Document_and_Entity_Informatio
Document and Entity Information Document | 6 Months Ended | |
Jun. 30, 2014 | Jul. 31, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Entity Registrant Name | 'Federal Home Loan Bank of Cincinnati | ' |
Entity Central Index Key | '0001326771 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 43,322,446 |
Statements_of_Condition
Statements of Condition (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
ASSETS | ' | ' | ||
Cash and due from banks | $219,048 | $8,598,933 | ||
Interest-bearing deposits | 218 | 166 | ||
Securities purchased under agreements to resell | 5,950,000 | 2,350,000 | ||
Federal funds sold | 1,105,000 | 1,740,000 | ||
Investment securities: | ' | ' | ||
Trading securities | 1,469 | 1,578 | ||
Available-for-sale securities | 2,004,981 | 2,184,879 | ||
Held-to-maturity securities (includes $0 and $0 pledged as collateral at June 30, 2014 and December 31, 2013, respectively, that may be repledged) | 15,672,940 | [1] | 16,087,162 | [1] |
Total investment securities | 17,679,390 | 18,273,619 | ||
Advances | 69,485,413 | 65,270,390 | ||
Mortgage loans held for portfolio: | ' | ' | ||
Mortgage loans held for portfolio | 6,701,699 | 6,825,523 | ||
Less: allowance for credit losses on mortgage loans | 5,441 | 7,233 | ||
Mortgage loans held for portfolio, net | 6,696,258 | 6,818,290 | ||
Accrued interest receivable | 82,057 | 85,151 | ||
Premises, software, and equipment, net | 12,488 | 13,811 | ||
Derivative assets | 5,389 | 3,241 | ||
Other assets | 23,225 | 27,101 | ||
TOTAL ASSETS | 101,258,486 | 103,180,702 | ||
LIABILITIES | ' | ' | ||
Deposits | 803,778 | 913,895 | ||
Consolidated Obligations, net: | ' | ' | ||
Discount Notes | 35,389,600 | 38,209,946 | ||
Bonds (includes $2,780,023 and $4,018,370 at fair value under fair value option at June 30, 2014 and December 31,2013, respectively) | 59,653,311 | 58,162,739 | ||
Total Consolidated Obligations, net | 95,042,911 | 96,372,685 | ||
Mandatorily redeemable capital stock | 112,272 | 115,853 | ||
Accrued interest payable | 118,032 | 116,381 | ||
Affordable Housing Program payable | 96,543 | 93,789 | ||
Derivative liabilities | 72,323 | 97,766 | ||
Other liabilities | 159,285 | 160,226 | ||
Total liabilities | 96,405,144 | 97,870,595 | ||
Commitments and contingencies | ' | ' | ||
CAPITAL | ' | ' | ||
Capital stock Class B putable ($100 par value); issued and outstanding shares: 42,145 shares at June 30, 2014 and 46,980 shares at December 31, 2013 | 4,214,480 | 4,697,985 | ||
Retained earnings: | ' | ' | ||
Unrestricted | 512,772 | 510,321 | ||
Restricted | 134,404 | 110,843 | ||
Total retained earnings | 647,176 | 621,164 | ||
Accumulated other comprehensive loss | -8,314 | -9,042 | ||
Total capital | 4,853,342 | 5,310,107 | ||
TOTAL LIABILITIES AND CAPITAL | $101,258,486 | $103,180,702 | ||
[1] | Fair values: $15,642,823 and $15,808,397 at June 30, 2014 and December 31, 2013, respectively. |
Statements_of_Condition_Parent
Statements of Condition (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Per Share data, unless otherwise specified | ||
Held-to-maturity Securities Pledged as Collateral | $0 | $0 |
Consolidated Obligations, Bonds | 2,780,023 | 4,018,370 |
Common Stock, Par or Stated Value Per Share | $100 | $100 |
Common Stock, Shares, Issued | 42,145 | 46,980 |
Common Stock, Shares, Outstanding | 42,145 | 46,980 |
Held-to-maturity Securities, Fair Value | 15,642,823 | 15,808,397 |
Consolidated Obligation Bonds [Member] | ' | ' |
Consolidated Obligations, Bonds | $2,780,023 | $4,018,370 |
Statements_of_Income
Statements of Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
INTEREST INCOME: | ' | ' | ' | ' |
Advances | $77,046 | $77,694 | $153,197 | $148,646 |
Prepayment fees on Advances, net | 1,075 | 774 | 2,071 | 1,226 |
Interest-bearing deposits | 24 | 55 | 43 | 129 |
Securities purchased under agreements to resell | 325 | 464 | 621 | 1,323 |
Federal funds sold | 1,230 | 1,570 | 2,359 | 3,571 |
Trading securities | 6 | 9 | 13 | 17 |
Available-for-sale securities | 988 | 516 | 1,748 | 546 |
Held-to-maturity securities | 88,100 | 74,871 | 177,353 | 144,497 |
Mortgage loans held for portfolio | 57,444 | 67,695 | 117,709 | 140,903 |
Loans to other FHLBanks | 0 | 1 | 0 | 4 |
Total interest income | 226,238 | 223,649 | 455,114 | 440,862 |
INTEREST EXPENSE: | ' | ' | ' | ' |
Consolidated Obligations - Discount Notes | 6,247 | 10,382 | 14,696 | 20,508 |
Consolidated Obligations - Bonds | 141,835 | 132,649 | 283,992 | 262,465 |
Deposits | 64 | 88 | 127 | 174 |
Loans from other FHLBanks | 0 | 0 | 0 | 5 |
Mandatorily redeemable capital stock | 1,158 | 1,417 | 2,351 | 3,040 |
Total interest expense | 149,304 | 144,536 | 301,166 | 286,192 |
NET INTEREST INCOME | 76,934 | 79,113 | 153,948 | 154,670 |
Reversal for credit losses | -900 | -4,000 | -900 | -6,500 |
NET INTEREST INCOME AFTER REVERSAL FOR CREDIT LOSSES | 77,834 | 83,113 | 154,848 | 161,170 |
OTHER NON-INTEREST INCOME: | ' | ' | ' | ' |
Net losses on trading securities | -2 | -5 | -4 | -4 |
Net (losses) gains on Consolidated Obligation Bonds held under fair value option | -80 | 355 | 1,280 | 887 |
Net gains (losses) on derivatives and hedging activities | 3,332 | -1,457 | 2,249 | 2,888 |
Standby Letters of Credit fees | 2,625 | 2,000 | 4,969 | 3,699 |
Other, net | 449 | 575 | 1,574 | 1,703 |
Total other non-interest income | 6,324 | 1,468 | 10,068 | 9,173 |
OTHER EXPENSE: | ' | ' | ' | ' |
Compensation and benefits | 8,448 | 7,826 | 17,734 | 16,193 |
Other operating | 4,174 | 4,216 | 8,576 | 8,200 |
Finance Agency | 1,626 | 1,088 | 3,565 | 2,176 |
Office of Finance | 1,164 | 1,122 | 2,211 | 2,211 |
Other | 1,273 | 1,416 | 1,675 | 1,903 |
Total other expense | 16,685 | 15,668 | 33,761 | 30,683 |
INCOME BEFORE ASSESSMENTS | 67,473 | 68,913 | 131,155 | 139,660 |
Affordable Housing Program Assessments | 6,863 | 7,033 | 13,351 | 14,270 |
NET INCOME | $60,610 | $61,880 | $117,804 | $125,390 |
Statements_of_Comprehensive_In
Statements of Comprehensive Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Net income | $60,610 | $61,880 | $117,804 | $125,390 |
Other comprehensive income adjustments: | ' | ' | ' | ' |
Net unrealized gains (losses) on available-for-sale securities | 141 | -39 | 102 | 5 |
Pension and postretirement benefits | 313 | 482 | 626 | 932 |
Total other comprehensive income adjustments | 454 | 443 | 728 | 937 |
Total comprehensive income | $61,064 | $62,323 | $118,532 | $126,327 |
Statement_of_Equity
Statement of Equity (USD $) | Total | Common Stock [Member] | Retained Earnings, Unrestricted [Member] | Retained Earnings, Restricted [Member] | Retained Earnings, Total [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands, unless otherwise specified | ||||||
Beginning balance at Dec. 31, 2012 | $4,536,769 | $4,010,622 | $479,253 | $58,628 | $537,881 | ($11,734) |
Shares, Issued beginning balance at Dec. 31, 2012 | ' | 40,106 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Proceeds from sale of capital stock, shares | ' | 6,984 | ' | ' | ' | ' |
Proceeds from sale of capital stock, par value | 698,395 | 698,395 | ' | ' | ' | ' |
Net shares reclassified to mandatorily redeemable capital stock, shares | ' | -186 | ' | ' | ' | ' |
Net shares reclassified to mandatorily redeemable capital stock, par value | -18,592 | -18,592 | ' | ' | ' | ' |
Comprehensive Income | 126,327 | ' | 100,312 | 25,078 | 125,390 | 937 |
Cash dividends on capital stock | -81,756 | ' | -81,756 | ' | -81,756 | ' |
Ending balance at Jun. 30, 2013 | 5,261,143 | 4,690,425 | 497,809 | 83,706 | 581,515 | -10,797 |
Shares, Issued ending balance at Jun. 30, 2013 | ' | 46,904 | ' | ' | ' | ' |
Beginning balance at Dec. 31, 2013 | 5,310,107 | 4,697,985 | 510,321 | 110,843 | 621,164 | -9,042 |
Shares, Issued beginning balance at Dec. 31, 2013 | ' | 46,980 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Proceeds from sale of capital stock, shares | ' | 310 | ' | ' | ' | ' |
Proceeds from sale of capital stock, par value | 30,970 | 30,970 | ' | ' | ' | ' |
Stock Repurchased During Period, Shares | ' | -4,979 | ' | ' | ' | ' |
Stock Repurchased During Period, Value | -497,875 | -497,875 | ' | ' | ' | ' |
Net shares reclassified to mandatorily redeemable capital stock, shares | ' | -166 | ' | ' | ' | ' |
Net shares reclassified to mandatorily redeemable capital stock, par value | -16,600 | -16,600 | ' | ' | ' | ' |
Comprehensive Income | 118,532 | ' | 94,243 | 23,561 | 117,804 | 728 |
Cash dividends on capital stock | -91,792 | ' | -91,792 | ' | -91,792 | ' |
Ending balance at Jun. 30, 2014 | $4,853,342 | $4,214,480 | $512,772 | $134,404 | $647,176 | ($8,314) |
Shares, Issued ending balance at Jun. 30, 2014 | ' | 42,145 | ' | ' | ' | ' |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
OPERATING ACTIVITIES: | ' | ' |
Net income | $117,804 | $125,390 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 2,879 | 3,567 |
Net change in fair value adjustment on derivative and hedging activities | 11,972 | 21,069 |
Net change in fair value adjustments on trading securities | 4 | 4 |
Net change in fair value adjustments on Consolidated Obligation Bonds held at fair value | -1,280 | -887 |
Other adjustments | -791 | -6,503 |
Net change in: | ' | ' |
Accrued interest receivable | 3,095 | -786 |
Other assets | 3,359 | 1,352 |
Accrued interest payable | -417 | -1,869 |
Other liabilities | 2,302 | 11,400 |
Total adjustments | 21,123 | 27,347 |
Net cash provided by operating activities | 138,927 | 152,737 |
Net change in: | ' | ' |
Interest-bearing deposits | 10,546 | 80,227 |
Securities purchased under agreements to resell | -3,600,000 | 2,350,000 |
Federal funds sold | 635,000 | -2,300,000 |
Premises, software, and equipment | -447 | -1,743 |
Trading securities: | ' | ' |
Proceeds from maturities of long-term | 106 | 173 |
Available-for-sale securities: | ' | ' |
Net decrease (increase) in short-term | 180,000 | -1,025,000 |
Held-to-maturity securities: | ' | ' |
Net decrease in short-term | 1,436 | 652 |
Proceeds from maturities of long-term | 975,121 | 1,510,639 |
Purchases of long-term | -561,789 | -3,689,311 |
Advances: | ' | ' |
Proceeds | 471,592,155 | 389,673,082 |
Made | -475,835,179 | -400,923,970 |
Mortgage loans held for portfolio: | ' | ' |
Principal collected | 490,081 | 1,204,634 |
Purchases | -383,148 | -669,177 |
Net cash used in investing activities | -6,496,118 | -13,789,794 |
FINANCING ACTIVITIES: | ' | ' |
Net decrease in deposits and pass-through reserves | -125,183 | -138,723 |
Net payments on derivative contracts with financing elements | -15,269 | -20,664 |
Net proceeds from issuance of Consolidated Obligations: | ' | ' |
Discount Notes | 113,292,004 | 91,030,553 |
Bonds | 31,755,220 | 15,352,722 |
Payments for maturing and retiring Consolidated Obligations: | ' | ' |
Discount Notes | -116,111,544 | -82,948,438 |
Bonds | -30,239,044 | -10,144,419 |
Proceeds from issuance of capital stock | 30,970 | 698,395 |
Payments for redemption of mandatorily redeemable capital stock | -20,181 | -104,420 |
Payments for repurchase of capital stock | -497,875 | 0 |
Cash dividends paid | -91,792 | -81,756 |
Net cash (used in) provided by financing activities | -2,022,694 | 13,643,250 |
Net (decrease) increase in cash and cash equivalents | -8,379,885 | 6,193 |
Cash and cash equivalents at beginning of the period | 8,598,933 | 16,423 |
Cash and cash equivalents at end of the period | 219,048 | 22,616 |
Supplemental Disclosures: | ' | ' |
Interest paid | 315,558 | 293,986 |
Affordable Housing Program payments, net | $10,597 | $7,299 |
Background_Information
Background Information | 6 Months Ended |
Jun. 30, 2014 | |
Background Information [Abstract] | ' |
Nature of Operations [Text Block] | ' |
Background Information | |
The Federal Home Loan Bank of Cincinnati (the FHLBank), a federally chartered corporation, is one of 12 District Federal Home Loan Banks (FHLBanks). The FHLBanks serve the public by enhancing the availability of credit for residential mortgages and targeted community development. The FHLBank is regulated by the Federal Housing Finance Agency (Finance Agency). |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2014 | |
Basis of Presentation [Abstract] | ' |
Basis of Presentation [Text Block] | ' |
Basis of Presentation | |
The accompanying interim financial statements of the FHLBank have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The preparation of financial statements in accordance with GAAP requires management to make assumptions and estimates. These assumptions and estimates affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of income and expenses. Actual results could differ from these estimates. The interim financial statements presented are unaudited, but they include all adjustments (consisting of only normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of the financial condition, results of operations, and cash flows for such periods. These financial statements do not include all disclosures associated with annual financial statements and accordingly should be read in conjunction with the audited financial statements and notes included in the FHLBank's annual report on Form 10-K for the year ended December 31, 2013 filed with the Securities and Exchange Commission (SEC). Results for the three and six months ended June 30, 2014 are not necessarily indicative of operating results for the full year. | |
The FHLBank presents certain financial instruments, including derivative instruments and securities purchased under agreements to resell, on a net basis when it has a legal right of offset and all other requirements for netting are met (collectively referred to as the netting requirements). For these instruments, the FHLBank has elected to offset its asset and liability positions, as well as cash collateral received or pledged, when it has met the netting requirements. The FHLBank did not have any offsetting liabilities related to its securities purchased under agreements to resell for the periods presented. | |
The net exposure for these financial instruments can change on a daily basis; therefore, there may be a delay between the time this exposure change is identified and additional collateral is requested, and the time this collateral is received or pledged. Likewise, there may be a delay for excess collateral to be returned. For derivative instruments that meet the requirements for netting, any excess cash collateral received or pledged is recognized as a derivative liability or derivative asset. Additional information regarding these agreements is provided in Note 10. Based on the fair value of the related collateral held, the securities purchased under agreements to resell were fully collateralized for the periods presented. For more information about the FHLBank's investments in securities purchased under agreements to resell, see “Item 8. Financial Statements and Supplementary Data - Note 1 - Summary of Significant Accounting Policies” in the FHLBank's 2013 Form 10-K. | |
The FHLBank has evaluated subsequent events for potential recognition or disclosure through the issuance of these financial statements and believes there have been no material subsequent events requiring additional disclosure or recognition in these financial statements. |
Recently_Issued_Accounting_Sta
Recently Issued Accounting Standards and Interpretations | 6 Months Ended |
Jun. 30, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
Recently Issued Accounting Standards and Interpretations [Text Block] | ' |
Recently Issued Accounting Standards and Interpretations | |
Repurchase-to Maturity Transactions, Repurchase Financings, and Disclosures. On June 12, 2014, the Financial Accounting Standards Board (FASB) issued amended guidance for repurchase-to-maturity transactions and repurchase agreements executed as repurchase financings. Specifically, this guidance requires entities to account for (1) repurchase-to-maturity transactions as secured borrowings rather than as sales with forward repurchase agreements; and (2) repurchase agreements executed contemporaneously with the initial transfer of the underlying financial asset with the same counterparty as separate transactions only. In addition, this guidance requires a transferor to disclose additional information about certain transactions, including those in which it retains substantially all of the exposure to the economic returns of the underlying transferred asset over the transaction’s term. This guidance becomes effective for the FHLBank for the first interim or annual period beginning after December 15, 2014. The changes in accounting for transactions outstanding on the effective date are required to be presented on a cumulative-effect approach. The FHLBank is in the process of evaluating this guidance, but its effect on the FHLBank's financial condition, results of operations, or cash flows is not expected to be material. | |
Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. On January 17, 2014, the FASB issued guidance clarifying when consumer mortgage loans collateralized by real estate should be reclassified to real estate owned. Specifically, such collateralized mortgage loans should be reclassified to real estate owned when either the creditor obtains legal title to the residential real estate property upon completion of a foreclosure, or the borrower conveys all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed-in-lieu of foreclosure or through a similar legal agreement. This guidance is effective for interim and annual periods beginning on or after December 15, 2014. The FHLBank is in the process of evaluating the effects this guidance may have on its financial condition, results of operations, or cash flows, but it is not expected to be material. | |
Joint and Several Liability Arrangements. On February 28, 2013, the FASB issued guidance for recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date. This guidance requires an entity to measure these obligations as the sum of (1) the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and (2) any additional amount the reporting entity expects to pay on behalf of its co-obligors. This guidance became effective for the FHLBank beginning on January 1, 2014. The adoption of this guidance did not effect the FHLBank's financial condition, results of operations, or cash flows. | |
Framework for Adversely Classifying Loans, Other Real Estate Owned, and Other Assets and Listing Assets for Special Mention. On April 9, 2012, the Finance Agency issued an advisory bulletin that establishes a standard and uniform methodology for adverse classification and identification of special mention assets and off-balance sheet credit exposures at the FHLBanks, excluding investment securities. The adverse classification requirements were implemented as of January 1, 2014; this implementation did not have a material effect on the FHLBank's financial condition, results of operations, or cash flows. The charge-off requirements should be implemented no later than January 1, 2015. The FHLBank is currently assessing the charge-off provisions of this advisory bulletin and has not yet determined the effect, if any, that this guidance will have on the FHLBank's financial condition, results of operations, or cash flows. |
Trading_Securities
Trading Securities | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Trading Securities [Abstract] | ' | |||||||
Trading Securities [Text Block] | ' | |||||||
Trading Securities | ||||||||
Table 3.1 - Trading Securities by Major Security Types (in thousands) | ||||||||
Fair Value | June 30, 2014 | December 31, 2013 | ||||||
Mortgage-backed securities: | ||||||||
Other U.S. obligation residential mortgage-backed securities (1) | $ | 1,469 | $ | 1,578 | ||||
Total | $ | 1,469 | $ | 1,578 | ||||
-1 | Consists of Government National Mortgage Association (Ginnie Mae) mortgage-backed securities. | |||||||
Table 3.2 - Net Losses on Trading Securities (in thousands) | ||||||||
Six Months Ended June 30, | ||||||||
2014 | 2013 | |||||||
Net losses on trading securities held at period end | $ | (4 | ) | $ | (4 | ) | ||
Net losses on trading securities | $ | (4 | ) | $ | (4 | ) |
AvailableforSale_Securities
Available-for-Sale Securities | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Available-for-sale Securities [Abstract] | ' | |||||||||||||||
Available for sale Securities [Text Block] | ' | |||||||||||||||
Available-for-Sale Securities | ||||||||||||||||
Table 4.1 - Available-for-Sale Securities by Major Security Types (in thousands) | ||||||||||||||||
June 30, 2014 | ||||||||||||||||
Amortized | Gross | Gross | Fair | |||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||
Gains | (Losses) | |||||||||||||||
Certificates of deposit | $ | 2,005,000 | $ | 18 | $ | (37 | ) | $ | 2,004,981 | |||||||
Total | $ | 2,005,000 | $ | 18 | $ | (37 | ) | $ | 2,004,981 | |||||||
December 31, 2013 | ||||||||||||||||
Amortized | Gross | Gross | Fair | |||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||
Gains | (Losses) | |||||||||||||||
Certificates of deposit | $ | 2,185,000 | $ | 1 | $ | (122 | ) | $ | 2,184,879 | |||||||
Total | $ | 2,185,000 | $ | 1 | $ | (122 | ) | $ | 2,184,879 | |||||||
All securities outstanding with gross unrealized losses at June 30, 2014 have been in a continuous unrealized loss position for less than 12 months. | ||||||||||||||||
Table 4.2 - Available-for-Sale Securities by Contractual Maturity (in thousands) | ||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||
Year of Maturity | Amortized | Fair | Amortized | Fair | ||||||||||||
Cost | Value | Cost | Value | |||||||||||||
Due in one year or less | $ | 2,005,000 | $ | 2,004,981 | $ | 2,185,000 | $ | 2,184,879 | ||||||||
Table 4.3 - Interest Rate Payment Terms of Available-for-Sale Securities (in thousands) | ||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||
Amortized cost of available-for-sale securities: | ||||||||||||||||
Fixed-rate | $ | 2,005,000 | $ | 2,185,000 | ||||||||||||
Realized Gains and Losses. The FHLBank had no sales of securities out of its available-for-sale portfolio during the six months ended June 30, 2014 or 2013. |
HeldtoMaturity_Securities
Held-to-Maturity Securities | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Held-to-maturity Securities, Unclassified [Abstract] | ' | |||||||||||||||||||||||
Held to Maturity Securities [Text Block] | ' | |||||||||||||||||||||||
Held-to-Maturity Securities | ||||||||||||||||||||||||
Table 5.1 - Held-to-Maturity Securities by Major Security Types (in thousands) | ||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Amortized Cost (1) | Gross Unrecognized Holding | Gross Unrecognized Holding (Losses) | Fair Value | |||||||||||||||||||||
Gains | ||||||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||||
U.S. Treasury obligations | $ | 26,049 | $ | 1 | $ | — | $ | 26,050 | ||||||||||||||||
Total non-mortgage-backed securities | 26,049 | 1 | — | 26,050 | ||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||
Other U.S. obligation residential | 2,184,883 | 4,558 | (11,958 | ) | 2,177,483 | |||||||||||||||||||
mortgage-backed securities (2) | ||||||||||||||||||||||||
Government-sponsored enterprises (GSE) residential mortgage-backed securities (3) | 13,462,008 | 192,935 | (215,653 | ) | 13,439,290 | |||||||||||||||||||
Total mortgage-backed securities | 15,646,891 | 197,493 | (227,611 | ) | 15,616,773 | |||||||||||||||||||
Total | $ | 15,672,940 | $ | 197,494 | $ | (227,611 | ) | $ | 15,642,823 | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Amortized Cost (1) | Gross Unrecognized Holding | Gross Unrecognized Holding (Losses) | Fair Value | |||||||||||||||||||||
Gains | ||||||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||||
GSE (4) | $ | 27,485 | $ | 1 | $ | — | $ | 27,486 | ||||||||||||||||
Total non-mortgage-backed securities | 27,485 | 1 | — | 27,486 | ||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||
Other U.S. obligation residential | 1,909,099 | 4,545 | (26,396 | ) | 1,887,248 | |||||||||||||||||||
mortgage-backed securities (2) | ||||||||||||||||||||||||
GSE residential mortgage-backed securities (3) | 14,150,578 | 141,962 | (398,877 | ) | 13,893,663 | |||||||||||||||||||
Total mortgage-backed securities | 16,059,677 | 146,507 | (425,273 | ) | 15,780,911 | |||||||||||||||||||
Total | $ | 16,087,162 | $ | 146,508 | $ | (425,273 | ) | $ | 15,808,397 | |||||||||||||||
-1 | Carrying value equals amortized cost. | |||||||||||||||||||||||
-2 | Consists of Ginnie Mae mortgage-backed securities and/or mortgage-backed securities issued or guaranteed by the National Credit Union Administration (NCUA) and the U.S. government. | |||||||||||||||||||||||
-3 | Consists of mortgage-backed securities issued and effectively guaranteed by Freddie Mac and/or Fannie Mae, which have the support of the U.S. government, although they are not obligations of the U.S. government. | |||||||||||||||||||||||
-4 | Consists of debt securities issued and effectively guaranteed by Freddie Mac and/or Fannie Mae, which have the support of the U.S. government, although they are not obligations of the U.S. government. | |||||||||||||||||||||||
Table 5.2 - Net Purchased Discounts Included in the Amortized Cost of Mortgage-backed Securities Classified as Held-to-Maturity (in thousands) | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Premiums | $ | 26,697 | $ | 32,458 | ||||||||||||||||||||
Discounts | (57,014 | ) | (58,658 | ) | ||||||||||||||||||||
Net purchased discounts | $ | (30,317 | ) | $ | (26,200 | ) | ||||||||||||||||||
Table 5.3 summarizes the held-to-maturity securities with unrealized losses, which are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. | ||||||||||||||||||||||||
Table 5.3 - Held-to-Maturity Securities in a Continuous Unrealized Loss Position (in thousands) | ||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or more | Total | ||||||||||||||||||||||
Fair Value | Gross Unrealized (Losses) | Fair Value | Gross Unrealized (Losses) | Fair Value | Gross Unrealized (Losses) | |||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||
Other U.S. obligation residential | $ | 871,376 | $ | (11,958 | ) | $ | — | $ | — | $ | 871,376 | $ | (11,958 | ) | ||||||||||
mortgage-backed securities (1) | ||||||||||||||||||||||||
GSE residential mortgage-backed securities (2) | 1,062,578 | (20,668 | ) | 5,549,321 | (194,985 | ) | 6,611,899 | (215,653 | ) | |||||||||||||||
Total | $ | 1,933,954 | $ | (32,626 | ) | $ | 5,549,321 | $ | (194,985 | ) | $ | 7,483,275 | $ | (227,611 | ) | |||||||||
December 31, 2013 | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or more | Total | ||||||||||||||||||||||
Fair Value | Gross Unrealized (Losses) | Fair Value | Gross Unrealized (Losses) | Fair Value | Gross Unrealized (Losses) | |||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||
Other U.S. obligation residential | $ | 663,278 | $ | (26,396 | ) | $ | — | $ | — | $ | 663,278 | $ | (26,396 | ) | ||||||||||
mortgage-backed securities (1) | ||||||||||||||||||||||||
GSE residential mortgage-backed securities (2) | 8,817,132 | (397,252 | ) | 48,902 | (1,625 | ) | 8,866,034 | (398,877 | ) | |||||||||||||||
Total | $ | 9,480,410 | $ | (423,648 | ) | $ | 48,902 | $ | (1,625 | ) | $ | 9,529,312 | $ | (425,273 | ) | |||||||||
-1 | Consists of Ginnie Mae mortgage-backed securities. | |||||||||||||||||||||||
-2 | Consists of mortgage-backed securities issued and effectively guaranteed by Freddie Mac and/or Fannie Mae, which have the support of the U.S. government, although they are not obligations of the U.S. government. | |||||||||||||||||||||||
Table 5.4 - Held-to-Maturity Securities by Contractual Maturity (in thousands) | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Year of Maturity | Amortized Cost (1) | Fair Value | Amortized Cost (1) | Fair Value | ||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||||
Due in 1 year or less | $ | 26,049 | $ | 26,050 | $ | 27,485 | $ | 27,486 | ||||||||||||||||
Due after 1 year through 5 years | — | — | — | — | ||||||||||||||||||||
Due after 5 years through 10 years | — | — | — | — | ||||||||||||||||||||
Due after 10 years | — | — | — | — | ||||||||||||||||||||
Total non-mortgage-backed securities | 26,049 | 26,050 | 27,485 | 27,486 | ||||||||||||||||||||
Mortgage-backed securities (2) | 15,646,891 | 15,616,773 | 16,059,677 | 15,780,911 | ||||||||||||||||||||
Total | $ | 15,672,940 | $ | 15,642,823 | $ | 16,087,162 | $ | 15,808,397 | ||||||||||||||||
-1 | Carrying value equals amortized cost. | |||||||||||||||||||||||
-2 | Mortgage-backed securities are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. | |||||||||||||||||||||||
Table 5.5 - Interest Rate Payment Terms of Held-to-Maturity Securities (in thousands) | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Amortized cost of non-mortgage-backed securities: | ||||||||||||||||||||||||
Fixed-rate | $ | 26,049 | $ | 27,485 | ||||||||||||||||||||
Total amortized cost of non-mortgage-backed securities | 26,049 | 27,485 | ||||||||||||||||||||||
Amortized cost of mortgage-backed securities: | ||||||||||||||||||||||||
Fixed-rate | 12,831,121 | 13,048,808 | ||||||||||||||||||||||
Variable-rate | 2,815,770 | 3,010,869 | ||||||||||||||||||||||
Total amortized cost of mortgage-backed securities | 15,646,891 | 16,059,677 | ||||||||||||||||||||||
Total | $ | 15,672,940 | $ | 16,087,162 | ||||||||||||||||||||
Realized Gains and Losses. From time to time the FHLBank may sell securities out of its held-to-maturity portfolio. These securities, generally, have less than 15 percent of the acquired principal outstanding at the time of the sale. These sales are considered maturities for the purposes of security classification. For the six months ended June 30, 2014 or 2013, the FHLBank did not sell any held-to-maturity securities. | ||||||||||||||||||||||||
OtherThanTemporary_Impairment_
Other-Than-Temporary Impairment Analysis | 6 Months Ended |
Jun. 30, 2014 | |
Other than Temporary Impairment Losses, Investments [Abstract] | ' |
Other than Temporary Impairment Analysis [Text Block] | ' |
Other-Than-Temporary Impairment Analysis | |
The FHLBank evaluates its individual available-for-sale and held-to-maturity investment securities holdings in an unrealized loss position for other-than-temporary impairment on a quarterly basis. As part of its evaluation for other-than-temporary impairment, the FHLBank considers its intent to sell each debt security and whether it is more likely than not that the FHLBank will be required to sell the security before its anticipated recovery. If either of these conditions is met, the FHLBank recognizes an other-than-temporary impairment in earnings equal to the entire difference between the security's amortized cost basis and its fair value at the balance sheet date. For securities in unrealized loss positions that meet neither of these conditions, the FHLBank performs analyses to determine if any of these securities are other-than-temporarily impaired. | |
For its other U.S. obligations and GSE investments (mortgage-backed securities and non-mortgage-backed securities), the FHLBank determined that the strength of the issuers' guarantees through direct obligations or support from the U.S. government is sufficient to protect the FHLBank from losses based on current expectations. As a result, the FHLBank determined that, as of June 30, 2014, all of the gross unrealized losses on these investments were temporary as the declines in market value of these securities were not attributable to credit quality. Furthermore, the FHLBank does not intend to sell the investments, and it is not more likely than not that the FHLBank will be required to sell the investments before recovery of their amortized cost bases. As a result, the FHLBank did not consider any of these investments to be other-than-temporarily impaired at June 30, 2014. | |
The FHLBank also reviewed its available-for-sale securities that have experienced unrealized losses at June 30, 2014 and determined that the unrealized losses were temporary, based on the creditworthiness of the issuers and the related collateral characteristics, and that the FHLBank will recover its entire amortized cost basis. Additionally, because the FHLBank does not intend to sell these securities, nor is it more likely than not that the FHLBank will be required to sell the securities before recovery, it did not consider the investments to be other-than-temporarily impaired at June 30, 2014. | |
The FHLBank did not consider any of its investments to be other-than-temporarily impaired at December 31, 2013. |
Advances
Advances | 6 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Advances [Abstract] | ' | ||||||||||||||
Advances [Text Block] | ' | ||||||||||||||
Advances | |||||||||||||||
The FHLBank offers a wide range of fixed- and variable-rate Advance products with different maturities, interest rates, payment characteristics and optionality. At June 30, 2014 and December 31, 2013, the FHLBank had Advances outstanding, including Affordable Housing Program (AHP) Advances (see Note 13), at interest rates ranging from 0.00 percent to 9.20 percent. Advances with interest rates of 0.00 percent are AHP Advances. The following table presents Advance redemptions by contractual maturity, including index-amortizing Advances, which are presented according to their predetermined amortization schedules. | |||||||||||||||
Table 7.1 - Advance Redemption Terms (dollars in thousands) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Redemption Term | Amount | Weighted Average Interest | Amount | Weighted Average Interest | |||||||||||
Rate | Rate | ||||||||||||||
Overdrawn demand deposit accounts | $ | 175 | 0.21 | % | $ | 150 | 0.2 | % | |||||||
Due in 1 year or less | 23,131,369 | 0.36 | 17,729,350 | 0.42 | |||||||||||
Due after 1 year through 2 years | 9,245,861 | 0.48 | 6,614,470 | 0.63 | |||||||||||
Due after 2 years through 3 years | 9,738,077 | 0.82 | 9,485,558 | 0.64 | |||||||||||
Due after 3 years through 4 years | 10,593,228 | 0.72 | 9,444,110 | 0.81 | |||||||||||
Due after 4 years through 5 years | 10,738,666 | 0.58 | 11,831,887 | 0.61 | |||||||||||
Thereafter | 5,888,419 | 1.02 | 9,987,245 | 0.78 | |||||||||||
Total par value | 69,335,795 | 0.58 | 65,092,770 | 0.62 | |||||||||||
Commitment fees | (722 | ) | (750 | ) | |||||||||||
Discount on AHP Advances | (13,549 | ) | (14,953 | ) | |||||||||||
Premiums | 3,228 | 3,413 | |||||||||||||
Discounts | (11,893 | ) | (14,104 | ) | |||||||||||
