Document and Entity Information
Document and Entity Information Document - shares | 9 Months Ended | |
Sep. 30, 2015 | Oct. 31, 2015 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | Federal Home Loan Bank of Cincinnati | |
Entity Central Index Key | 1,326,771 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 44,661,836 |
Statements of Condition
Statements of Condition - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
ASSETS | |||
Cash and due from banks | $ 971,159 | $ 3,109,970 | |
Interest-bearing deposits | 153 | 119 | |
Securities purchased under agreements to resell | 2,724,000 | 3,343,000 | |
Federal funds sold | 5,390,000 | 6,600,000 | |
Investment securities: | |||
Trading securities | 1,206 | 1,341 | |
Available-for-sale securities | 1,000,030 | 1,349,977 | |
Held-to-maturity securities (includes $0 and $0 pledged as collateral at September 30, 2015 and December 31, 2014, respectively, that may be repledged) | [1] | 15,087,225 | 14,712,271 |
Total investment securities | 16,088,461 | 16,063,589 | |
Advances (includes $15,214 and $15,042 at fair value under fair value option at September 30, 2015 and December 31, 2014, respectively) | 77,320,323 | 70,405,616 | |
Mortgage loans held for portfolio: | |||
Mortgage loans held for portfolio | 8,014,462 | 6,989,602 | |
Less: allowance for credit losses on mortgage loans | 1,715 | 4,919 | |
Mortgage loans held for portfolio, net | 8,012,747 | 6,984,683 | |
Accrued interest receivable | 90,158 | 81,384 | |
Premises, software, and equipment, net | 10,494 | 11,282 | |
Derivative assets | 25,367 | 14,699 | |
Other assets | 18,859 | 26,077 | |
TOTAL ASSETS | 110,651,721 | 106,640,419 | |
LIABILITIES | |||
Deposits | 755,651 | 729,936 | |
Consolidated Obligations, net: | |||
Discount Notes | 60,086,261 | 41,232,127 | |
Bonds (includes $5,757,546 and $4,209,640 at fair value under fair value option at September 30, 2015 and December 31, 2014, respectively) | 44,142,498 | 59,216,557 | |
Total Consolidated Obligations, net | 104,228,759 | 100,448,684 | |
Mandatorily redeemable capital stock | 59,088 | 62,963 | |
Accrued interest payable | 126,037 | 114,781 | |
Affordable Housing Program payable | 104,132 | 98,103 | |
Derivative liabilities | 41,398 | 63,767 | |
Other liabilities | 209,382 | 183,177 | |
Total liabilities | $ 105,524,447 | $ 101,701,411 | |
Commitments and contingencies | |||
CAPITAL | |||
Capital stock Class B putable ($100 par value); issued and outstanding shares: 43,952 shares at September 30, 2015 and 42,665 shares at December 31, 2014 | $ 4,395,176 | $ 4,266,543 | |
Retained earnings: | |||
Unrestricted | 549,809 | 529,367 | |
Restricted | 196,869 | 159,694 | |
Total retained earnings | 746,678 | 689,061 | |
Accumulated other comprehensive loss | (14,580) | (16,596) | |
Total capital | 5,127,274 | 4,939,008 | |
TOTAL LIABILITIES AND CAPITAL | $ 110,651,721 | $ 106,640,419 | |
[1] | Fair values: $15,219,796 and $14,794,326 at September 30, 2015 and December 31, 2014, respectively. |
Statements of Condition (Parent
Statements of Condition (Parenthetical) - USD ($) shares in Thousands, $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |||
Held-to-maturity Securities Pledged as Collateral | $ 0 | $ 0 | |||
Advances, Fair Value Disclosure | [1] | $ 15,214 | $ 15,042 | ||
Common Stock, Par or Stated Value Per Share | $ 100 | $ 100 | |||
Common Stock, Shares, Issued | 43,952 | 42,665 | |||
Common Stock, Shares, Outstanding | 43,952 | 42,665 | |||
Held-to-maturity Securities, Fair Value | $ 15,219,796 | $ 14,794,326 | |||
Consolidated Obligation Bonds [Member] | |||||
Consolidated Obligations, Bonds | 5,757,546 | 4,209,640 | |||
Fair Value | |||||
Held-to-maturity Securities, Fair Value | 15,219,796 | 14,794,326 | |||
Fair Value | Consolidated Obligation Bonds [Member] | |||||
Consolidated Obligations, Bonds | $ 44,632,920 | [2] | $ 59,496,247 | [3] | |
[1] | At September 30, 2015 and December 31, 2014, none of the Advances were 90 days or more past due or had been placed on non-accrual status. | ||||
[2] | Includes (in thousands) $5,757,546 of Consolidated Obligation Bonds recorded under the fair value option at September 30, 2015. | ||||
[3] | Includes (in thousands) $4,209,640 of Consolidated Obligation Bonds recorded under the fair value option at December 31, 2014. |
Statements of Income
Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
INTEREST INCOME: | ||||
Advances | $ 93,204 | $ 78,887 | $ 264,471 | $ 232,084 |
Prepayment fees on Advances, net | 439 | 383 | 1,731 | 2,454 |
Interest-bearing deposits | 21 | 21 | 62 | 64 |
Securities purchased under agreements to resell | 437 | 276 | 1,213 | 897 |
Federal funds sold | 2,482 | 1,247 | 6,252 | 3,606 |
Trading securities | 6 | 6 | 17 | 19 |
Available-for-sale securities | 725 | 817 | 1,601 | 2,565 |
Held-to-maturity securities | 81,348 | 83,855 | 241,113 | 261,208 |
Mortgage loans held for portfolio | 59,291 | 62,860 | 180,784 | 180,569 |
Total interest income | 237,953 | 228,352 | 697,244 | 683,466 |
INTEREST EXPENSE: | ||||
Consolidated Obligations - Discount Notes | 15,132 | 6,243 | 35,401 | 20,939 |
Consolidated Obligations - Bonds | 145,045 | 137,798 | 420,423 | 421,790 |
Deposits | 83 | 63 | 260 | 190 |
Mandatorily redeemable capital stock | 671 | 1,125 | 1,920 | 3,476 |
Total interest expense | 160,931 | 145,229 | 458,004 | 446,395 |
NET INTEREST INCOME | 77,022 | 83,123 | 239,240 | 237,071 |
Reversal for credit losses | 0 | 0 | 0 | (900) |
NET INTEREST INCOME AFTER REVERSAL FOR CREDIT LOSSES | 77,022 | 83,123 | 239,240 | 237,971 |
NON-INTEREST INCOME: | ||||
Net losses on trading securities | (2) | (2) | (9) | (6) |
Net (losses) gains on financial instruments held under fair value option | (101) | (159) | (1,711) | 1,121 |
Net gains on derivatives and hedging activities | 5,392 | 89 | 12,975 | 2,338 |
Standby Letters of Credit fees | 3,255 | 2,801 | 9,564 | 7,770 |
Other, net | 830 | 1,052 | 2,221 | 2,626 |
Total non-interest income | 9,374 | 3,781 | 23,040 | 13,849 |
NON-INTEREST EXPENSE: | ||||
Compensation and benefits | 9,795 | 9,598 | 29,608 | 27,332 |
Other operating expenses | 5,751 | 4,484 | 15,202 | 13,060 |
Finance Agency | 1,676 | 1,625 | 5,029 | 5,190 |
Office of Finance | 1,234 | 1,149 | 3,476 | 3,360 |
Other | 364 | 562 | 2,223 | 2,237 |
Total non-interest expense | 18,820 | 17,418 | 55,538 | 51,179 |
INCOME BEFORE ASSESSMENTS | 67,576 | 69,486 | 206,742 | 200,641 |
Affordable Housing Program Assessments | 6,824 | 7,061 | 20,866 | 20,412 |
NET INCOME | $ 60,752 | $ 62,425 | $ 185,876 | $ 180,229 |
Statements of Comprehensive Inc
Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net income | $ 60,752 | $ 62,425 | $ 185,876 | $ 180,229 |
Other comprehensive income adjustments: | ||||
Net unrealized gains on available-for-sale securities | 17 | 28 | 54 | 130 |
Pension and postretirement benefits | 726 | 757 | 1,962 | 1,383 |
Total other comprehensive income adjustments | 743 | 785 | 2,016 | 1,513 |
Comprehensive income | $ 61,495 | $ 63,210 | $ 187,892 | $ 181,742 |
Statement of Equity
Statement of Equity - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock [Member] | Retained Earnings, Unrestricted [Member] | Retained Earnings, Restricted [Member] | Retained Earnings, Total [Member] | Accumulated Other Comprehensive Loss [Member] |
Shares, Issued beginning balance at Dec. 31, 2013 | 46,980 | |||||
Beginning balance at Dec. 31, 2013 | $ 5,310,107 | $ 4,697,985 | $ 510,321 | $ 110,843 | $ 621,164 | $ (9,042) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Proceeds from sale of capital stock, shares | 483 | |||||
Proceeds from sale of capital stock, par value | 48,326 | $ 48,326 | ||||
Repurchase of capital stock, shares | (4,979) | |||||
Repurchase of capital stock, par 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 | 181,742 | 144,183 | 36,046 | 180,229 | 1,513 | |
Cash dividends on capital stock | (133,800) | (133,800) | (133,800) | |||
Shares, Issued ending balance at Sep. 30, 2014 | 42,313 | |||||
Ending balance at Sep. 30, 2014 | 4,891,390 | $ 4,231,326 | 520,704 | 146,889 | 667,593 | (7,529) |
Shares, Issued beginning balance at Dec. 31, 2014 | 42,665 | |||||
Beginning balance at Dec. 31, 2014 | 4,939,008 | $ 4,266,543 | 529,367 | 159,694 | 689,061 | (16,596) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Proceeds from sale of capital stock, shares | 1,522 | |||||
Proceeds from sale of capital stock, par value | 152,164 | $ 152,164 | ||||
Net shares reclassified to mandatorily redeemable capital stock, shares | (235) | |||||
Net shares reclassified to mandatorily redeemable capital stock, par value | (23,531) | $ (23,531) | ||||
Comprehensive Income | 187,892 | 148,701 | 37,175 | 185,876 | 2,016 | |
Cash dividends on capital stock | (128,259) | (128,259) | (128,259) | |||
Shares, Issued ending balance at Sep. 30, 2015 | 43,952 | |||||
Ending balance at Sep. 30, 2015 | $ 5,127,274 | $ 4,395,176 | $ 549,809 | $ 196,869 | $ 746,678 | $ (14,580) |
Statements of Cash Flows
Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
OPERATING ACTIVITIES: | ||
Net income | $ 185,876 | $ 180,229 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 23,859 | 1,001 |
Net change in derivative and hedging activities | 136 | 13,433 |
Net change in fair value adjustments on trading securities | 9 | 6 |
Net change in fair value adjustments on financial instruments held under fair value option | 1,711 | (1,121) |
Other adjustments | (4) | (794) |
Net change in: | ||
Accrued interest receivable | (8,772) | 4,358 |
Other assets | 6,500 | 3,635 |
Accrued interest payable | 12,279 | (2,864) |
Other liabilities | 33,818 | 10,217 |
Total adjustments | 69,536 | 27,871 |
Net cash provided by operating activities | 255,412 | 208,100 |
Net change in: | ||
Interest-bearing deposits | (28,745) | 27,568 |
Securities purchased under agreements to resell | 619,000 | 1,550,000 |
Federal funds sold | 1,210,000 | (865,000) |
Premises, software, and equipment | (1,198) | (622) |
Trading securities: | ||
Proceeds from maturities of long-term | 125 | 177 |
Available-for-sale securities: | ||
Net decrease in short-term | 350,000 | 40,000 |
Held-to-maturity securities: | ||
Net (increase) decrease in short-term | (6,573) | 1,392 |
Proceeds from maturities of long-term | 1,967,034 | 1,558,418 |
Purchases of long-term | (2,335,814) | (561,789) |
Advances: | ||
Proceeds | 748,391,884 | 811,094,323 |
Made | (755,296,545) | (817,323,372) |
Mortgage loans held for portfolio: | ||
Principal collected | 1,085,371 | 794,538 |
Purchases | (2,140,179) | (895,796) |
Net cash used in investing activities | (6,185,640) | (4,580,163) |
FINANCING ACTIVITIES: | ||
Net increase (decrease) in deposits and pass-through reserves | 24,415 | (163,045) |
Net payments on derivative contracts with financing elements | (18,667) | (22,822) |
Net proceeds from issuance of Consolidated Obligations: | ||
Discount Notes | 210,125,772 | 208,014,633 |
Bonds | 16,068,135 | 35,648,470 |
Payments for maturing and retiring Consolidated Obligations: | ||
Discount Notes | (191,280,449) | (209,343,905) |
Bonds | (31,124,288) | (36,892,317) |
Proceeds from issuance of capital stock | 152,164 | 48,326 |
Payments for repurchase/redemption of mandatorily redeemable capital stock | (27,406) | (23,410) |
Payments for repurchase of capital stock | 0 | (497,875) |
Cash dividends paid | (128,259) | (133,800) |
Net cash provided by (used in) financing activities | 3,791,417 | (3,365,745) |
Net decrease in cash and cash equivalents | (2,138,811) | (7,737,808) |
Cash and cash equivalents at beginning of the period | 3,109,970 | 8,598,933 |
Cash and cash equivalents at end of the period | 971,159 | 861,125 |
Supplemental Disclosures: | ||
Interest paid | 465,369 | 473,738 |
Affordable Housing Program payments, net | $ 14,837 | $ 19,787 |
Background Information
Background Information | 9 Months Ended |
Sep. 30, 2015 | |
Background Information [Abstract] | |
Nature of Operations [Text Block] | Background Information The Federal Home Loan Bank of Cincinnati (the FHLB), a federally chartered corporation, is one of 11 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 FHLB is regulated by the Federal Housing Finance Agency (Finance Agency). |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2015 | |
Basis of Presentation [Abstract] | |
Basis of Accounting [Text Block] | Basis of Presentation The accompanying interim financial statements of the FHLB have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The preparation of financial statements in accordance with GAAP requires management to make assumptions and estimates. These assumptions and estimates affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of income and expenses. Actual results could differ from these estimates. The interim financial statements presented are unaudited, but they include all adjustments (consisting of only normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of the financial condition, results of operations, and cash flows for such periods. These financial statements do not include all disclosures associated with annual financial statements and accordingly should be read in conjunction with the audited financial statements and notes included in the FHLB's Annual Report on Form 10-K for the year ended December 31, 2014 filed with the Securities and Exchange Commission (SEC). Results for the three and nine months ended September 30, 2015 are not necessarily indicative of operating results for the full year. The FHLB presents certain financial instruments, including derivative instruments and securities purchased under agreements to resell, on a net basis when it has a legal right of offset and all other requirements for netting are met (collectively referred to as the netting requirements). For these instruments, the FHLB has elected to offset its asset and liability positions, as well as cash collateral received or pledged, when it has met the netting requirements. The FHLB did not have any offsetting liabilities related to its securities purchased under agreements to resell for the periods presented. The net exposure for these financial instruments can change on a daily basis; therefore, there may be a delay between the time this exposure change is identified and additional collateral is requested, and the time this collateral is received or pledged. Likewise, there may be a delay for excess collateral to be returned. For derivative instruments that meet the requirements for netting, any excess cash collateral received or pledged is recognized as a derivative liability or derivative asset. Additional information regarding these agreements is provided in Note 10. Based on the fair value of the related collateral held, the securities purchased under agreements to resell were fully collateralized for the periods presented. For more information about the FHLB's investments in securities purchased under agreements to resell, see “Item 8. Financial Statements and Supplementary Data - Note 1 - Summary of Significant Accounting Policies” in the FHLB's 2014 Annual Report on Form 10-K. The FHLB has evaluated subsequent events for potential recognition or disclosure through the issuance of these financial statements and believes there have been no material subsequent events requiring additional disclosure or recognition in these financial statements. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards and Interpretations | 9 Months Ended |
Sep. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recently Issued Accounting Standards and Interpretations [Text Block] | Recently Issued Accounting Standards and Interpretations Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement. On April 15, 2015, the Financial Accounting Standards Board (FASB) issued amendments to clarify the accounting for cloud computing arrangements. The amendments provide guidance to customers on determining whether a cloud computing arrangement includes a software license. If the arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If the arrangement does not contain a software license, the customer should account for the arrangement as a service contract. This guidance becomes effective for the FHLB for the interim and annual periods beginning after December 15, 2015. The FHLB is in the process of evaluating this guidance and its effect on the FHLB's financial condition, results of operations, and cash flows. Simplifying the Presentation of Debt Issuance Costs. On April 7, 2015, the FASB issued guidance to simplify the presentation of debt issuance costs. This guidance requires that debt issuance costs related to a recognized debt liability be presented in the Statement of Condition as a direct deduction from the carrying amount of the liability, consistent with the presentation of debt discounts. The adoption of this guidance will result in a reclassification of debt issuance costs from other assets to Consolidated Obligations on the FHLB's Statement of Condition. This guidance becomes effective for the FHLB for the interim and annual periods beginning after December 15, 2015. The guidance is required to be applied on a retrospective basis to each individual period presented on the Statement of Condition. The FHLB is in the process of evaluating this guidance and its effect on the FHLB's financial condition and cash flows. Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure. On August 8, 2014, the 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 FHLB for the interim and annual periods beginning on January 1, 2015, and was adopted prospectively. The adoption of this guidance had no material effect on the FHLB'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 FHLB for interim and annual periods beginning on January 1, 2015. The adoption of this guidance had no material effect on the FHLB'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 FHLB for interim and annual periods beginning on January 1, 2015, and was adopted prospectively. The adoption of this guidance had no material effect on the FHLB'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 had no material effect on the FHLB's financial condition, results of operations, or cash flows. The charge off requirements were implemented on January 1, 2015. The adoption of these requirements had no material effect on the FHLB's financial condition, results of operations, or cash flows. |
Trading Securities
Trading Securities | 9 Months Ended |
Sep. 30, 2015 | |
Trading Securities [Abstract] | |
Trading Securities [Text Block] | Trading Securities Table 3.1 - Trading Securities by Major Security Types (in thousands) Fair Value September 30, 2015 December 31, 2014 Mortgage-backed securities: Other U.S. obligation single-family mortgage-backed securities (1) $ 1,206 $ 1,341 Total $ 1,206 $ 1,341 (1) Consists of Government National Mortgage Association (Ginnie Mae) mortgage-backed securities. Table 3.2 - Net Losses on Trading Securities (in thousands) Nine Months Ended September 30, 2015 2014 Net losses on trading securities held at period end $ (9 ) $ (6 ) Net losses on trading securities $ (9 ) $ (6 ) |
Available-for-Sale Securities
Available-for-Sale Securities | 9 Months Ended |
Sep. 30, 2015 | |
Available-for-sale Securities [Abstract] | |
Available for sale Securities [Text Block] | Available-for-Sale Securities Table 4.1 - Available-for-Sale Securities by Major Security Types (in thousands) September 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 1,000,000 $ 30 $ — $ 1,000,030 Total $ 1,000,000 $ 30 $ — $ 1,000,030 December 31, 2014 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 1,350,001 $ 3 $ (27 ) $ 1,349,977 Total $ 1,350,001 $ 3 $ (27 ) $ 1,349,977 All securities outstanding with gross unrealized losses at December 31, 2014 were in a continuous unrealized loss position for less than 12 months. Table 4.2 - Available-for-Sale Securities by Contractual Maturity (in thousands) September 30, 2015 December 31, 2014 Year of Maturity Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 1,000,000 $ 1,000,030 $ 1,350,001 $ 1,349,977 Table 4.3 - Interest Rate Payment Terms of Available-for-Sale Securities (in thousands) September 30, 2015 December 31, 2014 Amortized cost of available-for-sale securities: Fixed-rate $ 1,000,000 $ 1,350,001 Realized Gains and Losses. The FHLB had no sales of securities out of its available-for-sale portfolio for the nine months ended September 30, 2015 or 2014 . |
Held-to-Maturity Securities
Held-to-Maturity Securities | 9 Months Ended |
Sep. 30, 2015 | |
Held-to-maturity Securities, Unclassified [Abstract] | |
Held to Maturity Securities [Text Block] | Held-to-Maturity Securities Table 5.1 - Held-to-Maturity Securities by Major Security Types (in thousands) September 30, 2015 Amortized Cost (1) Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value Non-mortgage-backed securities: Government-sponsored enterprises (GSE) (2) $ 32,672 $ 8 $ — $ 32,680 Total non-mortgage-backed securities 32,672 8 — 32,680 Mortgage-backed securities: Other U.S. obligation single-family mortgage-backed securities (3) 4,044,562 19,025 (3,148 ) 4,060,439 GSE single-family mortgage-backed securities (4) 11,009,991 174,461 (57,775 ) 11,126,677 Total mortgage-backed securities 15,054,553 193,486 (60,923 ) 15,187,116 Total $ 15,087,225 $ 193,494 $ (60,923 ) $ 15,219,796 December 31, 2014 Amortized Cost (1) Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value Non-mortgage-backed securities: GSE (2) $ 26,099 $ — $ — $ 26,099 Total non-mortgage-backed securities 26,099 — — 26,099 Mortgage-backed securities: Other U.S. obligation single-family mortgage-backed securities (3) 2,038,960 10,021 (1,017 ) 2,047,964 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 (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 5.2 - Net Purchased Premiums (Discounts) Included in the Amortized Cost of Mortgage-backed Securities Classified as Held-to-Maturity (in thousands) September 30, 2015 December 31, 2014 Premiums $ 76,952 $ 24,473 Discounts (43,166 ) (51,357 ) Net purchased premiums (discounts) $ 33,786 $ (26,884 ) Table 5.3 summarizes the held-to-maturity securities with unrealized losses, which are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. Table 5.3 - Held-to-Maturity Securities in a Continuous Unrealized Loss Position (in thousands) September 30, 2015 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 mortgage-backed securities (1) $ 1,287,611 $ (3,148 ) $ — $ — $ 1,287,611 $ (3,148 ) GSE single-family mortgage-backed securities (2) 2,158,826 (20,012 ) 2,173,093 (37,763 ) 4,331,919 (57,775 ) Total $ 3,446,437 $ (23,160 ) $ 2,173,093 $ (37,763 ) $ 5,619,530 $ (60,923 ) 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 mortgage-backed securities (1) $ — $ — $ 197,625 $ (1,017 ) $ 197,625 $ (1,017 ) 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 ) (1) Consists of Ginnie Mae mortgage-backed securities. (2) Consists of mortgage-backed securities issued and effectively guaranteed by Freddie Mac and/or Fannie Mae, which have the support of the U.S. government, although they are not obligations of the U.S. government. Table 5.4 - Held-to-Maturity Securities by Contractual Maturity (in thousands) September 30, 2015 December 31, 2014 Year of Maturity Amortized Cost (1) Fair Value Amortized Cost (1) Fair Value Non-mortgage-backed securities: Due in 1 year or less $ 32,672 $ 32,680 $ 26,099 $ 26,099 Due after 1 year through 5 years — — — — Due after 5 years through 10 years — — — — Due after 10 years — — — — Total non-mortgage-backed securities 32,672 32,680 26,099 26,099 Mortgage-backed securities (2) 15,054,553 15,187,116 14,686,172 14,768,227 Total $ 15,087,225 $ 15,219,796 $ 14,712,271 $ 14,794,326 (1) Carrying value equals amortized cost. (2) Mortgage-backed securities are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. Table 5.5 - Interest Rate Payment Terms of Held-to-Maturity Securities (in thousands) September 30, 2015 December 31, 2014 Amortized cost of non-mortgage-backed securities: Fixed-rate $ 32,672 $ 26,099 Total amortized cost of non-mortgage-backed securities 32,672 26,099 Amortized cost of mortgage-backed securities: Fixed-rate 12,821,910 12,091,591 Variable-rate 2,232,643 2,594,581 Total amortized cost of mortgage-backed securities 15,054,553 14,686,172 Total $ 15,087,225 $ 14,712,271 Realized Gains and Losses. From time to time the FHLB may sell securities out of its held-to-maturity portfolio. These securities, generally, have less than 15 percent of the acquired principal outstanding at the time of the sale. These sales are considered maturities for the purposes of security classification. For the nine months ended September 30, 2015 and 2014 , the FHLB did not sell any held-to-maturity securities. |
