Federal Home Loan Bank of Pittsburgh 10-Q 6 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Entity Information [Line Items]
Entity Registrant Name	Federal Home Loan Bank of Pittsburgh
Entity Central Index Key	1,330,399
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		34,039,624

Statements of Income

Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest income:
Advances	$ 81,632	$ 62,021	$ 155,373	$ 121,994
Prepayment fees on advances, net	248	1,810	1,316	4,901
Interest-bearing deposits	73	97	152	180
Securities purchased under agreements to resell	180	8	341	21
Federal funds sold	1,487	954	2,866	1,659
Trading securities	2,215	1,929	4,212	3,767
Available-for-sale (AFS) securities	37,457	34,949	74,690	67,833
Held-to-maturity (HTM) securities	16,325	19,256	33,028	39,226
Mortgage loans held for portfolio	29,719	32,866	60,475	66,230
Total interest income	169,336	153,890	332,453	305,811
Interest expense:
Consolidated obligations - discount notes	10,283	5,564	19,385	11,600
Consolidated obligations - bonds	77,913	82,480	156,336	166,005
Mandatorily redeemable capital stock	7	20	8	34
Deposits	57	57	112	112
Other borrowings	3	1	7	4
Total interest expense	88,263	88,122	175,848	177,755
Net interest income	81,073	65,768	156,605	128,056
Provision (benefit) for credit losses	278	411	(183)	(3,462)
Net interest income after provision (benefit) for credit losses	80,795	65,357	156,788	131,518
Other noninterest income (loss):
Total OTTI losses (Note 5)	(1,509)	0	(1,509)	0
OTTI losses reclassified to AOCI (Note 5)	1,026	0	1,026	0
Net OTTI losses, credit portion (Note 5)	(483)	0	(483)	0
Net gains (losses) on trading securities (Note 2)	(10,133)	6,789	(3,356)	16,581
Net gains (losses) on derivatives and hedging activities (Note 9)	29,133	(9,503)	21,561	(18,702)
Gains on litigation settlements, net	0	0	15,263	36,610
Standby letters of credit fees	7,005	3,941	12,954	7,963
Other, net	708	1,256	1,274	1,705
Total other noninterest income	26,230	2,483	47,213	44,157
Noninterest Expense [Abstract]
Compensation and benefits	9,077	8,674	19,398	19,496
Other operating	5,833	7,618	11,099	13,722
Finance Agency	1,167	984	2,547	2,233
Office of Finance	1,356	981	2,343	1,874
Total other expense	17,433	18,257	35,387	37,325
Income before assessments	89,592	49,583	168,614	138,350
Affordable Housing Program (AHP) assessment	8,960	4,960	16,862	13,838
Net Income	$ 80,632	$ 44,623	$ 151,752	$ 124,512
Weighted avg shares outstanding (excludes mandatorily redeemable capital stock)	31,884	28,075	30,632	28,570
Basic and diluted earnings per share	$ 2.53	$ 1.59	$ 4.95	$ 4.36
Dividends per share	$ 1.09	$ 1.02	$ 4.39	$ 1.59

Statements of Comprehensive Inc

Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net Income	$ 80,632	$ 44,623	$ 151,752	$ 124,512
Net unrealized gains (losses) on AFS securities:
Net unrealized gains (losses) on AFS	(24,755)	30,696	(2,267)	55,224
Net non-credit portion of OTTI gains (losses) on AFS securities:
Non-credit OTTI losses transferred from HTM securities	(1,026)	0	(1,026)	0
Net change in fair value of OTTI securities	(11,236)	17,550	(9,175)	18,993
Total net non-credit portion of OTTI gains (losses) on AFS securities	12,262	(17,550)	10,201	(18,993)
Net non-credit portion of OTTI losses on HTM securities:
Non-credit portion	(1,026)	0	(1,026)	0
Transfer of non-credit portion from HTM to AFS securities	1,026	0	1,026	0
Total net non-credit portion of OTTI losses on HTM securities	0	0	0	0
Reclassification of net losses (gains) included in net income relating to hedging activities	(4)	(1)	(12)	(1)
Pension and post-retirement benefits	82	40	164	79
Total other comprehensive income (loss)	(36,939)	48,285	(12,316)	74,295
Total Comprehensive Income	$ 43,693	$ 92,908	$ 139,436	$ 198,807

Statements of Condition

Statements of Condition - Class of Stock [Domain] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
ASSETS
Cash and due from banks	$ 5,377,254	$ 2,451,131
Interest-bearing deposits	6,485	6,782
Federal funds sold	2,810,000	4,585,000
Investment securities
Trading securities (Note 2)	369,976	281,016
AFS securities at fair value (Note 3)	7,858,609	8,408,835
HTM securities; fair value of $2,906,101 and $3,286,547 respectively (Note 4)	2,869,192	3,246,788
Total investment securities	11,097,777	11,936,639
Advances, net (Note 6)	71,489,152	63,408,355
Mortgage loans held for portfolio (Note 7), net of allowance for credit losses of $6,300 and $7,260 respectively (Note 8)	3,052,971	3,123,334
Banking on Business (BOB) loans, net of allowance for credit losses of $1,758 and $1,840, respectively (Note 8)	11,022	11,567
Accrued interest receivable	93,983	86,109
Property, software and equipment, net	10,390	10,446
Derivative assets (Note 9)	64,152	36,217
Other assets	26,264	21,496
Total assets	94,039,450	85,677,076
Deposits
Interest-bearing	629,258	601,454
Noninterest-bearing	41,100	39,726
Total Deposits	670,358	641,180
Consolidated obligations, net: (Note 10)
Discount notes	41,061,124	37,058,118
Bonds	47,552,947	43,714,510
Total consolidated Obligations, net	88,614,071	80,772,628
Mandatory redeemable capital stock (Note 11)	562	586
Accrued interest payable	103,761	103,151
AHP payable	67,656	55,997
Derivative liabilities (Note 9)	63,375	58,964
Other liabilities	127,561	41,614
Total liabilities	$ 89,647,344	$ 81,674,120
Commitments and Contingencies ( Note 14)
Capital (Note 11)
Capital stock - putable ($100 par value) issued and outstanding 34,252 and 30,410 shares	$ 3,425,159	$ 3,040,976
Retained earnings:
Unrestricted	713,242	726,309
Restricted	141,588	111,238
Total retained earnings	854,830	837,547
Accumulated other comprehensive income (AOCI)	112,117	124,433
Total capital	4,392,106	4,002,956
Total liabilities and capital	$ 94,039,450	$ 85,677,076

Statement of Condition (Parenth

Statement of Condition (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
ASSETS
Held to maturity securities - fair value	$ 2,906,101	$ 3,286,547
Allowance for Credit losses, Mortgage Loans	6,300	7,260
Allowance for Credit Losses, BOB loans	$ 1,758	$ 1,840
Stockholders' Equity Attributable to Parent [Abstract]
Capital Stock, Par value Per Share	$ 100	$ 100
Capital Stock, Shares, Issued and Outstanding	34,252	30,410

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
OPERATING ACTIVITIES
Net Income	$ 151,752	$ 124,512
Adjustments to reconcile net income to net cash provided by(used in) operating activities:
Depreciation and amortization	(39,215)	(28,892)
Net change in derivative and hedging activities	836	39,136
Net OTTI credit losses	483	0
Other adjustments	(183)	(4,170)
Net change in:
Trading securities	(65,022)	(46,254)
Accrued interest receivable	(7,747)	7,149
Other assets	(131)	(1,173)
Accrued interest payable	608	496
Other liabilities	8,518	8,273
Net cash provided by operating activities	49,899	99,077
Net change in:
Interest-bearing deposits (including $297 and $(1,024) from/to other FHLBanks for mortgage loan program)	79,664	6,873
Federal funds sold	1,775,000	(100,000)
AFS securities:
Proceeds	2,533,060	1,011,999
Purchases	(1,931,157)	(1,646,437)
HTM securities:
Proceeds from long-term maturities	373,260	353,359
Advances:
Proceeds	262,964,058	323,163,394
Made	(271,097,321)	(327,603,873)
Mortgage loans held for portfolio:
Proceeds	250,063	221,065
Purchases	(192,739)	(142,003)
Proceeds from sale of foreclosed assets	7,211	9,260
Premises, software and equipment [Abstract]
Proceeds from sale	0	900
Purchases	(1,854)	(1,849)
Net cash (used in) investing activities	(5,240,755)	(4,727,312)
Net change in:
Deposits and pass-through reserves	19,959	17,450
Net payments for derivative contracts with financing element	(16,132)	(16,202)
Net proceeds from issuance of consolidated obligations:
Discount notes	78,981,134	52,114,011
Bonds	14,553,982	8,650,718
Payments for maturing and retiring consolidated obligations
Discount notes	(74,982,675)	(49,132,530)
Bonds	(10,688,979)	(8,924,964)
Proceeds from issuance of capital stock	1,628,242	963,924
Payments for repurchase/redemption of mandatorily redeemable capital stock	(24)	(5,572)
Payments for repurchase/redemption of capital stock	(1,244,059)	(846,537)
Cash dividends paid	(134,469)	(45,463)
Net cash provided by financing activities	8,116,979	2,774,835
Net increase (decrease) in cash and due from banks	2,926,123	(1,853,400)
Cash and due from banks at beginning of the period	2,451,131	3,121,345
Cash and due from banks at end of the period	5,377,254	1,267,945
Supplemental disclosures:
Interest paid	197,061	198,231
AHP payments	5,203	3,494
Transfers of mortgage loans to real estate owned	3,427	7,019
Non-cash transfer of OTTI HTM securities to AFS	$ 3,368	$ 0

Statement of Cash Flows (Parent

Statement of Cash Flows (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Increase (Decrease) in Deposits with Other Federal Home Loan Banks	$ 297	$ (1,024)

Statements of Changes in Capita

Statements of Changes in Capital - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total capital, beginning balance			$ 4,002,956	$ 3,692,202
Issuance of capital stock			1,628,242	963,924
Repurchase/redemption of capital stock			(1,244,059)	(846,537)
Net shares reclassified to mandatorily redeemable capital stock			0	(8,422)
Comprehensive Income	$ 43,693	$ 92,908	139,436	198,807
Cash dividends			(134,469)	(45,463)
Total capital, ending balance	$ 4,392,106	$ 3,954,511	$ 4,392,106	$ 3,954,511
Capital Stock - Putable
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, shares beginning balance			30,410	29,622
Total capital, beginning balance			$ 3,040,976	$ 2,962,143
Issuance of capital stock, shares			16,282	9,639
Issuance of capital stock			$ 1,628,242	$ 963,924
Repurchase/redemption of capital stock, shares			(12,440)	(8,466)
Repurchase/redemption of capital stock			$ (1,244,059)	$ (846,537)
Net shares reclassified to mandatorily redeemable capital stock, shares				(84)
Net shares reclassified to mandatorily redeemable capital stock				$ (8,422)
Balance, shares ending balance	34,252	30,711	34,252	30,711
Total capital, ending balance	$ 3,425,159	$ 3,071,108	$ 3,425,159	$ 3,071,108
Retained Earnings, Unrestricted
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total capital, beginning balance			726,309	625,636
Comprehensive Income			121,402	99,609
Cash dividends			(134,469)	(45,463)
Total capital, ending balance	713,242	679,782	713,242	679,782
Retained Earnings, Restricted
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total capital, beginning balance			111,238	60,083
Comprehensive Income			30,350	24,903
Total capital, ending balance	141,588	84,986	141,588	84,986
Retained Earnings Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total capital, beginning balance			837,547	685,719
Comprehensive Income			151,752	124,512
Cash dividends			(134,469)	(45,463)
Total capital, ending balance	854,830	764,768	854,830	764,768
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total capital, beginning balance			124,433	44,340
Comprehensive Income			(12,316)	74,295
Total capital, ending balance	$ 112,117	$ 118,635	$ 112,117	$ 118,635

Background Information

Background Information	6 Months Ended
	Jun. 30, 2015
Nature of Operations [Abstract]
Background Information	Background Information The Bank, a federally chartered corporation, is one of 11 district Federal Home Loan Banks (FHLBanks). Previously, there were 12 FHLBanks; however, on May 31, 2015, the FHLBank of Seattle merged with the FHLBank of Des Moines. The FHLBanks are government-sponsored enterprises (GSEs) that serve the public by increasing the availability of credit for residential mortgages and community development. The Bank provides a readily available, low-cost source of funds to its member institutions. The Bank is a cooperative, which means that current members own nearly all of the outstanding capital stock of the Bank. All holders of the Bank’s capital stock may, to the extent declared by the Board, receive dividends on their capital stock. Regulated financial depositories and insurance companies engaged in residential housing finance that maintain their principal place of business (as defined by Finance Agency regulation) in Delaware, Pennsylvania or West Virginia may apply for membership. Community Development Financial Institutions (CDFIs) which meet membership regulation standards are also eligible to become Bank members. State and local housing associates that meet certain statutory and regulatory criteria may also borrow from the Bank. While eligible to borrow, state and local housing associates are not members of the Bank and, as such, are not required to hold capital stock. All members must purchase stock in the Bank. The amount of capital stock a member owns is based on membership requirements (membership asset value) and activity requirements (i.e., outstanding advances, letters of credit, and the principal balance of certain residential mortgage loans sold to the Bank). The Bank considers those members with capital stock outstanding in excess of 10% of total capital stock outstanding to be related parties. See Note 12 - Transactions with Related Parties for additional information. The Federal Housing Finance Agency (Finance Agency) is the independent regulator of the FHLBanks. The mission of the Finance Agency is to provide effective supervision, regulation and housing mission oversight of the FHLBanks to promote their safety and soundness, support housing finance and affordable housing, and support a stable and liquid mortgage market. Each FHLBank operates as a separate entity with its own management, employees and board of directors. The Bank does not consolidate any off-balance sheet special-purpose entities or other conduits. As provided by the Federal Home Loan Bank Act (FHLBank Act), or Finance Agency regulation, the Bank’s debt instruments, referred to as consolidated obligations, are the joint and several obligations of all the FHLBanks and are the primary source of funds for the FHLBanks. These funds are primarily used to provide advances, purchase mortgages from members through the MPF Program and purchase certain investments. See Note 10 - Consolidated Obligations for additional information. The Office of Finance (OF) is a joint office of the FHLBanks established to facilitate the issuance and servicing of the consolidated obligations of the FHLBanks and to prepare and issue the combined quarterly and annual financial reports of all 11 FHLBanks. Deposits, other borrowings, and capital stock issued to members provide other funds. The Bank primarily invests these funds in short-term investments to provide liquidity. The Bank also provides member institutions with correspondent services, such as wire transfer, safekeeping and settlement. The accounting and financial reporting policies of the Bank conform to U.S. Generally Accepted Accounting Principles (GAAP). Preparation of the unaudited financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, as well as the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses. Actual results could differ from those estimates. In addition, from time to time certain amounts in the prior period may be reclassified to conform to the current presentation. To the extent that any reclassifications were made, the reclassifications did not have a material impact on the Bank's financial statements. In the opinion of management, all normal recurring adjustments have been included for a fair statement of this interim financial information. These unaudited financial statements should be read in conjunction with the audited financial statements for the year ended December 31, 2014 included in the Bank's 2014 Form 10-K.

Accounting Adjustments, Changes

Accounting Adjustments, Changes in Accounting Principle and Recently Issued Accounting Standards and Interpretations	6 Months Ended
	Jun. 30, 2015
Accounting Adjustments [Abstract]
Accounting Adjustments, Changes in Accounting Principle and Recently Issued Accounting Standards and Interpretations	Accounting Adjustments, Changes in Accounting Principle and Recently Issued Accounting Standards and Interpretations Framework for Adversely Classifying Loans, Other Real Estate Owned, and Other Assets and Listing Assets for Special Mention. In April 2012, the Finance Agency issued Advisory Bulletin 2012-02, Framework for Adversely Classifying Loans, Other Real Estate Owned, and Other Assets and Listing Assets for Special Mention (AB 2012-02 or Advisory Bulletin), which is applicable to Fannie Mae, Freddie Mac and the FHLBanks. The Advisory Bulletin establishes guidelines for adverse classification of various assets, primarily MPF loans at the Bank. Among other requirements, this Advisory Bulletin requires that the Bank classify the portion of an outstanding single-family loan balance in excess of the fair value of the underlying property, less costs to sell and adjusted for any credit enhancements, as a “loss” no later than when the loan becomes 180 days delinquent, except in certain specified circumstances (such as those involving properly secured loans with an LTV ratio equal to or less than 60%). The Bank implemented these classification provisions effective January 1, 2014. During the first quarter 2014, the Bank incorporated estimates of fair values on loans as applicable under the Advisory Bulletin in its calculation of the required “loss” on MPF loans. This change in the Bank's accounting estimate resulted in an immaterial benefit to the Bank's Allowance for Loan Losses at March 31, 2014. See Note 8 - Allowance for Credit Losses for more information. The Advisory Bulletin also requires the Bank to charge-off the portion of the loan classified as a “loss.” The Advisory Bulletin specifies that, if the Bank subsequently receives full or partial payment of a previously charged-off loan, it may report a recovery of the amount charged-off either through loss reserves or as a reduction in foreclosed property expenses. As required, the Bank adopted the charge-off provisions of the Advisory Bulletin on January 1, 2015. Upon adoption of the charge-off provisions, the Bank’s allowance for loan losses on the impacted loans was eliminated and the corresponding recorded investment in the loans was reduced by the amount charged-off, unless it is expected to be recovered through credit enhancement (CE), for which the Bank recognizes a CE fee receivable. The amount of losses realized on the Bank's loan portfolio will ultimately be the same under the Advisory Bulletin as under the Bank's past accounting practices. However, the timing of when the Bank recognizes those losses in its financial statements will differ. The adoption of the charge-off provisions of the Advisory Bulletin did not have a material impact on the Bank’s financial condition or results of operations. Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. In January 2014, the FASB issued guidance clarifying when a loan should be de-recognized and the related real estate property recognized. This guidance allows the Bank to recognize properties as real estate owned once the borrower has voluntarily conveyed its interest in the property to the Bank through a deed in lieu of foreclosure or similar agreement. This guidance was effective for the Bank beginning January 1, 2015 and did not impact the Bank's financial condition or results of operations. Revenue from Contracts with Customers. In May 2014, the FASB issued revised guidance for revenue recognition. This guidance will increase comparability across industries by providing a single, comprehensive revenue recognition model for all contracts with customers. The guidance will require recognition of revenue to reflect the economics of the transaction and will require expanded disclosures regarding revenue recognition. This guidance, which will be effective for the Bank beginning January 1, 2018, is not expected to materially impact the Bank's financial condition or results of operations. Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosur es. In June 2014, the FASB issued guidance amending the accounting for certain repurchase agreements, including repurchase-to-maturity transactions and repurchase financing transactions. This guidance was effective for the Bank beginning January 1, 2015 and did not have a material impact on the Bank's financial condition or results of operations. The guidance requires expanded disclosures for transactions accounted for as secured borrowings and sales beginning April 1, 2015, which did not impact the Bank's financial statements. Classification of Certain Government Insured Residential Mortgage Loans upon Foreclosure. In August 2014, the FASB issued guidance to limit diversity in practice for classification of certain mortgage loans backed by a government guarantee upon foreclosure. Upon foreclosure, the mortgage loan should be de-recognized and a separate other receivable recognized for the amount of the loan balance expected to be recovered from the guarantor. This guidance was effective for the Bank beginning January 1, 2015 and did not impact the Bank's financial condition or results of operations. Going Concern . In August 2014, the FASB issued guidance which requires all entities to perform an interim and annual assessment of their ability to continue as a going concern for one year from the date of issuance of their respective financial statements. The guidance also requires disclosures if there is “substantial doubt” of the entity’s ability to continue as a going concern. The Bank's initial quarterly assessment will be required to be completed on its December 31, 2016 financial statements. Extraordinary Items. In January 2015, the FASB issued guidance which eliminates the concept of extraordinary items. As a result, preparers and auditors no longer need to determine whether an event is extraordinary. However, the guidance continues to require separate presentation on the Statement of Income for items that are both unusual and infrequent. This guidance is effective for the Bank beginning January 1, 2016 and will not impact the Bank’s results of operations. Consolidation. In February 2015, the FASB issued amendments to its existing consolidation guidance which may impact the Bank’s evaluation of which entities are considered to be Variable Interest Entities (VIEs) and if the Bank is required to consolidate a VIE. This guidance is effective for the Bank beginning January 1, 2016 and will not impact the Bank's financial condition. Simplifying the Presentation of Debt Issuance Costs. In April 2015, the FASB issued guidance which requires the Bank to present debt issuance costs as a direct deduction from the related debt on the statement of condition, consistent with debt discounts. This guidance is effective for the Bank beginning January 1, 2016 and will be applied retrospectively. This guidance will result in a reclassification of debt issuance costs from Other Assets to Consolidated Obligations in the Bank's Statement of Condition, which is not expected to be material. Cloud Computing Arrangements. In April 2015, the FASB issued guidance which clarifies circumstances under which a cloud computing arrangement should be accounted for as a license of internal-use software as opposed to a service contract. The Bank is currently evaluating the impact of this guidance, which is effective for the Bank beginning January 1, 2016 and may be applied prospectively. Technical Corrections and Improvements. In June 2015, the FASB issued guidance which makes targeted improvements to several areas of its Accounting Standards Codification, including clarification of its guidance for disclosures of recurring and non-recurring fair value measurements. This guidance was effective for the Bank upon issuance and resulted in additional disclosure in Note 13 - Estimated Fair Values for non-recurring fair value measurements for the six months ended June 30, 2015. These amounts were immaterial for the year ended December 31, 2014. This guidance did not impact the Bank's Statement of Condition.

Trading Securities

Trading Securities	6 Months Ended
	Jun. 30, 2015
Trading Securities [Abstract]
Trading Securities	Trading Securities The following table presents trading securities as of June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Non-MBS: Mutual funds $ 5,239 $ 4,721 GSE and Tennessee Valley Authority (TVA) obligations 364,737 276,295 Total $ 369,976 $ 281,016 The mutual funds are held in a Rabbi trust to generate returns that seek to offset changes in liabilities related to market risk of certain deferred compensation agreements. These deferred compensation liabilities were $5.3 million and $4.9 million at June 30, 2015 and December 31, 2014 , respectively, and are included in Other liabilities in the Statement of Condition. The following table presents net gains (losses) on trading securities for the second quarter and the first six months of 2015 and 2014 . Three months ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Net unrealized gains (losses) on trading securities held at period-end $ (10,133 ) $ 6,789 $ (3,356 ) $ 16,495 Net realized gains on securities sold/matured during the period — — — 86 Net gains (losses) on trading securities $ (10,133 ) $ 6,789 $ (3,356 ) $ 16,581

