||||||||||
NET GAIN (LOSS) ON TRADING SECURITIES | $ | (11,419 | ) | $ | (6,768 | ) | $ | (22,431 | ) | $ | (37,687 | ) | ||||||||||
Other-than-temporary Impairment: For those securities for which an OTTI was determined to have occurred as of September 30, 2014 (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 3.8 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/asset-backed securities (ABS) investments in each category shown. 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 a Nationally Recognized Statistical Rating Organization (NRSRO) upon issuance of the MBS/ABS. | ||||||||||||||||||||||
Table 3.8 | ||||||||||||||||||||||
Private-label residential MBS | ||||||||||||||||||||||
Year of Securitization | Significant Inputs | Current | ||||||||||||||||||||
Credit | ||||||||||||||||||||||
Prepayment | Default | Loss | Enhancements | |||||||||||||||||||
Rates | Rates | Severities | ||||||||||||||||||||
Prime: | ||||||||||||||||||||||
2004 and prior | 16.1 | % | 10.4 | % | 30.8 | % | 27.4 | % | ||||||||||||||
Alt-A: | ||||||||||||||||||||||
2004 and prior | 16.7 | 12.2 | 34.3 | 11.3 | ||||||||||||||||||
2005 | 15.9 | 9.5 | 34.4 | 4.1 | ||||||||||||||||||
Total Alt-A | 16.2 | 10.3 | 34.4 | 6.4 | ||||||||||||||||||
TOTAL | 16.2 | % | 10.3 | % | 34.4 | % | 6.6 | % | ||||||||||||||
Home Equity Loan ABS | ||||||||||||||||||||||
Year of Securitization | Significant Inputs | Current | ||||||||||||||||||||
Credit | ||||||||||||||||||||||
Prepayment | Default | Loss | Enhancements | |||||||||||||||||||
Rates | Rates | Severities | ||||||||||||||||||||
Subprime: | ||||||||||||||||||||||
2004 and prior | 1.1 | % | 7.8 | % | 84.9 | % | 15.8 | % | ||||||||||||||
For the 26 outstanding private-label securities with OTTI during the lives of the securities, the FHLBank’s reported balances as of September 30, 2014 are presented in Table 3.9 (in thousands): | ||||||||||||||||||||||
Table 3.9 | ||||||||||||||||||||||
9/30/14 | ||||||||||||||||||||||
Unpaid | Amortized | Carrying | Fair | |||||||||||||||||||
Principal | Cost | Value | Value | |||||||||||||||||||
Balance | ||||||||||||||||||||||
Private-label residential MBS: | ||||||||||||||||||||||
Prime | $ | 14,092 | $ | 13,221 | $ | 12,106 | $ | 13,295 | ||||||||||||||
Alt-A | 60,625 | 54,809 | 43,169 | 51,120 | ||||||||||||||||||
Total private-label residential MBS | 74,717 | 68,030 | 55,275 | 64,415 | ||||||||||||||||||
Home equity loans: | ||||||||||||||||||||||
Subprime | 2,977 | 1,179 | 1,108 | 2,553 | ||||||||||||||||||
TOTAL | $ | 77,694 | $ | 69,209 | $ | 56,383 | $ | 66,968 | ||||||||||||||
Table 3.10 presents a roll-forward of OTTI activity for the three and nine months ended September 30, 2014 and 2013 related to credit losses recognized in earnings (in thousands): | ||||||||||||||||||||||
Table 3.10 | ||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||
9/30/14 | 9/30/13 | 9/30/14 | 9/30/13 | |||||||||||||||||||
Balance, beginning of period | $ | 9,560 | $ | 10,698 | $ | 9,917 | $ | 11,291 | ||||||||||||||
Additional charge on securities for which OTTI was previously recognized1 | 20 | 300 | 443 | 452 | ||||||||||||||||||
Amortization of credit component of OTTI2 | (89 | ) | (762 | ) | (869 | ) | (1,507 | ) | ||||||||||||||
Balance, end of period | $ | 9,491 | $ | 10,236 | $ | 9,491 | $ | 10,236 | ||||||||||||||
1 | For the three months ended September 30, 2014 and 2013, securities previously impaired represent all securities that were impaired prior to July 1, 2014 and 2013, respectively. For the nine months ended September 30, 2014 and 2013, securities previously impaired represent all securities that were impaired prior to January 1, 2014 and 2013, 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. | |||||||||||||||||||||
As of September 30, 2014, the fair value of a portion of the FHLBank’s held-to-maturity MBS 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. For state and local housing agency obligations, the FHLBank determined that all of the gross unrealized losses on these bonds were temporary because the strength of the underlying collateral and credit enhancements was sufficient to protect the FHLBank from losses based on current expectations. |
Advances
Advances | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Advances [Abstract] | ' | ||||||||||||
Advances | ' | ||||||||||||
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. As of September 30, 2014 and December 31, 2013, the FHLBank had advances outstanding at interest rates ranging from 0.12 percent to 8.01 percent and 0.11 percent to 8.01 percent, respectively. Table 4.1 presents advances summarized by year of contractual maturity as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||
Table 4.1 | |||||||||||||
9/30/14 | 12/31/13 | ||||||||||||
Year of Contractual Maturity | Amount | Weighted Average Interest Rate | Amount | Weighted Average Interest Rate | |||||||||
Due in one year or less | $ | 9,502,514 | 0.57 | % | $ | 5,431,364 | 0.77 | % | |||||
Due after one year through two years | 1,455,970 | 2.14 | 1,643,200 | 1.77 | |||||||||
Due after two years through three years | 1,692,486 | 2.59 | 1,650,222 | 1.98 | |||||||||
Due after three years through four years | 1,900,952 | 2.55 | 2,353,661 | 2.59 | |||||||||
Due after four years through five years | 1,071,416 | 1.39 | 1,302,199 | 2.42 | |||||||||
Thereafter | 4,788,697 | 1.23 | 4,812,973 | 1.09 | |||||||||
Total par value | 20,412,035 | 1.23 | % | 17,193,619 | 1.45 | % | |||||||
Discounts | (27,989 | ) | (36,782 | ) | |||||||||
Hedging adjustments | 190,554 | 268,650 | |||||||||||
TOTAL | $ | 20,574,600 | $ | 17,425,487 | |||||||||
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 September 30, 2014 and December 31, 2013 include callable advances totaling $4,592,551,000 and $5,056,133,000, respectively. Of these callable advances, there were $4,463,796,000 and $4,932,869,000 of variable rate advances as of September 30, 2014 and December 31, 2013, 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 September 30, 2014 and December 31, 2013, the FHLBank had convertible advances outstanding totaling $1,656,242,000 and $1,685,242,000, respectively. | |||||||||||||
Table 4.2 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 September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||
Table 4.2 | |||||||||||||
Year of Contractual Maturity | Year of Contractual Maturity | ||||||||||||
or Next Call Date | or Next Conversion Date | ||||||||||||
Redemption Term | 9/30/14 | 12/31/13 | 9/30/14 | 12/31/13 | |||||||||
Due in one year or less | $ | 13,766,143 | $ | 10,172,524 | $ | 11,037,156 | $ | 7,038,106 | |||||
Due after one year through two years | 1,256,402 | 1,392,527 | 1,325,720 | 1,555,100 | |||||||||
Due after two years through three years | 1,498,853 | 1,175,623 | 1,266,886 | 1,528,722 | |||||||||
Due after three years through four years | 1,533,311 | 1,856,012 | 1,051,660 | 1,381,719 | |||||||||
Due after four years through five years | 672,595 | 1,062,253 | 1,058,416 | 979,999 | |||||||||
Thereafter | 1,684,731 | 1,534,680 | 4,672,197 | 4,709,973 | |||||||||
TOTAL PAR VALUE | $ | 20,412,035 | $ | 17,193,619 | $ | 20,412,035 | $ | 17,193,619 | |||||
Interest Rate Payment Terms: Table 4.3 details additional interest rate payment terms for advances as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||
Table 4.3 | |||||||||||||
9/30/14 | 12/31/13 | ||||||||||||
Fixed rate: | |||||||||||||
Due in one year or less | $ | 1,885,334 | $ | 1,733,559 | |||||||||
Due after one year | 6,621,162 | 6,923,555 | |||||||||||
Total fixed rate | 8,506,496 | 8,657,114 | |||||||||||
Variable rate: | |||||||||||||
Due in one year or less | 7,617,180 | 3,697,805 | |||||||||||
Due after one year | 4,288,359 | 4,838,700 | |||||||||||
Total variable rate | 11,905,539 | 8,536,505 | |||||||||||
TOTAL PAR VALUE | $ | 20,412,035 | $ | 17,193,619 | |||||||||
See Note 6 for information related to the FHLBank’s credit risk on advances and allowance for credit losses. |
Mortgage_Loans
Mortgage Loans | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Mortgage Loans on Real Estate [Abstract] | ' | ||||||
Mortgage Loans | ' | ||||||
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 FHA, the 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 Portfolio: Table 5.1 presents information as of September 30, 2014 and December 31, 2013 on mortgage loans held for portfolio (in thousands): | |||||||
Table 5.1 | |||||||
9/30/14 | 12/31/13 | ||||||
Real estate: | |||||||
Fixed rate, medium-term1, single-family mortgages | $ | 1,547,993 | $ | 1,611,289 | |||
Fixed rate, long-term, single-family mortgages | 4,516,799 | 4,245,351 | |||||
Total unpaid principal balance | 6,064,792 | 5,856,640 | |||||
Premiums | 99,213 | 95,755 | |||||
Discounts | (3,180 | ) | (3,659 | ) | |||
Deferred loan costs, net | 879 | 1,087 | |||||
Other deferred fees | (175 | ) | (212 | ) | |||
Hedging adjustments | 7,884 | 6,617 | |||||
Total before Allowance for Credit Losses on Mortgage Loans | 6,169,413 | 5,956,228 | |||||
Allowance for Credit Losses on Mortgage Loans | (4,591 | ) | (6,748 | ) | |||
MORTGAGE LOANS HELD FOR PORTFOLIO, NET | $ | 6,164,822 | $ | 5,949,480 | |||
1 | Medium-term defined as a term of 15 years or less at origination. | ||||||
Table 5.2 presents information as of September 30, 2014 and December 31, 2013 on the outstanding unpaid principal balance (UPB) of mortgage loans held for portfolio (in thousands): | |||||||
Table 5.2 | |||||||
9/30/14 | 12/31/13 | ||||||
Conventional loans | $ | 5,426,691 | $ | 5,212,048 | |||
Government-guaranteed or insured loans | 638,101 | 644,592 | |||||
TOTAL UNPAID PRINCIPAL BALANCE | $ | 6,064,792 | $ | 5,856,640 | |||
See Note 6 for information related to the FHLBank’s credit risk on mortgage loans and allowance for credit losses. |
Allowance_For_Credit_Losses
Allowance For Credit Losses | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Loans and Leases Receivable, Allowance [Abstract] | ' | |||||||||||||||
Allowance For Credit Losses | ' | |||||||||||||||
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. Based on management’s analyses of each portfolio segment, the FHLBank has only established an allowance for credit losses on its conventional mortgage loans held for portfolio. | ||||||||||||||||
Roll-forward of Allowance for Credit Losses: As of September 30, 2014, the FHLBank determined that an allowance for credit losses was only necessary on conventional mortgage loans held for portfolio. Table 6.1 presents a roll-forward of the allowance for credit losses for the three and nine months ended September 30, 2014 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 September 30, 2014 (in thousands): | ||||||||||||||||
Table 6.1 | ||||||||||||||||
9/30/14 | ||||||||||||||||
Conventional | Government | Credit | Direct | Total | ||||||||||||
Loans | Loans | Products1 | Financing | |||||||||||||
Lease | ||||||||||||||||
Receivable | ||||||||||||||||
Allowance for credit losses: | ||||||||||||||||
Balance, beginning of three-month period | $ | 4,658 | $ | — | $ | — | $ | — | $ | 4,658 | ||||||
Charge-offs | (149 | ) | — | — | — | (149 | ) | |||||||||
Provision (reversal) for credit losses | 82 | — | — | — | 82 | |||||||||||
Balance, end of three-month period | $ | 4,591 | $ | — | $ | — | $ | — | $ | 4,591 | ||||||
Balance, beginning of nine-month period | $ | 6,748 | $ | — | $ | — | $ | — | $ | 6,748 | ||||||
Charge-offs | (425 | ) | — | — | — | (425 | ) | |||||||||
Provision (reversal) for credit losses | (1,732 | ) | — | — | — | (1,732 | ) | |||||||||
Balance, end of nine-month period | $ | 4,591 | $ | — | $ | — | $ | — | $ | 4,591 | ||||||
Allowance for credit losses, end of period: | ||||||||||||||||
Individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||
Collectively evaluated for impairment | $ | 4,591 | $ | — | $ | — | $ | — | $ | 4,591 | ||||||
Recorded investment2, end of period: | ||||||||||||||||
Individually evaluated for impairment3 | $ | — | $ | — | $ | 20,595,448 | $ | 21,959 | $ | 20,617,407 | ||||||
Collectively evaluated for impairment | $ | 5,543,946 | $ | 655,541 | $ | — | $ | — | $ | 6,199,487 | ||||||
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 6.2 presents a roll-forward of the allowance for credit losses for the three and nine months ended September 30, 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 September 30, 2013 (in thousands): | ||||||||||||||||
Table 6.2 | ||||||||||||||||
9/30/13 | ||||||||||||||||
Conventional | Government | Credit | Direct | Total | ||||||||||||
Loans | Loans | Products1 | Financing | |||||||||||||
Lease | ||||||||||||||||
Receivable | ||||||||||||||||
Allowance for credit losses: | ||||||||||||||||
Balance, beginning of three-month period | $ | 6,590 | $ | — | $ | — | $ | — | $ | 6,590 | ||||||
Charge-offs | (229 | ) | — | — | — | (229 | ) | |||||||||
Provision (reversal) for credit losses | 530 | — | — | — | 530 | |||||||||||
Balance, end of three-month period | $ | 6,891 | $ | — | $ | — | $ | — | $ | 6,891 | ||||||
Balance, beginning of nine-month period | $ | 5,416 | $ | — | $ | — | $ | — | $ | 5,416 | ||||||
Charge-offs | (586 | ) | — | — | — | (586 | ) | |||||||||
Provision (reversal) for credit losses | 2,061 | — | — | — | 2,061 | |||||||||||
Balance, end of nine-month period | $ | 6,891 | $ | — | $ | — | $ | — | $ | 6,891 | ||||||
Allowance for credit losses, end of period: | ||||||||||||||||
Individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||
Collectively evaluated for impairment | $ | 6,891 | $ | — | $ | — | $ | — | $ | 6,891 | ||||||
Recorded investment2, end of period: | ||||||||||||||||
Individually evaluated for impairment3 | $ | — | $ | — | $ | 18,826,525 | $ | 24,049 | $ | 18,850,574 | ||||||
Collectively evaluated for impairment | $ | 5,280,393 | $ | 667,431 | $ | — | $ | — | $ | 5,947,824 | ||||||
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 6.3 summarizes the delinquency aging and key credit quality indicators for all of the FHLBank’s portfolio segments as of September 30, 2014 (dollar amounts in thousands): | ||||||||||||||||
Table 6.3 | ||||||||||||||||
9/30/14 | ||||||||||||||||
Conventional | Government | Credit | Direct | Total | ||||||||||||
Loans | Loans | Products1 | Financing | |||||||||||||
Lease | ||||||||||||||||
Receivable | ||||||||||||||||
Recorded investment2: | ||||||||||||||||
Past due 30-59 days delinquent | $ | 30,679 | $ | 20,282 | $ | — | $ | — | $ | 50,961 | ||||||
Past due 60-89 days delinquent | 6,992 | 5,287 | — | — | 12,279 | |||||||||||
Past due 90 days or more delinquent | 14,886 | 5,968 | — | — | 20,854 | |||||||||||
Total past due | 52,557 | 31,537 | — | — | 84,094 | |||||||||||
Total current loans | 5,491,389 | 624,004 | 20,595,448 | 21,959 | 26,732,800 | |||||||||||
Total recorded investment | $ | 5,543,946 | $ | 655,541 | $ | 20,595,448 | $ | 21,959 | $ | 26,816,894 | ||||||
Other delinquency statistics: | ||||||||||||||||
In process of foreclosure, included above3 | $ | 5,964 | $ | 2,705 | $ | — | $ | — | $ | 8,669 | ||||||
Serious delinquency rate4 | 0.3 | % | 0.9 | % | — | % | — | % | 0.1 | % | ||||||
Past due 90 days or more and still accruing interest | $ | — | $ | 5,968 | $ | — | $ | — | $ | 5,968 | ||||||
Loans on non-accrual status5 | $ | 18,843 | $ | — | $ | — | $ | — | $ | 18,843 | ||||||
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 $1,580,000 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 6.4 summarizes the key credit quality indicators for the FHLBank’s mortgage loans as of December 31, 2013 (dollar amounts in thousands): | ||||||||||||||||
Table 6.4 | ||||||||||||||||
12/31/13 | ||||||||||||||||
Conventional | Government | Credit | Direct | Total | ||||||||||||
Loans | Loans | Products1 | Financing | |||||||||||||
Lease | ||||||||||||||||
Receivable | ||||||||||||||||
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. | |||||||||||||||
The FHLBank had $4,622,000 and $4,307,000 classified as real estate owned recorded in other assets as of September 30, 2014 and December 31, 2013, respectively. |
Derivatives_And_Hedging_Activi
Derivatives And Hedging Activities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | ' | ||||||||||||||||||||||||
Derivatives And Hedging Activities | ' | ||||||||||||||||||||||||
DERIVATIVES AND HEDGING ACTIVITIES | |||||||||||||||||||||||||
Table 7.1 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 September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||
Table 7.1 | |||||||||||||||||||||||||
9/30/14 | 12/31/13 | ||||||||||||||||||||||||
Notional | Derivative | Derivative | Notional | Derivative | Derivative | ||||||||||||||||||||
Amount | Assets | Liabilities | Amount | Assets | Liabilities | ||||||||||||||||||||
Fair value hedges: | |||||||||||||||||||||||||
Interest rate swaps | $ | 11,091,152 | $ | 101,356 | $ | 216,727 | $ | 10,285,231 | $ | 127,059 | $ | 347,123 | |||||||||||||
Interest rate caps/floors | 247,000 | — | 1,366 | 247,000 | — | 2,648 | |||||||||||||||||||
Total fair value hedges | 11,338,152 | 101,356 | 218,093 | 10,532,231 | 127,059 | 349,771 | |||||||||||||||||||
Economic hedges: | |||||||||||||||||||||||||
Interest rate swaps | 2,616,820 | 1,305 | 81,466 | 3,691,820 | 4,260 | 120,166 | |||||||||||||||||||
Interest rate caps/floors | 4,205,800 | 17,196 | 50 | 4,627,800 | 41,463 | 103 | |||||||||||||||||||
Mortgage delivery commitments | 64,698 | 85 | 53 | 65,620 | 24 | 289 | |||||||||||||||||||
Total economic hedges | 6,887,318 | 18,586 | 81,569 | 8,385,240 | 45,747 | 120,558 | |||||||||||||||||||
TOTAL | $ | 18,225,470 | 119,942 | 299,662 | $ | 18,917,471 | 172,806 | 470,329 | |||||||||||||||||
Netting adjustments1 | (179,800 | ) | (179,800 | ) | (161,161 | ) | (161,161 | ) | |||||||||||||||||
Cash collateral2 | 85,956 | (68,445 | ) | 16,312 | (200,815 | ) | |||||||||||||||||||
DERIVATIVE ASSETS AND LIABILITIES | $ | 26,098 | $ | 51,417 | $ | 27,957 | $ | 108,353 | |||||||||||||||||
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. | ||||||||||||||||||||||||
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 three and nine months ended September 30, 2014 and 2013, the FHLBank recorded net gain (loss) on derivatives and hedging activities as presented in Table 7.2 (in thousands): | |||||||||||||||||||||||||
Table 7.2 | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
9/30/14 | 9/30/13 | 9/30/14 | 9/30/13 | ||||||||||||||||||||||
Derivatives and hedge items in fair value hedging relationships: | |||||||||||||||||||||||||
Interest rate swaps | $ | 141 | $ | 856 | $ | (708 | ) | $ | (4,441 | ) | |||||||||||||||
Total net gain (loss) related to fair value hedge ineffectiveness | 141 | 856 | (708 | ) | (4,441 | ) | |||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||
Economic hedges: | |||||||||||||||||||||||||
Interest rate swaps | 11,469 | 5,524 | 26,332 | 31,116 | |||||||||||||||||||||
Interest rate caps/floors | (4,089 | ) | (3,908 | ) | (25,569 | ) | 7,514 | ||||||||||||||||||
Net interest settlements | (9,799 | ) | (9,966 | ) | (29,585 | ) | (28,352 | ) | |||||||||||||||||
Mortgage delivery commitments | 60 | 1,903 | 2,979 | (2,945 | ) | ||||||||||||||||||||
Intermediary transactions: | |||||||||||||||||||||||||
Interest rate swaps | — | (1 | ) | — | (17 | ) | |||||||||||||||||||
Total net gain (loss) related to derivatives not designated as hedging instruments | (2,359 | ) | (6,448 | ) | (25,843 | ) | 7,316 | ||||||||||||||||||
NET GAIN (LOSS) ON DERIVATIVES AND HEDGING ACTIVITIES | $ | (2,218 | ) | $ | (5,592 | ) | $ | (26,551 | ) | $ | 2,875 | ||||||||||||||
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 three months ended September 30, 2014 and 2013, 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 7.3 (in thousands): | |||||||||||||||||||||||||
Table 7.3 | |||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
9/30/14 | 9/30/13 | ||||||||||||||||||||||||
Gain (Loss) on Derivatives | Gain (Loss) on Hedged Items | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income1 | Gain (Loss) on Derivatives | Gain (Loss) on Hedged Items | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income1 | ||||||||||||||||||
Advances | $ | 47,481 | $ | (46,986 | ) | $ | 495 | $ | (35,539 | ) | $ | 10,788 | $ | (10,509 | ) | $ | 279 | $ | (38,948 | ) | |||||
Consolidated obligation bonds | (21,925 | ) | 21,571 | $ | (354 | ) | 23,343 | (6,137 | ) | 6,714 | $ | 577 | 28,297 | ||||||||||||
TOTAL | $ | 25,556 | $ | (25,415 | ) | $ | 141 | $ | (12,196 | ) | $ | 4,651 | $ | (3,795 | ) | $ | 856 | $ | (10,651 | ) | |||||
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. | ||||||||||||||||||||||||
For the nine months ended September 30, 2014 and 2013, 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 7.4 (in thousands): | |||||||||||||||||||||||||
Table 7.4 | |||||||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||
9/30/14 | 9/30/13 | ||||||||||||||||||||||||
Gain (Loss) on Derivatives | Gain (Loss) on Hedged Items | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income1 | Gain (Loss) on Derivatives | Gain (Loss) on Hedged Items | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income1 | ||||||||||||||||||
Advances | $ | 68,762 | $ | (67,956 | ) | $ | 806 | $ | (106,619 | ) | $ | 145,881 | $ | (143,497 | ) | $ | 2,384 | $ | (119,789 | ) | |||||
Consolidated obligation bonds | 32,233 | (33,747 | ) | $ | (1,514 | ) | 69,123 | (122,886 | ) | 116,061 | $ | (6,825 | ) | 81,098 | |||||||||||
TOTAL | $ | 100,995 | $ | (101,703 | ) | $ | (708 | ) | $ | (37,496 | ) | $ | 22,995 | $ | (27,436 | ) | $ | (4,441 | ) | $ | (38,691 | ) | |||
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. | ||||||||||||||||||||||||
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 $29,039,000 and $21,045,000 as of September 30, 2014 and December 31, 2013, 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 September 30, 2014 and December 31, 2013 was $92,446,000 and $308,776,000, respectively, for which the FHLBank has posted collateral with a fair value of $41,323,000 and $200,815,000, 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 $35,000,000 and $77,830,000 of collateral to its bilateral derivative counterparties as of September 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||
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 as of September 30, 2014 or December 31, 2013. | |||||||||||||||||||||||||
The FHLBank’s net exposure on derivative agreements is presented in Note 11. |
Deposits
Deposits | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Deposits [Abstract] | ' | ||||||
Deposits | ' | ||||||
DEPOSITS | |||||||
The FHLBank offers demand, overnight and short-term deposit programs to its members and to other qualifying non-members. Table 8.1 details the types of deposits held by the FHLBank as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||
Table 8.1 | |||||||
9/30/14 | 12/31/13 | ||||||
Interest-bearing: | |||||||
Demand | $ | 208,032 | $ | 214,645 | |||
Overnight | 377,900 | 686,100 | |||||
Term | 53,500 | 23,800 | |||||
Total interest-bearing | 639,432 | 924,545 | |||||
Non-interest-bearing: | |||||||
Demand | 37,637 | 37,343 | |||||
Total non-interest-bearing | 37,637 | 37,343 | |||||
TOTAL DEPOSITS | $ | 677,069 | $ | 961,888 | |||
Consolidated_Obligations
Consolidated Obligations | 9 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Federal Home Loan Bank, Consolidated Obligations [Abstract] | ' | ||||||||||
Consolidated Obligations | ' | ||||||||||
CONSOLIDATED OBLIGATIONS | |||||||||||
Consolidated Obligation Bonds: Table 9.1 presents the FHLBank’s participation in consolidated obligation bonds outstanding as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||
Table 9.1 | |||||||||||
9/30/14 | 12/31/13 | ||||||||||
Year of Contractual Maturity | Amount | Weighted | Amount | Weighted | |||||||
Average | Average | ||||||||||
Interest | Interest | ||||||||||
Rate | Rate | ||||||||||
Due in one year or less | $ | 5,289,500 | 0.49 | % | $ | 6,177,700 | 0.74 | % | |||