Hedging adjustments | 172,554 | 204,014 | |||||||||||||
Total | $ | 69,485,413 | $ | 65,270,390 | |||||||||||
The FHLBank offers Advances to members that may be prepaid on specified dates (call dates) without incurring prepayment or termination fees (callable Advances). In exchange for receiving the right to call the Advance on a predetermined call schedule, the member typically pays a higher rate for the Advance relative to an equivalent maturity, non-callable Advance. If the call option is exercised, replacement funding may be available. Other Advances may only be prepaid subject to a prepayment fee paid to the FHLBank that makes the FHLBank financially indifferent to the prepayment of the Advance. At June 30, 2014 and December 31, 2013, the FHLBank had callable Advances (in thousands) of $11,921,489 and $10,072,203. | |||||||||||||||
Table 7.2 - Advances by Year of Contractual Maturity or Next Call Date for Callable Advances (in thousands) | |||||||||||||||
Year of Contractual Maturity | June 30, 2014 | December 31, 2013 | |||||||||||||
or Next Call Date | |||||||||||||||
Overdrawn demand deposit accounts | $ | 175 | $ | 150 | |||||||||||
Due in 1 year or less | 29,725,047 | 25,109,451 | |||||||||||||
Due after 1 year through 2 years | 7,571,181 | 5,300,184 | |||||||||||||
Due after 2 years through 3 years | 6,897,422 | 7,149,237 | |||||||||||||
Due after 3 years through 4 years | 9,769,904 | 7,050,325 | |||||||||||||
Due after 4 years through 5 years | 9,845,547 | 10,877,078 | |||||||||||||
Thereafter | 5,526,519 | 9,606,345 | |||||||||||||
Total par value | $ | 69,335,795 | $ | 65,092,770 | |||||||||||
The FHLBank also offers putable Advances. With a putable Advance, the FHLBank effectively purchases put options from the member that allows the FHLBank to terminate the Advance at predetermined dates. The FHLBank normally would exercise its option when interest rates increase relative to contractual rates. At June 30, 2014 and December 31, 2013, the FHLBank had putable Advances, excluding those where the related put options have expired, totaling (in thousands) $2,090,900 and $2,146,400. | |||||||||||||||
Table 7.3 - Advances by Year of Contractual Maturity or Next Put/Convert Date for Putable/Convertible Advances (in thousands) | |||||||||||||||
Year of Contractual Maturity | June 30, 2014 | December 31, 2013 | |||||||||||||
or Next Put/Convert Date | |||||||||||||||
Overdrawn demand deposit accounts | $ | 175 | $ | 150 | |||||||||||
Due in 1 year or less | 24,882,269 | 19,681,750 | |||||||||||||
Due after 1 year through 2 years | 9,226,861 | 6,424,970 | |||||||||||||
Due after 2 years through 3 years | 9,224,777 | 9,338,558 | |||||||||||||
Due after 3 years through 4 years | 9,720,128 | 8,582,710 | |||||||||||||
Due after 4 years through 5 years | 10,563,166 | 11,256,887 | |||||||||||||
Thereafter | 5,718,419 | 9,807,745 | |||||||||||||
Total par value | $ | 69,335,795 | $ | 65,092,770 | |||||||||||
Table 7.4 - Advances by Interest Rate Payment Terms (in thousands) | |||||||||||||||
Par value of Advances | June 30, 2014 | December 31, 2013 | |||||||||||||
Total fixed-rate (1) | $ | 19,871,531 | $ | 15,480,817 | |||||||||||
Total variable-rate (1) | 49,464,264 | 49,611,953 | |||||||||||||
Total par value | $ | 69,335,795 | $ | 65,092,770 | |||||||||||
-1 | Payment terms based on current interest rate terms, which reflect any option exercises or rate conversions that have occurred subsequent to the related Advance issuance. | ||||||||||||||
Table 7.5 - Borrowers Holding Five Percent or more of Total Advances, Including Any Known Affiliates that are Members of the FHLBank (dollars in millions) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Principal | % of Total | Principal | % of Total | ||||||||||||
JPMorgan Chase Bank, N.A. | $ | 39,700 | 57 | % | JPMorgan Chase Bank, N.A. | $ | 41,700 | 64 | % | ||||||
U.S. Bank, N.A. | 5,467 | 8 | U.S. Bank, N.A. | 4,584 | 7 | ||||||||||
Total | $ | 45,167 | 65 | % | Total | $ | 46,284 | 71 | % | ||||||
Mortgage_Loans_Held_for_Portfo
Mortgage Loans Held for Portfolio | 6 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Mortgage Loans on Real Estate [Abstract] | ' | ||||||||||||||
Mortgage Loans Held for Portfolio [Text Block] | ' | ||||||||||||||
Mortgage Loans Held for Portfolio | |||||||||||||||
Table 8.1 - Mortgage Loans Held for Portfolio (in thousands) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Unpaid principal balance: | |||||||||||||||
Fixed rate medium-term single-family mortgage loans (1) | $ | 1,393,005 | $ | 1,482,345 | |||||||||||
Fixed rate long-term single-family mortgage loans | 5,130,859 | 5,160,854 | |||||||||||||
Total unpaid principal balance | 6,523,864 | 6,643,199 | |||||||||||||
Premiums | 171,573 | 177,180 | |||||||||||||
Discounts | (3,022 | ) | (3,631 | ) | |||||||||||
Hedging basis adjustments (2) | 9,284 | 8,775 | |||||||||||||
Total mortgage loans held for portfolio | $ | 6,701,699 | $ | 6,825,523 | |||||||||||
-1 | Medium-term is defined as a term of 15 years or less. | ||||||||||||||
-2 | Represents the unamortized balance of the mortgage purchase commitments' market values at the time of settlement. The market value of the commitment is included in the basis of the mortgage loan and amortized accordingly. | ||||||||||||||
Table 8.2 - Mortgage Loans Held for Portfolio by Collateral/Guarantee Type (in thousands) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Unpaid principal balance: | |||||||||||||||
Conventional mortgage loans | $ | 5,854,414 | $ | 5,897,804 | |||||||||||
Federal Housing Administration (FHA) mortgage loans | 669,450 | 745,395 | |||||||||||||
Total unpaid principal balance | $ | 6,523,864 | $ | 6,643,199 | |||||||||||
For information related to the FHLBank's credit risk on mortgage loans and allowance for credit losses, see Note 9. | |||||||||||||||
Table 8.3 - Members, Including Any Known Affiliates that are Members of the FHLBank, and Former Members Selling Five Percent or more of Total Unpaid Principal (dollars in millions) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Principal | % of Total | Principal | % of Total | ||||||||||||
Union Savings Bank | $ | 1,408 | 22 | % | Union Savings Bank | $ | 1,433 | 22 | % | ||||||
PNC Bank, N.A.(1) | 1,215 | 19 | PNC Bank, N.A. (1) | 1,356 | 20 | ||||||||||
The Huntington National Bank | 328 | 5 | Total | $ | 2,789 | 42 | % | ||||||||
Total | $ | 2,951 | 46 | % | |||||||||||
-1 | Former member. |
Allowance_for_Credit_Losses
Allowance for Credit Losses | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Allowance for Credit Losses [Abstract] | ' | |||||||||||||||||||||||
Allowance for Credit Losses [Text Block] | ' | |||||||||||||||||||||||
Allowance for Credit Losses | ||||||||||||||||||||||||
The FHLBank has established an allowance methodology for each of the FHLBank's portfolio segments: credit products; FHA mortgage loans held for portfolio; and conventional mortgage loans held for portfolio. | ||||||||||||||||||||||||
Credit products | ||||||||||||||||||||||||
The FHLBank manages its credit exposure to credit products through an integrated approach that includes establishing a credit limit for each borrower, includes an ongoing review of each borrower's financial condition and is coupled with detailed collateral and lending policies to limit risk of loss while balancing borrowers' needs for a reliable source of funding. In addition, the FHLBank lends to eligible borrowers in accordance with federal statutes, including the Federal Home Loan Bank Act (FHLBank Act), and Finance Agency Regulations, which require the FHLBank to obtain sufficient collateral to fully secure credit products. The estimated value of the collateral required to secure each member's credit products is calculated by applying collateral discounts, or haircuts, to the value of the collateral. The FHLBank accepts certain investment securities, residential mortgage loans, deposits, and other real estate related assets as collateral. In addition, community financial institutions (CFIs) are eligible to utilize expanded statutory collateral provisions for small business and agriculture loans. The FHLBank's capital stock owned by its member borrower is also pledged as collateral. Collateral arrangements and a member’s borrowing capacity vary based on the financial condition and performance of the institution, the types of collateral pledged and the overall quality of those assets. The FHLBank can also require additional or substitute collateral to protect its security interest. Management of the FHLBank believes that these policies effectively manage the FHLBank's credit risk from credit products. | ||||||||||||||||||||||||
Members experiencing financial difficulties are subject to FHLBank-performed “stress tests” of the impact of poorly performing assets on the member’s capital and loss reserve positions. Depending on the results of these tests and the level of overcollateralization, a member may be allowed to maintain pledged loan assets in its custody, may be required to deliver those loans into the custody of the FHLBank or its agent, and/or may be required to provide details on these loans to facilitate an estimate of their fair value. The FHLBank perfects its security interest in all pledged collateral. The FHLBank Act affords any security interest granted to the FHLBank by a member priority over the claims or rights of any other party except for claims or rights of a third party that would be entitled to priority under otherwise applicable law and that are held by a bona fide purchaser for value or by a secured party holding a prior perfected security interest. | ||||||||||||||||||||||||
Using a risk-based approach, the FHLBank considers the payment status, collateralization levels, and borrower's financial condition to be indicators of credit quality for its credit products. At June 30, 2014 and December 31, 2013, the FHLBank had rights to collateral on a member-by-member basis with an estimated value in excess of its outstanding extensions of credit. | ||||||||||||||||||||||||
The FHLBank evaluates and makes changes to its collateral guidelines, as necessary, based on current market conditions. At June 30, 2014 and December 31, 2013, the FHLBank did not have any Advances that were past due, in non-accrual status, or impaired. In addition, there were no troubled debt restructurings related to credit products of the FHLBank during the six months ended June 30, 2014 or 2013. | ||||||||||||||||||||||||
The FHLBank has not experienced any credit losses on Advances since it was founded in 1932. Based upon the collateral held as security, its credit extension and collateral policies, management's credit analysis and the repayment history on credit products, the FHLBank did not record any credit losses on credit products as of June 30, 2014 or December 31, 2013. Accordingly, the FHLBank did not record any allowance for credit losses on Advances. | ||||||||||||||||||||||||
At June 30, 2014 and December 31, 2013, no liability to reflect an allowance for credit losses for off-balance sheet credit exposures was recorded. See Note 19 for additional information on the FHLBank's off-balance sheet credit exposure. | ||||||||||||||||||||||||
Mortgage Loans Held for Portfolio - FHA | ||||||||||||||||||||||||
The FHLBank invests in fixed-rate mortgage loans secured by one-to-four family residential properties insured by the FHA. Any losses from such loans are expected to be recovered from the FHA. Any losses from these loans that are not recovered from the FHA would be due to a claim rejection by the FHA and, as such, would be recoverable from the selling participating financial institutions (PFIs). Therefore, the FHLBank only has credit risk for these loans if the seller or servicer fails to pay for losses not covered by insurance. As a result, the FHLBank did not establish an allowance for credit losses on its FHA insured mortgage loans. Furthermore, due to the insurance, none of these mortgage loans have been placed on non-accrual status. | ||||||||||||||||||||||||
Mortgage Loans Held for Portfolio - Conventional Mortgage Purchase Program (MPP) | ||||||||||||||||||||||||
The allowance for conventional loans is determined by analyses that include consideration of various data observations such as past performance, current performance, loan portfolio characteristics, collateral-related characteristics, industry data, and prevailing economic conditions. The measurement of the allowance for credit losses consists of: (1) collectively evaluating homogeneous pools of residential mortgage loans; (2) reviewing specifically identified loans for impairment; and (3) considering other relevant qualitative factors. | ||||||||||||||||||||||||
Collectively Evaluated Mortgage Loans. The credit risk analysis of conventional loans evaluated collectively for impairment considers historical delinquency migration, applies estimated loss severities, and incorporates the associated credit enhancements in order to determine the FHLBank's best estimate of probable incurred losses at the reporting date. The credit risk analysis of all conventional mortgage loans is performed at the individual Master Commitment Contract level to properly determine the credit enhancements available to recover losses on loans under each individual Master Commitment Contract. The Master Commitment Contract is an agreement with a member in which the member agrees to make every attempt to sell a specific dollar amount of loans to the FHLBank over a one-year period. Migration analysis is a methodology for determining, through the FHLBank's experience over a historical period, the rate of default on loans. The FHLBank applies migration analysis to loans based on payment status categories such as current, 30, 60, and 90 days past due. The FHLBank then estimates, based on historical experience, how many loans in these categories may migrate to a loss realization event and applies a current loss severity to estimate losses. The estimated losses are then reduced by the probable cash flows resulting from credit enhancements available. Any credit enhancement cash flows that are projected and assessed as not probable of receipt do not reduce estimated losses. | ||||||||||||||||||||||||
Individually Evaluated Mortgage Loans. Conventional mortgage loans that are considered troubled debt restructurings are specifically identified for purposes of calculating the allowance for credit losses. The FHLBank measures impairment of these specifically identified loans by either estimating the present value of expected cash flows, estimating the loan's observable market price, or estimating the fair value of the collateral if the loan is collateral dependent. Specifically identified loans evaluated for impairment are removed from the collectively evaluated mortgage loan population. | ||||||||||||||||||||||||
Qualitative Factors. The FHLBank also assesses other qualitative factors in its estimation of loan losses for the collectively evaluated population. This amount represents a subjective management judgment, based on facts and circumstances that exist as of the reporting date, that is intended to cover other incurred losses that may not otherwise be captured in the methodology described above. | ||||||||||||||||||||||||
Rollforward of Allowance for Credit Losses on Mortgage Loans. The following tables present a rollforward of the allowance for credit losses on conventional mortgage loans as well as the recorded investment in mortgage loans by impairment methodology. The recorded investment in a loan is the unpaid principal balance of the loan adjusted for accrued interest, unamortized premiums or discounts, hedging basis adjustments and direct write-downs. The recorded investment is not net of any allowance. | ||||||||||||||||||||||||
Table 9.1 - Rollforward of Allowance for Credit Losses on Conventional Mortgage Loans (in thousands) | ||||||||||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||||||||||
Allowance for credit losses: | 2014 | 2013 | ||||||||||||||||||||||
Balance, beginning of period | $ | 6,655 | $ | 14,832 | ||||||||||||||||||||
Charge-offs | (314 | ) | (1,656 | ) | ||||||||||||||||||||
Reversal for credit losses | (900 | ) | (4,000 | ) | ||||||||||||||||||||
Balance, end of period | $ | 5,441 | $ | 9,176 | ||||||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||
Allowance for credit losses: | 2014 | 2013 | ||||||||||||||||||||||
Balance, beginning of period | $ | 7,233 | $ | 17,907 | ||||||||||||||||||||
Charge-offs | (892 | ) | (2,231 | ) | ||||||||||||||||||||
Reversal for credit losses | (900 | ) | (6,500 | ) | ||||||||||||||||||||
Balance, end of period | $ | 5,441 | $ | 9,176 | ||||||||||||||||||||
Table 9.2 - Allowance for Credit Losses and Recorded Investment on Conventional Mortgage Loans by Impairment Methodology (in thousands) | ||||||||||||||||||||||||
Allowance for credit losses, end of period: | June 30, 2014 | December 31, 2013 | ||||||||||||||||||||||
Collectively evaluated for impairment | $ | 5,315 | $ | 7,159 | ||||||||||||||||||||
Individually evaluated for impairment | $ | 126 | $ | 74 | ||||||||||||||||||||
Recorded investment, end of period: | ||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 6,035,908 | $ | 6,082,636 | ||||||||||||||||||||
Individually evaluated for impairment | 8,055 | 7,799 | ||||||||||||||||||||||
Total recorded investment | $ | 6,043,963 | $ | 6,090,435 | ||||||||||||||||||||
Credit Enhancements. The conventional mortgage loans under the MPP are supported by some combination of credit enhancements (primary mortgage insurance (PMI), supplemental mortgage insurance (SMI) and the Lender Risk Account (LRA), including pooled LRA for those members participating in an aggregated MPP pool). The amount of credit enhancements needed to protect the FHLBank against credit losses is determined through use of a third-party default model. These credit enhancements apply after a homeowner's equity is exhausted. Beginning in February 2011, the FHLBank discontinued the use of SMI for all new loan purchases and replaced it with expanded use of the LRA. The LRA is funded by the FHLBank as a portion of the purchase proceeds to cover expected losses. Excess funds over required balances are distributed to the member in accordance with a step-down schedule that is established upon execution of a Master Commitment Contract, subject to performance of the related loan pool. The LRA established for a pool of loans is limited to only covering losses of that specific pool of loans. | ||||||||||||||||||||||||
Table 9.3 - Changes in the LRA (in thousands) | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
LRA at beginning of year | $ | 115,236 | ||||||||||||||||||||||
Additions | 5,777 | |||||||||||||||||||||||
Claims | (1,185 | ) | ||||||||||||||||||||||
Scheduled distributions | (1,745 | ) | ||||||||||||||||||||||
LRA at end of period | $ | 118,083 | ||||||||||||||||||||||
Credit Quality Indicators. Key credit quality indicators for mortgage loans include the migration of past due loans, non-accrual loans, and loans in process of foreclosure. The table below summarizes the FHLBank's key credit quality indicators for mortgage loans. | ||||||||||||||||||||||||
Table 9.4 - Recorded Investment in Delinquent Mortgage Loans (dollars in thousands) | ||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Conventional MPP Loans | FHA Loans | Total | ||||||||||||||||||||||
Past due 30-59 days delinquent | $ | 36,995 | $ | 39,237 | $ | 76,232 | ||||||||||||||||||
Past due 60-89 days delinquent | 10,427 | 12,217 | 22,644 | |||||||||||||||||||||
Past due 90 days or more delinquent | 48,550 | 28,259 | 76,809 | |||||||||||||||||||||
Total past due | 95,972 | 79,713 | 175,685 | |||||||||||||||||||||
Total current mortgage loans | 5,947,991 | 602,025 | 6,550,016 | |||||||||||||||||||||
Total mortgage loans | $ | 6,043,963 | $ | 681,738 | $ | 6,725,701 | ||||||||||||||||||
Other delinquency statistics: | ||||||||||||||||||||||||
In process of foreclosure, included above (1) | $ | 40,528 | $ | 16,894 | $ | 57,422 | ||||||||||||||||||
Serious delinquency rate (2) | 0.82 | % | 4.19 | % | 1.17 | % | ||||||||||||||||||
Past due 90 days or more still accruing interest (3) | $ | 47,869 | $ | 28,259 | $ | 76,128 | ||||||||||||||||||
Loans on non-accrual status, included above | $ | 2,778 | $ | — | $ | 2,778 | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Conventional MPP Loans | FHA Loans | Total | ||||||||||||||||||||||
Past due 30-59 days delinquent | $ | 48,619 | $ | 53,305 | $ | 101,924 | ||||||||||||||||||
Past due 60-89 days delinquent | 11,971 | 18,963 | 30,934 | |||||||||||||||||||||
Past due 90 days or more delinquent | 57,934 | 32,942 | 90,876 | |||||||||||||||||||||
Total past due | 118,524 | 105,210 | 223,734 | |||||||||||||||||||||
Total current mortgage loans | 5,971,911 | 654,399 | 6,626,310 | |||||||||||||||||||||
Total mortgage loans | $ | 6,090,435 | $ | 759,609 | $ | 6,850,044 | ||||||||||||||||||
Other delinquency statistics: | ||||||||||||||||||||||||
In process of foreclosure, included above (1) | $ | 46,285 | $ | 18,595 | $ | 64,880 | ||||||||||||||||||
Serious delinquency rate (2) | 0.96 | % | 4.41 | % | 1.34 | % | ||||||||||||||||||
Past due 90 days or more still accruing interest (3) | $ | 57,543 | $ | 32,942 | $ | 90,485 | ||||||||||||||||||
Loans on non-accrual status, included above | $ | 3,077 | $ | — | $ | 3,077 | ||||||||||||||||||
-1 | Includes loans where the decision of foreclosure or a 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 (including past due or current loans in the process of foreclosure) expressed as a percentage of the total loan portfolio class recorded investment amount. | |||||||||||||||||||||||
-3 | Each conventional loan past due 90 days or more still accruing interest is on a schedule/scheduled monthly settlement basis and contains one or more credit enhancements. Loans that are well secured and in the process of collection as a result of remaining credit enhancements and schedule/scheduled settlement are not placed on non-accrual status. | |||||||||||||||||||||||
The FHLBank did not have any real estate owned at June 30, 2014 or December 31, 2013. | ||||||||||||||||||||||||
Troubled Debt Restructurings. A troubled debt restructuring is considered to have occurred when a concession is granted to a borrower for economic or legal reasons related to the borrower's financial difficulties and that concession would not have been considered otherwise. The FHLBank's troubled debt restructurings primarily involve loans where an agreement permits the recapitalization of past due amounts up to the original loan amount and certain loans discharged in Chapter 7 bankruptcy. The FHLBank had 46 and 42 modified loans considered troubled debt restructurings at June 30, 2014 and December 31, 2013, respectively. | ||||||||||||||||||||||||
A loan considered a troubled debt restructuring is individually evaluated for impairment when determining its related allowance for credit losses. Credit loss is measured by factoring in expected cash shortfalls (i.e., loss severity rate) incurred as of the reporting date. | ||||||||||||||||||||||||
Table 9.5 - Recorded Investment in Troubled Debt Restructurings (in thousands) | ||||||||||||||||||||||||
Troubled debt restructurings: | June 30, 2014 | December 31, 2013 | ||||||||||||||||||||||
Conventional MPP Loans | $ | 8,055 | $ | 7,799 | ||||||||||||||||||||
Due to the minimal change in terms of modified loans (i.e., no principal forgiven), the FHLBank's pre-modification recorded investment was not materially different than the post-modification recorded investment in troubled debt restructurings. | ||||||||||||||||||||||||
Certain conventional MPP loans that were modified within the previous 12 months and considered troubled debt restructurings experienced a payment default as noted in the table below. A borrower is considered to have defaulted on a troubled debt restructuring if the borrower's contractually due principal or interest is 60 days or more past due at any time during the periods presented. | ||||||||||||||||||||||||
Table 9.6 - Recorded Investment of Financing Receivables Modified within the Previous 12 Months and Considered Troubled Debt Restructurings that Subsequently Defaulted (in thousands) | ||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Defaulted troubled debt restructurings: | ||||||||||||||||||||||||
Conventional MPP Loans | $ | 554 | $ | — | $ | 554 | $ | — | ||||||||||||||||
Modified loans that subsequently default may recognize a higher probability of loss when calculating the allowance for credit losses. | ||||||||||||||||||||||||
Individually Evaluated Impaired Loans. At June 30, 2014 and December 31, 2013, only certain conventional MPP loans individually evaluated for impairment required an allowance for credit losses. Table 9.7 presents the recorded investment, unpaid principal balance, and related allowance associated with these loans. | ||||||||||||||||||||||||
Table 9.7 - Individually Evaluated Impaired Loan Statistics by Product Class Level (in thousands) | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Conventional MPP loans: | Recorded Investment | Unpaid Principal Balance | Related Allowance | Recorded Investment | Unpaid Principal Balance | Related Allowance | ||||||||||||||||||
With no related | $ | 5,277 | $ | 5,159 | $ | — | $ | 4,959 | $ | 4,828 | $ | — | ||||||||||||
allowance | ||||||||||||||||||||||||
With an allowance | 2,778 | 2,744 | 126 | 2,840 | 2,801 | 74 | ||||||||||||||||||
Total | $ | 8,055 | $ | 7,903 | $ | 126 | $ | 7,799 | $ | 7,629 | $ | 74 | ||||||||||||
Table 9.8 - Average Recorded Investment of Individually Evaluated Impaired Loans and Related Interest Income Recognized (in thousands) | ||||||||||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Individually impaired loans: | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||
Conventional MPP Loans | $ | 7,969 | $ | 104 | $ | 6,709 | $ | 90 | ||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Individually impaired loans: | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||
Conventional MPP Loans | $ | 7,839 | $ | 204 | $ | 6,281 | $ | 168 | ||||||||||||||||
Derivatives_and_Hedging_Activi
Derivatives and Hedging Activities | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||
Derivatives and Hedging Activities [Text Block] | ' | |||||||||||||||
Derivatives and Hedging Activities | ||||||||||||||||
Nature of Business Activity | ||||||||||||||||
The FHLBank is exposed to interest rate risk primarily from the effect of interest rate changes on its interest-earning assets and on the funding sources that finance these assets. The goal of the FHLBank's interest-rate risk management strategy is not to eliminate interest-rate risk, but to manage it within appropriate limits. To mitigate the risk of loss, the FHLBank has established policies and procedures, which include guidelines on the amount of exposure to interest rate changes it is willing to accept. In addition, the FHLBank monitors the risk to its interest income, net interest margin and average maturity of interest-earning assets and funding sources. | ||||||||||||||||
The FHLBank transacts most of its derivatives with large banks and major broker-dealers. Some of these banks and broker-dealers or their affiliates buy, sell, and distribute Consolidated Obligations. Derivative transactions may be either executed with a counterparty (bilateral derivatives) or cleared through a Futures Commission Merchant (i.e., clearing agent), with a Derivative Clearing Organization (cleared derivatives). | ||||||||||||||||
Once a derivative transaction has been accepted for clearing by a Derivative Clearing Organization (Clearinghouse), the derivative transaction is novated and the executing counterparty is replaced with the Clearinghouse. The Clearinghouse notifies the clearing agent of the required initial and variation margin and the clearing agent notifies the FHLBank of the required initial and variation margin. | ||||||||||||||||
Consistent with Finance Agency Regulations, the FHLBank enters into derivatives to manage the interest rate risk exposures inherent in otherwise unhedged assets and funding positions, to achieve the FHLBank's risk management objectives and to act as an intermediary between its members and counterparties. The use of derivatives is an integral part of the FHLBank's financial management strategy. However, Finance Agency Regulations and the FHLBank's financial management policy prohibit trading in, or the speculative use of, derivative instruments and limit credit risk arising from them. | ||||||||||||||||
The most common ways in which the FHLBank uses derivatives are to: | ||||||||||||||||
▪ | reduce the interest rate sensitivity and repricing gaps of assets and liabilities; | |||||||||||||||
▪ | manage embedded options in assets and liabilities; | |||||||||||||||
▪ | reduce funding costs by combining a derivative with a Consolidated Obligation Bond, as the cost of a combined funding structure can be lower than the cost of a comparable Consolidated Obligation Bond; | |||||||||||||||
▪ | preserve a favorable interest rate spread between the yield of an asset (e.g., an Advance) and the cost of the related liability (e.g., the Consolidated Obligation Bond used to fund the Advance); without the use of derivatives, this interest rate spread could be reduced or eliminated when a change in the interest rate on the Advance does not match a change in the interest rate on the Bond; and | |||||||||||||||
▪ | protect the value of existing asset or liability positions. | |||||||||||||||
Types of Derivatives | ||||||||||||||||
The FHLBank may enter into interest rate swaps (including callable and putable swaps), swaptions, interest rate cap and floor agreements, calls, puts, futures, and forward contracts to manage its exposure to changes in interest rates. | ||||||||||||||||
An interest rate swap is an agreement between two entities to exchange cash flows in the future. The agreement sets the dates on which the cash flows will be paid and the manner in which the cash flows will be calculated. One of the simplest forms of an interest rate swap involves the promise by one party to pay cash flows equivalent to the interest on a notional principal amount at a predetermined fixed rate for a given period of time. In return for this promise, this party receives cash flows equivalent to the interest on the same notional principal amount at a variable-rate index for the same period of time. The variable-rate transacted by the FHLBank in its derivatives is the London Interbank Offered Rate (LIBOR). | ||||||||||||||||
Application of Interest Rate Swaps | ||||||||||||||||
The FHLBank generally uses derivatives as fair value hedges of underlying financial instruments. However, because the FHLBank uses interest rate swaps when they are considered to be the most cost-effective alternative to achieve the FHLBank's financial and risk management objectives, it may enter into interest rate swaps that do not necessarily qualify for hedge accounting (economic hedges). The FHLBank re-evaluates its hedging strategies from time to time and may change the hedging techniques it uses or adopt new strategies. | ||||||||||||||||
Types of Hedged Items | ||||||||||||||||
The FHLBank documents at inception all relationships between derivatives designated as hedging instruments and the hedged items, its risk management objectives and strategies for undertaking various hedge transactions, and its method of assessing effectiveness. This process includes linking all derivatives that are designated as fair value hedges to assets and liabilities on the Statements of Condition. The FHLBank also formally assesses (both at the hedge's inception and at least quarterly) whether the derivatives that are used in hedging transactions have been effective in offsetting changes in the fair value of the hedged items and whether those derivatives may be expected to remain effective in future periods. The FHLBank currently uses regression analyses to assess the effectiveness of its hedges. The types of assets and liabilities currently hedged with derivatives are: | ||||||||||||||||
▪ | Consolidated Obligations | |||||||||||||||
▪ | Advances | |||||||||||||||
▪ | Firm Commitments | |||||||||||||||
Financial Statement Effect and Additional Financial Information | ||||||||||||||||
The notional amount of derivatives serves as a factor in determining periodic interest payments or cash flows received and paid. The notional amount reflects the FHLBanks' involvement in the various classes of financial instruments and represents neither the actual amounts exchanged nor the overall exposure of the FHLBank to credit and market risk; the overall risk is much smaller. The risks of derivatives only can be measured meaningfully on a portfolio basis that takes into account the derivatives, the items being hedged and any offsets between the derivatives and the items being hedged. | ||||||||||||||||
Table 10.1 summarizes the fair value of derivative instruments, including the effect of netting adjustments and cash collateral. For purposes of this disclosure, the derivative values include the fair value of derivatives and the related accrued interest. | ||||||||||||||||
Table 10.1 - Fair Value of Derivative Instruments (in thousands) | ||||||||||||||||
June 30, 2014 | ||||||||||||||||
Notional Amount of Derivatives | Derivative Assets | Derivative Liabilities | ||||||||||||||
Derivatives designated as fair value hedging instruments: | ||||||||||||||||
Interest rate swaps | $ | 3,987,415 | $ | 27,066 | $ | 183,504 | ||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||
Interest rate swaps | 2,908,000 | 1,224 | 6,854 | |||||||||||||
Forward rate agreements | 321,000 | 20 | 2,986 | |||||||||||||
Mortgage delivery commitments | 429,399 | 3,813 | 47 | |||||||||||||
Total derivatives not designated as hedging instruments | 3,658,399 | 5,057 | 9,887 | |||||||||||||
Total derivatives before netting and collateral adjustments | $ | 7,645,814 | 32,123 | 193,391 | ||||||||||||
Netting adjustments | (28,323 | ) | (28,323 | ) | ||||||||||||
Cash collateral and related accrued interest | 1,589 | (92,745 | ) | |||||||||||||
Total collateral and netting adjustments (1) | (26,734 | ) | (121,068 | ) | ||||||||||||
Total derivative assets and total derivative liabilities | $ | 5,389 | $ | 72,323 | ||||||||||||
December 31, 2013 | ||||||||||||||||
