Document_and_Entity_Informatio
Document and Entity Information Document (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Feb. 28, 2015 | Jun. 30, 2014 | |
Document and Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | Federal Home Loan Bank of Cincinnati | ||
Entity Central Index Key | 1326771 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 43,469,466 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $0 |
Statements_of_Condition
Statements of Condition (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
ASSETS | ||||
Cash and due from banks | $3,109,970 | $8,598,933 | ||
Interest-bearing deposits | 119 | 166 | ||
Securities purchased under agreements to resell | 3,343,000 | 2,350,000 | ||
Federal funds sold | 6,600,000 | 1,740,000 | ||
Investment securities: | ||||
Trading securities | 1,341 | 1,578 | ||
Available-for-sale securities | 1,349,977 | 2,184,879 | ||
Held-to-maturity securities (includes $0 and $0 pledged as collateral in 2014 and 2013, respectively, that may be repledged) | 14,712,271 | [1] | 16,087,162 | [1] |
Total investment securities | 16,063,589 | 18,273,619 | ||
Advances (includes $15,042 and $0 at fair value under fair value option in 2014 and 2013, respectively) | 70,405,616 | 65,270,390 | ||
Mortgage loans held for portfolio: | ||||
Mortgage loans held for portfolio | 6,989,602 | 6,825,523 | ||
Less: allowance for credit losses on mortgage loans | 4,919 | 7,233 | ||
Mortgage loans held for portfolio, net | 6,984,683 | 6,818,290 | ||
Accrued interest receivable | 81,384 | 85,151 | ||
Premises, software, and equipment, net | 11,282 | 13,811 | ||
Derivative assets | 14,699 | 3,241 | ||
Other assets | 26,077 | 27,101 | ||
TOTAL ASSETS | 106,640,419 | 103,180,702 | ||
LIABILITIES | ||||
Deposits | 729,936 | 913,895 | ||
Consolidated Obligations, net: | ||||
Discount Notes | 41,232,127 | 38,209,946 | ||
Bonds (includes $4,209,640 and $4,018,370 at fair value under fair value option in 2014 and 2013, respectively) | 59,216,557 | 58,162,739 | ||
Total Consolidated Obligations, net | 100,448,684 | 96,372,685 | ||
Mandatorily redeemable capital stock | 62,963 | 115,853 | ||
Accrued interest payable | 114,781 | 116,381 | ||
Affordable Housing Program payable | 98,103 | 93,789 | ||
Derivative liabilities | 63,767 | 97,766 | ||
Other liabilities | 183,177 | 160,226 | ||
Total liabilities | 101,701,411 | 97,870,595 | ||
Commitments and contingencies | ||||
CAPITAL | ||||
Capital stock Class B putable ($100 par value); issued and outstanding shares: 42,665 shares in 2014 and 46,980 shares in 2013 | 4,266,543 | 4,697,985 | ||
Retained earnings: | ||||
Unrestricted | 529,367 | 510,321 | ||
Restricted | 159,694 | 110,843 | ||
Total retained earnings | 689,061 | 621,164 | ||
Accumulated other comprehensive loss | -16,596 | -9,042 | ||
Total capital | 4,939,008 | 5,310,107 | ||
TOTAL LIABILITIES AND CAPITAL | $106,640,419 | $103,180,702 | ||
[1] | Fair values: $14,794,326 and $15,808,397 at December 31, 2014 and 2013, respectively. |
Statements_of_Condition_Parent
Statements of Condition (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, except Per Share data, unless otherwise specified | ||||
Held-to-maturity Securities Pledged as Collateral | $0 | $0 | ||
Advances, Fair Value Disclosure | 15,042 | [1] | 0 | [1] |
Common Stock, Par or Stated Value Per Share | $100 | $100 | ||
Common Stock, Shares, Issued | 42,665 | 46,980 | ||
Common Stock, Shares, Outstanding | 42,665 | 46,980 | ||
Held-to-maturity Securities, Fair Value | 14,794,326 | 15,808,397 | ||
Consolidated Obligation Bonds [Member] | ||||
Consolidated Obligations, Bonds | $4,209,640 | $4,018,370 | ||
[1] | At December 31, 2014 and 2013, none of the Advances were 90 days or more past due or had been placed on non-accrual status. |
Statements_of_Income
Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
INTEREST INCOME: | |||
Advances | $314,800 | $305,658 | $240,637 |
Prepayment fees on Advances, net | 3,624 | 2,473 | 20,064 |
Interest-bearing deposits | 85 | 185 | 571 |
Securities purchased under agreements to resell | 1,261 | 1,872 | 4,527 |
Federal funds sold | 5,426 | 6,232 | 6,844 |
Trading securities | 25 | 31 | 35,580 |
Available-for-sale securities | 3,204 | 1,827 | 2,794 |
Held-to-maturity securities | 343,042 | 313,181 | 297,127 |
Mortgage loans held for portfolio | 236,882 | 268,691 | 312,696 |
Loans to other FHLBanks | 0 | 5 | 3 |
Total interest income | 908,349 | 900,155 | 920,843 |
INTEREST EXPENSE: | |||
Consolidated Obligations - Discount Notes | 27,439 | 36,686 | 30,699 |
Consolidated Obligations - Bonds | 559,480 | 529,788 | 569,949 |
Deposits | 264 | 326 | 383 |
Loans from other FHLBanks | 0 | 5 | 1 |
Mandatorily redeemable capital stock | 4,190 | 5,506 | 11,690 |
Other borrowings | 0 | 0 | 1 |
Total interest expense | 591,373 | 572,311 | 612,723 |
NET INTEREST INCOME | 316,976 | 327,844 | 308,120 |
(Reversal) for credit losses | -500 | -7,450 | |
Provision for credit losses | 1,459 | ||
NET INTEREST INCOME AFTER (REVERSAL) PROVISION FOR CREDIT LOSSES | 317,476 | 335,294 | 306,661 |
NON-INTEREST INCOME: | |||
Net losses on trading securities | -9 | -19 | -32,770 |
Net realized gains from sale of held-to-maturity securities | 0 | 0 | 29,292 |
Net gains on financial instruments held under fair value option | 2,174 | 330 | 1,939 |
Net gains on derivatives and hedging activities | 6,627 | 7,903 | 8,735 |
Standby Letters of Credit fees | 10,767 | 8,066 | 3,144 |
Other, net | 3,071 | 3,511 | 3,072 |
Total non-interest income | 22,630 | 19,791 | 13,412 |
NON-INTEREST EXPENSE: | |||
Compensation and benefits | 36,777 | 33,992 | 30,854 |
Other operating expenses | 17,454 | 17,493 | 14,048 |
Finance Agency | 7,084 | 5,203 | 6,002 |
Office of Finance | 4,374 | 4,535 | 3,442 |
Other | 2,559 | 3,164 | 3,624 |
Total non-interest expense | 68,248 | 64,387 | 57,970 |
INCOME BEFORE ASSESSMENTS | 271,858 | 290,698 | 262,103 |
Affordable Housing Program Assessments | 27,605 | 29,620 | 27,379 |
NET INCOME | $244,253 | $261,078 | $234,724 |
Statements_of_Comprehensive_In
Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net income | $244,253 | $261,078 | $234,724 |
Other comprehensive income adjustments: | |||
Net unrealized gains (losses) on available-for-sale securities | 97 | -121 | 1,014 |
Pension and postretirement benefits | -7,651 | 2,813 | -1,747 |
Total other comprehensive income adjustments | -7,554 | 2,692 | -733 |
Comprehensive income | $236,699 | $263,770 | $233,991 |
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, 2011 | $3,559,107 | $3,125,895 | $432,530 | $11,683 | $444,213 | ($11,001) |
Shares, Issued beginning balance at Dec. 31, 2011 | 31,259 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Proceeds from sale of capital stock, shares | 9,248 | |||||
Proceeds from sale of capital stock, par value | 924,853 | 924,853 | ||||
Net shares reclassified to mandatorily redeemable capital stock, shares | -401 | |||||
Net shares reclassified to mandatorily redeemable capital stock, par value | -40,126 | -40,126 | ||||
Comprehensive Income | 233,991 | 187,779 | 46,945 | 234,724 | -733 | |
Cash dividends on capital stock | -141,056 | -141,056 | -141,056 | |||
Ending balance at Dec. 31, 2012 | 4,536,769 | 4,010,622 | 479,253 | 58,628 | 537,881 | -11,734 |
Shares, Issued ending balance at Dec. 31, 2012 | 40,106 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Proceeds from sale of capital stock, shares | 7,208 | |||||
Proceeds from sale of capital stock, par value | 720,820 | 720,820 | ||||
Net shares reclassified to mandatorily redeemable capital stock, shares | -334 | |||||
Net shares reclassified to mandatorily redeemable capital stock, par value | -33,457 | -33,457 | ||||
Comprehensive Income | 263,770 | 208,863 | 52,215 | 261,078 | 2,692 | |
Cash dividends on capital stock | -177,795 | -177,795 | -177,795 | |||
Ending balance at Dec. 31, 2013 | 5,310,107 | 4,697,985 | 510,321 | 110,843 | 621,164 | -9,042 |
Shares, Issued ending balance at Dec. 31, 2013 | 46,980 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Proceeds from sale of capital stock, shares | 835 | |||||
Proceeds from sale of capital stock, par value | 83,543 | 83,543 | ||||
Repurchase of capital stock, shares | -4,979 | |||||
Repurchase of capital stock, value | -497,875 | -497,875 | ||||
Net shares reclassified to mandatorily redeemable capital stock, shares | -171 | |||||
Net shares reclassified to mandatorily redeemable capital stock, par value | -17,110 | -17,110 | ||||
Comprehensive Income | 236,699 | 195,402 | 48,851 | 244,253 | -7,554 | |
Cash dividends on capital stock | -176,356 | -176,356 | -176,356 | |||
Ending balance at Dec. 31, 2014 | $4,939,008 | $4,266,543 | $529,367 | $159,694 | $689,061 | ($16,596) |
Shares, Issued ending balance at Dec. 31, 2014 | 42,665 |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
OPERATING ACTIVITIES: | |||
Net income | $244,253 | $261,078 | $234,724 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 8,188 | -512 | 59,389 |
Net change in derivative and hedging activities | 16,224 | 35,607 | 69,279 |
Net change in fair value adjustments on trading securities | 9 | 19 | 32,770 |
Net change in fair value adjustments on financial instruments held under fair value option | -2,174 | -330 | -1,939 |
Other adjustments | -393 | -7,464 | -27,830 |
Net change in: | |||
Accrued interest receivable | 3,746 | -1,216 | 30,354 |
Other assets | -739 | -3,244 | -726 |
Accrued interest payable | -3,177 | 10,829 | -36,317 |
Other liabilities | 19,252 | 25,470 | 42,856 |
Total adjustments | 40,936 | 59,159 | 167,836 |
Net cash provided by operating activities | 285,189 | 320,237 | 402,560 |
Net change in: | |||
Interest-bearing deposits | 30,579 | 119,127 | 279,777 |
Securities purchased under agreements to resell | -993,000 | 1,450,000 | -3,800,000 |
Federal funds sold | -4,860,000 | 1,610,000 | -1,080,000 |
Premises, software, and equipment | -686 | -7,203 | -2,129 |
Trading securities: | |||
Net decrease in short-term | 0 | 0 | 2,510,301 |
Proceeds from maturities of long-term | 228 | 325 | 317,746 |
Available-for-sale securities: | |||
Net decrease (increase) in short-term | 835,000 | -2,185,000 | 4,172,157 |
Held-to-maturity securities: | |||
Net decrease (increase) in short-term | 1,386 | -1,247 | 835,392 |
Proceeds from maturities of long-term | 2,093,933 | 2,686,432 | 3,771,382 |
Proceeds from sale of long-term | 0 | 0 | 507,531 |
Purchases of long-term | -719,833 | -5,977,152 | -5,323,500 |
Advances: | |||
Proceeds | 1,120,239,271 | 697,384,820 | 749,327,365 |
Made | -1,125,441,755 | -708,852,213 | -775,104,699 |
Mortgage loans held for portfolio: | |||
Principal collected | 1,070,820 | 1,890,141 | 2,666,537 |
Purchases | -1,260,888 | -1,203,883 | -2,374,523 |
Net cash used in investing activities | -9,004,945 | -13,085,853 | -23,296,663 |
FINANCING ACTIVITIES: | |||
Net (decrease) increase in deposits and pass-through reserves | -200,660 | -260,961 | 108,546 |
Net payments on derivative contracts with financing elements | -31,195 | -42,054 | -113,976 |
Net proceeds from issuance of Consolidated Obligations: | |||
Discount Notes | 270,415,559 | 165,083,112 | 250,629,492 |
Bonds | 41,461,146 | 34,035,263 | 35,063,026 |
Payments for maturing and retiring Consolidated Obligations: | |||
Discount Notes | -267,394,419 | -157,714,961 | -245,932,389 |
Bonds | -40,358,950 | -20,166,866 | -19,557,835 |
Proceeds from issuance of capital stock | 83,543 | 720,820 | 924,853 |
Payments for repurchase/redemption of mandatorily redeemable capital stock | -70,000 | -128,432 | -104,079 |
Payments for repurchase of capital stock | -497,875 | 0 | 0 |
Cash dividends paid | -176,356 | -177,795 | -141,056 |
Net cash provided by financing activities | 3,230,793 | 21,348,126 | 20,876,582 |
Net (decrease) increase in cash and cash equivalents | -5,488,963 | 8,582,510 | -2,017,521 |
Cash and cash equivalents at beginning of the period | 8,598,933 | 16,423 | 2,033,944 |
Cash and cash equivalents at end of the period | 3,109,970 | 8,598,933 | 16,423 |
Supplemental Disclosures: | |||
Interest paid | 621,865 | 584,640 | 649,609 |
Affordable Housing Program payments, net | $23,291 | $18,503 | $18,902 |
Background_Information
Background Information | 12 Months Ended |
Dec. 31, 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 provides a readily available, competitively-priced source of funds to its member institutions. The FHLBank is a cooperative whose member institutions own nearly all of the capital stock of the FHLBank and may receive dividends on their investment to the extent declared by the FHLBank's Board of Directors. Former members own the remaining capital stock to support business transactions still carried on the FHLBank's Statements of Condition. Regulated financial depositories and insurance companies engaged in residential housing finance may apply for membership. Housing associates, including state and local housing authorities, may also borrow from the FHLBank; while eligible to borrow, housing authorities are not members of the FHLBank and, therefore, are not allowed to hold capital stock. A housing authority is eligible to utilize the Advance programs of the FHLBank if it meets applicable statutory requirements. It must be a U.S. Department of Housing and Urban Development approved mortgagee and must also meet applicable mortgage lending, financial condition, as well as charter, inspection and supervision requirements. | |
All members must purchase stock in the FHLBank. Members must own capital stock in the FHLBank based on the amount of their total assets. Each member also may be required to purchase activity-based capital stock as it engages in certain business activities with the FHLBank. As a result of these requirements, the FHLBank conducts business with stockholders in the normal course of business. For financial statement purposes, the FHLBank defines related parties as those members with more than 10 percent of the voting interests of the FHLBank's outstanding capital stock. See Note 22 for more information relating to transactions with stockholders. | |
The Federal Housing Finance Agency (Finance Agency) was established and became the independent Federal regulator of the FHLBanks, Federal Home Loan Mortgage Corporation (Freddie Mac) and Federal National Mortgage Association (Fannie Mae), effective July 30, 2008 with the passage of the “Housing and Economic Recovery Act of 2008” (HERA). Pursuant to HERA, all regulations, orders, determinations, and resolutions that were issued, made, prescribed, or allowed to become effective by the former Federal Housing Finance Board will remain in effect until modified, terminated, set aside, or superseded by the Finance Agency Director, any court of competent jurisdiction, or operation of law. The Finance Agency's stated mission with respect to the FHLBanks is to provide effective supervision, regulation and housing mission oversight of the FHLBanks to promote their safety and soundness, support housing finance and affordable housing, and support a stable and liquid mortgage market. | |
Each FHLBank operates as a separate entity with its own management, employees, and board of directors. The FHLBank does not have any special purpose entities or any other type of off-balance sheet conduits. | |
The Office of Finance is a joint office of the FHLBanks established to facilitate the issuance and servicing of the debt instruments of the FHLBanks, known as Consolidated Obligations, and to prepare combined quarterly and annual financial reports of all 12 FHLBanks. As provided by the Federal Home Loan Bank Act of 1932, as amended (the FHLBank Act), or by Finance Agency regulation, the FHLBanks' Consolidated Obligations are backed only by the financial resources of the FHLBanks and are the primary source of funds for the FHLBanks. Deposits, other borrowings, and capital stock issued to members provide other funds. The FHLBank primarily uses its funds to provide Advances to members and to purchase loans from members through its Mortgage Purchase Program (MPP). The FHLBank also provides member institutions with correspondent services, such as wire transfer, security safekeeping, and settlement services. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |
Dec. 31, 2014 | ||
Accounting Policies [Abstract] | ||
Basis of Presentation and Summary of Significant Accounting Policies [Text Block] | Summary of Significant Accounting Policies | |
Basis of Presentation. The FHLBank's accounting and financial reporting policies conform to accounting principles generally accepted in the United States of America (GAAP). | ||
Cash Flows. In the Statements of Cash Flows, the FHLBank considers non-interest bearing cash and due from banks as cash and cash equivalents. Federal funds sold are not treated as cash equivalents for purposes of the Statements of Cash Flows, but are instead treated as short-term investments and are reflected in the investing activities section of the Statements of Cash Flows. | ||
Subsequent Events. 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. | ||
Use of Estimates. The preparation of financial statements in accordance with GAAP requires management to make subjective assumptions and estimates. These assumptions and estimates affect the reported amounts 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. | ||
Fair Values. Some of the FHLBank's financial instruments lack an available trading market with prices characterized as those that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. Therefore, the FHLBank uses pricing services and/or internal models employing significant estimates and present value calculations when disclosing fair values. See Note 19 for more information. | ||
Interest Bearing Deposits, Securities Purchased Under Agreements to Resell, and Federal Funds Sold. These investments provide short-term liquidity and are carried at cost. Interest bearing deposits include certificates of deposits (CDs) not meeting the definition of an investment security. The FHLBank treats securities purchased under agreements to resell as short-term collateralized loans, which are classified as assets in the Statements of Condition. Securities purchased under agreements to resell are held in safekeeping in the name of the FHLBank by third-party custodians approved by the FHLBank. If the market value of the underlying securities decrease below the market value required as collateral, the counterparty has the option to (1) place an equivalent amount of additional securities in safekeeping in the name of the FHLBank or (2) remit an equivalent amount of cash. Federal funds sold consist of short-term, unsecured loans generally transacted with counterparties that are considered by the FHLBank to be of investment quality. | ||
Investment Securities. The FHLBank classifies investment securities as trading, available-for-sale and held-to-maturity at the date of acquisition. Purchases and sales of securities are recorded on a trade date basis. | ||
Trading. Securities classified as trading are acquired for liquidity purposes and asset/liability management and carried at fair value. The FHLBank records changes in the fair value of these securities through other income as a net gain or loss on trading securities. However, the FHLBank does not participate in speculative trading practices and holds these investments indefinitely as management periodically evaluates its liquidity needs. | ||
Available-for-Sale. Securities that are not classified as held-to-maturity or trading are classified as available-for-sale and are carried at fair value. The change in fair value of available-for-sale securities is recorded in other comprehensive income as a net unrealized gain or loss on available-for-sale securities. | ||
Held-to-Maturity. Securities that the FHLBank has both the ability and intent to hold to maturity are classified as held-to-maturity and are carried at amortized cost, representing the amount at which an investment is acquired adjusted for periodic principal repayments, amortization of premiums and accretion of discounts. | ||
Certain changes in circumstances may cause the FHLBank to change its intent to hold a security to maturity without calling into question its intent to hold other debt securities to maturity in the future. Thus, the sale or transfer of a held-to-maturity security due to certain changes in circumstances, such as evidence of significant deterioration in the issuer's creditworthiness or changes in regulatory requirements, is not considered to be inconsistent with its original classification. Other events that are isolated, nonrecurring, and unusual for the FHLBank that could not have been reasonably anticipated may cause the FHLBank to sell or transfer a held-to-maturity security without necessarily calling into question its intent to hold other debt securities to maturity. | ||
In addition, sales of held-to-maturity debt securities that meet either of the following two conditions may be considered as maturities for purposes of the classification of securities: (1) the sale occurs near enough to the security's maturity date (or call date if exercise of the call is probable) that interest rate risk is substantially eliminated as a pricing factor and changes in market interest rates would not have a significant effect on the security's fair value, or (2) the sale of the security occurs after the FHLBank has already collected a substantial portion (at least 85 percent) of the principal outstanding at acquisition due either to prepayments on the security or to scheduled payments on the security payable in equal installments (both principal and interest) over its term. | ||
Premiums and Discounts. The FHLBank amortizes purchased premiums and accretes purchased discounts on mortgage-backed securities and other investment categories with a term of greater than one year using the retrospective level-yield method (retrospective method). The retrospective method requires that the FHLBank estimate prepayments over the estimated life of the securities and make a retrospective adjustment of the effective yield each time that the FHLBank changes the estimated life and/or prepayments as if the new estimate had been known since the original acquisition date of the securities. The FHLBank uses nationally recognized third-party prepayment models to project estimated cash flows. Due to their short term nature, the FHLBank amortizes premiums and accretes discounts on other investment categories with a term of one year or less using a straight-line methodology based on the contractual maturity of the securities. Analyses of the straight-line compared to the level-yield methodology have been performed by the FHLBank and it has determined that the impact of the difference on the financial statements for each period reported, taken individually and as a whole, is not material. | ||
Gains and Losses on Sales. The FHLBank computes gains and losses on sales of investment securities using the specific identification method and includes these gains and losses in other income. | ||
Investment Securities - Other-than-Temporary Impairment. The FHLBank evaluates its individual available-for-sale and held-to-maturity securities in an unrealized loss position for other-than-temporary impairment on a quarterly basis. A security is considered impaired when its fair value is less than its amortized cost. The FHLBank considers an other-than-temporary impairment to have occurred under any of the following circumstances: | ||
▪ | if the FHLBank has an intent to sell the impaired debt security; | |
▪ | if, based on available evidence, the FHLBank believes it is more likely than not that it will be required to sell the impaired debt security before the recovery of its amortized cost basis; or | |
▪ | if the FHLBank does not expect to recover the entire amortized cost basis of the debt security. | |
Recognition of Other-than-Temporary Impairment. If either of the first two conditions above is met, the FHLBank recognizes an other-than-temporary impairment charge in earnings equal to the entire difference between the security's amortized cost basis and its fair value as of the Statement of Condition date. For securities in an unrealized loss position that do not meet either of these conditions, the entire loss position, or total other-than-temporary impairment, is evaluated to determine the extent and amount of credit loss. | ||
Advances. The FHLBank reports Advances (loans to members, former members or housing associates) either at amortized cost or at fair value when the fair value option is elected. Advances carried at amortized cost are reported net of premiums, discounts (including discounts on Advances related to the Affordable Housing Program (AHP), as discussed below), unearned commitment fees and hedging adjustments. The FHLBank amortizes the premiums and accretes the discounts on Advances to interest income using a level-yield methodology. The FHLBank records interest on Advances to income as earned. For Advances carried at fair value, interest income is recognized based on the contractual interest rate. | ||
Advance Modifications. In cases in which the FHLBank funds a new Advance concurrent with or within a short period of time before or after the prepayment of an existing Advance, the FHLBank evaluates whether the new Advance meets the accounting criteria to qualify as a modification of an existing Advance or whether it constitutes a new Advance. The FHLBank compares the present value of cash flows on the new Advance to the present value of cash flows remaining on the existing Advance. If there is at least a 10 percent difference in the cash flows, or if the FHLBank concludes the differences between the Advances are more than minor based on qualitative factors, the Advance is accounted for as a new Advance. In all other instances, the new Advance is accounted for as a modification. | ||
Prepayment Fees. The FHLBank charges a borrower a prepayment fee when the borrower prepays certain Advances before the original maturity. The FHLBank records prepayment fees, net of basis adjustments related to hedging activities included in the carrying value of the Advances, as “Prepayment fees on Advances, net” in the interest income section of the Statements of Income. | ||
If a new Advance qualifies as a modification of the existing Advance, the net prepayment fee on the prepaid Advance is deferred, recorded in the basis of the modified Advance, and amortized/accreted using a level-yield methodology over the life of the modified Advance to Advance interest income. | ||
For prepaid Advances that are hedged and meet the hedge accounting requirements, the FHLBank terminates the hedging relationship upon prepayment and records the associated fair value gains and losses, adjusted for the prepayment fees, in interest income. If the FHLBank funds a new Advance to a member concurrent with or within a short period of time after the prepayment of a previous Advance to that member, the FHLBank evaluates whether the new Advance qualifies as a modification of the original hedged Advance. If the new Advance qualifies as a modification of the original hedged Advance, the fair value gains or losses of the Advance and the prepayment fees are included in the carrying amount of the modified Advance, and gains or losses and prepayment fees are amortized in interest income over the life of the modified Advance using a level-yield methodology. If the modified Advance also is hedged and the hedge meets the hedging criteria, the modified Advance is marked to fair value after the modification, and subsequent fair value changes are recorded in other income. | ||
If a new Advance does not qualify as a modification of an existing Advance, it is treated as an Advance termination with subsequent funding of a new Advance and the existing fees, net of related hedging adjustments, are recorded in interest income as “Prepayment fees on Advances, net.” | ||
The FHLBank defers commitment fees for Advances and amortizes them to interest income using a level-yield methodology. Refundable fees are deferred until the commitment expires or until the Advance is made. The FHLBank records commitment fees for Standby Letters of Credit as a deferred credit when it receives the fees and accretes them using a straight-line methodology over the term of the Standby Letter of Credit. Based upon past experience, the FHLBank's management believes that the likelihood of Standby Letters of Credit being drawn upon is remote. | ||
Mortgage Loans Held for Portfolio. The FHLBank classifies mortgage loans as held for portfolio and, accordingly, reports them at their principal amount outstanding net of unamortized premiums and discounts and mark-to-market basis adjustments on loans initially classified as mortgage loan commitments. The FHLBank has the intent and ability to hold these mortgage loans to maturity. | ||
Premiums and Discounts. The FHLBank defers and amortizes premiums and accretes discounts paid to and received by the FHLBank's participating members (Participating Financial Institutions, or PFIs) and mark-to-market basis adjustments, as interest income using the retrospective method. The FHLBank aggregates the mortgage loans by similar characteristics (type, maturity, note rate and acquisition date) in determining prepayment estimates for the retrospective method. | ||
Other Fees. The FHLBank may receive non-origination fees, called pair-off fees. Pair-off fees represent a make-whole provision and are assessed when a member fails to deliver the quantity of loans committed to in a Mandatory Delivery Contract. Pair-off fees are recorded in other income. A Mandatory Delivery Contract is a legal commitment the FHLBank makes to purchase, and a PFI makes to deliver, a specified dollar amount of mortgage loans, with a forward settlement date, at a specified range of mortgage note rates and prices. | ||
Allowance for Credit Losses. An allowance for credit losses is separately established for each identified portfolio segment, if it is probable that a loss triggering event has occurred in the FHLBank's portfolio as of the Statements of Condition date and the amount of loss can be reasonably estimated. To the extent necessary, an allowance for credit losses for off-balance sheet credit exposures is recorded as a liability. See Note 10 for details on each allowance methodology. | ||
Portfolio Segments. A portfolio segment is defined as the level at which an entity develops and documents a systematic methodology for determining its allowance for credit losses. The FHLBank has developed and documented a systematic methodology for determining an allowance for credit losses, where applicable, for (1) Advances, letters of credit and other extensions of credit to members, collectively referred to as “credit products”; (2) Federal Housing Administration mortgage loans held for portfolio; and (3) conventional mortgage loans held for portfolio. | ||
Classes of Financing Receivables. Classes of financing receivables generally are a disaggregation of a portfolio segment to the extent needed to understand the exposure to credit risk arising from these financing receivables. The FHLBank determined that no further disaggregation of the portfolio segments identified above is needed as the credit risk arising from these financing receivables is assessed and measured by the FHLBank at the portfolio segment level. | ||
Impairment Methodology. A loan is considered impaired when, based on current information and events, it is probable that the FHLBank will be unable to collect all amounts due according to the contractual terms of the loan agreement. | ||
Loans that are on non-accrual status and that are considered collateral-dependent are measured for impairment based on the fair value of the underlying property (net of estimated selling costs) and the amount of applicable credit enhancements. Loans are considered collateral-dependent if repayment is expected to be provided solely by the sale of the underlying property, that is, there is no other available and reliable source of repayment. Collateral-dependent loans are impaired if the fair value of the underlying collateral is insufficient to recover the unpaid principal balance on the loan. Interest income on impaired loans is recognized in the same manner as non-accrual loans noted below. | ||
Non-accrual Loans. The FHLBank places a conventional mortgage loan on non-accrual status if it is determined that either (1) the collection of interest or principal is doubtful (e.g., when a related allowance for credit losses is recorded on a loan considered to be a troubled debt restructuring as a result of the individual evaluation for impairment), or (2) interest or principal is past due for 90 days or more, except when the loan is well-secured and in the process of collection (e.g., through credit enhancements and with monthly settlements on a schedule/scheduled basis). Loans with settlements on a schedule/scheduled basis means the FHLBank receives monthly principal and interest payments from the servicer regardless of whether the mortgagee is making payments to the servicer. Loans with monthly settlement on an actual/actual basis are considered well-secured; however, servicers of actual/actual loan types contractually do not advance principal and interest regardless of borrower creditworthiness. As a result, these loans are placed on non-accrual status once they become 90 days delinquent. | ||
For those mortgage loans placed on non-accrual status, accrued but uncollected interest is reversed against interest income. The FHLBank records cash payments received on non-accrual loans first as interest income and then as a reduction of principal as specified in the contractual agreement, unless the collection of the remaining principal amount due is considered doubtful. If the collection of the remaining principal amount due is considered doubtful, cash payments received are applied first solely to principal until the remaining principal amount due is expected to be collected and then as a recovery of any charge-off, if applicable, followed by recording interest income. A loan on non-accrual status may be restored to accrual status when (1) none of its contractual principal and interest is due and unpaid, and the FHLBank expects repayment of the remaining contractual interest and principal, or (2) it otherwise becomes well secured and in the process of collection. | ||
Charge-off Policy. The FHLBank evaluates whether to record a charge-off on a conventional mortgage loan upon the occurrence of a confirming event. Confirming events include, but are not limited to, the occurrence of foreclosure or notification of a claim against any of the credit enhancements. A charge-off is recorded if the recorded investment in the loan will not be recovered. | ||
Premises, Software and Equipment, Net. The FHLBank records premises, software and equipment at cost less accumulated depreciation and amortization. The FHLBank's accumulated depreciation and amortization related to these items was $18,556,000 and $19,161,000 at December 31, 2014 and 2013. The FHLBank computes depreciation on a straight-line methodology over the estimated useful lives of assets ranging from three to ten years. The FHLBank amortizes leasehold improvements on a straight-line basis over the shorter of the estimated useful life of the improvement or the remaining term of the lease. The FHLBank capitalizes improvements and major renewals but expenses ordinary maintenance and repairs when incurred. Depreciation and amortization expense for premises, software and equipment was $3,108,000, $2,549,000, and $2,176,000 for the years ended December 31, 2014, 2013, and 2012. | ||
The FHLBank includes gains and losses on disposal of premises, software and equipment in other income. The net realized (loss) gain on disposal of premises, software and equipment was $(106,000), $13,000, and $(3,000) for the years ended December 31, 2014, 2013, and 2012. | ||
The cost of computer software developed or obtained for internal use is capitalized and amortized over future periods. As of December 31, 2014 and 2013, the FHLBank had $6,659,000 and $8,677,000 in unamortized computer software costs. Amortization of computer software costs charged to expense was $2,433,000, $1,814,000, and $1,528,000 for the years ended December 31, 2014, 2013, and 2012. | ||
Derivatives. All derivatives are recognized on the Statements of Condition at their fair values and are reported as either derivative assets or derivative liabilities, net of cash collateral and accrued interest from counterparties. The fair values of derivatives are netted by counterparty when the netting arrangements have been met. If these netted amounts are positive, they are classified as an asset and, if negative, they are classified as a liability. Cash flows associated with derivatives are reflected as cash flows from operating activities in the Statement of Cash Flows unless the derivative meets the criteria to be a financing derivative. | ||
Derivative Designations. Each derivative is designated as one of the following: | ||
1 | a qualifying hedge of the fair value of a recognized asset or liability or an unrecognized firm commitment (a "fair value" hedge); or | |
2 | a non-qualifying hedge (“economic hedge”) for asset/liability management purposes. | |
Accounting for Fair Value Hedges. If hedging relationships meet certain criteria including, but not limited to, formal documentation of the hedging relationship and an expectation to be highly effective, they are eligible for fair value hedge accounting and the offsetting changes in fair value of the hedged items attributable to the hedged risk may be recorded in earnings. The application of hedge accounting generally requires the FHLBank to evaluate the effectiveness of the hedging relationships at inception and on an ongoing basis and to calculate the changes in fair value of the derivatives and related hedged items independently. This is known as the “long-haul” method of accounting. Transactions that meet more stringent criteria qualify for the “shortcut” method of hedge accounting in which an assumption can be made that the change in fair value of a hedged item exactly offsets the change in value of the related derivative. The FHLBank discontinued use of the shortcut method effective July 1, 2009 for all new hedging relationships. | ||
Derivatives are typically executed at the same time as the hedged Advances or Consolidated Obligations and the FHLBank designates the hedged item in a qualifying hedge relationship as of the trade date. In many hedging relationships, the FHLBank may designate the hedging relationship upon its commitment to disburse an Advance or trade a Consolidated Obligation in which settlement occurs within the shortest period of time possible for the type of instrument based on market settlement conventions. The FHLBank records the changes in fair value of the derivative and the hedged item beginning on the trade date. | ||
Changes in the fair value of a derivative that is designated and qualifies as a fair value hedge, along with changes in the fair value of the hedged asset or liability that are attributable to the hedged risk, are recorded in other income as “Net gains on derivatives and hedging activities.” | ||
Accounting for Economic Hedges. An economic hedge is defined as a derivative hedging specific or non-specific underlying assets, liabilities, or firm commitments that does not qualify, or was not designated, for hedge accounting, but is an acceptable hedging strategy under the FHLBank's risk management program. These economic hedging strategies also comply with Finance Agency regulatory requirements prohibiting speculative hedge transactions. An economic hedge by definition introduces the potential for earnings variability caused by the changes in fair value of the derivatives that are recorded in the FHLBank's income but that are not offset by corresponding changes in the value of the economically hedged assets, liabilities, or firm commitments. As a result, the FHLBank recognizes only the change in fair value of these derivatives in other income as “Net gains on derivatives and hedging activities” with no offsetting fair value adjustments for the assets, liabilities, or firm commitments. | ||
The difference between accruals of interest receivables and payables on derivatives that are designated as fair value hedge relationships is recognized as adjustments to the interest income or expense of the designated hedged item. The differentials between accruals of interest receivables and payables on economic hedges are recognized in other income as “Net gains on derivatives and hedging activities.” | ||