Due after one year through two years | 3,611,250 | 0.96 | 3,182,300 | 0.69 | |||||||
Due after two years through three years | 1,561,000 | 1.65 | 1,635,750 | 1.7 | |||||||
Due after three years through four years | 1,451,375 | 2.24 | 1,397,935 | 2.56 | |||||||
Due after four years through five years | 1,774,250 | 1.46 | 1,333,940 | 1.79 | |||||||
Thereafter | 6,294,150 | 2.34 | 6,312,600 | 2.28 | |||||||
Total par value | 19,981,525 | 1.46 | % | 20,040,225 | 1.49 | % | |||||
Premiums | 29,936 | 36,613 | |||||||||
Discounts | (4,254 | ) | (4,605 | ) | |||||||
Hedging adjustments | 18,265 | (15,269 | ) | ||||||||
TOTAL | $ | 20,025,472 | $ | 20,056,964 | |||||||
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 and Constant Maturity Treasuries. 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 September 30, 2014 and December 31, 2013 includes callable bonds totaling $9,436,000,000 and $8,302,000,000, respectively. The FHLBank uses the unswapped callable bonds for financing its callable advances (Note 4), MBS (Note 3) and mortgage loans (Note 5). Contemporaneous with a portion of its fixed rate callable bond issuances, 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 9.2 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 September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||
Table 9.2 | |||||||||||
Year of Maturity or Next Call Date | 9/30/14 | 12/31/13 | |||||||||
Due in one year or less | $ | 14,555,500 | $ | 14,189,700 | |||||||
Due after one year through two years | 3,296,250 | 3,248,300 | |||||||||
Due after two years through three years | 957,000 | 1,126,750 | |||||||||
Due after three years through four years | 639,375 | 761,935 | |||||||||
Due after four years through five years | 176,250 | 378,940 | |||||||||
Thereafter | 357,150 | 334,600 | |||||||||
TOTAL PAR VALUE | $ | 19,981,525 | $ | 20,040,225 | |||||||
Table 9.3 summarizes interest rate payment terms for consolidated obligation bonds as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||
Table 9.3 | |||||||||||
9/30/14 | 12/31/13 | ||||||||||
Fixed rate | $ | 11,681,525 | $ | 11,705,225 | |||||||
Simple variable rate | 5,355,000 | 5,895,000 | |||||||||
Step up/step down | 2,720,000 | 2,220,000 | |||||||||
Range | 120,000 | 90,000 | |||||||||
Fixed to variable rate | 80,000 | 45,000 | |||||||||
Variable to fixed rate | 25,000 | 85,000 | |||||||||
TOTAL PAR VALUE | $ | 19,981,525 | $ | 20,040,225 | |||||||
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 9.4 summarizes the FHLBank’s participation in consolidated obligation discount notes, all of which are due within one year (in thousands): | |||||||||||
Table 9.4 | |||||||||||
Book Value | Par Value | Weighted | |||||||||
Average | |||||||||||
Interest | |||||||||||
Rate1 | |||||||||||
September 30, 2014 | $ | 15,947,588 | $ | 15,949,485 | 0.07 | % | |||||
December 31, 2013 | $ | 10,889,565 | $ | 10,890,528 | 0.08 | % | |||||
1 | Represents yield to maturity excluding concession fees. |
Affordable_Housing_Program
Affordable Housing Program | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Affordable Housing Program [Abstract] | ' | ||||||||||||
Affordable Housing Program | ' | ||||||||||||
AFFORDABLE HOUSING PROGRAM | |||||||||||||
The Federal Home Loan Bank Act (Bank Act), as amended by the Financial Institutions Reform, Recovery and Enforcement Act of 1989, requires each FHLBank to establish an Affordable Housing Program (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 the 12 FHLBanks as a group, 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. | |||||||||||||
Table 10.1 details the change in the AHP liability for the three and nine months ended September 30, 2014 and 2013 (in thousands): | |||||||||||||
Table 10.1 | |||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||
9/30/14 | 9/30/13 | 9/30/14 | 9/30/13 | ||||||||||
Appropriated and reserved AHP funds as of the beginning of the period | $ | 34,937 | $ | 32,501 | $ | 35,264 | $ | 31,198 | |||||
AHP set aside based on current year income | 3,181 | 3,176 | 8,833 | 9,120 | |||||||||
Direct grants disbursed | (6,227 | ) | (2,547 | ) | (12,372 | ) | (7,298 | ) | |||||
Recaptured funds1 | 53 | 99 | 219 | 209 | |||||||||
Appropriated and reserved AHP funds as of the end of the period | $ | 31,944 | $ | 33,229 | $ | 31,944 | $ | 33,229 | |||||
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 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_Subject
Assets and Liabilities Subject to Offsetting | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Offsetting [Abstract] | ' | |||||||||||||||
Assets and Liabilities Subject to Offsetting [Text Block] | ' | |||||||||||||||
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 11.1 and 11.2 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 September 30, 2014 and December 31, 2013 (in thousands): | ||||||||||||||||
Table 11.1 | ||||||||||||||||
9/30/14 | ||||||||||||||||
Description | Gross Amounts | Gross Amounts | Net Amounts | Gross Amounts | Net | |||||||||||
of Recognized | Offset | of Assets | Not Offset | Amount | ||||||||||||
Assets | in the | Presented | in the | |||||||||||||
Statement of | in the | Statement of | ||||||||||||||
Condition | Statement of | Condition1 | ||||||||||||||
Condition | ||||||||||||||||
Derivative assets: | ||||||||||||||||
Bilateral derivatives | $ | 117,701 | $ | (108,573 | ) | $ | 9,128 | $ | (85 | ) | $ | 9,043 | ||||
Cleared derivatives | 2,241 | 14,729 | 16,970 | — | 16,970 | |||||||||||
Total derivative assets | 119,942 | (93,844 | ) | 26,098 | (85 | ) | 26,013 | |||||||||
Securities purchased under agreements to resell | 1,075,000 | — | 1,075,000 | (1,075,000 | ) | — | ||||||||||
TOTAL | $ | 1,194,942 | $ | (93,844 | ) | $ | 1,101,098 | $ | (1,075,085 | ) | $ | 26,013 | ||||
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). | |||||||||||||||
Table 11.2 | ||||||||||||||||
12/31/13 | ||||||||||||||||
Description | Gross Amounts | Gross Amounts | Net Amounts | Gross Amounts | Net | |||||||||||
of Recognized | Offset | of Assets | Not Offset | Amount | ||||||||||||
Assets | in the | Presented | in the | |||||||||||||
Statement of | in the | Statement of | ||||||||||||||
Condition | Statement of | Condition1 | ||||||||||||||
Condition | ||||||||||||||||
Derivative assets: | ||||||||||||||||
Bilateral derivatives | $ | 165,894 | $ | (150,968 | ) | $ | 14,926 | $ | (24 | ) | $ | 14,902 | ||||
Cleared derivatives | 6,912 | 6,119 | 13,031 | — | 13,031 | |||||||||||
Total derivative assets | 172,806 | (144,849 | ) | 27,957 | (24 | ) | 27,933 | |||||||||
TOTAL | $ | 172,806 | $ | (144,849 | ) | $ | 27,957 | $ | (24 | ) | $ | 27,933 | ||||
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). | |||||||||||||||
Tables 11.3 and 11.4 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 September 30, 2014 and December 31, 2013 (in thousands): | ||||||||||||||||
Table 11.3 | ||||||||||||||||
9/30/14 | ||||||||||||||||
Description | Gross Amounts | Gross Amounts | Net Amounts | Gross Amounts | Net | |||||||||||
of Recognized | Offset | of Liabilities | Not Offset | Amount | ||||||||||||
Liabilities | in the | Presented | in the | |||||||||||||
Statement of | in the | Statement of | ||||||||||||||
Condition | Statement of | Condition1 | ||||||||||||||
Condition | ||||||||||||||||
Derivative liabilities: | ||||||||||||||||
Bilateral derivatives | $ | 285,371 | $ | (233,954 | ) | $ | 51,417 | $ | (103 | ) | $ | 51,314 | ||||
Cleared derivatives | 14,291 | (14,291 | ) | — | — | — | ||||||||||
Total derivative liabilities | 299,662 | (248,245 | ) | 51,417 | (103 | ) | 51,314 | |||||||||
TOTAL | $ | 299,662 | $ | (248,245 | ) | $ | 51,417 | $ | (103 | ) | $ | 51,314 | ||||
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). | |||||||||||||||
Table 11.4 | ||||||||||||||||
12/31/13 | ||||||||||||||||
Description | Gross Amounts | Gross Amounts | Net Amounts | Gross Amounts | Net | |||||||||||
of Recognized | Offset | of Liabilities | Not Offset | Amount | ||||||||||||
Liabilities | in the | Presented | in the | |||||||||||||
Statement of | in the | Statement of | ||||||||||||||
Condition | Statement of | Condition1 | ||||||||||||||
Condition | ||||||||||||||||
Derivative liabilities: | ||||||||||||||||
Bilateral derivatives | $ | 470,290 | $ | (361,937 | ) | $ | 108,353 | $ | (392 | ) | $ | 107,961 | ||||
Cleared derivatives | 39 | (39 | ) | — | — | — | ||||||||||
Total derivative liabilities | 470,329 | (361,976 | ) | 108,353 | (392 | ) | 107,961 | |||||||||
TOTAL | $ | 470,329 | $ | (361,976 | ) | $ | 108,353 | $ | (392 | ) | $ | 107,961 | ||||
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
Capital | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Capital [Abstract] | ' | ||||||||||||
Capital | ' | ||||||||||||
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 accumulated other comprehensive income (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 Common 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 12.1 illustrates that the FHLBank was in compliance with its regulatory capital requirements as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||
Table 12.1 | |||||||||||||
9/30/14 | 12/31/13 | ||||||||||||
Required | Actual | Required | Actual | ||||||||||
Regulatory capital requirements: | |||||||||||||
Risk-based capital | $ | 376,228 | $ | 1,554,019 | $ | 414,914 | $ | 1,389,646 | |||||
Total regulatory capital-to-asset ratio | 4 | % | 4.4 | % | 4 | % | 5.4 | % | |||||
Total regulatory capital | $ | 1,541,122 | $ | 1,709,826 | $ | 1,358,012 | $ | 1,824,345 | |||||
Leverage capital ratio | 5 | % | 6.5 | % | 5 | % | 7.4 | % | |||||
Leverage capital | $ | 1,926,402 | $ | 2,486,835 | $ | 1,697,515 | $ | 2,519,168 | |||||
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 a price equal to the $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 12.2 provides the related dollar amounts for activities recorded in “Mandatorily redeemable capital stock” during the three and nine months ended September 30, 2014 and 2013 (in thousands): | |||||||||||||
Table 12.2 | |||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||
9/30/14 | 9/30/13 | 9/30/14 | 9/30/13 | ||||||||||
Balance at beginning of period | $ | 4,519 | $ | 5,410 | $ | 4,764 | $ | 5,665 | |||||
Capital stock subject to mandatory redemption reclassified from equity during the period | 58,794 | 99,455 | 228,102 | 207,150 | |||||||||
Redemption or repurchase of mandatorily redeemable capital stock during the period | (58,954 | ) | (99,687 | ) | (228,522 | ) | (207,649 | ) | |||||
Stock dividend classified as mandatorily redeemable capital stock during the period | 12 | 6 | 27 | 18 | |||||||||
Balance at end of period | $ | 4,371 | $ | 5,184 | $ | 4,371 | $ | 5,184 | |||||
Table 12.3 shows the amount of mandatorily redeemable capital stock by contractual year of redemption as of September 30, 2014 and December 31, 2013 (in thousands). The year of redemption in Table 12.3 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 6 months (for Class A Common Stock) or 5 years (for 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 12.3 | |||||||||||||
Contractual Year of Repurchase | 9/30/14 | 12/31/13 | |||||||||||
Year 1 | $ | — | $ | 166 | |||||||||
Year 2 | 53 | 52 | |||||||||||
Year 3 | 1 | — | |||||||||||
Year 4 | 24 | — | |||||||||||
Year 5 | — | 74 | |||||||||||
Past contractual redemption date due to remaining activity1 | 4,293 | 4,472 | |||||||||||
TOTAL | $ | 4,371 | $ | 4,764 | |||||||||
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. | ||||||||||||
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 excess member stock under certain circumstances. For example, 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 September 30, 2014, 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 | 9 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||
Accumulated Other Comprehensive Income | ' | |||||||||
ACCUMULATED OTHER COMPREHENSIVE INCOME | ||||||||||
Table 13.1 summarizes the changes in AOCI for the three months ended September 30, 2014 and 2013 (in thousands): | ||||||||||
Table 13.1 | ||||||||||
Three Months Ended | ||||||||||
Net Non-credit Portion of OTTI Losses on | Defined Benefit Pension Plan | Total AOCI | ||||||||
Held-to-maturity Securities | ||||||||||
Balance at June 30, 2013 | $ | (17,979 | ) | $ | (4,210 | ) | $ | (22,189 | ) | |
Other comprehensive income (loss) before reclassification: | ||||||||||
Non-credit OTTI losses | (5 | ) | (5 | ) | ||||||
Accretion of non-credit loss | 738 | 738 | ||||||||
Reclassifications from other comprehensive income (loss) to net income: | ||||||||||
Non-credit OTTI to credit OTTI1 | 300 | 300 | ||||||||
Amortization of net loss - defined benefit pension plan2 | 101 | 101 | ||||||||
Net current period other comprehensive income (loss) | 1,033 | 101 | 1,134 | |||||||
Balance at September 30, 2013 | $ | (16,946 | ) | $ | (4,109 | ) | $ | (21,055 | ) | |
Balance at June 30, 2014 | $ | (13,848 | ) | $ | (2,269 | ) | $ | (16,117 | ) | |
Other comprehensive income (loss) before reclassification: | ||||||||||
Accretion of non-credit loss | 1,002 | 1,002 | ||||||||
Reclassifications from other comprehensive income (loss) to net income: | ||||||||||
Non-credit OTTI to credit OTTI1 | 20 | 20 | ||||||||
Amortization of net loss - defined benefit pension plan2 | 38 | 38 | ||||||||
Net current period other comprehensive income (loss) | 1,022 | 38 | 1,060 | |||||||
Balance at September 30, 2014 | $ | (12,826 | ) | $ | (2,231 | ) | $ | (15,057 | ) | |
1 | Recorded 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)). | |||||||||
2 | Recorded in “Compensation and benefits” on the Statements of Income. Amount represents a debit (increase to other expenses). | |||||||||
Table 13.2 summarizes the changes in AOCI for the nine months ended September 30, 2014 and 2013 (in thousands): | ||||||||||
Table 13.2 | ||||||||||
Nine Months Ended | ||||||||||
Net Non-credit Portion of OTTI Losses on | Defined Benefit Pension Plan | Total AOCI | ||||||||
Held-to-maturity Securities | ||||||||||
Balance at 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 loss | 3,467 | 3,467 | ||||||||
Reclassifications from other comprehensive income (loss) to net income: | ||||||||||
Non-credit OTTI to credit OTTI1 | 452 | 452 | ||||||||
Amortization of net loss - defined benefit pension plan2 | 302 | 302 | ||||||||
Net current period other comprehensive income (loss) | 3,900 | 302 | 4,202 | |||||||
Balance at September 30, 2013 | $ | (16,946 | ) | $ | (4,109 | ) | $ | (21,055 | ) | |
Balance at December 31, 2013 | $ | (16,003 | ) | $ | (2,358 | ) | $ | (18,361 | ) | |
Other comprehensive income (loss) before reclassification: | ||||||||||
Accretion of non-credit loss | 2,734 | 2,734 | ||||||||
Reclassifications from other comprehensive income (loss) to net income: | ||||||||||
Non-credit OTTI to credit OTTI1 | 443 | 443 | ||||||||
Amortization of net loss - defined benefit pension plan2 | 127 | 127 | ||||||||
Net current period other comprehensive income (loss) | 3,177 | 127 | 3,304 | |||||||
Balance at September 30, 2014 | $ | (12,826 | ) | $ | (2,231 | ) | $ | (15,057 | ) | |
1 | Recorded 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)). | |||||||||
2 | Recorded in “Compensation and benefits” on the Statements of Income. Amount represents a debit (increase to other expenses). |
Fair_Values
Fair Values | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||
Fair Values | ' | ||||||||||||||||||
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 September 30, 2014 and December 31, 2013. | |||||||||||||||||||
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 three and nine months ended September 30, 2014 and 2013. | |||||||||||||||||||
The carrying value and fair value of the FHLBank’s financial assets and liabilities as of September 30, 2014 and December 31, 2013 are summarized in Tables 14.1 and 14.2 (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 14.1 | |||||||||||||||||||
9/30/14 | |||||||||||||||||||
Carrying | Total | Level 1 | Level 2 | Level 3 | Netting | ||||||||||||||
Value | Fair | Adjustment | |||||||||||||||||
Value | and Cash | ||||||||||||||||||
Collateral | |||||||||||||||||||
Assets: | |||||||||||||||||||
Cash and due from banks | $ | 2,571,350 | $ | 2,571,350 | $ | 2,571,350 | $ | — | $ | — | $ | — | |||||||
Interest-bearing deposits | 146 | 146 | — | 146 | — | — | |||||||||||||
Securities purchased under agreements to resell | 1,075,000 | 1,075,000 | — | 1,075,000 | — | — | |||||||||||||
Federal funds sold | 1,450,000 | 1,450,000 | — | 1,450,000 | — | — | |||||||||||||
Trading securities | 1,476,212 | 1,476,212 | — | 1,476,212 | — | — | |||||||||||||
Held-to-maturity securities | 5,074,263 | 5,085,070 | — | 4,703,646 | 381,424 | — | |||||||||||||
Advances | 20,574,600 | 20,635,315 | — | 20,635,315 | — | — | |||||||||||||
Mortgage loans held for portfolio, net of allowance | 6,164,822 | 6,331,505 | — | 6,331,505 | — | — | |||||||||||||
Accrued interest receivable | 63,232 | 63,232 | — | 63,232 | — | — | |||||||||||||
Derivative assets | 26,098 | 26,098 | — | 119,942 | — | (93,844 | ) | ||||||||||||
Liabilities: | |||||||||||||||||||
Deposits | 677,069 | 677,069 | — | 677,069 | — | — | |||||||||||||
Consolidated obligation discount notes | 15,947,588 | 15,947,112 | — | 15,947,112 | — | — | |||||||||||||
Consolidated obligation bonds | 20,025,472 | 19,975,760 | — | 19,975,760 | — | — | |||||||||||||
Mandatorily redeemable capital stock | 4,371 | 4,371 | 4,371 | — | — | — | |||||||||||||
Accrued interest payable | 71,757 | 71,757 | — | 71,757 | — | — | |||||||||||||
Derivative liabilities | 51,417 | 51,417 | — | 299,662 | — | (248,245 | ) | ||||||||||||
Other Asset (Liability): | |||||||||||||||||||
Standby letters of credit | (777 | ) | (777 | ) | — | (777 | ) | — | — | ||||||||||
Standby bond purchase agreements | 276 | 6,009 | — | 6,009 | — | — | |||||||||||||
Advance commitments | — | (784 | ) | — | (784 | ) | — | — | |||||||||||
Table 14.2 | |||||||||||||||||||
12/31/13 | |||||||||||||||||||
Carrying | Total | Level 1 | Level 2 | Level 3 | Netting | ||||||||||||||
Value | Fair | Adjustment | |||||||||||||||||
Value | and Cash | ||||||||||||||||||
Collateral | |||||||||||||||||||
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 | ) | — | — | |||||||||||
Fair Value Measurements: Tables 14.3 and 14.4 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 September 30, 2014 and December 31, 2013 (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 14.3 | |||||||||||||||||||
9/30/14 | |||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Netting | |||||||||||||||
Adjustment | |||||||||||||||||||
and Cash | |||||||||||||||||||
Collateral1 | |||||||||||||||||||
Recurring fair value measurements - Assets: | |||||||||||||||||||
Trading securities: | |||||||||||||||||||
U.S. Treasury obligations | $ | 25,031 | $ | — | $ | 25,031 | $ | — | $ | — | |||||||||
Government-sponsored enterprise obligations2,3 | 1,306,245 | — | 1,306,245 | — | — | ||||||||||||||
U.S. obligation residential MBS4 | 986 | — | 986 | — | — | ||||||||||||||
Government-sponsored enterprise residential MBS5 | 143,950 | — | 143,950 | — | — | ||||||||||||||
Total trading securities | 1,476,212 | — | 1,476,212 | — | — | ||||||||||||||
Derivative assets: | |||||||||||||||||||
Interest-rate related | 26,013 | — | 119,857 | — | (93,844 | ) | |||||||||||||
Mortgage delivery commitments | 85 | — | 85 | — | — | ||||||||||||||
Total derivative assets | 26,098 | — | 119,942 | — | (93,844 | ) | |||||||||||||
TOTAL RECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 1,502,310 | $ | — | $ | 1,596,154 | $ | — | $ | (93,844 | ) | ||||||||
Recurring fair value measurements - Liabilities: | |||||||||||||||||||
Derivative liabilities: | |||||||||||||||||||
Interest-rate related | $ | 51,364 | $ | — | $ | 299,609 | $ | — | $ | (248,245 | ) | ||||||||
Mortgage delivery commitments | 53 | — | 53 | — | — | ||||||||||||||
Total derivative liabilities | 51,417 | — | 299,662 | — | (248,245 | ) | |||||||||||||
TOTAL RECURRING FAIR VALUE MEASUREMENTS - LIABILITIES | $ | 51,417 | $ | — | $ | 299,662 | $ | — | $ | (248,245 | ) | ||||||||
Nonrecurring fair value measurements - Assets: | |||||||||||||||||||
Real estate owned6 | $ | 1,368 | $ | — | $ | — | $ | 1,368 | $ | — | |||||||||
TOTAL NONRECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 1,368 | $ | — | $ | — | $ | 1,368 | $ | — | |||||||||
1 | 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 clearing agent or derivative counterparty. | ||||||||||||||||||
2 | Represents 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. | ||||||||||||||||||
3 | See Note 17 for transactions with other FHLBanks. | ||||||||||||||||||
4 | Represents MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | ||||||||||||||||||
5 | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | ||||||||||||||||||
6 | Includes real estate owned written down to fair value during the quarter ended September 30, 2014 and still outstanding as of September 30, 2014. | ||||||||||||||||||
Table 14.4 | |||||||||||||||||||
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 | $ | — | |||||||||
1 | 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 clearing agent or derivative counterparty. | ||||||||||||||||||
2 | Represents 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. | ||||||||||||||||||
3 | See Note 17 for transactions with other FHLBanks. | ||||||||||||||||||
4 | Represents MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | ||||||||||||||||||
5 | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | ||||||||||||||||||
6 | Excludes impaired securities with carrying values less than their fair values at date of impairment. | ||||||||||||||||||
7 | Includes real estate owned written down to fair value during the quarter ended December 31, 2013 and still outstanding as of December 31, 2013. |
Commitments_And_Contingencies
Commitments And Contingencies | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||||||||
Commitments And Contingencies | ' | ||||||||||||||||||
COMMITMENTS AND CONTINGENCIES | |||||||||||||||||||
Joint and Several Liability: As provided by the Bank Act or Finance Agency regulation and as described in Note 9, 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 $781,018,828,000 and $735,906,150,000 as of September 30, 2014 and December 31, 2013, 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 September 30, 2014, FHLBank Topeka has concluded that a loss accrual is not necessary at this time. | |||||||||||||||||||
Off-balance Sheet Commitments: As of September 30, 2014 and December 31, 2013, off-balance sheet commitments are presented in Table 15.1 (in thousands): | |||||||||||||||||||
Table 15.1 | |||||||||||||||||||
9/30/14 | 12/31/13 | ||||||||||||||||||
Notional Amount | Expire | Expire | Total | Expire | Expire | Total | |||||||||||||
Within | After | Within | After | ||||||||||||||||
One Year | One Year | One Year | One Year | ||||||||||||||||
Standby letters of credit outstanding | $ | 2,231,143 | $ | 10,655 | $ | 2,241,798 | $ | 2,530,810 | $ | 12,038 | $ | 2,542,848 | |||||||
Standby credit facility commitments outstanding | — | — | — | 50,000 | — | 50,000 | |||||||||||||
Advance commitments outstanding | — | 24,796 | 24,796 | 6,000 | — | 6,000 | |||||||||||||
Commitments for standby bond purchases | 586,911 | 993,348 | 1,580,259 | 363,777 | 1,293,972 | 1,657,749 | |||||||||||||
Commitments to fund or purchase mortgage loans | 64,698 | — | 64,698 | 65,620 | — | 65,620 | |||||||||||||
Commitments to issue consolidated bonds, at par | 57,000 | — | 57,000 | 75,000 | — | 75,000 | |||||||||||||
Commitments to issue consolidated discount notes, at par | 400,000 | — | 400,000 | 650,000 | — | 650,000 | |||||||||||||