Available-for-Sale (AFS) Securi

Available-for-Sale (AFS) Securities	6 Months Ended
	Jun. 30, 2015
Available-for-sale Securities [Abstract]
Available-for-Sale (AFS) Securities	Available-for-Sale (AFS) Securities The following tables present AFS securities as of June 30, 2015 and December 31, 2014 . June 30, 2015 (in thousands) Amortized Cost (1) OTTI Recognized in AOCI (2) Gross Unrealized Gains Gross Unrealized Losses Fair Value Non-MBS: Mutual funds $ 1,993 $ — $ 5 $ — $ 1,998 GSE and TVA obligations 3,011,630 — 18,417 (2,200 ) 3,027,847 State or local agency obligations 93,068 — 174 (3,157 ) 90,085 Total non-MBS $ 3,106,691 $ — $ 18,596 $ (5,357 ) $ 3,119,930 MBS: Other U.S. obligations single family MBS $ 298,284 $ — $ 494 $ (53 ) $ 298,725 GSE single-family MBS 2,658,980 — 12,882 (4,528 ) 2,667,334 GSE multifamily MBS 845,816 — 10,477 (2,069 ) 854,224 Private label MBS: Private label residential MBS 825,915 (3,047 ) 85,305 (248 ) 907,925 HELOCs 8,480 (1 ) 1,992 — 10,471 Total private label MBS 834,395 (3,048 ) 87,297 (248 ) 918,396 Total MBS $ 4,637,475 $ (3,048 ) $ 111,150 $ (6,898 ) $ 4,738,679 Total AFS securities $ 7,744,166 $ (3,048 ) $ 129,746 $ (12,255 ) $ 7,858,609 December 31, 2014 (in thousands) Amortized Cost (1) OTTI Recognized in AOCI (2) Gross Unrealized Gains Gross Unrealized Losses Fair Value Non-MBS: Mutual funds $ 1,993 $ — $ 5 $ — $ 1,998 GSE and TVA obligations 3,221,543 — 17,661 (5,501 ) 3,233,703 State or local agency obligations 98,616 — 752 (384 ) 98,984 Total non-MBS $ 3,322,152 $ — $ 18,418 $ (5,885 ) $ 3,334,685 MBS: Other U.S. obligations single family MBS $ 328,787 $ — $ 592 $ — $ 329,379 GSE single-family MBS 2,869,855 — 16,433 (4,126 ) 2,882,162 GSE multifamily MBS 872,509 — 9,511 (2,193 ) 879,827 Private label MBS: Private label residential MBS 879,376 (863 ) 92,860 (290 ) 971,083 HELOCs 9,245 — 2,454 — 11,699 Total private label MBS 888,621 (863 ) 95,314 (290 ) 982,782 Total MBS $ 4,959,772 $ (863 ) $ 121,850 $ (6,609 ) $ 5,074,150 Total AFS securities $ 8,281,924 $ (863 ) $ 140,268 $ (12,494 ) $ 8,408,835 Notes : (1) Amortized cost includes adjustments made to the cost basis of an investment for accretion of discounts and/or amortization of premiums, collection of cash, previous OTTI recognized in earnings, and/or fair value hedge accounting adjustments. (2) Represents the non-credit portion of an OTTI recognized during the life of the security. The Bank has established a Rabbi trust to secure a portion of the benefits under its supplemental retirement plan. The Rabbi trust assets are invested in mutual funds as disclosed above. These obligations were $7.3 million and $7.0 million at June 30, 2015 and December 31, 2014 , respectively, and are included in Other liabilities in the Statement of Condition. As of June 30, 2015 , the amortized cost of the Bank’s MBS classified as AFS included net purchased discounts of $8.6 million , credit losses of $212.6 million and OTTI-related accretion adjustments of $21.9 million . As of December 31, 2014 , these amounts were $9.5 million , $222.5 million and $11.7 million , respectively. The following table presents a reconciliation of the AFS OTTI loss recognized through AOCI to the total net non-credit portion of OTTI gains on AFS securities in AOCI as of June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Non-credit portion of OTTI losses $ (3,048 ) $ (863 ) Net unrealized gains on OTTI securities since their last OTTI credit charge 87,298 95,314 Net non-credit portion of OTTI gains on AFS securities in AOCI $ 84,250 $ 94,451 The following tables summarize the AFS securities with unrealized losses as of June 30, 2015 and December 31, 2014 . The unrealized losses are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. June 30, 2015 Less than 12 Months Greater than 12 Months Total (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (1) Non-MBS: GSE and TVA obligations $ 1,045,729 $ (1,873 ) $ 303,697 $ (327 ) $ 1,349,426 $ (2,200 ) State or local agency obligations 76,543 (2,997 ) 3,840 (160 ) 80,383 (3,157 ) Total non-MBS $ 1,122,272 $ (4,870 ) $ 307,537 $ (487 ) $ 1,429,809 $ (5,357 ) MBS: Other U.S. obligations single family MBS $ 104,779 $ (53 ) $ — $ — $ 104,779 $ (53 ) GSE single-family MBS 202,168 (272 ) 198,889 (4,256 ) 401,057 (4,528 ) GSE multifamily MBS 209,998 (2,069 ) — — 209,998 (2,069 ) Private label: Private label residential MBS 58,002 (2,844 ) 17,001 (451 ) 75,003 (3,295 ) HELOCs 1,368 (1 ) — — 1,368 (1 ) Total private label MBS 59,370 (2,845 ) 17,001 (451 ) 76,371 (3,296 ) Total MBS $ 576,315 $ (5,239 ) $ 215,890 $ (4,707 ) $ 792,205 $ (9,946 ) Total $ 1,698,587 $ (10,109 ) $ 523,427 $ (5,194 ) $ 2,222,014 $ (15,303 ) December 31, 2014 Less than 12 Months Greater than 12 Months Total (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (1) Non-MBS: GSE and TVA obligations $ 1,783,202 $ (4,380 ) $ 322,691 $ (1,121 ) $ 2,105,893 $ (5,501 ) State or local agency obligations 1,576 (14 ) 11,385 (370 ) 12,961 (384 ) Total non-MBS $ 1,784,778 $ (4,394 ) $ 334,076 $ (1,491 ) $ 2,118,854 $ (5,885 ) MBS: GSE single-family MBS $ 19,405 $ (3 ) $ 228,257 $ (4,123 ) $ 247,662 $ (4,126 ) GSE multifamily MBS 15,322 (104 ) 185,153 (2,089 ) 200,475 (2,193 ) Private label residential MBS 58,553 (191 ) 49,383 (962 ) 107,936 (1,153 ) Total MBS $ 93,280 $ (298 ) $ 462,793 $ (7,174 ) $ 556,073 $ (7,472 ) Total $ 1,878,058 $ (4,692 ) $ 796,869 $ (8,665 ) $ 2,674,927 $ (13,357 ) Note: (1) Total unrealized losses equal the sum of “OTTI Recognized in AOCI” and “Gross Unrealized Losses” in the first two tables of this Note 3. Securities Transferred. The Bank may transfer investment securities from HTM to AFS when an OTTI credit loss has been recorded on the security. The Bank believes that a credit loss constitutes evidence of a significant decline in the issuer’s creditworthiness. The Bank transfers these securities to increase its flexibility to sell the securities if management determines it is prudent to do so. Refer to description in Note 4 - Held-to-Maturity Securities. The Bank transferred one private label MBS from HTM to AFS during the second quarter of 2015, which is the period in which an OTTI credit loss was recorded on the security. The amortized cost, OTTI recognized in OCI, and the fair value of the security transferred were $4.4 million , $(1.0) million , and $3.4 million , respectively. There were no other transfers during the first six months of 2015, and there were no transfers during the first six months of 2014. Redemption Terms. The amortized cost and fair value of AFS securities by contractual maturity as of June 30, 2015 and December 31, 2014 are presented below. Expected maturities of some securities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. (in thousands) June 30, 2015 December 31, 2014 Year of Maturity Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 195,992 $ 195,972 $ 301,985 $ 302,087 Due after one year through five years 1,647,989 1,648,029 2,058,695 2,054,517 Due after five years through ten years 683,528 699,385 662,805 676,064 Due in more than ten years 579,182 576,544 298,667 302,017 AFS securities excluding MBS 3,106,691 3,119,930 3,322,152 3,334,685 MBS 4,637,475 4,738,679 4,959,772 5,074,150 Total AFS securities $ 7,744,166 $ 7,858,609 $ 8,281,924 $ 8,408,835 Interest Rate Payment Terms. The following table details interest payment terms at June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Amortized cost of AFS securities other than MBS: Fixed-rate $ 2,922,021 $ 2,902,430 Variable-rate 184,670 419,722 Total non-MBS $ 3,106,691 $ 3,322,152 Amortized cost of AFS MBS: Fixed-rate $ 1,719,243 $ 2,002,208 Variable-rate 2,918,232 2,957,564 Total MBS $ 4,637,475 $ 4,959,772 Total amortized cost of AFS securities $ 7,744,166 $ 8,281,924 Note: Certain MBS have a fixed-rate component for a specified period of time, then have a rate reset on a given date. Examples of this type of instrument would include securities supported by underlying 3/1, 5/1, 7/1 and 10/1 hybrid ARMs. In addition, certain of these securities may have a provision within the structure that permits the fixed-rate to be adjusted for items such as prepayment, defaults and loan modification. For purposes of the table above, these securities are reported as fixed-rate until the rate reset date is hit. At that point, the security is then considered to be variable-rate.

Held-to-Maturity (HTM) Securiti

Held-to-Maturity (HTM) Securities	6 Months Ended
	Jun. 30, 2015
Held-to-maturity Securities [Abstract]
Held-to-Maturity (HTM) Securities	Held-to-Maturity (HTM) Securities The following tables present HTM securities as of June 30, 2015 and December 31, 2014 . June 30, 2015 (in thousands) Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Fair Value Non-MBS: GSE securities $ 11,456 $ 157 $ — $ 11,613 State or local agency obligations 175,722 808 (13,860 ) 162,670 Total non-MBS $ 187,178 $ 965 $ (13,860 ) $ 174,283 MBS: Other U.S. obligations single-family MBS $ 973,944 $ 6,422 $ (1 ) $ 980,365 GSE single-family MBS 348,533 6,025 (51 ) 354,507 GSE multifamily MBS 770,107 40,164 — 810,271 Private label residential MBS 589,430 3,050 (5,805 ) 586,675 Total MBS $ 2,682,014 $ 55,661 $ (5,857 ) $ 2,731,818 Total HTM securities $ 2,869,192 $ 56,626 $ (19,717 ) $ 2,906,101 December 31, 2014 (in thousands) Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Fair Value Non-MBS: GSE securities $ 13,041 $ 382 $ — $ 13,423 State or local agency obligations 184,412 1,314 (15,445 ) 170,281 Total non-MBS $ 197,453 $ 1,696 $ (15,445 ) $ 183,704 MBS: Other U.S. obligations single-family MBS $ 1,122,537 $ 8,604 $ — $ 1,131,141 GSE single-family MBS 417,217 7,226 (118 ) 424,325 GSE multifamily MBS 818,037 43,431 — 861,468 Private label residential MBS 691,544 3,506 (9,141 ) 685,909 Total MBS $ 3,049,335 $ 62,767 $ (9,259 ) $ 3,102,843 Total HTM securities $ 3,246,788 $ 64,463 $ (24,704 ) $ 3,286,547 The following tables summarize the HTM securities with unrealized losses as of June 30, 2015 and December 31, 2014 . The unrealized losses are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. June 30, 2015 Less than 12 Months Greater than 12 Months Total (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Non-MBS: State or local agency obligations $ — $ — $ 114,760 $ (13,860 ) $ 114,760 $ (13,860 ) MBS: Other U.S. obligations single family MBS $ 11,198 $ (1 ) $ — $ — $ 11,198 $ (1 ) GSE single-family MBS — — 10,077 (51 ) 10,077 (51 ) Private label residential MBS 146,375 (1,074 ) 202,639 (4,731 ) 349,014 (5,805 ) Total MBS $ 157,573 $ (1,075 ) $ 212,716 $ (4,782 ) $ 370,289 $ (5,857 ) Total $ 157,573 $ (1,075 ) $ 327,476 $ (18,642 ) $ 485,049 $ (19,717 ) December 31, 2014 Less than 12 Months Greater than 12 Months Total (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Non-MBS: State or local agency obligations $ 3,361 $ (54 ) $ 116,488 $ (15,391 ) $ 119,849 $ (15,445 ) MBS: GSE single-family MBS $ — $ — $ 11,058 $ (118 ) $ 11,058 $ (118 ) Private label residential MBS 185,673 (1,291 ) 233,287 (7,850 ) 418,960 (9,141 ) Total MBS $ 185,673 $ (1,291 ) $ 244,345 $ (7,968 ) $ 430,018 $ (9,259 ) Total $ 189,034 $ (1,345 ) $ 360,833 $ (23,359 ) $ 549,867 $ (24,704 ) Securities Transferred. The Bank transferred one private label MBS from HTM to AFS during the second quarter of 2015. See Note 3 - Available-for-Sale Securities for additional information. There were no other transfers during the first six months of 2015, and there were no transfers during the first six months of 2014. Changes in circumstances may cause the Bank to change its intent to hold a certain security to maturity without calling into question its intent to hold other debt securities to maturity in the future. Thus, the transfer or sale of an HTM security due to certain changes in circumstances, such as evidence of significant deterioration in the issuer’s creditworthiness or changes in regulatory requirements, is not considered to be inconsistent with its original classification. Other events that are isolated, nonrecurring, and unusual for the Bank that could not have been reasonably anticipated may cause the Bank to transfer or sell an HTM security without necessarily calling into question its intent to hold other debt securities to maturity. Redemption Terms. The amortized cost and fair value of HTM securities by contractual maturity as of June 30, 2015 and December 31, 2014 are presented below. Expected maturities of some securities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. (in thousands) June 30, 2015 December 31, 2014 Year of Maturity Amortized Cost Fair Value Amortized Cost Fair Value Non-MBS: Due in one year or less $ 11,456 $ 11,613 $ 13,042 $ 13,423 Due after one year through five years — — 3,415 3,361 Due after five years through ten years 60,197 58,773 21,807 22,263 Due after ten years 115,525 103,897 159,189 144,657 HTM securities excluding MBS 187,178 174,283 197,453 183,704 MBS 2,682,014 2,731,818 3,049,335 3,102,843 Total HTM securities $ 2,869,192 $ 2,906,101 $ 3,246,788 $ 3,286,547 Interest Rate Payment Terms. The following table details interest rate payment terms at June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Amortized cost of HTM securities other than MBS: Fixed-rate $ 41,838 $ 44,453 Variable-rate 145,340 153,000 Total non-MBS $ 187,178 $ 197,453 Amortized cost of HTM MBS: Fixed-rate $ 979,411 $ 1,114,059 Variable-rate 1,702,603 1,935,276 Total MBS $ 2,682,014 $ 3,049,335 Total HTM securities $ 2,869,192 $ 3,246,788 Note: Certain MBS have a fixed-rate component for a specified period of time, then have a rate reset on a given date. Examples of this type of instrument would include securities supported by underlying 3/1, 5/1, 7/1 and 10/1 hybrid ARMs. In addition, certain of these securities may have a provision within the structure that permits the fixed-rate to be adjusted for items such as prepayment, defaults and loan modification. For purposes of the table above, these securities are reported as fixed-rate until the rate reset date is hit. At that point, the security is then considered to be variable-rate.

Other-Than-Temporary Impairment

Other-Than-Temporary Impairment	6 Months Ended
	Jun. 30, 2015
Other Than Temporary Impairment [Abstract]
Other-Than-Temporary Impairment	Other-Than-Temporary Impairment (OTTI) The Bank evaluates its individual AFS and HTM securities in an unrealized loss position for OTTI on a quarterly basis. The Bank assesses whether there is OTTI by performing an analysis to determine if any securities will incur a credit loss, which could be up to the difference between the security's amortized cost basis and its fair value, and records any difference in its Statement of Income. For information on the Bank’s accounting for OTTI, see Note 1 - Summary of Significant Accounting Policies to the audited financial statements in the Bank's 2014 Form 10-K. For information about how the Bank projects cash flows expected to be collected, see Note 7 - Other-than-Temporary Impairment Analysis to the audited financial statements in the Bank’s 2014 Form 10-K. A significant input to the projection of cash flows expected to be collected is the forecast of future housing price changes for the relevant states and core-based statistical areas (CBSAs) which are based upon an assessment of the individual housing markets. During the second quarter of 2015, the OTTI Governance Committee developed a short-term housing price forecast using whole percentages ranging from (2.0)% to 8.0% over the 12 month period beginning April 1, 2015. For the vast majority of markets the short-term forecast has changes from 2.0% to 5.0% . Thereafter, a unique path is projected for each geographic area based on an internally developed framework derived from historical data. All of the Bank's other-than-temporarily impaired securities were classified as AFS at June 30, 2015 . The "Total OTTI securities" balances below summarize the Bank’s securities as of June 30, 2015 for which an OTTI has been recognized during the life of the security. The "Private label MBS with no OTTI" balances below represent AFS securities on which an OTTI was not taken. The sum of these two totals reflects the entire AFS private label MBS portfolio. OTTI Recognized During the Life of the Security (in thousands) Unpaid Principal Balance Amortized Cost (1) Fair Value Private label residential MBS: Prime $ 470,704 $ 383,470 $ 427,855 Alt-A 554,452 438,093 475,753 Subprime 2,010 1,192 1,405 HELOCs 11,621 8,480 10,471 Total OTTI securities 1,038,787 831,235 915,484 Private label MBS with no OTTI 3,160 3,160 2,912 Total AFS private label MBS $ 1,041,947 $ 834,395 $ 918,396 Notes: (1) Amortized cost includes adjustments made to the cost basis of an investment for accretion of discounts and/or amortization of premiums, collection of cash, and/or previous OTTI recognized in earnings. The following table presents the rollforward of the amounts related to OTTI credit losses recognized during the life of the security for which a portion of the OTTI charges was recognized in AOCI for the three and six months ended June 30, 2015 and 2014 . Three months ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Beginning balance $ 283,916 $ 308,200 $ 290,935 $ 314,224 Additions: Credit losses for which OTTI was not previously recognized 483 — 483 — Reductions: Securities sold and matured during the period (1) — 112 — 36 Increases in cash flows expected to be collected (accreted as interest income over the remaining lives of the applicable securities) (7,148 ) (5,891 ) (14,167 ) (11,839 ) Ending balance $ 277,251 $ 302,421 $ 277,251 $ 302,421 Notes: (1) Represents reductions related to securities sold or having reached final maturity during the period, and therefore are no longer held by the Bank at the end of the period. All Other AFS and HTM Investments. At June 30, 2015 , the Bank held certain securities in an unrealized loss position. These unrealized losses were considered to be temporary as the Bank expects to recover the entire amortized cost basis on the remaining securities in unrealized loss positions based on the creditworthiness of the underlying creditor, guarantor, or implicit government support, and the Bank neither intends to sell these securities nor considers it more likely than not that the Bank would be required to sell any such security before its anticipated recovery. As a result, the Bank did not consider any of these other investments to be other-than-temporarily impaired at June 30, 2015 .

Advances

Advances	6 Months Ended
	Jun. 30, 2015
Advances [Abstract]
Advances	Advances General Terms. The Bank offers a wide range of fixed- and variable-rate advance products with different maturities, interest rates, payment characteristics and optionality. Fixed-rate advances generally have maturities ranging from one day to 30 years . Variable-rate advances generally have maturities ranging from less than 30 days to 10 years , where the interest rates reset periodically at a fixed spread to LIBOR or other specified indices. At June 30, 2015 and December 31, 2014 , the Bank had advances outstanding, including AHP advances, with interest rates ranging from 0.05% to 7.40% . AHP subsidized loans have interest rates ranging from 2.00% to 5.50% . The following table details the Bank’s advances portfolio by year of contractual maturity as of June 30, 2015 and December 31, 2014 . (dollars in thousands) June 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 $ 30,291,091 0.51 % $ 29,380,685 0.42 % Due after 1 year through 2 years 13,807,326 0.89 7,754,473 1.22 Due after 2 years through 3 years 16,628,328 0.93 12,764,348 1.14 Due after 3 years through 4 years 6,733,157 0.90 9,361,638 0.82 Due after 4 years through 5 years 2,757,817 0.89 3,373,989 0.84 Thereafter 1,041,675 2.63 490,823 2.77 Total par value 71,259,394 0.76 % 63,125,956 0.76 % Discount on AHP advances (39 ) (66 ) Deferred prepayment fees (6,581 ) (8,600 ) Hedging adjustments 236,378 291,065 Total book value $ 71,489,152 $ 63,408,355 The Bank also offers convertible advances. Convertible advances allow the Bank to convert an advance from one interest rate structure to another. When issuing convertible advances, the Bank may purchase put options from a member that allow the Bank to convert the fixed-rate advance to a variable-rate advance at the current market rate or another structure after an agreed-upon lockout period. A convertible advance carries a lower interest rate than a comparable-maturity fixed-rate advance without the conversion feature. Variable to fixed-rate convertible advances have a defined lockout period during which the interest rates adjust based on a spread to LIBOR. At the end of the lockout period, these advances may convert to fixed-rate advances. The fixed rates on the converted advances are determined at origination. At June 30, 2015 and December 31, 2014 , the Bank had convertible advances outstanding of $1.8 billion and $1.9 billion , respectively. The Bank offers certain advances to members that provide a member the right, based upon predetermined option exercise dates, to call the advance prior to maturity without incurring prepayment or termination fees (returnable advances). If the call option is exercised, replacement funding may be available. Beginning in May 2015, the Bank began offering variable-rate returnable advances in addition to fixed-rate returnable advances. At June 30, 2015 , the Bank had $4.5 billion of returnable advances. At December 31, 2014 , the Bank did not have any outstanding returnable advances. At June 30, 2015 and December 31, 2014 , the Bank did not have any advances with embedded features that met the requirements to separate the embedded feature from the host contract and designate the embedded feature as a stand-alone derivative. The following table summarizes advances by (i) year of contractual maturity or next call date and (ii) year of contractual maturity or next convertible date as of June 30, 2015 and December 31, 2014 . Year of Contractual Maturity or Next Call Date Year of Contractual Maturity or Next Convertible Date (in thousands) June 30, 2015 December 31, 2014 June 30, 2015 December 31, 2014 Due in 1 year or less $ 32,541,091 $ 29,380,685 $ 31,814,591 $ 31,164,685 Due after 1 year through 2 years 12,957,326 7,754,473 12,852,326 6,846,973 Due after 2 years through 3 years 15,228,328 12,764,348 16,150,328 12,179,348 Due after 3 years through 4 years 6,733,157 9,361,638 6,668,157 9,095,638 Due after 4 years through 5 years 2,757,817 3,373,989 2,752,317 3,368,489 Thereafter 1,041,675 490,823 1,021,675 470,823 Total par value $ 71,259,394 $ 63,125,956 $ 71,259,394 $ 63,125,956 Interest Rate Payment Terms. The following table details interest rate payment terms for advances as of June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Fixed-rate – overnight $ 2,118,227 $ 2,012,230 Fixed-rate – term: Due in 1 year or less 20,920,768 20,740,508 Thereafter 10,493,573 9,116,344 Total fixed-rate 33,532,568 31,869,082 Variable-rate: Due in 1 year or less 7,252,096 6,627,947 Thereafter 30,474,730 24,628,927 Total variable-rate 37,726,826 31,256,874 Total par value $ 71,259,394 $ 63,125,956 Credit Risk Exposure and Security Terms. The Bank’s potential credit risk from advances is concentrated in commercial banks and savings institutions. As of June 30, 2015 , the Bank had advances of $52.5 billion outstanding to its five largest borrowers, which represented 73.7% of total advances outstanding. Of these five , four had outstanding advance balances that were each in excess of 10% of the total portfolio at June 30, 2015 . As of December 31, 2014 , the Bank had advances of $46.6 billion outstanding to its five largest borrowers, which represented 73.8% of total advances outstanding. Of these five , three had outstanding advance balances in excess of 10% of the total portfolio at December 31, 2014 . See Note 8 for information related to the Bank's allowance for credit losses.

Mortgage Loans Held for Portfol

Mortgage Loans Held for Portfolio	6 Months Ended
	Jun. 30, 2015
Mortgage Loans on Real Estate [Abstract]
Mortgage Loans Held for Portfolio	Mortgage Loans Held for Portfolio Under the MPF Program, the Bank invests in mortgage loans, which it purchases from its participating members and housing associates. The Bank’s participating members originate, service, and credit enhance residential mortgage loans that are sold to the Bank. See Note 12 for further information regarding transactions with related parties. The following table presents balances as of June 30, 2015 and December 31, 2014 for mortgage loans held for portfolio. (in thousands) June 30, 2015 December 31, 2014 Fixed-rate long-term single-family mortgages (1) $ 2,600,087 $ 2,640,633 Fixed-rate medium-term single-family mortgages (1) 385,021 417,830 Total par value 2,985,108 3,058,463 Premiums 50,078 51,214 Discounts (4,300 ) (4,872 ) Hedging adjustments 28,385 25,789 Total mortgage loans held for portfolio $ 3,059,271 $ 3,130,594 Note: (1) Long-term is defined as greater than 15 years. Medium-term is defined as a term of 15 years or less. The following table details the par value of mortgage loans held for portfolio outstanding categorized by type as of June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Conventional loans $ 2,721,816 $ 2,779,962 Government-guaranteed/insured loans 263,292 278,501 Total par value $ 2,985,108 $ 3,058,463 See Note 8 - Allowance for Credit Losses for information related to the Bank's credit risk on mortgage loans and allowance for credit losses.