Embedded Derivatives. The FHLBank may issue debt, make Advances, or purchase financial instruments in which a derivative instrument is “embedded.” Upon execution of these transactions, the FHLBank assesses whether the economic characteristics of the embedded derivative are clearly and closely related to the economic characteristics of the remaining component of the Advance, debt, or purchased financial instrument (the host contract) and whether a separate, non-embedded instrument with the same terms as the embedded instrument would meet the definition of a derivative instrument. When the FHLBank determines that (1) the embedded derivative has economic characteristics that are not clearly and closely related to the economic characteristics of the host contract and (2) a separate, stand-alone instrument with the same terms would qualify as a derivative instrument, the embedded derivative is separated from the host contract, carried at fair value, and designated as a stand-alone derivative instrument pursuant to an economic hedge. However, the entire contract is carried at fair value and no portion of the contract is designated as a hedging instrument if the entire contract (the host contract and the embedded derivative) is to be measured at fair value, with changes in fair value reported in current-period earnings (such as an investment security classified as “trading” as well as hybrid financial instruments that are selected for the fair value option), or if the FHLBank cannot reliably identify and measure the embedded derivative for purposes of separating that derivative from its host contract. | ||
Discontinuance of Hedge Accounting. The FHLBank discontinues hedge accounting prospectively when: (1) it determines that the derivative is no longer effective in offsetting changes in the fair value of a hedged item attributable to the hedged risk; (2) the derivative and/or the hedged item expires or is sold, terminated, or exercised; or (3) management determines that designating the derivative as a hedging instrument is no longer appropriate. | ||
When hedge accounting is discontinued because the FHLBank determines that the derivative no longer qualifies as an effective fair value hedge of an existing hedged item, the FHLBank continues to carry the derivative on the Statements of Condition at its fair value, ceases to adjust the hedged asset or liability for changes in fair value, and amortizes the cumulative basis adjustment on the hedged item into earnings over the remaining life of the hedged item using a level-yield methodology. | ||
Consolidated Obligations. Consolidated Obligations are recorded at amortized cost unless the FHLBank has elected the fair value option, in which case the Consolidated Obligations are carried at fair value. | ||
Concessions. Dealers receive concessions in connection with the issuance of certain Consolidated Obligations. The Office of Finance prorates the amount of the concession to the FHLBank based upon the percentage of the debt issued that is assumed by the FHLBank. Concessions paid on Consolidated Obligations designated under the fair value option are expensed as incurred in other non-interest expense. Concessions paid on Consolidated Obligation Bonds not designated under the fair value option are deferred and amortized, using a level-yield methodology, over the terms to maturity or the expected lives of the Consolidated Obligation Bonds. Unamortized concessions are included in “Other assets,” and the amortization of those concessions is included in Consolidated Obligation Bond interest expense. | ||
The FHLBank charges to expense as incurred the concessions applicable to Consolidated Obligation Discount Notes because of the short maturities of these Notes. Analyses of expensing concessions as incurred compared to a level-yield methodology have been performed by the FHLBank and it has determined that the impact of the difference on the financial statements for each period reported, taken individually and as a whole, is not material. | ||
Discounts and Premiums. The FHLBank accretes the discounts and amortizes the premiums on Consolidated Obligation Bonds to interest expense using a level-yield methodology over the terms to maturity or estimated lives of the corresponding Consolidated Obligation Bonds. Due to their short-term nature, it expenses the discounts on Consolidated Obligation Discount Notes using a straight-line methodology over the term of the Notes. Analyses of a straight-line compared to a level-yield methodology have been performed by the FHLBank, and the FHLBank has determined that the impact of the difference on the financial statements for each period reported, taken individually and as a whole, is not material. | ||
Mandatorily Redeemable Capital Stock. The FHLBank reclassifies stock subject to redemption from equity to liability upon expiration of the “grace period” after a member provides written notice of redemption, gives notice of intent to withdraw from membership, or attains nonmember status by merger or acquisition, charter termination, or involuntary termination from membership, because the member shares then meet the definition of a mandatorily redeemable financial instrument. Shares meeting this definition are reclassified to a liability at fair value. Dividends declared on shares classified as a liability are accrued at the expected dividend rate and reflected as interest expense in the Statements of Income. The repurchase or redemption of mandatorily redeemable capital stock is reflected as a cash outflow in the financing activities section of the Statements of Cash Flows. | ||
If a member cancels its written notice of redemption or notice of withdrawal, the FHLBank reclassifies the mandatorily redeemable capital stock from a liability to equity. After the reclassification, dividends on the capital stock are no longer classified as interest expense. | ||
Employee Benefit Plans. The FHLBank records the periodic benefit cost associated with its employee retirement plans and its contributions associated with its defined contribution plans as compensation and benefits expense in the Statements of Income. | ||
Restricted Retained Earnings. In 2011, the 12 FHLBanks entered into a Joint Capital Enhancement Agreement, as amended (Capital Agreement). Under the Capital Agreement, beginning in the third quarter of 2011, the FHLBank contributes 20 percent of its quarterly net income to a separate restricted retained earnings account until the account balance equals at least one percent of the FHLBank's average balance of outstanding Consolidated Obligations for the previous quarter. These restricted retained earnings are not available to pay dividends and are presented separately on the Statements of Condition. | ||
Finance Agency Expenses. The FHLBank funds its proportionate share of the costs of operating the Finance Agency. The portion of the Finance Agency's expenses and working capital fund paid by each FHLBank has been allocated based on the FHLBank's pro rata share of total annual assessments (which are based on the ratio between each FHLBank's minimum required regulatory capital and the aggregate minimum required regulatory capital of every FHLBank). | ||
Office of Finance Expenses. The FHLBank is assessed for its proportionate share of the costs of operating the Office of Finance. Each FHLBank's proportionate share of Office of Finance operating and capital expenditures is calculated using a formula that is based upon the following components: (1) two-thirds based upon each FHLBank's share of total Consolidated Obligations outstanding and (2) one-third based upon an equal pro rata allocation. | ||
Voluntary Housing Programs. The FHLBank classifies amounts awarded under its voluntary housing programs as other expenses. | ||
Affordable Housing Program (AHP). The FHLBank Act requires each FHLBank to establish and fund an AHP. The FHLBank charges the required funding for AHP to earnings and establishes a liability. The AHP funds provide subsidies to members to assist in the purchase, construction, or rehabilitation of housing for very low-, low-, and moderate-income households. The FHLBank issues AHP Advances at interest rates below the customary interest rate for non-subsidized Advances. When the FHLBank makes an AHP Advance, the present value of the variation in the cash flow caused by the difference in the interest rate between the AHP Advance rate and the FHLBank's related cost of funds for comparable maturity funding is charged against the AHP liability and recorded as a discount on the AHP Advance. As an alternative, the FHLBank also has the authority to make the AHP subsidy available to members as a grant. The discount on AHP Advances is accreted to interest income on Advances using a level-yield methodology over the life of the Advance. |
Recently_Issued_Accounting_Sta
Recently Issued Accounting Standards and Interpretations | 12 Months Ended |
Dec. 31, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recently Issued Accounting Standards and Interpretations [Text Block] | Recently Issued Accounting Standards and Interpretations |
Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure. On August 8, 2014, the Financial Accounting Standards Board (FASB) issued amended guidance relating to the classification and measurement of certain government-guaranteed mortgage loans upon foreclosure. The amendments in this guidance require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if certain conditions are met. This guidance became effective for the FHLBank for the interim and annual periods beginning on January 1, 2015, and was adopted prospectively. The adoption of this guidance will not have a material effect on the FHLBank's financial condition, results of operations, or cash flows. | |
Repurchase-to Maturity Transactions, Repurchase Financings, and Disclosures. On June 12, 2014, the FASB issued amended guidance for repurchase-to-maturity transactions and repurchase agreements executed as repurchase financings. This amendment requires secured borrowing accounting treatment for repurchase-to-maturity transactions and provides guidance on accounting for repurchase financing arrangements. In addition, this guidance requires additional disclosures, particularly on transfers accounted for as sales that are economically similar to repurchase agreements and on the nature of collateral pledged in repurchase agreements accounted for as secured borrowings. This guidance became effective for the FHLBank for interim and annual periods beginning on January 1, 2015. The changes in accounting for transactions outstanding on the effective date were presented as a cumulative-effect adjustment to retained earnings as of January 1, 2015. The adoption of this guidance will not have a material effect on the FHLBank's financial condition, results of operations, or cash flows. | |
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 became effective for the FHLBank for interim and annual periods beginning on January 1, 2015, and was adopted prospectively. The adoption of this guidance will not have a material effect on 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 were implemented on January 1, 2015. The adoption of these requirements will not have a material effect on the FHLBank's financial condition, results of operations, or cash flows. |
Cash_and_Due_from_Banks_Notes
Cash and Due from Banks (Notes) | 12 Months Ended |
Dec. 31, 2014 | |
Cash and Due from Banks [Abstract] | |
Cash and Cash Equivalents Disclosure [Text Block] | Cash and Due from Banks |
Compensating Balances. The FHLBank maintains collected cash balances with commercial banks in return for certain services. These agreements contain no legal restrictions on the withdrawal of funds. The average collected cash balances for the years ended December 31, 2014 and 2013 were approximately $77,000 and $68,000. | |
Pass-through Deposit Reserves. The FHLBank acts as a pass-through correspondent for member institutions required to deposit reserves with the Federal Reserve Banks. The amount shown as “Cash and due from banks” includes pass-through reserves deposited with Federal Reserve Banks of approximately $298,000 and $15,884,000 as of December 31, 2014 and 2013. |
Trading_Securities
Trading Securities | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Trading Securities [Abstract] | ||||||||||||
Trading Securities [Text Block] | Trading Securities | |||||||||||
Table 4.1 - Trading Securities by Major Security Types (in thousands) | ||||||||||||
Fair Value | December 31, 2014 | December 31, 2013 | ||||||||||
Mortgage-backed securities: | ||||||||||||
Other U.S. obligation single-family mortgage-backed securities (1) | $ | 1,341 | $ | 1,578 | ||||||||
Total | $ | 1,341 | $ | 1,578 | ||||||||
-1 | Consists of Government National Mortgage Association (Ginnie Mae) mortgage-backed securities. | |||||||||||
Table 4.2 - Net Losses on Trading Securities (in thousands) | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Net (losses) gains on trading securities held at period end | $ | (9 | ) | $ | (19 | ) | $ | 8 | ||||
Net losses on securities matured during the period | — | — | (32,778 | ) | ||||||||
Net losses on trading securities | $ | (9 | ) | $ | (19 | ) | $ | (32,770 | ) |
AvailableforSale_Securities
Available-for-Sale Securities | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Available-for-sale Securities [Abstract] | ||||||||||||||||
Available for sale Securities [Text Block] | Available-for-Sale Securities | |||||||||||||||
Table 5.1 - Available-for-Sale Securities by Major Security Types (in thousands) | ||||||||||||||||
December 31, 2014 | ||||||||||||||||
Amortized | Gross | Gross | Fair | |||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||
Gains | (Losses) | |||||||||||||||
Certificates of deposit | $ | 1,350,001 | $ | 3 | $ | (27 | ) | $ | 1,349,977 | |||||||
Total | $ | 1,350,001 | $ | 3 | $ | (27 | ) | $ | 1,349,977 | |||||||
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 December 31, 2014 have been in a continuous unrealized loss position for less than 12 months. | ||||||||||||||||
Table 5.2 - Available-for-Sale Securities by Contractual Maturity (in thousands) | ||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||
Year of Maturity | Amortized | Fair | Amortized | Fair | ||||||||||||
Cost | Value | Cost | Value | |||||||||||||
Due in one year or less | $ | 1,350,001 | $ | 1,349,977 | $ | 2,185,000 | $ | 2,184,879 | ||||||||
Table 5.3 - Interest Rate Payment Terms of Available-for-Sale Securities (in thousands) | ||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||
Amortized cost of available-for-sale securities: | ||||||||||||||||
Fixed-rate | $ | 1,350,001 | $ | 2,185,000 | ||||||||||||
Realized Gains and Losses. The FHLBank had no sales of securities out of its available-for-sale portfolio for the years ended December 31, 2014, 2013 or 2012. |
HeldtoMaturity_Securities
Held-to-Maturity Securities | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Held-to-maturity Securities, Unclassified [Abstract] | ||||||||||||||||||||||||
Held to Maturity Securities [Text Block] | Held-to-Maturity Securities | |||||||||||||||||||||||
Table 6.1 - Held-to-Maturity Securities by Major Security Types (in thousands) | ||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||
Amortized Cost (1) | Gross Unrecognized Holding | Gross Unrecognized Holding (Losses) | Fair Value | |||||||||||||||||||||
Gains | ||||||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||||
Government-sponsored enterprises (GSE) (2) | $ | 26,099 | $ | — | $ | — | $ | 26,099 | ||||||||||||||||
Total non-mortgage-backed securities | 26,099 | — | — | 26,099 | ||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||
Other U.S. obligation single-family | 2,038,960 | 10,021 | (1,017 | ) | 2,047,964 | |||||||||||||||||||
mortgage-backed securities (3) | ||||||||||||||||||||||||
GSE single-family mortgage-backed securities (4) | 12,647,212 | 191,870 | (118,819 | ) | 12,720,263 | |||||||||||||||||||
Total mortgage-backed securities | 14,686,172 | 201,891 | (119,836 | ) | 14,768,227 | |||||||||||||||||||
Total | $ | 14,712,271 | $ | 201,891 | $ | (119,836 | ) | $ | 14,794,326 | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Amortized Cost (1) | Gross Unrecognized Holding | Gross Unrecognized Holding (Losses) | Fair Value | |||||||||||||||||||||
Gains | ||||||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||||
GSE (2) | $ | 27,485 | $ | 1 | $ | — | $ | 27,486 | ||||||||||||||||
Total non-mortgage-backed securities | 27,485 | 1 | — | 27,486 | ||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||
Other U.S. obligation single-family | 1,909,099 | 4,545 | (26,396 | ) | 1,887,248 | |||||||||||||||||||
mortgage-backed securities (3) | ||||||||||||||||||||||||
GSE single-family mortgage-backed securities (4) | 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 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. | |||||||||||||||||||||||
-3 | 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. | |||||||||||||||||||||||
-4 | 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 6.2 - Net Purchased Discounts Included in the Amortized Cost of Mortgage-backed Securities Classified as Held-to-Maturity (in thousands) | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Premiums | $ | 24,473 | $ | 32,458 | ||||||||||||||||||||
Discounts | (51,357 | ) | (58,658 | ) | ||||||||||||||||||||
Net purchased discounts | $ | (26,884 | ) | $ | (26,200 | ) | ||||||||||||||||||
Table 6.3 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 6.3 - Held-to-Maturity Securities in a Continuous Unrealized Loss Position (in thousands) | ||||||||||||||||||||||||
December 31, 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 single-family | $ | — | $ | — | $ | 197,625 | $ | (1,017 | ) | $ | 197,625 | $ | (1,017 | ) | ||||||||||
mortgage-backed securities (1) | ||||||||||||||||||||||||
GSE single-family mortgage-backed securities (2) | 631,907 | (1,348 | ) | 5,555,049 | (117,471 | ) | 6,186,956 | (118,819 | ) | |||||||||||||||
Total | $ | 631,907 | $ | (1,348 | ) | $ | 5,752,674 | $ | (118,488 | ) | $ | 6,384,581 | $ | (119,836 | ) | |||||||||
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 single-family | $ | 663,278 | $ | (26,396 | ) | $ | — | $ | — | $ | 663,278 | $ | (26,396 | ) | ||||||||||
mortgage-backed securities (1) | ||||||||||||||||||||||||
GSE single-family 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 6.4 - Held-to-Maturity Securities by Contractual Maturity (in thousands) | ||||||||||||||||||||||||
December 31, 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 | $ | 26,099 | $ | 26,099 | $ | 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 | 26,099 | 26,099 | 27,485 | 27,486 | ||||||||||||||||||||
Mortgage-backed securities (2) | 14,686,172 | 14,768,227 | 16,059,677 | 15,780,911 | ||||||||||||||||||||
Total | $ | 14,712,271 | $ | 14,794,326 | $ | 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 6.5 - Interest Rate Payment Terms of Held-to-Maturity Securities (in thousands) | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Amortized cost of non-mortgage-backed securities: | ||||||||||||||||||||||||
Fixed-rate | $ | 26,099 | $ | 27,485 | ||||||||||||||||||||
Total amortized cost of non-mortgage-backed securities | 26,099 | 27,485 | ||||||||||||||||||||||
Amortized cost of mortgage-backed securities: | ||||||||||||||||||||||||
Fixed-rate | 12,091,591 | 13,048,808 | ||||||||||||||||||||||
Variable-rate | 2,594,581 | 3,010,869 | ||||||||||||||||||||||
Total amortized cost of mortgage-backed securities | 14,686,172 | 16,059,677 | ||||||||||||||||||||||
Total | $ | 14,712,271 | $ | 16,087,162 | ||||||||||||||||||||
Realized Gains and Losses. The FHLBank sold securities out of its held-to-maturity portfolio during the periods noted below in Table 6.6, each of which had 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. | ||||||||||||||||||||||||
Table 6.6 - Proceeds from Sale and Gains on Held-to-Maturity Securities (in thousands) | ||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Proceeds from sale of held-to-maturity securities | $ | — | $ | — | $ | 507,531 | ||||||||||||||||||
Gross gains from sale of held-to-maturity securities | — | — | 29,292 | |||||||||||||||||||||
OtherThanTemporary_Impairment_
Other-Than-Temporary Impairment Analysis | 12 Months Ended |
Dec. 31, 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. | |
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 December 31, 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 December 31, 2014. | |
The FHLBank also reviewed its available-for-sale securities that have experienced unrealized losses at December 31, 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 December 31, 2014. | |
The FHLBank did not consider any of its investments to be other-than-temporarily impaired at December 31, 2013. |
Advances
Advances | 12 Months Ended | ||||||||||||||
Dec. 31, 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. Fixed-rate Advances generally have maturities ranging from one day to 30 years. Variable-rate advances generally have maturities ranging from less than 30 days to 10 years, where the interest rates reset periodically at a fixed spread to the London Interbank Offered Rate (LIBOR) or other specified index. At December 31, 2014 and 2013, the FHLBank had Advances outstanding, including AHP Advances (see Note 14), 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 8.1 - Advance Redemption Terms (dollars in thousands) | |||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Redemption Term | Amount | Weighted Average Interest | Amount | Weighted Average Interest | |||||||||||
Rate | Rate | ||||||||||||||
Overdrawn demand deposit accounts | $ | — | — | % | $ | 150 | 0.2 | % | |||||||
Due in 1 year or less | 14,139,630 | 0.4 | 17,729,350 | 0.42 | |||||||||||
Due after 1 year through 2 years | 14,810,847 | 0.54 | 6,614,470 | 0.63 | |||||||||||
Due after 2 years through 3 years | 12,829,760 | 0.69 | 9,485,558 | 0.64 | |||||||||||
Due after 3 years through 4 years | 14,222,722 | 0.6 | 9,444,110 | 0.81 | |||||||||||
Due after 4 years through 5 years | 10,724,619 | 0.54 | 11,831,887 | 0.61 | |||||||||||
Thereafter | 3,570,929 | 1.51 | 9,987,245 | 0.78 | |||||||||||
Total par value | 70,298,507 | 0.6 | 65,092,770 | 0.62 | |||||||||||
Commitment fees | (699 | ) | (750 | ) | |||||||||||
Discount on AHP Advances | (12,110 | ) | (14,953 | ) | |||||||||||
Premiums | 3,058 | 3,413 | |||||||||||||
Discounts | (12,572 | ) | (14,104 | ) | |||||||||||
Hedging adjustments | 129,390 | 204,014 | |||||||||||||
Fair value option valuation adjustments and accrued interest | 42 | — | |||||||||||||
Total | $ | 70,405,616 | $ | 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). 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 December 31, 2014 and 2013, the FHLBank had callable Advances (in thousands) of $15,098,357 and $10,072,203. | |||||||||||||||
Table 8.2 - Advances by Year of Contractual Maturity or Next Call Date for Callable Advances (in thousands) | |||||||||||||||
Year of Contractual Maturity or Next Call Date | December 31, 2014 | December 31, 2013 | |||||||||||||
Overdrawn demand deposit accounts | $ | — | $ | 150 | |||||||||||
Due in 1 year or less | 23,003,946 | 25,109,451 | |||||||||||||
Due after 1 year through 2 years | 12,159,384 | 5,300,184 | |||||||||||||
Due after 2 years through 3 years | 9,659,975 | 7,149,237 | |||||||||||||
Due after 3 years through 4 years | 12,295,893 | 7,050,325 | |||||||||||||
Due after 4 years through 5 years | 9,970,280 | 10,877,078 | |||||||||||||
Thereafter | 3,209,029 | 9,606,345 | |||||||||||||
Total par value | $ | 70,298,507 | $ | 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 December 31, 2014 and 2013, the FHLBank had putable Advances, excluding those where the related put options have expired, totaling (in thousands) $1,617,400 and $2,146,400. | |||||||||||||||
Table 8.3 - Advances by Year of Contractual Maturity or Next Put/Convert Date for Putable/Convertible Advances (in thousands) | |||||||||||||||
Year of Contractual Maturity or Next Put/Convert Date | December 31, 2014 | December 31, 2013 | |||||||||||||
Overdrawn demand deposit accounts | $ | — | $ | 150 | |||||||||||
Due in 1 year or less | 15,753,030 | 19,681,750 | |||||||||||||
Due after 1 year through 2 years | 14,663,847 | 6,424,970 | |||||||||||||
Due after 2 years through 3 years | 12,115,860 | 9,338,558 | |||||||||||||
Due after 3 years through 4 years | 13,649,722 | 8,582,710 | |||||||||||||
Due after 4 years through 5 years | 10,715,119 | 11,256,887 | |||||||||||||
Thereafter | 3,400,929 | 9,807,745 | |||||||||||||
Total par value | $ | 70,298,507 | $ | 65,092,770 | |||||||||||
Table 8.4 - Advances by Interest Rate Payment Terms (in thousands) | |||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Fixed-rate (1) | |||||||||||||||
Due in one year or less | $ | 8,638,946 | $ | 6,706,181 | |||||||||||
Due after one year | 9,306,104 | 8,774,636 | |||||||||||||
Total fixed-rate (1) | 17,945,050 | 15,480,817 | |||||||||||||
Variable-rate (1) | |||||||||||||||
Due in one year or less | 5,500,684 | 10,580,389 | |||||||||||||
Due after one year | 46,852,773 | 39,031,564 | |||||||||||||
Total variable-rate (1) | 52,353,457 | 49,611,953 | |||||||||||||
Total par value | $ | 70,298,507 | $ | 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. | ||||||||||||||
Credit Risk Exposure and Security Terms. The FHLBank's potential credit risk from Advances is concentrated in commercial banks and insurance companies. The FHLBank's Advances outstanding that were greater than or equal to $1.0 billion per borrower were $56.6 billion (80.5 percent) and $51.6 billion (79.3 percent) at December 31, 2014 and 2013, respectively. These Advances were made to 6 borrowers (members and former members) at December 31, 2014 and 2013. See Note 10 for information related to the FHLBank's credit risk on Advances and allowance methodology for credit losses. | |||||||||||||||
Table 8.5 - Borrowers Holding Five Percent or more of Total Advances, Including Any Known Affiliates that are Members of the FHLBank (dollars in millions) | |||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Principal | % of Total | Principal | % of Total | ||||||||||||
JPMorgan Chase Bank, N.A. | $ | 41,300 | 59 | % | JPMorgan Chase Bank, N.A. | $ | 41,700 | 64 | % | ||||||
U.S. Bank, N.A. | 8,338 | 12 | U.S. Bank, N.A. | 4,584 | 7 | ||||||||||
Total | $ | 49,638 | 71 | % | Total | $ | 46,284 | 71 | % | ||||||
Mortgage_Loans_Held_for_Portfo
Mortgage Loans Held for Portfolio | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Mortgage Loans on Real Estate [Abstract] | |||||||||||||||
Mortgage Loans Held for Portfolio [Text Block] | Mortgage Loans Held for Portfolio | ||||||||||||||
Total mortgage loans held for portfolio represent residential mortgage loans under the MPP that the FHLBank's members originate, credit enhance, and then sell to the FHLBank. The FHLBank does not service any of these loans. The FHLBank plans to retain its existing portfolio of mortgage loans. | |||||||||||||||
Table 9.1 - Mortgage Loans Held for Portfolio (in thousands) | |||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Unpaid principal balance: | |||||||||||||||
Fixed rate medium-term single-family mortgage loans (1) | $ | 1,393,525 | $ | 1,482,345 | |||||||||||
Fixed rate long-term single-family mortgage loans | 5,402,479 | 5,160,854 | |||||||||||||
Total unpaid principal balance | 6,796,004 | 6,643,199 | |||||||||||||
Premiums | 179,540 | 177,180 | |||||||||||||
Discounts | (2,460 | ) | (3,631 | ) | |||||||||||
Hedging basis adjustments (2) | 16,518 | 8,775 | |||||||||||||
Total mortgage loans held for portfolio | $ | 6,989,602 | $ | 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 9.2 - Mortgage Loans Held for Portfolio by Collateral/Guarantee Type (in thousands) | |||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Unpaid principal balance: | |||||||||||||||
Conventional mortgage loans | $ | 6,203,318 | $ | 5,897,804 | |||||||||||
Federal Housing Administration (FHA) mortgage loans | 592,686 | 745,395 | |||||||||||||
Total unpaid principal balance | $ | 6,796,004 | $ | 6,643,199 | |||||||||||
For information related to the FHLBank's credit risk on mortgage loans and allowance for credit losses, see Note 10. | |||||||||||||||
Table 9.3 - 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) | |||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Principal | % of Total | Principal | % of Total | ||||||||||||
Union Savings Bank | $ | 1,593 | 23 | % | Union Savings Bank | $ | 1,433 | 22 | % | ||||||
PNC Bank, N.A.(1) | 1,074 | 16 | PNC Bank, N.A. (1) | 1,356 | 20 | ||||||||||
Guardian Savings Bank FSB | 406 | 6 | |||||||||||||
-1 | Former member. |
Allowance_for_Credit_Losses
Allowance for Credit Losses | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 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 (Advances, Letters of Credit and other extensions of credit to members); 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 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 are eligible to utilize expanded statutory collateral provisions for small business and agriculture loans. The FHLBank's capital stock owned by its member borrowers 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 December 31, 2014 and 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 December 31, 2014 and 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 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 December 31, 2014 or 2013. Accordingly, the FHLBank did not record any allowance for credit losses on Advances. | ||||||||||||||||||||||||
At December 31, 2014 and 2013, no liability to reflect an allowance for credit losses for off-balance sheet credit exposures was recorded. See Note 20 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. Therefore, the FHLBank only has credit risk for these loans if the seller or servicer fails to pay for losses not covered by the FHA 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 available credit enhancements. 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 10.1 - Rollforward of Allowance for Credit Losses on Conventional Mortgage Loans (in thousands) | ||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Balance, beginning of period | $ | 7,233 | $ | 17,907 | $ | 20,750 | ||||||||||||||||||
Charge-offs | (1,814 | ) | (3,224 | ) | (4,302 | ) | ||||||||||||||||||
(Reversal) provision for credit losses | (500 | ) | (7,450 | ) | 1,459 | |||||||||||||||||||
Balance, end of period | $ | 4,919 | $ | 7,233 | $ | 17,907 | ||||||||||||||||||
Table 10.2 - Allowance for Credit Losses and Recorded Investment on Conventional Mortgage Loans by Impairment Methodology (in thousands) | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Allowance for credit losses, end of period: | ||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 4,766 | $ | 7,159 | ||||||||||||||||||||
Individually evaluated for impairment | 153 | 74 | ||||||||||||||||||||||
Total | $ | 4,919 | $ | 7,233 | ||||||||||||||||||||
Recorded investment, end of period: | ||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 6,402,994 | $ | 6,082,636 | ||||||||||||||||||||
Individually evaluated for impairment | 8,639 | 7,799 | ||||||||||||||||||||||
Total recorded investment | $ | 6,411,633 | $ | 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 10.3 - Changes in the LRA (in thousands) | ||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
LRA at beginning of year | $ | 115,236 | $ | 102,680 | $ | 68,684 | ||||||||||||||||||
Additions | 18,947 | 18,331 | 39,111 | |||||||||||||||||||||
Claims | (2,075 | ) | (4,118 | ) | (3,409 | ) | ||||||||||||||||||
Scheduled distributions | (2,895 | ) | (1,657 | ) | (1,706 | ) | ||||||||||||||||||
LRA at end of period | $ | 129,213 | $ | 115,236 | $ | 102,680 | ||||||||||||||||||
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 10.4 - Recorded Investment in Delinquent Mortgage Loans (dollars in thousands) | ||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||
Conventional MPP Loans | FHA Loans | Total | ||||||||||||||||||||||
Past due 30-59 days delinquent | $ | 49,053 | $ | 42,744 | $ | 91,797 | ||||||||||||||||||
Past due 60-89 days delinquent | 13,597 | 12,881 | 26,478 | |||||||||||||||||||||
Past due 90 days or more delinquent | 42,991 | 25,045 | 68,036 | |||||||||||||||||||||
Total past due | 105,641 | 80,670 | 186,311 | |||||||||||||||||||||
Total current mortgage loans | 6,305,992 | 522,042 | 6,828,034 | |||||||||||||||||||||
Total mortgage loans | $ | 6,411,633 | $ | 602,712 | $ | 7,014,345 | ||||||||||||||||||
Other delinquency statistics: | ||||||||||||||||||||||||
In process of foreclosure, included above (1) | $ | 34,854 | $ | 11,687 | $ | 46,541 | ||||||||||||||||||
Serious delinquency rate (2) | 0.68 | % | 4.27 | % | 0.99 | % | ||||||||||||||||||
Past due 90 days or more still accruing interest (3) | $ | 41,857 | $ | 25,045 | $ | 66,902 | ||||||||||||||||||
Loans on non-accrual status, included above | $ | 3,574 | $ | — | $ | 3,574 | ||||||||||||||||||
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 December 31, 2014 or 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 53 and 42 modified loans considered troubled debt restructurings at December 31, 2014 and 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 10.5 - Recorded Investment in Troubled Debt Restructurings (in thousands) | ||||||||||||||||||||||||
Troubled debt restructurings | December 31, 2014 | December 31, 2013 | ||||||||||||||||||||||
Conventional MPP Loans | $ | 8,639 | $ | 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 10.6 - Recorded Investment of Financing Receivables Modified within the Previous 12 Months and Considered Troubled Debt Restructurings that Subsequently Defaulted (in thousands) | ||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
Defaulted troubled debt restructurings | 2014 | 2013 | 2012 | |||||||||||||||||||||
Conventional MPP Loans | $ | 671 | $ | 793 | $ | — | ||||||||||||||||||
Modified loans that subsequently default may recognize a higher probability of loss when calculating the allowance for credit losses. | ||||||||||||||||||||||||
Individually Evaluated Impaired Loans. At December 31, 2014 and 2013, only certain conventional MPP loans individually evaluated for impairment required an allowance for credit losses. Table 10.7 presents the recorded investment, unpaid principal balance, and related allowance associated with these loans. | ||||||||||||||||||||||||
Table 10.7 - Individually Evaluated Impaired Loan Statistics by Product Class Level (in thousands) | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Conventional MPP loans | Recorded Investment | Unpaid Principal Balance | Related Allowance | Recorded Investment | Unpaid Principal Balance | Related Allowance | ||||||||||||||||||
With no related | $ | 5,297 | $ | 5,165 | $ | — | $ | 4,959 | $ | 4,828 | $ | — | ||||||||||||
allowance | ||||||||||||||||||||||||
With an allowance | 3,342 | 3,293 | 153 | 2,840 | 2,801 | 74 | ||||||||||||||||||
Total | $ | 8,639 | $ | 8,458 | $ | 153 | $ | 7,799 | $ | 7,629 | $ | 74 | ||||||||||||
Table 10.8 - Average Recorded Investment of Individually Evaluated Impaired Loans and Related Interest Income Recognized (in thousands) | ||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Individually impaired loans | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||
Conventional MPP Loans | $ | 8,029 | $ | 417 | $ | 6,615 | $ | 348 | $ | 4,331 | $ | 228 | ||||||||||||
Derivatives_and_Hedging_Activi
Derivatives and Hedging Activities | 12 Months Ended | |||||||||||||||
Dec. 31, 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 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. | ||||||||||||||||
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 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: | ||||||||||||||||
Investments - The interest rate and prepayment risks associated with the FHLBank's investment securities are managed through a combination of debt issuance and, possibly, derivatives. The FHLBank may manage the prepayment and interest rate risks by funding investment securities with Consolidated Obligations that have call features or by hedging the prepayment risk with caps or floors, callable swaps or swaptions. | ||||||||||||||||
Advances - The FHLBank offers a wide array of Advance structures to meet members' funding needs. These Advances may have maturities up to 30 years with variable or fixed rates and may include early termination features or options. The repricing characteristics and optionality embedded in certain Advances may create interest-rate risk. The FHLBank may use derivatives to adjust the repricing and/or option characteristics of Advances in order to more closely match the characteristics of the FHLBank's funding liabilities. In general, whenever a member executes a fixed-rate Advance or a variable-rate Advance with embedded options, the FHLBank will simultaneously execute a derivative with terms that offset the terms and embedded options, if any, in the Advance. For example, the FHLBank may hedge a fixed-rate Advance with an interest rate swap where the FHLBank pays a fixed-rate coupon and receives a floating-rate coupon, effectively converting the fixed-rate Advance to a floating-rate Advance. These types of hedges are typically treated as fair value hedges. | ||||||||||||||||
When issuing a putable Advance, the FHLBank effectively purchases a put option from the member that allows the FHLBank to put or extinguish the fixed-rate Advance, which the FHLBank normally would exercise when interest rates increase. The FHLBank may hedge these Advances by entering into a cancelable derivative. | ||||||||||||||||
Mortgage Loans - The FHLBank invests in fixed-rate mortgage loans. The prepayment options embedded in these mortgage loans can result in extensions or contractions in the expected repayment of these investments, depending on changes in estimated prepayment speeds. The FHLBank may manage the interest rate and prepayment risks associated with mortgages through a combination of debt issuance and derivatives. The FHLBank issues both callable and noncallable debt and prepayment linked Consolidated Obligations to achieve cash flow patterns and liability durations similar to those expected on the mortgage loans. The FHLBank is also permitted to use derivatives to match the expected prepayment characteristics of the mortgages, although to date it has not done so. | ||||||||||||||||
Consolidated Obligations - The FHLBank enters into derivatives to hedge the interest rate risk associated with its specific debt issuances. The FHLBank manages the risk arising from changing market prices and volatility of a Consolidated Obligation by matching the cash inflow on a derivative with the cash outflow on the Consolidated Obligation. | ||||||||||||||||
For instance, in a typical transaction, fixed-rate Consolidated Obligations are issued by one or more FHLBanks, and the FHLBank simultaneously enters into a matching interest rate swap in which the counterparty pays fixed cash flows to the FHLBank designed to mirror in timing and amount the cash outflows the FHLBank pays on the Consolidated Obligation. The FHLBank pays a variable cash flow that closely matches the interest payments it receives on short-term or variable-rate Advances, typically 3-month LIBOR. These transactions are treated as fair value hedges. | ||||||||||||||||
This strategy of issuing Bonds while simultaneously entering into derivatives enables the FHLBank to offer a wider range of attractively priced Advances to its members and may allow the FHLBank to reduce its funding costs. The continued attractiveness of such debt depends on yield relationships between the Bond and the derivative markets. If conditions in these markets change, the FHLBank may alter the types or terms of the Bonds that it issues. By acting in both the capital and the swap markets, the FHLBank may raise funds at lower costs than through the issuance of simple fixed- or variable-rate Consolidated Obligations in the capital markets alone. | ||||||||||||||||
