Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | May 02, 2017 | |
Entity Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | Federal Home Loan Bank of Topeka | |
Entity Central Index Key | 1,325,878 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Class A [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 2,229,770 | |
Class B [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 13,822,662 |
Statements Of Condition
Statements Of Condition - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
ASSETS | |||
Cash and due from banks | $ 108,492 | $ 207,254 | |
Interest-bearing deposits | 401,161 | 387,920 | |
Securities purchased under agreements to resell (Note 10) | 2,500,000 | 2,400,000 | |
Federal funds sold | 2,705,000 | 2,725,000 | |
Investment securities: | |||
Trading securities (Note 3) | 2,702,316 | 2,502,788 | |
Available-for-sale securities (Note 3) | 1,124,924 | 1,091,721 | |
Held-to-maturity securities1 (Note 3) | [1] | 4,852,742 | 4,502,224 |
Total investment securities | 8,679,982 | 8,096,733 | |
Advances (Notes 4, 6) | 25,822,945 | 23,985,835 | |
Mortgage loans held for portfolio, net: | |||
Mortgage loans held for portfolio (Notes 5, 6) | 6,702,565 | 6,642,399 | |
Less allowance for credit losses on mortgage loans (Note 6) | (1,617) | (1,674) | |
Mortgage loans held for portfolio, net | 6,700,948 | 6,640,725 | |
Overnight loans to other FHLBanks | 0 | 600,000 | |
Accrued interest receivable | 72,569 | 68,400 | |
Premises, software and equipment, net | 21,139 | 16,205 | |
Derivative assets, net (Notes 7, 10) | 51,998 | 60,900 | |
Other assets | 26,897 | 27,777 | |
TOTAL ASSETS | 47,091,131 | 45,216,749 | |
LIABILITIES | |||
Deposits (Note 8) | 579,805 | 598,931 | |
Consolidated obligations, net: | |||
Discount notes (Note 9) | 22,505,730 | 21,775,341 | |
Bonds (Note 9) | 21,670,348 | 20,722,335 | |
Total consolidated obligations, net | 44,176,078 | 42,497,676 | |
Mandatorily redeemable capital stock (Note 11) | 2,264 | 2,670 | |
Accrued interest payable | 60,887 | 49,808 | |
Affordable Housing Program payable | 37,404 | 33,242 | |
Derivative liabilities, net (Notes 7, 10) | 2,665 | 7,171 | |
Other liabilities | 102,599 | 64,803 | |
TOTAL LIABILITIES | 44,961,702 | 43,254,301 | |
Commitments and contingencies (Note 14) | |||
Capital stock outstanding - putable: | |||
Total capital stock (Notes 11) | [2] | 1,352,345 | 1,226,675 |
Retained earnings: | |||
Unrestricted | 632,842 | 611,226 | |
Restricted | 134,714 | 123,970 | |
Total retained earnings | 767,556 | 735,196 | |
Accumulated other comprehensive income (loss) (Note 12) | 9,528 | 577 | |
TOTAL CAPITAL | 2,129,429 | 1,962,448 | |
TOTAL LIABILITIES AND CAPITAL | 47,091,131 | 45,216,749 | |
Class A [Member] | |||
Capital stock outstanding - putable: | |||
Total capital stock (Notes 11) | [2] | 173,756 | 162,143 |
Class B [Member] | |||
Capital stock outstanding - putable: | |||
Total capital stock (Notes 11) | [2] | $ 1,178,589 | $ 1,064,532 |
[1] | Fair value: $4,844,888 and $4,487,252 as of March 31, 2017 and December 31, 2016, respectively. | ||
[2] | Putable |
Statements Of Condition (Parent
Statements Of Condition (Parenthetical) - USD ($) shares in Thousands, $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Investment securities: | |||
Held-to-maturity Securities, Fair Value | $ 4,844,888 | $ 4,487,252 | |
Capital stock outstanding - putable: | |||
Common Stock, par value per share | $ 100 | ||
Class A [Member] | |||
Capital stock outstanding - putable: | |||
Common Stock, par value per share | [1] | $ 100 | $ 100 |
Common Stock, Shares, Issued | [1] | 1,738 | 1,621 |
Common Stock, Shares Outstanding | [1] | 1,738 | 1,621 |
Class B [Member] | |||
Capital stock outstanding - putable: | |||
Common Stock, par value per share | [1] | $ 100 | $ 100 |
Common Stock, Shares, Issued | [1] | 11,786 | 10,645 |
Common Stock, Shares Outstanding | [1] | 11,786 | 10,645 |
[1] | Putable |
Statements Of Income
Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
INTEREST INCOME: | ||
Interest-bearing deposits | $ 648 | $ 332 |
Securities purchased under agreements to resell | 4,150 | 3,029 |
Federal funds sold | 4,290 | 1,395 |
Trading securities | 14,929 | 18,181 |
Available-for-sale securities | 4,432 | 2,022 |
Held-to-maturity securities | 14,852 | 11,532 |
Advances | 72,887 | 53,199 |
Prepayment fees on terminated advances, net | 870 | 489 |
Mortgage loans held for portfolio | 52,578 | 52,301 |
Other | 301 | 327 |
Total interest income | 169,937 | 142,807 |
INTEREST EXPENSE: | ||
Deposits | 582 | 226 |
Consolidated obligations: | ||
Discount notes | 35,488 | 20,907 |
Bonds | 67,103 | 56,729 |
Mandatorily redeemable capital stock (Note 11) | 14 | 9 |
Other | 78 | 66 |
Total interest expense | 103,265 | 77,937 |
NET INTEREST INCOME | 66,672 | 64,870 |
(Reversal) provision for credit losses on mortgage loans (Note 6) | (45) | (257) |
NET INTEREST INCOME AFTER LOAN LOSS (REVERSAL) PROVISION | 66,717 | 65,127 |
OTHER INCOME (LOSS): | ||
Total other-than-temporary impairment losses on held-to-maturity securities | (4) | (64) |
Net amount of impairment losses on held-to-maturity securities reclassified to/(from) accumulated other comprehensive income (loss) | (33) | |
Net amount of impairment losses on held-to-maturity securities reclassified to/(from) accumulated other comprehensive income (loss) | 37 | |
Net other-than-temporary impairment losses on held-to-maturity securities (Note 3) | (37) | (27) |
Net gain (loss) on trading securities (Note 3) | 4,687 | 49,204 |
Net gain (loss) on derivatives and hedging activities (Note 7) | 603 | (58,486) |
Standby bond purchase agreement commitment fees | 1,160 | 1,380 |
Letters of credit fees | 938 | 852 |
Other | 534 | 561 |
Total other income (loss) | 7,885 | (6,516) |
OTHER EXPENSES: | ||
Compensation and benefits | 8,429 | 7,751 |
Other operating | 3,730 | 3,341 |
Federal Housing Finance Agency | 752 | 809 |
Office of Finance | 778 | 712 |
Other | 1,227 | 1,026 |
Total other expenses | 14,916 | 13,639 |
INCOME BEFORE ASSESSMENTS | 59,686 | 44,972 |
Affordable Housing Program | 5,970 | 4,498 |
NET INCOME | $ 53,716 | $ 40,474 |
Statements Of Comprehensive Inc
Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Net income | $ 53,716 | $ 40,474 |
Net unrealized gain (loss) on available-for-sale securities: | ||
Unrealized gain (loss) | 8,485 | 4,742 |
Total net unrealized gain (loss) on available-for-sale securities | 8,485 | 4,742 |
Net non-credit portion of other-than-temporary impairment losses on held-to-maturity securities: | ||
Non-credit portion | (4) | (62) |
Reclassification of non-credit portion included in net income | 37 | 25 |
Accretion of non-credit portion | 376 | 550 |
Total net non-credit portion of other-than-temporary impairment losses on held-to-maturity securities | 409 | 513 |
Defined benefit pension plan: | ||
Amortization of net loss | 57 | 47 |
Total defined benefit pension plan | 57 | 47 |
Total other comprehensive income (loss) | 8,951 | 5,302 |
TOTAL COMPREHENSIVE INCOME | $ 62,667 | $ 45,776 |
Statements Of Capital
Statements Of Capital - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Balance at the beginning of the period | $ 1,962,448 | $ 1,841,752 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Comprehensive income | 62,667 | 45,776 | |
Proceeds from issuance of capital stock | 438,700 | 395,121 | |
Repurchase/redemption of capital stock | (160,927) | (116,469) | |
Net reclassification of shares to mandatorily redeemable capital stock | (173,395) | (160,234) | |
Net transfer of shares between Class A and Class B | 0 | 0 | |
Dividends on capital stock | |||
Cash payment | (64) | (73) | |
Stock issued | 0 | 0 | |
Balance at the end of the period | $ 2,129,429 | $ 2,005,873 | |
Capital Stock [Member] | |||
Shares, beginning balance | [1] | 12,266 | 12,090 |
Balance at the beginning of the period | [1] | $ 1,226,675 | $ 1,208,947 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Proceeds from issuance of capital stock, shares | [1] | 4,387 | 3,951 |
Proceeds from issuance of capital stock | [1] | $ 438,700 | $ 395,121 |
Repurchase/redemption of capital stock, shares | [1] | (1,609) | (1,165) |
Repurchase/redemption of capital stock | [1] | $ (160,927) | $ (116,469) |
Net reclassification of shares to mandatorily redeemable capital stock, shares | [1] | (1,733) | (1,602) |
Net reclassification of shares to mandatorily redeemable capital stock | [1] | $ (173,395) | $ (160,234) |
Net transfer of shares between Class A and Class B, shares | [1] | 0 | 0 |
Net transfer of shares between Class A and Class B | [1] | $ 0 | $ 0 |
Dividends on capital stock | |||
Stock issued, shares | [1] | 213 | 191 |
Stock issued | [1] | $ 21,292 | $ 19,081 |
Shares, ending balance | [1] | 13,524 | 13,465 |
Balance at the end of the period | [1] | $ 1,352,345 | $ 1,346,446 |
Total Retained Earnings [Member] | |||
Balance at the beginning of the period | 735,196 | 651,782 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Comprehensive income | 53,716 | 40,474 | |
Dividends on capital stock | |||
Cash payment | (64) | (73) | |
Stock issued | (21,292) | (19,081) | |
Balance at the end of the period | 767,556 | 673,102 | |
Unrestricted Retained Earnings [Member] | |||
Balance at the beginning of the period | 611,226 | 560,166 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Comprehensive income | 42,972 | 32,379 | |
Dividends on capital stock | |||
Cash payment | (64) | (73) | |
Stock issued | (21,292) | (19,081) | |
Balance at the end of the period | 632,842 | 573,391 | |
Restricted Retained Earnings [Member] | |||
Balance at the beginning of the period | 123,970 | 91,616 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Comprehensive income | 10,744 | 8,095 | |
Dividends on capital stock | |||
Balance at the end of the period | 134,714 | 99,711 | |
Accumulated Other Comprehensive Income (Loss) [Member] | |||
Balance at the beginning of the period | 577 | (18,977) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Comprehensive income | 8,951 | 5,302 | |
Dividends on capital stock | |||
Balance at the end of the period | $ 9,528 | $ (13,675) | |
Class A [Member] | Capital Stock [Member] | |||
Shares, beginning balance | [1] | 1,621 | 1,797 |
Balance at the beginning of the period | [1] | $ 162,143 | $ 179,683 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Proceeds from issuance of capital stock, shares | [1] | 0 | 11 |
Proceeds from issuance of capital stock | [1] | $ 31 | $ 1,074 |
Repurchase/redemption of capital stock, shares | [1] | (1,605) | (1,158) |
Repurchase/redemption of capital stock | [1] | $ (160,498) | $ (115,815) |
Net reclassification of shares to mandatorily redeemable capital stock, shares | [1] | (4) | (35) |
Net reclassification of shares to mandatorily redeemable capital stock | [1] | $ (485) | $ (3,509) |
Net transfer of shares between Class A and Class B, shares | [1] | 1,726 | 1,480 |
Net transfer of shares between Class A and Class B | [1] | $ 172,565 | $ 148,046 |
Dividends on capital stock | |||
Shares, ending balance | [1] | 1,738 | 2,095 |
Balance at the end of the period | [1] | $ 173,756 | $ 209,479 |
Class B [Member] | Capital Stock [Member] | |||
Shares, beginning balance | [1] | 10,645 | 10,293 |
Balance at the beginning of the period | [1] | $ 1,064,532 | $ 1,029,264 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Proceeds from issuance of capital stock, shares | [1] | 4,387 | 3,940 |
Proceeds from issuance of capital stock | [1] | $ 438,669 | $ 394,047 |
Repurchase/redemption of capital stock, shares | [1] | (4) | (7) |
Repurchase/redemption of capital stock | [1] | $ (429) | $ (654) |
Net reclassification of shares to mandatorily redeemable capital stock, shares | [1] | (1,729) | (1,567) |
Net reclassification of shares to mandatorily redeemable capital stock | [1] | $ (172,910) | $ (156,725) |
Net transfer of shares between Class A and Class B, shares | [1] | (1,726) | (1,480) |
Net transfer of shares between Class A and Class B | [1] | $ (172,565) | $ (148,046) |
Dividends on capital stock | |||
Stock issued, shares | [1] | 213 | 191 |
Stock issued | [1] | $ 21,292 | $ 19,081 |
Shares, ending balance | [1] | 11,786 | 11,370 |
Balance at the end of the period | [1] | $ 1,178,589 | $ 1,136,967 |
[1] | Putable |
Statements Of Capital (Parenthe
Statements Of Capital (Parenthetical) - Capital Stock [Member] | 3 Months Ended | |
Mar. 31, 2017Rate | Mar. 31, 2016Rate | |
Class A [Member] | ||
Stock dividend rate percentage | 1.00% | 1.00% |
Class B [Member] | ||
Stock dividend rate percentage | 6.50% | 6.00% |
Statements Of Cash Flows
Statements Of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 53,716 | $ 40,474 |
Adjustments to reconcile income (loss) to net cash provided by (used in) operating activities: | ||
Premiums and discounts on consolidated obligations, net | (32) | (1,000) |
Concessions on consolidated obligations | 1,151 | 2,001 |
Premiums and discounts on investments, net | 691 | 549 |
Premiums, discounts and commitment fees on advances, net | (1,543) | (1,622) |
Premiums, discounts and deferred loan costs on mortgage loans, net | 4,328 | 4,091 |
Fair value adjustments on hedged assets or liabilities | 1,272 | 1,392 |
Premises, software and equipment | 498 | 517 |
Other | 57 | 47 |
(Reversal) provision for credit losses on mortgage loans | (45) | (257) |
Non-cash interest on mandatorily redeemable capital stock | 13 | 6 |
Net other-than-temporary impairment losses on held-to-maturity securities | 37 | 27 |
Net realized (gain) loss on sale of premises and equipment | 0 | (21) |
Other adjustments | 12 | (157) |
Net (gain) loss on trading securities | (4,687) | (49,204) |
(Gain) loss due to change in net fair value adjustment on derivative and hedging activities | 5,955 | 72,104 |
(Increase) decrease in accrued interest receivable | (4,138) | 7,640 |
Change in net accrued interest included in derivative assets | (6,460) | (9,067) |
(Increase) decrease in other assets | (104) | 749 |
Increase (decrease) in accrued interest payable | 11,090 | 10,843 |
Change in net accrued interest included in derivative liabilities | (504) | (6,740) |
Increase (decrease) in Affordable Housing Program liability | 4,162 | 1,526 |
Increase (decrease) in other liabilities | (5,602) | (4,519) |
Total adjustments | 6,151 | 28,905 |
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 59,867 | 69,379 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Net (increase) decrease in interest-bearing deposits | 4,423 | (341,009) |
Net (increase) decrease in securities purchased under resale agreements | (100,000) | 1,185,000 |
Net (increase) decrease in Federal funds sold | 20,000 | (330,000) |
Net (increase) decrease in short-term trading securities | (200,000) | 0 |
Proceeds from maturities of and principal repayments on long-term trading securities | 5,159 | 255,284 |
Purchases of long-term trading securities | 0 | (193,445) |
Proceeds from maturities of and principal repayments on long-term available-for-sale securities | 1,241 | 447 |
Purchases of long-term available-for-sale securities | (30,408) | (318,669) |
Proceeds from maturities of and principal repayments on long-term held-to-maturity securities | 218,349 | 217,454 |
Purchases of long-term held-to-maturity securities | (524,988) | (18,425) |
Principal collected on advances | 116,198,905 | 33,241,537 |
Advances made | (118,053,563) | (35,041,019) |
Principal collected on mortgage loans | 226,724 | 200,093 |
Purchases of mortgage loans | (292,016) | (222,757) |
Proceeds from sale of foreclosed assets | 45 | 797 |
Principal collected on other loans made | 619 | 578 |
Net (increase) decrease in loans to other FHLBanks | 600,000 | 0 |
Proceeds from sale of premises, software and equipment | 48 | 1 |
Purchases of premises, software and equipment | (5,012) | (1,749) |
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | (1,930,474) | (1,365,882) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net increase (decrease) in deposits | (4,966) | (46,151) |
Net proceeds from issuance of consolidated obligations: | ||
Discount notes | 229,023,531 | 140,349,601 |
Bonds | 2,927,114 | 1,416,303 |
Payments for maturing and retired consolidated obligations: | ||
Discount notes | (228,296,599) | (137,005,650) |
Bonds | (1,973,230) | (4,138,750) |
Proceeds from financing derivatives | 0 | 9,517 |
Net interest payments received (paid) for financing derivatives | (7,900) | (25,064) |
Proceeds from issuance of capital stock | 438,700 | 395,121 |
Payments for repurchase/redemption of capital stock | (160,927) | (116,469) |
Payments for repurchase of mandatorily redeemable capital stock | (173,814) | (159,546) |
Cash dividends paid | (64) | (73) |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 1,771,845 | 678,839 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (98,762) | (617,664) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 207,254 | 682,670 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 108,492 | 65,006 |
Supplemental disclosures: | ||
Interest paid | 95,448 | 69,437 |
Affordable Housing Program payments | 1,927 | 3,290 |
Net transfers of mortgage loans to other assets | 337 | 223 |
Change in capital expenditures incurred but reserved for construction holdback | $ 468 | $ 0 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | BASIS OF PRESENTATION Basis of Presentation: The accompanying interim financial statements of the Federal Home Loan Bank of Topeka (FHLBank or FHLBank Topeka) 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, 2016 . 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 9, 2017 (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 and available-for-sale securities, the fair value of derivatives 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. Derivatives: All derivatives are recognized on the Statements of Condition at their fair values (including net accrued interest receivable or payable on the derivatives) and are reported as either derivative assets or derivative liabilities, net of cash collateral, including initial and variation margin, and accrued interest received or pledged by clearing agents and/or counterparties. The fair values of derivatives are netted by clearing agent or counterparty when the netting requirements have been met. If these netted amounts are positive, they are classified as an asset and, if negative, they are classified as a liability. Cash flows associated with derivatives are reflected as cash flows from operating activities in the Statements of Cash Flows unless the derivative meets the criteria to be a financing derivative. The FHLBank utilizes two Derivative Clearing Organizations (Clearinghouses) for all cleared derivative transactions, LCH.Clearnet LLC and CME Clearing. Effective January 3, 2017, CME Clearing made certain amendments to its rulebook changing the legal characterization of variation margin payments to be daily settlement payments rather than collateral. Variation margin payments related to LCH.Clearnet LLC contracts continue to be characterized as cash collateral. At both Clearinghouses, initial margin is considered cash collateral. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards And Interpretations And Changes In And Adoptions Of Accounting Principles (Notes) | 3 Months Ended |
Mar. 31, 2017 | |
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 Premium Amortization on Purchased Callable Debt Securities. In March 2017, Financial Accounting Standards Board (FASB) issued an amendment to shorten the amortization period of any premium on callable debt securities to the first call date instead of over the contractual life of the instrument. The amendment does not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The guidance is intended to reduce diversity in practice in the amortization of premiums and the consideration of how the potential of a security being called is factored into current impairment assessments. The amendment also intends to more closely align the amortization of premiums and discounts to the expectations incorporated into the market pricing of the instrument. The amendment will be effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018, which is January 1, 2019 for the FHLBank, and early adoption is permitted. This guidance should be applied using a modified retrospective method through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The adoption of this guidance is not expected to have a material effect on the FHLBank's financial condition, results of operations or cash flows. Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. In March 2017, FASB issued an amendment to improve the presentation of net periodic pension cost and net periodic postretirement benefit cost. The amendment requires that the employer disaggregate the service cost component and the other components of net benefit cost and allow only the service cost component of net benefit cost to be eligible for capitalization. The amendment is intended to provide transparency, consistency, and usefulness to users of financial statements. The amendment will be effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017, which is January 1, 2018 for the FHLBank, and early adoption is permitted. This guidance should be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit in assets. The adoption of this guidance is not expected to have a material effect on the FHLBank's financial condition, results of operations or cash flows. Classification of Certain Cash Receipts and Cash Payments. In August 2016, FASB issued amendments to clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. This guidance is intended to reduce existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This guidance is effective for the FHLBank for interim and annual periods beginning on January 1, 2018, and early adoption is permitted. This guidance should be applied using a retrospective transition method to each period presented. This guidance is not expected to have a material impact on the FHLBank's statement of cash flows. Measurement of Credit Losses on Financial Instruments. In June 2016, FASB issued amended guidance for the accounting of credit losses on financial instruments. The amendments require entities to measure expected credit losses based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. Additionally, under the new guidance, a financial asset, or a group of financial assets, measured at amortized cost basis is required to be presented at the net amount expected to be collected. The guidance also requires: • The statement of income to reflect the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period; • The entities to determine the allowance for credit losses for purchased financial assets with a more-than-insignificant amount of credit deterioration since origination that are measured at amortized cost basis in a similar manner to other financial assets measured at amortized cost basis. The initial allowance for credit losses is required to be added to the purchase price; • Credit losses relating to available-for-sale debt securities to be recorded through an allowance for credit losses. The amendments limit the allowance for credit losses to the amount by which fair value is below amortized cost; and • Public entities to further disaggregate the current disclosure of credit quality indicators in relation to the amortized cost of financing receivables by the year of origination (i.e., vintage). The guidance is effective for the FHLBank for interim and annual periods beginning on January 1, 2020. Early application is permitted as of the interim and annual reporting periods beginning after December 15, 2018. The guidance should be applied using a modified-retrospective approach, through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. In addition, entities are required to use a prospective transition approach for debt securities for which an other-than-temporary impairment (OTTI) charge had been recognized before the effective date. The FHLBank is currently evaluating this guidance and has begun its implementation efforts by identifying key interpretive issues that will eventually determine the magnitude of the impact on the FHLBank's financial condition, results of operations and cash flows. Contingent Put and Call Options in Debt Instruments. In March 2016, FASB issued amendments to resolve current diversity in practice by clarifying the steps required when assessing whether the economic characteristics and risks of call (put) options are clearly and closely related to the economic characteristics and risks of their debt hosts, which is one of the criteria for bifurcating an embedded derivative. The amendments apply to all entities that are issuers of or investors in debt instruments (or hybrid financial instruments that are determined to have a debt host) with embedded call (put) options. The amendments became effective for annual periods, and interim periods within those annual periods, beginning on January 1, 2017. The adoption of this guidance had no effect on the FHLBank's financial condition, results of operations or cash flows. Leases. In February 2016, FASB issued amendments to lease accounting guidance. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use asset for all leases in the statement of financial condition, which effectively removes a source of off-balance sheet financing for operating leases. A distinction remains between finance leases and operating leases, but the assets and liabilities arising from operating leases are now also required to be recognized in the statement of financial condition. Lessor accounting is largely unchanged. The amendments are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018, which is January 1, 2019 for the FHLBank. The FHLBank has a limited number of lease agreements and is currently evaluating this guidance to determine the impact, if any, on the FHLBank's financial condition, results of operations or cash flows. Recognition and Measurement of Financial Assets and Financial Liabilities. In January 2016, FASB issued amendments to improve the recognition, measurement, presentation and disclosure of financial instruments through changes to existing GAAP. The provisions impacting the FHLBank include the elimination of the requirement to disclose the method and significant assumptions used to estimate the fair value of financial instruments carried at amortized cost, the requirement to use the notion of exit price when measuring the fair value of financial instruments for disclosure purposes, and the separate presentation of financial assets and financial liabilities by measurement category and form of asset (i.e., securities or loans and receivables) on the statement of financial condition or in the notes to financial statements. The amendments are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017, which is January 1, 2018 for the FHLBank. The FHLBank has concluded that this guidance will impact disclosures related to the fair value of financial instruments. However, the FHLBank is currently evaluating these amendments to determine the impact, if any, on the FHLBank's financial condition, results of operations or cash flows. Revenue Recognition. In May 2014, 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. In July 2015, FASB voted to defer the effective date of the new standard by one year. In addition, in March 2016, FASB issued amendments to clarify the implementation guidance on principal versus agent considerations, in particular, relating to how an entity should determine whether the entity is a principal or an agent for each specified good or service promised to the customer and the nature of each specified good or service. The amendments do not change the core principle in the new revenue standard. The standard is effective for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2017, which is January 1, 2018 for the FHLBank. Because the guidance does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other GAAP, the FHLBank does not expect the new guidance to have a material impact on its financial condition, results of operations or cash flows. |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | INVESTMENT SECURITIES Trading Securities: Trading securities by major security type as of March 31, 2017 and December 31, 2016 are summarized in Table 3.1 (in thousands): Table 3.1 Fair Value 03/31/2017 12/31/2016 Non-mortgage-backed securities: Certificates of deposit $ 200,006 $ — GSE obligations 1 1,564,310 1,563,351 Non-mortgage-backed securities 1,764,316 1,563,351 Mortgage-backed securities: U.S. obligation MBS 2 665 690 GSE MBS 3 937,335 938,747 Mortgage-backed securities 938,000 939,437 TOTAL $ 2,702,316 $ 2,502,788 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. 