Allowance for Credit Losses

Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2015
Allowance for Credit Losses [Abstract]
Allowance for Credit Losses	Allowance for Credit Losses The Bank has established an allowance methodology for each of the Bank’s portfolio segments: credit products, government-guaranteed or insured mortgage loans held for portfolio, conventional MPF loans held for portfolio, and BOB loans. Credit Products . The Bank manages its total credit exposure (TCE), which includes advances, letters of credit, advance commitments, and other credit product exposure, through an integrated approach. This generally provides for a credit limit to be established 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 each borrower's need for a reliable source of funding. In addition, the Bank lends to its members in accordance with the FHLBank Act and Finance Agency regulations. Specifically, the FHLBank Act requires the Bank to obtain 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 weightings, or haircuts, to the value of the collateral. The Bank accepts cash, certain investment securities, residential mortgage loans, deposits, and other real estate related assets as collateral. In addition, Community Financial Institutions (CFIs) are eligible to utilize expanded statutory collateral provisions for small business, agriculture, and community development loans. The Bank’s capital stock owned by the borrowing member is pledged as secondary collateral. Collateral arrangements may vary depending upon borrower credit quality, financial condition and performance, borrowing capacity, and overall credit exposure to the borrower. The Bank can require additional or substitute collateral to help ensure that credit products continue to be secured by adequate collateral. Management of the Bank believes that these policies effectively manage the Bank’s respective credit risk from credit products. Based upon the financial condition of the member, the Bank either allows a member to retain physical possession of the collateral assigned to the Bank or requires the member to specifically deliver physical possession or control of the collateral to the Bank or its custodians. However, notwithstanding financial condition, the Bank always takes possession or control of securities used as collateral if they are used for maximum borrowing capacity (MBC) or to secure advances. The Bank perfects its security interest in all pledged collateral. The FHLBank Act affords any security interest granted to the Bank by a member (or an affiliate of 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 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 Bank considers the payment status, collateral types and concentration levels, and borrower’s financial condition to be indicators of credit quality on its credit products. At June 30, 2015 , the Bank had rights to collateral on a member-by-member basis with a value in excess of its outstanding extensions of credit. The Bank continues to evaluate and, as necessary, make changes to its collateral guidelines based on current market conditions. At June 30, 2015 , the Bank did not have any credit products that were past due, on nonaccrual status, or considered impaired. In addition, the Bank did not have any credit products considered to be troubled debt restructurings (TDRs). Based upon the collateral held as security, its credit extension policies, collateral policies, management’s credit analysis and the repayment history on credit products, the Bank has not incurred any credit losses on credit products since inception. Accordingly, the Bank has not recorded any allowance for credit losses for these products. Additionally, at June 30, 2015 and December 31, 2014 , the Bank has not recorded any allowance for credit losses for off-balance sheet credit products. Mortgage Loans - Government-Guaranteed or Insured. The Bank invests in government-guaranteed or insured fixed-rate mortgage loans secured by one-to-four family residential properties. Government-guaranteed mortgage loans are those insured or guaranteed by the Federal Housing Administration (FHA), Department of Veterans Affairs (VA), the Rural Housing Service (RHS) of the Department of Agriculture and/or by Housing and Urban Development (HUD). Any losses from such loans are expected to be recovered from those entities. If not, losses from such loans must be contractually absorbed by the servicers. Therefore, there is no allowance for credit losses on government-guaranteed or insured mortgage loans. Mortgage Loans - Conventional MPF. The allowances for conventional loans are determined by analyses that include consideration of various data observations such as past performance, current performance, loan portfolio characteristics, collateral-related characteristics, industry data, and prevailing economic conditions. The measurement of the allowance for credit losses includes: (1) reviewing all residential mortgage loans at the individual master commitment level; (2) reviewing specifically identified collateral-dependent loans for impairment; and/or (3) reviewing homogeneous pools of residential mortgage loans. The Bank’s allowance for credit losses takes into consideration the CE associated with conventional mortgage loans under the MPF Program. Specifically, the determination of the allowance generally considers expected Primary Mortgage Insurance (PMI), Supplemental Mortgage Insurance (SMI), and other CE amounts. Any incurred losses that are expected to be recovered from the CE reduce the Bank’s allowance for credit losses. For conventional MPF loans, credit losses that are not fully covered by PMI are allocated to the Bank up to an agreed upon amount, referred to as the first loss account (FLA). The FLA functions as a tracking mechanism for determining the point after which the PFI is required to cover losses. The Bank pays the PFI a fee, a portion of which may be based on the credit performance of the mortgage loans, in exchange for absorbing the second layer of losses up to an agreed-upon CE amount. The CE amount may be a direct obligation of the PFI and/or an SMI policy paid for by the PFI, and may include performance-based fees which can be withheld to cover losses allocated to the Bank (referred to as recaptured CE fees). The PFI is required to pledge collateral to secure any portion of its CE amount that is a direct obligation. A receivable which is assessed for collectability is generally established for losses expected to be recovered by withholding CE fees. Estimated losses exceeding the CE, if any, are incurred by the Bank. At June 30, 2015 and December 31, 2014 , the MPF exposure under the FLA was $22.6 million and $23.1 million , respectively. The Bank records CE fees paid to PFIs as a reduction to mortgage loan interest income. The Bank incurred CE fees of $0.8 million for both the second quarter of 2015 and 2014 , respectively and $1.5 million and $1.6 million during the six months ended June 30, 2015 and 2014 . Collectively Evaluated Mortgage Loans. The Bank collectively evaluates the homogeneous mortgage loan portfolio for impairment. The allowance for credit loss methodology for mortgage loans considers loan pool specific attribute data, applies loss severities and incorporates the CEs of the MPF Program and PMI. The probability of default and loss given default are based on the actual 12-month historical performance of the Bank’s mortgage loans. Actual probability of default was determined by applying migration analysis to categories of mortgage loans (current, 30 days past due, 60 days past due, and 90 days past due). Actual loss given default was determined based on realized losses incurred on the sale of mortgage loan collateral over the previous 12 months. Given the credit deterioration experienced by PMI companies, estimated future claim payments from these companies have been reduced and factored into estimated loan losses. The resulting estimated losses are reduced by the CEs the Bank expects to be eligible to receive. The CEs are contractually set and calculated by a master commitment agreement between the Bank and the PFI. Losses in excess of the CEs are incurred by the Bank. Individually Evaluated Mortgage Loans. The Bank evaluates certain conventional mortgage loans for impairment individually. Prior to January 1, 2014, these loans were limited to TDRs. Beginning January 1, 2014, the Bank adopted the classification provisions required by AB 2012-02 as described in Note 1 - Accounting Adjustments, Changes in Accounting Principle and Recently Issued Accounting Standards and Interpretations. As a result, the population of individually evaluated mortgage loans expanded to include impaired loans considered collateral-dependent loans where repayment is expected to be provided by the sale of the underlying property, which primarily consist of MPF loans that are 180 days or more delinquent and other loans where the borrower has filed for bankruptcy. The estimated credit losses on impaired collateral-dependent loans are separately determined because sufficient information exists to make a reasonable estimate of the inherent loss for such loans on an individual basis. The incurred loss on each loan is equal to the difference between the carrying value of the loan and the estimated fair value of the collateral less estimated selling costs and recovery through PMI. The estimated fair value is determined based on a value provided by a third party's retail-based Automated Valuation Model (AVM). The Bank adjusts the AVM based on the amount it has historically received on liquidations. During 2014, the resulting loss was reduced by available CE. Beginning January 1, 2015, the Bank adopted the charge-off provisions of AB 2012-02. As a result, the estimated credit loss on individually evaluated MPF loans is charged-off against the reserve. However, if the estimated loss can be recovered through CE, a receivable is established, resulting in a net charge-off. The CE receivable is evaluated for collectibility, and a reserve, included as part of the allowance for credit losses, is established, if required. Rollforward of Allowance for Credit Losses. Mortgage Loans - Conventional MPF. Three months ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Balance, beginning of period $ 6,566 $ 7,318 $ 7,260 $ 11,359 (Charge-offs) Recoveries, net (1) (311 ) (302 ) (413 ) (302 ) Provision (benefit) for credit losses 45 527 (547 ) (3,514 ) Balance, June 30 $ 6,300 $ 7,543 $ 6,300 $ 7,543 Notes: (1) Net charge-offs that the Bank does not expect to recover through CE receivable. Allowances for Credit Losses and Recorded Investment by Impairment Methodology . Mortgage Loans - Conventional MPF. (in thousands) June 30, 2015 December 31, 2014 Ending balance, individually evaluated for impairment $ 5,206 $ 6,034 Ending balance, collectively evaluated for impairment 1,094 1,226 Total allowance for credit losses $ 6,300 $ 7,260 Recorded investment balance, end of period: Individually evaluated for impairment, with or without a related allowance $ 63,187 $ 68,144 Collectively evaluated for impairment 2,738,757 2,789,826 Total recorded investment $ 2,801,944 $ 2,857,970 BOB Loans. Both the probability of default and loss given default are determined and used to estimate the allowance for credit losses on BOB loans. Loss given default is considered to be 100% due to the fact that the BOB program has no collateral or credit enhancement requirements. The probability of default is based on the actual performance of the BOB program. The Bank considers BOB loans that are delinquent to be nonperforming assets. Rollforward of Allowance for Credit Losses. BOB Loans. Three months ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Balance, Beginning of period $ 1,660 $ 2,142 $ 1,840 $ 2,231 (Charge-offs) Recoveries, net (167 ) (155 ) (451 ) (355 ) Provision (benefit) for credit losses 265 (13 ) 369 98 Balance, June 30 $ 1,758 $ 1,974 $ 1,758 $ 1,974 Allowances for Credit Losses and Recorded Investment by Impairment Methodology . BOB Loans. (in thousands) June 30, 2015 December 31, 2014 Ending balance, individually evaluated for impairment $ 44 $ — Ending balance, collectively evaluated for impairment 1,714 1,840 Total allowance for credit losses $ 1,758 $ 1,840 Recorded investment balance, end of period: Individually evaluated for impairment, with or without a related allowance $ 112 $ — Collectively evaluated for impairment 12,752 13,518 Total recorded investment $ 12,864 $ 13,518 Credit Quality Indicators. Key credit quality indicators for mortgage and BOB loans include the migration of past due loans, nonaccrual loans, loans in process of foreclosure, and impaired loans. (in thousands) June 30, 2015 Recorded investment: (1) Conventional MPF Loans Government-Guaranteed or Insured BOB Loans Total Past due 30-59 days $ 40,053 $ 14,892 $ 49 $ 54,994 Past due 60-89 days 8,287 3,737 — 12,024 Past due 90 days or more 31,671 5,149 12 36,832 Total past due loans $ 80,011 $ 23,778 $ 61 $ 103,850 Total current loans 2,721,933 249,383 12,803 2,984,119 Total loans $ 2,801,944 $ 273,161 $ 12,864 $ 3,087,969 Other delinquency statistics: In process of foreclosures, included above (2) $ 25,734 $ 2,721 $ — $ 28,455 Serious delinquency rate (3) 1.1 % 1.9 % 0.1 % 1.2 % Past due 90 days or more still accruing interest $ — $ 5,149 $ — $ 5,149 Loans on nonaccrual status (4) $ 35,158 $ — $ 172 $ 35,330 (in thousands) December 31, 2014 Recorded investment: (1) Conventional MPF Loans Government-Guaranteed or Insured BOB Loans Total Past due 30-59 days $ 50,680 $ 19,238 $ 124 $ 70,042 Past due 60-89 days 11,841 6,034 73 17,948 Past due 90 days or more 41,983 7,024 8 49,015 Total past due loans $ 104,504 $ 32,296 $ 205 $ 137,005 Total current loans 2,753,466 256,606 13,313 3,023,385 Total loans $ 2,857,970 $ 288,902 $ 13,518 $ 3,160,390 Other delinquency statistics: In process of foreclosures, included above (2) $ 26,981 $ 2,389 $ — $ 29,370 Serious delinquency rate (3) 1.5 % 2.4 % 0.1 % 1.6 % Past due 90 days or more still accruing interest $ — $ 7,024 $ — $ 7,024 Loans on nonaccrual status (4) $ 45,900 $ — $ 205 $ 46,105 Notes: (1) The recorded investment in a loan is the unpaid principal balance of the loan, adjusted for charge-offs of estimated losses, accrued interest, net deferred loan fees or costs, unamortized premiums or unaccreted discounts and adjustments for fair value hedges. The recorded investment is not net of any valuation allowance. (2) Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu has been reported. Loans in process of foreclosure are included in past due or current loans dependent on their delinquency status. (3) Loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the total loan portfolio class. (4) Generally represents mortgage loans with contractual principal or interest payments 90 days or more past due and not accruing interest. Individually Evaluated Impaired Loans. Information regarding individually evaluated impaired loans is as follows. As indicated above, these loans include impaired loans considered collateral-dependent. BOB loans are not significant and are excluded from the tables below. June 30, 2015 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance for Credit Losses With no related allowance: Conventional MPF loans $ 35,084 $ 34,763 $ — With a related allowance: Conventional MPF loans 28,103 27,871 5,206 Total: Conventional MPF loans $ 63,187 $ 62,634 $ 5,206 December 31, 2014 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance for Credit Losses With no related allowance: Conventional MPF loans $ 31,749 $ 31,448 $ — With a related allowance: Conventional MPF loans 36,395 36,175 6,034 Total: Conventional MPF loans $ 68,144 $ 67,623 $ 6,034 The table below presents the average recorded investment of individually impaired loans and related interest income recognized. The Bank included the individually impaired loans as of the date on which they became impaired. Three months ended June 30, 2015 Three months ended June 30, 2014 (in thousands) Average Recorded Investment (1) Interest Income Recognized Average Recorded Investment (1) Interest Income Recognized Conventional MPF loans $ 64,133 $ 457 $ 77,444 $ 360 Six months ended June 30, 2015 Six months ended June 30, 2014 (in thousands) Average Recorded Investment (1) Interest Income Recognized Average Recorded Investment (1) Interest Income Recognized Conventional MPF loans $ 64,028 $ 880 $ 78,719 $ 682 Notes: (1) Includes gross charge-offs. Beginning January 1, 2014, with the adoption of AB 2012-02, the Bank now considers all loans that are 180 days or more delinquent or where the borrower has filed for bankruptcy to be individually impaired loans. TDRs. TDRs are considered to have occurred when a concession is granted to the debtor that would not have been considered had it not been for economic or legal reasons related to the debtor's financial difficulties. Mortgage Loans - Conventional MPF. The Bank offers a loan modification program for its MPF Program. The loans modified under this program are considered TDRs. The Bank also considers a TDR to have occurred when a borrower files for Chapter 7 bankruptcy, the bankruptcy court discharges the borrower’s obligation, and the borrower does not reaffirm the debt. As of June 30, 2015 and December 31, 2014 , the recorded investment in mortgage loans classified as TDRs was $15.9 million and $16.8 million , respectively. The financial amounts related to TDRs are not material to the Bank’s financial condition, results of operations, or cash flows. BOB Loans. The Bank offers a BOB loan deferral which the Bank considers a TDR. A deferred BOB loan is not required to pay principal or accrue interest for a period up to one year. The credit loss is measured by factoring expected shortfalls incurred as of the reporting date. BOB loan TDRs are not material to the Bank’s financial condition, results of operations, or cash flows. Real Estate Owned (REO) . The Bank had $5.3 million and $6.9 million of REO reported in Other assets on the Statement of Condition at June 30, 2015 and December 31, 2014 , respectively. Purchases, Sales and Reclassifications. During the six months ended June 30, 2015 and 2014 , there were no significant purchases or sales of financing receivables. Furthermore, none of the financing receivables were reclassified to held-for-sale.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities Nature of Business Activity. The Bank is exposed to interest rate risk primarily from the effect of interest rate changes on its interest-earning assets and funding sources that finance these assets. The goal of the Bank'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 Bank 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 Bank monitors the risk to its interest income, net interest margin and average maturity of interest-earning assets and funding sources. For additional information on the Bank's derivative transactions, see Note 11 to the audited financial statements in the Bank's 2014 Form 10-K. Derivative transactions may be executed either with a counterparty (referred to as bilateral derivatives) or cleared through a Futures Commission Merchant (i.e., clearing agent) or a Swap Execution Facility with a Derivatives Clearing Organization (referred to as cleared derivatives). Once a derivative transaction has been accepted for clearing by a Derivative Clearing Organization (Clearing House), the derivative transaction is novated and the executing counterparty is replaced with the Clearing House. The Bank is not a derivatives dealer and does not trade derivatives for short-term profit. For bilateral derivatives, the Bank transacts most of its derivatives with large banks and major broker-dealers. Some of these banks and broker-dealers or their affiliates buy, sell, and distribute consolidated obligations. Financial Statement Effect and Additional Financial Information. The following tables summarize the notional and fair value of derivative instruments as of June 30, 2015 and December 31, 2014 . June 30, 2015 (in thousands) Notional Amount of Derivatives Derivative Assets Derivative Liabilities Derivatives in hedge accounting relationships: Interest rate swaps $ 35,609,121 $ 94,745 $ 341,487 Derivatives not in hedge accounting relationships: Interest rate swaps $ 10,264,391 $ 23,315 $ 43,037 Interest rate swaptions 25,000 109 — Interest rate caps 725,000 3,639 — Mortgage delivery commitments 23,337 477 — Total derivatives not in hedge accounting relationships $ 11,037,728 $ 27,540 $ 43,037 Total derivatives before netting and collateral adjustments $ 46,646,849 $ 122,285 $ 384,524 Netting adjustments and cash collateral (1) (58,133 ) (321,149 ) Derivative assets and derivative liabilities as reported on the Statement of Condition $ 64,152 $ 63,375 December 31, 2014 (in thousands) Notional Amount of Derivatives Derivative Assets Derivative Liabilities Derivatives in hedge accounting relationships: Interest rate swaps $ 32,196,669 $ 84,205 $ 414,760 Derivatives not in hedge accounting relationships: Interest rate swaps $ 11,937,989 $ 21,396 $ 52,925 Interest rate swaptions 25,000 1,312 — Interest rate caps 675,000 4,425 — Mortgage delivery commitments 18,308 434 — Total derivatives not in hedge accounting relationships $ 12,656,297 $ 27,567 $ 52,925 Total derivatives before netting and collateral adjustments $ 44,852,966 $ 111,772 $ 467,685 Netting adjustments and cash collateral (1) (75,555 ) (408,721 ) Derivative assets and derivative liabilities as reported on the Statement of Condition $ 36,217 $ 58,964 Note: (1) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparties. Cash collateral posted was $265.6 million and $345.0 million at June 30, 2015 and December 31, 2014. Cash collateral received was $2.6 million and $11.8 million at June 30, 2015 and December 31, 2014. The following table presents the components of net gains (losses) on derivatives and hedging activities as presented in the Statements of Income. Three months ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Derivatives designated as hedging instruments: Interest rate swaps $ 2,812 $ 1,415 $ 3,397 $ 1,927 Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps $ 20,093 $ (18,764 ) $ 4,243 $ (34,537 ) Interest rate swaptions 26 313 165 265 Interest rate caps (620 ) (1,987 ) (908 ) (3,541 ) Net interest settlements 4,226 7,138 9,918 13,549 Mortgage delivery commitments 2,591 2,377 4,734 3,623 Other 5 5 12 12 Total net gains (losses) related to derivatives not designated as hedging instruments $ 26,321 $ (10,918 ) $ 18,164 $ (20,629 ) Net gains (losses) on derivatives and hedging activities $ 29,133 $ (9,503 ) $ 21,561 $ (18,702 ) The following tables present, 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 Bank’s net interest income for the three and six months ended June 30, 2015 and 2014 . (in thousands) Gains/(Losses) on Derivative Gains/(Losses) on Hedged Item Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income (1) Three months ended June 30, 2015 Hedged item type: Advances $ 62,731 $ (62,164 ) $ 567 $ (48,368 ) Consolidated obligations – bonds (38,730 ) 38,775 45 62,223 AFS securities 29,259 (27,059 ) 2,200 (4,330 ) Total $ 53,260 $ (50,448 ) $ 2,812 $ 9,525 Six months ended June 30, 2015 Hedged item type: Advances $ 52,718 $ (51,989 ) $ 729 $ (95,362 ) Consolidated obligations – bonds 15,860 (15,120 ) 740 123,838 AFS securities 17,524 (15,596 ) 1,928 (7,762 ) Total $ 86,102 $ (82,705 ) $ 3,397 $ 20,714 (in thousands) Gains/(Losses) on Derivative Gains/(Losses) on Hedged Item Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income (1) Three months ended June 30, 2014 Hedged item type: Advances $ 12,666 $ (12,372 ) $ 294 $ (56,605 ) Consolidated obligations – bonds 64,589 (62,955 ) 1,634 59,112 AFS securities (9,707 ) 9,194 (513 ) (2,891 ) Total $ 67,548 $ (66,133 ) $ 1,415 $ (384 ) Six months ended June 30, 2014 Hedged item type: Advances $ 60,676 $ (59,635 ) $ 1,041 $ (116,995 ) Consolidated obligations – bonds 110,385 (108,610 ) 1,775 113,549 AFS securities (18,844 ) 17,955 (889 ) (5,435 ) Total $ 152,217 $ (150,290 ) $ 1,927 $ (8,881 ) Note: (1) Represents the net interest settlements on derivatives in fair value hedge relationships presented in the interest income/expense line item of the respective hedged item. These amounts do not include $0.9 million and $4.5 million for the second quarter 2015 and 2014, respectively, and $2.9 million and $8.0 million for the six months ended June 30, 2015 and 2014, respectively, of amortization/accretion of the basis adjustment related to discontinued fair value hedging relationships. The Bank had no active cash flow hedging relationships during the first six months of 2015 or 2014 . Managing Credit Risk on Derivatives. The Bank is subject to credit risk due to the risk of nonperformance by counterparties to its derivative transactions. The Bank manages counterparty credit risk through credit analysis, collateral requirements, and adherence to the requirements set forth in its policies, U.S. Commodity Futures Trading Commission regulations, and Finance Agency regulations. For bilateral derivatives, the degree of credit risk depends on the extent to which netting arrangements are included in such contracts to mitigate the risk. The Bank requires collateral agreements with collateral delivery thresholds on all bilateral derivatives. For cleared derivatives, the Clearing Houses are the Bank's counterparties. The Clearing House notifies the clearing agent of the required initial and variation margin and the clearing agent notifies the FHLBank of the required initial and variation margin. The requirement that the Bank post initial and variation margin through the clearing agent, on behalf of the Clearing Houses, exposes the Bank to institutional credit risk in the event that the clearing agent or the Clearing Houses fail to meet their respective obligations. Initial margin is the amount calculated based on anticipated exposure to future changes in the value of a swap and protects the Clearing Houses from market risk in the event of default by one of their respective clearing agents. Variation margin is the amount calculated to cover the current exposure arising from changes in the market value of the position since the trade was executed or the previous time the position was marked to market. The use of cleared derivatives is intended to mitigate credit risk exposure because a central counterparty is substituted for individual counterparties and collateral is posted daily, through a clearing agent, for changes in the value of cleared derivatives. The Bank 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 a bankruptcy, insolvency or similar proceeding involving the Clearing Houses or the Bank’s clearing agent, or both. Based on this analysis, the Bank presents a net derivative receivable or payable for all of its transactions through a particular clearing agent with a particular Clearing House. Based on credit analyses and collateral requirements, the Bank does not anticipate credit losses related to its derivative agreements. See Note 13 - Estimated Fair Values for discussion regarding the Bank's fair value methodology for derivative assets and liabilities, including an evaluation of the potential for the fair value of these instruments to be affected by counterparty credit risk. Generally, the Bank’s ISDA agreements for bilateral derivatives contain provisions that require the Bank to post additional collateral with its counterparties if there is deterioration in the Bank's credit rating and the net liability position exceeds the relevant threshold. If the Bank’s credit rating is lowered by a major credit rating agency, the Bank would be required to deliver additional collateral on bilateral derivative instruments in net liability positions. The aggregate fair value of all bilateral derivative instruments with credit-risk related contingent features that were in a net liability position (before cash collateral and related accrued interest) at June 30, 2015 was $159.6 million , for which the Bank has posted cash collateral with a fair value of approximately $97.4 million . If the Bank’s credit rating had been lowered one notch (i.e., from its current rating to the next lower rating), the Bank would have been required to deliver up to an additional $21.1 million of collateral to its derivative counterparties at June 30, 2015 . For cleared derivatives, the Clearing House determines initial margin requirements and generally credit ratings are not factored into the initial margin. However, clearing agents may require additional initial margin to be posted based on credit considerations, including but not limited to credit rating downgrades. The Bank was not required to post additional initial margin by its clearing agents at June 30, 2015 . Offsetting of Derivative Assets and Derivative Liabilities. The Bank 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. The following tables present separately the fair value of derivative instruments meeting or not meeting netting requirements, including the related collateral received from or pledged to counterparties. Derivative Assets (in thousands) June 30, 2015 December 31, 2014 Derivative instruments meeting netting requirements: Gross recognized amount: Bilateral derivatives $ 67,039 $ 102,570 Cleared derivatives 54,769 8,768 Total gross recognized amount 121,808 111,338 Gross amounts of netting adjustments and cash collateral: Bilateral derivatives (65,288 ) (96,286 ) Cleared derivatives 7,155 20,731 Total gross amounts of netting adjustments and cash collateral (58,133 ) (75,555 ) Net amounts after netting adjustments: Bilateral derivatives 1,751 6,284 Cleared derivatives 61,924 29,499 Total net amounts after netting adjustments 63,675 35,783 Derivative instruments not meeting netting requirements: (1) Bilateral derivatives 477 434 Cleared derivatives — — Derivative instruments not meeting netting requirements 477 434 Total derivative assets Bilateral derivatives 2,228 6,718 Cleared derivatives 61,924 29,499 Total derivative assets as reported in the Statement of Condition 64,152 36,217 Non-cash collateral received or pledged not offset: Can be sold or repledged Bilateral derivatives — (636 ) Cleared derivatives — — Non-cash Collateral received or pledged - Can be sold or repledged — (636 ) Net unsecured amount: Bilateral derivatives 2,228 6,082 Cleared derivatives 61,924 29,499 Total net unsecured amount $ 64,152 $ 35,581 Derivative Liabilities (in thousands) June 30, 2015 December 31, 2014 Derivative instruments meeting netting requirements: Gross recognized amount: Bilateral derivatives $ 223,521 $ 283,979 Cleared derivatives 161,003 183,706 Total gross recognized amount 384,524 467,685 Gross amounts of netting adjustments and cash collateral: Bilateral derivatives (160,146 ) (225,015 ) Cleared derivatives (161,003 ) (183,706 ) Total gross amounts of netting adjustments and cash collateral (321,149 ) (408,721 ) Net amounts after netting adjustments: Bilateral derivatives 63,375 58,964 Cleared derivatives — — Total net amounts after offsetting adjustments 63,375 58,964 Total derivative liabilities Bilateral derivatives 63,375 58,964 Cleared derivatives — — Total derivative liabilities as reported in the Statement of Condition 63,375 58,964 Net unsecured amount: Bilateral derivatives 63,375 58,964 Net unsecured amount $ 63,375 $ 58,964 Notes: (1) Represents derivatives that are not subject to an enforceable netting agreement (e.g., mortgage delivery commitments and certain interest-rate futures or forwards).

Consolidated Obligations

Consolidated Obligations	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Consolidated Obligations	Consolidated Obligations Consolidated obligations consist of consolidated bonds and discount notes. The Bank records as a liability its specific portion of consolidated obligations for which it is the primary obligor. Although the Bank is primarily liable for its portion of consolidated obligations, the Bank is also jointly and severally liable with the other ten FHLBanks for the payment of principal and interest on all consolidated obligations of each of the FHLBanks. The Finance Agency, at its discretion, may require any FHLBank to make principal or interest payments due on any consolidated obligations whether or not the consolidated obligation represents a primary liability of such FHLBank. Although an FHLBank has never paid the principal or interest payments due on a consolidated obligation on behalf of another FHLBank, if one FHLBank is required to make such payments on behalf of another FHLBank, Finance Agency regulations provide that the paying FHLBank is entitled to reimbursement from the non-complying FHLBank for any payments made on its behalf and other associated costs including interest to be determined by the Finance Agency. However, if the Finance Agency determines that the non-complying FHLBank is unable to satisfy its repayment obligations, then the Finance Agency may allocate the outstanding liabilities of the non-complying FHLBank among the remaining FHLBanks on a pro rata basis in proportion to each FHLBank’s participation in all consolidated obligations outstanding. The Finance Agency reserves the right to allocate the outstanding liabilities for the consolidated obligations among the FHLBanks in any other manner it may determine to ensure that the FHLBanks operate in a safe and sound manner. The par amount of the FHLBanks’ outstanding consolidated obligations were $852.8 billion and $847.2 billion at June 30, 2015 and December 31, 2014 , respectively. Additional detailed information regarding consolidated obligations including general terms and interest rate payment terms can be found in Note 14 to the audited financial statements in the Bank's 2014 Form 10-K. The following table details interest rate payment terms for the Bank's consolidated obligation bonds as of June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Par value of consolidated bonds: Fixed-rate $ 37,472,066 $ 36,296,100 Step-up 3,040,000 3,116,000 Floating-rate 6,925,000 4,190,000 Conversion bonds - fixed to floating 10,000 — Total par value 47,447,066 43,602,100 Bond premiums 131,412 147,824 Bond discounts (9,707 ) (12,111 ) Hedging adjustments (15,824 ) (23,303 ) Total book value $ 47,552,947 $ 43,714,510 Maturity Terms. The following table presents a summary of the Bank’s consolidated obligation bonds outstanding by year of contractual maturity as of June 30, 2015 and December 31, 2014 . June 30, 2015 December 31, 2014 (dollars in thousands) Year of Contractual Maturity Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Due in 1 year or less $ 16,219,835 0.65 % $ 15,033,450 1.00 % Due after 1 year through 2 years 10,781,985 1.20 9,316,860 1.42 Due after 2 years through 3 years 8,813,735 1.52 5,346,515 1.64 Due after 3 years through 4 years 2,338,620 1.53 4,709,300 1.50 Due after 4 years through 5 years 3,998,720 1.83 2,911,350 1.72 Thereafter 5,110,150 2.42 5,959,265 2.35 Index amortizing notes 184,021 4.72 325,360 4.14 Total par value $ 47,447,066 1.28 % $ 43,602,100 1.48 % The following table presents the Bank’s consolidated obligation bonds outstanding between noncallable and callable as of June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Noncallable $ 33,664,066 $ 30,388,100 Callable 13,783,000 13,214,000 Total par value $ 47,447,066 $ 43,602,100 The following table presents consolidated obligation bonds outstanding by the earlier of contractual maturity or next call date as of June 30, 2015 and December 31, 2014 . (in thousands) Year of Contractual Maturity or Next Call Date June 30, 2015 December 31, 2014 Due in 1 year or less $ 29,892,835 $ 28,232,450 Due after 1 year through 2 years 9,394,985 8,114,860 Due after 2 years through 3 years 4,691,735 3,551,515 Due after 3 years through 4 years 1,259,620 1,390,300 Due after 4 years through 5 years 1,118,720 1,028,350 Thereafter 905,150 959,265 Index amortizing notes 184,021 325,360 Total par value $ 47,447,066 $ 43,602,100 Consolidated Obligation Discount Notes. Consolidated obligation discount notes are issued to raise short-term funds. Discount notes are consolidated obligations with original maturities up to one year. These notes are issued at less than their face amount and redeemed at par value when they mature. The following table details the Bank’s consolidated obligation discount notes as of June 30, 2015 and December 31, 2014 . (dollars in thousands) June 30, 2015 December 31, 2014 Book value $ 41,061,124 $ 37,058,118 Par value 41,069,968 37,065,745 Weighted average interest rate (1) 0.11 % 0.10 % Note: (1) Represents an implied rate.