Other-Than-Temporary Impairment
Other-Than-Temporary Impairment Analysis | 9 Months Ended |
Sep. 30, 2015 | |
Other than Temporary Impairment Losses, Investments [Abstract] | |
Other than Temporary Impairment Analysis [Text Block] | Other-Than-Temporary Impairment Analysis The FHLB evaluates any of 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 FHLB has determined that the strength of the issuers' guarantees through direct obligations or support from the U.S. government is sufficient to protect the FHLB from losses based on current expectations. As a result, the FHLB determined that, as of September 30, 2015 , 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 FHLB does not intend to sell the investments, and it is not more likely than not that the FHLB will be required to sell the investments before recovery of their amortized cost bases. As a result, the FHLB did not consider any of these investments to be other-than-temporarily impaired at September 30, 2015 . The FHLB did not consider any of its investments to be other-than-temporarily impaired at December 31, 2014 . |
Advances
Advances | 9 Months Ended |
Sep. 30, 2015 | |
Advances [Abstract] | |
Advances [Text Block] | Advances The FHLB offers a wide range of fixed- and variable-rate Advance products with different maturities, interest rates, payment characteristics and optionality. The following table presents Advance redemptions by contractual maturity, including index-amortizing Advances, which are presented according to their predetermined amortization schedules. Table 7.1 - Advance Redemption Terms (dollars in thousands) September 30, 2015 December 31, 2014 Redemption Term Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Due in 1 year or less $ 26,158,998 0.36 % $ 14,139,630 0.40 % Due after 1 year through 2 years 15,086,020 0.79 14,810,847 0.54 Due after 2 years through 3 years 15,549,138 0.66 12,829,760 0.69 Due after 3 years through 4 years 10,506,240 0.65 14,222,722 0.60 Due after 4 years through 5 years 6,462,680 0.75 10,724,619 0.54 Thereafter 3,440,450 1.66 3,570,929 1.51 Total par value 77,203,526 0.63 70,298,507 0.60 Commitment fees (673 ) (699 ) Discount on AHP Advances (10,043 ) (12,110 ) Premiums 2,824 3,058 Discounts (9,132 ) (12,572 ) Hedging adjustments 133,607 129,390 Fair value option valuation adjustments and accrued interest 214 42 Total $ 77,320,323 $ 70,405,616 The FHLB 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 FHLB that makes the FHLB financially indifferent to the prepayment of the Advance. At September 30, 2015 and December 31, 2014 , the FHLB had callable Advances (in thousands) of $16,059,645 and $15,098,357 . Table 7.2 - Advances by Year of Contractual Maturity or Next Call Date for Callable Advances (in thousands) Year of Contractual Maturity or Next Call Date September 30, 2015 December 31, 2014 Due in 1 year or less $ 34,804,247 $ 23,003,946 Due after 1 year through 2 years 10,479,325 12,159,384 Due after 2 years through 3 years 15,034,193 9,659,975 Due after 3 years through 4 years 9,557,844 12,295,893 Due after 4 years through 5 years 5,748,467 9,970,280 Thereafter 1,579,450 3,209,029 Total par value $ 77,203,526 $ 70,298,507 The FHLB also offers putable Advances. With a putable Advance, the FHLB effectively purchases put options from the member that allows the FHLB to terminate the Advance at predetermined dates. The FHLB normally would exercise its put option when interest rates increase relative to contractual rates. At September 30, 2015 and December 31, 2014 , the FHLB had putable Advances, excluding those where the related put options have expired, totaling (in thousands) $1,556,900 and $1,617,400 . Table 7.3 - Advances by Year of Contractual Maturity or Next Put/Convert Date for Putable/Convertible Advances (in thousands) Year of Contractual Maturity or Next Put/Convert Date September 30, 2015 December 31, 2014 Due in 1 year or less $ 27,686,898 $ 15,753,030 Due after 1 year through 2 years 14,392,620 14,663,847 Due after 2 years through 3 years 14,994,138 12,115,860 Due after 3 years through 4 years 10,396,740 13,649,722 Due after 4 years through 5 years 6,462,680 10,715,119 Thereafter 3,270,450 3,400,929 Total par value $ 77,203,526 $ 70,298,507 Table 7.4 - Advances by Interest Rate Payment Terms (in thousands) September 30, 2015 December 31, 2014 Total fixed-rate (1) $ 27,325,281 $ 17,945,050 Total variable-rate (1) 49,878,245 52,353,457 Total par value $ 77,203,526 $ 70,298,507 (1) Payment terms based on current interest rate terms, which reflect any option exercises or rate conversions that have occurred subsequent to the related Advance issuance. Table 7.5 - Borrowers Holding Five Percent or more of Total Advances, Including Any Known Affiliates that are Members of the FHLB (dollars in millions) September 30, 2015 December 31, 2014 Principal % of Total Principal % of Total JPMorgan Chase Bank, N.A. $ 37,300 48 % JPMorgan Chase Bank, N.A. $ 41,300 59 % U.S. Bank, N.A. 9,253 12 U.S. Bank, N.A. 8,338 12 Total $ 46,553 60 % Total $ 49,638 71 % |
Mortgage Loans Held for Portfol
Mortgage Loans Held for Portfolio | 9 Months Ended |
Sep. 30, 2015 | |
Mortgage Loans on Real Estate [Abstract] | |
Mortgage Loans Held for Portfolio [Text Block] | Mortgage Loans Held for Portfolio Table 8.1 - Mortgage Loans Held for Portfolio (in thousands) September 30, 2015 December 31, 2014 Unpaid principal balance: Fixed rate medium-term single-family mortgage loans (1) $ 1,505,964 $ 1,393,525 Fixed rate long-term single-family mortgage loans 6,283,218 5,402,479 Total unpaid principal balance 7,789,182 6,796,004 Premiums 206,921 179,540 Discounts (2,131 ) (2,460 ) Hedging basis adjustments (2) 20,490 16,518 Total mortgage loans held for portfolio $ 8,014,462 $ 6,989,602 (1) Medium-term is defined as a term of 15 years or less. (2) Represents the unamortized balance of the mortgage purchase commitments' market values at the time of settlement. The market value of the commitment is included in the basis of the mortgage loan and amortized accordingly. Table 8.2 - Mortgage Loans Held for Portfolio by Collateral/Guarantee Type (in thousands) September 30, 2015 December 31, 2014 Unpaid principal balance: Conventional mortgage loans $ 7,285,491 $ 6,203,318 Federal Housing Administration (FHA) mortgage loans 503,691 592,686 Total unpaid principal balance $ 7,789,182 $ 6,796,004 For information related to the FHLB's credit risk on mortgage loans and allowance for credit losses, see Note 9 . Table 8.3 - Members, Including Any Known Affiliates that are Members of the FHLB, and Former Members Selling Five Percent or more of Total Unpaid Principal (dollars in millions) September 30, 2015 December 31, 2014 Principal % of Total Principal % of Total Union Savings Bank $ 2,264 29 % Union Savings Bank $ 1,593 23 % PNC Bank, N.A. (1) 894 11 PNC Bank, N.A. (1) 1,074 16 Guardian Savings Bank FSB 648 8 Guardian Savings Bank FSB 406 6 (1) Former member. |
Allowance for Credit Losses
Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2015 | |
Allowance for Credit Losses [Abstract] | |
Allowance for Credit Losses [Text Block] | Allowance for Credit Losses The FHLB has established an allowance methodology for each of the FHLB'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 FHLB 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 collateral and lending policies to limit risk of loss while balancing borrowers' needs for a reliable source of funding. In addition, the FHLB lends to eligible borrowers in accordance with federal statutes, including the Federal Home Loan Bank Act of 1932 (FHLBank Act) and Finance Agency regulations, which require the FHLB 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 FHLB 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, agriculture loans and community development loans. The FHLB'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 FHLB can also require additional or substitute collateral to protect its security interest. Management of the FHLB believes that these policies effectively manage the FHLB's credit risk from credit products. Members experiencing financial difficulties are subject to FHLB-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 FHLB or its agent, and/or may be required to provide details on these loans to facilitate an estimate of their fair value. The FHLB perfects its security interest in all pledged collateral. The FHLBank Act affords any security interest granted to the FHLB 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 FHLB considers the payment status, collateralization levels, and borrower's financial condition to be indicators of credit quality for its credit products. At September 30, 2015 and December 31, 2014 , the FHLB had rights to collateral on a member-by-member basis with an estimated value in excess of its outstanding extensions of credit. The FHLB evaluates and makes changes to its collateral guidelines, as necessary, based on current market conditions. At September 30, 2015 and December 31, 2014 , the FHLB 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 FHLB during the nine months ended September 30, 2015 or 2014 . The FHLB 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 and the repayment history on credit products, the FHLB did not record any credit losses on credit products as of September 30, 2015 or December 31, 2014 . Accordingly, the FHLB did not record any allowance for credit losses on Advances. At September 30, 2015 and December 31, 2014 , the FHLB did not record any liability to reflect an allowance for credit losses for off-balance sheet credit exposures. See Note 19 for additional information on the FHLB's off-balance sheet credit exposure. Mortgage Loans Held for Portfolio - FHA The FHLB invests in fixed-rate mortgage loans secured by one-to-four family residential properties insured by the FHA. The FHLB expects to recover any losses from such loans 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 FHLB 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 FHLB 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 FHLB determines the allowance for conventional loans through analyses that include consideration of various data observations such as past performance, current performance, loan portfolio characteristics, collateral-related characteristics, industry data, and prevailing economic conditions. The measurement of the allowance for 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 FHLB's best estimate of probable incurred losses at the reporting date. The FHLB performs the credit risk analysis of all conventional mortgage loans 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 FHLB over a one-year period. Migration analysis is a methodology for determining, through the FHLB's experience over a historical period, the rate of default on loans. The FHLB applies migration analysis to loans based on payment status categories such as current, 30, 60, and 90 days past due. The FHLB 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 FHLB 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. The FHLB removes specifically identified loans evaluated for impairment from the collectively evaluated mortgage loan population. Qualitative Factors. The FHLB also assesses other qualitative factors in its estimation of loan losses for the collectively evaluated population. This amount represents a subjective management judgment, based on facts and circumstances that exist as of the reporting date, that is intended to cover other incurred losses that may not otherwise be captured in the methodology described above. Rollforward of Allowance for Credit Losses on Mortgage Loans. The following tables present a rollforward of the allowance for credit losses on conventional mortgage loans as well as the recorded investment in mortgage loans by impairment methodology. The recorded investment in a loan is the unpaid principal balance of the loan adjusted for accrued interest, unamortized premiums or discounts, hedging basis adjustments and direct write-downs. The recorded investment is not net of any allowance. Table 9.1 - Rollforward of Allowance for Credit Losses on Conventional Mortgage Loans (in thousands) Three Months Ended September 30, 2015 2014 Balance, beginning of period $ 1,701 $ 5,441 Net recoveries (charge offs) (1) 14 (414 ) Reversal for credit losses — — Balance, end of period $ 1,715 $ 5,027 Nine Months Ended September 30, 2015 2014 Balance, beginning of period $ 4,919 $ 7,233 Net charge offs (1) (3,204 ) (1,306 ) Reversal for credit losses — (900 ) Balance, end of period $ 1,715 $ 5,027 (1) On January 1, 2015, the FHLB adopted the charge off provisions of the Finance Agency's Advisory Bulletin 2012-02, which require the FHLB to charge off the estimated loss portion of loans 180 days or more past due and certain loans in which the borrower has filed for bankruptcy. Table 9.2 - Allowance for Credit Losses and Recorded Investment on Conventional Mortgage Loans by Impairment Methodology (in thousands) September 30, 2015 December 31, 2014 Allowance for credit losses, end of period: Collectively evaluated for impairment $ 1,713 $ 4,766 Individually evaluated for impairment 2 153 Total $ 1,715 $ 4,919 Recorded investment, end of period: Collectively evaluated for impairment $ 7,518,868 $ 6,402,994 Individually evaluated for impairment 9,718 8,639 Total recorded investment $ 7,528,586 $ 6,411,633 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 FHLB 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 FHLB 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 FHLB as a portion of the purchase proceeds to cover expected losses. The LRA is recorded in other liabilities in the Statements of Condition. Excess funds over required balances are distributed to the member in accordance with a step-down schedule that is established upon execution of a Master Commitment Contract, subject to performance of the related loan pool. The LRA established for a pool of loans is limited to only covering losses of that specific pool of loans. Table 9.3 - Changes in the LRA (in thousands) Nine Months Ended September 30, 2015 LRA at beginning of year $ 129,213 Additions 29,723 Claims (1,323 ) Scheduled distributions (1,487 ) LRA at end of period $ 156,126 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 FHLB's key credit quality indicators for mortgage loans. Table 9.4 - Recorded Investment in Delinquent Mortgage Loans (dollars in thousands) September 30, 2015 Conventional MPP Loans FHA Loans Total Past due 30-59 days delinquent $ 43,183 $ 33,621 $ 76,804 Past due 60-89 days delinquent 8,090 8,421 16,511 Past due 90 days or more delinquent 32,016 17,001 49,017 Total past due 83,289 59,043 142,332 Total current mortgage loans 7,445,297 453,710 7,899,007 Total mortgage loans $ 7,528,586 $ 512,753 $ 8,041,339 Other delinquency statistics: In process of foreclosure, included above (1) $ 24,130 $ 7,784 $ 31,914 Serious delinquency rate (2) 0.44 % 3.38 % 0.62 % Past due 90 days or more still accruing interest (3) $ 25,986 $ 17,001 $ 42,987 Loans on non-accrual status, included above $ 7,096 $ — $ 7,096 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 (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 FHLB did not have any real estate owned at September 30, 2015 or December 31, 2014 . Individually Evaluated Impaired Loans. Table 9.5 presents the recorded investment, unpaid principal balance, and related allowance associated with loans individually evaluated for investment. Table 9.5 - Individually Evaluated Impaired Loan Statistics by Product Class Level (in thousands) September 30, 2015 December 31, 2014 Conventional MPP loans Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance $ 9,626 $ 9,432 $ — $ 5,297 $ 5,165 $ — With an allowance 92 89 2 3,342 3,293 153 Total $ 9,718 $ 9,521 $ 2 $ 8,639 $ 8,458 $ 153 Table 9.6 - Average Recorded Investment of Individually Evaluated Impaired Loans and Related Interest Income Recognized (in thousands) Three Months Ended September 30, 2015 2014 Individually impaired loans Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Conventional MPP Loans $ 9,445 $ 123 $ 8,575 $ 111 Nine Months Ended September 30, 2015 2014 Individually impaired loans Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Conventional MPP Loans $ 8,758 $ 342 $ 8,096 $ 315 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 FHLB'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. 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 as of the reporting date. The FHLB's recorded investment in modified loans considered troubled debt restructurings was (in thousands) $9,718 and $8,639 at September 30, 2015 and December 31, 2014 , respectively. The amount of troubled debt restructurings is not considered material to the FHLB's financial condition, results of operations, or cash flows. |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities [Text Block] | Derivatives and Hedging Activities Nature of Business Activity The FHLB is exposed to interest rate risk primarily from the effect of interest rate changes on its interest-earning assets and on the interest-bearing liabilities that finance these assets. The goal of the FHLB'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 FHLB 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 FHLB monitors the risk to its interest income, net interest margin and average maturity of interest-earning assets and interest-bearing liabilities. The FHLB 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 (uncleared derivatives) or cleared through a Futures Commission Merchant (i.e., clearing agent) with a Derivative Clearing Organization (cleared derivatives). Once a derivative transaction has been accepted for clearing by a Derivative Clearing Organization (Clearinghouse), the derivative transaction is novated and the executing counterparty is replaced with the Clearinghouse. The FHLB is not a derivative dealer and does not trade derivatives for short-term profit. Consistent with Finance Agency regulations, the FHLB enters into derivatives to manage the interest rate risk exposures inherent in otherwise unhedged assets and funding positions, to achieve the FHLB'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 FHLB's financial management strategy. However, Finance Agency regulations and the FHLB'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 FHLB 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 FHLB 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 FHLB in its derivatives is LIBOR. Application of Interest Rate Swaps The FHLB may use derivatives as fair value hedges of associated financial instruments. However, because the FHLB uses interest rate swaps when they are considered to be the most cost-effective alternative to achieve the FHLB's financial and risk management objectives, it may enter into interest rate swaps that do not necessarily qualify for hedge accounting (economic hedges). The FHLB 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 FHLB 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 FHLB 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 FHLB currently uses regression analyses to assess the effectiveness of its hedges. The types of assets and liabilities currently hedged with derivatives are: ▪ Consolidated Obligations; ▪ Advances; and ▪ Firm Commitments. Financial Statement Effect and Additional Financial Information The notional amount of derivatives serves as a factor in determining periodic interest payments or cash flows received and paid. The notional amount reflects the FHLB's involvement in the various classes of financial instruments and represents neither the actual amounts exchanged nor the overall exposure of the FHLB to credit and market risk; the overall risk is much smaller. The risks of derivatives only can be measured meaningfully on a portfolio basis that takes into account the derivatives, the items being hedged and any offsets between the derivatives and the items being hedged. Table 10.1 summarizes the fair value of derivative instruments, including the effect of netting adjustments and cash collateral. For purposes of this disclosure, the derivative values include the fair value of derivatives and the related accrued interest. Table 10.1 - Fair Value of Derivative Instruments (in thousands) September 30, 2015 Notional Amount of Derivatives Derivative Assets Derivative Liabilities Derivatives designated as fair value hedging instruments: Interest rate swaps $ 5,817,628 $ 20,409 $ 140,758 Derivatives not designated as hedging instruments: Interest rate swaps 6,398,000 3,421 5,265 Forward rate agreements 166,000 — 1,137 Mortgage delivery commitments 160,810 1,253 — Total derivatives not designated as hedging instruments 6,724,810 4,674 6,402 Total derivatives before netting and collateral adjustments $ 12,542,438 25,083 147,160 Netting adjustments and cash collateral (1) 284 (105,762 ) Total derivative assets and total derivative liabilities $ 25,367 $ 41,398 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 (1) Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $107,465 and $78,755 at September 30, 2015 and December 31, 2014 . Cash collateral received and related accrued interest was (in thousands) $1,420 and $2,720 at September 30, 2015 and December 31, 2014 . Table 10.2 presents the components of net gains on derivatives and hedging activities as presented in the Statements of Income. Table 10.2 - Net Gains on Derivatives and Hedging Activities (in thousands) Three Months Ended September 30, 2015 2014 Derivatives and hedged items in fair value hedging relationships: Interest rate swaps $ 388 $ 555 Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps 1,603 (335 ) Forward rate agreements (5,411 ) (1,678 ) Net interest settlements 1,296 202 Mortgage delivery commitments 7,516 1,345 Total net gains (losses) related to derivatives not designated as hedging instruments 5,004 (466 ) Net gains on derivatives and hedging activities $ 5,392 $ 89 Nine Months Ended September 30, 2015 2014 Derivatives and hedged items in fair value hedging relationships: Interest rate swaps $ 2,350 $ 1,708 Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps 4,009 673 Forward rate agreements (3,670 ) (7,759 ) Net interest settlements 5,661 132 Mortgage delivery commitments 4,625 7,584 Total net gains related to derivatives not designated as hedging instruments 10,625 630 Net gains on derivatives and hedging