2 Represents single-family MBS issued by Government National Mortgage Association (Ginnie Mae), which are guaranteed by the U.S. government. 3 Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. Net gains (losses) on trading securities during the three months ended March 31, 2017 and 2016 are shown in Table 3.2 (in thousands): Table 3.2 Three Months Ended 03/31/2017 03/31/2016 Net gains (losses) on trading securities held as of March 31, 2017 $ 4,687 $ 53,955 Net gains (losses) on trading securities sold or matured prior to March 31, 2017 — (4,751 ) NET GAIN (LOSS) ON TRADING SECURITIES $ 4,687 $ 49,204 Available-for-sale Securities: Available-for-sale securities by major security type as of March 31, 2017 are summarized in Table 3.3 (in thousands): Table 3.3 03/31/2017 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Mortgage-backed securities: GSE MBS 1 $ 1,107,094 $ 17,840 $ (10 ) $ 1,124,924 TOTAL $ 1,107,094 $ 17,840 $ (10 ) $ 1,124,924 1 Represents fixed rate multi-family MBS issued by Fannie Mae . Available-for-sale securities by major security type as of December 31, 2016 are summarized in Table 3.4 (in thousands): Table 3.4 12/31/2016 Amortized Gross Gross Fair Value Mortgage-backed securities: GSE MBS 1 $ 1,082,376 $ 9,396 $ (51 ) $ 1,091,721 TOTAL $ 1,082,376 $ 9,396 $ (51 ) $ 1,091,721 1 Represents fixed rate multi-family MBS issued by Fannie Mae . Table 3.5 summarizes the available-for-sale securities with unrealized losses as of March 31, 2017 (in thousands). 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 3.5 03/31/2017 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Mortgage-backed securities: GSE MBS 1 $ 30,408 $ (10 ) $ — $ — $ 30,408 $ (10 ) TOTAL TEMPORARILY IMPAIRED SECURITIES $ 30,408 $ (10 ) $ — $ — $ 30,408 $ (10 ) 1 Represents fixed rate multi-family MBS issued by Fannie Mae . Table 3.6 summarizes the available-for-sale securities with unrealized losses as of December 31, 2016 (in thousands). 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 3.6 12/31/2016 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Mortgage-backed securities: GSE MBS 1 $ — $ — $ 33,509 $ (51 ) $ 33,509 $ (51 ) TOTAL TEMPORARILY IMPAIRED SECURITIES $ — $ — $ 33,509 $ (51 ) $ 33,509 $ (51 ) 1 Represents fixed rate multi-family MBS issued by Fannie Mae . All available-for-sale securities are GSE MBS and as such do not have a single maturity date. The expected maturities of these securities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. Held-to-maturity Securities: Held-to-maturity securities by major security type as of March 31, 2017 are summarized in Table 3.7 (in thousands): Table 3.7 03/31/2017 Amortized Cost OTTI Recognized in OCI Carrying Value Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Non-mortgage-backed securities: State or local housing agency obligations $ 95,580 $ — $ 95,580 $ 62 $ (5,610 ) $ 90,032 Non-mortgage-backed securities 95,580 — 95,580 62 (5,610 ) 90,032 Mortgage-backed securities: U.S. obligation MBS 1 117,025 — 117,025 1 (209 ) 116,817 GSE MBS 2 4,542,231 — 4,542,231 13,909 (17,566 ) 4,538,574 Private-label residential MBS 103,338 (5,432 ) 97,906 4,952 (3,393 ) 99,465 Mortgage-backed securities 4,762,594 (5,432 ) 4,757,162 18,862 (21,168 ) 4,754,856 TOTAL $ 4,858,174 $ (5,432 ) $ 4,852,742 $ 18,924 $ (26,778 ) $ 4,844,888 1 Represents single-family 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 by major security type as of December 31, 2016 are summarized in Table 3.8 (in thousands): Table 3.8 12/31/2016 Amortized Cost OTTI Recognized in OCI Carrying Value Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Non-mortgage-backed securities: State or local housing agency obligations $ 105,780 $ — $ 105,780 $ 98 $ (5,707 ) $ 100,171 Non-mortgage-backed securities 105,780 — 105,780 98 (5,707 ) 100,171 Mortgage-backed securities: U.S obligation MBS 1 36,331 — 36,331 — (201 ) 36,130 GSE MBS 2 4,250,547 — 4,250,547 12,044 (22,071 ) 4,240,520 Private-label residential MBS 115,407 (5,841 ) 109,566 4,869 (4,004 ) 110,431 Mortgage-backed securities 4,402,285 (5,841 ) 4,396,444 16,913 (26,276 ) 4,387,081 TOTAL $ 4,508,065 $ (5,841 ) $ 4,502,224 $ 17,011 $ (31,983 ) $ 4,487,252 1 Represents single-family 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. Table 3.9 summarizes the held-to-maturity securities with unrealized losses as of March 31, 2017 (in thousands). 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 3.9 03/31/2017 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses 1 Non-mortgage-backed securities: State or local housing agency obligations $ — $ — $ 24,390 $ (5,610 ) $ 24,390 $ (5,610 ) Non-mortgage-backed securities — — 24,390 (5,610 ) 24,390 (5,610 ) Mortgage-backed securities: U.S. obligation MBS 2 82,091 (125 ) 34,600 (84 ) 116,691 (209 ) GSE MBS 3 503,701 (944 ) 1,993,171 (16,622 ) 2,496,872 (17,566 ) Private-label residential MBS 584 (1 ) 79,149 (5,291 ) 79,733 (5,292 ) Mortgage-backed securities 586,376 (1,070 ) 2,106,920 (21,997 ) 2,693,296 (23,067 ) TOTAL TEMPORARILY IMPAIRED SECURITIES $ 586,376 $ (1,070 ) $ 2,131,310 $ (27,607 ) $ 2,717,686 $ (28,677 ) 1 Total unrealized losses in Table 3.9 will not agree to total gross unrecognized losses in Table 3.7 . Total unrealized losses in Table 3.9 include non-credit-related OTTI recognized in accumulated other comprehensive income (AOCI) and gross unrecognized gains on previously other-than-temporarily impaired securities. 2 Represents single-family MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. 3 Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. Table 3.10 summarizes the held-to-maturity securities with unrealized losses as of December 31, 2016 (in thousands). 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 3.10 12/31/2016 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses 1 Non-mortgage-backed securities: State or local housing agency obligations $ — $ — $ 34,348 $ (5,707 ) $ 34,348 $ (5,707 ) Non-mortgage-backed securities — — 34,348 (5,707 ) 34,348 (5,707 ) Mortgage-backed securities: U.S obligation MBS 2 — — 35,998 (201 ) 35,998 (201 ) GSE MBS 3 1,097,379 (2,612 ) 2,025,394 (19,459 ) 3,122,773 (22,071 ) Private-label residential MBS 1,903 (3 ) 85,984 (6,263 ) 87,887 (6,266 ) Mortgage-backed securities 1,099,282 (2,615 ) 2,147,376 (25,923 ) 3,246,658 (28,538 ) TOTAL TEMPORARILY IMPAIRED SECURITIES $ 1,099,282 $ (2,615 ) $ 2,181,724 $ (31,630 ) $ 3,281,006 $ (34,245 ) 1 Total unrealized losses in Table 3.10 will not agree to total gross unrecognized losses in Table 3.8 . Total unrealized losses in Table 3.10 include non-credit-related OTTI recognized in AOCI and gross unrecognized gains on previously other-than-temporarily impaired securities. 2 Represents single-family MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. 3 Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. The amortized cost, carrying value and fair values of held-to-maturity securities by contractual maturity as of March 31, 2017 and December 31, 2016 are shown in Table 3.11 (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 3.11 03/31/2017 12/31/2016 Amortized Cost Carrying Value Fair Value Amortized Cost Carrying Value Fair Value Non-mortgage-backed securities: Due in one year or less $ — $ — $ — $ — $ — $ — Due after one year through five years 2,565 2,565 2,565 2,710 2,710 2,710 Due after five years through 10 years — — — 10,055 10,055 10,048 Due after 10 years 93,015 93,015 87,467 93,015 93,015 87,413 Non-mortgage-backed securities 95,580 95,580 90,032 105,780 105,780 100,171 Mortgage-backed securities 4,762,594 4,757,162 4,754,856 4,402,285 4,396,444 4,387,081 TOTAL $ 4,858,174 $ 4,852,742 $ 4,844,888 $ 4,508,065 $ 4,502,224 $ 4,487,252 Other-than-temporary Impairment: For the 19 outstanding private-label securities with OTTI during the lives of the securities, the FHLBank’s reported balances as of March 31, 2017 are presented in Table 3.12 (in thousands): Table 3.12 03/31/2017 Unpaid Principal Balance Amortized Cost Carrying Value Fair Value Private-label residential MBS: Prime $ 9,551 $ 8,531 $ 7,911 $ 8,878 Alt-A 25,815 23,006 18,194 22,026 TOTAL $ 35,366 $ 31,537 $ 26,105 $ 30,904 Table 3.13 presents a roll-forward of OTTI activity for the three months ended March 31, 2017 and 2016 related to credit losses recognized in earnings (in thousands): Table 3.13 Three Months Ended 03/31/2017 03/31/2016 Balance, beginning of period $ 7,502 $ 7,785 Additional charge on securities for which OTTI was previously recognized 1 37 27 Amortization of credit component of OTTI 2 (69 ) (36 ) Balance, end of period $ 7,470 $ 7,776 1 For the three months ended March 31, 2017 and 2016, securities previously impaired represent all securities that were impaired prior to January 1, 2017 and 2016, 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 March 31, 2017 , the fair value of a portion of the FHLBank's available-for-sale and held-to-maturity MBS were below the amortized cost of the securities due to interest rate volatility and/or illiquidity. 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 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 | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 and December 31, 2016 , the FHLBank had advances outstanding at interest rates ranging from 0.66 percent to 7.41 percent and 0.46 percent to 7.41 percent , respectively. Table 4.1 presents advances summarized by year of contractual maturity as of March 31, 2017 and December 31, 2016 (dollar amounts in thousands): Table 4.1 03/31/2017 12/31/2016 Year of Contractual Maturity Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Due in one year or less $ 19,160,922 1.16 % $ 12,601,183 1.03 % Due after one year through two years 1,886,504 1.78 2,019,260 1.96 Due after two years through three years 975,626 1.72 1,073,881 1.47 Due after three years through four years 1,047,470 2.08 781,339 1.96 Due after four years through five years 673,581 2.00 848,112 2.15 Thereafter 2,071,070 2.17 6,636,740 1.19 Total par value 25,815,173 1.37 % 23,960,515 1.24 % Discounts (12,435 ) (13,977 ) Hedging adjustments 20,207 39,297 TOTAL $ 25,822,945 $ 23,985,835 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 March 31, 2017 and December 31, 2016 include callable advances totaling $1,927,022,000 and $6,336,280,000 , respectively. Of these callable advances, there were $1,880,337,000 and $6,260,837,000 of variable rate advances as of March 31, 2017 and December 31, 2016 , respectively. Convertible advances allow the FHLBank to convert an advance from one interest payment term structure to another. When issuing convertible advances, the FHLBank purchases 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 March 31, 2017 and December 31, 2016 , the FHLBank had convertible advances outstanding totaling $1,027,342,000 and $1,147,392,000 , 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 March 31, 2017 and December 31, 2016 (in thousands): Table 4.2 Year of Contractual Maturity or Next Call Date Year of Contractual Maturity or Next Conversion Date Redemption Term 03/31/2017 12/31/2016 03/31/2017 12/31/2016 Due in one year or less $ 20,553,148 $ 18,411,727 $ 19,329,422 $ 12,897,983 Due after one year through two years 1,532,082 1,752,403 1,809,504 1,800,460 Due after two years through three years 781,753 750,126 1,003,626 1,168,381 Due after three years through four years 960,052 666,059 1,136,120 808,139 Due after four years through five years 513,340 755,753 739,081 945,462 Thereafter 1,474,798 1,624,447 1,797,420 6,340,090 TOTAL PAR VALUE $ 25,815,173 $ 23,960,515 $ 25,815,173 $ 23,960,515 Interest Rate Payment Terms : Table 4.3 details additional interest rate payment terms for advances as of March 31, 2017 and December 31, 2016 (in thousands): Table 4.3 03/31/2017 12/31/2016 Fixed rate: Due in one year or less $ 8,496,631 $ 2,400,382 Due after one year 5,273,824 5,589,805 Total fixed rate 13,770,455 7,990,187 Variable rate: Due in one year or less 10,664,291 10,200,801 Due after one year 1,380,427 5,769,527 Total variable rate 12,044,718 15,970,328 TOTAL PAR VALUE $ 25,815,173 $ 23,960,515 See Note 6 for information related to the FHLBank’s credit risk on advances and allowance for credit losses. |
Mortgage Loans
Mortgage Loans | 3 Months Ended |
Mar. 31, 2017 | |
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 loans (by the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), the Rural Housing Service of the Department of Agriculture (RHS) and/or the Department of Housing and Urban Development (HUD)) and conventional residential loans credit-enhanced by participating financial institutions (PFIs) . 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 March 31, 2017 and December 31, 2016 on mortgage loans held for portfolio (in thousands): Table 5.1 03/31/2017 12/31/2016 Real estate: Fixed rate, medium-term 1 , single-family mortgages $ 1,324,034 $ 1,353,938 Fixed rate, long-term, single-family mortgages 5,273,241 5,182,103 Total unpaid principal balance 6,597,275 6,536,041 Premiums 103,638 103,665 Discounts (2,871 ) (2,276 ) Deferred loan costs, net 363 387 Other deferred fees (78 ) (85 ) Hedging adjustments 4,238 4,667 Total before Allowance for Credit Losses on Mortgage Loans 6,702,565 6,642,399 Allowance for Credit Losses on Mortgage Loans (1,617 ) (1,674 ) MORTGAGE LOANS HELD FOR PORTFOLIO, NET $ 6,700,948 $ 6,640,725 1 Medium-term defined as a term of 15 years or less at origination. Table 5.2 presents information as of March 31, 2017 and December 31, 2016 on the outstanding unpaid principal balance (UPB) of mortgage loans held for portfolio (in thousands): Table 5.2 03/31/2017 12/31/2016 Conventional loans $ 5,945,759 $ 5,899,924 Government-guaranteed or insured loans 651,516 636,117 TOTAL UNPAID PRINCIPAL BALANCE $ 6,597,275 $ 6,536,041 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 | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [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 : Table 6.1 presents a roll-forward of the allowance for credit losses for the three months ended March 31, 2017 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 March 31, 2017 (in thousands). 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. Table 6.1 03/31/2017 Conventional Loans Government Loans Credit Products 1 Direct Financing Lease Receivable Total Allowance for credit losses: Balance, beginning of three-month period $ 1,674 $ — $ — $ — $ 1,674 Net (charge-offs) recoveries (12 ) — — — (12 ) (Reversal) provision for credit losses (45 ) — — — (45 ) Balance, end of three-month period $ 1,617 $ — $ — $ — $ 1,617 Allowance for credit losses, end of period: Individually evaluated for impairment $ — $ — $ — $ — $ — Collectively evaluated for impairment 1,617 — — — 1,617 Recorded investment, end of period: Individually evaluated for impairment $ 11,883 $ — $ 25,848,675 $ 16,763 $ 25,877,321 Collectively evaluated for impairment 6,056,998 665,794 — — 6,722,792 Total $ 6,068,881 $ 665,794 $ 25,848,675 $ 16,763 $ 32,600,113 1 The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. Table 6.2 presents a roll-forward of the allowance for credit losses for the three months ended March 31, 2016 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 March 31, 2016 (in thousands): Table 6.2 03/31/2016 Conventional Loans Government Loans Credit Products 1 Direct Financing Lease Receivable Total Allowance for credit losses: Balance, beginning of three-month period $ 1,972 $ — $ — $ — $ 1,972 Net (charge-offs) recoveries (108 ) — — — (108 ) (Reversal) provision for credit losses (257 ) — — — (257 ) Balance, end of three-month period $ 1,607 $ — $ — $ — $ 1,607 Allowance for credit losses, end of period: Individually evaluated for impairment $ — $ — $ — $ — $ — Collectively evaluated for impairment 1,607 — — — 1,607 Recorded investment, end of period: Individually evaluated for impairment $ 12,204 $ — $ 25,460,813 $ 19,189 $ 25,492,206 Collectively evaluated for impairment 5,786,733 643,747 — — 6,430,480 Total $ 5,798,937 $ 643,747 $ 25,460,813 $ 19,189 $ 31,922,686 1 The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. 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 March 31, 2017 (dollar amounts in thousands): Table 6.3 03/31/2017 Conventional Loans Government Loans Credit Products 1 Direct Financing Lease Receivable Total Recorded investment: Past due 30-59 days delinquent $ 36,450 $ 17,008 $ — $ — $ 53,458 Past due 60-89 days delinquent 7,440 4,534 — — 11,974 Past due 90 days or more delinquent 11,798 5,728 — — 17,526 Total past due 55,688 27,270 — — 82,958 Total current loans 6,013,193 638,524 25,848,675 16,763 32,517,155 Total recorded investment $ 6,068,881 $ 665,794 $ 25,848,675 $ 16,763 $ 32,600,113 Other delinquency statistics: In process of foreclosure, included above 2 $ 4,189 $ 1,676 $ — $ — $ 5,865 Serious delinquency rate 3 0.2 % 0.9 % — % — % 0.1 % Past due 90 days or more and still accruing interest $ — $ 5,728 $ — $ — $ 5,728 Loans on non-accrual status 4 $ 15,323 $ — $ — $ — $ 15,323 1 The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. 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 $1,299,000 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 all of the FHLBank’s portfolio segments as of December 31, 2016 (dollar amounts in thousands): Table 6.4 12/31/2016 Conventional Loans Government Loans Credit Products 1 Direct Financing Lease Receivable Total Recorded investment: Past due 30-59 days delinquent $ 40,290 $ 16,920 $ — $ — $ 57,210 Past due 60-89 days delinquent 7,982 6,383 — — 14,365 Past due 90 days or more delinquent 11,970 5,185 — — 17,155 Total past due 60,242 28,488 — — 88,730 Total current loans 5,962,533 622,856 24,009,010 17,385 30,611,784 Total recorded investment $ 6,022,775 $ 651,344 $ 24,009,010 $ 17,385 $ 30,700,514 Other delinquency statistics: In process of foreclosure, included above 2 $ 4,408 $ 1,748 $ — $ — $ 6,156 Serious delinquency rate 3 0.2 % 0.8 % — % — % 0.1 % Past due 90 days or more and still accruing interest $ — $ 5,185 $ — $ — $ 5,185 Loans on non-accrual status 4 $ 15,002 $ — $ — $ — $ 15,002 1 The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. 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 $1,327,000 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. Individually Evaluated Impaired Loans: Table 6.5 presents the recorded investment, UPB, and related allowance of impaired conventional mortgage loans individually assessed for impairment as of March 31, 2017 and December 31, 2016 (in thousands): Table 6.5 03/31/2017 12/31/2016 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance $ 11,883 $ 11,805 $ — $ 11,834 $ 11,776 $ — With an allowance — — — — — — TOTAL $ 11,883 $ 11,805 $ — $ 11,834 $ 11,776 $ — Table 6.6 presents the average recorded investment and related interest income recognized on these individually evaluated impaired loans during the three months ended March 31, 2017 and 2016 (in thousands): Table 6.6 Three Months Ended 03/31/2017 03/31/2016 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance $ 11,652 $ 74 $ 11,322 $ 82 With an allowance — — — — TOTAL $ 11,652 $ 74 $ 11,322 $ 82 The FHLBank had $2,544,000 and $2,608,000 classified as real estate owned (REO) recorded in other assets as of March 31, 2017 and December 31, 2016 , respectively. |
Derivatives And Hedging Activit
Derivatives And Hedging Activities | 3 Months Ended |
Mar. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives And Hedging Activities | DERIVATIVES AND HEDGING ACTIVITIES Table 7.1 presents outstanding notional amounts and fair values (excluding fair value adjustments related to variation margin on daily settled contracts) of the derivatives outstanding by type of derivative and by hedge designation as of March 31, 2017 and December 31, 2016 (in thousands). Total derivative assets and liabilities include the effect of netting adjustments, cash collateral, and variation margin for daily settled contracts. Table 7.1 03/31/2017 12/31/2016 Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities Derivatives designated as hedging instruments: Interest rate swaps $ 7,726,660 $ 75,578 $ 47,825 $ 7,896,110 $ 70,683 $ 65,471 Total derivatives designated as hedging relationships 7,726,660 75,578 47,825 7,896,110 70,683 65,471 Derivatives not designated as hedging instruments: Interest rate swaps 2,087,163 1,462 33,103 2,022,630 649 40,824 Interest rate caps/floors 2,487,400 3,252 — 2,765,200 4,859 — Mortgage delivery commitments 116,453 367 62 90,013 214 372 Total derivatives not designated as hedging instruments 4,691,016 5,081 33,165 4,877,843 5,722 41,196 TOTAL $ 12,417,676 80,659 80,990 $ 12,773,953 76,405 106,667 Netting adjustments, cash collateral, and variation margin for daily settled contracts 1 (28,661 ) (78,325 ) (15,505 ) (99,496 ) DERIVATIVE ASSETS AND LIABILITIES $ 51,998 $ 2,665 $ 60,900 $ 7,171 1 Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions as well as cash collateral, including initial or variation margin, and related accrued interest held or placed with the same clearing agent and/or derivative counterparty, and includes fair value adjustments on derivatives for which variation margin is characterized as a daily settled contract. Cash collateral posted was $84,732,000 and $105,481,000 as of March 31, 2017 and December 31, 2016 , respectively. Cash collateral received was $24,776,000 and $21,490,000 as of March 31, 2017 and December 31, 2016 , respectively. Variation margin for daily settled contracts was $(10,292,000) as of March 31, 2017. 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 months ended March 31, 2017 and 2016 , 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 03/31/2017 03/31/2016 Derivatives designated as hedging instruments: Interest rate swaps $ (1,330 ) $ (2,490 ) Total net gain (loss) related to fair value hedge ineffectiveness (1,330 ) (2,490 ) Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps 8,248 (43,208 ) Interest rate caps/floors (1,608 ) (2,093 ) Net interest settlements (5,183 ) (12,244 ) Mortgage delivery commitments 490 1,549 Total net gain (loss) related to derivatives not designated as hedging instruments 1,947 (55,996 ) Other 1 (14 ) — NET GAIN (LOSS) ON DERIVATIVES AND HEDGING ACTIVITIES $ 603 $ (58,486 ) 1 Amount represents price alignment amount on derivatives for which variation margin is characterized as a daily settled contract. 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 March 31, 2017 and 2016 , 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 03/31/2017 03/31/2016 Gain (Loss) on Derivatives Gain (Loss) on Hedged Items Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income 1 Gain (Loss) on Derivatives Gain (Loss) on Hedged Items Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income 1 Advances $ 18,116 $ (18,228 ) $ (112 ) $ (16,491 ) $ (55,659 ) $ 55,225 $ (434 ) $ (25,434 ) Investments 3,266 (3,813 ) (547 ) (2,715 ) (22,815 ) 21,462 (1,353 ) (2,337 ) Consolidated obligation bonds (4,220 ) 3,585 (635 ) 5,519 6,737 (7,153 ) (416 ) 11,547 Consolidated obligation discount notes 16 (52 ) (36 ) (15 ) 84 (371 ) (287 ) (60 ) TOTAL $ 17,178 $ (18,508 ) $ (1,330 ) $ (13,702 ) $ (71,653 ) $ 69,163 $ (2,490 ) $ (16,284 ) 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 $22,816,000 and $21,112,000 as of March 31, 2017 and December 31, 2016 , respectively. The counterparty was the same for both periods . Certain of the FHLBank’s uncleared 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 a Nationally Recognized Statistical Rating Organization (NRSRO) , the FHLBank may be required to deliver additional collateral on uncleared derivative instruments in net liability positions. The aggregate fair value of all uncleared 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 March 31, 2017 and December 31, 2016 was $899,000 and $4,779,000 , respectively, for which the FHLBank has posted no collateral. If the FHLBank’s credit rating had been lowered one level (e.g., from double-A to single-A), the FHLBank would not have been required to deliver additional collateral to its uncleared derivative counterparties as of March 31, 2017 and December 31, 2016 , respectively. The FHLBank utilizes two Clearinghouses for all cleared derivative transactions, LCH.Clearnet LLC and CME Clearing. Effective January 3, 2017, CME Clearing made certain amendments to its rulebook changing the legal characterization of variation margin payments to represent daily settlement payments rather than collateral. Variation margin related to LCH.Clearnet LLC contracts continues to be characterized as cash collateral. At both Clearinghouses, initial margin is considered cash collateral. 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 March 31, 2017 and December 31, 2016 . The FHLBank’s net exposure on derivative agreements is presented in Note 10 . |
Deposits
Deposits | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 and December 31, 2016 (in thousands): Table 8.1 03/31/2017 12/31/2016 Interest-bearing: Demand $ 231,071 $ 269,341 Overnight 307,100 278,200 Total interest-bearing 538,171 547,541 Non-interest-bearing: Demand 41,634 51,390 Total non-interest-bearing 41,634 51,390 TOTAL DEPOSITS $ 579,805 $ 598,931 |
Consolidated Obligations
Consolidated Obligations | 3 Months Ended |
Mar. 31, 2017 | |
Debt Disclosure [Abstract] | |