Firm Commitments - Certain mortgage purchase commitments are considered derivatives. The FHLBank may hedge these commitments by selling to-be-announced (TBA) mortgage-backed securities for forward settlement. A TBA represents a forward contract for the sale of mortgage-backed securities at a future agreed upon date for an established price. The mortgage purchase commitment and the TBA used in the firm commitment hedging strategy (economic hedge) are recorded as a derivative asset or derivative liability at fair value, with changes in fair value recognized in the current period earnings. When the mortgage purchase commitment derivative settles, the current market value of the commitment is included in the basis of the mortgage loan and amortized accordingly. | ||||||||||||||||
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 11.1 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 11.1 - Fair Value of Derivative Instruments (in thousands) | ||||||||||||||||
December 31, 2014 | ||||||||||||||||
Notional Amount of Derivatives | Derivative Assets | Derivative Liabilities | ||||||||||||||
Derivatives designated as fair value hedging instruments: | ||||||||||||||||
Interest rate swaps | $ | 4,301,547 | $ | 19,826 | $ | 138,150 | ||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||
Interest rate swaps | 4,635,000 | 900 | 6,559 | |||||||||||||
Forward rate agreements | 439,000 | 6 | 4,924 | |||||||||||||
Mortgage delivery commitments | 451,292 | 3,799 | 1 | |||||||||||||
Total derivatives not designated as hedging instruments | 5,525,292 | 4,705 | 11,484 | |||||||||||||
Total derivatives before netting and collateral adjustments | $ | 9,826,839 | 24,531 | 149,634 | ||||||||||||
Netting adjustments and cash collateral (1) | (9,832 | ) | (85,867 | ) | ||||||||||||
Total derivative assets and total derivative liabilities | $ | 14,699 | $ | 63,767 | ||||||||||||
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 and cash collateral (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 clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $78,755 and $109,288 at December 31, 2014 and 2013. Cash collateral received and related accrued interest was (in thousands) $2,720 and $19,423 at December 31, 2014 and 2013. | |||||||||||||||
Table 11.2 presents the components of net gains on derivatives and hedging activities as presented in the Statements of Income. | ||||||||||||||||
Table 11.2 - Net Gains on Derivatives and Hedging Activities (in thousands) | ||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Derivatives and hedged items in fair value hedging relationships: | ||||||||||||||||
Interest rate swaps | $ | 5,127 | $ | 10,837 | $ | 6,864 | ||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||
Economic hedges: | ||||||||||||||||
Interest rate swaps | 628 | 7,456 | 3,771 | |||||||||||||
Forward rate agreements | (15,465 | ) | (845 | ) | (8,645 | ) | ||||||||||
Net interest settlements | 706 | 328 | (2,378 | ) | ||||||||||||
Mortgage delivery commitments | 15,631 | (9,873 | ) | 9,123 | ||||||||||||
Total net gains (losses) related to derivatives not designated as hedging instruments | 1,500 | (2,934 | ) | 1,871 | ||||||||||||
Net gains on derivatives and hedging activities | $ | 6,627 | $ | 7,903 | $ | 8,735 | ||||||||||
Table 11.3 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 11.3 - Effect of Fair Value Hedge-Related Derivative Instruments (in thousands) | ||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||
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 | $ | 76,295 | $ | (71,315 | ) | $ | 4,980 | $ | (91,232 | ) | ||||||
Consolidated Bonds | (15,633 | ) | 15,780 | 147 | 18,298 | |||||||||||
Total | $ | 60,662 | $ | (55,535 | ) | $ | 5,127 | $ | (72,934 | ) | ||||||
2013 | ||||||||||||||||
Hedged Item Type: | ||||||||||||||||
Advances | $ | 156,025 | $ | (145,843 | ) | $ | 10,182 | $ | (106,452 | ) | ||||||
Consolidated Bonds | (26,341 | ) | 26,996 | 655 | 27,038 | |||||||||||
Total | $ | 129,684 | $ | (118,847 | ) | $ | 10,837 | $ | (79,414 | ) | ||||||
2012 | ||||||||||||||||
Hedged Item Type: | ||||||||||||||||
Advances | $ | 268,944 | $ | (261,817 | ) | $ | 7,127 | $ | (244,836 | ) | ||||||
Consolidated Bonds | (8,666 | ) | 8,403 | (263 | ) | 36,763 | ||||||||||
Total | $ | 260,278 | $ | (253,414 | ) | $ | 6,864 | $ | (208,073 | ) | ||||||
-1 | The net effect of derivatives, in fair value hedge relationships, on net interest income is included in the interest income or interest expense line item of the respective hedged item type. These amounts include the effect of net interest settlements attributable to designated fair value hedges but do not include (in thousands) $(3,310), $(3,022), and $(3,566) of (amortization)/accretion related to fair value hedging activities for the years ended December 31, 2014, 2013, and 2012, respectively. | |||||||||||||||
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 11.4 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 December 31, 2014 and 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 11.4 - Offsetting of Derivative Assets and Derivative Liabilities (in thousands) | ||||||||||||||||
December 31, 2014 | ||||||||||||||||
Derivative Assets | Derivative Liabilities | |||||||||||||||
Derivative instruments meeting netting requirements: | ||||||||||||||||
Gross recognized amount: | ||||||||||||||||
Bilateral derivatives | $ | 19,585 | $ | 141,352 | ||||||||||||
Cleared derivatives | 1,141 | 3,357 | ||||||||||||||
Total gross recognized amount | 20,726 | 144,709 | ||||||||||||||
Gross amounts of netting adjustments and cash collateral: | ||||||||||||||||
Bilateral derivatives | (19,544 | ) | (82,510 | ) | ||||||||||||
Cleared derivatives | 9,712 | (3,357 | ) | |||||||||||||
Total gross amounts of netting adjustments and cash collateral | (9,832 | ) | (85,867 | ) | ||||||||||||
Net amounts after netting adjustments and cash collateral: | ||||||||||||||||
Bilateral derivatives | 41 | 58,842 | ||||||||||||||
Cleared derivatives | 10,853 | — | ||||||||||||||
Total net amounts after netting adjustments and cash collateral | 10,894 | 58,842 | ||||||||||||||
Derivative instruments not meeting netting requirements(1): | ||||||||||||||||
Bilateral derivatives | 3,805 | 4,925 | ||||||||||||||
Total derivative instruments not meeting netting requirements(1) | 3,805 | 4,925 | ||||||||||||||
Total derivative assets and total derivative liabilities: | ||||||||||||||||
Bilateral derivatives | 3,846 | 63,767 | ||||||||||||||
Cleared derivatives | 10,853 | — | ||||||||||||||
Total derivative assets and total derivative liabilities | $ | 14,699 | $ | 63,767 | ||||||||||||
December 31, 2013 | ||||||||||||||||
Derivative Assets | Derivative Liabilities | |||||||||||||||
Bilateral 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. | |||||||||||||||
Credit Risk on Derivatives | ||||||||||||||||
The FHLBank is subject to credit risk due to the risk of non-performance 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 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. 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 December 31, 2014 was (in thousands) $121,808, for which the FHLBank had posted collateral with a fair value of (in thousands) $62,966 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) $12,353 of collateral at fair value to its derivatives counterparties at December 31, 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. At December 31, 2014, the FHLBank was not required to post additional initial margin by its clearing agents, based on credit considerations. |
Deposits
Deposits | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Deposits [Abstract] | ||||||||
Deposit [Text Block] | Deposits | |||||||
The FHLBank offers demand and overnight deposits to members and qualifying nonmembers. In addition, the FHLBank offers short-term interest bearing deposit programs to members. A member that services mortgage loans may deposit funds collected in connection with the mortgage loans at the FHLBank, pending disbursement of such funds to the owners of the mortgage loans. The FHLBank classifies these items as other interest bearing deposits. | ||||||||
Certain financial institutions have agreed to maintain compensating balances in consideration for correspondent and other non-credit services. These balances are included in interest bearing deposits on the accompanying financial statements. The compensating balances required to be held by the FHLBank averaged (in thousands) $3,597,698 and $3,982,567 during 2014 and 2013. | ||||||||
Deposits classified as demand, overnight, and other pay interest based on a daily interest rate. Term deposits pay interest based on a fixed rate determined at the issuance of the deposit. The average interest rate paid on interest bearing deposits was 0.03 percent during 2014, 2013, and 2012. | ||||||||
Non-interest bearing deposits represent funds for which the FHLBank acts as a pass-through correspondent for member institutions required to deposit reserves with the Federal Reserve Banks. | ||||||||
Table 12.1- Deposits (in thousands) | ||||||||
December 31, 2014 | December 31, 2013 | |||||||
Interest bearing: | ||||||||
Demand and overnight | $ | 624,446 | $ | 796,039 | ||||
Term | 99,600 | 96,100 | ||||||
Other | 5,592 | 5,872 | ||||||
Total interest bearing | 729,638 | 898,011 | ||||||
Non-interest bearing: | ||||||||
Other | 298 | 15,884 | ||||||
Total non-interest bearing | 298 | 15,884 | ||||||
Total deposits | $ | 729,936 | $ | 913,895 | ||||
The aggregate amount of time deposits with a denomination of $250 thousand or more was (in thousands) $99,550 and $96,000 as of December 31, 2014 and 2013, respectively. |
Consolidated_Obligations
Consolidated Obligations | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||
Consolidated Obligations [Text Block] | Consolidated Obligations | ||||||||||||||
Consolidated Obligations consist of Consolidated Bonds and Discount Notes. The FHLBanks issue Consolidated Obligations through the Office of Finance as their agent. In connection with each debt issuance, each FHLBank specifies the amount of debt it wants issued on its behalf. The Office of Finance tracks the amount of debt issued on behalf of each FHLBank. In addition, the FHLBank records as a liability its specific portion of Consolidated Obligations for which it is the primary obligor. | |||||||||||||||
The Finance Agency and the U.S. Secretary of the Treasury oversee the issuance of FHLBank debt through the Office of Finance. Consolidated Bonds are issued primarily to raise intermediate- and long-term funds for the FHLBanks and are not subject to any statutory or regulatory limits on maturity. Consolidated Discount Notes are issued primarily to raise short-term funds and have original maturities up to one year. These notes generally sell at less than their face amount and are redeemed at par value when they mature. | |||||||||||||||
Although the FHLBank is primarily liable for its portion of Consolidated Obligations, the FHLBank is also jointly and severally liable with the other 11 FHLBanks for the payment of principal and interest on all Consolidated Obligations of each of the other FHLBanks. The Finance Agency, at its discretion, may require any FHLBank to make principal or interest payments due on any Consolidated Obligation whether or not the Consolidated Obligation represents a primary liability of such FHLBank. Although an FHLBank has never paid the principal or interest payments due on a Consolidated Obligation on behalf of another FHLBank, if that event should occur, Finance Agency regulations provide that the paying FHLBank is entitled to reimbursement from the non-complying FHLBank for those payments and other associated costs, including interest to be determined by the Finance Agency. If, however, the Finance Agency determines that the non-complying FHLBank is unable to satisfy its repayment obligations, the Finance Agency may allocate the outstanding liabilities of the non-complying FHLBank among the remaining FHLBanks on a pro rata basis in proportion to each FHLBank's participation in all Consolidated Obligations outstanding or in any other manner it may determine to ensure that the FHLBanks operate in a safe and sound manner. | |||||||||||||||
The par values of the 12 FHLBanks' outstanding Consolidated Obligations were approximately $847.2 billion and $766.8 billion at December 31, 2014 and 2013. Regulations require the FHLBank to maintain unpledged qualifying assets equal to its participation in the Consolidated Obligations outstanding. Qualifying assets are defined as cash; secured Advances; obligations of or fully guaranteed by the United States; obligations, participations, or other instruments of or issued by Fannie Mae or Ginnie Mae; mortgages, obligations, or other securities which are or ever have been sold by Freddie Mac under the FHLBank Act; and such securities as fiduciary and trust funds may invest in under the laws of the state in which the FHLBank is located. Any assets subject to a lien or pledge for the benefit of holders of any issue of Consolidated Obligations are treated as if they were free from lien or pledge for purposes of compliance with these regulations. | |||||||||||||||
Table 13.1 - Consolidated Discount Notes Outstanding (dollars in thousands) | |||||||||||||||
Book Value | Par Value | Weighted Average Interest Rate (1) | |||||||||||||
31-Dec-14 | $ | 41,232,127 | $ | 41,238,122 | 0.09 | % | |||||||||
31-Dec-13 | $ | 38,209,946 | $ | 38,216,860 | 0.09 | % | |||||||||
-1 | Represents an implied rate without consideration of concessions. | ||||||||||||||
Table 13.2 - Consolidated Bonds Outstanding by Contractual Maturity (dollars in thousands) | |||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Year of Contractual Maturity | Amount | Weighted Average Interest Rate | Amount | Weighted Average Interest Rate | |||||||||||
Due in 1 year or less | $ | 32,477,000 | 0.24 | % | $ | 35,691,500 | 0.34 | % | |||||||
Due after 1 year through 2 years | 6,918,000 | 1.19 | 2,802,000 | 1.66 | |||||||||||
Due after 2 years through 3 years | 4,594,000 | 1.56 | 3,295,000 | 2.12 | |||||||||||
Due after 3 years through 4 years | 4,245,000 | 1.79 | 3,689,000 | 1.67 | |||||||||||
Due after 4 years through 5 years | 2,647,000 | 2.08 | 3,415,000 | 1.86 | |||||||||||
Thereafter | 8,217,000 | 2.79 | 9,102,000 | 2.66 | |||||||||||
Index amortizing notes | 25,297 | 5.07 | 32,746 | 5.07 | |||||||||||
Total par value | 59,123,297 | 1 | 58,027,246 | 1.04 | |||||||||||
Premiums | 103,477 | 123,820 | |||||||||||||
Discounts | (25,161 | ) | (22,781 | ) | |||||||||||
Hedging adjustments | 15,304 | 31,084 | |||||||||||||
Fair value option valuation adjustment and | (360 | ) | 3,370 | ||||||||||||
accrued interest | |||||||||||||||
Total | $ | 59,216,557 | $ | 58,162,739 | |||||||||||
Consolidated Obligations outstanding were issued with either fixed-rate coupon payment terms or variable-rate coupon payment terms that may use a variety of indices for interest rate resets, including LIBOR. To meet the expected specific needs of certain investors in Consolidated Obligations, both fixed-rate Bonds and variable-rate Bonds may contain features that result in complex coupon payment terms and call options. When these Consolidated Obligations are issued, the FHLBank may enter into derivatives containing features that offset the terms and embedded options, if any, of the Consolidated Obligations. | |||||||||||||||
Table 13.3 - Consolidated Bonds Outstanding by Call Features (in thousands) | |||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Par value of Consolidated Bonds: | |||||||||||||||
Non-callable | $ | 49,976,297 | $ | 46,670,246 | |||||||||||
Callable | 9,147,000 | 11,357,000 | |||||||||||||
Total par value | $ | 59,123,297 | $ | 58,027,246 | |||||||||||
Table 13.4 - Consolidated Bonds Outstanding by Contractual Maturity or Next Call Date (in thousands) | |||||||||||||||
Year of Contractual Maturity or Next Call Date | December 31, 2014 | December 31, 2013 | |||||||||||||
Due in 1 year or less | $ | 40,774,000 | $ | 41,493,500 | |||||||||||
Due after 1 year through 2 years | 5,413,000 | 3,827,000 | |||||||||||||
Due after 2 years through 3 years | 3,317,000 | 2,915,000 | |||||||||||||
Due after 3 years through 4 years | 2,685,000 | 2,427,000 | |||||||||||||
Due after 4 years through 5 years | 1,992,000 | 2,095,000 | |||||||||||||
Thereafter | 4,917,000 | 5,237,000 | |||||||||||||
Index amortizing notes | 25,297 | 32,746 | |||||||||||||
Total par value | $ | 59,123,297 | $ | 58,027,246 | |||||||||||
Consolidated Bonds, beyond having fixed-rate or variable-rate interest-rate payment terms, may also have a step-up interest-rate payment type. Step-up bonds pay interest at increasing fixed rates for specified intervals over the life of the Consolidated Bond. These Consolidated Bonds generally contain provisions enabling the FHLBank to call the Consolidated Bonds at its option on the step-up dates. | |||||||||||||||
Table 13.5 - Consolidated Bonds by Interest-rate Payment Type (in thousands) | |||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Par value of Consolidated Bonds: | |||||||||||||||
Fixed-rate | $ | 31,363,297 | $ | 29,362,246 | |||||||||||
Variable-rate | 27,610,000 | 28,650,000 | |||||||||||||
Step-up | 150,000 | 15,000 | |||||||||||||
Total par value | $ | 59,123,297 | $ | 58,027,246 | |||||||||||
Concessions on Consolidated Obligations. Unamortized concessions included in other assets were (in thousands) $14,184 and $15,947 at December 31, 2014 and 2013. The amortization of these concessions is included in Consolidated Obligation interest expense and totaled (in thousands) $7,380, $7,026, and $21,704 for the years ended December 31, 2014, 2013, and 2012, respectively. |
Affordable_Housing_Program_AHP
Affordable Housing Program (AHP) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Affordable Housing Program (AHP) [Abstract] | ||||||||
Affordable Housing Program (AHP) [Text Block] | Affordable Housing Program (AHP) | |||||||
The FHLBank Act requires each FHLBank to establish an AHP. Each FHLBank provides subsidies in the form of direct grants and below-market interest rate Advances to members who use the funds to assist in the purchase, construction, or rehabilitation of housing for very low-, low-, and moderate-income households. Annually, the FHLBanks must set aside for the AHP the greater of $100 million or 10 percent of net earnings. For purposes of the AHP calculation, net earnings is defined as net income before assessments, plus interest expense related to mandatorily redeemable capital stock. The FHLBank accrues AHP expense monthly based on its net earnings. The FHLBank reduces the AHP liability as members use subsidies. | ||||||||
If the FHLBank experienced a net loss during a quarter, but still had net earnings for the year, the FHLBank's obligation to the AHP would be calculated based on the FHLBank's year-to-date net earnings. If the FHLBank had net earnings in subsequent quarters, it would be required to contribute additional amounts to meet its calculated annual obligation. If the FHLBank experienced a net loss for a full year, the FHLBank would have no obligation to the AHP for the year, because each FHLBank's required annual AHP contribution is limited to its annual net earnings. If the aggregate 10 percent calculation described above was less than $100 million for the FHLBanks, each FHLBank would be required to contribute a pro rata amount sufficient to assure that the aggregate contributions of the FHLBanks equaled $100 million. The pro ration would be made on the basis of an FHLBank's income in relation to the income of all FHLBanks for the previous year. | ||||||||
There was no shortfall, as described above, in 2014, 2013 or 2012. If an FHLBank finds that its required AHP obligations are contributing to its financial instability, it may apply to the Finance Agency for a temporary suspension of its contributions. The FHLBank has never made such an application. The FHLBank had outstanding principal in AHP-related Advances (in thousands) of $102,465 and $116,503 at December 31, 2014 and 2013. | ||||||||
Table 14.1 - Analysis of the FHLBank's AHP Liability (in thousands) | ||||||||
2014 | 2013 | |||||||
Balance at beginning of year | $ | 93,789 | $ | 82,672 | ||||
Assessments (current year additions) | 27,605 | 29,620 | ||||||
Subsidy uses, net | (23,291 | ) | (18,503 | ) | ||||
Balance at end of year | $ | 98,103 | $ | 93,789 | ||||
Capital
Capital | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Capital [Abstract] | ||||||||||||||||
Capital [Text Block] | Capital | |||||||||||||||
The FHLBank is subject to three capital requirements under its Capital Plan and the Finance Agency rules and regulations. Regulatory capital does not include accumulated other comprehensive income, but does include mandatorily redeemable capital stock. | ||||||||||||||||
1 | Risk-based capital. The FHLBank must maintain at all times permanent capital, defined as Class B stock and retained earnings, in an amount at least equal to the sum of its credit risk, market risk, and operations risk capital requirements, all of which are calculated in accordance with the rules and regulations of the Finance Agency. | |||||||||||||||
2 | Total regulatory capital. The FHLBank is required to maintain at all times a total regulatory capital-to-assets ratio of at least four percent. Total regulatory capital is the sum of permanent capital, Class A stock, any general loss allowance, if consistent with GAAP and not established for specific assets, and other amounts from sources determined by the Finance Agency as available to absorb losses. | |||||||||||||||
3 | Leverage capital. The FHLBank is required to maintain at all times a leverage capital-to-assets ratio of at least five percent. Leverage capital is defined as the sum of permanent capital weighted 1.5 times and all other capital without a weighting factor. | |||||||||||||||
The Finance Agency may require the FHLBank to maintain greater permanent capital than is required based on Finance Agency rules and regulations. | ||||||||||||||||
At December 31, 2014 and 2013, the FHLBank was in compliance with each of these capital requirements. | ||||||||||||||||
Table 15.1 - Capital Requirements (dollars in thousands) | ||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||
Minimum Requirement | Actual | Minimum Requirement | Actual | |||||||||||||
Risk-based capital | $ | 481,835 | $ | 5,018,567 | $ | 547,455 | $ | 5,435,002 | ||||||||
Capital-to-assets ratio (regulatory) | 4 | % | 4.71 | % | 4 | % | 5.27 | % | ||||||||
Regulatory capital | $ | 4,265,617 | $ | 5,018,567 | $ | 4,127,228 | $ | 5,435,002 | ||||||||
Leverage capital-to-assets ratio (regulatory) | 5 | % | 7.06 | % | 5 | % | 7.9 | % | ||||||||
Leverage capital | $ | 5,332,021 | $ | 7,527,851 | $ | 5,159,035 | $ | 8,152,503 | ||||||||
The FHLBank currently offers only Class B stock, which is issued and redeemed at a par value of $100 per share. Class B stock may be issued to meet membership and activity stock purchase requirements, to pay dividends, and to pay interest on mandatorily redeemable capital stock. Membership stock is required to become a member of and maintain membership in the FHLBank. The membership stock requirement is based upon a percentage of the member's total assets, currently determined within a declining range from 0.15 percent to 0.03 percent of each member's total assets, with a current minimum of $1 thousand and a current maximum of $25 million for each member. In addition to membership stock, a member may be required to hold activity stock to capitalize its Mission Asset Activity with the FHLBank. | ||||||||||||||||
Mission Asset Activity includes Advances, certain funds and rate Advance commitments, and MPP activity that occurred after implementation of the Capital Plan on December 30, 2002. Members must maintain an activity stock balance at least equal to the minimum activity allocation percentage, which currently is zero percent for the MPP and two percent for all other Mission Asset Activity. If a member owns more than the maximum activity allocation percentage, which currently is four percent of all Mission Asset Activity, the additional stock is that member's excess stock. The FHLBank's unrestricted excess stock is defined as total Class B stock minus membership stock, activity stock calculated at the maximum allocation percentage, shares reserved for exclusive use after a stock dividend, and shares subject to redemption and withdrawal notices. The FHLBank's excess stock may normally be used by members to support a portion of their activity stock requirement as long as those members maintain at least their minimum activity stock allocation percentage. | ||||||||||||||||
A member may request redemption of all or part of its Class B stock or may withdraw from membership by giving five years' advance written notice. When the FHLBank repurchases capital stock, it must first repurchase shares for which a redemption or withdrawal notice's five-year redemption period or withdrawal period has expired. Since its Capital Plan was implemented, the FHLBank has repurchased, at its discretion, all member shares subject to outstanding redemption notices prior to the expiration of the five-year redemption period. | ||||||||||||||||
The Gramm-Leach-Bliley Act of 1999 (GLB Act) made membership in the FHLBanks voluntary for all members. Any member that has withdrawn from membership may not be readmitted to membership in any FHLBank until five years from the divestiture date for all capital stock that was held as a condition of membership, unless the institution has canceled its notice of withdrawal prior to the divestiture date. This restriction does not apply if the member is transferring its membership from one FHLBank to another on an uninterrupted basis. | ||||||||||||||||
In accordance with the FHLBank Act, each class of FHLBank stock is considered putable by the member and the FHLBank may repurchase, in its sole discretion, any member's stock investments that exceed the required minimum amount. However, there are significant statutory and regulatory restrictions on the obligation to redeem, or right to repurchase, the outstanding stock. As a result, whether or not a member may have its capital stock in the FHLBank repurchased (at the FHLBank's discretion at any time before the end of the redemption period) or redeemed (at a member's request, completed at the end of a redemption period) will depend on whether the FHLBank is in compliance with those restrictions. | ||||||||||||||||
The FHLBank's retained earnings are owned proportionately by the current holders of Class B stock. The holders' interest in the retained earnings is realized at the time the FHLBank periodically declares dividends or at such time as the FHLBank is liquidated. The FHLBank's Board of Directors may declare and pay dividends in either cash or capital stock, assuming the FHLBank is in compliance with Finance Agency rules and regulations. | ||||||||||||||||
Restricted Retained Earnings. The Joint Capital Enhancement Agreement (Capital Agreement) is intended to enhance the capital position of each FHLBank. The Capital Agreement provides that each FHLBank contributes 20 percent of its net income each quarter to a separate restricted retained earnings account until the balance of that account equals at least one percent of that FHLBank's average balance of outstanding Consolidated Obligations for the previous quarter. These restricted retained earnings are not available to pay dividends but are available to absorb unexpected losses, if any, that the FHLBank may experience. At December 31, 2014 and 2013 the FHLBank had (in thousands) $159,694 and $110,843 in restricted retained earnings. | ||||||||||||||||
Mandatorily Redeemable Capital Stock. The FHLBank is a cooperative whose members and former members own all of the FHLBank's capital stock. Member shares cannot be purchased or sold except between the FHLBank and its members at its $100 per share par value, as mandated by the FHLBank's Capital Plan. The FHLBank reclassifies stock subject to redemption from equity to liability upon expiration of the “grace period” after a member submits a written redemption request or withdrawal notice, or when the member attains nonmember status by merger or acquisition, relocation, charter termination, or involuntary termination of membership. A member may cancel or revoke its written redemption request or its withdrawal notice prior to the end of the five-year redemption period. Under the FHLBank's Capital Plan, there is a five calendar day “grace period” for revocation of a redemption request and a 30 calendar day “grace period” for revocation of a withdrawal notice during which the member may cancel the redemption request or withdrawal notice without a penalty or fee. The cancellation fee after the “grace period” is currently two percent of the requested amount in the first year and increases one percent a year until it reaches a maximum of six percent in the fifth year. The cancellation fee can be waived by the FHLBank's Board of Directors for a bona fide business purpose. | ||||||||||||||||
Stock subject to a redemption or withdrawal notice that is within the “grace period” continues to be considered equity because there is no penalty or fee to retract these notices. Expiration of the “grace period” triggers the reclassification from equity to a liability (mandatorily redeemable capital stock) at fair value because after the “grace period” the penalty to retract these notices is considered substantive. If a member cancels its written notice of redemption or notice of withdrawal, the FHLBank will reclassify mandatorily redeemable capital stock from a liability to equity. Dividends related to capital stock classified as a liability are accrued at the expected dividend rate and reported as interest expense in the Statements of Income. For the years ended December 31, 2014, 2013, and 2012 dividends on mandatorily redeemable capital stock in the amount (in thousands) of $4,190, $5,506 and $11,690 were recorded as interest expense. | ||||||||||||||||
Table 15.2 - Mandatorily Redeemable Capital Stock Roll Forward (in thousands) | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Balance, beginning of year | $ | 115,853 | $ | 210,828 | $ | 274,781 | ||||||||||
Capital stock subject to mandatory redemption reclassified | 17,110 | 33,457 | 40,126 | |||||||||||||
from equity | ||||||||||||||||
Redemption (or other reduction) of mandatorily redeemable | (70,000 | ) | (128,432 | ) | (104,079 | ) | ||||||||||
capital stock | ||||||||||||||||
Balance, end of year | $ | 62,963 | $ | 115,853 | $ | 210,828 | ||||||||||
The number of stockholders holding the mandatorily redeemable capital stock was 11 at December 31, 2014, 2013, and 2012. | ||||||||||||||||
As of December 31, 2014 there were no members or former members that had requested redemptions of capital stock whose stock had not been reclassified as mandatorily redeemable capital stock because the “grace periods” had not yet expired on these requests. | ||||||||||||||||
Table 15.3 shows the amount of mandatorily redeemable capital stock by contractual year of redemption. The year of redemption in the table is the end of the five-year redemption period. Consistent with the Capital Plan currently in effect, the FHLBank is not required to redeem membership stock until five years after either (i) the membership is terminated or (ii) the FHLBank receives notice of withdrawal. The FHLBank is not required to redeem activity-based stock until the later of the expiration of the notice of redemption or until the activity to which the capital stock relates no longer remains outstanding. If activity-based stock becomes excess stock as a result of an activity no longer remaining outstanding, the FHLBank may repurchase such shares, in its sole discretion, subject to the statutory and regulatory restrictions on capital stock redemption. | ||||||||||||||||
The GLB Act states that an FHLBank may repurchase, in its sole discretion, any member's stock investments that exceed the required minimum amount. | ||||||||||||||||
Table 15.3 - Mandatorily Redeemable Capital Stock by Contractual Year of Redemption (in thousands) | ||||||||||||||||
Contractual Year of Redemption | December 31, 2014 | December 31, 2013 | ||||||||||||||
Year 1 | $ | 130 | $ | 114,531 | ||||||||||||
Year 2 | — | 130 | ||||||||||||||
Year 3 | — | — | ||||||||||||||
Year 4 | 55 | — | ||||||||||||||
Year 5 | 2,278 | 71 | ||||||||||||||
Past contractual redemption date due to remaining activity(1) | 60,500 | 1,121 | ||||||||||||||
Total | $ | 62,963 | $ | 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. | |||||||||||||||
Excess Capital Stock. Finance Agency regulations limit the ability of an FHLBank to create member excess stock under certain circumstances. The FHLBank may not pay dividends in the form of capital stock or issue new excess stock to members if its excess stock exceeds one percent of its total assets or if the issuance of excess stock would cause the FHLBank's excess stock to exceed one percent of its total assets. At December 31, 2014, the FHLBank had excess capital stock outstanding totaling less than one percent of its total assets. At December 31, 2014, the FHLBank was in compliance with the Finance Agency's excess stock rules. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive (Loss) Income | 12 Months Ended | |||||||||||
Dec. 31, 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 years ended December 31, 2014, 2013, and 2012. | ||||||||||||
Table 16.1 - 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, DECEMBER 31, 2011 | $ | (1,014 | ) | $ | (9,987 | ) | $ | (11,001 | ) | |||
Other comprehensive income before reclassification: | ||||||||||||
Net unrealized gains | 1,014 | — | 1,014 | |||||||||
Net actuarial loss | — | (2,701 | ) | (2,701 | ) | |||||||
Reclassifications from other comprehensive income to net income: | ||||||||||||
Amortization - pension and postretirement benefits | — | 954 | 954 | |||||||||
Net current period other comprehensive income (loss) | 1,014 | (1,747 | ) | (733 | ) | |||||||
BALANCE, DECEMBER 31, 2012 | — | (11,734 | ) | (11,734 | ) | |||||||
Other comprehensive income before reclassification: | ||||||||||||
Net unrealized losses | (121 | ) | — | (121 | ) | |||||||
Net actuarial gain | — | 803 | 803 | |||||||||
Reclassifications from other comprehensive income to net income: | ||||||||||||
Amortization - pension and postretirement benefits | — | 2,010 | 2,010 | |||||||||
Net current period other comprehensive (loss) income | (121 | ) | 2,813 | 2,692 | ||||||||
BALANCE, DECEMBER 31, 2013 | (121 | ) | (8,921 | ) | (9,042 | ) | ||||||
Other comprehensive income before reclassification: | ||||||||||||
Net unrealized gains | 97 | — | 97 | |||||||||
Net actuarial loss | — | (9,496 | ) | (9,496 | ) | |||||||
Reclassifications from other comprehensive income to net income: | ||||||||||||
Amortization - pension and postretirement benefits | — | 1,845 | 1,845 | |||||||||
Net current period other comprehensive income (loss) | 97 | (7,651 | ) | (7,554 | ) | |||||||
BALANCE, DECEMBER 31, 2014 | $ | (24 | ) | $ | (16,572 | ) | $ | (16,596 | ) |
Pension_and_Postretirement_Ben
Pension and Postretirement Benefit Plans | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 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. The Pentegra Defined Benefit Plan is treated as a multi-employer plan for accounting purposes, but operates as a multiple-employer plan under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code. As a result, certain multi-employer plan disclosures, including the certified zone status, are not applicable to the Pentegra Defined Benefit 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. | ||||||||||||||||||||||||
The Pentegra Defined Benefit Plan operates on a plan year from July 1 through June 30. The Pentegra Defined Benefit Plan files one Form 5500 on behalf of all employers who participate in the plan. The Employer Identification Number is 13-5645888 and the three-digit plan number is 333. There are no collective bargaining agreements in place at the FHLBank. | ||||||||||||||||||||||||
The Pentegra Defined Benefit Plan's annual valuation process includes calculating the plan's funded status and separately calculating the funded status of each participating employer. The funded status is defined as the market value of assets divided by the funding target (100 percent of the present value of all benefit liabilities accrued at that date). As permitted by ERISA, the Pentegra Defined Benefit Plan accepts contributions for the prior plan year up to eight and a half months after the end of the prior plan year. As a result, the market value of assets at the valuation date (July 1) will increase by any subsequent contributions designated for the immediately preceding plan year ended June 30. | ||||||||||||||||||||||||
The most recent Form 5500 available for the Pentegra Defined Benefit Plan is for the year ended June 30, 2013. The FHLBank did not contribute more than five percent of the total contributions to the Pentegra Defined Benefit Plan for the plan year ended June 30, 2013 and 2012. | ||||||||||||||||||||||||
Table 17.1 - Pentegra Defined Benefit Plan Net Pension Cost and Funded Status (dollars in thousands) | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Net pension cost charged to compensation and benefit expense for | $ | 6,041 | $ | 5,516 | $ | 4,638 | ||||||||||||||||||
the year ended December 31 | ||||||||||||||||||||||||
Pentegra Defined Benefit Plan funded status as of July 1 | 111.31 | % | (a) | 101.31 | % | (b) | 108.39 | % | ||||||||||||||||
FHLBank's funded status as of July 1 | 128.27 | % | 107.36 | % | 110.48 | % | ||||||||||||||||||
(a) | The Pentegra Defined Benefit Plan's funded status as of July 1, 2014 is preliminary and may increase because the plan's participants were permitted to make contributions for the plan year ended June 30, 2014 through March 15, 2015. Contributions made on or before March 15, 2015, and designated for the plan year ended June 30, 2014, will be included in the final valuation as of July 1, 2014. The final funded status as of July 1, 2014 will not be available until the Form 5500 for the plan year July 1, 2014 through June 30, 2015 is filed (this Form 5500 is due to be filed no later than April 2016). | |||||||||||||||||||||||
(b) | The Pentegra Defined Benefit Plan's funded status as of July 1, 2013 is preliminary and may increase because the plan's participants were permitted to make contributions for the plan year ended June 30, 2013 through March 15, 2014. Contributions made on or before March 15, 2014, and designated for the plan year ended June 30, 2013, will be included in the final valuation as of July 1, 2013. The final funded status as of July 1, 2013 will not be available until the Form 5500 for the plan year July 1, 2013 through June 30, 2014 is filed (this Form 5500 is due to be filed no later than April 2015). | |||||||||||||||||||||||
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 $943,000, $875,000, and $848,000 in the years ended December 31, 2014, 2013, and 2012, 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 17.2 presents the obligations and funding status of the FHLBank's nonqualified supplemental defined benefit retirement plan and postretirement benefits plan. The benefit obligation represents projected benefit obligation for the nonqualified supplemental defined benefit retirement plan and accumulated postretirement benefit obligation for the postretirement benefits plan. | ||||||||||||||||||||||||
Table 17.2 - Benefit Obligation, Fair Value of Plan Assets and Funded Status (in thousands) | ||||||||||||||||||||||||
Defined Benefit Retirement Plan | Postretirement Benefits Plan | |||||||||||||||||||||||
Change in benefit obligation: | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||
Benefit obligation at beginning of year | $ | 26,511 | $ | 27,293 | $ | 3,957 | $ | 4,859 | ||||||||||||||||
Service cost | 524 | 494 | 53 | 58 | ||||||||||||||||||||
Interest cost | 1,234 | 986 | 190 | 199 | ||||||||||||||||||||
Actuarial loss (gain) | 8,335 | 215 | 1,161 | (1,018 | ) | |||||||||||||||||||
Benefits paid | (2,744 | ) | (2,477 | ) | (164 | ) | (141 | ) | ||||||||||||||||
Benefit obligation at end of year | 33,860 | 26,511 | 5,197 | 3,957 | ||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||
Fair value of plan assets at beginning of year | — | — | — | — | ||||||||||||||||||||
Employer contribution | 2,744 | 2,477 | 164 | 141 | ||||||||||||||||||||