Capital

Capital	6 Months Ended
	Jun. 30, 2015
Capital [Abstract]
Capital	Capital The Bank is subject to three capital requirements under its current Capital Plan structure and the Finance Agency rules and regulations: (1) risk-based capital; (2) total regulatory capital; and (3) leverage capital. Regulatory capital does not include AOCI but does include mandatorily redeemable capital stock. See details regarding these requirements and the Bank’s Capital Plan in Note 16 to the audited financial statements in the Bank’s 2014 Form 10-K. At June 30, 2015 , the Bank was in compliance with all regulatory capital requirements. The Bank has two subclasses of capital stock: B1 membership stock and B2 activity stock. Subclass B1 membership stock totaled $329.6 million and $290.4 million at June 30, 2015 and December 31, 2014 , respectively. Subclass B2 activity stock was $3.096 billion and $2.751 billion at June 30, 2015 and December 31, 2014 , respectively. The following table demonstrates the Bank’s compliance with its regulatory capital requirements at June 30, 2015 and December 31, 2014 . June 30, 2015 December 31, 2014 (dollars in thousands) Required Actual Required Actual Regulatory capital requirements: Risk-based capital $ 809,763 $ 4,280,552 $ 847,424 $ 3,879,108 Total capital-to-asset ratio 4.0 % 4.6 % 4.0 % 4.5 % Total regulatory capital 3,761,578 4,280,552 3,427,083 3,879,108 Leverage ratio 5.0 % 6.8 % 5.0 % 6.8 % Leverage capital 4,701,973 6,420,828 4,283,854 5,818,663 When the Finance Agency implemented the prompt corrective action provisions of the Housing and Economic Recovery Act of 2008 (Housing Act), it established four capital classifications for the FHLBanks: adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized. On June 24, 2015, the Bank received final notification from the Finance Agency that it was considered "adequately capitalized" for the quarter ended March 31, 2015. As of the date of this filing, the Bank has not received final notice from the Finance Agency regarding its capital classification for the quarter ended June 30, 2015 . Capital Concentrations. The following tables present member holdings of 10% or more of the Bank’s total capital stock, including mandatorily redeemable capital stock, outstanding as of June 30, 2015 and December 31, 2014 . (dollars in thousands) June 30, 2015 Member (1) Capital Stock % of Total PNC Bank, N.A., Wilmington, DE $ 964,805 28.2 % Santander Bank, N.A., Wilmington, DE 425,977 12.4 Chase Bank USA, N.A.,Wilmington, DE 424,722 12.4 (dollars in thousands) December 31, 2014 Member (1) Capital Stock % of Total PNC Bank, N.A., Wilmington, DE $ 876,305 28.8 % Santander Bank, N.A., Wilmington, DE 424,955 14.0 Chase Bank USA, N.A.,Wilmington, DE 362,050 11.9 Note: (1) For Bank membership purposes, the principal place of business for PNC Bank, N.A. is Pittsburgh, PA. Mandatorily Redeemable Capital Stock. Each FHLBank is a cooperative whose member financial institutions and former members own all of the relevant FHLBank's issued and outstanding capital stock. Shares cannot be purchased or sold except between an FHLBank and its members at the shares' $100 per share par value, as mandated by each FHLBank's capital plan. At June 30, 2015 and December 31, 2014 , the Bank had $562 thousand and $586 thousand , respectively, in capital stock subject to mandatory redemption with payment subject to a five -year waiting period and the Bank meeting its minimum regulatory capital requirements. Estimated dividends on mandatorily redeemable capital stock which were recorded as interest expense were immaterial during June 30, 2015 and 2014 . The following table provides the related dollar amounts for activities recorded in mandatorily redeemable capital stock during the six months ended June 30, 2015 and 2014. Six months ended June 30, (in thousands) 2015 2014 Balance, beginning of the period $ 586 $ 40 Capital stock subject to mandatory redemption reclassified from capital stock: Due to withdrawals (includes mergers) — 8,422 Net redemption/repurchase of mandatorily redeemable capital stock (24 ) (5,572 ) Balance, end of period $ 562 $ 2,890 As of June 30, 2015 , the total mandatorily redeemable capital stock reflected the balance for two institutions, one of which was merged out of district and is considered to be a nonmember. The other institution has notified the Bank of its intention to voluntary redeem its capital stock and withdraw from membership. This institution will continue to be a member of the Bank until the withdrawal period is completed. The following table shows the amount of mandatorily redeemable capital stock by contractual year of redemption at June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Due in 1 year or less $ — $ — Due after 1 year through 2 years — — Due after 2 years through 3 years — — Due after 3 years through 4 years 562 — Due after 4 years through 5 years — 586 Total $ 562 $ 586 The year of redemption in the table above is the end of the five-year redemption period for the mandatorily redeemable capital stock. Under the Finance Agency regulations and the terms of the Bank's Capital Plan, capital stock supporting advances and other activity with the Bank (e.g., letters of credit, mortgage loans, etc.) is not redeemable prior to the payoff or maturity of the associated advance or other activity, which may extend beyond five years. Dividends and Retained Earnings. Each FHLBank is required to contribute 20% of its net income each quarter to a restricted retained earnings (RRE) account until the balance of that account equals at least 1% of that FHLBank's average balance of outstanding consolidated obligations for the previous quarter. These RRE will not be available to pay dividends. At June 30, 2015 , retained earnings were $854.8 million , including $713.2 million of unrestricted retained earnings and $141.6 million of RRE. The Finance Agency has issued regulatory guidance to the FHLBanks relating to capital management and retained earnings. The guidance directs each FHLBank to assess, at least annually, the adequacy of its retained earnings with consideration given to future possible financial and economic scenarios. The guidance also outlines the considerations that each FHLBank should undertake in assessing the adequacy of the Bank’s retained earnings. The Bank’s retained earnings policy and capital adequacy metric utilize this guidance. Dividends paid by the Bank are subject to Board approval and may be paid in either capital stock or cash; historically, the Bank has paid cash dividends only. In both April and July 2015, the Bank paid quarterly dividends equal to an annual yield of 5.0% and 3.0% on activity stock and membership stock, respectively. These dividends were based on stockholders' average balances for the previous quarter. The following table summarizes the changes in AOCI for the three months ended June 30, 2015 and 2014. (in thousands) Net Unrealized Gains(Losses) on AFS Non-credit OTTI Gains(Losses) on AFS Non-credit OTTI Gains(Losses) on HTM Net Unrealized Gains (Losses) on Hedging Activities Pension and Post-Retirement Plans Total March 31, 2014 $ (7,953 ) $ 79,085 $ — $ 287 $ (1,069 ) $ 70,350 Other comprehensive income (loss) before reclassification: Net unrealized gains 30,696 16,596 — — — 47,292 Net change in fair value of OTTI securities — 954 — — — 954 Reclassifications from OCI to net income: Amortization on hedging activities — — — (1) — (1 ) Pension and post-retirement — — — — 40 40 June 30, 2014 $ 22,743 $ 96,635 $ — $ 286 $ (1,029 ) $ 118,635 March 31, 2015 $ 54,948 $ 96,512 $ — $ 264 $ (2,668 ) $ 149,056 Other comprehensive income (loss) before reclassification: Net unrealized gains (losses) (24,755 ) (9,372 ) — — — (34,127 ) Noncredit OTTI losses transferred — (1,026 ) 1,026 — — — Net change in fair value of OTTI securities — (1,864 ) — — — (1,864 ) Reclassifications from OCI to net income: Noncredit component of OTTI losses — — (1,026 ) — — (1,026 ) Amortization on hedging activities — — — (4 ) — (4 ) Pension and post-retirement — — — — 82 82 June 30, 2015 $ 30,193 $ 84,250 $ — $ 260 $ (2,586 ) $ 112,117 The following table summarizes the changes in AOCI for the six months ended June 30, 2015 and 2014. (in thousands) Net Unrealized Gains(Losses) on AFS Non-credit OTTI Gains(Losses) on AFS Non-credit OTTI Gains(Losses) on HTM Net Unrealized Gains (Losses) on Hedging Activities Pension and Post-Retirement Plans Total December 31, 2013 $ (32,481 ) $ 77,642 $ — $ 287 $ (1,108 ) $ 44,340 Other comprehensive income (loss) before Net unrealized gains 55,224 16,021 — — — 71,245 Net change in fair value of OTTI securities — 2,972 — — — 2,972 Reclassifications from OCI to net income: Amortization on hedging activities — — — (1 ) — (1 ) Pension and post-retirement — — — — 79 79 June 30, 2014 $ 22,743 $ 96,635 $ — $ 286 $ (1,029 ) $ 118,635 December 31, 2014 $ 32,460 $ 94,451 $ — $ 272 $ (2,750 ) $ 124,433 Other comprehensive income (loss) before Net unrealized gains (losses) (2,267 ) (8,017 ) — — — (10,284 ) Noncredit OTTI losses transferred — (1,026 ) 1,026 — — — Net change in fair value of OTTI securities — (1,158 ) — — — (1,158 ) Reclassifications from OCI to net income: Noncredit component of OTTI losses — — (1,026 ) — — (1,026 ) Amortization on hedging activities — — — (12 ) — (12 ) Pension and post-retirement — — — — 164 164 June 30, 2015 $ 30,193 $ 84,250 $ — $ 260 $ (2,586 ) $ 112,117

Transactions with Related Parti

Transactions with Related Parties	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Transactions with Related Parties	Transactions with Related Parties The following table includes significant outstanding related party member balances. (in thousands) June 30, 2015 December 31, 2014 Investments $ 148,335 $ 157,025 Advances 42,812,880 38,765,267 Letters of credit (1) 9,283,970 9,608,983 MPF loans 1,184,879 1,326,807 Deposits 10,292 13,678 Capital stock 1,885,879 1,714,432 Note: (1) Letters of credit are off-balance sheet commitments. The following table summarizes the effects on the Statement of Income corresponding to the related party member balances above. Amounts related to Federal funds sold, interest income on investments, and interest expense on deposits were immaterial for the periods presented. Three months ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Interest income on advances (1) $ 44,843 $ 33,778 $ 83,896 $ 66,581 Interest income on MPF loans 16,646 21,124 34,269 42,430 Letter of credit fees 3,819 1,971 6,847 3,853 Prepayment fees on advances — — — 3,090 Note: (1) For the three and six months ended June 30, 2015 , balances include contractual interest income of $78.6 million and $151.4 million , net interest settlements on derivatives in fair value hedge relationships of $(33.6) million and $(67.0) million and total amortization of basis adjustments of $(0.2) million and $(0.6) million . For the three and six months ended June 30, 2014 , balances include contractual interest income of $79.1 million and $162.7 million , net interest settlements on derivatives in fair value hedge relationships of $(44.8) million and $(93.5) million and total amortization of basis adjustments of $(0.5) million and $(2.6) million . The following table includes the MPF activity of the related party members. Three months ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Total MPF loan volume purchased $ 5,438 $ 432 $ 6,845 $ 1,321 The following table summarizes the effect of the MPF activities with FHLBank of Chicago. Three months ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Servicing fee expense $ 284 $ 242 $ 552 $ 479 (in thousands) June 30, 2015 December 31, 2014 Interest-bearing deposits maintained with FHLBank of Chicago $ 6,485 $ 6,782 From time to time, the Bank may borrow from or lend to other FHLBanks on a short-term uncollateralized basis. During the six months ended June 30, 2015 and 2014 , there was no borrowing or lending activity between the Bank and other FHLBanks. Subject to mutually agreed upon terms, on occasion, an FHLBank may transfer its primary debt obligations to another FHLBank, which becomes the primary obligor on the transferred debt upon completion of the transfer. During the six months ended June 30, 2015 and 2014 , there were no transfers of debt between the Bank and another FHLBank. From time to time, a member of one FHLBank may be acquired by a member of another FHLBank. When such an acquisition occurs, the two FHLBanks may agree to transfer at fair value the loans of the acquired member to the FHLBank of the surviving member. The FHLBanks may also agree to the purchase and sale of any related hedging instrument. The Bank had no such activity during the six months ended June 30, 2015 and 2014 . Additional discussions regarding related party transactions can be found in Note 19 to the audited financial statements in the Bank's 2014 Form 10-K.

Estimated Fair Values

Estimated Fair Values	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Estimated Fair Values	Estimated Fair Values Fair value amounts have been determined by the Bank using available market information and appropriate valuation methods. These estimates are based on recent market data and other pertinent information available to the Bank at June 30, 2015 and December 31, 2014 . Although the management of the Bank believes that the valuation methods are appropriate and provide a reasonable determination of the fair value of these financial instruments, there are inherent limitations in any valuation technique. Therefore, these fair values are not necessarily equal to the amounts that would be realized in current market transactions, although they do reflect the Bank’s judgment of how a market participant would estimate the fair values. The carrying value and estimated fair value of the Bank’s financial instruments at June 30, 2015 and December 31, 2014 are presented in the table below. Fair Value Summary Table June 30, 2015 (in thousands) Carrying Value Level 1 Level 2 Level 3 Netting Adjust. (2) Estimated Fair Value Assets: Cash and due from banks $ 5,377,254 $ 5,377,254 $ — $ — $ — $ 5,377,254 Interest-bearing deposits 6,485 — 6,485 — — 6,485 Federal funds sold 2,810,000 — 2,809,992 — — 2,809,992 Trading securities 369,976 5,239 364,737 — — 369,976 AFS securities 7,858,609 1,998 6,938,215 918,396 — 7,858,609 HTM securities 2,869,192 — 2,319,426 586,675 — 2,906,101 Advances 71,489,152 — 71,516,603 — — 71,516,603 Mortgage loans held for portfolio, net 3,052,971 — 3,215,254 — — 3,215,254 BOB loans, net 11,022 — — 11,022 — 11,022 Accrued interest receivable 93,983 — 93,983 — — 93,983 Derivative assets 64,152 — 122,285 — (58,133 ) 64,152 Liabilities: Deposits $ 670,358 $ — $ 670,364 $ — $ — $ 670,364 Discount notes 41,061,124 — 41,063,548 — — 41,063,548 Bonds 47,552,947 — 47,712,440 — — 47,712,440 Mandatorily redeemable capital stock (1) 562 569 — — — 569 Accrued interest payable (1) 103,761 — 103,754 — — 103,754 Derivative liabilities 63,375 — 384,524 — (321,149 ) 63,375 December 31, 2014 (in thousands) Carrying Value Level 1 Level 2 Level 3 Netting Adjust. (2) Estimated Fair Value Assets: Cash and due from banks $ 2,451,131 $ 2,451,131 $ — $ — $ — $ 2,451,131 Interest-bearing deposits 6,782 — 6,782 — — 6,782 Federal funds sold 4,585,000 — 4,584,981 — — 4,584,981 Trading securities 281,016 4,721 276,295 — — 281,016 AFS securities 8,408,835 1,998 7,424,055 982,782 — 8,408,835 HTM securities 3,246,788 — 2,600,638 685,909 — 3,286,547 Advances 63,408,355 — 63,471,078 — — 63,471,078 Mortgage loans held for portfolio, net 3,123,334 — 3,312,186 — — 3,312,186 BOB loans, net 11,567 — — 11,567 — 11,567 Accrued interest receivable 86,109 — 86,109 — — 86,109 Derivative assets 36,217 — 111,772 — (75,555 ) 36,217 Liabilities: Deposits $ 641,180 $ — $ 641,183 $ — $ — $ 641,183 Discount notes 37,058,118 — 37,059,347 — — 37,059,347 Bonds 43,714,510 — 43,881,951 — — 43,881,951 Mandatorily redeemable capital stock (1) 586 705 — — — 705 Accrued interest payable (1) 103,151 — 103,032 — — 103,032 Derivative liabilities 58,964 — 467,685 — (408,721 ) 58,964 Notes: (1) The estimated fair value amount for the mandatorily redeemable capital stock line item includes accrued dividend interest; this amount is excluded from the estimated fair value for the accrued interest payable line item. (2) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions and also cash collateral held or placed by the Bank with the same clearing agent and/or counterparties. Fair Value Hierarchy. The fair value hierarchy is used to prioritize the inputs used to measure fair value for those assets and liabilities carried at fair value on the Statement of Condition. The inputs are evaluated and an overall level for the fair value measurement is determined. This overall level is an indication of the market observability of the fair value measurement for the asset or liability. The 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 or in which little information is released publicly; (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 Bank reviews its fair value hierarchy classifications on a quarterly basis. Changes in the observability of the valuation inputs may result in a reclassification of certain assets or liabilities. These reclassifications are reported as transfers in/out as of the beginning of the quarter in which the changes occur. There were no such transfers during the six months ended June 30, 2015 and 2014 . Summary of Valuation Methodologies and Primary Inputs Cash and Due from Banks. The fair values equal the carrying values. Interest Bearing Deposits. The fair value is determined by calculating the present value of the future cash flows. The discount rates used in these calculations are the rates for interest-bearing deposits with similar terms. Federal Funds Sold. The fair value of Federal funds sold is determined by calculating the present value of the future cash flows. The discount rates used in these calculations are the rates for Federal funds with similar terms. Investment Securities – non-MBS. The Bank uses the income approach to determine the estimated fair value of non-MBS investment securities. The significant inputs include a market-observable interest rate curve and a discount spread, if applicable. The market-observable interest rate curves used by the Bank and the related instrument types they measure are as follows: • Treasury curve: U.S. Treasury obligations • LIBOR Swap curve: certificates of deposit • CO curve: Government-sponsored enterprises, state and local agency, and other U.S. obligations Investment Securities – MBS. To value MBS holdings, the Bank obtains prices from four designated third-party pricing vendors, when available. The pricing vendors use various proprietary models to price MBS. The inputs to those models are derived from various sources including, but not limited to: benchmark yields, reported trades, dealer estimates, issuer spreads, benchmark securities, bids, offers and other market-related data. Since many MBS do not trade on a daily basis, the pricing vendors use available information such as benchmark curves, benchmarking of like securities, sector groupings and matrix pricing to determine the prices for individual securities, as applicable. Each pricing vendor has an established challenge process in place for all MBS valuations, which facilitates resolution of potentially erroneous prices identified by the Bank. During the year, the Bank conducts reviews of the four pricing vendors to enhance its understanding of the vendors' pricing processes, methodologies and control procedures for agency and private label MBS. To the extent available, the Bank also reviews the vendors' independent auditors' reports regarding the internal controls over their valuation processes. The Bank's valuation technique first requires the establishment of a median price for each security. All prices that are within a specified tolerance threshold of the median price are included in the cluster of prices that are averaged to compute a default price. Prices that are outside the threshold (outliers) are subject to further analysis (including, but not limited to, comparison to prices provided by an additional third-party valuation service, prices for similar securities, and/or non-binding dealer estimates) to determine if an outlier is a better estimate of fair value. If an outlier (or some other price identified in the analysis) is determined to be a better estimate of fair value, then the outlier (or the other price as appropriate) is used as the final price rather than the default price. If, on the other hand, the analysis confirms that an outlier (or outliers) is (are) in fact not representative of fair value and the default price is the best estimate, then the default price is used as the final price. In all cases, the final price is used to determine the fair value of the security. If all prices received for a security are outside the tolerance threshold level of the median price, then there is no default price, and the final price is determined by an evaluation of all outlier prices as described above. The Bank also reviewed the final fair value estimates of its private label MBS holdings as of June 30, 2015 for reasonableness using an implied yield test. On certain securities, the Bank calculated an implied yield using the estimated fair value derived from the process described above and the security's projected cash flows from the Bank's OTTI process and compared such yield to the market yield to dealer sources to the extent comparable market yield data was available. This analysis did not indicate that any adjustments to the fair value estimates were necessary. As of June 30, 2015 , four vendor prices were received for a majority of the Bank's MBS holdings, and the final prices for a majority of those securities were computed by averaging the four prices. Based on the Bank's reviews of the pricing methods including inputs and controls employed by the third-party pricing vendors and the relative lack of dispersion among the vendor prices (or, in those instances in which there were outliers or significant yield variances, the Bank's additional analyses), the Bank believes the final prices are representative of the prices that would have been received if the assets had been sold at the measurement date (i.e., exit prices), and further that the fair value measurements are classified appropriately in the fair value hierarchy. Based on the current lack of significant market activity for private label residential MBS, the Bank believes that as of June 30, 2015 , private label residential MBS inputs should be classified as Level 3. Mutual Funds Offsetting Deferred Compensation and Employee Benefit Plan Obligations. Fair values for publicly traded mutual funds are based on quoted market prices. Advances. The Bank determines the fair value by calculating the present value of expected future cash flows from the advances. The discount rates used in these calculations are equivalent to the replacement advance rates for advances with similar terms. The inputs used to determine fair value of advances are the LIBOR curve, a volatility assumption for advances with optionality, and a spread adjustment. Mortgage Loans Held For Portfolio. The fair value is determined based on quoted market prices for new MBS issued by U.S. GSEs. Prices are then adjusted for differences in coupon, seasoning and credit quality between the Bank’s mortgage loans and the referenced MBS. The prices of the referenced MBS are highly dependent upon the underlying prepayment assumptions priced in the secondary market. Accrued Interest Receivable and Payable. The fair values approximate the carrying values. Derivative Assets/Liabilities. The Bank bases the fair values of derivatives with similar terms on market prices, when available. However, market prices do not exist for many types of derivative instruments. Consequently, fair values for these instruments are estimated using standard valuation techniques such as discounted cash flow analysis and comparisons to similar instruments. Estimates developed using these methods are highly subjective and require judgment regarding significant matters such as the amount and timing of future cash flows, volatility of interest rates and the selection of discount rates that appropriately reflect market and credit risks. The Bank is subject to credit risk on bilateral derivatives transactions due to the potential nonperformance by the derivatives counterparties. To mitigate this risk, the Bank has entered into netting arrangements for its bilateral derivative transactions. In addition, the Bank has entered into bilateral security agreements with all active derivatives counterparties that provide for delivery of collateral at specified levels tied to those counterparties’ credit ratings to limit the Bank’s net unsecured credit exposure to these counterparties. For cleared derivatives, the Bank's credit risk exposure is mitigated because a central counterparty is substituted for individual counterparties and collateral is posted daily for changes in the value of cleared derivatives. The Bank has evaluated the potential for the fair value of the instruments to be affected by counterparty credit risk and has determined that no adjustments were significant or necessary to the overall fair value measurements. The fair values of the Bank’s derivative assets and liabilities include accrued interest receivable/payable and cash collateral remitted to/received from counterparties. The estimated fair values of the accrued interest receivable/payable and cash collateral approximate their carrying values due to their short-term nature. The fair values of derivatives are netted by clearing agent and/or by counterparty pursuant to the provisions of each of the Bank’s netting agreements. If these netted amounts are positive, they are classified as an asset; if negative, a liability. The discounted cash flow analysis used to determine the fair value of derivative instruments utilizes market-observable inputs (inputs that are actively quoted and can be validated to external sources). Inputs by class of derivative are as follows: Interest-rate related: • Discount rate assumption. Overnight Index Swap (OIS) curve. • Forward interest rate assumption. LIBOR Swap Curve. • Volatility assumption. Market-based expectations of future interest rate volatility implied from current market prices for similar options. Mortgage delivery commitments: • To Be Announced (TBA) securities prices. Market-based prices of TBAs are determined by coupon class and expected term until settlement. BOB Loans. The fair value approximates the carrying value. Deposits. The Bank determines the fair value by calculating the present value of expected future cash flows from the deposits. The discount rates used in these calculations are the cost of deposits with similar terms. Consolidated Obligations. The Bank’s internal valuation model determines fair values of consolidated obligations bonds and discount notes by calculating the present value of expected cash flows using market-based yield curves. The inputs used to determine fair value of consolidated obligations are a CO curve and a LIBOR swap curve, a volatility assumption for consolidated obligations with optionality, and a spread adjustment. The OF constructs an internal curve, referred to as the CO curve, using the U.S. Treasury curve as a base curve that is then adjusted by adding indicative spreads obtained from market observable sources. These market indications are generally derived from pricing indications from dealers, historical pricing relationships, recent GSE trades and secondary market activity. Mandatorily Redeemable Capital Stock. The fair value of capital stock subject to mandatory redemption is generally its par value plus estimated dividends at the time of reclassification and any subsequently estimated dividend. FHLBank stock is not traded and no market mechanism exists for the exchange of stock outside the FHLBank System's cooperative structure. Commitments. For fixed-rate loan commitments, fair value considers the difference between current levels of interest rates and the committed rates. The Bank issues standby letters of credit for a fee. The unamortized fee is the letter of credit's carrying value and represents its fair value. The fair value of the Bank's commitments to extend credit for advances and letters of credit was immaterial at June 30, 2015 and December 31, 2014 . Subjectivity of Estimates. Estimates of the fair value of financial assets and liabilities using the methods described above are highly subjective and require judgments regarding significant matters such as the amount and timing of future cash flows, prepayment speed assumptions, expected interest rate volatility, possible distributions of future interest rates used to value options, and the selection of discount rates that appropriately reflect market and credit risks. The use of different assumptions could have a material effect on the fair value estimates. These estimates are susceptible to material near term changes because they are made as of a specific point in time. Fair Value Measurements. The following tables present, for each hierarchy level, the Bank’s assets and liabilities that are measured at fair value on a recurring or non-recurring basis on its Statements of Condition at June 30, 2015 and December 31, 2014 . The Bank measures certain mortgage loans held for portfolio at fair value due to recognition of a credit loss. Real estate owned is measured using fair value when the assets' fair value less costs to sell is lower than the carrying amount. June 30, 2015 (in thousands) Level 1 Level 2 Level 3 Netting Adjustment (1) Total Recurring fair value measurements - Assets Trading securities: GSE and TVA obligations $ — $ 364,737 $ — $ — $ 364,737 Mutual funds 5,239 — — — 5,239 Total trading securities $ 5,239 $ 364,737 $ — $ — $ 369,976 AFS securities: GSE and TVA obligations $ — $ 3,027,847 $ — $ — $ 3,027,847 State or local agency obligations — 90,085 — — 90,085 Mutual funds 1,998 — — — 1,998 Other U.S. obligations single family MBS — 298,725 — — 298,725 GSE single-family MBS — 2,667,334 — — 2,667,334 GSE multifamily MBS — 854,224 — — 854,224 Private label MBS: Private label residential MBS — — 907,925 — 907,925 HELOCs — — 10,471 — 10,471 Total AFS securities $ 1,998 $ 6,938,215 $ 918,396 $ — $ 7,858,609 Derivative assets: Interest rate related $ — $ 121,808 $ — $ (58,133 ) $ 63,675 Mortgage delivery commitments — 477 — — 477 Total derivative assets $ — $ 122,285 $ — $ (58,133 ) $ 64,152 Total recurring assets at fair value $ 7,237 $ 7,425,237 $ 918,396 $ (58,133 ) $ 8,292,737 Recurring fair value measurements - Liabilities Derivative liabilities: Interest rate related $ — $ 384,524 $ — $ (321,149 ) $ 63,375 Total recurring liabilities at fair value (2) $ — $ 384,524 $ — $ (321,149 ) $ 63,375 Non-recurring fair value measurements - Assets Impaired mortgage loans held for portfolio (3) $ — $ — $ 27,970 $ — $ 27,970 Real estate owned (3) — — 4,695 — 4,695 Total non-recurring assets at fair value $ — $ — $ 32,665 $ — $ 32,665 December 31, 2014 (in thousands) Level 1 Level 2 Level 3 Netting Adjustment (1) Total Recurring fair value measurements - Assets Trading securities: GSE and TVA obligations $ — $ 276,295 $ — $ — $ 276,295 Mutual funds 4,721 — — — 4,721 Total trading securities $ 4,721 $ 276,295 $ — $ — $ 281,016 AFS securities: GSE and TVA obligations $ — $ 3,233,703 $ — $ — 3,233,703 State or local agency obligations — 98,984 — — 98,984 Mutual funds 1,998 — — — 1,998 Other U.S. obligations single family MBS — 329,379 — — 329,379 GSE single-family MBS — 2,882,162 — — 2,882,162 GSE multifamily MBS — 879,827 — — 879,827 Private label MBS: Private label residential MBS — — 971,083 — 971,083 HELOCs — — 11,699 — 11,699 Total AFS securities $ 1,998 $ 7,424,055 $ 982,782 $ — $ 8,408,835 Derivative assets: Interest rate related $ — $ 111,338 $ — $ (75,555 ) $ 35,783 Mortgage delivery commitments — 434 — — 434 Total derivative assets $ — $ 111,772 $ — $ (75,555 ) $ 36,217 Total recurring assets at fair value $ 6,719 $ 7,812,122 $ 982,782 $ (75,555 ) $ 8,726,068 Recurring fair value measurements - Liabilities Derivative liabilities: Interest rate related $ — $ 467,685 $ — $ (408,721 ) $ 58,964 Total recurring liabilities at fair value (2) $ — $ 467,685 $ — $ (408,721 ) $ 58,964 Notes: (1) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions and also cash collateral held or placed by the Bank with the same clearing agent and/or counterparties. (2) Derivative liabilities represent the total liabilities at fair value. (3) These amounts were immaterial for the year ended December 31, 2014. The estimated fair values of impaired mortgage loans held for portfolio and real estate owned are determined based on values provided by a third party's retail-based AVM. The Bank adjusts the AVM value downward based on the amount it has historically received on liquidation. There were no transfers between Levels 1 or 2 during the first six months of 2015 or 2014. Level 3 Disclosures for all Assets and Liabilities That Are Measured at Fair Value on a Recurring Basis. The following table presents a reconciliation of all assets and liabilities that are measured at fair value on the Statement of Condition using significant unobservable inputs (Level 3) for the six months ended June 30, 2015 and 2014. For instruments carried at fair value, the Bank reviews the fair value hierarchy classifications on a quarterly basis. Changes in the observability of the valuation attributes may result in a reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in/out at fair value in the quarter in which the changes occur, and transfers are reported as of the beginning of the period. During the first six months of 2015, the Bank transferred one private label MBS from its HTM portfolio to its AFS portfolio, in the period in which the OTTI charge was recorded. There were no Level 3 transfers during the first six months of 2014. (in thousands) AFS Private Label MBS-Residential Six Months Ended June 30, 2015 AFS Private Label MBS- HELOCs Six Months Ended June 30, 2015 Balance at January 1 $ 971,083 $ 11,699 Total gains (losses) (realized/unrealized) included in: Accretion of credit losses in interest income 9,512 734 Net unrealized gains on AFS in OCI 42 — Net change in fair value on OTTI AFS in OCI (1,157 ) (1 ) Unrealized gains (losses) on OTTI AFS in OCI (7,555 ) (462 ) Purchases, issuances, sales, and settlements: Settlements (67,368 ) (1,499 ) Transfer of OTTI securities from HTM to AFS 3,368 — Balance at June 30 $ 907,925 $ 10,471 Total amount of gains for the period presented included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at June 30, 2015 $ 9,512 $ 734 (in thousands) AFS Private Label MBS-Residential Six Months Ended June 30, 2014 AFS Private Label MBS- HELOCs Six Months Ended June 30, 2014 Balance at January 1 $ 1,123,624 $ 14,428 Total gains (losses) (realized/unrealized) included in: Accretion of credit losses in interest income 6,087 663 Net unrealized (losses) on AFS in OCI (60 ) — Net change in fair value on OTTI AFS in OCI 2,932 40 Unrealized gains (losses) on OTTI AFS in OCI 15,967 54 Purchases, issuances, sales, and settlements: Settlements (90,601 ) (1,869 ) Balance at June 30 $ 1,057,949 $ 13,316 Total amount of gains for the period presented included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at June 30, 2014 $ 6,087 $ 663