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 September 30, 2014, outstanding standby letters of credit had original terms of 2 days to 10 years with a final expiration in 2020. 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. Unearned fees as well as the value of the guarantees related to standby letters of credit are recorded in other liabilities and amounted to $777,000 and $996,000 as of September 30, 2014 and December 31, 2013, respectively. Standby letters of credit are fully collateralized with assets allowed by the FHLBank’s Member Products Policy (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 2017, though some are renewable at the option of the FHLBank. As of September 30, 2014 and 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 one participation interest in a standby bond purchase agreement between another FHLBank and a state housing authority in its district. The FHLBank was not required to purchase any bonds under any agreements during the three and nine months ended September 30, 2014 and 2013. | |||||||||||||||||||
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 $32,000 and $(265,000) as of September 30, 2014 and December 31, 2013, respectively. |
Transactions_With_Stockholders
Transactions With Stockholders And Housing Associates | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Transactions With Stockholders And Housing Associates [Abstract] | ' | ||||||||||||||||||||
Transactions With Stockholders And Housing Associates | ' | ||||||||||||||||||||
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. | |||||||||||||||||||||
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 16.1 and 16.2 present information as of September 30, 2014 and December 31, 2013 on members that owned more than 10 percent of outstanding FHLBank regulatory capital stock in 2014 or 2013 (amounts in thousands). None of the officers or directors of these members currently serve on the FHLBank’s board of directors. | |||||||||||||||||||||
Table 16.1 | |||||||||||||||||||||
9/30/14 | |||||||||||||||||||||
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 | ||||||||||||||
Capitol Federal Savings Bank | KS | $ | 500 | 0.3 | % | $ | 212,554 | 22.6 | % | $ | 213,054 | 19.5 | % | ||||||||
Bank of Oklahoma, NA | OK | 500 | 0.3 | 154,903 | 16.5 | 155,403 | 14.2 | ||||||||||||||
MidFirst Bank | OK | 500 | 0.3 | 123,619 | 13.2 | 124,119 | 11.3 | ||||||||||||||
TOTAL | $ | 1,500 | 0.9 | % | $ | 491,076 | 52.3 | % | $ | 492,576 | 45 | % | |||||||||
Table 16.2 | |||||||||||||||||||||
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 | % | |||||||||
Advance and deposit balances with members that owned more than 10 percent of outstanding FHLBank regulatory capital stock as of September 30, 2014 and December 31, 2013 are summarized in Table 16.3 (amounts in thousands). Information is only listed for the period in which the member owned more than 10 percent of outstanding FHLBank regulatory capital stock. | |||||||||||||||||||||
Table 16.3 | |||||||||||||||||||||
9/30/14 | 12/31/13 | 9/30/14 | 12/31/13 | ||||||||||||||||||
Member Name | Outstanding Advances | Percent of Total | Outstanding Advances | Percent of Total | Outstanding Deposits | Percent of Total | Outstanding Deposits | Percent of Total | |||||||||||||
Capitol Federal Savings Bank | $ | 3,375,000 | 16.5 | % | $ | 2,525,000 | 14.7 | % | $ | 408 | 0.1 | % | $ | 611 | 0.1 | % | |||||
Bank of Oklahoma, NA | 3,453,400 | 16.9 | 1,447 | 0.2 | |||||||||||||||||
MidFirst Bank | 2,711,500 | 13.3 | 2,720,000 | 15.8 | 566 | 0.1 | 538 | 0.1 | |||||||||||||
TOTAL | $ | 9,539,900 | 46.7 | % | $ | 5,245,000 | 30.5 | % | $ | 2,421 | 0.4 | % | $ | 1,149 | 0.2 | % | |||||
MidFirst Bank and Capitol Federal Savings Bank did not sell any mortgage loans into the MPF Program during the three and nine months ended September 30, 2014 and 2013. Bank of Oklahoma, NA did not sell any mortgage loans in the MPF Program during the three and nine month periods ended September 30, 2014. | |||||||||||||||||||||
Transactions with FHLBank Directors’ Financial Institutions: Table 16.4 presents information as of September 30, 2014 and December 31, 2013 for members that had an officer or director serving on the FHLBank’s board of directors in 2014 or 2013 (amounts in thousands). Information is only included 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 16.4 | |||||||||||||||||||||
9/30/14 | 12/31/13 | ||||||||||||||||||||
Outstanding Amount | Percent of Total | Outstanding Amount | Percent of Total | ||||||||||||||||||
Advances | $ | 212,683 | 1 | % | $ | 203,310 | 1.2 | % | |||||||||||||
Deposits | $ | 7,938 | 1.2 | % | $ | 6,220 | 0.6 | % | |||||||||||||
Class A Common Stock | $ | 3,611 | 2.3 | % | $ | 9,380 | 2.1 | % | |||||||||||||
Class B Common Stock | 7,137 | 0.8 | 8,332 | 1 | |||||||||||||||||
TOTAL CAPITAL STOCK | $ | 10,748 | 1 | % | $ | 17,712 | 1.4 | % | |||||||||||||
Table 16.5 presents mortgage loans acquired during the three and nine months ended September 30, 2014 and 2013 for members that had an officer or director serving on the FHLBank’s board of directors in 2014 or 2013 (amounts in thousands). | |||||||||||||||||||||
Table 16.5 | |||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||
9/30/14 | 9/30/13 | 9/30/14 | 9/30/13 | ||||||||||||||||||
Amount | Percent of Total | Amount | Percent of Total | Amount | Percent of Total | Amount | Percent of Total | ||||||||||||||
Mortgage loans acquired | $ | 24,855 | 8.3 | % | $ | 8,759 | 3.5 | % | $ | 66,009 | 8.4 | % | $ | 49,851 | 4.9 | % | |||||
Transactions_With_Other_FHLBan
Transactions With Other FHLBanks | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Transactions With Other FHLBanks [Abstract] | ' | ||||||||||||
Transactions With Other FHLBanks | ' | ||||||||||||
TRANSACTIONS WITH OTHER FHLBANKS | |||||||||||||
FHLBank Topeka had the following business transactions with other FHLBanks during the three and nine months ended September 30, 2014 and 2013 as presented in Table 17.1 (in thousands). All transactions occurred at market prices. | |||||||||||||
Table 17.1 | |||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||
Business Activity | 9/30/14 | 9/30/13 | 9/30/14 | 9/30/13 | |||||||||
Average overnight interbank loan balances to other FHLBanks1 | $ | 543 | $ | 3,261 | $ | 1,176 | $ | 1,817 | |||||
Average overnight interbank loan balances from other FHLBanks1 | 5,000 | 44,837 | 1,832 | 18,278 | |||||||||
Average deposit balances with FHLBank of Chicago for interbank transactions2 | 807 | 2,098 | 640 | 2,434 | |||||||||
Transaction charges paid to FHLBank of Chicago for transaction service fees3 | 824 | 782 | 2,422 | 2,341 | |||||||||
Par amount of purchases of consolidated obligations issued on behalf of other FHLBanks4 | — | 105,500 | — | 150,500 | |||||||||
_________ | |||||||||||||
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 | Balances are interest bearing and are classified on the Statements of Condition as interest-bearing deposits. | ||||||||||||
3 | Fees are calculated monthly based on outstanding loans at the per annum rate in effect at origination. | ||||||||||||
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 $227,227,000 and $260,318,000 as of September 30, 2014 and December 31, 2013, respectively, are included in the non-MBS GSE obligations totals presented in Note 3. Interest income earned on these securities totaled $2,252,000 and $2,050,000 for the three months ended September 30, 2014 and 2013, respectively, and $6,766,000 and $4,882,000 for the nine months ended September 30, 2014 and 2013, respectively. |
Summary_Of_Significant_Account1
Summary Of Significant Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation: The accompanying interim financial statements of the FHLBank are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and with the instruction provided by Article 10, Rule 10-01 of Regulation S-X. The financial statements contain all adjustments which are, in the opinion of management, necessary for a fair statement of the FHLBank’s financial position, results of operations and cash flows for the interim periods presented. All such adjustments were of a normal recurring nature. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full fiscal year or any other interim period. | |
The FHLBank’s significant accounting policies and certain other disclosures are set forth in the notes to the audited financial statements for the year ended December 31, 2013. The interim financial statements presented herein should be read in conjunction with the FHLBank’s audited financial statements and notes thereto, which are included in the FHLBank’s annual report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 14, 2014 (annual report on Form 10-K). The notes to the interim financial statements highlight significant changes to the notes included in the annual report on Form 10-K. | |
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, total comprehensive income, total 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 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. |
Affordable_Housing_Program_Pol
Affordable Housing Program (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Affordable Housing Program [Abstract] | ' |
Description of Affordable Housing Program Assessment Accounting | ' |
The Federal Home Loan Bank Act (Bank Act), as amended by the Financial Institutions Reform, Recovery and Enforcement Act of 1989, requires each FHLBank to establish an Affordable Housing Program (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 the 12 FHLBanks as a group, 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. |
Fair_Values_Policies
Fair Values (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Fair Value Disclosures [Abstract] | ' |
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' |
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. | |
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) | 9 Months Ended | |||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||
Summary Of Trading And Held-To-Maturity Securities | ' | |||||||||||||||||||||
Trading and held-to-maturity securities as of September 30, 2014 are summarized in Table 3.1 (in thousands): | ||||||||||||||||||||||
Table 3.1 | ||||||||||||||||||||||
9/30/14 | ||||||||||||||||||||||
Trading | Held-to-maturity | |||||||||||||||||||||
Fair | Amortized | OTTI | Carrying Value | Gross | Gross | Fair | ||||||||||||||||
Value | Cost | Recognized | Unrecognized | Unrecognized | Value | |||||||||||||||||
in OCI | Gains | Losses | ||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
U.S. Treasury obligations | $ | 25,031 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||
Government-sponsored enterprise obligations1,2 | 1,306,245 | — | — | — | — | — | — | |||||||||||||||
State or local housing agency obligations | — | 130,341 | — | 130,341 | 151 | 6,594 | 123,898 | |||||||||||||||
Non-mortgage-backed securities | 1,331,276 | 130,341 | — | 130,341 | 151 | 6,594 | 123,898 | |||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||
U.S. obligation residential3 | 986 | 60,190 | — | 60,190 | 106 | — | 60,296 | |||||||||||||||
Government-sponsored enterprise residential4 | 143,950 | 4,630,825 | — | 4,630,825 | 29,706 | 17,181 | 4,643,350 | |||||||||||||||
Private-label mortgage-backed securities: | ||||||||||||||||||||||
Residential loans | — | 264,554 | 12,755 | 251,799 | 10,316 | 7,142 | 254,973 | |||||||||||||||
Home equity loans | — | 1,179 | 71 | 1,108 | 1,445 | — | 2,553 | |||||||||||||||
Mortgage-backed securities | 144,936 | 4,956,748 | 12,826 | 4,943,922 | 41,573 | 24,323 | 4,961,172 | |||||||||||||||
TOTAL | $ | 1,476,212 | $ | 5,087,089 | $ | 12,826 | $ | 5,074,263 | $ | 41,724 | $ | 30,917 | $ | 5,085,070 | ||||||||
1 | Represents 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. | |||||||||||||||||||||
2 | See Note 17 for transactions with other FHLBanks. | |||||||||||||||||||||
3 | Represents MBS issued by Government National Mortgage Association (Ginnie Mae), which are guaranteed by the U.S. government. | |||||||||||||||||||||
4 | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | |||||||||||||||||||||
Trading and held-to-maturity securities as of December 31, 2013 are summarized in Table 3.2 (in thousands): | ||||||||||||||||||||||
Table 3.2 | ||||||||||||||||||||||
12/31/13 | ||||||||||||||||||||||
Trading | Held-to-maturity | |||||||||||||||||||||
Fair | Amortized | OTTI | Carrying Value | Gross | Gross | Fair | ||||||||||||||||
Value | Cost | Recognized | 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 | — | 331,158 | 15,825 | 315,333 | 12,459 | 8,691 | 319,101 | |||||||||||||||
Home equity loans | — | 1,406 | 178 | 1,228 | 1,539 | — | 2,767 | |||||||||||||||
Mortgage-backed securities | 171,790 | 5,376,190 | 16,003 | 5,360,187 | 35,959 | 35,813 | 5,360,333 | |||||||||||||||
TOTAL | $ | 2,704,777 | $ | 5,439,662 | $ | 16,003 | $ | 5,423,659 | $ | 35,978 | $ | 44,432 | $ | 5,415,205 | ||||||||
1 | Represents 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. | |||||||||||||||||||||
2 | See Note 17 for transactions with other FHLBanks. | |||||||||||||||||||||
3 | Represents MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | |||||||||||||||||||||
4 | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | |||||||||||||||||||||
Held-To-Maturity Securities With Unrecognized Losses | ' | |||||||||||||||||||||
Table 3.3 summarizes (in thousands) the held-to-maturity securities with unrealized losses as of September 30, 2014. The unrealized losses are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. | ||||||||||||||||||||||
Table 3.3 | ||||||||||||||||||||||
9/30/14 | ||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
State or local housing agency obligations | $ | 6,143 | $ | 34 | $ | 38,175 | $ | 6,560 | $ | 44,318 | $ | 6,594 | ||||||||||
Non-mortgage-backed securities | 6,143 | 34 | 38,175 | 6,560 | 44,318 | 6,594 | ||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||
Government-sponsored enterprise residential1 | 306,369 | 1,355 | 1,142,550 | 15,826 | 1,448,919 | 17,181 | ||||||||||||||||
Private-label mortgage-backed securities: | ||||||||||||||||||||||
Residential loans | 19,133 | 88 | 144,439 | 11,513 | 163,572 | 11,601 | ||||||||||||||||
Mortgage-backed securities | 325,502 | 1,443 | 1,286,989 | 27,339 | 1,612,491 | 28,782 | ||||||||||||||||
TOTAL TEMPORARILY IMPAIRED SECURITIES | $ | 331,645 | $ | 1,477 | $ | 1,325,164 | $ | 33,899 | $ | 1,656,809 | $ | 35,376 | ||||||||||
1 | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | |||||||||||||||||||||
Table 3.4 summarizes (in thousands) the held-to-maturity securities with unrealized losses as of December 31, 2013. The unrealized losses are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. | ||||||||||||||||||||||
Table 3.4 | ||||||||||||||||||||||
12/31/13 | ||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||
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 | ||||||||||
1 | Represents MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | |||||||||||||||||||||
2 | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | |||||||||||||||||||||
Held-To-Maturity Securities Classified By Contractual Maturity Date | ' | |||||||||||||||||||||
The amortized cost, carrying value and fair values of held-to-maturity securities by contractual maturity as of September 30, 2014 and December 31, 2013 are shown in Table 3.5 (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 3.5 | ||||||||||||||||||||||
9/30/14 | 12/31/13 | |||||||||||||||||||||
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 | 18,625 | 18,625 | 18,436 | 21,240 | 21,240 | 19,582 | ||||||||||||||||
Due after 10 years | 111,716 | 111,716 | 105,462 | 42,232 | 42,232 | 35,290 | ||||||||||||||||
Non-mortgage-backed securities | 130,341 | 130,341 | 123,898 | 63,472 | 63,472 | 54,872 | ||||||||||||||||
Mortgage-backed securities | 4,956,748 | 4,943,922 | 4,961,172 | 5,376,190 | 5,360,187 | 5,360,333 | ||||||||||||||||
TOTAL | $ | 5,087,089 | $ | 5,074,263 | $ | 5,085,070 | $ | 5,439,662 | $ | 5,423,659 | $ | 5,415,205 | ||||||||||
Summary Of Held-To-Maturity Securities At Amortized Cost By Interest Rate Payment Terms | ' | |||||||||||||||||||||
Table 3.6 details interest rate payment terms for the amortized cost of held-to-maturity securities as of September 30, 2014 and December 31, 2013 (in thousands): | ||||||||||||||||||||||
Table 3.6 | ||||||||||||||||||||||
9/30/14 | 12/31/13 | |||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||
Fixed rate | $ | 10,751 | $ | 12,232 | ||||||||||||||||||
Variable rate | 119,590 | 51,240 | ||||||||||||||||||||
Non-mortgage-backed securities | 130,341 | 63,472 | ||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||
Pass-through securities: | ||||||||||||||||||||||
Fixed rate | 34 | 78 | ||||||||||||||||||||
Variable rate | 1,208,896 | 1,298,146 | ||||||||||||||||||||
Collateralized mortgage obligations: | ||||||||||||||||||||||
Fixed rate | 454,322 | 541,126 | ||||||||||||||||||||
Variable rate | 3,293,496 | 3,536,840 | ||||||||||||||||||||
Mortgage-backed securities | 4,956,748 | 5,376,190 | ||||||||||||||||||||
TOTAL | $ | 5,087,089 | $ | 5,439,662 | ||||||||||||||||||
Summary Of Net Gains (Losses) On Trading Securities | ' | |||||||||||||||||||||
Net gains (losses) on trading securities during the three and nine months ended September 30, 2014 and 2013 are shown in Table 3.7 (in thousands): | ||||||||||||||||||||||
Table 3.7 | ||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||
9/30/14 | 9/30/13 | 9/30/14 | 9/30/13 | |||||||||||||||||||
Net gains (losses) on trading securities held as of September 30, 2014 | $ | (11,414 | ) | $ | (5,296 | ) | $ | (21,812 | ) | $ | (33,925 | ) | ||||||||||
Net gains (losses) on trading securities sold or matured prior to September 30, 2014 | (5 | ) | (1,472 | ) | (619 | ) | (3,762 | ) | ||||||||||||||
NET GAIN (LOSS) ON TRADING SECURITIES | $ | (11,419 | ) | $ | (6,768 | ) | $ | (22,431 | ) | $ | (37,687 | ) | ||||||||||
Schedule Of Significant Inputs In Measuring Other Than Temporary Impairments Recognized In Earnings | ' | |||||||||||||||||||||
Impairment: For those securities for which an OTTI was determined to have occurred as of September 30, 2014 (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 3.8 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/asset-backed securities (ABS) investments in each category shown. 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 a Nationally Recognized Statistical Rating Organization (NRSRO) upon issuance of the MBS/ABS. | ||||||||||||||||||||||
Table 3.8 | ||||||||||||||||||||||
Private-label residential MBS | ||||||||||||||||||||||
Year of Securitization | Significant Inputs | Current | ||||||||||||||||||||
Credit | ||||||||||||||||||||||
Prepayment | Default | Loss | Enhancements | |||||||||||||||||||
Rates | Rates | Severities | ||||||||||||||||||||
Prime: | ||||||||||||||||||||||
2004 and prior | 16.1 | % | 10.4 | % | 30.8 | % | 27.4 | % | ||||||||||||||
Alt-A: | ||||||||||||||||||||||
2004 and prior | 16.7 | 12.2 | 34.3 | 11.3 | ||||||||||||||||||
2005 | 15.9 | 9.5 | 34.4 | 4.1 | ||||||||||||||||||
Total Alt-A | 16.2 | 10.3 | 34.4 | 6.4 | ||||||||||||||||||
TOTAL | 16.2 | % | 10.3 | % | 34.4 | % | 6.6 | % | ||||||||||||||
Home Equity Loan ABS | ||||||||||||||||||||||
Year of Securitization | Significant Inputs | Current | ||||||||||||||||||||
Credit | ||||||||||||||||||||||
Prepayment | Default | Loss | Enhancements | |||||||||||||||||||
Rates | Rates | Severities | ||||||||||||||||||||
Subprime: | ||||||||||||||||||||||
2004 and prior | 1.1 | % | 7.8 | % | 84.9 | % | 15.8 | % | ||||||||||||||
Schedule Of Other Than Temporarily Impaired Charges Incurred During Life Of Securities | ' | |||||||||||||||||||||
For the 26 outstanding private-label securities with OTTI during the lives of the securities, the FHLBank’s reported balances as of September 30, 2014 are presented in Table 3.9 (in thousands): | ||||||||||||||||||||||
Table 3.9 | ||||||||||||||||||||||
9/30/14 | ||||||||||||||||||||||
Unpaid | Amortized | Carrying | Fair | |||||||||||||||||||
Principal | Cost | Value | Value | |||||||||||||||||||
Balance | ||||||||||||||||||||||
Private-label residential MBS: | ||||||||||||||||||||||
Prime | $ | 14,092 | $ | 13,221 | $ | 12,106 | $ | 13,295 | ||||||||||||||
Alt-A | 60,625 | 54,809 | 43,169 | 51,120 | ||||||||||||||||||
Total private-label residential MBS | 74,717 | 68,030 | 55,275 | 64,415 | ||||||||||||||||||
Home equity loans: | ||||||||||||||||||||||
Subprime | 2,977 | 1,179 | 1,108 | 2,553 | ||||||||||||||||||
TOTAL | $ | 77,694 | $ | 69,209 | $ | 56,383 | $ | 66,968 | ||||||||||||||
Roll-Forward Of OTTI Activity | ' | |||||||||||||||||||||
Table 3.10 presents a roll-forward of OTTI activity for the three and nine months ended September 30, 2014 and 2013 related to credit losses recognized in earnings (in thousands): | ||||||||||||||||||||||
Table 3.10 | ||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||
9/30/14 | 9/30/13 | 9/30/14 | 9/30/13 | |||||||||||||||||||
Balance, beginning of period | $ | 9,560 | $ | 10,698 | $ | 9,917 | $ | 11,291 | ||||||||||||||
Additional charge on securities for which OTTI was previously recognized1 | 20 | 300 | 443 | 452 | ||||||||||||||||||
Amortization of credit component of OTTI2 | (89 | ) | (762 | ) | (869 | ) | (1,507 | ) | ||||||||||||||
Balance, end of period | $ | 9,491 | $ | 10,236 | $ | 9,491 | $ | 10,236 | ||||||||||||||
1 | For the three months ended September 30, 2014 and 2013, securities previously impaired represent all securities that were impaired prior to July 1, 2014 and 2013, respectively. For the nine months ended September 30, 2014 and 2013, securities previously impaired represent all securities that were impaired prior to January 1, 2014 and 2013, 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_Tables
Advances (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Advances [Abstract] | ' | ||||||||||||
Schedule Of Federal Home Loan Bank Advances By Year Of Contractual Maturity | ' | ||||||||||||
Table 4.1 presents advances summarized by year of contractual maturity as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||
Table 4.1 | |||||||||||||
9/30/14 | 12/31/13 | ||||||||||||
Year of Contractual Maturity | Amount | Weighted Average Interest Rate | Amount | Weighted Average Interest Rate | |||||||||
Due in one year or less | $ | 9,502,514 | 0.57 | % | $ | 5,431,364 | 0.77 | % | |||||
Due after one year through two years | 1,455,970 | 2.14 | 1,643,200 | 1.77 | |||||||||
Due after two years through three years | 1,692,486 | 2.59 | 1,650,222 | 1.98 | |||||||||
Due after three years through four years | 1,900,952 | 2.55 | 2,353,661 | 2.59 | |||||||||
Due after four years through five years | 1,071,416 | 1.39 | 1,302,199 | 2.42 | |||||||||
Thereafter | 4,788,697 | 1.23 | 4,812,973 | 1.09 | |||||||||
Total par value | 20,412,035 | 1.23 | % | 17,193,619 | 1.45 | % | |||||||
Discounts | (27,989 | ) | (36,782 | ) | |||||||||
Hedging adjustments | 190,554 | 268,650 | |||||||||||
TOTAL | $ | 20,574,600 | $ | 17,425,487 | |||||||||
Schedule Of Federal Home Loan Bank Advances By Contractual Maturity Or Next Call Date And By Contractual Maturity Or Next Conversion Date | ' | ||||||||||||
Table 4.2 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 September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||
Table 4.2 | |||||||||||||
Year of Contractual Maturity | Year of Contractual Maturity | ||||||||||||
or Next Call Date | or Next Conversion Date | ||||||||||||
Redemption Term | 9/30/14 | 12/31/13 | 9/30/14 | 12/31/13 | |||||||||
Due in one year or less | $ | 13,766,143 | $ | 10,172,524 | $ | 11,037,156 | $ | 7,038,106 | |||||
Due after one year through two years | 1,256,402 | 1,392,527 | 1,325,720 | 1,555,100 | |||||||||
Due after two years through three years | 1,498,853 | 1,175,623 | 1,266,886 | 1,528,722 | |||||||||
Due after three years through four years | 1,533,311 | 1,856,012 | 1,051,660 | 1,381,719 | |||||||||
Due after four years through five years | 672,595 | 1,062,253 | 1,058,416 | 979,999 | |||||||||
Thereafter | 1,684,731 | 1,534,680 | 4,672,197 | 4,709,973 | |||||||||