Benefits paid | (2,744 | ) | (2,477 | ) | (164 | ) | (141 | ) | ||||||||||||||||
Fair value of plan assets at end of year | — | — | — | — | ||||||||||||||||||||
Funded status at end of year | $ | (33,860 | ) | $ | (26,511 | ) | $ | (5,197 | ) | $ | (3,957 | ) | ||||||||||||
Amounts recognized in “Other liabilities” on the Statements of Condition for the FHLBank's nonqualified supplemental defined benefit plan and postretirement benefits plan as of December 31, 2014 and 2013 were (in thousands) $39,057 and $30,468. | ||||||||||||||||||||||||
Table 17.3 - Amounts Recognized in Accumulated Other Comprehensive Income (in thousands) | ||||||||||||||||||||||||
Defined Benefit Retirement Plan | Postretirement | |||||||||||||||||||||||
Benefits Plan | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Net actuarial loss (gain) | $ | 15,409 | $ | 8,919 | $ | 1,163 | $ | 2 | ||||||||||||||||
Table 17.4 - Net Periodic Benefit Cost and Other Amounts Recognized in Accumulated Other Comprehensive Income (in thousands) | ||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
Defined Benefit | Postretirement Benefits Plan | |||||||||||||||||||||||
Retirement Plan | ||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Net Periodic Benefit Cost | ||||||||||||||||||||||||
Service cost | $ | 524 | $ | 494 | $ | 578 | $ | 53 | $ | 58 | $ | 72 | ||||||||||||
Interest cost | 1,234 | 986 | 963 | 190 | 199 | 200 | ||||||||||||||||||
Amortization of net loss | 1,845 | 1,948 | 932 | — | 62 | 22 | ||||||||||||||||||
Net periodic benefit cost | 3,603 | 3,428 | 2,473 | 243 | 319 | 294 | ||||||||||||||||||
Other Changes in Benefit Obligations Recognized in Other Comprehensive Income | ||||||||||||||||||||||||
Net loss (gain) | 8,335 | 215 | 2,261 | 1,161 | (1,018 | ) | 440 | |||||||||||||||||
Amortization of net loss | (1,845 | ) | (1,948 | ) | (932 | ) | — | (62 | ) | (22 | ) | |||||||||||||
Total recognized in other comprehensive income | 6,490 | (1,733 | ) | 1,329 | 1,161 | (1,080 | ) | 418 | ||||||||||||||||
Total recognized in net periodic benefit cost and | $ | 10,093 | $ | 1,695 | $ | 3,802 | $ | 1,404 | $ | (761 | ) | $ | 712 | |||||||||||
other comprehensive income | ||||||||||||||||||||||||
Table 17.5 presents the estimated net actuarial loss that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year. | ||||||||||||||||||||||||
Table 17.5 - Amortization for Next Fiscal Year (in thousands) | ||||||||||||||||||||||||
Defined Benefit Retirement Plan | Postretirement Benefits Plan | |||||||||||||||||||||||
Net actuarial loss | $ | 2,405 | $ | 67 | ||||||||||||||||||||
Table 17.6 presents the key assumptions used for the actuarial calculations to determine benefit obligations for the nonqualified supplemental defined benefit retirement plan and postretirement benefits plan. | ||||||||||||||||||||||||
Table 17.6 - Benefit Obligation Key Assumptions | ||||||||||||||||||||||||
Defined Benefit Retirement Plan | Postretirement Benefits Plan | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Discount rate | 3.67 | % | 4.32 | % | 3.96 | % | 4.88 | % | ||||||||||||||||
Salary increases | 4.5 | % | 4.5 | % | N/A | N/A | ||||||||||||||||||
Table 17.7 presents the key assumptions used for the actuarial calculations to determine net periodic benefit cost for the FHLBank's defined benefit retirement plans and postretirement benefit plans. | ||||||||||||||||||||||||
Table 17.7 - Net Periodic Benefit Cost Key Assumptions | ||||||||||||||||||||||||
Defined Benefit Retirement Plan | Postretirement Benefits Plan | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Discount rate | 4.32 | % | 3.26 | % | 3.96 | % | 4.88 | % | 4.16 | % | 4.73 | % | ||||||||||||
Salary increases | 4.5 | % | 4.5 | % | 4.5 | % | N/A | N/A | N/A | |||||||||||||||
Table 17.8 - Postretirement Benefits Plan Assumed Health Care Cost Trend Rates | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Assumed for next year | 8.5 | % | 9 | % | ||||||||||||||||||||
Ultimate rate | 5.25 | % | 5.25 | % | ||||||||||||||||||||
Year that ultimate rate is reached | 2024 | 2024 | ||||||||||||||||||||||
The effect of a percentage point increase in the assumed health care trend rates would be an increase in net periodic postretirement benefit expense of $44,000 and in accumulated postretirement benefit obligation (APBO) of $1,027,000. The effect of a percentage point decrease in the assumed health care trend rates would be a decrease in net periodic postretirement benefit expense of $35,000 and in APBO of $806,000. | ||||||||||||||||||||||||
The discount rates for the disclosures as of December 31, 2014 were determined by using a discounted cash flow approach, which incorporates the timing of each expected future benefit payment. Estimated future benefit payments are based on each plan's census data, benefit formulas and provisions, and valuation assumptions reflecting the probability of decrement and survival. The present value of the future benefit payments is determined by using weighted average duration based interest rate yields from a variety of highly rated relevant corporate bond indices as of December 31, 2014, and solving for the single discount rate that produces the same present value. | ||||||||||||||||||||||||
Table 17.9 presents the estimated future benefits payments reflecting expected future services for the years ended after December 31, 2014. | ||||||||||||||||||||||||
Table 17.9 - Estimated Future Benefit Payments (in thousands) | ||||||||||||||||||||||||
Years | Defined Benefit Retirement Plan | Postretirement Benefit Plan | ||||||||||||||||||||||
2015 | $ | 2,874 | $ | 158 | ||||||||||||||||||||
2016 | 2,987 | 163 | ||||||||||||||||||||||
2017 | 2,225 | 178 | ||||||||||||||||||||||
2018 | 2,192 | 172 | ||||||||||||||||||||||
2019 | 2,296 | 181 | ||||||||||||||||||||||
2020 - 2024 | 8,825 | 1,165 | ||||||||||||||||||||||
Segment_Information
Segment Information | 12 Months Ended | |||||||||||
Dec. 31, 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. The FHLBank, as an interest rate spread manager, considers a segment's net interest income, net interest rate spread and, ultimately, net income as the key factors in allocating resources. Resource allocation decisions are made by considering these profitability measures in the context of the historical, current and expected risk profile of each segment and the entire balance sheet, as well as current incremental profitability measures relative to the incremental market risk profile. | ||||||||||||
Overall financial performance and risk management are dynamically managed primarily at the level of, and within the context of, the entire balance sheet rather than at the level of individual business segments or product lines. Also, the FHLBank hedges specific asset purchases and specific subportfolios in the context of the entire mortgage asset portfolio and the entire balance sheet. Under this holistic approach, the market risk/return profile of each business segment does not correspond, in general, to the performance that each segment would generate if it were completely managed on a separate basis, and it is not possible to accurately determine what the performance would be if the two business segments were managed on a stand-alone basis. Further, because financial and risk management is a dynamic process, the performance of a segment over a single identified period may not reflect the long-term expected or actual future trends for the segment. | ||||||||||||
The Traditional Member Finance segment includes products such as Advances and investments and the borrowing costs related to those assets. The FHLBank assigns its investments to this segment primarily because they historically have been used to provide liquidity for Advances and to support the level and volatility of earnings from Advances. Income from the MPP is derived primarily from the difference, or spread, between the yield on mortgage loans and the borrowing cost of Consolidated Obligations outstanding allocated to this segment at the time debt is issued. Both segments also earn income from investment of interest-free capital. Capital is allocated proportionate to each segment's average assets based on the total balance sheet's average capital-to-assets ratio. Expenses are allocated based on cost accounting techniques that include direct usage, time allocations and square footage of space used. AHP assessments are calculated using the current assessment rates based on the income before assessments for each segment. All interest rate swaps, including their market value adjustments, are allocated to the Traditional Member Finance segment because the FHLBank has not executed interest rate swaps in its management of the MPP's market risk. All derivatives classified as mandatory delivery commitments and forward rate agreements are allocated to the MPP segment. | ||||||||||||
The following tables set forth the FHLBank's financial performance by operating segment for the years ended December 31. | ||||||||||||
Table 18.1 - Financial Performance by Operating Segment (in thousands) | ||||||||||||
For the Years Ended December 31, | ||||||||||||
Traditional Member | MPP | Total | ||||||||||
Finance | ||||||||||||
2014 | ||||||||||||
Net interest income | $ | 237,828 | $ | 79,148 | $ | 316,976 | ||||||
Reversal for credit losses | — | (500 | ) | (500 | ) | |||||||
Net interest income after reversal for credit losses | 237,828 | 79,648 | 317,476 | |||||||||
Non-interest income | 22,460 | 170 | 22,630 | |||||||||
Non-interest expense | 58,876 | 9,372 | 68,248 | |||||||||
Income before assessments | 201,412 | 70,446 | 271,858 | |||||||||
Affordable Housing Program assessments | 20,560 | 7,045 | 27,605 | |||||||||
Net income | $ | 180,852 | $ | 63,401 | $ | 244,253 | ||||||
Average assets | $ | 94,333,213 | $ | 6,824,283 | $ | 101,157,496 | ||||||
Total assets | $ | 99,629,924 | $ | 7,010,495 | $ | 106,640,419 | ||||||
2013 | ||||||||||||
Net interest income | $ | 229,559 | $ | 98,285 | $ | 327,844 | ||||||
Reversal for credit losses | — | (7,450 | ) | (7,450 | ) | |||||||
Net interest income after reversal for credit losses | 229,559 | 105,735 | 335,294 | |||||||||
Non-interest income (loss) | 30,505 | (10,714 | ) | 19,791 | ||||||||
Non-interest expense | 55,459 | 8,928 | 64,387 | |||||||||
Income before assessments | 204,605 | 86,093 | 290,698 | |||||||||
Affordable Housing Program assessments | 21,011 | 8,609 | 29,620 | |||||||||
Net income | $ | 183,594 | $ | 77,484 | $ | 261,078 | ||||||
Average assets | $ | 86,609,248 | $ | 7,081,377 | $ | 93,690,625 | ||||||
Total assets | $ | 96,336,915 | $ | 6,843,787 | $ | 103,180,702 | ||||||
2012 | ||||||||||||
Net interest income | $ | 209,636 | $ | 98,484 | $ | 308,120 | ||||||
Provision for credit losses | — | 1,459 | 1,459 | |||||||||
Net interest income after provision for credit losses | 209,636 | 97,025 | 306,661 | |||||||||
Non-interest income | 12,930 | 482 | 13,412 | |||||||||
Non-interest expense | 50,082 | 7,888 | 57,970 | |||||||||
Income before assessments | 172,484 | 89,619 | 262,103 | |||||||||
Affordable Housing Program assessments | 18,417 | 8,962 | 27,379 | |||||||||
Net income | $ | 154,067 | $ | 80,657 | $ | 234,724 | ||||||
Average assets | $ | 58,707,558 | $ | 7,994,445 | $ | 66,702,003 | ||||||
Total assets | $ | 74,003,271 | $ | 7,558,879 | $ | 81,562,150 | ||||||
Fair_Value_Disclosures
Fair Value Disclosures | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 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, certain Advances 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 years ended December 31, 2014 or 2013. | ||||||||||||||||||||||||
Table 19.1 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 19.1 - Fair Value Summary (in thousands) | ||||||||||||||||||||||||
31-Dec-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 | $ | 3,109,970 | $ | 3,109,970 | $ | 3,109,970 | $ | — | $ | — | $ | — | ||||||||||||
Interest-bearing deposits | 119 | 119 | — | 119 | — | — | ||||||||||||||||||
Securities purchased under agreements to resell | 3,343,000 | 3,343,002 | — | 3,343,002 | — | — | ||||||||||||||||||
Federal funds sold | 6,600,000 | 6,600,000 | — | 6,600,000 | — | — | ||||||||||||||||||
Trading securities | 1,341 | 1,341 | — | 1,341 | — | — | ||||||||||||||||||
Available-for-sale securities | 1,349,977 | 1,349,977 | — | 1,349,977 | — | — | ||||||||||||||||||
Held-to-maturity securities | 14,712,271 | 14,794,326 | — | 14,794,326 | — | — | ||||||||||||||||||
Advances (2) | 70,405,616 | 70,279,438 | — | 70,279,438 | — | — | ||||||||||||||||||
Mortgage loans held for portfolio, | 6,984,683 | 7,219,198 | — | 7,178,047 | 41,151 | — | ||||||||||||||||||
net | ||||||||||||||||||||||||
Accrued interest receivable | 81,384 | 81,384 | — | 81,384 | — | — | ||||||||||||||||||
Derivative assets | 14,699 | 14,699 | — | 24,531 | — | (9,832 | ) | |||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Deposits | 729,936 | 729,782 | — | 729,782 | — | — | ||||||||||||||||||
Consolidated Obligations: | ||||||||||||||||||||||||
Discount Notes | 41,232,127 | 41,224,739 | — | 41,224,739 | — | — | ||||||||||||||||||
Bonds (3) | 59,216,557 | 59,496,247 | — | 59,496,247 | — | — | ||||||||||||||||||
Mandatorily redeemable capital | 62,963 | 62,963 | 62,963 | — | — | — | ||||||||||||||||||
stock | ||||||||||||||||||||||||
Accrued interest payable | 114,781 | 114,781 | — | 114,781 | — | — | ||||||||||||||||||
Derivative liabilities | 63,767 | 63,767 | — | 149,634 | — | (85,867 | ) | |||||||||||||||||
Other: | ||||||||||||||||||||||||
Standby bond purchase agreements | — | 1,381 | — | 1,381 | — | — | ||||||||||||||||||
-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) $15,042 of Advances recorded under the fair value option at December 31, 2014. | |||||||||||||||||||||||
-3 | Includes (in thousands) $4,209,640 of Consolidated Obligation Bonds recorded under the fair value option at December 31, 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 agreements to resell | 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 Obligation Bonds recorded under the fair value option at December 31, 2013. | |||||||||||||||||||||||
Summary of Valuation Methodologies and Primary Inputs. | ||||||||||||||||||||||||
Cash and due from banks: The fair value equals the carrying value. | ||||||||||||||||||||||||
Interest-bearing deposits: The fair value is determined based on each security's quoted prices, excluding accrued interest, as of the last business day of the period. | ||||||||||||||||||||||||
Securities purchased under agreements to resell: The fair value of overnight securities purchased under agreements to resell approximates the carrying value. The fair value of term securities purchased under agreements to resell is determined by calculating the present value of the future cash flows and reducing the amount for accrued interest receivable. The discount rates used in these calculations are the rates for securities with similar terms. Based on the fair value of the related collateral held, the securities purchased under agreements to resell were fully collateralized for the periods presented. | ||||||||||||||||||||||||
Federal funds sold: The fair value of overnight Federal funds sold approximates the carrying value. The fair value of term Federal funds sold is determined by calculating the present value of the expected future cash flows. The discount rates used in these calculations are the rates for Federal funds with similar terms, as approximated by adding an estimated current spread to the LIBOR Swap Curve for Federal funds with similar terms. The fair value excludes accrued interest. | ||||||||||||||||||||||||
Trading securities: The FHLBank's trading portfolio generally consists of mortgage-backed securities issued by Ginnie Mae. Quoted market prices in active markets are not available for these securities. | ||||||||||||||||||||||||
To value mortgage-backed security holdings, the FHLBank obtains prices from four designated third-party pricing vendors, when available. The pricing vendors use various proprietary models to price mortgage-backed securities. 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. Because many mortgage-backed securities do not trade on a daily basis, the pricing vendors use available information such as benchmark curves, benchmarking of like securities, sector groupings and matrix pricing to determine the prices for individual securities. Each pricing vendor has an established challenge process in place for all mortgage-backed security valuations, which facilitates resolution of potentially erroneous prices identified by the FHLBank. | ||||||||||||||||||||||||
The FHLBank has conducted reviews of the pricing methods employed by the third-party vendors, to confirm and further augment its understanding of the vendors' pricing processes, methodologies and control procedures for specific instruments. | ||||||||||||||||||||||||
The FHLBank's valuation technique first requires the establishment of a “median” price for each security. If four prices are received, the average of the middle two prices is 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 security are outside the tolerance threshold level of the median price, then there is no default price, and the final price is determined by an evaluation of all outlier prices as described above. | ||||||||||||||||||||||||
Four vendor prices were received for most of the FHLBank's mortgage-backed security holdings and the final prices for those securities 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 further that the fair value measurements are classified appropriately in the fair value hierarchy. | ||||||||||||||||||||||||
Available-for-sale securities: The FHLBank's available-for-sale portfolio generally consists of certificates of deposit. Quoted market prices in active markets are not available for these securities. Therefore, the fair value is determined based on each security's indicative fair value obtained from a third-party vendor. The FHLBank performs several validation steps in order to verify the accuracy and reasonableness of these fair values. These steps may include, but are not limited to, a detailed review of instruments with significant periodic price changes and a derived fair value from an option-adjusted discounted cash flow methodology using market-observed inputs for the interest rate environment and similar instruments. | ||||||||||||||||||||||||
Held-to-maturity securities: The FHLBank's held-to-maturity portfolio generally consists of discount notes issued by Freddie Mac and/or Fannie Mae (non-mortgage-backed securities), and mortgage-backed securities. Quoted market prices are not available for these securities. The fair value for each individual mortgage-backed security is determined by using the third-party vendor approach described above. In general, in order to determine the fair value of its non-mortgage backed securities, the FHLBank can use either (a) an income approach based on a market-observable interest rate curve that may be adjusted for a spread, or (b) prices received from third-party pricing vendors. The income approach uses indicative fair values derived from a discounted cash flow methodology. The FHLBank believes that both methodologies result in fair values that are reasonable and similar in all material respects based on the nature of the financial instruments being measured. | ||||||||||||||||||||||||
For its discount notes issued by Freddie Mac, and/or Fannie Mae, the FHLBank determines the fair value using the income approach. The market-observable interest rate curve used by the FHLBank includes the U.S. Government Agency Fair Value Curve. | ||||||||||||||||||||||||
Advances: The FHLBank determines the fair values of Advances by calculating the present value of expected future cash flows from the Advances excluding accrued interest. The discount rates used in these calculations are the replacement rates for Advances with similar terms, as approximated either by adding an estimated current spread to the LIBOR Swap Curve or by using current indicative market yields, as indicated by the FHLBank's pricing methodologies for Advances with similar current terms. Advance pricing is determined based on the FHLBank's rates on Consolidated Obligations. In accordance with Finance Agency regulations, Advances with a maturity and repricing period greater than six months require a prepayment fee sufficient to make the FHLBank financially indifferent to the borrower's decision to prepay the Advances. Therefore, the fair value of Advances does not assume prepayment risk. | ||||||||||||||||||||||||
For swapped option-based Advances, the fair value is determined (independently of the related derivative) by the discounted cash flow methodology based on the LIBOR Swap Curve and forward rates at period end adjusted for the estimated current spread on new swapped Advances to the swap curve. For swapped Advances with a conversion option, the conversion option is valued by taking into account the LIBOR Swap Curve and forward rates at period end and the market's expectations of future interest rate volatility implied from current market prices of similar options. | ||||||||||||||||||||||||
Mortgage loans held for portfolio, net: The fair values of performing mortgage loans are determined based on quoted market prices offered to approved members as indicated by the FHLBank's MPP pricing methodologies for mortgage loans with similar current terms excluding accrued interest. The quoted prices offered to members are based on Fannie Mae price indications on to-be-announced (TBA) mortgage-backed securities and FHA price indications on government-guaranteed loans. The FHLBank then adjusts these indicative prices to account for particular features of the FHLBank's MPP that differ from the Fannie Mae and FHA securities. These features include, but may not be limited to, the MPP's credit enhancements, and marketing adjustments that reflect the FHLBank's cooperative business model and preferences for particular kinds of loans and mortgage note rates. These quoted prices, however, can change rapidly based upon market conditions and are highly dependent upon the underlying prepayment assumptions. In order to determine the fair values, the loan amounts are also reduced for the FHLBank's estimate of expected net credit losses. The fair value of conventional mortgage loans 90 days or more delinquent are based on the estimated values of the underlying collateral or the present value of future cash flows and as such are classified as Level 3 in the fair value hierarchy. | ||||||||||||||||||||||||
Accrued interest receivable and payable: The fair value approximates the carrying value. | ||||||||||||||||||||||||
Derivative assets/liabilities: The FHLBank's derivative assets/liabilities generally consist of interest rate swaps, TBA mortgage-backed securities (forward rate agreements), and mortgage delivery commitments. The FHLBank's interest rate swaps are traded in the over-the-counter market. Therefore, the FHLBank determines the fair value of each individual interest rate swap using market value models that use readily observable market inputs as their basis (inputs that are actively quoted and can be validated to external sources). The FHLBank uses a mid-market pricing convention as a practical expedient for fair value measurements within a bid-ask spread. These models reflect the contractual terms of the interest rate swaps, including the period to maturity, as well as the significant inputs noted below. The fair value determination uses the standard valuation technique of discounted cash flow analysis. | ||||||||||||||||||||||||
The FHLBank performs several validation steps to verify the reasonableness of the fair value output generated by the primary market value model. In addition to an annual model validation, the FHLBank prepares a monthly reconciliation of the model's fair values to estimates of fair values provided by the derivative counterparties. The FHLBank believes these processes provide a reasonable basis for it to place continued reliance on the derivative fair values generated by the model. | ||||||||||||||||||||||||
The fair value of TBA mortgage-backed securities is based on independent indicative and/or quoted prices generated by market transactions involving comparable instruments. The FHLBank determines the fair value of mortgage delivery commitments using market prices from the TBA/mortgage-backed security market or TBA/Ginnie Mae market and adjustments noted below. | ||||||||||||||||||||||||
The FHLBank's discounted cash flow analysis uses market-observable inputs. Inputs, by class of derivative, are as follows: | ||||||||||||||||||||||||
Interest-rate swaps: | ||||||||||||||||||||||||
▪ | Discount rate assumption. Overnight Index Swap Curve; | |||||||||||||||||||||||
▪ | Forward interest rate assumption. LIBOR Swap Curve; and | |||||||||||||||||||||||
▪ | Volatility assumption. Market-based expectations of future interest rate volatility implied from current market prices for similar options. | |||||||||||||||||||||||
TBA mortgage-backed securities: | ||||||||||||||||||||||||
▪ | Market-based prices by coupon class and expected term until settlement. | |||||||||||||||||||||||
Mortgage delivery commitments: | ||||||||||||||||||||||||
▪ | TBA securities prices. Market-based prices by coupon class and expected term until settlement, adjusted to reflect the contractual terms of the mortgage delivery commitments, similar to the mortgage loans held for portfolio process. The adjustments to the market prices are market observable, or can be corroborated with observable market data. | |||||||||||||||||||||||
The FHLBank is subject to credit risk due to the risk of nonperformance by counterparties to its derivative transactions. For bilateral derivatives, the degree of credit risk depends on the extent to which master netting arrangements are included in these contracts to mitigate the risk. In addition, the FHLBank requires collateral agreements with collateral delivery thresholds on its bilateral derivatives. The FHLBank has evaluated the potential for the fair value of the instruments to be impacted by counterparty credit risk and has determined that no adjustments were significant or necessary to the overall fair value measurements. | ||||||||||||||||||||||||
The fair values of the FHLBank's derivatives include accrued interest receivable/payable and related cash collateral remitted to/received from counterparties. The estimated fair values of the accrued interest receivable/payable and cash collateral approximate their carrying values due to their short-term nature. Derivatives are presented on a net basis by counterparty when it has met the netting requirements. If these netted amounts are positive, they are classified as an asset and if negative, they are classified as a liability. | ||||||||||||||||||||||||
Deposits: The FHLBank determines the fair values of FHLBank deposits with fixed rates by calculating the present value of expected future cash flows from the deposits and reducing this amount for accrued interest payable. The discount rates used in these calculations are the cost of deposits with similar terms. | ||||||||||||||||||||||||
Consolidated Obligations: The FHLBank determines the fair values of Discount Notes by calculating the present value of expected future cash flows from the Discount Notes excluding accrued interest. The discount rates used in these calculations are current replacement rates for Discount Notes with similar current terms, as approximated by adding an estimated current spread to the LIBOR Swap Curve. Each month's cash flow is discounted at that month's replacement rate. | ||||||||||||||||||||||||
The FHLBank determines the fair values of non-option-based 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 option-based 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. | ||||||||||||||||||||||||
Adjustments may be necessary to reflect the 12 FHLBanks' credit quality when valuing Consolidated Obligation Bonds measured at fair value. Due to the joint and several liability for Consolidated Obligations, the FHLBank monitors its own creditworthiness and the creditworthiness of the other FHLBanks to determine whether any credit adjustments are necessary in its fair value measurement of Consolidated Obligation Bonds. No adjustments were considered necessary at December 31, 2014 or 2013. | ||||||||||||||||||||||||
Mandatorily redeemable capital stock: The fair value of capital stock subject to mandatory redemption is par value for the dates presented, as indicated by member contemporaneous purchases and sales at par value. FHLBank stock can only be acquired by members at par value and redeemed at par value. FHLBank stock is not traded and no market mechanism exists for the exchange of stock outside the cooperative structure. | ||||||||||||||||||||||||
Commitments: The fair values of standby bond purchase agreements are based on the present value of the estimated fees taking into account the remaining terms of the agreements. | ||||||||||||||||||||||||
Subjectivity of estimates. Estimates of the fair values of financial assets and liabilities using the methods described above and other methods are highly subjective and require judgments regarding significant matters such as the amount and timing of future cash flows, prepayment speeds, interest rate volatility, distributions of future interest rates used to value options, and discount rates that appropriately reflect market and credit risks. The judgments also include the parameters, methods, and assumptions used in models to value the options. The use of different assumptions could have a material effect on the fair value estimates. Since these estimates are made as of a specific point in time, they are susceptible to material near term changes. | ||||||||||||||||||||||||
Fair Value Measurements. | ||||||||||||||||||||||||
Table 19.2 presents the fair value of financial assets and liabilities, which are recorded on a recurring basis at December 31, 2014 or 2013, by level within the fair value hierarchy. | ||||||||||||||||||||||||
Table 19.2 - Fair Value Measurements (in thousands) | ||||||||||||||||||||||||
Fair Value Measurements at December 31, 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 single-family mortgage-backed securities | $ | 1,341 | $ | — | $ | 1,341 | $ | — | $ | — | ||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||
Certificates of deposit | 1,349,977 | — | 1,349,977 | — | — | |||||||||||||||||||
Advances | 15,042 | — | 15,042 | — | — | |||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||
Interest rate swaps | 10,894 | — | 20,726 | — | (9,832 | ) | ||||||||||||||||||
Forward rate agreements | 6 | — | 6 | — | — | |||||||||||||||||||
Mortgage delivery commitments | 3,799 | — | 3,799 | — | — | |||||||||||||||||||
Total derivative assets | 14,699 | — | 24,531 | — | (9,832 | ) | ||||||||||||||||||
Total assets at fair value | $ | 1,381,059 | $ | — | $ | 1,390,891 | $ | — | $ | (9,832 | ) | |||||||||||||
Recurring fair value measurements - Liabilities | ||||||||||||||||||||||||
Consolidated Obligation Bonds | $ | 4,209,640 | $ | — | $ | 4,209,640 | $ | — | $ | — | ||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||
Interest rate swaps | 58,842 | — | 144,709 | — | (85,867 | ) | ||||||||||||||||||
Forward rate agreement | 4,924 | — | 4,924 | — | — | |||||||||||||||||||
Mortgage delivery commitments | 1 | — | 1 | — | — | |||||||||||||||||||
Total derivative liabilities | 63,767 | — | 149,634 | — | (85,867 | ) | ||||||||||||||||||
Total liabilities at fair value | $ | 4,273,407 | $ | — | $ | 4,359,274 | $ | — | $ | (85,867 | ) | |||||||||||||
-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. | |||||||||||||||||||||||
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 single-family 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 | $ | 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. | |||||||||||||||||||||||
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 Advances and 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 19.3 – Fair Value Option - Financial Assets and Liabilities (in thousands) | ||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Advances | Consolidated Bonds | Advances | Consolidated Bonds | Advances | Consolidated Bonds | |||||||||||||||||||
Balance at beginning of period | $ | — | $ | (4,018,370 | ) | $ | — | $ | (3,402,366 | ) | $ | — | $ | (4,900,296 | ) | |||||||||
New transactions elected for fair value option | 15,000 | (6,480,000 | ) | — | (4,015,000 | ) | — | (3,365,000 | ) | |||||||||||||||
Maturities and terminations | — | 6,285,000 | — | 3,400,000 | — | 4,860,000 | ||||||||||||||||||
Net gains on financial instruments held under fair value option | 20 | 2,154 | — | 330 | — | 1,939 | ||||||||||||||||||
Change in accrued interest | 22 | 1,576 | — | (1,334 | ) | — | 991 | |||||||||||||||||
Balance at end of period | $ | 15,042 | $ | (4,209,640 | ) | $ | — | $ | (4,018,370 | ) | $ | — | $ | (3,402,366 | ) | |||||||||
Table 19.4 – Changes in Fair Values for Items Measured at Fair Value Pursuant to the Election of the Fair Value Option (in thousands) | ||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Advances | Consolidated Bonds | Advances | Consolidated Bonds | Advances | Consolidated Bonds | |||||||||||||||||||
Interest income (expense) | $ | 82 | $ | (5,899 | ) | $ | — | $ | (4,914 | ) | $ | — | $ | (8,934 | ) | |||||||||
Net gains on changes in fair value under fair value option | 20 | 2,154 | — | 330 | — | 1,939 | ||||||||||||||||||
Total changes in fair value included in current period earnings | $ | 102 | $ | (3,745 | ) | $ | — | $ | (4,584 | ) | $ | — | $ | (6,995 | ) | |||||||||
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 gains on financial instruments 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 December 31, 2014 or 2013. | ||||||||||||||||||||||||
The following table reflects the difference between the aggregate unpaid principal balance outstanding and the aggregate fair value for Advances and Consolidated Bonds for which the fair value option has been elected. | ||||||||||||||||||||||||
Table 19.5 – Aggregate Unpaid Balance and Aggregate Fair Value (in thousands) | ||||||||||||||||||||||||
December 31, 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 | |||||||||||||||||||
Advances (1) | $ | 15,000 | $ | 15,042 | $ | 42 | $ | — | $ | — | $ | — | ||||||||||||
Consolidated Bonds | 4,210,000 | 4,209,640 | (360 | ) | 4,015,000 | 4,018,370 | 3,370 | |||||||||||||||||
-1 | At December 31, 2014 and 2013, none of the Advances were 90 days or more past due or had been placed on non-accrual status. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||
Commitments and Contingencies [Text Block] | Commitments and Contingencies | |||||||||||||||||||||||
As previously described, Consolidated Obligations are backed only by the financial resources of the FHLBanks. The joint and several liability Finance Agency regulation authorizes the Finance Agency to require any FHLBank to repay all or a portion of the principal and interest on Consolidated Obligations for which another FHLBank is the primary obligor. No FHLBank has ever been asked or required to repay the principal or interest on any Consolidated Obligation on behalf of another FHLBank, and as of December 31, 2014, and through the filing date of this report, the FHLBank does not believe that it is probable that it will be asked to do so. | ||||||||||||||||||||||||
The FHLBank determined that it was not necessary to recognize a liability for the fair values of its joint and several obligation related to other FHLBanks' Consolidated Obligations at December 31, 2014 or 2013. The joint and several obligations are mandated by Finance Agency regulations and are not the result of arms-length transactions among the FHLBanks. The FHLBanks have no control over the amount of the guaranty or the determination of how each FHLBank would perform under the joint and several obligation. | ||||||||||||||||||||||||
Table 20.1 - Off-Balance Sheet Commitments (in thousands) | ||||||||||||||||||||||||
December 31, 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 | $ | 17,233,206 | $ | 546,385 | $ | 17,779,591 | $ | 13,317,887 | $ | 154,086 | $ | 13,471,973 | ||||||||||||
Commitments for standby bond purchases | 37,490 | 149,705 | 187,195 | 10,960 | 273,025 | 283,985 | ||||||||||||||||||
Commitments to purchase mortgage loans | 451,292 | — | 451,292 | 36,620 | — | 36,620 | ||||||||||||||||||
Unsettled Consolidated Bonds, at par (1)(2) | 17,000 | — | 17,000 | 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. | |||||||||||||||||||||||
-2 | Of the total unsettled Consolidated Bonds, $17,000 and $0 (in thousands) were hedged with associated interest rate swaps at December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||
Standby Letters of Credit. A Standby Letter of Credit is a financing arrangement between the FHLBank and its member. Standby Letters of Credit are executed for members for a fee. If the FHLBank is required to make payment for a beneficiary's draw, the payment amount is converted into a collateralized Advance to the member. The original terms of these Standby Letters of Credit range from less than 1 month to 19 years. Unearned fees and the value of guarantees related to Standby Letters of Credit are recorded in other liabilities and amounted to (in thousands) $4,441 and $3,145 at December 31, 2014 and 2013. | ||||||||||||||||||||||||
The FHLBank monitors the creditworthiness of its members that have Standby Letters of Credit. In addition, Standby Letters of Credit are fully collateralized at the time of issuance. As a result, the FHLBank has deemed it unnecessary to record any additional liability on these commitments. | ||||||||||||||||||||||||
Standby Bond Purchase Agreements. 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 bonds according to a schedule established by the standby agreement. Each standby agreement dictates the specific terms that would require the FHLBank to purchase the bonds. The bond purchase commitments entered into by the FHLBank have original expiration periods up to 6 years, currently no later than 2017, although some are renewable at the option of the FHLBank. During 2014 and 2013, the FHLBank was not required to purchase any bonds under these agreements. | ||||||||||||||||||||||||
Commitments to Purchase Mortgage Loans. The FHLBank enters into commitments that unconditionally obligate the FHLBank to purchase mortgage loans. Commitments are generally for periods not to exceed 90 days. The delivery commitments are recorded as derivatives at their fair values. | ||||||||||||||||||||||||
Pledged Collateral. The FHLBank may pledge securities, as collateral, related to derivatives. See Note 11 - Derivatives and Hedging Activities for additional information about the FHLBank's pledged collateral and other credit-risk-related contingent features. | ||||||||||||||||||||||||
Lease Commitments. The FHLBank charged to operating expenses net rental and related costs of approximately $1,816,000, $1,713,000, and $1,905,000 for the years ending December 31, 2014, 2013, and 2012. | ||||||||||||||||||||||||
Table 20.2 - Future Minimum Rentals for Operating Leases (in thousands) | ||||||||||||||||||||||||
Year | Premises | Equipment | Total | |||||||||||||||||||||
2015 | $ | 831 | $ | 146 | $ | 977 | ||||||||||||||||||
2016 | 755 | 143 | 898 | |||||||||||||||||||||
2017 | 758 | 143 | 901 | |||||||||||||||||||||
2018 | 777 | 72 | 849 | |||||||||||||||||||||
2019 | 796 | — | 796 | |||||||||||||||||||||
Thereafter | 5,865 | — | 5,865 | |||||||||||||||||||||
Total | $ | 9,782 | $ | 504 | $ | 10,286 | ||||||||||||||||||
Lease agreements for FHLBank premises generally provide for increases in the basic rentals resulting from increases in property taxes and maintenance expenses. Such increases are not expected to have a material effect on the FHLBank. | ||||||||||||||||||||||||
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. The FHLBank would record an accrual for a loss contingency when it is probable that a loss has been incurred and the amount can be reasonably estimated. 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 | 12 Months Ended | |||||||||||
Dec. 31, 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 December 31, 2014, 2013, or 2012. The following table details the average daily balance of lending and borrowing between the FHLBank and other FHLBanks for the years ended December 31. | ||||||||||||