Notional Amount of Derivatives | Derivative Assets | Derivative Liabilities | ||||||||||||||
Derivatives designated as fair value hedging instruments: | ||||||||||||||||
Interest rate swaps | $ | 4,517,340 | $ | 36,061 | $ | 215,691 | ||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||
Interest rate swaps | 4,143,000 | 2,928 | 7,732 | |||||||||||||
Forward rate agreements | 31,000 | 454 | — | |||||||||||||
Mortgage delivery commitments | 36,620 | 2 | 412 | |||||||||||||
Total derivatives not designated as hedging instruments | 4,210,620 | 3,384 | 8,144 | |||||||||||||
Total derivatives before netting and collateral adjustments | $ | 8,727,960 | 39,445 | 223,835 | ||||||||||||
Netting adjustments | (36,204 | ) | (36,204 | ) | ||||||||||||
Cash collateral and related accrued interest | — | (89,865 | ) | |||||||||||||
Total collateral and netting adjustments (1) | (36,204 | ) | (126,069 | ) | ||||||||||||
Total derivative assets and total derivative liabilities | $ | 3,241 | $ | 97,766 | ||||||||||||
-1 | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLBank with the same counterparty. | |||||||||||||||
Table 10.2 presents the components of net gains (losses) on derivatives and hedging activities as presented in the Statements of Income. | ||||||||||||||||
Table 10.2 - Net Gains (Losses) on Derivatives and Hedging Activities (in thousands) | ||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Derivatives and hedged items in fair value hedging relationships: | ||||||||||||||||
Interest rate swaps | $ | 869 | $ | 2,015 | ||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||
Economic hedges: | ||||||||||||||||
Interest rate swaps | 851 | 1,815 | ||||||||||||||
Forward rate agreements | (5,585 | ) | — | |||||||||||||
Net interest settlements | (319 | ) | (243 | ) | ||||||||||||
Mortgage delivery commitments | 7,516 | (5,044 | ) | |||||||||||||
Total net gains (losses) related to derivatives not designated as hedging instruments | 2,463 | (3,472 | ) | |||||||||||||
Net gains (losses) on derivatives and hedging activities | $ | 3,332 | $ | (1,457 | ) | |||||||||||
Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Derivatives and hedged items in fair value hedging relationships: | ||||||||||||||||
Interest rate swaps | $ | 1,153 | $ | 4,937 | ||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||
Economic hedges: | ||||||||||||||||
Interest rate swaps | 1,008 | 6,046 | ||||||||||||||
Forward rate agreements | (6,081 | ) | — | |||||||||||||
Net interest settlements | (70 | ) | 170 | |||||||||||||
Mortgage delivery commitments | 6,239 | (8,265 | ) | |||||||||||||
Total net gains (losses) related to derivatives not designated as hedging instruments | 1,096 | (2,049 | ) | |||||||||||||
Net gains on derivatives and hedging activities | $ | 2,249 | $ | 2,888 | ||||||||||||
Table 10.3 presents by type of hedged item, the gains (losses) 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. | ||||||||||||||||
Table 10.3 - Effect of Fair Value Hedge Related Derivative Instruments (in thousands) | ||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||
2014 | Gain/(Loss) on Derivative | Gain/(Loss) on Hedged Item | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income(1) | ||||||||||||
Hedged Item Type: | ||||||||||||||||
Advances | $ | 11,611 | $ | (11,108 | ) | $ | 503 | $ | (23,902 | ) | ||||||
Consolidated Bonds | (3,278 | ) | 3,644 | 366 | 4,629 | |||||||||||
Total | $ | 8,333 | $ | (7,464 | ) | $ | 869 | $ | (19,273 | ) | ||||||
2013 | ||||||||||||||||
Hedged Item Type: | ||||||||||||||||
Advances | $ | 68,359 | $ | (66,374 | ) | $ | 1,985 | $ | (28,336 | ) | ||||||
Consolidated Bonds | (9,407 | ) | 9,437 | 30 | 7,522 | |||||||||||
Total | $ | 58,952 | $ | (56,937 | ) | $ | 2,015 | $ | (20,814 | ) | ||||||
Six Months Ended June 30, | ||||||||||||||||
2014 | Gain/(Loss) on Derivative | Gain/(Loss) on Hedged Item | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income(1) | ||||||||||||
Hedged Item Type: | ||||||||||||||||
Advances | $ | 30,327 | $ | (29,572 | ) | $ | 755 | $ | (48,270 | ) | ||||||
Consolidated Bonds | (7,387 | ) | 7,785 | 398 | 9,481 | |||||||||||
Total | $ | 22,940 | $ | (21,787 | ) | $ | 1,153 | $ | (38,789 | ) | ||||||
2013 | ||||||||||||||||
Hedged Item Type: | ||||||||||||||||
Advances | $ | 108,779 | $ | (104,157 | ) | $ | 4,622 | $ | (57,088 | ) | ||||||
Consolidated Bonds | (18,054 | ) | 18,369 | 315 | 16,010 | |||||||||||
Total | $ | 90,725 | $ | (85,788 | ) | $ | 4,937 | $ | (41,078 | ) | ||||||
-1 | The net interest on derivatives in fair value hedge relationships is included in the interest income/expense line item of the respective hedged item. | |||||||||||||||
Offsetting of Derivative Assets and Derivative Liabilities | ||||||||||||||||
The FHLBank presents derivative instruments, related cash collateral, including initial and variation margin, received or pledged, and associated accrued interest, on a net basis by clearing agent and/or by counterparty when it has met the netting requirements. | ||||||||||||||||
Table 10.4 presents separately the fair value of derivative instruments meeting or not meeting netting requirements, including the related collateral received from or pledged to counterparties. At June 30, 2014 and December 31, 2013, the FHLBank did not receive or pledge any non-cash collateral. Any overcollateralization under an individual clearing agent and/or counterparty level is not included in the determination of the net unsecured amount. | ||||||||||||||||
Table 10.4 - Offsetting of Derivative Assets and Derivative Liabilities (in thousands) | ||||||||||||||||
June 30, 2014 | ||||||||||||||||
Derivative Assets | Derivative Liabilities | |||||||||||||||
Derivative instruments meeting netting requirements: | ||||||||||||||||
Gross recognized amount: | ||||||||||||||||
Bilateral derivatives | $ | 28,064 | $ | 189,860 | ||||||||||||
Cleared derivatives | 226 | 498 | ||||||||||||||
Total gross recognized amount | 28,290 | 190,358 | ||||||||||||||
Gross amounts of netting adjustments and cash collateral: | ||||||||||||||||
Bilateral derivatives | (27,826 | ) | (120,570 | ) | ||||||||||||
Cleared derivatives | 1,092 | (498 | ) | |||||||||||||
Total gross amounts of netting adjustments and cash collateral | (26,734 | ) | (121,068 | ) | ||||||||||||
Net amounts after netting adjustments and cash collateral: | ||||||||||||||||
Bilateral derivatives | 238 | 69,290 | ||||||||||||||
Cleared derivatives | 1,318 | — | ||||||||||||||
Total net amounts after netting adjustments and cash collateral | 1,556 | 69,290 | ||||||||||||||
Derivative instruments not meeting netting requirements(1): | ||||||||||||||||
Bilateral derivatives | 3,833 | 3,033 | ||||||||||||||
Total derivative instruments not meeting netting requirements(1) | 3,833 | 3,033 | ||||||||||||||
Total derivative assets and total derivative liabilities: | ||||||||||||||||
Bilateral derivatives | 4,071 | 72,323 | ||||||||||||||
Cleared derivatives | 1,318 | — | ||||||||||||||
Total derivative assets and total derivative liabilities | $ | 5,389 | $ | 72,323 | ||||||||||||
December 31, 2013 | ||||||||||||||||
Derivative Assets | Derivative Liabilities | |||||||||||||||
Derivative instruments meeting netting requirements: | ||||||||||||||||
Gross recognized amount | $ | 38,989 | $ | 223,423 | ||||||||||||
Gross amounts of netting adjustments and cash collateral | (36,204 | ) | (126,069 | ) | ||||||||||||
Net amounts after netting adjustments and cash collateral | 2,785 | 97,354 | ||||||||||||||
Derivative instruments not meeting netting requirements(1) | 456 | 412 | ||||||||||||||
Total derivative assets and total derivative liabilities | $ | 3,241 | $ | 97,766 | ||||||||||||
-1 | Represents mortgage delivery commitments and forward rate agreements that are not subject to an enforceable netting agreement. | |||||||||||||||
Managing Credit Risk on Derivatives | ||||||||||||||||
The FHLBank is subject to credit risk due to the risk of nonperformance by counterparties to its derivative transactions, and manages credit risk through credit analysis, collateral requirements and adherence to the requirements set forth in its policies, U.S. Commodity Futures Trading Commission regulations, and Finance Agency regulations. For bilateral derivatives, the degree of credit risk depends on the extent to which master netting arrangements are included in these contracts to mitigate the risk. The FHLBank requires collateral agreements with collateral delivery thresholds on the majority of its bilateral derivatives. | ||||||||||||||||
For cleared derivatives, the Clearinghouse is the FHLBank's counterparty. The requirement that the FHLBank post initial and variation margin through the clearing agent, to the Clearinghouse, exposes the FHLBank to credit risk if the clearing agent or the Clearinghouse fails to meet its obligations. The use of cleared derivatives is intended to mitigate credit risk exposure because a central counterparty is substituted for individual counterparties and collateral is posted daily through a clearing agent, for changes in the value of cleared derivatives. | ||||||||||||||||
The FHLBank has analyzed the enforceability of offsetting rights incorporated in its cleared derivative transactions and determined that the exercise of those offsetting rights by a non-defaulting party under these transactions should be upheld under applicable law upon an event of default including bankruptcy, insolvency, or similar proceeding involving the Clearinghouse or the FHLBank's clearing agent, or both. Based on this analysis, the FHLBank presents a net derivative receivable or payable for all of its transactions through a particular clearing agent with a particular Clearinghouse. | ||||||||||||||||
Certain of the FHLBank's bilateral interest rate swap contracts contain provisions that require the FHLBank to post additional collateral with its counterparties if there is deterioration in the FHLBank's credit ratings. The aggregate fair value of all bilateral interest rate swaps with credit-risk-related contingent features that were in a liability position at June 30, 2014 was (in thousands) $162,035, for which the FHLBank had posted collateral with a fair value of (in thousands) $92,745 in the normal course of business. | ||||||||||||||||
If one of the FHLBank's credit ratings had been lowered to the next lower rating that would have triggered additional collateral to be delivered, the FHLBank would have been required to deliver up to an additional (in thousands) $13,157 of collateral at fair value to its derivatives counterparties at June 30, 2014. | ||||||||||||||||
For cleared derivatives, the Clearinghouse determines initial margin requirements and generally credit ratings are not factored into the initial margin. However, clearing agents may require additional initial margin to be posted based on credit considerations, including, but not limited to, credit rating downgrades. The FHLBank was not required to post additional initial margin by its clearing agents at June 30, 2014. |
Deposits
Deposits | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Deposits [Abstract] | ' | |||||||
Deposit [Text Block] | ' | |||||||
Deposits | ||||||||
Table 11.1- Deposits (in thousands) | ||||||||
June 30, 2014 | December 31, 2013 | |||||||
Interest bearing: | ||||||||
Demand and overnight | $ | 711,524 | $ | 796,039 | ||||
Term | 86,050 | 96,100 | ||||||
Other | 5,954 | 5,872 | ||||||
Total interest bearing | 803,528 | 898,011 | ||||||
Non-interest bearing: | ||||||||
Other | 250 | 15,884 | ||||||
Total non-interest bearing | 250 | 15,884 | ||||||
Total deposits | $ | 803,778 | $ | 913,895 | ||||
The average interest rate paid on interest bearing deposits was 0.03 percent in each of the three- and six-month periods ended June 30, 2014 and 2013. | ||||||||
The aggregate amount of time deposits with a denomination of $100 thousand or more was (in thousands) $86,000 and $96,000 as of June 30, 2014 and December 31, 2013, respectively. |
Consolidated_Obligations
Consolidated Obligations | 6 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||
Consolidated Obligations [Text Block] | ' | ||||||||||||||
Consolidated Obligations | |||||||||||||||
Table 12.1 - Consolidated Bonds Outstanding by Contractual Maturity (dollars in thousands) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Year of Contractual Maturity | Amount | Weighted Average Interest Rate | Amount | Weighted Average Interest Rate | |||||||||||
Due in 1 year or less | $ | 25,741,500 | 0.36 | % | $ | 35,691,500 | 0.34 | % | |||||||
Due after 1 year through 2 years | 13,674,000 | 0.46 | 2,802,000 | 1.66 | |||||||||||
Due after 2 years through 3 years | 3,518,000 | 1.9 | 3,295,000 | 2.12 | |||||||||||
Due after 3 years through 4 years | 4,392,000 | 1.56 | 3,689,000 | 1.67 | |||||||||||
Due after 4 years through 5 years | 3,000,000 | 1.95 | 3,415,000 | 1.86 | |||||||||||
Thereafter | 9,187,000 | 2.68 | 9,102,000 | 2.66 | |||||||||||
Index amortizing notes | 28,702 | 5.07 | 32,746 | 5.07 | |||||||||||
Total par value | 59,541,202 | 1 | 58,027,246 | 1.04 | |||||||||||
Premiums | 113,714 | 123,820 | |||||||||||||
Discounts | (24,926 | ) | (22,781 | ) | |||||||||||
Hedging adjustments | 23,298 | 31,084 | |||||||||||||
Fair value option valuation adjustment and | 23 | 3,370 | |||||||||||||
accrued interest | |||||||||||||||
Total | $ | 59,653,311 | $ | 58,162,739 | |||||||||||
Table 12.2 - Consolidated Discount Notes Outstanding (dollars in thousands) | |||||||||||||||
Book Value | Par Value | Weighted Average Interest Rate (1) | |||||||||||||
30-Jun-14 | $ | 35,389,600 | $ | 35,391,576 | 0.06 | % | |||||||||
31-Dec-13 | $ | 38,209,946 | $ | 38,216,860 | 0.09 | % | |||||||||
-1 | Represents an implied rate without consideration of concessions. | ||||||||||||||
Table 12.3 - Consolidated Bonds Outstanding by Features (in thousands) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Par value of Consolidated Bonds: | |||||||||||||||
Non-callable | $ | 49,669,202 | $ | 46,670,246 | |||||||||||
Callable | 9,872,000 | 11,357,000 | |||||||||||||
Total par value | $ | 59,541,202 | $ | 58,027,246 | |||||||||||
Table 12.4 - Consolidated Bonds Outstanding by Contractual Maturity or Next Call Date (in thousands) | |||||||||||||||
Year of Contractual Maturity or Next Call Date | June 30, 2014 | December 31, 2013 | |||||||||||||
Due in 1 year or less | $ | 32,013,500 | $ | 41,493,500 | |||||||||||
Due after 1 year through 2 years | 14,284,000 | 3,827,000 | |||||||||||||
Due after 2 years through 3 years | 2,968,000 | 2,915,000 | |||||||||||||
Due after 3 years through 4 years | 2,840,000 | 2,427,000 | |||||||||||||
Due after 4 years through 5 years | 2,035,000 | 2,095,000 | |||||||||||||
Thereafter | 5,372,000 | 5,237,000 | |||||||||||||
Index amortizing notes | 28,702 | 32,746 | |||||||||||||
Total par value | $ | 59,541,202 | $ | 58,027,246 | |||||||||||
Table 12.5 - Consolidated Bonds by Interest-rate Payment Type (in thousands) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Par value of Consolidated Bonds: | |||||||||||||||
Fixed-rate | $ | 28,601,202 | $ | 29,362,246 | |||||||||||
Variable-rate | 30,910,000 | 28,650,000 | |||||||||||||
Step-up | 30,000 | 15,000 | |||||||||||||
Total par value | $ | 59,541,202 | $ | 58,027,246 | |||||||||||
Concessions on Consolidated Obligations. Unamortized concessions included in other assets were (in thousands) $15,431 and $15,947 at June 30, 2014 and December 31, 2013. The amortization of these concessions is included in Consolidated Obligation interest expense and totaled (in thousands) $2,015 and $1,894 during the three months ended June 30, 2014 and 2013, respectively, and (in thousands) $3,804 and $3,627 during the six months ended June 30, 2014 and 2013, respectively. |
Affordable_Housing_Program_AHP
Affordable Housing Program (AHP) | 6 Months Ended | |||
Jun. 30, 2014 | ||||
Affordable Housing Program (AHP) [Abstract] | ' | |||
Affordable Housing Program (AHP) [Text Block] | ' | |||
Affordable Housing Program (AHP) | ||||
Table 13.1 - Analysis of the FHLBank's AHP Liability (in thousands) | ||||
Balance at December 31, 2013 | $ | 93,789 | ||
Assessments (current year additions) | 13,351 | |||
Subsidy uses, net | (10,597 | ) | ||
Balance at June 30, 2014 | $ | 96,543 | ||
Capital
Capital | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Capital [Abstract] | ' | |||||||||||||||
Capital [Text Block] | ' | |||||||||||||||
Capital | ||||||||||||||||
Table 14.1 - Capital Requirements (dollars in thousands) | ||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||
Minimum Requirement | Actual | Minimum Requirement | Actual | |||||||||||||
Risk-based capital | $ | 491,095 | $ | 4,973,928 | $ | 547,455 | $ | 5,435,002 | ||||||||
Capital-to-assets ratio (regulatory) | 4 | % | 4.91 | % | 4 | % | 5.27 | % | ||||||||
Regulatory capital | $ | 4,050,339 | $ | 4,973,928 | $ | 4,127,228 | $ | 5,435,002 | ||||||||
Leverage capital-to-assets ratio (regulatory) | 5 | % | 7.37 | % | 5 | % | 7.9 | % | ||||||||
Leverage capital | $ | 5,062,924 | $ | 7,460,892 | $ | 5,159,035 | $ | 8,152,503 | ||||||||
Restricted Retained Earnings. At June 30, 2014 and December 31, 2013 the FHLBank had (in thousands) $134,404 and $110,843 in restricted retained earnings. These restricted retained earnings are not available to pay dividends but are available to absorb unexpected losses, if any, that the FHLBank may experience. | ||||||||||||||||
Table 14.2 - Mandatorily Redeemable Capital Stock Roll Forward (in thousands) | ||||||||||||||||
Balance, December 31, 2013 | $ | 115,853 | ||||||||||||||
Capital stock subject to mandatory redemption reclassified | 16,600 | |||||||||||||||
from equity | ||||||||||||||||
Redemption (or other reduction) of mandatorily redeemable | (20,181 | ) | ||||||||||||||
capital stock | ||||||||||||||||
Balance, June 30, 2014 | $ | 112,272 | ||||||||||||||
Table 14.3 - Mandatorily Redeemable Capital Stock by Contractual Year of Redemption (in thousands) | ||||||||||||||||
Contractual Year of Redemption | June 30, 2014 | December 31, 2013 | ||||||||||||||
Due in 1 year or less | $ | 107,530 | $ | 114,531 | ||||||||||||
Due after 1 year through 2 years | — | 130 | ||||||||||||||
Due after 2 years through 3 years | — | — | ||||||||||||||
Due after 3 years through 4 years | — | — | ||||||||||||||
Due after 4 years through 5 years | 2,371 | 71 | ||||||||||||||
Past contractual redemption date due to remaining activity(1) | 2,371 | 1,121 | ||||||||||||||
Total par value | $ | 112,272 | $ | 115,853 | ||||||||||||
-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_Comprehensiv
Accumulated Other Comprehensive (Loss) Income | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||
Accumulated Other Comprehensive (Loss) Income [Text Block] | ' | |||||||||||
Accumulated Other Comprehensive (Loss) Income | ||||||||||||
The following tables summarize the changes in accumulated other comprehensive (loss) income for the three and six months ended June 30, 2014 and 2013. | ||||||||||||
Table 15.1 - Accumulated Other Comprehensive (Loss) Income (in thousands) | ||||||||||||
Net unrealized gains (losses) on available-for-sale securities | Pension and postretirement benefits | Total accumulated other comprehensive (loss) income | ||||||||||
BALANCE, MARCH 31, 2013 | $ | 44 | $ | (11,284 | ) | $ | (11,240 | ) | ||||
Other comprehensive income before reclassification: | ||||||||||||
Net unrealized losses | (39 | ) | — | (39 | ) | |||||||
Reclassifications from other comprehensive income to net income: | ||||||||||||
Amortization - pension and postretirement benefits | — | 482 | 482 | |||||||||
Net current period other comprehensive income | (39 | ) | 482 | 443 | ||||||||
BALANCE, JUNE 30, 2013 | $ | 5 | $ | (10,802 | ) | $ | (10,797 | ) | ||||
BALANCE, MARCH 31, 2014 | $ | (160 | ) | $ | (8,608 | ) | $ | (8,768 | ) | |||
Other comprehensive income before reclassification: | ||||||||||||
Net unrealized gains | 141 | — | 141 | |||||||||
Reclassifications from other comprehensive income to net income: | ||||||||||||
Amortization - pension and postretirement benefits | — | 313 | 313 | |||||||||
Net current period other comprehensive income | 141 | 313 | 454 | |||||||||
BALANCE, JUNE 30, 2014 | $ | (19 | ) | $ | (8,295 | ) | $ | (8,314 | ) | |||
Net unrealized gains (losses) on available-for-sale securities | Pension and postretirement benefits | Total accumulated other comprehensive (loss) income | ||||||||||
BALANCE, DECEMBER 31, 2012 | $ | — | $ | (11,734 | ) | $ | (11,734 | ) | ||||
Other comprehensive income before reclassification: | ||||||||||||
Net unrealized gains | 5 | — | 5 | |||||||||
Reclassifications from other comprehensive income to net income: | ||||||||||||
Amortization - pension and postretirement benefits | — | 932 | 932 | |||||||||
Net current period other comprehensive income | 5 | 932 | 937 | |||||||||
BALANCE, JUNE 30, 2013 | $ | 5 | $ | (10,802 | ) | $ | (10,797 | ) | ||||
BALANCE, DECEMBER 31, 2013 | $ | (121 | ) | $ | (8,921 | ) | $ | (9,042 | ) | |||
Other comprehensive income before reclassification: | ||||||||||||
Net unrealized gains | 102 | — | 102 | |||||||||
Reclassifications from other comprehensive income to net income: | ||||||||||||
Amortization - pension and postretirement benefits | — | 626 | 626 | |||||||||
Net current period other comprehensive income | 102 | 626 | 728 | |||||||||
BALANCE, JUNE 30, 2014 | $ | (19 | ) | $ | (8,295 | ) | $ | (8,314 | ) |
Pension_and_Postretirement_Ben
Pension and Postretirement Benefit Plans | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||
Pension and Postretirement Benefit Plans [Text Block] | ' | |||||||||||||||
Pension and Postretirement Benefit Plans | ||||||||||||||||
Qualified Defined Benefit Multi-employer Plan. The FHLBank participates in the Pentegra Defined Benefit Plan for Financial Institutions (Pentegra Defined Benefit Plan), a tax-qualified defined benefit pension plan. Under the Pentegra Defined Benefit Plan, contributions made by one participating employer may be used to provide benefits to employees of other participating employers because assets contributed by an employer are not segregated in a separate account or restricted to provide benefits only to employees of that employer. Also, in the event a participating employer is unable to meet its contribution requirements, the required contributions for the other participating employers could increase proportionately. The Pentegra Defined Benefit Plan covers substantially all officers and employees of the FHLBank who meet certain eligibility requirements. Contributions to the Pentegra Defined Benefit Plan charged to compensation and benefit expense were $1,529,000 and $1,229,000 in the three months ended June 30, 2014 and 2013, respectively and $3,058,000 and $2,458,000 in the six months ended June 30, 2014 and 2013. | ||||||||||||||||
Qualified Defined Contribution Plan. The FHLBank also participates in the Pentegra Defined Contribution Plan for Financial Institutions, a tax-qualified, defined contribution pension plan. The FHLBank contributes a percentage of the participants' compensation by making a matching contribution equal to a percentage of voluntary employee contributions, subject to certain limitations. The FHLBank contributed $184,000 and $172,000 in the three months ended June 30, 2014 and 2013, respectively, and $557,000, and $524,000 in the six months ended June 30, 2014 and 2013, respectively. | ||||||||||||||||
Nonqualified Supplemental Defined Benefit Retirement Plan. The FHLBank maintains a nonqualified, unfunded defined benefit plan. The plan ensures that participants receive the full amount of benefits to which they would have been entitled under the qualified defined benefit plan in the absence of limits on benefit levels imposed by the IRS. There are no funded plan assets. The FHLBank has established a grantor trust, which is included in held-to-maturity securities on the Statements of Condition, to meet future benefit obligations and current payments to beneficiaries. | ||||||||||||||||
Postretirement Benefits Plan. The FHLBank also sponsors a postretirement benefits plan that includes health care and life insurance benefits for eligible retirees. Future retirees are eligible for the postretirement benefits plan if they were hired prior to August 1, 1990, are age 55 or older, and their age plus years of continuous service at retirement are greater than or equal to 80. Spouses are covered subject to required contributions. There are no funded plan assets that have been designated to provide postretirement benefits. | ||||||||||||||||
Table 16.1 - Net Periodic Benefit Cost (in thousands) | ||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||
Defined Benefit | Postretirement Benefits Plan | |||||||||||||||
Retirement Plan | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net Periodic Benefit Cost | ||||||||||||||||
Service cost | $ | 107 | $ | 113 | $ | 8 | $ | 9 | ||||||||
Interest cost | 273 | 250 | 30 | 34 | ||||||||||||
Amortization of net loss | 313 | 450 | — | 32 | ||||||||||||
Net periodic benefit cost | $ | 693 | $ | 813 | $ | 38 | $ | 75 | ||||||||
Six Months Ended June 30, | ||||||||||||||||
Defined Benefit | Postretirement Benefits Plan | |||||||||||||||
Retirement Plan | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net Periodic Benefit Cost | ||||||||||||||||
Service cost | $ | 215 | $ | 225 | $ | 16 | $ | 28 | ||||||||
Interest cost | 546 | 500 | 57 | 99 | ||||||||||||
Amortization of net loss | 626 | 900 | — | 32 | ||||||||||||
Net periodic benefit cost | $ | 1,387 | $ | 1,625 | $ | 73 | $ | 159 | ||||||||
Segment_Information
Segment Information | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||
Segment Information [Text Block] | ' | |||||||||||
Segment Information | ||||||||||||
The FHLBank has identified two primary operating segments based on its method of internal reporting: Traditional Member Finance and the MPP. These segments reflect the FHLBank's two primary Mission Asset Activities and the manner in which they are managed from the perspective of development, resource allocation, product delivery, pricing, credit risk and operational administration. The segments identify the principal ways the FHLBank provides services to member stockholders. | ||||||||||||
Table 17.1 - Financial Performance by Operating Segment (in thousands) | ||||||||||||
Three Months Ended June 30, | ||||||||||||
Traditional Member | MPP | Total | ||||||||||
Finance | ||||||||||||
2014 | ||||||||||||
Net interest income | $ | 58,884 | $ | 18,050 | $ | 76,934 | ||||||
Reversal for credit losses | — | (900 | ) | (900 | ) | |||||||
Net interest income after reversal for credit losses | 58,884 | 18,950 | 77,834 | |||||||||
Other income | 4,391 | 1,933 | 6,324 | |||||||||
Other expenses | 14,598 | 2,087 | 16,685 | |||||||||
Income before assessments | 48,677 | 18,796 | 67,473 | |||||||||
Affordable Housing Program assessments | 4,983 | 1,880 | 6,863 | |||||||||
Net income | $ | 43,694 | $ | 16,916 | $ | 60,610 | ||||||
Average assets | $ | 94,796,053 | $ | 6,696,021 | $ | 101,492,074 | ||||||
Total assets | $ | 94,537,107 | $ | 6,721,379 | $ | 101,258,486 | ||||||
2013 | ||||||||||||
Net interest income | $ | 55,766 | $ | 23,347 | $ | 79,113 | ||||||
Reversal for credit losses | — | (4,000 | ) | (4,000 | ) | |||||||
Net interest income after reversal for credit losses | 55,766 | 27,347 | 83,113 | |||||||||
Other income (loss) | 6,511 | (5,043 | ) | 1,468 | ||||||||
Other expenses | 13,588 | 2,080 | 15,668 | |||||||||
Income before assessments | 48,689 | 20,224 | 68,913 | |||||||||
Affordable Housing Program assessments | 5,011 | 2,022 | 7,033 | |||||||||
Net income | $ | 43,678 | $ | 18,202 | $ | 61,880 | ||||||
Average assets | $ | 86,698,404 | $ | 7,129,429 | $ | 93,827,833 | ||||||
Total assets | $ | 88,309,400 | $ | 7,010,196 | $ | 95,319,596 | ||||||
Six Months Ended June 30, | ||||||||||||
Traditional Member | MPP | Total | ||||||||||
Finance | ||||||||||||
2014 | ||||||||||||
Net interest income | $ | 116,065 | $ | 37,883 | $ | 153,948 | ||||||
Reversal for credit losses | — | (900 | ) | (900 | ) | |||||||
Net interest income after reversal for credit losses | 116,065 | 38,783 | 154,848 | |||||||||
Other income | 9,908 | 160 | 10,068 | |||||||||
Other expenses | 29,337 | 4,424 | 33,761 | |||||||||
Income before assessments | 96,636 | 34,519 | 131,155 | |||||||||
Affordable Housing Program assessments | 9,899 | 3,452 | 13,351 | |||||||||
Net income | $ | 86,737 | $ | 31,067 | $ | 117,804 | ||||||
Average assets | $ | 95,103,409 | $ | 6,738,740 | $ | 101,842,149 | ||||||
Total assets | $ | 94,537,107 | $ | 6,721,379 | $ | 101,258,486 | ||||||
2013 | ||||||||||||
Net interest income | $ | 104,371 | $ | 50,299 | $ | 154,670 | ||||||
Reversal for credit losses | — | (6,500 | ) | (6,500 | ) | |||||||
Net interest income after reversal for credit losses | 104,371 | 56,799 | 161,170 | |||||||||
Other income (loss) | 17,436 | (8,263 | ) | 9,173 | ||||||||
Other expenses | 26,499 | 4,184 | 30,683 | |||||||||
Income before assessments | 95,308 | 44,352 | 139,660 | |||||||||
Affordable Housing Program assessments | 9,835 | 4,435 | 14,270 | |||||||||
Net income | $ | 85,473 | $ | 39,917 | $ | 125,390 | ||||||
Average assets | $ | 81,884,300 | $ | 7,265,792 | $ | 89,150,092 | ||||||
Total assets | $ | 88,309,400 | $ | 7,010,196 | $ | 95,319,596 | ||||||
Fair_Value_Disclosures
Fair Value Disclosures | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | |||||||||||||||||||||||
Fair Value Disclosures | ||||||||||||||||||||||||
The fair value amounts recorded on the Statements of Condition and presented in the related note disclosures have been determined by the FHLBank using available market information and the FHLBank's best judgment of appropriate valuation methods. The fair values reflect the FHLBank's judgment of how a market participant would estimate the fair values. | ||||||||||||||||||||||||
Fair Value Hierarchy. The FHLBank records trading securities, available-for-sale securities, derivative assets, derivative liabilities and certain Consolidated Obligation Bonds at fair value on a recurring basis. GAAP establishes a fair value hierarchy and requires an entity 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 measurement is determined. This overall level is an indication of how market observable the fair value measurement is. An entity must disclose the level within the fair value hierarchy in which the measurements are classified. | ||||||||||||||||||||||||
The fair value hierarchy prioritizes the inputs used to measure fair value into three broad levels: | ||||||||||||||||||||||||
Level 1 Inputs - Quoted prices (unadjusted) for identical assets or liabilities in an active market that the reporting entity 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 or liabilities in active markets; (2) quoted prices for identical or similar assets or liabilities in markets that are not active; (3) inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates and yield curves that are observable at commonly quoted intervals, and implied volatilities); and (4) inputs that are derived principally from or corroborated by observable market data by correlation or other means. | ||||||||||||||||||||||||
Level 3 Inputs - Unobservable inputs for the asset or liability. | ||||||||||||||||||||||||
The FHLBank reviews the fair value hierarchy classifications on a quarterly basis. Changes in the observability of the valuation inputs may result in a reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in/out at fair value as of the beginning of the quarter in which the changes occur. The FHLBank did not have any transfers of assets or liabilities recorded at fair value on a recurring basis during the six months ended June 30, 2014 or 2013. | ||||||||||||||||||||||||
Table 18.1 presents the carrying value, fair value, and fair value hierarchy of financial assets and liabilities of the FHLBank. 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 versus liabilities. | ||||||||||||||||||||||||
Table 18.1 - Fair Value Summary (in thousands) | ||||||||||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||
Financial Instruments | Carrying Value | Total | Level 1 | Level 2 | Level 3 | Netting Adjustments and Cash Collateral (1) | ||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Cash and due from banks | $ | 219,048 | $ | 219,048 | $ | 219,048 | $ | — | $ | — | $ | — | ||||||||||||
Interest-bearing deposits | 218 | 218 | — | 218 | — | — | ||||||||||||||||||
Securities purchased under resale | 5,950,000 | 5,950,000 | — | 5,950,000 | — | — | ||||||||||||||||||
agreements | ||||||||||||||||||||||||
Federal funds sold | 1,105,000 | 1,105,000 | — | 1,105,000 | — | — | ||||||||||||||||||
Trading securities | 1,469 | 1,469 | — | 1,469 | — | — | ||||||||||||||||||
Available-for-sale securities | 2,004,981 | 2,004,981 | — | 2,004,981 | — | — | ||||||||||||||||||
Held-to-maturity securities | 15,672,940 | 15,642,823 | — | 15,642,823 | — | — | ||||||||||||||||||
Advances | 69,485,413 | 69,411,038 | — | 69,411,038 | — | — | ||||||||||||||||||
Mortgage loans held for portfolio, | 6,696,258 | 6,898,519 | — | 6,852,000 | 46,519 | — | ||||||||||||||||||
net | ||||||||||||||||||||||||
Accrued interest receivable | 82,057 | 82,057 | — | 82,057 | — | — | ||||||||||||||||||
Derivative assets | 5,389 | 5,389 | — | 32,123 | — | (26,734 | ) | |||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Deposits | 803,778 | 803,678 | — | 803,678 | — | — | ||||||||||||||||||
Consolidated Obligations: | ||||||||||||||||||||||||
Discount Notes | 35,389,600 | 35,386,153 | — | 35,386,153 | — | — | ||||||||||||||||||
Bonds (2) | 59,653,311 | 59,845,107 | — | 59,845,107 | — | — | ||||||||||||||||||
Mandatorily redeemable capital | 112,272 | 112,272 | 112,272 | — | — | — | ||||||||||||||||||
stock | ||||||||||||||||||||||||
Accrued interest payable | 118,032 | 118,032 | — | 118,032 | — | — | ||||||||||||||||||
Derivative liabilities | 72,323 | 72,323 | — | 193,391 | — | (121,068 | ) | |||||||||||||||||
Other: | ||||||||||||||||||||||||
Commitments to extend credit for Advances | — | 1 | — | 1 | — | — | ||||||||||||||||||
Standby bond purchase agreements | — | 2,517 | — | 2,517 | — | — | ||||||||||||||||||
-1 | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLBank with the same counterparty. | |||||||||||||||||||||||
-2 | Includes (in thousands) $2,780,023 of Consolidated Bonds recorded under the fair value option at June 30, 2014. | |||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||