TOTAL PAR VALUE | $ | 20,412,035 | $ | 17,193,619 | $ | 20,412,035 | $ | 17,193,619 | |||||
Schedule Of Federal Home Loan Bank Advances By Interest Rate Payment Terms | ' | ||||||||||||
Table 4.3 details additional interest rate payment terms for advances as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||
Table 4.3 | |||||||||||||
9/30/14 | 12/31/13 | ||||||||||||
Fixed rate: | |||||||||||||
Due in one year or less | $ | 1,885,334 | $ | 1,733,559 | |||||||||
Due after one year | 6,621,162 | 6,923,555 | |||||||||||
Total fixed rate | 8,506,496 | 8,657,114 | |||||||||||
Variable rate: | |||||||||||||
Due in one year or less | 7,617,180 | 3,697,805 | |||||||||||
Due after one year | 4,288,359 | 4,838,700 | |||||||||||
Total variable rate | 11,905,539 | 8,536,505 | |||||||||||
TOTAL PAR VALUE | $ | 20,412,035 | $ | 17,193,619 | |||||||||
Mortgage_Loans_Tables
Mortgage Loans (Tables) | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Mortgage Loans on Real Estate [Abstract] | ' | ||||||
Schedule Of Mortgage Loans Held For Portfolio | ' | ||||||
Table 5.1 presents information as of September 30, 2014 and December 31, 2013 on mortgage loans held for portfolio (in thousands): | |||||||
Table 5.1 | |||||||
9/30/14 | 12/31/13 | ||||||
Real estate: | |||||||
Fixed rate, medium-term1, single-family mortgages | $ | 1,547,993 | $ | 1,611,289 | |||
Fixed rate, long-term, single-family mortgages | 4,516,799 | 4,245,351 | |||||
Total unpaid principal balance | 6,064,792 | 5,856,640 | |||||
Premiums | 99,213 | 95,755 | |||||
Discounts | (3,180 | ) | (3,659 | ) | |||
Deferred loan costs, net | 879 | 1,087 | |||||
Other deferred fees | (175 | ) | (212 | ) | |||
Hedging adjustments | 7,884 | 6,617 | |||||
Total before Allowance for Credit Losses on Mortgage Loans | 6,169,413 | 5,956,228 | |||||
Allowance for Credit Losses on Mortgage Loans | (4,591 | ) | (6,748 | ) | |||
MORTGAGE LOANS HELD FOR PORTFOLIO, NET | $ | 6,164,822 | $ | 5,949,480 | |||
1 | Medium-term defined as a term of 15 years or less at origination. | ||||||
Schedule Of Mortgage Loans Held For Portfolio By Collateral Or Guarantee Type | ' | ||||||
Table 5.2 presents information as of September 30, 2014 and December 31, 2013 on the outstanding unpaid principal balance (UPB) of mortgage loans held for portfolio (in thousands): | |||||||
Table 5.2 | |||||||
9/30/14 | 12/31/13 | ||||||
Conventional loans | $ | 5,426,691 | $ | 5,212,048 | |||
Government-guaranteed or insured loans | 638,101 | 644,592 | |||||
TOTAL UNPAID PRINCIPAL BALANCE | $ | 6,064,792 | $ | 5,856,640 | |||
Allowance_For_Credit_Losses_Ta
Allowance For Credit Losses (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Loans and Leases Receivable, Allowance [Abstract] | ' | |||||||||||||||
Allowance For Credit Losses On Financing Receivables | ' | |||||||||||||||
Table 6.1 presents a roll-forward of the allowance for credit losses for the three and nine months ended September 30, 2014 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 September 30, 2014 (in thousands): | ||||||||||||||||
Table 6.1 | ||||||||||||||||
9/30/14 | ||||||||||||||||
Conventional | Government | Credit | Direct | Total | ||||||||||||
Loans | Loans | Products1 | Financing | |||||||||||||
Lease | ||||||||||||||||
Receivable | ||||||||||||||||
Allowance for credit losses: | ||||||||||||||||
Balance, beginning of three-month period | $ | 4,658 | $ | — | $ | — | $ | — | $ | 4,658 | ||||||
Charge-offs | (149 | ) | — | — | — | (149 | ) | |||||||||
Provision (reversal) for credit losses | 82 | — | — | — | 82 | |||||||||||
Balance, end of three-month period | $ | 4,591 | $ | — | $ | — | $ | — | $ | 4,591 | ||||||
Balance, beginning of nine-month period | $ | 6,748 | $ | — | $ | — | $ | — | $ | 6,748 | ||||||
Charge-offs | (425 | ) | — | — | — | (425 | ) | |||||||||
Provision (reversal) for credit losses | (1,732 | ) | — | — | — | (1,732 | ) | |||||||||
Balance, end of nine-month period | $ | 4,591 | $ | — | $ | — | $ | — | $ | 4,591 | ||||||
Allowance for credit losses, end of period: | ||||||||||||||||
Individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||
Collectively evaluated for impairment | $ | 4,591 | $ | — | $ | — | $ | — | $ | 4,591 | ||||||
Recorded investment2, end of period: | ||||||||||||||||
Individually evaluated for impairment3 | $ | — | $ | — | $ | 20,595,448 | $ | 21,959 | $ | 20,617,407 | ||||||
Collectively evaluated for impairment | $ | 5,543,946 | $ | 655,541 | $ | — | $ | — | $ | 6,199,487 | ||||||
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 6.2 presents a roll-forward of the allowance for credit losses for the three and nine months ended September 30, 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 September 30, 2013 (in thousands): | ||||||||||||||||
Table 6.2 | ||||||||||||||||
9/30/13 | ||||||||||||||||
Conventional | Government | Credit | Direct | Total | ||||||||||||
Loans | Loans | Products1 | Financing | |||||||||||||
Lease | ||||||||||||||||
Receivable | ||||||||||||||||
Allowance for credit losses: | ||||||||||||||||
Balance, beginning of three-month period | $ | 6,590 | $ | — | $ | — | $ | — | $ | 6,590 | ||||||
Charge-offs | (229 | ) | — | — | — | (229 | ) | |||||||||
Provision (reversal) for credit losses | 530 | — | — | — | 530 | |||||||||||
Balance, end of three-month period | $ | 6,891 | $ | — | $ | — | $ | — | $ | 6,891 | ||||||
Balance, beginning of nine-month period | $ | 5,416 | $ | — | $ | — | $ | — | $ | 5,416 | ||||||
Charge-offs | (586 | ) | — | — | — | (586 | ) | |||||||||
Provision (reversal) for credit losses | 2,061 | — | — | — | 2,061 | |||||||||||
Balance, end of nine-month period | $ | 6,891 | $ | — | $ | — | $ | — | $ | 6,891 | ||||||
Allowance for credit losses, end of period: | ||||||||||||||||
Individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||
Collectively evaluated for impairment | $ | 6,891 | $ | — | $ | — | $ | — | $ | 6,891 | ||||||
Recorded investment2, end of period: | ||||||||||||||||
Individually evaluated for impairment3 | $ | — | $ | — | $ | 18,826,525 | $ | 24,049 | $ | 18,850,574 | ||||||
Collectively evaluated for impairment | $ | 5,280,393 | $ | 667,431 | $ | — | $ | — | $ | 5,947,824 | ||||||
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 6.3 summarizes the delinquency aging and key credit quality indicators for all of the FHLBank’s portfolio segments as of September 30, 2014 (dollar amounts in thousands): | ||||||||||||||||
Table 6.3 | ||||||||||||||||
9/30/14 | ||||||||||||||||
Conventional | Government | Credit | Direct | Total | ||||||||||||
Loans | Loans | Products1 | Financing | |||||||||||||
Lease | ||||||||||||||||
Receivable | ||||||||||||||||
Recorded investment2: | ||||||||||||||||
Past due 30-59 days delinquent | $ | 30,679 | $ | 20,282 | $ | — | $ | — | $ | 50,961 | ||||||
Past due 60-89 days delinquent | 6,992 | 5,287 | — | — | 12,279 | |||||||||||
Past due 90 days or more delinquent | 14,886 | 5,968 | — | — | 20,854 | |||||||||||
Total past due | 52,557 | 31,537 | — | — | 84,094 | |||||||||||
Total current loans | 5,491,389 | 624,004 | 20,595,448 | 21,959 | 26,732,800 | |||||||||||
Total recorded investment | $ | 5,543,946 | $ | 655,541 | $ | 20,595,448 | $ | 21,959 | $ | 26,816,894 | ||||||
Other delinquency statistics: | ||||||||||||||||
In process of foreclosure, included above3 | $ | 5,964 | $ | 2,705 | $ | — | $ | — | $ | 8,669 | ||||||
Serious delinquency rate4 | 0.3 | % | 0.9 | % | — | % | — | % | 0.1 | % | ||||||
Past due 90 days or more and still accruing interest | $ | — | $ | 5,968 | $ | — | $ | — | $ | 5,968 | ||||||
Loans on non-accrual status5 | $ | 18,843 | $ | — | $ | — | $ | — | $ | 18,843 | ||||||
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 $1,580,000 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 6.4 summarizes the key credit quality indicators for the FHLBank’s mortgage loans as of December 31, 2013 (dollar amounts in thousands): | ||||||||||||||||
Table 6.4 | ||||||||||||||||
12/31/13 | ||||||||||||||||
Conventional | Government | Credit | Direct | Total | ||||||||||||
Loans | Loans | Products1 | Financing | |||||||||||||
Lease | ||||||||||||||||
Receivable | ||||||||||||||||
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. |
Derivatives_And_Hedging_Activi1
Derivatives And Hedging Activities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | ' | ||||||||||||||||||||||||
Schedule Of Derivative Instruments | ' | ||||||||||||||||||||||||
Table 7.1 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 September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||
Table 7.1 | |||||||||||||||||||||||||
9/30/14 | 12/31/13 | ||||||||||||||||||||||||
Notional | Derivative | Derivative | Notional | Derivative | Derivative | ||||||||||||||||||||
Amount | Assets | Liabilities | Amount | Assets | Liabilities | ||||||||||||||||||||
Fair value hedges: | |||||||||||||||||||||||||
Interest rate swaps | $ | 11,091,152 | $ | 101,356 | $ | 216,727 | $ | 10,285,231 | $ | 127,059 | $ | 347,123 | |||||||||||||
Interest rate caps/floors | 247,000 | — | 1,366 | 247,000 | — | 2,648 | |||||||||||||||||||
Total fair value hedges | 11,338,152 | 101,356 | 218,093 | 10,532,231 | 127,059 | 349,771 | |||||||||||||||||||
Economic hedges: | |||||||||||||||||||||||||
Interest rate swaps | 2,616,820 | 1,305 | 81,466 | 3,691,820 | 4,260 | 120,166 | |||||||||||||||||||
Interest rate caps/floors | 4,205,800 | 17,196 | 50 | 4,627,800 | 41,463 | 103 | |||||||||||||||||||
Mortgage delivery commitments | 64,698 | 85 | 53 | 65,620 | 24 | 289 | |||||||||||||||||||
Total economic hedges | 6,887,318 | 18,586 | 81,569 | 8,385,240 | 45,747 | 120,558 | |||||||||||||||||||
TOTAL | $ | 18,225,470 | 119,942 | 299,662 | $ | 18,917,471 | 172,806 | 470,329 | |||||||||||||||||
Netting adjustments1 | (179,800 | ) | (179,800 | ) | (161,161 | ) | (161,161 | ) | |||||||||||||||||
Cash collateral2 | 85,956 | (68,445 | ) | 16,312 | (200,815 | ) | |||||||||||||||||||
DERIVATIVE ASSETS AND LIABILITIES | $ | 26,098 | $ | 51,417 | $ | 27,957 | $ | 108,353 | |||||||||||||||||
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. | ||||||||||||||||||||||||
Schedule Of Derivative Instruments, Gain (Loss) In Statement Of Financial Performance | ' | ||||||||||||||||||||||||
For the three and nine months ended September 30, 2014 and 2013, the FHLBank recorded net gain (loss) on derivatives and hedging activities as presented in Table 7.2 (in thousands): | |||||||||||||||||||||||||
Table 7.2 | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
9/30/14 | 9/30/13 | 9/30/14 | 9/30/13 | ||||||||||||||||||||||
Derivatives and hedge items in fair value hedging relationships: | |||||||||||||||||||||||||
Interest rate swaps | $ | 141 | $ | 856 | $ | (708 | ) | $ | (4,441 | ) | |||||||||||||||
Total net gain (loss) related to fair value hedge ineffectiveness | 141 | 856 | (708 | ) | (4,441 | ) | |||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||
Economic hedges: | |||||||||||||||||||||||||
Interest rate swaps | 11,469 | 5,524 | 26,332 | 31,116 | |||||||||||||||||||||
Interest rate caps/floors | (4,089 | ) | (3,908 | ) | (25,569 | ) | 7,514 | ||||||||||||||||||
Net interest settlements | (9,799 | ) | (9,966 | ) | (29,585 | ) | (28,352 | ) | |||||||||||||||||
Mortgage delivery commitments | 60 | 1,903 | 2,979 | (2,945 | ) | ||||||||||||||||||||
Intermediary transactions: | |||||||||||||||||||||||||
Interest rate swaps | — | (1 | ) | — | (17 | ) | |||||||||||||||||||
Total net gain (loss) related to derivatives not designated as hedging instruments | (2,359 | ) | (6,448 | ) | (25,843 | ) | 7,316 | ||||||||||||||||||
NET GAIN (LOSS) ON DERIVATIVES AND HEDGING ACTIVITIES | $ | (2,218 | ) | $ | (5,592 | ) | $ | (26,551 | ) | $ | 2,875 | ||||||||||||||
Summary Of Derivatives And Related Hedged Items In Fair Value Hedging Relationships | ' | ||||||||||||||||||||||||
For the three months ended September 30, 2014 and 2013, 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 7.3 (in thousands): | |||||||||||||||||||||||||
Table 7.3 | |||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
9/30/14 | 9/30/13 | ||||||||||||||||||||||||
Gain (Loss) on Derivatives | Gain (Loss) on Hedged Items | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income1 | Gain (Loss) on Derivatives | Gain (Loss) on Hedged Items | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income1 | ||||||||||||||||||
Advances | $ | 47,481 | $ | (46,986 | ) | $ | 495 | $ | (35,539 | ) | $ | 10,788 | $ | (10,509 | ) | $ | 279 | $ | (38,948 | ) | |||||
Consolidated obligation bonds | (21,925 | ) | 21,571 | $ | (354 | ) | 23,343 | (6,137 | ) | 6,714 | $ | 577 | 28,297 | ||||||||||||
TOTAL | $ | 25,556 | $ | (25,415 | ) | $ | 141 | $ | (12,196 | ) | $ | 4,651 | $ | (3,795 | ) | $ | 856 | $ | (10,651 | ) | |||||
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. | ||||||||||||||||||||||||
For the nine months ended September 30, 2014 and 2013, 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 7.4 (in thousands): | |||||||||||||||||||||||||
Table 7.4 | |||||||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||
9/30/14 | 9/30/13 | ||||||||||||||||||||||||
Gain (Loss) on Derivatives | Gain (Loss) on Hedged Items | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income1 | Gain (Loss) on Derivatives | Gain (Loss) on Hedged Items | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income1 | ||||||||||||||||||
Advances | $ | 68,762 | $ | (67,956 | ) | $ | 806 | $ | (106,619 | ) | $ | 145,881 | $ | (143,497 | ) | $ | 2,384 | $ | (119,789 | ) | |||||
Consolidated obligation bonds | 32,233 | (33,747 | ) | $ | (1,514 | ) | 69,123 | (122,886 | ) | 116,061 | $ | (6,825 | ) | 81,098 | |||||||||||
TOTAL | $ | 100,995 | $ | (101,703 | ) | $ | (708 | ) | $ | (37,496 | ) | $ | 22,995 | $ | (27,436 | ) | $ | (4,441 | ) | $ | (38,691 | ) | |||
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_Tables
Deposits (Tables) | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Deposits [Abstract] | ' | ||||||
Schedule Of Deposit Liabilities By Component | ' | ||||||
Table 8.1 details the types of deposits held by the FHLBank as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||
Table 8.1 | |||||||
9/30/14 | 12/31/13 | ||||||
Interest-bearing: | |||||||
Demand | $ | 208,032 | $ | 214,645 | |||
Overnight | 377,900 | 686,100 | |||||
Term | 53,500 | 23,800 | |||||
Total interest-bearing | 639,432 | 924,545 | |||||
Non-interest-bearing: | |||||||
Demand | 37,637 | 37,343 | |||||
Total non-interest-bearing | 37,637 | 37,343 | |||||
TOTAL DEPOSITS | $ | 677,069 | $ | 961,888 | |||
Consolidated_Obligations_Table
Consolidated Obligations (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Federal Home Loan Bank, Consolidated Obligations [Abstract] | ' | ||||||||||
Schedule Of Maturities Of Consolidated Obligations | ' | ||||||||||
Table 9.1 presents the FHLBank’s participation in consolidated obligation bonds outstanding as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||
Table 9.1 | |||||||||||
9/30/14 | 12/31/13 | ||||||||||
Year of Contractual Maturity | Amount | Weighted | Amount | Weighted | |||||||
Average | Average | ||||||||||
Interest | Interest | ||||||||||
Rate | Rate | ||||||||||
Due in one year or less | $ | 5,289,500 | 0.49 | % | $ | 6,177,700 | 0.74 | % | |||
Due after one year through two years | 3,611,250 | 0.96 | 3,182,300 | 0.69 | |||||||
Due after two years through three years | 1,561,000 | 1.65 | 1,635,750 | 1.7 | |||||||
Due after three years through four years | 1,451,375 | 2.24 | 1,397,935 | 2.56 | |||||||
Due after four years through five years | 1,774,250 | 1.46 | 1,333,940 | 1.79 | |||||||
Thereafter | 6,294,150 | 2.34 | 6,312,600 | 2.28 | |||||||
Total par value | 19,981,525 | 1.46 | % | 20,040,225 | 1.49 | % | |||||
Premiums | 29,936 | 36,613 | |||||||||
Discounts | (4,254 | ) | (4,605 | ) | |||||||
Hedging adjustments | 18,265 | (15,269 | ) | ||||||||
TOTAL | $ | 20,025,472 | $ | 20,056,964 | |||||||
Schedule Of Consolidated Obligations, By Maturity Or Next Call Date | ' | ||||||||||
Table 9.2 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 September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||
Table 9.2 | |||||||||||
Year of Maturity or Next Call Date | 9/30/14 | 12/31/13 | |||||||||
Due in one year or less | $ | 14,555,500 | $ | 14,189,700 | |||||||
Due after one year through two years | 3,296,250 | 3,248,300 | |||||||||
Due after two years through three years | 957,000 | 1,126,750 | |||||||||
Due after three years through four years | 639,375 | 761,935 | |||||||||
Due after four years through five years | 176,250 | 378,940 | |||||||||
Thereafter | 357,150 | 334,600 | |||||||||
TOTAL PAR VALUE | $ | 19,981,525 | $ | 20,040,225 | |||||||
Schedule Of Consolidated Obligations, By Interest Rate Terms | ' | ||||||||||
Table 9.3 summarizes interest rate payment terms for consolidated obligation bonds as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||
Table 9.3 | |||||||||||
9/30/14 | 12/31/13 | ||||||||||
Fixed rate | $ | 11,681,525 | $ | 11,705,225 | |||||||
Simple variable rate | 5,355,000 | 5,895,000 | |||||||||
Step up/step down | 2,720,000 | 2,220,000 | |||||||||
Range | 120,000 | 90,000 | |||||||||
Fixed to variable rate | 80,000 | 45,000 | |||||||||
Variable to fixed rate | 25,000 | 85,000 | |||||||||
TOTAL PAR VALUE | $ | 19,981,525 | $ | 20,040,225 | |||||||
Schedule Of Consolidated Obligations, Current Portion | ' | ||||||||||
Table 9.4 summarizes the FHLBank’s participation in consolidated obligation discount notes, all of which are due within one year (in thousands): | |||||||||||
Table 9.4 | |||||||||||
Book Value | Par Value | Weighted | |||||||||
Average | |||||||||||
Interest | |||||||||||
Rate1 | |||||||||||
September 30, 2014 | $ | 15,947,588 | $ | 15,949,485 | 0.07 | % | |||||
December 31, 2013 | $ | 10,889,565 | $ | 10,890,528 | 0.08 | % | |||||
1 | Represents yield to maturity excluding concession fees. |
Affordable_Housing_Program_Tab
Affordable Housing Program (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Affordable Housing Program [Abstract] | ' | ||||||||||||
Schedule Of Change In AHP Liability | ' | ||||||||||||
Table 10.1 details the change in the AHP liability for the three and nine months ended September 30, 2014 and 2013 (in thousands): | |||||||||||||
Table 10.1 | |||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||
9/30/14 | 9/30/13 | 9/30/14 | 9/30/13 | ||||||||||
Appropriated and reserved AHP funds as of the beginning of the period | $ | 34,937 | $ | 32,501 | $ | 35,264 | $ | 31,198 | |||||
AHP set aside based on current year income | 3,181 | 3,176 | 8,833 | 9,120 | |||||||||
Direct grants disbursed | (6,227 | ) | (2,547 | ) | (12,372 | ) | (7,298 | ) | |||||
Recaptured funds1 | 53 | 99 | 219 | 209 | |||||||||
Appropriated and reserved AHP funds as of the end of the period | $ | 31,944 | $ | 33,229 | $ | 31,944 | $ | 33,229 | |||||
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 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) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Offsetting [Abstract] | ' | |||||||||||||||
Schedule of Offsetting Assets | ' | |||||||||||||||
Tables 11.1 and 11.2 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 September 30, 2014 and December 31, 2013 (in thousands): | ||||||||||||||||
Table 11.1 | ||||||||||||||||
9/30/14 | ||||||||||||||||
Description | Gross Amounts | Gross Amounts | Net Amounts | Gross Amounts | Net | |||||||||||
of Recognized | Offset | of Assets | Not Offset | Amount | ||||||||||||
Assets | in the | Presented | in the | |||||||||||||
Statement of | in the | Statement of | ||||||||||||||
Condition | Statement of | Condition1 | ||||||||||||||
Condition | ||||||||||||||||
Derivative assets: | ||||||||||||||||
Bilateral derivatives | $ | 117,701 | $ | (108,573 | ) | $ | 9,128 | $ | (85 | ) | $ | 9,043 | ||||
Cleared derivatives | 2,241 | 14,729 | 16,970 | — | 16,970 | |||||||||||
Total derivative assets | 119,942 | (93,844 | ) | 26,098 | (85 | ) | 26,013 | |||||||||
Securities purchased under agreements to resell | 1,075,000 | — | 1,075,000 | (1,075,000 | ) | — | ||||||||||
TOTAL | $ | 1,194,942 | $ | (93,844 | ) | $ | 1,101,098 | $ | (1,075,085 | ) | $ | 26,013 | ||||
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). | |||||||||||||||
Table 11.2 | ||||||||||||||||
12/31/13 | ||||||||||||||||
Description | Gross Amounts | Gross Amounts | Net Amounts | Gross Amounts | Net | |||||||||||
of Recognized | Offset | of Assets | Not Offset | Amount | ||||||||||||
Assets | in the | Presented | in the | |||||||||||||
Statement of | in the | Statement of | ||||||||||||||
Condition | Statement of | Condition1 | ||||||||||||||
Condition | ||||||||||||||||
Derivative assets: | ||||||||||||||||
Bilateral derivatives | $ | 165,894 | $ | (150,968 | ) | $ | 14,926 | $ | (24 | ) | $ | 14,902 | ||||
Cleared derivatives | 6,912 | 6,119 | 13,031 | — | 13,031 | |||||||||||
Total derivative assets | 172,806 | (144,849 | ) | 27,957 | (24 | ) | 27,933 | |||||||||
TOTAL | $ | 172,806 | $ | (144,849 | ) | $ | 27,957 | $ | (24 | ) | $ | 27,933 | ||||
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). | |||||||||||||||
Schedule of Offsetting Liabilities | ' | |||||||||||||||
Tables 11.3 and 11.4 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 September 30, 2014 and December 31, 2013 (in thousands): | ||||||||||||||||
Table 11.3 | ||||||||||||||||
9/30/14 | ||||||||||||||||
Description | Gross Amounts | Gross Amounts | Net Amounts | Gross Amounts | Net | |||||||||||
of Recognized | Offset | of Liabilities | Not Offset | Amount | ||||||||||||
Liabilities | in the | Presented | in the | |||||||||||||
Statement of | in the | Statement of | ||||||||||||||
Condition | Statement of | Condition1 | ||||||||||||||
Condition | ||||||||||||||||
Derivative liabilities: | ||||||||||||||||
Bilateral derivatives | $ | 285,371 | $ | (233,954 | ) | $ | 51,417 | $ | (103 | ) | $ | 51,314 | ||||
Cleared derivatives | 14,291 | (14,291 | ) | — | — | — | ||||||||||
Total derivative liabilities | 299,662 | (248,245 | ) | 51,417 | (103 | ) | 51,314 | |||||||||
TOTAL | $ | 299,662 | $ | (248,245 | ) | $ | 51,417 | $ | (103 | ) | $ | 51,314 | ||||
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). | |||||||||||||||
Table 11.4 | ||||||||||||||||
12/31/13 | ||||||||||||||||
Description | Gross Amounts | Gross Amounts | Net Amounts | Gross Amounts | Net | |||||||||||
of Recognized | Offset | of Liabilities | Not Offset | Amount | ||||||||||||
Liabilities | in the | Presented | in the | |||||||||||||
Statement of | in the | Statement of | ||||||||||||||
Condition | Statement of | Condition1 | ||||||||||||||
Condition | ||||||||||||||||
Derivative liabilities: | ||||||||||||||||
Bilateral derivatives | $ | 470,290 | $ | (361,937 | ) | $ | 108,353 | $ | (392 | ) | $ | 107,961 | ||||
Cleared derivatives | 39 | (39 | ) | — | — | — | ||||||||||
Total derivative liabilities | 470,329 | (361,976 | ) | 108,353 | (392 | ) | 107,961 | |||||||||
TOTAL | $ | 470,329 | $ | (361,976 | ) | $ | 108,353 | $ | (392 | ) | $ | 107,961 | ||||
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_Tables
Capital (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Capital [Abstract] | ' | ||||||||||||
Schedule Of Compliance With Regulatory Capital Requirements | ' | ||||||||||||
Table 12.1 illustrates that the FHLBank was in compliance with its regulatory capital requirements as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||
Table 12.1 | |||||||||||||
9/30/14 | 12/31/13 | ||||||||||||
Required | Actual | Required | Actual | ||||||||||
Regulatory capital requirements: | |||||||||||||
Risk-based capital | $ | 376,228 | $ | 1,554,019 | $ | 414,914 | $ | 1,389,646 | |||||
Total regulatory capital-to-asset ratio | 4 | % | 4.4 | % | 4 | % | 5.4 | % | |||||
Total regulatory capital | $ | 1,541,122 | $ | 1,709,826 | $ | 1,358,012 | $ | 1,824,345 | |||||
Leverage capital ratio | 5 | % | 6.5 | % | 5 | % | 7.4 | % | |||||