activities $ 12,975 $ 2,338 Table 10.3 presents by type of hedged item, the gains (losses) on derivatives and the related hedged items in fair value hedging relationships and the impact of those derivatives on the FHLB's net interest income. Table 10.3 - Effect of Fair Value Hedge-Related Derivative Instruments (in thousands) Three Months Ended September 30, 2015 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 $ (26,128 ) $ 26,327 $ 199 $ (21,719 ) Consolidated Bonds 1,715 (1,526 ) 189 5,291 Total $ (24,413 ) $ 24,801 $ 388 $ (16,428 ) 2014 Hedged Item Type: Advances $ 30,709 $ (29,829 ) $ 880 $ (22,705 ) Consolidated Bonds (5,390 ) 5,065 (325 ) 4,476 Total $ 25,319 $ (24,764 ) $ 555 $ (18,229 ) Nine Months Ended September 30, 2015 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 $ (4,694 ) $ 6,798 $ 2,104 $ (62,980 ) Consolidated Bonds (1,451 ) 1,697 246 14,907 Total $ (6,145 ) $ 8,495 $ 2,350 $ (48,073 ) 2014 Hedged Item Type: Advances $ 61,036 $ (59,401 ) $ 1,635 $ (69,088 ) Consolidated Bonds (12,777 ) 12,850 73 13,957 Total $ 48,259 $ (46,551 ) $ 1,708 $ (55,131 ) (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) $(872) and $(677) of (amortization)/accretion related to fair value hedging activities for the three months ended September 30, 2015 and 2014 and (in thousands) $(2,580) and $(2,564) for the nine months ended September 30, 2015 and 2014 . Offsetting of Derivative Assets and Derivative Liabilities The FHLB presents derivative instruments, related cash collateral, including initial and variation margin, received or pledged, and associated accrued interest, on a net basis by clearing agent and/or by counterparty when it has met the netting requirements. Table 10.4 presents separately the fair value of derivative instruments meeting or not meeting netting requirements, including the related collateral received from or pledged to counterparties. At September 30, 2015 and December 31, 2014 , the FHLB did not receive or pledge any non-cash collateral. Any overcollateralization under an individual clearing agent and/or counterparty level is not included in the determination of the net unsecured amount. Table 10.4 - Offsetting of Derivative Assets and Derivative Liabilities (in thousands) September 30, 2015 December 31, 2014 Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Derivative instruments meeting netting requirements: Gross recognized amount: Uncleared derivatives $ 13,948 $ 114,705 $ 19,585 $ 141,352 Cleared derivatives 9,882 31,318 1,141 3,357 Total gross recognized amount 23,830 146,023 20,726 144,709 Gross amounts of netting adjustments and cash collateral: Uncleared derivatives (13,948 ) (74,444 ) (19,544 ) (82,510 ) Cleared derivatives 14,232 (31,318 ) 9,712 (3,357 ) Total gross amounts of netting adjustments and cash collateral 284 (105,762 ) (9,832 ) (85,867 ) Net amounts after netting adjustments and cash collateral: Uncleared derivatives — 40,261 41 58,842 Cleared derivatives 24,114 — 10,853 — Total net amounts after netting adjustments and cash collateral 24,114 40,261 10,894 58,842 Derivative instruments not meeting netting requirements (1) : Uncleared derivatives 1,253 1,137 3,805 4,925 Total derivative instruments not meeting netting requirements (1) 1,253 1,137 3,805 4,925 Total derivative assets and total derivative liabilities: Uncleared derivatives 1,253 41,398 3,846 63,767 Cleared derivatives 24,114 — 10,853 — Total derivative assets and total derivative liabilities $ 25,367 $ 41,398 $ 14,699 $ 63,767 (1) Represents mortgage delivery commitments and forward rate agreements that are not subject to an enforceable netting agreement. Credit Risk on Derivatives The FHLB 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 uncleared 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 FHLB requires collateral agreements with collateral delivery thresholds on the majority of its uncleared derivatives. For cleared derivatives, the Clearinghouse is the FHLB's counterparty. The Clearinghouse notifies the clearing agent of the required initial and variation margin and the clearing agent in turn notifies the FHLB. The requirement that the FHLB post initial and variation margin through the clearing agent, to the Clearinghouse, exposes the FHLB 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 for changes in the value of cleared derivatives is posted daily through a clearing agent. The FHLB 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 FHLB's clearing agent, or both. Based on this analysis, the FHLB presents a net derivative receivable or payable for all of its transactions through a particular clearing agent with a particular Clearinghouse. Certain of the FHLB's uncleared interest rate swap contracts contain provisions that require the FHLB to post additional collateral with its counterparties if there is deterioration in the FHLB's credit ratings. The aggregate fair value of all uncleared interest rate swaps with credit-risk-related contingent features that were in a liability position at September 30, 2015 was (in thousands) $100,757 , for which the FHLB had posted collateral with a fair value of (in thousands) $60,496 in the normal course of business. If one of the FHLB's credit ratings had been lowered to the next lower rating that would have triggered additional collateral to be delivered, the FHLB would have been required to deliver up to an additional (in thousands) $12,500 of collateral at fair value to its derivatives counterparties at September 30, 2015 . 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 September 30, 2015 , the FHLB was not required to post additional initial margin by its clearing agents based on credit considerations. |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2015 | |
Deposits [Abstract] | |
Deposit [Text Block] | Deposits Table 11.1- Deposits (in thousands) September 30, 2015 December 31, 2014 Interest bearing: Demand and overnight $ 652,122 $ 624,446 Term 95,900 99,600 Other 7,302 5,592 Total interest bearing 755,324 729,638 Non-interest bearing: Other 327 298 Total non-interest bearing 327 298 Total deposits $ 755,651 $ 729,936 The average interest rates paid on interest bearing deposits were 0.04 percent in the three- and nine-month periods ended September 30, 2015 and 0.03 percent in the three- and nine-month periods ended September 30, 2014 . |
Consolidated Obligations
Consolidated Obligations | 9 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
Consolidated Obligations [Text Block] | Consolidated Obligations Table 12.1 - Consolidated Discount Notes Outstanding (dollars in thousands) Book Value Par Value Weighted Average Interest Rate (1) September 30, 2015 $ 60,086,261 $ 60,100,397 0.15 % December 31, 2014 $ 41,232,127 $ 41,238,122 0.09 % (1) Represents an implied rate without consideration of concessions. Table 12.2 - Consolidated Bonds Outstanding by Contractual Maturity (dollars in thousands) September 30, 2015 December 31, 2014 Year of Contractual Maturity Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Due in 1 year or less $ 16,668,000 0.55 % $ 32,477,000 0.24 % Due after 1 year through 2 years 6,121,750 1.17 6,918,000 1.19 Due after 2 years through 3 years 5,629,000 1.62 4,594,000 1.56 Due after 3 years through 4 years 3,716,000 1.84 4,245,000 1.79 Due after 4 years through 5 years 3,513,000 2.07 2,647,000 2.08 Thereafter 8,406,000 2.80 8,217,000 2.79 Index amortizing notes 1,008 5.25 25,297 5.07 Total par value 44,054,758 1.43 59,123,297 1.00 Premiums 97,754 103,477 Discounts (26,167 ) (25,161 ) Hedging adjustments 13,607 15,304 Fair value option valuation adjustment and accrued interest 2,546 (360 ) Total $ 44,142,498 $ 59,216,557 Table 12.3 - Consolidated Bonds Outstanding by Call Features (in thousands) September 30, 2015 December 31, 2014 Par value of Consolidated Bonds: Non-callable $ 36,398,758 $ 49,976,297 Callable 7,656,000 9,147,000 Total par value $ 44,054,758 $ 59,123,297 Table 12.4 - Consolidated Bonds Outstanding by Contractual Maturity or Next Call Date (in thousands) Year of Contractual Maturity or Next Call Date September 30, 2015 December 31, 2014 Due in 1 year or less $ 23,642,000 $ 40,774,000 Due after 1 year through 2 years 5,791,750 5,413,000 Due after 2 years through 3 years 3,799,000 3,317,000 Due after 3 years through 4 years 3,010,000 2,685,000 Due after 4 years through 5 years 2,753,000 1,992,000 Thereafter 5,058,000 4,917,000 Index amortizing notes 1,008 25,297 Total par value $ 44,054,758 $ 59,123,297 Table 12.5 - Consolidated Bonds by Interest-rate Payment Type (in thousands) September 30, 2015 December 31, 2014 Par value of Consolidated Bonds: Fixed-rate $ 35,454,758 $ 31,363,297 Variable-rate 8,465,000 27,610,000 Step-up 135,000 150,000 Total par value $ 44,054,758 $ 59,123,297 Concessions on Consolidated Obligations. Unamortized concessions included in other assets were (in thousands) $13,466 and $14,184 at September 30, 2015 and December 31, 2014 . The amortization of these concessions is included in Consolidated Obligation interest expense and totaled (in thousands) $3,921 and $1,752 during the three months ended September 30, 2015 and 2014 , respectively, and (in thousands) $8,110 and $5,556 during the nine months ended September 30, 2015 and 2014 , respectively. |
Affordable Housing Program (AHP
Affordable Housing Program (AHP) | 9 Months Ended |
Sep. 30, 2015 | |
Affordable Housing Program (AHP) [Abstract] | |
Affordable Housing Program (AHP) [Text Block] | Affordable Housing Program (AHP) Table 13.1 - Analysis of AHP Liability (in thousands) Balance at December 31, 2014 $ 98,103 Assessments (current year additions) 20,866 Subsidy uses, net (14,837 ) Balance at September 30, 2015 $ 104,132 |
Capital
Capital | 9 Months Ended |
Sep. 30, 2015 | |
Capital [Abstract] | |
Capital [Text Block] | Capital Table 14.1 - Capital Requirements (dollars in thousands) September 30, 2015 December 31, 2014 Minimum Requirement Actual Minimum Requirement Actual Risk-based capital $ 531,867 $ 5,200,942 $ 481,835 $ 5,018,567 Capital-to-assets ratio (regulatory) 4.00 % 4.70 % 4.00 % 4.71 % Regulatory capital $ 4,426,069 $ 5,200,942 $ 4,265,617 $ 5,018,567 Leverage capital-to-assets ratio (regulatory) 5.00 % 7.05 % 5.00 % 7.06 % Leverage capital $ 5,532,586 $ 7,801,413 $ 5,332,021 $ 7,527,851 Restricted Retained Earnings. At September 30, 2015 and December 31, 2014 the FHLB had (in thousands) $196,869 and $ 159,694 in restricted retained earnings. These restricted retained earnings are not available to pay dividends but are available to absorb unexpected losses, if any, that the FHLB may experience. Table 14.2 - Mandatorily Redeemable Capital Stock Roll Forward (in thousands) Balance, December 31, 2014 $ 62,963 Capital stock subject to mandatory redemption reclassified from equity 23,531 Redemption (or other reduction) of mandatorily redeemable capital stock (27,406 ) Balance, September 30, 2015 $ 59,088 Table 14.3 - Mandatorily Redeemable Capital Stock by Contractual Year of Redemption (in thousands) Contractual Year of Redemption September 30, 2015 December 31, 2014 Year 1 $ — $ 130 Year 2 — — Year 3 45 — Year 4 2,265 55 Year 5 3,101 2,278 Past contractual redemption date due to remaining activity (1) 53,677 60,500 Total $ 59,088 $ 62,963 (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 Comprehensive
Accumulated Other Comprehensive (Loss) Income | 9 Months Ended |
Sep. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive (Loss) Income [Text Block] | Accumulated Other Comprehensive (Loss) Income The following tables summarize the changes in accumulated other comprehensive (loss) income for the three and nine months ended September 30, 2015 and 2014 . Table 15.1 - Accumulated Other Comprehensive (Loss) Income (in thousands) Net unrealized (losses) gains on available-for-sale securities Pension and postretirement benefits Total accumulated other comprehensive (loss) income BALANCE, JUNE 30, 2014 $ (19 ) $ (8,295 ) $ (8,314 ) Other comprehensive income before reclassification: Net unrealized gains 28 — 28 Reclassifications from other comprehensive income to net income: Amortization - pension and postretirement benefits — 757 757 Net current period other comprehensive income 28 757 785 BALANCE, SEPTEMBER 30, 2014 $ 9 $ (7,538 ) $ (7,529 ) BALANCE, JUNE 30, 2015 $ 13 $ (15,336 ) $ (15,323 ) Other comprehensive income before reclassification: Net unrealized gains 17 — 17 Reclassifications from other comprehensive income to net income: Amortization - pension and postretirement benefits — 726 726 Net current period other comprehensive income 17 726 743 BALANCE, SEPTEMBER 30, 2015 $ 30 $ (14,610 ) $ (14,580 ) Net unrealized (losses) gains on available-for-sale securities Pension and postretirement benefits Total accumulated other comprehensive (loss) income BALANCE, DECEMBER 31, 2013 $ (121 ) $ (8,921 ) $ (9,042 ) Other comprehensive income before reclassification: Net unrealized gains 130 — 130 Reclassifications from other comprehensive income to net income: Amortization - pension and postretirement benefits — 1,383 1,383 Net current period other comprehensive income 130 1,383 1,513 BALANCE, SEPTEMBER 30, 2014 $ 9 $ (7,538 ) $ (7,529 ) BALANCE, DECEMBER 31, 2014 $ (24 ) $ (16,572 ) $ (16,596 ) Other comprehensive income before reclassification: Net unrealized gains 54 — 54 Reclassifications from other comprehensive income to net income: Amortization - pension and postretirement benefits — 1,962 1,962 Net current period other comprehensive income 54 1,962 2,016 BALANCE, SEPTEMBER 30, 2015 $ 30 $ (14,610 ) $ (14,580 ) |
Pension and Postretirement Bene
Pension and Postretirement Benefit Plans | 9 Months Ended |
Sep. 30, 2015 | |
Pension and Postretirement Benefit Plans [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Pension and Postretirement Benefit Plans Qualified Defined Benefit Multi-employer Plan. The FHLB participates in the Pentegra Defined Benefit Plan for Financial Institutions (Pentegra Defined Benefit Plan), a tax-qualified defined benefit pension plan. Under the Pentegra Defined Benefit Plan, contributions made by one participating employer may be used to provide benefits to employees of other participating employers because assets contributed by an employer are not segregated in a separate account or restricted to provide benefits only to employees of that employer. Also, in the event a participating employer is unable to meet its contribution requirements, the required contributions for the other participating employers could increase proportionately. The Pentegra Defined Benefit Plan covers substantially all officers and employees of the FHLB who meet certain eligibility requirements. Contributions to the Pentegra Defined Benefit Plan charged to compensation and benefit expense were $1,500,000 and $1,504,000 in the three months ended September 30, 2015 and 2014 , respectively, and $ 4,478,000 and $ 4,562,000 in the nine months ended September 30, 2015 and 2014 , respectively. Qualified Defined Contribution Plan. The FHLB also participates in the Pentegra Defined Contribution Plan for Financial Institutions, a tax-qualified, defined contribution pension plan. The FHLB 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 FHLB contributed $218,000 and $198,000 in the three months ended September 30, 2015 and 2014 , respectively, and $ 787,000 and $ 755,000 in the nine months ended September 30, 2015 and 2014 , respectively. Nonqualified Supplemental Defined Benefit Retirement Plan . The FHLB 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 FHLB 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 FHLB also sponsors a postretirement benefits plan that includes health care and life insurance benefits for eligible retirees. Future retirees are eligible for the postretirement benefits plan if they were hired prior to August 1, 1990, are age 55 or older, and their age plus years of continuous service at retirement are greater than or equal to 80. Spouses are covered subject to required contributions. There are no funded plan assets that have been designated to provide postretirement benefits. Table 16.1 - Net Periodic Benefit Cost (in thousands) Three Months Ended September 30, Defined Benefit Retirement Plan Postretirement Benefits Plan 2015 2014 2015 2014 Net Periodic Benefit Cost Service cost $ 186 $ 178 $ 19 $ 9 Interest cost 321 380 51 28 Amortization of net loss 710 757 16 — Net periodic benefit cost $ 1,217 $ 1,315 $ 86 $ 37 Nine Months Ended September 30, Defined Benefit Postretirement Benefits Plan 2015 2014 2015 2014 Net Periodic Benefit Cost Service cost $ 501 $ 393 $ 56 $ 25 Interest cost 917 926 152 85 Amortization of net loss 1,912 1,383 50 — Net periodic benefit cost $ 3,330 $ 2,702 $ 258 $ 110 |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Segment Information [Text Block] | Segment Information The FHLB has identified two primary operating segments based on its method of internal reporting: Traditional Member Finance and the MPP. These segments reflect the FHLB'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 FHLB provides services to member stockholders. Table 17.1 - Financial Performance by Operating Segment (in thousands) Three Months Ended September 30, Traditional Member Finance MPP Total 2015 Net interest income after reversal for credit losses $ 63,021 $ 14,001 $ 77,022 Non-interest income 7,268 2,106 9,374 Non-interest expense 16,115 2,705 18,820 Income before assessments 54,174 13,402 67,576 Affordable Housing Program assessments 5,484 1,340 6,824 Net income $ 48,690 $ 12,062 $ 60,752 Average assets $ 96,494,208 $ 7,883,779 $ 104,377,987 Total assets $ 102,611,201 $ 8,040,520 $ 110,651,721 2014 Net interest income after reversal for credit losses $ 57,837 $ 25,286 $ 83,123 Non-interest income (loss) 4,114 (333 ) 3,781 Non-interest expense 14,915 2,503 17,418 Income before assessments 47,036 22,450 69,486 Affordable Housing Program assessments 4,816 2,245 7,061 Net income $ 42,220 $ 20,205 $ 62,425 Average assets $ 92,409,851 $ 6,814,389 $ 99,224,240 Total assets $ 93,037,422 $ 6,929,180 $ 99,966,602 Nine Months Ended September 30, Traditional Member Finance MPP Total 2015 Net interest income after reversal for credit losses $ 185,527 $ 53,713 $ 239,240 Non-interest income 22,083 957 23,040 Non-interest expense 47,828 7,710 55,538 Income before assessments 159,782 46,960 206,742 Affordable Housing Program assessments 16,171 4,695 20,866 Net income $ 143,611 $ 42,265 $ 185,876 Average assets $ 95,206,839 $ 7,507,369 $ 102,714,208 Total assets $ 102,611,201 $ 8,040,520 $ 110,651,721 2014 Net interest income $ 173,902 $ 63,169 $ 237,071 Reversal for credit losses — (900 ) (900 ) Net interest income after reversal for credit losses 173,902 64,069 237,971 Non-interest income (loss) 14,022 (173 ) 13,849 Non-interest expense 44,252 6,927 51,179 Income before assessments 143,672 56,969 200,641 Affordable Housing Program assessments 14,715 5,697 20,412 Net income $ 128,957 $ 51,272 $ 180,229 Average assets $ 94,195,690 $ 6,764,233 $ 100,959,923 Total assets $ 93,037,422 $ 6,929,180 $ 99,966,602 |
Fair Value Disclosures
Fair Value Disclosures | 9 Months Ended |
Sep. 30, 2015 | |
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 FHLB using available market information and the FHLB's best judgment of appropriate valuation methods. The fair values reflect the FHLB's judgment of how a market participant would estimate the fair values. Fair Value Hierarchy . The FHLB 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, and on occasion, certain mortgage loans on a nonrecurring 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 FHLB 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 FHLB did not have any transfers of assets or liabilities recorded at fair value on a recurring basis during the nine months ended September 30, 2015 or 2014 . Table 18.1 presents the carrying value, fair value, and fair value hierarchy of financial assets and liabilities of the FHLB. These values do not represent an estimate of the overall market value of the FHLB as a going concern, which would take into account future business opportunities and the net profitability of assets versus liabilities. Table 18.1 - Fair Value Summary (in thousands) September 30, 2015 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 $ 971,159 $ 971,159 $ 971,159 $ — $ — $ — Interest-bearing deposits 153 153 — 153 — — Securities purchased under agreements to resell 2,724,000 2,724,000 — 2,724,000 — — Federal funds sold 5,390,000 5,390,000 — 5,390,000 — — Trading securities 1,206 1,206 — 1,206 — — Available-for-sale securities 1,000,030 1,000,030 — 1,000,030 — — Held-to-maturity securities 15,087,225 15,219,796 — 15,219,796 — — Advances (2) 77,320,323 77,275,431 — 77,275,431 — — Mortgage loans held for portfolio, net 8,012,747 8,219,117 — 8,187,031 32,086 — Accrued interest receivable 90,158 90,158 — 90,158 — — Derivative assets 25,367 25,367 — 25,083 — 284 Liabilities: Deposits 755,651 755,638 — 755,638 — — Consolidated Obligations: Discount Notes 60,086,261 60,080,868 — 60,080,868 — — Bonds (3) 44,142,498 44,632,920 — 44,632,920 — — Mandatorily redeemable capital stock 59,088 59,088 59,088 — — — Accrued interest payable 126,037 126,037 — 126,037 — — Derivative liabilities 41,398 41,398 — 147,160 — (105,762 ) Other: Commitments to extend credit for Advances — (14 ) — (14 ) — — Standby bond purchase agreements — 756 — 756 — — (1) Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. (2) Includes (in thousands) $15,214 of Advances recorded under the fair value option at September 30, 2015 . (3) Includes (in thousands) $5,757,546 of Consolidated Obligation Bonds recorded under the fair value option at September 30, 2015 . December 31, 2014 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, net 6,984,683 7,219,198 — 7,178,047 41,151 — 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 stock 62,963 62,963 62,963 — — — 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 FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB 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 . Summary of Valuation Methodologies and Primary Inputs . A description of the valuation methodologies and primary inputs is disclosed in Note 19 - Fair Value Disclosures in the FHLB's 2014 Annual Report on Form 10-K. There have been no changes in the valuation methodologies during 2015. Fair Value Measurements . Table 18.2 presents the fair value of financial assets and liabilities that are recorded on a recurring or nonrecurring basis at September 30, 2015 or December 31, 2014 , by level within the fair value hierarchy. The FHLB records nonrecurring fair value adjustments to reflect partial write-downs on certain mortgage loans. The FHLB estimates the fair value of these assets based primarily on property values obtained from a third-party pricing vendor. Table 18.2 - Fair Value Measurements (in thousands) Fair Value Measurements at September 30, 2015 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 $ 1,206 $ — $ 1,206 $ — $ — Available-for-sale securities: Certificates of deposit 1,000,030 — 1,000,030 — — Advances 15,214 — 15,214 — — Derivative assets: Interest rate swaps 24,114 — 23,830 — 284 Mortgage delivery commitments 1,253 — 1,253 — — Total derivative assets 25,367 — 25,083 — 284 Total assets at fair value $ 1,041,817 $ — $ 1,041,533 $ — $ 284 Recurring fair value measurements - Liabilities Consolidated Obligation Bonds $ 5,757,546 $ — $ 5,757,546 $ — $ — Derivative liabilities: Interest rate swaps 40,261 — 146,023 — (105,762 ) Forward rate agreement 1,137 — 1,137 — — Total derivative liabilities 41,398 — 147,160 — (105,762 ) Total liabilities at fair value $ 5,798,944 $ — $ 5,904,706 $ — $ (105,762 ) Nonrecurring fair value measurements - Assets (2) Mortgage loans held for portfolio $ 6,396 $ — $ — $ 6,396 (1) Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. (2) The fair value information presented is as of the date the fair value adjustment was recorded during the nine months ended September 30, 2015 . 