Table 21.1 - Lending and Borrowing Between the FHLBank and Other FHLBanks (in thousands) | ||||||||||||
Average Daily Balances for the Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Loans to other FHLBanks | $ | 438 | $ | 3,740 | $ | 2,514 | ||||||
Borrowings from other FHLBanks | 68 | 4,110 | 273 | |||||||||
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 are no formal arrangements governing the transfer of Consolidated Obligations between the FHLBanks, and these transfers are not investments of one FHLBank in another FHLBank. Transferring debt at current market rates enables the FHLBank System to satisfy the debt issuance needs of individual FHLBanks without incurring the additional selling expenses (concession fees) associated with new debt. It also provides the transferring FHLBanks with outlets for extinguishing debt structures no longer required for their balance sheet management strategies. | ||||||||||||
There were no Consolidated Obligations transferred to the FHLBank during the years ended December 31, 2014, 2013, or 2012. The FHLBank had no Consolidated Obligations transferred to other FHLBanks during these periods. |
Transactions_with_Stockholders
Transactions with Stockholders | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Transactions with Stockholders [Abstract] | |||||||||||||||
Transactions with Stockholders [Text Block] | Transactions with Stockholders | ||||||||||||||
As a cooperative, the FHLBank's capital stock is owned by its members, by former members that retain the stock as provided in the FHLBank's Capital Plan and by nonmember institutions that have acquired members and must retain the stock to support Advances or other activities with the FHLBank. All Advances are issued to members and all mortgage loans held for portfolio are purchased from members. The FHLBank also maintains demand deposit accounts for members, primarily to facilitate settlement activities that are directly related to Advances and mortgage loan purchases. Additionally, the FHLBank may enter into interest rate swaps with its stockholders. The FHLBank may not invest in any equity securities issued by its stockholders and it has not purchased any mortgage-backed securities securitized by, or other direct long-term investments in, its stockholders. | |||||||||||||||
For financial statement purposes, the FHLBank defines related parties as those members with more than 10 percent of the voting interests of the FHLBank capital stock outstanding. Federal legislation prescribes the voting rights of members in the election of both member and independent directors. For member directorships, the Finance Agency designates the number of member directorships in a given year and an eligible voting member may vote only for candidates seeking election in its respective state. For independent directorships, the FHLBank's Board of Directors nominates candidates to be placed on the ballot in an at-large election. For both member and independent directorship elections, a member is entitled to vote one share of required capital stock, subject to a statutory limitation, for each applicable directorship. Under this limitation, the total number of votes that a member may cast is limited to the average number of shares of the FHLBank's capital stock that were required to be held by all members in that state as of the record date for voting. Nonmember stockholders are not eligible to vote in director elections. Due to the abovementioned statutory limitation, no member owned more than 10 percent of the voting interests of the FHLBank at December 31, 2014 or 2013. | |||||||||||||||
All transactions with stockholders are entered into in the ordinary course of business. Finance Agency regulations require the FHLBank to offer the same pricing for Advances and other services to all members regardless of asset or transaction size, charter type, or geographic location. However, the FHLBank may, in pricing its Advances, distinguish among members based upon its assessment of the credit and other risks to the FHLBank of lending to any particular member or upon other reasonable criteria that may be applied equally to all members. The FHLBank's policies and procedures require that such standards and criteria be applied consistently and without discrimination to all members applying for Advances. | |||||||||||||||
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. The FHLBank had no mortgage-backed securities or derivatives transactions with Directors' Financial Institutions at December 31, 2014 and 2013. | |||||||||||||||
Table 22.1 - Transactions with Directors' Financial Institutions (dollars in millions) | |||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Balance | % of Total (1) | Balance | % of Total (1) | ||||||||||||
Advances | $ | 2,929 | 4.2 | % | $ | 1,611 | 2.5 | % | |||||||
MPP | 154 | 2.3 | 57 | 0.9 | |||||||||||
Regulatory capital stock | 225 | 5.2 | 246 | 5.1 | |||||||||||
-1 | Percentage of total principal (Advances), unpaid principal balance (MPP), and regulatory capital stock. | ||||||||||||||
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 22.2 - Stockholders Holding Five Percent or more of Regulatory Capital Stock (dollars in millions) | |||||||||||||||
Regulatory Capital Stock | Advance | MPP Unpaid | |||||||||||||
December 31, 2014 | Balance | % of Total | Principal | Principal Balance | |||||||||||
JPMorgan Chase Bank, N.A. | $ | 1,533 | 35 | % | $ | 41,300 | $ | — | |||||||
U.S. Bank, N.A. | 475 | 11 | 8,338 | 38 | |||||||||||
Fifth Third Bank | 248 | 6 | 24 | 3 | |||||||||||
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 | |||||||||||
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 December 31, 2014 or 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. For the years ended December 31, 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) | 12 Months Ended |
Dec. 31, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | The FHLBank's accounting and financial reporting policies conform to accounting principles generally accepted in the United States of America (GAAP). |
Cash and Cash Equivalents, Policy [Policy Text Block] | In the Statements of Cash Flows, the FHLBank considers non-interest bearing cash and due from banks as cash and cash equivalents. Federal funds sold are not treated as cash equivalents for purposes of the Statements of Cash Flows, but are instead treated as short-term investments and are reflected in the investing activities section of the Statements of Cash Flows. |
Subsequent Events, Policy [Policy Text Block] | 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. |
Use of Estimates, Policy [Policy Text Block] | The preparation of financial statements in accordance with GAAP requires management to make subjective assumptions and estimates. These assumptions and estimates affect the reported amounts 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. |
Fair Value Measurement, Policy [Policy Text Block] | Some of the FHLBank's financial instruments lack an available trading market with prices characterized as those that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. Therefore, the FHLBank uses pricing services and/or internal models employing significant estimates and present value calculations when disclosing fair values. |
Interest Bearing Deposits, Securities Purchased Under Agreements To Resell And Federal Funds Sold [Policy Text Block] [Policy Text Block] | These investments provide short-term liquidity and are carried at cost. Interest bearing deposits include certificates of deposits (CDs) not meeting the definition of an investment security. The FHLBank treats securities purchased under agreements to resell as short-term collateralized loans, which are classified as assets in the Statements of Condition. Securities purchased under agreements to resell are held in safekeeping in the name of the FHLBank by third-party custodians approved by the FHLBank. If the market value of the underlying securities decrease below the market value required as collateral, the counterparty has the option to (1) place an equivalent amount of additional securities in safekeeping in the name of the FHLBank or (2) remit an equivalent amount of cash. Federal funds sold consist of short-term, unsecured loans generally transacted with counterparties that are considered by the FHLBank to be of investment quality. |
Marketable Securities, Trading Securities, Policy [Policy Text Block] | Securities classified as trading are acquired for liquidity purposes and asset/liability management and carried at fair value. The FHLBank records changes in the fair value of these securities through other income as a net gain or loss on trading securities. However, the FHLBank does not participate in speculative trading practices and holds these investments indefinitely as management periodically evaluates its liquidity needs. |
Marketable Securities, Available-for-sale Securities, Policy [Policy Text Block] | Securities that are not classified as held-to-maturity or trading are classified as available-for-sale and are carried at fair value. The change in fair value of available-for-sale securities is recorded in other comprehensive income as a net unrealized gain or loss on available-for-sale securities. |
Marketable Securities, Held-to-maturity Securities, Policy [Policy Text Block] | Securities that the FHLBank has both the ability and intent to hold to maturity are classified as held-to-maturity and are carried at amortized cost, representing the amount at which an investment is acquired adjusted for periodic principal repayments, amortization of premiums and accretion of discounts. |
Investment, Policy [Policy Text Block] | Premiums and Discounts. The FHLBank amortizes purchased premiums and accretes purchased discounts on mortgage-backed securities and other investment categories with a term of greater than one year using the retrospective level-yield method (retrospective method). The retrospective method requires that the FHLBank estimate prepayments over the estimated life of the securities and make a retrospective adjustment of the effective yield each time that the FHLBank changes the estimated life and/or prepayments as if the new estimate had been known since the original acquisition date of the securities. The FHLBank uses nationally recognized third-party prepayment models to project estimated cash flows. Due to their short term nature, the FHLBank amortizes premiums and accretes discounts on other investment categories with a term of one year or less using a straight-line methodology based on the contractual maturity of the securities. Analyses of the straight-line compared to the level-yield methodology have been performed by the FHLBank and it has determined that the impact of the difference on the financial statements for each period reported, taken individually and as a whole, is not material. |
Gains and Losses on Sales. The FHLBank computes gains and losses on sales of investment securities using the specific identification method and includes these gains and losses in other income. | |
Federal Home Loan Bank Advances, Policy [Policy Text Block] | The FHLBank reports Advances (loans to members, former members or housing associates) either at amortized cost or at fair value when the fair value option is elected. Advances carried at amortized cost are reported net of premiums, discounts (including discounts on Advances related to the Affordable Housing Program (AHP), as discussed below), unearned commitment fees and hedging adjustments. The FHLBank amortizes the premiums and accretes the discounts on Advances to interest income using a level-yield methodology. The FHLBank records interest on Advances to income as earned. For Advances carried at fair value, interest income is recognized based on the contractual interest rate. |
Advance Modifications. In cases in which the FHLBank funds a new Advance concurrent with or within a short period of time before or after the prepayment of an existing Advance, the FHLBank evaluates whether the new Advance meets the accounting criteria to qualify as a modification of an existing Advance or whether it constitutes a new Advance. The FHLBank compares the present value of cash flows on the new Advance to the present value of cash flows remaining on the existing Advance. If there is at least a 10 percent difference in the cash flows, or if the FHLBank concludes the differences between the Advances are more than minor based on qualitative factors, the Advance is accounted for as a new Advance. In all other instances, the new Advance is accounted for as a modification. | |
Prepayment Fees. The FHLBank charges a borrower a prepayment fee when the borrower prepays certain Advances before the original maturity. The FHLBank records prepayment fees, net of basis adjustments related to hedging activities included in the carrying value of the Advances, as “Prepayment fees on Advances, net” in the interest income section of the Statements of Income. | |
If a new Advance qualifies as a modification of the existing Advance, the net prepayment fee on the prepaid Advance is deferred, recorded in the basis of the modified Advance, and amortized/accreted using a level-yield methodology over the life of the modified Advance to Advance interest income. | |
For prepaid Advances that are hedged and meet the hedge accounting requirements, the FHLBank terminates the hedging relationship upon prepayment and records the associated fair value gains and losses, adjusted for the prepayment fees, in interest income. If the FHLBank funds a new Advance to a member concurrent with or within a short period of time after the prepayment of a previous Advance to that member, the FHLBank evaluates whether the new Advance qualifies as a modification of the original hedged Advance. If the new Advance qualifies as a modification of the original hedged Advance, the fair value gains or losses of the Advance and the prepayment fees are included in the carrying amount of the modified Advance, and gains or losses and prepayment fees are amortized in interest income over the life of the modified Advance using a level-yield methodology. If the modified Advance also is hedged and the hedge meets the hedging criteria, the modified Advance is marked to fair value after the modification, and subsequent fair value changes are recorded in other income. | |
If a new Advance does not qualify as a modification of an existing Advance, it is treated as an Advance termination with subsequent funding of a new Advance and the existing fees, net of related hedging adjustments, are recorded in interest income as “Prepayment fees on Advances, net.” | |
The FHLBank defers commitment fees for Advances and amortizes them to interest income using a level-yield methodology. Refundable fees are deferred until the commitment expires or until the Advance is made. The FHLBank records commitment fees for Standby Letters of Credit as a deferred credit when it receives the fees and accretes them using a straight-line methodology over the term of the Standby Letter of Credit. Based upon past experience, the FHLBank's management believes that the likelihood of Standby Letters of Credit being drawn upon is remote. | |
Finance, Loan and Lease Receivables, Held-for-investment, Policy [Policy Text Block] | The FHLBank classifies mortgage loans as held for portfolio and, accordingly, reports them at their principal amount outstanding net of unamortized premiums and discounts and mark-to-market basis adjustments on loans initially classified as mortgage loan commitments. The FHLBank has the intent and ability to hold these mortgage loans to maturity. |
Loans and Leases Receivable, Origination Fees, Discounts or Premiums, and Direct Costs to Acquire Loans Policy [Policy Text Block] | The FHLBank defers and amortizes premiums and accretes discounts paid to and received by the FHLBank's participating members (Participating Financial Institutions, or PFIs) and mark-to-market basis adjustments, as interest income using the retrospective method. The FHLBank aggregates the mortgage loans by similar characteristics (type, maturity, note rate and acquisition date) in determining prepayment estimates for the retrospective method. |
Other Fees. The FHLBank may receive non-origination fees, called pair-off fees. Pair-off fees represent a make-whole provision and are assessed when a member fails to deliver the quantity of loans committed to in a Mandatory Delivery Contract. Pair-off fees are recorded in other income. A Mandatory Delivery Contract is a legal commitment the FHLBank makes to purchase, and a PFI makes to deliver, a specified dollar amount of mortgage loans, with a forward settlement date, at a specified range of mortgage note rates and prices. | |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | An allowance for credit losses is separately established for each identified portfolio segment, if it is probable that a loss triggering event has occurred in the FHLBank's portfolio as of the Statements of Condition date and the amount of loss can be reasonably estimated. To the extent necessary, an allowance for credit losses for off-balance sheet credit exposures is recorded as a liability. See Note 10 for details on each allowance methodology. |
Portfolio Segments. A portfolio segment is defined as the level at which an entity develops and documents a systematic methodology for determining its allowance for credit losses. The FHLBank has developed and documented a systematic methodology for determining an allowance for credit losses, where applicable, for (1) Advances, letters of credit and other extensions of credit to members, collectively referred to as “credit products”; (2) Federal Housing Administration mortgage loans held for portfolio; and (3) conventional mortgage loans held for portfolio. | |
Classes of Financing Receivables. Classes of financing receivables generally are a disaggregation of a portfolio segment to the extent needed to understand the exposure to credit risk arising from these financing receivables. The FHLBank determined that no further disaggregation of the portfolio segments identified above is needed as the credit risk arising from these financing receivables is assessed and measured by the FHLBank at the portfolio segment level. | |
Loans and Leases Receivable, Nonaccrual Loan and Lease Status, Policy [Policy Text Block] | Loans that are on non-accrual status and that are considered collateral-dependent are measured for impairment based on the fair value of the underlying property (net of estimated selling costs) and the amount of applicable credit enhancements. Loans are considered collateral-dependent if repayment is expected to be provided solely by the sale of the underlying property, that is, there is no other available and reliable source of repayment. Collateral-dependent loans are impaired if the fair value of the underlying collateral is insufficient to recover the unpaid principal balance on the loan. Interest income on impaired loans is recognized in the same manner as non-accrual loans noted below. |
Non-accrual Loans. The FHLBank places a conventional mortgage loan on non-accrual status if it is determined that either (1) the collection of interest or principal is doubtful (e.g., when a related allowance for credit losses is recorded on a loan considered to be a troubled debt restructuring as a result of the individual evaluation for impairment), or (2) interest or principal is past due for 90 days or more, except when the loan is well-secured and in the process of collection (e.g., through credit enhancements and with monthly settlements on a schedule/scheduled basis). Loans with settlements on a schedule/scheduled basis means the FHLBank receives monthly principal and interest payments from the servicer regardless of whether the mortgagee is making payments to the servicer. Loans with monthly settlement on an actual/actual basis are considered well-secured; however, servicers of actual/actual loan types contractually do not advance principal and interest regardless of borrower creditworthiness. As a result, these loans are placed on non-accrual status once they become 90 days delinquent. | |
For those mortgage loans placed on non-accrual status, accrued but uncollected interest is reversed against interest income. The FHLBank records cash payments received on non-accrual loans first as interest income and then as a reduction of principal as specified in the contractual agreement, unless the collection of the remaining principal amount due is considered doubtful. If the collection of the remaining principal amount due is considered doubtful, cash payments received are applied first solely to principal until the remaining principal amount due is expected to be collected and then as a recovery of any charge-off, if applicable, followed by recording interest income. A loan on non-accrual status may be restored to accrual status when (1) none of its contractual principal and interest is due and unpaid, and the FHLBank expects repayment of the remaining contractual interest and principal, or (2) it otherwise becomes well secured and in the process of collection. | |
Property, Plant and Equipment, Policy [Policy Text Block] | The FHLBank records premises, software and equipment at cost less accumulated depreciation and amortization. The FHLBank's accumulated depreciation and amortization related to these items was $18,556,000 and $19,161,000 at December 31, 2014 and 2013. The FHLBank computes depreciation on a straight-line methodology over the estimated useful lives of assets ranging from three to ten years. The FHLBank amortizes leasehold improvements on a straight-line basis over the shorter of the estimated useful life of the improvement or the remaining term of the lease. The FHLBank capitalizes improvements and major renewals but expenses ordinary maintenance and repairs when incurred. |
Internal Use Software, Policy [Policy Text Block] | The cost of computer software developed or obtained for internal use is capitalized and amortized over future periods. |
Derivatives, Embedded Derivatives [Policy Text Block] | The FHLBank may issue debt, make Advances, or purchase financial instruments in which a derivative instrument is “embedded.” Upon execution of these transactions, the FHLBank assesses whether the economic characteristics of the embedded derivative are clearly and closely related to the economic characteristics of the remaining component of the Advance, debt, or purchased financial instrument (the host contract) and whether a separate, non-embedded instrument with the same terms as the embedded instrument would meet the definition of a derivative instrument. When the FHLBank determines that (1) the embedded derivative has economic characteristics that are not clearly and closely related to the economic characteristics of the host contract and (2) a separate, stand-alone instrument with the same terms would qualify as a derivative instrument, the embedded derivative is separated from the host contract, carried at fair value, and designated as a stand-alone derivative instrument pursuant to an economic hedge. However, the entire contract is carried at fair value and no portion of the contract is designated as a hedging instrument if the entire contract (the host contract and the embedded derivative) is to be measured at fair value, with changes in fair value reported in current-period earnings (such as an investment security classified as “trading” as well as hybrid financial instruments that are selected for the fair value option), or if the FHLBank cannot reliably identify and measure the embedded derivative for purposes of separating that derivative from its host contract. |
Derivatives, Hedge Discontinuances [Policy Text Block] | The FHLBank discontinues hedge accounting prospectively when: (1) it determines that the derivative is no longer effective in offsetting changes in the fair value of a hedged item attributable to the hedged risk; (2) the derivative and/or the hedged item expires or is sold, terminated, or exercised; or (3) management determines that designating the derivative as a hedging instrument is no longer appropriate. |
When hedge accounting is discontinued because the FHLBank determines that the derivative no longer qualifies as an effective fair value hedge of an existing hedged item, the FHLBank continues to carry the derivative on the Statements of Condition at its fair value, ceases to adjust the hedged asset or liability for changes in fair value, and amortizes the cumulative basis adjustment on the hedged item into earnings over the remaining life of the hedged item using a level-yield methodology. | |
Debt, Policy [Policy Text Block] | Consolidated Obligations are recorded at amortized cost unless the FHLBank has elected the fair value option, in which case the Consolidated Obligations are carried at fair value. |
Concessions. Dealers receive concessions in connection with the issuance of certain Consolidated Obligations. The Office of Finance prorates the amount of the concession to the FHLBank based upon the percentage of the debt issued that is assumed by the FHLBank. Concessions paid on Consolidated Obligations designated under the fair value option are expensed as incurred in other non-interest expense. Concessions paid on Consolidated Obligation Bonds not designated under the fair value option are deferred and amortized, using a level-yield methodology, over the terms to maturity or the expected lives of the Consolidated Obligation Bonds. Unamortized concessions are included in “Other assets,” and the amortization of those concessions is included in Consolidated Obligation Bond interest expense. | |
The FHLBank charges to expense as incurred the concessions applicable to Consolidated Obligation Discount Notes because of the short maturities of these Notes. Analyses of expensing concessions as incurred compared to a level-yield methodology have been performed by the FHLBank and it has determined that the impact of the difference on the financial statements for each period reported, taken individually and as a whole, is not material. | |
Discounts and Premiums. The FHLBank accretes the discounts and amortizes the premiums on Consolidated Obligation Bonds to interest expense using a level-yield methodology over the terms to maturity or estimated lives of the corresponding Consolidated Obligation Bonds. Due to their short-term nature, it expenses the discounts on Consolidated Obligation Discount Notes using a straight-line methodology over the term of the Notes. Analyses of a straight-line compared to a level-yield methodology have been performed by the FHLBank, and the FHLBank has determined that the impact of the difference on the financial statements for each period reported, taken individually and as a whole, is not material. | |
Shares Subject to Mandatory Redemption, Changes in Redemption Value, Policy [Policy Text Block] | The FHLBank reclassifies stock subject to redemption from equity to liability upon expiration of the “grace period” after a member provides written notice of redemption, gives notice of intent to withdraw from membership, or attains nonmember status by merger or acquisition, charter termination, or involuntary termination from membership, because the member shares then meet the definition of a mandatorily redeemable financial instrument. Shares meeting this definition are reclassified to a liability at fair value. Dividends declared on shares classified as a liability are accrued at the expected dividend rate and reflected as interest expense in the Statements of Income. The repurchase or redemption of mandatorily redeemable capital stock is reflected as a cash outflow in the financing activities section of the Statements of Cash Flows. |
If a member cancels its written notice of redemption or notice of withdrawal, the FHLBank reclassifies the mandatorily redeemable capital stock from a liability to equity. After the reclassification, dividends on the capital stock are no longer classified as interest expense. | |
Regulator Expenses Cost Assessed On Federal Home Loan Bank, Policy [Policy Text Block] | The FHLBank funds its proportionate share of the costs of operating the Finance Agency. The portion of the Finance Agency's expenses and working capital fund paid by each FHLBank has been allocated based on the FHLBank's pro rata share of total annual assessments (which are based on the ratio between each FHLBank's minimum required regulatory capital and the aggregate minimum required regulatory capital of every FHLBank). |
Office Of Finance Cost Assessed On Federal Home Loan Bank, Policy [Policy Text Block] | The FHLBank is assessed for its proportionate share of the costs of operating the Office of Finance. Each FHLBank's proportionate share of Office of Finance operating and capital expenditures is calculated using a formula that is based upon the following components: (1) two-thirds based upon each FHLBank's share of total Consolidated Obligations outstanding and (2) one-third based upon an equal pro rata allocation. |
Federal Home Loan Bank Assessments, Policy [Policy Text Block] | The FHLBank Act requires each FHLBank to establish and fund an AHP. The FHLBank charges the required funding for AHP to earnings and establishes a liability. The AHP funds provide subsidies to members to assist in the purchase, construction, or rehabilitation of housing for very low-, low-, and moderate-income households. The FHLBank issues AHP Advances at interest rates below the customary interest rate for non-subsidized Advances. When the FHLBank makes an AHP Advance, the present value of the variation in the cash flow caused by the difference in the interest rate between the AHP Advance rate and the FHLBank's related cost of funds for comparable maturity funding is charged against the AHP liability and recorded as a discount on the AHP Advance. As an alternative, the FHLBank also has the authority to make the AHP subsidy available to members as a grant. The discount on AHP Advances is accreted to interest income on Advances using a level-yield methodology over the life of the Advance. |
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. Therefore, the FHLBank only has credit risk for these loans if the seller or servicer fails to pay for losses not covered by the FHA 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 available credit enhancements. 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. | |
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, 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 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. | |
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. The FHLBank, as an interest rate spread manager, considers a segment's net interest income, net interest rate spread and, ultimately, net income as the key factors in allocating resources. Resource allocation decisions are made by considering these profitability measures in the context of the historical, current and expected risk profile of each segment and the entire balance sheet, as well as current incremental profitability measures relative to the incremental market risk profile. |
Overall financial performance and risk management are dynamically managed primarily at the level of, and within the context of, the entire balance sheet rather than at the level of individual business segments or product lines. Also, the FHLBank hedges specific asset purchases and specific subportfolios in the context of the entire mortgage asset portfolio and the entire balance sheet. Under this holistic approach, the market risk/return profile of each business segment does not correspond, in general, to the performance that each segment would generate if it were completely managed on a separate basis, and it is not possible to accurately determine what the performance would be if the two business segments were managed on a stand-alone basis. Further, because financial and risk management is a dynamic process, the performance of a segment over a single identified period may not reflect the long-term expected or actual future trends for the segment. | |
The Traditional Member Finance segment includes products such as Advances and investments and the borrowing costs related to those assets. The FHLBank assigns its investments to this segment primarily because they historically have been used to provide liquidity for Advances and to support the level and volatility of earnings from Advances. Income from the MPP is derived primarily from the difference, or spread, between the yield on mortgage loans and the borrowing cost of Consolidated Obligations outstanding allocated to this segment at the time debt is issued. Both segments also earn income from investment of interest-free capital. Capital is allocated proportionate to each segment's average assets based on the total balance sheet's average capital-to-assets ratio. Expenses are allocated based on cost accounting techniques that include direct usage, time allocations and square footage of space used. AHP assessments are calculated using the current assessment rates based on the income before assessments for each segment. All interest rate swaps, including their market value adjustments, are allocated to the Traditional Member Finance segment because the FHLBank has not executed interest rate swaps in its management of the MPP's market risk. All derivatives classified as mandatory delivery commitments and forward rate agreements are allocated to the MPP segment. | |
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. |
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. |
Trading_Securities_Tables
Trading Securities (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 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 | December 31, 2014 | December 31, 2013 | ||||||||||
Mortgage-backed securities: | ||||||||||||
Other U.S. obligation single-family mortgage-backed securities (1) | $ | 1,341 | $ | 1,578 | ||||||||
Total | $ | 1,341 | $ | 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) | |||||||||||
For the Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Net (losses) gains on trading securities held at period end | $ | (9 | ) | $ | (19 | ) | $ | 8 | ||||
Net losses on securities matured during the period | — | — | (32,778 | ) | ||||||||
Net losses on trading securities | $ | (9 | ) | $ | (19 | ) | $ | (32,770 | ) |
AvailableforSale_Securities_Ta
Available-for-Sale Securities (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 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) | |||||||||||||||
December 31, 2014 | ||||||||||||||||
Amortized | Gross | Gross | Fair | |||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||
Gains | (Losses) | |||||||||||||||
Certificates of deposit | $ | 1,350,001 | $ | 3 | $ | (27 | ) | $ | 1,349,977 | |||||||
Total | $ | 1,350,001 | $ | 3 | $ | (27 | ) | $ | 1,349,977 | |||||||
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) | |||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||
Year of Maturity | Amortized | Fair | Amortized | Fair | ||||||||||||
Cost | Value | Cost | Value | |||||||||||||
Due in one year or less | $ | 1,350,001 | $ | 1,349,977 | $ | 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) | |||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||
Amortized cost of available-for-sale securities: | ||||||||||||||||
Fixed-rate | $ | 1,350,001 | $ | 2,185,000 | ||||||||||||
HeldtoMaturity_Securities_Tabl
Held-to-Maturity Securities (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 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) | |||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||
Amortized Cost (1) | Gross Unrecognized Holding | Gross Unrecognized Holding (Losses) | Fair Value | |||||||||||||||||||||
Gains | ||||||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||||
Government-sponsored enterprises (GSE) (2) | $ | 26,099 | $ | — | $ | — | $ | 26,099 | ||||||||||||||||
Total non-mortgage-backed securities | 26,099 | — | — | 26,099 | ||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||
Other U.S. obligation single-family | 2,038,960 | 10,021 | (1,017 | ) | 2,047,964 | |||||||||||||||||||
mortgage-backed securities (3) | ||||||||||||||||||||||||
GSE single-family mortgage-backed securities (4) | 12,647,212 | 191,870 | (118,819 | ) | 12,720,263 | |||||||||||||||||||
Total mortgage-backed securities | 14,686,172 | 201,891 | (119,836 | ) | 14,768,227 | |||||||||||||||||||
Total | $ | 14,712,271 | $ | 201,891 | $ | (119,836 | ) | $ | 14,794,326 | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Amortized Cost (1) | Gross Unrecognized Holding | Gross Unrecognized Holding (Losses) | Fair Value | |||||||||||||||||||||
Gains | ||||||||||||||||||||||||
Non-mortgage-backed securities: | ||||||||||||||||||||||||
GSE (2) | $ | 27,485 | $ | 1 | $ | — | $ | 27,486 | ||||||||||||||||
Total non-mortgage-backed securities | 27,485 | 1 | — | 27,486 | ||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||
Other U.S. obligation single-family | 1,909,099 | 4,545 | (26,396 | ) | 1,887,248 | |||||||||||||||||||
mortgage-backed securities (3) | ||||||||||||||||||||||||
GSE single-family mortgage-backed securities (4) | 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 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. | |||||||||||||||||||||||
-3 | 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. | |||||||||||||||||||||||
-4 | 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. | |||||||||||||||||||||||
Realized Gain (Loss) on Investments [Table Text Block] | Proceeds from Sale and Gains on Held-to-Maturity Securities (in thousands) | |||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Proceeds from sale of held-to-maturity securities | $ | — | $ | — | $ | 507,531 | ||||||||||||||||||
Gross gains from sale of held-to-maturity securities | — | — | 29,292 | |||||||||||||||||||||
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) | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Premiums | $ | 24,473 | $ | 32,458 | ||||||||||||||||||||
Discounts | (51,357 | ) | (58,658 | ) | ||||||||||||||||||||
Net purchased discounts | $ | (26,884 | ) | $ | (26,200 | ) | ||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | Held-to-Maturity Securities in a Continuous Unrealized Loss Position (in thousands) | |||||||||||||||||||||||
December 31, 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 single-family | $ | — | $ | — | $ | 197,625 | $ | (1,017 | ) | $ | 197,625 | $ | (1,017 | ) | ||||||||||
mortgage-backed securities (1) | ||||||||||||||||||||||||
GSE single-family mortgage-backed securities (2) | 631,907 | (1,348 | ) | 5,555,049 | (117,471 | ) | 6,186,956 | (118,819 | ) | |||||||||||||||
Total | $ | 631,907 | $ | (1,348 | ) | $ | 5,752,674 | $ | (118,488 | ) | $ | 6,384,581 | $ | (119,836 | ) | |||||||||
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 single-family | $ | 663,278 | $ | (26,396 | ) | $ | — | $ | — | $ | 663,278 | $ | (26,396 | ) | ||||||||||
mortgage-backed securities (1) | ||||||||||||||||||||||||
GSE single-family 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) | |||||||||||||||||||||||
December 31, 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 | $ | 26,099 | $ | 26,099 | $ | 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 | 26,099 | 26,099 | 27,485 | 27,486 | ||||||||||||||||||||
Mortgage-backed securities (2) | 14,686,172 | 14,768,227 | 16,059,677 | 15,780,911 | ||||||||||||||||||||
Total | $ | 14,712,271 | $ | 14,794,326 | $ | 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) | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Amortized cost of non-mortgage-backed securities: | ||||||||||||||||||||||||
Fixed-rate | $ | 26,099 | $ | 27,485 | ||||||||||||||||||||
Total amortized cost of non-mortgage-backed securities | 26,099 | 27,485 | ||||||||||||||||||||||
Amortized cost of mortgage-backed securities: | ||||||||||||||||||||||||
Fixed-rate | 12,091,591 | 13,048,808 | ||||||||||||||||||||||
Variable-rate | 2,594,581 | 3,010,869 | ||||||||||||||||||||||
Total amortized cost of mortgage-backed securities | 14,686,172 | 16,059,677 | ||||||||||||||||||||||
Total | $ | 14,712,271 | $ | 16,087,162 | ||||||||||||||||||||
Advances_Advances_Tables
Advances Advances (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Advances [Abstract] | |||||||||||||||