Financial Instruments | Carrying Value | Total | Level 1 | Level 2 | Level 3 | Netting Adjustments and Cash Collateral (1) | ||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Cash and due from banks | $ | 8,598,933 | $ | 8,598,933 | $ | 8,598,933 | $ | — | $ | — | $ | — | ||||||||||||
Interest-bearing deposits | 166 | 166 | — | 166 | — | — | ||||||||||||||||||
Securities purchased under resale agreements | 2,350,000 | 2,350,000 | — | 2,350,000 | — | — | ||||||||||||||||||
Federal funds sold | 1,740,000 | 1,740,000 | — | 1,740,000 | — | — | ||||||||||||||||||
Trading securities | 1,578 | 1,578 | — | 1,578 | — | — | ||||||||||||||||||
Available-for-sale securities | 2,184,879 | 2,184,879 | — | 2,184,879 | — | — | ||||||||||||||||||
Held-to-maturity securities | 16,087,162 | 15,808,397 | — | 15,808,397 | — | — | ||||||||||||||||||
Advances | 65,270,390 | 65,065,523 | — | 65,065,523 | — | — | ||||||||||||||||||
Mortgage loans held for portfolio, net | 6,818,290 | 6,827,406 | — | 6,774,514 | 52,892 | — | ||||||||||||||||||
Accrued interest receivable | 85,151 | 85,151 | — | 85,151 | — | — | ||||||||||||||||||
Derivative assets | 3,241 | 3,241 | — | 39,445 | — | (36,204 | ) | |||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Deposits | 913,895 | 913,799 | — | 913,799 | — | — | ||||||||||||||||||
Consolidated Obligations: | ||||||||||||||||||||||||
Discount Notes | 38,209,946 | 38,200,971 | — | 38,200,971 | — | — | ||||||||||||||||||
Bonds (2) | 58,162,739 | 58,075,025 | — | 58,075,025 | — | — | ||||||||||||||||||
Mandatorily redeemable capital stock | 115,853 | 115,853 | 115,853 | — | — | — | ||||||||||||||||||
Accrued interest payable | 116,381 | 116,381 | — | 116,381 | — | — | ||||||||||||||||||
Derivative liabilities | 97,766 | 97,766 | — | 223,835 | — | (126,069 | ) | |||||||||||||||||
Other: | ||||||||||||||||||||||||
Standby bond purchase agreements | — | 3,715 | — | 3,715 | — | — | ||||||||||||||||||
-1 | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLBank with the same counterparty. | |||||||||||||||||||||||
-2 | Includes (in thousands) $4,018,370 of Consolidated Bonds recorded under the fair value option at December 31, 2013. | |||||||||||||||||||||||
Summary of Valuation Methodologies and Primary Inputs. | ||||||||||||||||||||||||
A description of the valuation methodologies and primary inputs is disclosed in Note 19 - Fair Value Disclosures in the FHLBank's 2013 Form 10-K. Below is the valuation methodology that has been enhanced during 2014. | ||||||||||||||||||||||||
Consolidated Obligation Bonds: | ||||||||||||||||||||||||
The FHLBank determines the fair values of certain Consolidated Obligation Bonds by calculating the present value of scheduled future cash flows from the bonds excluding accrued interest. Inputs used to determine fair value of these Consolidated Obligation Bonds are the discount rates, which are estimated current market yields, as indicated by the Office of Finance, for bonds with similar current terms. | ||||||||||||||||||||||||
The FHLBank determines the fair values of other Consolidated Obligation Bonds based on pricing received from designated third-party pricing vendors. The pricing vendors used apply various proprietary models to price Consolidated Obligation Bonds. The inputs to those models are derived from various sources including, but not limited to, benchmark yields, reported trades, dealer estimates, issuer spreads, benchmark securities, bids, offers, and other market-related data. Since many Consolidated Obligation Bonds do not trade on a daily basis, the pricing vendors use available information, as applicable, such as benchmark curves, benchmarking of like securities, sector groupings and matrix pricing to determine the prices for individual Consolidated Obligation Bonds. Each pricing vendor has an established challenge process in place for all valuations, which facilitates resolution of potentially erroneous prices identified by the FHLBank. | ||||||||||||||||||||||||
When pricing vendors are used, the FHLBank's valuation technique first requires the establishment of a “median” price for each Consolidated Obligation Bond. If four prices are received, the average of the middle two prices is the median price; if three prices are received, the middle price is the median price; if two prices are received, the average of the two prices is the median price; and if one price is received, it is the median price (and also the final price) subject to validation of outliers. All prices that are within a specified tolerance threshold of the median price are included in the “cluster” of prices that are averaged to compute a “default” price. | ||||||||||||||||||||||||
All prices that are outside the threshold (“outliers”) are subject to further analysis (including, but not limited to, comparison to prices provided by an additional third-party valuation service, prices for similar securities, non-binding dealer estimates, and/or use of an internal model that is deemed most appropriate) to determine if an outlier is a better estimate of fair value. If an outlier (or some other price identified in the analysis) is determined to be a better estimate of fair value, then the outlier (or the other price as appropriate) is used as the final price rather than the default price. Alternatively, if the analysis confirms that an outlier is in fact not representative of fair value and the default price is the best estimate, then the default price is used as the final price. In all cases, the final price is used to determine the fair value of the security. | ||||||||||||||||||||||||
If all prices received for a Consolidated Obligation Bond are outside the tolerance threshold level of the median price, then there is no default price, and the final price is determined by an evaluation of all outlier prices as described above. | ||||||||||||||||||||||||
Four vendor prices were received for the FHLBank's Consolidated Obligation Bonds and the final prices for those bonds were computed by averaging the prices received. Based on the FHLBank's review of the pricing methods and controls employed by the third-party pricing vendors and the relative lack of dispersion among the vendor prices, the FHLBank believes its final prices result in reasonable estimates of fair value and that the fair value measurements are classified appropriately in the fair value hierarchy. | ||||||||||||||||||||||||
The FHLBank has conducted reviews of its pricing vendors to confirm and further augment its understanding of the vendors' pricing processes, methodologies and control procedures for Consolidated Obligation Bonds. | ||||||||||||||||||||||||
Fair Value Measurements. | ||||||||||||||||||||||||
Table 18.2 presents the fair value of financial assets and liabilities, which are recorded on a recurring basis at June 30, 2014 or December 31, 2013, by level within the fair value hierarchy. | ||||||||||||||||||||||||
Table 18.2 - Fair Value Measurements (in thousands) | ||||||||||||||||||||||||
Fair Value Measurements at June 30, 2014 | ||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral (1) | ||||||||||||||||||||
Recurring fair value measurements - Assets | ||||||||||||||||||||||||
Trading securities: | ||||||||||||||||||||||||
Other U.S. obligation residential mortgage-backed securities | $ | 1,469 | $ | — | $ | 1,469 | $ | — | $ | — | ||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||
Certificates of deposit | 2,004,981 | — | 2,004,981 | — | — | |||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||
Interest rate swaps | 1,556 | — | 28,290 | — | (26,734 | ) | ||||||||||||||||||
Forward rate agreements | 20 | — | 20 | — | — | |||||||||||||||||||
Mortgage delivery commitments | 3,813 | — | 3,813 | — | — | |||||||||||||||||||
Total derivative assets | 5,389 | — | 32,123 | — | (26,734 | ) | ||||||||||||||||||
Total assets at fair value | $ | 2,011,839 | $ | — | $ | 2,038,573 | $ | — | $ | (26,734 | ) | |||||||||||||
Recurring fair value measurements - Liabilities | ||||||||||||||||||||||||
Consolidated Obligation Bonds (2) | $ | 2,780,023 | $ | — | $ | 2,780,023 | $ | — | $ | — | ||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||
Interest rate swaps | 69,290 | — | 190,358 | — | (121,068 | ) | ||||||||||||||||||
Forward rate agreement | 2,986 | — | 2,986 | — | — | |||||||||||||||||||
Mortgage delivery commitments | 47 | — | 47 | — | — | |||||||||||||||||||
Total derivative liabilities | 72,323 | — | 193,391 | — | (121,068 | ) | ||||||||||||||||||
Total liabilities at fair value | $ | 2,852,346 | $ | — | $ | 2,973,414 | $ | — | $ | (121,068 | ) | |||||||||||||
-1 | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLBank with the same counterparty. | |||||||||||||||||||||||
-2 | Represents Consolidated Obligation Bonds recorded under the fair value option. | |||||||||||||||||||||||
Fair Value Measurements at December 31, 2013 | ||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral (1) | ||||||||||||||||||||
Recurring fair value measurements - Assets | ||||||||||||||||||||||||
Trading securities: | ||||||||||||||||||||||||
Other U.S. obligation residential mortgage-backed securities | $ | 1,578 | $ | — | $ | 1,578 | $ | — | $ | — | ||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||
Certificates of deposit | 2,184,879 | — | 2,184,879 | — | — | |||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||
Interest rate swaps | 2,785 | — | 38,989 | — | (36,204 | ) | ||||||||||||||||||
Forward rate agreements | 454 | — | 454 | — | — | |||||||||||||||||||
Mortgage delivery commitments | 2 | — | 2 | — | — | |||||||||||||||||||
Total derivative assets | 3,241 | — | 39,445 | — | (36,204 | ) | ||||||||||||||||||
Total assets at fair value | $ | 2,189,698 | $ | — | $ | 2,225,902 | $ | — | $ | (36,204 | ) | |||||||||||||
Recurring fair value measurements - Liabilities | ||||||||||||||||||||||||
Consolidated Obligation Bonds (2) | $ | 4,018,370 | $ | — | $ | 4,018,370 | $ | — | $ | — | ||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||
Interest rate swaps | 97,354 | — | 223,423 | — | (126,069 | ) | ||||||||||||||||||
Mortgage delivery commitments | 412 | — | 412 | — | — | |||||||||||||||||||
Total derivative liabilities | 97,766 | — | 223,835 | — | (126,069 | ) | ||||||||||||||||||
Total liabilities at fair value | $ | 4,116,136 | $ | — | $ | 4,242,205 | $ | — | $ | (126,069 | ) | |||||||||||||
-1 | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLBank with the same counterparty. | |||||||||||||||||||||||
-2 | Represents Consolidated Obligation Bonds recorded under the fair value option. | |||||||||||||||||||||||
Fair Value Option. The fair value option provides an irrevocable option to elect fair value as an alternative measurement for selected financial assets, financial liabilities, unrecognized firm commitments, and written loan commitments not previously carried at fair value. It requires a company to display the fair value of those assets and liabilities for which it has chosen to use fair value on the face of the Statements of Condition. Fair value is used for both the initial and subsequent measurement of the designated assets, liabilities and commitments, with the changes in fair value recognized in net income. If elected, interest income and interest expense on Advances and Consolidated Bonds carried at fair value are recognized based solely on the contractual amount of interest due or unpaid and any transaction fees or costs are immediately recognized into other non-interest income or other non-interest expense. Additionally, concessions paid on Consolidated Obligations designated under the fair value option are expensed as incurred in other non-interest expense. | ||||||||||||||||||||||||
The FHLBank has elected the fair value option for certain Consolidated Obligation Bond transactions. The FHLBank elected the fair value option for these transactions so as to mitigate the income statement volatility that can arise when only the corresponding derivatives are marked at fair value in transactions that do not, or may not, meet hedge effectiveness requirements or otherwise qualify for hedge accounting (i.e., economic hedging transactions). | ||||||||||||||||||||||||
Table 18.3 – Fair Value Option Financial Liabilities (in thousands) | ||||||||||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Consolidated Bonds | Consolidated Bonds | |||||||||||||||||||||||
Balance at beginning of period | $ | (2,265,459 | ) | $ | (2,002,068 | ) | ||||||||||||||||||
New transactions elected for fair value option | (1,515,000 | ) | — | |||||||||||||||||||||
Maturities and terminations | 1,000,000 | 1,900,000 | ||||||||||||||||||||||
Net (losses) gains on instruments held under fair value option | (80 | ) | 355 | |||||||||||||||||||||
Change in accrued interest | 516 | 1,604 | ||||||||||||||||||||||
Balance at end of period | $ | (2,780,023 | ) | $ | (100,109 | ) | ||||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Consolidated Bonds | Consolidated Bonds | |||||||||||||||||||||||
Balance at beginning of period | $ | (4,018,370 | ) | $ | (3,402,366 | ) | ||||||||||||||||||
New transactions elected for fair value option | (2,765,000 | ) | — | |||||||||||||||||||||
Maturities and terminations | 4,000,000 | 3,300,000 | ||||||||||||||||||||||
Net gains on instruments held under fair value option | 1,280 | 887 | ||||||||||||||||||||||
Change in accrued interest | 2,067 | 1,370 | ||||||||||||||||||||||
Balance at end of period | $ | (2,780,023 | ) | $ | (100,109 | ) | ||||||||||||||||||
Table 18.4 – Changes in Fair Values for Items Measured at Fair Value Pursuant to the Election of the Fair Value Option (in thousands) | ||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Consolidated Bonds | Consolidated Bonds | Consolidated Bonds | Consolidated Bonds | |||||||||||||||||||||
Interest expense | $ | (841 | ) | $ | (701 | ) | $ | (2,439 | ) | $ | (2,060 | ) | ||||||||||||
Net (losses) gains on changes in fair value under fair value option | (80 | ) | 355 | 1,280 | 887 | |||||||||||||||||||
Total changes in fair value included in current period earnings | $ | (921 | ) | $ | (346 | ) | $ | (1,159 | ) | $ | (1,173 | ) | ||||||||||||
For instruments recorded under the fair value option, the related contractual interest income and contractual interest expense are recorded as part of net interest income on the Statements of Income. The remaining changes in fair value for instruments in which the fair value option has been elected are recorded as “Net (losses) gains on Consolidated Obligation Bonds held under fair value option” in the Statements of Income. The FHLBank has determined that no adjustments to the fair values of its instruments recorded under the fair value option for instrument-specific credit risk were necessary as of June 30, 2014 or December 31, 2013. | ||||||||||||||||||||||||
The following table reflects the difference between the aggregate unpaid principal balance outstanding and the aggregate fair value for Consolidated Bonds for which the fair value option has been elected. | ||||||||||||||||||||||||
Table 18.5 – Aggregate Unpaid Balance and Aggregate Fair Value (in thousands) | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Aggregate Unpaid Principal Balance | Aggregate Fair Value | Aggregate Fair Value Over/(Under) Aggregate Unpaid Principal Balance | Aggregate Unpaid Principal Balance | Aggregate Fair Value | Aggregate Fair Value Over/(Under) Aggregate Unpaid Principal Balance | |||||||||||||||||||
Consolidated Bonds | $ | 2,780,000 | $ | 2,780,023 | $ | 23 | $ | 4,015,000 | $ | 4,018,370 | $ | 3,370 | ||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||||||||||||||
Commitments and Contingencies [Text Block] | ' | |||||||||||||||||||||||
Commitments and Contingencies | ||||||||||||||||||||||||
Table 19.1 - Off-Balance Sheet Commitments (in thousands) | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
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 | $ | 14,981,000 | $ | 581,569 | $ | 15,562,569 | $ | 13,317,887 | $ | 154,086 | $ | 13,471,973 | ||||||||||||
Commitments for standby bond purchases | 38,480 | 215,265 | 253,745 | 10,960 | 273,025 | 283,985 | ||||||||||||||||||
Commitments to fund additional Advances | 3,000 | — | 3,000 | — | — | — | ||||||||||||||||||
Commitments to purchase mortgage loans | 429,399 | — | 429,399 | 36,620 | — | 36,620 | ||||||||||||||||||
Unsettled Consolidated Bonds, at par (1) | — | — | — | 240,000 | — | 240,000 | ||||||||||||||||||
Unsettled Consolidated Discount Notes, at par (1) | 5,000 | — | 5,000 | 1,122,298 | — | 1,122,298 | ||||||||||||||||||
-1 | Expiration is based on settlement period rather than underlying contractual maturity of Consolidated Obligations. | |||||||||||||||||||||||
Legal Proceedings. From time to time, the FHLBank is subject to legal proceedings arising in the normal course of business. In March 2010, the FHLBank was advised by representatives of the Lehman Brothers Holdings, Inc. bankruptcy estate that they believed that the FHLBank had been unjustly enriched in connection with the close out of its interest rate swap transactions with Lehman at the time of the Lehman bankruptcy in 2008 and that the bankruptcy estate was entitled to the $43 million difference between the settlement amount the FHLBank paid Lehman in connection with the close-out transactions and the market value payment the FHLBank received when replacing the swaps with other counterparties. In May 2010, the FHLBank received a Derivatives Alternative Dispute Resolution notice from the Lehman bankruptcy estate with a settlement demand of $65.8 million, plus interest accruing primarily at LIBOR plus 14.5 percent since the bankruptcy filing, based on their view of how the settlement amount should have been calculated. In accordance with the Alternative Dispute Resolution Order of the Bankruptcy Court administering the Lehman estate, senior management of the FHLBank participated in a non-binding mediation in New York in August 2010, and counsel for the FHLBank continued discussions with the court-appointed mediator for several weeks thereafter. The mediation concluded in October 2010 without a settlement of the claims asserted by the Lehman bankruptcy estate. In April 2013 Lehman Brothers Special Financing Inc., through Lehman Brothers Holdings Inc. and the Plan Administrator under the Modified Third Amended Joint Chapter 11 Plan of Lehman Brothers Holdings Inc. and Its Affiliated Debtors, filed an adversary complaint in the United States Bankruptcy Court for the Southern District of New York against the FHLBank seeking (a) a declaratory judgment on the interpretation of certain provisions and the calculation of amounts due under the agreement governing the 2008 swap transactions described above, and (b) additional amounts alleged as due as part of the termination of such transactions. The FHLBank believes that it correctly calculated, and fully satisfied its obligation to Lehman in September 2008, and the FHLBank intends to vigorously defend itself. | ||||||||||||||||||||||||
The FHLBank also is subject to other legal proceedings arising in the normal course of business. After consultation with legal counsel, management does not anticipate that the ultimate liability, if any, arising out of these matters will have a material effect on the FHLBank's financial condition or results of operations. | ||||||||||||||||||||||||
Transactions_with_Other_FHLBan
Transactions with Other FHLBanks | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Transactions with Other FHLBanks [Abstract] | ' | |||||||
Transactions with Other FHLBanks [Text Block] | ' | |||||||
Transactions with Other FHLBanks | ||||||||
The FHLBank notes all transactions with other FHLBanks on the face of its financial statements. Occasionally, the FHLBank loans short-term funds to and borrows short-term funds from other FHLBanks. These loans and borrowings are transacted at then current market rates when traded. There were no such loans or borrowings outstanding at June 30, 2014 or December 31, 2013. The following table details the average daily balance of lending and borrowing between the FHLBank and other FHLBanks for the six months ended June 30, 2014 and 2013. | ||||||||
Table 20.1 - Lending and Borrowing Between the FHLBank and Other FHLBanks (in thousands) | ||||||||
Average Daily Balances for the Six Months Ended June 30, | ||||||||
2014 | 2013 | |||||||
Loans to other FHLBanks | $ | 166 | $ | 4,779 | ||||
Borrowings from other FHLBanks | — | 8,287 | ||||||
The FHLBank may, from time to time, assume the outstanding primary liability for Consolidated Obligations of another FHLBank (at then current market rates on the day when the transfer is traded) rather than issuing new debt for which the FHLBank is the primary obligor. The FHLBank then becomes the primary obligor on the transferred debt. There were no Consolidated Obligations transferred to the FHLBank during the six months ended June 30, 2014 or 2013. The FHLBank had no Consolidated Obligations transferred to other FHLBanks during these periods. |
Transactions_with_Stockholders
Transactions with Stockholders | 6 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Transactions with Stockholders [Abstract] | ' | ||||||||||||||
Transactions with Stockholders [Text Block] | ' | ||||||||||||||
Transactions with Stockholders | |||||||||||||||
Transactions with Directors' Financial Institutions. In the ordinary course of its business, the FHLBank may provide products and services to members whose officers or directors serve as directors of the FHLBank (Directors' Financial Institutions). Finance Agency Regulations require that transactions with Directors' Financial Institutions be made on the same terms as those with any other member. The following table reflects balances with Directors' Financial Institutions for the items indicated below. | |||||||||||||||
Table 21.1 - Transactions with Directors' Financial Institutions (dollars in millions) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Balance | % of Total (1) | Balance | % of Total (1) | ||||||||||||
Advances | $ | 2,531 | 3.7 | % | $ | 1,611 | 2.5 | % | |||||||
MPP | 136 | 2.1 | 57 | 0.9 | |||||||||||
Mortgage-backed securities | — | — | — | — | |||||||||||
Regulatory capital stock | 208 | 4.8 | 246 | 5.1 | |||||||||||
Derivatives | — | — | — | — | |||||||||||
-1 | Percentage of total principal (Advances), unpaid principal balance (MPP), principal balance (mortgage-backed securities), regulatory capital stock, and notional balances (derivatives). | ||||||||||||||
Concentrations. The following table shows regulatory capital stock balances, outstanding Advance principal balances, and unpaid principal balances of mortgage loans held for portfolio at the dates indicated to stockholders holding five percent or more of regulatory capital stock and include any known affiliates that are members of the FHLBank. | |||||||||||||||
Table 21.2 - Stockholders Holding Five Percent or more of Regulatory Capital Stock (dollars in millions) | |||||||||||||||
Regulatory Capital Stock | Advance | MPP Unpaid | |||||||||||||
June 30, 2014 | Balance | % of Total | Principal | Principal Balance | |||||||||||
JPMorgan Chase Bank, N.A. | $ | 1,533 | 35 | % | $ | 39,700 | $ | — | |||||||
U.S. Bank, N.A. | 475 | 11 | 5,467 | 42 | |||||||||||
Fifth Third Bank | 248 | 6 | 1,775 | 4 | |||||||||||
Total | $ | 2,256 | 52 | % | $ | 46,942 | $ | 46 | |||||||
Regulatory Capital Stock | Advance | MPP Unpaid | |||||||||||||
December 31, 2013 | Balance | % of Total | Principal | Principal Balance | |||||||||||
JPMorgan Chase Bank, N.A. | $ | 1,533 | 32 | % | $ | 41,700 | $ | — | |||||||
U.S. Bank, N.A. | 592 | 12 | 4,584 | 45 | |||||||||||
Fifth Third Bank | 401 | 8 | 26 | 4 | |||||||||||
Total | $ | 2,526 | 52 | % | $ | 46,310 | $ | 49 | |||||||
Nonmember Affiliates. The FHLBank has relationships with three nonmember affiliates, the Kentucky Housing Corporation, the Ohio Housing Finance Agency and the Tennessee Housing Development Agency. The FHLBank had no investments in or borrowings to any of these nonmember affiliates at June 30, 2014 or December 31, 2013. The FHLBank has executed standby bond purchase agreements with one state housing authority whereby the FHLBank, for a fee, agrees as a liquidity provider if required, to purchase and hold the authority's 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. During the first six months of 2014 and 2013, the FHLBank was not required to purchase any bonds under these agreements. |
Recently_Issued_Accounting_Sta1
Recently Issued Accounting Standards and Interpretations Recently Issued Accounting Standards and Interpretations (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
Finance, Loan and Lease Receivables, Held-for-investment, Allowance and Nonperforming Loans, Nonperforming Loans Policy [Policy Text Block] | ' |
Mortgage Loans Held for Portfolio - FHA | |
The FHLBank invests in fixed-rate mortgage loans secured by one-to-four family residential properties insured by the FHA. Any losses from such loans are expected to be recovered from the FHA. Any losses from these loans that are not recovered from the FHA would be due to a claim rejection by the FHA and, as such, would be recoverable from the selling participating financial institutions (PFIs). Therefore, the FHLBank only has credit risk for these loans if the seller or servicer fails to pay for losses not covered by insurance. As a result, the FHLBank did not establish an allowance for credit losses on its FHA insured mortgage loans. Furthermore, due to the insurance, none of these mortgage loans have been placed on non-accrual status. | |
Mortgage Loans Held for Portfolio - Conventional Mortgage Purchase Program (MPP) | |
The allowance for conventional loans is determined by analyses that include consideration of various data observations such as past performance, current performance, loan portfolio characteristics, collateral-related characteristics, industry data, and prevailing economic conditions. The measurement of the allowance for credit losses consists of: (1) collectively evaluating homogeneous pools of residential mortgage loans; (2) reviewing specifically identified loans for impairment; and (3) considering other relevant qualitative factors. | |
Collectively Evaluated Mortgage Loans. The credit risk analysis of conventional loans evaluated collectively for impairment considers historical delinquency migration, applies estimated loss severities, and incorporates the associated credit enhancements in order to determine the FHLBank's best estimate of probable incurred losses at the reporting date. The credit risk analysis of all conventional mortgage loans is performed at the individual Master Commitment Contract level to properly determine the credit enhancements available to recover losses on loans under each individual Master Commitment Contract. The Master Commitment Contract is an agreement with a member in which the member agrees to make every attempt to sell a specific dollar amount of loans to the FHLBank over a one-year period. Migration analysis is a methodology for determining, through the FHLBank's experience over a historical period, the rate of default on loans. The FHLBank applies migration analysis to loans based on payment status categories such as current, 30, 60, and 90 days past due. The FHLBank then estimates, based on historical experience, how many loans in these categories may migrate to a loss realization event and applies a current loss severity to estimate losses. The estimated losses are then reduced by the probable cash flows resulting from credit enhancements available. Any credit enhancement cash flows that are projected and assessed as not probable of receipt do not reduce estimated losses. | |
Individually Evaluated Mortgage Loans. Conventional mortgage loans that are considered troubled debt restructurings are specifically identified for purposes of calculating the allowance for credit losses. The FHLBank measures impairment of these specifically identified loans by either estimating the present value of expected cash flows, estimating the loan's observable market price, or estimating the fair value of the collateral if the loan is collateral dependent. Specifically identified loans evaluated for impairment are removed from the collectively evaluated mortgage loan population. | |
Qualitative Factors. The FHLBank also assesses other qualitative factors in its estimation of loan losses for the collectively evaluated population. This amount represents a subjective management judgment, based on facts and circumstances that exist as of the reporting date, that is intended to cover other incurred losses that may not otherwise be captured in the methodology described above. | |
Derivatives, Policy [Policy Text Block] | ' |
Types of Derivatives | |
The FHLBank may enter into interest rate swaps (including callable and putable swaps), swaptions, interest rate cap and floor agreements, calls, puts, futures, and forward contracts to manage its exposure to changes in interest rates. | |
An interest rate swap is an agreement between two entities to exchange cash flows in the future. The agreement sets the dates on which the cash flows will be paid and the manner in which the cash flows will be calculated. One of the simplest forms of an interest rate swap involves the promise by one party to pay cash flows equivalent to the interest on a notional principal amount at a predetermined fixed rate for a given period of time. In return for this promise, this party receives cash flows equivalent to the interest on the same notional principal amount at a variable-rate index for the same period of time. The variable-rate transacted by the FHLBank in its derivatives is the London Interbank Offered Rate (LIBOR). | |
Application of Interest Rate Swaps | |
The FHLBank generally uses derivatives as fair value hedges of underlying financial instruments. However, because the FHLBank uses interest rate swaps when they are considered to be the most cost-effective alternative to achieve the FHLBank's financial and risk management objectives, it may enter into interest rate swaps that do not necessarily qualify for hedge accounting (economic hedges). The FHLBank re-evaluates its hedging strategies from time to time and may change the hedging techniques it uses or adopt new strategies. | |
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | ' |
A loan considered a troubled debt restructuring is individually evaluated for impairment when determining its related allowance for credit losses. Credit loss is measured by factoring in expected cash shortfalls (i.e., loss severity rate) incurred as of the reporting date. | |
Derivatives, Methods of Accounting, Hedging Derivatives [Policy Text Block] | ' |
The FHLBank documents at inception all relationships between derivatives designated as hedging instruments and the hedged items, its risk management objectives and strategies for undertaking various hedge transactions, and its method of assessing effectiveness. This process includes linking all derivatives that are designated as fair value hedges to assets and liabilities on the Statements of Condition. | |
Derivatives, Methods of Accounting, Hedge Effectiveness [Policy Text Block] | ' |
The FHLBank also formally assesses (both at the hedge's inception and at least quarterly) whether the derivatives that are used in hedging transactions have been effective in offsetting changes in the fair value of the hedged items and whether those derivatives may be expected to remain effective in future periods. The FHLBank currently uses regression analyses to assess the effectiveness of its hedges. | |
Segment Reporting, Policy [Policy Text Block] | ' |
The FHLBank has identified two primary operating segments based on its method of internal reporting: Traditional Member Finance and the MPP. These segments reflect the FHLBank's two primary Mission Asset Activities and the manner in which they are managed from the perspective of development, resource allocation, product delivery, pricing, credit risk and operational administration. The segments identify the principal ways the FHLBank provides services to member stockholders. | |
Fair Value Transfer, Policy [Policy Text Block] | ' |
The FHLBank reviews the fair value hierarchy classifications on a quarterly basis. Changes in the observability of the valuation inputs may result in a reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in/out at fair value as of the beginning of the quarter in which the changes occur. | |
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' |
The fair value amounts recorded on the Statements of Condition and presented in the related note disclosures have been determined by the FHLBank using available market information and the FHLBank's best judgment of appropriate valuation methods. The fair values reflect the FHLBank's judgment of how a market participant would estimate the fair values. |
Trading_Securities_Tables
Trading Securities (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | |||||||
Trading Securities (and Certain Trading Assets) [Table Text Block] | ' | |||||||
Trading Securities by Major Security Types (in thousands) | ||||||||
Fair Value | June 30, 2014 | December 31, 2013 | ||||||
Mortgage-backed securities: | ||||||||
Other U.S. obligation residential mortgage-backed securities (1) | $ | 1,469 | $ | 1,578 | ||||
Total | $ | 1,469 | $ | 1,578 | ||||
-1 | Consists of Government National Mortgage Association (Ginnie Mae) mortgage-backed securities. | |||||||
Trading Securities [Member] | ' | |||||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | |||||||
Gain (Loss) on Investments [Table Text Block] | ' | |||||||
Net Losses on Trading Securities (in thousands) | ||||||||
Six Months Ended June 30, | ||||||||
2014 | 2013 | |||||||
Net losses on trading securities held at period end | $ | (4 | ) | $ | (4 | ) | ||
Net losses on trading securities | $ | (4 | ) | $ | (4 | ) |
AvailableforSale_Securities_Ta
Available-for-Sale Securities (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Schedule of Available-for-sale Securities [Line Items] | ' | |||||||||||||||
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | ' | |||||||||||||||
Available-for-Sale Securities by Major Security Types (in thousands) | ||||||||||||||||
June 30, 2014 | ||||||||||||||||
Amortized | Gross | Gross | Fair | |||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||