Consolidated Obligations | CONSOLIDATED OBLIGATIONS Consolidated Obligation Bonds: Table 9.1 presents the FHLBank’s participation in consolidated obligation bonds outstanding as of March 31, 2017 and December 31, 2016 (dollar amounts in thousands): Table 9.1 03/31/2017 12/31/2016 Year of Contractual Maturity Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Due in one year or less $ 11,375,135 1.02 % $ 11,001,615 0.92 % Due after one year through two years 2,871,690 1.40 2,460,440 1.46 Due after two years through three years 1,092,300 1.54 1,190,750 1.51 Due after three years through four years 1,086,050 1.55 739,600 1.56 Due after four years through five years 979,600 1.68 1,215,600 1.60 Thereafter 4,246,400 2.44 4,088,400 2.39 Total par value 21,651,175 1.43 % 20,696,405 1.37 % Premiums 23,862 26,812 Discounts (2,293 ) (2,342 ) Concession fees (9,712 ) (9,441 ) Hedging adjustments 7,316 10,901 TOTAL $ 21,670,348 $ 20,722,335 The FHLBank’s participation in consolidated obligation bonds outstanding as of March 31, 2017 and December 31, 2016 includes callable bonds totaling $6,522,000,000 and $6,097,000,000 , respectively. The FHLBank uses the unswapped callable bonds for financing its callable fixed rate advances (Note 4 ), MBS (Note 3 ) and mortgage loans (Note 5 ). Contemporaneous with a portion of its fixed rate callable bond issuances, the FHLBank also enters 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 March 31, 2017 and December 31, 2016 (in thousands): Table 9.2 Year of Maturity or Next Call Date 03/31/2017 12/31/2016 Due in one year or less $ 17,430,135 $ 16,581,615 Due after one year through two years 2,516,690 2,275,440 Due after two years through three years 626,300 694,750 Due after three years through four years 366,050 389,600 Due after four years through five years 219,600 190,600 Thereafter 492,400 564,400 TOTAL PAR VALUE $ 21,651,175 $ 20,696,405 Table 9.3 summarizes interest rate payment terms for consolidated obligation bonds as of March 31, 2017 and December 31, 2016 (in thousands): Table 9.3 03/31/2017 12/31/2016 Simple variable rate $ 10,287,000 $ 9,537,000 Fixed rate 10,224,175 10,164,405 Fixed to variable rate 610,000 545,000 Step 490,000 420,000 Range 40,000 30,000 TOTAL PAR VALUE $ 21,651,175 $ 20,696,405 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 (dollar amounts in thousands): Table 9.4 Book Value Par Value Weighted Average Interest Rate 1 March 31, 2017 $ 22,505,730 $ 22,522,432 0.66 % December 31, 2016 $ 21,775,341 $ 21,784,924 0.47 % 1 Represents yield to maturity excluding concession fees. |
Assets and Liabilities Subject
Assets and Liabilities Subject to Offsetting | 3 Months Ended |
Mar. 31, 2017 | |
Offsetting [Abstract] | |
Assets and Liabilities Subject to Offsetting | 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 certain variation margin, received or pledged, and associated accrued interest. Tables 10.1 and 10.2 present the fair value of financial assets, including the related collateral received from or pledged to clearing agents or counterparties and variation margin for daily settled contracts, based on the terms of the FHLBank’s master netting arrangements or similar agreements as of March 31, 2017 and December 31, 2016 (in thousands): Table 10.1 03/31/2017 Description Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Condition 1 Net Amounts of Assets Presented in the Statement of Condition Gross Amounts Not Offset in the Statement of Condition 2 Net Amount Derivative assets: Uncleared derivatives $ 53,590 $ (44,574 ) $ 9,016 $ (367 ) $ 8,649 Cleared derivatives 3 27,069 15,913 42,982 — 42,982 Total derivative assets 80,659 (28,661 ) 51,998 (367 ) 51,631 Securities purchased under agreements to resell 2,500,000 — 2,500,000 (2,500,000 ) — TOTAL $ 2,580,659 $ (28,661 ) $ 2,551,998 $ (2,500,367 ) $ 51,631 1 Represents netting adjustments, cash collateral, and variation margin for daily settled contracts. 2 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). 3 Variation margin for daily settled contracts of $(10,292,000) is included with gross amounts offset in the Statement of Condition. Table 10.2 12/31/2016 Description Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Condition Net Amounts of Assets Presented in the Statement of Condition Gross Amounts Not Offset in the Statement of Condition 1 Net Amount Derivative assets: Uncleared derivatives $ 51,765 $ (39,540 ) $ 12,225 $ (214 ) $ 12,011 Cleared derivatives 24,640 24,035 48,675 — 48,675 Total derivative assets 76,405 (15,505 ) 60,900 (214 ) 60,686 Securities purchased under agreements to resell 2,400,000 — 2,400,000 (2,400,000 ) — TOTAL $ 2,476,405 $ (15,505 ) $ 2,460,900 $ (2,400,214 ) $ 60,686 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 10.3 and 10.4 present the fair value of financial liabilities, including the related collateral received from or pledged to counterparties and variation margin for daily settled contracts, based on the terms of the FHLBank’s master netting arrangements or similar agreements as of March 31, 2017 and December 31, 2016 (in thousands): Table 10.3 03/31/2017 Description Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Condition 1 Net Amounts of Liabilities Presented in the Statement of Condition Gross Amounts Not Offset in the Statement of Condition 2 Net Amount Derivative liabilities: Uncleared derivatives $ 56,020 $ (53,735 ) $ 2,285 $ (62 ) $ 2,223 Cleared derivatives 24,970 (24,590 ) 380 — 380 Total derivative liabilities 80,990 (78,325 ) 2,665 (62 ) 2,603 TOTAL $ 80,990 $ (78,325 ) $ 2,665 $ (62 ) $ 2,603 1 Represents netting adjustments and cash collateral. 2 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 10.4 12/31/2016 Description Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Condition Net Amounts of Liabilities Presented in the Statement of Condition Gross Amounts Not Offset in the Statement of Condition 1 Net Amount Derivative liabilities: Uncleared derivatives $ 72,039 $ (64,868 ) $ 7,171 $ (372 ) $ 6,799 Cleared derivatives 34,628 (34,628 ) — — — Total derivative liabilities 106,667 (99,496 ) 7,171 (372 ) 6,799 TOTAL $ 106,667 $ (99,496 ) $ 7,171 $ (372 ) $ 6,799 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 | 3 Months Ended |
Mar. 31, 2017 | |
Stockholders' Equity Note [Abstract] | |
Capital | CAPITAL Capital Requirements: The FHLBank is subject to three capital requirements under the provisions of the Gramm-Leach-Bliley Act (GLB Act) and the Federal Housing Finance Agency's (Finance Agency) capital structure regulation. Regulatory capital does not include AOCI but does include mandatorily redeemable capital stock. • Risk-based capital. The FHLBank must maintain at all times permanent capital in an amount at least equal to the sum of its credit risk, market risk and operations risk capital requirements. The risk-based capital requirements are all calculated in accordance with the rules and regulations of the Finance Agency. Only permanent capital, defined as Class B Common Stock and retained earnings, can be used by the FHLBank to satisfy its risk-based capital requirement. The Finance Agency may require the FHLBank to maintain a greater amount of permanent capital than is required by the risk-based capital requirement as defined, but the Finance Agency has not placed any such requirement on the FHLBank to date. • Total regulatory capital. The GLB Act requires the FHLBank to maintain at all times at least a 4.0 percent total capital-to-asset ratio. Total regulatory capital is defined as the sum of permanent capital, Class A 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 11.1 illustrates that the FHLBank was in compliance with its regulatory capital requirements as of March 31, 2017 and December 31, 2016 (dollar amounts in thousands): Table 11.1 03/31/2017 12/31/2016 Required Actual Required Actual Regulatory capital requirements: Risk-based capital $ 336,896 $ 1,946,691 $ 333,044 $ 1,800,372 Total regulatory capital-to-asset ratio 4.0 % 4.5 % 4.0 % 4.3 % Total regulatory capital $ 1,883,645 $ 2,122,165 $ 1,808,670 $ 1,964,541 Leverage capital ratio 5.0 % 6.6 % 5.0 % 6.3 % Leverage capital $ 2,354,557 $ 3,095,510 $ 2,260,837 $ 2,864,727 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 11.2 presents a roll-forward of mandatorily redeemable capital stock for the three months ended March 31, 2017 and 2016 (in thousands): Table 11.2 Three Months Ended 03/31/2017 03/31/2016 Balance, beginning of period $ 2,670 $ 2,739 Capital stock subject to mandatory redemption reclassified from equity during the period 173,395 160,234 Redemption or repurchase of mandatorily redeemable capital stock during the period (173,814 ) (159,546 ) Stock dividend classified as mandatorily redeemable capital stock during the period 13 6 Balance, end of period $ 2,264 $ 3,433 Table 11.3 shows the amount of mandatorily redeemable capital stock by contractual year of redemption as of March 31, 2017 and December 31, 2016 (in thousands). The year of redemption in Table 11.3 is the end of the redemption period in accordance with the FHLBank’s capital plan. The FHLBank is not required to redeem or repurchase membership stock until six months (for Class A Common Stock) or five 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 11.3 Contractual Year of Repurchase 03/31/2017 12/31/2016 Year 1 $ 1 $ 192 Year 2 1 1 Year 3 — — Year 4 — — Year 5 543 641 Past contractual redemption date due to remaining activity 1 1,719 1,836 TOTAL $ 2,264 $ 2,670 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 March 31, 2017 , 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 for the fourth quarter of 2016 , the FHLBank has been classified as adequately capitalized . |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income | ACCUMULATED OTHER COMPREHENSIVE INCOME Table 12.1 summarizes the changes in AOCI for the three months ended March 31, 2017 and 2016 (in thousands): Table 12.1 Net Unrealized Gain (Loss) on Available-for-Sale Securities (Note 3) Net Non-credit Portion of OTTI Losses on Held-to-maturity Securities (Note 3) Defined Benefit Pension Plan Total AOCI Balance at December 31, 2015 $ (8,577 ) $ (7,950 ) $ (2,450 ) $ (18,977 ) Other comprehensive income (loss) before reclassification: Unrealized gain (loss) 4,742 4,742 Non-credit OTTI losses (62 ) (62 ) Accretion of non-credit loss 550 550 Reclassifications from other comprehensive income (loss) to net income: Non-credit OTTI to credit OTTI 1 25 25 Amortization of net loss - defined benefit pension plan 2 47 47 Net current period other comprehensive income (loss) 4,742 513 47 5,302 Balance at March 31, 2016 $ (3,835 ) $ (7,437 ) $ (2,403 ) $ (13,675 ) Balance at December 31, 2016 $ 9,345 $ (5,841 ) $ (2,927 ) $ 577 Other comprehensive income (loss) before reclassification: Unrealized gain (loss) 8,485 8,485 Non-credit OTTI losses (4 ) (4 ) Accretion of non-credit loss 376 376 Reclassifications from other comprehensive income (loss) to net income: Non-credit OTTI to credit OTTI 1 37 37 Amortization of net loss - defined benefit pension plan 2 57 57 Net current period other comprehensive income (loss) 8,485 409 57 8,951 Balance at March 31, 2017 $ 17,830 $ (5,432 ) $ (2,870 ) $ 9,528 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 | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 and December 31, 2016 . Subjectivity of Estimates: Estimates of the fair value of advances with options, mortgage instruments, derivatives with embedded options and consolidated obligation bonds with options 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, available-for-sale securities, derivative assets and derivative liabilities at fair value on a recurring basis and on occasion, certain private-label MBS, impaired mortgage loans held for portfolio 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. There were no reclassifications of assets or liabilities recorded at fair value on a recurring basis during the three months ended March 31, 2017 and 2016 . The carrying value and fair value of the FHLBank’s financial assets and liabilities as of March 31, 2017 and December 31, 2016 are summarized in Tables 13.1 and 13.2 (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 13.1 03/31/2017 Carrying Value Total Fair Value Level 1 Level 2 Level 3 Netting Adjustment and Cash Collateral 1 Assets: Cash and due from banks $ 108,492 $ 108,492 $ 108,492 $ — $ — $ — Interest-bearing deposits 401,161 401,161 — 401,161 — — Securities purchased under agreements to resell 2,500,000 2,500,000 — 2,500,000 — — Federal funds sold 2,705,000 2,705,000 — 2,705,000 — — Trading securities 2,702,316 2,702,316 — 2,702,316 — — Available-for-sale securities 1,124,924 1,124,924 — 1,124,924 — — Held-to-maturity securities 4,852,742 4,844,888 — 4,655,391 189,497 — Advances 25,822,945 25,866,229 — 25,866,229 — — Mortgage loans held for portfolio, net of allowance 6,700,948 6,815,907 — 6,814,144 1,763 — Accrued interest receivable 72,569 72,569 — 72,569 — — Derivative assets 51,998 51,998 — 80,659 — (28,661 ) Liabilities: Deposits 579,805 579,805 — 579,805 — — Consolidated obligation discount notes 22,505,730 22,504,048 — 22,504,048 — — Consolidated obligation bonds 21,670,348 21,547,096 — 21,547,096 — — Mandatorily redeemable capital stock 2,264 2,264 2,264 — — — Accrued interest payable 60,887 60,887 — 60,887 — — Derivative liabilities 2,665 2,665 — 80,990 — (78,325 ) Other Asset (Liability): Standby letters of credit (1,061 ) (1,061 ) — (1,061 ) — — Standby bond purchase agreements (32 ) 5,037 — 5,037 — — Advance commitments — (5,690 ) — (5,690 ) — — 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, related accrued interest held or placed with the same clearing agent or derivative counterparty, and variation margin for daily settled contracts . Variation margin for daily settled contracts of $(10,292,000) is included with derivative assets. Table 13.2 12/31/2016 Carrying Value Total Fair Value Level 1 Level 2 Level 3 Netting Adjustment and Cash Collateral 1 Assets: Cash and due from banks $ 207,254 $ 207,254 $ 207,254 $ — $ — $ — Interest-bearing deposits 387,920 387,920 — 387,920 — — Securities purchased under agreements to resell 2,400,000 2,400,000 — 2,400,000 — — Federal funds sold 2,725,000 2,725,000 — 2,725,000 — — Trading securities 2,502,788 2,502,788 — 2,502,788 — — Available-for-sale securities 1,091,721 1,091,721 — 1,091,721 — — Held-to-maturity securities 4,502,224 4,487,252 — 4,276,650 210,602 — Advances 23,985,835 24,016,686 — 24,016,686 — — Mortgage loans held for portfolio, net of allowance 6,640,725 6,754,046 — 6,752,849 1,197 — Overnight loans to other FHLBanks 600,000 600,000 — 600,000 — — Accrued interest receivable 68,400 68,400 — 68,400 — — Derivative assets 60,900 60,900 — 76,405 — (15,505 ) Liabilities: Deposits 598,931 598,931 — 598,931 — — Consolidated obligation discount notes 21,775,341 21,774,950 — 21,774,950 — — Consolidated obligation bonds 20,722,335 20,568,653 — 20,568,653 — — Mandatorily redeemable capital stock 2,670 2,670 2,670 — — — Accrued interest payable 49,808 49,808 — 49,808 — — Derivative liabilities 7,171 7,171 — 106,667 — (99,496 ) Other Asset (Liability): Standby letters of credit (1,151 ) (1,151 ) — (1,151 ) — — Standby bond purchase agreements 6 6,016 — 6,016 — — Advance commitments — (6,241 ) — (6,241 ) — — 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. Fair Value Measurements: Tables 13.3 and 13.4 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 or for the periods ended March 31, 2017 and December 31, 2016 (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 during a period 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. The FHLBank measures certain impaired mortgage loans held for portfolio at fair value on a nonrecurring basis when, upon individual evaluation for impairment, the estimated fair value less costs to sell is lower than the recorded investment. REO is measured at fair value when the asset’s fair value less costs to sell is lower than its carrying amount. Table 13.3 03/31/2017 Total Level 1 Level 2 Level 3 Netting Adjustment and Cash Collateral 1 Recurring fair value measurements - Assets: Trading securities: Certificates of deposit $ 200,006 $ — $ 200,006 $ — $ — GSE obligations 2 $ 1,564,310 $ — $ 1,564,310 $ — $ — U.S. obligation MBS 3 665 — 665 — — GSE MBS 4 937,335 — 937,335 — — Total trading securities 2,702,316 — 2,702,316 — — Available-for-sale securities: GSE MBS 5 1,124,924 — 1,124,924 — — Total available-for-sale securities 1,124,924 — 1,124,924 — — Derivative assets: Interest-rate related 51,631 — 80,292 — (28,661 ) Mortgage delivery commitments 367 — 367 — — Total derivative assets 51,998 — 80,659 — (28,661 ) TOTAL RECURRING FAIR VALUE MEASUREMENTS - ASSETS $ 3,879,238 $ — $ 3,907,899 $ — $ (28,661 ) Recurring fair value measurements - Liabilities: Derivative liabilities: Interest-rate related $ 2,603 $ — $ 80,928 $ — $ (78,325 ) Mortgage delivery commitments 62 — 62 — — Total derivative liabilities 2,665 — 80,990 — (78,325 ) TOTAL RECURRING FAIR VALUE MEASUREMENTS - LIABILITIES $ 2,665 $ — $ 80,990 $ — $ (78,325 ) Nonrecurring fair value measurements - Assets 6 : Held-to-maturity securities: Private-label residential MBS $ 631 $ — $ — $ 631 $ — Impaired mortgage loans 1,769 — — 1,769 — Real estate owned 471 — — 471 — TOTAL NONRECURRING FAIR VALUE MEASUREMENTS - ASSETS $ 2,871 $ — $ — $ 2,871 $ — 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, related accrued interest held or placed with the same clearing agent or derivative counterparty, and variation margin for daily settled contracts . 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. 3 Represents single-family 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. 5 Represents multi-family MBS issued by Fannie Mae. 6 Includes assets adjusted to fair value during the three months ended March 31, 2017 and still outstanding as of March 31, 2017 . Table 13.4 12/31/2016 Total Level 1 Level 2 Level 3 Netting Adjustment and Cash Collateral 1 Recurring fair value measurements - Assets: Trading securities: GSE obligations 2 $ 1,563,351 $ — $ 1,563,351 $ — $ — U.S. obligation MBS 3 690 — 690 — — GSE MBS 4 938,747 — 938,747 — — Total trading securities 2,502,788 — 2,502,788 — — Available-for-sale securities: GSE MBS 5 1,091,721 — 1,091,721 — — Total available-for-sale securities 1,091,721 — 1,091,721 — — Derivative assets: Interest-rate related 60,686 — 76,191 — (15,505 ) Mortgage delivery commitments 214 — 214 — — Total derivative assets 60,900 — 76,405 — (15,505 ) TOTAL RECURRING FAIR VALUE MEASUREMENTS - ASSETS $ 3,655,409 $ — $ 3,670,914 $ — $ (15,505 ) Recurring fair value measurements - Liabilities: Derivative liabilities: Interest-rate related $ 6,799 $ — $ 106,295 $ — $ (99,496 ) Mortgage delivery commitments 372 — 372 — — Total derivative liabilities 7,171 — 106,667 — (99,496 ) TOTAL RECURRING FAIR VALUE MEASUREMENTS - LIABILITIES $ 7,171 $ — $ 106,667 $ — $ (99,496 ) Nonrecurring fair value measurements - Assets 6 : Held-to-maturity securities: Private-label residential MBS $ 4,781 $ — $ — $ 4,781 $ — Impaired mortgage loans 1,205 $ 1,205 Real estate owned 1,086 — — 1,086 — TOTAL NONRECURRING FAIR VALUE MEASUREMENTS - ASSETS $ 7,072 $ — $ — $ 7,072 $ — 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 and Farm Credit. GSE securities are not guaranteed by the U.S. government. 3 Represents single-family 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. 5 Represents multi-family MBS issued by Fannie Mae. 6 Includes assets adjusted to fair value during the year ended December 31, 2016 and still outstanding as of December 31, 2016 . |
Commitments And Contingencies
Commitments And Contingencies | 3 Months Ended |
Mar. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES Joint and Several Liability: As provided by the Federal Home Loan Bank Act of 1932, as amended (Bank Act) or Finance Agency regulation, consolidated obligations are backed only by the financial resources of the FHLBanks. FHLBank Topeka is jointly and severally liable with the other 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 $915,106,348,000 and $946,829,735,000 as of March 31, 2017 and December 31, 2016 , respectively. Off-balance Sheet Commitments: As of March 31, 2017 and December 31, 2016 , off-balance sheet commitments are presented in Table 14.1 (in thousands): Table 14.1 03/31/2017 12/31/2016 Notional Amount Expire Within One Year Expire After One Year Total Expire Within One Year Expire After One Year Total Standby letters of credit outstanding $ 3,208,195 $ 15,656 $ 3,223,851 $ 2,995,497 $ 12,823 $ 3,008,320 Advance commitments outstanding 80,475 15,000 95,475 37,950 45,025 82,975 Commitments for standby bond purchases 413,922 780,074 1,193,996 210,349 1,002,669 1,213,018 Commitments to fund or purchase mortgage loans 116,453 — 116,453 90,013 — 90,013 Commitments to issue consolidated bonds, at par 72,500 — 72,500 45,000 — 45,000 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 March 31, 2017 , outstanding standby letters of credit had terms to maturity upon issuance of the currently outstanding standby letters of credit of 4 days to 10 years with a final expiration in 2020 . As of December 31, 2016 , outstanding standby letters of credit had terms to maturity upon issuance of the currently outstanding standby letters of credit 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 $1,061,000 and $1,151,000 as of March 31, 2017 and December 31, 2016 , respectively. Standby letters of credit are fully collateralized with assets allowed by the FHLBank’s Member Products Policy (MPP) . 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 outstanding letters of credit 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 2020 , though some are renewable at the option of the FHLBank. As of March 31, 2017 and December 31, 2016 , the total commitments for bond purchases were with two in-district and one out-of-district state housing authorities. The FHLBank was not required to purchase any bonds under any agreements during the three months ended March 31, 2017 and 2016 . Commitments to Purchase Mortgage Loans: These commitments that unconditionally obligate the FHLBank to 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 $305,000 and $(158,000) as of March 31, 2017 and December 31, 2016 , respectively. Commitments to Issue Consolidated Obligations: The FHLBank enters into commitments to issue consolidated obligation bonds and discount notes outstanding in the normal course of its business. All settle within the shortest period possible and are considered regular way trades; thus, the commitments are appropriately not recorded as derivatives. |
Transactions With Stockholders
Transactions With Stockholders | 3 Months Ended |
Mar. 31, 2017 | |
Federal Home Loan Banks [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 15.1 and 15.2 present information as of March 31, 2017 and December 31, 2016 on members that owned more than 10 percent of outstanding FHLBank regulatory capital stock in 2017 or 2016 (dollar amounts in thousands). None of the officers or directors of these members currently serve on the FHLBank’s board of directors. Table 15.1 03/31/2017 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 0.3 % $ 257,369 21.8 % $ 257,869 19.0 % Bank of Oklahoma, NA OK 500 0.3 246,694 20.9 247,194 18.2 TOTAL $ 1,000 0.6 % $ 504,063 42.7 % $ 505,063 37.2 % Table 15.2 12/31/2016 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 Bank of Oklahoma, NA OK $ 500 0.3 % $ 219,755 20.6 % $ 220,255 17.9 % MidFirst Bank OK 500 0.3 197,669 18.6 198,169 16.1 TOTAL $ 1,000 0.6 % $ 417,424 39.2 % $ 418,424 34.0 % Advance and deposit balances with members that owned more than 10 percent of outstanding FHLBank regulatory capital stock as of March 31, 2017 and December 31, 2016 are summarized in Table 15.3 (dollar amounts in thousands). Table 15.3 03/31/2017 12/31/2016 03/31/2017 12/31/2016 Member Name Outstanding Advances Percent of Total Outstanding Advances Percent of Total Outstanding Deposits Percent of Total Outstanding Deposits Percent of Total MidFirst Bank $ 5,600,000 21.7 % $ 4,340,000 18.1 % $ 245 — % $ 424 0.1 % Bank of Oklahoma, NA 5,200,000 20.1 4,800,000 20.0 8,816 1.5 54,145 9.1 TOTAL $ 10,800,000 41.8 % $ 9,140,000 38.1 % $ 9,061 1.5 % $ 54,569 9.2 % MidFirst Bank and Bank of Oklahoma, NA did no t sell any mortgage loans into the MPF Program during the three months ended March 31, 2017 and 2016 . Transactions with FHLBank Directors’ Financial Institutions: Table 15.4 presents information as of March 31, 2017 and December 31, 2016 for members that had an officer or director serving on the FHLBank’s board of directors (dollar 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 15.4 03/31/2017 12/31/2016 Outstanding Amount Percent of Total Outstanding Amount Percent of Total Advances $ 152,607 0.6 % $ 172,793 0.7 % Deposits $ 12,542 2.2 % $ 12,329 2.1 % Class A Common Stock $ 4,251 2.4 % $ 3,782 2.3 % Class B Common Stock 4,744 0.4 5,585 0.5 TOTAL CAPITAL STOCK $ 8,995 0.7 % $ 9,367 0.8 % Table 15.5 presents mortgage loans acquired during the three months ended March 31, 2017 and 2016 for members that had an officer or director serving on the FHLBank’s board of directors in 2017 or 2016 (dollar amounts in thousands). Information is only included for the period in which the officer or director served on the FHLBank’s board of directors. Table 15.5 Three Months Ended 03/31/2017 03/31/2016 Amount Percent of Total Amount Percent of Total Mortgage loans acquired $ 28,866 10.0 % $ 12,101 5.5 % |
Basis of Presentation (Policy)
Basis of Presentation (Policy) | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation, Policy | Basis of Presentation: The accompanying interim financial statements of the Federal Home Loan Bank of Topeka (FHLBank or FHLBank Topeka) 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, 2016 . 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 9, 2017 (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, Policy | 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 and available-for-sale securities, the fair value of derivatives 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. |
Derivatives, Policy [Policy Text Block] | Derivatives: All derivatives are recognized on the Statements of Condition at their fair values (including net accrued interest receivable or payable on the derivatives) and are reported as either derivative assets or derivative liabilities, net of cash collateral, including initial and variation margin, and accrued interest received or pledged by clearing agents and/or counterparties. The fair values of derivatives are netted by clearing agent or counterparty when the netting requirements have been met. If these netted amounts are positive, they are classified as an asset and, if negative, they are classified as a liability. Cash flows associated with derivatives are reflected as cash flows from operating activities in the Statements of Cash Flows unless the derivative meets the criteria to be a financing derivative. The FHLBank utilizes two Derivative Clearing Organizations (Clearinghouses) for all cleared derivative transactions, LCH.Clearnet LLC and CME Clearing. Effective January 3, 2017, CME Clearing made certain amendments to its rulebook changing the legal characterization of variation margin payments to be daily settlement payments rather than collateral. Variation margin payments related to LCH.Clearnet LLC contracts continue to be characterized as cash collateral. At both Clearinghouses, initial margin is considered cash collateral. |