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 agreements 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 FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB 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. Any transaction fees or costs are immediately recognized into other non-interest income or other non-interest expense. The FHLB has elected the fair value option for certain Advances and Consolidated Obligation Bonds that either do not qualify for hedge accounting or may be at risk for not meeting hedge effectiveness requirements. These fair value elections were made primarily in an effort to mitigate the potential income statement volatility that can arise from economic hedging relationships in which the carrying value of the hedged item is not adjusted for changes in fair value. Table 18.3 – Fair Value Option - Financial Assets and Liabilities (in thousands) Three Months Ended September 30, 2015 2014 Advances Consolidated Bonds Advances Consolidated Bonds Balance at beginning of period $ 15,129 $ (5,623,179 ) $ — $ (2,780,023 ) New transactions elected for fair value option — (2,045,000 ) 10,000 (2,150,000 ) Maturities and terminations — 1,910,000 — 1,250,000 Net gains (losses) on financial instruments held under fair value option 85 (186 ) (44 ) (115 ) Change in accrued interest — 819 12 (191 ) Balance at end of period $ 15,214 $ (5,757,546 ) $ 9,968 $ (3,680,329 ) Nine Months Ended September 30, 2015 2014 Advances Consolidated Bonds Advances Consolidated Bonds Balance at beginning of period $ 15,042 $ (4,209,640 ) $ — $ (4,018,370 ) New transactions elected for fair value option — (7,807,000 ) 10,000 (4,915,000 ) Maturities and terminations — 6,262,000 — 5,250,000 Net gains (losses) on financial instruments held under fair value option 173 (1,884 ) (44 ) 1,165 Change in accrued interest (1 ) (1,022 ) 12 1,876 Balance at end of period $ 15,214 $ (5,757,546 ) $ 9,968 $ (3,680,329 ) Table 18.4 – Changes in Fair Values for Items Measured at Fair Value Pursuant to the Election of the Fair Value Option (in thousands) Three Months Ended September 30, 2015 2014 Advances Consolidated Bonds Advances Consolidated Bonds Interest income (expense) $ 65 $ (3,256 ) $ 19 $ (1,616 ) Net gains (losses) on changes in fair value under fair value option 85 (186 ) (44 ) (115 ) Total changes in fair value included in current period earnings $ 150 $ (3,442 ) $ (25 ) $ (1,731 ) Nine Months Ended September 30, 2015 2014 Advances Consolidated Bonds Advances Consolidated Bonds Interest income (expense) $ 191 $ (10,977 ) $ 19 $ (4,055 ) Net gains (losses) on changes in fair value under fair value option 173 (1,884 ) (44 ) 1,165 Total changes in fair value included in current period earnings $ 364 $ (12,861 ) $ (25 ) $ (2,890 ) For instruments recorded under the fair value option, the related contractual interest income and contractual interest expense are recorded as part of net interest income on the Statements of Income. The remaining changes in fair value for instruments in which the fair value option has been elected are recorded as “Net (losses) gains on financial instruments held under fair value option” in the Statements of Income. The FHLB 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 September 30, 2015 or December 31, 2014 . 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 18.5 – Aggregate Unpaid Balance and Aggregate Fair Value (in thousands) September 30, 2015 December 31, 2014 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 $ 15,214 $ 214 $ 15,000 $ 15,042 $ 42 Consolidated Bonds 5,755,000 5,757,546 2,546 4,210,000 4,209,640 (360 ) (1) At September 30, 2015 and December 31, 2014 , 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 | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies [Text Block] | Commitments and Contingencies Table 19.1 - Off-Balance Sheet Commitments (in thousands) September 30, 2015 December 31, 2014 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 $ 17,462,812 $ 131,659 $ 17,594,471 $ 17,233,206 $ 546,385 $ 17,779,591 Commitments for standby bond purchases 89,495 39,745 129,240 37,490 149,705 187,195 Commitments to fund additional Advances 3,000 — 3,000 — — — Commitments to purchase mortgage loans 160,810 — 160,810 451,292 — 451,292 Unsettled Consolidated Bonds, at par (1)(2) 270,000 — 270,000 17,000 — 17,000 Unsettled Consolidated Discount Notes, at par (1) — — — 5,000 — 5,000 (1) Expiration is based on settlement period rather than underlying contractual maturity of Consolidated Obligations. (2) Of the total unsettled Consolidated Bonds, $15,000 and $17,000 (in thousands) were hedged with associated interest rate swaps at September 30, 2015 and December 31, 2014 , respectively. Legal Proceedings . From time to time, the FHLB is subject to legal proceedings arising in the normal course of business. In March 2010, the FHLB was advised by representatives of the Lehman Brothers Holdings, Inc. bankruptcy estate that they believed that the FHLB 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 FHLB paid Lehman in connection with the close-out transactions and the market value payment the FHLB received when replacing the swaps with other counterparties. In May 2010, the FHLB 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 FHLB participated in a non-binding mediation in New York in August 2010, and counsel for the FHLB 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 FHLB 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 FHLB believes that it correctly calculated, and fully satisfied its obligation to Lehman in September 2008, and the FHLB intends to vigorously defend itself. The FHLB also is subject to other legal proceedings arising in the normal course of business. The FHLB 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 FHLB's financial condition or results of operations. |
Transactions with Other FHLBank
Transactions with Other FHLBanks | 9 Months Ended |
Sep. 30, 2015 | |
Transactions with Other FHLBanks [Abstract] | |
Transactions with Other FHLBanks [Text Block] | Transactions with Other FHLBanks The FHLB notes all transactions with other FHLBanks on the face of its financial statements. Occasionally, the FHLB 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 September 30, 2015 or December 31, 2014 . The following table details the average daily balance of lending and borrowing between the FHLB and other FHLBanks for the nine months ended September 30, 2015 and 2014 . Table 20.1 - Lending and Borrowing Between the FHLB and Other FHLBanks (in thousands) Average Daily Balances for the Nine Months Ended September 30, 2015 2014 Loans to other FHLBanks $ — $ 586 Borrowings from other FHLBanks — — In addition, the FHLB 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 FHLB is the primary obligor. The FHLB then becomes the primary obligor on the transferred debt. There were no Consolidated Obligations transferred to the FHLB during the nine months ended September 30, 2015 or 2014 . The FHLB had no Consolidated Obligations transferred to other FHLBanks during these periods. |
Transactions with Stockholders
Transactions with Stockholders | 9 Months Ended |
Sep. 30, 2015 | |
Transactions with Stockholders [Abstract] | |
Transactions with Stockholders [Text Block] | Transactions with Stockholders Transactions with Directors' Financial Institutions. In the ordinary course of its business, the FHLB may provide products and services to members whose officers or directors serve as directors of the FHLB (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 FHLB had no mortgage-backed securities or derivatives transactions with Directors' Financial Institutions at September 30, 2015 or December 31, 2014 . Table 21.1 - Transactions with Directors' Financial Institutions (dollars in millions) September 30, 2015 December 31, 2014 Balance % of Total (1) Balance % of Total (1) Advances $ 3,358 4.3 % $ 2,929 4.2 % MPP 180 2.3 154 2.3 Regulatory capital stock 232 5.2 225 5.2 (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 FHLB. Table 21.2 - Stockholders Holding Five Percent or more of Regulatory Capital Stock (dollars in millions) Regulatory Capital Stock Advance MPP Unpaid September 30, 2015 Balance % of Total Principal Principal Balance JPMorgan Chase Bank, N.A. $ 1,533 34 % $ 37,300 $ — U.S. Bank, N.A. 475 11 9,253 34 Fifth Third Bank 248 6 3,470 3 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 Nonmember Affiliates. The FHLB has relationships with three nonmember affiliates, the Kentucky Housing Corporation, the Ohio Housing Finance Agency and the Tennessee Housing Development Agency. The FHLB had no investments in or borrowings to any of these nonmember affiliates at September 30, 2015 or December 31, 2014 . The FHLB has executed standby bond purchase agreements with one state housing authority whereby the FHLB, for a fee, agrees as a liquidity provider if required, to purchase and hold the authority's bonds until the designated marketing agent can find a suitable investor or the housing authority repurchases the bond according to a schedule established by the standby agreement. During the first nine months of 2015 and 2014 , the FHLB was not required to purchase any bonds under these agreements. |
Recently Issued Accounting St30
Recently Issued Accounting Standards and Interpretations Recently Issued Accounting Standards and Interpretations (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Finance, Loan and Lease Receivables, Held-for-investment, Allowance and Nonperforming Loans, Nonperforming Loans Policy [Policy Text Block] | Mortgage Loans Held for Portfolio - FHA The FHLB invests in fixed-rate mortgage loans secured by one-to-four family residential properties insured by the FHA. The FHLB expects to recover any losses from such loans 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 FHLB 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 FHLB 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 FHLB determines the allowance for conventional loans through analyses that include consideration of various data observations such as past performance, current performance, loan portfolio characteristics, collateral-related characteristics, industry data, and prevailing economic conditions. The measurement of the allowance for 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 FHLB's best estimate of probable incurred losses at the reporting date. The FHLB performs the credit risk analysis of all conventional mortgage loans 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 FHLB over a one-year period. Migration analysis is a methodology for determining, through the FHLB's experience over a historical period, the rate of default on loans. The FHLB applies migration analysis to loans based on payment status categories such as current, 30, 60, and 90 days past due. The FHLB 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 FHLB 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. The FHLB removes specifically identified loans evaluated for impairment from the collectively evaluated mortgage loan population. Qualitative Factors. The FHLB 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 as of the reporting date. |
Derivatives, Policy [Policy Text Block] | Types of Derivatives The FHLB 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 FHLB in its derivatives is LIBOR. Application of Interest Rate Swaps The FHLB may use derivatives as fair value hedges of associated financial instruments. However, because the FHLB uses interest rate swaps when they are considered to be the most cost-effective alternative to achieve the FHLB's financial and risk management objectives, it may enter into interest rate swaps that do not necessarily qualify for hedge accounting (economic hedges). The FHLB 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 FHLB 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 FHLB 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 FHLB currently uses regression analyses to assess the effectiveness of its hedges. |
Segment Reporting, Policy [Policy Text Block] | The FHLB has identified two primary operating segments based on its method of internal reporting: Traditional Member Finance and the MPP. These segments reflect the FHLB'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 FHLB provides services to member stockholders. |
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 FHLB using available market information and the FHLB's best judgment of appropriate valuation methods. The fair values reflect the FHLB's judgment of how a market participant would estimate the fair values. |
Fair Value Transfer, Policy [Policy Text Block] | The FHLB 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) | 9 Months Ended |
Sep. 30, 2015 | |
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 September 30, 2015 December 31, 2014 Mortgage-backed securities: Other U.S. obligation single-family mortgage-backed securities (1) $ 1,206 $ 1,341 Total $ 1,206 $ 1,341 (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) Nine Months Ended September 30, 2015 2014 Net losses on trading securities held at period end $ (9 ) $ (6 ) Net losses on trading securities $ (9 ) $ (6 ) |
Available-for-Sale Securities (
Available-for-Sale Securities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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) September 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 1,000,000 $ 30 $ — $ 1,000,030 Total $ 1,000,000 $ 30 $ — $ 1,000,030 December 31, 2014 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 1,350,001 $ 3 $ (27 ) $ 1,349,977 Total $ 1,350,001 $ 3 $ (27 ) $ 1,349,977 |
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) September 30, 2015 December 31, 2014 Year of Maturity Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 1,000,000 $ 1,000,030 $ 1,350,001 $ 1,349,977 |
Schedule of Interest Rate Payment Terms For Investments [Table Text Block] | Interest Rate Payment Terms of Available-for-Sale Securities (in thousands) September 30, 2015 December 31, 2014 Amortized cost of available-for-sale securities: Fixed-rate $ 1,000,000 $ 1,350,001 |
Held-to-Maturity Securities (Ta
Held-to-Maturity Securities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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) September 30, 2015 Amortized Cost (1) Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value Non-mortgage-backed securities: Government-sponsored enterprises (GSE) (2) $ 32,672 $ 8 $ — $ 32,680 Total non-mortgage-backed securities 32,672 8 — 32,680 Mortgage-backed securities: Other U.S. obligation single-family mortgage-backed securities (3) 4,044,562 19,025 (3,148 ) 4,060,439 GSE single-family mortgage-backed securities (4) 11,009,991 174,461 (57,775 ) 11,126,677 Total mortgage-backed securities 15,054,553 193,486 (60,923 ) 15,187,116 Total $ 15,087,225 $ 193,494 $ (60,923 ) $ 15,219,796 December 31, 2014 Amortized Cost (1) Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value Non-mortgage-backed securities: GSE (2) $ 26,099 $ — $ — $ 26,099 Total non-mortgage-backed securities 26,099 — — 26,099 Mortgage-backed securities: Other U.S. obligation single-family mortgage-backed securities (3) 2,038,960 10,021 (1,017 ) 2,047,964 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 (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. |
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 Premiums (Discounts) Included in the Amortized Cost of Mortgage-backed Securities Classified as Held-to-Maturity (in thousands) September 30, 2015 December 31, 2014 Premiums $ 76,952 $ 24,473 Discounts (43,166 ) (51,357 ) Net purchased premiums (discounts) $ 33,786 $ (26,884 ) |
Schedule of Unrealized Loss on Investments [Table Text Block] | Held-to-Maturity Securities in a Continuous Unrealized Loss Position (in thousands) September 30, 2015 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 mortgage-backed securities (1) $ 1,287,611 $ (3,148 ) $ — $ — $ 1,287,611 $ (3,148 ) GSE single-family mortgage-backed securities (2) 2,158,826 (20,012 ) 2,173,093 (37,763 ) 4,331,919 (57,775 ) Total $ 3,446,437 $ (23,160 ) $ 2,173,093 $ (37,763 ) $ 5,619,530 $ (60,923 ) 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 mortgage-backed securities (1) $ — $ — $ 197,625 $ (1,017 ) $ 197,625 $ (1,017 ) 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 ) (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) September 30, 2015 December 31, 2014 Year of Maturity Amortized Cost (1) Fair Value Amortized Cost (1) Fair Value Non-mortgage-backed securities: Due in 1 year or less $ 32,672 $ 32,680 $ 26,099 $ 26,099 Due after 1 year through 5 years — — — — Due after 5 years through 10 years — — — — Due after 10 years — — — — Total non-mortgage-backed securities 32,672 32,680 26,099 26,099 Mortgage-backed securities (2) 15,054,553 15,187,116 14,686,172 14,768,227 Total $ 15,087,225 $ 15,219,796 $ 14,712,271 $ 14,794,326 (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) September 30, 2015 December 31, 2014 Amortized cost of non-mortgage-backed securities: Fixed-rate $ 32,672 $ 26,099 Total amortized cost of non-mortgage-backed securities 32,672 26,099 Amortized cost of mortgage-backed securities: Fixed-rate 12,821,910 12,091,591 Variable-rate 2,232,643 2,594,581 Total amortized cost of mortgage-backed securities 15,054,553 14,686,172 Total $ 15,087,225 $ 14,712,271 |
Advances Advances (Tables)
Advances Advances (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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) September 30, 2015 December 31, 2014 Total fixed-rate (1) $ 27,325,281 $ 17,945,050 Total variable-rate (1) 49,878,245 52,353,457 Total par value $ 77,203,526 $ 70,298,507 (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 Call Date for Callable Advances (in thousands) Year of Contractual Maturity or Next Call Date September 30, 2015 December 31, 2014 Due in 1 year or less $ 34,804,247 $ 23,003,946 Due after 1 year through 2 years 10,479,325 12,159,384 Due after 2 years through 3 years 15,034,193 9,659,975 Due after 3 years through 4 years 9,557,844 12,295,893 Due after 4 years through 5 years 5,748,467 9,970,280 Thereafter 1,579,450 3,209,029 Total par value $ 77,203,526 $ 70,298,507 Advance Redemption Terms (dollars in thousands) September 30, 2015 December 31, 2014 Redemption Term Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Due in 1 year or less $ 26,158,998 0.36 % $ 14,139,630 0.40 % Due after 1 year through 2 years 15,086,020 0.79 14,810,847 0.54 Due after 2 years through 3 years 15,549,138 0.66 12,829,760 0.69 Due after 3 years through 4 years 10,506,240 0.65 14,222,722 0.60 Due after 4 years through 5 years 6,462,680 0.75 10,724,619 0.54 Thereafter 3,440,450 1.66 3,570,929 1.51 Total par value 77,203,526 0.63 70,298,507 0.60 Commitment fees (673 ) (699 ) Discount on AHP Advances (10,043 ) (12,110 ) Premiums 2,824 3,058 Discounts (9,132 ) (12,572 ) Hedging adjustments 133,607 129,390 Fair value option valuation adjustments and accrued interest 214 42 Total $ 77,320,323 $ 70,405,616 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 September 30, 2015 December 31, 2014 Due in 1 year or less $ 27,686,898 $ 15,753,030 Due after 1 year through 2 years 14,392,620 14,663,847 Due after 2 years through 3 years 14,994,138 12,115,860 Due after 3 years through 4 years 10,396,740 13,649,722 Due after 4 years through 5 years 6,462,680 10,715,119 Thereafter 3,270,450 3,400,929 Total par value $ 77,203,526 $ 70,298,507 |
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 FHLB (dollars in millions) September 30, 2015 December 31, 2014 Principal % of Total Principal % of Total JPMorgan Chase Bank, N.A. $ 37,300 48 % JPMorgan Chase Bank, N.A. $ 41,300 59 % U.S. Bank, N.A. 9,253 12 U.S. Bank, N.A. 8,338 12 Total $ 46,553 60 % Total $ 49,638 71 % |
Mortgage Loans Held for Portf35
Mortgage Loans Held for Portfolio (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Mortgage Loans on Real Estate [Abstract] | |
Mortgage Loans Held for Portfolio [Table Text Block] | Mortgage Loans Held for Portfolio (in thousands) September 30, 2015 December 31, 2014 Unpaid principal balance: Fixed rate medium-term single-family mortgage loans (1) $ 1,505,964 $ 1,393,525 Fixed rate long-term single-family mortgage loans 6,283,218 5,402,479 Total unpaid principal balance 7,789,182 6,796,004 Premiums 206,921 179,540 Discounts (2,131 ) (2,460 ) Hedging basis adjustments (2) 20,490 16,518 Total mortgage loans held for portfolio $ 8,014,462 $ 6,989,602 (1) Medium-term is defined as a term of 15 years or less. (2) Represents the unamortized balance of the mortgage purchase commitments' market values at the time of settlement. The market value of the commitment is included in the basis of the mortgage loan and amortized accordingly. Mortgage Loans Held for Portfolio by Collateral/Guarantee Type (in thousands) September 30, 2015 December 31, 2014 Unpaid principal balance: Conventional mortgage loans $ 7,285,491 $ 6,203,318 Federal Housing Administration (FHA) mortgage loans 503,691 592,686 Total unpaid principal balance $ 7,789,182 $ 6,796,004 |
Members Selling Five Percent or more of Total Unpaid Principal [Table Text Block] | Members, Including Any Known Affiliates that are Members of the FHLB, and Former Members Selling Five Percent or more of Total Unpaid Principal (dollars in millions) September 30, 2015 December 31, 2014 Principal % of Total Principal % of Total Union Savings Bank $ 2,264 29 % Union Savings Bank $ 1,593 23 % PNC Bank, N.A. (1) 894 11 PNC Bank, N.A. (1) 1,074 16 Guardian Savings Bank FSB 648 8 Guardian Savings Bank FSB 406 6 (1) Former member. |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Allowance for Credit Losses [Abstract] | |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Rollforward of Allowance for Credit Losses on Conventional Mortgage Loans (in thousands) Three Months Ended September 30, 2015 2014 Balance, beginning of period $ 1,701 $ 5,441 Net recoveries (charge offs) (1) 14 (414 ) Reversal for credit losses — — Balance, end of period $ 1,715 $ 5,027 Nine Months Ended September 30, 2015 2014 Balance, beginning of period $ 4,919 $ 7,233 Net charge offs (1) (3,204 ) (1,306 ) Reversal for credit losses — (900 ) Balance, end of period $ 1,715 $ 5,027 (1) On January 1, 2015, the FHLB adopted the charge off provisions of the Finance Agency's Advisory Bulletin 2012-02, which require the FHLB to charge off the estimated loss portion of loans 180 days or more past due and certain loans in which the borrower has filed for bankruptcy. |
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) September 30, 2015 December 31, 2014 Allowance for credit losses, end of period: Collectively evaluated for impairment $ 1,713 $ 4,766 Individually evaluated for impairment 2 153 Total $ 1,715 $ 4,919 Recorded investment, end of period: Collectively evaluated for impairment $ 7,518,868 $ 6,402,994 Individually evaluated for impairment 9,718 8,639 Total recorded investment $ 7,528,586 $ 6,411,633 |
Changes in LRA [Table Text Block] | Changes in the LRA (in thousands) Nine Months Ended September 30, 2015 LRA at beginning of year $ 129,213 Additions 29,723 Claims (1,323 ) Scheduled distributions (1,487 ) LRA at end of period $ 156,126 |