Schedule Of Federal Home Loan Bank Advances By Year Of Contractual Maturity [Table Text Block] | Advances by Interest Rate Payment Terms (in thousands) | ||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Fixed-rate (1) | |||||||||||||||
Due in one year or less | $ | 8,638,946 | $ | 6,706,181 | |||||||||||
Due after one year | 9,306,104 | 8,774,636 | |||||||||||||
Total fixed-rate (1) | 17,945,050 | 15,480,817 | |||||||||||||
Variable-rate (1) | |||||||||||||||
Due in one year or less | 5,500,684 | 10,580,389 | |||||||||||||
Due after one year | 46,852,773 | 39,031,564 | |||||||||||||
Total variable-rate (1) | 52,353,457 | 49,611,953 | |||||||||||||
Total par value | $ | 70,298,507 | $ | 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 by Year of Contractual Maturity or Next Put/Convert Date for Putable/Convertible Advances (in thousands) | |||||||||||||||
Year of Contractual Maturity or Next Put/Convert Date | December 31, 2014 | December 31, 2013 | |||||||||||||
Overdrawn demand deposit accounts | $ | — | $ | 150 | |||||||||||
Due in 1 year or less | 15,753,030 | 19,681,750 | |||||||||||||
Due after 1 year through 2 years | 14,663,847 | 6,424,970 | |||||||||||||
Due after 2 years through 3 years | 12,115,860 | 9,338,558 | |||||||||||||
Due after 3 years through 4 years | 13,649,722 | 8,582,710 | |||||||||||||
Due after 4 years through 5 years | 10,715,119 | 11,256,887 | |||||||||||||
Thereafter | 3,400,929 | 9,807,745 | |||||||||||||
Total par value | $ | 70,298,507 | $ | 65,092,770 | |||||||||||
Advances by Year of Contractual Maturity or Next Call Date for Callable Advances (in thousands) | |||||||||||||||
Year of Contractual Maturity or Next Call Date | December 31, 2014 | December 31, 2013 | |||||||||||||
Overdrawn demand deposit accounts | $ | — | $ | 150 | |||||||||||
Due in 1 year or less | 23,003,946 | 25,109,451 | |||||||||||||
Due after 1 year through 2 years | 12,159,384 | 5,300,184 | |||||||||||||
Due after 2 years through 3 years | 9,659,975 | 7,149,237 | |||||||||||||
Due after 3 years through 4 years | 12,295,893 | 7,050,325 | |||||||||||||
Due after 4 years through 5 years | 9,970,280 | 10,877,078 | |||||||||||||
Thereafter | 3,209,029 | 9,606,345 | |||||||||||||
Total par value | $ | 70,298,507 | $ | 65,092,770 | |||||||||||
Advance Redemption Terms (dollars in thousands) | |||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Redemption Term | Amount | Weighted Average Interest | Amount | Weighted Average Interest | |||||||||||
Rate | Rate | ||||||||||||||
Overdrawn demand deposit accounts | $ | — | — | % | $ | 150 | 0.2 | % | |||||||
Due in 1 year or less | 14,139,630 | 0.4 | 17,729,350 | 0.42 | |||||||||||
Due after 1 year through 2 years | 14,810,847 | 0.54 | 6,614,470 | 0.63 | |||||||||||
Due after 2 years through 3 years | 12,829,760 | 0.69 | 9,485,558 | 0.64 | |||||||||||
Due after 3 years through 4 years | 14,222,722 | 0.6 | 9,444,110 | 0.81 | |||||||||||
Due after 4 years through 5 years | 10,724,619 | 0.54 | 11,831,887 | 0.61 | |||||||||||
Thereafter | 3,570,929 | 1.51 | 9,987,245 | 0.78 | |||||||||||
Total par value | 70,298,507 | 0.6 | 65,092,770 | 0.62 | |||||||||||
Commitment fees | (699 | ) | (750 | ) | |||||||||||
Discount on AHP Advances | (12,110 | ) | (14,953 | ) | |||||||||||
Premiums | 3,058 | 3,413 | |||||||||||||
Discounts | (12,572 | ) | (14,104 | ) | |||||||||||
Hedging adjustments | 129,390 | 204,014 | |||||||||||||
Fair value option valuation adjustments and accrued interest | 42 | — | |||||||||||||
Total | $ | 70,405,616 | $ | 65,270,390 | |||||||||||
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) | ||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Principal | % of Total | Principal | % of Total | ||||||||||||
JPMorgan Chase Bank, N.A. | $ | 41,300 | 59 | % | JPMorgan Chase Bank, N.A. | $ | 41,700 | 64 | % | ||||||
U.S. Bank, N.A. | 8,338 | 12 | U.S. Bank, N.A. | 4,584 | 7 | ||||||||||
Total | $ | 49,638 | 71 | % | Total | $ | 46,284 | 71 | % | ||||||
Mortgage_Loans_Held_for_Portfo1
Mortgage Loans Held for Portfolio (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Mortgage Loans on Real Estate [Abstract] | |||||||||||||||
Mortgage Loans Held for Portfolio [Table Text Block] | Mortgage Loans Held for Portfolio by Collateral/Guarantee Type (in thousands) | ||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Unpaid principal balance: | |||||||||||||||
Conventional mortgage loans | $ | 6,203,318 | $ | 5,897,804 | |||||||||||
Federal Housing Administration (FHA) mortgage loans | 592,686 | 745,395 | |||||||||||||
Total unpaid principal balance | $ | 6,796,004 | $ | 6,643,199 | |||||||||||
Mortgage Loans Held for Portfolio (in thousands) | |||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Unpaid principal balance: | |||||||||||||||
Fixed rate medium-term single-family mortgage loans (1) | $ | 1,393,525 | $ | 1,482,345 | |||||||||||
Fixed rate long-term single-family mortgage loans | 5,402,479 | 5,160,854 | |||||||||||||
Total unpaid principal balance | 6,796,004 | 6,643,199 | |||||||||||||
Premiums | 179,540 | 177,180 | |||||||||||||
Discounts | (2,460 | ) | (3,631 | ) | |||||||||||
Hedging basis adjustments (2) | 16,518 | 8,775 | |||||||||||||
Total mortgage loans held for portfolio | $ | 6,989,602 | $ | 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. | ||||||||||||||
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) | ||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Principal | % of Total | Principal | % of Total | ||||||||||||
Union Savings Bank | $ | 1,593 | 23 | % | Union Savings Bank | $ | 1,433 | 22 | % | ||||||
PNC Bank, N.A.(1) | 1,074 | 16 | PNC Bank, N.A. (1) | 1,356 | 20 | ||||||||||
Guardian Savings Bank FSB | 406 | 6 | |||||||||||||
-1 | Former member. |
Allowance_for_Credit_Losses_Ta
Allowance for Credit Losses (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 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) | |||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Balance, beginning of period | $ | 7,233 | $ | 17,907 | $ | 20,750 | ||||||||||||||||||
Charge-offs | (1,814 | ) | (3,224 | ) | (4,302 | ) | ||||||||||||||||||
(Reversal) provision for credit losses | (500 | ) | (7,450 | ) | 1,459 | |||||||||||||||||||
Balance, end of period | $ | 4,919 | $ | 7,233 | $ | 17,907 | ||||||||||||||||||
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) | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Allowance for credit losses, end of period: | ||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 4,766 | $ | 7,159 | ||||||||||||||||||||
Individually evaluated for impairment | 153 | 74 | ||||||||||||||||||||||
Total | $ | 4,919 | $ | 7,233 | ||||||||||||||||||||
Recorded investment, end of period: | ||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 6,402,994 | $ | 6,082,636 | ||||||||||||||||||||
Individually evaluated for impairment | 8,639 | 7,799 | ||||||||||||||||||||||
Total recorded investment | $ | 6,411,633 | $ | 6,090,435 | ||||||||||||||||||||
Changes in LRA [Table Text Block] | Changes in the LRA (in thousands) | |||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
LRA at beginning of year | $ | 115,236 | $ | 102,680 | $ | 68,684 | ||||||||||||||||||
Additions | 18,947 | 18,331 | 39,111 | |||||||||||||||||||||
Claims | (2,075 | ) | (4,118 | ) | (3,409 | ) | ||||||||||||||||||
Scheduled distributions | (2,895 | ) | (1,657 | ) | (1,706 | ) | ||||||||||||||||||
LRA at end of period | $ | 129,213 | $ | 115,236 | $ | 102,680 | ||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | Recorded Investment in Delinquent Mortgage Loans (dollars in thousands) | |||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||
Conventional MPP Loans | FHA Loans | Total | ||||||||||||||||||||||
Past due 30-59 days delinquent | $ | 49,053 | $ | 42,744 | $ | 91,797 | ||||||||||||||||||
Past due 60-89 days delinquent | 13,597 | 12,881 | 26,478 | |||||||||||||||||||||
Past due 90 days or more delinquent | 42,991 | 25,045 | 68,036 | |||||||||||||||||||||
Total past due | 105,641 | 80,670 | 186,311 | |||||||||||||||||||||
Total current mortgage loans | 6,305,992 | 522,042 | 6,828,034 | |||||||||||||||||||||
Total mortgage loans | $ | 6,411,633 | $ | 602,712 | $ | 7,014,345 | ||||||||||||||||||
Other delinquency statistics: | ||||||||||||||||||||||||
In process of foreclosure, included above (1) | $ | 34,854 | $ | 11,687 | $ | 46,541 | ||||||||||||||||||
Serious delinquency rate (2) | 0.68 | % | 4.27 | % | 0.99 | % | ||||||||||||||||||
Past due 90 days or more still accruing interest (3) | $ | 41,857 | $ | 25,045 | $ | 66,902 | ||||||||||||||||||
Loans on non-accrual status, included above | $ | 3,574 | $ | — | $ | 3,574 | ||||||||||||||||||
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 | December 31, 2014 | December 31, 2013 | ||||||||||||||||||||||
Conventional MPP Loans | $ | 8,639 | $ | 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) | |||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
Defaulted troubled debt restructurings | 2014 | 2013 | 2012 | |||||||||||||||||||||
Conventional MPP Loans | $ | 671 | $ | 793 | $ | — | ||||||||||||||||||
Individually Evaluated Impaired Loan Statistics by Product Class Level [Table Text Block] | Individually Evaluated Impaired Loan Statistics by Product Class Level (in thousands) | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Conventional MPP loans | Recorded Investment | Unpaid Principal Balance | Related Allowance | Recorded Investment | Unpaid Principal Balance | Related Allowance | ||||||||||||||||||
With no related | $ | 5,297 | $ | 5,165 | $ | — | $ | 4,959 | $ | 4,828 | $ | — | ||||||||||||
allowance | ||||||||||||||||||||||||
With an allowance | 3,342 | 3,293 | 153 | 2,840 | 2,801 | 74 | ||||||||||||||||||
Total | $ | 8,639 | $ | 8,458 | $ | 153 | $ | 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) | |||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Individually impaired loans | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||
Conventional MPP Loans | $ | 8,029 | $ | 417 | $ | 6,615 | $ | 348 | $ | 4,331 | $ | 228 | ||||||||||||
Derivatives_and_Hedging_Activi1
Derivatives and Hedging Activities (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 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) | |||||||||||||||
December 31, 2014 | ||||||||||||||||
Notional Amount of Derivatives | Derivative Assets | Derivative Liabilities | ||||||||||||||
Derivatives designated as fair value hedging instruments: | ||||||||||||||||
Interest rate swaps | $ | 4,301,547 | $ | 19,826 | $ | 138,150 | ||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||
Interest rate swaps | 4,635,000 | 900 | 6,559 | |||||||||||||
Forward rate agreements | 439,000 | 6 | 4,924 | |||||||||||||
Mortgage delivery commitments | 451,292 | 3,799 | 1 | |||||||||||||
Total derivatives not designated as hedging instruments | 5,525,292 | 4,705 | 11,484 | |||||||||||||
Total derivatives before netting and collateral adjustments | $ | 9,826,839 | 24,531 | 149,634 | ||||||||||||
Netting adjustments and cash collateral (1) | (9,832 | ) | (85,867 | ) | ||||||||||||
Total derivative assets and total derivative liabilities | $ | 14,699 | $ | 63,767 | ||||||||||||
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 and cash collateral (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 clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $78,755 and $109,288 at December 31, 2014 and 2013. Cash collateral received and related accrued interest was (in thousands) $2,720 and $19,423 at December 31, 2014 and 2013. | |||||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | Net Gains on Derivatives and Hedging Activities (in thousands) | |||||||||||||||
For the Years Ended December 31, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Derivatives and hedged items in fair value hedging relationships: | ||||||||||||||||
Interest rate swaps | $ | 5,127 | $ | 10,837 | $ | 6,864 | ||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||
Economic hedges: | ||||||||||||||||
Interest rate swaps | 628 | 7,456 | 3,771 | |||||||||||||
Forward rate agreements | (15,465 | ) | (845 | ) | (8,645 | ) | ||||||||||
Net interest settlements | 706 | 328 | (2,378 | ) | ||||||||||||
Mortgage delivery commitments | 15,631 | (9,873 | ) | 9,123 | ||||||||||||
Total net gains (losses) related to derivatives not designated as hedging instruments | 1,500 | (2,934 | ) | 1,871 | ||||||||||||
Net gains on derivatives and hedging activities | $ | 6,627 | $ | 7,903 | $ | 8,735 | ||||||||||
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) | |||||||||||||||
For the Years Ended December 31, | ||||||||||||||||
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 | $ | 76,295 | $ | (71,315 | ) | $ | 4,980 | $ | (91,232 | ) | ||||||
Consolidated Bonds | (15,633 | ) | 15,780 | 147 | 18,298 | |||||||||||
Total | $ | 60,662 | $ | (55,535 | ) | $ | 5,127 | $ | (72,934 | ) | ||||||
2013 | ||||||||||||||||
Hedged Item Type: | ||||||||||||||||
Advances | $ | 156,025 | $ | (145,843 | ) | $ | 10,182 | $ | (106,452 | ) | ||||||
Consolidated Bonds | (26,341 | ) | 26,996 | 655 | 27,038 | |||||||||||
Total | $ | 129,684 | $ | (118,847 | ) | $ | 10,837 | $ | (79,414 | ) | ||||||
2012 | ||||||||||||||||
Hedged Item Type: | ||||||||||||||||
Advances | $ | 268,944 | $ | (261,817 | ) | $ | 7,127 | $ | (244,836 | ) | ||||||
Consolidated Bonds | (8,666 | ) | 8,403 | (263 | ) | 36,763 | ||||||||||
Total | $ | 260,278 | $ | (253,414 | ) | $ | 6,864 | $ | (208,073 | ) | ||||||
-1 | The net effect of derivatives, in fair value hedge relationships, on net interest income is included in the interest income or interest expense line item of the respective hedged item type. These amounts include the effect of net interest settlements attributable to designated fair value hedges but do not include (in thousands) $(3,310), $(3,022), and $(3,566) of (amortization)/accretion related to fair value hedging activities for the years ended December 31, 2014, 2013, and 2012, respectively. | |||||||||||||||
Offsetting Assets and Liabilities [Table Text Block] | Offsetting of Derivative Assets and Derivative Liabilities (in thousands) | |||||||||||||||
December 31, 2014 | ||||||||||||||||
Derivative Assets | Derivative Liabilities | |||||||||||||||
Derivative instruments meeting netting requirements: | ||||||||||||||||
Gross recognized amount: | ||||||||||||||||
Bilateral derivatives | $ | 19,585 | $ | 141,352 | ||||||||||||
Cleared derivatives | 1,141 | 3,357 | ||||||||||||||
Total gross recognized amount | 20,726 | 144,709 | ||||||||||||||
Gross amounts of netting adjustments and cash collateral: | ||||||||||||||||
Bilateral derivatives | (19,544 | ) | (82,510 | ) | ||||||||||||
Cleared derivatives | 9,712 | (3,357 | ) | |||||||||||||
Total gross amounts of netting adjustments and cash collateral | (9,832 | ) | (85,867 | ) | ||||||||||||
Net amounts after netting adjustments and cash collateral: | ||||||||||||||||
Bilateral derivatives | 41 | 58,842 | ||||||||||||||
Cleared derivatives | 10,853 | — | ||||||||||||||
Total net amounts after netting adjustments and cash collateral | 10,894 | 58,842 | ||||||||||||||
Derivative instruments not meeting netting requirements(1): | ||||||||||||||||
Bilateral derivatives | 3,805 | 4,925 | ||||||||||||||
Total derivative instruments not meeting netting requirements(1) | 3,805 | 4,925 | ||||||||||||||
Total derivative assets and total derivative liabilities: | ||||||||||||||||
Bilateral derivatives | 3,846 | 63,767 | ||||||||||||||
Cleared derivatives | 10,853 | — | ||||||||||||||
Total derivative assets and total derivative liabilities | $ | 14,699 | $ | 63,767 | ||||||||||||
December 31, 2013 | ||||||||||||||||
Derivative Assets | Derivative Liabilities | |||||||||||||||
Bilateral 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) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Deposits [Abstract] | ||||||||
Schedule of Deposit Liabilities by Component [Table Text Block] | Deposits (in thousands) | |||||||
December 31, 2014 | December 31, 2013 | |||||||
Interest bearing: | ||||||||
Demand and overnight | $ | 624,446 | $ | 796,039 | ||||
Term | 99,600 | 96,100 | ||||||
Other | 5,592 | 5,872 | ||||||
Total interest bearing | 729,638 | 898,011 | ||||||
Non-interest bearing: | ||||||||
Other | 298 | 15,884 | ||||||
Total non-interest bearing | 298 | 15,884 | ||||||
Total deposits | $ | 729,936 | $ | 913,895 | ||||
Consolidated_Obligations_Table
Consolidated Obligations (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||
Schedule of Short-term Debt [Table Text Block] | Consolidated Discount Notes Outstanding (dollars in thousands) | ||||||||||||||
Book Value | Par Value | Weighted Average Interest Rate (1) | |||||||||||||
31-Dec-14 | $ | 41,232,127 | $ | 41,238,122 | 0.09 | % | |||||||||
31-Dec-13 | $ | 38,209,946 | $ | 38,216,860 | 0.09 | % | |||||||||
-1 | Represents an implied rate without consideration of concessions. | ||||||||||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | Consolidated Bonds Outstanding by Contractual Maturity (dollars in thousands) | ||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Year of Contractual Maturity | Amount | Weighted Average Interest Rate | Amount | Weighted Average Interest Rate | |||||||||||
Due in 1 year or less | $ | 32,477,000 | 0.24 | % | $ | 35,691,500 | 0.34 | % | |||||||
Due after 1 year through 2 years | 6,918,000 | 1.19 | 2,802,000 | 1.66 | |||||||||||
Due after 2 years through 3 years | 4,594,000 | 1.56 | 3,295,000 | 2.12 | |||||||||||
Due after 3 years through 4 years | 4,245,000 | 1.79 | 3,689,000 | 1.67 | |||||||||||
Due after 4 years through 5 years | 2,647,000 | 2.08 | 3,415,000 | 1.86 | |||||||||||
Thereafter | 8,217,000 | 2.79 | 9,102,000 | 2.66 | |||||||||||
Index amortizing notes | 25,297 | 5.07 | 32,746 | 5.07 | |||||||||||
Total par value | 59,123,297 | 1 | 58,027,246 | 1.04 | |||||||||||
Premiums | 103,477 | 123,820 | |||||||||||||
Discounts | (25,161 | ) | (22,781 | ) | |||||||||||
Hedging adjustments | 15,304 | 31,084 | |||||||||||||
Fair value option valuation adjustment and | (360 | ) | 3,370 | ||||||||||||
accrued interest | |||||||||||||||
Total | $ | 59,216,557 | $ | 58,162,739 | |||||||||||
Schedule Of Consolidated Obligation Bonds By Call Feature [Table Text Block] | Consolidated Bonds Outstanding by Call Features (in thousands) | ||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Par value of Consolidated Bonds: | |||||||||||||||
Non-callable | $ | 49,976,297 | $ | 46,670,246 | |||||||||||
Callable | 9,147,000 | 11,357,000 | |||||||||||||
Total par value | $ | 59,123,297 | $ | 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 | December 31, 2014 | December 31, 2013 | |||||||||||||
Due in 1 year or less | $ | 40,774,000 | $ | 41,493,500 | |||||||||||
Due after 1 year through 2 years | 5,413,000 | 3,827,000 | |||||||||||||
Due after 2 years through 3 years | 3,317,000 | 2,915,000 | |||||||||||||
Due after 3 years through 4 years | 2,685,000 | 2,427,000 | |||||||||||||
Due after 4 years through 5 years | 1,992,000 | 2,095,000 | |||||||||||||
Thereafter | 4,917,000 | 5,237,000 | |||||||||||||
Index amortizing notes | 25,297 | 32,746 | |||||||||||||
Total par value | $ | 59,123,297 | $ | 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) | ||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Par value of Consolidated Bonds: | |||||||||||||||
Fixed-rate | $ | 31,363,297 | $ | 29,362,246 | |||||||||||
Variable-rate | 27,610,000 | 28,650,000 | |||||||||||||
Step-up | 150,000 | 15,000 | |||||||||||||
Total par value | $ | 59,123,297 | $ | 58,027,246 | |||||||||||
Affordable_Housing_Program_AHP1
Affordable Housing Program (AHP) (Tables) | 12 Months Ended | |||||||
Dec. 31, 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) | |||||||
2014 | 2013 | |||||||
Balance at beginning of year | $ | 93,789 | $ | 82,672 | ||||
Assessments (current year additions) | 27,605 | 29,620 | ||||||
Subsidy uses, net | (23,291 | ) | (18,503 | ) | ||||
Balance at end of year | $ | 98,103 | $ | 93,789 | ||||
Capital_Tables
Capital (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Capital [Abstract] | ||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Capital Requirements (dollars in thousands) | |||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||
Minimum Requirement | Actual | Minimum Requirement | Actual | |||||||||||||
Risk-based capital | $ | 481,835 | $ | 5,018,567 | $ | 547,455 | $ | 5,435,002 | ||||||||
Capital-to-assets ratio (regulatory) | 4 | % | 4.71 | % | 4 | % | 5.27 | % | ||||||||
Regulatory capital | $ | 4,265,617 | $ | 5,018,567 | $ | 4,127,228 | $ | 5,435,002 | ||||||||
Leverage capital-to-assets ratio (regulatory) | 5 | % | 7.06 | % | 5 | % | 7.9 | % | ||||||||
Leverage capital | $ | 5,332,021 | $ | 7,527,851 | $ | 5,159,035 | $ | 8,152,503 | ||||||||
Schedule of Mandatorily Redeemable Capital Stock [Table Text Block] | Mandatorily Redeemable Capital Stock Roll Forward (in thousands) | |||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Balance, beginning of year | $ | 115,853 | $ | 210,828 | $ | 274,781 | ||||||||||
Capital stock subject to mandatory redemption reclassified | 17,110 | 33,457 | 40,126 | |||||||||||||
from equity | ||||||||||||||||
Redemption (or other reduction) of mandatorily redeemable | (70,000 | ) | (128,432 | ) | (104,079 | ) | ||||||||||
capital stock | ||||||||||||||||
Balance, end of year | $ | 62,963 | $ | 115,853 | $ | 210,828 | ||||||||||
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 | December 31, 2014 | December 31, 2013 | ||||||||||||||
Year 1 | $ | 130 | $ | 114,531 | ||||||||||||
Year 2 | — | 130 | ||||||||||||||
Year 3 | — | — | ||||||||||||||
Year 4 | 55 | — | ||||||||||||||
Year 5 | 2,278 | 71 | ||||||||||||||
Past contractual redemption date due to remaining activity(1) | 60,500 | 1,121 | ||||||||||||||
Total | $ | 62,963 | $ | 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) | 12 Months Ended | |||||||||||
Dec. 31, 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, DECEMBER 31, 2011 | $ | (1,014 | ) | $ | (9,987 | ) | $ | (11,001 | ) | |||
Other comprehensive income before reclassification: | ||||||||||||
Net unrealized gains | 1,014 | — | 1,014 | |||||||||
Net actuarial loss | — | (2,701 | ) | (2,701 | ) | |||||||
Reclassifications from other comprehensive income to net income: | ||||||||||||
Amortization - pension and postretirement benefits | — | 954 | 954 | |||||||||
Net current period other comprehensive income (loss) | 1,014 | (1,747 | ) | (733 | ) | |||||||
BALANCE, DECEMBER 31, 2012 | — | (11,734 | ) | (11,734 | ) | |||||||
Other comprehensive income before reclassification: | ||||||||||||
Net unrealized losses | (121 | ) | — | (121 | ) | |||||||
Net actuarial gain | — | 803 | 803 | |||||||||
Reclassifications from other comprehensive income to net income: | ||||||||||||
Amortization - pension and postretirement benefits | — | 2,010 | 2,010 | |||||||||
Net current period other comprehensive (loss) income | (121 | ) | 2,813 | 2,692 | ||||||||
BALANCE, DECEMBER 31, 2013 | (121 | ) | (8,921 | ) | (9,042 | ) | ||||||
Other comprehensive income before reclassification: | ||||||||||||
Net unrealized gains | 97 | — | 97 | |||||||||
Net actuarial loss | — | (9,496 | ) | (9,496 | ) | |||||||
Reclassifications from other comprehensive income to net income: | ||||||||||||
Amortization - pension and postretirement benefits | — | 1,845 | 1,845 | |||||||||
Net current period other comprehensive income (loss) | 97 | (7,651 | ) | (7,554 | ) | |||||||
BALANCE, DECEMBER 31, 2014 | $ | (24 | ) | $ | (16,572 | ) | $ | (16,596 | ) |
Pension_and_Postretirement_Ben1
Pension and Postretirement Benefit Plans (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||||||||||||||||||
Schedule of Net Funded Status [Table Text Block] | Pentegra Defined Benefit Plan Net Pension Cost and Funded Status (dollars in thousands) | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Net pension cost charged to compensation and benefit expense for | $ | 6,041 | $ | 5,516 | $ | 4,638 | ||||||||||||||||||
the year ended December 31 | ||||||||||||||||||||||||
Pentegra Defined Benefit Plan funded status as of July 1 | 111.31 | % | (a) | 101.31 | % | (b) | 108.39 | % | ||||||||||||||||
FHLBank's funded status as of July 1 | 128.27 | % | 107.36 | % | 110.48 | % | ||||||||||||||||||
(a) | The Pentegra Defined Benefit Plan's funded status as of July 1, 2014 is preliminary and may increase because the plan's participants were permitted to make contributions for the plan year ended June 30, 2014 through March 15, 2015. Contributions made on or before March 15, 2015, and designated for the plan year ended June 30, 2014, will be included in the final valuation as of July 1, 2014. The final funded status as of July 1, 2014 will not be available until the Form 5500 for the plan year July 1, 2014 through June 30, 2015 is filed (this Form 5500 is due to be filed no later than April 2016). | |||||||||||||||||||||||
(b) | The Pentegra Defined Benefit Plan's funded status as of July 1, 2013 is preliminary and may increase because the plan's participants were permitted to make contributions for the plan year ended June 30, 2013 through March 15, 2014. Contributions made on or before March 15, 2014, and designated for the plan year ended June 30, 2013, will be included in the final valuation as of July 1, 2013. The final funded status as of July 1, 2013 will not be available until the Form 5500 for the plan year July 1, 2013 through June 30, 2014 is filed (this Form 5500 is due to be filed no later than April 2015). | |||||||||||||||||||||||
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | Benefit Obligation, Fair Value of Plan Assets and Funded Status (in thousands) | |||||||||||||||||||||||
Defined Benefit Retirement Plan | Postretirement Benefits Plan | |||||||||||||||||||||||
Change in benefit obligation: | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||
Benefit obligation at beginning of year | $ | 26,511 | $ | 27,293 | $ | 3,957 | $ | 4,859 | ||||||||||||||||
Service cost | 524 | 494 | 53 | 58 | ||||||||||||||||||||
Interest cost | 1,234 | 986 | 190 | 199 | ||||||||||||||||||||
Actuarial loss (gain) | 8,335 | 215 | 1,161 | (1,018 | ) | |||||||||||||||||||
Benefits paid | (2,744 | ) | (2,477 | ) | (164 | ) | (141 | ) | ||||||||||||||||
Benefit obligation at end of year | 33,860 | 26,511 | 5,197 | 3,957 | ||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||
Fair value of plan assets at beginning of year | — | — | — | — | ||||||||||||||||||||
Employer contribution | 2,744 | 2,477 | 164 | 141 | ||||||||||||||||||||
Benefits paid | (2,744 | ) | (2,477 | ) | (164 | ) | (141 | ) | ||||||||||||||||
Fair value of plan assets at end of year | — | — | — | — | ||||||||||||||||||||
Funded status at end of year | $ | (33,860 | ) | $ | (26,511 | ) | $ | (5,197 | ) | $ | (3,957 | ) | ||||||||||||
Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block] | Amounts Recognized in Accumulated Other Comprehensive Income (in thousands) | |||||||||||||||||||||||
Defined Benefit Retirement Plan | Postretirement | |||||||||||||||||||||||
Benefits Plan | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Net actuarial loss (gain) | $ | 15,409 | $ | 8,919 | $ | 1,163 | $ | 2 | ||||||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | Net Periodic Benefit Cost and Other Amounts Recognized in Accumulated Other Comprehensive Income (in thousands) | |||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
Defined Benefit | Postretirement Benefits Plan | |||||||||||||||||||||||
Retirement Plan | ||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Net Periodic Benefit Cost | ||||||||||||||||||||||||
Service cost | $ | 524 | $ | 494 | $ | 578 | $ | 53 | $ | 58 | $ | 72 | ||||||||||||
Interest cost | 1,234 | 986 | 963 | 190 | 199 | 200 | ||||||||||||||||||
Amortization of net loss | 1,845 | 1,948 | 932 | — | 62 | 22 | ||||||||||||||||||
Net periodic benefit cost | 3,603 | 3,428 | 2,473 | 243 | 319 | 294 | ||||||||||||||||||
Other Changes in Benefit Obligations Recognized in Other Comprehensive Income | ||||||||||||||||||||||||
Net loss (gain) | 8,335 | 215 | 2,261 | 1,161 | (1,018 | ) | 440 | |||||||||||||||||
Amortization of net loss | (1,845 | ) | (1,948 | ) | (932 | ) | — | (62 | ) | (22 | ) | |||||||||||||
Total recognized in other comprehensive income | 6,490 | (1,733 | ) | 1,329 | 1,161 | (1,080 | ) | 418 | ||||||||||||||||
Total recognized in net periodic benefit cost and | $ | 10,093 | $ | 1,695 | $ | 3,802 | $ | 1,404 | $ | (761 | ) | $ | 712 | |||||||||||
other comprehensive income | ||||||||||||||||||||||||
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block] | Amortization for Next Fiscal Year (in thousands) | |||||||||||||||||||||||
Defined Benefit Retirement Plan | Postretirement Benefits Plan | |||||||||||||||||||||||
Net actuarial loss | $ | 2,405 | $ | 67 | ||||||||||||||||||||
Schedule of Assumptions Used [Table Text Block] | Net Periodic Benefit Cost Key Assumptions | |||||||||||||||||||||||
Defined Benefit Retirement Plan | Postretirement Benefits Plan | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Discount rate | 4.32 | % | 3.26 | % | 3.96 | % | 4.88 | % | 4.16 | % | 4.73 | % | ||||||||||||
Salary increases | 4.5 | % | 4.5 | % | 4.5 | % | N/A | N/A | N/A | |||||||||||||||
Benefit Obligation Key Assumptions | ||||||||||||||||||||||||
Defined Benefit Retirement Plan | Postretirement Benefits Plan | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Discount rate | 3.67 | % | 4.32 | % | 3.96 | % | 4.88 | % | ||||||||||||||||
Salary increases | 4.5 | % | 4.5 | % | N/A | N/A | ||||||||||||||||||
Schedule of Health Care Cost Trend Rates [Table Text Block] | Postretirement Benefits Plan Assumed Health Care Cost Trend Rates | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Assumed for next year | 8.5 | % | 9 | % | ||||||||||||||||||||
Ultimate rate | 5.25 | % | 5.25 | % | ||||||||||||||||||||
Year that ultimate rate is reached | 2024 | 2024 | ||||||||||||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | Estimated Future Benefit Payments (in thousands) | |||||||||||||||||||||||
Years | Defined Benefit Retirement Plan | Postretirement Benefit Plan | ||||||||||||||||||||||
2015 | $ | 2,874 | $ | 158 | ||||||||||||||||||||
2016 | 2,987 | 163 | ||||||||||||||||||||||
2017 | 2,225 | 178 | ||||||||||||||||||||||
2018 | 2,192 | 172 | ||||||||||||||||||||||
2019 | 2,296 | 181 | ||||||||||||||||||||||
2020 - 2024 | 8,825 | 1,165 | ||||||||||||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Segment Reporting [Abstract] | ||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Financial Performance by Operating Segment (in thousands) | |||||||||||
For the Years Ended December 31, | ||||||||||||
Traditional Member | MPP | Total | ||||||||||
Finance | ||||||||||||
2014 | ||||||||||||
Net interest income | $ | 237,828 | $ | 79,148 | $ | 316,976 | ||||||
Reversal for credit losses | — | (500 | ) | (500 | ) | |||||||
Net interest income after reversal for credit losses | 237,828 | 79,648 | 317,476 | |||||||||
Non-interest income | 22,460 | 170 | 22,630 | |||||||||
Non-interest expense | 58,876 | 9,372 | 68,248 | |||||||||
Income before assessments | 201,412 | 70,446 | 271,858 | |||||||||
Affordable Housing Program assessments | 20,560 | 7,045 | 27,605 | |||||||||
Net income | $ | 180,852 | $ | 63,401 | $ | 244,253 | ||||||
Average assets | $ | 94,333,213 | $ | 6,824,283 | $ | 101,157,496 | ||||||
Total assets | $ | 99,629,924 | $ | 7,010,495 | $ | 106,640,419 | ||||||
2013 | ||||||||||||
Net interest income | $ | 229,559 | $ | 98,285 | $ | 327,844 | ||||||
Reversal for credit losses | — | (7,450 | ) | (7,450 | ) | |||||||
Net interest income after reversal for credit losses | 229,559 | 105,735 | 335,294 | |||||||||
Non-interest income (loss) | 30,505 | (10,714 | ) | 19,791 | ||||||||
Non-interest expense | 55,459 | 8,928 | 64,387 | |||||||||
Income before assessments | 204,605 | 86,093 | 290,698 | |||||||||
Affordable Housing Program assessments | 21,011 | 8,609 | 29,620 | |||||||||
Net income | $ | 183,594 | $ | 77,484 | $ | 261,078 | ||||||
Average assets | $ | 86,609,248 | $ | 7,081,377 | $ | 93,690,625 | ||||||
Total assets | $ | 96,336,915 | $ | 6,843,787 | $ | 103,180,702 | ||||||
2012 | ||||||||||||
Net interest income | $ | 209,636 | $ | 98,484 | $ | 308,120 | ||||||
Provision for credit losses | — | 1,459 | 1,459 | |||||||||
Net interest income after provision for credit losses | 209,636 | 97,025 | 306,661 | |||||||||
Non-interest income | 12,930 | 482 | 13,412 | |||||||||
Non-interest expense | 50,082 | 7,888 | 57,970 | |||||||||
Income before assessments | 172,484 | 89,619 | 262,103 | |||||||||
Affordable Housing Program assessments | 18,417 | 8,962 | 27,379 | |||||||||
Net income | $ | 154,067 | $ | 80,657 | $ | 234,724 | ||||||
Average assets | $ | 58,707,558 | $ | 7,994,445 | $ | 66,702,003 | ||||||
Total assets | $ | 74,003,271 | $ | 7,558,879 | $ | 81,562,150 | ||||||
Fair_Value_Disclosures_Fair_Va
Fair Value Disclosures Fair Value (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Summary (in thousands) | |||||||||||||||||||||||
31-Dec-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 | $ | 3,109,970 | $ | 3,109,970 | $ | 3,109,970 | $ | — | $ | — | $ | — | ||||||||||||
Interest-bearing deposits | 119 | 119 | — | 119 | — | — | ||||||||||||||||||
Securities purchased under agreements to resell | 3,343,000 | 3,343,002 | — | 3,343,002 | — | — | ||||||||||||||||||
Federal funds sold | 6,600,000 | 6,600,000 | — | 6,600,000 | — | — | ||||||||||||||||||
Trading securities | 1,341 | 1,341 | — | 1,341 | — | — | ||||||||||||||||||
Available-for-sale securities | 1,349,977 | 1,349,977 | — | 1,349,977 | — | — | ||||||||||||||||||
Held-to-maturity securities | 14,712,271 | 14,794,326 | — | 14,794,326 | — | — | ||||||||||||||||||
Advances (2) | 70,405,616 | 70,279,438 | — | 70,279,438 | — | — | ||||||||||||||||||
Mortgage loans held for portfolio, | 6,984,683 | 7,219,198 | — | 7,178,047 | 41,151 | — | ||||||||||||||||||
net | ||||||||||||||||||||||||
Accrued interest receivable | 81,384 | 81,384 | — | 81,384 | — | — | ||||||||||||||||||
Derivative assets | 14,699 | 14,699 | — | 24,531 | — | (9,832 | ) | |||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Deposits | 729,936 | 729,782 | — | 729,782 | — | — | ||||||||||||||||||
Consolidated Obligations: | ||||||||||||||||||||||||
Discount Notes | 41,232,127 | 41,224,739 | — | 41,224,739 | — | — | ||||||||||||||||||
Bonds (3) | 59,216,557 | 59,496,247 | — | 59,496,247 | — | — | ||||||||||||||||||
Mandatorily redeemable capital | 62,963 | 62,963 | 62,963 | — | — | — | ||||||||||||||||||
stock | ||||||||||||||||||||||||
Accrued interest payable | 114,781 | 114,781 | — | 114,781 | — | — | ||||||||||||||||||
Derivative liabilities | 63,767 | 63,767 | — | 149,634 | — | (85,867 | ) | |||||||||||||||||
Other: | ||||||||||||||||||||||||
Standby bond purchase agreements | — | 1,381 | — | 1,381 | — | — | ||||||||||||||||||
-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) $15,042 of Advances recorded under the fair value option at December 31, 2014. | |||||||||||||||||||||||
-3 | Includes (in thousands) $4,209,640 of Consolidated Obligation Bonds recorded under the fair value option at December 31, 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 agreements to resell | 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 Obligation 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 December 31, 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 single-family mortgage-backed securities | $ | 1,341 | $ | — | $ | 1,341 | $ | — | $ | — | ||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||
Certificates of deposit | 1,349,977 | — | 1,349,977 | — | — | |||||||||||||||||||
Advances | 15,042 | — | 15,042 | — | — | |||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||
Interest rate swaps | 10,894 | — | 20,726 | — | (9,832 | ) | ||||||||||||||||||
Forward rate agreements | 6 | — | 6 | — | — | |||||||||||||||||||
Mortgage delivery commitments | 3,799 | — | 3,799 | — | — | |||||||||||||||||||
Total derivative assets | 14,699 | — | 24,531 | — | (9,832 | ) | ||||||||||||||||||
Total assets at fair value | $ | 1,381,059 | $ | — | $ | 1,390,891 | $ | — | $ | (9,832 | ) | |||||||||||||
Recurring fair value measurements - Liabilities | ||||||||||||||||||||||||
Consolidated Obligation Bonds | $ | 4,209,640 | $ | — | $ | 4,209,640 | $ | — | $ | — | ||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||
Interest rate swaps | 58,842 | — | 144,709 | — | (85,867 | ) | ||||||||||||||||||
Forward rate agreement | 4,924 | — | 4,924 | — | — | |||||||||||||||||||
Mortgage delivery commitments | 1 | — | 1 | — | — | |||||||||||||||||||
Total derivative liabilities | 63,767 | — | 149,634 | — | (85,867 | ) | ||||||||||||||||||
Total liabilities at fair value | $ | 4,273,407 | $ | — | $ | 4,359,274 | $ | — | $ | (85,867 | ) | |||||||||||||
-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. | |||||||||||||||||||||||
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 single-family 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 | $ | 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. | |||||||||||||||||||||||
Fair Value, Option, Quantitative Disclosures [Table Text Block] | Fair Value Option - Financial Assets and Liabilities (in thousands) | |||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Advances | Consolidated Bonds | Advances | Consolidated Bonds | Advances | Consolidated Bonds | |||||||||||||||||||
Balance at beginning of period | $ | — | $ | (4,018,370 | ) | $ | — | $ | (3,402,366 | ) | $ | — | $ | (4,900,296 | ) | |||||||||
New transactions elected for fair value option | 15,000 | (6,480,000 | ) | — | (4,015,000 | ) | — | (3,365,000 | ) | |||||||||||||||
Maturities and terminations | — | 6,285,000 | — | 3,400,000 | — | 4,860,000 | ||||||||||||||||||
Net gains on financial instruments held under fair value option | 20 | 2,154 | — | 330 | — | 1,939 | ||||||||||||||||||
Change in accrued interest | 22 | 1,576 | — | (1,334 | ) | — | 991 | |||||||||||||||||
Balance at end of period | $ | 15,042 | $ | (4,209,640 | ) | $ | — | $ | (4,018,370 | ) | $ | — | $ | (3,402,366 | ) | |||||||||
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) | |||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Advances | Consolidated Bonds | Advances | Consolidated Bonds | Advances | Consolidated Bonds | |||||||||||||||||||
Interest income (expense) | $ | 82 | $ | (5,899 | ) | $ | — | $ | (4,914 | ) | $ | — | $ | (8,934 | ) | |||||||||
Net gains on changes in fair value under fair value option | 20 | 2,154 | — | 330 | — | 1,939 | ||||||||||||||||||
Total changes in fair value included in current period earnings | $ | 102 | $ | (3,745 | ) | $ | — | $ | (4,584 | ) | $ | — | $ | (6,995 | ) | |||||||||
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) | |||||||||||||||||||||||
December 31, 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 | |||||||||||||||||||
Advances (1) | $ | 15,000 | $ | 15,042 | $ | 42 | $ | — | $ | — | $ | — | ||||||||||||
Consolidated Bonds | 4,210,000 | 4,209,640 | (360 | ) | 4,015,000 | 4,018,370 | 3,370 | |||||||||||||||||
-1 | At December 31, 2014 and 2013, none of the Advances were 90 days or more past due or had been placed on non-accrual status. |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||
Off-Balance Sheet Commitments [Table Text Block] | Off-Balance Sheet Commitments (in thousands) | |||||||||||||||||||||||
December 31, 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 | $ | 17,233,206 | $ | 546,385 | $ | 17,779,591 | $ | 13,317,887 | $ | 154,086 | $ | 13,471,973 | ||||||||||||
Commitments for standby bond purchases | 37,490 | 149,705 | 187,195 | 10,960 | 273,025 | 283,985 | ||||||||||||||||||
Commitments to purchase mortgage loans | 451,292 | — | 451,292 | 36,620 | — | 36,620 | ||||||||||||||||||
Unsettled Consolidated Bonds, at par (1)(2) | 17,000 | — | 17,000 | 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. | |||||||||||||||||||||||
-2 | Of the total unsettled Consolidated Bonds, $17,000 and $0 (in thousands) were hedged with associated interest rate swaps at December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Future Minimum Rentals for Operating Leases (in thousands) | |||||||||||||||||||||||
Year | Premises | Equipment | Total | |||||||||||||||||||||
2015 | $ | 831 | $ | 146 | $ | 977 | ||||||||||||||||||
2016 | 755 | 143 | 898 | |||||||||||||||||||||
2017 | 758 | 143 | 901 | |||||||||||||||||||||
2018 | 777 | 72 | 849 | |||||||||||||||||||||
2019 | 796 | — | 796 | |||||||||||||||||||||
Thereafter | 5,865 | — | 5,865 | |||||||||||||||||||||