New Accounting Pronouncements, Policy | Premium Amortization on Purchased Callable Debt Securities. In March 2017, Financial Accounting Standards Board (FASB) issued an amendment to shorten the amortization period of any premium on callable debt securities to the first call date instead of over the contractual life of the instrument. The amendment does not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The guidance is intended to reduce diversity in practice in the amortization of premiums and the consideration of how the potential of a security being called is factored into current impairment assessments. The amendment also intends to more closely align the amortization of premiums and discounts to the expectations incorporated into the market pricing of the instrument. The amendment will be effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018, which is January 1, 2019 for the FHLBank, and early adoption is permitted. This guidance should be applied using a modified retrospective method through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The adoption of this guidance is not expected to have a material effect on the FHLBank's financial condition, results of operations or cash flows. Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. In March 2017, FASB issued an amendment to improve the presentation of net periodic pension cost and net periodic postretirement benefit cost. The amendment requires that the employer disaggregate the service cost component and the other components of net benefit cost and allow only the service cost component of net benefit cost to be eligible for capitalization. The amendment is intended to provide transparency, consistency, and usefulness to users of financial statements. The amendment will be effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017, which is January 1, 2018 for the FHLBank, and early adoption is permitted. This guidance should be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit in assets. The adoption of this guidance is not expected to have a material effect on the FHLBank's financial condition, results of operations or cash flows. Classification of Certain Cash Receipts and Cash Payments. In August 2016, FASB issued amendments to clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. This guidance is intended to reduce existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This guidance is effective for the FHLBank for interim and annual periods beginning on January 1, 2018, and early adoption is permitted. This guidance should be applied using a retrospective transition method to each period presented. This guidance is not expected to have a material impact on the FHLBank's statement of cash flows. Measurement of Credit Losses on Financial Instruments. In June 2016, FASB issued amended guidance for the accounting of credit losses on financial instruments. The amendments require entities to measure expected credit losses based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. Additionally, under the new guidance, a financial asset, or a group of financial assets, measured at amortized cost basis is required to be presented at the net amount expected to be collected. The guidance also requires: • The statement of income to reflect the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period; • The entities to determine the allowance for credit losses for purchased financial assets with a more-than-insignificant amount of credit deterioration since origination that are measured at amortized cost basis in a similar manner to other financial assets measured at amortized cost basis. The initial allowance for credit losses is required to be added to the purchase price; • Credit losses relating to available-for-sale debt securities to be recorded through an allowance for credit losses. The amendments limit the allowance for credit losses to the amount by which fair value is below amortized cost; and • Public entities to further disaggregate the current disclosure of credit quality indicators in relation to the amortized cost of financing receivables by the year of origination (i.e., vintage). The guidance is effective for the FHLBank for interim and annual periods beginning on January 1, 2020. Early application is permitted as of the interim and annual reporting periods beginning after December 15, 2018. The guidance should be applied using a modified-retrospective approach, through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. In addition, entities are required to use a prospective transition approach for debt securities for which an other-than-temporary impairment (OTTI) charge had been recognized before the effective date. The FHLBank is currently evaluating this guidance and has begun its implementation efforts by identifying key interpretive issues that will eventually determine the magnitude of the impact on the FHLBank's financial condition, results of operations and cash flows. Contingent Put and Call Options in Debt Instruments. In March 2016, FASB issued amendments to resolve current diversity in practice by clarifying the steps required when assessing whether the economic characteristics and risks of call (put) options are clearly and closely related to the economic characteristics and risks of their debt hosts, which is one of the criteria for bifurcating an embedded derivative. The amendments apply to all entities that are issuers of or investors in debt instruments (or hybrid financial instruments that are determined to have a debt host) with embedded call (put) options. The amendments became effective for annual periods, and interim periods within those annual periods, beginning on January 1, 2017. The adoption of this guidance had no effect on the FHLBank's financial condition, results of operations or cash flows. Leases. In February 2016, FASB issued amendments to lease accounting guidance. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use asset for all leases in the statement of financial condition, which effectively removes a source of off-balance sheet financing for operating leases. A distinction remains between finance leases and operating leases, but the assets and liabilities arising from operating leases are now also required to be recognized in the statement of financial condition. Lessor accounting is largely unchanged. The amendments are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018, which is January 1, 2019 for the FHLBank. The FHLBank has a limited number of lease agreements and is currently evaluating this guidance to determine the impact, if any, on the FHLBank's financial condition, results of operations or cash flows. Recognition and Measurement of Financial Assets and Financial Liabilities. In January 2016, FASB issued amendments to improve the recognition, measurement, presentation and disclosure of financial instruments through changes to existing GAAP. The provisions impacting the FHLBank include the elimination of the requirement to disclose the method and significant assumptions used to estimate the fair value of financial instruments carried at amortized cost, the requirement to use the notion of exit price when measuring the fair value of financial instruments for disclosure purposes, and the separate presentation of financial assets and financial liabilities by measurement category and form of asset (i.e., securities or loans and receivables) on the statement of financial condition or in the notes to financial statements. The amendments are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017, which is January 1, 2018 for the FHLBank. The FHLBank has concluded that this guidance will impact disclosures related to the fair value of financial instruments. However, the FHLBank is currently evaluating these amendments to determine the impact, if any, on the FHLBank's financial condition, results of operations or cash flows. Revenue Recognition. In May 2014, 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. In July 2015, FASB voted to defer the effective date of the new standard by one year. In addition, in March 2016, FASB issued amendments to clarify the implementation guidance on principal versus agent considerations, in particular, relating to how an entity should determine whether the entity is a principal or an agent for each specified good or service promised to the customer and the nature of each specified good or service. The amendments do not change the core principle in the new revenue standard. The standard is effective for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2017, which is January 1, 2018 for the FHLBank. Because the guidance does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other GAAP, the FHLBank does not expect the new guidance to have a material impact on its financial condition, results of operations or cash flows. |
Finance, Loan and Lease Receivables, Held-for-investment, Allowance and Nonperforming Loans, Allowance Policy | 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. |
Fair Value Transfer, Policy | 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. |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Trading Securities [Member] | |
Investment Holdings [Line Items] | |
Trading Securities by Major Security Type | Trading securities by major security type as of March 31, 2017 and December 31, 2016 are summarized in Table 3.1 (in thousands): Table 3.1 Fair Value 03/31/2017 12/31/2016 Non-mortgage-backed securities: Certificates of deposit $ 200,006 $ — GSE obligations 1 1,564,310 1,563,351 Non-mortgage-backed securities 1,764,316 1,563,351 Mortgage-backed securities: U.S. obligation MBS 2 665 690 GSE MBS 3 937,335 938,747 Mortgage-backed securities 938,000 939,437 TOTAL $ 2,702,316 $ 2,502,788 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. 2 Represents single-family MBS issued by Government National Mortgage Association (Ginnie Mae), which are guaranteed by the U.S. government. 3 Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. |
Net Gains (Losses) on Trading Securities | Net gains (losses) on trading securities during the three months ended March 31, 2017 and 2016 are shown in Table 3.2 (in thousands): Table 3.2 Three Months Ended 03/31/2017 03/31/2016 Net gains (losses) on trading securities held as of March 31, 2017 $ 4,687 $ 53,955 Net gains (losses) on trading securities sold or matured prior to March 31, 2017 — (4,751 ) NET GAIN (LOSS) ON TRADING SECURITIES $ 4,687 $ 49,204 |
Available-for-sale Securities [Member] | |
Investment Holdings [Line Items] | |
Available-for-sale Securities by Major Security Type | Available-for-sale securities by major security type as of March 31, 2017 are summarized in Table 3.3 (in thousands): Table 3.3 03/31/2017 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Mortgage-backed securities: GSE MBS 1 $ 1,107,094 $ 17,840 $ (10 ) $ 1,124,924 TOTAL $ 1,107,094 $ 17,840 $ (10 ) $ 1,124,924 1 Represents fixed rate multi-family MBS issued by Fannie Mae . Available-for-sale securities by major security type as of December 31, 2016 are summarized in Table 3.4 (in thousands): Table 3.4 12/31/2016 Amortized Gross Gross Fair Value Mortgage-backed securities: GSE MBS 1 $ 1,082,376 $ 9,396 $ (51 ) $ 1,091,721 TOTAL $ 1,082,376 $ 9,396 $ (51 ) $ 1,091,721 1 Represents fixed rate multi-family MBS issued by Fannie Mae . |
Securities in A Continous Unrealized Loss Postion | Table 3.5 summarizes the available-for-sale securities with unrealized losses as of March 31, 2017 (in thousands). 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 3.5 03/31/2017 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Mortgage-backed securities: GSE MBS 1 $ 30,408 $ (10 ) $ — $ — $ 30,408 $ (10 ) TOTAL TEMPORARILY IMPAIRED SECURITIES $ 30,408 $ (10 ) $ — $ — $ 30,408 $ (10 ) 1 Represents fixed rate multi-family MBS issued by Fannie Mae . Table 3.6 summarizes the available-for-sale securities with unrealized losses as of December 31, 2016 (in thousands). 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 3.6 12/31/2016 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Mortgage-backed securities: GSE MBS 1 $ — $ — $ 33,509 $ (51 ) $ 33,509 $ (51 ) TOTAL TEMPORARILY IMPAIRED SECURITIES $ — $ — $ 33,509 $ (51 ) $ 33,509 $ (51 ) 1 Represents fixed rate multi-family MBS issued by Fannie Mae . |
Held-to-maturity Securities [Member] | |
Investment Holdings [Line Items] | |
Securities in A Continous Unrealized Loss Postion | Table 3.9 summarizes the held-to-maturity securities with unrealized losses as of March 31, 2017 (in thousands). 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 3.9 03/31/2017 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses 1 Non-mortgage-backed securities: State or local housing agency obligations $ — $ — $ 24,390 $ (5,610 ) $ 24,390 $ (5,610 ) Non-mortgage-backed securities — — 24,390 (5,610 ) 24,390 (5,610 ) Mortgage-backed securities: U.S. obligation MBS 2 82,091 (125 ) 34,600 (84 ) 116,691 (209 ) GSE MBS 3 503,701 (944 ) 1,993,171 (16,622 ) 2,496,872 (17,566 ) Private-label residential MBS 584 (1 ) 79,149 (5,291 ) 79,733 (5,292 ) Mortgage-backed securities 586,376 (1,070 ) 2,106,920 (21,997 ) 2,693,296 (23,067 ) TOTAL TEMPORARILY IMPAIRED SECURITIES $ 586,376 $ (1,070 ) $ 2,131,310 $ (27,607 ) $ 2,717,686 $ (28,677 ) 1 Total unrealized losses in Table 3.9 will not agree to total gross unrecognized losses in Table 3.7 . Total unrealized losses in Table 3.9 include non-credit-related OTTI recognized in accumulated other comprehensive income (AOCI) and gross unrecognized gains on previously other-than-temporarily impaired securities. 2 Represents single-family MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. 3 Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. Table 3.10 summarizes the held-to-maturity securities with unrealized losses as of December 31, 2016 (in thousands). 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 3.10 12/31/2016 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses 1 Non-mortgage-backed securities: State or local housing agency obligations $ — $ — $ 34,348 $ (5,707 ) $ 34,348 $ (5,707 ) Non-mortgage-backed securities — — 34,348 (5,707 ) 34,348 (5,707 ) Mortgage-backed securities: U.S obligation MBS 2 — — 35,998 (201 ) 35,998 (201 ) GSE MBS 3 1,097,379 (2,612 ) 2,025,394 (19,459 ) 3,122,773 (22,071 ) Private-label residential MBS 1,903 (3 ) 85,984 (6,263 ) 87,887 (6,266 ) Mortgage-backed securities 1,099,282 (2,615 ) 2,147,376 (25,923 ) 3,246,658 (28,538 ) TOTAL TEMPORARILY IMPAIRED SECURITIES $ 1,099,282 $ (2,615 ) $ 2,181,724 $ (31,630 ) $ 3,281,006 $ (34,245 ) 1 Total unrealized losses in Table 3.10 will not agree to total gross unrecognized losses in Table 3.8 . Total unrealized losses in Table 3.10 include non-credit-related OTTI recognized in AOCI and gross unrecognized gains on previously other-than-temporarily impaired securities. 2 Represents single-family MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. 3 Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. |
Held-To-Maturity Securities by Major Security Type | Held-to-maturity securities by major security type as of March 31, 2017 are summarized in Table 3.7 (in thousands): Table 3.7 03/31/2017 Amortized Cost OTTI Recognized in OCI Carrying Value Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Non-mortgage-backed securities: State or local housing agency obligations $ 95,580 $ — $ 95,580 $ 62 $ (5,610 ) $ 90,032 Non-mortgage-backed securities 95,580 — 95,580 62 (5,610 ) 90,032 Mortgage-backed securities: U.S. obligation MBS 1 117,025 — 117,025 1 (209 ) 116,817 GSE MBS 2 4,542,231 — 4,542,231 13,909 (17,566 ) 4,538,574 Private-label residential MBS 103,338 (5,432 ) 97,906 4,952 (3,393 ) 99,465 Mortgage-backed securities 4,762,594 (5,432 ) 4,757,162 18,862 (21,168 ) 4,754,856 TOTAL $ 4,858,174 $ (5,432 ) $ 4,852,742 $ 18,924 $ (26,778 ) $ 4,844,888 1 Represents single-family 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 by major security type as of December 31, 2016 are summarized in Table 3.8 (in thousands): Table 3.8 12/31/2016 Amortized Cost OTTI Recognized in OCI Carrying Value Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Non-mortgage-backed securities: State or local housing agency obligations $ 105,780 $ — $ 105,780 $ 98 $ (5,707 ) $ 100,171 Non-mortgage-backed securities 105,780 — 105,780 98 (5,707 ) 100,171 Mortgage-backed securities: U.S obligation MBS 1 36,331 — 36,331 — (201 ) 36,130 GSE MBS 2 4,250,547 — 4,250,547 12,044 (22,071 ) 4,240,520 Private-label residential MBS 115,407 (5,841 ) 109,566 4,869 (4,004 ) 110,431 Mortgage-backed securities 4,402,285 (5,841 ) 4,396,444 16,913 (26,276 ) 4,387,081 TOTAL $ 4,508,065 $ (5,841 ) $ 4,502,224 $ 17,011 $ (31,983 ) $ 4,487,252 1 Represents single-family 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 | The amortized cost, carrying value and fair values of held-to-maturity securities by contractual maturity as of March 31, 2017 and December 31, 2016 are shown in Table 3.11 (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 3.11 03/31/2017 12/31/2016 Amortized Cost Carrying Value Fair Value Amortized Cost Carrying Value Fair Value Non-mortgage-backed securities: Due in one year or less $ — $ — $ — $ — $ — $ — Due after one year through five years 2,565 2,565 2,565 2,710 2,710 2,710 Due after five years through 10 years — — — 10,055 10,055 10,048 Due after 10 years 93,015 93,015 87,467 93,015 93,015 87,413 Non-mortgage-backed securities 95,580 95,580 90,032 105,780 105,780 100,171 Mortgage-backed securities 4,762,594 4,757,162 4,754,856 4,402,285 4,396,444 4,387,081 TOTAL $ 4,858,174 $ 4,852,742 $ 4,844,888 $ 4,508,065 $ 4,502,224 $ 4,487,252 |
Other than Temporary Impairment Losses, Investments [Abstract] | |
Total Securities Other-Than-Temporarily Impaired during the Life of the Security | Other-than-temporary Impairment: For the 19 outstanding private-label securities with OTTI during the lives of the securities, the FHLBank’s reported balances as of March 31, 2017 are presented in Table 3.12 (in thousands): Table 3.12 03/31/2017 Unpaid Principal Balance Amortized Cost Carrying Value Fair Value Private-label residential MBS: Prime $ 9,551 $ 8,531 $ 7,911 $ 8,878 Alt-A 25,815 23,006 18,194 22,026 TOTAL $ 35,366 $ 31,537 $ 26,105 $ 30,904 |
Rollforward of OTTI Activity Related to Credit Losses | Table 3.13 presents a roll-forward of OTTI activity for the three months ended March 31, 2017 and 2016 related to credit losses recognized in earnings (in thousands): Table 3.13 Three Months Ended 03/31/2017 03/31/2016 Balance, beginning of period $ 7,502 $ 7,785 Additional charge on securities for which OTTI was previously recognized 1 37 27 Amortization of credit component of OTTI 2 (69 ) (36 ) Balance, end of period $ 7,470 $ 7,776 1 For the three months ended March 31, 2017 and 2016, securities previously impaired represent all securities that were impaired prior to January 1, 2017 and 2016, 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) | 3 Months Ended |
Mar. 31, 2017 | |
Advances [Abstract] | |
Advances Table | 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 March 31, 2017 and December 31, 2016 (in thousands): Table 4.2 Year of Contractual Maturity or Next Call Date Year of Contractual Maturity or Next Conversion Date Redemption Term 03/31/2017 12/31/2016 03/31/2017 12/31/2016 Due in one year or less $ 20,553,148 $ 18,411,727 $ 19,329,422 $ 12,897,983 Due after one year through two years 1,532,082 1,752,403 1,809,504 1,800,460 Due after two years through three years 781,753 750,126 1,003,626 1,168,381 Due after three years through four years 960,052 666,059 1,136,120 808,139 Due after four years through five years 513,340 755,753 739,081 945,462 Thereafter 1,474,798 1,624,447 1,797,420 6,340,090 TOTAL PAR VALUE $ 25,815,173 $ 23,960,515 $ 25,815,173 $ 23,960,515 Interest Rate Payment Terms : Table 4.3 details additional interest rate payment terms for advances as of March 31, 2017 and December 31, 2016 (in thousands): Table 4.3 03/31/2017 12/31/2016 Fixed rate: Due in one year or less $ 8,496,631 $ 2,400,382 Due after one year 5,273,824 5,589,805 Total fixed rate 13,770,455 7,990,187 Variable rate: Due in one year or less 10,664,291 10,200,801 Due after one year 1,380,427 5,769,527 Total variable rate 12,044,718 15,970,328 TOTAL PAR VALUE $ 25,815,173 $ 23,960,515 Table 4.1 presents advances summarized by year of contractual maturity as of March 31, 2017 and December 31, 2016 (dollar amounts in thousands): Table 4.1 03/31/2017 12/31/2016 Year of Contractual Maturity Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Due in one year or less $ 19,160,922 1.16 % $ 12,601,183 1.03 % Due after one year through two years 1,886,504 1.78 2,019,260 1.96 Due after two years through three years 975,626 1.72 1,073,881 1.47 Due after three years through four years 1,047,470 2.08 781,339 1.96 Due after four years through five years 673,581 2.00 848,112 2.15 Thereafter 2,071,070 2.17 6,636,740 1.19 Total par value 25,815,173 1.37 % 23,960,515 1.24 % Discounts (12,435 ) (13,977 ) Hedging adjustments 20,207 39,297 TOTAL $ 25,822,945 $ 23,985,835 |
Mortgage Loans (Tables)
Mortgage Loans (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Mortgage Loans on Real Estate [Abstract] | |
Mortgage Loans Held For Portfolio | Table 5.1 presents information as of March 31, 2017 and December 31, 2016 on mortgage loans held for portfolio (in thousands): Table 5.1 03/31/2017 12/31/2016 Real estate: Fixed rate, medium-term 1 , single-family mortgages $ 1,324,034 $ 1,353,938 Fixed rate, long-term, single-family mortgages 5,273,241 5,182,103 Total unpaid principal balance 6,597,275 6,536,041 Premiums 103,638 103,665 Discounts (2,871 ) (2,276 ) Deferred loan costs, net 363 387 Other deferred fees (78 ) (85 ) Hedging adjustments 4,238 4,667 Total before Allowance for Credit Losses on Mortgage Loans 6,702,565 6,642,399 Allowance for Credit Losses on Mortgage Loans (1,617 ) (1,674 ) MORTGAGE LOANS HELD FOR PORTFOLIO, NET $ 6,700,948 $ 6,640,725 1 Medium-term defined as a term of 15 years or less at origination. Table 5.2 presents information as of March 31, 2017 and December 31, 2016 on the outstanding unpaid principal balance (UPB) of mortgage loans held for portfolio (in thousands): Table 5.2 03/31/2017 12/31/2016 Conventional loans $ 5,945,759 $ 5,899,924 Government-guaranteed or insured loans 651,516 636,117 TOTAL UNPAID PRINCIPAL BALANCE $ 6,597,275 $ 6,536,041 |
Allowance For Credit Losses (Ta
Allowance For Credit Losses (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Rollforward of Allowance for Credit Losses on Mortgage Loans | Table 6.1 presents a roll-forward of the allowance for credit losses for the three months ended March 31, 2017 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 March 31, 2017 (in thousands). 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. Table 6.1 03/31/2017 Conventional Loans Government Loans Credit Products 1 Direct Financing Lease Receivable Total Allowance for credit losses: Balance, beginning of three-month period $ 1,674 $ — $ — $ — $ 1,674 Net (charge-offs) recoveries (12 ) — — — (12 ) (Reversal) provision for credit losses (45 ) — — — (45 ) Balance, end of three-month period $ 1,617 $ — $ — $ — $ 1,617 Allowance for credit losses, end of period: Individually evaluated for impairment $ — $ — $ — $ — $ — Collectively evaluated for impairment 1,617 — — — 1,617 Recorded investment, end of period: Individually evaluated for impairment $ 11,883 $ — $ 25,848,675 $ 16,763 $ 25,877,321 Collectively evaluated for impairment 6,056,998 665,794 — — 6,722,792 Total $ 6,068,881 $ 665,794 $ 25,848,675 $ 16,763 $ 32,600,113 1 The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. Table 6.2 presents a roll-forward of the allowance for credit losses for the three months ended March 31, 2016 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 March 31, 2016 (in thousands): Table 6.2 03/31/2016 Conventional Loans Government Loans Credit Products 1 Direct Financing Lease Receivable Total Allowance for credit losses: Balance, beginning of three-month period $ 1,972 $ — $ — $ — $ 1,972 Net (charge-offs) recoveries (108 ) — — — (108 ) (Reversal) provision for credit losses (257 ) — — — (257 ) Balance, end of three-month period $ 1,607 $ — $ — $ — $ 1,607 Allowance for credit losses, end of period: Individually evaluated for impairment $ — $ — $ — $ — $ — Collectively evaluated for impairment 1,607 — — — 1,607 Recorded investment, end of period: Individually evaluated for impairment $ 12,204 $ — $ 25,460,813 $ 19,189 $ 25,492,206 Collectively evaluated for impairment 5,786,733 643,747 — — 6,430,480 Total $ 5,798,937 $ 643,747 $ 25,460,813 $ 19,189 $ 31,922,686 1 The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. |
Recorded Investment in Delinquent Mortgage Loans | Table 6.3 summarizes the delinquency aging and key credit quality indicators for all of the FHLBank’s portfolio segments as of March 31, 2017 (dollar amounts in thousands): Table 6.3 03/31/2017 Conventional Loans Government Loans Credit Products 1 Direct Financing Lease Receivable Total Recorded investment: Past due 30-59 days delinquent $ 36,450 $ 17,008 $ — $ — $ 53,458 Past due 60-89 days delinquent 7,440 4,534 — — 11,974 Past due 90 days or more delinquent 11,798 5,728 — — 17,526 Total past due 55,688 27,270 — — 82,958 Total current loans 6,013,193 638,524 25,848,675 16,763 32,517,155 Total recorded investment $ 6,068,881 $ 665,794 $ 25,848,675 $ 16,763 $ 32,600,113 Other delinquency statistics: In process of foreclosure, included above 2 $ 4,189 $ 1,676 $ — $ — $ 5,865 Serious delinquency rate 3 0.2 % 0.9 % — % — % 0.1 % Past due 90 days or more and still accruing interest $ — $ 5,728 $ — $ — $ 5,728 Loans on non-accrual status 4 $ 15,323 $ — $ — $ — $ 15,323 1 The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. 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 $1,299,000 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 all of the FHLBank’s portfolio segments as of December 31, 2016 (dollar amounts in thousands): Table 6.4 12/31/2016 Conventional Loans Government Loans Credit Products 1 Direct Financing Lease Receivable Total Recorded investment: Past due 30-59 days delinquent $ 40,290 $ 16,920 $ — $ — $ 57,210 Past due 60-89 days delinquent 7,982 6,383 — — 14,365 Past due 90 days or more delinquent 11,970 5,185 — — 17,155 Total past due 60,242 28,488 — — 88,730 Total current loans 5,962,533 622,856 24,009,010 17,385 30,611,784 Total recorded investment $ 6,022,775 $ 651,344 $ 24,009,010 $ 17,385 $ 30,700,514 Other delinquency statistics: In process of foreclosure, included above 2 $ 4,408 $ 1,748 $ — $ — $ 6,156 Serious delinquency rate 3 0.2 % 0.8 % — % — % 0.1 % Past due 90 days or more and still accruing interest $ — $ 5,185 $ — $ — $ 5,185 Loans on non-accrual status 4 $ 15,002 $ — $ — $ — $ 15,002 1 The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. 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 $1,327,000 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. |