Past Due Financing Receivables [Table Text Block] | Recorded Investment in Delinquent Mortgage Loans (dollars in thousands) September 30, 2015 Conventional MPP Loans FHA Loans Total Past due 30-59 days delinquent $ 43,183 $ 33,621 $ 76,804 Past due 60-89 days delinquent 8,090 8,421 16,511 Past due 90 days or more delinquent 32,016 17,001 49,017 Total past due 83,289 59,043 142,332 Total current mortgage loans 7,445,297 453,710 7,899,007 Total mortgage loans $ 7,528,586 $ 512,753 $ 8,041,339 Other delinquency statistics: In process of foreclosure, included above (1) $ 24,130 $ 7,784 $ 31,914 Serious delinquency rate (2) 0.44 % 3.38 % 0.62 % Past due 90 days or more still accruing interest (3) $ 25,986 $ 17,001 $ 42,987 Loans on non-accrual status, included above $ 7,096 $ — $ 7,096 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 (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. |
Individually Evaluated Impaired Loan Statistics by Product Class Level [Table Text Block] | Individually Evaluated Impaired Loan Statistics by Product Class Level (in thousands) September 30, 2015 December 31, 2014 Conventional MPP loans Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance $ 9,626 $ 9,432 $ — $ 5,297 $ 5,165 $ — With an allowance 92 89 2 3,342 3,293 153 Total $ 9,718 $ 9,521 $ 2 $ 8,639 $ 8,458 $ 153 |
Impaired Financing Receivables [Table Text Block] | Average Recorded Investment of Individually Evaluated Impaired Loans and Related Interest Income Recognized (in thousands) Three Months Ended September 30, 2015 2014 Individually impaired loans Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Conventional MPP Loans $ 9,445 $ 123 $ 8,575 $ 111 Nine Months Ended September 30, 2015 2014 Individually impaired loans Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Conventional MPP Loans $ 8,758 $ 342 $ 8,096 $ 315 |
Derivatives and Hedging Activ37
Derivatives and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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) September 30, 2015 Notional Amount of Derivatives Derivative Assets Derivative Liabilities Derivatives designated as fair value hedging instruments: Interest rate swaps $ 5,817,628 $ 20,409 $ 140,758 Derivatives not designated as hedging instruments: Interest rate swaps 6,398,000 3,421 5,265 Forward rate agreements 166,000 — 1,137 Mortgage delivery commitments 160,810 1,253 — Total derivatives not designated as hedging instruments 6,724,810 4,674 6,402 Total derivatives before netting and collateral adjustments $ 12,542,438 25,083 147,160 Netting adjustments and cash collateral (1) 284 (105,762 ) Total derivative assets and total derivative liabilities $ 25,367 $ 41,398 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 (1) Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $107,465 and $78,755 at September 30, 2015 and December 31, 2014 . Cash collateral received and related accrued interest was (in thousands) $1,420 and $2,720 at September 30, 2015 and December 31, 2014 . |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | Net Gains on Derivatives and Hedging Activities (in thousands) Three Months Ended September 30, 2015 2014 Derivatives and hedged items in fair value hedging relationships: Interest rate swaps $ 388 $ 555 Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps 1,603 (335 ) Forward rate agreements (5,411 ) (1,678 ) Net interest settlements 1,296 202 Mortgage delivery commitments 7,516 1,345 Total net gains (losses) related to derivatives not designated as hedging instruments 5,004 (466 ) Net gains on derivatives and hedging activities $ 5,392 $ 89 Nine Months Ended September 30, 2015 2014 Derivatives and hedged items in fair value hedging relationships: Interest rate swaps $ 2,350 $ 1,708 Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps 4,009 673 Forward rate agreements (3,670 ) (7,759 ) Net interest settlements 5,661 132 Mortgage delivery commitments 4,625 7,584 Total net gains related to derivatives not designated as hedging instruments 10,625 630 Net gains on derivatives and hedging activities $ 12,975 $ 2,338 |
Schedule of Derivative Instruments By Type, Gain (Loss) in Statement of Financial Performance [Table Text Block] | Effect of Fair Value Hedge-Related Derivative Instruments (in thousands) Three Months Ended September 30, 2015 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 $ (26,128 ) $ 26,327 $ 199 $ (21,719 ) Consolidated Bonds 1,715 (1,526 ) 189 5,291 Total $ (24,413 ) $ 24,801 $ 388 $ (16,428 ) 2014 Hedged Item Type: Advances $ 30,709 $ (29,829 ) $ 880 $ (22,705 ) Consolidated Bonds (5,390 ) 5,065 (325 ) 4,476 Total $ 25,319 $ (24,764 ) $ 555 $ (18,229 ) Nine Months Ended September 30, 2015 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 $ (4,694 ) $ 6,798 $ 2,104 $ (62,980 ) Consolidated Bonds (1,451 ) 1,697 246 14,907 Total $ (6,145 ) $ 8,495 $ 2,350 $ (48,073 ) 2014 Hedged Item Type: Advances $ 61,036 $ (59,401 ) $ 1,635 $ (69,088 ) Consolidated Bonds (12,777 ) 12,850 73 13,957 Total $ 48,259 $ (46,551 ) $ 1,708 $ (55,131 ) (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) $(872) and $(677) of (amortization)/accretion related to fair value hedging activities for the three months ended September 30, 2015 and 2014 and (in thousands) $(2,580) and $(2,564) for the nine months ended September 30, 2015 and 2014 . |
Offsetting Assets and Liabilities [Table Text Block] | Offsetting of Derivative Assets and Derivative Liabilities (in thousands) September 30, 2015 December 31, 2014 Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Derivative instruments meeting netting requirements: Gross recognized amount: Uncleared derivatives $ 13,948 $ 114,705 $ 19,585 $ 141,352 Cleared derivatives 9,882 31,318 1,141 3,357 Total gross recognized amount 23,830 146,023 20,726 144,709 Gross amounts of netting adjustments and cash collateral: Uncleared derivatives (13,948 ) (74,444 ) (19,544 ) (82,510 ) Cleared derivatives 14,232 (31,318 ) 9,712 (3,357 ) Total gross amounts of netting adjustments and cash collateral 284 (105,762 ) (9,832 ) (85,867 ) Net amounts after netting adjustments and cash collateral: Uncleared derivatives — 40,261 41 58,842 Cleared derivatives 24,114 — 10,853 — Total net amounts after netting adjustments and cash collateral 24,114 40,261 10,894 58,842 Derivative instruments not meeting netting requirements (1) : Uncleared derivatives 1,253 1,137 3,805 4,925 Total derivative instruments not meeting netting requirements (1) 1,253 1,137 3,805 4,925 Total derivative assets and total derivative liabilities: Uncleared derivatives 1,253 41,398 3,846 63,767 Cleared derivatives 24,114 — 10,853 — Total derivative assets and total derivative liabilities $ 25,367 $ 41,398 $ 14,699 $ 63,767 (1) Represents mortgage delivery commitments and forward rate agreements that are not subject to an enforceable netting agreement. |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Deposits [Abstract] | |
Schedule of Deposit Liabilities by Component [Table Text Block] | Deposits (in thousands) September 30, 2015 December 31, 2014 Interest bearing: Demand and overnight $ 652,122 $ 624,446 Term 95,900 99,600 Other 7,302 5,592 Total interest bearing 755,324 729,638 Non-interest bearing: Other 327 298 Total non-interest bearing 327 298 Total deposits $ 755,651 $ 729,936 |
Consolidated Obligations (Table
Consolidated Obligations (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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) September 30, 2015 $ 60,086,261 $ 60,100,397 0.15 % December 31, 2014 $ 41,232,127 $ 41,238,122 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) September 30, 2015 December 31, 2014 Year of Contractual Maturity Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Due in 1 year or less $ 16,668,000 0.55 % $ 32,477,000 0.24 % Due after 1 year through 2 years 6,121,750 1.17 6,918,000 1.19 Due after 2 years through 3 years 5,629,000 1.62 4,594,000 1.56 Due after 3 years through 4 years 3,716,000 1.84 4,245,000 1.79 Due after 4 years through 5 years 3,513,000 2.07 2,647,000 2.08 Thereafter 8,406,000 2.80 8,217,000 2.79 Index amortizing notes 1,008 5.25 25,297 5.07 Total par value 44,054,758 1.43 59,123,297 1.00 Premiums 97,754 103,477 Discounts (26,167 ) (25,161 ) Hedging adjustments 13,607 15,304 Fair value option valuation adjustment and accrued interest 2,546 (360 ) Total $ 44,142,498 $ 59,216,557 |
Schedule Of Consolidated Obligation Bonds By Call Feature [Table Text Block] | Consolidated Bonds Outstanding by Call Features (in thousands) September 30, 2015 December 31, 2014 Par value of Consolidated Bonds: Non-callable $ 36,398,758 $ 49,976,297 Callable 7,656,000 9,147,000 Total par value $ 44,054,758 $ 59,123,297 |
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 September 30, 2015 December 31, 2014 Due in 1 year or less $ 23,642,000 $ 40,774,000 Due after 1 year through 2 years 5,791,750 5,413,000 Due after 2 years through 3 years 3,799,000 3,317,000 Due after 3 years through 4 years 3,010,000 2,685,000 Due after 4 years through 5 years 2,753,000 1,992,000 Thereafter 5,058,000 4,917,000 Index amortizing notes 1,008 25,297 Total par value $ 44,054,758 $ 59,123,297 |
Schedule Of Consolidated Obligation Bonds By Interest Rate Payment Terms [Table Text Block] | Consolidated Bonds by Interest-rate Payment Type (in thousands) September 30, 2015 December 31, 2014 Par value of Consolidated Bonds: Fixed-rate $ 35,454,758 $ 31,363,297 Variable-rate 8,465,000 27,610,000 Step-up 135,000 150,000 Total par value $ 44,054,758 $ 59,123,297 |
Affordable Housing Program (A40
Affordable Housing Program (AHP) (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Affordable Housing Program (AHP) [Abstract] | |
Schedule of Activity in Affordable Housing Program Obligation [Table Text Block] | Analysis of AHP Liability (in thousands) Balance at December 31, 2014 $ 98,103 Assessments (current year additions) 20,866 Subsidy uses, net (14,837 ) Balance at September 30, 2015 $ 104,132 |
Capital (Tables)
Capital (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Capital [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Capital Requirements (dollars in thousands) September 30, 2015 December 31, 2014 Minimum Requirement Actual Minimum Requirement Actual Risk-based capital $ 531,867 $ 5,200,942 $ 481,835 $ 5,018,567 Capital-to-assets ratio (regulatory) 4.00 % 4.70 % 4.00 % 4.71 % Regulatory capital $ 4,426,069 $ 5,200,942 $ 4,265,617 $ 5,018,567 Leverage capital-to-assets ratio (regulatory) 5.00 % 7.05 % 5.00 % 7.06 % Leverage capital $ 5,532,586 $ 7,801,413 $ 5,332,021 $ 7,527,851 |
Schedule of Mandatorily Redeemable Capital Stock [Table Text Block] | Mandatorily Redeemable Capital Stock Roll Forward (in thousands) Balance, December 31, 2014 $ 62,963 Capital stock subject to mandatory redemption reclassified from equity 23,531 Redemption (or other reduction) of mandatorily redeemable capital stock (27,406 ) Balance, September 30, 2015 $ 59,088 |
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 September 30, 2015 December 31, 2014 Year 1 $ — $ 130 Year 2 — — Year 3 45 — Year 4 2,265 55 Year 5 3,101 2,278 Past contractual redemption date due to remaining activity (1) 53,677 60,500 Total $ 59,088 $ 62,963 (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 Comprehensi42
Accumulated Other Comprehensive (Loss) Income (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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 (losses) gains on available-for-sale securities Pension and postretirement benefits Total accumulated other comprehensive (loss) income BALANCE, JUNE 30, 2014 $ (19 ) $ (8,295 ) $ (8,314 ) Other comprehensive income before reclassification: Net unrealized gains 28 — 28 Reclassifications from other comprehensive income to net income: Amortization - pension and postretirement benefits — 757 757 Net current period other comprehensive income 28 757 785 BALANCE, SEPTEMBER 30, 2014 $ 9 $ (7,538 ) $ (7,529 ) BALANCE, JUNE 30, 2015 $ 13 $ (15,336 ) $ (15,323 ) Other comprehensive income before reclassification: Net unrealized gains 17 — 17 Reclassifications from other comprehensive income to net income: Amortization - pension and postretirement benefits — 726 726 Net current period other comprehensive income 17 726 743 BALANCE, SEPTEMBER 30, 2015 $ 30 $ (14,610 ) $ (14,580 ) Net unrealized (losses) gains on available-for-sale securities Pension and postretirement benefits Total accumulated other comprehensive (loss) income BALANCE, DECEMBER 31, 2013 $ (121 ) $ (8,921 ) $ (9,042 ) Other comprehensive income before reclassification: Net unrealized gains 130 — 130 Reclassifications from other comprehensive income to net income: Amortization - pension and postretirement benefits — 1,383 1,383 Net current period other comprehensive income 130 1,383 1,513 BALANCE, SEPTEMBER 30, 2014 $ 9 $ (7,538 ) $ (7,529 ) BALANCE, DECEMBER 31, 2014 $ (24 ) $ (16,572 ) $ (16,596 ) Other comprehensive income before reclassification: Net unrealized gains 54 — 54 Reclassifications from other comprehensive income to net income: Amortization - pension and postretirement benefits — 1,962 1,962 Net current period other comprehensive income 54 1,962 2,016 BALANCE, SEPTEMBER 30, 2015 $ 30 $ (14,610 ) $ (14,580 ) |
Pension and Postretirement Be43
Pension and Postretirement Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Pension and Postretirement Benefit Plans [Abstract] | |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | Net Periodic Benefit Cost (in thousands) Three Months Ended September 30, Defined Benefit Retirement Plan Postretirement Benefits Plan 2015 2014 2015 2014 Net Periodic Benefit Cost Service cost $ 186 $ 178 $ 19 $ 9 Interest cost 321 380 51 28 Amortization of net loss 710 757 16 — Net periodic benefit cost $ 1,217 $ 1,315 $ 86 $ 37 Nine Months Ended September 30, Defined Benefit Postretirement Benefits Plan 2015 2014 2015 2014 Net Periodic Benefit Cost Service cost $ 501 $ 393 $ 56 $ 25 Interest cost 917 926 152 85 Amortization of net loss 1,912 1,383 50 — Net periodic benefit cost $ 3,330 $ 2,702 $ 258 $ 110 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Financial Performance by Operating Segment (in thousands) Three Months Ended September 30, Traditional Member Finance MPP Total 2015 Net interest income after reversal for credit losses $ 63,021 $ 14,001 $ 77,022 Non-interest income 7,268 2,106 9,374 Non-interest expense 16,115 2,705 18,820 Income before assessments 54,174 13,402 67,576 Affordable Housing Program assessments 5,484 1,340 6,824 Net income $ 48,690 $ 12,062 $ 60,752 Average assets $ 96,494,208 $ 7,883,779 $ 104,377,987 Total assets $ 102,611,201 $ 8,040,520 $ 110,651,721 2014 Net interest income after reversal for credit losses $ 57,837 $ 25,286 $ 83,123 Non-interest income (loss) 4,114 (333 ) 3,781 Non-interest expense 14,915 2,503 17,418 Income before assessments 47,036 22,450 69,486 Affordable Housing Program assessments 4,816 2,245 7,061 Net income $ 42,220 $ 20,205 $ 62,425 Average assets $ 92,409,851 $ 6,814,389 $ 99,224,240 Total assets $ 93,037,422 $ 6,929,180 $ 99,966,602 Nine Months Ended September 30, Traditional Member Finance MPP Total 2015 Net interest income after reversal for credit losses $ 185,527 $ 53,713 $ 239,240 Non-interest income 22,083 957 23,040 Non-interest expense 47,828 7,710 55,538 Income before assessments 159,782 46,960 206,742 Affordable Housing Program assessments 16,171 4,695 20,866 Net income $ 143,611 $ 42,265 $ 185,876 Average assets $ 95,206,839 $ 7,507,369 $ 102,714,208 Total assets $ 102,611,201 $ 8,040,520 $ 110,651,721 2014 Net interest income $ 173,902 $ 63,169 $ 237,071 Reversal for credit losses — (900 ) (900 ) Net interest income after reversal for credit losses 173,902 64,069 237,971 Non-interest income (loss) 14,022 (173 ) 13,849 Non-interest expense 44,252 6,927 51,179 Income before assessments 143,672 56,969 200,641 Affordable Housing Program assessments 14,715 5,697 20,412 Net income $ 128,957 $ 51,272 $ 180,229 Average assets $ 94,195,690 $ 6,764,233 $ 100,959,923 Total assets $ 93,037,422 $ 6,929,180 $ 99,966,602 |
Fair Value Disclosures Fair Val
Fair Value Disclosures Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Summary (in thousands) September 30, 2015 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 $ 971,159 $ 971,159 $ 971,159 $ — $ — $ — Interest-bearing deposits 153 153 — 153 — — Securities purchased under agreements to resell 2,724,000 2,724,000 — 2,724,000 — — Federal funds sold 5,390,000 5,390,000 — 5,390,000 — — Trading securities 1,206 1,206 — 1,206 — — Available-for-sale securities 1,000,030 1,000,030 — 1,000,030 — — Held-to-maturity securities 15,087,225 15,219,796 — 15,219,796 — — Advances (2) 77,320,323 77,275,431 — 77,275,431 — — Mortgage loans held for portfolio, net 8,012,747 8,219,117 — 8,187,031 32,086 — Accrued interest receivable 90,158 90,158 — 90,158 — — Derivative assets 25,367 25,367 — 25,083 — 284 Liabilities: Deposits 755,651 755,638 — 755,638 — — Consolidated Obligations: Discount Notes 60,086,261 60,080,868 — 60,080,868 — — Bonds (3) 44,142,498 44,632,920 — 44,632,920 — — Mandatorily redeemable capital stock 59,088 59,088 59,088 — — — Accrued interest payable 126,037 126,037 — 126,037 — — Derivative liabilities 41,398 41,398 — 147,160 — (105,762 ) Other: Commitments to extend credit for Advances — (14 ) — (14 ) — — Standby bond purchase agreements — 756 — 756 — — (1) Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. (2) Includes (in thousands) $15,214 of Advances recorded under the fair value option at September 30, 2015 . (3) Includes (in thousands) $5,757,546 of Consolidated Obligation Bonds recorded under the fair value option at September 30, 2015 . December 31, 2014 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, net 6,984,683 7,219,198 — 7,178,047 41,151 — 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 stock 62,963 62,963 62,963 — — — 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 FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB 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 . |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements (in thousands) Fair Value Measurements at September 30, 2015 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 $ 1,206 $ — $ 1,206 $ — $ — Available-for-sale securities: Certificates of deposit 1,000,030 — 1,000,030 — — Advances 15,214 — 15,214 — — Derivative assets: Interest rate swaps 24,114 — 23,830 — 284 Mortgage delivery commitments 1,253 — 1,253 — — Total derivative assets 25,367 — 25,083 — 284 Total assets at fair value $ 1,041,817 $ — $ 1,041,533 $ — $ 284 Recurring fair value measurements - Liabilities Consolidated Obligation Bonds $ 5,757,546 $ — $ 5,757,546 $ — $ — Derivative liabilities: Interest rate swaps 40,261 — 146,023 — (105,762 ) Forward rate agreement 1,137 — 1,137 — — Total derivative liabilities 41,398 — 147,160 — (105,762 ) Total liabilities at fair value $ 5,798,944 $ — $ 5,904,706 $ — $ (105,762 ) Nonrecurring fair value measurements - Assets (2) Mortgage loans held for portfolio $ 6,396 $ — $ — $ 6,396 (1) Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. (2) The fair value information presented is as of the date the fair value adjustment was recorded during the nine months ended September 30, 2015 . 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 agreements 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 FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. |
Fair Value, Option, Quantitative Disclosures [Table Text Block] | Fair Value Option - Financial Assets and Liabilities (in thousands) Three Months Ended September 30, 2015 2014 Advances Consolidated Bonds Advances Consolidated Bonds Balance at beginning of period $ 15,129 $ (5,623,179 ) $ — $ (2,780,023 ) New transactions elected for fair value option — (2,045,000 ) 10,000 (2,150,000 ) Maturities and terminations — 1,910,000 — 1,250,000 Net gains (losses) on financial instruments held under fair value option 85 (186 ) (44 ) (115 ) Change in accrued interest — 819 12 (191 ) Balance at end of period $ 15,214 $ (5,757,546 ) $ 9,968 $ (3,680,329 ) Nine Months Ended September 30, 2015 2014 Advances Consolidated Bonds Advances Consolidated Bonds Balance at beginning of period $ 15,042 $ (4,209,640 ) $ — $ (4,018,370 ) New transactions elected for fair value option — (7,807,000 ) 10,000 (4,915,000 ) Maturities and terminations — 6,262,000 — 5,250,000 Net gains (losses) on financial instruments held under fair value option 173 (1,884 ) (44 ) 1,165 Change in accrued interest (1 ) (1,022 ) 12 1,876 Balance at end of period $ 15,214 $ (5,757,546 ) $ 9,968 $ (3,680,329 ) |
Fair Value, Option, Quantitative Disclosures, Change in Fair Value Included in Earnings [Table Text Block] | Changes in Fair Values for Items Measured at Fair Value Pursuant to the Election of the Fair Value Option (in thousands) Three Months Ended September 30, 2015 2014 Advances Consolidated Bonds Advances Consolidated Bonds Interest income (expense) $ 65 $ (3,256 ) $ 19 $ (1,616 ) Net gains (losses) on changes in fair value under fair value option 85 (186 ) (44 ) (115 ) Total changes in fair value included in current period earnings $ 150 $ (3,442 ) $ (25 ) $ (1,731 ) Nine Months Ended September 30, 2015 2014 Advances Consolidated Bonds Advances Consolidated Bonds Interest income (expense) $ 191 $ (10,977 ) $ 19 $ (4,055 ) Net gains (losses) on changes in fair value under fair value option 173 (1,884 ) (44 ) 1,165 Total changes in fair value included in current period earnings $ 364 $ (12,861 ) $ (25 ) $ (2,890 ) |
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) September 30, 2015 December 31, 2014 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 $ 15,214 $ 214 $ 15,000 $ 15,042 $ 42 Consolidated Bonds 5,755,000 5,757,546 2,546 4,210,000 4,209,640 (360 ) (1) At September 30, 2015 and December 31, 2014 , 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) | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Off-Balance Sheet Commitments [Table Text Block] | Off-Balance Sheet Commitments (in thousands) September 30, 2015 December 31, 2014 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 $ 17,462,812 $ 131,659 $ 17,594,471 $ 17,233,206 $ 546,385 $ 17,779,591 Commitments for standby bond purchases 89,495 39,745 129,240 37,490 149,705 187,195 Commitments to fund additional Advances 3,000 — 3,000 — — — Commitments to purchase mortgage loans 160,810 — 160,810 451,292 — 451,292 Unsettled Consolidated Bonds, at par (1)(2) 270,000 — 270,000 17,000 — 17,000 Unsettled Consolidated Discount Notes, at par (1) — — — 5,000 — 5,000 (1) Expiration is based on settlement period rather than underlying contractual maturity of Consolidated Obligations. (2) Of the total unsettled Consolidated Bonds, $15,000 and $17,000 (in thousands) were hedged with associated interest rate swaps at September 30, 2015 and December 31, 2014 , respectively. |
Transactions with Other FHLBa47
Transactions with Other FHLBanks (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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 FHLB and Other FHLBanks (in thousands) Average Daily Balances for the Nine Months Ended September 30, 2015 2014 Loans to other FHLBanks $ — $ 586 Borrowings from other FHLBanks — — |
Transactions with Stockholders
Transactions with Stockholders (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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 September 30, 2015 Balance % of Total Principal Principal Balance JPMorgan Chase Bank, N.A. $ 1,533 34 % $ 37,300 $ — U.S. Bank, N.A. 475 11 9,253 34 Fifth Third Bank 248 6 3,470 3 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 |