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The following table presents the Bank's various off-balance sheet commitments which are described in detail below. (in thousands) June 30, 2015 December 31, 2014 Notional amount Expiration Date Within One Year Expiration Date After One Year Total Total Standby letters of credit outstanding (1) (2) $ 20,487,833 $ — $ 20,487,833 $ 19,942,125 Commitments to fund additional advances and BOB loans 123,621 75,000 198,621 21,124 Commitments to fund or purchase mortgage loans 23,337 — 23,337 18,308 Unsettled consolidated obligation bonds, at par (3) 535,450 — 535,450 95,530 Unsettled consolidated obligation discount notes, at par 320,000 — 320,000 500,000 Notes : (1) Excludes approved requests to issue future standby letters of credit of $204.0 million and $146.8 million at June 30, 2015 and December 31, 2014 , respectively. (2) $5.8 billion of these letters of credit have annual renewal language that, as long as both parties agree, permit the letter of credit to be renewed for an additional year with a maximum renewal period of 5 years. (3) Includes $487.0 million and $83.1 million of consolidated obligation bonds which were hedged with associated interest rate swaps at June 30, 2015 and December 31, 2014 , respectively. Commitments to Extend Credit on Standby Letters of Credit, Additional Advances and BOB Loans. Standby letters of credit are issued on behalf of members for a fee. A standby letter of credit is a financing arrangement between the Bank and its member. If the Bank is required to make payment for a beneficiary’s draw, these amounts are withdrawn from the member’s Demand Deposit Account (DDA). Any remaining amounts not covered by the withdrawal from the member’s DDA are converted into a collateralized advance. Unearned fees related to standby letters of credit are recorded in other liabilities and had a balance of $4.0 million and $4.8 million as of June 30, 2015 and December 31, 2014 , respectively. The Bank monitors the creditworthiness of its standby letters of credit based on an evaluation of the member. The Bank has established parameters for the review, assessment, monitoring and measurement of credit risk related to these standby letters of credit. Based on management’s credit analyses, collateral requirements, and adherence to the requirements set forth in Bank policy and Finance Agency regulations, the Bank has not recorded any additional liability on these commitments and standby letters of credit. Excluding BOB, commitments and standby letters of credit are collateralized at the time of issuance. The Bank records a liability with respect to BOB commitments, which is reflected in other liabilities on the Statements of Condition. The Bank does not have any legally binding or unconditional unused lines of credit for advances at June 30, 2015 and December 31, 2014 . However, within the Bank's Open RepoPlus advance product, there were conditional lines of credit outstanding of $7.4 billion at both June 30, 2015 and December 31, 2014 . Commitments to Fund or Purchase Mortgage Loans. The Bank may enter into commitments that unconditionally obligate the Bank to purchase mortgage loans under the MPF program. These delivery commitments are generally for periods not to exceed 45 days . Such commitments are recorded as derivatives. Pledged Collateral. The Bank may pledge cash and securities, as collateral, related to derivatives. Refer to Note 9 - Derivatives and Hedging Activities for additional information about the Bank's pledged collateral and other credit-risk-related contingent features. Legal Proceedings. The Bank is subject to legal proceedings arising in the normal course of business. The Bank 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 Bank's financial condition, results of operations or cash flows. Notes 6, 9, 10, 11, and 12 also discuss other commitments and contingencies.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Impairment of Investments, Policy	A significant input to the projection of cash flows expected to be collected is the forecast of future housing price changes for the relevant states and core-based statistical areas (CBSAs) which are based upon an assessment of the individual housing markets. During the second quarter of 2015, the OTTI Governance Committee developed a short-term housing price forecast using whole percentages ranging from (2.0)% to 8.0% over the 12 month period beginning April 1, 2015. For the vast majority of markets the short-term forecast has changes from 2.0% to 5.0% . Thereafter, a unique path is projected for each geographic area based on an internally developed framework derived from historical data.
Finance, Loan and Lease Receivables, Held-for-investment, Allowance and Nonperforming Loans, Allowance Policy	Mortgage Loans - Government-Guaranteed or Insured. The Bank invests in government-guaranteed or insured fixed-rate mortgage loans secured by one-to-four family residential properties. Government-guaranteed mortgage loans are those insured or guaranteed by the Federal Housing Administration (FHA), Department of Veterans Affairs (VA), the Rural Housing Service (RHS) of the Department of Agriculture and/or by Housing and Urban Development (HUD). Any losses from such loans are expected to be recovered from those entities. If not, losses from such loans must be contractually absorbed by the servicers. Therefore, there is no allowance for credit losses on government-guaranteed or insured mortgage loans. Mortgage Loans - Conventional MPF. The allowances for conventional loans are determined by analyses that include consideration of various data observations such as past performance, current performance, loan portfolio characteristics, collateral-related characteristics, industry data, and prevailing economic conditions. The measurement of the allowance for credit losses includes: (1) reviewing all residential mortgage loans at the individual master commitment level; (2) reviewing specifically identified collateral-dependent loans for impairment; and/or (3) reviewing homogeneous pools of residential mortgage loans. The Bank’s allowance for credit losses takes into consideration the CE associated with conventional mortgage loans under the MPF Program. Specifically, the determination of the allowance generally considers expected Primary Mortgage Insurance (PMI), Supplemental Mortgage Insurance (SMI), and other CE amounts. Any incurred losses that are expected to be recovered from the CE reduce the Bank’s allowance for credit losses. For conventional MPF loans, credit losses that are not fully covered by PMI are allocated to the Bank up to an agreed upon amount, referred to as the first loss account (FLA). The FLA functions as a tracking mechanism for determining the point after which the PFI is required to cover losses. The Bank pays the PFI a fee, a portion of which may be based on the credit performance of the mortgage loans, in exchange for absorbing the second layer of losses up to an agreed-upon CE amount. The CE amount may be a direct obligation of the PFI and/or an SMI policy paid for by the PFI, and may include performance-based fees which can be withheld to cover losses allocated to the Bank (referred to as recaptured CE fees). The PFI is required to pledge collateral to secure any portion of its CE amount that is a direct obligation. A receivable which is assessed for collectability is generally established for losses expected to be recovered by withholding CE fees. Estimated losses exceeding the CE, if any, are incurred by the Bank. The Bank has established an allowance methodology for each of the Bank’s portfolio segments: credit products, government-guaranteed or insured mortgage loans held for portfolio, conventional MPF loans held for portfolio, and BOB loans. Credit Products . The Bank manages its total credit exposure (TCE), which includes advances, letters of credit, advance commitments, and other credit product exposure, through an integrated approach. This generally provides for a credit limit to be established 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 each borrower's need for a reliable source of funding. In addition, the Bank lends to its members in accordance with the FHLBank Act and Finance Agency regulations. Specifically, the FHLBank Act requires the Bank to obtain 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 weightings, or haircuts, to the value of the collateral. The Bank accepts cash, certain investment securities, residential mortgage loans, deposits, and other real estate related assets as collateral. In addition, Community Financial Institutions (CFIs) are eligible to utilize expanded statutory collateral provisions for small business, agriculture, and community development loans. The Bank’s capital stock owned by the borrowing member is pledged as secondary collateral. Collateral arrangements may vary depending upon borrower credit quality, financial condition and performance, borrowing capacity, and overall credit exposure to the borrower. The Bank can require additional or substitute collateral to help ensure that credit products continue to be secured by adequate collateral. Management of the Bank believes that these policies effectively manage the Bank’s respective credit risk from credit products. Based upon the financial condition of the member, the Bank either allows a member to retain physical possession of the collateral assigned to the Bank or requires the member to specifically deliver physical possession or control of the collateral to the Bank or its custodians. However, notwithstanding financial condition, the Bank always takes possession or control of securities used as collateral if they are used for maximum borrowing capacity (MBC) or to secure advances. The Bank perfects its security interest in all pledged collateral. The FHLBank Act affords any security interest granted to the Bank by a member (or an affiliate of 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 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 Bank considers the payment status, collateral types and concentration levels, and borrower’s financial condition to be indicators of credit quality on its credit products. At June 30, 2015 , the Bank had rights to collateral on a member-by-member basis with a value in excess of its outstanding extensions of credit. The Bank continues to evaluate and, as necessary, make changes to its collateral guidelines based on current market conditions. At June 30, 2015 , the Bank did not have any credit products that were past due, on nonaccrual status, or considered impaired. In addition, the Bank did not have any credit products considered to be troubled debt restructurings (TDRs). Based upon the collateral held as security, its credit extension policies, collateral policies, management’s credit analysis and the repayment history on credit products, the Bank has not incurred any credit losses on credit products since inception. Accordingly, the Bank has not recorded any allowance for credit losses for these products. Additionally, at June 30, 2015 and December 31, 2014 , the Bank has not recorded any allowance for credit losses for off-balance sheet credit products.
Loans and Leases Receivable, Mortgage and Mortgage-Backed Securities, Valuation, Policy	Collectively Evaluated Mortgage Loans. The Bank collectively evaluates the homogeneous mortgage loan portfolio for impairment. The allowance for credit loss methodology for mortgage loans considers loan pool specific attribute data, applies loss severities and incorporates the CEs of the MPF Program and PMI. The probability of default and loss given default are based on the actual 12-month historical performance of the Bank’s mortgage loans. Actual probability of default was determined by applying migration analysis to categories of mortgage loans (current, 30 days past due, 60 days past due, and 90 days past due). Actual loss given default was determined based on realized losses incurred on the sale of mortgage loan collateral over the previous 12 months. Given the credit deterioration experienced by PMI companies, estimated future claim payments from these companies have been reduced and factored into estimated loan losses. The resulting estimated losses are reduced by the CEs the Bank expects to be eligible to receive. The CEs are contractually set and calculated by a master commitment agreement between the Bank and the PFI. Losses in excess of the CEs are incurred by the Bank. Individually Evaluated Mortgage Loans. The Bank evaluates certain conventional mortgage loans for impairment individually
Derivatives, Policy	The Bank is subject to credit risk due to the risk of nonperformance by counterparties to its derivative transactions. The Bank manages counterparty credit risk through credit analysis, collateral requirements, and adherence to the requirements set forth in its policies, U.S. Commodity Futures Trading Commission regulations, and Finance Agency regulations. For bilateral derivatives, the degree of credit risk depends on the extent to which netting arrangements are included in such contracts to mitigate the risk. The Bank requires collateral agreements with collateral delivery thresholds on all bilateral derivatives. For cleared derivatives, the Clearing Houses are the Bank's counterparties. The Clearing House notifies the clearing agent of the required initial and variation margin and the clearing agent notifies the FHLBank of the required initial and variation margin. The requirement that the Bank post initial and variation margin through the clearing agent, on behalf of the Clearing Houses, exposes the Bank to institutional credit risk in the event that the clearing agent or the Clearing Houses fail to meet their respective obligations. Initial margin is the amount calculated based on anticipated exposure to future changes in the value of a swap and protects the Clearing Houses from market risk in the event of default by one of their respective clearing agents. Variation margin is the amount calculated to cover the current exposure arising from changes in the market value of the position since the trade was executed or the previous time the position was marked to market. The use of cleared derivatives is intended to mitigate credit risk exposure because a central counterparty is substituted for individual counterparties and collateral is posted daily, through a clearing agent, for changes in the value of cleared derivatives. The Bank 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 a bankruptcy, insolvency or similar proceeding involving the Clearing Houses or the Bank’s clearing agent, or both. Based on this analysis, the Bank presents a net derivative receivable or payable for all of its transactions through a particular clearing agent with a particular Clearing House. Based on credit analyses and collateral requirements, the Bank does not anticipate credit losses related to its derivative agreements. See Note 13 - Estimated Fair Values for discussion regarding the Bank's fair value methodology for derivative assets and liabilities, including an evaluation of the potential for the fair value of these instruments to be affected by counterparty credit risk. Generally, the Bank’s ISDA agreements for bilateral derivatives contain provisions that require the Bank to post additional collateral with its counterparties if there is deterioration in the Bank's credit rating and the net liability position exceeds the relevant threshold. If the Bank’s credit rating is lowered by a major credit rating agency, the Bank would be required to deliver additional collateral on bilateral derivative instruments in net liability positions.
Fair Value Measurement, Policy	Fair Value Hierarchy. The fair value hierarchy is used to prioritize the inputs used to measure fair value for those assets and liabilities carried at fair value on the Statement of Condition. The inputs are evaluated and an overall level for the fair value measurement is determined. This overall level is an indication of the market observability of the fair value measurement for the asset or liability. The 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 or in which little information is released publicly; (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 Bank reviews its fair value hierarchy classifications on a quarterly basis. Changes in the observability of the valuation inputs may result in a reclassification of certain assets or liabilities. These reclassifications are reported as transfers in/out as of the beginning of the quarter in which the changes occur.
Fair Value of Financial Instruments, Policy	Mutual Funds Offsetting Deferred Compensation and Employee Benefit Plan Obligations. Fair values for publicly traded mutual funds are based on quoted market prices. Advances. The Bank determines the fair value by calculating the present value of expected future cash flows from the advances. The discount rates used in these calculations are equivalent to the replacement advance rates for advances with similar terms. The inputs used to determine fair value of advances are the LIBOR curve, a volatility assumption for advances with optionality, and a spread adjustment. Mortgage Loans Held For Portfolio. The fair value is determined based on quoted market prices for new MBS issued by U.S. GSEs. Prices are then adjusted for differences in coupon, seasoning and credit quality between the Bank’s mortgage loans and the referenced MBS. The prices of the referenced MBS are highly dependent upon the underlying prepayment assumptions priced in the secondary market. Accrued Interest Receivable and Payable. The fair values approximate the carrying values. Derivative Assets/Liabilities. The Bank bases the fair values of derivatives with similar terms on market prices, when available. However, market prices do not exist for many types of derivative instruments. Consequently, fair values for these instruments are estimated using standard valuation techniques such as discounted cash flow analysis and comparisons to similar instruments. Estimates developed using these methods are highly subjective and require judgment regarding significant matters such as the amount and timing of future cash flows, volatility of interest rates and the selection of discount rates that appropriately reflect market and credit risks. The Bank is subject to credit risk on bilateral derivatives transactions due to the potential nonperformance by the derivatives counterparties. To mitigate this risk, the Bank has entered into netting arrangements for its bilateral derivative transactions. In addition, the Bank has entered into bilateral security agreements with all active derivatives counterparties that provide for delivery of collateral at specified levels tied to those counterparties’ credit ratings to limit the Bank’s net unsecured credit exposure to these counterparties. For cleared derivatives, the Bank's credit risk exposure is mitigated because a central counterparty is substituted for individual counterparties and collateral is posted daily for changes in the value of cleared derivatives. The Bank has evaluated the potential for the fair value of the instruments to be affected by counterparty credit risk and has determined that no adjustments were significant or necessary to the overall fair value measurements. The fair values of the Bank’s derivative assets and liabilities include accrued interest receivable/payable and cash collateral remitted to/received from counterparties. The estimated fair values of the accrued interest receivable/payable and cash collateral approximate their carrying values due to their short-term nature. The fair values of derivatives are netted by clearing agent and/or by counterparty pursuant to the provisions of each of the Bank’s netting agreements. If these netted amounts are positive, they are classified as an asset; if negative, a liability. The discounted cash flow analysis used to determine the fair value of derivative instruments utilizes market-observable inputs (inputs that are actively quoted and can be validated to external sources). Inputs by class of derivative are as follows: Interest-rate related: • Discount rate assumption. Overnight Index Swap (OIS) curve. • Forward interest rate assumption. LIBOR Swap Curve. • Volatility assumption. Market-based expectations of future interest rate volatility implied from current market prices for similar options. Mortgage delivery commitments: • To Be Announced (TBA) securities prices. Market-based prices of TBAs are determined by coupon class and expected term until settlement. BOB Loans. The fair value approximates the carrying value. Deposits. The Bank determines the fair value by calculating the present value of expected future cash flows from the deposits. The discount rates used in these calculations are the cost of deposits with similar terms. Consolidated Obligations. The Bank’s internal valuation model determines fair values of consolidated obligations bonds and discount notes by calculating the present value of expected cash flows using market-based yield curves. The inputs used to determine fair value of consolidated obligations are a CO curve and a LIBOR swap curve, a volatility assumption for consolidated obligations with optionality, and a spread adjustment. The OF constructs an internal curve, referred to as the CO curve, using the U.S. Treasury curve as a base curve that is then adjusted by adding indicative spreads obtained from market observable sources. These market indications are generally derived from pricing indications from dealers, historical pricing relationships, recent GSE trades and secondary market activity. Mandatorily Redeemable Capital Stock. The fair value of capital stock subject to mandatory redemption is generally its par value plus estimated dividends at the time of reclassification and any subsequently estimated dividend. FHLBank stock is not traded and no market mechanism exists for the exchange of stock outside the FHLBank System's cooperative structure. Commitments. For fixed-rate loan commitments, fair value considers the difference between current levels of interest rates and the committed rates. The Bank issues standby letters of credit for a fee. The unamortized fee is the letter of credit's carrying value and represents its fair value. The fair value of the Bank's commitments to extend credit for advances and letters of credit was immaterial at June 30, 2015 and December 31, 2014 . Subjectivity of Estimates. Estimates of the fair value of financial assets and liabilities using the methods described above are highly subjective and require judgments regarding significant matters such as the amount and timing of future cash flows, prepayment speed assumptions, expected interest rate volatility, possible distributions of future interest rates used to value options, and the selection of discount rates that appropriately reflect market and credit risks. The use of different assumptions could have a material effect on the fair value estimates. These estimates are susceptible to material near term changes because they are made as of a specific point in time. To value MBS holdings, the Bank obtains prices from four designated third-party pricing vendors, when available. The pricing vendors use various proprietary models to price MBS. The inputs to those models are derived from various sources including, but not limited to: benchmark yields, reported trades, dealer estimates, issuer spreads, benchmark securities, bids, offers and other market-related data. Since many MBS do not trade on a daily basis, the pricing vendors use available information such as benchmark curves, benchmarking of like securities, sector groupings and matrix pricing to determine the prices for individual securities, as applicable. Each pricing vendor has an established challenge process in place for all MBS valuations, which facilitates resolution of potentially erroneous prices identified by the Bank. The Bank's valuation technique first requires the establishment of a median price for each security. All prices that are within a specified tolerance threshold of the median price are included in the cluster of prices that are averaged to compute a default price. Prices that are outside the threshold (outliers) are subject to further analysis (including, but not limited to, comparison to prices provided by an additional third-party valuation service, prices for similar securities, and/or non-binding dealer estimates) to determine if an outlier is a better estimate of fair value. If an outlier (or some other price identified in the analysis) is determined to be a better estimate of fair value, then the outlier (or the other price as appropriate) is used as the final price rather than the default price. If, on the other hand, the analysis confirms that an outlier (or outliers) is (are) in fact not representative of fair value and the default price is the best estimate, then the default price is used as the final price. In all cases, the final price is used to determine the fair value of the security. If all prices received for a security are outside the tolerance threshold level of the median price, then there is no default price, and the final price is determined by an evaluation of all outlier prices as described above.
Fair Value Transfer, Policy	For instruments carried at fair value, the Bank reviews the fair value hierarchy classifications on a quarterly basis. Changes in the observability of the valuation attributes may result in a reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in/out at fair value in the quarter in which the changes occur, and transfers are reported as of the beginning of the period.