Individually Evaluated Impaired Loan Statistics By Product Class Level | Table 6.5 presents the recorded investment, UPB, and related allowance of impaired conventional mortgage loans individually assessed for impairment as of March 31, 2017 and December 31, 2016 (in thousands): Table 6.5 03/31/2017 12/31/2016 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance $ 11,883 $ 11,805 $ — $ 11,834 $ 11,776 $ — With an allowance — — — — — — TOTAL $ 11,883 $ 11,805 $ — $ 11,834 $ 11,776 $ — |
Impaired Financing Receivables | Table 6.6 presents the average recorded investment and related interest income recognized on these individually evaluated impaired loans during the three months ended March 31, 2017 and 2016 (in thousands): Table 6.6 Three Months Ended 03/31/2017 03/31/2016 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance $ 11,652 $ 74 $ 11,322 $ 82 With an allowance — — — — TOTAL $ 11,652 $ 74 $ 11,322 $ 82 |
Derivatives And Hedging Activ29
Derivatives And Hedging Activities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value of Derivative Instruments | Table 7.1 presents outstanding notional amounts and fair values (excluding fair value adjustments related to variation margin on daily settled contracts) of the derivatives outstanding by type of derivative and by hedge designation as of March 31, 2017 and December 31, 2016 (in thousands). Total derivative assets and liabilities include the effect of netting adjustments, cash collateral, and variation margin for daily settled contracts. Table 7.1 03/31/2017 12/31/2016 Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities Derivatives designated as hedging instruments: Interest rate swaps $ 7,726,660 $ 75,578 $ 47,825 $ 7,896,110 $ 70,683 $ 65,471 Total derivatives designated as hedging relationships 7,726,660 75,578 47,825 7,896,110 70,683 65,471 Derivatives not designated as hedging instruments: Interest rate swaps 2,087,163 1,462 33,103 2,022,630 649 40,824 Interest rate caps/floors 2,487,400 3,252 — 2,765,200 4,859 — Mortgage delivery commitments 116,453 367 62 90,013 214 372 Total derivatives not designated as hedging instruments 4,691,016 5,081 33,165 4,877,843 5,722 41,196 TOTAL $ 12,417,676 80,659 80,990 $ 12,773,953 76,405 106,667 Netting adjustments, cash collateral, and variation margin for daily settled contracts 1 (28,661 ) (78,325 ) (15,505 ) (99,496 ) DERIVATIVE ASSETS AND LIABILITIES $ 51,998 $ 2,665 $ 60,900 $ 7,171 1 Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions as well as cash collateral, including initial or variation margin, and related accrued interest held or placed with the same clearing agent and/or derivative counterparty, and includes fair value adjustments on derivatives for which variation margin is characterized as a daily settled contract. Cash collateral posted was $84,732,000 and $105,481,000 as of March 31, 2017 and December 31, 2016 , respectively. Cash collateral received was $24,776,000 and $21,490,000 as of March 31, 2017 and December 31, 2016 , respectively. Variation margin for daily settled contracts was $(10,292,000) as of March 31, 2017. |
Net Gains(Losses) on Derivatives and Hedging Activities | For the three months ended March 31, 2017 and 2016 , 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 03/31/2017 03/31/2016 Derivatives designated as hedging instruments: Interest rate swaps $ (1,330 ) $ (2,490 ) Total net gain (loss) related to fair value hedge ineffectiveness (1,330 ) (2,490 ) Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps 8,248 (43,208 ) Interest rate caps/floors (1,608 ) (2,093 ) Net interest settlements (5,183 ) (12,244 ) Mortgage delivery commitments 490 1,549 Total net gain (loss) related to derivatives not designated as hedging instruments 1,947 (55,996 ) Other 1 (14 ) — NET GAIN (LOSS) ON DERIVATIVES AND HEDGING ACTIVITIES $ 603 $ (58,486 ) 1 Amount represents price alignment amount on derivatives for which variation margin is characterized as a daily settled contract. |
Effect of Fair Value Hedge-Related Derivative Instruments | For the three months ended March 31, 2017 and 2016 , 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 03/31/2017 03/31/2016 Gain (Loss) on Derivatives Gain (Loss) on Hedged Items Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income 1 Gain (Loss) on Derivatives Gain (Loss) on Hedged Items Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income 1 Advances $ 18,116 $ (18,228 ) $ (112 ) $ (16,491 ) $ (55,659 ) $ 55,225 $ (434 ) $ (25,434 ) Investments 3,266 (3,813 ) (547 ) (2,715 ) (22,815 ) 21,462 (1,353 ) (2,337 ) Consolidated obligation bonds (4,220 ) 3,585 (635 ) 5,519 6,737 (7,153 ) (416 ) 11,547 Consolidated obligation discount notes 16 (52 ) (36 ) (15 ) 84 (371 ) (287 ) (60 ) TOTAL $ 17,178 $ (18,508 ) $ (1,330 ) $ (13,702 ) $ (71,653 ) $ 69,163 $ (2,490 ) $ (16,284 ) 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) | 3 Months Ended |
Mar. 31, 2017 | |
Deposits [Abstract] | |
Deposits | Table 8.1 details the types of deposits held by the FHLBank as of March 31, 2017 and December 31, 2016 (in thousands): Table 8.1 03/31/2017 12/31/2016 Interest-bearing: Demand $ 231,071 $ 269,341 Overnight 307,100 278,200 Total interest-bearing 538,171 547,541 Non-interest-bearing: Demand 41,634 51,390 Total non-interest-bearing 41,634 51,390 TOTAL DEPOSITS $ 579,805 $ 598,931 |
Consolidated Obligations (Table
Consolidated Obligations (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Debt Disclosure [Abstract] | |
Consolidated Bonds Obligations Outstanding By Contractual Maturity | Table 9.1 presents the FHLBank’s participation in consolidated obligation bonds outstanding as of March 31, 2017 and December 31, 2016 (dollar amounts in thousands): Table 9.1 03/31/2017 12/31/2016 Year of Contractual Maturity Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Due in one year or less $ 11,375,135 1.02 % $ 11,001,615 0.92 % Due after one year through two years 2,871,690 1.40 2,460,440 1.46 Due after two years through three years 1,092,300 1.54 1,190,750 1.51 Due after three years through four years 1,086,050 1.55 739,600 1.56 Due after four years through five years 979,600 1.68 1,215,600 1.60 Thereafter 4,246,400 2.44 4,088,400 2.39 Total par value 21,651,175 1.43 % 20,696,405 1.37 % Premiums 23,862 26,812 Discounts (2,293 ) (2,342 ) Concession fees (9,712 ) (9,441 ) Hedging adjustments 7,316 10,901 TOTAL $ 21,670,348 $ 20,722,335 |
Consolidated Bonds Obligations By Contractual 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 March 31, 2017 and December 31, 2016 (in thousands): Table 9.2 Year of Maturity or Next Call Date 03/31/2017 12/31/2016 Due in one year or less $ 17,430,135 $ 16,581,615 Due after one year through two years 2,516,690 2,275,440 Due after two years through three years 626,300 694,750 Due after three years through four years 366,050 389,600 Due after four years through five years 219,600 190,600 Thereafter 492,400 564,400 TOTAL PAR VALUE $ 21,651,175 $ 20,696,405 |
Consolidated Bonds By Interest-Rate Payment Type | Table 9.3 summarizes interest rate payment terms for consolidated obligation bonds as of March 31, 2017 and December 31, 2016 (in thousands): Table 9.3 03/31/2017 12/31/2016 Simple variable rate $ 10,287,000 $ 9,537,000 Fixed rate 10,224,175 10,164,405 Fixed to variable rate 610,000 545,000 Step 490,000 420,000 Range 40,000 30,000 TOTAL PAR VALUE $ 21,651,175 $ 20,696,405 |
Consolidated Discount Notes Outstanding | Table 9.4 summarizes the FHLBank’s participation in consolidated obligation discount notes, all of which are due within one year (dollar amounts in thousands): Table 9.4 Book Value Par Value Weighted Average Interest Rate 1 March 31, 2017 $ 22,505,730 $ 22,522,432 0.66 % December 31, 2016 $ 21,775,341 $ 21,784,924 0.47 % 1 Represents yield to maturity excluding concession fees. |
Assets and Liabilities Subjec32
Assets and Liabilities Subject to Offsetting (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Offsetting [Abstract] | |
Schedule of Offsetting Assets | Tables 10.1 and 10.2 present the fair value of financial assets, including the related collateral received from or pledged to clearing agents or counterparties and variation margin for daily settled contracts, based on the terms of the FHLBank’s master netting arrangements or similar agreements as of March 31, 2017 and December 31, 2016 (in thousands): Table 10.1 03/31/2017 Description Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Condition 1 Net Amounts of Assets Presented in the Statement of Condition Gross Amounts Not Offset in the Statement of Condition 2 Net Amount Derivative assets: Uncleared derivatives $ 53,590 $ (44,574 ) $ 9,016 $ (367 ) $ 8,649 Cleared derivatives 3 27,069 15,913 42,982 — 42,982 Total derivative assets 80,659 (28,661 ) 51,998 (367 ) 51,631 Securities purchased under agreements to resell 2,500,000 — 2,500,000 (2,500,000 ) — TOTAL $ 2,580,659 $ (28,661 ) $ 2,551,998 $ (2,500,367 ) $ 51,631 1 Represents netting adjustments, cash collateral, and variation margin for daily settled contracts. 2 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). 3 Variation margin for daily settled contracts of $(10,292,000) is included with gross amounts offset in the Statement of Condition. Table 10.2 12/31/2016 Description Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Condition Net Amounts of Assets Presented in the Statement of Condition Gross Amounts Not Offset in the Statement of Condition 1 Net Amount Derivative assets: Uncleared derivatives $ 51,765 $ (39,540 ) $ 12,225 $ (214 ) $ 12,011 Cleared derivatives 24,640 24,035 48,675 — 48,675 Total derivative assets 76,405 (15,505 ) 60,900 (214 ) 60,686 Securities purchased under agreements to resell 2,400,000 — 2,400,000 (2,400,000 ) — TOTAL $ 2,476,405 $ (15,505 ) $ 2,460,900 $ (2,400,214 ) $ 60,686 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 10.3 and 10.4 present the fair value of financial liabilities, including the related collateral received from or pledged to counterparties and variation margin for daily settled contracts, based on the terms of the FHLBank’s master netting arrangements or similar agreements as of March 31, 2017 and December 31, 2016 (in thousands): Table 10.3 03/31/2017 Description Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Condition 1 Net Amounts of Liabilities Presented in the Statement of Condition Gross Amounts Not Offset in the Statement of Condition 2 Net Amount Derivative liabilities: Uncleared derivatives $ 56,020 $ (53,735 ) $ 2,285 $ (62 ) $ 2,223 Cleared derivatives 24,970 (24,590 ) 380 — 380 Total derivative liabilities 80,990 (78,325 ) 2,665 (62 ) 2,603 TOTAL $ 80,990 $ (78,325 ) $ 2,665 $ (62 ) $ 2,603 1 Represents netting adjustments and cash collateral. 2 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 10.4 12/31/2016 Description Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Condition Net Amounts of Liabilities Presented in the Statement of Condition Gross Amounts Not Offset in the Statement of Condition 1 Net Amount Derivative liabilities: Uncleared derivatives $ 72,039 $ (64,868 ) $ 7,171 $ (372 ) $ 6,799 Cleared derivatives 34,628 (34,628 ) — — — Total derivative liabilities 106,667 (99,496 ) 7,171 (372 ) 6,799 TOTAL $ 106,667 $ (99,496 ) $ 7,171 $ (372 ) $ 6,799 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) | 3 Months Ended |
Mar. 31, 2017 | |
Stockholders' Equity Note [Abstract] | |
Regulatory Capital Requirements | Table 11.1 illustrates that the FHLBank was in compliance with its regulatory capital requirements as of March 31, 2017 and December 31, 2016 (dollar amounts in thousands): Table 11.1 03/31/2017 12/31/2016 Required Actual Required Actual Regulatory capital requirements: Risk-based capital $ 336,896 $ 1,946,691 $ 333,044 $ 1,800,372 Total regulatory capital-to-asset ratio 4.0 % 4.5 % 4.0 % 4.3 % Total regulatory capital $ 1,883,645 $ 2,122,165 $ 1,808,670 $ 1,964,541 Leverage capital ratio 5.0 % 6.6 % 5.0 % 6.3 % Leverage capital $ 2,354,557 $ 3,095,510 $ 2,260,837 $ 2,864,727 |
Mandatorily Redeemable Capital Stock Rollforward | Table 11.2 presents a roll-forward of mandatorily redeemable capital stock for the three months ended March 31, 2017 and 2016 (in thousands): Table 11.2 Three Months Ended 03/31/2017 03/31/2016 Balance, beginning of period $ 2,670 $ 2,739 Capital stock subject to mandatory redemption reclassified from equity during the period 173,395 160,234 Redemption or repurchase of mandatorily redeemable capital stock during the period (173,814 ) (159,546 ) Stock dividend classified as mandatorily redeemable capital stock during the period 13 6 Balance, end of period $ 2,264 $ 3,433 |
Mandatorily Redeemable Capital Stock By Contractual Year Of Repurchase | Table 11.3 shows the amount of mandatorily redeemable capital stock by contractual year of redemption as of March 31, 2017 and December 31, 2016 (in thousands). The year of redemption in Table 11.3 is the end of the redemption period in accordance with the FHLBank’s capital plan. The FHLBank is not required to redeem or repurchase membership stock until six months (for Class A Common Stock) or five 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 11.3 Contractual Year of Repurchase 03/31/2017 12/31/2016 Year 1 $ 1 $ 192 Year 2 1 1 Year 3 — — Year 4 — — Year 5 543 641 Past contractual redemption date due to remaining activity 1 1,719 1,836 TOTAL $ 2,264 $ 2,670 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 Comprehensi34
Accumulated Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income Or Loss | Table 12.1 summarizes the changes in AOCI for the three months ended March 31, 2017 and 2016 (in thousands): Table 12.1 Net Unrealized Gain (Loss) on Available-for-Sale Securities (Note 3) Net Non-credit Portion of OTTI Losses on Held-to-maturity Securities (Note 3) Defined Benefit Pension Plan Total AOCI Balance at December 31, 2015 $ (8,577 ) $ (7,950 ) $ (2,450 ) $ (18,977 ) Other comprehensive income (loss) before reclassification: Unrealized gain (loss) 4,742 4,742 Non-credit OTTI losses (62 ) (62 ) Accretion of non-credit loss 550 550 Reclassifications from other comprehensive income (loss) to net income: Non-credit OTTI to credit OTTI 1 25 25 Amortization of net loss - defined benefit pension plan 2 47 47 Net current period other comprehensive income (loss) 4,742 513 47 5,302 Balance at March 31, 2016 $ (3,835 ) $ (7,437 ) $ (2,403 ) $ (13,675 ) Balance at December 31, 2016 $ 9,345 $ (5,841 ) $ (2,927 ) $ 577 Other comprehensive income (loss) before reclassification: Unrealized gain (loss) 8,485 8,485 Non-credit OTTI losses (4 ) (4 ) Accretion of non-credit loss 376 376 Reclassifications from other comprehensive income (loss) to net income: Non-credit OTTI to credit OTTI 1 37 37 Amortization of net loss - defined benefit pension plan 2 57 57 Net current period other comprehensive income (loss) 8,485 409 57 8,951 Balance at March 31, 2017 $ 17,830 $ (5,432 ) $ (2,870 ) $ 9,528 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) | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Summary | The carrying value and fair value of the FHLBank’s financial assets and liabilities as of March 31, 2017 and December 31, 2016 are summarized in Tables 13.1 and 13.2 (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 13.1 03/31/2017 Carrying Value Total Fair Value Level 1 Level 2 Level 3 Netting Adjustment and Cash Collateral 1 Assets: Cash and due from banks $ 108,492 $ 108,492 $ 108,492 $ — $ — $ — Interest-bearing deposits 401,161 401,161 — 401,161 — — Securities purchased under agreements to resell 2,500,000 2,500,000 — 2,500,000 — — Federal funds sold 2,705,000 2,705,000 — 2,705,000 — — Trading securities 2,702,316 2,702,316 — 2,702,316 — — Available-for-sale securities 1,124,924 1,124,924 — 1,124,924 — — Held-to-maturity securities 4,852,742 4,844,888 — 4,655,391 189,497 — Advances 25,822,945 25,866,229 — 25,866,229 — — Mortgage loans held for portfolio, net of allowance 6,700,948 6,815,907 — 6,814,144 1,763 — Accrued interest receivable 72,569 72,569 — 72,569 — — Derivative assets 51,998 51,998 — 80,659 — (28,661 ) Liabilities: Deposits 579,805 579,805 — 579,805 — — Consolidated obligation discount notes 22,505,730 22,504,048 — 22,504,048 — — Consolidated obligation bonds 21,670,348 21,547,096 — 21,547,096 — — Mandatorily redeemable capital stock 2,264 2,264 2,264 — — — Accrued interest payable 60,887 60,887 — 60,887 — — Derivative liabilities 2,665 2,665 — 80,990 — (78,325 ) Other Asset (Liability): Standby letters of credit (1,061 ) (1,061 ) — (1,061 ) — — Standby bond purchase agreements (32 ) 5,037 — 5,037 — — Advance commitments — (5,690 ) — (5,690 ) — — 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, related accrued interest held or placed with the same clearing agent or derivative counterparty, and variation margin for daily settled contracts . Variation margin for daily settled contracts of $(10,292,000) is included with derivative assets. Table 13.2 12/31/2016 Carrying Value Total Fair Value Level 1 Level 2 Level 3 Netting Adjustment and Cash Collateral 1 Assets: Cash and due from banks $ 207,254 $ 207,254 $ 207,254 $ — $ — $ — Interest-bearing deposits 387,920 387,920 — 387,920 — — Securities purchased under agreements to resell 2,400,000 2,400,000 — 2,400,000 — — Federal funds sold 2,725,000 2,725,000 — 2,725,000 — — Trading securities 2,502,788 2,502,788 — 2,502,788 — — Available-for-sale securities 1,091,721 1,091,721 — 1,091,721 — — Held-to-maturity securities 4,502,224 4,487,252 — 4,276,650 210,602 — Advances 23,985,835 24,016,686 — 24,016,686 — — Mortgage loans held for portfolio, net of allowance 6,640,725 6,754,046 — 6,752,849 1,197 — Overnight loans to other FHLBanks 600,000 600,000 — 600,000 — — Accrued interest receivable 68,400 68,400 — 68,400 — — Derivative assets 60,900 60,900 — 76,405 — (15,505 ) Liabilities: Deposits 598,931 598,931 — 598,931 — — Consolidated obligation discount notes 21,775,341 21,774,950 — 21,774,950 — — Consolidated obligation bonds 20,722,335 20,568,653 — 20,568,653 — — Mandatorily redeemable capital stock 2,670 2,670 2,670 — — — Accrued interest payable 49,808 49,808 — 49,808 — — Derivative liabilities 7,171 7,171 — 106,667 — (99,496 ) Other Asset (Liability): Standby letters of credit (1,151 ) (1,151 ) — (1,151 ) — — Standby bond purchase agreements 6 6,016 — 6,016 — — Advance commitments — (6,241 ) — (6,241 ) — — 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. |
Hierarchy Level for Financial Assets and Liabilities - Recurring and Nonrecurring | Tables 13.3 and 13.4 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 or for the periods ended March 31, 2017 and December 31, 2016 (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 during a period 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. The FHLBank measures certain impaired mortgage loans held for portfolio at fair value on a nonrecurring basis when, upon individual evaluation for impairment, the estimated fair value less costs to sell is lower than the recorded investment. REO is measured at fair value when the asset’s fair value less costs to sell is lower than its carrying amount. Table 13.3 03/31/2017 Total Level 1 Level 2 Level 3 Netting Adjustment and Cash Collateral 1 Recurring fair value measurements - Assets: Trading securities: Certificates of deposit $ 200,006 $ — $ 200,006 $ — $ — GSE obligations 2 $ 1,564,310 $ — $ 1,564,310 $ — $ — U.S. obligation MBS 3 665 — 665 — — GSE MBS 4 937,335 — 937,335 — — Total trading securities 2,702,316 — 2,702,316 — — Available-for-sale securities: GSE MBS 5 1,124,924 — 1,124,924 — — Total available-for-sale securities 1,124,924 — 1,124,924 — — Derivative assets: Interest-rate related 51,631 — 80,292 — (28,661 ) Mortgage delivery commitments 367 — 367 — — Total derivative assets 51,998 — 80,659 — (28,661 ) TOTAL RECURRING FAIR VALUE MEASUREMENTS - ASSETS $ 3,879,238 $ — $ 3,907,899 $ — $ (28,661 ) Recurring fair value measurements - Liabilities: Derivative liabilities: Interest-rate related $ 2,603 $ — $ 80,928 $ — $ (78,325 ) Mortgage delivery commitments 62 — 62 — — Total derivative liabilities 2,665 — 80,990 — (78,325 ) TOTAL RECURRING FAIR VALUE MEASUREMENTS - LIABILITIES $ 2,665 $ — $ 80,990 $ — $ (78,325 ) Nonrecurring fair value measurements - Assets 6 : Held-to-maturity securities: Private-label residential MBS $ 631 $ — $ — $ 631 $ — Impaired mortgage loans 1,769 — — 1,769 — Real estate owned 471 — — 471 — TOTAL NONRECURRING FAIR VALUE MEASUREMENTS - ASSETS $ 2,871 $ — $ — $ 2,871 $ — 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, related accrued interest held or placed with the same clearing agent or derivative counterparty, and variation margin for daily settled contracts . 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. 3 Represents single-family 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. 5 Represents multi-family MBS issued by Fannie Mae. 6 Includes assets adjusted to fair value during the three months ended March 31, 2017 and still outstanding as of March 31, 2017 . Table 13.4 12/31/2016 Total Level 1 Level 2 Level 3 Netting Adjustment and Cash Collateral 1 Recurring fair value measurements - Assets: Trading securities: GSE obligations 2 $ 1,563,351 $ — $ 1,563,351 $ — $ — U.S. obligation MBS 3 690 — 690 — — GSE MBS 4 938,747 — 938,747 — — Total trading securities 2,502,788 — 2,502,788 — — Available-for-sale securities: GSE MBS 5 1,091,721 — 1,091,721 — — Total available-for-sale securities 1,091,721 — 1,091,721 — — Derivative assets: Interest-rate related 60,686 — 76,191 — (15,505 ) Mortgage delivery commitments 214 — 214 — — Total derivative assets 60,900 — 76,405 — (15,505 ) TOTAL RECURRING FAIR VALUE MEASUREMENTS - ASSETS $ 3,655,409 $ — $ 3,670,914 $ — $ (15,505 ) Recurring fair value measurements - Liabilities: Derivative liabilities: Interest-rate related $ 6,799 $ — $ 106,295 $ — $ (99,496 ) Mortgage delivery commitments 372 — 372 — — Total derivative liabilities 7,171 — 106,667 — (99,496 ) TOTAL RECURRING FAIR VALUE MEASUREMENTS - LIABILITIES $ 7,171 $ — $ 106,667 $ — $ (99,496 ) Nonrecurring fair value measurements - Assets 6 : Held-to-maturity securities: Private-label residential MBS $ 4,781 $ — $ — $ 4,781 $ — Impaired mortgage loans 1,205 $ 1,205 Real estate owned 1,086 — — 1,086 — TOTAL NONRECURRING FAIR VALUE MEASUREMENTS - ASSETS $ 7,072 $ — $ — $ 7,072 $ — 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 and Farm Credit. GSE securities are not guaranteed by the U.S. government. 3 Represents single-family 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. 5 Represents multi-family MBS issued by Fannie Mae. 6 Includes assets adjusted to fair value during the year ended December 31, 2016 and still outstanding as of December 31, 2016 . |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Off Balance Sheet Commitments | As of March 31, 2017 and December 31, 2016 , off-balance sheet commitments are presented in Table 14.1 (in thousands): Table 14.1 03/31/2017 12/31/2016 Notional Amount Expire Within One Year Expire After One Year Total Expire Within One Year Expire After One Year Total Standby letters of credit outstanding $ 3,208,195 $ 15,656 $ 3,223,851 $ 2,995,497 $ 12,823 $ 3,008,320 Advance commitments outstanding 80,475 15,000 95,475 37,950 45,025 82,975 Commitments for standby bond purchases 413,922 780,074 1,193,996 210,349 1,002,669 1,213,018 Commitments to fund or purchase mortgage loans 116,453 — 116,453 90,013 — 90,013 Commitments to issue consolidated bonds, at par 72,500 — 72,500 45,000 — 45,000 |
Transactions With Stockholders
Transactions With Stockholders (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Related Party Transactions, by Balance Sheet Grouping | Tables 15.1 and 15.2 present information as of March 31, 2017 and December 31, 2016 on members that owned more than 10 percent of outstanding FHLBank regulatory capital stock in 2017 or 2016 (dollar amounts in thousands). None of the officers or directors of these members currently serve on the FHLBank’s board of directors. Table 15.1 03/31/2017 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 0.3 % $ 257,369 21.8 % $ 257,869 19.0 % Bank of Oklahoma, NA OK 500 0.3 246,694 20.9 247,194 18.2 TOTAL $ 1,000 0.6 % $ 504,063 42.7 % $ 505,063 37.2 % Table 15.2 12/31/2016 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 Bank of Oklahoma, NA OK $ 500 0.3 % $ 219,755 20.6 % $ 220,255 17.9 % MidFirst Bank OK 500 0.3 197,669 18.6 198,169 16.1 TOTAL $ 1,000 0.6 % $ 417,424 39.2 % $ 418,424 34.0 % Advance and deposit balances with members that owned more than 10 percent of outstanding FHLBank regulatory capital stock as of March 31, 2017 and December 31, 2016 are summarized in Table 15.3 (dollar amounts in thousands). Table 15.3 03/31/2017 12/31/2016 03/31/2017 12/31/2016 Member Name Outstanding Advances Percent of Total Outstanding Advances Percent of Total Outstanding Deposits Percent of Total Outstanding Deposits Percent of Total MidFirst Bank $ 5,600,000 21.7 % $ 4,340,000 18.1 % $ 245 — % $ 424 0.1 % Bank of Oklahoma, NA 5,200,000 20.1 4,800,000 20.0 8,816 1.5 54,145 9.1 TOTAL $ 10,800,000 41.8 % $ 9,140,000 38.1 % $ 9,061 1.5 % $ 54,569 9.2 % |
Related Party Transactions, by Balance Sheet Grouping - Directors' | Table 15.4 presents information as of March 31, 2017 and December 31, 2016 for members that had an officer or director serving on the FHLBank’s board of directors (dollar 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 15.4 03/31/2017 12/31/2016 Outstanding Amount Percent of Total Outstanding Amount Percent of Total Advances $ 152,607 0.6 % $ 172,793 0.7 % Deposits $ 12,542 2.2 % $ 12,329 2.1 % Class A Common Stock $ 4,251 2.4 % $ 3,782 2.3 % Class B Common Stock 4,744 0.4 5,585 0.5 TOTAL CAPITAL STOCK $ 8,995 0.7 % $ 9,367 0.8 % |
Schedule Of Related Party Transactions, Mortgage Loans Disclosure | Table 15.5 presents mortgage loans acquired during the three months ended March 31, 2017 and 2016 for members that had an officer or director serving on the FHLBank’s board of directors in 2017 or 2016 (dollar amounts in thousands). Information is only included for the period in which the officer or director served on the FHLBank’s board of directors. Table 15.5 Three Months Ended 03/31/2017 03/31/2016 Amount Percent of Total Amount Percent of Total Mortgage loans acquired $ 28,866 10.0 % $ 12,101 5.5 % |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) | Mar. 31, 2017 |
Private-label residential MBS [Member] | Residential MBS [Member] | |
Investment [Line Items] | |
Held-to-Maturity Securities, Other Than Temporarily Impaired, Number of Securities, Life to Date | 19 |
Investment Securities Investmen
Investment Securities Investment Securities (Trading Securities by Major Security Type) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading securities | $ 2,702,316 | $ 2,502,788 | |
Certificates of Deposit [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading securities | 200,006 | 0 | |
GSE obligations [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading securities | [1] | 1,564,310 | 1,563,351 |