Gains | (Losses) | |||||||||||||||
Certificates of deposit | $ | 2,005,000 | $ | 18 | $ | (37 | ) | $ | 2,004,981 | |||||||
Total | $ | 2,005,000 | $ | 18 | $ | (37 | ) | $ | 2,004,981 | |||||||
December 31, 2013 | ||||||||||||||||
Amortized | Gross | Gross | Fair | |||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||
Gains | (Losses) | |||||||||||||||
Certificates of deposit | $ | 2,185,000 | $ | 1 | $ | (122 | ) | $ | 2,184,879 | |||||||
Total | $ | 2,185,000 | $ | 1 | $ | (122 | ) | $ | 2,184,879 | |||||||
Available-for-sale Securities [Member] | ' | |||||||||||||||
Schedule of Available-for-sale Securities [Line Items] | ' | |||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | |||||||||||||||
Available-for-Sale Securities by Contractual Maturity (in thousands) | ||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||
Year of Maturity | Amortized | Fair | Amortized | Fair | ||||||||||||
Cost | Value | Cost | Value | |||||||||||||
Due in one year or less | $ | 2,005,000 | $ | 2,004,981 | $ | 2,185,000 | $ | 2,184,879 | ||||||||
Schedule of Interest Rate Payment Terms For Investments [Table Text Block] | ' | |||||||||||||||
Interest Rate Payment Terms of Available-for-Sale Securities (in thousands) | ||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||
Amortized cost of available-for-sale securities: | ||||||||||||||||
Fixed-rate | $ | 2,005,000 | $ | 2,185,000 | ||||||||||||
HeldtoMaturity_Securities_Tabl
Held-to-Maturity Securities (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Schedule of Held-to-maturity Securities [Line Items] | ' | |||||||||||||||||||||||
Held-to-maturity Securities [Table Text Block] | ' | |||||||||||||||||||||||
Held-to-Maturity Securities by Major Security Types (in thousands) | ||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Amortized Cost (1) | Gross Unrecognized Holding | Gross Unrecognized Holding (Losses) | Fair Value | |||||||||||||||||||||
Gains | ||||||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||||
U.S. Treasury obligations | $ | 26,049 | $ | 1 | $ | — | $ | 26,050 | ||||||||||||||||
Total non-mortgage-backed securities | 26,049 | 1 | — | 26,050 | ||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||
Other U.S. obligation residential | 2,184,883 | 4,558 | (11,958 | ) | 2,177,483 | |||||||||||||||||||
mortgage-backed securities (2) | ||||||||||||||||||||||||
Government-sponsored enterprises (GSE) residential mortgage-backed securities (3) | 13,462,008 | 192,935 | (215,653 | ) | 13,439,290 | |||||||||||||||||||
Total mortgage-backed securities | 15,646,891 | 197,493 | (227,611 | ) | 15,616,773 | |||||||||||||||||||
Total | $ | 15,672,940 | $ | 197,494 | $ | (227,611 | ) | $ | 15,642,823 | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Amortized Cost (1) | Gross Unrecognized Holding | Gross Unrecognized Holding (Losses) | Fair Value | |||||||||||||||||||||
Gains | ||||||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||||
GSE (4) | $ | 27,485 | $ | 1 | $ | — | $ | 27,486 | ||||||||||||||||
Total non-mortgage-backed securities | 27,485 | 1 | — | 27,486 | ||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||
Other U.S. obligation residential | 1,909,099 | 4,545 | (26,396 | ) | 1,887,248 | |||||||||||||||||||
mortgage-backed securities (2) | ||||||||||||||||||||||||
GSE residential mortgage-backed securities (3) | 14,150,578 | 141,962 | (398,877 | ) | 13,893,663 | |||||||||||||||||||
Total mortgage-backed securities | 16,059,677 | 146,507 | (425,273 | ) | 15,780,911 | |||||||||||||||||||
Total | $ | 16,087,162 | $ | 146,508 | $ | (425,273 | ) | $ | 15,808,397 | |||||||||||||||
-1 | Carrying value equals amortized cost. | |||||||||||||||||||||||
-2 | Consists of Ginnie Mae mortgage-backed securities and/or mortgage-backed securities issued or guaranteed by the National Credit Union Administration (NCUA) and the U.S. government. | |||||||||||||||||||||||
-3 | Consists of mortgage-backed securities issued and effectively guaranteed by Freddie Mac and/or Fannie Mae, which have the support of the U.S. government, although they are not obligations of the U.S. government. | |||||||||||||||||||||||
-4 | Consists of debt securities issued and effectively guaranteed by Freddie Mac and/or Fannie Mae, which have the support of the U.S. government, although they are not obligations of the U.S. government. | |||||||||||||||||||||||
Held-to-maturity Securities [Member] | ' | |||||||||||||||||||||||
Schedule of Held-to-maturity Securities [Line Items] | ' | |||||||||||||||||||||||
Premiums (Discounts) Included in Amortized Cost of Securities [Table Text Block] | ' | |||||||||||||||||||||||
Net Purchased Discounts Included in the Amortized Cost of Mortgage-backed Securities Classified as Held-to-Maturity (in thousands) | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Premiums | $ | 26,697 | $ | 32,458 | ||||||||||||||||||||
Discounts | (57,014 | ) | (58,658 | ) | ||||||||||||||||||||
Net purchased discounts | $ | (30,317 | ) | $ | (26,200 | ) | ||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | |||||||||||||||||||||||
Held-to-Maturity Securities in a Continuous Unrealized Loss Position (in thousands) | ||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or more | Total | ||||||||||||||||||||||
Fair Value | Gross Unrealized (Losses) | Fair Value | Gross Unrealized (Losses) | Fair Value | Gross Unrealized (Losses) | |||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||
Other U.S. obligation residential | $ | 871,376 | $ | (11,958 | ) | $ | — | $ | — | $ | 871,376 | $ | (11,958 | ) | ||||||||||
mortgage-backed securities (1) | ||||||||||||||||||||||||
GSE residential mortgage-backed securities (2) | 1,062,578 | (20,668 | ) | 5,549,321 | (194,985 | ) | 6,611,899 | (215,653 | ) | |||||||||||||||
Total | $ | 1,933,954 | $ | (32,626 | ) | $ | 5,549,321 | $ | (194,985 | ) | $ | 7,483,275 | $ | (227,611 | ) | |||||||||
December 31, 2013 | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or more | Total | ||||||||||||||||||||||
Fair Value | Gross Unrealized (Losses) | Fair Value | Gross Unrealized (Losses) | Fair Value | Gross Unrealized (Losses) | |||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||
Other U.S. obligation residential | $ | 663,278 | $ | (26,396 | ) | $ | — | $ | — | $ | 663,278 | $ | (26,396 | ) | ||||||||||
mortgage-backed securities (1) | ||||||||||||||||||||||||
GSE residential mortgage-backed securities (2) | 8,817,132 | (397,252 | ) | 48,902 | (1,625 | ) | 8,866,034 | (398,877 | ) | |||||||||||||||
Total | $ | 9,480,410 | $ | (423,648 | ) | $ | 48,902 | $ | (1,625 | ) | $ | 9,529,312 | $ | (425,273 | ) | |||||||||
-1 | Consists of Ginnie Mae mortgage-backed securities. | |||||||||||||||||||||||
-2 | Consists of mortgage-backed securities issued and effectively guaranteed by Freddie Mac and/or Fannie Mae, which have the support of the U.S. government, although they are not obligations of the U.S. government. | |||||||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | |||||||||||||||||||||||
Held-to-Maturity Securities by Contractual Maturity (in thousands) | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Year of Maturity | Amortized Cost (1) | Fair Value | Amortized Cost (1) | Fair Value | ||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||||
Due in 1 year or less | $ | 26,049 | $ | 26,050 | $ | 27,485 | $ | 27,486 | ||||||||||||||||
Due after 1 year through 5 years | — | — | — | — | ||||||||||||||||||||
Due after 5 years through 10 years | — | — | — | — | ||||||||||||||||||||
Due after 10 years | — | — | — | — | ||||||||||||||||||||
Total non-mortgage-backed securities | 26,049 | 26,050 | 27,485 | 27,486 | ||||||||||||||||||||
Mortgage-backed securities (2) | 15,646,891 | 15,616,773 | 16,059,677 | 15,780,911 | ||||||||||||||||||||
Total | $ | 15,672,940 | $ | 15,642,823 | $ | 16,087,162 | $ | 15,808,397 | ||||||||||||||||
-1 | Carrying value equals amortized cost. | |||||||||||||||||||||||
-2 | Mortgage-backed securities are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. | |||||||||||||||||||||||
Schedule of Interest Rate Payment Terms For Investments [Table Text Block] | ' | |||||||||||||||||||||||
Interest Rate Payment Terms of Held-to-Maturity Securities (in thousands) | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Amortized cost of non-mortgage-backed securities: | ||||||||||||||||||||||||
Fixed-rate | $ | 26,049 | $ | 27,485 | ||||||||||||||||||||
Total amortized cost of non-mortgage-backed securities | 26,049 | 27,485 | ||||||||||||||||||||||
Amortized cost of mortgage-backed securities: | ||||||||||||||||||||||||
Fixed-rate | 12,831,121 | 13,048,808 | ||||||||||||||||||||||
Variable-rate | 2,815,770 | 3,010,869 | ||||||||||||||||||||||
Total amortized cost of mortgage-backed securities | 15,646,891 | 16,059,677 | ||||||||||||||||||||||
Total | $ | 15,672,940 | $ | 16,087,162 | ||||||||||||||||||||
Advances_Advances_Tables
Advances Advances (Tables) | 6 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Advances [Abstract] | ' | ||||||||||||||
Schedule Of Federal Home Loan Bank Advances By Year Of Contractual Maturity [Table Text Block] | ' | ||||||||||||||
Advance Redemption Terms (dollars in thousands) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Redemption Term | Amount | Weighted Average Interest | Amount | Weighted Average Interest | |||||||||||
Rate | Rate | ||||||||||||||
Overdrawn demand deposit accounts | $ | 175 | 0.21 | % | $ | 150 | 0.2 | % | |||||||
Due in 1 year or less | 23,131,369 | 0.36 | 17,729,350 | 0.42 | |||||||||||
Due after 1 year through 2 years | 9,245,861 | 0.48 | 6,614,470 | 0.63 | |||||||||||
Due after 2 years through 3 years | 9,738,077 | 0.82 | 9,485,558 | 0.64 | |||||||||||
Due after 3 years through 4 years | 10,593,228 | 0.72 | 9,444,110 | 0.81 | |||||||||||
Due after 4 years through 5 years | 10,738,666 | 0.58 | 11,831,887 | 0.61 | |||||||||||
Thereafter | 5,888,419 | 1.02 | 9,987,245 | 0.78 | |||||||||||
Total par value | 69,335,795 | 0.58 | 65,092,770 | 0.62 | |||||||||||
Commitment fees | (722 | ) | (750 | ) | |||||||||||
Discount on AHP Advances | (13,549 | ) | (14,953 | ) | |||||||||||
Premiums | 3,228 | 3,413 | |||||||||||||
Discounts | (11,893 | ) | (14,104 | ) | |||||||||||
Hedging adjustments | 172,554 | 204,014 | |||||||||||||
Total | $ | 69,485,413 | $ | 65,270,390 | |||||||||||
Schedule Of Federal Home Loan Bank Advances By Contractual Maturity Or Next Call Date [Table Text Block] | ' | ||||||||||||||
Advances by Year of Contractual Maturity or Next Call Date for Callable Advances (in thousands) | |||||||||||||||
Year of Contractual Maturity | June 30, 2014 | December 31, 2013 | |||||||||||||
or Next Call Date | |||||||||||||||
Overdrawn demand deposit accounts | $ | 175 | $ | 150 | |||||||||||
Due in 1 year or less | 29,725,047 | 25,109,451 | |||||||||||||
Due after 1 year through 2 years | 7,571,181 | 5,300,184 | |||||||||||||
Due after 2 years through 3 years | 6,897,422 | 7,149,237 | |||||||||||||
Due after 3 years through 4 years | 9,769,904 | 7,050,325 | |||||||||||||
Due after 4 years through 5 years | 9,845,547 | 10,877,078 | |||||||||||||
Thereafter | 5,526,519 | 9,606,345 | |||||||||||||
Total par value | $ | 69,335,795 | $ | 65,092,770 | |||||||||||
Schedule of Advances Classified by Contractual Maturity Date or Next Put or Convert Date [Table Text Block] | ' | ||||||||||||||
Advances by Year of Contractual Maturity or Next Put/Convert Date for Putable/Convertible Advances (in thousands) | |||||||||||||||
Year of Contractual Maturity | June 30, 2014 | December 31, 2013 | |||||||||||||
or Next Put/Convert Date | |||||||||||||||
Overdrawn demand deposit accounts | $ | 175 | $ | 150 | |||||||||||
Due in 1 year or less | 24,882,269 | 19,681,750 | |||||||||||||
Due after 1 year through 2 years | 9,226,861 | 6,424,970 | |||||||||||||
Due after 2 years through 3 years | 9,224,777 | 9,338,558 | |||||||||||||
Due after 3 years through 4 years | 9,720,128 | 8,582,710 | |||||||||||||
Due after 4 years through 5 years | 10,563,166 | 11,256,887 | |||||||||||||
Thereafter | 5,718,419 | 9,807,745 | |||||||||||||
Total par value | $ | 69,335,795 | $ | 65,092,770 | |||||||||||
Schedule Of Federal Home Loan Bank Advances By Interest Rate Payment Terms [Table Text Block] | ' | ||||||||||||||
Advances by Interest Rate Payment Terms (in thousands) | |||||||||||||||
Par value of Advances | June 30, 2014 | December 31, 2013 | |||||||||||||
Total fixed-rate (1) | $ | 19,871,531 | $ | 15,480,817 | |||||||||||
Total variable-rate (1) | 49,464,264 | 49,611,953 | |||||||||||||
Total par value | $ | 69,335,795 | $ | 65,092,770 | |||||||||||
-1 | Payment terms based on current interest rate terms, which reflect any option exercises or rate conversions that have occurred subsequent to the related Advance issuance. | ||||||||||||||
Borrowers Holding Five Percent or more of Total Advances Including Known Affiliates that are Members of the FHLBank [Table Text Block] | ' | ||||||||||||||
Borrowers Holding Five Percent or more of Total Advances, Including Any Known Affiliates that are Members of the FHLBank (dollars in millions) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Principal | % of Total | Principal | % of Total | ||||||||||||
JPMorgan Chase Bank, N.A. | $ | 39,700 | 57 | % | JPMorgan Chase Bank, N.A. | $ | 41,700 | 64 | % | ||||||
U.S. Bank, N.A. | 5,467 | 8 | U.S. Bank, N.A. | 4,584 | 7 | ||||||||||
Total | $ | 45,167 | 65 | % | Total | $ | 46,284 | 71 | % | ||||||
Mortgage_Loans_Held_for_Portfo1
Mortgage Loans Held for Portfolio (Tables) | 6 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Mortgage Loans on Real Estate [Abstract] | ' | ||||||||||||||
Mortgage Loans Held for Portfolio [Table Text Block] | ' | ||||||||||||||
Mortgage Loans Held for Portfolio (in thousands) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Unpaid principal balance: | |||||||||||||||
Fixed rate medium-term single-family mortgage loans (1) | $ | 1,393,005 | $ | 1,482,345 | |||||||||||
Fixed rate long-term single-family mortgage loans | 5,130,859 | 5,160,854 | |||||||||||||
Total unpaid principal balance | 6,523,864 | 6,643,199 | |||||||||||||
Premiums | 171,573 | 177,180 | |||||||||||||
Discounts | (3,022 | ) | (3,631 | ) | |||||||||||
Hedging basis adjustments (2) | 9,284 | 8,775 | |||||||||||||
Total mortgage loans held for portfolio | $ | 6,701,699 | $ | 6,825,523 | |||||||||||
-1 | Medium-term is defined as a term of 15 years or less. | ||||||||||||||
-2 | Represents the unamortized balance of the mortgage purchase commitments' market values at the time of settlement. The market value of the commitment is included in the basis of the mortgage loan and amortized accordingly. | ||||||||||||||
Mortgage Loans Held for Portfolio by Collateral or Guarantee Type [Table Text Block] | ' | ||||||||||||||
Mortgage Loans Held for Portfolio by Collateral/Guarantee Type (in thousands) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Unpaid principal balance: | |||||||||||||||
Conventional mortgage loans | $ | 5,854,414 | $ | 5,897,804 | |||||||||||
Federal Housing Administration (FHA) mortgage loans | 669,450 | 745,395 | |||||||||||||
Total unpaid principal balance | $ | 6,523,864 | $ | 6,643,199 | |||||||||||
Members Selling Five Percent or more of Total Unpaid Principal [Table Text Block] | ' | ||||||||||||||
Members, Including Any Known Affiliates that are Members of the FHLBank, and Former Members Selling Five Percent or more of Total Unpaid Principal (dollars in millions) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Principal | % of Total | Principal | % of Total | ||||||||||||
Union Savings Bank | $ | 1,408 | 22 | % | Union Savings Bank | $ | 1,433 | 22 | % | ||||||
PNC Bank, N.A.(1) | 1,215 | 19 | PNC Bank, N.A. (1) | 1,356 | 20 | ||||||||||
The Huntington National Bank | 328 | 5 | Total | $ | 2,789 | 42 | % | ||||||||
Total | $ | 2,951 | 46 | % | |||||||||||
-1 | Former member. |
Allowance_for_Credit_Losses_Ta
Allowance for Credit Losses (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Allowance for Credit Losses [Abstract] | ' | |||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||
Rollforward of Allowance for Credit Losses on Conventional Mortgage Loans (in thousands) | ||||||||||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||||||||||
Allowance for credit losses: | 2014 | 2013 | ||||||||||||||||||||||
Balance, beginning of period | $ | 6,655 | $ | 14,832 | ||||||||||||||||||||
Charge-offs | (314 | ) | (1,656 | ) | ||||||||||||||||||||
Reversal for credit losses | (900 | ) | (4,000 | ) | ||||||||||||||||||||
Balance, end of period | $ | 5,441 | $ | 9,176 | ||||||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||
Allowance for credit losses: | 2014 | 2013 | ||||||||||||||||||||||
Balance, beginning of period | $ | 7,233 | $ | 17,907 | ||||||||||||||||||||
Charge-offs | (892 | ) | (2,231 | ) | ||||||||||||||||||||
Reversal for credit losses | (900 | ) | (6,500 | ) | ||||||||||||||||||||
Balance, end of period | $ | 5,441 | $ | 9,176 | ||||||||||||||||||||
Allowance for Credit Losses and Recorded Investment by Impairment Methodology [Table Text Block] | ' | |||||||||||||||||||||||
Allowance for Credit Losses and Recorded Investment on Conventional Mortgage Loans by Impairment Methodology (in thousands) | ||||||||||||||||||||||||
Allowance for credit losses, end of period: | June 30, 2014 | December 31, 2013 | ||||||||||||||||||||||
Collectively evaluated for impairment | $ | 5,315 | $ | 7,159 | ||||||||||||||||||||
Individually evaluated for impairment | $ | 126 | $ | 74 | ||||||||||||||||||||
Recorded investment, end of period: | ||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 6,035,908 | $ | 6,082,636 | ||||||||||||||||||||
Individually evaluated for impairment | 8,055 | 7,799 | ||||||||||||||||||||||
Total recorded investment | $ | 6,043,963 | $ | 6,090,435 | ||||||||||||||||||||
Changes in LRA [Table Text Block] | ' | |||||||||||||||||||||||
Changes in the LRA (in thousands) | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
LRA at beginning of year | $ | 115,236 | ||||||||||||||||||||||
Additions | 5,777 | |||||||||||||||||||||||
Claims | (1,185 | ) | ||||||||||||||||||||||
Scheduled distributions | (1,745 | ) | ||||||||||||||||||||||
LRA at end of period | $ | 118,083 | ||||||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||
Recorded Investment in Delinquent Mortgage Loans (dollars in thousands) | ||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Conventional MPP Loans | FHA Loans | Total | ||||||||||||||||||||||
Past due 30-59 days delinquent | $ | 36,995 | $ | 39,237 | $ | 76,232 | ||||||||||||||||||
Past due 60-89 days delinquent | 10,427 | 12,217 | 22,644 | |||||||||||||||||||||
Past due 90 days or more delinquent | 48,550 | 28,259 | 76,809 | |||||||||||||||||||||
Total past due | 95,972 | 79,713 | 175,685 | |||||||||||||||||||||
Total current mortgage loans | 5,947,991 | 602,025 | 6,550,016 | |||||||||||||||||||||
Total mortgage loans | $ | 6,043,963 | $ | 681,738 | $ | 6,725,701 | ||||||||||||||||||
Other delinquency statistics: | ||||||||||||||||||||||||
In process of foreclosure, included above (1) | $ | 40,528 | $ | 16,894 | $ | 57,422 | ||||||||||||||||||
Serious delinquency rate (2) | 0.82 | % | 4.19 | % | 1.17 | % | ||||||||||||||||||
Past due 90 days or more still accruing interest (3) | $ | 47,869 | $ | 28,259 | $ | 76,128 | ||||||||||||||||||
Loans on non-accrual status, included above | $ | 2,778 | $ | — | $ | 2,778 | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Conventional MPP Loans | FHA Loans | Total | ||||||||||||||||||||||
Past due 30-59 days delinquent | $ | 48,619 | $ | 53,305 | $ | 101,924 | ||||||||||||||||||
Past due 60-89 days delinquent | 11,971 | 18,963 | 30,934 | |||||||||||||||||||||
Past due 90 days or more delinquent | 57,934 | 32,942 | 90,876 | |||||||||||||||||||||
Total past due | 118,524 | 105,210 | 223,734 | |||||||||||||||||||||
Total current mortgage loans | 5,971,911 | 654,399 | 6,626,310 | |||||||||||||||||||||
Total mortgage loans | $ | 6,090,435 | $ | 759,609 | $ | 6,850,044 | ||||||||||||||||||
Other delinquency statistics: | ||||||||||||||||||||||||
In process of foreclosure, included above (1) | $ | 46,285 | $ | 18,595 | $ | 64,880 | ||||||||||||||||||
Serious delinquency rate (2) | 0.96 | % | 4.41 | % | 1.34 | % | ||||||||||||||||||
Past due 90 days or more still accruing interest (3) | $ | 57,543 | $ | 32,942 | $ | 90,485 | ||||||||||||||||||
Loans on non-accrual status, included above | $ | 3,077 | $ | — | $ | 3,077 | ||||||||||||||||||
-1 | Includes loans where the decision of foreclosure or a 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 (including past due or current loans in the process of foreclosure) expressed as a percentage of the total loan portfolio class recorded investment amount. | |||||||||||||||||||||||
-3 | Each conventional loan past due 90 days or more still accruing interest is on a schedule/scheduled monthly settlement basis and contains one or more credit enhancements. Loans that are well secured and in the process of collection as a result of remaining credit enhancements and schedule/scheduled settlement are not placed on non-accrual status. | |||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||
Recorded Investment in Troubled Debt Restructurings (in thousands) | ||||||||||||||||||||||||
Troubled debt restructurings: | June 30, 2014 | December 31, 2013 | ||||||||||||||||||||||
Conventional MPP Loans | $ | 8,055 | $ | 7,799 | ||||||||||||||||||||
Troubled Debt Restructurings Modified in the Previous Twelve Months That Subsequently Defaulted [Table Text Block] | ' | |||||||||||||||||||||||
Recorded Investment of Financing Receivables Modified within the Previous 12 Months and Considered Troubled Debt Restructurings that Subsequently Defaulted (in thousands) | ||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Defaulted troubled debt restructurings: | ||||||||||||||||||||||||
Conventional MPP Loans | $ | 554 | $ | — | $ | 554 | $ | — | ||||||||||||||||
Individually Evaluated Impaired Loan Statistics by Product Class Level [Table Text Block] | ' | |||||||||||||||||||||||
Individually Evaluated Impaired Loan Statistics by Product Class Level (in thousands) | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Conventional MPP loans: | Recorded Investment | Unpaid Principal Balance | Related Allowance | Recorded Investment | Unpaid Principal Balance | Related Allowance | ||||||||||||||||||
With no related | $ | 5,277 | $ | 5,159 | $ | — | $ | 4,959 | $ | 4,828 | $ | — | ||||||||||||
allowance | ||||||||||||||||||||||||
With an allowance | 2,778 | 2,744 | 126 | 2,840 | 2,801 | 74 | ||||||||||||||||||
Total | $ | 8,055 | $ | 7,903 | $ | 126 | $ | 7,799 | $ | 7,629 | $ | 74 | ||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||
Average Recorded Investment of Individually Evaluated Impaired Loans and Related Interest Income Recognized (in thousands) | ||||||||||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Individually impaired loans: | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||
Conventional MPP Loans | $ | 7,969 | $ | 104 | $ | 6,709 | $ | 90 | ||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Individually impaired loans: | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||
Conventional MPP Loans | $ | 7,839 | $ | 204 | $ | 6,281 | $ | 168 | ||||||||||||||||
Derivatives_and_Hedging_Activi1
Derivatives and Hedging Activities (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | ' | |||||||||||||||
Fair Value of Derivative Instruments (in thousands) | ||||||||||||||||
June 30, 2014 | ||||||||||||||||
Notional Amount of Derivatives | Derivative Assets | Derivative Liabilities | ||||||||||||||
Derivatives designated as fair value hedging instruments: | ||||||||||||||||
Interest rate swaps | $ | 3,987,415 | $ | 27,066 | $ | 183,504 | ||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||
Interest rate swaps | 2,908,000 | 1,224 | 6,854 | |||||||||||||
Forward rate agreements | 321,000 | 20 | 2,986 | |||||||||||||
Mortgage delivery commitments | 429,399 | 3,813 | 47 | |||||||||||||
Total derivatives not designated as hedging instruments | 3,658,399 | 5,057 | 9,887 | |||||||||||||
Total derivatives before netting and collateral adjustments | $ | 7,645,814 | 32,123 | 193,391 | ||||||||||||
Netting adjustments | (28,323 | ) | (28,323 | ) | ||||||||||||
Cash collateral and related accrued interest | 1,589 | (92,745 | ) | |||||||||||||
Total collateral and netting adjustments (1) | (26,734 | ) | (121,068 | ) | ||||||||||||
Total derivative assets and total derivative liabilities | $ | 5,389 | $ | 72,323 | ||||||||||||
December 31, 2013 | ||||||||||||||||
Notional Amount of Derivatives | Derivative Assets | Derivative Liabilities | ||||||||||||||
Derivatives designated as fair value hedging instruments: | ||||||||||||||||
Interest rate swaps | $ | 4,517,340 | $ | 36,061 | $ | 215,691 | ||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||
Interest rate swaps | 4,143,000 | 2,928 | 7,732 | |||||||||||||
Forward rate agreements | 31,000 | 454 | — | |||||||||||||
Mortgage delivery commitments | 36,620 | 2 | 412 | |||||||||||||
Total derivatives not designated as hedging instruments | 4,210,620 | 3,384 | 8,144 | |||||||||||||
Total derivatives before netting and collateral adjustments | $ | 8,727,960 | 39,445 | 223,835 | ||||||||||||
Netting adjustments | (36,204 | ) | (36,204 | ) | ||||||||||||
Cash collateral and related accrued interest | — | (89,865 | ) | |||||||||||||
Total collateral and netting adjustments (1) | (36,204 | ) | (126,069 | ) | ||||||||||||
Total derivative assets and total derivative liabilities | $ | 3,241 | $ | 97,766 | ||||||||||||
-1 | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLBank with the same counterparty. | |||||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | ' | |||||||||||||||
Net Gains (Losses) on Derivatives and Hedging Activities (in thousands) | ||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Derivatives and hedged items in fair value hedging relationships: | ||||||||||||||||
Interest rate swaps | $ | 869 | $ | 2,015 | ||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||
Economic hedges: | ||||||||||||||||
Interest rate swaps | 851 | 1,815 | ||||||||||||||
Forward rate agreements | (5,585 | ) | — | |||||||||||||
Net interest settlements | (319 | ) | (243 | ) | ||||||||||||
Mortgage delivery commitments | 7,516 | (5,044 | ) | |||||||||||||
Total net gains (losses) related to derivatives not designated as hedging instruments | 2,463 | (3,472 | ) | |||||||||||||
Net gains (losses) on derivatives and hedging activities | $ | 3,332 | $ | (1,457 | ) | |||||||||||
Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Derivatives and hedged items in fair value hedging relationships: | ||||||||||||||||
Interest rate swaps | $ | 1,153 | $ | 4,937 | ||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||
Economic hedges: | ||||||||||||||||
Interest rate swaps | 1,008 | 6,046 | ||||||||||||||
Forward rate agreements | (6,081 | ) | — | |||||||||||||
Net interest settlements | (70 | ) | 170 | |||||||||||||
Mortgage delivery commitments | 6,239 | (8,265 | ) | |||||||||||||
Total net gains (losses) related to derivatives not designated as hedging instruments | 1,096 | (2,049 | ) | |||||||||||||
Net gains on derivatives and hedging activities | $ | 2,249 | $ | 2,888 | ||||||||||||
Schedule of Derivative Instruments By Type, Gain (Loss) in Statement of Financial Performance [Table Text Block] | ' | |||||||||||||||
Effect of Fair Value Hedge Related Derivative Instruments (in thousands) | ||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||
2014 | Gain/(Loss) on Derivative | Gain/(Loss) on Hedged Item | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income(1) | ||||||||||||
Hedged Item Type: | ||||||||||||||||
Advances | $ | 11,611 | $ | (11,108 | ) | $ | 503 | $ | (23,902 | ) | ||||||
Consolidated Bonds | (3,278 | ) | 3,644 | 366 | 4,629 | |||||||||||
Total | $ | 8,333 | $ | (7,464 | ) | $ | 869 | $ | (19,273 | ) | ||||||
2013 | ||||||||||||||||
Hedged Item Type: | ||||||||||||||||
Advances | $ | 68,359 | $ | (66,374 | ) | $ | 1,985 | $ | (28,336 | ) | ||||||
Consolidated Bonds | (9,407 | ) | 9,437 | 30 | 7,522 | |||||||||||
Total | $ | 58,952 | $ | (56,937 | ) | $ | 2,015 | $ | (20,814 | ) | ||||||
Six Months Ended June 30, | ||||||||||||||||
2014 | Gain/(Loss) on Derivative | Gain/(Loss) on Hedged Item | Net Fair Value Hedge Ineffectiveness | Effect of Derivatives on Net Interest Income(1) | ||||||||||||
Hedged Item Type: | ||||||||||||||||
Advances | $ | 30,327 | $ | (29,572 | ) | $ | 755 | $ | (48,270 | ) | ||||||
Consolidated Bonds | (7,387 | ) | 7,785 | 398 | 9,481 | |||||||||||
Total | $ | 22,940 | $ | (21,787 | ) | $ | 1,153 | $ | (38,789 | ) | ||||||
2013 | ||||||||||||||||
Hedged Item Type: | ||||||||||||||||
Advances | $ | 108,779 | $ | (104,157 | ) | $ | 4,622 | $ | (57,088 | ) | ||||||
Consolidated Bonds | (18,054 | ) | 18,369 | 315 | 16,010 | |||||||||||
Total | $ | 90,725 | $ | (85,788 | ) | $ | 4,937 | $ | (41,078 | ) | ||||||
-1 | The net interest on derivatives in fair value hedge relationships is included in the interest income/expense line item of the respective hedged item. | |||||||||||||||
Offsetting Assets and Liabilities [Table Text Block] | ' | |||||||||||||||
Offsetting of Derivative Assets and Derivative Liabilities (in thousands) | ||||||||||||||||
June 30, 2014 | ||||||||||||||||
Derivative Assets | Derivative Liabilities | |||||||||||||||
Derivative instruments meeting netting requirements: | ||||||||||||||||
Gross recognized amount: | ||||||||||||||||
Bilateral derivatives | $ | 28,064 | $ | 189,860 | ||||||||||||
Cleared derivatives | 226 | 498 | ||||||||||||||
Total gross recognized amount | 28,290 | 190,358 | ||||||||||||||
Gross amounts of netting adjustments and cash collateral: | ||||||||||||||||
Bilateral derivatives | (27,826 | ) | (120,570 | ) | ||||||||||||
Cleared derivatives | 1,092 | (498 | ) | |||||||||||||
Total gross amounts of netting adjustments and cash collateral | (26,734 | ) | (121,068 | ) | ||||||||||||
Net amounts after netting adjustments and cash collateral: | ||||||||||||||||
Bilateral derivatives | 238 | 69,290 | ||||||||||||||
Cleared derivatives | 1,318 | — | ||||||||||||||
Total net amounts after netting adjustments and cash collateral | 1,556 | 69,290 | ||||||||||||||
Derivative instruments not meeting netting requirements(1): | ||||||||||||||||
Bilateral derivatives | 3,833 | 3,033 | ||||||||||||||
Total derivative instruments not meeting netting requirements(1) | 3,833 | 3,033 | ||||||||||||||
Total derivative assets and total derivative liabilities: | ||||||||||||||||
Bilateral derivatives | 4,071 | 72,323 | ||||||||||||||
Cleared derivatives | 1,318 | — | ||||||||||||||
Total derivative assets and total derivative liabilities | $ | 5,389 | $ | 72,323 | ||||||||||||
December 31, 2013 | ||||||||||||||||
Derivative Assets | Derivative Liabilities | |||||||||||||||
Derivative instruments meeting netting requirements: | ||||||||||||||||
Gross recognized amount | $ | 38,989 | $ | 223,423 | ||||||||||||
Gross amounts of netting adjustments and cash collateral | (36,204 | ) | (126,069 | ) | ||||||||||||
Net amounts after netting adjustments and cash collateral | 2,785 | 97,354 | ||||||||||||||
Derivative instruments not meeting netting requirements(1) | 456 | 412 | ||||||||||||||
Total derivative assets and total derivative liabilities | $ | 3,241 | $ | 97,766 | ||||||||||||
-1 | Represents mortgage delivery commitments and forward rate agreements that are not subject to an enforceable netting agreement. |
Deposits_Tables
Deposits (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Deposits [Abstract] | ' | |||||||
Schedule of Deposit Liabilities by Component [Table Text Block] | ' | |||||||
Deposits (in thousands) | ||||||||
June 30, 2014 | December 31, 2013 | |||||||
Interest bearing: | ||||||||
Demand and overnight | $ | 711,524 | $ | 796,039 | ||||
Term | 86,050 | 96,100 | ||||||
Other | 5,954 | 5,872 | ||||||
Total interest bearing | 803,528 | 898,011 | ||||||
Non-interest bearing: | ||||||||
Other | 250 | 15,884 | ||||||
Total non-interest bearing | 250 | 15,884 | ||||||
Total deposits | $ | 803,778 | $ | 913,895 | ||||
Consolidated_Obligations_Table
Consolidated Obligations (Tables) | 6 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | ||||||||||||||
Consolidated Bonds Outstanding by Contractual Maturity (dollars in thousands) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Year of Contractual Maturity | Amount | Weighted Average Interest Rate | Amount | Weighted Average Interest Rate | |||||||||||
Due in 1 year or less | $ | 25,741,500 | 0.36 | % | $ | 35,691,500 | 0.34 | % | |||||||
Due after 1 year through 2 years | 13,674,000 | 0.46 | 2,802,000 | 1.66 | |||||||||||
Due after 2 years through 3 years | 3,518,000 | 1.9 | 3,295,000 | 2.12 | |||||||||||
Due after 3 years through 4 years | 4,392,000 | 1.56 | 3,689,000 | 1.67 | |||||||||||
Due after 4 years through 5 years | 3,000,000 | 1.95 | 3,415,000 | 1.86 | |||||||||||
Thereafter | 9,187,000 | 2.68 | 9,102,000 | 2.66 | |||||||||||
Index amortizing notes | 28,702 | 5.07 | 32,746 | 5.07 | |||||||||||
Total par value | 59,541,202 | 1 | 58,027,246 | 1.04 | |||||||||||
Premiums | 113,714 | 123,820 | |||||||||||||
Discounts | (24,926 | ) | (22,781 | ) | |||||||||||
Hedging adjustments | 23,298 | 31,084 | |||||||||||||
Fair value option valuation adjustment and | 23 | 3,370 | |||||||||||||
accrued interest | |||||||||||||||
Total | $ | 59,653,311 | $ | 58,162,739 | |||||||||||
Schedule of Short-term Debt [Table Text Block] | ' | ||||||||||||||
Consolidated Discount Notes Outstanding (dollars in thousands) | |||||||||||||||
Book Value | Par Value | Weighted Average Interest Rate (1) | |||||||||||||
30-Jun-14 | $ | 35,389,600 | $ | 35,391,576 | 0.06 | % | |||||||||
31-Dec-13 | $ | 38,209,946 | $ | 38,216,860 | 0.09 | % | |||||||||
-1 | Represents an implied rate without consideration of concessions. | ||||||||||||||
Schedule Of Consolidated Obligation Bonds By Call Feature [Table Text Block] | ' | ||||||||||||||
Consolidated Bonds Outstanding by Features (in thousands) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Par value of Consolidated Bonds: | |||||||||||||||
Non-callable | $ | 49,669,202 | $ | 46,670,246 | |||||||||||
Callable | 9,872,000 | 11,357,000 | |||||||||||||
Total par value | $ | 59,541,202 | $ | 58,027,246 | |||||||||||