Total | $ | 9,782 | $ | 504 | $ | 10,286 | ||||||||||||||||||
Transactions_with_Other_FHLBan1
Transactions with Other FHLBanks (Tables) (Other FHLBanks [Member]) | 12 Months Ended | |||||||||||
Dec. 31, 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 Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Loans to other FHLBanks | $ | 438 | $ | 3,740 | $ | 2,514 | ||||||
Borrowings from other FHLBanks | 68 | 4,110 | 273 | |||||||||
Transactions_with_Stockholders1
Transactions with Stockholders (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 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 | |||||||||||||
December 31, 2014 | Balance | % of Total | Principal | Principal Balance | |||||||||||
JPMorgan Chase Bank, N.A. | $ | 1,533 | 35 | % | $ | 41,300 | $ | — | |||||||
U.S. Bank, N.A. | 475 | 11 | 8,338 | 38 | |||||||||||
Fifth Third Bank | 248 | 6 | 24 | 3 | |||||||||||
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 | |||||||||||
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) | ||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||
Balance | % of Total (1) | Balance | % of Total (1) | ||||||||||||
Advances | $ | 2,929 | 4.2 | % | $ | 1,611 | 2.5 | % | |||||||
MPP | 154 | 2.3 | 57 | 0.9 | |||||||||||
Regulatory capital stock | 225 | 5.2 | 246 | 5.1 | |||||||||||
-1 | Percentage of total principal (Advances), unpaid principal balance (MPP), and regulatory capital stock. |
Background_Information_Details
Background Information (Details) | Dec. 31, 2014 |
Banks | |
Background Information [Abstract] | |
Number of Federal Home Loan Banks | 12 |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies Details 1 (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Property, Plant and Equipment [Line Items] | |||
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $18,556,000 | $19,161,000 | |
Gain (Loss) on Disposition of Property Plant Equipment | -106,000 | 13,000 | -3,000 |
Capitalized Computer Software, Net | 6,659,000 | 8,677,000 | |
Capitalized Computer Software, Amortization | 2,433,000 | 1,814,000 | 1,528,000 |
Premises Software and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciation, Depletion and Amortization | $3,108,000 | $2,549,000 | $2,176,000 |
Cash_and_Due_from_Banks_Detail
Cash and Due from Banks (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Cash and Due from Banks [Abstract] | ||
Average Collected Cash Balances With Commercial Banks | $77,000 | $68,000 |
Cash Pass Through Reserve | $298,000 | $15,884,000 |
Trading_Securities_Trading_Sec
Trading Securities (Trading Securities by Major Type) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading securities | $1,341 | $1,578 | ||
Single Family, Mortgage-backed Securities, Other US Obligations [Member] | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading securities | $1,341 | [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 $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Trading Securities [Abstract] | |||
Net gains (losses) on trading securities held at period end | ($9) | ($19) | $8 |
Trading Securities, Realized Gain (Loss) on Security Maturities During the Period | 0 | 0 | -32,778 |
Net gains (losses) on trading securities | ($9) | ($19) | ($32,770) |
AvailableforSale_Securities_De
Available-for-Sale Securities (Details) (USD $) | Dec. 31, 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 | $1,350,001 | $2,185,000 |
Available For Sale Debt Securities Gross Unrealized Gain Accumulated In Investments | 3 | 1 |
Available-for-sale Securities, Gross Unrealized Losses | -27 | -122 |
Available-for-sale securities | 1,349,977 | 2,184,879 |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Amortized Cost Basis | 1,350,001 | 2,185,000 |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value | 1,349,977 | 2,184,879 |
Fixed-rate [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 1,350,001 | 2,185,000 |
Certificates of Deposit [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 1,350,001 | 2,185,000 |
Available For Sale Debt Securities Gross Unrealized Gain Accumulated In Investments | 3 | 1 |
Available-for-sale Securities, Gross Unrealized Losses | -27 | -122 |
Available-for-sale securities | $1,349,977 | $2,184,879 |
HeldtoMaturity_Securities_Majo
Held-to-Maturity Securities (Major Security Types) (Details) (USD $) | Dec. 31, 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 | $14,712,271 | [1] | $16,087,162 | [1] |
Held-to-maturity Securities | 14,712,271 | [2] | 16,087,162 | [2] |
Held-to-maturity Securities, Unrecognized Holding Gain | 201,891 | 146,508 | ||
Held-to-maturity Securities, Unrecognized Holding Loss | -119,836 | -425,273 | ||
Held-to-maturity Securities, Fair Value | 14,794,326 | 15,808,397 | ||
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 | 26,099 | [1],[3] | 27,485 | [1],[3] |
Held-to-maturity Securities | 26,099 | [3] | 27,485 | [3] |
Held-to-maturity Securities, Unrecognized Holding Gain | 0 | [3] | 1 | [3] |
Held-to-maturity Securities, Unrecognized Holding Loss | 0 | [3] | 0 | [3] |
Held-to-maturity Securities, Fair Value | 26,099 | [3] | 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 | 26,099 | [1] | 27,485 | [1] |
Held-to-maturity Securities | 26,099 | 27,485 | ||
Held-to-maturity Securities, Unrecognized Holding Gain | 0 | 1 | ||
Held-to-maturity Securities, Unrecognized Holding Loss | 0 | 0 | ||
Held-to-maturity Securities, Fair Value | 26,099 | 27,486 | ||
Single Family, 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 | 2,038,960 | [1],[4] | 1,909,099 | [1],[4] |
Held-to-maturity Securities | 2,038,960 | [4] | 1,909,099 | [4] |
Held-to-maturity Securities, Unrecognized Holding Gain | 10,021 | [4] | 4,545 | [4] |
Held-to-maturity Securities, Unrecognized Holding Loss | -1,017 | [4] | -26,396 | [4] |
Held-to-maturity Securities, Fair Value | 2,047,964 | [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 | 14,686,172 | [1],[5] | 16,059,677 | [1],[5] |
Held-to-maturity Securities | 14,686,172 | [5] | 16,059,677 | [5] |
Held-to-maturity Securities, Unrecognized Holding Gain | 201,891 | 146,507 | ||
Held-to-maturity Securities, Unrecognized Holding Loss | -119,836 | -425,273 | ||
Held-to-maturity Securities, Fair Value | 14,768,227 | [5] | 15,780,911 | [5] |
Single Family 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 | 12,647,212 | [1],[6] | 14,150,578 | [1],[6] |
Held-to-maturity Securities | 12,647,212 | [6] | 14,150,578 | [6] |
Held-to-maturity Securities, Unrecognized Holding Gain | 191,870 | [6] | 141,962 | [6] |
Held-to-maturity Securities, Unrecognized Holding Loss | -118,819 | [6] | -398,877 | [6] |
Held-to-maturity Securities, Fair Value | $12,720,263 | [6] | $13,893,663 | [6] |
[1] | Carrying value equals amortized cost. | |||
[2] | Fair values: $14,794,326 and $15,808,397 at December 31, 2014 and 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] | 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. | |||
[6] | 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 $) | Dec. 31, 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 | $24,473 | $32,458 |
Held-to-maturity Securities, Discounts | -51,357 | -58,658 |
Held-to-maturity Securities, Premiums (Discounts), Net | ($26,884) | ($26,200) |
HeldtoMaturity_Securities_Cont
Held-to-Maturity Securities (Continuous Unrealized Loss Position) (Details) (USD $) | Dec. 31, 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 | $631,907 | $9,480,410 | ||
Held To Maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | -1,348 | -423,648 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 5,752,674 | 48,902 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | -118,488 | -1,625 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 6,384,581 | 9,529,312 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | -119,836 | -425,273 | ||
Single Family, 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 | 0 | [1] | 663,278 | [1] |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | 0 | [1] | -26,396 | [1] |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 197,625 | [1] | 0 | [1] |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | -1,017 | [1] | 0 | [1] |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 197,625 | [1] | 663,278 | [1] |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | -1,017 | [1] | -26,396 | [1] |
Single Family 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, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 631,907 | [2] | 8,817,132 | [2] |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | -1,348 | [2] | -397,252 | [2] |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 5,555,049 | [2] | 48,902 | [2] |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | -117,471 | [2] | -1,625 | [2] |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 6,186,956 | [2] | 8,866,034 | [2] |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | ($118,819) | [2] | ($398,877) | [2] |
[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. |
HeldtoMaturity_Securities_Cont1
Held-to-Maturity Securities (Contractual Maturity) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to-maturity Securities | $14,712,271 | [1] | $16,087,162 | [1] |
Held-to-maturity Securities, Fair Value | 14,794,326 | 15,808,397 | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 14,712,271 | [2] | 16,087,162 | [2] |
Held-to-maturity Securities, Fair Value | 14,794,326 | 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 | 26,099 | [2] | 27,485 | [2] |
Held-to-maturity Securities, Debt Maturities, within One Year, Net Carrying Amount | 26,099 | 27,485 | ||
Held-to-maturity Securities, Debt Maturities, within One Year, Fair Value | 26,099 | 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 | 26,099 | [2] | 27,485 | [2] |
Held-to-maturity Securities | 26,099 | 27,485 | ||
Held-to-maturity Securities, Fair Value | 26,099 | 27,486 | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 26,099 | [2] | 27,485 | [2] |
Held-to-maturity Securities, Fair Value | 26,099 | 27,486 | ||
Collateralized Mortgage Backed Securities [Member] | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to-maturity Securities | 14,686,172 | [3] | 16,059,677 | [3] |
Held-to-maturity Securities, Fair Value | 14,768,227 | [3] | 15,780,911 | [3] |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 14,686,172 | [2],[3] | 16,059,677 | [2],[3] |
Held-to-maturity Securities, Fair Value | $14,768,227 | [3] | $15,780,911 | [3] |
[1] | Fair values: $14,794,326 and $15,808,397 at December 31, 2014 and 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 $) | Dec. 31, 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 | $14,712,271 | [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 | 26,099 | [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 | 14,686,172 | [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 | 26,099 | 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 | 12,091,591 | 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 | $2,594,581 | $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. |
HeldtoMaturity_Securities_Proc
Held-to-Maturity Securities Proceeds And Gross Gains From Sale Of HTM (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Held-to-maturity Securities, Unclassified [Abstract] | |||
Proceeds from Sale of Held-to-maturity Securities | $0 | $0 | $507,531 |
Held-to-maturity Securities, Sold Security, Realized Gain (Loss), Excluding Other than Temporary Impairments | $0 | $0 | $29,292 |
Advances_Narrative_Details
Advances (Narrative) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Interest Rate on Affordable Housing Program Subsidized Loans | 0.00% | |
Federal Home Loan Bank, Advances, Par Value | $70,298,507,000 | $65,092,770,000 |
Federal Home Loan Bank, Advances, Outstanding, Greater than One Billion Dollars Per Borrower, Amount | 56,600,000,000 | 51,600,000,000 |
Federal Home Loan Bank, Advances, Outstanding, Greater than One Billion Dollars Per Borrower, Percent | 80.50% | 79.30% |
Federal Home Loan Bank, Advances, Outstanding, Greater than One Billion Dollars Per Borrower, Number of Borrowers | 6 | 6 |
Federal Home Loan Bank, Advances, Callable Option [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | 15,098,357,000 | 10,072,203,000 |
Federal Home Loan Bank, Advances, Putable Option [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $1,617,400,000 | $2,146,400,000 |
Minimum [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Interest Rate | 0.00% | 0.00% |
Maximum [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Interest Rate | 9.20% | 9.20% |
Advances_Advance_Redemption_Te
Advances (Advance Redemption Terms) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Advances [Abstract] | ||||
Overdrawn demand deposit accounts | $0 | $150 | ||
Due in 1 year or less | 14,139,630 | 17,729,350 | ||
Due after 1 year through 2 years | 14,810,847 | 6,614,470 | ||
Due after 2 years through 3 years | 12,829,760 | 9,485,558 | ||
Due after 3 years through 4 years | 14,222,722 | 9,444,110 | ||
Due after 4 years through 5 years | 10,724,619 | 11,831,887 | ||
Thereafter | 3,570,929 | 9,987,245 | ||
Federal Home Loan Bank, Advances, Par Value, Total | 70,298,507 | 65,092,770 | ||
Commitment Fees on Advances | -699 | -750 | ||
Discount on Affordable Housing Program Advances | -12,110 | -14,953 | ||
Federal Home Loan Bank Advances, Premium | 3,058 | 3,413 | ||
Federal Home Loan Bank Advances, Discount | -12,572 | -14,104 | ||
Hedging adjustments | 129,390 | 204,014 | ||
Federal Home Loan Bank, Advances, Valuation Adjustments under Fair Value Option | 42 | [1] | 0 | [1] |
Advances | $70,405,616 | $65,270,390 | ||
Federal Home Loan Bank Advances, Weighted Average Interest Rate Of Amounts Overdrawn Demand Deposit | 0.00% | 0.20% | ||
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing Within One Year of Balance Sheet Date | 0.40% | 0.42% | ||
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing From One To Two Years of Balance Sheet Date | 0.54% | 0.63% | ||
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing From Two To Three Years of Balance Sheet Date | 0.69% | 0.64% | ||
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing From Three To Four Years of Balance Sheet Date | 0.60% | 0.81% | ||
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing From Four To Five Years of Balance Sheet Date | 0.54% | 0.61% | ||
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing After Five Years of Balance Sheet Date | 1.51% | 0.78% | ||
Federal Home Loan Bank Advances, Weighted Average Interest Rate As Of Balance Sheet Date | 0.60% | 0.62% | ||
[1] | At December 31, 2014 and 2013, none of the Advances were 90 days or more past due or had been placed on non-accrual status. |
Advances_Year_of_Contractual_M
Advances (Year of Contractual Maturity or Next Call Date) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Advances [Abstract] | ||
Overdrawn demand deposit accounts | $0 | $150 |
Federal Home Loan Bank Advances, Earlier of Contractual Maturity or Next Call Date, Due With in Next Rolling Twelve Months | 23,003,946 | 25,109,451 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due in Rolling Year Two | 12,159,384 | 5,300,184 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due in Rolling Year Three | 9,659,975 | 7,149,237 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due in Rolling Year Four | 12,295,893 | 7,050,325 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due in Rolling Year Five | 9,970,280 | 10,877,078 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due After Rolling Year Five | 3,209,029 | 9,606,345 |
Federal Home Loan Bank, Advances, Par Value, Total | $70,298,507 | $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 $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Advances [Abstract] | ||
Overdrawn demand deposit accounts | $0 | $150 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due within One Year of Balance Sheet Date | 15,753,030 | 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 | 14,663,847 | 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 | 12,115,860 | 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 | 13,649,722 | 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 | 10,715,119 | 11,256,887 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due After Five Years of Balance Sheet Date | 3,400,929 | 9,807,745 |
Federal Home Loan Bank, Advances, Par Value, Total | $70,298,507 | $65,092,770 |
Advances_Advances_by_Interest_
Advances (Advances by Interest Rate Payment Terms) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Advances [Abstract] | ||||
Federal Home Loan Bank, Advances, Fixed Rate, under One Year | $8,638,946 | [1] | $6,706,181 | [1] |
Federal Home Loan Bank, Advances, Fixed Rate, after One Year | 9,306,104 | [1] | 8,774,636 | [1] |
Federal Home Loan Bank Advances, Maturities by Interest Rate Type, Fixed Rate | 17,945,050 | [1] | 15,480,817 | [1] |
Federal Home Loan Bank, Advances, Floating Rate, under One Year | 5,500,684 | [1] | 10,580,389 | [1] |
Federal Home Loan Bank, Advances, Floating Rate, after One Year | 46,852,773 | [1] | 39,031,564 | [1] |
Federal Home Loan Bank Advances, Maturities by Interest Rate Type, Floating Rate | 52,353,457 | [1] | 49,611,953 | [1] |
Federal Home Loan Bank, Advances, Par Value, Total | $70,298,507 | $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 $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $70,298,507 | $65,092,770 |
Federal Home Loan Bank Borrower Advances, Five Percent Or More Of Principal Balance [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | 49,638,000 | 46,284,000 |
Concentration Risk, Percentage, Five Percent or More Of Principal Balance | 71.00% | 71.00% |
JPMorgan Chase Bank National Association [Member] | Federal Home Loan Bank Borrower Advances, Five Percent Or More Of Principal Balance [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | 41,300,000 | 41,700,000 |
Concentration Risk, Percentage, Five Percent or More Of Principal Balance | 59.00% | 64.00% |
U.S. Bank, N.A. [Member] | Federal Home Loan Bank Borrower Advances, Five Percent Or More Of Principal Balance [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $8,338,000 | $4,584,000 |
Concentration Risk, Percentage, Five Percent or More Of Principal Balance | 12.00% | 7.00% |
Mortgage_Loans_Held_for_Portfo2
Mortgage Loans Held for Portfolio (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Unpaid principal balance | $6,796,004 | $6,643,199 | ||
Loans and Leases Receivable, Unamortized Premiums | 179,540 | 177,180 | ||
Loans and Leases Receivable, Unamortized Discounts | -2,460 | -3,631 | ||
Loans and Leases Receivable, Hedging Basis Adjustment | 16,518 | [1] | 8,775 | [1] |
Loans and Leases Receivable, Gross, Consumer, Mortgage | 6,989,602 | 6,825,523 | ||
Fixed rates medium-term single-family mortgages [Member] | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Unpaid principal balance | 1,393,525 | [2] | 1,482,345 | [2] |
Fixed rates Long-term single-family mortgages [Member] | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Unpaid principal balance | 5,402,479 | 5,160,854 | ||
Conventional Loan [Member] | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Unpaid principal balance | 6,203,318 | 5,897,804 | ||
Federal Housing Administration Loan [Member] | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Unpaid principal balance | $592,686 | $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 $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Union Savings Bank [Member] | ||||
Participating Mortgage Loans [Line Items] | ||||
Unpaid Principal Balances Greater Than Five Percent of Total | $1,593 | $1,433 | ||
Percent of Total | 23.00% | 22.00% | ||
PNC Bank, N.A. [Member] | ||||
Participating Mortgage Loans [Line Items] | ||||
Unpaid Principal Balances Greater Than Five Percent of Total | 1,074 | [1] | 1,356 | [1] |
Percent of Total | 16.00% | [1] | 20.00% | [1] |
Guardian Saving Bank FSB [Member] | ||||
Participating Mortgage Loans [Line Items] | ||||
Unpaid Principal Balances Greater Than Five Percent of Total | $406 | |||
Percent of Total | 6.00% | |||
[1] | Former member. |
Allowance_for_Credit_Losses_De
Allowance for Credit Losses (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans and Leases Receivable, Allowance | $4,919 | $7,233 | $17,907 |
Total recorded investment | 7,014,345 | 6,850,044 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance, beginning of period | 7,233 | 17,907 | 20,750 |
Charge-offs | -1,814 | -3,224 | -4,302 |
Reversal for credit losses | -500 | -7,450 | |
Provision for Loan Losses Expensed | 1,459 | ||
Balance, end of period | 4,919 | 7,233 | 17,907 |
Conventional Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Credit Losses, Collectively Evaluated for Impairment | 4,766 | 7,159 | |
Allowance for Credit Losses, Individually Evaluated for Impairment | 153 | 74 | |
Loans and Leases Receivable, Allowance | 4,919 | 7,233 | |
Recorded Investment, Collectively Evaluated for Impairment | 6,402,994 | 6,082,636 | |
Recorded Investment, Individually Evaluated for Impairment | 8,639 | 7,799 | |
Total recorded investment | 6,411,633 | 6,090,435 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance, end of period | $4,919 | $7,233 |
Allowance_for_Credit_Losses_Ro
Allowance for Credit Losses Rollforward of LRA (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Change in Lender Risk Account Balance [Roll Forward] | |||
Lender Risk Account, Beginning Balance | $115,236 | $102,680 | $68,684 |
Lender Risk Account, Additions | 18,947 | 18,331 | 39,111 |
Lender Risk Account, Claims | -2,075 | -4,118 | -3,409 |
Lender Risk Account, Distributions | -2,895 | -1,657 | -1,706 |
Lender Risk Account, Ending Balance | $129,213 | $115,236 | $102,680 |
Allowance_for_Credit_Losses_Sc
Allowance for Credit Losses Schedule of Loans Outstanding and Past Due (Details) (USD $) | Dec. 31, 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 | $91,797 | $101,924 | ||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 26,478 | 30,934 | ||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 68,036 | 90,876 | ||
Financing Receivable, Recorded Investment, Past Due | 186,311 | 223,734 | ||
Financing Receivable, Recorded Investment, Current | 6,828,034 | 6,626,310 | ||
Total recorded investment | 7,014,345 | 6,850,044 | ||
Mortgage Loans In Process Of Foreclosure | 46,541 | [1] | 64,880 | [1] |
Loans and Leases Receivable, Serious Delinquencies Ratio | 0.99% | [2] | 1.34% | [2] |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 66,902 | [3] | 90,485 | [3] |
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,574 | 3,077 | ||
Financing Receivable, Modifications, Recorded Investment | 8,639 | 7,799 | ||
Conventional Loan [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 49,053 | 48,619 | ||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 13,597 | 11,971 | ||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 42,991 | 57,934 | ||
Financing Receivable, Recorded Investment, Past Due | 105,641 | 118,524 | ||
Financing Receivable, Recorded Investment, Current | 6,305,992 | 5,971,911 | ||
Total recorded investment | 6,411,633 | 6,090,435 | ||
Mortgage Loans In Process Of Foreclosure | 34,854 | [1] | 46,285 | [1] |
Loans and Leases Receivable, Serious Delinquencies Ratio | 0.68% | [2] | 0.96% | [2] |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 41,857 | [3] | 57,543 | [3] |
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,574 | 3,077 | ||
Federal Housing Administration Loan [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 42,744 | 53,305 | ||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 12,881 | 18,963 | ||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 25,045 | 32,942 | ||
Financing Receivable, Recorded Investment, Past Due | 80,670 | 105,210 | ||
Financing Receivable, Recorded Investment, Current | 522,042 | 654,399 | ||
Total recorded investment | 602,712 | 759,609 | ||
Mortgage Loans In Process Of Foreclosure | 11,687 | [1] | 18,595 | [1] |
Loans and Leases Receivable, Serious Delinquencies Ratio | 4.27% | [2] | 4.41% | [2] |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 25,045 | [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 $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | loans | loans | |
Allowance for Credit Losses [Abstract] | |||
Financing Receivable Modifications Number Of Contracts Outstanding | 53 | 42 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment During Year | $671 | $793 | $0 |
Allowance_for_Credit_Losses_In
Allowance for Credit Losses Individually Evaluated Impaired Loans (Details) (Residential, Prime, Financing Receivable [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Residential, Prime, Financing Receivable [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | $5,297 | $4,959 | |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 5,165 | 4,828 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 3,342 | 2,840 | |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 3,293 | 2,801 | |
Impaired Financing Receivable, Related Allowance | 153 | 74 | |
Impaired Financing Receivable, Recorded Investment | 8,639 | 7,799 | |
Impaired Financing Receivable, Unpaid Principal Balance | 8,458 | 7,629 | |
Impaired Financing Receivable, Average Recorded Investment | 8,029 | 6,615 | 4,331 |
Impaired Financing Receivable, Interest Income, Accrual Method | $417 | $348 | $228 |
Derivatives_and_Hedging_Activi2
Derivatives and Hedging Activities Narrative (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative, Net Liability Position, Aggregate Fair Value | $121,808 |
Collateral Already Posted, Aggregate Fair Value | 62,966 |
Additional Collateral, Aggregate Fair Value | $12,353 |
Derivatives_and_Hedging_Activi3
Derivatives and Hedging Activities Derivatives in Statement of Condition (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount of Derivatives | $9,826,839 | $8,727,960 | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 24,531 | 39,445 | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 149,634 | 223,835 | ||
Derivative Asset, Fair Value, Amount Offset Against Collateral | -9,832 | [1],[2] | -36,204 | [1],[2] |
Derivative Liability, Fair Value, Amount Offset Against Collateral | -85,867 | [1],[2] | -126,069 | [1],[2] |
Derivative assets | 14,699 | 3,241 | ||
Derivative liabilities | 63,767 | 97,766 | ||
Derivative, Collateral, Cash Posted And Related Accrued interest | 78,755 | 109,288 | ||
Derivative, Collateral, Cash Received And Related Accrued Interest | 2,720 | 19,423 | ||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount of Derivatives | 4,301,547 | 4,517,340 | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 19,826 | 36,061 | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 138,150 | 215,691 | ||
Not Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount of Derivatives | 5,525,292 | 4,210,620 | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 4,705 | 3,384 | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 11,484 | 8,144 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount of Derivatives | 4,635,000 | 4,143,000 | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 900 | 2,928 | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 6,559 | 7,732 | ||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Mortgages [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount of Derivatives | 451,292 | 36,620 | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 3,799 | 2 | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 1 | 412 | ||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Collateralized Mortgage Backed Securities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional Amount of Derivatives | 439,000 | 31,000 | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 6 | 454 | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | $4,924 | $0 | ||
[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 clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $78,755 and $109,288 at December 31, 2014 and 2013. Cash collateral received and related accrued interest was (in thousands) $2,720 and $19,423 at December 31, 2014 and 2013. | |||
[2] | 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 $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | $5,127 | $10,837 | $6,864 |
Gain (Loss) on Derivatives not designated as hedging instruments | 1,500 | -2,934 | 1,871 |
Net gains (losses) on derivatives and hedging activities | 6,627 | 7,903 | 8,735 |
Interest Rate Swap [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | 5,127 | 10,837 | 6,864 |
Gain (Loss) on Derivatives not designated as hedging instruments | 628 | 7,456 | 3,771 |
Forward Contracts [Member] | Mortgages [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on Derivatives not designated as hedging instruments | 15,631 | -9,873 | 9,123 |
Forward Contracts [Member] | Collateralized Mortgage Backed Securities [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on Derivatives not designated as hedging instruments | -15,465 | -845 | -8,645 |
Net Interest Settlements [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on Derivatives not designated as hedging instruments | $706 | $328 | ($2,378) |
Derivatives_and_Hedging_Activi5
Derivatives and Hedging Activities Derivatives in Statement of Income and Impact on Interest (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gain (Loss) on Derivative | $60,662 | $129,684 | $260,278 | |||
Gain (Loss) on Hedged Item | -55,535 | -118,847 | -253,414 | |||
Net Fair Value Hedge Ineffectiveness | 5,127 | 10,837 | 6,864 | |||
Effect of Derivatives on Net Interest Income | -72,934 | [1] | -79,414 | [1] | -208,073 | [1] |
Amortization and Accretion of Hedged Items | -3,310 | -3,022 | -3,566 | |||
Advances [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gain (Loss) on Derivative | 76,295 | 156,025 | 268,944 | |||
Gain (Loss) on Hedged Item | -71,315 | -145,843 | -261,817 | |||
Net Fair Value Hedge Ineffectiveness | 4,980 | 10,182 | 7,127 | |||
Effect of Derivatives on Net Interest Income | -91,232 | [1] | -106,452 | [1] | -244,836 | [1] |
Consolidated Obligation Bonds [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gain (Loss) on Derivative | -15,633 | -26,341 | -8,666 | |||
Gain (Loss) on Hedged Item | 15,780 | 26,996 | 8,403 | |||
Net Fair Value Hedge Ineffectiveness | 147 | 655 | -263 | |||
Effect of Derivatives on Net Interest Income | $18,298 | [1] | $27,038 | [1] | $36,763 | [1] |
[1] | The net effect of derivatives, in fair value hedge relationships, on net interest income is included in the interest income or interest expense line item of the respective hedged item type. These amounts include the effect of net interest settlements attributable to designated fair value hedges but do not include (in thousands) $(3,310), $(3,022), and $(3,566) of (amortization)/accretion related to fair value hedging activities for the years ended December 31, 2014, 2013, and 2012, respectively. |
Derivatives_and_Hedging_Activi6
Derivatives and Hedging Activities Offsetting of Derivative Assets and Derivative Liabilities (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Offsetting Assets [Line Items] | ||||
Derivative Asset, Subject to Master Netting Arrangement | $20,726 | $38,989 | ||
Derivative Liability, Subject to Master Netting Arrangement | 144,709 | 223,423 | ||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | -9,832 | [1],[2] | -36,204 | [1],[2] |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | -85,867 | [1],[2] | -126,069 | [1],[2] |
Derivative Asset, Net Fair Value Amount, After Offsetting Adjustment | 10,894 | 2,785 | ||
Derivative Liability, Net Fair Value Amount, After Offsetting Adjustment | 58,842 | 97,354 | ||
Derivative Asset, Not Subject to Master Netting Arrangement | 3,805 | [3] | 456 | [3] |
Derivative Liability, Not Subject to Master Netting Arrangement | 4,925 | [3] | 412 | [3] |
Derivative assets | 14,699 | 3,241 | ||
Derivative liabilities | 63,767 | 97,766 | ||
Over the Counter [Member] | ||||
Offsetting Assets [Line Items] | ||||
Derivative Asset, Subject to Master Netting Arrangement | 19,585 | |||
Derivative Liability, Subject to Master Netting Arrangement | 141,352 | |||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | -19,544 | |||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | -82,510 | |||
Derivative Asset, Net Fair Value Amount, After Offsetting Adjustment | 41 | |||
Derivative Liability, Net Fair Value Amount, After Offsetting Adjustment | 58,842 | |||
Derivative Asset, Not Subject to Master Netting Arrangement | 3,805 | [3] | ||
Derivative Liability, Not Subject to Master Netting Arrangement | 4,925 | [3] | ||
Derivative assets | 3,846 | |||
Derivative liabilities | 63,767 | |||
Exchange Cleared [Member] | ||||
Offsetting Assets [Line Items] | ||||
Derivative Asset, Subject to Master Netting Arrangement | 1,141 | |||
Derivative Liability, Subject to Master Netting Arrangement | 3,357 | |||
DerivativeAssetFairValueGrossLiabilityAndRightToReclaimCashOffset | 9,712 | |||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | -3,357 | |||
Derivative Asset, Net Fair Value Amount, After Offsetting Adjustment | 10,853 | |||
Derivative Liability, Net Fair Value Amount, After Offsetting Adjustment | 0 | |||
Derivative assets | 10,853 | |||
Derivative liabilities | $0 | |||
[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 clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $78,755 and $109,288 at December 31, 2014 and 2013. Cash collateral received and related accrued interest was (in thousands) $2,720 and $19,423 at December 31, 2014 and 2013. | |||
[2] | 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. | |||
[3] | Represents mortgage delivery commitments and forward rate agreements that are not subject to an enforceable netting agreement. |
Deposits_Deposits_Details
Deposits Deposits (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Deposits [Abstract] | |||
Average Deposits Compensating Balance Amount | $3,597,698 | $3,982,567 | |
Weighted Average Rate Interest Bearing Deposits | 0.03% | 0.03% | 0.03% |
Interest bearing, demand and overnight | 624,446 | 796,039 | |
Interest bearing, term | 99,600 | 96,100 | |
Interest bearing, other | 5,592 | 5,872 | |
Total interest-bearing | 729,638 | 898,011 | |
Non-interest bearing, other | 298 | 15,884 | |
Total non-interest bearing | 298 | 15,884 | |
Total deposits | 729,936 | 913,895 | |
Time Deposits, $250,000 or More | $99,550 | $96,000 |
Consolidated_Obligations_Detai
Consolidated Obligations (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Schedule of Short-term and Long-term Debt [Line Items] | |||||
Obligation with Joint and Several Liability Arrangement, Amount Outstanding | $847,200,000,000 | $766,800,000,000 | |||
Discount Notes | 41,232,127,000 | 38,209,946,000 | |||
Consolidated Obligations Bonds Total | 59,216,557,000 | 58,162,739,000 | |||
Unamortized Concessions Included in Other Assets | 14,184,000 | 15,947,000 | |||
Amortization of Concessions Included in Consolidated Obligations Interest Expense During Period | 7,380,000 | 7,026,000 | 21,704,000 | ||
Consolidated Obligation Bonds [Member] | |||||
Schedule of Short-term and Long-term Debt [Line Items] | |||||
Debt, Maturities, Repayments of Principal in Twelve Months | 32,477,000,000 | 35,691,500,000 | |||
Debt, Maturities, Repayments of Principal in Next Twelve Months, Weighted Average Interest Rate | 0.24% | 0.34% | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Two | 6,918,000,000 | 2,802,000,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Two, Weighted Average Interest Rate | 1.19% | 1.66% | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Three | 4,594,000,000 | 3,295,000,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Three, Weighted Average Interest Rate | 1.56% | 2.12% | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Four | 4,245,000,000 | 3,689,000,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Four, Weighted Average Interest Rate | 1.79% | 1.67% | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Five | 2,647,000,000 | 3,415,000,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Five, Weighted Average Interest Rate | 2.08% | 1.86% | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling after Year Five | 8,217,000,000 | 9,102,000,000 | |||
Long-term Debt, Maturities, Repayments of Principal After Year Five, Weighted Average Interest Rate | 2.79% | 2.66% | |||
Index amortizing notes | 25,297,000 | 32,746,000 | |||
Index amortizing notes, Weighted average interest rate | 5.07% | 5.07% | |||
Debt, Gross | 59,123,297,000 | 58,027,246,000 | |||
Long-term Debt, Weighted Average Interest Rate | 1.00% | 1.04% | |||
Debt Instrument, Unamortized Premium | 103,477,000 | 123,820,000 | |||
Debt Instrument, Unamortized Discount | -25,161,000 | -22,781,000 | |||
Debt Valuation Adjustment for Hedging Activities | 15,304,000 | 31,084,000 | |||
Fair value option valuation adjustment and accrued interest | -360,000 | 3,370,000 | |||
Consolidated Obligations Bonds Total | 59,216,557,000 | 58,162,739,000 | |||
Non Callable [Member] | Consolidated Obligation Bonds [Member] | |||||
Schedule of Short-term and Long-term Debt [Line Items] | |||||
Debt, Gross | 49,976,297,000 | 46,670,246,000 | |||
Callable [Member] | Consolidated Obligation Bonds [Member] | |||||
Schedule of Short-term and Long-term Debt [Line Items] | |||||
Debt, Gross | 9,147,000,000 | 11,357,000,000 | |||
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 | 40,774,000,000 | 41,493,500,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Two | 5,413,000,000 | 3,827,000,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Three | 3,317,000,000 | 2,915,000,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Four | 2,685,000,000 | 2,427,000,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Five | 1,992,000,000 | 2,095,000,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling after Year Five | 4,917,000,000 | 5,237,000,000 | |||
Index amortizing notes | 25,297,000 | 32,746,000 | |||
Discount Notes [Member] | |||||
Schedule of Short-term and Long-term Debt [Line Items] | |||||
Debt Instrument, Face Amount | 41,238,122,000 | 38,216,860,000 | |||
Short-term Debt, Weighted Average Interest Rate | 0.09% | [1] | 0.09% | [1] | |
Fixed-rate [Member] | Consolidated Obligation Bonds [Member] | |||||
Schedule of Short-term and Long-term Debt [Line Items] | |||||
Debt, Gross | 31,363,297,000 | 29,362,246,000 | |||
Variable-rate [Member] | Consolidated Obligation Bonds [Member] | |||||
Schedule of Short-term and Long-term Debt [Line Items] | |||||
Debt, Gross | 27,610,000,000 | 28,650,000,000 | |||
Step-up [Member] | Consolidated Obligation Bonds [Member] | |||||
Schedule of Short-term and Long-term Debt [Line Items] | |||||
Debt, Gross | $150,000,000 | $15,000,000 | |||
[1] | Represents an implied rate without consideration of concessions. |
Affordable_Housing_Program_AHP2
Affordable Housing Program (AHP) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Affordable Housing Program (AHP) [Abstract] | |||
Affordable Housing Program, Contribution Requirement, Amount | $100,000,000 | ||
Affordable Housing Program, Contribution Requirement, Percentage | 10.00% | ||
Federal Home Loan Bank, Advances, Affordable Housing Program, Principal Outstanding | 102,465,000 | 116,503,000 | |
Affordable Housing Program [Roll Forward] | |||
AHP Obligation, Beginning Balance | 93,789,000 | 82,672,000 | |
AHP, Expense (Current Year Additions) | 27,605,000 | 29,620,000 | 27,379,000 |
AHP, Subsidy Uses, Net | -23,291,000 | -18,503,000 | -18,902,000 |
AHP Obligation, Ending Balance | $98,103,000 | $93,789,000 | $82,672,000 |
Capital_Details
Capital (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Capital [Line Items] | |||
Risk Based Capital Required | $481,835 | $547,455 | |
Risk Based Capital Actual | 5,018,567 | 5,435,002 | |
Regulatory Capital Ratio, Actual | 4.71% | 5.27% | |
Regulatory Capital, Required | 4,265,617 | 4,127,228 | |
Regulatory Capital, Actual | 5,018,567 | 5,435,002 | |
Leverage Ratio, Actual | 7.06% | 7.90% | |
Leverage Capital, Required | 5,332,021 | 5,159,035 | |
Leverage Capital, Actual | 7,527,851 | 8,152,503 | |
Common Stock, Par or Stated Value Per Share | $100 | $100 | |
Retained Earnings, Appropriated | 159,694 | 110,843 | |
Interest Expense, Capital Securities | 4,190 | 5,506 | 11,690 |
Minimum [Member] | |||
Capital [Line Items] | |||
Membership Stock Requirement, Amount | 1 | ||
Maximum [Member] | |||
Capital [Line Items] | |||
Membership Stock Requirement, Amount | $25,000 | ||
Common Class B [Member] | |||
Capital [Line Items] | |||