Director [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) September 30, 2015 December 31, 2014 Balance % of Total (1) Balance % of Total (1) Advances $ 3,358 4.3 % $ 2,929 4.2 % MPP 180 2.3 154 2.3 Regulatory capital stock 232 5.2 225 5.2 (1) Percentage of total principal (Advances), unpaid principal balance (MPP), and regulatory capital stock. |
Background Information (Details
Background Information (Details) | Sep. 30, 2015Banks |
Background Information [Abstract] | |
Number of Federal Home Loan Banks | 11 |
Trading Securities (Trading Sec
Trading Securities (Trading Securities by Major Type) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading securities | $ 1,206 | $ 1,341 | |
Single Family, Mortgage-backed Securities, Other US Obligations [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading securities | [1] | $ 1,206 | $ 1,341 |
[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 ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Trading Securities [Abstract] | ||||
Net losses on trading securities held at period end | $ (9) | $ (6) | ||
Net losses on trading securities | $ (2) | $ (2) | $ (9) | $ (6) |
Available-for-Sale Securities52
Available-for-Sale Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | $ 1,000,000 | $ 1,350,001 |
Available For Sale Debt Securities Gross Unrealized Gain Accumulated In Investments | 30 | 3 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | (27) |
Available-for-sale securities | 1,000,030 | 1,349,977 |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Amortized Cost Basis | 1,000,000 | 1,350,001 |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value | 1,000,030 | 1,349,977 |
Fixed-rate [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 1,000,000 | 1,350,001 |
Certificates of Deposit [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 1,000,000 | 1,350,001 |
Available For Sale Debt Securities Gross Unrealized Gain Accumulated In Investments | 30 | 3 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | (27) |
Available-for-sale securities | $ 1,000,030 | $ 1,349,977 |
Held-to-Maturity Securities (Ma
Held-to-Maturity Securities (Major Security Types) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Schedule of Held-to-maturity Securities [Line Items] | |||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | [1],[2] | $ 15,087,225 | $ 14,712,271 |
Held-to-maturity Securities | [3] | 15,087,225 | 14,712,271 |
Held-to-maturity Securities, Unrecognized Holding Gain | 193,494 | 201,891 | |
Held-to-maturity Securities, Unrecognized Holding Loss | (60,923) | (119,836) | |
Held-to-maturity Securities, Fair Value | 15,219,796 | 14,794,326 | |
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 | [2],[4] | 32,672 | 26,099 |
Held-to-maturity Securities | [4] | 32,672 | 26,099 |
Held-to-maturity Securities, Unrecognized Holding Gain | [4] | 8 | 0 |
Held-to-maturity Securities, Unrecognized Holding Loss | [4] | 0 | 0 |
Held-to-maturity Securities, Fair Value | [4] | 32,680 | 26,099 |
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 | [1],[2] | 32,672 | 26,099 |
Held-to-maturity Securities | 32,672 | 26,099 | |
Held-to-maturity Securities, Unrecognized Holding Gain | 8 | 0 | |
Held-to-maturity Securities, Unrecognized Holding Loss | 0 | 0 | |
Held-to-maturity Securities, Fair Value | 32,680 | 26,099 | |
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],[5] | 4,044,562 | 2,038,960 |
Held-to-maturity Securities | [5] | 4,044,562 | 2,038,960 |
Held-to-maturity Securities, Unrecognized Holding Gain | [5] | 19,025 | 10,021 |
Held-to-maturity Securities, Unrecognized Holding Loss | [5] | (3,148) | (1,017) |
Held-to-maturity Securities, Fair Value | [5] | 4,060,439 | 2,047,964 |
Collateralized Mortgage Backed Securities [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | [1],[2],[6] | 15,054,553 | 14,686,172 |
Held-to-maturity Securities | [6] | 15,054,553 | 14,686,172 |
Held-to-maturity Securities, Unrecognized Holding Gain | 193,486 | 201,891 | |
Held-to-maturity Securities, Unrecognized Holding Loss | (60,923) | (119,836) | |
Held-to-maturity Securities, Fair Value | [6] | 15,187,116 | 14,768,227 |
Single Family [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 | [2],[7] | 11,009,991 | 12,647,212 |
Held-to-maturity Securities | [7] | 11,009,991 | 12,647,212 |
Held-to-maturity Securities, Unrecognized Holding Gain | [7] | 174,461 | 191,870 |
Held-to-maturity Securities, Unrecognized Holding Loss | [7] | (57,775) | (118,819) |
Held-to-maturity Securities, Fair Value | [7] | $ 11,126,677 | $ 12,720,263 |
[1] | Carrying value equals amortized cost. | ||
[2] | Carrying value equals amortized cost. | ||
[3] | Fair values: $15,219,796 and $14,794,326 at September 30, 2015 and December 31, 2014, respectively. | ||
[4] | Consists of debt securities issued and effectively guaranteed by Freddie Mac and/or Fannie Mae, which have the support of the U.S. government, although they are not obligations of the U.S. government. | ||
[5] | Consists of Ginnie Mae mortgage-backed securities and/or mortgage-backed securities issued or guaranteed by the National Credit Union Administration (NCUA) and the U.S. government. | ||
[6] | Mortgage-backed securities are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. | ||
[7] | Consists of mortgage-backed securities issued and effectively guaranteed by Freddie Mac and/or Fannie Mae, which have the support of the U.S. government, although they are not obligations of the U.S. government. |
Held-to-Maturity Securities (Ne
Held-to-Maturity Securities (Net Premuims) (Details) - Collateralized Mortgage Backed Securities [Member] - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held To Maturity Securities, Premiums | $ 76,952 | $ 24,473 |
Held-to-maturity Securities, Discounts | (43,166) | (51,357) |
Held-to-maturity Securities, Premiums (Discounts), Net | $ 33,786 | $ (26,884) |
Held-to-Maturity Securities (Co
Held-to-Maturity Securities (Continuous Unrealized Loss Position) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Schedule of Held-to-maturity Securities [Line Items] | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 3,446,437 | $ 631,907 | |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | (23,160) | (1,348) | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,173,093 | 5,752,674 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (37,763) | (118,488) | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 5,619,530 | 6,384,581 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | (60,923) | (119,836) | |
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 | [1] | 1,287,611 | 0 |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | [1] | (3,148) | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | [1] | 0 | 197,625 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | [1] | 0 | (1,017) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | [1] | 1,287,611 | 197,625 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | [1] | (3,148) | (1,017) |
Single Family [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 | [2] | 2,158,826 | 631,907 |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | [2] | (20,012) | (1,348) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | [2] | 2,173,093 | 5,555,049 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | [2] | (37,763) | (117,471) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | [2] | 4,331,919 | 6,186,956 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | [2] | $ (57,775) | $ (118,819) |
[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. |
Held-to-Maturity Securities (56
Held-to-Maturity Securities (Contractual Maturity) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Schedule of Held-to-maturity Securities [Line Items] | |||
Held-to-maturity Securities | [1] | $ 15,087,225 | $ 14,712,271 |
Held-to-maturity Securities, Fair Value | 15,219,796 | 14,794,326 | |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | [2],[3] | 15,087,225 | 14,712,271 |
Held-to-maturity Securities, Fair Value | 15,219,796 | 14,794,326 | |
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 | [2] | 32,672 | 26,099 |
Held-to-maturity Securities, Debt Maturities, within One Year, Net Carrying Amount | 32,672 | 26,099 | |
Held-to-maturity Securities, Debt Maturities, within One Year, Fair Value | 32,680 | 26,099 | |
Held-to-maturity Securities, Debt Maturities, After One Through Five Years Amortized Cost | [2] | 0 | 0 |
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 | [2] | 0 | 0 |
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 | [2] | 0 | 0 |
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 | 32,672 | 26,099 | |
Held-to-maturity Securities, Fair Value | 32,680 | 26,099 | |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | [2],[3] | 32,672 | 26,099 |
Held-to-maturity Securities, Fair Value | 32,680 | 26,099 | |
Collateralized Mortgage Backed Securities [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Held-to-maturity Securities | [4] | 15,054,553 | 14,686,172 |
Held-to-maturity Securities, Fair Value | [4] | 15,187,116 | 14,768,227 |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | [2],[3],[4] | 15,054,553 | 14,686,172 |
Held-to-maturity Securities, Fair Value | [4] | $ 15,187,116 | $ 14,768,227 |
[1] | Fair values: $15,219,796 and $14,794,326 at September 30, 2015 and December 31, 2014, respectively. | ||
[2] | Carrying value equals amortized cost. | ||
[3] | Carrying value equals amortized cost. | ||
[4] | Mortgage-backed securities are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. |
Held-to-Maturity Securities (In
Held-to-Maturity Securities (Interest Rate Payment Terms) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Schedule of Held-to-maturity Securities [Line Items] | |||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | [1],[2] | $ 15,087,225 | $ 14,712,271 |
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 | [1],[2] | 32,672 | 26,099 |
Collateralized Mortgage Backed Securities [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | [1],[2],[3] | 15,054,553 | 14,686,172 |
Fixed-rate [Member] | 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 | 32,672 | 26,099 | |
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 | 12,821,910 | 12,091,591 | |
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 | $ 2,232,643 | $ 2,594,581 | |
[1] | Carrying value equals amortized cost. | ||
[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. |
Advances (Narrative) (Details)
Advances (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 77,203,526 | $ 70,298,507 |
Federal Home Loan Bank, Advances, Callable Option [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | 16,059,645 | 15,098,357 |
Federal Home Loan Bank, Advances, Putable Option [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 1,556,900 | $ 1,617,400 |
Advances (Advance Redemption Te
Advances (Advance Redemption Terms) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Advances [Abstract] | |||
Due in 1 year or less | $ 26,158,998 | $ 14,139,630 | |
Due after 1 year through 2 years | 15,086,020 | 14,810,847 | |
Due after 2 years through 3 years | 15,549,138 | 12,829,760 | |
Due after 3 years through 4 years | 10,506,240 | 14,222,722 | |
Due after 4 years through 5 years | 6,462,680 | 10,724,619 | |
Thereafter | 3,440,450 | 3,570,929 | |
Federal Home Loan Bank, Advances, Par Value, Total | 77,203,526 | 70,298,507 | |
Commitment Fees on Advances | (673) | (699) | |
Discount on Affordable Housing Program Advances | (10,043) | (12,110) | |
Federal Home Loan Bank Advances, Premium | 2,824 | 3,058 | |
Federal Home Loan Bank Advances, Discount | (9,132) | (12,572) | |
Hedging adjustments | 133,607 | 129,390 | |
Federal Home Loan Bank, Advances, Valuation Adjustments under Fair Value Option | [1] | 214 | 42 |
Advances | $ 77,320,323 | $ 70,405,616 | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing Within One Year of Balance Sheet Date | 0.36% | 0.40% | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing From One To Two Years of Balance Sheet Date | 0.79% | 0.54% | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing From Two To Three Years of Balance Sheet Date | 0.66% | 0.69% | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing From Three To Four Years of Balance Sheet Date | 0.65% | 0.60% | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing From Four To Five Years of Balance Sheet Date | 0.75% | 0.54% | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing After Five Years of Balance Sheet Date | 1.66% | 1.51% | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate As Of Balance Sheet Date | 0.63% | 0.60% | |
[1] | At September 30, 2015 and December 31, 2014, 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 ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Advances [Abstract] | ||
Federal Home Loan Bank Advances, Earlier of Contractual Maturity or Next Call Date, Due With in Next Rolling Twelve Months | $ 34,804,247 | $ 23,003,946 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due in Rolling Year Two | 10,479,325 | 12,159,384 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due in Rolling Year Three | 15,034,193 | 9,659,975 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due in Rolling Year Four | 9,557,844 | 12,295,893 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due in Rolling Year Five | 5,748,467 | 9,970,280 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due After Rolling Year Five | 1,579,450 | 3,209,029 |
Federal Home Loan Bank, Advances, Par Value, Total | $ 77,203,526 | $ 70,298,507 |
Advances (Advances by Year of C
Advances (Advances by Year of Contractual Maturity or Next Put/Convert Date for Putable/Convertible Advances) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Advances [Abstract] | ||
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due within One Year of Balance Sheet Date | $ 27,686,898 | $ 15,753,030 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due From One To Two Years of Balance Sheet Date | 14,392,620 | 14,663,847 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due From Two To Three Years of Balance Sheet Date | 14,994,138 | 12,115,860 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due From Three To Four Years of Balance Sheet Date | 10,396,740 | 13,649,722 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due From Four To Five Years of Balance Sheet Date | 6,462,680 | 10,715,119 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due After Five Years of Balance Sheet Date | 3,270,450 | 3,400,929 |
Federal Home Loan Bank, Advances, Par Value, Total | $ 77,203,526 | $ 70,298,507 |
Advances (Advances by Interest
Advances (Advances by Interest Rate Payment Terms) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Advances [Abstract] | |||
Federal Home Loan Bank Advances, Maturities by Interest Rate Type, Fixed Rate | [1] | $ 27,325,281 | $ 17,945,050 |
Federal Home Loan Bank Advances, Maturities by Interest Rate Type, Floating Rate | [1] | 49,878,245 | 52,353,457 |
Federal Home Loan Bank, Advances, Par Value, Total | $ 77,203,526 | $ 70,298,507 | |
[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 ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 77,203,526 | $ 70,298,507 |
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 | $ 46,553,000 | $ 49,638,000 |
Concentration Risk, Percentage, Five Percent or More Of Principal Balance | 60.00% | 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 | $ 37,300,000 | $ 41,300,000 |
Concentration Risk, Percentage, Five Percent or More Of Principal Balance | 48.00% | 59.00% |
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 | $ 9,253,000 | $ 8,338,000 |
Concentration Risk, Percentage, Five Percent or More Of Principal Balance | 12.00% | 12.00% |
Mortgage Loans Held for Portf64
Mortgage Loans Held for Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Mortgage Loans on Real Estate [Line Items] | |||
Unpaid principal balance | $ 7,789,182 | $ 6,796,004 | |
Loans and Leases Receivable, Unamortized Premiums | 206,921 | 179,540 | |
Loans and Leases Receivable, Unamortized Discounts | (2,131) | (2,460) | |
Loans and Leases Receivable, Hedging Basis Adjustment | [1] | 20,490 | 16,518 |
Loans and Leases Receivable, Gross, Consumer, Mortgage | 8,014,462 | 6,989,602 | |
Fixed rates medium-term single-family mortgages [Member] | |||
Mortgage Loans on Real Estate [Line Items] | |||
Unpaid principal balance | [2] | 1,505,964 | 1,393,525 |
Fixed rates Long-term single-family mortgages [Member] | |||
Mortgage Loans on Real Estate [Line Items] | |||
Unpaid principal balance | 6,283,218 | 5,402,479 | |
Conventional Loan [Member] | |||
Mortgage Loans on Real Estate [Line Items] | |||
Unpaid principal balance | 7,285,491 | 6,203,318 | |
Federal Housing Administration Loan [Member] | |||
Mortgage Loans on Real Estate [Line Items] | |||
Unpaid principal balance | $ 503,691 | $ 592,686 | |
[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 Portf65
Mortgage Loans Held for Portfolio (Details 2) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Union Savings Bank [Member] | |||
Participating Mortgage Loans [Line Items] | |||
Unpaid Principal Balances Greater Than Five Percent of Total | $ 2,264 | $ 1,593 | |
Percent of Total | 29.00% | 23.00% | |
PNC Bank, N.A. [Member] | |||
Participating Mortgage Loans [Line Items] | |||
Unpaid Principal Balances Greater Than Five Percent of Total | [1] | $ 894 | $ 1,074 |
Percent of Total | [1] | 11.00% | 16.00% |
Guardian Saving Bank FSB [Member] | |||
Participating Mortgage Loans [Line Items] | |||
Unpaid Principal Balances Greater Than Five Percent of Total | $ 648 | $ 406 | |
Percent of Total | 8.00% | 6.00% | |
[1] | Former member. |
Allowance for Credit Losses (De
Allowance for Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Dec. 31, 2014 | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Loans and Leases Receivable, Allowance | $ 1,715 | $ 4,919 | $ 1,715 | $ 4,919 | |||
Total recorded investment | 8,041,339 | 7,014,345 | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Balance, beginning of period | 4,919 | ||||||
Reversal of Loan Losses Expensed | 0 | $ 0 | 0 | $ (900) | |||
Balance, end of period | 1,715 | 1,715 | |||||
Conventional Loan [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,713 | 4,766 | |||||
Allowance for Credit Losses, Individually Evaluated for Impairment | 2 | 153 | |||||
Loans and Leases Receivable, Allowance | 1,701 | 5,441 | 4,919 | 7,233 | 1,715 | 4,919 | |
Recorded Investment, Collectively Evaluated for Impairment | 7,518,868 | 6,402,994 | |||||
Recorded Investment, Individually Evaluated for Impairment | 9,718 | 8,639 | |||||
Total recorded investment | $ 7,528,586 | $ 6,411,633 | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Balance, beginning of period | 1,701 | 5,441 | 4,919 | 7,233 | |||
Financing Receivable, Allowance for Credit Losses, Recovery | [1] | 14 | |||||
Charge-offs | [1] | (414) | (3,204) | (1,306) | |||
Reversal of Loan Losses Expensed | 0 | 0 | 0 | (900) | |||
Balance, end of period | $ 1,715 | $ 5,027 | $ 1,715 | $ 5,027 | |||
[1] | On January 1, 2015, the FHLB adopted the charge off provisions of the Finance Agency's Advisory Bulletin 2012-02, which require the FHLB to charge off the estimated loss portion of loans 180 days or more past due and certain loans in which the borrower has filed for bankruptcy. |
Allowance for Credit Losses Rol
Allowance for Credit Losses Rollforward of LRA (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2015USD ($) | |
Change in Lender Risk Account Balance [Roll Forward] | |
Lender Risk Account, Beginning Balance | $ 129,213 |
Lender Risk Account, Additions | 29,723 |
Lender Risk Account, Claims | (1,323) |
Lender Risk Account, Distributions | (1,487) |
Lender Risk Account, Ending Balance | $ 156,126 |
Allowance for Credit Losses Sch
Allowance for Credit Losses Schedule of Loans Outstanding and Past Due (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | $ 142,332 | $ 186,311 | |
Financing Receivable, Recorded Investment, Current | 7,899,007 | 6,828,034 | |
Total recorded investment | 8,041,339 | 7,014,345 | |
Mortgage Loans In Process Of Foreclosure | [1] | $ 31,914 | $ 46,541 |
Loans and Leases Receivable, Serious Delinquencies Ratio | [2] | 0.62% | 0.99% |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | [3] | $ 42,987 | $ 66,902 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 7,096 | 3,574 | |
Financing Receivable, Modifications, Recorded Investment | 9,718 | 8,639 | |
Conventional Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 83,289 | 105,641 | |
Financing Receivable, Recorded Investment, Current | 7,445,297 | 6,305,992 | |
Total recorded investment | 7,528,586 | 6,411,633 | |
Mortgage Loans In Process Of Foreclosure | [1] | $ 24,130 | $ 34,854 |
Loans and Leases Receivable, Serious Delinquencies Ratio | [2] | 0.44% | 0.68% |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | [3] | $ 25,986 | $ 41,857 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 7,096 | 3,574 | |
Federal Housing Administration Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 59,043 | 80,670 | |
Financing Receivable, Recorded Investment, Current | 453,710 | 522,042 | |
Total recorded investment | 512,753 | 602,712 | |
Mortgage Loans In Process Of Foreclosure | [1] | $ 7,784 | $ 11,687 |
Loans and Leases Receivable, Serious Delinquencies Ratio | [2] | 3.38% | 4.27% |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | [3] | $ 17,001 | $ 25,045 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 | |
Past due 30-59 days delinquent | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 76,804 | 91,797 | |
Past due 30-59 days delinquent | Conventional Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 43,183 | 49,053 | |
Past due 30-59 days delinquent | Federal Housing Administration Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 33,621 | 42,744 | |
Past due 60-89 days delinquent | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 16,511 | 26,478 | |
Past due 60-89 days delinquent | Conventional Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 8,090 | 13,597 | |
Past due 60-89 days delinquent | Federal Housing Administration Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 8,421 | 12,881 | |
Past due 90 days or more delinquent | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 49,017 | 68,036 | |
Past due 90 days or more delinquent | Conventional Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 32,016 | 42,991 | |
Past due 90 days or more delinquent | Federal Housing Administration Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | $ 17,001 | $ 25,045 | |
[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 Ind
Allowance for Credit Losses Individually Evaluated Impaired Loans (Details) - Conventional Loan [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | $ 9,626 | $ 9,626 | $ 5,297 | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 9,432 | 9,432 | 5,165 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 92 | 92 | 3,342 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 89 | 89 | 3,293 | ||
Impaired Financing Receivable, Related Allowance | 2 | 2 | 153 | ||
Impaired Financing Receivable, Recorded Investment | 9,718 | 9,718 | 8,639 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 9,521 | 9,521 | $ 8,458 | ||
Impaired Financing Receivable, Average Recorded Investment | 9,445 | $ 8,575 | 8,758 | $ 8,096 | |