Leverage capital | $ | 1,926,402 | $ | 2,486,835 | $ | 1,697,515 | $ | 2,519,168 | |||||
Schedule Of Mandatorily Redeemable Capital Stock | ' | ||||||||||||
Table 12.2 provides the related dollar amounts for activities recorded in “Mandatorily redeemable capital stock” during the three and nine months ended September 30, 2014 and 2013 (in thousands): | |||||||||||||
Table 12.2 | |||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||
9/30/14 | 9/30/13 | 9/30/14 | 9/30/13 | ||||||||||
Balance at beginning of period | $ | 4,519 | $ | 5,410 | $ | 4,764 | $ | 5,665 | |||||
Capital stock subject to mandatory redemption reclassified from equity during the period | 58,794 | 99,455 | 228,102 | 207,150 | |||||||||
Redemption or repurchase of mandatorily redeemable capital stock during the period | (58,954 | ) | (99,687 | ) | (228,522 | ) | (207,649 | ) | |||||
Stock dividend classified as mandatorily redeemable capital stock during the period | 12 | 6 | 27 | 18 | |||||||||
Balance at end of period | $ | 4,371 | $ | 5,184 | $ | 4,371 | $ | 5,184 | |||||
Schedule Of Mandatorily Redeemable Capital Stock, By Contractual Year Of Repurchase | ' | ||||||||||||
Table 12.3 shows the amount of mandatorily redeemable capital stock by contractual year of redemption as of September 30, 2014 and December 31, 2013 (in thousands). The year of redemption in Table 12.3 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 6 months (for Class A Common Stock) or 5 years (for 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 12.3 | |||||||||||||
Contractual Year of Repurchase | 9/30/14 | 12/31/13 | |||||||||||
Year 1 | $ | — | $ | 166 | |||||||||
Year 2 | 53 | 52 | |||||||||||
Year 3 | 1 | — | |||||||||||
Year 4 | 24 | — | |||||||||||
Year 5 | — | 74 | |||||||||||
Past contractual redemption date due to remaining activity1 | 4,293 | 4,472 | |||||||||||
TOTAL | $ | 4,371 | $ | 4,764 | |||||||||
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_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||
Summary Of Changes In Accumulated Other Comprehensive Income | ' | |||||||||
Table 13.1 summarizes the changes in AOCI for the three months ended September 30, 2014 and 2013 (in thousands): | ||||||||||
Table 13.1 | ||||||||||
Three Months Ended | ||||||||||
Net Non-credit Portion of OTTI Losses on | Defined Benefit Pension Plan | Total AOCI | ||||||||
Held-to-maturity Securities | ||||||||||
Balance at June 30, 2013 | $ | (17,979 | ) | $ | (4,210 | ) | $ | (22,189 | ) | |
Other comprehensive income (loss) before reclassification: | ||||||||||
Non-credit OTTI losses | (5 | ) | (5 | ) | ||||||
Accretion of non-credit loss | 738 | 738 | ||||||||
Reclassifications from other comprehensive income (loss) to net income: | ||||||||||
Non-credit OTTI to credit OTTI1 | 300 | 300 | ||||||||
Amortization of net loss - defined benefit pension plan2 | 101 | 101 | ||||||||
Net current period other comprehensive income (loss) | 1,033 | 101 | 1,134 | |||||||
Balance at September 30, 2013 | $ | (16,946 | ) | $ | (4,109 | ) | $ | (21,055 | ) | |
Balance at June 30, 2014 | $ | (13,848 | ) | $ | (2,269 | ) | $ | (16,117 | ) | |
Other comprehensive income (loss) before reclassification: | ||||||||||
Accretion of non-credit loss | 1,002 | 1,002 | ||||||||
Reclassifications from other comprehensive income (loss) to net income: | ||||||||||
Non-credit OTTI to credit OTTI1 | 20 | 20 | ||||||||
Amortization of net loss - defined benefit pension plan2 | 38 | 38 | ||||||||
Net current period other comprehensive income (loss) | 1,022 | 38 | 1,060 | |||||||
Balance at September 30, 2014 | $ | (12,826 | ) | $ | (2,231 | ) | $ | (15,057 | ) | |
1 | Recorded 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)). | |||||||||
2 | Recorded in “Compensation and benefits” on the Statements of Income. Amount represents a debit (increase to other expenses). | |||||||||
Table 13.2 summarizes the changes in AOCI for the nine months ended September 30, 2014 and 2013 (in thousands): | ||||||||||
Table 13.2 | ||||||||||
Nine Months Ended | ||||||||||
Net Non-credit Portion of OTTI Losses on | Defined Benefit Pension Plan | Total AOCI | ||||||||
Held-to-maturity Securities | ||||||||||
Balance at 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 loss | 3,467 | 3,467 | ||||||||
Reclassifications from other comprehensive income (loss) to net income: | ||||||||||
Non-credit OTTI to credit OTTI1 | 452 | 452 | ||||||||
Amortization of net loss - defined benefit pension plan2 | 302 | 302 | ||||||||
Net current period other comprehensive income (loss) | 3,900 | 302 | 4,202 | |||||||
Balance at September 30, 2013 | $ | (16,946 | ) | $ | (4,109 | ) | $ | (21,055 | ) | |
Balance at December 31, 2013 | $ | (16,003 | ) | $ | (2,358 | ) | $ | (18,361 | ) | |
Other comprehensive income (loss) before reclassification: | ||||||||||
Accretion of non-credit loss | 2,734 | 2,734 | ||||||||
Reclassifications from other comprehensive income (loss) to net income: | ||||||||||
Non-credit OTTI to credit OTTI1 | 443 | 443 | ||||||||
Amortization of net loss - defined benefit pension plan2 | 127 | 127 | ||||||||
Net current period other comprehensive income (loss) | 3,177 | 127 | 3,304 | |||||||
Balance at September 30, 2014 | $ | (12,826 | ) | $ | (2,231 | ) | $ | (15,057 | ) | |
1 | Recorded 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)). | |||||||||
2 | Recorded in “Compensation and benefits” on the Statements of Income. Amount represents a debit (increase to other expenses). |
Fair_Values_Tables
Fair Values (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||
Fair Value, By Balance Sheet Grouping | ' | ||||||||||||||||||
The carrying value and fair value of the FHLBank’s financial assets and liabilities as of September 30, 2014 and December 31, 2013 are summarized in Tables 14.1 and 14.2 (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 14.1 | |||||||||||||||||||
9/30/14 | |||||||||||||||||||
Carrying | Total | Level 1 | Level 2 | Level 3 | Netting | ||||||||||||||
Value | Fair | Adjustment | |||||||||||||||||
Value | and Cash | ||||||||||||||||||
Collateral | |||||||||||||||||||
Assets: | |||||||||||||||||||
Cash and due from banks | $ | 2,571,350 | $ | 2,571,350 | $ | 2,571,350 | $ | — | $ | — | $ | — | |||||||
Interest-bearing deposits | 146 | 146 | — | 146 | — | — | |||||||||||||
Securities purchased under agreements to resell | 1,075,000 | 1,075,000 | — | 1,075,000 | — | — | |||||||||||||
Federal funds sold | 1,450,000 | 1,450,000 | — | 1,450,000 | — | — | |||||||||||||
Trading securities | 1,476,212 | 1,476,212 | — | 1,476,212 | — | — | |||||||||||||
Held-to-maturity securities | 5,074,263 | 5,085,070 | — | 4,703,646 | 381,424 | — | |||||||||||||
Advances | 20,574,600 | 20,635,315 | — | 20,635,315 | — | — | |||||||||||||
Mortgage loans held for portfolio, net of allowance | 6,164,822 | 6,331,505 | — | 6,331,505 | — | — | |||||||||||||
Accrued interest receivable | 63,232 | 63,232 | — | 63,232 | — | — | |||||||||||||
Derivative assets | 26,098 | 26,098 | — | 119,942 | — | (93,844 | ) | ||||||||||||
Liabilities: | |||||||||||||||||||
Deposits | 677,069 | 677,069 | — | 677,069 | — | — | |||||||||||||
Consolidated obligation discount notes | 15,947,588 | 15,947,112 | — | 15,947,112 | — | — | |||||||||||||
Consolidated obligation bonds | 20,025,472 | 19,975,760 | — | 19,975,760 | — | — | |||||||||||||
Mandatorily redeemable capital stock | 4,371 | 4,371 | 4,371 | — | — | — | |||||||||||||
Accrued interest payable | 71,757 | 71,757 | — | 71,757 | — | — | |||||||||||||
Derivative liabilities | 51,417 | 51,417 | — | 299,662 | — | (248,245 | ) | ||||||||||||
Other Asset (Liability): | |||||||||||||||||||
Standby letters of credit | (777 | ) | (777 | ) | — | (777 | ) | — | — | ||||||||||
Standby bond purchase agreements | 276 | 6,009 | — | 6,009 | — | — | |||||||||||||
Advance commitments | — | (784 | ) | — | (784 | ) | — | — | |||||||||||
Table 14.2 | |||||||||||||||||||
12/31/13 | |||||||||||||||||||
Carrying | Total | Level 1 | Level 2 | Level 3 | Netting | ||||||||||||||
Value | Fair | Adjustment | |||||||||||||||||
Value | and Cash | ||||||||||||||||||
Collateral | |||||||||||||||||||
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 | ) | — | — | |||||||||||
Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ' | ||||||||||||||||||
Tables 14.3 and 14.4 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 September 30, 2014 and December 31, 2013 (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 14.3 | |||||||||||||||||||
9/30/14 | |||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Netting | |||||||||||||||
Adjustment | |||||||||||||||||||
and Cash | |||||||||||||||||||
Collateral1 | |||||||||||||||||||
Recurring fair value measurements - Assets: | |||||||||||||||||||
Trading securities: | |||||||||||||||||||
U.S. Treasury obligations | $ | 25,031 | $ | — | $ | 25,031 | $ | — | $ | — | |||||||||
Government-sponsored enterprise obligations2,3 | 1,306,245 | — | 1,306,245 | — | — | ||||||||||||||
U.S. obligation residential MBS4 | 986 | — | 986 | — | — | ||||||||||||||
Government-sponsored enterprise residential MBS5 | 143,950 | — | 143,950 | — | — | ||||||||||||||
Total trading securities | 1,476,212 | — | 1,476,212 | — | — | ||||||||||||||
Derivative assets: | |||||||||||||||||||
Interest-rate related | 26,013 | — | 119,857 | — | (93,844 | ) | |||||||||||||
Mortgage delivery commitments | 85 | — | 85 | — | — | ||||||||||||||
Total derivative assets | 26,098 | — | 119,942 | — | (93,844 | ) | |||||||||||||
TOTAL RECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 1,502,310 | $ | — | $ | 1,596,154 | $ | — | $ | (93,844 | ) | ||||||||
Recurring fair value measurements - Liabilities: | |||||||||||||||||||
Derivative liabilities: | |||||||||||||||||||
Interest-rate related | $ | 51,364 | $ | — | $ | 299,609 | $ | — | $ | (248,245 | ) | ||||||||
Mortgage delivery commitments | 53 | — | 53 | — | — | ||||||||||||||
Total derivative liabilities | 51,417 | — | 299,662 | — | (248,245 | ) | |||||||||||||
TOTAL RECURRING FAIR VALUE MEASUREMENTS - LIABILITIES | $ | 51,417 | $ | — | $ | 299,662 | $ | — | $ | (248,245 | ) | ||||||||
Nonrecurring fair value measurements - Assets: | |||||||||||||||||||
Real estate owned6 | $ | 1,368 | $ | — | $ | — | $ | 1,368 | $ | — | |||||||||
TOTAL NONRECURRING FAIR VALUE MEASUREMENTS - ASSETS | $ | 1,368 | $ | — | $ | — | $ | 1,368 | $ | — | |||||||||
1 | 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 clearing agent or derivative counterparty. | ||||||||||||||||||
2 | Represents 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. | ||||||||||||||||||
3 | See Note 17 for transactions with other FHLBanks. | ||||||||||||||||||
4 | Represents MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | ||||||||||||||||||
5 | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | ||||||||||||||||||
6 | Includes real estate owned written down to fair value during the quarter ended September 30, 2014 and still outstanding as of September 30, 2014. | ||||||||||||||||||
Table 14.4 | |||||||||||||||||||
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 | $ | — | |||||||||
1 | 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 clearing agent or derivative counterparty. | ||||||||||||||||||
2 | Represents 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. | ||||||||||||||||||
3 | See Note 17 for transactions with other FHLBanks. | ||||||||||||||||||
4 | Represents MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | ||||||||||||||||||
5 | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | ||||||||||||||||||
6 | Excludes impaired securities with carrying values less than their fair values at date of impairment. | ||||||||||||||||||
7 | Includes real estate owned written down to fair value during the quarter ended December 31, 2013 and still outstanding as of December 31, 2013. |
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||||||||
Schedule Of Off Balance Sheet Commitments | ' | ||||||||||||||||||
As of September 30, 2014 and December 31, 2013, off-balance sheet commitments are presented in Table 15.1 (in thousands): | |||||||||||||||||||
Table 15.1 | |||||||||||||||||||
9/30/14 | 12/31/13 | ||||||||||||||||||
Notional Amount | Expire | Expire | Total | Expire | Expire | Total | |||||||||||||
Within | After | Within | After | ||||||||||||||||
One Year | One Year | One Year | One Year | ||||||||||||||||
Standby letters of credit outstanding | $ | 2,231,143 | $ | 10,655 | $ | 2,241,798 | $ | 2,530,810 | $ | 12,038 | $ | 2,542,848 | |||||||
Standby credit facility commitments outstanding | — | — | — | 50,000 | — | 50,000 | |||||||||||||
Advance commitments outstanding | — | 24,796 | 24,796 | 6,000 | — | 6,000 | |||||||||||||
Commitments for standby bond purchases | 586,911 | 993,348 | 1,580,259 | 363,777 | 1,293,972 | 1,657,749 | |||||||||||||
Commitments to fund or purchase mortgage loans | 64,698 | — | 64,698 | 65,620 | — | 65,620 | |||||||||||||
Commitments to issue consolidated bonds, at par | 57,000 | — | 57,000 | 75,000 | — | 75,000 | |||||||||||||
Commitments to issue consolidated discount notes, at par | 400,000 | — | 400,000 | 650,000 | — | 650,000 | |||||||||||||
Transactions_With_Stockholders1
Transactions With Stockholders And Housing Associates (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Related Party Transactions, by Balance Sheet Grouping | ' | ||||||||||||||||||||
Tables 16.1 and 16.2 present information as of September 30, 2014 and December 31, 2013 on members that owned more than 10 percent of outstanding FHLBank regulatory capital stock in 2014 or 2013 (amounts in thousands). None of the officers or directors of these members currently serve on the FHLBank’s board of directors. | |||||||||||||||||||||
Table 16.1 | |||||||||||||||||||||
9/30/14 | |||||||||||||||||||||
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 | ||||||||||||||
Capitol Federal Savings Bank | KS | $ | 500 | 0.3 | % | $ | 212,554 | 22.6 | % | $ | 213,054 | 19.5 | % | ||||||||
Bank of Oklahoma, NA | OK | 500 | 0.3 | 154,903 | 16.5 | 155,403 | 14.2 | ||||||||||||||
MidFirst Bank | OK | 500 | 0.3 | 123,619 | 13.2 | 124,119 | 11.3 | ||||||||||||||
TOTAL | $ | 1,500 | 0.9 | % | $ | 491,076 | 52.3 | % | $ | 492,576 | 45 | % | |||||||||
Table 16.2 | |||||||||||||||||||||
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 | % | |||||||||
Advance and deposit balances with members that owned more than 10 percent of outstanding FHLBank regulatory capital stock as of September 30, 2014 and December 31, 2013 are summarized in Table 16.3 (amounts in thousands). Information is only listed for the period in which the member owned more than 10 percent of outstanding FHLBank regulatory capital stock. | |||||||||||||||||||||
Table 16.3 | |||||||||||||||||||||
9/30/14 | 12/31/13 | 9/30/14 | 12/31/13 | ||||||||||||||||||
Member Name | Outstanding Advances | Percent of Total | Outstanding Advances | Percent of Total | Outstanding Deposits | Percent of Total | Outstanding Deposits | Percent of Total | |||||||||||||
Capitol Federal Savings Bank | $ | 3,375,000 | 16.5 | % | $ | 2,525,000 | 14.7 | % | $ | 408 | 0.1 | % | $ | 611 | 0.1 | % | |||||
Bank of Oklahoma, NA | 3,453,400 | 16.9 | 1,447 | 0.2 | |||||||||||||||||
MidFirst Bank | 2,711,500 | 13.3 | 2,720,000 | 15.8 | 566 | 0.1 | 538 | 0.1 | |||||||||||||
TOTAL | $ | 9,539,900 | 46.7 | % | $ | 5,245,000 | 30.5 | % | $ | 2,421 | 0.4 | % | $ | 1,149 | 0.2 | % | |||||
Related Party Transactions, by Balance Sheet Grouping - Directors' | ' | ||||||||||||||||||||
Table 16.4 presents information as of September 30, 2014 and December 31, 2013 for members that had an officer or director serving on the FHLBank’s board of directors in 2014 or 2013 (amounts in thousands). Information is only included 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 16.4 | |||||||||||||||||||||
9/30/14 | 12/31/13 | ||||||||||||||||||||
Outstanding Amount | Percent of Total | Outstanding Amount | Percent of Total | ||||||||||||||||||
Advances | $ | 212,683 | 1 | % | $ | 203,310 | 1.2 | % | |||||||||||||
Deposits | $ | 7,938 | 1.2 | % | $ | 6,220 | 0.6 | % | |||||||||||||
Class A Common Stock | $ | 3,611 | 2.3 | % | $ | 9,380 | 2.1 | % | |||||||||||||
Class B Common Stock | 7,137 | 0.8 | 8,332 | 1 | |||||||||||||||||
TOTAL CAPITAL STOCK | $ | 10,748 | 1 | % | $ | 17,712 | 1.4 | % | |||||||||||||
Schedule Of Related Party Transactions, Mortgage Loans Disclosure | ' | ||||||||||||||||||||
Table 16.5 presents mortgage loans acquired during the three and nine months ended September 30, 2014 and 2013 for members that had an officer or director serving on the FHLBank’s board of directors in 2014 or 2013 (amounts in thousands). | |||||||||||||||||||||
Table 16.5 | |||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||
9/30/14 | 9/30/13 | 9/30/14 | 9/30/13 | ||||||||||||||||||
Amount | Percent of Total | Amount | Percent of Total | Amount | Percent of Total | Amount | Percent of Total | ||||||||||||||
Mortgage loans acquired | $ | 24,855 | 8.3 | % | $ | 8,759 | 3.5 | % | $ | 66,009 | 8.4 | % | $ | 49,851 | 4.9 | % | |||||
Transactions_With_Other_FHLBan1
Transactions With Other FHLBanks (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Transactions With Other FHLBanks [Abstract] | ' | ||||||||||||
Transactions With Other Federal Home Loan Banks | ' | ||||||||||||
FHLBank Topeka had the following business transactions with other FHLBanks during the three and nine months ended September 30, 2014 and 2013 as presented in Table 17.1 (in thousands). All transactions occurred at market prices. | |||||||||||||
Table 17.1 | |||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||
Business Activity | 9/30/14 | 9/30/13 | 9/30/14 | 9/30/13 | |||||||||
Average overnight interbank loan balances to other FHLBanks1 | $ | 543 | $ | 3,261 | $ | 1,176 | $ | 1,817 | |||||
Average overnight interbank loan balances from other FHLBanks1 | 5,000 | 44,837 | 1,832 | 18,278 | |||||||||
Average deposit balances with FHLBank of Chicago for interbank transactions2 | 807 | 2,098 | 640 | 2,434 | |||||||||
Transaction charges paid to FHLBank of Chicago for transaction service fees3 | 824 | 782 | 2,422 | 2,341 | |||||||||
Par amount of purchases of consolidated obligations issued on behalf of other FHLBanks4 | — | 105,500 | — | 150,500 | |||||||||
_________ | |||||||||||||
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 | Balances are interest bearing and are classified on the Statements of Condition as interest-bearing deposits. | ||||||||||||
3 | Fees are calculated monthly based on outstanding loans at the per annum rate in effect at origination. | ||||||||||||
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 $227,227,000 and $260,318,000 as of September 30, 2014 and December 31, 2013, respectively, are included in the non-MBS GSE obligations totals presented in Note 3. Interest income earned on these securities totaled $2,252,000 and $2,050,000 for the three months ended September 30, 2014 and 2013, respectively, and $6,766,000 and $4,882,000 for the nine months ended September 30, 2014 and 2013, respectively. |
Investment_Securities_Narrativ
Investment Securities (Narrative) (Details) (Mortgage-Backed Securities [Member]) | Sep. 30, 2014 |
Mortgage-Backed Securities [Member] | ' |
Investment [Line Items] | ' |
Held-to-Maturity Securities, Other Than Temporarily Impaired, Number of Securities, Life to Date | 26 |
Investment_Securities_Summary_
Investment Securities (Summary Of Trading And Held-To-Maturity Securities) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | $1,476,212 | $2,704,777 | ||
Held-to-maturity securities, Amortized Cost | 5,087,089 | 5,439,662 | ||
Held-to-maturity securities, OTTI Recognized in OCI | 12,826 | 16,003 | ||
Held-to-maturity securities, Carrying Value | 5,074,263 | [1] | 5,423,659 | [1] |
Held-to-maturity securities, Gross Unrecognized Gains | 41,724 | 35,978 | ||
Held-to-maturity securities, Gross Unrecognized Losses | 30,917 | 44,432 | ||
Held-to-maturity securities, Fair Value | 5,085,070 | 5,415,205 | ||
Non-mortgage-backed Securities [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | 1,331,276 | 2,532,987 | ||
Held-to-maturity securities, Amortized Cost | 130,341 | 63,472 | ||
Held-to-maturity securities, OTTI Recognized in OCI | 0 | 0 | ||
Held-to-maturity securities, Carrying Value | 130,341 | 63,472 | ||
Held-to-maturity securities, Gross Unrecognized Gains | 151 | 19 | ||
Held-to-maturity securities, Gross Unrecognized Losses | 6,594 | 8,619 | ||
Held-to-maturity securities, Fair Value | 123,898 | 54,872 | ||
Certificates Of Deposit [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | ' | 260,009 | ||
U.S. Treasury Obligations [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | 25,031 | 25,012 | ||
Government-Sponsored Enterprise Obligations [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | 1,306,245 | [2],[3] | 2,247,966 | [2],[4] |
State Or Local Housing Agency Obligations [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Amortized Cost | 130,341 | 63,472 | ||
Held-to-maturity securities, OTTI Recognized in OCI | 0 | 0 | ||
Held-to-maturity securities, Carrying Value | 130,341 | 63,472 | ||
Held-to-maturity securities, Gross Unrecognized Gains | 151 | 19 | ||
Held-to-maturity securities, Gross Unrecognized Losses | 6,594 | 8,619 | ||
Held-to-maturity securities, Fair Value | 123,898 | 54,872 | ||
Mortgage-Backed Securities [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | 144,936 | 171,790 | ||
Held-to-maturity securities, Amortized Cost | 4,956,748 | 5,376,190 | ||
Held-to-maturity securities, OTTI Recognized in OCI | 12,826 | 16,003 | ||
Held-to-maturity securities, Carrying Value | 4,943,922 | 5,360,187 | ||
Held-to-maturity securities, Gross Unrecognized Gains | 41,573 | 35,959 | ||
Held-to-maturity securities, Gross Unrecognized Losses | 24,323 | 35,813 | ||
Held-to-maturity securities, Fair Value | 4,961,172 | 5,360,333 | ||
U.S. Olbigation MBS [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | 986 | [5] | 1,090 | [6] |
Held-to-maturity securities, Amortized Cost | 60,190 | [5] | 68,977 | [6] |
Held-to-maturity securities, OTTI Recognized in OCI | 0 | [5] | 0 | [6] |
Held-to-maturity securities, Carrying Value | 60,190 | [5] | 68,977 | [6] |
Held-to-maturity securities, Gross Unrecognized Gains | 106 | [5] | 217 | [6] |
Held-to-maturity securities, Gross Unrecognized Losses | 0 | [5] | 14 | [6] |
Held-to-maturity securities, Fair Value | 60,296 | [5] | 69,180 | [6] |
Government-sponsored enterprise MBS [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Trading securities, Fair Value | 143,950 | [7] | 170,700 | [7] |
Held-to-maturity securities, Amortized Cost | 4,630,825 | [7] | 4,974,649 | [7] |
Held-to-maturity securities, OTTI Recognized in OCI | 0 | [7] | 0 | [7] |
Held-to-maturity securities, Carrying Value | 4,630,825 | [7] | 4,974,649 | [7] |
Held-to-maturity securities, Gross Unrecognized Gains | 29,706 | [7] | 21,744 | [7] |
Held-to-maturity securities, Gross Unrecognized Losses | 17,181 | [7] | 27,108 | [7] |
Held-to-maturity securities, Fair Value | 4,643,350 | [7] | 4,969,285 | [7] |
Private-Label Mortgage-Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Amortized Cost | 264,554 | 331,158 | ||
Held-to-maturity securities, OTTI Recognized in OCI | 12,755 | 15,825 | ||
Held-to-maturity securities, Carrying Value | 251,799 | 315,333 | ||
Held-to-maturity securities, Gross Unrecognized Gains | 10,316 | 12,459 | ||
Held-to-maturity securities, Gross Unrecognized Losses | 7,142 | 8,691 | ||
Held-to-maturity securities, Fair Value | 254,973 | 319,101 | ||
Private-label Home Equity Loan ABS [Member] | ' | ' | ||
Schedule Of Trading And Held-To-Maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Amortized Cost | 1,179 | 1,406 | ||
Held-to-maturity securities, OTTI Recognized in OCI | 71 | 178 | ||
Held-to-maturity securities, Carrying Value | 1,108 | 1,228 | ||
Held-to-maturity securities, Gross Unrecognized Gains | 1,445 | 1,539 | ||
Held-to-maturity securities, Gross Unrecognized Losses | 0 | 0 | ||