Common Stock, Par or Stated Value Per Share | $100 |
Capital_Mandatorily_Redeemable
Capital (Mandatorily Redeemable Capital Stock) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Capital [Abstract] | |||
Financial Instruments Subject to Mandatory Redemption, Number of Stockholders | 11 | 11 | 11 |
Mandatorily Redeemable Capital Stock [Roll Forward] | |||
Balance at beginning period | $115,853 | $210,828 | $274,781 |
Net Shares Reclassified to Mandatorily Redeemable Capital Stock, Value | 17,110 | 33,457 | 40,126 |
Repayments of Mandatory Redeemable Capital Securities | -70,000 | -128,432 | -104,079 |
Balance at end of period | $62,963 | $115,853 | $210,828 |
Capital_Mandatorily_Redeemable1
Capital (Mandatorily Redeemable Capital Stock by Contractual Year of Redemption) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Thousands, unless otherwise specified | ||||||
Capital [Abstract] | ||||||
Due in 1 year or less | $130 | $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 | 55 | 0 | ||||
Due after 4 years through 5 years | 2,278 | 71 | ||||
Past contractual redemption date due to remaining activity | 60,500 | [1] | 1,121 | [1] | ||
Total par value | $62,963 | $115,853 | $210,828 | $274,781 | ||
[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 $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
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 | 97 | -121 | 1,014 |
Total other comprehensive income adjustments | -7,554 | 2,692 | -733 |
Accumulated other comprehensive loss, end of period | -16,596 | -9,042 | |
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 | -121 | 0 | -1,014 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | 97 | -121 | 1,014 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, before Tax | 0 | 0 | 0 |
Amortization - Pension and postretirement benefits | 0 | 0 | 0 |
Total other comprehensive income adjustments | 97 | -121 | 1,014 |
Accumulated other comprehensive loss, end of period | -24 | -121 | 0 |
Accumulated Defined Benefit Plans Adjustment [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Accumulated other comprehensive loss, beginning of period | -8,921 | -11,734 | -9,987 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, before Tax | -9,496 | 803 | -2,701 |
Amortization - Pension and postretirement benefits | 1,845 | 2,010 | 954 |
Total other comprehensive income adjustments | -7,651 | 2,813 | -1,747 |
Accumulated other comprehensive loss, end of period | -16,572 | -8,921 | -11,734 |
Accumulated Other Comprehensive Income (Loss) [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Accumulated other comprehensive loss, beginning of period | -9,042 | -11,734 | -11,001 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | 97 | -121 | 1,014 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, before Tax | -9,496 | 803 | -2,701 |
Amortization - Pension and postretirement benefits | 1,845 | 2,010 | 954 |
Total other comprehensive income adjustments | -7,554 | 2,692 | -733 |
Accumulated other comprehensive loss, end of period | ($16,596) | ($9,042) | ($11,734) |
Pension_and_Postretirement_Ben2
Pension and Postretirement Benefit Plans Narrative (Details) (Pentegra Defined Contribution Plan [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Pentegra Defined Contribution Plan [Member] | |||
Employee Retirement Plans [Line Items] | |||
Defined Contribution Plan, Cost Recognized | $943,000 | $875,000 | $848,000 |
Pension_and_Postretirement_Ben3
Pension and Postretirement Benefit Plans Pentegra Defined Benefit Plan (Details) (USD $) | 12 Months Ended | |||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 01, 2014 | Jul. 01, 2013 | Jul. 01, 2012 | ||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Multiemployer Plan Number | 333 | |||||||
Pentegra Defined Benefit Plan [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Multiemployer Plan, Period Contributions | $6,041 | $5,516 | $4,638 | |||||
Pentegra Defined Benefit Plan Funded Status | 111.31% | [1] | 101.31% | [2] | 108.39% | |||
FHLBank's Funded Status | 128.27% | 107.36% | 110.48% | |||||
Multiemployer Plans, Pension [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Entity Tax Identification Number | 135645888 | |||||||
[1] | The Pentegra Defined Benefit Plan's funded status as of July 1, 2014 is preliminary and may increase because the plan's participants were permitted to make contributions for the plan year ended June 30, 2014 through March 15, 2015. Contributions made on or before March 15, 2015, and designated for the plan year ended June 30, 2014, will be included in the final valuation as of July 1, 2014. The final funded status as of July 1, 2014 will not be available until the Form 5500 for the plan year July 1, 2014 through June 30, 2015 is filed (this Form 5500 is due to be filed no later than April 2016). | |||||||
[2] | The Pentegra Defined Benefit Plan's funded status as of July 1, 2013 is preliminary and may increase because the plan's participants were permitted to make contributions for the plan year ended June 30, 2013 through March 15, 2014. Contributions made on or before March 15, 2014, and designated for the plan year ended June 30, 2013, will be included in the final valuation as of July 1, 2013. The final funded status as of July 1, 2013 will not be available until the Form 5500 for the plan year July 1, 2013 through June 30, 2014 is filed (this Form 5500 is due to be filed no later than April 2015). |
Pension_and_Postretirement_Ben4
Pension and Postretirement Benefit Plans Benefit Obligation (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Pension and Other Postretirement Defined Benefit Plans, Liabilities | $39,057 | $30,468 | |
Supplemental Employee Retirement Plan [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Defined Benefit Plan, Benefit Obligation | 26,511 | 27,293 | |
Defined Benefit Plan, Service Cost | 524 | 494 | 578 |
Defined Benefit Plan, Interest Cost | 1,234 | 986 | 963 |
Defined Benefit Plan, Actuarial Loss (Gain) | 8,335 | 215 | 2,261 |
Defined Benefit Plan, Benefits Paid | -2,744 | -2,477 | |
Defined Benefit Plan, Benefit Obligation | 33,860 | 26,511 | 27,293 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Defined Benefit Plan, Contributions by Employer | 2,744 | 2,477 | |
Defined Benefit Plan, Benefits Paid | -2,744 | -2,477 | |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | 0 |
Defined Benefit Plan, Funded Status of Plan | -33,860 | -26,511 | |
Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Defined Benefit Plan, Benefit Obligation | 3,957 | 4,859 | |
Defined Benefit Plan, Service Cost | 53 | 58 | 72 |
Defined Benefit Plan, Interest Cost | 190 | 199 | 200 |
Defined Benefit Plan, Actuarial Loss (Gain) | 1,161 | -1,018 | 440 |
Defined Benefit Plan, Benefits Paid | -164 | -141 | |
Defined Benefit Plan, Benefit Obligation | 5,197 | 3,957 | 4,859 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Defined Benefit Plan, Contributions by Employer | 164 | 141 | |
Defined Benefit Plan, Benefits Paid | -164 | -141 | |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | 0 |
Defined Benefit Plan, Funded Status of Plan | ($5,197) | ($3,957) |
Pension_and_Postretirement_Ben5
Pension and Postretirement Benefit Plans Amounts Recognized in AOCI (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Supplemental Employee Retirement Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive (Income) Loss, Net (Gains) Losses, before Tax | $15,409 | $8,919 |
Other Postretirement Benefit Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive (Income) Loss, Net (Gains) Losses, before Tax | $1,163 | $2 |
Pension_and_Postretirement_Ben6
Pension and Postretirement Benefit Plans Net Periodic Benefit Cost (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent | $7,651 | ($2,813) | $1,747 |
Supplemental Employee Retirement Plan [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Service Cost | 524 | 494 | 578 |
Defined Benefit Plan, Interest Cost | 1,234 | 986 | 963 |
Defined Benefit Plan, Amortization of net loss | 1,845 | 1,948 | 932 |
Defined Benefit Plan, Net Periodic Benefit Cost | 3,603 | 3,428 | 2,473 |
Defined Benefit Plan, Actuarial Loss (Gain) | 8,335 | 215 | 2,261 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent | 6,490 | -1,733 | 1,329 |
Amount Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss), before Tax | 10,093 | 1,695 | 3,802 |
Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Service Cost | 53 | 58 | 72 |
Defined Benefit Plan, Interest Cost | 190 | 199 | 200 |
Defined Benefit Plan, Amortization of net loss | 0 | 62 | 22 |
Defined Benefit Plan, Net Periodic Benefit Cost | 243 | 319 | 294 |
Defined Benefit Plan, Actuarial Loss (Gain) | 1,161 | -1,018 | 440 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent | 1,161 | -1,080 | 418 |
Amount Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss), before Tax | $1,404 | ($761) | $712 |
Pension_and_Postretirement_Ben7
Pension and Postretirement Benefit Plans Amortization for next Fiscal Year (Details) (Scenario, Forecast [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2015 |
Supplemental Employee Retirement Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Future Amortization of Net Loss | $2,405 |
Other Postretirement Benefit Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Future Amortization of Net Loss | $67 |
Pension_and_Postretirement_Ben8
Pension and Postretirement Benefit Plans Benefit Obligation Key Assumptions (Details) | Dec. 31, 2014 | Dec. 31, 2013 |
Supplemental Employee Retirement Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 3.67% | 4.32% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 4.50% | 4.50% |
Other Postretirement Benefit Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 3.96% | 4.88% |
Pension_and_Postretirement_Ben9
Pension and Postretirement Benefit Plans Net Periodic Benefit Cost Key Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Supplemental Employee Retirement Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.32% | 3.26% | 3.96% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 4.50% | 4.50% | 4.50% |
Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.88% | 4.16% | 4.73% |
Recovered_Sheet1
Pension and Postretirement Benefit Plans Postretirement Benefit Plan Assumptions (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components | 44,000 | |
Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation | 1,027,000 | |
Defined Benefit Plan, Effect of One Percentage Point Decrease on Service and Interest Cost Components | 35,000 | |
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | 806,000 | |
Other Postretirement Benefit Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Year | 8.50% | 9.00% |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 5.25% | 5.25% |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2024 | 2024 |
Recovered_Sheet2
Pension and Postretirement Benefit Plans Estimated Future Benefit Payments (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Supplemental Employee Retirement Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | $2,874 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 2,987 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 2,225 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 2,192 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 2,296 |
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter | 8,825 |
Other Postretirement Benefit Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 158 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 163 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 178 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 172 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 181 |
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter | $1,165 |
Segment_Information_Details
Segment Information (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | |||
Net interest income | $316,976 | $327,844 | $308,120 |
Provision for Loan Losses Expensed | 1,459 | ||
Reversal for credit losses | -500 | -7,450 | |
Net interest income after (reversal) provision for credit losses | 317,476 | 335,294 | 306,661 |
Other income | 22,630 | 19,791 | 13,412 |
Other expenses | 68,248 | 64,387 | 57,970 |
Income before assessments | 271,858 | 290,698 | 262,103 |
Affordable Housing Program Assessments | 27,605 | 29,620 | 27,379 |
Net income | 244,253 | 261,078 | 234,724 |
Average assets | 101,157,496 | 93,690,625 | 66,702,003 |
Total assets | 106,640,419 | 103,180,702 | 81,562,150 |
Traditional Member Finance [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 237,828 | 229,559 | 209,636 |
Provision for Loan Losses Expensed | 0 | ||
Reversal for credit losses | 0 | 0 | |
Net interest income after (reversal) provision for credit losses | 237,828 | 229,559 | 209,636 |
Other income | 22,460 | 30,505 | 12,930 |
Other expenses | 58,876 | 55,459 | 50,082 |
Income before assessments | 201,412 | 204,605 | 172,484 |
Affordable Housing Program Assessments | 20,560 | 21,011 | 18,417 |
Net income | 180,852 | 183,594 | 154,067 |
Average assets | 94,333,213 | 86,609,248 | 58,707,558 |
Total assets | 99,629,924 | 96,336,915 | 74,003,271 |
Mortgage Purchase Program [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 79,148 | 98,285 | 98,484 |
Provision for Loan Losses Expensed | 1,459 | ||
Reversal for credit losses | -500 | -7,450 | |
Net interest income after (reversal) provision for credit losses | 79,648 | 105,735 | 97,025 |
Other income | 170 | 482 | |
Other Loss | -10,714 | ||
Other expenses | 9,372 | 8,928 | 7,888 |
Income before assessments | 70,446 | 86,093 | 89,619 |
Affordable Housing Program Assessments | 7,045 | 8,609 | 8,962 |
Net income | 63,401 | 77,484 | 80,657 |
Average assets | 6,824,283 | 7,081,377 | 7,994,445 |
Total assets | $7,010,495 | $6,843,787 | $7,558,879 |
Fair_Value_Disclosures_Fair_Va1
Fair Value Disclosures Fair Value Summary (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Thousands, unless otherwise specified | ||||||
Assets | ||||||
Trading securities | $1,341 | $1,578 | ||||
Available-for-sale securities | 1,349,977 | 2,184,879 | ||||
Held-to-maturity Securities | 14,712,271 | [1] | 16,087,162 | [1] | ||
Held-to-maturity Securities, Fair Value | 14,794,326 | 15,808,397 | ||||
Derivative assets | 14,699 | 3,241 | ||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | -9,832 | [2],[3] | -36,204 | [2],[3] | ||
Advances, Fair Value Disclosure | 15,042 | [4] | 0 | [4] | 0 | 0 |
Liabilities | ||||||
Mandatorily redeemable capital stock | 62,963 | 115,853 | 210,828 | 274,781 | ||
Derivative liabilities | 63,767 | 97,766 | ||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | -85,867 | [2],[3] | -126,069 | [2],[3] | ||
Consolidated Obligation Bonds [Member] | ||||||
Liabilities | ||||||
Consolidated Obligations, Bonds | 4,209,640 | 4,018,370 | 3,402,366 | 4,900,296 | ||
Fair Value, Inputs, Level 1 [Member] | ||||||
Assets | ||||||
Cash and Due from Banks | 3,109,970 | 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 | [5] | 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 | 62,963 | 115,853 | ||||
Accrued Interest Payable, Fair Value Disclosure | 0 | 0 | ||||
Derivative liabilities | 0 | 0 | ||||
Fair Value, Inputs, Level 1 [Member] | Financial Standby Letter of Credit [Member] | ||||||
Other [Abstract] | ||||||
Commitments, Fair Value Disclosure | 0 | 0 | ||||
Fair Value, Inputs, Level 1 [Member] | Consolidated Obligation Bonds [Member] | ||||||
Liabilities | ||||||
Consolidated Obligations, Bonds | 0 | [6] | 0 | [7] | ||
Fair Value, Inputs, Level 1 [Member] | Discount Notes [Member] | ||||||
Liabilities | ||||||
Consolidated Obligations, Discount Notes | 0 | 0 | ||||
Fair Value, Inputs, Level 2 [Member] | ||||||
Assets | ||||||
Cash and Due from Banks | 0 | 0 | ||||
Interest-bearing deposits | 119 | 166 | ||||
Securities purchased under resale agreements | 3,343,002 | 2,350,000 | ||||
Federal funds sold | 6,600,000 | 1,740,000 | ||||
Trading securities | 1,341 | 1,578 | ||||
Available-for-sale securities | 1,349,977 | 2,184,879 | ||||
Held-to-maturity Securities, Fair Value | 14,794,326 | 15,808,397 | ||||
Advances | 70,279,438 | [5] | 65,065,523 | |||
Mortgage loans held for portfolio, net | 7,178,047 | 6,774,514 | ||||
Accrued interest receivable | 81,384 | 85,151 | ||||
Derivative assets | 24,531 | 39,445 | ||||
Liabilities | ||||||
Deposits | 729,782 | 913,799 | ||||
Mandatorily redeemable capital stock | 0 | 0 | ||||
Accrued Interest Payable, Fair Value Disclosure | 114,781 | 116,381 | ||||
Derivative liabilities | 149,634 | 223,835 | ||||
Fair Value, Inputs, Level 2 [Member] | Financial Standby Letter of Credit [Member] | ||||||
Other [Abstract] | ||||||
Commitments, Fair Value Disclosure | 1,381 | 3,715 | ||||
Fair Value, Inputs, Level 2 [Member] | Consolidated Obligation Bonds [Member] | ||||||
Liabilities | ||||||
Consolidated Obligations, Bonds | 59,496,247 | [6] | 58,075,025 | [7] | ||
Fair Value, Inputs, Level 2 [Member] | Discount Notes [Member] | ||||||
Liabilities | ||||||
Consolidated Obligations, Discount Notes | 41,224,739 | 38,200,971 | ||||
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 | [5] | 0 | |||
Mortgage loans held for portfolio, net | 41,151 | 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] | Financial Standby Letter of Credit [Member] | ||||||
Other [Abstract] | ||||||
Commitments, Fair Value Disclosure | 0 | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | Consolidated Obligation Bonds [Member] | ||||||
Liabilities | ||||||
Consolidated Obligations, Bonds | 0 | [6] | 0 | [7] | ||
Fair Value, Inputs, Level 3 [Member] | Discount Notes [Member] | ||||||
Liabilities | ||||||
Consolidated Obligations, Discount Notes | 0 | 0 | ||||
Carrying Value | ||||||
Assets | ||||||
Cash and Due from Banks | 3,109,970 | 8,598,933 | ||||
Interest-bearing deposits | 119 | 166 | ||||
Securities purchased under resale agreements | 3,343,000 | 2,350,000 | ||||
Federal funds sold | 6,600,000 | 1,740,000 | ||||
Trading securities | 1,341 | 1,578 | ||||
Available-for-sale securities | 1,349,977 | 2,184,879 | ||||
Held-to-maturity Securities | 14,712,271 | 16,087,162 | ||||
Advances | 70,405,616 | [5] | 65,270,390 | |||
Mortgage loans held for portfolio, net | 6,984,683 | 6,818,290 | ||||
Accrued interest receivable | 81,384 | 85,151 | ||||
Derivative assets | 14,699 | 3,241 | ||||
Liabilities | ||||||
Deposits | 729,936 | 913,895 | ||||
Mandatorily redeemable capital stock | 62,963 | 115,853 | ||||
Accrued Interest Payable, Fair Value Disclosure | 114,781 | 116,381 | ||||
Derivative liabilities | 63,767 | 97,766 | ||||
Carrying Value | Financial Standby Letter of Credit [Member] | ||||||
Other [Abstract] | ||||||
Commitments, Fair Value Disclosure | 0 | 0 | ||||
Carrying Value | Consolidated Obligation Bonds [Member] | ||||||
Liabilities | ||||||
Consolidated Obligations, Bonds | 59,216,557 | [6] | 58,162,739 | [7] | ||
Carrying Value | Discount Notes [Member] | ||||||
Liabilities | ||||||
Consolidated Obligations, Discount Notes | 41,232,127 | 38,209,946 | ||||
Fair Value | ||||||
Assets | ||||||
Cash and Due from Banks | 3,109,970 | 8,598,933 | ||||
Interest-bearing deposits | 119 | 166 | ||||
Securities purchased under resale agreements | 3,343,002 | 2,350,000 | ||||
Federal funds sold | 6,600,000 | 1,740,000 | ||||
Trading securities | 1,341 | 1,578 | ||||
Available-for-sale securities | 1,349,977 | 2,184,879 | ||||
Held-to-maturity Securities, Fair Value | 14,794,326 | 15,808,397 | ||||
Advances | 70,279,438 | [5] | 65,065,523 | |||
Mortgage loans held for portfolio, net | 7,219,198 | 6,827,406 | ||||
Accrued interest receivable | 81,384 | 85,151 | ||||
Derivative assets | 14,699 | 3,241 | ||||
Liabilities | ||||||
Deposits | 729,782 | 913,799 | ||||
Mandatorily redeemable capital stock | 62,963 | 115,853 | ||||
Accrued Interest Payable, Fair Value Disclosure | 114,781 | 116,381 | ||||
Derivative liabilities | 63,767 | 97,766 | ||||
Fair Value | Financial Standby Letter of Credit [Member] | ||||||
Other [Abstract] | ||||||
Commitments, Fair Value Disclosure | 1,381 | 3,715 | ||||
Fair Value | Consolidated Obligation Bonds [Member] | ||||||
Liabilities | ||||||
Consolidated Obligations, Bonds | 59,496,247 | [6] | 58,075,025 | [7] | ||
Fair Value | Discount Notes [Member] | ||||||
Liabilities | ||||||
Consolidated Obligations, Discount Notes | $41,224,739 | $38,200,971 | ||||
[1] | Fair values: $14,794,326 and $15,808,397 at December 31, 2014 and 2013, respectively. | |||||
[2] | 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 clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $78,755 and $109,288 at December 31, 2014 and 2013. Cash collateral received and related accrued interest was (in thousands) $2,720 and $19,423 at December 31, 2014 and 2013. | |||||
[3] | 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. | |||||
[4] | At December 31, 2014 and 2013, none of the Advances were 90 days or more past due or had been placed on non-accrual status. | |||||
[5] | Includes (in thousands) $15,042 of Advances recorded under the fair value option at December 31, 2014. | |||||
[6] | Includes (in thousands) $4,209,640 of Consolidated Obligation Bonds recorded under the fair value option at December 31, 2014. | |||||
[7] | Includes (in thousands) $4,018,370 of Consolidated Obligation Bonds recorded under the fair value option at December 31, 2013. |
Fair_Value_Disclosures_Fair_Va2
Fair Value Disclosures Fair Value Measured on a Recurring Basis (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Thousands, unless otherwise specified | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Trading securities | $1,341 | $1,578 | ||||
Available-for-sale securities | 1,349,977 | 2,184,879 | ||||
Advances, Fair Value Disclosure | 15,042 | [1] | 0 | [1] | 0 | 0 |
Derivative assets | 14,699 | 3,241 | ||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | -9,832 | [2],[3] | -36,204 | [2],[3] | ||
Derivative liabilities | 63,767 | 97,766 | ||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | -85,867 | [2],[3] | -126,069 | [2],[3] | ||
Consolidated Obligation Bonds [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Consolidated Obligations, Bonds | 4,209,640 | 4,018,370 | 3,402,366 | 4,900,296 | ||
Single Family, Mortgage-backed Securities, Other US Obligations [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Trading securities | 1,341 | [4] | 1,578 | [4] | ||
Certificates of Deposit [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Available-for-sale securities | 1,349,977 | 2,184,879 | ||||
Fair Value, Measurements, Recurring [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Advances, Fair Value Disclosure | 15,042 | |||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | -9,832 | [3] | -36,204 | [3] | ||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | -85,867 | [3] | -126,069 | [3] | ||
Fair Value, Measurements, Recurring [Member] | Consolidated Obligation Bonds [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Consolidated Obligations, Bonds | 4,209,640 | 4,018,370 | ||||
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | -9,832 | [3] | -36,204 | [3] | ||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | -85,867 | [3] | -126,069 | [3] | ||
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 1 [Member] | Consolidated Obligation Bonds [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Consolidated Obligations, Bonds | 0 | [5] | 0 | [6] | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Advances, Fair Value Disclosure | 0 | |||||
Derivative assets | 0 | 0 | ||||
Total assests at fair value | 0 | 0 | ||||
Derivative liabilities | 0 | 0 | ||||
Total liabilities at fair value | 0 | 0 | ||||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Consolidated Obligation Bonds [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Consolidated Obligations, Bonds | 0 | 0 | ||||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative assets | 0 | 0 | ||||
Derivative liabilities | 0 | 0 | ||||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | Mortgages [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative assets | 0 | 0 | ||||
Derivative liabilities | 0 | 0 | ||||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | Collateralized Mortgage Backed Securities [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative assets | 0 | 0 | ||||
Derivative liabilities | 0 | |||||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Single Family, Mortgage-backed Securities, Other US Obligations [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Trading securities | 0 | 0 | ||||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Certificates of Deposit [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Available-for-sale securities | 0 | 0 | ||||
Fair Value, Inputs, Level 2 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Trading securities | 1,341 | 1,578 | ||||
Available-for-sale securities | 1,349,977 | 2,184,879 | ||||
Derivative assets | 24,531 | 39,445 | ||||
Derivative liabilities | 149,634 | 223,835 | ||||
Fair Value, Inputs, Level 2 [Member] | Consolidated Obligation Bonds [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Consolidated Obligations, Bonds | 59,496,247 | [5] | 58,075,025 | [6] | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Advances, Fair Value Disclosure | 15,042 | |||||
Derivative assets | 24,531 | 39,445 | ||||
Total assests at fair value | 1,390,891 | 2,225,902 | ||||
Derivative liabilities | 149,634 | 223,835 | ||||
Total liabilities at fair value | 4,359,274 | 4,242,205 | ||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Consolidated Obligation Bonds [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Consolidated Obligations, Bonds | 4,209,640 | 4,018,370 | ||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative assets | 20,726 | 38,989 | ||||
Derivative liabilities | 144,709 | 223,423 | ||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | Mortgages [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative assets | 3,799 | 2 | ||||
Derivative liabilities | 1 | 412 | ||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | Collateralized Mortgage Backed Securities [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative assets | 6 | 454 | ||||
Derivative liabilities | 4,924 | |||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Single Family, Mortgage-backed Securities, Other US Obligations [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Trading securities | 1,341 | 1,578 | ||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Certificates of Deposit [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Available-for-sale securities | 1,349,977 | 2,184,879 | ||||
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 | ||||
Fair Value, Inputs, Level 3 [Member] | Consolidated Obligation Bonds [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Consolidated Obligations, Bonds | 0 | [5] | 0 | [6] | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Advances, Fair Value Disclosure | 0 | |||||
Derivative assets | 0 | 0 | ||||
Total assests at fair value | 0 | 0 | ||||
Derivative liabilities | 0 | 0 | ||||
Total liabilities at fair value | 0 | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Consolidated Obligation Bonds [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Consolidated Obligations, Bonds | 0 | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative assets | 0 | 0 | ||||
Derivative liabilities | 0 | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | Mortgages [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative assets | 0 | 0 | ||||
Derivative liabilities | 0 | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | Collateralized Mortgage Backed Securities [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative assets | 0 | 0 | ||||
Derivative liabilities | 0 | |||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Single Family, Mortgage-backed Securities, Other US Obligations [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Trading securities | 0 | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Certificates of Deposit [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Available-for-sale securities | 0 | 0 | ||||
Fair Value | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Trading securities | 1,341 | 1,578 | ||||
Available-for-sale securities | 1,349,977 | 2,184,879 | ||||
Derivative assets | 14,699 | 3,241 | ||||
Derivative liabilities | 63,767 | 97,766 | ||||
Fair Value | Consolidated Obligation Bonds [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Consolidated Obligations, Bonds | 59,496,247 | [5] | 58,075,025 | [6] | ||
Fair Value | Fair Value, Measurements, Recurring [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative assets | 14,699 | 3,241 | ||||
Total assests at fair value | 1,381,059 | 2,189,698 | ||||
Derivative liabilities | 63,767 | 97,766 | ||||
Total liabilities at fair value | 4,273,407 | 4,116,136 | ||||
Fair Value | Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative assets | 10,894 | 2,785 | ||||
Derivative liabilities | 58,842 | 97,354 | ||||
Fair Value | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | Mortgages [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative assets | 3,799 | 2 | ||||
Derivative liabilities | 1 | 412 | ||||
Fair Value | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | Collateralized Mortgage Backed Securities [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative assets | 6 | 454 | ||||
Derivative liabilities | 4,924 | |||||
Fair Value | Fair Value, Measurements, Recurring [Member] | Single Family, Mortgage-backed Securities, Other US Obligations [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Trading securities | 1,341 | 1,578 | ||||
Fair Value | Fair Value, Measurements, Recurring [Member] | Certificates of Deposit [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Available-for-sale securities | $1,349,977 | $2,184,879 | ||||
[1] | At December 31, 2014 and 2013, none of the Advances were 90 days or more past due or had been placed on non-accrual status. | |||||
[2] | 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 clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $78,755 and $109,288 at December 31, 2014 and 2013. Cash collateral received and related accrued interest was (in thousands) $2,720 and $19,423 at December 31, 2014 and 2013. | |||||
[3] | 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. | |||||
[4] | Consists of Government National Mortgage Association (Ginnie Mae) mortgage-backed securities. | |||||
[5] | Includes (in thousands) $4,209,640 of Consolidated Obligation Bonds recorded under the fair value option at December 31, 2014. | |||||
[6] | Includes (in thousands) $4,018,370 of Consolidated Obligation Bonds recorded under the fair value option at December 31, 2013. |
Fair_Value_Disclosures_Fair_Va3
Fair Value Disclosures Fair Value Option (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Fair Value, Option, Quantitative Disclosures [Roll Forward] | ||||||
Advances, Fair Value Disclosure | $0 | [1] | $0 | $0 | ||
Fair Value, Option, Quantitative Disclosures, Transactions Elected for Fair Value Option, Assets | 15,000 | 0 | 0 | |||
Fair Value Option, Quantitative Disclosures, Maturities and Terminations, Assets | 0 | 0 | 0 | |||
Net gains (losses) on instruments held under the fair value option | 2,174 | 330 | 1,939 | |||
Fair Value Option, Quantitative Disclosures, Change in Accrued Interest, Assets | 22 | 0 | 0 | |||
Advances, Fair Value Disclosure | 15,042 | [1] | 0 | [1] | 0 | |
Fair Value, Option, Quantitative Disclosures, Transactions Elected for Fair Value Option, Liabilities | -6,480,000 | -4,015,000 | -3,365,000 | |||
Fair Value Option, Quantitative Disclosures, Maturities and Terminations, Liabilities | 6,285,000 | 3,400,000 | 4,860,000 | |||
Fair Value Option, Quantitative Disclosures, Change in Accrued Interest, Liabilities | 1,576 | -1,334 | 991 | |||
Advances [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Roll Forward] | ||||||
Net gains (losses) on instruments held under the fair value option | 20 | 0 | 0 | |||
Consolidated Obligation Bonds [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Roll Forward] | ||||||
Net gains (losses) on instruments held under the fair value option | 2,154 | 330 | 1,939 | |||
Consolidated Obligation Bonds [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Roll Forward] | ||||||
Debt Instrument, Fair Value Disclosure | -4,900,296 | |||||
Debt Instrument, Fair Value Disclosure | ($4,209,640) | ($4,018,370) | ($3,402,366) | ($4,900,296) | ||
[1] | At December 31, 2014 and 2013, none of the Advances were 90 days or more past due or had been placed on non-accrual status. |
Fair_Value_Disclosures_Fair_Va4
Fair Value Disclosures Fair Value Impact on Financial Performance (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Interest and Dividend Income, Operating | $908,349 | $900,155 | $920,843 |
Interest Expense | -591,373 | -572,311 | -612,723 |
Net gains (losses) on instruments held under the fair value option | 2,174 | 330 | 1,939 |
Advances [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Interest and Dividend Income, Operating | 82 | 0 | 0 |
Net gains (losses) on instruments held under the fair value option | 20 | 0 | 0 |
Fair Value Option, Total Change in Fair Value Included in Earnings | 102 | 0 | 0 |
Consolidated Obligation Bonds [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Interest Expense | -5,899 | -4,914 | -8,934 |
Net gains (losses) on instruments held under the fair value option | 2,154 | 330 | 1,939 |
Fair Value Option, Total Change in Fair Value Included in Earnings | ($3,745) | ($4,584) | ($6,995) |
Fair_Value_Disclosures_Fair_Va5
Fair Value Disclosures Fair Value Difference Between Fair Value and Remaining Contractual Principal Balance Outstanding (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Thousands, unless otherwise specified | ||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||
Fair Value Option, Principal Balance, Assets | $15,000 | [1] | $0 | [1] | ||
Advances, Fair Value Disclosure | 15,042 | [1] | 0 | [1] | 0 | 0 |
Federal Home Loan Bank, Advances, Valuation Adjustments under Fair Value Option | 42 | [1] | 0 | [1] | ||
Consolidated Obligation Bonds [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||
Aggregate Unpaid Principal Balance | 4,210,000 | 4,015,000 | ||||
Aggregate Fair Value | 4,209,640 | 4,018,370 | 3,402,366 | 4,900,296 | ||
Fair value option valuation adjustment and accrued interest | ($360) | $3,370 | ||||
[1] | At December 31, 2014 and 2013, none of the Advances were 90 days or more past due or had been placed on non-accrual status. |
Commitments_and_Contingencies_1
Commitments and Contingencies Narrative (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Loss Contingencies [Line Items] | ||
Other Liabilities | 183,177 | $160,226 |
Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Other Liabilities | 4,441 | $3,145 |
Maximum [Member] | ||
Loss Contingencies [Line Items] | ||
Standby Letters of Credit Original Terms | 19 years |
Commitments_and_Contingencies_2
Commitments and Contingencies (Details) (USD $) | Dec. 31, 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 | $17,233,206 | $13,317,887 | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 546,385 | 154,086 | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 17,779,591 | 13,471,973 | ||
Financial Standby Letter of Credit [Member] | ||||
Loss Contingencies [Line Items] | ||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 37,490 | 10,960 | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 149,705 | 273,025 | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 187,195 | 283,985 | ||
Forward Contracts [Member] | Mortgages [Member] | ||||
Loss Contingencies [Line Items] | ||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 451,292 | 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 | 451,292 | 36,620 | ||
Consolidated Obligation Bonds [Member] | ||||
Loss Contingencies [Line Items] | ||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 17,000 | [1],[2] | 240,000 | [1],[2] |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 0 | [1],[2] | 0 | [1],[2] |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 17,000 | [1],[2] | 240,000 | [1],[2] |
Consolidated Obligation Bonds [Member] | Interest Rate Swap [Member] | ||||
Loss Contingencies [Line Items] | ||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 17,000 | 0 | ||
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. | |||
[2] | Of the total unsettled Consolidated Bonds, $17,000 and $0 (in thousands) were hedged with associated interest rate swaps at December 31, 2014 and 2013, respectively. |
Commitments_and_Contingencies_3
Commitments and Contingencies Lease Schedule (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Operating Leased Assets [Line Items] | |||
Operating Leases, Rent Expense, Net | $1,816,000 | $1,713,000 | $1,905,000 |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 977,000 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 898,000 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 901,000 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 849,000 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 796,000 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 5,865,000 | ||
Operating Leases, Future Minimum Payments Due | 10,286,000 | ||
Building [Member] | |||
Operating Leased Assets [Line Items] | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 831,000 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 755,000 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 758,000 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 777,000 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 796,000 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 5,865,000 | ||
Operating Leases, Future Minimum Payments Due | 9,782,000 | ||
Technology Equipment [Member] | |||
Operating Leased Assets [Line Items] | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 146,000 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 143,000 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 143,000 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 72,000 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 0 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 0 | ||
Operating Leases, Future Minimum Payments Due | $504,000 |
Commitments_and_Contingencies_4
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 $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Other Transactions [Line Items] | |||
Proceeds from Bonds Transferred from Other Federal Home Loan Banks | $0 | $0 | $0 |
Payments for Bonds Transferred to Other Federal Home Loan Banks | 0 | 0 | 0 |
Other FHLBanks [Member] | |||
Schedule of Other Transactions [Line Items] | |||
Loans Receivable, Average Outstanding Amount | 438 | 3,740 | 2,514 |
Other FHLBanks [Member] | |||
Schedule of Other Transactions [Line Items] | |||
Short-term Debt, Average Outstanding Amount | $68 | $4,110 | $273 |
Transactions_with_Stockholders2
Transactions with Stockholders (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
Schedule of Other Transactions [Line Items] | ||||
Advances | $70,405,616,000 | $65,270,390,000 | ||
Loans And Leases Receivable, Unpaid Principal Balance | 6,796,004,000 | 6,643,199,000 | ||
Director Transaction [Member] | ||||
Schedule of Other Transactions [Line Items] | ||||
Advances | 2,929,000,000 | 1,611,000,000 | ||
Federal Home Loan Bank Advances, Percent of Principal | 4.20% | [1] | 2.50% | [1] |
Loans And Leases Receivable, Unpaid Principal Balance | 154,000,000 | 57,000,000 | ||
Federal Home Loan Bank, Mortgage Purchase Program, Unpaid Principal Balance, Percent of Total | 2.30% | [1] | 0.90% | [1] |
Regulatory Capital Stock, Value | $225,000,000 | $246,000,000 | ||
Regulatory Capital Stock, Percent of Total | 5.20% | [1] | 5.10% | [1] |
[1] | Percentage of total principal (Advances), unpaid principal balance (MPP), and regulatory capital stock. |
Transactions_with_Stockholders3
Transactions with Stockholders (Concentrations) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Concentration Risk [Line Items] | ||
Advances | $70,405,616,000 | $65,270,390,000 |
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 | 41,300,000,000 | 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 | 8,338,000,000 | 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 | 38,000,000 | 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 | 24,000,000 | 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 | $3,000,000 | $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 |