Impaired Financing Receivable, Interest Income, Accrual Method | $ 123 | $ 111 | $ 342 | $ 315 |
Derivatives and Hedging Activ70
Derivatives and Hedging Activities Narrative (Details) $ in Thousands | Sep. 30, 2015USD ($) |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative, Net Liability Position, Aggregate Fair Value | $ 100,757 |
Collateral Already Posted, Aggregate Fair Value | 60,496 |
Additional Collateral, Aggregate Fair Value | $ 12,500 |
Derivatives and Hedging Activ71
Derivatives and Hedging Activities Derivatives in Statement of Condition (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Derivatives, Fair Value [Line Items] | |||
Notional Amount of Derivatives | $ 12,542,438 | $ 9,826,839 | |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 25,083 | 24,531 | |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 147,160 | 149,634 | |
Derivative Asset, Netting Adjustments And Cash Collateral | [1],[2] | 284 | |
Derivative Asset, Netting Adjustments And Cash Collateral | [1],[2] | (9,832) | |
Derivative Liability, Netting Adjustments And Cash Collateral | [1],[2] | (105,762) | (85,867) |
Derivative assets | 25,367 | 14,699 | |
Derivative liabilities | 41,398 | 63,767 | |
Derivative, Collateral, Cash Received And Related Accrued Interest | 107,465 | 78,755 | |
Derivative, Collateral, Cash Posted And Related Accrued interest | 1,420 | 2,720 | |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Notional Amount of Derivatives | 5,817,628 | 4,301,547 | |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 20,409 | 19,826 | |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 140,758 | 138,150 | |
Not Designated as Hedging Instrument [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Notional Amount of Derivatives | 6,724,810 | 5,525,292 | |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 4,674 | 4,705 | |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 6,402 | 11,484 | |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Notional Amount of Derivatives | 6,398,000 | 4,635,000 | |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 3,421 | 900 | |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 5,265 | 6,559 | |
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Mortgages [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Notional Amount of Derivatives | 160,810 | 451,292 | |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 1,253 | 3,799 | |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 0 | 1 | |
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Collateralized Mortgage Backed Securities [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Notional Amount of Derivatives | 166,000 | 439,000 | |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 0 | 6 | |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | $ 1,137 | $ 4,924 | |
[1] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $107,465 and $78,755 at September 30, 2015 and December 31, 2014. Cash collateral received and related accrued interest was (in thousands) $1,420 and $2,720 at September 30, 2015 and December 31, 2014. | ||
[2] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. |
Derivatives and Hedging Activ72
Derivatives and Hedging Activities Derivatives in Statement of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | $ 388 | $ 555 | $ 2,350 | $ 1,708 |
Gain (Loss) on Derivatives not designated as hedging instruments | 5,004 | (466) | 10,625 | 630 |
Net gains (losses) on derivatives and hedging activities | 5,392 | 89 | 12,975 | 2,338 |
Interest Rate Swap [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | 388 | 555 | 2,350 | 1,708 |
Gain (Loss) on Derivatives not designated as hedging instruments | 1,603 | (335) | 4,009 | 673 |
Forward Contracts [Member] | Mortgages [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on Derivatives not designated as hedging instruments | 7,516 | 1,345 | 4,625 | 7,584 |
Forward Contracts [Member] | Collateralized Mortgage Backed Securities [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on Derivatives not designated as hedging instruments | (5,411) | (1,678) | (3,670) | (7,759) |
Net Interest Settlements [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on Derivatives not designated as hedging instruments | $ 1,296 | $ 202 | $ 5,661 | $ 132 |
Derivatives and Hedging Activ73
Derivatives and Hedging Activities Derivatives in Statement of Income and Impact on Interest (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | ||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Derivative | $ (24,413) | $ 25,319 | $ (6,145) | $ 48,259 | |
Gain (Loss) on Hedged Item | 24,801 | (24,764) | 8,495 | (46,551) | |
Net Fair Value Hedge Ineffectiveness | 388 | 555 | 2,350 | 1,708 | |
Effect of Derivatives on Net Interest Income | [1] | (16,428) | (18,229) | (48,073) | (55,131) |
Amortization and Accretion of Hedged Items | (872) | (677) | (2,580) | (2,564) | |
Advances [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Derivative | (26,128) | 30,709 | (4,694) | 61,036 | |
Gain (Loss) on Hedged Item | 26,327 | (29,829) | 6,798 | (59,401) | |
Net Fair Value Hedge Ineffectiveness | 199 | 880 | 2,104 | 1,635 | |
Effect of Derivatives on Net Interest Income | [1] | (21,719) | (22,705) | (62,980) | (69,088) |
Consolidated Obligation Bonds [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Derivative | 1,715 | (5,390) | (1,451) | (12,777) | |
Gain (Loss) on Hedged Item | (1,526) | 5,065 | 1,697 | 12,850 | |
Net Fair Value Hedge Ineffectiveness | 189 | (325) | 246 | 73 | |
Effect of Derivatives on Net Interest Income | [1] | $ 5,291 | $ 4,476 | $ 14,907 | $ 13,957 |
[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) $(872) and $(677) of (amortization)/accretion related to fair value hedging activities for the three months ended September 30, 2015 and 2014 and (in thousands) $(2,580) and $(2,564) for the nine months ended September 30, 2015 and 2014. |
Derivatives and Hedging Activ74
Derivatives and Hedging Activities Offsetting of Derivative Assets and Derivative Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Offsetting Assets [Line Items] | |||
Derivative Asset, Total Gross Amount | $ 23,830 | $ 20,726 | |
Derivative Liability, Total Gross Amount | 146,023 | 144,709 | |
Derivative Asset, Netting Adjustments And Cash Collateral | [1],[2] | (9,832) | |
Derivative Asset, Netting Adjustments And Cash Collateral | [1],[2] | 284 | |
Derivative Liability, Netting Adjustments And Cash Collateral | [1],[2] | (105,762) | (85,867) |
Derivative Asset, Net Fair Value Amount, After Offsetting Adjustment | 24,114 | 10,894 | |
Derivative Liability, Net Fair Value Amount, After Offsetting Adjustment | 40,261 | 58,842 | |
Derivative Asset, Not Subject to Master Netting Arrangement | [3] | 1,253 | 3,805 |
Derivative Liability, Not Subject to Master Netting Arrangement | [3] | 1,137 | 4,925 |
Derivative assets | 25,367 | 14,699 | |
Derivative liabilities | 41,398 | 63,767 | |
Bilateral derivatives | |||
Offsetting Assets [Line Items] | |||
Derivative Asset, Total Gross Amount | 13,948 | 19,585 | |
Derivative Liability, Total Gross Amount | 114,705 | 141,352 | |
Derivative Asset, Netting Adjustments And Cash Collateral | (13,948) | (19,544) | |
Derivative Liability, Netting Adjustments And Cash Collateral | (74,444) | (82,510) | |
Derivative Asset, Net Fair Value Amount, After Offsetting Adjustment | 0 | 41 | |
Derivative Liability, Net Fair Value Amount, After Offsetting Adjustment | 40,261 | 58,842 | |
Derivative Asset, Not Subject to Master Netting Arrangement | [3] | 1,253 | 3,805 |
Derivative Liability, Not Subject to Master Netting Arrangement | [3] | 1,137 | 4,925 |
Derivative assets | 1,253 | 3,846 | |
Derivative liabilities | 41,398 | 63,767 | |
Cleared derivatives | |||
Offsetting Assets [Line Items] | |||
Derivative Asset, Total Gross Amount | 9,882 | 1,141 | |
Derivative Liability, Total Gross Amount | 31,318 | 3,357 | |
Derivative Asset, Netting Adjustments And Cash Collateral | 14,232 | 9,712 | |
Derivative Liability, Netting Adjustments And Cash Collateral | (31,318) | (3,357) | |
Derivative Asset, Net Fair Value Amount, After Offsetting Adjustment | 24,114 | 10,853 | |
Derivative Liability, Net Fair Value Amount, After Offsetting Adjustment | 0 | 0 | |
Derivative assets | 24,114 | 10,853 | |
Derivative liabilities | $ 0 | $ 0 | |
[1] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $107,465 and $78,755 at September 30, 2015 and December 31, 2014. Cash collateral received and related accrued interest was (in thousands) $1,420 and $2,720 at September 30, 2015 and December 31, 2014. | ||
[2] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. | ||
[3] | Represents mortgage delivery commitments and forward rate agreements that are not subject to an enforceable netting agreement. |
Deposits Deposits (Details)
Deposits Deposits (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Deposits [Abstract] | |||||
Interest bearing, demand and overnight | $ 652,122 | $ 652,122 | $ 624,446 | ||
Interest bearing, term | 95,900 | 95,900 | 99,600 | ||
Interest bearing, other | 7,302 | 7,302 | 5,592 | ||
Total interest-bearing | 755,324 | 755,324 | 729,638 | ||
Non-interest bearing, other | 327 | 327 | 298 | ||
Total non-interest bearing | 327 | 327 | 298 | ||
Total deposits | $ 755,651 | $ 755,651 | $ 729,936 | ||
Weighted Average Rate Interest Bearing Deposits | 0.04% | 0.03% | 0.04% | 0.03% |
Consolidated Obligations (Detai
Consolidated Obligations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | ||
Schedule of Short-term and Long-term Debt [Line Items] | ||||||
Discount Notes | $ 60,086,261 | $ 60,086,261 | $ 41,232,127 | |||
Consolidated Obligations Bonds Total | 44,142,498 | 44,142,498 | 59,216,557 | |||
Unamortized Concessions Included in Other Assets | 13,466 | 13,466 | 14,184 | |||
Amortization of Concessions Included in Consolidated Obligations Interest Expense During Period | 3,921 | $ 1,752 | 8,110 | $ 5,556 | ||
Consolidated Obligation Bonds [Member] | ||||||
Schedule of Short-term and Long-term Debt [Line Items] | ||||||
Debt, Maturities, Repayments of Principal in Twelve Months | $ 16,668,000 | $ 16,668,000 | $ 32,477,000 | |||
Debt, Maturities, Repayments of Principal in Next Twelve Months, Weighted Average Interest Rate | 0.55% | 0.55% | 0.24% | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Two | $ 6,121,750 | $ 6,121,750 | $ 6,918,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Two, Weighted Average Interest Rate | 1.17% | 1.17% | 1.19% | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Three | $ 5,629,000 | $ 5,629,000 | $ 4,594,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Three, Weighted Average Interest Rate | 1.62% | 1.62% | 1.56% | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Four | $ 3,716,000 | $ 3,716,000 | $ 4,245,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Four, Weighted Average Interest Rate | 1.84% | 1.84% | 1.79% | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Five | $ 3,513,000 | $ 3,513,000 | $ 2,647,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Five, Weighted Average Interest Rate | 2.07% | 2.07% | 2.08% | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling after Year Five | $ 8,406,000 | $ 8,406,000 | $ 8,217,000 | |||
Long-term Debt, Maturities, Repayments of Principal After Year Five, Weighted Average Interest Rate | 2.80% | 2.80% | 2.79% | |||
Index amortizing notes | $ 1,008 | $ 1,008 | $ 25,297 | |||
Index amortizing notes, Weighted average interest rate | 5.25% | 5.25% | 5.07% | |||
Debt, Gross | $ 44,054,758 | $ 44,054,758 | $ 59,123,297 | |||
Long-term Debt, Weighted Average Interest Rate | 1.43% | 1.43% | 1.00% | |||
Debt Instrument, Unamortized Premium | $ 97,754 | $ 97,754 | $ 103,477 | |||
Debt Instrument, Unamortized Discount | (26,167) | (26,167) | (25,161) | |||
Debt Valuation Adjustment for Hedging Activities | 13,607 | 13,607 | 15,304 | |||
Fair value option valuation adjustment and accrued interest | 2,546 | 2,546 | (360) | |||
Consolidated Obligations Bonds Total | 44,142,498 | 44,142,498 | 59,216,557 | |||
Non Callable [Member] | Consolidated Obligation Bonds [Member] | ||||||
Schedule of Short-term and Long-term Debt [Line Items] | ||||||
Debt, Gross | 36,398,758 | 36,398,758 | 49,976,297 | |||
Callable [Member] | Consolidated Obligation Bonds [Member] | ||||||
Schedule of Short-term and Long-term Debt [Line Items] | ||||||
Debt, Gross | 7,656,000 | 7,656,000 | 9,147,000 | |||
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 | 23,642,000 | 23,642,000 | 40,774,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Two | 5,791,750 | 5,791,750 | 5,413,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Three | 3,799,000 | 3,799,000 | 3,317,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Four | 3,010,000 | 3,010,000 | 2,685,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Five | 2,753,000 | 2,753,000 | 1,992,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Rolling after Year Five | 5,058,000 | 5,058,000 | 4,917,000 | |||
Index amortizing notes | 1,008 | 1,008 | 25,297 | |||
Discount Notes [Member] | ||||||
Schedule of Short-term and Long-term Debt [Line Items] | ||||||
Debt Instrument, Face Amount | $ 60,100,397 | $ 60,100,397 | $ 41,238,122 | |||
Short-term Debt, Weighted Average Interest Rate | [1] | 0.15% | 0.15% | 0.09% | ||
Fixed-rate [Member] | Consolidated Obligation Bonds [Member] | ||||||
Schedule of Short-term and Long-term Debt [Line Items] | ||||||
Debt, Gross | $ 35,454,758 | $ 35,454,758 | $ 31,363,297 | |||
Variable-rate [Member] | Consolidated Obligation Bonds [Member] | ||||||
Schedule of Short-term and Long-term Debt [Line Items] | ||||||
Debt, Gross | 8,465,000 | 8,465,000 | 27,610,000 | |||
Step-up [Member] | Consolidated Obligation Bonds [Member] | ||||||
Schedule of Short-term and Long-term Debt [Line Items] | ||||||
Debt, Gross | $ 135,000 | $ 135,000 | $ 150,000 | |||
[1] | Represents an implied rate without consideration of concessions. |
Affordable Housing Program (A77
Affordable Housing Program (AHP) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Affordable Housing Program [Roll Forward] | ||||
AHP Obligation, Beginning Balance | $ 98,103 | |||
AHP, Expense (Current Year Additions) | $ 6,824 | $ 7,061 | 20,866 | $ 20,412 |
AHP, Subsidy Uses, Net | (14,837) | $ (19,787) | ||
AHP Obligation, Ending Balance | $ 104,132 | $ 104,132 |
Capital (Details)
Capital (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Capital [Abstract] | ||
Risk Based Capital Required | $ 531,867 | $ 481,835 |
Risk Based Capital Actual | $ 5,200,942 | $ 5,018,567 |
Regulatory Capital Ratio, Actual | 4.70% | 4.71% |
Regulatory Capital, Required | $ 4,426,069 | $ 4,265,617 |
Regulatory Capital, Actual | $ 5,200,942 | $ 5,018,567 |
Leverage Ratio, Actual | 7.05% | 7.06% |
Leverage Capital, Required | $ 5,532,586 | $ 5,332,021 |
Leverage Capital, Actual | 7,801,413 | 7,527,851 |
Retained Earnings, Appropriated | $ 196,869 | $ 159,694 |
Capital (Mandatorily Redeemable
Capital (Mandatorily Redeemable Capital Stock) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Mandatorily Redeemable Capital Stock [Roll Forward] | ||
Balance at beginning period | $ 62,963 | |
Net Shares Reclassified to Mandatorily Redeemable Capital Stock, Value | 23,531 | $ 17,110 |
Repayments of Mandatory Redeemable Capital Securities | (27,406) | $ (23,410) |
Balance at end of period | $ 59,088 |
Capital (Mandatorily Redeemab80
Capital (Mandatorily Redeemable Capital Stock by Contractual Year of Redemption) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Capital [Abstract] | |||
Due in 1 year or less | $ 0 | $ 130 | |
Due after 1 year through 2 years | 0 | 0 | |
Due after 2 years through 3 years | 45 | 0 | |
Due after 3 years through 4 years | 2,265 | 55 | |
Due after 4 years through 5 years | 3,101 | 2,278 | |
Past contractual redemption date due to remaining activity | [1] | 53,677 | 60,500 |
Total par value | $ 59,088 | $ 62,963 | |
[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 Comprehensi81
Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Accumulated other comprehensive loss, beginning of period | $ (16,596) | |||
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | $ 17 | $ 28 | 54 | $ 130 |
Total other comprehensive income adjustments | 743 | 785 | 2,016 | 1,513 |
Accumulated other comprehensive loss, end of period | (14,580) | (14,580) | ||
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 | 13 | (19) | (24) | (121) |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | 17 | 28 | 54 | 130 |
Amortization - Pension and postretirement benefits | 0 | 0 | 0 | 0 |
Total other comprehensive income adjustments | 17 | 28 | 54 | 130 |
Accumulated other comprehensive loss, end of period | 30 | 9 | 30 | 9 |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Accumulated other comprehensive loss, beginning of period | (15,336) | (8,295) | (16,572) | (8,921) |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | 0 | 0 | 0 | 0 |
Amortization - Pension and postretirement benefits | 726 | 757 | 1,962 | 1,383 |
Total other comprehensive income adjustments | 726 | 757 | 1,962 | 1,383 |
Accumulated other comprehensive loss, end of period | (14,610) | (7,538) | (14,610) | (7,538) |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Accumulated other comprehensive loss, beginning of period | (15,323) | (8,314) | (16,596) | (9,042) |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | 17 | 28 | 54 | 130 |
Amortization - Pension and postretirement benefits | 726 | 757 | 1,962 | 1,383 |
Total other comprehensive income adjustments | 743 | 785 | 2,016 | 1,513 |
Accumulated other comprehensive loss, end of period | $ (14,580) | $ (7,529) | $ (14,580) | $ (7,529) |
Pension and Postretirement Be82
Pension and Postretirement Benefit Plans Narrative (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Pension and Postretirement Benefit Plans [Abstract] | ||||
Multiemployer Plan, Period Contributions | $ 1,500,000 | $ 1,504,000 | $ 4,478,000 | $ 4,562,000 |
Defined Contribution Plan, Cost Recognized | $ 218,000 | $ 198,000 | $ 787,000 | $ 755,000 |
Pension and Postretirement Be83
Pension and Postretirement Benefit Plans Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Supplemental Employee Retirement Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Defined Benefit Plan, Service Cost | $ 186 | $ 178 | $ 501 | $ 393 |
Defined Benefit Plan, Interest Cost | 321 | 380 | 917 | 926 |
Defined Benefit Plan, Amortization of net loss | 710 | 757 | 1,912 | 1,383 |
Defined Benefit Plan, Net Periodic Benefit Cost | 1,217 | 1,315 | 3,330 | 2,702 |
Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Defined Benefit Plan, Service Cost | 19 | 9 | 56 | 25 |
Defined Benefit Plan, Interest Cost | 51 | 28 | 152 | 85 |
Defined Benefit Plan, Amortization of net loss | 16 | 0 | 50 | 0 |
Defined Benefit Plan, Net Periodic Benefit Cost | $ 86 | $ 37 | $ 258 | $ 110 |
Segment Information (Details)
Segment Information (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($)Institutions | Sep. 30, 2014USD ($) | Dec. 31, 2014USD ($) | |
Segment Reporting Information [Line Items] | |||||
Number of Operating Segments | Institutions | 2 | ||||
Net interest income | $ 77,022 | $ 83,123 | $ 239,240 | $ 237,071 | |
Reversal of Loan Losses Expensed | 0 | 0 | 0 | (900) | |
Interest Income (Expense), after Provision for Loan Loss | 77,022 | 83,123 | 239,240 | 237,971 | |
Other income | 9,374 | 3,781 | 23,040 | 13,849 | |
Other expenses | 18,820 | 17,418 | 55,538 | 51,179 | |
Income before assessments | 67,576 | 69,486 | 206,742 | 200,641 | |
Affordable Housing Program Assessments | 6,824 | 7,061 | 20,866 | 20,412 | |
Net income | 60,752 | 62,425 | 185,876 | 180,229 | |
Average assets | 104,377,987 | 99,224,240 | 102,714,208 | 100,959,923 | |
Total assets | 110,651,721 | 99,966,602 | 110,651,721 | 99,966,602 | $ 106,640,419 |
Traditional Member Finance [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 173,902 | ||||
Reversal of Loan Losses Expensed | 0 | ||||
Interest Income (Expense), after Provision for Loan Loss | 63,021 | 57,837 | 185,527 | 173,902 | |
Other income | 7,268 | 4,114 | 22,083 | 14,022 | |
Other expenses | 16,115 | 14,915 | 47,828 | 44,252 | |
Income before assessments | 54,174 | 47,036 | 159,782 | 143,672 | |
Affordable Housing Program Assessments | 5,484 | 4,816 | 16,171 | 14,715 | |
Net income | 48,690 | 42,220 | 143,611 | 128,957 | |
Average assets | 96,494,208 | 92,409,851 | 95,206,839 | 94,195,690 | |
Total assets | 102,611,201 | 93,037,422 | 102,611,201 | 93,037,422 | |
Mortgage Purchase Program [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 63,169 | ||||
Reversal of Loan Losses Expensed | (900) | ||||
Interest Income (Expense), after Provision for Loan Loss | 14,001 | 25,286 | 53,713 | 64,069 | |
Other income | 2,106 | (333) | 957 | (173) | |
Other expenses | 2,705 | 2,503 | 7,710 | 6,927 | |
Income before assessments | 13,402 | 22,450 | 46,960 | 56,969 | |
Affordable Housing Program Assessments | 1,340 | 2,245 | 4,695 | 5,697 | |
Net income | 12,062 | 20,205 | 42,265 | 51,272 | |
Average assets | 7,883,779 | 6,814,389 | 7,507,369 | 6,764,233 | |
Total assets | $ 8,040,520 | $ 6,929,180 | $ 8,040,520 | $ 6,929,180 |
Fair Value Disclosures Fair V85
Fair Value Disclosures Fair Value Summary (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |||
Assets | |||||||||
Cash and Due from Banks | $ 971,159 | $ 3,109,970 | |||||||
Trading securities | 1,206 | 1,341 | |||||||
Available-for-sale securities | 1,000,030 | 1,349,977 | |||||||
Held-to-maturity Securities | [1] | 15,087,225 | 14,712,271 | ||||||
Held-to-maturity Securities, Fair Value | 15,219,796 | 14,794,326 | |||||||
Accrued interest receivable | 90,158 | 81,384 | |||||||
Derivative assets | 25,367 | 14,699 | |||||||
Derivative Asset, Netting Adjustments And Cash Collateral | [2],[3] | 284 | |||||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | [2],[3] | 9,832 | |||||||
Advances, Fair Value Disclosure | 15,214 | [4] | $ 15,129 | 15,042 | [4] | $ 9,968 | $ 0 | $ 0 | |
Liabilities | |||||||||
Mandatorily redeemable capital stock | 59,088 | 62,963 | |||||||
Accrued Interest Payable, Fair Value Disclosure | 126,037 | 114,781 | |||||||
Derivative liabilities | 41,398 | 63,767 | |||||||
Derivative Liability, Netting Adjustments And Cash Collateral | [2],[3] | (105,762) | (85,867) | ||||||
Consolidated Obligation Bonds [Member] | |||||||||
Liabilities | |||||||||
Consolidated Obligations, Bonds | 5,757,546 | $ 5,623,179 | 4,209,640 | $ 3,680,329 | $ 2,780,023 | $ 4,018,370 | |||
Fair Value, Inputs, Level 1 [Member] | |||||||||
Assets | |||||||||
Cash and Due from Banks | 971,159 | 3,109,970 | |||||||
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 | [6] | |||||
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 | 59,088 | 62,963 | |||||||
Accrued Interest Payable, Fair Value Disclosure | 0 | 0 | |||||||
Derivative liabilities | 0 | 0 | |||||||
Fair Value, Inputs, Level 1 [Member] | Loan Origination Commitments [Member] | |||||||||
Other [Abstract] | |||||||||
Commitments, Fair Value Disclosure | 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 | [7] | 0 | [8] | |||||
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 | 153 | 119 | |||||||
Securities purchased under resale agreements | 2,724,000 | 3,343,002 | |||||||
Federal funds sold | 5,390,000 | 6,600,000 | |||||||
Trading securities | 1,206 | 1,341 | |||||||
Available-for-sale securities | 1,000,030 | 1,349,977 | |||||||
Held-to-maturity Securities, Fair Value | 15,219,796 | 14,794,326 | |||||||
Advances | 77,275,431 | [5] | 70,279,438 | [6] | |||||