Schedule Of Maturities of Consolidated Obligation Bonds By Contractual Or Next Call Date [Table Text Block] | ' | ||||||||||||||
Consolidated Bonds Outstanding by Contractual Maturity or Next Call Date (in thousands) | |||||||||||||||
Year of Contractual Maturity or Next Call Date | June 30, 2014 | December 31, 2013 | |||||||||||||
Due in 1 year or less | $ | 32,013,500 | $ | 41,493,500 | |||||||||||
Due after 1 year through 2 years | 14,284,000 | 3,827,000 | |||||||||||||
Due after 2 years through 3 years | 2,968,000 | 2,915,000 | |||||||||||||
Due after 3 years through 4 years | 2,840,000 | 2,427,000 | |||||||||||||
Due after 4 years through 5 years | 2,035,000 | 2,095,000 | |||||||||||||
Thereafter | 5,372,000 | 5,237,000 | |||||||||||||
Index amortizing notes | 28,702 | 32,746 | |||||||||||||
Total par value | $ | 59,541,202 | $ | 58,027,246 | |||||||||||
Schedule Of Consolidated Obligation Bonds By Interest Rate Payment Terms [Table Text Block] | ' | ||||||||||||||
Consolidated Bonds by Interest-rate Payment Type (in thousands) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Par value of Consolidated Bonds: | |||||||||||||||
Fixed-rate | $ | 28,601,202 | $ | 29,362,246 | |||||||||||
Variable-rate | 30,910,000 | 28,650,000 | |||||||||||||
Step-up | 30,000 | 15,000 | |||||||||||||
Total par value | $ | 59,541,202 | $ | 58,027,246 | |||||||||||
Affordable_Housing_Program_AHP1
Affordable Housing Program (AHP) (Tables) | 6 Months Ended | |||
Jun. 30, 2014 | ||||
Affordable Housing Program (AHP) [Abstract] | ' | |||
Schedule of Activity in Affordable Housing Program Obligation [Table Text Block] | ' | |||
Analysis of the FHLBank's AHP Liability (in thousands) | ||||
Balance at December 31, 2013 | $ | 93,789 | ||
Assessments (current year additions) | 13,351 | |||
Subsidy uses, net | (10,597 | ) | ||
Balance at June 30, 2014 | $ | 96,543 | ||
Capital_Tables
Capital (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Capital [Abstract] | ' | |||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | ' | |||||||||||||||
Capital Requirements (dollars in thousands) | ||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||
Minimum Requirement | Actual | Minimum Requirement | Actual | |||||||||||||
Risk-based capital | $ | 491,095 | $ | 4,973,928 | $ | 547,455 | $ | 5,435,002 | ||||||||
Capital-to-assets ratio (regulatory) | 4 | % | 4.91 | % | 4 | % | 5.27 | % | ||||||||
Regulatory capital | $ | 4,050,339 | $ | 4,973,928 | $ | 4,127,228 | $ | 5,435,002 | ||||||||
Leverage capital-to-assets ratio (regulatory) | 5 | % | 7.37 | % | 5 | % | 7.9 | % | ||||||||
Leverage capital | $ | 5,062,924 | $ | 7,460,892 | $ | 5,159,035 | $ | 8,152,503 | ||||||||
Schedule of Mandatorily Redeemable Capital Stock [Table Text Block] | ' | |||||||||||||||
Mandatorily Redeemable Capital Stock Roll Forward (in thousands) | ||||||||||||||||
Balance, December 31, 2013 | $ | 115,853 | ||||||||||||||
Capital stock subject to mandatory redemption reclassified | 16,600 | |||||||||||||||
from equity | ||||||||||||||||
Redemption (or other reduction) of mandatorily redeemable | (20,181 | ) | ||||||||||||||
capital stock | ||||||||||||||||
Balance, June 30, 2014 | $ | 112,272 | ||||||||||||||
Schedule of Mandatorily Redeemable Capital Stock by Maturity Date [Table Text Block] | ' | |||||||||||||||
Mandatorily Redeemable Capital Stock by Contractual Year of Redemption (in thousands) | ||||||||||||||||
Contractual Year of Redemption | June 30, 2014 | December 31, 2013 | ||||||||||||||
Due in 1 year or less | $ | 107,530 | $ | 114,531 | ||||||||||||
Due after 1 year through 2 years | — | 130 | ||||||||||||||
Due after 2 years through 3 years | — | — | ||||||||||||||
Due after 3 years through 4 years | — | — | ||||||||||||||
Due after 4 years through 5 years | 2,371 | 71 | ||||||||||||||
Past contractual redemption date due to remaining activity(1) | 2,371 | 1,121 | ||||||||||||||
Total par value | $ | 112,272 | $ | 115,853 | ||||||||||||
-1 | Represents mandatorily redeemable capital stock that is past the end of the contractual redemption period because there is activity outstanding to which the mandatorily redeemable capital stock relates. |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive (Loss) Income (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||
Accumulated Other Comprehensive (Loss) Income (in thousands) | ||||||||||||
Net unrealized gains (losses) on available-for-sale securities | Pension and postretirement benefits | Total accumulated other comprehensive (loss) income | ||||||||||
BALANCE, MARCH 31, 2013 | $ | 44 | $ | (11,284 | ) | $ | (11,240 | ) | ||||
Other comprehensive income before reclassification: | ||||||||||||
Net unrealized losses | (39 | ) | — | (39 | ) | |||||||
Reclassifications from other comprehensive income to net income: | ||||||||||||
Amortization - pension and postretirement benefits | — | 482 | 482 | |||||||||
Net current period other comprehensive income | (39 | ) | 482 | 443 | ||||||||
BALANCE, JUNE 30, 2013 | $ | 5 | $ | (10,802 | ) | $ | (10,797 | ) | ||||
BALANCE, MARCH 31, 2014 | $ | (160 | ) | $ | (8,608 | ) | $ | (8,768 | ) | |||
Other comprehensive income before reclassification: | ||||||||||||
Net unrealized gains | 141 | — | 141 | |||||||||
Reclassifications from other comprehensive income to net income: | ||||||||||||
Amortization - pension and postretirement benefits | — | 313 | 313 | |||||||||
Net current period other comprehensive income | 141 | 313 | 454 | |||||||||
BALANCE, JUNE 30, 2014 | $ | (19 | ) | $ | (8,295 | ) | $ | (8,314 | ) | |||
Net unrealized gains (losses) on available-for-sale securities | Pension and postretirement benefits | Total accumulated other comprehensive (loss) income | ||||||||||
BALANCE, DECEMBER 31, 2012 | $ | — | $ | (11,734 | ) | $ | (11,734 | ) | ||||
Other comprehensive income before reclassification: | ||||||||||||
Net unrealized gains | 5 | — | 5 | |||||||||
Reclassifications from other comprehensive income to net income: | ||||||||||||
Amortization - pension and postretirement benefits | — | 932 | 932 | |||||||||
Net current period other comprehensive income | 5 | 932 | 937 | |||||||||
BALANCE, JUNE 30, 2013 | $ | 5 | $ | (10,802 | ) | $ | (10,797 | ) | ||||
BALANCE, DECEMBER 31, 2013 | $ | (121 | ) | $ | (8,921 | ) | $ | (9,042 | ) | |||
Other comprehensive income before reclassification: | ||||||||||||
Net unrealized gains | 102 | — | 102 | |||||||||
Reclassifications from other comprehensive income to net income: | ||||||||||||
Amortization - pension and postretirement benefits | — | 626 | 626 | |||||||||
Net current period other comprehensive income | 102 | 626 | 728 | |||||||||
BALANCE, JUNE 30, 2014 | $ | (19 | ) | $ | (8,295 | ) | $ | (8,314 | ) |
Pension_and_Postretirement_Ben1
Pension and Postretirement Benefit Plans (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | |||||||||||||||
Net Periodic Benefit Cost (in thousands) | ||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||
Defined Benefit | Postretirement Benefits Plan | |||||||||||||||
Retirement Plan | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net Periodic Benefit Cost | ||||||||||||||||
Service cost | $ | 107 | $ | 113 | $ | 8 | $ | 9 | ||||||||
Interest cost | 273 | 250 | 30 | 34 | ||||||||||||
Amortization of net loss | 313 | 450 | — | 32 | ||||||||||||
Net periodic benefit cost | $ | 693 | $ | 813 | $ | 38 | $ | 75 | ||||||||
Six Months Ended June 30, | ||||||||||||||||
Defined Benefit | Postretirement Benefits Plan | |||||||||||||||
Retirement Plan | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net Periodic Benefit Cost | ||||||||||||||||
Service cost | $ | 215 | $ | 225 | $ | 16 | $ | 28 | ||||||||
Interest cost | 546 | 500 | 57 | 99 | ||||||||||||
Amortization of net loss | 626 | 900 | — | 32 | ||||||||||||
Net periodic benefit cost | $ | 1,387 | $ | 1,625 | $ | 73 | $ | 159 | ||||||||
Segment_Information_Tables
Segment Information (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||
Financial Performance by Operating Segment (in thousands) | ||||||||||||
Three Months Ended June 30, | ||||||||||||
Traditional Member | MPP | Total | ||||||||||
Finance | ||||||||||||
2014 | ||||||||||||
Net interest income | $ | 58,884 | $ | 18,050 | $ | 76,934 | ||||||
Reversal for credit losses | — | (900 | ) | (900 | ) | |||||||
Net interest income after reversal for credit losses | 58,884 | 18,950 | 77,834 | |||||||||
Other income | 4,391 | 1,933 | 6,324 | |||||||||
Other expenses | 14,598 | 2,087 | 16,685 | |||||||||
Income before assessments | 48,677 | 18,796 | 67,473 | |||||||||
Affordable Housing Program assessments | 4,983 | 1,880 | 6,863 | |||||||||
Net income | $ | 43,694 | $ | 16,916 | $ | 60,610 | ||||||
Average assets | $ | 94,796,053 | $ | 6,696,021 | $ | 101,492,074 | ||||||
Total assets | $ | 94,537,107 | $ | 6,721,379 | $ | 101,258,486 | ||||||
2013 | ||||||||||||
Net interest income | $ | 55,766 | $ | 23,347 | $ | 79,113 | ||||||
Reversal for credit losses | — | (4,000 | ) | (4,000 | ) | |||||||
Net interest income after reversal for credit losses | 55,766 | 27,347 | 83,113 | |||||||||
Other income (loss) | 6,511 | (5,043 | ) | 1,468 | ||||||||
Other expenses | 13,588 | 2,080 | 15,668 | |||||||||
Income before assessments | 48,689 | 20,224 | 68,913 | |||||||||
Affordable Housing Program assessments | 5,011 | 2,022 | 7,033 | |||||||||
Net income | $ | 43,678 | $ | 18,202 | $ | 61,880 | ||||||
Average assets | $ | 86,698,404 | $ | 7,129,429 | $ | 93,827,833 | ||||||
Total assets | $ | 88,309,400 | $ | 7,010,196 | $ | 95,319,596 | ||||||
Six Months Ended June 30, | ||||||||||||
Traditional Member | MPP | Total | ||||||||||
Finance | ||||||||||||
2014 | ||||||||||||
Net interest income | $ | 116,065 | $ | 37,883 | $ | 153,948 | ||||||
Reversal for credit losses | — | (900 | ) | (900 | ) | |||||||
Net interest income after reversal for credit losses | 116,065 | 38,783 | 154,848 | |||||||||
Other income | 9,908 | 160 | 10,068 | |||||||||
Other expenses | 29,337 | 4,424 | 33,761 | |||||||||
Income before assessments | 96,636 | 34,519 | 131,155 | |||||||||
Affordable Housing Program assessments | 9,899 | 3,452 | 13,351 | |||||||||
Net income | $ | 86,737 | $ | 31,067 | $ | 117,804 | ||||||
Average assets | $ | 95,103,409 | $ | 6,738,740 | $ | 101,842,149 | ||||||
Total assets | $ | 94,537,107 | $ | 6,721,379 | $ | 101,258,486 | ||||||
2013 | ||||||||||||
Net interest income | $ | 104,371 | $ | 50,299 | $ | 154,670 | ||||||
Reversal for credit losses | — | (6,500 | ) | (6,500 | ) | |||||||
Net interest income after reversal for credit losses | 104,371 | 56,799 | 161,170 | |||||||||
Other income (loss) | 17,436 | (8,263 | ) | 9,173 | ||||||||
Other expenses | 26,499 | 4,184 | 30,683 | |||||||||
Income before assessments | 95,308 | 44,352 | 139,660 | |||||||||
Affordable Housing Program assessments | 9,835 | 4,435 | 14,270 | |||||||||
Net income | $ | 85,473 | $ | 39,917 | $ | 125,390 | ||||||
Average assets | $ | 81,884,300 | $ | 7,265,792 | $ | 89,150,092 | ||||||
Total assets | $ | 88,309,400 | $ | 7,010,196 | $ | 95,319,596 | ||||||
Fair_Value_Disclosures_Fair_Va
Fair Value Disclosures Fair Value (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | |||||||||||||||||||||||
Fair Value Summary (in thousands) | ||||||||||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||
Financial Instruments | Carrying Value | Total | Level 1 | Level 2 | Level 3 | Netting Adjustments and Cash Collateral (1) | ||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Cash and due from banks | $ | 219,048 | $ | 219,048 | $ | 219,048 | $ | — | $ | — | $ | — | ||||||||||||
Interest-bearing deposits | 218 | 218 | — | 218 | — | — | ||||||||||||||||||
Securities purchased under resale | 5,950,000 | 5,950,000 | — | 5,950,000 | — | — | ||||||||||||||||||
agreements | ||||||||||||||||||||||||
Federal funds sold | 1,105,000 | 1,105,000 | — | 1,105,000 | — | — | ||||||||||||||||||
Trading securities | 1,469 | 1,469 | — | 1,469 | — | — | ||||||||||||||||||
Available-for-sale securities | 2,004,981 | 2,004,981 | — | 2,004,981 | — | — | ||||||||||||||||||
Held-to-maturity securities | 15,672,940 | 15,642,823 | — | 15,642,823 | — | — | ||||||||||||||||||
Advances | 69,485,413 | 69,411,038 | — | 69,411,038 | — | — | ||||||||||||||||||
Mortgage loans held for portfolio, | 6,696,258 | 6,898,519 | — | 6,852,000 | 46,519 | — | ||||||||||||||||||
net | ||||||||||||||||||||||||
Accrued interest receivable | 82,057 | 82,057 | — | 82,057 | — | — | ||||||||||||||||||
Derivative assets | 5,389 | 5,389 | — | 32,123 | — | (26,734 | ) | |||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Deposits | 803,778 | 803,678 | — | 803,678 | — | — | ||||||||||||||||||
Consolidated Obligations: | ||||||||||||||||||||||||
Discount Notes | 35,389,600 | 35,386,153 | — | 35,386,153 | — | — | ||||||||||||||||||
Bonds (2) | 59,653,311 | 59,845,107 | — | 59,845,107 | — | — | ||||||||||||||||||
Mandatorily redeemable capital | 112,272 | 112,272 | 112,272 | — | — | — | ||||||||||||||||||
stock | ||||||||||||||||||||||||
Accrued interest payable | 118,032 | 118,032 | — | 118,032 | — | — | ||||||||||||||||||
Derivative liabilities | 72,323 | 72,323 | — | 193,391 | — | (121,068 | ) | |||||||||||||||||
Other: | ||||||||||||||||||||||||
Commitments to extend credit for Advances | — | 1 | — | 1 | — | — | ||||||||||||||||||
Standby bond purchase agreements | — | 2,517 | — | 2,517 | — | — | ||||||||||||||||||
-1 | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLBank with the same counterparty. | |||||||||||||||||||||||
-2 | Includes (in thousands) $2,780,023 of Consolidated Bonds recorded under the fair value option at June 30, 2014. | |||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||
Financial Instruments | Carrying Value | Total | Level 1 | Level 2 | Level 3 | Netting Adjustments and Cash Collateral (1) | ||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Cash and due from banks | $ | 8,598,933 | $ | 8,598,933 | $ | 8,598,933 | $ | — | $ | — | $ | — | ||||||||||||
Interest-bearing deposits | 166 | 166 | — | 166 | — | — | ||||||||||||||||||
Securities purchased under resale agreements | 2,350,000 | 2,350,000 | — | 2,350,000 | — | — | ||||||||||||||||||
Federal funds sold | 1,740,000 | 1,740,000 | — | 1,740,000 | — | — | ||||||||||||||||||
Trading securities | 1,578 | 1,578 | — | 1,578 | — | — | ||||||||||||||||||
Available-for-sale securities | 2,184,879 | 2,184,879 | — | 2,184,879 | — | — | ||||||||||||||||||
Held-to-maturity securities | 16,087,162 | 15,808,397 | — | 15,808,397 | — | — | ||||||||||||||||||
Advances | 65,270,390 | 65,065,523 | — | 65,065,523 | — | — | ||||||||||||||||||
Mortgage loans held for portfolio, net | 6,818,290 | 6,827,406 | — | 6,774,514 | 52,892 | — | ||||||||||||||||||
Accrued interest receivable | 85,151 | 85,151 | — | 85,151 | — | — | ||||||||||||||||||
Derivative assets | 3,241 | 3,241 | — | 39,445 | — | (36,204 | ) | |||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Deposits | 913,895 | 913,799 | — | 913,799 | — | — | ||||||||||||||||||
Consolidated Obligations: | ||||||||||||||||||||||||
Discount Notes | 38,209,946 | 38,200,971 | — | 38,200,971 | — | — | ||||||||||||||||||
Bonds (2) | 58,162,739 | 58,075,025 | — | 58,075,025 | — | — | ||||||||||||||||||
Mandatorily redeemable capital stock | 115,853 | 115,853 | 115,853 | — | — | — | ||||||||||||||||||
Accrued interest payable | 116,381 | 116,381 | — | 116,381 | — | — | ||||||||||||||||||
Derivative liabilities | 97,766 | 97,766 | — | 223,835 | — | (126,069 | ) | |||||||||||||||||
Other: | ||||||||||||||||||||||||
Standby bond purchase agreements | — | 3,715 | — | 3,715 | — | — | ||||||||||||||||||
-1 | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLBank with the same counterparty. | |||||||||||||||||||||||
-2 | Includes (in thousands) $4,018,370 of Consolidated Bonds recorded under the fair value option at December 31, 2013. | |||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | |||||||||||||||||||||||
Fair Value Measurements (in thousands) | ||||||||||||||||||||||||
Fair Value Measurements at June 30, 2014 | ||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral (1) | ||||||||||||||||||||
Recurring fair value measurements - Assets | ||||||||||||||||||||||||
Trading securities: | ||||||||||||||||||||||||
Other U.S. obligation residential mortgage-backed securities | $ | 1,469 | $ | — | $ | 1,469 | $ | — | $ | — | ||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||
Certificates of deposit | 2,004,981 | — | 2,004,981 | — | — | |||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||
Interest rate swaps | 1,556 | — | 28,290 | — | (26,734 | ) | ||||||||||||||||||
Forward rate agreements | 20 | — | 20 | — | — | |||||||||||||||||||
Mortgage delivery commitments | 3,813 | — | 3,813 | — | — | |||||||||||||||||||
Total derivative assets | 5,389 | — | 32,123 | — | (26,734 | ) | ||||||||||||||||||
Total assets at fair value | $ | 2,011,839 | $ | — | $ | 2,038,573 | $ | — | $ | (26,734 | ) | |||||||||||||
Recurring fair value measurements - Liabilities | ||||||||||||||||||||||||
Consolidated Obligation Bonds (2) | $ | 2,780,023 | $ | — | $ | 2,780,023 | $ | — | $ | — | ||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||
Interest rate swaps | 69,290 | — | 190,358 | — | (121,068 | ) | ||||||||||||||||||
Forward rate agreement | 2,986 | — | 2,986 | — | — | |||||||||||||||||||
Mortgage delivery commitments | 47 | — | 47 | — | — | |||||||||||||||||||
Total derivative liabilities | 72,323 | — | 193,391 | — | (121,068 | ) | ||||||||||||||||||
Total liabilities at fair value | $ | 2,852,346 | $ | — | $ | 2,973,414 | $ | — | $ | (121,068 | ) | |||||||||||||
-1 | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLBank with the same counterparty. | |||||||||||||||||||||||
-2 | Represents Consolidated Obligation Bonds recorded under the fair value option. | |||||||||||||||||||||||
Fair Value Measurements at December 31, 2013 | ||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Netting Adjustment and Cash Collateral (1) | ||||||||||||||||||||
Recurring fair value measurements - Assets | ||||||||||||||||||||||||
Trading securities: | ||||||||||||||||||||||||
Other U.S. obligation residential mortgage-backed securities | $ | 1,578 | $ | — | $ | 1,578 | $ | — | $ | — | ||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||
Certificates of deposit | 2,184,879 | — | 2,184,879 | — | — | |||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||
Interest rate swaps | 2,785 | — | 38,989 | — | (36,204 | ) | ||||||||||||||||||
Forward rate agreements | 454 | — | 454 | — | — | |||||||||||||||||||
Mortgage delivery commitments | 2 | — | 2 | — | — | |||||||||||||||||||
Total derivative assets | 3,241 | — | 39,445 | — | (36,204 | ) | ||||||||||||||||||
Total assets at fair value | $ | 2,189,698 | $ | — | $ | 2,225,902 | $ | — | $ | (36,204 | ) | |||||||||||||
Recurring fair value measurements - Liabilities | ||||||||||||||||||||||||
Consolidated Obligation Bonds (2) | $ | 4,018,370 | $ | — | $ | 4,018,370 | $ | — | $ | — | ||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||
Interest rate swaps | 97,354 | — | 223,423 | — | (126,069 | ) | ||||||||||||||||||
Mortgage delivery commitments | 412 | — | 412 | — | — | |||||||||||||||||||
Total derivative liabilities | 97,766 | — | 223,835 | — | (126,069 | ) | ||||||||||||||||||
Total liabilities at fair value | $ | 4,116,136 | $ | — | $ | 4,242,205 | $ | — | $ | (126,069 | ) | |||||||||||||
-1 | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLBank with the same counterparty. | |||||||||||||||||||||||
-2 | Represents Consolidated Obligation Bonds recorded under the fair value option. | |||||||||||||||||||||||
Fair Value, Option, Quantitative Disclosures [Table Text Block] | ' | |||||||||||||||||||||||
Fair Value Option Financial Liabilities (in thousands) | ||||||||||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Consolidated Bonds | Consolidated Bonds | |||||||||||||||||||||||
Balance at beginning of period | $ | (2,265,459 | ) | $ | (2,002,068 | ) | ||||||||||||||||||
New transactions elected for fair value option | (1,515,000 | ) | — | |||||||||||||||||||||
Maturities and terminations | 1,000,000 | 1,900,000 | ||||||||||||||||||||||
Net (losses) gains on instruments held under fair value option | (80 | ) | 355 | |||||||||||||||||||||
Change in accrued interest | 516 | 1,604 | ||||||||||||||||||||||
Balance at end of period | $ | (2,780,023 | ) | $ | (100,109 | ) | ||||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Consolidated Bonds | Consolidated Bonds | |||||||||||||||||||||||
Balance at beginning of period | $ | (4,018,370 | ) | $ | (3,402,366 | ) | ||||||||||||||||||
New transactions elected for fair value option | (2,765,000 | ) | — | |||||||||||||||||||||
Maturities and terminations | 4,000,000 | 3,300,000 | ||||||||||||||||||||||
Net gains on instruments held under fair value option | 1,280 | 887 | ||||||||||||||||||||||
Change in accrued interest | 2,067 | 1,370 | ||||||||||||||||||||||
Balance at end of period | $ | (2,780,023 | ) | $ | (100,109 | ) | ||||||||||||||||||
Fair Value, Option, Quantitative Disclosures, Change in Fair Value Included in Earnings [Table Text Block] | ' | |||||||||||||||||||||||
Changes in Fair Values for Items Measured at Fair Value Pursuant to the Election of the Fair Value Option (in thousands) | ||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Consolidated Bonds | Consolidated Bonds | Consolidated Bonds | Consolidated Bonds | |||||||||||||||||||||
Interest expense | $ | (841 | ) | $ | (701 | ) | $ | (2,439 | ) | $ | (2,060 | ) | ||||||||||||
Net (losses) gains on changes in fair value under fair value option | (80 | ) | 355 | 1,280 | 887 | |||||||||||||||||||
Total changes in fair value included in current period earnings | $ | (921 | ) | $ | (346 | ) | $ | (1,159 | ) | $ | (1,173 | ) | ||||||||||||
Fair Value Option, Quantitative Disclosure, Difference Between Aggregate Fair Value and Aggregate Remaining Contractual Principal Balance Outstanding [Table Text Block] | ' | |||||||||||||||||||||||
Aggregate Unpaid Balance and Aggregate Fair Value (in thousands) | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Aggregate Unpaid Principal Balance | Aggregate Fair Value | Aggregate Fair Value Over/(Under) Aggregate Unpaid Principal Balance | Aggregate Unpaid Principal Balance | Aggregate Fair Value | Aggregate Fair Value Over/(Under) Aggregate Unpaid Principal Balance | |||||||||||||||||||
Consolidated Bonds | $ | 2,780,000 | $ | 2,780,023 | $ | 23 | $ | 4,015,000 | $ | 4,018,370 | $ | 3,370 | ||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||||||||||||||
Off-Balance Sheet Commitments [Table Text Block] | ' | |||||||||||||||||||||||
Off-Balance Sheet Commitments (in thousands) | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
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 | $ | 14,981,000 | $ | 581,569 | $ | 15,562,569 | $ | 13,317,887 | $ | 154,086 | $ | 13,471,973 | ||||||||||||
Commitments for standby bond purchases | 38,480 | 215,265 | 253,745 | 10,960 | 273,025 | 283,985 | ||||||||||||||||||
Commitments to fund additional Advances | 3,000 | — | 3,000 | — | — | — | ||||||||||||||||||
Commitments to purchase mortgage loans | 429,399 | — | 429,399 | 36,620 | — | 36,620 | ||||||||||||||||||
Unsettled Consolidated Bonds, at par (1) | — | — | — | 240,000 | — | 240,000 | ||||||||||||||||||
Unsettled Consolidated Discount Notes, at par (1) | 5,000 | — | 5,000 | 1,122,298 | — | 1,122,298 | ||||||||||||||||||
-1 | Expiration is based on settlement period rather than underlying contractual maturity of Consolidated Obligations. |
Transactions_with_Other_FHLBan1
Transactions with Other FHLBanks (Tables) (Other FHLBanks [Member]) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Other FHLBanks [Member] | ' | |||||||
Schedule of Other Transactions [Line Items] | ' | |||||||
Schedule of Other Transactions by Balance Sheet Grouping [Table Text Block] | ' | |||||||
Lending and Borrowing Between the FHLBank and Other FHLBanks (in thousands) | ||||||||
Average Daily Balances for the Six Months Ended June 30, | ||||||||
2014 | 2013 | |||||||
Loans to other FHLBanks | $ | 166 | $ | 4,779 | ||||
Borrowings from other FHLBanks | — | 8,287 | ||||||
Transactions_with_Stockholders1
Transactions with Stockholders (Tables) | 6 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Schedule of Other Transactions [Line Items] | ' | ||||||||||||||
Schedule of Transactions with Members and Former Members [Table Text Block] | ' | ||||||||||||||
Stockholders Holding Five Percent or more of Regulatory Capital Stock (dollars in millions) | |||||||||||||||
Regulatory Capital Stock | Advance | MPP Unpaid | |||||||||||||
June 30, 2014 | Balance | % of Total | Principal | Principal Balance | |||||||||||
JPMorgan Chase Bank, N.A. | $ | 1,533 | 35 | % | $ | 39,700 | $ | — | |||||||
U.S. Bank, N.A. | 475 | 11 | 5,467 | 42 | |||||||||||
Fifth Third Bank | 248 | 6 | 1,775 | 4 | |||||||||||
Total | $ | 2,256 | 52 | % | $ | 46,942 | $ | 46 | |||||||
Regulatory Capital Stock | Advance | MPP Unpaid | |||||||||||||
December 31, 2013 | Balance | % of Total | Principal | Principal Balance | |||||||||||
JPMorgan Chase Bank, N.A. | $ | 1,533 | 32 | % | $ | 41,700 | $ | — | |||||||
U.S. Bank, N.A. | 592 | 12 | 4,584 | 45 | |||||||||||
Fifth Third Bank | 401 | 8 | 26 | 4 | |||||||||||
Total | $ | 2,526 | 52 | % | $ | 46,310 | $ | 49 | |||||||
Director Transaction [Member] | ' | ||||||||||||||
Schedule of Other Transactions [Line Items] | ' | ||||||||||||||
Schedule of Other Transactions by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||
Transactions with Directors' Financial Institutions (dollars in millions) | |||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||
Balance | % of Total (1) | Balance | % of Total (1) | ||||||||||||
Advances | $ | 2,531 | 3.7 | % | $ | 1,611 | 2.5 | % | |||||||
MPP | 136 | 2.1 | 57 | 0.9 | |||||||||||
Mortgage-backed securities | — | — | — | — | |||||||||||
Regulatory capital stock | 208 | 4.8 | 246 | 5.1 | |||||||||||
Derivatives | — | — | — | — | |||||||||||
-1 | Percentage of total principal (Advances), unpaid principal balance (MPP), principal balance (mortgage-backed securities), regulatory capital stock, and notional balances (derivatives). |
Background_Information_Details
Background Information (Details) | Jun. 30, 2014 |
Banks | |
Background Information [Abstract] | ' |
Number of Federal Home Loan Banks | 12 |
Trading_Securities_Trading_Sec
Trading Securities (Trading Securities by Major Type) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ||
Trading securities | $1,469 | $1,578 | ||
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ' | ' | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ||
Trading securities | $1,469 | [1] | $1,578 | [1] |
[1] | Consists of Government National Mortgage Association (Ginnie Mae) mortgage-backed securities. |
Trading_Securities_Net_Losses_
Trading Securities (Net (Losses) Gains on Trading Securities) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Trading Securities [Abstract] | ' | ' | ' | ' |
Net gains (losses) on trading securities held at period end | ' | ' | ($4) | ($4) |
Net gains (losses) on trading securities | ($2) | ($5) | ($4) | ($4) |
AvailableforSale_Securities_De
Available-for-Sale Securities (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | $2,005,000 | $2,185,000 |
Available For Sale Debt Securities Gross Unrealized Gain Accumulated In Investments | 18 | 1 |
Available-for-sale Securities, Gross Unrealized Losses | -37 | -122 |
Available-for-sale Securities, Debt Securities | 2,004,981 | 2,184,879 |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Amortized Cost Basis | 2,005,000 | 2,185,000 |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value | 2,004,981 | 2,184,879 |
Fixed-rate [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 2,005,000 | 2,185,000 |
Certificates of Deposit [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 2,005,000 | 2,185,000 |
Available For Sale Debt Securities Gross Unrealized Gain Accumulated In Investments | 18 | 1 |
Available-for-sale Securities, Gross Unrealized Losses | -37 | -122 |
Available-for-sale Securities, Debt Securities | $2,004,981 | $2,184,879 |
HeldtoMaturity_Securities_Majo
Held-to-Maturity Securities (Major Security Types) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $15,672,940 | [1] | $16,087,162 | [1] |
Held-to-maturity Securities | 15,672,940 | [2] | 16,087,162 | [2] |
Held-to-maturity Securities, Unrecognized Holding Gain | 197,494 | 146,508 | ||
Held-to-maturity Securities, Unrecognized Holding Loss | -227,611 | -425,273 | ||
Held-to-maturity Securities, Fair Value | 15,642,823 | 15,808,397 | ||
US Treasury Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 26,049 | [1] | ' | |
Held-to-maturity Securities | 26,049 | 0 | ||
Held-to-maturity Securities, Unrecognized Holding Gain | 1 | ' | ||
Held-to-maturity Securities, Unrecognized Holding Loss | 0 | ' | ||
Held-to-maturity Securities, Fair Value | 26,050 | ' | ||
US Government-sponsored Enterprises Debt Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | ' | 27,485 | [1],[3] | |
Held-to-maturity Securities | 0 | [3] | 27,485 | [3] |
Held-to-maturity Securities, Unrecognized Holding Gain | ' | 1 | [3] | |
Held-to-maturity Securities, Unrecognized Holding Loss | ' | 0 | [3] | |
Held-to-maturity Securities, Fair Value | ' | 27,486 | [3] | |
Held To Maturity Securities Other Than Mortgage Backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 26,049 | [1] | 27,485 | [1] |
Held-to-maturity Securities | 26,049 | 27,485 | ||
Held-to-maturity Securities, Unrecognized Holding Gain | 1 | 1 | ||
Held-to-maturity Securities, Unrecognized Holding Loss | 0 | 0 | ||
Held-to-maturity Securities, Fair Value | 26,050 | 27,486 | ||
Mortgage Backed Securities Other US Obligations [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 2,184,883 | [1],[4] | 1,909,099 | [1],[4] |
Held-to-maturity Securities | 2,184,883 | [4] | 1,909,099 | [4] |
Held-to-maturity Securities, Unrecognized Holding Gain | 4,558 | [4] | 4,545 | [4] |
Held-to-maturity Securities, Unrecognized Holding Loss | -11,958 | [4],[5] | -26,396 | [4],[5] |
Held-to-maturity Securities, Fair Value | 2,177,483 | [4] | 1,887,248 | [4] |
Collateralized Mortgage Backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 15,646,891 | [1],[6] | 16,059,677 | [1],[6] |
Held-to-maturity Securities | 15,646,891 | [6] | 16,059,677 | [6] |
Held-to-maturity Securities, Unrecognized Holding Gain | 197,493 | 146,507 | ||
Held-to-maturity Securities, Unrecognized Holding Loss | -227,611 | -425,273 | ||
Held-to-maturity Securities, Fair Value | 15,616,773 | [6] | 15,780,911 | [6] |
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 13,462,008 | [1],[7] | 14,150,578 | [1],[7] |
Held-to-maturity Securities | 13,462,008 | [7] | 14,150,578 | [7] |
Held-to-maturity Securities, Unrecognized Holding Gain | 192,935 | [7] | 141,962 | [7] |
Held-to-maturity Securities, Unrecognized Holding Loss | -215,653 | [7] | -398,877 | [7] |
Held-to-maturity Securities, Fair Value | $13,439,290 | [7] | $13,893,663 | [7] |
[1] | Carrying value equals amortized cost. | |||
[2] | Fair values: $15,642,823 and $15,808,397 at June 30, 2014 and December 31, 2013, respectively. | |||
[3] | Consists of debt securities issued and effectively guaranteed by Freddie Mac and/or Fannie Mae, which have the support of the U.S. government, although they are not obligations of the U.S. government. | |||
[4] | Consists of Ginnie Mae mortgage-backed securities and/or mortgage-backed securities issued or guaranteed by the National Credit Union Administration (NCUA) and the U.S. government. | |||
[5] | Consists of Ginnie Mae mortgage-backed securities. | |||
[6] | Mortgage-backed securities are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. | |||
[7] | Consists of mortgage-backed securities issued and effectively guaranteed by Freddie Mac and/or Fannie Mae, which have the support of the U.S. government, although they are not obligations of the U.S. government. |
HeldtoMaturity_Securities_Net_
Held-to-Maturity Securities (Net Premuims) (Details) (Collateralized Mortgage Backed Securities [Member], USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Held To Maturity Securities, Premiums | $26,697 | $32,458 |
Held-to-maturity Securities, Discounts | -57,014 | -58,658 |
Held-to-maturity Securities, Premiums (Discounts), Net | ($30,317) | ($26,200) |
HeldtoMaturity_Securities_Cont
Held-to-Maturity Securities (Continuous Unrealized Loss Position) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $1,933,954 | $9,480,410 | ||
Held To Maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | -32,626 | -423,648 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 5,549,321 | 48,902 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -194,985 | -1,625 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 7,483,275 | 9,529,312 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | -227,611 | -425,273 | ||
Mortgage Backed Securities Other US Obligations [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 871,376 | [1] | 663,278 | [1] |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | -11,958 | [1] | -26,396 | [1] |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | [1] | 0 | [1] |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | [1] | 0 | [1] |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 871,376 | [1] | 663,278 | [1] |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | -11,958 | [1],[2] | -26,396 | [1],[2] |
Residential Mortgage Backed Securities [Member] | Residential Mortgage Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,062,578 | [3] | 8,817,132 | [3] |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | -20,668 | [3] | -397,252 | [3] |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 5,549,321 | [3] | 48,902 | [3] |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | -194,985 | [3] | -1,625 | [3] |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 6,611,899 | [3] | 8,866,034 | [3] |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | ($215,653) | [3] | ($398,877) | [3] |
[1] | Consists of Ginnie Mae mortgage-backed securities. | |||
[2] | Consists of Ginnie Mae mortgage-backed securities and/or mortgage-backed securities issued or guaranteed by the National Credit Union Administration (NCUA) and the U.S. government. | |||
[3] | Consists of mortgage-backed securities issued and effectively guaranteed by Freddie Mac and/or Fannie Mae, which have the support of the U.S. government, although they are not obligations of the U.S. government. |