Held-to-maturity securities, Fair Value | $2,553 | $2,767 | ||
[1] | Fair value:B $5,085,070 and $5,415,205 as of SeptemberB 30, 2014 and DecemberB 31, 2013, respectively. | |||
[2] | See Note 17 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 $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Less Than 12 Months, Fair Value | $331,645 | $2,153,450 | ||
Held-to-maturity securities, Less Than 12 Months, Unrecognized Losses | 1,477 | 17,189 | ||
Held-to-maturity securities, 12 Months or More, Fair Value | 1,325,164 | 598,747 | ||
Held-to-maturity securities, 12 Months or More, Unrecognized Losses | 33,899 | 32,913 | ||
Held-to-maturity securities, Total, Fair Value | 1,656,809 | 2,752,197 | ||
Held-to-maturity securities, Total, Unrecognized Losses | 35,376 | 50,102 | ||
Non-mortgage-backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Less Than 12 Months, Fair Value | 6,143 | 6,660 | ||
Held-to-maturity securities, Less Than 12 Months, Unrecognized Losses | 34 | 367 | ||
Held-to-maturity securities, 12 Months or More, Fair Value | 38,175 | 38,743 | ||
Held-to-maturity securities, 12 Months or More, Unrecognized Losses | 6,560 | 8,252 | ||
Held-to-maturity securities, Total, Fair Value | 44,318 | 45,403 | ||
Held-to-maturity securities, Total, Unrecognized Losses | 6,594 | 8,619 | ||
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 | 6,143 | 6,660 | ||
Held-to-maturity securities, Less Than 12 Months, Unrecognized Losses | 34 | 367 | ||
Held-to-maturity securities, 12 Months or More, Fair Value | 38,175 | 38,743 | ||
Held-to-maturity securities, 12 Months or More, Unrecognized Losses | 6,560 | 8,252 | ||
Held-to-maturity securities, Total, Fair Value | 44,318 | 45,403 | ||
Held-to-maturity securities, Total, Unrecognized Losses | 6,594 | 8,619 | ||
Mortgage-Backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Less Than 12 Months, Fair Value | 325,502 | 2,146,790 | ||
Held-to-maturity securities, Less Than 12 Months, Unrecognized Losses | 1,443 | 16,822 | ||
Held-to-maturity securities, 12 Months or More, Fair Value | 1,286,989 | 560,004 | ||
Held-to-maturity securities, 12 Months or More, Unrecognized Losses | 27,339 | 24,661 | ||
Held-to-maturity securities, Total, Fair Value | 1,612,491 | 2,706,794 | ||
Held-to-maturity securities, Total, Unrecognized Losses | 28,782 | 41,483 | ||
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] | |
Government-sponsored enterprise MBS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Less Than 12 Months, Fair Value | 306,369 | [2] | 2,099,923 | [2] |
Held-to-maturity securities, Less Than 12 Months, Unrecognized Losses | 1,355 | [2] | 16,699 | [2] |
Held-to-maturity securities, 12 Months or More, Fair Value | 1,142,550 | [2] | 384,530 | [2] |
Held-to-maturity securities, 12 Months or More, Unrecognized Losses | 15,826 | [2] | 10,409 | [2] |
Held-to-maturity securities, Total, Fair Value | 1,448,919 | [2] | 2,484,453 | [2] |
Held-to-maturity securities, Total, Unrecognized Losses | 17,181 | [2] | 27,108 | [2] |
Private-Label Mortgage-Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity securities, Less Than 12 Months, Fair Value | 19,133 | 21,053 | ||
Held-to-maturity securities, Less Than 12 Months, Unrecognized Losses | 88 | 109 | ||
Held-to-maturity securities, 12 Months or More, Fair Value | 144,439 | 175,474 | ||
Held-to-maturity securities, 12 Months or More, Unrecognized Losses | 11,513 | 14,252 | ||
Held-to-maturity securities, Total, Fair Value | 163,572 | 196,527 | ||
Held-to-maturity securities, Total, Unrecognized Losses | $11,601 | $14,361 | ||
[1] | Represents MBS issued by GinnieB Mae, which are guaranteed by the U.S. government. | |||
[2] | 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 $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ||
Held-to-maturity securities, Amortized Cost | $5,087,089 | $5,439,662 | ||
Held-to-maturity securities, Carrying Value | 5,074,263 | [1] | 5,423,659 | [1] |
Held-to-maturity securities, Fair Value | 5,085,070 | 5,415,205 | ||
Non-mortgage-backed Securities [Member] | ' | ' | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ||
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 | 18,625 | 21,240 | ||
Held-to-maturity securities, Due after 10 years, Amortized Cost | 111,716 | 42,232 | ||
Held-to-maturity securities, Amortized Cost | 130,341 | 63,472 | ||
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 | 18,625 | 21,240 | ||
Held-to-maturity securities, Due after 10 years, Carrying Value | 111,716 | 42,232 | ||
Held-to-maturity securities, Carrying Value | 130,341 | 63,472 | ||
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 | 18,436 | 19,582 | ||
Held-to-maturity securities, Due after 10 years, Fair Value | 105,462 | 35,290 | ||
Held-to-maturity securities, Fair Value | 123,898 | 54,872 | ||
Mortgage-Backed Securities [Member] | ' | ' | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ||
Held-to-maturity securities, Amortized Cost | 4,956,748 | 5,376,190 | ||
Held-to-maturity securities, Carrying Value | 4,943,922 | 5,360,187 | ||
Held-to-maturity securities, Fair Value | $4,961,172 | $5,360,333 | ||
[1] | Fair value:B $5,085,070 and $5,415,205 as of SeptemberB 30, 2014 and DecemberB 31, 2013, respectively. |
Investment_Securities_Summary_1
Investment Securities (Summary Of Held-To-Maturity Securities At Amortized Cost By Interest Rate Payment Terms) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | $5,087,089 | $5,439,662 |
Non-mortgage-backed Securities [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | 130,341 | 63,472 |
Non-mortgage-backed Securities [Member] | Fixed Income Interest Rate [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | 10,751 | 12,232 |
Non-mortgage-backed Securities [Member] | Variable Income Interest Rate [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | 119,590 | 51,240 |
Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | 4,956,748 | 5,376,190 |
Mortgage Passthrough Securities [Member] | Fixed Income Interest Rate [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | 34 | 78 |
Mortgage Passthrough Securities [Member] | Variable Income Interest Rate [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | 1,208,896 | 1,298,146 |
Collateralized Mortgage Obligations [Member] | Fixed Income Interest Rate [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | 454,322 | 541,126 |
Collateralized Mortgage Obligations [Member] | Variable Income Interest Rate [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held-to-maturity securities, Amortized Cost | $3,293,496 | $3,536,840 |
Investment_Securities_Summary_2
Investment Securities (Summary Of Net Gains (Losses) On Trading Securities) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Investments, Debt and Equity Securities [Abstract] | ' | ' | ' | ' |
Net unrealized gains (losses) on trading securities held as of current period end | ($11,414) | ($5,296) | ($21,812) | ($33,925) |
Net unrealized and realized gains (losses) on trading securities sold or matured prior to current period end | -5 | -1,472 | -619 | -3,762 |
NET GAINS (LOSS) ON TRADING SECURITIES | ($11,419) | ($6,768) | ($22,431) | ($37,687) |
Investment_Securities_Weighted
Investment Securities (Weighted Average Dollar Rates Of Mortgage-Backed Securities Investments) (Details) (Weighted Average [Member]) | 3 Months Ended |
Sep. 30, 2014 | |
Rate | |
Private-Label Mortgage-Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Significant Inputs, Prepayment Rate | 16.20% |
Significant Inputs, Default Rate | 10.30% |
Significant Inputs, Loss Severity | 34.40% |
Current Credit Enhancements | 6.60% |
Private-Label Mortgage-Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | Prime [Member] | Securitization In 2004 And Earlier [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Significant Inputs, Prepayment Rate | 16.10% |
Significant Inputs, Default Rate | 10.40% |
Significant Inputs, Loss Severity | 30.80% |
Current Credit Enhancements | 27.40% |
Private-Label Mortgage-Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | Alt-A [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Significant Inputs, Prepayment Rate | 16.20% |
Significant Inputs, Default Rate | 10.30% |
Significant Inputs, Loss Severity | 34.40% |
Current Credit Enhancements | 6.40% |
Private-Label Mortgage-Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | Alt-A [Member] | Securitization In 2004 And Earlier [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Significant Inputs, Prepayment Rate | 16.70% |
Significant Inputs, Default Rate | 12.20% |
Significant Inputs, Loss Severity | 34.30% |
Current Credit Enhancements | 11.30% |
Private-Label Mortgage-Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | Alt-A [Member] | Securitization In 2005 [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Significant Inputs, Prepayment Rate | 15.90% |
Significant Inputs, Default Rate | 9.50% |
Significant Inputs, Loss Severity | 34.40% |
Current Credit Enhancements | 4.10% |
Private-label Home Equity Loan ABS [Member] | Subprime [Member] | Securitization In 2004 And Earlier [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Significant Inputs, Prepayment Rate | 1.10% |
Significant Inputs, Default Rate | 7.80% |
Significant Inputs, Loss Severity | 84.90% |
Current Credit Enhancements | 15.80% |
Investment_Securities_Other_Th
Investment Securities (Other Than Temporary Impairment, Charges Recognized In Income) (Details) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | $77,694 |
Other Than Temporarily Impaired Securities, Amortized Cost | 69,209 |
Other Than Temporarily Impaired Securities, Carrying Value | 56,383 |
Other Than Temporarily Impaired Securities, Fair Value | 66,968 |
Private-Label Mortgage-Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 74,717 |
Other Than Temporarily Impaired Securities, Amortized Cost | 68,030 |
Other Than Temporarily Impaired Securities, Carrying Value | 55,275 |
Other Than Temporarily Impaired Securities, Fair Value | 64,415 |
Private-Label Mortgage-Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | Prime [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 14,092 |
Other Than Temporarily Impaired Securities, Amortized Cost | 13,221 |
Other Than Temporarily Impaired Securities, Carrying Value | 12,106 |
Other Than Temporarily Impaired Securities, Fair Value | 13,295 |
Private-Label Mortgage-Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | Alt-A [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 60,625 |
Other Than Temporarily Impaired Securities, Amortized Cost | 54,809 |
Other Than Temporarily Impaired Securities, Carrying Value | 43,169 |
Other Than Temporarily Impaired Securities, Fair Value | 51,120 |
Private-label Home Equity Loan ABS [Member] | Subprime [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 2,977 |
Other Than Temporarily Impaired Securities, Amortized Cost | 1,179 |
Other Than Temporarily Impaired Securities, Carrying Value | 1,108 |
Other Than Temporarily Impaired Securities, Fair Value | $2,553 |
Investment_Securities_RollForw
Investment Securities (Roll-Forward Of OTTI, Credit Losses Recognized In Earnings, OTTI And Other Factors Recognized In OCI) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ' | ' | ' | ' | ||||
Balance, beginning of period | $9,560 | $10,698 | $9,917 | $11,291 | ||||
Additional charge on securities for which OTTI was previously recognized | 20 | [1] | 300 | [1] | 443 | [1] | 452 | [1] |
Amortization of credit component of OTTI | -89 | [2] | -762 | [2] | -869 | [2] | -1,507 | [2] |
Balance, end of period | $9,491 | $10,236 | $9,491 | $10,236 | ||||
[1] | For the three months ended September 30, 2014 and 2013, securities previously impaired represent all securities that were impaired prior to July 1, 2014 and 2013, respectively. For the nine months ended September 30, 2014 and 2013, securities previously impaired represent all securities that were impaired prior to January 1, 2014 and 2013, 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 $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Federal Home Loan Bank, Advances [Line Items] | ' | ' |
Federal Home Loan Bank, Advances, Par Value | $20,412,035 | $17,193,619 |
Federal Home Loan Bank, Advances, Floating Rate | 11,905,539 | 8,536,505 |
Minimum [Member] | ' | ' |
Federal Home Loan Bank, Advances [Line Items] | ' | ' |
FHLB advances, outstanding interest rate | 0.12% | 0.11% |
Maximum [Member] | ' | ' |
Federal Home Loan Bank, Advances [Line Items] | ' | ' |
FHLB advances, outstanding interest rate | 8.01% | 8.01% |
Advances, Callable Option [Member] | ' | ' |
Federal Home Loan Bank, Advances [Line Items] | ' | ' |
Federal Home Loan Bank, Advances, Par Value | 4,592,551 | 5,056,133 |
Federal Home Loan Bank, Advances, Floating Rate | 4,463,796 | 4,932,869 |
Advances, Convertible Option [Member] | ' | ' |
Federal Home Loan Bank, Advances [Line Items] | ' | ' |
Federal Home Loan Bank, Advances, Par Value | $1,656,242 | $1,685,242 |
Advances_Schedule_Of_Federal_H
Advances (Schedule Of Federal Home Loan Bank Advances By Year Of Contractual Maturity) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Rate | Rate |
Year of Contractual Maturity, Amount: | ' | ' |
Due in one year or less, Amount | $9,502,514 | $5,431,364 |
Due after one year through two years, Amount | 1,455,970 | 1,643,200 |
Due after two years through three years, Amount | 1,692,486 | 1,650,222 |
Due after three years through four years, Amount | 1,900,952 | 2,353,661 |
Due after four years through five years, Amount | 1,071,416 | 1,302,199 |
Thereafter, Amount | 4,788,697 | 4,812,973 |
TOTAL PAR VALUE | 20,412,035 | 17,193,619 |
Discounts | -27,989 | -36,782 |
Hedging adjustments | 190,554 | 268,650 |
TOTAL | $20,574,600 | $17,425,487 |
Year of Contractual Maturity, Weighted Average Interest Rate: | ' | ' |
Due in one year or less, Weighted Average Interest Rate | 0.57% | 0.77% |
Due after one year through two years, Weighted Average Interest Rate | 2.14% | 1.77% |
Due after two years through three years, Weighted Average Interest Rate | 2.59% | 1.98% |
Due after three years through four years, Weighted Average Interest Rate | 2.55% | 2.59% |
Due after four years through five years, Weighted Average Interest Rate | 1.39% | 2.42% |
Thereafter, Weighted Average Interest Rate | 1.23% | 1.09% |
Total par value, Weighted Average Interest Rate | 1.23% | 1.45% |
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 $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Redemption Term, Year of Contractual Maturity or Next Call Date: | ' | ' |
Due in one year or less, maturity or next call | $13,766,143 | $10,172,524 |
Due after one year through two years, maturity or next call | 1,256,402 | 1,392,527 |
Due after two years through three years, maturity or next call | 1,498,853 | 1,175,623 |
Due after three years through four years, maturity or next call | 1,533,311 | 1,856,012 |
Due after four years through five years, maturity or next call | 672,595 | 1,062,253 |
Thereafter, maturity or next call | 1,684,731 | 1,534,680 |
TOTAL PAR VALUE | 20,412,035 | 17,193,619 |
Redemption Term, Year of Contractual Maturity or Next Conversion Date: | ' | ' |
Due in one year or less, maturity or next convert | 11,037,156 | 7,038,106 |
Due after one year through two years, maturity or next convert | 1,325,720 | 1,555,100 |
Due after two years through three years, maturity or next convert | 1,266,886 | 1,528,722 |
Due after three years through four years, maturity or next convert | 1,051,660 | 1,381,719 |
Due after four years through five years, maturity or next convert | 1,058,416 | 979,999 |
Thereafter, maturity or next convert | 4,672,197 | 4,709,973 |
TOTAL PAR VALUE | $20,412,035 | $17,193,619 |
Advances_Schedule_Of_Federal_H2
Advances (Schedule Of Federal Home Loan Bank Advances By Interest Rate Payment Terms) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fixed rate: | ' | ' |
Due in one year or less, Fixed Rate | $1,885,334 | $1,733,559 |
Due after one year, Fixed Rate | 6,621,162 | 6,923,555 |
Total fixed rate | 8,506,496 | 8,657,114 |
Variable rate: | ' | ' |
Due in one year or less, Variable Rate | 7,617,180 | 3,697,805 |
Due after one year, Variable Rate | 4,288,359 | 4,838,700 |
Total variable rate | 11,905,539 | 8,536,505 |
TOTAL PAR VALUE | $20,412,035 | $17,193,619 |
Mortgage_Loans_Schedule_Of_Mor
Mortgage Loans (Schedule Of Mortgage Loans Held For Portfolio) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Mortgage Loans on Real Estate [Line Items] | ' | ' | ||
Total unpaid principal balance | $6,064,792 | $5,856,640 | ||
Premiums | 99,213 | 95,755 | ||
Discounts | -3,180 | -3,659 | ||
Deferred loan costs, net | 879 | 1,087 | ||
Other deferred fees | -175 | -212 | ||
Hedging adjustments | 7,884 | 6,617 | ||
Total before Allowance for Credit Losses on Mortgage Loans | 6,169,413 | 5,956,228 | ||
Allowance for Credit Losses on Mortgage Loans | -4,591 | -6,748 | ||
Mortgage loans held for portfolio, net | 6,164,822 | 5,949,480 | ||
Loans Receivable With Fixed Rates Of Interest Medium Term [Member] | ' | ' | ||
Mortgage Loans on Real Estate [Line Items] | ' | ' | ||
Total unpaid principal balance | 1,547,993 | [1] | 1,611,289 | [1] |
Loans Receivable With Fixed Rates Of Interest Long Term [Member] | ' | ' | ||
Mortgage Loans on Real Estate [Line Items] | ' | ' | ||
Total unpaid principal balance | $4,516,799 | $4,245,351 | ||
[1] | 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 $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total unpaid principal balance | $6,064,792 | $5,856,640 |
Conventional Loans [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total unpaid principal balance | 5,426,691 | 5,212,048 |
Government-Guaranteed Or Insured Loans [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total unpaid principal balance | $638,101 | $644,592 |
Allowance_For_Credit_Losses_Na
Allowance For Credit Losses (Narrative) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Loans and Leases Receivable, Allowance [Abstract] | ' | ' |
Real estate owned | $4,622 | $4,307 |
Allowance_For_Credit_Losses_Al
Allowance For Credit Losses (Allowance For Credit Losses On Financing Receivables) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ||||
Balance, beginning of period | $4,658 | $6,590 | $6,748 | $5,416 | ||||
Charge-offs | -149 | -229 | -425 | -586 | ||||
Provision (reversal) for credit losses | 82 | 530 | -1,732 | 2,061 | ||||
Balance, end of period | 4,591 | 6,891 | 4,591 | 6,891 | ||||
Individually evaluated for impairment, Allowance for credit losses | 0 | 0 | 0 | 0 | ||||
Collectively evaluated for impairment, Allowance for credit losses | 4,591 | 6,891 | 4,591 | 6,891 | ||||
Individually evaluated for impairment, Recorded investment | 20,617,407 | [1],[2] | 18,850,574 | [1],[2] | 20,617,407 | [1],[2] | 18,850,574 | [1],[2] |
Collectively evaluated for impairment, Recorded investment | 6,199,487 | [1] | 5,947,824 | [1] | 6,199,487 | [1] | 5,947,824 | [1] |
Conventional Loans [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ||||
Balance, beginning of period | 4,658 | 6,590 | 6,748 | 5,416 | ||||
Charge-offs | -149 | -229 | -425 | -586 | ||||
Provision (reversal) for credit losses | 82 | 530 | -1,732 | 2,061 | ||||
Balance, end of period | 4,591 | 6,891 | 4,591 | 6,891 | ||||
Individually evaluated for impairment, Allowance for credit losses | 0 | 0 | 0 | 0 | ||||
Collectively evaluated for impairment, Allowance for credit losses | 4,591 | 6,891 | 4,591 | 6,891 | ||||
Individually evaluated for impairment, Recorded investment | 0 | [1],[2] | 0 | [1],[2] | 0 | [1],[2] | 0 | [1],[2] |
Collectively evaluated for impairment, Recorded investment | 5,543,946 | [1] | 5,280,393 | [1] | 5,543,946 | [1] | 5,280,393 | [1] |
Government-Guaranteed Or Insured Loans [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ||||
Balance, beginning of period | 0 | 0 | 0 | 0 | ||||
Charge-offs | 0 | 0 | 0 | 0 | ||||
Provision (reversal) for credit losses | 0 | 0 | 0 | 0 | ||||
Balance, end of period | 0 | 0 | 0 | 0 | ||||
Individually evaluated for impairment, Allowance for credit losses | 0 | 0 | 0 | 0 | ||||
Collectively evaluated for impairment, Allowance for credit losses | 0 | 0 | 0 | 0 | ||||
Individually evaluated for impairment, Recorded investment | 0 | [1],[2] | 0 | [1],[2] | 0 | [1],[2] | 0 | [1],[2] |
Collectively evaluated for impairment, Recorded investment | 655,541 | [1] | 667,431 | [1] | 655,541 | [1] | 667,431 | [1] |
Credit Products [Member] | ' | ' | ' | ' | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ||||
Balance, beginning of period | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [3] |
Charge-offs | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [3] |
Provision (reversal) for credit losses | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [3] |
Balance, end of period | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [3] |
Individually evaluated for impairment, Allowance for credit losses | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [3] |
Collectively evaluated for impairment, Allowance for credit losses | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [3] |
Individually evaluated for impairment, Recorded investment | 20,595,448 | [1],[2],[3] | 18,826,525 | [1],[2],[3] | 20,595,448 | [1],[2],[3] | 18,826,525 | [1],[2],[3] |
Collectively evaluated for impairment, Recorded investment | 0 | [1],[3] | 0 | [1],[3] | 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 | 0 | 0 | ||||
Charge-offs | 0 | 0 | 0 | 0 | ||||
Provision (reversal) for credit losses | 0 | 0 | 0 | 0 | ||||
Balance, end of period | 0 | 0 | 0 | 0 | ||||
Individually evaluated for impairment, Allowance for credit losses | 0 | 0 | 0 | 0 | ||||
Collectively evaluated for impairment, Allowance for credit losses | 0 | 0 | 0 | 0 | ||||
Individually evaluated for impairment, Recorded investment | 21,959 | [1],[2] | 24,049 | [1],[2] | 21,959 | [1],[2] | 24,049 | [1],[2] |
Collectively evaluated for impairment, Recorded investment | $0 | [1] | $0 | [1] | $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 $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | Rate | Rate | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Past due 30-59 days delinquent | $50,961 | [1] | $53,258 | [1] |
Past due 60-89 days delinquent | 12,279 | [1] | 13,545 | [1] |
Past due 90 days or more delinquent | 20,854 | [1] | 26,760 | [1] |
Total past due | 84,094 | [1] | 93,563 | [1] |
Total current loans | 26,732,800 | [1] | 23,361,839 | [1] |
Total recorded investment | 26,816,894 | [1] | 23,455,402 | [1] |
In process of foreclosure, included above | 8,669 | [2] | 10,633 | [2] |
Serious delinquency rate | 0.10% | [3] | 0.10% | [3] |
Past due 90 days or more still accruing interest | 5,968 | 8,720 | ||
Loans on non-accrual status | 18,843 | [4] | 21,294 | [5] |
Troubled debt restructurings included in non-accrual loans | 1,580 | 1,515 | ||
Conventional Loans [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Past due 30-59 days delinquent | 30,679 | [1] | 31,653 | [1] |
Past due 60-89 days delinquent | 6,992 | [1] | 7,873 | [1] |
Past due 90 days or more delinquent | 14,886 | [1] | 18,040 | [1] |
Total past due | 52,557 | [1] | 57,566 | [1] |
Total current loans | 5,491,389 | [1] | 5,265,483 | [1] |
Total recorded investment | 5,543,946 | [1] | 5,323,049 | [1] |
In process of foreclosure, included above | 5,964 | [2] | 7,665 | [2] |
Serious delinquency rate | 0.30% | [3] | 0.40% | [3] |
Past due 90 days or more still accruing interest | 0 | 0 | ||
Loans on non-accrual status | 18,843 | [4] | 21,294 | [5] |
Government-Guaranteed Or Insured Loans [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Past due 30-59 days delinquent | 20,282 | [1] | 21,605 | [1] |
Past due 60-89 days delinquent | 5,287 | [1] | 5,672 | [1] |
Past due 90 days or more delinquent | 5,968 | [1] | 8,720 | [1] |
Total past due | 31,537 | [1] | 35,997 | [1] |
Total current loans | 624,004 | [1] | 626,379 | [1] |