Non-mortgage-backed securities [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading securities | 1,764,316 | 1,563,351 | |
U.S. obligation MBS [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading securities | [2] | 665 | 690 |
GSE MBS [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading securities | [3] | 937,335 | 938,747 |
Mortgage-backed securities [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading securities | $ 938,000 | $ 939,437 | |
[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. | ||
[2] | Represents single-family MBS issued by Government National Mortgage Association (Ginnie Mae), which are guaranteed by the U.S. government. | ||
[3] | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. |
Investment Securities (Net Gain
Investment Securities (Net Gains (Losses) on Trading Securities) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Trading Securities [Abstract] | ||
Net gains (losses) on trading securities held as of current period end | $ 4,687 | $ 53,955 |
Net gains (losses) on trading securities sold or matured prior to current period end | 0 | (4,751) |
NET GAIN (LOSS) ON TRADING SECURITIES | $ 4,687 | $ 49,204 |
Investment Securities Investm41
Investment Securities Investment Securities (Available-For-Sale Securities by Major Security Type) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | $ 1,107,094 | $ 1,082,376 | |
Gross Unrecognized Gains | 17,840 | 9,396 | |
Gross Unrecognized Losses | (10) | (51) | |
Fair Value | 1,124,924 | 1,091,721 | |
Fixed rate [Member] | GSE MBS [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | [1] | 1,107,094 | 1,082,376 |
Gross Unrecognized Gains | [1] | 17,840 | 9,396 |
Gross Unrecognized Losses | [1] | (10) | (51) |
Fair Value | [1] | $ 1,124,924 | $ 1,091,721 |
[1] | Represents fixed rate multi-family MBS issued by Fannie Mae. |
Investment Securities Investm42
Investment Securities Investment Securites (Available-For-Sale Securities in a Continuous Unrealized Loss Position) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 Months, Fair Value | $ 30,408 | $ 0 | |
Less than 12 Months, Unrealized Losses | (10) | 0 | |
12 Months or More, Fair Value | 0 | 33,509 | |
12 Months or More, Unrealized Losses | 0 | (51) | |
TOTAL TEMPORARILY IMPAIRED SECURITIES, Fair Value | 30,408 | 33,509 | |
TOTAL TEMPORARILY IMPAIRED SECURITIES, Unrealized Losses | (10) | (51) | |
GSE MBS [Member] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 Months, Fair Value | [1] | 30,408 | 0 |
Less than 12 Months, Unrealized Losses | [1] | (10) | 0 |
12 Months or More, Fair Value | [1] | 0 | 33,509 |
12 Months or More, Unrealized Losses | [1] | 0 | (51) |
TOTAL TEMPORARILY IMPAIRED SECURITIES, Fair Value | [1] | 30,408 | 33,509 |
TOTAL TEMPORARILY IMPAIRED SECURITIES, Unrealized Losses | [1] | $ (10) | $ (51) |
[1] | Represents fixed rate multi-family MBS issued by Fannie Mae. |
Investment Securities (Held-To-
Investment Securities (Held-To-Maturity Securities by Major Security Type) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Held-to-maturity Securities, Unclassified [Abstract] | |||
Amortized Cost | $ 4,858,174 | $ 4,508,065 | |
OTTI Recognized in OCI | (5,432) | (5,841) | |
Carrying Value | [1] | 4,852,742 | 4,502,224 |
Gross Unrecognized Gains | 18,924 | 17,011 | |
Gross Unrecognized Losses | (26,778) | (31,983) | |
Held-to-maturity Securities, Fair Value | 4,844,888 | 4,487,252 | |
State or local housing agency obligations [Member] | |||
Held-to-maturity Securities, Unclassified [Abstract] | |||
Amortized Cost | 95,580 | 105,780 | |
OTTI Recognized in OCI | 0 | 0 | |
Carrying Value | 95,580 | 105,780 | |
Gross Unrecognized Gains | 62 | 98 | |
Gross Unrecognized Losses | (5,610) | (5,707) | |
Held-to-maturity Securities, Fair Value | 90,032 | 100,171 | |
Non-mortgage-backed securities [Member] | |||
Held-to-maturity Securities, Unclassified [Abstract] | |||
Amortized Cost | 95,580 | 105,780 | |
OTTI Recognized in OCI | 0 | 0 | |
Carrying Value | 95,580 | 105,780 | |
Gross Unrecognized Gains | 62 | 98 | |
Gross Unrecognized Losses | (5,610) | (5,707) | |
Held-to-maturity Securities, Fair Value | 90,032 | 100,171 | |
U.S. obligation MBS [Member] | |||
Held-to-maturity Securities, Unclassified [Abstract] | |||
Amortized Cost | [2] | 117,025 | 36,331 |
OTTI Recognized in OCI | [2] | 0 | 0 |
Carrying Value | [2] | 117,025 | 36,331 |
Gross Unrecognized Gains | [2] | 1 | 0 |
Gross Unrecognized Losses | [2] | (209) | (201) |
Held-to-maturity Securities, Fair Value | [2] | 116,817 | 36,130 |
GSE MBS [Member] | |||
Held-to-maturity Securities, Unclassified [Abstract] | |||
Amortized Cost | [3] | 4,542,231 | 4,250,547 |
OTTI Recognized in OCI | [3] | 0 | 0 |
Carrying Value | [3] | 4,542,231 | 4,250,547 |
Gross Unrecognized Gains | [3] | 13,909 | 12,044 |
Gross Unrecognized Losses | [3] | (17,566) | (22,071) |
Held-to-maturity Securities, Fair Value | [3] | 4,538,574 | 4,240,520 |
Private-label residential MBS [Member] | Residential MBS [Member] | |||
Held-to-maturity Securities, Unclassified [Abstract] | |||
Amortized Cost | 103,338 | 115,407 | |
OTTI Recognized in OCI | (5,432) | (5,841) | |
Carrying Value | 97,906 | 109,566 | |
Gross Unrecognized Gains | 4,952 | 4,869 | |
Gross Unrecognized Losses | (3,393) | (4,004) | |
Held-to-maturity Securities, Fair Value | 99,465 | 110,431 | |
Mortgage-backed securities [Member] | |||
Held-to-maturity Securities, Unclassified [Abstract] | |||
Amortized Cost | 4,762,594 | 4,402,285 | |
OTTI Recognized in OCI | (5,432) | (5,841) | |
Carrying Value | 4,757,162 | 4,396,444 | |
Gross Unrecognized Gains | 18,862 | 16,913 | |
Gross Unrecognized Losses | (21,168) | (26,276) | |
Held-to-maturity Securities, Fair Value | $ 4,754,856 | $ 4,387,081 | |
[1] | Fair value: $4,844,888 and $4,487,252 as of March 31, 2017 and December 31, 2016, respectively. | ||
[2] | Represents single-family MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | ||
[3] | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. |
Investment Securities (Held-T44
Investment Securities (Held-To-Maturity Securities in a Continuous Unrealized Loss Position) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||||
Less Than 12 Months, Fair Value | $ 586,376 | $ 1,099,282 | |||
Less Than 12 Months, Unrealized Losses | (1,070) | (2,615) | |||
12 Months or More, Fair Value | 2,131,310 | 2,181,724 | |||
12 Months or More, Unrealized Losses | (27,607) | (31,630) | |||
TOTAL TEMPORARILY IMPAIRED SECURITIES, Fair Value | 2,717,686 | 3,281,006 | |||
TOTAL TEMPORARILY IMPAIRED SECURITIES, Unrealized Losses | (28,677) | [1] | (34,245) | [2] | |
State or local housing agency obligations [Member] | |||||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||||
Less Than 12 Months, Fair Value | 0 | 0 | |||
Less Than 12 Months, Unrealized Losses | 0 | 0 | |||
12 Months or More, Fair Value | 24,390 | 34,348 | |||
12 Months or More, Unrealized Losses | (5,610) | (5,707) | |||
TOTAL TEMPORARILY IMPAIRED SECURITIES, Fair Value | 24,390 | 34,348 | |||
TOTAL TEMPORARILY IMPAIRED SECURITIES, Unrealized Losses | (5,610) | [1] | (5,707) | [2] | |
Non-mortgage-backed securities [Member] | |||||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||||
Less Than 12 Months, Fair Value | 0 | 0 | |||
Less Than 12 Months, Unrealized Losses | 0 | 0 | |||
12 Months or More, Fair Value | 24,390 | 34,348 | |||
12 Months or More, Unrealized Losses | (5,610) | (5,707) | |||
TOTAL TEMPORARILY IMPAIRED SECURITIES, Fair Value | 24,390 | 34,348 | |||
TOTAL TEMPORARILY IMPAIRED SECURITIES, Unrealized Losses | (5,610) | [1] | (5,707) | [2] | |
U.S. obligation MBS [Member] | |||||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||||
Less Than 12 Months, Fair Value | [3] | 82,091 | 0 | ||
Less Than 12 Months, Unrealized Losses | [3] | (125) | 0 | ||
12 Months or More, Fair Value | [3] | 34,600 | 35,998 | ||
12 Months or More, Unrealized Losses | [3] | (84) | (201) | ||
TOTAL TEMPORARILY IMPAIRED SECURITIES, Fair Value | [3] | 116,691 | 35,998 | ||
TOTAL TEMPORARILY IMPAIRED SECURITIES, Unrealized Losses | [3] | (209) | [1] | (201) | [2] |
GSE MBS [Member] | |||||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||||
Less Than 12 Months, Fair Value | [4] | 503,701 | 1,097,379 | ||
Less Than 12 Months, Unrealized Losses | [4] | (944) | (2,612) | ||
12 Months or More, Fair Value | [4] | 1,993,171 | 2,025,394 | ||
12 Months or More, Unrealized Losses | [4] | (16,622) | (19,459) | ||
TOTAL TEMPORARILY IMPAIRED SECURITIES, Fair Value | [4] | 2,496,872 | 3,122,773 | ||
TOTAL TEMPORARILY IMPAIRED SECURITIES, Unrealized Losses | [4] | (17,566) | [1] | (22,071) | [2] |
Private-label residential MBS [Member] | Residential MBS [Member] | |||||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||||
Less Than 12 Months, Fair Value | 584 | 1,903 | |||
Less Than 12 Months, Unrealized Losses | (1) | (3) | |||
12 Months or More, Fair Value | 79,149 | 85,984 | |||
12 Months or More, Unrealized Losses | (5,291) | (6,263) | |||
TOTAL TEMPORARILY IMPAIRED SECURITIES, Fair Value | 79,733 | 87,887 | |||
TOTAL TEMPORARILY IMPAIRED SECURITIES, Unrealized Losses | (5,292) | [1] | (6,266) | [2] | |
Mortgage-backed securities [Member] | |||||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||||
Less Than 12 Months, Fair Value | 586,376 | 1,099,282 | |||
Less Than 12 Months, Unrealized Losses | (1,070) | (2,615) | |||
12 Months or More, Fair Value | 2,106,920 | 2,147,376 | |||
12 Months or More, Unrealized Losses | (21,997) | (25,923) | |||
TOTAL TEMPORARILY IMPAIRED SECURITIES, Fair Value | 2,693,296 | 3,246,658 | |||
TOTAL TEMPORARILY IMPAIRED SECURITIES, Unrealized Losses | $ (23,067) | [1] | $ (28,538) | [2] | |
[1] | Total unrealized losses in Table 3.9 will not agree to total gross unrecognized losses in Table 3.7. Total unrealized losses in Table 3.9 include non-credit-related OTTI recognized in accumulated other comprehensive income (AOCI) and gross unrecognized gains on previously other-than-temporarily impaired securities. | ||||
[2] | Total unrealized losses in Table 3.10 will not agree to total gross unrecognized losses in Table 3.8. Total unrealized losses in Table 3.10 include non-credit-related OTTI recognized in AOCI and gross unrecognized gains on previously other-than-temporarily impaired securities. | ||||
[3] | Represents single-family 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. |
Investment Securities (Held-T45
Investment Securities (Held-To-Maturity Securities Classified By Contractual Maturity) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Held-to-maturity Securities, Debt Maturities [Abstract] | |||
Amortized Cost | $ 4,858,174 | $ 4,508,065 | |
Carrying Value | [1] | 4,852,742 | 4,502,224 |
Fair Value | 4,844,888 | 4,487,252 | |
Non-mortgage-backed securities [Member] | |||
Held-to-maturity Securities, Debt Maturities [Abstract] | |||
Due in one year or less, Amortized Cost | 0 | 0 | |
Due after one year through five years, Amortized Cost | 2,565 | 2,710 | |
Due after five years through 10 years, Amortized Cost | 0 | 10,055 | |
Due after 10 years, Amortized Cost | 93,015 | 93,015 | |
Amortized Cost | 95,580 | 105,780 | |
Due in one year or less, Carrying Value | 0 | 0 | |
Due after one year through five years, Carrying Value | 2,565 | 2,710 | |
Due after five years through 10 years, Carrying Value | 0 | 10,055 | |
Due after 10 years, Carrying Value | 93,015 | 93,015 | |
Carrying Value | 95,580 | 105,780 | |
Due in one year or less, Fair Value | 0 | 0 | |
Due after one year through five years, Fair Value | 2,565 | 2,710 | |
Due after five years through 10 years, Fair Value | 0 | 10,048 | |
Due after 10 years, Fair Value | 87,467 | 87,413 | |
Fair Value | 90,032 | 100,171 | |
Mortgage-backed securities [Member] | |||
Held-to-maturity Securities, Debt Maturities [Abstract] | |||
Amortized Cost | 4,762,594 | 4,402,285 | |
Carrying Value | 4,757,162 | 4,396,444 | |
Fair Value | $ 4,754,856 | $ 4,387,081 | |
[1] | Fair value: $4,844,888 and $4,487,252 as of March 31, 2017 and December 31, 2016, respectively. |
Investment Securities (Total Se
Investment Securities (Total Securities Other-Than-Temporary Impairment during the Life of the Security) (Details) - Held-to-maturity Securities [Member] - Residential MBS [Member] - Private-label residential MBS [Member] $ in Thousands | Mar. 31, 2017USD ($) |
Schedule of Held-to-maturity Securities [Line Items] | |
Unpaid Principal Balance | $ 35,366 |
Amortized Cost | 31,537 |
Carrying Value | 26,105 |
Fair Value | 30,904 |
Prime [Member] | |
Schedule of Held-to-maturity Securities [Line Items] | |
Unpaid Principal Balance | 9,551 |
Amortized Cost | 8,531 |
Carrying Value | 7,911 |
Fair Value | 8,878 |
Alt-A [Member] | |
Schedule of Held-to-maturity Securities [Line Items] | |
Unpaid Principal Balance | 25,815 |
Amortized Cost | 23,006 |
Carrying Value | 18,194 |
Fair Value | $ 22,026 |
Investment Securities (Rollforw
Investment Securities (Rollforward of OTTI Activity Related to Credit Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | |||
Balance, beginning of period | $ 7,502 | $ 7,785 | |
Additional charge on securities for which OTTI was previously recognized | [1] | 37 | 27 |
Amortization of credit component of OTTI | [2] | (69) | (36) |
Balance, end of period | $ 7,470 | $ 7,776 | |
[1] | For the three months ended March 31, 2017 and 2016, securities previously impaired represent all securities that were impaired prior to January 1, 2017 and 2016, 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 ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 25,815,173 | $ 23,960,515 |
Federal Home Loan Bank, Advances, Variable Rate | $ 12,044,718 | $ 15,970,328 |
Minimum [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
FHLB advances, outstanding interest rate | 0.66% | 0.46% |
Maximum [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
FHLB advances, outstanding interest rate | 7.41% | 7.41% |
Advances, Callable Option [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 1,927,022 | $ 6,336,280 |
Federal Home Loan Bank, Advances, Variable Rate | 1,880,337 | 6,260,837 |
Advances, Convertible Option [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 1,027,342 | $ 1,147,392 |
Advances (Advances Redemption T
Advances (Advances Redemption Terms) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Amount | ||
Due in one year or less | $ 19,160,922 | $ 12,601,183 |
Due after one year through two years | 1,886,504 | 2,019,260 |
Due after two years through three years | 975,626 | 1,073,881 |
Due after three years through four years | 1,047,470 | 781,339 |
Due after four years through five years | 673,581 | 848,112 |
Thereafter | 2,071,070 | 6,636,740 |
TOTAL PAR VALUE | 25,815,173 | 23,960,515 |
Discounts | (12,435) | (13,977) |
Hedging adjustments | 20,207 | 39,297 |
TOTAL | $ 25,822,945 | $ 23,985,835 |
Weighted Average Interest Rate | ||
Due in one year or less | 1.16% | 1.03% |
Due after one year through two years | 1.78% | 1.96% |
Due after two years through three years | 1.72% | 1.47% |
Due after three years through four years | 2.08% | 1.96% |
Due after four years through five years | 2.00% | 2.15% |
Thereafter | 2.17% | 1.19% |
Total par value | 1.37% | 1.24% |
Advances (Advances by Year if C
Advances (Advances by Year if Contractual Maturity, Next Call Date, or Next Convert Date) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Redemption Term, Year of Contractual Maturity or Next Call Date | ||
Due in one year or less | $ 20,553,148 | $ 18,411,727 |
Due after one year through two years | 1,532,082 | 1,752,403 |
Due after two years through three years | 781,753 | 750,126 |
Due after three years through four years | 960,052 | 666,059 |
Due after four years through five years | 513,340 | 755,753 |
Thereafter | 1,474,798 | 1,624,447 |
TOTAL PAR VALUE | 25,815,173 | 23,960,515 |
Redemption Term, Year of Contractual Maturity or Next Conversion Date | ||
Due in one year or less | 19,329,422 | 12,897,983 |
Due after one year through two years | 1,809,504 | 1,800,460 |
Due after two years through three years | 1,003,626 | 1,168,381 |
Due after three years through four years | 1,136,120 | 808,139 |
Due after four years through five years | 739,081 | 945,462 |
Thereafter | 1,797,420 | 6,340,090 |
TOTAL PAR VALUE | $ 25,815,173 | $ 23,960,515 |
Advances (Advances by Interest
Advances (Advances by Interest Rate Payment Terms) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Fixed rate: | ||
Due in one year or less | $ 8,496,631 | $ 2,400,382 |
Due after one year | 5,273,824 | 5,589,805 |
Total fixed rate | 13,770,455 | 7,990,187 |
Variable rate: | ||
Due in one year or less | 10,664,291 | 10,200,801 |
Due after one year | 1,380,427 | 5,769,527 |
Total variable rate | 12,044,718 | 15,970,328 |
TOTAL PAR VALUE | $ 25,815,173 | $ 23,960,515 |
Mortgage Loans (Mortgage Loans
Mortgage Loans (Mortgage Loans Held For Portfolio) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Real estate: | |||
Total unpaid principal balance | $ 6,597,275 | $ 6,536,041 | |
Premiums | 103,638 | 103,665 | |
Discounts | (2,871) | (2,276) | |
Deferred loan costs, net | 363 | 387 | |
Other deferred fees | (78) | (85) | |
Hedging adjustments | 4,238 | 4,667 | |
Total before Allowance for Credit Losses on Mortgage Loans | 6,702,565 | 6,642,399 | |
Allowance for Credit Losses on Mortgage Loans | (1,617) | (1,674) | |
MORTGAGE LOANS HELD FOR PORTFOLIO, NET | 6,700,948 | 6,640,725 | |
Fixed rates, medium-term [Member] | Single-family mortgage [Member] | |||
Real estate: | |||
Total unpaid principal balance | [1] | 1,324,034 | 1,353,938 |
Fixed rates, long-term [Member] | Single-family mortgage [Member] | |||
Real estate: | |||
Total unpaid principal balance | $ 5,273,241 | $ 5,182,103 | |
[1] | Medium-term defined as a term of 15 years or less at origination. |
Mortgage Loans (Mortgage Loan53
Mortgage Loans (Mortgage Loans Held For Portfolio by Collateral or Guarantee Type) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Mortgage Loans on Real Estate [Line Items] | ||
Total unpaid principal balance | $ 6,597,275 | $ 6,536,041 |
Government-guaranteed or insured loans [Member] | ||
Mortgage Loans on Real Estate [Line Items] | ||
Total unpaid principal balance | 651,516 | 636,117 |
Conventional Loans [Member] | ||
Mortgage Loans on Real Estate [Line Items] | ||
Total unpaid principal balance | $ 5,945,759 | $ 5,899,924 |
Allowance For Credit Losses (Na
Allowance For Credit Losses (Narrative) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Receivables [Abstract] | ||
Real estate owned | $ 2,544 | $ 2,608 |
Allowance For Credit Losses (Ro
Allowance For Credit Losses (Rollforward of Allowance For Credit Losses On Mortgage Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Allowance for credit losses: | |||
Balance, beginning of period | $ 1,674 | $ 1,972 | |
Net (charge-offs) recoveries | (12) | (108) | |
(Reversal) provision for credit losses | (45) | (257) | |
Balance, end of period | 1,617 | 1,607 | |
Allowance for credit losses, end of period: | |||
Individually evaluated for impairment | 0 | 0 | |
Collectively evaluated for impairment | 1,617 | 1,607 | |
Individually evaluated for impairment | 25,877,321 | 25,492,206 | |
Collectively evaluated for impairment | 6,722,792 | 6,430,480 | |
Total | 32,600,113 | 31,922,686 | |
Credit Products [Member] | |||
Allowance for credit losses: | |||
Balance, beginning of period | [1] | 0 | 0 |
Net (charge-offs) recoveries | [1] | 0 | 0 |
(Reversal) provision for credit losses | [1] | 0 | 0 |
Balance, end of period | [1] | 0 | 0 |
Allowance for credit losses, end of period: | |||
Individually evaluated for impairment | [1] | 0 | 0 |
Collectively evaluated for impairment | [1] | 0 | 0 |
Individually evaluated for impairment | [1] | 25,848,675 | 25,460,813 |
Collectively evaluated for impairment | [1] | 0 | 0 |
Total | [1] | 25,848,675 | 25,460,813 |
Direct Financing Lease Receivable [Member] | |||
Allowance for credit losses: | |||
Balance, beginning of period | 0 | 0 | |
Net (charge-offs) recoveries | 0 | 0 | |
(Reversal) provision for credit losses | 0 | 0 | |
Balance, end of period | 0 | 0 | |
Allowance for credit losses, end of period: | |||
Individually evaluated for impairment | 0 | 0 | |
Collectively evaluated for impairment | 0 | 0 | |
Individually evaluated for impairment | 16,763 | 19,189 | |
Collectively evaluated for impairment | 0 | 0 | |
Total | 16,763 | 19,189 | |
Government Loans [Member] | Single-family Residential Loans [Member] | |||
Allowance for credit losses: | |||
Balance, beginning of period | 0 | 0 | |
Net (charge-offs) recoveries | 0 | 0 | |
(Reversal) provision for credit losses | 0 | 0 | |
Balance, end of period | 0 | 0 | |
Allowance for credit losses, end of period: | |||
Individually evaluated for impairment | 0 | 0 | |
Collectively evaluated for impairment | 0 | 0 | |
Individually evaluated for impairment | 0 | 0 | |
Collectively evaluated for impairment | 665,794 | 643,747 | |
Total | 665,794 | 643,747 | |
Conventional Loans [Member] | Single-family Residential Loans [Member] | |||
Allowance for credit losses: | |||
Balance, beginning of period | 1,674 | 1,972 | |
Net (charge-offs) recoveries | (12) | (108) | |
(Reversal) provision for credit losses | (45) | (257) | |
Balance, end of period | 1,617 | 1,607 | |
Allowance for credit losses, end of period: | |||
Individually evaluated for impairment | 0 | 0 | |
Collectively evaluated for impairment | 1,617 | 1,607 | |
Individually evaluated for impairment | 11,883 | 12,204 | |
Collectively evaluated for impairment | 6,056,998 | 5,786,733 | |
Total | $ 6,068,881 | $ 5,798,937 | |
[1] | The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. |
Allowance For Credit Losses (Re
Allowance For Credit Losses (Recorded Investment in Delinquent Mortgage Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |||
Recorded investment: | |||||
Total past due | $ 82,958 | $ 88,730 | |||
Total current loans | 32,517,155 | 30,611,784 | |||
Total recorded investment | 32,600,113 | 30,700,514 | |||
In process of foreclosure, included above | [1] | $ 5,865 | $ 6,156 | ||
Serious delinquency rate | [2] | 0.10% | 0.10% | ||
Past due 90 days or more and still accruing interest | $ 5,728 | $ 5,185 | |||
Loans on non-accrual status | 15,323 | [3] | 15,002 | [4] | |
Troubled debt restructurings included in non-accrual loans | 1,299 | 1,327 | |||
Past due 30-59 days delinquent [Member] | |||||
Recorded investment: | |||||
Total past due | 53,458 | 57,210 | |||
Past due 60-89 days delinquent [Member] | |||||
Recorded investment: | |||||
Total past due | 11,974 | 14,365 | |||
Past due 90 days or more delinquent [Member] | |||||
Recorded investment: | |||||
Total past due | 17,526 | 17,155 | |||
Credit Products [Member] | |||||
Recorded investment: | |||||
Total past due | [5] | 0 | 0 | ||
Total current loans | [5] | 25,848,675 | 24,009,010 | ||
Total recorded investment | [5] | 25,848,675 | 24,009,010 | ||
In process of foreclosure, included above | [1],[5] | $ 0 | $ 0 | ||
Serious delinquency rate | [2],[5] | 0.00% | 0.00% | ||
Past due 90 days or more and still accruing interest | [5] | $ 0 | $ 0 | ||
Loans on non-accrual status | [5] | 0 | [3] | 0 | [4] |
Credit Products [Member] | Past due 30-59 days delinquent [Member] | |||||
Recorded investment: | |||||
Total past due | [5] | 0 | 0 | ||
Credit Products [Member] | Past due 60-89 days delinquent [Member] | |||||
Recorded investment: | |||||
Total past due | [5] | 0 | 0 | ||
Credit Products [Member] | Past due 90 days or more delinquent [Member] | |||||
Recorded investment: | |||||
Total past due | [5] | 0 | 0 | ||
Direct Financing Lease Receivable [Member] | |||||
Recorded investment: | |||||
Total past due | 0 | 0 | |||
Total current loans | 16,763 | 17,385 | |||
Total recorded investment | 16,763 | 17,385 | |||
In process of foreclosure, included above | [1] | $ 0 | $ 0 | ||
Serious delinquency rate | [2] | 0.00% | 0.00% | ||
Past due 90 days or more and still accruing interest | $ 0 | $ 0 | |||
Loans on non-accrual status | 0 | [3] | 0 | [4] | |
Direct Financing Lease Receivable [Member] | Past due 30-59 days delinquent [Member] | |||||
Recorded investment: | |||||
Total past due | 0 | 0 | |||
Direct Financing Lease Receivable [Member] | Past due 60-89 days delinquent [Member] | |||||
Recorded investment: | |||||
Total past due | 0 | 0 | |||
Direct Financing Lease Receivable [Member] | Past due 90 days or more delinquent [Member] | |||||
Recorded investment: | |||||
Total past due | 0 | 0 | |||
Government Loans [Member] | Single-family Residential Loans [Member] | |||||
Recorded investment: | |||||
Total past due | 27,270 | 28,488 | |||
Total current loans | 638,524 | 622,856 | |||
Total recorded investment | 665,794 | 651,344 | |||
In process of foreclosure, included above | [1] | $ 1,676 | $ 1,748 | ||
Serious delinquency rate | [2] | 0.90% | 0.80% | ||
Past due 90 days or more and still accruing interest | $ 5,728 | $ 5,185 | |||
Loans on non-accrual status | 0 | [3] | 0 | [4] | |
Government Loans [Member] | Single-family Residential Loans [Member] | Past due 30-59 days delinquent [Member] | |||||
Recorded investment: | |||||
Total past due | 17,008 | 16,920 | |||
Government Loans [Member] | Single-family Residential Loans [Member] | Past due 60-89 days delinquent [Member] | |||||
Recorded investment: | |||||
Total past due | 4,534 | 6,383 | |||
Government Loans [Member] | Single-family Residential Loans [Member] | Past due 90 days or more delinquent [Member] | |||||
Recorded investment: | |||||
Total past due | 5,728 | 5,185 | |||
Conventional Loans [Member] | Single-family Residential Loans [Member] | |||||
Recorded investment: | |||||
Total past due | 55,688 | 60,242 | |||
Total current loans | 6,013,193 | 5,962,533 | |||
Total recorded investment | 6,068,881 | 6,022,775 | |||
In process of foreclosure, included above | [1] | $ 4,189 | $ 4,408 | ||
Serious delinquency rate | [2] | 0.20% | 0.20% | ||
Past due 90 days or more and still accruing interest | $ 0 | $ 0 | |||
Loans on non-accrual status | 15,323 | [3] | 15,002 | [4] | |
Conventional Loans [Member] | Single-family Residential Loans [Member] | Past due 30-59 days delinquent [Member] | |||||
Recorded investment: | |||||
Total past due | 36,450 | 40,290 | |||
Conventional Loans [Member] | Single-family Residential Loans [Member] | Past due 60-89 days delinquent [Member] | |||||
Recorded investment: | |||||
Total past due | 7,440 | 7,982 | |||
Conventional Loans [Member] | Single-family Residential Loans [Member] | Past due 90 days or more delinquent [Member] | |||||
Recorded investment: | |||||
Total past due | $ 11,798 | $ 11,970 | |||
[1] | 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. | ||||
[2] | 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. | ||||
[3] | Loans on non-accrual status include $1,299,000 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. | ||||
[4] | Loans on non-accrual status include $1,327,000 of troubled debt restructurings. Troubled debt restructurings are restructurings in which the FHLBank, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. | ||||