HeldtoMaturity_Securities_Cont1
Held-to-Maturity Securities (Contractual Maturity) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities | $15,672,940 | [1] | $16,087,162 | [1] |
Held-to-maturity Securities, Fair Value | 15,642,823 | 15,808,397 | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 15,672,940 | [2] | 16,087,162 | [2] |
Held-to-maturity Securities, Fair Value | 15,642,823 | 15,808,397 | ||
Held To Maturity Securities Other Than Mortgage Backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Debt Maturities, within One Year Amortized Cost | 26,049 | [2] | 27,485 | [2] |
Held-to-maturity Securities, Debt Maturities, within One Year, Net Carrying Amount | 26,049 | 27,485 | ||
Held-to-maturity Securities, Debt Maturities, within One Year, Fair Value | 26,050 | 27,486 | ||
Held-to-maturity Securities, Debt Maturities, After One Through Five Years Amortized Cost | 0 | [2] | 0 | [2] |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | 0 | 0 | ||
Held-to-maturity Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value | 0 | 0 | ||
Held-to-maturity Securities, Debt Maturities, After Five Through Ten Years Amortized Cost | 0 | [2] | 0 | [2] |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 0 | 0 | ||
Held-to-maturity Securities, Debt Maturities, Rolling Year Six Through Ten, Fair Value | 0 | 0 | ||
Held-to-maturity Securities, Debt Maturities, After Ten Years Amortized Cost | 0 | [2] | 0 | [2] |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Net Carrying Amount | 0 | 0 | ||
Held-to-maturity Securities, Debt Maturities, Rolling after Ten Years, Fair Value | 0 | 0 | ||
Held-to-maturity Securities, Debt Maturities, Amortized Cost | 26,049 | [2] | 27,485 | [2] |
Held-to-maturity Securities | 26,049 | 27,485 | ||
Held-to-maturity Securities, Fair Value | 26,050 | 27,486 | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 26,049 | [2] | 27,485 | [2] |
Held-to-maturity Securities, Fair Value | 26,050 | 27,486 | ||
Collateralized Mortgage Backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities | 15,646,891 | [3] | 16,059,677 | [3] |
Held-to-maturity Securities, Fair Value | 15,616,773 | [3] | 15,780,911 | [3] |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 15,646,891 | [2],[3] | 16,059,677 | [2],[3] |
Held-to-maturity Securities, Fair Value | $15,616,773 | [3] | $15,780,911 | [3] |
[1] | Fair values: $15,642,823 and $15,808,397 at June 30, 2014 and December 31, 2013, respectively. | |||
[2] | Carrying value equals amortized cost. | |||
[3] | Mortgage-backed securities are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. |
HeldtoMaturity_Securities_Inte
Held-to-Maturity Securities (Interest Rate Payment Terms) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $15,672,940 | [1] | $16,087,162 | [1] |
Held To Maturity Securities Other Than Mortgage Backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 26,049 | [1] | 27,485 | [1] |
Collateralized Mortgage Backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 15,646,891 | [1],[2] | 16,059,677 | [1],[2] |
Fixed-rate [Member] | Held To Maturity Securities Other Than Mortgage Backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 26,049 | 27,485 | ||
Fixed-rate [Member] | Collateralized Mortgage Backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 12,831,121 | 13,048,808 | ||
Variable-rate [Member] | Collateralized Mortgage Backed Securities [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $2,815,770 | $3,010,869 | ||
[1] | Carrying value equals amortized cost. | |||
[2] | Mortgage-backed securities are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. |
Advances_Narrative_Details
Advances (Narrative) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Advances [Line Items] | ' | ' |
Federal Home Loan Bank, Advances, Interest Rate on Affordable Housing Program Subsidized Loans | 0.00% | ' |
Callable Federal Home Loan Bank Advances | $11,921,489 | $10,072,203 |
Putable Federal Home Loan Bank Advances | $2,090,900 | $2,146,400 |
Minimum [Member] | ' | ' |
Advances [Line Items] | ' | ' |
Federal Home Loan Bank Advances, Interest Rate | 0.00% | 0.00% |
Maximum [Member] | ' | ' |
Advances [Line Items] | ' | ' |
Federal Home Loan Bank Advances, Interest Rate | 9.20% | 9.20% |
Advances_Advance_Redemption_Te
Advances (Advance Redemption Terms) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Advances [Abstract] | ' | ' |
Deposit Liabilities Reclassified as Loans Receivable | $175 | $150 |
Due in 1 year or less | 23,131,369 | 17,729,350 |
Due after 1 year through 2 years | 9,245,861 | 6,614,470 |
Due after 2 years through 3 years | 9,738,077 | 9,485,558 |
Due after 3 years through 4 years | 10,593,228 | 9,444,110 |
Due after 4 years through 5 years | 10,738,666 | 11,831,887 |
Thereafter | 5,888,419 | 9,987,245 |
Federal Home Loan Bank Advances At Par Value | 69,335,795 | 65,092,770 |
Commitment Fees on Advances | -722 | -750 |
Discount on Affordable Housing Program Advances | -13,549 | -14,953 |
Federal Home Loan Bank Advances, Premium | 3,228 | 3,413 |
Federal Home Loan Bank Advances, Discount | -11,893 | -14,104 |
Hedging adjustments | 172,554 | 204,014 |
Advances | $69,485,413 | $65,270,390 |
Federal Home Loan Bank Advances, Weighted Average Interest Rate Of Amounts Overdrawn Demand Deposit | 0.21% | 0.20% |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing Within One Year of Balance Sheet Date | 0.36% | 0.42% |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing From One To Two Years of Balance Sheet Date | 0.48% | 0.63% |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing From Two To Three Years of Balance Sheet Date | 0.82% | 0.64% |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing From Three To Four Years of Balance Sheet Date | 0.72% | 0.81% |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing From Four To Five Years of Balance Sheet Date | 0.58% | 0.61% |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing After Five Years of Balance Sheet Date | 1.02% | 0.78% |
Federal Home Loan Bank Advances, Weighted Average Interest Rate As Of Balance Sheet Date | 0.58% | 0.62% |
Advances_Year_of_Contractual_M
Advances (Year of Contractual Maturity or Next Call Date) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Advances [Abstract] | ' | ' |
Deposit Liabilities Reclassified as Loans Receivable | $175 | $150 |
Federal Home Loan Bank Advances, Earlier of Contractual Maturity or Next Call Date, Due With in Next Rolling Twelve Months | 29,725,047 | 25,109,451 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due in Rolling Year Two | 7,571,181 | 5,300,184 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due in Rolling Year Three | 6,897,422 | 7,149,237 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due in Rolling Year Four | 9,769,904 | 7,050,325 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due in Rolling Year Five | 9,845,547 | 10,877,078 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due After Rolling Year Five | 5,526,519 | 9,606,345 |
Federal Home Loan Bank Advances At Par Value | $69,335,795 | $65,092,770 |
Advances_Advances_by_Year_of_C
Advances (Advances by Year of Contractual Maturity or Next Put/Convert Date for Putable/Convertible Advances) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Advances [Abstract] | ' | ' |
Deposit Liabilities Reclassified as Loans Receivable | $175 | $150 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due within One Year of Balance Sheet Date | 24,882,269 | 19,681,750 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due From One To Two Years of Balance Sheet Date | 9,226,861 | 6,424,970 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due From Two To Three Years of Balance Sheet Date | 9,224,777 | 9,338,558 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due From Three To Four Years of Balance Sheet Date | 9,720,128 | 8,582,710 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due From Four To Five Years of Balance Sheet Date | 10,563,166 | 11,256,887 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due After Five Years of Balance Sheet Date | 5,718,419 | 9,807,745 |
Federal Home Loan Bank Advances At Par Value | $69,335,795 | $65,092,770 |
Advances_Advances_by_Interest_
Advances (Advances by Interest Rate Payment Terms) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Advances [Abstract] | ' | ' | ||
Federal Home Loan Bank Advances, Maturities by Interest Rate Type, Fixed Rate | $19,871,531 | [1] | $15,480,817 | [1] |
Federal Home Loan Bank Advances, Maturities by Interest Rate Type, Floating Rate | 49,464,264 | [1] | 49,611,953 | [1] |
Federal Home Loan Bank Advances At Par Value | $69,335,795 | $65,092,770 | ||
[1] | Payment terms based on current interest rate terms, which reflect any option exercises or rate conversions that have occurred subsequent to the related Advance issuance. |
Advances_Borrowers_Holding_Fiv
Advances (Borrowers Holding Five Percent or more of Total Advances) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Advances [Line Items] | ' | ' |
Advances | $69,485,413 | $65,270,390 |
Advances [Member] | ' | ' |
Advances [Line Items] | ' | ' |
Advances | 45,167,000 | 46,284,000 |
Concentration Risk, Percentage, Five Percent or More Of Principal Balance | 65.00% | 71.00% |
JPMorgan Chase Bank National Association [Member] | Advances [Member] | ' | ' |
Advances [Line Items] | ' | ' |
Advances | 39,700,000 | 41,700,000 |
Concentration Risk, Percentage, Five Percent or More Of Principal Balance | 57.00% | 64.00% |
U.S. Bank, N.A. [Member] | Advances [Member] | ' | ' |
Advances [Line Items] | ' | ' |
Advances | $5,467,000 | $4,584,000 |
Concentration Risk, Percentage, Five Percent or More Of Principal Balance | 8.00% | 7.00% |
Mortgage_Loans_Held_for_Portfo2
Mortgage Loans Held for Portfolio (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Mortgage Loans on Real Estate [Line Items] | ' | ' | ||
Unpaid principal balance | $6,523,864 | $6,643,199 | ||
Loans and Leases Receivable, Unamortized Premiums | 171,573 | 177,180 | ||
Loans and Leases Receivable, Unamortized Discounts | -3,022 | -3,631 | ||
Loans and Leases Receivable, Hedging Basis Adjustment | 9,284 | [1] | 8,775 | [1] |
Loans and Leases Receivable, Gross, Consumer, Mortgage | 6,701,699 | 6,825,523 | ||
Fixed rates medium-term single-family mortgages [Member] | ' | ' | ||
Mortgage Loans on Real Estate [Line Items] | ' | ' | ||
Unpaid principal balance | 1,393,005 | [2] | 1,482,345 | [2] |
Fixed rates Long-term single-family mortgages [Member] | ' | ' | ||
Mortgage Loans on Real Estate [Line Items] | ' | ' | ||
Unpaid principal balance | 5,130,859 | 5,160,854 | ||
Conventional Loan [Member] | ' | ' | ||
Mortgage Loans on Real Estate [Line Items] | ' | ' | ||
Unpaid principal balance | 5,854,414 | 5,897,804 | ||
Federal Housing Administration Loan [Member] | ' | ' | ||
Mortgage Loans on Real Estate [Line Items] | ' | ' | ||
Unpaid principal balance | $669,450 | $745,395 | ||
[1] | Represents the unamortized balance of the mortgage purchase commitments' market values at the time of settlement. The market value of the commitment is included in the basis of the mortgage loan and amortized accordingly. | |||
[2] | Medium-term is defined as a term of 15 years or less. |
Mortgage_Loans_Held_for_Portfo3
Mortgage Loans Held for Portfolio (Details 2) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Participating Mortgage Loans [Line Items] | ' | ' | ||
Unpaid Principal Balances Greater Than Five Percent of Total | $2,951 | $2,789 | ||
Percent of Total | 46.00% | 42.00% | ||
Union Savings Bank [Member] | ' | ' | ||
Participating Mortgage Loans [Line Items] | ' | ' | ||
Unpaid Principal Balances Greater Than Five Percent of Total | 1,408 | 1,433 | ||
Percent of Total | 22.00% | 22.00% | ||
PNC Bank, N.A. [Member] | ' | ' | ||
Participating Mortgage Loans [Line Items] | ' | ' | ||
Unpaid Principal Balances Greater Than Five Percent of Total | 1,215 | [1] | 1,356 | [1] |
Percent of Total | 19.00% | [1] | 20.00% | [1] |
The Huntington National Bank [Member] | ' | ' | ||
Participating Mortgage Loans [Line Items] | ' | ' | ||
Unpaid Principal Balances Greater Than Five Percent of Total | $328 | ' | ||
Percent of Total | 5.00% | ' | ||
[1] | Former member. |
Allowance_for_Credit_Losses_De
Allowance for Credit Losses (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Total recorded investment | $6,725,701 | ' | $6,725,701 | ' | $6,850,044 |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' |
Balance, beginning of period | 6,655 | 14,832 | 7,233 | 17,907 | ' |
Charge-offs | -314 | -1,656 | -892 | -2,231 | ' |
Reversal for credit losses | -900 | -4,000 | -900 | -6,500 | ' |
Balance, end of period | 5,441 | 9,176 | 5,441 | 9,176 | ' |
Conventional Loan [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Credit Losses, Collectively Evaluated for Impairment | 5,315 | ' | 5,315 | ' | 7,159 |
Allowance for Credit Losses, Individually Evaluated for Impairment | 126 | ' | 126 | ' | 74 |
Recorded Investment, Collectively Evaluated for Impairment | 6,035,908 | ' | 6,035,908 | ' | 6,082,636 |
Recorded Investment, Individually Evaluated for Impairment | 8,055 | ' | 8,055 | ' | 7,799 |
Total recorded investment | $6,043,963 | ' | $6,043,963 | ' | $6,090,435 |
Allowance_for_Credit_Losses_Ro
Allowance for Credit Losses Rollforward of LRA (Details) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Change in Lender Risk Account Balance [Roll Forward] | ' |
Lender Risk Account, Beginning Balance | $115,236 |
Lender Risk Account, Additions | 5,777 |
Lender Risk Account, Claims | -1,185 |
Lender Risk Account, Distributions | -1,745 |
Lender Risk Account, Ending Balance | $118,083 |
Allowance_for_Credit_Losses_Sc
Allowance for Credit Losses Schedule of Loans Outstanding and Past Due (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | $76,232 | $101,924 | ||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 22,644 | 30,934 | ||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 76,809 | 90,876 | ||
Financing Receivable, Recorded Investment, Past Due | 175,685 | 223,734 | ||
Financing Receivable, Recorded Investment, Current | 6,550,016 | 6,626,310 | ||
Total recorded investment | 6,725,701 | 6,850,044 | ||
Mortgage Loans In Process Of Foreclosure | 57,422 | [1] | 64,880 | [1] |
Loans and Leases Receivable, Serious Delinquencies Ratio | 1.17% | [2] | 1.34% | [2] |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 76,128 | [3] | 90,485 | [3] |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,778 | 3,077 | ||
Financing Receivable, Modifications, Recorded Investment | 8,055 | 7,799 | ||
Conventional Loan [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 36,995 | 48,619 | ||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 10,427 | 11,971 | ||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 48,550 | 57,934 | ||
Financing Receivable, Recorded Investment, Past Due | 95,972 | 118,524 | ||
Financing Receivable, Recorded Investment, Current | 5,947,991 | 5,971,911 | ||
Total recorded investment | 6,043,963 | 6,090,435 | ||
Mortgage Loans In Process Of Foreclosure | 40,528 | [1] | 46,285 | [1] |
Loans and Leases Receivable, Serious Delinquencies Ratio | 0.82% | [2] | 0.96% | [2] |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 47,869 | [3] | 57,543 | [3] |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,778 | 3,077 | ||
Federal Housing Administration Loan [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 39,237 | 53,305 | ||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 12,217 | 18,963 | ||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 28,259 | 32,942 | ||
Financing Receivable, Recorded Investment, Past Due | 79,713 | 105,210 | ||
Financing Receivable, Recorded Investment, Current | 602,025 | 654,399 | ||
Total recorded investment | 681,738 | 759,609 | ||
Mortgage Loans In Process Of Foreclosure | 16,894 | [1] | 18,595 | [1] |
Loans and Leases Receivable, Serious Delinquencies Ratio | 4.19% | [2] | 4.41% | [2] |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 28,259 | [3] | 32,942 | [3] |
Financing Receivable, Recorded Investment, Nonaccrual Status | $0 | $0 | ||
[1] | Includes loans where the decision of foreclosure or a 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 (including past due or current loans in the process of foreclosure) expressed as a percentage of the total loan portfolio class recorded investment amount. | |||
[3] | Each conventional loan past due 90 days or more still accruing interest is on a schedule/scheduled monthly settlement basis and contains one or more credit enhancements. Loans that are well secured and in the process of collection as a result of remaining credit enhancements and schedule/scheduled settlement are not placed on non-accrual status. |
Allowance_for_Credit_Losses_Tr
Allowance for Credit Losses Troubled Debt Restructuring (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | loans | loans | |
Allowance for Credit Losses [Abstract] | ' | ' | ' |
Financing Receivable Modifications Number Of Contracts Outstanding | 46 | 42 | ' |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment During Quarter | $554 | ' | $0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment During Year | $554 | ' | $0 |
Allowance_for_Credit_Losses_In
Allowance for Credit Losses Individually Evaluated Impaired Loans (Details) (Residential, Prime, Financing Receivable [Member], USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Residential, Prime, Financing Receivable [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | $5,277 | ' | $5,277 | ' | $4,959 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 5,159 | ' | 5,159 | ' | 4,828 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,778 | ' | 2,778 | ' | 2,840 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 2,744 | ' | 2,744 | ' | 2,801 |
Impaired Financing Receivable, Related Allowance | 126 | ' | 126 | ' | 74 |
Impaired Financing Receivable, Recorded Investment | 8,055 | ' | 8,055 | ' | 7,799 |
Impaired Financing Receivable, Unpaid Principal Balance | 7,903 | ' | 7,903 | ' | 7,629 |
Impaired Financing Receivable, Average Recorded Investment | 7,969 | 6,709 | 7,839 | 6,281 | ' |
Impaired Financing Receivable, Interest Income, Accrual Method | $104 | $90 | $204 | $168 | ' |
Derivatives_and_Hedging_Activi2
Derivatives and Hedging Activities Narrative (Details) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' |
Derivative, Net Liability Position, Aggregate Fair Value | $162,035 |
Collateral Already Posted, Aggregate Fair Value | 92,745 |
Additional Collateral, Aggregate Fair Value | $13,157 |
Derivatives_and_Hedging_Activi3
Derivatives and Hedging Activities Derivatives in Statement of Condition (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Notional Amount of Derivatives | $7,645,814 | $8,727,960 | ||
Derivative Asset, Fair Value, Gross Asset | 32,123 | 39,445 | ||
Derivative Liability, Fair Value, Gross Liability | 193,391 | 223,835 | ||
Derivative Asset, Fair Value, Gross Liability | 28,323 | 36,204 | ||
Derivative Liability, Fair Value, Gross Asset | 28,323 | 36,204 | ||
Derivative Asset, Collateral, Right to Reclaim Cash, Offset | 1,589 | ' | ||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | ' | 0 | ||
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 92,745 | 89,865 | ||
Derivative assets | 5,389 | 3,241 | ||
Derivative liabilities | 72,323 | 97,766 | ||
Netting and Collateral [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Amount Offset Against Collateral | -26,734 | [1] | -36,204 | [1] |
Derivative Liability, Fair Value, Amount Offset Against Collateral | -121,068 | [1] | -126,069 | [1] |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Notional Amount of Derivatives | 3,987,415 | 4,517,340 | ||
Derivative Asset, Fair Value, Gross Asset | 27,066 | 36,061 | ||
Derivative Liability, Fair Value, Gross Liability | 183,504 | 215,691 | ||
Not Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Notional Amount of Derivatives | 3,658,399 | 4,210,620 | ||
Derivative Asset, Fair Value, Gross Asset | 5,057 | 3,384 | ||
Derivative Liability, Fair Value, Gross Liability | 9,887 | 8,144 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Notional Amount of Derivatives | 2,908,000 | 4,143,000 | ||
Derivative Asset, Fair Value, Gross Asset | 1,224 | 2,928 | ||
Derivative Liability, Fair Value, Gross Liability | 6,854 | 7,732 | ||
Not Designated as Hedging Instrument [Member] | Forward Rate Agreements [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Notional Amount of Derivatives | 321,000 | 31,000 | ||
Derivative Asset, Fair Value, Gross Asset | 20 | 454 | ||
Derivative Liability, Fair Value, Gross Liability | 2,986 | 0 | ||
Not Designated as Hedging Instrument [Member] | Mortgage Delivery Commitments [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Notional Amount of Derivatives | 429,399 | 36,620 | ||
Derivative Asset, Fair Value, Gross Asset | 3,813 | 2 | ||
Derivative Liability, Fair Value, Gross Liability | $47 | $412 | ||
[1] | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLBank with the same counterparty. |
Derivatives_and_Hedging_Activi4
Derivatives and Hedging Activities Derivatives in Statement of Income (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivatives not designated as hedging instruments | $2,463 | ($3,472) | $1,096 | ($2,049) |
Net gains (losses) on derivatives and hedging activities | 3,332 | -1,457 | 2,249 | 2,888 |
Interest Rate Swap [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivatives and hedged items in fair value hedging relationships | 869 | 2,015 | 1,153 | 4,937 |
Derivatives not designated as hedging instruments | 851 | 1,815 | 1,008 | 6,046 |
Forward Rate Agreements [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivatives not designated as hedging instruments | -5,585 | 0 | -6,081 | 0 |
Net Interest Settlements [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivatives not designated as hedging instruments | -319 | -243 | -70 | 170 |
Mortgage Delivery Commitments [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivatives not designated as hedging instruments | $7,516 | ($5,044) | $6,239 | ($8,265) |
Derivatives_and_Hedging_Activi5
Derivatives and Hedging Activities Derivatives in Statement of Income and Impact on Interest (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) on Derivative | $8,333 | $58,952 | $22,940 | $90,725 | ||||
Gain (Loss) on Hedged Item | -7,464 | -56,937 | -21,787 | -85,788 | ||||
Net Fair Value Hedge Ineffectiveness | 869 | 2,015 | 1,153 | 4,937 | ||||
Effect of Derivatives on Net Interest Income | -19,273 | [1] | -20,814 | [1] | -38,789 | [1] | -41,078 | [1] |
Advances [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) on Derivative | 11,611 | 68,359 | 30,327 | 108,779 | ||||
Gain (Loss) on Hedged Item | -11,108 | -66,374 | -29,572 | -104,157 | ||||
Net Fair Value Hedge Ineffectiveness | 503 | 1,985 | 755 | 4,622 | ||||
Effect of Derivatives on Net Interest Income | -23,902 | [1] | -28,336 | [1] | -48,270 | [1] | -57,088 | [1] |
Consolidated Obligation Bonds [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) on Derivative | -3,278 | -9,407 | -7,387 | -18,054 | ||||
Gain (Loss) on Hedged Item | 3,644 | 9,437 | 7,785 | 18,369 | ||||
Net Fair Value Hedge Ineffectiveness | 366 | 30 | 398 | 315 | ||||
Effect of Derivatives on Net Interest Income | $4,629 | [1] | $7,522 | [1] | $9,481 | [1] | $16,010 | [1] |
[1] | The net interest on derivatives in fair value hedge relationships is included in the interest income/expense line item of the respective hedged item. |
Derivatives_and_Hedging_Activi6
Derivatives and Hedging Activities Offsetting of Derivative Assets and Derivative Liabilities (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Offsetting Assets [Line Items] | ' | ' | ||
Derivative Asset, Subject to Master Netting Arrangement | $28,290 | $38,989 | ||
Derivative Liability, Subject to Master Netting Arrangement | 190,358 | 223,423 | ||
Derivative Asset, Amount Of Collateral and Netting | -26,734 | -36,204 | ||
Derivative Liability, Amount Of Collateral and Netting | -121,068 | -126,069 | ||
Derivative Asset, Net Fair Value Amount, After Offsetting Adjustment | 1,556 | 2,785 | ||
Derivative Liability, Net Fair Value Amount, After Offsetting Adjustment | 69,290 | 97,354 | ||
Derivative Asset, Not Subject to Master Netting Arrangement | 3,833 | [1] | 456 | [1] |
Derivative Liability, Not Subject to Master Netting Arrangement | 3,033 | [1] | 412 | [1] |
Derivative assets | 5,389 | 3,241 | ||
Derivative liabilities | 72,323 | 97,766 | ||
Over the Counter [Member] | ' | ' | ||
Offsetting Assets [Line Items] | ' | ' | ||
Derivative Asset, Subject to Master Netting Arrangement | 28,064 | ' | ||
Derivative Liability, Subject to Master Netting Arrangement | 189,860 | ' | ||
Derivative Asset, Amount Of Collateral and Netting | -27,826 | ' | ||
Derivative Liability, Amount Of Collateral and Netting | -120,570 | ' | ||
Derivative Asset, Net Fair Value Amount, After Offsetting Adjustment | 238 | ' | ||
Derivative Liability, Net Fair Value Amount, After Offsetting Adjustment | 69,290 | ' | ||
Derivative Asset, Not Subject to Master Netting Arrangement | 3,833 | [1] | ' | |
Derivative Liability, Not Subject to Master Netting Arrangement | 3,033 | [1] | ' | |
Derivative assets | 4,071 | ' | ||
Derivative liabilities | 72,323 | ' | ||
Exchange Cleared [Member] | ' | ' | ||
Offsetting Assets [Line Items] | ' | ' | ||
Derivative Asset, Subject to Master Netting Arrangement | 226 | ' | ||
Derivative Liability, Subject to Master Netting Arrangement | 498 | ' | ||
Derivative Asset, Amount Of Collateral and Netting | 1,092 | ' | ||
Derivative Liability, Amount Of Collateral and Netting | -498 | ' | ||
Derivative Asset, Net Fair Value Amount, After Offsetting Adjustment | 1,318 | ' | ||
Derivative Liability, Net Fair Value Amount, After Offsetting Adjustment | 0 | ' | ||
Derivative assets | 1,318 | ' | ||
Derivative liabilities | $0 | ' | ||
[1] | Represents mortgage delivery commitments and forward rate agreements that are not subject to an enforceable netting agreement. |
Deposits_Deposits_Details
Deposits Deposits (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Deposits [Abstract] | ' | ' | ' | ' | ' |
Weighted Average Rate Interest Bearing Deposits | 0.03% | 0.03% | 0.03% | 0.03% | ' |
Interest bearing, demand and overnight | $711,524 | ' | $711,524 | ' | $796,039 |
Interest bearing, term | 86,050 | ' | 86,050 | ' | 96,100 |
Interest bearing, other | 5,954 | ' | 5,954 | ' | 5,872 |
Total interest-bearing | 803,528 | ' | 803,528 | ' | 898,011 |
Non-interest bearing, other | 250 | ' | 250 | ' | 15,884 |
Total non-interest bearing | 250 | ' | 250 | ' | 15,884 |
Total deposits | 803,778 | ' | 803,778 | ' | 913,895 |
Time Deposits, $100,000 or More | $86,000 | ' | $86,000 | ' | $96,000 |
Consolidated_Obligations_Detai
Consolidated Obligations (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |||
Schedule of Short-term and Long-term Debt [Line Items] | ' | ' | ' | ' | ' | |||
Consolidated Obligations Bonds Total | $59,653,311 | ' | $59,653,311 | ' | $58,162,739 | |||
Discount Notes | 35,389,600 | ' | 35,389,600 | ' | 38,209,946 | |||
Unamortized Concessions Included in Other Assets | 15,431 | ' | 15,431 | ' | 15,947 | |||
Amortization of Concessions Included in Consolidated Obligations Interest Expense During Period | 2,015 | 1,894 | 3,804 | 3,627 | ' | |||
Consolidated Obligation Bonds [Member] | ' | ' | ' | ' | ' | |||
Schedule of Short-term and Long-term Debt [Line Items] | ' | ' | ' | ' | ' | |||
Debt, Maturities, Repayments of Principal in Twelve Months | 25,741,500 | ' | 25,741,500 | ' | 35,691,500 | |||
Debt, Maturities, Repayments of Principal in Next Twelve Months, Weighted Average Interest Rate | 0.36% | ' | 0.36% | ' | 0.34% | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Two | 13,674,000 | ' | 13,674,000 | ' | 2,802,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Two, Weighted Average Interest Rate | 0.46% | ' | 0.46% | ' | 1.66% | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Three | 3,518,000 | ' | 3,518,000 | ' | 3,295,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Three, Weighted Average Interest Rate | 1.90% | ' | 1.90% | ' | 2.12% | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Four | 4,392,000 | ' | 4,392,000 | ' | 3,689,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Four, Weighted Average Interest Rate | 1.56% | ' | 1.56% | ' | 1.67% | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Five | 3,000,000 | ' | 3,000,000 | ' | 3,415,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Five, Weighted Average Interest Rate | 1.95% | ' | 1.95% | ' | 1.86% | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling after Year Five | 9,187,000 | ' | 9,187,000 | ' | 9,102,000 | |||
Long-term Debt, Maturities, Repayments of Principal After Year Five, Weighted Average Interest Rate | 2.68% | ' | 2.68% | ' | 2.66% | |||
Index amortizing notes | 28,702 | ' | 28,702 | ' | 32,746 | |||
Index amortizing notes, Weighted average interest rate | 5.07% | ' | 5.07% | ' | 5.07% | |||
Debt, Gross | 59,541,202 | ' | 59,541,202 | ' | 58,027,246 | |||
Long-term Debt, Weighted Average Interest Rate | 1.00% | ' | 1.00% | ' | 1.04% | |||
Debt Instrument, Unamortized Premium | 113,714 | ' | 113,714 | ' | 123,820 | |||
Debt Instrument, Unamortized Discount | -24,926 | ' | -24,926 | ' | -22,781 | |||
Debt Valuation Adjustment for Hedging Activities | 23,298 | ' | 23,298 | ' | 31,084 | |||
Fair value option valuation adjustment and accrued interest | 23 | ' | 23 | ' | 3,370 | |||
Consolidated Obligations Bonds Total | 59,653,311 | ' | 59,653,311 | ' | 58,162,739 | |||
Non Callable [Member] | Consolidated Obligation Bonds [Member] | ' | ' | ' | ' | ' | |||
Schedule of Short-term and Long-term Debt [Line Items] | ' | ' | ' | ' | ' | |||
Debt, Gross | 49,669,202 | ' | 49,669,202 | ' | 46,670,246 | |||
Callable [Member] | Consolidated Obligation Bonds [Member] | ' | ' | ' | ' | ' | |||
Schedule of Short-term and Long-term Debt [Line Items] | ' | ' | ' | ' | ' | |||
Debt, Gross | 9,872,000 | ' | 9,872,000 | ' | 11,357,000 | |||
Earlier of Contractual Maturity or Next Call Date [Member] | Consolidated Obligation Bonds [Member] | ' | ' | ' | ' | ' | |||
Schedule of Short-term and Long-term Debt [Line Items] | ' | ' | ' | ' | ' | |||
Debt, Maturities, Repayments of Principal in Twelve Months | 32,013,500 | ' | 32,013,500 | ' | 41,493,500 | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Two | 14,284,000 | ' | 14,284,000 | ' | 3,827,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Three | 2,968,000 | ' | 2,968,000 | ' | 2,915,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Four | 2,840,000 | ' | 2,840,000 | ' | 2,427,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Five | 2,035,000 | ' | 2,035,000 | ' | 2,095,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling after Year Five | 5,372,000 | ' | 5,372,000 | ' | 5,237,000 | |||
Index amortizing notes | 28,702 | ' | 28,702 | ' | 32,746 | |||
Discount Notes [Member] | ' | ' | ' | ' | ' | |||
Schedule of Short-term and Long-term Debt [Line Items] | ' | ' | ' | ' | ' | |||
Debt Instrument, Face Amount | 35,391,576 | ' | 35,391,576 | ' | 38,216,860 | |||
Short-term Debt, Weighted Average Interest Rate | 0.06% | [1] | ' | 0.06% | [1] | ' | 0.09% | [1] |
Fixed-rate [Member] | Consolidated Obligation Bonds [Member] | ' | ' | ' | ' | ' | |||
Schedule of Short-term and Long-term Debt [Line Items] | ' | ' | ' | ' | ' | |||
Debt, Gross | 28,601,202 | ' | 28,601,202 | ' | 29,362,246 | |||
Variable-rate [Member] | Consolidated Obligation Bonds [Member] | ' | ' | ' | ' | ' | |||
Schedule of Short-term and Long-term Debt [Line Items] | ' | ' | ' | ' | ' | |||
Debt, Gross | 30,910,000 | ' | 30,910,000 | ' | 28,650,000 | |||
Step-up [Member] | Consolidated Obligation Bonds [Member] | ' | ' | ' | ' | ' | |||
Schedule of Short-term and Long-term Debt [Line Items] | ' | ' | ' | ' | ' | |||
Debt, Gross | $30,000 | ' | $30,000 | ' | $15,000 | |||
[1] | Represents an implied rate without consideration of concessions. |
Affordable_Housing_Program_AHP2
Affordable Housing Program (AHP) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Affordable Housing Program [Roll Forward] | ' | ' | ' | ' |
AHP Obligation, Beginning Balance | ' | ' | $93,789 | ' |
AHP, Expense (Current Year Additions) | 6,863 | 7,033 | 13,351 | 14,270 |
AHP, Subsidy Uses, Net | ' | ' | -10,597 | -7,299 |
AHP Obligation, Ending Balance | $96,543 | ' | $96,543 | ' |
Capital_Details
Capital (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Capital [Abstract] | ' | ' |
Risk Based Capital Required | $491,095 | $547,455 |
Risk Based Capital Actual | 4,973,928 | 5,435,002 |
Regulatory Capital Ratio, Required | 4.00% | 4.00% |
Regulatory Capital Ratio, Actual | 4.91% | 5.27% |
Regulatory Capital, Required | 4,050,339 | 4,127,228 |
Regulatory Capital, Actual | 4,973,928 | 5,435,002 |
Leverage Ratio, Required | 5.00% | 5.00% |
Leverage Ratio, Actual | 7.37% | 7.90% |
Leverage Capital, Required | 5,062,924 | 5,159,035 |
Leverage Capital, Actual | 7,460,892 | 8,152,503 |
Retained Earnings, Appropriated | $134,404 | $110,843 |
Capital_Mandatorily_Redeemable
Capital (Mandatorily Redeemable Capital Stock) (Details) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Mandatorily Redeemable Capital Stock [Roll Forward] | ' | ' |
Balance at beginning period | $115,853 | ' |
Net Shares Reclassified to Mandatorily Redeemable Capital Stock, Value | 16,600 | 18,592 |
Repayments of Mandatory Redeemable Capital Securities | -20,181 | -104,420 |
Balance at end of period | $112,272 | ' |
Capital_Mandatorily_Redeemable1
Capital (Mandatorily Redeemable Capital Stock by Contractual Year of Redemption) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Capital [Abstract] | ' | ' | ||
Due in 1 year or less | $107,530 | $114,531 | ||
Due after 1 year through 2 years | 0 | 130 | ||
Due after 2 years through 3 years | 0 | 0 | ||
Due after 3 years through 4 years | 0 | 0 | ||
Due after 4 years through 5 years | 2,371 | 71 | ||
Past contractual redemption date due to remaining activity | 2,371 | [1] | 1,121 | [1] |
Total par value | $112,272 | $115,853 | ||
[1] | Represents mandatorily redeemable capital stock that is past the end of the contractual redemption period because there is activity outstanding to which the mandatorily redeemable capital stock relates. |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive (Loss) Income (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | ' |