Total recorded investment | 655,541 | [1] | 662,376 | [1] |
In process of foreclosure, included above | 2,705 | [2] | 2,968 | [2] |
Serious delinquency rate | 0.90% | [3] | 1.30% | [3] |
Past due 90 days or more still accruing interest | 5,968 | 8,720 | ||
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 | 20,595,448 | [1],[6] | 17,446,437 | [1],[6] |
Total recorded investment | 20,595,448 | [1],[6] | 17,446,437 | [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 | 21,959 | [1] | 23,540 | [1] |
Total recorded investment | 21,959 | [1] | 23,540 | [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 $1,580,000 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 $1,515,000 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. | |||
[6] | The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. |
Derivatives_And_Hedging_Activi2
Derivatives And Hedging Activities (Narrative) (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Counterparty One [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Maximum credit risk applicable to a single counterparty | $29,039 | $21,045 |
Bilateral derivatives [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative instruments with credit-risk-related contingent features, aggregate fair value | 92,446 | 308,776 |
Derivative instruments with credit-risk-related contingent features, collateral already posted | 41,323 | 200,815 |
Derivative instruments with credit-risk-related contingent features, collateral to be posted if credit rating is lowered one level | $35,000 | $77,830 |
Derivatives_And_Hedging_Activi3
Derivatives And Hedging Activities (Outstanding Notional Balances And Fair Values Of Derivatives Outstanding By Type Of Derivative And By Hedge Of Designation) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative, Notional Amount | $18,225,470 | $18,917,471 | ||
Total, Derivative Assets | 119,942 | 172,806 | ||
Total, Derivative Liabilities | 299,662 | 470,329 | ||
Netting adjustments, Derivative Assets | -179,800 | [1] | -161,161 | [1] |
Cash collateral, Derivative Assets | 85,956 | [2] | 16,312 | [2] |
Derivative assets | 26,098 | 27,957 | ||
Netting adjustments, Derivative Liabilities | -179,800 | [1] | -161,161 | [1] |
Cash collateral, Derivative Liability | -68,445 | [2] | -200,815 | [2] |
Derivative liabilities | 51,417 | 108,353 | ||
Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative, Notional Amount | 11,338,152 | 10,532,231 | ||
Total, Derivative Assets | 101,356 | 127,059 | ||
Total, Derivative Liabilities | 218,093 | 349,771 | ||
Not Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative, Notional Amount | 6,887,318 | 8,385,240 | ||
Total, Derivative Assets | 18,586 | 45,747 | ||
Total, Derivative Liabilities | 81,569 | 120,558 | ||
Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative, Notional Amount | 11,091,152 | 10,285,231 | ||
Total, Derivative Assets | 101,356 | 127,059 | ||
Total, Derivative Liabilities | 216,727 | 347,123 | ||
Interest Rate Swaps [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative, Notional Amount | 2,616,820 | 3,691,820 | ||
Total, Derivative Assets | 1,305 | 4,260 | ||
Total, Derivative Liabilities | 81,466 | 120,166 | ||
Interest Rate Caps And Floors [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative, Notional Amount | 247,000 | 247,000 | ||
Total, Derivative Assets | 0 | 0 | ||
Total, Derivative Liabilities | 1,366 | 2,648 | ||
Interest Rate Caps And Floors [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative, Notional Amount | 4,205,800 | 4,627,800 | ||
Total, Derivative Assets | 17,196 | 41,463 | ||
Total, Derivative Liabilities | 50 | 103 | ||
Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | Mortgages [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative, Notional Amount | 64,698 | 65,620 | ||
Total, Derivative Assets | 85 | 24 | ||
Total, Derivative Liabilities | $53 | $289 | ||
[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_Activi4
Derivatives And Hedging Activities (Net Gains Or Losses On Derivatives And Hedging Activities) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Net gain (loss) related to fair value hedge ineffectiveness | $141 | $856 | ($708) | ($4,441) |
Net gain (loss) related to derivatives not designated as hedging instruments | -2,359 | -6,448 | -25,843 | 7,316 |
Net gains (losses) on derivatives and hedging activities | -2,218 | -5,592 | -26,551 | 2,875 |
Interest Rate Swaps [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Net gain (loss) related to fair value hedge ineffectiveness | 141 | 856 | -708 | -4,441 |
Net gain (loss) related to derivatives not designated as hedging instruments | 11,469 | 5,524 | 26,332 | 31,116 |
Interest Rate Caps And Floors [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Net gain (loss) related to derivatives not designated as hedging instruments | -4,089 | -3,908 | -25,569 | 7,514 |
Net Interest Settlements [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Net gain (loss) related to derivatives not designated as hedging instruments | -9,799 | -9,966 | -29,585 | -28,352 |
Forward Contracts [Member] | Mortgages [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Net gain (loss) related to derivatives not designated as hedging instruments | 60 | 1,903 | 2,979 | -2,945 |
Intermediary Transactions Interest Rate Swaps [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Net gain (loss) related to derivatives not designated as hedging instruments | $0 | ($1) | $0 | ($17) |
Derivatives_And_Hedging_Activi5
Derivatives And Hedging Activities (Net Gains Or Losses On Derivatives And Other Hedge Items And Impact Of These To Net Interest Income) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) on Derivatives | $25,556 | $4,651 | $100,995 | $22,995 | ||||
Gain (Loss) on Hedged Items | -25,415 | -3,795 | -101,703 | -27,436 | ||||
Net Fair Value Hedge Ineffectiveness | 141 | 856 | -708 | -4,441 | ||||
Effect of Derivatives on Net Interest Income | -12,196 | [1] | -10,651 | [1] | -37,496 | [1] | -38,691 | [1] |
Advances [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) on Derivatives | 47,481 | 10,788 | 68,762 | 145,881 | ||||
Gain (Loss) on Hedged Items | -46,986 | -10,509 | -67,956 | -143,497 | ||||
Net Fair Value Hedge Ineffectiveness | 495 | 279 | 806 | 2,384 | ||||
Effect of Derivatives on Net Interest Income | -35,539 | [1] | -38,948 | [1] | -106,619 | [1] | -119,789 | [1] |
Consolidated Obligations, Bonds [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) on Derivatives | -21,925 | -6,137 | 32,233 | -122,886 | ||||
Gain (Loss) on Hedged Items | 21,571 | 6,714 | -33,747 | 116,061 | ||||
Net Fair Value Hedge Ineffectiveness | -354 | 577 | -1,514 | -6,825 | ||||
Effect of Derivatives on Net Interest Income | $23,343 | [1] | $28,297 | [1] | $69,123 | [1] | $81,098 | [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_Types_Of_Deposits_Det
Deposits (Types Of Deposits) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deposits [Abstract] | ' | ' |
Interest-bearing, Demand | $208,032 | $214,645 |
Interest-bearing, Overnight | 377,900 | 686,100 |
Interest-bearing, Term | 53,500 | 23,800 |
Total interest-bearing | 639,432 | 924,545 |
Non-interest-bearing, Demand | 37,637 | 37,343 |
Total non-interest-bearing | 37,637 | 37,343 |
TOTAL DEPOSITS | $677,069 | $961,888 |
Consolidated_Obligations_Narra
Consolidated Obligations (Narrative) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Federal Home Loan Bank, Consolidated Obligations [Abstract] | ' | ' |
Callable bonds | $9,436,000 | $8,302,000 |
Consolidated_Obligations_Sched
Consolidated Obligations (Schedule Of Maturities Of Consolidated Obligations) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Rate | Rate |
Federal Home Loan Bank, Consolidated Obligations [Abstract] | ' | ' |
Due in one year or less | $5,289,500 | $6,177,700 |
Due after one year through two years | 3,611,250 | 3,182,300 |
Due after two years through three years | 1,561,000 | 1,635,750 |
Due after three years through four years | 1,451,375 | 1,397,935 |
Due after four years through five years | 1,774,250 | 1,333,940 |
Thereafter | 6,294,150 | 6,312,600 |
Total par value | 19,981,525 | 20,040,225 |
Premium | 29,936 | 36,613 |
Discounts | -4,254 | -4,605 |
Hedging adjustments | 18,265 | -15,269 |
TOTAL | $20,025,472 | $20,056,964 |
Due in one year or less, Weighted Average Interest Rate | 0.49% | 0.74% |
Due after one year through two years, Weighted Average Interest Rate | 0.96% | 0.69% |
Due after two years through three years, Weighted Average Interest Rate | 1.65% | 1.70% |
Due after three years through four years, Weighted Average Interest Rate | 2.24% | 2.56% |
Due after four years through five years, Weighted Average Interest Rate | 1.46% | 1.79% |
Thereafter, Weighted Average Interest Rate | 2.34% | 2.28% |
Total par value, Weighted Average Interest Rate | 1.46% | 1.49% |
Consolidated_Obligations_Sched1
Consolidated Obligations (Schedule Of Consolidated Obligations, By Maturity Or Next Call Date) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Federal Home Loan Bank, Consolidated Obligations [Abstract] | ' | ' |
Due in one year or less | $14,555,500 | $14,189,700 |
Due after one year through two years | 3,296,250 | 3,248,300 |
Due after two years through three years | 957,000 | 1,126,750 |
Due after three years through four years | 639,375 | 761,935 |
Due after four years through five years | 176,250 | 378,940 |
Thereafter | 357,150 | 334,600 |
Total par value | $19,981,525 | $20,040,225 |
Consolidated_Obligations_Sched2
Consolidated Obligations (Schedule Of Consolidated Obligations, By Interest Rate Terms) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Total par value | $19,981,525 | $20,040,225 |
Fixed Rate [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total par value | 11,681,525 | 11,705,225 |
Simple variable rate [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total par value | 5,355,000 | 5,895,000 |
Step up/step down [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total par value | 2,720,000 | 2,220,000 |
Range Bonds [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total par value | 120,000 | 90,000 |
Variable to fixed rate [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total par value | 80,000 | 45,000 |
Fixed to variable rate [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total par value | $25,000 | $85,000 |
Consolidated_Obligations_Sched3
Consolidated Obligations (Schedule Of Consolidated Obligations, Current Portion) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | Rate | Rate | ||
Federal Home Loan Bank, Consolidated Obligations [Abstract] | ' | ' | ||
Book Value | $15,947,588 | $10,889,565 | ||
Par Value | $15,949,485 | $10,890,528 | ||
Weighted Average Interest Rate | 0.07% | [1] | 0.08% | [1] |
[1] | Represents yield to maturity excluding concession fees. |
Affordable_Housing_Program_Nar
Affordable Housing Program (Narrative) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Rate | |
Affordable Housing Program [Abstract] | ' |
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_Sch
Affordable Housing Program (Schedule Of Change In AHP Liability) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Affordable Housing Program [Roll Forward] | ' | ' | ' | ' | ||||
Appropriated and reserved AHP funds as of the beginning of the period | $34,937 | $32,501 | $35,264 | $31,198 | ||||
AHP set aside based on current year income | 3,181 | 3,176 | 8,833 | 9,120 | ||||
Direct grants disbursed | -6,227 | -2,547 | -12,372 | -7,298 | ||||
Recaptured funds1 | 53 | [1] | 99 | [1] | 219 | [1] | 209 | [1] |
Appropriated and reserved AHP funds as of the end of the period | $31,944 | $33,229 | $31,944 | $33,229 | ||||
[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. |
Assets_and_Liabilities_Subject2
Assets and Liabilities Subject to Offsetting Assets Subject to Offsetting (Schedule of Offsetting Assets) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Offsetting Assets [Line Items] | ' | ' | ||
Derivative Assets, Gross Amounts of Recognized Assets | $119,942 | $172,806 | ||
Derivative assets, Gross Amounts Offset in the Statement of Condition | -93,844 | -144,849 | ||
Derivative assets | 26,098 | 27,957 | ||
Derivative assets, Gross Amounts Not Offset in the Statement of Condition | -85 | [1] | -24 | [1] |
Derivative Assets, Net Amount | 26,013 | 27,933 | ||
Securities purchased under agreements to resell, Gross Amounts of Recognized Assets | 1,075,000 | ' | ||
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 | 1,075,000 | 0 | ||
Securities purchased under agreements to resell, Gross Amounts Not Offset in the Statement of Condition | -1,075,000 | [1] | ' | |
Securities purchased under agreements to resell, Net Amount | 0 | ' | ||
TOTAL, Gross Amounts of Recognized Assets | 1,194,942 | 172,806 | ||
TOTAL, Gross Amounts Offset in the Statement of Condition | -93,844 | -144,849 | ||
TOTAL, Net Amounts of Assets Presented in the Statement of Condition | 1,101,098 | 27,957 | ||
TOTAL, Gross Amounts Not Offest in the Statement of Condition | -1,075,085 | [1] | -24 | [1] |
TOTAL, Net Amount | 26,013 | 27,933 | ||
Bilateral derivatives [Member] | ' | ' | ||
Offsetting Assets [Line Items] | ' | ' | ||
Derivative Assets, Gross Amounts of Recognized Assets | 117,701 | 165,894 | ||
Derivative assets, Gross Amounts Offset in the Statement of Condition | -108,573 | -150,968 | ||
Derivative assets | 9,128 | 14,926 | ||
Derivative assets, Gross Amounts Not Offset in the Statement of Condition | -85 | [1] | -24 | [1] |
Derivative Assets, Net Amount | 9,043 | 14,902 | ||
Cleared derivatives [Member] | ' | ' | ||
Offsetting Assets [Line Items] | ' | ' | ||
Derivative Assets, Gross Amounts of Recognized Assets | 2,241 | 6,912 | ||
Derivative assets, Gross Amounts Offset in the Statement of Condition | 14,729 | 6,119 | ||
Derivative assets | 16,970 | 13,031 | ||
Derivative assets, Gross Amounts Not Offset in the Statement of Condition | 0 | [1] | 0 | [1] |
Derivative Assets, Net Amount | $16,970 | $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). |
Assets_and_Liabilities_Subject3
Assets and Liabilities Subject to Offsetting Liabilities Subject to Offsetting (Schedule of Offsetting Liabilities) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Offsetting Liabilities [Line Items] | ' | ' | ||
Derivative liabilities, Gross Amounts of Recognized Liabilities | $299,662 | $470,329 | ||
Derivative liabilities, Gross Amounts Offset in the Statement of Condition | -248,245 | -361,976 | ||
Derivative liabilities | 51,417 | 108,353 | ||
Derivative liabilities, Gross Amounts Not Offset in the Statement of Condition | -103 | [1] | -392 | [1] |
Derivative liabilities, Net Amount | 51,314 | 107,961 | ||
TOTAL, Gross Amounts of Recognized Liabilities | 299,662 | 470,329 | ||
TOTAL, Gross Amounts Offset in the Statement of Condition | -248,245 | -361,976 | ||
TOTAL, Net Amounts of Liabilities Presented in the Statement of Condition | 51,417 | 108,353 | ||
TOTAL, Gross Amounts Not Offset in the Statement of Condition | -103 | [1] | -392 | [1] |
TOTAL, Net Amount | 51,314 | 107,961 | ||
Bilateral derivatives [Member] | ' | ' | ||
Offsetting Liabilities [Line Items] | ' | ' | ||
Derivative liabilities, Gross Amounts of Recognized Liabilities | 285,371 | 470,290 | ||
Derivative liabilities, Gross Amounts Offset in the Statement of Condition | -233,954 | -361,937 | ||
Derivative liabilities | 51,417 | 108,353 | ||
Derivative liabilities, Gross Amounts Not Offset in the Statement of Condition | -103 | [1] | -392 | [1] |
Derivative liabilities, Net Amount | 51,314 | 107,961 | ||
Cleared derivatives [Member] | ' | ' | ||
Offsetting Liabilities [Line Items] | ' | ' | ||
Derivative liabilities, Gross Amounts of Recognized Liabilities | 14,291 | 39 | ||
Derivative liabilities, Gross Amounts Offset in the Statement of Condition | -14,291 | -39 | ||
Derivative liabilities | 0 | 0 | ||
Derivative liabilities, Gross Amounts Not Offset in the Statement of Condition | 0 | [1] | 0 | [1] |
Derivative liabilities, Net Amount | $0 | $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 $) | 9 Months Ended | |
Sep. 30, 2014 | Dec. 31, 2013 | |
Rate | Rate | |
Compliance with Regulatory Capital Requirements under Banking Regulations [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 | ' |
Leverage capital, non-permanent capital weight | 1 | ' |
Capital Stock Class A [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Common Stock, Par or Stated Value Per Share | 100 | 100 |
Minimum period after which redemption is required | '6 months | ' |
Capital Stock Class B [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Common Stock, Par or Stated Value Per Share | 100 | 100 |
Minimum period after which redemption is required | '5 years | ' |
Maximum [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Regulatory stock dividend payment restriction threshold | 1.00% | ' |
Capital_Schedule_Of_Compliance
Capital (Schedule Of Compliance With Regulatory Capital Requirements) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Rate | Rate |
Capital [Abstract] | ' | ' |
Risk-based capital, Required | $376,228 | $414,914 |
Risk-based capital, Actual | 1,554,019 | 1,389,646 |
Total regulatory capital-to-asset ratio, Required | 4.00% | 4.00% |
Total regulatory capital-to-asset ratio, Actual | 4.40% | 5.40% |
Total regulatory capital, Required | 1,541,122 | 1,358,012 |
Total regulatory capital, Actual | 1,709,826 | 1,824,345 |
Leverage capital ratio, Required | 5.00% | 5.00% |
Leverage capital ratio, Actual | 6.50% | 7.40% |
Leverage capital, Required | 1,926,402 | 1,697,515 |
Leverage capital, Actual | $2,486,835 | $2,519,168 |
Capital_Schedule_Of_Mandatoril
Capital (Schedule Of Mandatorily Redeemable Capital Stock) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Capital [Abstract] | ' | ' | ' | ' |
Balance as at beginning of period | $4,519 | $5,410 | $4,764 | $5,665 |
Capital stock subject to mandatory redemption reclassified from equity during the period | 58,794 | 99,455 | 228,102 | 207,150 |
Redemption or repurchase of mandatorily redeemable capital stock during the period | -58,954 | -99,687 | -228,522 | -207,649 |
Stock dividend classified as mandatorily redeemable capital stock during the period | 12 | 6 | 27 | 18 |
Balance at end of period | $4,371 | $5,184 | $4,371 | $5,184 |
Capital_Schedule_Of_Amount_Of_
Capital (Schedule Of Amount Of Mandatorily Redeemable Capital Stock By Contractual Year Of Redemption) (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||||||
Capital [Abstract] | ' | ' | ' | ' | ' | ' | ||
Year 1 | $0 | ' | $166 | ' | ' | ' | ||
Year 2 | 53 | ' | 52 | ' | ' | ' | ||
Year 3 | 1 | ' | 0 | ' | ' | ' | ||
Year 4 | 24 | ' | 0 | ' | ' | ' | ||
Year 5 | 0 | ' | 74 | ' | ' | ' | ||
Past contractual redemption date due to remaining activity | 4,293 | [1] | ' | 4,472 | [1] | ' | ' | ' |
Mandatorily redeemable capital stock, TOTAL | $4,371 | $4,519 | $4,764 | $5,184 | $5,410 | $5,665 | ||
[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 $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward] | ' | ' | ' | ' | ||||
Accumulated Other Comprehensive Income (Loss), Balance at beginning of the period | ($16,117) | ($22,189) | ($18,361) | ($25,257) | ||||
Non-credit OTTI losses | 0 | -5 | 0 | -19 | ||||
Accretion of non-credit loss | 1,002 | 738 | 2,734 | 3,467 | ||||
Reclassification from other comprehensive income (loss) to net income, Non-credit OTTI to credit OTTI | 20 | [1] | 300 | [1] | 443 | [1] | 452 | [1] |
Amortization of net loss - defined benefit pension | 38 | [2] | 101 | [2] | 127 | [2] | 302 | [2] |
Net current period other comprehensive income (loss) | 1,060 | 1,134 | 3,304 | 4,202 | ||||
Accumulated Other Comprehensive Income (Loss), Balance at end of the period | -15,057 | -21,055 | -15,057 | -21,055 | ||||
Net Non-credit Portion of OTTI Losses on Held-to-maturity Securities | ' | ' | ' | ' | ||||
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward] | ' | ' | ' | ' | ||||
Accumulated Other Comprehensive Income (Loss), Balance at beginning of the period | -13,848 | -17,979 | -16,003 | -20,846 | ||||
Non-credit OTTI losses | ' | -5 | ' | -19 | ||||
Accretion of non-credit loss | 1,002 | 738 | 2,734 | 3,467 | ||||
Reclassification from other comprehensive income (loss) to net income, Non-credit OTTI to credit OTTI | 20 | [1] | 300 | [1] | 443 | [1] | 452 | [1] |
Net current period other comprehensive income (loss) | 1,022 | 1,033 | 3,177 | 3,900 | ||||
Accumulated Other Comprehensive Income (Loss), Balance at end of the period | -12,826 | -16,946 | -12,826 | -16,946 | ||||
Defined Benefit Pension Plan [Member] | ' | ' | ' | ' | ||||
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward] | ' | ' | ' | ' | ||||
Accumulated Other Comprehensive Income (Loss), Balance at beginning of the period | -2,269 | -4,210 | -2,358 | -4,411 | ||||
Amortization of net loss - defined benefit pension | 38 | [2] | 101 | [2] | 127 | [2] | 302 | [2] |
Net current period other comprehensive income (loss) | 38 | 101 | 127 | 302 | ||||
Accumulated Other Comprehensive Income (Loss), Balance at end of the period | ($2,231) | ($4,109) | ($2,231) | ($4,109) | ||||
[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). |
Fair_Values_Fair_Value_By_Bala
Fair Values (Fair Value, By Balance Sheet Grouping) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Assets: | ' | ' | ||
Trading securities | $1,476,212 | $2,704,777 | ||
Held-to-maturity securities, Carrying Value | 5,074,263 | [1] | 5,423,659 | [1] |
Held-to-maturity securities | 5,085,070 | 5,415,205 | ||
Derivative assets | 26,098 | 27,957 | ||
Derivative Asset, Netting Adjustment and Cash Collateral | -93,844 | -144,849 | ||
Liabilities: | ' | ' | ||
Derivative liabilities | 51,417 | 108,353 | ||
Derivative Liability, Netting Adjustment and Cash Collateral | -248,245 | -361,976 | ||
Carrying Value [Member] | ' | ' | ||
Assets: | ' | ' | ||
Cash and due from banks | 2,571,350 | 1,713,940 | ||
Interest-bearing deposits | 146 | 1,116 | ||
Securities purchased under agreements to resell | 1,075,000 | ' | ||
Federal funds sold | 1,450,000 | 575,000 | ||
Trading securities | 1,476,212 | 2,704,777 | ||
Held-to-maturity securities, Carrying Value | 5,074,263 | 5,423,659 | ||
Advances | 20,574,600 | 17,425,487 | ||
Mortgage loans held for portfolio, net of allowance | 6,164,822 | 5,949,480 | ||
Accrued interest receivable | 63,232 | 72,526 | ||
Derivative assets | 26,098 | 27,957 | ||
Liabilities: | ' | ' | ||
Deposits | 677,069 | 961,888 | ||
Consolidated obligation discount notes | 15,947,588 | 10,889,565 | ||
Consolidated obligation bonds | 20,025,472 | 20,056,964 | ||
Mandatorily redeemable capital stock | 4,371 | 4,764 | ||
Accrued interest payable | 71,757 | 62,447 | ||
Derivative liabilities | 51,417 | 108,353 | ||
Other Asset (Liability): | ' | ' | ||
Standby letters of credit | -777 | -996 | ||
Standby bond purchase agreements | 276 | 208 | ||
Standby credit facility | ' | -45 | ||
Advance commitments | 0 | 0 | ||
Fair Value [Member] | ' | ' | ||
Assets: | ' | ' | ||
Cash and due from banks | 2,571,350 | 1,713,940 | ||
Interest-bearing deposits | 146 | 1,116 | ||
Securities purchased under agreements to resell | 1,075,000 | ' | ||
Federal funds sold | 1,450,000 | 575,000 | ||
Trading securities | 1,476,212 | 2,704,777 | ||
Held-to-maturity securities | 5,085,070 | 5,415,205 | ||
Advances | 20,635,315 | 17,461,489 | ||
Mortgage loans held for portfolio, net of allowance | 6,331,505 | 5,991,371 | ||
Accrued interest receivable | 63,232 | 72,526 | ||
Derivative assets | 26,098 | 27,957 | ||
Liabilities: | ' | ' | ||
Deposits | 677,069 | 961,888 | ||
Consolidated obligation discount notes | 15,947,112 | 10,889,682 | ||
Consolidated obligation bonds | 19,975,760 | 19,808,605 | ||
Mandatorily redeemable capital stock | 4,371 | 4,764 | ||
Accrued interest payable | 71,757 | 62,447 | ||
Derivative liabilities | 51,417 | 108,353 | ||