[5] | The recorded investment for credit products includes only advances. The recorded investment for all other credit products is insignificant. |
Allowance For Credit Losses (In
Allowance For Credit Losses (Individually Evaluated Impaired Statistic By Product Class Level) (Details) - Conventional Mortgage Loan [Member] - Single-family Residential Loans [Member] - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Impaired [Line Items] | ||
With no related allowance, Recorded Investment | $ 11,883 | $ 11,834 |
With an allowance, Recorded Investment | 0 | 0 |
TOTAL, Recorded Investment | 11,883 | 11,834 |
With no related allowance, Unpaid Principal Balance | 11,805 | 11,776 |
With an allowance, Unpaid Principal Balance | 0 | 0 |
TOTAL, Unpaid Principal Balance | 11,805 | 11,776 |
With an allowance, Related Allowance | $ 0 | $ 0 |
Allowance For Credit Losses (Av
Allowance For Credit Losses (Average Recorded Investment of Individually Impaired Loan and Related Interest Income Recognized) (Details) - Conventional Mortgage Loan [Member] - Single-family Residential Loans [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | ||
With no related allowance, Average Recorded Investment | $ 11,652 | $ 11,322 |
With an allowance, Average Recorded Investment | 0 | 0 |
TOTAL, Average Recorded Investment | 11,652 | 11,322 |
With no related allowance, Interest Income Recognized | 74 | 82 |
With an allowance, Interest Income Recognized | 0 | 0 |
TOTAL, Interest Income Recognized | $ 74 | $ 82 |
Derivatives And Hedging Activ59
Derivatives And Hedging Activities (Narrative) (Details) - Uncleared derivatives [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Derivative [Line Items] | ||
Derivative instruments with credit-risk-related contingent features, aggregate fair value | $ 899 | $ 4,779 |
Derivative instruments with credit-risk-related contingent features, collateral already posted | 0 | 0 |
Derivative instruments with credit-risk-related contingent features, collateral to be posted if credit rating is lowered one level | 0 | 0 |
Counterparty One [Member] | ||
Derivative [Line Items] | ||
Maximum credit risk applicable to a single counterparty | $ 22,816 | $ 21,112 |
Derivatives And Hedging Activ60
Derivatives And Hedging Activities (Fair Values of Derivatives Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |||
Derivatives, Fair Value [Line Items] | |||||
Notional Amount | $ 12,417,676 | $ 12,773,953 | |||
TOTAL, Derivative Assets | 80,659 | 76,405 | |||
TOTAL, Derivative Liabilities | 80,990 | 106,667 | |||
Netting adjustments, cash collateral, and variation margin for daily settled contracts, Derivative Assets | [1] | (28,661) | [2],[3] | (15,505) | [4] |
Netting adjustments, cash collateral, and variation margin for daily settled contracts, Derivative Liabilities | [1] | (78,325) | [3],[5] | (99,496) | [4] |
DERIVATIVE ASSETS | 51,998 | 60,900 | |||
DERIVATIVE LIABILITIES | 2,665 | 7,171 | |||
Cash collateral posted | 84,732 | 105,481 | |||
Cash collateral received | 24,776 | 21,490 | |||
Variation Margin for Daily Settled Contracts | (10,292) | ||||
Derivatives designated as hedging instruments: [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Notional Amount | 7,726,660 | 7,896,110 | |||
TOTAL, Derivative Assets | 75,578 | 70,683 | |||
TOTAL, Derivative Liabilities | 47,825 | 65,471 | |||
Derivatives not designated as hedging instruments: [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Notional Amount | 4,691,016 | 4,877,843 | |||
TOTAL, Derivative Assets | 5,081 | 5,722 | |||
TOTAL, Derivative Liabilities | 33,165 | 41,196 | |||
Interest rate swaps [Member] | Derivatives designated as hedging instruments: [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Notional Amount | 7,726,660 | 7,896,110 | |||
TOTAL, Derivative Assets | 75,578 | 70,683 | |||
TOTAL, Derivative Liabilities | 47,825 | 65,471 | |||
Interest rate swaps [Member] | Derivatives not designated as hedging instruments: [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Notional Amount | 2,087,163 | 2,022,630 | |||
TOTAL, Derivative Assets | 1,462 | 649 | |||
TOTAL, Derivative Liabilities | 33,103 | 40,824 | |||
Interest rate caps/floors [Member] | Derivatives not designated as hedging instruments: [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Notional Amount | 2,487,400 | 2,765,200 | |||
TOTAL, Derivative Assets | 3,252 | 4,859 | |||
TOTAL, Derivative Liabilities | 0 | 0 | |||
Mortgage delivery commitments [Member] | Derivatives not designated as hedging instruments: [Member] | Mortgages [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Notional Amount | 116,453 | 90,013 | |||
TOTAL, Derivative Assets | 367 | 214 | |||
TOTAL, Derivative Liabilities | $ 62 | $ 372 | |||
[1] | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions as well as cash collateral, including initial or variation margin, and related accrued interest held or placed with the same clearing agent and/or derivative counterparty, and includes fair value adjustments on derivatives for which variation margin is characterized as a daily settled contract. Cash collateral posted was $84,732,000 and $105,481,000 as of March 31, 2017 and December 31, 2016, respectively. Cash collateral received was $24,776,000 and $21,490,000 as of March 31, 2017 and December 31, 2016, respectively. Variation margin for daily settled contracts was $(10,292,000) as of March 31, 2017. | ||||
[2] | Represents netting adjustments, cash collateral, and variation margin for daily settled contracts. | ||||
[3] | 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, related accrued interest held or placed with the same clearing agent or derivative counterparty, and variation margin for daily settled contracts. Variation margin for daily settled contracts of $(10,292,000) is included with derivative assets. | ||||
[4] | Represents the effect of legally enforceable master netting agreements that allow the FHLBank to net settle positive and negative positions and also derivative cash collateral and related accrued interest held or placed with the same clearing agent or derivative counterparty. | ||||
[5] | Represents netting adjustments and cash collateral. |
Derivatives And Hedging Activ61
Derivatives And Hedging Activities (Net Gains Or Losses On Derivatives And Hedging Activities) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net gain (loss) related to fair value hedge ineffectiveness | $ (1,330) | $ (2,490) | |
Net gain (loss) related to derivatives not designated as hedging instruments | 1,947 | (55,996) | |
Other | [1] | (14) | 0 |
NET GAIN(LOSS) ON DERIVATIVES AND HEDGING ACTIVITIES | 603 | (58,486) | |
Interest rate swaps [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net gain (loss) related to fair value hedge ineffectiveness | (1,330) | (2,490) | |
Net gain (loss) related to derivatives not designated as hedging instruments | 8,248 | (43,208) | |
Interest rate caps/floors [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net gain (loss) related to derivatives not designated as hedging instruments | (1,608) | (2,093) | |
Net interest settlements [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net gain (loss) related to derivatives not designated as hedging instruments | (5,183) | (12,244) | |
Mortgage delivery commitments [Member] | Mortgages [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net gain (loss) related to derivatives not designated as hedging instruments | $ 490 | $ 1,549 | |
[1] | Amount represents price alignment amount on derivatives for which variation margin is characterized as a daily settled contract. |
Derivatives And Hedging Activ62
Derivatives And Hedging Activities (Effect of Fair Value Hedge-Related Derivative Instruments) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on Derivatives | $ 17,178 | $ (71,653) | |
Gain (Loss) on Hedged Items | (18,508) | 69,163 | |
Net Fair Value Hedge Ineffectiveness | (1,330) | (2,490) | |
Effect of Derivatives on Net Interest Income | [1] | (13,702) | (16,284) |
Advances [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on Derivatives | 18,116 | (55,659) | |
Gain (Loss) on Hedged Items | (18,228) | 55,225 | |
Net Fair Value Hedge Ineffectiveness | (112) | (434) | |
Effect of Derivatives on Net Interest Income | [1] | (16,491) | (25,434) |
Investments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on Derivatives | 3,266 | (22,815) | |
Gain (Loss) on Hedged Items | (3,813) | 21,462 | |
Net Fair Value Hedge Ineffectiveness | (547) | (1,353) | |
Effect of Derivatives on Net Interest Income | [1] | (2,715) | (2,337) |
Consolidated Obligations Bonds [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on Derivatives | (4,220) | 6,737 | |
Gain (Loss) on Hedged Items | 3,585 | (7,153) | |
Net Fair Value Hedge Ineffectiveness | (635) | (416) | |
Effect of Derivatives on Net Interest Income | [1] | 5,519 | 11,547 |
Consolidated Obligations Discount Notes [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on Derivatives | 16 | 84 | |
Gain (Loss) on Hedged Items | (52) | (371) | |
Net Fair Value Hedge Ineffectiveness | (36) | (287) | |
Effect of Derivatives on Net Interest Income | [1] | $ (15) | $ (60) |
[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) (D
Deposits (Types Of Deposits) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Interest-bearing: | ||
Demand | $ 231,071 | $ 269,341 |
Overnight | 307,100 | 278,200 |
Total interest-bearing | 538,171 | 547,541 |
Non-interest-bearing: | ||
Demand | 41,634 | 51,390 |
Total non-interest-bearing | 41,634 | 51,390 |
TOTAL DEPOSITS | $ 579,805 | $ 598,931 |
Consolidated Obligations (Narra
Consolidated Obligations (Narrative) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Par value | $ 21,651,175 | $ 20,696,405 |
Federal Home Loan Bank, Consolidated Obligations, Callable Option [Member] | ||
Debt Instrument [Line Items] | ||
Par value | $ 6,522,000 | $ 6,097,000 |
Consolidated Obligations (Conso
Consolidated Obligations (Consolidated Bond Obligations Outstanding By Contractual Maturity) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Due in one year or less | $ 11,375,135 | $ 11,001,615 |
Due in one year or less, Weighted Average Interest Rate | 1.02% | 0.92% |
Due after one year through two years | $ 2,871,690 | $ 2,460,440 |
Due after one year through two years, Weighted Average Interest Rate | 1.40% | 1.46% |
Due after two years through three years | $ 1,092,300 | $ 1,190,750 |
Due after two years through three years, Weighted Average Interest Rate | 1.54% | 1.51% |
Due after three years through four years | $ 1,086,050 | $ 739,600 |
Due after three years through four years, Weighted Average Interest Rate | 1.55% | 1.56% |
Due after four years through five years | $ 979,600 | $ 1,215,600 |
Due after four years through five years, Weighted Average Interest Rate | 1.68% | 1.60% |
Thereafter | $ 4,246,400 | $ 4,088,400 |
Thereafter, Weighted Average Interest Rate | 2.44% | 2.39% |
Total par value | $ 21,651,175 | $ 20,696,405 |
Total par value, Weighted Average Interest Rate | 1.43% | 1.37% |
Premium | $ 23,862 | $ 26,812 |
Discounts | (2,293) | (2,342) |
Concession fees | (9,712) | (9,441) |
Hedging adjustments | 7,316 | 10,901 |
TOTAL | $ 21,670,348 | $ 20,722,335 |
Consolidated Obligations (Con66
Consolidated Obligations (Consolidated Bond Obligations By Contractual Maturity Or Next Call Date) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Debt Disclosure [Abstract] | ||
Due in one year or less | $ 17,430,135 | $ 16,581,615 |
Due after one year through two years | 2,516,690 | 2,275,440 |
Due after two years through three years | 626,300 | 694,750 |
Due after three years through four years | 366,050 | 389,600 |
Due after four years through five years | 219,600 | 190,600 |
Thereafter | 492,400 | 564,400 |
Total par value | $ 21,651,175 | $ 20,696,405 |
Consolidated Obligations (Con67
Consolidated Obligations (Consolidated Bonds By Interest-Rate Payment Type) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Debt Disclosure [Abstract] | ||
Simple variable rate | $ 10,287,000 | $ 9,537,000 |
Fixed rate | 10,224,175 | 10,164,405 |
Fixed to variable rate | 610,000 | 545,000 |
Step | 490,000 | 420,000 |
Range | 40,000 | 30,000 |
Total par value | $ 21,651,175 | $ 20,696,405 |
Consolidated Obligations (Con68
Consolidated Obligations (Consolidated Discount Notes Outstanding) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |||
Book Value | $ 22,505,730 | $ 21,775,341 | |
Par Value | $ 22,522,432 | $ 21,784,924 | |
Weighted Average Interest Rate | [1] | 0.66% | 0.47% |
[1] | Represents yield to maturity excluding concession fees. |
Assets and Liabilities Subjec69
Assets and Liabilities Subject to Offsetting Assets Subject to Offsetting (Schedule of Offsetting Assets) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |||
Offsetting Assets [Line Items] | |||||
Derivative assets, Gross Amounts of Recognized Assets | $ 80,659 | $ 76,405 | |||
Derivative assets, Gross Amounts Offset in the Statement of Condition | [1] | (28,661) | [2],[3] | (15,505) | [4] |
Total derivative assets | 51,998 | 60,900 | |||
Derivative assets, Gross Amounts Not Offset in the Statement of Condition | [5] | (367) | (214) | ||
Derivative assets, Net Amount | 51,631 | 60,686 | |||
Securities purchased under agreements to resell, Gross Amounts of Recognized Assets | 2,500,000 | 2,400,000 | |||
Securities purchased under agreements to resell, Gross Amounts Offset in the Statement of Condition | 0 | [2] | 0 | ||
Securities purchased under agreements to resell, Net Amounts of Assets Presented in the Statement of Condition | 2,500,000 | 2,400,000 | |||
Securities purchased under agreements to resell, Gross Amounts Not Offset in the Statement of Condition | [5] | (2,500,000) | (2,400,000) | ||
Securities purchased under agreements to resell, Net Amount | 0 | 0 | |||
TOTAL, Gross Amounts of Recognized Assets | 2,580,659 | 2,476,405 | |||
TOTAL, Gross Amounts Offset in the Statement of Condition | (28,661) | [2] | (15,505) | ||
TOTAL, Net Amounts of Assets Presented in the Statement of Condition | 2,551,998 | 2,460,900 | |||
TOTAL, Gross Amounts Not Offset in the Statement of Condition | [5] | (2,500,367) | (2,400,214) | ||
TOTAL, Net Amount | 51,631 | 60,686 | |||
Variation Margin for Daily Settled Contracts | (10,292) | ||||
Uncleared derivatives [Member] | |||||
Offsetting Assets [Line Items] | |||||
Derivative assets, Gross Amounts of Recognized Assets | 53,590 | 51,765 | |||
Derivative assets, Gross Amounts Offset in the Statement of Condition | (44,574) | [2] | (39,540) | ||
Total derivative assets | 9,016 | 12,225 | |||
Derivative assets, Gross Amounts Not Offset in the Statement of Condition | [5] | (367) | (214) | ||
Derivative assets, Net Amount | 8,649 | 12,011 | |||
Cleared derivatives [Member] | |||||
Offsetting Assets [Line Items] | |||||
Derivative assets, Gross Amounts of Recognized Assets | 27,069 | [6] | 24,640 | ||
Derivative assets, Gross Amounts Offset in the Statement of Condition | 15,913 | [2],[6] | 24,035 | ||
Total derivative assets | 42,982 | [6] | 48,675 | ||
Derivative assets, Gross Amounts Not Offset in the Statement of Condition | [5] | 0 | [6] | 0 | |
Derivative assets, Net Amount | $ 42,982 | [6] | $ 48,675 | ||
[1] | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions as well as cash collateral, including initial or variation margin, and related accrued interest held or placed with the same clearing agent and/or derivative counterparty, and includes fair value adjustments on derivatives for which variation margin is characterized as a daily settled contract. Cash collateral posted was $84,732,000 and $105,481,000 as of March 31, 2017 and December 31, 2016, respectively. Cash collateral received was $24,776,000 and $21,490,000 as of March 31, 2017 and December 31, 2016, respectively. Variation margin for daily settled contracts was $(10,292,000) as of March 31, 2017. | ||||
[2] | Represents netting adjustments, cash collateral, and variation margin for daily settled contracts. | ||||
[3] | 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, related accrued interest held or placed with the same clearing agent or derivative counterparty, and variation margin for daily settled contracts. Variation margin for daily settled contracts of $(10,292,000) is included with derivative assets. | ||||
[4] | 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. | ||||
[5] | 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). | ||||
[6] | Variation margin for daily settled contracts of $(10,292,000) is included with gross amounts offset in the Statement of Condition. |
Assets and Liabilities Subjec70
Assets and Liabilities Subject to Offsetting Liabilities Subject to Offsetting (Schedule of Offsetting Liabilities) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |||
Offsetting Liabilities [Line Items] | |||||
Derivative liabilities, Gross Amounts of Recognized Liabilities | $ 80,990 | $ 106,667 | |||
Derivative liabilities, Gross Amounts Offset in the Statement of Condition | [1] | (78,325) | [2],[3] | (99,496) | [4] |
Total derivative liabilities | 2,665 | 7,171 | |||
Derivative liabilities, Gross Amounts Not Offset in the Statement of Condition | [5] | (62) | (372) | ||
Derivative liabilities, Net Amount | 2,603 | 6,799 | |||
TOTAL, Gross Amounts of Recognized Liabilities | 80,990 | 106,667 | |||
TOTAL, Gross Amounts Offset in the Statement of Condition | (78,325) | [2] | (99,496) | ||
TOTAL, Net Amounts of Liabilities Presented in the Statement of Condition | 2,665 | 7,171 | |||
TOTAL, Gross Amounts Not Offset in the Statement of Condition | [5] | (62) | (372) | ||
TOTAL, Net Amount | 2,603 | 6,799 | |||
Uncleared derivatives [Member] | |||||
Offsetting Liabilities [Line Items] | |||||
Derivative liabilities, Gross Amounts of Recognized Liabilities | 56,020 | 72,039 | |||
Derivative liabilities, Gross Amounts Offset in the Statement of Condition | (53,735) | [2] | (64,868) | ||
Total derivative liabilities | 2,285 | 7,171 | |||
Derivative liabilities, Gross Amounts Not Offset in the Statement of Condition | [5] | (62) | (372) | ||
Derivative liabilities, Net Amount | 2,223 | 6,799 | |||
Cleared derivatives [Member] | |||||
Offsetting Liabilities [Line Items] | |||||
Derivative liabilities, Gross Amounts of Recognized Liabilities | 24,970 | 34,628 | |||
Derivative liabilities, Gross Amounts Offset in the Statement of Condition | (24,590) | [2] | (34,628) | ||
Total derivative liabilities | 380 | 0 | |||
Derivative liabilities, Gross Amounts Not Offset in the Statement of Condition | [5] | 0 | 0 | ||
Derivative liabilities, Net Amount | $ 380 | $ 0 | |||
[1] | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions as well as cash collateral, including initial or variation margin, and related accrued interest held or placed with the same clearing agent and/or derivative counterparty, and includes fair value adjustments on derivatives for which variation margin is characterized as a daily settled contract. Cash collateral posted was $84,732,000 and $105,481,000 as of March 31, 2017 and December 31, 2016, respectively. Cash collateral received was $24,776,000 and $21,490,000 as of March 31, 2017 and December 31, 2016, respectively. Variation margin for daily settled contracts was $(10,292,000) as of March 31, 2017. | ||||
[2] | Represents netting adjustments and cash collateral. | ||||
[3] | 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, related accrued interest held or placed with the same clearing agent or derivative counterparty, and variation margin for daily settled contracts. Variation margin for daily settled contracts of $(10,292,000) is included with derivative assets. | ||||
[4] | Represents the effect of legally enforceable master netting agreements that allow the FHLBank to net settle positive and negative positions and also derivative cash collateral and related accrued interest held or placed with the same clearing agent or derivative counterparty. | ||||
[5] | Represents noncash collateral received on financial instruments that: (1) do not qualify for netting on the Statement of Condition; or (2) are not subject to an enforceable netting agreement (e.g., mortgage delivery commitments). |
Capital (Narrative) (Details)
Capital (Narrative) (Details) | 3 Months Ended | ||
Mar. 31, 2017$ / sharesRate | Dec. 31, 2016$ / sharesRate | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Number of Finance Agency Regulatory Capital Requirements | 3 | ||
Total regulatory capital-to-asset ratio, required | Rate | 4.00% | 4.00% | |
Leverage capital ratio, required | Rate | 5.00% | 5.00% | |
Leverage capital, permanent capital weight | 1.5 | ||
Common Stock, par value per share | $ 100 | ||
Class A [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Leverage capital, non-permanent capital weight | 1 | ||
Minimum period after which redemption is required | 6 months | ||
Common Stock, par value per share | [1] | $ 100 | $ 100 |
Class B [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Minimum period after which redemption is required | 5 years | ||
Common Stock, par value per share | [1] | $ 100 | $ 100 |
Maximum [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Regulatory stock dividend payment restriction threshold | 1.00% | ||
[1] | Putable |
Capital (Regulatory Capital Req
Capital (Regulatory Capital Requirements) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Stockholders' Equity Note [Abstract] | ||
Risk-based capital, Required | $ 336,896 | $ 333,044 |
Risk-based capital, Actual | $ 1,946,691 | $ 1,800,372 |
Total regulatory capital-to-asset ratio, Required | 4.00% | 4.00% |
Total regulatory capital-to-asset ratio, Actual | 4.50% | 4.30% |
Total regulatory capital, Required | $ 1,883,645 | $ 1,808,670 |
Total regulatory capital, Actual | $ 2,122,165 | $ 1,964,541 |
Leverage capital ratio, Required | 5.00% | 5.00% |
Leverage capital ratio, Actual | 6.60% | 6.30% |
Leverage capital, Required | $ 2,354,557 | $ 2,260,837 |
Leverage capital, Actual | $ 3,095,510 | $ 2,864,727 |
Capital (Mandatorily Redeemable
Capital (Mandatorily Redeemable Capital Stock Rollforward) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Mandatorily Redeemable Capital Stock [Roll Forward] | ||
Balance, beginning of period | $ 2,670 | $ 2,739 |
Capital stock subject to mandatory redemption reclassified from equity during the period | 173,395 | 160,234 |
Redemption or repurchase of mandatorily redeemable capital stock during the period | (173,814) | (159,546) |
Stock dividend classified as mandatorily redeemable capital stock during the period | 13 | 6 |
Balance, end of period | $ 2,264 | $ 3,433 |
Capital (Mandatorily Redeemab74
Capital (Mandatorily Redeemable Capital Stock By Contractual Year Of Redemption) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |||||
Year 1 | $ 1 | $ 192 | |||
Year 2 | 1 | 1 | |||
Year 3 | 0 | 0 | |||
Year 4 | 0 | 0 | |||
Year 5 | 543 | 641 | |||
Past contractual redemption date due to remaining activity | [1] | 1,719 | 1,836 | ||
TOTAL | $ 2,264 | $ 2,670 | $ 3,433 | $ 2,739 | |
[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 Comprehensi75
Accumulated Other Comprehensive Income (Accumulated Other Comprehensive Income Or Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Accumulated Other Comprehensive Income [Roll Forward] | |||
Balance, beginning of the period | $ 577 | ||
Other comprehensive income (loss) before reclassification: | |||
Unrealized gain (loss) | 8,485 | $ 4,742 | |
Non-credit OTTI losses | (4) | (62) | |
Accretion of non-credit loss | 376 | 550 | |
Reclassifications from other comprehensive income (loss) to net income: | |||
Non-credit OTTI to credit OTTI | 37 | 25 | |
Amortization of net loss - defined benefit pension plan | 57 | 47 | |
Net current period other comprehensive income (loss) | 8,951 | 5,302 | |
Balance, end of the period | 9,528 | ||
Net Unrealized Gain (Loss) on Available-for-Sale Securities [Member] | |||
Accumulated Other Comprehensive Income [Roll Forward] | |||
Balance, beginning of the period | 9,345 | (8,577) | |
Other comprehensive income (loss) before reclassification: | |||
Unrealized gain (loss) | 8,485 | 4,742 | |
Reclassifications from other comprehensive income (loss) to net income: | |||
Net current period other comprehensive income (loss) | 8,485 | 4,742 | |
Balance, end of the period | 17,830 | (3,835) | |
Defined Benefit Pension Plan [Member] | |||
Accumulated Other Comprehensive Income [Roll Forward] | |||
Balance, beginning of the period | (2,927) | (2,450) | |
Reclassifications from other comprehensive income (loss) to net income: | |||
Amortization of net loss - defined benefit pension plan | [1] | 57 | 47 |
Net current period other comprehensive income (loss) | 57 | 47 | |
Balance, end of the period | (2,870) | (2,403) | |
Total AOCI [Member] | |||
Accumulated Other Comprehensive Income [Roll Forward] | |||
Balance, beginning of the period | 577 | (18,977) | |
Other comprehensive income (loss) before reclassification: | |||
Unrealized gain (loss) | 8,485 | 4,742 | |
Non-credit OTTI losses | (4) | (62) | |
Accretion of non-credit loss | 376 | 550 | |
Reclassifications from other comprehensive income (loss) to net income: | |||
Non-credit OTTI to credit OTTI | [2] | 37 | 25 |
Amortization of net loss - defined benefit pension plan | [1] | 57 | 47 |
Net current period other comprehensive income (loss) | 8,951 | 5,302 | |
Balance, end of the period | 9,528 | (13,675) | |
Held-to-maturity Securities [Member] | Net Non-credit Portion of OTTI Losses on Held-to-maturity Securities [Member] | |||
Accumulated Other Comprehensive Income [Roll Forward] | |||
Balance, beginning of the period | (5,841) | (7,950) | |
Other comprehensive income (loss) before reclassification: | |||
Non-credit OTTI losses | (4) | (62) | |
Accretion of non-credit loss | 376 | 550 | |
Reclassifications from other comprehensive income (loss) to net income: | |||
Non-credit OTTI to credit OTTI | [2] | 37 | 25 |
Net current period other comprehensive income (loss) | 409 | 513 | |
Balance, end of the period | $ (5,432) | $ (7,437) | |
[1] | Recorded in “Compensation and benefits” on the Statements of Income. Amount represents a debit (increase to other expenses). | ||
[2] | 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)). |
Fair Values (Fair Value Summary
Fair Values (Fair Value Summary) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |||
Assets: | |||||
Cash and due from banks | $ 108,492 | $ 207,254 | |||
Trading securities | 2,702,316 | 2,502,788 | |||
Available-for-sale securities | 1,124,924 | 1,091,721 | |||
Held-to-maturity securities, Carrying Value | [1] | 4,852,742 | 4,502,224 | ||
Held-to-maturity securities | 4,844,888 | 4,487,252 | |||
Accrued interest receivable | 72,569 | 68,400 | |||
Derivative assets | 51,998 | 60,900 | |||
Netting adjustments, cash collateral, and variation margin for daily settled contracts, Derivative Assets | [2] | (28,661) | [3],[4] | (15,505) | [5] |
Liabilities: | |||||
Accrued interest payable | 60,887 | 49,808 | |||
Derivative liabilities | 2,665 | 7,171 | |||
Netting adjustments, cash collateral, and variation margin for daily settled contracts, Derivative Liabilities | [2] | (78,325) | [4],[6] | (99,496) | [5] |