Accumulated other comprehensive loss, beginning of period | ' | ' | ($9,042) | ' |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | 141 | -39 | 102 | 5 |
Pension and postretirement benefits | 313 | 482 | 626 | 932 |
Total other comprehensive income adjustments | 454 | 443 | 728 | 937 |
Accumulated other comprehensive loss, end of period | -8,314 | ' | -8,314 | ' |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Available-for-sale Securities [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | ' |
Accumulated other comprehensive loss, beginning of period | -160 | 44 | -121 | 0 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | 141 | -39 | 102 | 5 |
Pension and postretirement benefits | 0 | 0 | 0 | 0 |
Total other comprehensive income adjustments | 141 | -39 | 102 | 5 |
Accumulated other comprehensive loss, end of period | -19 | 5 | -19 | 5 |
Accumulated Defined Benefit Plans Adjustment [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | ' |
Accumulated other comprehensive loss, beginning of period | -8,608 | -11,284 | -8,921 | -11,734 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | 0 | 0 | 0 | 0 |
Pension and postretirement benefits | 313 | 482 | 626 | 932 |
Total other comprehensive income adjustments | 313 | 482 | 626 | 932 |
Accumulated other comprehensive loss, end of period | -8,295 | -10,802 | -8,295 | -10,802 |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | ' |
Accumulated other comprehensive loss, beginning of period | -8,768 | -11,240 | -9,042 | -11,734 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | 141 | -39 | 102 | 5 |
Pension and postretirement benefits | 313 | 482 | 626 | 932 |
Total other comprehensive income adjustments | 454 | 443 | 728 | 937 |
Accumulated other comprehensive loss, end of period | ($8,314) | ($10,797) | ($8,314) | ($10,797) |
Pension_and_Postretirement_Ben2
Pension and Postretirement Benefit Plans Narrative (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Pentegra Defined Benefit Plan [Member] | ' | ' | ' | ' |
Employee Retirement Plans [Line Items] | ' | ' | ' | ' |
Multiemployer Plan, Period Contributions | $1,529,000 | $1,229,000 | $3,058,000 | $2,458,000 |
Pentegra Defined Contribution Plan [Member] | ' | ' | ' | ' |
Employee Retirement Plans [Line Items] | ' | ' | ' | ' |
Defined Contribution Plan, Cost Recognized | $184,000 | $172,000 | $557,000 | $524,000 |
Pension_and_Postretirement_Ben3
Pension and Postretirement Benefit Plans Net Periodic Benefit Cost (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Supplemental Employee Retirement Plan, Defined Benefit [Member] | ' | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' |
Defined Benefit Plan, Service Cost | $107 | $113 | $215 | $225 |
Defined Benefit Plan, Interest Cost | 273 | 250 | 546 | 500 |
Defined Benefit Plan, Amortization of net loss | 313 | 450 | 626 | 900 |
Defined Benefit Plan, Net Periodic Benefit Cost | 693 | 813 | 1,387 | 1,625 |
Other Postretirement Benefit Plan, Defined Benefit [Member] | ' | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' |
Defined Benefit Plan, Service Cost | 8 | 9 | 16 | 28 |
Defined Benefit Plan, Interest Cost | 30 | 34 | 57 | 99 |
Defined Benefit Plan, Amortization of net loss | 0 | 32 | 0 | 32 |
Defined Benefit Plan, Net Periodic Benefit Cost | $38 | $75 | $73 | $159 |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net interest income | $76,934 | $79,113 | $153,948 | $154,670 | ' |
Reversal for credit losses | -900 | -4,000 | -900 | -6,500 | ' |
Net interest income after (reversal) provision for credit losses | 77,834 | 83,113 | 154,848 | 161,170 | ' |
Other income | 6,324 | 1,468 | 10,068 | 9,173 | ' |
Other expenses | 16,685 | 15,668 | 33,761 | 30,683 | ' |
Income before assessments | 67,473 | 68,913 | 131,155 | 139,660 | ' |
Affordable Housing Program Assessments | 6,863 | 7,033 | 13,351 | 14,270 | ' |
Net income | 60,610 | 61,880 | 117,804 | 125,390 | ' |
Average assets | 101,492,074 | 93,827,833 | 101,842,149 | 89,150,092 | ' |
Total assets | 101,258,486 | 95,319,596 | 101,258,486 | 95,319,596 | 103,180,702 |
Traditional Member Finance [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net interest income | 58,884 | 55,766 | 116,065 | 104,371 | ' |
Reversal for credit losses | 0 | 0 | 0 | 0 | ' |
Net interest income after (reversal) provision for credit losses | 58,884 | 55,766 | 116,065 | 104,371 | ' |
Other income | 4,391 | 6,511 | 9,908 | 17,436 | ' |
Other expenses | 14,598 | 13,588 | 29,337 | 26,499 | ' |
Income before assessments | 48,677 | 48,689 | 96,636 | 95,308 | ' |
Affordable Housing Program Assessments | 4,983 | 5,011 | 9,899 | 9,835 | ' |
Net income | 43,694 | 43,678 | 86,737 | 85,473 | ' |
Average assets | 94,796,053 | 86,698,404 | 95,103,409 | 81,884,300 | ' |
Total assets | 94,537,107 | 88,309,400 | 94,537,107 | 88,309,400 | ' |
Mortgage Purchase Program [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net interest income | 18,050 | 23,347 | 37,883 | 50,299 | ' |
Reversal for credit losses | -900 | -4,000 | -900 | -6,500 | ' |
Net interest income after (reversal) provision for credit losses | 18,950 | 27,347 | 38,783 | 56,799 | ' |
Other income | 1,933 | ' | 160 | ' | ' |
Other Loss | ' | -5,043 | ' | -8,263 | ' |
Other expenses | 2,087 | 2,080 | 4,424 | 4,184 | ' |
Income before assessments | 18,796 | 20,224 | 34,519 | 44,352 | ' |
Affordable Housing Program Assessments | 1,880 | 2,022 | 3,452 | 4,435 | ' |
Net income | 16,916 | 18,202 | 31,067 | 39,917 | ' |
Average assets | 6,696,021 | 7,129,429 | 6,738,740 | 7,265,792 | ' |
Total assets | $6,721,379 | $7,010,196 | $6,721,379 | $7,010,196 | ' |
Fair_Value_Disclosures_Fair_Va1
Fair Value Disclosures Fair Value Summary (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||||||
Assets | ' | ' | ' | ' | ' | ' | ||
Trading securities | $1,469 | ' | $1,578 | ' | ' | ' | ||
Available-for-sale securities | 2,004,981 | ' | 2,184,879 | ' | ' | ' | ||
Held-to-maturity Securities | 15,672,940 | [1] | ' | 16,087,162 | [1] | ' | ' | ' |
Held-to-maturity Securities, Fair Value | 15,642,823 | ' | 15,808,397 | ' | ' | ' | ||
Derivative assets | 5,389 | ' | 3,241 | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Consolidated Obligations, Bonds | 2,780,023 | 2,265,459 | 4,018,370 | 100,109 | 2,002,068 | 3,402,366 | ||
Mandatorily redeemable capital stock | 112,272 | ' | 115,853 | ' | ' | ' | ||
Derivative liabilities | 72,323 | ' | 97,766 | ' | ' | ' | ||
Consolidated Obligation Bonds [Member] | ' | ' | ' | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Consolidated Obligations, Bonds | 2,780,023 | ' | 4,018,370 | ' | ' | ' | ||
Carrying Value | ' | ' | ' | ' | ' | ' | ||
Assets | ' | ' | ' | ' | ' | ' | ||
Cash and Due from Banks | 219,048 | ' | 8,598,933 | ' | ' | ' | ||
Interest-bearing deposits | 218 | ' | 166 | ' | ' | ' | ||
Securities purchased under resale agreements | 5,950,000 | ' | 2,350,000 | ' | ' | ' | ||
Federal funds sold | 1,105,000 | ' | 1,740,000 | ' | ' | ' | ||
Trading securities | 1,469 | ' | 1,578 | ' | ' | ' | ||
Available-for-sale securities | 2,004,981 | ' | 2,184,879 | ' | ' | ' | ||
Held-to-maturity Securities | 15,672,940 | ' | 16,087,162 | ' | ' | ' | ||
Advances | 69,485,413 | ' | 65,270,390 | ' | ' | ' | ||
Mortgage loans held for portfolio, net | 6,696,258 | ' | 6,818,290 | ' | ' | ' | ||
Accrued interest receivable | 82,057 | ' | 85,151 | ' | ' | ' | ||
Derivative assets | 5,389 | ' | 3,241 | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Deposits | 803,778 | ' | 913,895 | ' | ' | ' | ||
Mandatorily redeemable capital stock | 112,272 | ' | 115,853 | ' | ' | ' | ||
Accrued Interest Payable, Fair Value Disclosure | 118,032 | ' | 116,381 | ' | ' | ' | ||
Derivative liabilities | 72,323 | ' | 97,766 | ' | ' | ' | ||
Carrying Value | Consolidated Obligation Bonds [Member] | ' | ' | ' | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Consolidated Obligations, Bonds | 59,653,311 | [2] | ' | 58,162,739 | [3] | ' | ' | ' |
Fair Value | ' | ' | ' | ' | ' | ' | ||
Assets | ' | ' | ' | ' | ' | ' | ||
Cash and Due from Banks | 219,048 | ' | 8,598,933 | ' | ' | ' | ||
Interest-bearing deposits | 218 | ' | 166 | ' | ' | ' | ||
Securities purchased under resale agreements | 5,950,000 | ' | 2,350,000 | ' | ' | ' | ||
Federal funds sold | 1,105,000 | ' | 1,740,000 | ' | ' | ' | ||
Trading securities | 1,469 | ' | 1,578 | ' | ' | ' | ||
Available-for-sale securities | 2,004,981 | ' | 2,184,879 | ' | ' | ' | ||
Held-to-maturity Securities, Fair Value | 15,642,823 | ' | 15,808,397 | ' | ' | ' | ||
Advances | 69,411,038 | ' | 65,065,523 | ' | ' | ' | ||
Mortgage loans held for portfolio, net | 6,898,519 | ' | 6,827,406 | ' | ' | ' | ||
Accrued interest receivable | 82,057 | ' | 85,151 | ' | ' | ' | ||
Derivative assets | 5,389 | ' | 3,241 | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Deposits | 803,678 | ' | 913,799 | ' | ' | ' | ||
Mandatorily redeemable capital stock | 112,272 | ' | 115,853 | ' | ' | ' | ||
Accrued Interest Payable, Fair Value Disclosure | 118,032 | ' | 116,381 | ' | ' | ' | ||
Derivative liabilities | 72,323 | ' | 97,766 | ' | ' | ' | ||
Fair Value | Consolidated Obligation Bonds [Member] | ' | ' | ' | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Consolidated Obligations, Bonds | 59,845,107 | [2] | ' | 58,075,025 | [3] | ' | ' | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' | ' | ' | ||
Assets | ' | ' | ' | ' | ' | ' | ||
Cash and Due from Banks | 219,048 | ' | 8,598,933 | ' | ' | ' | ||
Interest-bearing deposits | 0 | ' | 0 | ' | ' | ' | ||
Securities purchased under resale agreements | 0 | ' | 0 | ' | ' | ' | ||
Federal funds sold | 0 | ' | 0 | ' | ' | ' | ||
Trading securities | 0 | ' | 0 | ' | ' | ' | ||
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' | ||
Held-to-maturity Securities, Fair Value | 0 | ' | 0 | ' | ' | ' | ||
Advances | 0 | ' | 0 | ' | ' | ' | ||
Mortgage loans held for portfolio, net | 0 | ' | 0 | ' | ' | ' | ||
Accrued interest receivable | 0 | ' | 0 | ' | ' | ' | ||
Derivative assets | 0 | ' | 0 | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Deposits | 0 | ' | 0 | ' | ' | ' | ||
Mandatorily redeemable capital stock | 112,272 | ' | 115,853 | ' | ' | ' | ||
Accrued Interest Payable, Fair Value Disclosure | 0 | ' | 0 | ' | ' | ' | ||
Derivative liabilities | 0 | ' | 0 | ' | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | Consolidated Obligation Bonds [Member] | ' | ' | ' | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Consolidated Obligations, Bonds | 0 | [2] | ' | 0 | [3] | ' | ' | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' | ' | ' | ||
Assets | ' | ' | ' | ' | ' | ' | ||
Cash and Due from Banks | 0 | ' | 0 | ' | ' | ' | ||
Interest-bearing deposits | 218 | ' | 166 | ' | ' | ' | ||
Securities purchased under resale agreements | 5,950,000 | ' | 2,350,000 | ' | ' | ' | ||
Federal funds sold | 1,105,000 | ' | 1,740,000 | ' | ' | ' | ||
Trading securities | 1,469 | ' | 1,578 | ' | ' | ' | ||
Available-for-sale securities | 2,004,981 | ' | 2,184,879 | ' | ' | ' | ||
Held-to-maturity Securities, Fair Value | 15,642,823 | ' | 15,808,397 | ' | ' | ' | ||
Advances | 69,411,038 | ' | 65,065,523 | ' | ' | ' | ||
Mortgage loans held for portfolio, net | 6,852,000 | ' | 6,774,514 | ' | ' | ' | ||
Accrued interest receivable | 82,057 | ' | 85,151 | ' | ' | ' | ||
Derivative assets | 32,123 | ' | 39,445 | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Deposits | 803,678 | ' | 913,799 | ' | ' | ' | ||
Mandatorily redeemable capital stock | 0 | ' | 0 | ' | ' | ' | ||
Accrued Interest Payable, Fair Value Disclosure | 118,032 | ' | 116,381 | ' | ' | ' | ||
Derivative liabilities | 193,391 | ' | 223,835 | ' | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | Consolidated Obligation Bonds [Member] | ' | ' | ' | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Consolidated Obligations, Bonds | 59,845,107 | [2] | ' | 58,075,025 | [3] | ' | ' | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | ' | ' | ||
Assets | ' | ' | ' | ' | ' | ' | ||
Cash and Due from Banks | 0 | ' | 0 | ' | ' | ' | ||
Interest-bearing deposits | 0 | ' | 0 | ' | ' | ' | ||
Securities purchased under resale agreements | 0 | ' | 0 | ' | ' | ' | ||
Federal funds sold | 0 | ' | 0 | ' | ' | ' | ||
Trading securities | 0 | ' | 0 | ' | ' | ' | ||
Available-for-sale securities | 0 | ' | 0 | ' | ' | ' | ||
Held-to-maturity Securities, Fair Value | 0 | ' | 0 | ' | ' | ' | ||
Advances | 0 | ' | 0 | ' | ' | ' | ||
Mortgage loans held for portfolio, net | 46,519 | ' | 52,892 | ' | ' | ' | ||
Accrued interest receivable | 0 | ' | 0 | ' | ' | ' | ||
Derivative assets | 0 | ' | 0 | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Deposits | 0 | ' | 0 | ' | ' | ' | ||
Mandatorily redeemable capital stock | 0 | ' | 0 | ' | ' | ' | ||
Accrued Interest Payable, Fair Value Disclosure | 0 | ' | 0 | ' | ' | ' | ||
Derivative liabilities | 0 | ' | 0 | ' | ' | ' | ||
Fair Value, Inputs, Level 3 [Member] | Consolidated Obligation Bonds [Member] | ' | ' | ' | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Consolidated Obligations, Bonds | 0 | [2] | ' | 0 | [3] | ' | ' | ' |
Netting and Collateral [Member] | ' | ' | ' | ' | ' | ' | ||
Assets | ' | ' | ' | ' | ' | ' | ||
Cash and Due from Banks | 0 | [4] | ' | 0 | [4] | ' | ' | ' |
Interest-bearing deposits | 0 | [4] | ' | 0 | [4] | ' | ' | ' |
Securities purchased under resale agreements | 0 | [4] | ' | 0 | [4] | ' | ' | ' |
Federal funds sold | 0 | [4] | ' | 0 | [4] | ' | ' | ' |
Trading securities | 0 | [4] | ' | 0 | [4] | ' | ' | ' |
Available-for-sale securities | 0 | [4] | ' | 0 | [4] | ' | ' | ' |
Held-to-maturity Securities, Fair Value | 0 | [4] | ' | 0 | [4] | ' | ' | ' |
Advances | 0 | [4] | ' | 0 | [4] | ' | ' | ' |
Mortgage loans held for portfolio, net | 0 | [4] | ' | 0 | [4] | ' | ' | ' |
Accrued interest receivable | 0 | [4] | ' | 0 | [4] | ' | ' | ' |
Derivative assets | -26,734 | [4] | ' | -36,204 | [4] | ' | ' | ' |
Liabilities | ' | ' | ' | ' | ' | ' | ||
Deposits | 0 | [4] | ' | 0 | [4] | ' | ' | ' |
Mandatorily redeemable capital stock | 0 | [4] | ' | 0 | [4] | ' | ' | ' |
Accrued Interest Payable, Fair Value Disclosure | 0 | [4] | ' | 0 | [4] | ' | ' | ' |
Derivative liabilities | -121,068 | [4] | ' | -126,069 | [4] | ' | ' | ' |
Netting and Collateral [Member] | Consolidated Obligation Bonds [Member] | ' | ' | ' | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Consolidated Obligations, Bonds | 0 | [2],[4] | ' | 0 | [3],[4] | ' | ' | ' |
Discount Notes [Member] | Carrying Value | ' | ' | ' | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Consolidated Obligations, Discount Notes | 35,389,600 | ' | 38,209,946 | ' | ' | ' | ||
Discount Notes [Member] | Fair Value | ' | ' | ' | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Consolidated Obligations, Discount Notes | 35,386,153 | ' | 38,200,971 | ' | ' | ' | ||
Discount Notes [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Consolidated Obligations, Discount Notes | 0 | ' | 0 | ' | ' | ' | ||
Discount Notes [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Consolidated Obligations, Discount Notes | 35,386,153 | ' | 38,200,971 | ' | ' | ' | ||
Discount Notes [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Consolidated Obligations, Discount Notes | 0 | ' | 0 | ' | ' | ' | ||
Discount Notes [Member] | Netting and Collateral [Member] | ' | ' | ' | ' | ' | ' | ||
Liabilities | ' | ' | ' | ' | ' | ' | ||
Consolidated Obligations, Discount Notes | 0 | [4] | ' | 0 | [4] | ' | ' | ' |
Loan Origination Commitments [Member] | Carrying Value | ' | ' | ' | ' | ' | ' | ||
Other [Abstract] | ' | ' | ' | ' | ' | ' | ||
Commitments, Fair Value Disclosure | 0 | ' | ' | ' | ' | ' | ||
Loan Origination Commitments [Member] | Fair Value | ' | ' | ' | ' | ' | ' | ||
Other [Abstract] | ' | ' | ' | ' | ' | ' | ||
Commitments, Fair Value Disclosure | 1 | ' | ' | ' | ' | ' | ||
Loan Origination Commitments [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' | ' | ' | ||
Other [Abstract] | ' | ' | ' | ' | ' | ' | ||
Commitments, Fair Value Disclosure | 0 | ' | ' | ' | ' | ' | ||
Loan Origination Commitments [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' | ' | ' | ||
Other [Abstract] | ' | ' | ' | ' | ' | ' | ||
Commitments, Fair Value Disclosure | 1 | ' | ' | ' | ' | ' | ||
Loan Origination Commitments [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | ' | ' | ||
Other [Abstract] | ' | ' | ' | ' | ' | ' | ||
Commitments, Fair Value Disclosure | 0 | ' | ' | ' | ' | ' | ||
Loan Origination Commitments [Member] | Netting and Collateral [Member] | ' | ' | ' | ' | ' | ' | ||
Other [Abstract] | ' | ' | ' | ' | ' | ' | ||
Commitments, Fair Value Disclosure | 0 | [4] | ' | ' | ' | ' | ' | |
Commitments for Standby Bond Purchases [Member] | Carrying Value | ' | ' | ' | ' | ' | ' | ||
Other [Abstract] | ' | ' | ' | ' | ' | ' | ||
Commitments, Fair Value Disclosure | 0 | ' | 0 | ' | ' | ' | ||
Commitments for Standby Bond Purchases [Member] | Fair Value | ' | ' | ' | ' | ' | ' | ||
Other [Abstract] | ' | ' | ' | ' | ' | ' | ||
Commitments, Fair Value Disclosure | 2,517 | ' | 3,715 | ' | ' | ' | ||
Commitments for Standby Bond Purchases [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' | ' | ' | ||
Other [Abstract] | ' | ' | ' | ' | ' | ' | ||
Commitments, Fair Value Disclosure | 0 | ' | 0 | ' | ' | ' | ||
Commitments for Standby Bond Purchases [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' | ' | ' | ||
Other [Abstract] | ' | ' | ' | ' | ' | ' | ||
Commitments, Fair Value Disclosure | 2,517 | ' | 3,715 | ' | ' | ' | ||
Commitments for Standby Bond Purchases [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | ' | ' | ||
Other [Abstract] | ' | ' | ' | ' | ' | ' | ||
Commitments, Fair Value Disclosure | 0 | ' | 0 | ' | ' | ' | ||
Commitments for Standby Bond Purchases [Member] | Netting and Collateral [Member] | ' | ' | ' | ' | ' | ' | ||
Other [Abstract] | ' | ' | ' | ' | ' | ' | ||
Commitments, Fair Value Disclosure | $0 | [4] | ' | $0 | [4] | ' | ' | ' |
[1] | Fair values: $15,642,823 and $15,808,397 at June 30, 2014 and December 31, 2013, respectively. | |||||||
[2] | Includes (in thousands) $2,780,023 of Consolidated Bonds recorded under the fair value option at June 30, 2014. | |||||||
[3] | Includes (in thousands) $4,018,370 of Consolidated Bonds recorded under the fair value option at December 31, 2013. | |||||||
[4] | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLBank with the same counterparty. |
Fair_Value_Disclosures_Fair_Va2
Fair Value Disclosures Fair Value Measured on a Recurring Basis (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | $1,469 | $1,578 | ||
Available-for-sale securities | 2,004,981 | 2,184,879 | ||
Derivative assets | 5,389 | 3,241 | ||
Derivative liabilities | 72,323 | 97,766 | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | 0 | ||
Available-for-sale securities | 0 | 0 | ||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 1,469 | 1,578 | ||
Available-for-sale securities | 2,004,981 | 2,184,879 | ||
Derivative assets | 32,123 | 39,445 | ||
Derivative liabilities | 193,391 | 223,835 | ||
Fair Value, Inputs, 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 | ||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Netting and Collateral [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | [1] | 0 | [1] |
Available-for-sale securities | 0 | [1] | 0 | [1] |
Derivative assets | -26,734 | [1] | -36,204 | [1] |
Derivative liabilities | -121,068 | [1] | -126,069 | [1] |
Fair Value, Measurements, Recurring [Member] | Fair Value | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 5,389 | 3,241 | ||
Total assests at fair value | 2,011,839 | 2,189,698 | ||
Derivative liabilities | 72,323 | 97,766 | ||
Total liabilities at fair value | 2,852,346 | 4,116,136 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value | Consolidated Obligation Bonds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Long-term Debt, Fair Value | 2,780,023 | [2] | 4,018,370 | [2] |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 0 | 0 | ||
Total assests at fair value | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Total liabilities at fair value | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Consolidated Obligation Bonds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Long-term Debt, Fair Value | 0 | [2] | 0 | [2] |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 32,123 | 39,445 | ||
Total assests at fair value | 2,038,573 | 2,225,902 | ||
Derivative liabilities | 193,391 | 223,835 | ||
Total liabilities at fair value | 2,973,414 | 4,242,205 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Consolidated Obligation Bonds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Long-term Debt, Fair Value | 2,780,023 | [2] | 4,018,370 | [2] |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 0 | 0 | ||
Total assests at fair value | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Total liabilities at fair value | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Consolidated Obligation Bonds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Long-term Debt, Fair Value | 0 | [2] | 0 | [2] |
Fair Value, Measurements, Recurring [Member] | Netting and Collateral [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | -26,734 | [1] | -36,204 | [1] |
Total assests at fair value | -26,734 | [1] | -36,204 | [1] |
Derivative liabilities | -121,068 | [1] | -126,069 | [1] |
Total liabilities at fair value | -121,068 | [1] | -126,069 | [1] |
Fair Value, Measurements, Recurring [Member] | Netting and Collateral [Member] | Consolidated Obligation Bonds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Long-term Debt, Fair Value | 0 | [1],[2] | 0 | [1],[2] |
Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 1,556 | 2,785 | ||
Derivative liabilities | 69,290 | 97,354 | ||
Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 28,290 | 38,989 | ||
Derivative liabilities | 190,358 | 223,423 | ||
Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member] | Netting and Collateral [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | -26,734 | [1] | -36,204 | [1] |
Derivative liabilities | -121,068 | [1] | -126,069 | [1] |
Forward Rate Agreements [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 20 | 454 | ||
Derivative liabilities | 2,986 | ' | ||
Forward Rate Agreements [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 0 | ' | ||
Forward Rate Agreements [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 20 | 454 | ||
Derivative liabilities | 2,986 | ' | ||
Forward Rate Agreements [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 0 | ' | ||
Forward Rate Agreements [Member] | Fair Value, Measurements, Recurring [Member] | Netting and Collateral [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 0 | [1] | 0 | [1] |
Derivative liabilities | 0 | [1] | ' | |
Mortgage Delivery Commitments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 3,813 | 2 | ||
Derivative liabilities | 47 | 412 | ||
Mortgage Delivery Commitments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Mortgage Delivery Commitments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 3,813 | 2 | ||
Derivative liabilities | 47 | 412 | ||
Mortgage Delivery Commitments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Mortgage Delivery Commitments [Member] | Fair Value, Measurements, Recurring [Member] | Netting and Collateral [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 0 | [1] | 0 | [1] |
Derivative liabilities | 0 | [1] | 0 | [1] |
Other U.S. obligation residential mortgage-backed securities | Fair Value, Measurements, Recurring [Member] | Fair Value | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 1,469 | 1,578 | ||
Other U.S. obligation residential mortgage-backed securities | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | 0 | ||
Other U.S. obligation residential mortgage-backed securities | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 1,469 | 1,578 | ||
Other U.S. obligation residential mortgage-backed securities | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | 0 | ||
Other U.S. obligation residential mortgage-backed securities | Fair Value, Measurements, Recurring [Member] | Netting and Collateral [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Trading securities | 0 | [1] | 0 | [1] |
Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale securities | 2,004,981 | 2,184,879 | ||
Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale securities | 0 | 0 | ||
Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale securities | 2,004,981 | 2,184,879 | ||
Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale securities | 0 | 0 | ||
Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member] | Netting and Collateral [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available-for-sale securities | $0 | [1] | $0 | [1] |
[1] | Amounts represent the application of the netting requirements that allow the FHLBank to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLBank with the same counterparty. | |||
[2] | Represents Consolidated Obligation Bonds recorded under the fair value option. |
Fair_Value_Disclosures_Fair_Va3
Fair Value Disclosures Fair Value Option (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Fair Value, Option, Quantitative Disclosures [Roll Forward] | ' | ' | ' | ' |
Balance at beginning of period | ($2,265,459) | ($2,002,068) | ($4,018,370) | ($3,402,366) |
New transactions elected for fair value option | -1,515,000 | 0 | -2,765,000 | 0 |
Maturities and terminations | 1,000,000 | 1,900,000 | 4,000,000 | 3,300,000 |
Net gains (losses) on instruments held under the fair value option | -80 | 355 | 1,280 | 887 |
Change in accrued interest | 516 | 1,604 | 2,067 | 1,370 |
Balance at end of period | ($2,780,023) | ($100,109) | ($2,780,023) | ($100,109) |
Fair_Value_Disclosures_Fair_Va4
Fair Value Disclosures Fair Value Impact on Financial Performance (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Interest Expense | ($149,304) | ($144,536) | ($301,166) | ($286,192) |
Net gains (losses) on instruments held under the fair value option | -80 | 355 | 1,280 | 887 |
Consolidated Obligation Bonds [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Interest Expense | -841 | -701 | -2,439 | -2,060 |
Net gains (losses) on instruments held under the fair value option | -80 | 355 | 1,280 | 887 |
Fair Value Option, Total Change in Fair Value Included in Earnings | ($921) | ($346) | ($1,159) | ($1,173) |
Fair_Value_Disclosures_Fair_Va5
Fair Value Disclosures Fair Value Difference Between Fair Value and Remaining Contractual Principal Balance Outstanding (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ' | ' | ' | ' |
Aggregate Fair Value | $2,780,023 | $2,265,459 | $4,018,370 | $100,109 | $2,002,068 | $3,402,366 |
Consolidated Obligation Bonds [Member] | ' | ' | ' | ' | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ' | ' | ' | ' |
Aggregate Unpaid Principal Balance | 2,780,000 | ' | 4,015,000 | ' | ' | ' |
Fair Value Over (Under) Aggregate Unpaid Principal Balance | $23 | ' | $3,370 | ' | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Standby Letters of Credit [Member] | ' | ' | ||
Loss Contingencies [Line Items] | ' | ' | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | $14,981,000 | $13,317,887 | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 581,569 | 154,086 | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 15,562,569 | 13,471,973 | ||
Commitments for Standby Bond Purchases [Member] | ' | ' | ||
Loss Contingencies [Line Items] | ' | ' | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 38,480 | 10,960 | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 215,265 | 273,025 | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 253,745 | 283,985 | ||
Loan Origination Commitments [Member] | ' | ' | ||
Loss Contingencies [Line Items] | ' | ' | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 3,000 | 0 | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 0 | 0 | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 3,000 | 0 | ||
Commitments to Invest in Mortgage Loans [Member] | ' | ' | ||
Loss Contingencies [Line Items] | ' | ' | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 429,399 | 36,620 | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 0 | 0 | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 429,399 | 36,620 | ||
Consolidated Obligation Bonds [Member] | ' | ' | ||
Loss Contingencies [Line Items] | ' | ' | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 0 | [1] | 240,000 | [1] |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 0 | [1] | 0 | [1] |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 0 | [1] | 240,000 | [1] |
Discount Notes [Member] | ' | ' | ||
Loss Contingencies [Line Items] | ' | ' | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 5,000 | [1] | 1,122,298 | [1] |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 0 | [1] | 0 | [1] |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | $5,000 | [1] | $1,122,298 | [1] |
[1] | Expiration is based on settlement period rather than underlying contractual maturity of Consolidated Obligations. |
Commitments_and_Contingencies_2
Commitments and Contingencies Legal Proceedings (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2008 | 1-May-10 |
Commitments and Contingencies Disclosure [Abstract] | ' | ' |
Estimated Unjust Gain to the Bank on Lehman Swaps Automatically Terminated and Related to Lehmans 2008 Bankruptcy | $43 | ' |
Loss Contingency, Damages Sought Through Derivative Alternative Dispute Resolution Notice From Lehman Bankruptcy Estate, Value | ' | $65.80 |
Percent Over LIBOR That Settlement Demand Sought by Lehman Bankruptcy Estate is Accruing Interest | ' | 14.50% |
Transactions_with_Other_FHLBan2
Transactions with Other FHLBanks (Details) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Schedule of Other Transactions [Line Items] | ' | ' |
Proceeds from Bonds Transferred from Other Federal Home Loan Banks | $0 | $0 |
Payments for Bonds Transferred to Other Federal Home Loan Banks | 0 | 0 |
Other FHLBanks [Member] | ' | ' |
Schedule of Other Transactions [Line Items] | ' | ' |
Loans Receivable, Average Outstanding Amount | 166 | 4,779 |
Other FHLBanks [Member] | ' | ' |
Schedule of Other Transactions [Line Items] | ' | ' |
Short-term Debt, Average Outstanding Amount | $0 | $8,287 |
Transactions_with_Stockholders2
Transactions with Stockholders (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
Schedule of Other Transactions [Line Items] | ' | ' | ||
Advances | $69,485,413,000 | $65,270,390,000 | ||
Loans And Leases Receivable, Unpaid Principal Balance | 6,523,864,000 | 6,643,199,000 | ||
Notional Amount of Derivatives | 7,645,814,000 | 8,727,960,000 | ||
Director Transaction [Member] | ' | ' | ||
Schedule of Other Transactions [Line Items] | ' | ' | ||
Advances | 2,531,000,000 | 1,611,000,000 | ||
Federal Home Loan Bank Advances, Percent of Principal | 3.70% | [1] | 2.50% | [1] |
Loans And Leases Receivable, Unpaid Principal Balance | 136,000,000 | 57,000,000 | ||
Federal Home Loan Bank, Mortgage Purchase Program, Unpaid Principal Balance, Percent of Total | 2.10% | [1] | 0.90% | [1] |
Mortgage-backed Securities | 0 | 0 | ||
Mortgage-backed Securities, Percent of Total | 0.00% | [1] | 0.00% | [1] |
Regulatory Capital Stock, Value | 208,000,000 | 246,000,000 | ||
Regulatory Capital Stock, Percent of Total | 4.80% | [1] | 5.10% | [1] |
Notional Amount of Derivatives | $0 | $0 | ||
Derivative Notional Amount, Percent | 0.00% | [1] | 0.00% | [1] |
[1] | Percentage of total principal (Advances), unpaid principal balance (MPP), principal balance (mortgage-backed securities), regulatory capital stock, and notional balances (derivatives). |
Transactions_with_Stockholders3
Transactions with Stockholders (Concentrations) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Concentration Risk [Line Items] | ' | ' |
Advances | $69,485,413,000 | $65,270,390,000 |
Capital Stock Ownership By Third Party [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 2,256,000,000 | 2,526,000,000 |
Concentration Risk, Percentage | 52.00% | 52.00% |
Advances to Members and Former Members [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Advances | 46,942,000,000 | 46,310,000,000 |
Mortgage Purchase Program [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Federal Home Loan Bank, Mortgage Purchase Program, Unpaid Principal Balance | 46,000,000 | 49,000,000 |
JPMorgan Chase Bank National Association [Member] | Capital Stock Ownership By Third Party [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 1,533,000,000 | 1,533,000,000 |
Concentration Risk, Percentage | 35.00% | 32.00% |
JPMorgan Chase Bank National Association [Member] | Advances to Members and Former Members [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Advances | 39,700,000,000 | 41,700,000,000 |
JPMorgan Chase Bank National Association [Member] | Mortgage Purchase Program [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Federal Home Loan Bank, Mortgage Purchase Program, Unpaid Principal Balance | 0 | 0 |
U.S. Bank, N.A. [Member] | Capital Stock Ownership By Third Party [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 475,000,000 | 592,000,000 |
Concentration Risk, Percentage | 11.00% | 12.00% |
U.S. Bank, N.A. [Member] | Advances to Members and Former Members [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Advances | 5,467,000,000 | 4,584,000,000 |
U.S. Bank, N.A. [Member] | Mortgage Purchase Program [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Federal Home Loan Bank, Mortgage Purchase Program, Unpaid Principal Balance | 42,000,000 | 45,000,000 |
Fifth Third Bank [Member] | Capital Stock Ownership By Third Party [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Regulatory Capital Stock, Value | 248,000,000 | 401,000,000 |
Concentration Risk, Percentage | 6.00% | 8.00% |
Fifth Third Bank [Member] | Advances to Members and Former Members [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Advances | 1,775,000,000 | 26,000,000 |
Fifth Third Bank [Member] | Mortgage Purchase Program [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Federal Home Loan Bank, Mortgage Purchase Program, Unpaid Principal Balance | $4,000,000 | $4,000,000 |
Kentucky Housing Corporation, Ohio Housing Finance Agency, Tennessee Housing Development Agency [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Number of Relationships With Non Member Affiliates | 3 | ' |