Other Asset (Liability): | ' | ' | ||
Standby letters of credit | -777 | -996 | ||
Standby bond purchase agreements | 6,009 | 6,868 | ||
Standby credit facility | ' | -45 | ||
Advance commitments | -784 | -182 | ||
Level 1 [Member] | ' | ' | ||
Assets: | ' | ' | ||
Cash and due from banks | 2,571,350 | 1,713,940 | ||
Interest-bearing deposits | 0 | 0 | ||
Securities purchased under agreements to resell | 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 | ||
Liabilities: | ' | ' | ||
Deposits | 0 | 0 | ||
Consolidated obligation discount notes | 0 | 0 | ||
Consolidated obligation bonds | 0 | 0 | ||
Mandatorily redeemable capital stock | 4,371 | 4,764 | ||
Accrued interest payable | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Other Asset (Liability): | ' | ' | ||
Standby letters of credit | 0 | 0 | ||
Standby bond purchase agreements | 0 | 0 | ||
Standby credit facility | ' | 0 | ||
Advance commitments | 0 | 0 | ||
Level 2 [Member] | ' | ' | ||
Assets: | ' | ' | ||
Cash and due from banks | 0 | 0 | ||
Interest-bearing deposits | 146 | 1,116 | ||
Securities purchased under agreements to resell | 1,075,000 | ' | ||
Federal funds sold | 1,450,000 | 575,000 | ||
Trading securities | 1,476,212 | 2,704,777 | ||
Held-to-maturity securities | 4,703,646 | 5,038,465 | ||
Advances | 20,635,315 | 17,461,489 | ||
Mortgage loans held for portfolio, net of allowance | 6,331,505 | 5,991,371 | ||
Accrued interest receivable | 63,232 | 72,526 | ||
Derivative assets | 119,942 | 172,806 | ||
Liabilities: | ' | ' | ||
Deposits | 677,069 | 961,888 | ||
Consolidated obligation discount notes | 15,947,112 | 10,889,682 | ||
Consolidated obligation bonds | 19,975,760 | 19,808,605 | ||
Mandatorily redeemable capital stock | 0 | 0 | ||
Accrued interest payable | 71,757 | 62,447 | ||
Derivative liabilities | 299,662 | 470,329 | ||
Other Asset (Liability): | ' | ' | ||
Standby letters of credit | -777 | -996 | ||
Standby bond purchase agreements | 6,009 | 6,868 | ||
Standby credit facility | ' | -45 | ||
Advance commitments | -784 | -182 | ||
Level 3 [Member] | ' | ' | ||
Assets: | ' | ' | ||
Cash and due from banks | 0 | 0 | ||
Interest-bearing deposits | 0 | 0 | ||
Securities purchased under agreements to resell | 0 | ' | ||
Federal funds sold | 0 | 0 | ||
Trading securities | 0 | 0 | ||
Held-to-maturity securities | 381,424 | 376,740 | ||
Advances | 0 | 0 | ||
Mortgage loans held for portfolio, net of allowance | 0 | 0 | ||
Accrued interest receivable | 0 | 0 | ||
Derivative assets | 0 | 0 | ||
Liabilities: | ' | ' | ||
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 | ||
Other Asset (Liability): | ' | ' | ||
Standby letters of credit | 0 | 0 | ||
Standby bond purchase agreements | 0 | 0 | ||
Standby credit facility | ' | 0 | ||
Advance commitments | $0 | $0 | ||
[1] | Fair value:B $5,085,070 and $5,415,205 as of SeptemberB 30, 2014 and DecemberB 31, 2013, respectively. |
Fair_Values_Fair_Value_Assets_
Fair Values (Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | $1,476,212 | $2,704,777 | ||
Total derivative assets | 26,098 | 27,957 | ||
Derivative Asset, Netting Adjustment and Cash Collateral | -93,844 | -144,849 | ||
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Collateral Obligation To Return Securities Not Subject To Master Netting Arrangement Deduction | -1,075,085 | [1] | -24 | [1] |
Total derivative liabilities | 51,417 | 108,353 | ||
Derivative Liability, Netting Adjustment and Cash Collateral | -248,245 | -361,976 | ||
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral Not Subject To Master Netting Arrangement Deduction | -103 | [1] | -392 | [1] |
Held-to-maturity securities | 5,085,070 | 5,415,205 | ||
Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 1,476,212 | 2,704,777 | ||
Total derivative assets | 26,098 | 27,957 | ||
Derivative Asset, Netting Adjustment and Cash Collateral | -93,844 | [2] | -144,849 | [2] |
Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Collateral Obligation To Return Securities Not Subject To Master Netting Arrangement Deduction | -93,844 | [2] | -144,849 | [2] |
TOTAL ASSETS MEASURED AT FAIR VALUE | 1,502,310 | 2,732,734 | ||
Total derivative liabilities | 51,417 | 108,353 | ||
Derivative Liability, Netting Adjustment and Cash Collateral | -248,245 | [2] | -361,976 | [2] |
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral Not Subject To Master Netting Arrangement Deduction | -248,245 | [2] | -361,976 | [2] |
TOTAL LIABILITIES MEASURED AT FAIR VALUE | 51,417 | 108,353 | ||
Nonrecurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
TOTAL ASSETS MEASURED AT FAIR VALUE | 1,368 | 734 | ||
Real estate owned | 1,368 | [3] | 497 | [4] |
Non-mortgage-backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 1,331,276 | 2,532,987 | ||
Held-to-maturity securities | 123,898 | 54,872 | ||
Certificates Of Deposit [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | ' | 260,009 | ||
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 | ||
U.S. Treasury Obligations [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 25,031 | 25,012 | ||
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 | 25,031 | 25,012 | ||
Government-Sponsored Enterprise Obligations [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 1,306,245 | [5],[6] | 2,247,966 | [5],[7] |
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 | 1,306,245 | [5],[7] | 2,247,966 | [5],[7] |
Mortgage-Backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 144,936 | 171,790 | ||
Held-to-maturity securities | 4,961,172 | 5,360,333 | ||
U.S. Olbigation MBS [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 986 | [8] | 1,090 | [9] |
Held-to-maturity securities | 60,296 | [8] | 69,180 | [9] |
U.S. Olbigation MBS [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 986 | [9] | 1,090 | [9] |
Government-sponsored enterprise MBS [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 143,950 | [10] | 170,700 | [10] |
Held-to-maturity securities | 4,643,350 | [10] | 4,969,285 | [10] |
Government-sponsored enterprise MBS [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 143,950 | [10] | 170,700 | [10] |
Private-label Home Equity Loan ABS [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Held-to-maturity securities | 2,553 | 2,767 | ||
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 | 26,013 | 27,933 | ||
Derivative Asset, Netting Adjustment and Cash Collateral | -93,844 | [2] | -144,849 | [2] |
Total derivative liabilities | 51,364 | 108,064 | ||
Derivative Liability, Netting Adjustment and Cash Collateral | -248,245 | [2] | -361,976 | [2] |
Forward Contracts [Member] | Mortgages [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total derivative assets | 85 | 24 | ||
Total derivative liabilities | 53 | 289 | ||
Residential Mortgage Backed Securities [Member] | Private-Label Mortgage-Backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Held-to-maturity securities | 254,973 | 319,101 | ||
Residential Mortgage Backed Securities [Member] | Private-Label Mortgage-Backed Securities [Member] | Nonrecurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Held-to-maturity securities | ' | 237 | [11] | |
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 | ||
Level 1 [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | 0 | ||
Total derivative assets | 0 | 0 | ||
TOTAL ASSETS MEASURED AT FAIR VALUE | 0 | 0 | ||
Total derivative liabilities | 0 | 0 | ||
TOTAL LIABILITIES MEASURED AT FAIR VALUE | 0 | 0 | ||
Level 1 [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 | 0 | 0 | ||
Real estate owned | 0 | [3] | 0 | [4] |
Level 1 [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 | ' | 0 | ||
Level 1 [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 | 0 | 0 | ||
Level 1 [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 | 0 | [5],[7] | 0 | [5],[7] |
Level 1 [Member] | U.S. Olbigation MBS [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | [9] | 0 | [9] |
Level 1 [Member] | Government-sponsored enterprise MBS [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | [10] | 0 | [10] |
Level 1 [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 | 0 | 0 | ||
Total derivative liabilities | 0 | 0 | ||
Level 1 [Member] | Forward Contracts [Member] | Mortgages [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total derivative assets | 0 | 0 | ||
Total derivative liabilities | 0 | 0 | ||
Level 1 [Member] | Residential Mortgage Backed Securities [Member] | Private-Label Mortgage-Backed Securities [Member] | Nonrecurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Held-to-maturity securities | ' | 0 | [11] | |
Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 1,476,212 | 2,704,777 | ||
Total derivative assets | 119,942 | 172,806 | ||
Total derivative liabilities | 299,662 | 470,329 | ||
Held-to-maturity securities | 4,703,646 | 5,038,465 | ||
Level 2 [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 1,476,212 | 2,704,777 | ||
Total derivative assets | 119,942 | 172,806 | ||
TOTAL ASSETS MEASURED AT FAIR VALUE | 1,596,154 | 2,877,583 | ||
Total derivative liabilities | 299,662 | 470,329 | ||
TOTAL LIABILITIES MEASURED AT FAIR VALUE | 299,662 | 470,329 | ||
Level 2 [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 | 0 | 0 | ||
Real estate owned | 0 | [3] | 0 | [4] |
Level 2 [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 | ||
Level 2 [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 | 25,031 | 25,012 | ||
Level 2 [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 | 1,306,245 | [5],[7] | 2,247,966 | [5],[7] |
Level 2 [Member] | U.S. Olbigation MBS [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 986 | [9] | 1,090 | [9] |
Level 2 [Member] | Government-sponsored enterprise MBS [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 143,950 | [10] | 170,700 | [10] |
Level 2 [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 | 119,857 | 172,782 | ||
Total derivative liabilities | 299,609 | 470,040 | ||
Level 2 [Member] | Forward Contracts [Member] | Mortgages [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total derivative assets | 85 | 24 | ||
Total derivative liabilities | 53 | 289 | ||
Level 2 [Member] | Residential Mortgage Backed Securities [Member] | Private-Label Mortgage-Backed Securities [Member] | Nonrecurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Held-to-maturity securities | ' | 0 | [11] | |
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 | 381,424 | 376,740 | ||
Level 3 [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | 0 | ||
Total derivative assets | 0 | 0 | ||
TOTAL ASSETS MEASURED AT FAIR VALUE | 0 | 0 | ||
Total derivative liabilities | 0 | 0 | ||
TOTAL LIABILITIES MEASURED AT FAIR VALUE | 0 | 0 | ||
Level 3 [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 | 1,368 | 734 | ||
Real estate owned | 1,368 | [3] | 497 | [4] |
Level 3 [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 | ' | 0 | ||
Level 3 [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 | 0 | 0 | ||
Level 3 [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 | 0 | [5],[7] | 0 | [5],[7] |
Level 3 [Member] | U.S. Olbigation MBS [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | [9] | 0 | [9] |
Level 3 [Member] | Government-sponsored enterprise MBS [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | [10] | 0 | [10] |
Level 3 [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 | 0 | 0 | ||
Total derivative liabilities | 0 | 0 | ||
Level 3 [Member] | Forward Contracts [Member] | Mortgages [Member] | Recurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total derivative assets | 0 | 0 | ||
Total derivative liabilities | 0 | 0 | ||
Level 3 [Member] | Residential Mortgage Backed Securities [Member] | Private-Label Mortgage-Backed Securities [Member] | Nonrecurring Fair Value Measurements [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Held-to-maturity securities | ' | $237 | [11] | |
[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). | |||
[2] | 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 clearing agent or derivative counterparty. | |||
[3] | Includes real estate owned written down to fair value during the quarter ended SeptemberB 30, 2014 and still outstanding as of SeptemberB 30, 2014. | |||
[4] | Includes real estate owned written down to fair value during the quarter ended DecemberB 31, 2013 and still outstanding as of DecemberB 31, 2013. | |||
[5] | See Note 17 for transactions with other FHLBanks. | |||
[6] | 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. | |||
[7] | 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. | |||
[8] | Represents MBS issued by Government National Mortgage Association (GinnieB Mae), which are guaranteed by the U.S. government. | |||
[9] | Represents MBS issued by GinnieB Mae, which are guaranteed by the U.S. government. | |||
[10] | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | |||
[11] | 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 $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Consolidated obligations: | ' | ' |
Obligation with Joint and Several Liability Arrangement, Description | 'As provided by the Bank Act or Finance Agency regulation and as described in Note 9, 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. | ' |
Obligation with Joint and Several Liability Arrangement, Recourse Provision, Description | '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 FHLBankbs 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. | ' |
Commitments for payments of principal on consolidated obligations of other Federal Home Loan Banks | $781,018,828,000 | $735,906,150,000 |
Unearned fees as well as the value of the guarantees of standby letters of credit | 777,000 | 996,000 |
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 | 1 |
Commitments to fund or purchase mortgage loans, duration of commitment | '60 days | ' |
Expiration year of standby bond purchase commitments | '2017 | ' |
Standby letters of credit, final expiration | '2020 | '2020 |
Mortgage Delivery Commitments Derivative Asset (Liability) | 32,000 | -265,000 |
Standby Credit Facility Commitments Arrangement Fees [Member] | ' | ' |
Consolidated obligations: | ' | ' |
Unearned Fees | ' | $45,000 |
Standby Letters of Credit Outstanding [Member] | Minimum [Member] | ' | ' |
Consolidated obligations: | ' | ' |
Debt Instrument, original term | '2 days | '7 days |
Standby Letters of Credit Outstanding [Member] | Maximum [Member] | ' | ' |
Consolidated obligations: | ' | ' |
Debt Instrument, original term | '10 years | '10 years |
Standby Credit Facility Commitments Outstanding [Member] | Maximum [Member] | ' | ' |
Consolidated obligations: | ' | ' |
Debt Instrument, original term | '1 year | ' |
Forward Settling Advance Commitments [Member] | ' | ' |
Consolidated obligations: | ' | ' |
Commitment Term | '24 months | ' |
Commitments_And_Contingencies_2
Commitments And Contingencies (Schedule Of Off-Balance Sheet Commitments) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Standby Letters of Credit Outstanding [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Off-balance Sheet Commitments, Expiring Within One Year | $2,231,143 | $2,530,810 |
Off-balance Sheet Commitments, Expiring After One Year | 10,655 | 12,038 |
Off-balance Sheet Commitments | 2,241,798 | 2,542,848 |
Standby Credit Facility Commitments Outstanding [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Off-balance Sheet Commitments, Expiring Within One Year | 0 | 50,000 |
Off-balance Sheet Commitments, Expiring After One Year | 0 | 0 |
Off-balance Sheet Commitments | 0 | 50,000 |
Forward Settling Advance Commitments [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Off-balance Sheet Commitments, Expiring Within One Year | 0 | 6,000 |
Off-balance Sheet Commitments, Expiring After One Year | 24,796 | 0 |
Off-balance Sheet Commitments | 24,796 | 6,000 |
Commitments for standby bond purchases [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Off-balance Sheet Commitments, Expiring Within One Year | 586,911 | 363,777 |
Off-balance Sheet Commitments, Expiring After One Year | 993,348 | 1,293,972 |
Off-balance Sheet Commitments | 1,580,259 | 1,657,749 |
Commitments To Issue Consolidated Bonds, At Par [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Off-balance Sheet Commitments, Expiring Within One Year | 57,000 | 75,000 |
Off-balance Sheet Commitments, Expiring After One Year | 0 | 0 |
Off-balance Sheet Commitments | 57,000 | 75,000 |
Federal Home Loan Bank, Consolidated Obligations, Discount Notes [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Off-balance Sheet Commitments, Expiring Within One Year | 400,000 | 650,000 |
Off-balance Sheet Commitments, Expiring After One Year | 0 | 0 |
Off-balance Sheet Commitments | 400,000 | 650,000 |
Mortgages [Member] | Forward Contracts [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Off-balance Sheet Commitments, Expiring Within One Year | 64,698 | 65,620 |
Off-balance Sheet Commitments, Expiring After One Year | 0 | 0 |
Off-balance Sheet Commitments | $64,698 | $65,620 |
Transactions_With_Stockholders2
Transactions With Stockholders And Housing Associates (Narrative) (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Capitol Federal Savings Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Loans And Leases Receivable, Acquired or Funded With Related Party During Period | $0 | $0 |
MidFirst Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Loans And Leases Receivable, Acquired or Funded With Related Party During Period | 0 | 0 |
Bank of Oklahoma, NA [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Loans And Leases Receivable, Acquired or Funded With Related Party During Period | $0 | ' |
Transactions_With_Stockholders3
Transactions With Stockholders And Housing Associates (Related Party Transactions, by Balance Sheet Grouping) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | $20,574,600 | $17,425,487 |
Outstanding Deposits | 677,069 | 961,888 |
Ten Percent Owner [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 492,576 | 266,465 |
Regulatory Capital Stock, Percent Of Total | 45.00% | 21.20% |
Outstanding Advances | 9,539,900 | 5,245,000 |
Outstanding Advances, Percent of Total | 46.70% | 30.50% |
Outstanding Deposits | 2,421 | 1,149 |
Outstanding Deposits, Percent of Total | 0.40% | 0.20% |
Ten Percent Owner [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 1,500 | 2,600 |
Regulatory Capital Stock, Percent Of Total | 0.90% | 0.60% |
Ten Percent Owner [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 491,076 | 263,865 |
Regulatory Capital Stock, Percent Of Total | 52.30% | 32.10% |
Capitol Federal Savings Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 213,054 | 129,095 |
Regulatory Capital Stock, Percent Of Total | 19.50% | 10.30% |
Outstanding Advances | 3,375,000 | 2,525,000 |
Outstanding Advances, Percent of Total | 16.50% | 14.70% |
Outstanding Deposits | 408 | 611 |
Outstanding Deposits, Percent of Total | 0.10% | 0.10% |
Capitol Federal Savings Bank [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 500 | 2,100 |
Regulatory Capital Stock, Percent Of Total | 0.30% | 0.50% |
Capitol Federal Savings Bank [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 212,554 | 126,995 |
Regulatory Capital Stock, Percent Of Total | 22.60% | 15.40% |
Bank of Oklahoma, NA [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 155,403 | ' |
Regulatory Capital Stock, Percent Of Total | 14.20% | ' |
Outstanding Advances | 3,453,400 | ' |
Outstanding Advances, Percent of Total | 16.90% | ' |
Outstanding Deposits | 1,447 | ' |
Outstanding Deposits, Percent of Total | 0.20% | ' |
Bank of Oklahoma, NA [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 500 | ' |
Regulatory Capital Stock, Percent Of Total | 0.30% | ' |
Bank of Oklahoma, NA [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 154,903 | ' |
Regulatory Capital Stock, Percent Of Total | 16.50% | ' |
MidFirst Bank [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 124,119 | 137,370 |
Regulatory Capital Stock, Percent Of Total | 11.30% | 10.90% |
Outstanding Advances | 2,711,500 | 2,720,000 |
Outstanding Advances, Percent of Total | 13.30% | 15.80% |
Outstanding Deposits | 566 | 538 |
Outstanding Deposits, Percent of Total | 0.10% | 0.10% |
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 | 0.30% | 0.10% |
MidFirst Bank [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | $123,619 | $136,870 |
Regulatory Capital Stock, Percent Of Total | 13.20% | 16.70% |
Transactions_With_Stockholders4
Transactions With Stockholders And Housing Associates (Related Party Transactions, by Balance Sheet Grouping-Directors) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Related Party Transaction [Line Items] | ' | ' |
Outstanding Advances | $20,574,600 | $17,425,487 |
Outstanding Deposits | 677,069 | 961,888 |
Director [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 10,748 | 17,712 |
Regulatory Capital Stock, Percent Of Total | 1.00% | 1.40% |
Outstanding Advances | 212,683 | 203,310 |
Outstanding Advances, Percent of Total | 1.00% | 1.20% |
Outstanding Deposits | 7,938 | 6,220 |
Outstanding Deposits, Percent of Total | 1.20% | 0.60% |
Director [Member] | Capital Stock Class A [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 3,611 | 9,380 |
Regulatory Capital Stock, Percent Of Total | 2.30% | 2.10% |
Director [Member] | Capital Stock Class B [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Regulatory Capital Stock, Value | $7,137 | $8,332 |
Regulatory Capital Stock, Percent Of Total | 0.80% | 1.00% |
Transactions_With_Stockholders5
Transactions With Stockholders And Housing Associates (Schedule Of Related Party Transactions, Mortgage Loans Disclosure) (Details) (Director [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Director [Member] | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' |
Mortgage loans acquired | $24,855,000 | $8,759,000 | $66,009,000 | $49,851,000 |
Mortgage loans aquired, Percent of Total | 8.30% | 3.50% | 8.40% | 4.90% |
Transactions_With_Other_FHLBan2
Transactions With Other FHLBanks (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |||||
Transactions With Other FHLBanks [Abstract] | ' | ' | ' | ' | ' | ||||
Average overnight interbank loan balances to other FHLBanks | $543,000 | [1] | $3,261,000 | [1] | $1,176,000 | [1] | $1,817,000 | [1] | ' |
Average overnight interbank loan balances from other FHLBanks | 5,000,000 | [1] | 44,837,000 | [1] | 1,832,000 | [1] | 18,278,000 | [1] | ' |
Par amount of purchases of consolidated obligations issued on behalf of other FHLBanks | 0 | [2] | 105,500,000 | [2] | 0 | [2] | 150,500,000 | [2] | ' |
Average deposit balance with FHLBank of Chicago for shared expense transactions | 807,000 | [3] | 2,098,000 | [3] | 640,000 | [3] | 2,434,000 | [3] | ' |
Transaction charges paid to FHLBank of Chicago for transaction service fees | 824,000 | [4] | 782,000 | [4] | 2,422,000 | [4] | 2,341,000 | [4] | ' |
Investment In Consolidated Obligations Of Other Federal Home Loan Banks Fair Value | 227,227,000 | ' | 227,227,000 | ' | 260,318,000 | ||||
Interest Income On Investments In Consolidated Obligations Of Other Federal Home Loan Banks | $2,252,000 | $2,050,000 | $6,766,000 | $4,882,000 | ' | ||||
[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] | 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 $227,227,000 and $260,318,000 as of SeptemberB 30, 2014 and DecemberB 31, 2013, respectively, are included in the non-MBS GSE obligations totals presented in Note 3. Interest income earned on these securities totaled $2,252,000B and $2,050,000 for the three months ended September 30, 2014 and 2013, respectively, and $6,766,000B and $4,882,000 for the nine months ended September 30, 2014 and 2013, respectively. | ||||||||
[3] | BalancesB are interest bearing and are classified on the Statements of Condition as interest-bearing deposits. | ||||||||
[4] | Fees are calculated monthly based on outstanding loans at the per annum rate in effect at origination. |