Mortgage loans held for portfolio, net | 8,187,031 | 7,178,047 | |||||||
Accrued interest receivable | 90,158 | 81,384 | |||||||
Derivative assets | 25,083 | 24,531 | |||||||
Liabilities | |||||||||
Deposits | 755,638 | 729,782 | |||||||
Mandatorily redeemable capital stock | 0 | 0 | |||||||
Accrued Interest Payable, Fair Value Disclosure | 126,037 | 114,781 | |||||||
Derivative liabilities | 147,160 | 149,634 | |||||||
Fair Value, Inputs, Level 2 [Member] | Loan Origination Commitments [Member] | |||||||||
Other [Abstract] | |||||||||
Commitments, Fair Value Disclosure | (14) | ||||||||
Fair Value, Inputs, Level 2 [Member] | Financial Standby Letter of Credit [Member] | |||||||||
Other [Abstract] | |||||||||
Commitments, Fair Value Disclosure | 756 | 1,381 | |||||||
Fair Value, Inputs, Level 2 [Member] | Consolidated Obligation Bonds [Member] | |||||||||
Liabilities | |||||||||
Consolidated Obligations, Bonds | 44,632,920 | [7] | 59,496,247 | [8] | |||||
Fair Value, Inputs, Level 2 [Member] | Discount Notes [Member] | |||||||||
Liabilities | |||||||||
Consolidated Obligations, Discount Notes | 60,080,868 | 41,224,739 | |||||||
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 | [6] | |||||
Mortgage loans held for portfolio, net | 32,086 | 41,151 | |||||||
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] | Loan Origination Commitments [Member] | |||||||||
Other [Abstract] | |||||||||
Commitments, Fair Value Disclosure | 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 | [7] | 0 | [8] | |||||
Fair Value, Inputs, Level 3 [Member] | Discount Notes [Member] | |||||||||
Liabilities | |||||||||
Consolidated Obligations, Discount Notes | 0 | 0 | |||||||
Carrying Value | |||||||||
Assets | |||||||||
Cash and Due from Banks | 971,159 | 3,109,970 | |||||||
Interest-bearing deposits | 153 | 119 | |||||||
Securities purchased under resale agreements | 2,724,000 | 3,343,000 | |||||||
Federal funds sold | 5,390,000 | 6,600,000 | |||||||
Trading securities | 1,206 | 1,341 | |||||||
Available-for-sale securities | 1,000,030 | 1,349,977 | |||||||
Held-to-maturity Securities | 15,087,225 | 14,712,271 | |||||||
Advances | 77,320,323 | [5] | 70,405,616 | [6] | |||||
Mortgage loans held for portfolio, net | 8,012,747 | 6,984,683 | |||||||
Accrued interest receivable | 90,158 | 81,384 | |||||||
Derivative assets | 25,367 | 14,699 | |||||||
Liabilities | |||||||||
Deposits | 755,651 | 729,936 | |||||||
Mandatorily redeemable capital stock | 59,088 | 62,963 | |||||||
Accrued Interest Payable, Fair Value Disclosure | 126,037 | 114,781 | |||||||
Derivative liabilities | 41,398 | 63,767 | |||||||
Carrying Value | Loan Origination Commitments [Member] | |||||||||
Other [Abstract] | |||||||||
Commitments, Fair Value Disclosure | 0 | ||||||||
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 | 44,142,498 | [7] | 59,216,557 | [8] | |||||
Carrying Value | Discount Notes [Member] | |||||||||
Liabilities | |||||||||
Consolidated Obligations, Discount Notes | 60,086,261 | 41,232,127 | |||||||
Fair Value | |||||||||
Assets | |||||||||
Cash and Due from Banks | 971,159 | 3,109,970 | |||||||
Interest-bearing deposits | 153 | 119 | |||||||
Securities purchased under resale agreements | 2,724,000 | 3,343,002 | |||||||
Federal funds sold | 5,390,000 | 6,600,000 | |||||||
Trading securities | 1,206 | 1,341 | |||||||
Available-for-sale securities | 1,000,030 | 1,349,977 | |||||||
Held-to-maturity Securities, Fair Value | 15,219,796 | 14,794,326 | |||||||
Advances | 77,275,431 | [5] | 70,279,438 | [6] | |||||
Mortgage loans held for portfolio, net | 8,219,117 | 7,219,198 | |||||||
Accrued interest receivable | 90,158 | 81,384 | |||||||
Derivative assets | 25,367 | 14,699 | |||||||
Liabilities | |||||||||
Deposits | 755,638 | 729,782 | |||||||
Mandatorily redeemable capital stock | 59,088 | 62,963 | |||||||
Accrued Interest Payable, Fair Value Disclosure | 126,037 | 114,781 | |||||||
Derivative liabilities | 41,398 | 63,767 | |||||||
Fair Value | Loan Origination Commitments [Member] | |||||||||
Other [Abstract] | |||||||||
Commitments, Fair Value Disclosure | (14) | ||||||||
Fair Value | Financial Standby Letter of Credit [Member] | |||||||||
Other [Abstract] | |||||||||
Commitments, Fair Value Disclosure | 756 | 1,381 | |||||||
Fair Value | Consolidated Obligation Bonds [Member] | |||||||||
Liabilities | |||||||||
Consolidated Obligations, Bonds | 44,632,920 | [7] | 59,496,247 | [8] | |||||
Fair Value | Discount Notes [Member] | |||||||||
Liabilities | |||||||||
Consolidated Obligations, Discount Notes | $ 60,080,868 | $ 41,224,739 | |||||||
[1] | Fair values: $15,219,796 and $14,794,326 at September 30, 2015 and December 31, 2014, respectively. | ||||||||
[2] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $107,465 and $78,755 at September 30, 2015 and December 31, 2014. Cash collateral received and related accrued interest was (in thousands) $1,420 and $2,720 at September 30, 2015 and December 31, 2014. | ||||||||
[3] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. | ||||||||
[4] | At September 30, 2015 and December 31, 2014, none of the Advances were 90 days or more past due or had been placed on non-accrual status. | ||||||||
[5] | Includes (in thousands) $15,214 of Advances recorded under the fair value option at September 30, 2015. | ||||||||
[6] | Includes (in thousands) $15,042 of Advances recorded under the fair value option at December 31, 2014. | ||||||||
[7] | Includes (in thousands) $5,757,546 of Consolidated Obligation Bonds recorded under the fair value option at September 30, 2015. | ||||||||
[8] | Includes (in thousands) $4,209,640 of Consolidated Obligation Bonds recorded under the fair value option at December 31, 2014. |
Fair Value Disclosures Fair V86
Fair Value Disclosures Fair Value Measured on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
Trading securities | $ 1,206 | $ 1,341 | |||||||
Available-for-sale securities | 1,000,030 | 1,349,977 | |||||||
Advances, Fair Value Disclosure | 15,214 | [1] | $ 15,129 | 15,042 | [1] | $ 9,968 | $ 0 | $ 0 | |
Derivative assets | 25,367 | 14,699 | |||||||
Derivative Asset, Netting Adjustments And Cash Collateral | [2],[3] | 284 | |||||||
Derivative Asset, Netting Adjustments And Cash Collateral | [2],[3] | (9,832) | |||||||
Derivative liabilities | 41,398 | 63,767 | |||||||
Derivative Liability, Netting Adjustments And Cash Collateral | [2],[3] | (105,762) | (85,867) | ||||||
Consolidated Obligation Bonds [Member] | |||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
Consolidated Obligations, Bonds | 5,757,546 | $ 5,623,179 | 4,209,640 | $ 3,680,329 | $ 2,780,023 | $ 4,018,370 | |||
Single Family, Mortgage-backed Securities, Other US Obligations [Member] | |||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
Trading securities | [4] | 1,206 | 1,341 | ||||||
Certificates of Deposit [Member] | |||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
Available-for-sale securities | 1,000,030 | 1,349,977 | |||||||
Fair Value, Measurements, Recurring [Member] | |||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
Advances, Fair Value Disclosure | 15,214 | 15,042 | |||||||
Derivative Asset, Netting Adjustments And Cash Collateral | [5] | 284 | |||||||
Derivative Asset, Netting Adjustments And Cash Collateral | [5] | (9,832) | |||||||
Derivative Liability, Netting Adjustments And Cash Collateral | [5] | (105,762) | (85,867) | ||||||
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 | 5,757,546 | 4,209,640 | |||||||
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | |||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
Derivative Asset, Netting Adjustments And Cash Collateral | [5] | 284 | |||||||
Derivative Asset, Netting Adjustments And Cash Collateral | [5] | (9,832) | |||||||
Derivative Liability, Netting Adjustments And Cash Collateral | [5] | (105,762) | (85,867) | ||||||
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 | |||||||
Mortgage loans held for portfolio, net | 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 | [6] | 0 | [7] | |||||
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 | 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 | ||||||||
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 | ||||||||
Derivative liabilities | 0 | 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 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
Mortgage loans held for portfolio, net | 0 | ||||||||
Fair Value, Inputs, Level 2 [Member] | |||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
Trading securities | 1,206 | 1,341 | |||||||
Available-for-sale securities | 1,000,030 | 1,349,977 | |||||||
Derivative assets | 25,083 | 24,531 | |||||||
Derivative liabilities | 147,160 | 149,634 | |||||||
Mortgage loans held for portfolio, net | 8,187,031 | 7,178,047 | |||||||
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 | 44,632,920 | [6] | 59,496,247 | [7] | |||||
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 | 15,214 | 15,042 | |||||||
Derivative assets | 25,083 | 24,531 | |||||||
Total assests at fair value | 1,041,533 | 1,390,891 | |||||||
Derivative liabilities | 147,160 | 149,634 | |||||||
Total liabilities at fair value | 5,904,706 | 4,359,274 | |||||||
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 | 5,757,546 | 4,209,640 | |||||||
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 | 23,830 | 20,726 | |||||||
Derivative liabilities | 146,023 | 144,709 | |||||||
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 | 1,253 | 3,799 | |||||||
Derivative liabilities | 1 | ||||||||
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 | ||||||||
Derivative liabilities | 1,137 | 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 | 1,206 | 1,341 | |||||||
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 | 1,000,030 | 1,349,977 | |||||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
Mortgage loans held for portfolio, net | 0 | ||||||||
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 | |||||||
Mortgage loans held for portfolio, net | 32,086 | 41,151 | |||||||
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 | [6] | 0 | [7] | |||||
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 | 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 | ||||||||
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 | ||||||||
Derivative liabilities | 0 | 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, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
Mortgage loans held for portfolio, net | 6,396 | ||||||||
Fair Value | |||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
Trading securities | 1,206 | 1,341 | |||||||
Available-for-sale securities | 1,000,030 | 1,349,977 | |||||||
Derivative assets | 25,367 | 14,699 | |||||||
Derivative liabilities | 41,398 | 63,767 | |||||||
Mortgage loans held for portfolio, net | 8,219,117 | 7,219,198 | |||||||
Fair Value | Consolidated Obligation Bonds [Member] | |||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
Consolidated Obligations, Bonds | 44,632,920 | [6] | 59,496,247 | [7] | |||||
Fair Value | Fair Value, Measurements, Recurring [Member] | |||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
Derivative assets | 25,367 | 14,699 | |||||||
Total assests at fair value | 1,041,817 | 1,381,059 | |||||||
Derivative liabilities | 41,398 | 63,767 | |||||||
Total liabilities at fair value | 5,798,944 | 4,273,407 | |||||||
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 | 24,114 | 10,894 | |||||||
Derivative liabilities | 40,261 | 58,842 | |||||||
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 | 1,253 | 3,799 | |||||||
Derivative liabilities | 1 | ||||||||
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 | ||||||||
Derivative liabilities | 1,137 | 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 | 1,206 | 1,341 | |||||||
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 | 1,000,030 | $ 1,349,977 | |||||||
Fair Value | Fair Value, Measurements, Nonrecurring [Member] | |||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
Mortgage loans held for portfolio, net | $ 6,396 | ||||||||
[1] | At September 30, 2015 and December 31, 2014, 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 FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $107,465 and $78,755 at September 30, 2015 and December 31, 2014. Cash collateral received and related accrued interest was (in thousands) $1,420 and $2,720 at September 30, 2015 and December 31, 2014. | ||||||||
[3] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. | ||||||||
[4] | Consists of Government National Mortgage Association (Ginnie Mae) mortgage-backed securities. | ||||||||
[5] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. | ||||||||
[6] | Includes (in thousands) $5,757,546 of Consolidated Obligation Bonds recorded under the fair value option at September 30, 2015. | ||||||||
[7] | Includes (in thousands) $4,209,640 of Consolidated Obligation Bonds recorded under the fair value option at December 31, 2014. |
Fair Value Disclosures Fair V87
Fair Value Disclosures Fair Value Option (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |||
Fair Value, Option, Quantitative Disclosures [Roll Forward] | ||||||
Advances, Fair Value Disclosure | $ 15,129 | $ 0 | $ 15,042 | [1] | $ 0 | |
Fair Value Option, Transactions Elected for Fair Value Option, Assets | 0 | 10,000 | 0 | 10,000 | ||
Fair Value Option, Maturities and Terminations, Assets | 0 | 0 | 0 | 0 | ||
Net gains (losses) on instruments held under the fair value option | (101) | (159) | (1,711) | 1,121 | ||
Fair Value Option, Change in Accrued Interest, Assets | 0 | 12 | (1) | 12 | ||
Advances, Fair Value Disclosure | 15,214 | [1] | 9,968 | 15,214 | [1] | 9,968 |
Fair Value Option, Liabilities, Quantitative Disclosures [Roll Forward] | ||||||
Fair Value Option, Transactions Elected for Fair Value Option, Liabilities | (2,045,000) | (2,150,000) | (7,807,000) | (4,915,000) | ||
Fair Value Option, Maturities and Terminations, Liabilities | 1,910,000 | 1,250,000 | 6,262,000 | 5,250,000 | ||
Net gains (losses) on instruments held under the fair value option | (101) | (159) | (1,711) | 1,121 | ||
Fair Value Option, Change in Accrued Interest, Liabilities | 819 | (191) | (1,022) | 1,876 | ||
Advances [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Roll Forward] | ||||||
Net gains (losses) on instruments held under the fair value option | 85 | (44) | 173 | (44) | ||
Fair Value Option, Liabilities, Quantitative Disclosures [Roll Forward] | ||||||
Net gains (losses) on instruments held under the fair value option | 85 | (44) | 173 | (44) | ||
Consolidated Obligation Bonds [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Roll Forward] | ||||||
Net gains (losses) on instruments held under the fair value option | (186) | (115) | (1,884) | 1,165 | ||
Fair Value Option, Liabilities, Quantitative Disclosures [Roll Forward] | ||||||
Net gains (losses) on instruments held under the fair value option | (186) | (115) | (1,884) | 1,165 | ||
Consolidated Obligation Bonds [Member] | ||||||
Fair Value Option, Liabilities, Quantitative Disclosures [Roll Forward] | ||||||
Debt Instrument, Fair Value Disclosure | (5,623,179) | (2,780,023) | (4,209,640) | (4,018,370) | ||
Debt Instrument, Fair Value Disclosure | $ (5,757,546) | $ (3,680,329) | $ (5,757,546) | $ (3,680,329) | ||
[1] | At September 30, 2015 and December 31, 2014, none of the Advances were 90 days or more past due or had been placed on non-accrual status. |
Fair Value Disclosures Fair V88
Fair Value Disclosures Fair Value Impact on Financial Performance (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Interest Income | $ 237,953 | $ 228,352 | $ 697,244 | $ 683,466 |
Interest Expense | (160,931) | (145,229) | (458,004) | (446,395) |
Net gains (losses) on instruments held under the fair value option | (101) | (159) | (1,711) | 1,121 |
Advances [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Interest Income | 65 | 19 | 191 | 19 |
Net gains (losses) on instruments held under the fair value option | 85 | (44) | 173 | (44) |
Fair Value Option, Total Change in Fair Value Included in Earnings | 150 | (25) | 364 | (25) |
Consolidated Obligation Bonds [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Interest Expense | (3,256) | (1,616) | (10,977) | (4,055) |
Net gains (losses) on instruments held under the fair value option | (186) | (115) | (1,884) | 1,165 |
Fair Value Option, Total Change in Fair Value Included in Earnings | $ (3,442) | $ (1,731) | $ (12,861) | $ (2,890) |
Fair Value Disclosures Fair V89
Fair Value Disclosures Fair Value Difference Between Fair Value and Remaining Contractual Principal Balance Outstanding (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||||||||
Fair Value Option, Principal Balance, Assets | [1] | $ 15,000 | $ 15,000 | ||||||
Advances, Fair Value Disclosure | 15,214 | [1] | $ 15,129 | 15,042 | [1] | $ 9,968 | $ 0 | $ 0 | |
Federal Home Loan Bank, Advances, Valuation Adjustments under Fair Value Option | [1] | 214 | 42 | ||||||
Consolidated Obligation Bonds [Member] | |||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||||||||
Aggregate Unpaid Principal Balance | 5,755,000 | 4,210,000 | |||||||
Aggregate Fair Value | 5,757,546 | $ 5,623,179 | 4,209,640 | $ 3,680,329 | $ 2,780,023 | $ 4,018,370 | |||
Fair value option valuation adjustment and accrued interest | $ 2,546 | $ (360) | |||||||
[1] | At September 30, 2015 and December 31, 2014, none of the Advances were 90 days or more past due or had been placed on non-accrual status. |
Commitments and Contingencies90
Commitments and Contingencies (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Standby Letters of Credit [Member] | |||
Loss Contingencies [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | $ 17,462,812 | $ 17,233,206 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 131,659 | 546,385 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 17,594,471 | 17,779,591 | |
Financial Standby Letter of Credit [Member] | |||
Loss Contingencies [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 89,495 | 37,490 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 39,745 | 149,705 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 129,240 | 187,195 | |
Loan Origination Commitments [Member] | |||
Loss Contingencies [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 3,000 | 0 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 0 | 0 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 3,000 | 0 | |
Forward Contracts [Member] | Mortgages [Member] | |||
Loss Contingencies [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 160,810 | 451,292 | |
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 | 160,810 | 451,292 | |
Consolidated Obligation Bonds [Member] | |||
Loss Contingencies [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | [1],[2] | 270,000 | 17,000 |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | [1],[2] | 0 | 0 |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | [1],[2] | 270,000 | 17,000 |
Consolidated Obligation Bonds [Member] | Interest Rate Swap [Member] | |||
Loss Contingencies [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 15,000 | 17,000 | |
Discount Notes [Member] | |||
Loss Contingencies [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | [1] | 0 | 5,000 |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | [1] | 0 | 0 |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | [1] | $ 0 | $ 5,000 |
[1] | Expiration is based on settlement period rather than underlying contractual maturity of Consolidated Obligations. | ||
[2] | Of the total unsettled Consolidated Bonds, $15,000 and $17,000 (in thousands) were hedged with associated interest rate swaps at September 30, 2015 and December 31, 2014, respectively. |
Commitments and Contingencies L
Commitments and Contingencies Legal Proceedings (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2008 | May. 01, 2010 | |
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 | $ 65.8 | |
Percent Over LIBOR That Settlement Demand Sought by Lehman Bankruptcy Estate is Accruing Interest | 14.50% |
Transactions with Other FHLBa92
Transactions with Other FHLBanks (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Schedule of Other Transactions [Line Items] | ||
Proceeds from Bonds Transferred from Other Federal Home Loan Banks | $ 0 | $ 0 |
Payments for Bonds Transferred to Other Federal Home Loan Banks | 0 | 0 |
Other FHLBanks [Member] | ||
Schedule of Other Transactions [Line Items] | ||
Loans Receivable, Average Outstanding Amount | 0 | 586 |
Other FHLBanks [Member] | ||
Schedule of Other Transactions [Line Items] | ||
Short-term Debt, Average Outstanding Amount | $ 0 | $ 0 |
Transactions with Stockholder93
Transactions with Stockholders (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Schedule of Other Transactions [Line Items] | |||
Advances | $ 77,203,526 | $ 70,298,507 | |
Loans And Leases Receivable, Unpaid Principal Balance | 7,789,182 | 6,796,004 | |
Director [Member] | |||
Schedule of Other Transactions [Line Items] | |||
Advances | $ 3,358,000 | $ 2,929,000 | |
Federal Home Loan Bank Advances, Percent of Principal | [1] | 4.30% | 4.20% |
Loans And Leases Receivable, Unpaid Principal Balance | $ 180,000 | $ 154,000 | |
Federal Home Loan Bank, Mortgage Purchase Program, Unpaid Principal Balance, Percent of Total | [1] | 2.30% | 2.30% |
Regulatory Capital Stock, Value | $ 232,000 | $ 225,000 | |
Regulatory Capital Stock, Percent of Total | [1] | 5.20% | 5.20% |
[1] | Percentage of total principal (Advances), unpaid principal balance (MPP), and regulatory capital stock. |
Transactions with Stockholder94
Transactions with Stockholders (Concentrations) (Details) $ in Thousands | Sep. 30, 2015USD ($)Banks | Dec. 31, 2014USD ($) |
Concentration Risk [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 77,203,526 | $ 70,298,507 |
JPMorgan Chase Bank National Association [Member] | Capital Stock Ownership By Third Party [Member] | ||
Concentration Risk [Line Items] | ||
Regulatory Capital Stock, Value | $ 1,533,000 | $ 1,533,000 |
Concentration Risk, Percentage | 34.00% | 35.00% |
JPMorgan Chase Bank National Association [Member] | Advances to Members and Former Members [Member] | ||
Concentration Risk [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 37,300,000 | $ 41,300,000 |
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 | $ 475,000 |
Concentration Risk, Percentage | 11.00% | 11.00% |
U.S. Bank, N.A. [Member] | Advances to Members and Former Members [Member] | ||
Concentration Risk [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 9,253,000 | $ 8,338,000 |
U.S. Bank, N.A. [Member] | Mortgage Purchase Program [Member] | ||
Concentration Risk [Line Items] | ||
Federal Home Loan Bank, Mortgage Purchase Program, Unpaid Principal Balance | 34,000 | 38,000 |
Fifth Third Bank [Member] | Capital Stock Ownership By Third Party [Member] | ||
Concentration Risk [Line Items] | ||
Regulatory Capital Stock, Value | $ 248,000 | $ 248,000 |
Concentration Risk, Percentage | 6.00% | 6.00% |
Fifth Third Bank [Member] | Advances to Members and Former Members [Member] | ||
Concentration Risk [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 3,470,000 | $ 24,000 |
Fifth Third Bank [Member] | Mortgage Purchase Program [Member] | ||
Concentration Risk [Line Items] | ||
Federal Home Loan Bank, Mortgage Purchase Program, Unpaid Principal Balance | $ 3,000 | $ 3,000 |
Kentucky Housing Corporation, Ohio Housing Finance Agency, Tennessee Housing Development Agency [Member] | ||
Concentration Risk [Line Items] | ||
Number of Relationships With Non Member Affiliates | Banks | 3 |