Trading Securities (Tables)

Trading Securities (Tables)	6 Months Ended
	Jun. 30, 2015
Schedule of Trading Securities and Other Trading Assets [Line Items]
Schedule of Trading Securities	The following table presents trading securities as of June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Non-MBS: Mutual funds $ 5,239 $ 4,721 GSE and Tennessee Valley Authority (TVA) obligations 364,737 276,295 Total $ 369,976 $ 281,016
Categories of Investments, Marketable Securities, Trading Securities [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Net Gains (Losses) on Trading Securities	The following table presents net gains (losses) on trading securities for the second quarter and the first six months of 2015 and 2014 . Three months ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Net unrealized gains (losses) on trading securities held at period-end $ (10,133 ) $ 6,789 $ (3,356 ) $ 16,495 Net realized gains on securities sold/matured during the period — — — 86 Net gains (losses) on trading securities $ (10,133 ) $ 6,789 $ (3,356 ) $ 16,581

Available-for-Sale (AFS) Secu26

Available-for-Sale (AFS) Securities (Tables) - Available-for-sale Securities	6 Months Ended
	Jun. 30, 2015
Schedule of Available-for-sale Securities [Line Items]
Schedule of Available-for-sale Securities Reconciliation	The following tables present AFS securities as of June 30, 2015 and December 31, 2014 . June 30, 2015 (in thousands) Amortized Cost (1) OTTI Recognized in AOCI (2) Gross Unrealized Gains Gross Unrealized Losses Fair Value Non-MBS: Mutual funds $ 1,993 $ — $ 5 $ — $ 1,998 GSE and TVA obligations 3,011,630 — 18,417 (2,200 ) 3,027,847 State or local agency obligations 93,068 — 174 (3,157 ) 90,085 Total non-MBS $ 3,106,691 $ — $ 18,596 $ (5,357 ) $ 3,119,930 MBS: Other U.S. obligations single family MBS $ 298,284 $ — $ 494 $ (53 ) $ 298,725 GSE single-family MBS 2,658,980 — 12,882 (4,528 ) 2,667,334 GSE multifamily MBS 845,816 — 10,477 (2,069 ) 854,224 Private label MBS: Private label residential MBS 825,915 (3,047 ) 85,305 (248 ) 907,925 HELOCs 8,480 (1 ) 1,992 — 10,471 Total private label MBS 834,395 (3,048 ) 87,297 (248 ) 918,396 Total MBS $ 4,637,475 $ (3,048 ) $ 111,150 $ (6,898 ) $ 4,738,679 Total AFS securities $ 7,744,166 $ (3,048 ) $ 129,746 $ (12,255 ) $ 7,858,609 December 31, 2014 (in thousands) Amortized Cost (1) OTTI Recognized in AOCI (2) Gross Unrealized Gains Gross Unrealized Losses Fair Value Non-MBS: Mutual funds $ 1,993 $ — $ 5 $ — $ 1,998 GSE and TVA obligations 3,221,543 — 17,661 (5,501 ) 3,233,703 State or local agency obligations 98,616 — 752 (384 ) 98,984 Total non-MBS $ 3,322,152 $ — $ 18,418 $ (5,885 ) $ 3,334,685 MBS: Other U.S. obligations single family MBS $ 328,787 $ — $ 592 $ — $ 329,379 GSE single-family MBS 2,869,855 — 16,433 (4,126 ) 2,882,162 GSE multifamily MBS 872,509 — 9,511 (2,193 ) 879,827 Private label MBS: Private label residential MBS 879,376 (863 ) 92,860 (290 ) 971,083 HELOCs 9,245 — 2,454 — 11,699 Total private label MBS 888,621 (863 ) 95,314 (290 ) 982,782 Total MBS $ 4,959,772 $ (863 ) $ 121,850 $ (6,609 ) $ 5,074,150 Total AFS securities $ 8,281,924 $ (863 ) $ 140,268 $ (12,494 ) $ 8,408,835 Notes : (1) Amortized cost includes adjustments made to the cost basis of an investment for accretion of discounts and/or amortization of premiums, collection of cash, previous OTTI recognized in earnings, and/or fair value hedge accounting adjustments. (2) Represents the non-credit portion of an OTTI recognized during the life of the security.
Reconciliation of OTTI on Investments Recognized in AOCI	The following table presents a reconciliation of the AFS OTTI loss recognized through AOCI to the total net non-credit portion of OTTI gains on AFS securities in AOCI as of June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Non-credit portion of OTTI losses $ (3,048 ) $ (863 ) Net unrealized gains on OTTI securities since their last OTTI credit charge 87,298 95,314 Net non-credit portion of OTTI gains on AFS securities in AOCI $ 84,250 $ 94,451
Schedule of Unrealized Loss on Investments	The following tables summarize the AFS securities with unrealized losses as of June 30, 2015 and December 31, 2014 . The unrealized losses are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. June 30, 2015 Less than 12 Months Greater than 12 Months Total (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (1) Non-MBS: GSE and TVA obligations $ 1,045,729 $ (1,873 ) $ 303,697 $ (327 ) $ 1,349,426 $ (2,200 ) State or local agency obligations 76,543 (2,997 ) 3,840 (160 ) 80,383 (3,157 ) Total non-MBS $ 1,122,272 $ (4,870 ) $ 307,537 $ (487 ) $ 1,429,809 $ (5,357 ) MBS: Other U.S. obligations single family MBS $ 104,779 $ (53 ) $ — $ — $ 104,779 $ (53 ) GSE single-family MBS 202,168 (272 ) 198,889 (4,256 ) 401,057 (4,528 ) GSE multifamily MBS 209,998 (2,069 ) — — 209,998 (2,069 ) Private label: Private label residential MBS 58,002 (2,844 ) 17,001 (451 ) 75,003 (3,295 ) HELOCs 1,368 (1 ) — — 1,368 (1 ) Total private label MBS 59,370 (2,845 ) 17,001 (451 ) 76,371 (3,296 ) Total MBS $ 576,315 $ (5,239 ) $ 215,890 $ (4,707 ) $ 792,205 $ (9,946 ) Total $ 1,698,587 $ (10,109 ) $ 523,427 $ (5,194 ) $ 2,222,014 $ (15,303 ) December 31, 2014 Less than 12 Months Greater than 12 Months Total (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (1) Non-MBS: GSE and TVA obligations $ 1,783,202 $ (4,380 ) $ 322,691 $ (1,121 ) $ 2,105,893 $ (5,501 ) State or local agency obligations 1,576 (14 ) 11,385 (370 ) 12,961 (384 ) Total non-MBS $ 1,784,778 $ (4,394 ) $ 334,076 $ (1,491 ) $ 2,118,854 $ (5,885 ) MBS: GSE single-family MBS $ 19,405 $ (3 ) $ 228,257 $ (4,123 ) $ 247,662 $ (4,126 ) GSE multifamily MBS 15,322 (104 ) 185,153 (2,089 ) 200,475 (2,193 ) Private label residential MBS 58,553 (191 ) 49,383 (962 ) 107,936 (1,153 ) Total MBS $ 93,280 $ (298 ) $ 462,793 $ (7,174 ) $ 556,073 $ (7,472 ) Total $ 1,878,058 $ (4,692 ) $ 796,869 $ (8,665 ) $ 2,674,927 $ (13,357 ) Note: (1) Total unrealized losses equal the sum of “OTTI Recognized in AOCI” and “Gross Unrealized Losses” in the first two tables of this Note 3.
Investments Classified by Contractual Maturity Date	Redemption Terms. The amortized cost and fair value of AFS securities by contractual maturity as of June 30, 2015 and December 31, 2014 are presented below. Expected maturities of some securities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. (in thousands) June 30, 2015 December 31, 2014 Year of Maturity Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 195,992 $ 195,972 $ 301,985 $ 302,087 Due after one year through five years 1,647,989 1,648,029 2,058,695 2,054,517 Due after five years through ten years 683,528 699,385 662,805 676,064 Due in more than ten years 579,182 576,544 298,667 302,017 AFS securities excluding MBS 3,106,691 3,119,930 3,322,152 3,334,685 MBS 4,637,475 4,738,679 4,959,772 5,074,150 Total AFS securities $ 7,744,166 $ 7,858,609 $ 8,281,924 $ 8,408,835
Schedule of Interest Rate Payment Terms For Investments	The following table details interest payment terms at June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Amortized cost of AFS securities other than MBS: Fixed-rate $ 2,922,021 $ 2,902,430 Variable-rate 184,670 419,722 Total non-MBS $ 3,106,691 $ 3,322,152 Amortized cost of AFS MBS: Fixed-rate $ 1,719,243 $ 2,002,208 Variable-rate 2,918,232 2,957,564 Total MBS $ 4,637,475 $ 4,959,772 Total amortized cost of AFS securities $ 7,744,166 $ 8,281,924 Note: Certain MBS have a fixed-rate component for a specified period of time, then have a rate reset on a given date. Examples of this type of instrument would include securities supported by underlying 3/1, 5/1, 7/1 and 10/1 hybrid ARMs. In addition, certain of these securities may have a provision within the structure that permits the fixed-rate to be adjusted for items such as prepayment, defaults and loan modification. For purposes of the table above, these securities are reported as fixed-rate until the rate reset date is hit. At that point, the security is then considered to be variable-rate.

Held-to-Maturity (HTM) Securi27

Held-to-Maturity (HTM) Securities (Tables)	6 Months Ended
	Jun. 30, 2015
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity Securities	The following tables present HTM securities as of June 30, 2015 and December 31, 2014 . June 30, 2015 (in thousands) Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Fair Value Non-MBS: GSE securities $ 11,456 $ 157 $ — $ 11,613 State or local agency obligations 175,722 808 (13,860 ) 162,670 Total non-MBS $ 187,178 $ 965 $ (13,860 ) $ 174,283 MBS: Other U.S. obligations single-family MBS $ 973,944 $ 6,422 $ (1 ) $ 980,365 GSE single-family MBS 348,533 6,025 (51 ) 354,507 GSE multifamily MBS 770,107 40,164 — 810,271 Private label residential MBS 589,430 3,050 (5,805 ) 586,675 Total MBS $ 2,682,014 $ 55,661 $ (5,857 ) $ 2,731,818 Total HTM securities $ 2,869,192 $ 56,626 $ (19,717 ) $ 2,906,101 December 31, 2014 (in thousands) Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Fair Value Non-MBS: GSE securities $ 13,041 $ 382 $ — $ 13,423 State or local agency obligations 184,412 1,314 (15,445 ) 170,281 Total non-MBS $ 197,453 $ 1,696 $ (15,445 ) $ 183,704 MBS: Other U.S. obligations single-family MBS $ 1,122,537 $ 8,604 $ — $ 1,131,141 GSE single-family MBS 417,217 7,226 (118 ) 424,325 GSE multifamily MBS 818,037 43,431 — 861,468 Private label residential MBS 691,544 3,506 (9,141 ) 685,909 Total MBS $ 3,049,335 $ 62,767 $ (9,259 ) $ 3,102,843 Total HTM securities $ 3,246,788 $ 64,463 $ (24,704 ) $ 3,286,547
Held-to-maturity Securities
Schedule of Held-to-maturity Securities [Line Items]
Schedule of Unrealized Loss on Investments	The following tables summarize the HTM securities with unrealized losses as of June 30, 2015 and December 31, 2014 . The unrealized losses are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. June 30, 2015 Less than 12 Months Greater than 12 Months Total (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Non-MBS: State or local agency obligations $ — $ — $ 114,760 $ (13,860 ) $ 114,760 $ (13,860 ) MBS: Other U.S. obligations single family MBS $ 11,198 $ (1 ) $ — $ — $ 11,198 $ (1 ) GSE single-family MBS — — 10,077 (51 ) 10,077 (51 ) Private label residential MBS 146,375 (1,074 ) 202,639 (4,731 ) 349,014 (5,805 ) Total MBS $ 157,573 $ (1,075 ) $ 212,716 $ (4,782 ) $ 370,289 $ (5,857 ) Total $ 157,573 $ (1,075 ) $ 327,476 $ (18,642 ) $ 485,049 $ (19,717 ) December 31, 2014 Less than 12 Months Greater than 12 Months Total (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Non-MBS: State or local agency obligations $ 3,361 $ (54 ) $ 116,488 $ (15,391 ) $ 119,849 $ (15,445 ) MBS: GSE single-family MBS $ — $ — $ 11,058 $ (118 ) $ 11,058 $ (118 ) Private label residential MBS 185,673 (1,291 ) 233,287 (7,850 ) 418,960 (9,141 ) Total MBS $ 185,673 $ (1,291 ) $ 244,345 $ (7,968 ) $ 430,018 $ (9,259 ) Total $ 189,034 $ (1,345 ) $ 360,833 $ (23,359 ) $ 549,867 $ (24,704 )
Investments Classified by Contractual Maturity Date	Redemption Terms. The amortized cost and fair value of HTM securities by contractual maturity as of June 30, 2015 and December 31, 2014 are presented below. Expected maturities of some securities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. (in thousands) June 30, 2015 December 31, 2014 Year of Maturity Amortized Cost Fair Value Amortized Cost Fair Value Non-MBS: Due in one year or less $ 11,456 $ 11,613 $ 13,042 $ 13,423 Due after one year through five years — — 3,415 3,361 Due after five years through ten years 60,197 58,773 21,807 22,263 Due after ten years 115,525 103,897 159,189 144,657 HTM securities excluding MBS 187,178 174,283 197,453 183,704 MBS 2,682,014 2,731,818 3,049,335 3,102,843 Total HTM securities $ 2,869,192 $ 2,906,101 $ 3,246,788 $ 3,286,547
Schedule of Interest Rate Payment Terms For Investments	Interest Rate Payment Terms. The following table details interest rate payment terms at June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Amortized cost of HTM securities other than MBS: Fixed-rate $ 41,838 $ 44,453 Variable-rate 145,340 153,000 Total non-MBS $ 187,178 $ 197,453 Amortized cost of HTM MBS: Fixed-rate $ 979,411 $ 1,114,059 Variable-rate 1,702,603 1,935,276 Total MBS $ 2,682,014 $ 3,049,335 Total HTM securities $ 2,869,192 $ 3,246,788 Note: Certain MBS have a fixed-rate component for a specified period of time, then have a rate reset on a given date. Examples of this type of instrument would include securities supported by underlying 3/1, 5/1, 7/1 and 10/1 hybrid ARMs. In addition, certain of these securities may have a provision within the structure that permits the fixed-rate to be adjusted for items such as prepayment, defaults and loan modification. For purposes of the table above, these securities are reported as fixed-rate until the rate reset date is hit. At that point, the security is then considered to be variable-rate.

Other-Than-Temporary Impairme28

Other-Than-Temporary Impairment (Tables)	6 Months Ended
	Jun. 30, 2015
Other Than Temporary Impairment [Abstract]
Schedule of Other Than Temporarily Impaired Charges of Securities	The "Total OTTI securities" balances below summarize the Bank’s securities as of June 30, 2015 for which an OTTI has been recognized during the life of the security. The "Private label MBS with no OTTI" balances below represent AFS securities on which an OTTI was not taken. The sum of these two totals reflects the entire AFS private label MBS portfolio. OTTI Recognized During the Life of the Security (in thousands) Unpaid Principal Balance Amortized Cost (1) Fair Value Private label residential MBS: Prime $ 470,704 $ 383,470 $ 427,855 Alt-A 554,452 438,093 475,753 Subprime 2,010 1,192 1,405 HELOCs 11,621 8,480 10,471 Total OTTI securities 1,038,787 831,235 915,484 Private label MBS with no OTTI 3,160 3,160 2,912 Total AFS private label MBS $ 1,041,947 $ 834,395 $ 918,396 Notes: (1) Amortized cost includes adjustments made to the cost basis of an investment for accretion of discounts and/or amortization of premiums, collection of cash, and/or previous OTTI recognized in earnings.
Other than Temporary Impairment, Credit Losses Recognized in Earnings	The following table presents the rollforward of the amounts related to OTTI credit losses recognized during the life of the security for which a portion of the OTTI charges was recognized in AOCI for the three and six months ended June 30, 2015 and 2014 . Three months ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Beginning balance $ 283,916 $ 308,200 $ 290,935 $ 314,224 Additions: Credit losses for which OTTI was not previously recognized 483 — 483 — Reductions: Securities sold and matured during the period (1) — 112 — 36 Increases in cash flows expected to be collected (accreted as interest income over the remaining lives of the applicable securities) (7,148 ) (5,891 ) (14,167 ) (11,839 ) Ending balance $ 277,251 $ 302,421 $ 277,251 $ 302,421 Notes: (1) Represents reductions related to securities sold or having reached final maturity during the period, and therefore are no longer held by the Bank at the end of the period.

Advances (Tables)

Advances (Tables)	6 Months Ended
	Jun. 30, 2015
Advances [Abstract]
Schedule of Advances Classified by Contractual Maturity Date	The following table summarizes advances by (i) year of contractual maturity or next call date and (ii) year of contractual maturity or next convertible date as of June 30, 2015 and December 31, 2014 . Year of Contractual Maturity or Next Call Date Year of Contractual Maturity or Next Convertible Date (in thousands) June 30, 2015 December 31, 2014 June 30, 2015 December 31, 2014 Due in 1 year or less $ 32,541,091 $ 29,380,685 $ 31,814,591 $ 31,164,685 Due after 1 year through 2 years 12,957,326 7,754,473 12,852,326 6,846,973 Due after 2 years through 3 years 15,228,328 12,764,348 16,150,328 12,179,348 Due after 3 years through 4 years 6,733,157 9,361,638 6,668,157 9,095,638 Due after 4 years through 5 years 2,757,817 3,373,989 2,752,317 3,368,489 Thereafter 1,041,675 490,823 1,021,675 470,823 Total par value $ 71,259,394 $ 63,125,956 $ 71,259,394 $ 63,125,956 The following table details interest rate payment terms for advances as of June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Fixed-rate – overnight $ 2,118,227 $ 2,012,230 Fixed-rate – term: Due in 1 year or less 20,920,768 20,740,508 Thereafter 10,493,573 9,116,344 Total fixed-rate 33,532,568 31,869,082 Variable-rate: Due in 1 year or less 7,252,096 6,627,947 Thereafter 30,474,730 24,628,927 Total variable-rate 37,726,826 31,256,874 Total par value $ 71,259,394 $ 63,125,956 The following table details the Bank’s advances portfolio by year of contractual maturity as of June 30, 2015 and December 31, 2014 . (dollars in thousands) June 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 $ 30,291,091 0.51 % $ 29,380,685 0.42 % Due after 1 year through 2 years 13,807,326 0.89 7,754,473 1.22 Due after 2 years through 3 years 16,628,328 0.93 12,764,348 1.14 Due after 3 years through 4 years 6,733,157 0.90 9,361,638 0.82 Due after 4 years through 5 years 2,757,817 0.89 3,373,989 0.84 Thereafter 1,041,675 2.63 490,823 2.77 Total par value 71,259,394 0.76 % 63,125,956 0.76 % Discount on AHP advances (39 ) (66 ) Deferred prepayment fees (6,581 ) (8,600 ) Hedging adjustments 236,378 291,065 Total book value $ 71,489,152 $ 63,408,355

Mortgage Loans Held for Portf30

Mortgage Loans Held for Portfolio (Tables)	6 Months Ended
	Jun. 30, 2015
Mortgage Loans on Real Estate [Abstract]
Schedule of Mortgage Loans Held for Portfolio	The following table presents balances as of June 30, 2015 and December 31, 2014 for mortgage loans held for portfolio. (in thousands) June 30, 2015 December 31, 2014 Fixed-rate long-term single-family mortgages (1) $ 2,600,087 $ 2,640,633 Fixed-rate medium-term single-family mortgages (1) 385,021 417,830 Total par value 2,985,108 3,058,463 Premiums 50,078 51,214 Discounts (4,300 ) (4,872 ) Hedging adjustments 28,385 25,789 Total mortgage loans held for portfolio $ 3,059,271 $ 3,130,594 Note: (1) Long-term is defined as greater than 15 years. Medium-term is defined as a term of 15 years or less. The following table details the par value of mortgage loans held for portfolio outstanding categorized by type as of June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Conventional loans $ 2,721,816 $ 2,779,962 Government-guaranteed/insured loans 263,292 278,501 Total par value $ 2,985,108 $ 3,058,463

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Past Due Financing Receivables	Credit Quality Indicators. Key credit quality indicators for mortgage and BOB loans include the migration of past due loans, nonaccrual loans, loans in process of foreclosure, and impaired loans. (in thousands) June 30, 2015 Recorded investment: (1) Conventional MPF Loans Government-Guaranteed or Insured BOB Loans Total Past due 30-59 days $ 40,053 $ 14,892 $ 49 $ 54,994 Past due 60-89 days 8,287 3,737 — 12,024 Past due 90 days or more 31,671 5,149 12 36,832 Total past due loans $ 80,011 $ 23,778 $ 61 $ 103,850 Total current loans 2,721,933 249,383 12,803 2,984,119 Total loans $ 2,801,944 $ 273,161 $ 12,864 $ 3,087,969 Other delinquency statistics: In process of foreclosures, included above (2) $ 25,734 $ 2,721 $ — $ 28,455 Serious delinquency rate (3) 1.1 % 1.9 % 0.1 % 1.2 % Past due 90 days or more still accruing interest $ — $ 5,149 $ — $ 5,149 Loans on nonaccrual status (4) $ 35,158 $ — $ 172 $ 35,330 (in thousands) December 31, 2014 Recorded investment: (1) Conventional MPF Loans Government-Guaranteed or Insured BOB Loans Total Past due 30-59 days $ 50,680 $ 19,238 $ 124 $ 70,042 Past due 60-89 days 11,841 6,034 73 17,948 Past due 90 days or more 41,983 7,024 8 49,015 Total past due loans $ 104,504 $ 32,296 $ 205 $ 137,005 Total current loans 2,753,466 256,606 13,313 3,023,385 Total loans $ 2,857,970 $ 288,902 $ 13,518 $ 3,160,390 Other delinquency statistics: In process of foreclosures, included above (2) $ 26,981 $ 2,389 $ — $ 29,370 Serious delinquency rate (3) 1.5 % 2.4 % 0.1 % 1.6 % Past due 90 days or more still accruing interest $ — $ 7,024 $ — $ 7,024 Loans on nonaccrual status (4) $ 45,900 $ — $ 205 $ 46,105 Notes: (1) The recorded investment in a loan is the unpaid principal balance of the loan, adjusted for charge-offs of estimated losses, accrued interest, net deferred loan fees or costs, unamortized premiums or unaccreted discounts and adjustments for fair value hedges. The recorded investment is not net of any valuation allowance. (2) Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu has been reported. Loans in process of foreclosure are included in past due or current loans dependent on their delinquency status. (3) Loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the total loan portfolio class. (4) Generally represents mortgage loans with contractual principal or interest payments 90 days or more past due and not accruing interest.
Individually Evaluated Impared Loan Statistic By Product Level	Individually Evaluated Impaired Loans. Information regarding individually evaluated impaired loans is as follows. As indicated above, these loans include impaired loans considered collateral-dependent. BOB loans are not significant and are excluded from the tables below. June 30, 2015 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance for Credit Losses With no related allowance: Conventional MPF loans $ 35,084 $ 34,763 $ — With a related allowance: Conventional MPF loans 28,103 27,871 5,206 Total: Conventional MPF loans $ 63,187 $ 62,634 $ 5,206 December 31, 2014 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance for Credit Losses With no related allowance: Conventional MPF loans $ 31,749 $ 31,448 $ — With a related allowance: Conventional MPF loans 36,395 36,175 6,034 Total: Conventional MPF loans $ 68,144 $ 67,623 $ 6,034
Impaired Financing Receivables	The table below presents the average recorded investment of individually impaired loans and related interest income recognized. The Bank included the individually impaired loans as of the date on which they became impaired. Three months ended June 30, 2015 Three months ended June 30, 2014 (in thousands) Average Recorded Investment (1) Interest Income Recognized Average Recorded Investment (1) Interest Income Recognized Conventional MPF loans $ 64,133 $ 457 $ 77,444 $ 360 Six months ended June 30, 2015 Six months ended June 30, 2014 (in thousands) Average Recorded Investment (1) Interest Income Recognized Average Recorded Investment (1) Interest Income Recognized Conventional MPF loans $ 64,028 $ 880 $ 78,719 $ 682
Mortgage loans held for portfolio, net
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for Credit Losses on Financing Receivables	Rollforward of Allowance for Credit Losses. Mortgage Loans - Conventional MPF. Three months ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Balance, beginning of period $ 6,566 $ 7,318 $ 7,260 $ 11,359 (Charge-offs) Recoveries, net (1) (311 ) (302 ) (413 ) (302 ) Provision (benefit) for credit losses 45 527 (547 ) (3,514 ) Balance, June 30 $ 6,300 $ 7,543 $ 6,300 $ 7,543
Allowance for Credit Losses and Recorded Investment By Impairment Methodology	(in thousands) June 30, 2015 December 31, 2014 Ending balance, individually evaluated for impairment $ 5,206 $ 6,034 Ending balance, collectively evaluated for impairment 1,094 1,226 Total allowance for credit losses $ 6,300 $ 7,260 Recorded investment balance, end of period: Individually evaluated for impairment, with or without a related allowance $ 63,187 $ 68,144 Collectively evaluated for impairment 2,738,757 2,789,826 Total recorded investment $ 2,801,944 $ 2,857,970
Banking on Business Loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for Credit Losses on Financing Receivables	Rollforward of Allowance for Credit Losses. BOB Loans. Three months ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Balance, Beginning of period $ 1,660 $ 2,142 $ 1,840 $ 2,231 (Charge-offs) Recoveries, net (167 ) (155 ) (451 ) (355 ) Provision (benefit) for credit losses 265 (13 ) 369 98 Balance, June 30 $ 1,758 $ 1,974 $ 1,758 $ 1,974
Allowance for Credit Losses and Recorded Investment By Impairment Methodology	(in thousands) June 30, 2015 December 31, 2014 Ending balance, individually evaluated for impairment $ 44 $ — Ending balance, collectively evaluated for impairment 1,714 1,840 Total allowance for credit losses $ 1,758 $ 1,840 Recorded investment balance, end of period: Individually evaluated for impairment, with or without a related allowance $ 112 $ — Collectively evaluated for impairment 12,752 13,518 Total recorded investment $ 12,864 $ 13,518