Other Asset (Liability): | |||||
Variation Margin for Daily Settled Contracts | (10,292) | ||||
Carrying Value [Member] | |||||
Assets: | |||||
Cash and due from banks | 108,492 | 207,254 | |||
Interest-bearing deposits | 401,161 | 387,920 | |||
Securities purchased under agreements to resell | 2,500,000 | 2,400,000 | |||
Federal funds sold | 2,705,000 | 2,725,000 | |||
Trading securities | 2,702,316 | 2,502,788 | |||
Available-for-sale securities | 1,124,924 | 1,091,721 | |||
Held-to-maturity securities, Carrying Value | 4,852,742 | 4,502,224 | |||
Advances | 25,822,945 | 23,985,835 | |||
Mortgage loans held for portfolio, net of allowance | 6,700,948 | 6,640,725 | |||
Overnight loans To Other FHLBanks | 600,000 | ||||
Accrued interest receivable | 72,569 | 68,400 | |||
Derivative assets | 51,998 | 60,900 | |||
Liabilities: | |||||
Deposits | 579,805 | 598,931 | |||
Mandatorily redeemable capital stock | 2,264 | 2,670 | |||
Accrued interest payable | 60,887 | 49,808 | |||
Derivative liabilities | 2,665 | 7,171 | |||
Carrying Value [Member] | Standby letters of credit [Member] | |||||
Other Asset (Liability): | |||||
Other asset (liability), liability | (1,061) | (1,151) | |||
Carrying Value [Member] | Standby bond purchase agreements [Member] | |||||
Other Asset (Liability): | |||||
Other asset (liability), liability | (32) | ||||
Other asset (liability), asset | 6 | ||||
Carrying Value [Member] | Advance commitments [Member] | |||||
Other Asset (Liability): | |||||
Other asset (liability), liability | 0 | 0 | |||
Carrying Value [Member] | Consolidated Obligation Discount Notes [Member] | |||||
Liabilities: | |||||
Consolidated obligation discount notes | 22,505,730 | 21,775,341 | |||
Carrying Value [Member] | Consolidated Obligation Bonds [Member] | |||||
Liabilities: | |||||
Consolidated obligation bonds | 21,670,348 | 20,722,335 | |||
Fair Value [Member] | |||||
Assets: | |||||
Cash and due from banks | 108,492 | 207,254 | |||
Interest-bearing deposits | 401,161 | 387,920 | |||
Securities purchased under agreements to resell | 2,500,000 | 2,400,000 | |||
Federal funds sold | 2,705,000 | 2,725,000 | |||
Trading securities | 2,702,316 | 2,502,788 | |||
Available-for-sale securities | 1,124,924 | 1,091,721 | |||
Held-to-maturity securities | 4,844,888 | 4,487,252 | |||
Advances | 25,866,229 | 24,016,686 | |||
Mortgage loans held for portfolio, net of allowance | 6,815,907 | 6,754,046 | |||
Overnight loans To Other FHLBanks | 600,000 | ||||
Accrued interest receivable | 72,569 | 68,400 | |||
Derivative assets | 51,998 | 60,900 | |||
Liabilities: | |||||
Deposits | 579,805 | 598,931 | |||
Mandatorily redeemable capital stock | 2,264 | 2,670 | |||
Accrued interest payable | 60,887 | 49,808 | |||
Derivative liabilities | 2,665 | 7,171 | |||
Fair Value [Member] | Standby letters of credit [Member] | |||||
Other Asset (Liability): | |||||
Other asset (liability), liability | (1,061) | (1,151) | |||
Fair Value [Member] | Standby bond purchase agreements [Member] | |||||
Other Asset (Liability): | |||||
Other asset (liability), asset | 5,037 | 6,016 | |||
Fair Value [Member] | Advance commitments [Member] | |||||
Other Asset (Liability): | |||||
Other asset (liability), liability | (5,690) | (6,241) | |||
Fair Value [Member] | Consolidated Obligation Discount Notes [Member] | |||||
Liabilities: | |||||
Consolidated obligation discount notes | 22,504,048 | 21,774,950 | |||
Fair Value [Member] | Consolidated Obligation Bonds [Member] | |||||
Liabilities: | |||||
Consolidated obligation bonds | 21,547,096 | 20,568,653 | |||
Level 1 [Member] | |||||
Assets: | |||||
Cash and due from banks | 108,492 | 207,254 | |||
Interest-bearing deposits | 0 | 0 | |||
Securities purchased under agreements to resell | 0 | 0 | |||
Federal funds sold | 0 | 0 | |||
Trading securities | 0 | 0 | |||
Available-for-sale securities | 0 | 0 | |||
Held-to-maturity securities | 0 | 0 | |||
Advances | 0 | 0 | |||
Mortgage loans held for portfolio, net of allowance | 0 | 0 | |||
Overnight loans To Other FHLBanks | 0 | ||||
Accrued interest receivable | 0 | 0 | |||
Derivative assets | 0 | 0 | |||
Liabilities: | |||||
Deposits | 0 | 0 | |||
Mandatorily redeemable capital stock | 2,264 | 2,670 | |||
Accrued interest payable | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Level 1 [Member] | Standby letters of credit [Member] | |||||
Other Asset (Liability): | |||||
Other asset (liability), liability | 0 | 0 | |||
Level 1 [Member] | Standby bond purchase agreements [Member] | |||||
Other Asset (Liability): | |||||
Other asset (liability), asset | 0 | 0 | |||
Level 1 [Member] | Advance commitments [Member] | |||||
Other Asset (Liability): | |||||
Other asset (liability), liability | 0 | 0 | |||
Level 1 [Member] | Consolidated Obligation Discount Notes [Member] | |||||
Liabilities: | |||||
Consolidated obligation discount notes | 0 | 0 | |||
Level 1 [Member] | Consolidated Obligation Bonds [Member] | |||||
Liabilities: | |||||
Consolidated obligation bonds | 0 | 0 | |||
Level 2 [Member] | |||||
Assets: | |||||
Cash and due from banks | 0 | 0 | |||
Interest-bearing deposits | 401,161 | 387,920 | |||
Securities purchased under agreements to resell | 2,500,000 | 2,400,000 | |||
Federal funds sold | 2,705,000 | 2,725,000 | |||
Trading securities | 2,702,316 | 2,502,788 | |||
Available-for-sale securities | 1,124,924 | 1,091,721 | |||
Held-to-maturity securities | 4,655,391 | 4,276,650 | |||
Advances | 25,866,229 | 24,016,686 | |||
Mortgage loans held for portfolio, net of allowance | 6,814,144 | 6,752,849 | |||
Overnight loans To Other FHLBanks | 600,000 | ||||
Accrued interest receivable | 72,569 | 68,400 | |||
Derivative assets | 80,659 | 76,405 | |||
Liabilities: | |||||
Deposits | 579,805 | 598,931 | |||
Mandatorily redeemable capital stock | 0 | 0 | |||
Accrued interest payable | 60,887 | 49,808 | |||
Derivative liabilities | 80,990 | 106,667 | |||
Level 2 [Member] | Standby letters of credit [Member] | |||||
Other Asset (Liability): | |||||
Other asset (liability), liability | (1,061) | (1,151) | |||
Level 2 [Member] | Standby bond purchase agreements [Member] | |||||
Other Asset (Liability): | |||||
Other asset (liability), asset | 5,037 | 6,016 | |||
Level 2 [Member] | Advance commitments [Member] | |||||
Other Asset (Liability): | |||||
Other asset (liability), liability | (5,690) | (6,241) | |||
Level 2 [Member] | Consolidated Obligation Discount Notes [Member] | |||||
Liabilities: | |||||
Consolidated obligation discount notes | 22,504,048 | 21,774,950 | |||
Level 2 [Member] | Consolidated Obligation Bonds [Member] | |||||
Liabilities: | |||||
Consolidated obligation bonds | 21,547,096 | 20,568,653 | |||
Level 3 [Member] | |||||
Assets: | |||||
Cash and due from banks | 0 | 0 | |||
Interest-bearing deposits | 0 | 0 | |||
Securities purchased under agreements to resell | 0 | 0 | |||
Federal funds sold | 0 | 0 | |||
Trading securities | 0 | 0 | |||
Available-for-sale securities | 0 | 0 | |||
Held-to-maturity securities | 189,497 | 210,602 | |||
Advances | 0 | 0 | |||
Mortgage loans held for portfolio, net of allowance | 1,763 | 1,197 | |||
Overnight loans To Other FHLBanks | 0 | ||||
Accrued interest receivable | 0 | 0 | |||
Derivative assets | 0 | 0 | |||
Liabilities: | |||||
Deposits | 0 | 0 | |||
Mandatorily redeemable capital stock | 0 | 0 | |||
Accrued interest payable | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Level 3 [Member] | Standby letters of credit [Member] | |||||
Other Asset (Liability): | |||||
Other asset (liability), liability | 0 | 0 | |||
Level 3 [Member] | Standby bond purchase agreements [Member] | |||||
Other Asset (Liability): | |||||
Other asset (liability), asset | 0 | 0 | |||
Level 3 [Member] | Advance commitments [Member] | |||||
Other Asset (Liability): | |||||
Other asset (liability), liability | 0 | 0 | |||
Level 3 [Member] | Consolidated Obligation Discount Notes [Member] | |||||
Liabilities: | |||||
Consolidated obligation discount notes | 0 | 0 | |||
Level 3 [Member] | Consolidated Obligation Bonds [Member] | |||||
Liabilities: | |||||
Consolidated obligation bonds | $ 0 | $ 0 | |||
[1] | Fair value: $4,844,888 and $4,487,252 as of March 31, 2017 and December 31, 2016, respectively. | ||||
[2] | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions as well as cash collateral, including initial or variation margin, and related accrued interest held or placed with the same clearing agent and/or derivative counterparty, and includes fair value adjustments on derivatives for which variation margin is characterized as a daily settled contract. Cash collateral posted was $84,732,000 and $105,481,000 as of March 31, 2017 and December 31, 2016, respectively. Cash collateral received was $24,776,000 and $21,490,000 as of March 31, 2017 and December 31, 2016, respectively. Variation margin for daily settled contracts was $(10,292,000) as of March 31, 2017. | ||||
[3] | Represents netting adjustments, cash collateral, and variation margin for daily settled contracts. | ||||
[4] | 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, related accrued interest held or placed with the same clearing agent or derivative counterparty, and variation margin for daily settled contracts. Variation margin for daily settled contracts of $(10,292,000) is included with derivative assets. | ||||
[5] | Represents the effect of legally enforceable master netting agreements that allow the FHLBank to net settle positive and negative positions and also derivative cash collateral and related accrued interest held or placed with the same clearing agent or derivative counterparty. | ||||
[6] | Represents netting adjustments and cash collateral. |
Fair Values (Hierarchy Level fo
Fair Values (Hierarchy Level for Financial Assets And Liabilities - Recurring And Nonrecurring) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | $ 2,702,316 | $ 2,502,788 | |||
Available-for-sale securities | 1,124,924 | 1,091,721 | |||
Total derivative assets | 51,998 | 60,900 | |||
Netting adjustments, cash collateral, and variation margin for daily settled contracts, Derivative Assets | [1] | (28,661) | [2],[3] | (15,505) | [4] |
Total derivative liabilities | 2,665 | 7,171 | |||
Netting adjustments, cash collateral, and variation margin for daily settled contracts, Derivative Liabilities | [1] | (78,325) | [3],[5] | (99,496) | [4] |
Held-to-maturity securities | 4,844,888 | 4,487,252 | |||
Certificates of Deposit [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 200,006 | 0 | |||
GSE obligations [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | [6] | 1,564,310 | 1,563,351 | ||
U.S. obligation MBS [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | [7] | 665 | 690 | ||
GSE MBS [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | [8] | 937,335 | 938,747 | ||
Residential MBS [Member] | Private-label residential MBS [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Held-to-maturity securities | 99,465 | 110,431 | |||
Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 2,702,316 | 2,502,788 | |||
Available-for-sale securities | 1,124,924 | 1,091,721 | |||
Total derivative assets | 80,659 | 76,405 | |||
Total derivative liabilities | 80,990 | 106,667 | |||
Held-to-maturity securities | 4,655,391 | 4,276,650 | |||
Mortgage loans held for portfolio | 6,814,144 | 6,752,849 | |||
Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 0 | 0 | |||
Available-for-sale securities | 0 | 0 | |||
Total derivative assets | 0 | 0 | |||
Total derivative liabilities | 0 | 0 | |||
Held-to-maturity securities | 189,497 | 210,602 | |||
Mortgage loans held for portfolio | 1,763 | 1,197 | |||
Fair Value [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 2,702,316 | 2,502,788 | |||
Available-for-sale securities | 1,124,924 | 1,091,721 | |||
Total derivative assets | 51,998 | 60,900 | |||
Total derivative liabilities | 2,665 | 7,171 | |||
Held-to-maturity securities | 4,844,888 | 4,487,252 | |||
Mortgage loans held for portfolio | 6,815,907 | 6,754,046 | |||
Recurring fair value measurements [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Netting adjustments, cash collateral, and variation margin for daily settled contracts, Derivative Assets | (28,661) | [9] | (15,505) | [4] | |
Netting adjustments, cash collateral, and variation margin for daily settled contracts, Derivative Liabilities | (78,325) | [9] | (99,496) | [4] | |
Recurring fair value measurements [Member] | Interest-rate related [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Netting adjustments, cash collateral, and variation margin for daily settled contracts, Derivative Assets | (28,661) | [9] | (15,505) | [4] | |
Netting adjustments, cash collateral, and variation margin for daily settled contracts, Derivative Liabilities | (78,325) | [9] | (99,496) | [4] | |
Recurring fair value measurements [Member] | Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 2,702,316 | 2,502,788 | |||
Available-for-sale securities | 1,124,924 | 1,091,721 | |||
Total derivative assets | 80,659 | 76,405 | |||
TOTAL FAIR VALUE MEASUREMENTS - ASSETS | 3,907,899 | 3,670,914 | |||
Total derivative liabilities | 80,990 | 106,667 | |||
TOTAL FAIR VALUE MEASUREMENTS - LIABILITIES | 80,990 | 106,667 | |||
Recurring fair value measurements [Member] | Level 2 [Member] | Interest-rate related [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total derivative assets | 80,292 | 76,191 | |||
Total derivative liabilities | 80,928 | 106,295 | |||
Recurring fair value measurements [Member] | Level 2 [Member] | Mortgage delivery commitments [Member] | Mortgages [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total derivative assets | 367 | 214 | |||
Total derivative liabilities | 62 | 372 | |||
Recurring fair value measurements [Member] | Level 2 [Member] | Certificates of Deposit [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 200,006 | ||||
Recurring fair value measurements [Member] | Level 2 [Member] | GSE obligations [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | [10] | 1,564,310 | 1,563,351 | ||
Recurring fair value measurements [Member] | Level 2 [Member] | U.S. obligation MBS [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | [11] | 665 | 690 | ||
Recurring fair value measurements [Member] | Level 2 [Member] | GSE MBS [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | [12] | 937,335 | 938,747 | ||
Available-for-sale securities | [13] | 1,124,924 | 1,091,721 | ||
Recurring fair value measurements [Member] | Fair Value [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 2,702,316 | 2,502,788 | |||
Available-for-sale securities | 1,124,924 | 1,091,721 | |||
Total derivative assets | 51,998 | 60,900 | |||
TOTAL FAIR VALUE MEASUREMENTS - ASSETS | 3,879,238 | 3,655,409 | |||
Total derivative liabilities | 2,665 | 7,171 | |||
TOTAL FAIR VALUE MEASUREMENTS - LIABILITIES | 2,665 | 7,171 | |||
Recurring fair value measurements [Member] | Fair Value [Member] | Interest-rate related [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total derivative assets | 51,631 | 60,686 | |||
Total derivative liabilities | 2,603 | 6,799 | |||
Recurring fair value measurements [Member] | Fair Value [Member] | Mortgage delivery commitments [Member] | Mortgages [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total derivative assets | 367 | 214 | |||
Total derivative liabilities | 62 | 372 | |||
Recurring fair value measurements [Member] | Fair Value [Member] | Certificates of Deposit [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 200,006 | ||||
Recurring fair value measurements [Member] | Fair Value [Member] | GSE obligations [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | [10] | 1,564,310 | 1,563,351 | ||
Recurring fair value measurements [Member] | Fair Value [Member] | U.S. obligation MBS [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | [11] | 665 | 690 | ||
Recurring fair value measurements [Member] | Fair Value [Member] | GSE MBS [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | [12] | 937,335 | 938,747 | ||
Available-for-sale securities | [13] | 1,124,924 | 1,091,721 | ||
Nonrecurring fair value measurements - Assets: [Member] | Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
TOTAL FAIR VALUE MEASUREMENTS - ASSETS | 2,871 | [14] | 7,072 | [15] | |
Mortgage loans held for portfolio | 1,769 | [14] | 1,205 | [15] | |
Real estate owned | 471 | [14] | 1,086 | [15] | |
Nonrecurring fair value measurements - Assets: [Member] | Level 3 [Member] | Residential MBS [Member] | Private-label residential MBS [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Held-to-maturity securities | 631 | [14] | 4,781 | [15] | |
Nonrecurring fair value measurements - Assets: [Member] | Fair Value [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
TOTAL FAIR VALUE MEASUREMENTS - ASSETS | 2,871 | [14] | 7,072 | [15] | |
Mortgage loans held for portfolio | 1,769 | [14] | 1,205 | [15] | |
Real estate owned | 471 | [14] | 1,086 | [15] | |
Nonrecurring fair value measurements - Assets: [Member] | Fair Value [Member] | Residential MBS [Member] | Private-label residential MBS [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Held-to-maturity securities | $ 631 | [14] | $ 4,781 | [15] | |
[1] | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions as well as cash collateral, including initial or variation margin, and related accrued interest held or placed with the same clearing agent and/or derivative counterparty, and includes fair value adjustments on derivatives for which variation margin is characterized as a daily settled contract. Cash collateral posted was $84,732,000 and $105,481,000 as of March 31, 2017 and December 31, 2016, respectively. Cash collateral received was $24,776,000 and $21,490,000 as of March 31, 2017 and December 31, 2016, respectively. Variation margin for daily settled contracts was $(10,292,000) as of March 31, 2017. | ||||
[2] | Represents netting adjustments, cash collateral, and variation margin for daily settled contracts. | ||||
[3] | 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, related accrued interest held or placed with the same clearing agent or derivative counterparty, and variation margin for daily settled contracts. Variation margin for daily settled contracts of $(10,292,000) is included with derivative assets. | ||||
[4] | 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. | ||||
[5] | Represents netting adjustments and cash collateral. | ||||
[6] | 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. | ||||
[7] | Represents single-family MBS issued by Government National Mortgage Association (Ginnie Mae), which are guaranteed by the U.S. government. | ||||
[8] | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | ||||
[9] | 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, related accrued interest held or placed with the same clearing agent or derivative counterparty, and variation margin for daily settled contracts. | ||||
[10] | 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. | ||||
[11] | Represents single-family MBS issued by Ginnie Mae, which are guaranteed by the U.S. government. | ||||
[12] | Represents single-family and multi-family MBS issued by Fannie Mae and Freddie Mac. | ||||
[13] | Represents multi-family MBS issued by Fannie Mae. | ||||
[14] | Includes assets adjusted to fair value during the three months ended March 31, 2017 and still outstanding as of March 31, 2017. | ||||
[15] | Includes assets adjusted to fair value during the year ended December 31, 2016 and still outstanding as of December 31, 2016. |
Commitments And Contingencies78
Commitments And Contingencies (Narrative) (Details) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Loss Contingencies [Line Items] | ||
Carrying value included in other liabilities | $ 102,599 | $ 64,803 |
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 |
Mortgage Delivery Commitments Derivative Asset (Liability) | $ 305 | $ (158) |
Consolidated obligations: | ||
Obligation with Joint and Several Liability Arrangement, Description | As provided by the Federal Home Loan Bank Act of 1932, as amended (Bank Act) or Finance Agency regulation, consolidated obligations are backed only by the financial resources of the FHLBanks. FHLBank Topeka is jointly and severally liable with the other 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, off balance sheet amount | $ 915,106,348 | 946,829,735 |
Standby Letters of Credit Outstanding [Member] | ||
Loss Contingencies [Line Items] | ||
Carrying value included in other liabilities | $ 1,061 | $ 1,151 |
Standby Letters of Credit Outstanding [Member] | Minimum [Member] | ||
Loss Contingencies [Line Items] | ||
Debt Instrument, original term | 4 days | 7 days |
Standby Letters of Credit Outstanding [Member] | Maximum [Member] | ||
Loss Contingencies [Line Items] | ||
Debt Instrument, original term | 10 years | 10 years |
Commitment Expiration Year | 2,020 | 2,020 |
Commitments for standby bond purchases [Member] | Maximum [Member] | ||
Loss Contingencies [Line Items] | ||
Commitment Expiration Year | 2,020 | |
Forward Settling Advance Commitments [Member] | Maximum [Member] | ||
Loss Contingencies [Line Items] | ||
Commitment Term | 24 months | |
Mortgages [Member] | Commitments to fund or purchase mortgage loans [Member] | Maximum [Member] | ||
Loss Contingencies [Line Items] | ||
Commitment Term | 60 days |
Commitments And Contingencies79
Commitments And Contingencies (Off-Balance Sheet Commitments) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Standby letters of credit outstanding [Member] | ||
Loss Contingencies [Line Items] | ||
Expire Within One Year | $ 3,208,195 | $ 2,995,497 |
Expire After One Year | 15,656 | 12,823 |
Total | 3,223,851 | 3,008,320 |
Advance commitments outstanding [Member] | ||
Loss Contingencies [Line Items] | ||
Expire Within One Year | 80,475 | 37,950 |
Expire After One Year | 15,000 | 45,025 |
Total | 95,475 | 82,975 |
Commitments for standby bond purchases [Member] | ||
Loss Contingencies [Line Items] | ||
Expire Within One Year | 413,922 | 210,349 |
Expire After One Year | 780,074 | 1,002,669 |
Total | 1,193,996 | 1,213,018 |
Commitments to issue consolidated bonds, at par [Member] | ||
Loss Contingencies [Line Items] | ||
Expire Within One Year | 72,500 | 45,000 |
Expire After One Year | 0 | 0 |
Total | 72,500 | 45,000 |
Mortgages [Member] | Commitments to fund or purchase mortgage loans [Member] | ||
Loss Contingencies [Line Items] | ||
Expire Within One Year | 116,453 | 90,013 |
Expire After One Year | 0 | 0 |
Total | $ 116,453 | $ 90,013 |
Transactions With Stockholder80
Transactions With Stockholders (Narrative) (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
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 | $ 0 |
Transactions With Stockholder81
Transactions With Stockholders (Related Party Transactions, by Balance Sheet Grouping) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Related Party Transaction [Line Items] | ||
Outstanding Advances | $ 25,822,945 | $ 23,985,835 |
Outstanding Deposits | 579,805 | 598,931 |
Ten Percent Owner [Member] | ||
Related Party Transaction [Line Items] | ||
Regulatory Capital Stock, Total Par Value | $ 505,063 | $ 418,424 |
Regulatory Capital Stock, Percent Of Total | 37.20% | 34.00% |
Outstanding Advances | $ 10,800,000 | $ 9,140,000 |
Outstanding Advances, Percent of Total | 41.80% | 38.10% |
Outstanding Deposits | $ 9,061 | $ 54,569 |
Outstanding Deposits, Percent of Total | 1.50% | 9.20% |
Ten Percent Owner [Member] | Total Class A Stock [Member] | ||
Related Party Transaction [Line Items] | ||
Regulatory Capital Stock, Total Par Value | $ 1,000 | $ 1,000 |
Regulatory Capital Stock, Percent Of Total | 0.60% | 0.60% |
Ten Percent Owner [Member] | Total Class B Stock [Member] | ||
Related Party Transaction [Line Items] | ||
Regulatory Capital Stock, Total Par Value | $ 504,063 | $ 417,424 |
Regulatory Capital Stock, Percent Of Total | 42.70% | 39.20% |
MidFirst Bank [Member] | ||
Related Party Transaction [Line Items] | ||
Regulatory Capital Stock, Total Par Value | $ 257,869 | $ 198,169 |
Regulatory Capital Stock, Percent Of Total | 19.00% | 16.10% |
Outstanding Advances | $ 5,600,000 | $ 4,340,000 |
Outstanding Advances, Percent of Total | 21.70% | 18.10% |
Outstanding Deposits | $ 245 | $ 424 |
Outstanding Deposits, Percent of Total | 0.00% | 0.10% |
MidFirst Bank [Member] | Total Class A Stock [Member] | ||
Related Party Transaction [Line Items] | ||
Regulatory Capital Stock, Total Par Value | $ 500 | $ 500 |
Regulatory Capital Stock, Percent Of Total | 0.30% | 0.30% |
MidFirst Bank [Member] | Total Class B Stock [Member] | ||
Related Party Transaction [Line Items] | ||
Regulatory Capital Stock, Total Par Value | $ 257,369 | $ 197,669 |
Regulatory Capital Stock, Percent Of Total | 21.80% | 18.60% |
Bank of Oklahoma, NA [Member] | ||
Related Party Transaction [Line Items] | ||
Regulatory Capital Stock, Total Par Value | $ 247,194 | $ 220,255 |
Regulatory Capital Stock, Percent Of Total | 18.20% | 17.90% |
Outstanding Advances | $ 5,200,000 | $ 4,800,000 |
Outstanding Advances, Percent of Total | 20.10% | 20.00% |
Outstanding Deposits | $ 8,816 | $ 54,145 |
Outstanding Deposits, Percent of Total | 1.50% | 9.10% |
Bank of Oklahoma, NA [Member] | Total Class A Stock [Member] | ||
Related Party Transaction [Line Items] | ||
Regulatory Capital Stock, Total Par Value | $ 500 | $ 500 |
Regulatory Capital Stock, Percent Of Total | 0.30% | 0.30% |
Bank of Oklahoma, NA [Member] | Total Class B Stock [Member] | ||
Related Party Transaction [Line Items] | ||
Regulatory Capital Stock, Total Par Value | $ 246,694 | $ 219,755 |
Regulatory Capital Stock, Percent Of Total | 20.90% | 20.60% |
Transactions With Stockholder82
Transactions With Stockholders (Related Party Transactions, by Balance Sheet Grouping-Directors) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Related Party Transaction [Line Items] | ||
Advances, Outstanding Amount | $ 25,822,945 | $ 23,985,835 |
Deposits, Outstanding Amount | 579,805 | 598,931 |
Director [Member] | ||
Related Party Transaction [Line Items] | ||
TOTAL CAPITAL STOCK, Outstanding Amount | $ 8,995 | $ 9,367 |
TOTAL CAPITAL STOCK, Percent Of Total | 0.70% | 0.80% |
Advances, Outstanding Amount | $ 152,607 | $ 172,793 |
Advances, Percent of Total | 0.60% | 0.70% |
Deposits, Outstanding Amount | $ 12,542 | $ 12,329 |
Deposits, Percent of Total | 2.20% | 2.10% |
Director [Member] | Class A [Member] | ||
Related Party Transaction [Line Items] | ||
TOTAL CAPITAL STOCK, Outstanding Amount | $ 4,251 | $ 3,782 |
TOTAL CAPITAL STOCK, Percent Of Total | 2.40% | 2.30% |
Director [Member] | Class B [Member] | ||
Related Party Transaction [Line Items] | ||
TOTAL CAPITAL STOCK, Outstanding Amount | $ 4,744 | $ 5,585 |
TOTAL CAPITAL STOCK, Percent Of Total | 0.40% | 0.50% |
Transactions With Stockholder83
Transactions With Stockholders (Schedule Of Related Party Transactions, Mortgage Loans Disclosure) (Details) - Director [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Related Party Transaction [Line Items] | ||
Mortgage loans acquired | $ 28,866 | $ 12,101 |
Mortgage loans aquired, Percent of Total | 10.00% | 5.50% |