Derivatives and Hedging Activ32

Derivatives and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following tables summarize the notional and fair value of derivative instruments as of June 30, 2015 and December 31, 2014 . June 30, 2015 (in thousands) Notional Amount of Derivatives Derivative Assets Derivative Liabilities Derivatives in hedge accounting relationships: Interest rate swaps $ 35,609,121 $ 94,745 $ 341,487 Derivatives not in hedge accounting relationships: Interest rate swaps $ 10,264,391 $ 23,315 $ 43,037 Interest rate swaptions 25,000 109 — Interest rate caps 725,000 3,639 — Mortgage delivery commitments 23,337 477 — Total derivatives not in hedge accounting relationships $ 11,037,728 $ 27,540 $ 43,037 Total derivatives before netting and collateral adjustments $ 46,646,849 $ 122,285 $ 384,524 Netting adjustments and cash collateral (1) (58,133 ) (321,149 ) Derivative assets and derivative liabilities as reported on the Statement of Condition $ 64,152 $ 63,375 December 31, 2014 (in thousands) Notional Amount of Derivatives Derivative Assets Derivative Liabilities Derivatives in hedge accounting relationships: Interest rate swaps $ 32,196,669 $ 84,205 $ 414,760 Derivatives not in hedge accounting relationships: Interest rate swaps $ 11,937,989 $ 21,396 $ 52,925 Interest rate swaptions 25,000 1,312 — Interest rate caps 675,000 4,425 — Mortgage delivery commitments 18,308 434 — Total derivatives not in hedge accounting relationships $ 12,656,297 $ 27,567 $ 52,925 Total derivatives before netting and collateral adjustments $ 44,852,966 $ 111,772 $ 467,685 Netting adjustments and cash collateral (1) (75,555 ) (408,721 ) Derivative assets and derivative liabilities as reported on the Statement of Condition $ 36,217 $ 58,964 Note: (1) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparties. Cash collateral posted was $265.6 million and $345.0 million at June 30, 2015 and December 31, 2014. Cash collateral received was $2.6 million and $11.8 million at June 30, 2015 and December 31, 2014.
Derivative Instruments, Gain (Loss)	The following table presents the components of net gains (losses) on derivatives and hedging activities as presented in the Statements of Income. Three months ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Derivatives designated as hedging instruments: Interest rate swaps $ 2,812 $ 1,415 $ 3,397 $ 1,927 Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps $ 20,093 $ (18,764 ) $ 4,243 $ (34,537 ) Interest rate swaptions 26 313 165 265 Interest rate caps (620 ) (1,987 ) (908 ) (3,541 ) Net interest settlements 4,226 7,138 9,918 13,549 Mortgage delivery commitments 2,591 2,377 4,734 3,623 Other 5 5 12 12 Total net gains (losses) related to derivatives not designated as hedging instruments $ 26,321 $ (10,918 ) $ 18,164 $ (20,629 ) Net gains (losses) on derivatives and hedging activities $ 29,133 $ (9,503 ) $ 21,561 $ (18,702 )
Schedule Of Derivative Instruments By Type Gain Loss In Statement Of Financial Performance	The following tables present, 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 Bank’s net interest income for the three and six months ended June 30, 2015 and 2014 . (in thousands) Gains/(Losses) on Derivative Gains/(Losses) on Hedged Item Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income (1) Three months ended June 30, 2015 Hedged item type: Advances $ 62,731 $ (62,164 ) $ 567 $ (48,368 ) Consolidated obligations – bonds (38,730 ) 38,775 45 62,223 AFS securities 29,259 (27,059 ) 2,200 (4,330 ) Total $ 53,260 $ (50,448 ) $ 2,812 $ 9,525 Six months ended June 30, 2015 Hedged item type: Advances $ 52,718 $ (51,989 ) $ 729 $ (95,362 ) Consolidated obligations – bonds 15,860 (15,120 ) 740 123,838 AFS securities 17,524 (15,596 ) 1,928 (7,762 ) Total $ 86,102 $ (82,705 ) $ 3,397 $ 20,714 (in thousands) Gains/(Losses) on Derivative Gains/(Losses) on Hedged Item Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income (1) Three months ended June 30, 2014 Hedged item type: Advances $ 12,666 $ (12,372 ) $ 294 $ (56,605 ) Consolidated obligations – bonds 64,589 (62,955 ) 1,634 59,112 AFS securities (9,707 ) 9,194 (513 ) (2,891 ) Total $ 67,548 $ (66,133 ) $ 1,415 $ (384 ) Six months ended June 30, 2014 Hedged item type: Advances $ 60,676 $ (59,635 ) $ 1,041 $ (116,995 ) Consolidated obligations – bonds 110,385 (108,610 ) 1,775 113,549 AFS securities (18,844 ) 17,955 (889 ) (5,435 ) Total $ 152,217 $ (150,290 ) $ 1,927 $ (8,881 ) Note: (1) Represents the net interest settlements on derivatives in fair value hedge relationships presented in the interest income/expense line item of the respective hedged item. These amounts do not include $0.9 million and $4.5 million for the second quarter 2015 and 2014, respectively, and $2.9 million and $8.0 million for the six months ended June 30, 2015 and 2014, respectively, of amortization/accretion of the basis adjustment related to discontinued fair value hedging relationships.
Offsetting Assets	The Bank 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. The following tables present separately the fair value of derivative instruments meeting or not meeting netting requirements, including the related collateral received from or pledged to counterparties. Derivative Assets (in thousands) June 30, 2015 December 31, 2014 Derivative instruments meeting netting requirements: Gross recognized amount: Bilateral derivatives $ 67,039 $ 102,570 Cleared derivatives 54,769 8,768 Total gross recognized amount 121,808 111,338 Gross amounts of netting adjustments and cash collateral: Bilateral derivatives (65,288 ) (96,286 ) Cleared derivatives 7,155 20,731 Total gross amounts of netting adjustments and cash collateral (58,133 ) (75,555 ) Net amounts after netting adjustments: Bilateral derivatives 1,751 6,284 Cleared derivatives 61,924 29,499 Total net amounts after netting adjustments 63,675 35,783 Derivative instruments not meeting netting requirements: (1) Bilateral derivatives 477 434 Cleared derivatives — — Derivative instruments not meeting netting requirements 477 434 Total derivative assets Bilateral derivatives 2,228 6,718 Cleared derivatives 61,924 29,499 Total derivative assets as reported in the Statement of Condition 64,152 36,217 Non-cash collateral received or pledged not offset: Can be sold or repledged Bilateral derivatives — (636 ) Cleared derivatives — — Non-cash Collateral received or pledged - Can be sold or repledged — (636 ) Net unsecured amount: Bilateral derivatives 2,228 6,082 Cleared derivatives 61,924 29,499 Total net unsecured amount $ 64,152 $ 35,581
Offsetting Liabilities	Derivative Liabilities (in thousands) June 30, 2015 December 31, 2014 Derivative instruments meeting netting requirements: Gross recognized amount: Bilateral derivatives $ 223,521 $ 283,979 Cleared derivatives 161,003 183,706 Total gross recognized amount 384,524 467,685 Gross amounts of netting adjustments and cash collateral: Bilateral derivatives (160,146 ) (225,015 ) Cleared derivatives (161,003 ) (183,706 ) Total gross amounts of netting adjustments and cash collateral (321,149 ) (408,721 ) Net amounts after netting adjustments: Bilateral derivatives 63,375 58,964 Cleared derivatives — — Total net amounts after offsetting adjustments 63,375 58,964 Total derivative liabilities Bilateral derivatives 63,375 58,964 Cleared derivatives — — Total derivative liabilities as reported in the Statement of Condition 63,375 58,964 Net unsecured amount: Bilateral derivatives 63,375 58,964 Net unsecured amount $ 63,375 $ 58,964 Notes: (1) Represents derivatives that are not subject to an enforceable netting agreement (e.g., mortgage delivery commitments and certain interest-rate futures or forwards).

Consolidated Obligations (Table

Consolidated Obligations (Tables)	6 Months Ended
	Jun. 30, 2015
Schedule of Short-term and Long-term Debt [Line Items]
Schedule of Interest Rate Payment Terms for Debt	The following table details interest rate payment terms for the Bank's consolidated obligation bonds as of June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Par value of consolidated bonds: Fixed-rate $ 37,472,066 $ 36,296,100 Step-up 3,040,000 3,116,000 Floating-rate 6,925,000 4,190,000 Conversion bonds - fixed to floating 10,000 — Total par value 47,447,066 43,602,100 Bond premiums 131,412 147,824 Bond discounts (9,707 ) (12,111 ) Hedging adjustments (15,824 ) (23,303 ) Total book value $ 47,552,947 $ 43,714,510
Schedule of Maturities of Debt	The following table presents a summary of the Bank’s consolidated obligation bonds outstanding by year of contractual maturity as of June 30, 2015 and December 31, 2014 . June 30, 2015 December 31, 2014 (dollars in thousands) Year of Contractual Maturity Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Due in 1 year or less $ 16,219,835 0.65 % $ 15,033,450 1.00 % Due after 1 year through 2 years 10,781,985 1.20 9,316,860 1.42 Due after 2 years through 3 years 8,813,735 1.52 5,346,515 1.64 Due after 3 years through 4 years 2,338,620 1.53 4,709,300 1.50 Due after 4 years through 5 years 3,998,720 1.83 2,911,350 1.72 Thereafter 5,110,150 2.42 5,959,265 2.35 Index amortizing notes 184,021 4.72 325,360 4.14 Total par value $ 47,447,066 1.28 % $ 43,602,100 1.48 %
Schedule of Long-term Debt by Call Feature	The following table presents the Bank’s consolidated obligation bonds outstanding between noncallable and callable as of June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Noncallable $ 33,664,066 $ 30,388,100 Callable 13,783,000 13,214,000 Total par value $ 47,447,066 $ 43,602,100
Schedule of Maturities of Long-term Debt by Contractual or Next Call Date	The following table presents consolidated obligation bonds outstanding by the earlier of contractual maturity or next call date as of June 30, 2015 and December 31, 2014 . (in thousands) Year of Contractual Maturity or Next Call Date June 30, 2015 December 31, 2014 Due in 1 year or less $ 29,892,835 $ 28,232,450 Due after 1 year through 2 years 9,394,985 8,114,860 Due after 2 years through 3 years 4,691,735 3,551,515 Due after 3 years through 4 years 1,259,620 1,390,300 Due after 4 years through 5 years 1,118,720 1,028,350 Thereafter 905,150 959,265 Index amortizing notes 184,021 325,360 Total par value $ 47,447,066 $ 43,602,100
Discount Notes
Schedule of Short-term and Long-term Debt [Line Items]
Schedule of Short-term Debt	The following table details the Bank’s consolidated obligation discount notes as of June 30, 2015 and December 31, 2014 . (dollars in thousands) June 30, 2015 December 31, 2014 Book value $ 41,061,124 $ 37,058,118 Par value 41,069,968 37,065,745 Weighted average interest rate (1) 0.11 % 0.10 %

Capital (Tables)

Capital (Tables)	6 Months Ended
	Jun. 30, 2015
Capital [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations	The following table demonstrates the Bank’s compliance with its regulatory capital requirements at June 30, 2015 and December 31, 2014 . June 30, 2015 December 31, 2014 (dollars in thousands) Required Actual Required Actual Regulatory capital requirements: Risk-based capital $ 809,763 $ 4,280,552 $ 847,424 $ 3,879,108 Total capital-to-asset ratio 4.0 % 4.6 % 4.0 % 4.5 % Total regulatory capital 3,761,578 4,280,552 3,427,083 3,879,108 Leverage ratio 5.0 % 6.8 % 5.0 % 6.8 % Leverage capital 4,701,973 6,420,828 4,283,854 5,818,663
Schedule of Concentration in Capital Stock Held	(dollars in thousands) June 30, 2015 Member (1) Capital Stock % of Total PNC Bank, N.A., Wilmington, DE $ 964,805 28.2 % Santander Bank, N.A., Wilmington, DE 425,977 12.4 Chase Bank USA, N.A.,Wilmington, DE 424,722 12.4 (dollars in thousands) December 31, 2014 Member (1) Capital Stock % of Total PNC Bank, N.A., Wilmington, DE $ 876,305 28.8 % Santander Bank, N.A., Wilmington, DE 424,955 14.0 Chase Bank USA, N.A.,Wilmington, DE 362,050 11.9 Note: (1) For Bank membership purposes, the principal place of business for PNC Bank, N.A. is Pittsburgh, PA.
Schedule of Mandatorily Redeemable Capital Stock	The following table provides the related dollar amounts for activities recorded in mandatorily redeemable capital stock during the six months ended June 30, 2015 and 2014. Six months ended June 30, (in thousands) 2015 2014 Balance, beginning of the period $ 586 $ 40 Capital stock subject to mandatory redemption reclassified from capital stock: Due to withdrawals (includes mergers) — 8,422 Net redemption/repurchase of mandatorily redeemable capital stock (24 ) (5,572 ) Balance, end of period $ 562 $ 2,890
Schedule of Mandatorily Redeemable Capital Stock by Maturity Date	The following table shows the amount of mandatorily redeemable capital stock by contractual year of redemption at June 30, 2015 and December 31, 2014 . (in thousands) June 30, 2015 December 31, 2014 Due in 1 year or less $ — $ — Due after 1 year through 2 years — — Due after 2 years through 3 years — — Due after 3 years through 4 years 562 — Due after 4 years through 5 years — 586 Total $ 562 $ 586
Schedule of Accumulated Other Comprehensive Income (Loss)	(in thousands) Net Unrealized Gains(Losses) on AFS Non-credit OTTI Gains(Losses) on AFS Non-credit OTTI Gains(Losses) on HTM Net Unrealized Gains (Losses) on Hedging Activities Pension and Post-Retirement Plans Total March 31, 2014 $ (7,953 ) $ 79,085 $ — $ 287 $ (1,069 ) $ 70,350 Other comprehensive income (loss) before reclassification: Net unrealized gains 30,696 16,596 — — — 47,292 Net change in fair value of OTTI securities — 954 — — — 954 Reclassifications from OCI to net income: Amortization on hedging activities — — — (1) — (1 ) Pension and post-retirement — — — — 40 40 June 30, 2014 $ 22,743 $ 96,635 $ — $ 286 $ (1,029 ) $ 118,635 March 31, 2015 $ 54,948 $ 96,512 $ — $ 264 $ (2,668 ) $ 149,056 Other comprehensive income (loss) before reclassification: Net unrealized gains (losses) (24,755 ) (9,372 ) — — — (34,127 ) Noncredit OTTI losses transferred — (1,026 ) 1,026 — — — Net change in fair value of OTTI securities — (1,864 ) — — — (1,864 ) Reclassifications from OCI to net income: Noncredit component of OTTI losses — — (1,026 ) — — (1,026 ) Amortization on hedging activities — — — (4 ) — (4 ) Pension and post-retirement — — — — 82 82 June 30, 2015 $ 30,193 $ 84,250 $ — $ 260 $ (2,586 ) $ 112,117 The following table summarizes the changes in AOCI for the six months ended June 30, 2015 and 2014. (in thousands) Net Unrealized Gains(Losses) on AFS Non-credit OTTI Gains(Losses) on AFS Non-credit OTTI Gains(Losses) on HTM Net Unrealized Gains (Losses) on Hedging Activities Pension and Post-Retirement Plans Total December 31, 2013 $ (32,481 ) $ 77,642 $ — $ 287 $ (1,108 ) $ 44,340 Other comprehensive income (loss) before Net unrealized gains 55,224 16,021 — — — 71,245 Net change in fair value of OTTI securities — 2,972 — — — 2,972 Reclassifications from OCI to net income: Amortization on hedging activities — — — (1 ) — (1 ) Pension and post-retirement — — — — 79 79 June 30, 2014 $ 22,743 $ 96,635 $ — $ 286 $ (1,029 ) $ 118,635 December 31, 2014 $ 32,460 $ 94,451 $ — $ 272 $ (2,750 ) $ 124,433 Other comprehensive income (loss) before Net unrealized gains (losses) (2,267 ) (8,017 ) — — — (10,284 ) Noncredit OTTI losses transferred — (1,026 ) 1,026 — — — Net change in fair value of OTTI securities — (1,158 ) — — — (1,158 ) Reclassifications from OCI to net income: Noncredit component of OTTI losses — — (1,026 ) — — (1,026 ) Amortization on hedging activities — — — (12 ) — (12 ) Pension and post-retirement — — — — 164 164 June 30, 2015 $ 30,193 $ 84,250 $ — $ 260 $ (2,586 ) $ 112,117

Transactions with Related Par35

Transactions with Related Parties (Tables)	6 Months Ended
	Jun. 30, 2015
Related Party Transaction [Line Items]
Related Party Transactions, by Balance Sheet Grouping	The following table includes significant outstanding related party member balances. (in thousands) June 30, 2015 December 31, 2014 Investments $ 148,335 $ 157,025 Advances 42,812,880 38,765,267 Letters of credit (1) 9,283,970 9,608,983 MPF loans 1,184,879 1,326,807 Deposits 10,292 13,678 Capital stock 1,885,879 1,714,432
Related Party Transactions, Income Statement	The following table summarizes the effects on the Statement of Income corresponding to the related party member balances above. Amounts related to Federal funds sold, interest income on investments, and interest expense on deposits were immaterial for the periods presented. Three months ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Interest income on advances (1) $ 44,843 $ 33,778 $ 83,896 $ 66,581 Interest income on MPF loans 16,646 21,124 34,269 42,430 Letter of credit fees 3,819 1,971 6,847 3,853 Prepayment fees on advances — — — 3,090 Note: (1) For the three and six months ended June 30, 2015 , balances include contractual interest income of $78.6 million and $151.4 million , net interest settlements on derivatives in fair value hedge relationships of $(33.6) million and $(67.0) million and total amortization of basis adjustments of $(0.2) million and $(0.6) million . For the three and six months ended June 30, 2014 , balances include contractual interest income of $79.1 million and $162.7 million , net interest settlements on derivatives in fair value hedge relationships of $(44.8) million and $(93.5) million and total amortization of basis adjustments of $(0.5) million and $(2.6) million .
Schedule of Related Party Transactions, Mortgage Loans	The following table includes the MPF activity of the related party members. Three months ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Total MPF loan volume purchased $ 5,438 $ 432 $ 6,845 $ 1,321
FHLBank of Chicago [Member]
Related Party Transaction [Line Items]
Schedule of Related Party Transactions, Mortgage Loans	The following table summarizes the effect of the MPF activities with FHLBank of Chicago. Three months ended June 30, Six months ended June 30, (in thousands) 2015 2014 2015 2014 Servicing fee expense $ 284 $ 242 $ 552 $ 479 (in thousands) June 30, 2015 December 31, 2014 Interest-bearing deposits maintained with FHLBank of Chicago $ 6,485 $ 6,782

Estimated Fair Values (Tables)

Estimated Fair Values (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The carrying value and estimated fair value of the Bank’s financial instruments at June 30, 2015 and December 31, 2014 are presented in the table below. Fair Value Summary Table June 30, 2015 (in thousands) Carrying Value Level 1 Level 2 Level 3 Netting Adjust. (2) Estimated Fair Value Assets: Cash and due from banks $ 5,377,254 $ 5,377,254 $ — $ — $ — $ 5,377,254 Interest-bearing deposits 6,485 — 6,485 — — 6,485 Federal funds sold 2,810,000 — 2,809,992 — — 2,809,992 Trading securities 369,976 5,239 364,737 — — 369,976 AFS securities 7,858,609 1,998 6,938,215 918,396 — 7,858,609 HTM securities 2,869,192 — 2,319,426 586,675 — 2,906,101 Advances 71,489,152 — 71,516,603 — — 71,516,603 Mortgage loans held for portfolio, net 3,052,971 — 3,215,254 — — 3,215,254 BOB loans, net 11,022 — — 11,022 — 11,022 Accrued interest receivable 93,983 — 93,983 — — 93,983 Derivative assets 64,152 — 122,285 — (58,133 ) 64,152 Liabilities: Deposits $ 670,358 $ — $ 670,364 $ — $ — $ 670,364 Discount notes 41,061,124 — 41,063,548 — — 41,063,548 Bonds 47,552,947 — 47,712,440 — — 47,712,440 Mandatorily redeemable capital stock (1) 562 569 — — — 569 Accrued interest payable (1) 103,761 — 103,754 — — 103,754 Derivative liabilities 63,375 — 384,524 — (321,149 ) 63,375 December 31, 2014 (in thousands) Carrying Value Level 1 Level 2 Level 3 Netting Adjust. (2) Estimated Fair Value Assets: Cash and due from banks $ 2,451,131 $ 2,451,131 $ — $ — $ — $ 2,451,131 Interest-bearing deposits 6,782 — 6,782 — — 6,782 Federal funds sold 4,585,000 — 4,584,981 — — 4,584,981 Trading securities 281,016 4,721 276,295 — — 281,016 AFS securities 8,408,835 1,998 7,424,055 982,782 — 8,408,835 HTM securities 3,246,788 — 2,600,638 685,909 — 3,286,547 Advances 63,408,355 — 63,471,078 — — 63,471,078 Mortgage loans held for portfolio, net 3,123,334 — 3,312,186 — — 3,312,186 BOB loans, net 11,567 — — 11,567 — 11,567 Accrued interest receivable 86,109 — 86,109 — — 86,109 Derivative assets 36,217 — 111,772 — (75,555 ) 36,217 Liabilities: Deposits $ 641,180 $ — $ 641,183 $ — $ — $ 641,183 Discount notes 37,058,118 — 37,059,347 — — 37,059,347 Bonds 43,714,510 — 43,881,951 — — 43,881,951 Mandatorily redeemable capital stock (1) 586 705 — — — 705 Accrued interest payable (1) 103,151 — 103,032 — — 103,032 Derivative liabilities 58,964 — 467,685 — (408,721 ) 58,964 Notes: (1) The estimated fair value amount for the mandatorily redeemable capital stock line item includes accrued dividend interest; this amount is excluded from the estimated fair value for the accrued interest payable line item. (2) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions and also cash collateral held or placed by the Bank with the same clearing agent and/or counterparties.
Fair Value Measurements, Recurring and Nonrecurring	The following tables present, for each hierarchy level, the Bank’s assets and liabilities that are measured at fair value on a recurring or non-recurring basis on its Statements of Condition at June 30, 2015 and December 31, 2014 . The Bank measures certain mortgage loans held for portfolio at fair value due to recognition of a credit loss. Real estate owned is measured using fair value when the assets' fair value less costs to sell is lower than the carrying amount. June 30, 2015 (in thousands) Level 1 Level 2 Level 3 Netting Adjustment (1) Total Recurring fair value measurements - Assets Trading securities: GSE and TVA obligations $ — $ 364,737 $ — $ — $ 364,737 Mutual funds 5,239 — — — 5,239 Total trading securities $ 5,239 $ 364,737 $ — $ — $ 369,976 AFS securities: GSE and TVA obligations $ — $ 3,027,847 $ — $ — $ 3,027,847 State or local agency obligations — 90,085 — — 90,085 Mutual funds 1,998 — — — 1,998 Other U.S. obligations single family MBS — 298,725 — — 298,725 GSE single-family MBS — 2,667,334 — — 2,667,334 GSE multifamily MBS — 854,224 — — 854,224 Private label MBS: Private label residential MBS — — 907,925 — 907,925 HELOCs — — 10,471 — 10,471 Total AFS securities $ 1,998 $ 6,938,215 $ 918,396 $ — $ 7,858,609 Derivative assets: Interest rate related $ — $ 121,808 $ — $ (58,133 ) $ 63,675 Mortgage delivery commitments — 477 — — 477 Total derivative assets $ — $ 122,285 $ — $ (58,133 ) $ 64,152 Total recurring assets at fair value $ 7,237 $ 7,425,237 $ 918,396 $ (58,133 ) $ 8,292,737 Recurring fair value measurements - Liabilities Derivative liabilities: Interest rate related $ — $ 384,524 $ — $ (321,149 ) $ 63,375 Total recurring liabilities at fair value (2) $ — $ 384,524 $ — $ (321,149 ) $ 63,375 Non-recurring fair value measurements - Assets Impaired mortgage loans held for portfolio (3) $ — $ — $ 27,970 $ — $ 27,970 Real estate owned (3) — — 4,695 — 4,695 Total non-recurring assets at fair value $ — $ — $ 32,665 $ — $ 32,665 December 31, 2014 (in thousands) Level 1 Level 2 Level 3 Netting Adjustment (1) Total Recurring fair value measurements - Assets Trading securities: GSE and TVA obligations $ — $ 276,295 $ — $ — $ 276,295 Mutual funds 4,721 — — — 4,721 Total trading securities $ 4,721 $ 276,295 $ — $ — $ 281,016 AFS securities: GSE and TVA obligations $ — $ 3,233,703 $ — $ — 3,233,703 State or local agency obligations — 98,984 — — 98,984 Mutual funds 1,998 — — — 1,998 Other U.S. obligations single family MBS — 329,379 — — 329,379 GSE single-family MBS — 2,882,162 — — 2,882,162 GSE multifamily MBS — 879,827 — — 879,827 Private label MBS: Private label residential MBS — — 971,083 — 971,083 HELOCs — — 11,699 — 11,699 Total AFS securities $ 1,998 $ 7,424,055 $ 982,782 $ — $ 8,408,835 Derivative assets: Interest rate related $ — $ 111,338 $ — $ (75,555 ) $ 35,783 Mortgage delivery commitments — 434 — — 434 Total derivative assets $ — $ 111,772 $ — $ (75,555 ) $ 36,217 Total recurring assets at fair value $ 6,719 $ 7,812,122 $ 982,782 $ (75,555 ) $ 8,726,068 Recurring fair value measurements - Liabilities Derivative liabilities: Interest rate related $ — $ 467,685 $ — $ (408,721 ) $ 58,964 Total recurring liabilities at fair value (2) $ — $ 467,685 $ — $ (408,721 ) $ 58,964 Notes: (1) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions and also cash collateral held or placed by the Bank with the same clearing agent and/or counterparties. (2) Derivative liabilities represent the total liabilities at fair value. (3) These amounts were immaterial for the year ended December 31, 2014. The estimated fair values of impaired mortgage loans held for portfolio and real estate owned are determined based on values provided by a third party's retail-based AVM. The Bank adjusts the AVM value downward based on the amount it has historically received on liquidation.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following table presents a reconciliation of all assets and liabilities that are measured at fair value on the Statement of Condition using significant unobservable inputs (Level 3) for the six months ended June 30, 2015 and 2014. For instruments carried at fair value, the Bank reviews the fair value hierarchy classifications on a quarterly basis. Changes in the observability of the valuation attributes may result in a reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in/out at fair value in the quarter in which the changes occur, and transfers are reported as of the beginning of the period. During the first six months of 2015, the Bank transferred one private label MBS from its HTM portfolio to its AFS portfolio, in the period in which the OTTI charge was recorded. There were no Level 3 transfers during the first six months of 2014. (in thousands) AFS Private Label MBS-Residential Six Months Ended June 30, 2015 AFS Private Label MBS- HELOCs Six Months Ended June 30, 2015 Balance at January 1 $ 971,083 $ 11,699 Total gains (losses) (realized/unrealized) included in: Accretion of credit losses in interest income 9,512 734 Net unrealized gains on AFS in OCI 42 — Net change in fair value on OTTI AFS in OCI (1,157 ) (1 ) Unrealized gains (losses) on OTTI AFS in OCI (7,555 ) (462 ) Purchases, issuances, sales, and settlements: Settlements (67,368 ) (1,499 ) Transfer of OTTI securities from HTM to AFS 3,368 — Balance at June 30 $ 907,925 $ 10,471 Total amount of gains for the period presented included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at June 30, 2015 $ 9,512 $ 734 (in thousands) AFS Private Label MBS-Residential Six Months Ended June 30, 2014 AFS Private Label MBS- HELOCs Six Months Ended June 30, 2014 Balance at January 1 $ 1,123,624 $ 14,428 Total gains (losses) (realized/unrealized) included in: Accretion of credit losses in interest income 6,087 663 Net unrealized (losses) on AFS in OCI (60 ) — Net change in fair value on OTTI AFS in OCI 2,932 40 Unrealized gains (losses) on OTTI AFS in OCI 15,967 54 Purchases, issuances, sales, and settlements: Settlements (90,601 ) (1,869 ) Balance at June 30 $ 1,057,949 $ 13,316 Total amount of gains for the period presented included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at June 30, 2014 $ 6,087 $ 663

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Off-Balance Sheet Commitments	The following table presents the Bank's various off-balance sheet commitments which are described in detail below. (in thousands) June 30, 2015 December 31, 2014 Notional amount Expiration Date Within One Year Expiration Date After One Year Total Total Standby letters of credit outstanding (1) (2) $ 20,487,833 $ — $ 20,487,833 $ 19,942,125 Commitments to fund additional advances and BOB loans 123,621 75,000 198,621 21,124 Commitments to fund or purchase mortgage loans 23,337 — 23,337 18,308 Unsettled consolidated obligation bonds, at par (3) 535,450 — 535,450 95,530 Unsettled consolidated obligation discount notes, at par 320,000 — 320,000 500,000 Notes : (1) Excludes approved requests to issue future standby letters of credit of $204.0 million and $146.8 million at June 30, 2015 and December 31, 2014 , respectively. (2) $5.8 billion of these letters of credit have annual renewal language that, as long as both parties agree, permit the letter of credit to be renewed for an additional year with a maximum renewal period of 5 years. (3) Includes $487.0 million and $83.1 million of consolidated obligation bonds which were hedged with associated interest rate swaps at June 30, 2015 and December 31, 2014 , respectively.

Background Information (Details

Background Information (Details) - Jun. 30, 2015 - Banks	Total
Nature of Operations [Line Items]
Number of Federal Home Loan Banks	11
Minimum
Nature of Operations [Line Items]
Related Party Transaction, Definition Of Related Party, Capital Stock, Percent	10.00%

Trading Securities (Details)

Trading Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading securities	$ 369,976	$ 281,016
Deferred Compensation Liabilities	5,300	4,900
Mutual Funds [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading securities	5,239	4,721
GSE and TVA obligations [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading securities	$ 364,737	$ 276,295

Trading Securities (Net Gains (

Trading Securities (Net Gains (Losses) on Trading Securities) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Trading Securities [Abstract]
Net unrealized gains on trading securities held at period-end	$ (10,133)	$ 6,789	$ (3,356)	$ 16,495
Net realized gains on securities sold/matured during the period	0	0	0	86
Net gains on trading securities	$ (10,133)	$ 6,789	$ (3,356)	$ 16,581

Available-for-Sale (AFS) Secu41

Available-for-Sale (AFS) Securities (Summary of Available-for-Sale Securities) (Details) - USD ($)		Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	[1]	$ 7,744,166,000	$ 8,281,924,000
OTTI Recognized in AOCI (2)	[2]	(3,048,000)	(863,000)
Gross Unrealized Gains		129,746,000	140,268,000
Gross Unrealized Losses		(12,255,000)	(12,494,000)
Fair Value		7,858,609,000	8,408,835,000
Other Than Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	[1]	3,106,691,000	3,322,152,000
OTTI Recognized in AOCI (2)	[2]	0	0
Gross Unrealized Gains		18,596,000	18,418,000
Gross Unrealized Losses		(5,357,000)	(5,885,000)
Fair Value		3,119,930,000	3,334,685,000
Mutual Funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	[1]	1,993,000	1,993,000
OTTI Recognized in AOCI (2)	[2]	0	0
Gross Unrealized Gains		5,000	5,000
Gross Unrealized Losses		0	0
Fair Value		1,998,000	1,998,000
GSE and TVA obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	[1]	3,011,630,000	3,221,543,000
OTTI Recognized in AOCI (2)	[2]	0	0
Gross Unrealized Gains		18,417,000	17,661,000
Gross Unrealized Losses		(2,200,000)	(5,501,000)
Fair Value		3,027,847,000	3,233,703,000
State or local agency obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	[1]	93,068,000	98,616,000
OTTI Recognized in AOCI (2)	[2]	0	0
Gross Unrealized Gains		174,000	752,000
Gross Unrealized Losses		(3,157,000)	(384,000)
Fair Value		90,085,000	98,984,000
Total MBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	[1]	4,637,475,000	4,959,772,000
OTTI Recognized in AOCI (2)	[2]	(3,048,000)	(863,000)
Gross Unrealized Gains		111,150,000	121,850,000
Gross Unrealized Losses		(6,898,000)	(6,609,000)
Fair Value		4,738,679,000	5,074,150,000
Other U.S. obligations single family MBS
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	[1]	298,284,000	328,787,000
OTTI Recognized in AOCI (2)	[2]	0	0
Gross Unrealized Gains		494,000	592,000
Gross Unrealized Losses		(53,000)	0
Fair Value		298,725,000	329,379,000
Private label MBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	[1]	834,395,000	888,621,000
OTTI Recognized in AOCI (2)	[2]	(3,048,000)	(863,000)
Gross Unrealized Gains		87,297,000	95,314,000
Gross Unrealized Losses		(248,000)	(290,000)
Fair Value		918,396,000	982,782,000
HELOCs
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	[1]	8,480,000	9,245,000
OTTI Recognized in AOCI (2)	[2]	(1,000)	0
Gross Unrealized Gains		1,992,000	2,454,000
Gross Unrealized Losses		0	0
Fair Value		10,471,000	11,699,000
Residential Mortgage Backed Securities [Member] | Private label MBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	[1]	825,915,000	879,376,000
OTTI Recognized in AOCI (2)	[2]	(3,047,000)	(863,000)
Gross Unrealized Gains		85,305,000	92,860,000
Gross Unrealized Losses		(248,000)	(290,000)
Fair Value		907,925,000	971,083,000
Single Family [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	[1]	2,658,980,000	2,869,855,000
OTTI Recognized in AOCI (2)	[2]	0	0
Gross Unrealized Gains		12,882,000	16,433,000
Gross Unrealized Losses		(4,528,000)	(4,126,000)
Fair Value		2,667,334,000	2,882,162,000
Multifamily [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	[1]	845,816,000	872,509,000
OTTI Recognized in AOCI (2)	[2]	0	0
Gross Unrealized Gains		10,477,000	9,511,000
Gross Unrealized Losses		(2,069,000)	(2,193,000)
Fair Value		$ 854,224,000	$ 879,827,000
[1]	Amortized cost includes adjustments made to the cost basis of an investment for accretion of discounts and/or amortization of premiums, collection of cash, previous OTTI recognized in earnings, and/or fair value hedge accounting adjustments.
[2]	Represents the non-credit portion of an OTTI recognized during the life of the security.

Available-for-Sale (AFS) Secu42

Available-for-Sale (AFS) Securities (Reconciliation of Available-for-Sale Securities OTTI Loss) (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Reconciliation Table of AFS AOCI [Line Items]
Non-credit portion of OTTI losses		$ (3,048)	$ (863)
Net unrealized gains on OTTI securities since their last OTTI credit charge		87,298	95,314
Net noncredit portion of OTTI gains on AFS securities in AOCI	[1]	3,048	863
Accumulated Other-than-Temporary Impairment [Member]
Reconciliation Table of AFS AOCI [Line Items]
Net noncredit portion of OTTI gains on AFS securities in AOCI		$ 84,250	$ 94,451
[1]	Represents the non-credit portion of an OTTI recognized during the life of the security.

Available-for-Sale (AFS) Secu43

Available-for-Sale (AFS) Securities (Summary of Securities with Unrealized Losses) (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Fair Value:
Less than 12 Months		$ 1,698,587	$ 1,878,058
Greater than 12 Months		523,427	796,869
Fair Value		2,222,014	2,674,927
Unrealized Losses:
UnrealizedLossPositionLessThan12Months		(10,109)	(4,692)
UnrealizedLossPositiongreaterthan12Months		(5,194)	(8,665)
Unrealized Losses (1)	[1]	(15,303)	(13,357)
Total non-MBS
Fair Value:
Less than 12 Months		1,122,272	1,784,778
Greater than 12 Months		307,537	334,076
Fair Value		1,429,809	2,118,854
Unrealized Losses:
UnrealizedLossPositionLessThan12Months		(4,870)	(4,394)
UnrealizedLossPositiongreaterthan12Months		(487)	(1,491)
Unrealized Losses (1)	[1]	(5,357)	(5,885)
GSE and TVA obligations [Member]
Fair Value:
Less than 12 Months		1,045,729	1,783,202
Greater than 12 Months		303,697	322,691
Fair Value		1,349,426	2,105,893
Unrealized Losses:
UnrealizedLossPositionLessThan12Months		(1,873)	(4,380)
UnrealizedLossPositiongreaterthan12Months		(327)	(1,121)
Unrealized Losses (1)	[1]	(2,200)	(5,501)
State or local agency obligations [Member]
Fair Value:
Less than 12 Months		76,543	1,576
Greater than 12 Months		3,840	11,385
Fair Value		80,383	12,961
Unrealized Losses:
UnrealizedLossPositionLessThan12Months		(2,997)	(14)
UnrealizedLossPositiongreaterthan12Months		(160)	(370)
Unrealized Losses (1)	[1]	(3,157)	(384)
Other U.S. obligations single family MBS
Fair Value:
Less than 12 Months		104,779
Greater than 12 Months		0
Fair Value		104,779
Unrealized Losses:
UnrealizedLossPositionLessThan12Months		(53)
UnrealizedLossPositiongreaterthan12Months		0
Unrealized Losses (1)	[1]	(53)
Total MBS [Member]
Fair Value:
Less than 12 Months		576,315	93,280
Greater than 12 Months		215,890	462,793
Fair Value		792,205	556,073
Unrealized Losses:
UnrealizedLossPositionLessThan12Months		(5,239)	(298)
UnrealizedLossPositiongreaterthan12Months		(4,707)	(7,174)
Unrealized Losses (1)	[1]	(9,946)	(7,472)
Private label MBS [Member]
Fair Value:
Less than 12 Months		59,370
Greater than 12 Months		17,001
Fair Value		76,371
Unrealized Losses:
UnrealizedLossPositionLessThan12Months		(2,845)
UnrealizedLossPositiongreaterthan12Months		(451)
Unrealized Losses (1)	[1]	(3,296)
Asset Backed Securities, Backed By Home Equity Loans [Member] [Domain]
Fair Value:
Less than 12 Months		1,368
Greater than 12 Months		0
Fair Value		1,368
Unrealized Losses:
UnrealizedLossPositionLessThan12Months		(1)
UnrealizedLossPositiongreaterthan12Months		0
Unrealized Losses (1)	[1]	(1)
Private label residential MBS | Private label MBS [Member]
Fair Value:
Less than 12 Months		58,002	58,553
Greater than 12 Months		17,001	49,383
Fair Value		75,003	107,936
Unrealized Losses:
UnrealizedLossPositionLessThan12Months		(2,844)	(191)
UnrealizedLossPositiongreaterthan12Months		(451)	(962)
Unrealized Losses (1)	[1]	(3,295)	(1,153)
Single Family [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Fair Value:
Less than 12 Months		202,168	19,405
Greater than 12 Months		198,889	228,257
Fair Value		401,057	247,662
Unrealized Losses:
UnrealizedLossPositionLessThan12Months		(272)	(3)
UnrealizedLossPositiongreaterthan12Months		(4,256)	(4,123)
Unrealized Losses (1)	[1]	(4,528)	(4,126)
Multifamily [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Fair Value:
Less than 12 Months		209,998	15,322
Greater than 12 Months		0	185,153
Fair Value		209,998	200,475
Unrealized Losses:
UnrealizedLossPositionLessThan12Months		(2,069)	(104)
UnrealizedLossPositiongreaterthan12Months		0	(2,089)
Unrealized Losses (1)	[1]	$ (2,069)	$ (2,193)
[1]	Total unrealized losses equal the sum of “OTTI Recognized in AOCI” and “Gross Unrealized Losses” in the first two tables of this Note 3.

Available-for-Sale (AFS) Secu44

Available-for-Sale (AFS) Securities (Redemption Terms) (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Amortized Cost:
Amortized Cost	[1]	$ 7,744,166	$ 8,281,924
Fair Value:
Fair Value		7,858,609	8,408,835
Total non-MBS
Amortized Cost:
Due in one year or less		195,992	301,985
Due after one year through five years		1,647,989	2,058,695
Due after five years through ten years		683,528	662,805
Due in more than ten years		579,182	298,667
Amortized Cost	[1]	3,106,691	3,322,152
Fair Value:
Due in one year or less		195,972	302,087
Due after one year through five years		1,648,029	2,054,517
Due after five years through ten years		699,385	676,064
Due in more than ten years		576,544	302,017
Fair Value		3,119,930	3,334,685
MBS [Member]
Amortized Cost:
Amortized Cost	[1]	4,637,475	4,959,772
Fair Value:
Fair Value		$ 4,738,679	$ 5,074,150
[1]	Amortized cost includes adjustments made to the cost basis of an investment for accretion of discounts and/or amortization of premiums, collection of cash, previous OTTI recognized in earnings, and/or fair value hedge accounting adjustments.

Available-for-Sale (AFS) Secu45

Available-for-Sale (AFS) Securities (Interest Rate Payment Terms) (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Total amortized cost of AFS securities	[1]	$ 7,744,166	$ 8,281,924
Total non-MBS
Schedule of Available-for-sale Securities [Line Items]
Total amortized cost of AFS securities	[1]	3,106,691	3,322,152
MBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Total amortized cost of AFS securities	[1]	4,637,475	4,959,772
Fixed Interest Rate [Member] | Total non-MBS
Schedule of Available-for-sale Securities [Line Items]
Total amortized cost of AFS securities		2,922,021	2,902,430
Fixed Interest Rate [Member] | MBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Total amortized cost of AFS securities		1,719,243	2,002,208
Variable interest rate [Domain] | Total non-MBS
Schedule of Available-for-sale Securities [Line Items]
Total amortized cost of AFS securities		184,670	419,722
Variable interest rate [Domain] | MBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Total amortized cost of AFS securities		$ 2,918,232	$ 2,957,564
[1]	Amortized cost includes adjustments made to the cost basis of an investment for accretion of discounts and/or amortization of premiums, collection of cash, previous OTTI recognized in earnings, and/or fair value hedge accounting adjustments.

Available-for-Sale (AFS) Secu46

Available-for-Sale (AFS) Securities (Narrative) (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015USD ($)loan	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Schedule of Available-for-sale Securities [Line Items]
Net purchased discounts	$ 8,600	$ 8,600			$ 9,500
Credit losses	277,251	277,251	$ 302,421	$ 283,916	290,935	$ 308,200	$ 314,224
Held to Maturity Securities Transferred to Available for Sale Securities During Period, Fair Value		3,368	$ 0
SERP [Member]
Schedule of Available-for-sale Securities [Line Items]
Supplemental retirement obligation	7,300	7,300			7,000
Available-for-sale Securities | MBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Credit losses	212,600	212,600			222,500
Other Than Temporary Impairment Credit Losses Recognized In Earnings Interest Accretion Adjustment	$ 21,900	$ 21,900			$ 11,700
Residential Mortgage Backed Securities [Member] | Total private label MBS
Schedule of Available-for-sale Securities [Line Items]
Number of Available-for-sale Securities Transferred from Held-to-maturity Securities | loan	1
Held to Maturity Securities Transferred to Available for Sale Securities During Period, Amortized Cost Basis	$ 4,400
Held to Maturity Securities Transferred to Available for Sale Securities During Period, Other Than Temporary Impairment Recognized in Accumulated Other Comprehensive Income	(1,000)
Held to Maturity Securities Transferred to Available for Sale Securities During Period, Fair Value	$ 3,400

Held-to-Maturity (HTM) Securi47

Held-to-Maturity (HTM) Securities (Summary of Held-to-Maturity Securities) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 2,869,192	$ 3,246,788
Gross Unrealized Holding Gains	56,626	64,463
Gross Unrealized Holding Losses	(19,717)	(24,704)
Fair Value	2,906,101	3,286,547
GSE securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	11,456	13,041
Gross Unrealized Holding Gains	157	382
Gross Unrealized Holding Losses	0	0
Fair Value	11,613	13,423
State or local agency obligations [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	175,722	184,412
Gross Unrealized Holding Gains	808	1,314
Gross Unrealized Holding Losses	(13,860)	(15,445)
Fair Value	162,670	170,281
Total non-MBS
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	187,178	197,453
Gross Unrealized Holding Gains	965	1,696
Gross Unrealized Holding Losses	(13,860)	(15,445)
Fair Value	174,283	183,704
Other U.S. obligations single-family MBS
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	973,944	1,122,537
Gross Unrealized Holding Gains	6,422	8,604
Gross Unrealized Holding Losses	(1)	0
Fair Value	980,365	1,131,141
MBS [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	2,682,014	3,049,335
Gross Unrealized Holding Gains	55,661	62,767
Gross Unrealized Holding Losses	(5,857)	(9,259)
Fair Value	2,731,818	3,102,843
Residential Mortgage Backed Securities [Member] | Private label MBS [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	589,430	691,544
Gross Unrealized Holding Gains	3,050	3,506
Gross Unrealized Holding Losses	(5,805)	(9,141)
Fair Value	586,675	685,909
Single Family [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	348,533	417,217
Gross Unrealized Holding Gains	6,025	7,226
Gross Unrealized Holding Losses	(51)	(118)
Fair Value	354,507	424,325
Multifamily [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	770,107	818,037
Gross Unrealized Holding Gains	40,164	43,431
Gross Unrealized Holding Losses	0	0
Fair Value	$ 810,271	$ 861,468

Held-to-Maturity (HTM) Securi48

Held-to-Maturity (HTM) Securities (Summary of Securities with Unrealized Losses) (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2015USD ($)loan	Dec. 31, 2014USD ($)
Fair Value:
Less than 12 Months	$ 157,573	$ 189,034
Greater than 12 Months	327,476	360,833
Fair Value	485,049	549,867
Unrealized Losses:
Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(1,075)	(1,345)
Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(18,642)	(23,359)
Total, Continuous Unrealized Loss Position, Accumulated Loss	(19,717)	(24,704)
State or local agency obligations [Member]
Fair Value:
Less than 12 Months	0	3,361
Greater than 12 Months	114,760	116,488
Fair Value	114,760	119,849
Unrealized Losses:
Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0	(54)
Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(13,860)	(15,391)
Total, Continuous Unrealized Loss Position, Accumulated Loss	(13,860)	(15,445)
Other U.S. obligations single-family MBS
Fair Value:
Less than 12 Months	11,198
Greater than 12 Months	0
Fair Value	11,198
Unrealized Losses:
Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(1)
Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0
Total, Continuous Unrealized Loss Position, Accumulated Loss	(1)
MBS [Member]
Fair Value:
Less than 12 Months	157,573	185,673
Greater than 12 Months	212,716	244,345
Fair Value	370,289	430,018
Unrealized Losses:
Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(1,075)	(1,291)
Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(4,782)	(7,968)
Total, Continuous Unrealized Loss Position, Accumulated Loss	$ (5,857)	(9,259)
Private label MBS [Member] | Residential Mortgage Backed Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Number of Available-for-sale Securities Transferred from Held-to-maturity Securities | loan	1
Residential Mortgage Backed Securities [Member] | Private label MBS [Member]
Fair Value:
Less than 12 Months	$ 146,375	185,673
Greater than 12 Months	202,639	233,287
Fair Value	349,014	418,960
Unrealized Losses:
Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(1,074)	(1,291)
Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(4,731)	(7,850)
Total, Continuous Unrealized Loss Position, Accumulated Loss	(5,805)	(9,141)
Single Family [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Fair Value:
Less than 12 Months	0	0
Greater than 12 Months	10,077	11,058
Fair Value	10,077	11,058
Unrealized Losses:
Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0	0
Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(51)	(118)
Total, Continuous Unrealized Loss Position, Accumulated Loss	$ (51)	$ (118)

Held-to-Maturity (HTM) Securi49

Held-to-Maturity (HTM) Securities (Redemption Terms) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Amortized Cost:
Amortized Cost	$ 2,869,192	$ 3,246,788
Fair Value:
Fair Value	2,906,101	3,286,547
Total non-MBS
Amortized Cost:
Due in one year or less	11,456	13,042
Due after one year through five years	0	3,415
Due after five years through ten years	60,197	21,807
Due after ten years	115,525	159,189
Amortized Cost	187,178	197,453
Fair Value:
Due in one year or less	11,613	13,423
Due after one year through five years	0	3,361
Due after five years through ten years	58,773	22,263
Due after ten years	103,897	144,657
Fair Value	174,283	183,704
MBS [Member]
Amortized Cost:
Amortized Cost	2,682,014	3,049,335
Fair Value:
Fair Value	$ 2,731,818	$ 3,102,843

Held-to-Maturity (HTM) Securi50

Held-to-Maturity (HTM) Securities (Interest Rate Payment Terms) (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2015USD ($)loan	Dec. 31, 2014USD ($)
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 2,869,192	$ 3,246,788
Total non-MBS
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	187,178	197,453
MBS [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	2,682,014	3,049,335
Fixed Interest Rate [Member] | Total non-MBS
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	41,838	44,453
Fixed Interest Rate [Member] | MBS [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	979,411	1,114,059
Variable interest rate [Domain] | Total non-MBS
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	145,340	153,000
Variable interest rate [Domain] | MBS [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 1,702,603	$ 1,935,276
Private label MBS [Member] | Residential Mortgage Backed Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Number of Available-for-sale Securities Transferred from Held-to-maturity Securities | loan	1

Other-Than-Temporary Impairme51

Other-Than-Temporary Impairment (OTTI Securities) (Details) $ in Thousands		Jun. 30, 2015USD ($)
Private label MBS [Member]
Other than Temporary Impairment, Disclosure [Line Items]
AFS Securities-Unpaid Principal Balance		$ 1,041,947
AFS Securities-Amortized Cost	[1]	834,395
AFS Securities-Fair Value		918,396
Available-for-sale Securities | Private label MBS [Member]
Other than Temporary Impairment, Disclosure [Line Items]
OTTI Securities-Unpaid Principal Balance		1,038,787
Private label MBS with no OTTI-Unpaid Principal Balance		3,160
OTTI Securities-Amortized Cost	[1]	831,235
Private label MBS with no OTTI - Amortized Cost	[1]	3,160
OTTI Securities-Fair Value		915,484
Private label MBS with no OTTI-Fair Value		2,912
Available-for-sale Securities | HELOCs [Member]
Other than Temporary Impairment, Disclosure [Line Items]
OTTI Securities-Unpaid Principal Balance		11,621
OTTI Securities-Amortized Cost	[1]	8,480
OTTI Securities-Fair Value		10,471
Residential Mortgage Backed Securities [Member] | Available-for-sale Securities | Private label MBS [Member] | Prime [Member]
Other than Temporary Impairment, Disclosure [Line Items]
OTTI Securities-Unpaid Principal Balance		470,704
OTTI Securities-Amortized Cost	[1]	383,470
OTTI Securities-Fair Value		427,855
Residential Mortgage Backed Securities [Member] | Available-for-sale Securities | Private label MBS [Member] | Alt-A [Member]
Other than Temporary Impairment, Disclosure [Line Items]
OTTI Securities-Unpaid Principal Balance		554,452
OTTI Securities-Amortized Cost	[1]	438,093
OTTI Securities-Fair Value		475,753
Residential Mortgage Backed Securities [Member] | Available-for-sale Securities | Private label MBS [Member] | Subprime [Member]
Other than Temporary Impairment, Disclosure [Line Items]
OTTI Securities-Unpaid Principal Balance		2,010
OTTI Securities-Amortized Cost	[1]	1,192
OTTI Securities-Fair Value		$ 1,405
[1]	Amortized cost includes adjustments made to the cost basis of an investment for accretion of discounts and/or amortization of premiums, collection of cash, and/or previous OTTI recognized in earnings.

Other-Than-Temporary Impairme52

Other-Than-Temporary Impairment (Rollforward) (Details) - Other than Temporary Impairment, Credit Losses Recognized in Earnings, Categories of Investments [Domain] - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Beginning balance		$ 283,916	$ 308,200	$ 290,935	$ 314,224
Credit losses for which OTTI was not previously recognized		483	0	483	0
Securities sold and matured during the period	[1]	0	112	0	36
Increases in cash flows expected to be collected, recognized over the remaining life of the securities(2)		(7,148)	(5,891)	(14,167)	(11,839)
Ending balance		$ 277,251	$ 302,421	$ 277,251	$ 302,421
[1]	Represents reductions related to securities sold or having reached final maturity during the period, and therefore are no longer held by the Bank at the end of the period.

Other-Than-Temporary Impairme53

Other-Than-Temporary Impairment (Narrative) (Details)	Jun. 30, 2015
Minimum
Other than Temporary Impairment, Disclosure [Line Items]
Assumed Current to Trough Home Price Change Rate	(2.00%)
Projected House Price Change Rate	2.00%
Maximum
Other than Temporary Impairment, Disclosure [Line Items]
Assumed Current to Trough Home Price Change Rate	8.00%
Projected House Price Change Rate	5.00%

Advances (Narrative) (Details)

Advances (Narrative) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)Institutions	Dec. 31, 2014USD ($)Institutions
Federal Home Loan Bank Advances
Total Par Value	$ 71,259,394	$ 63,125,956
Federal Home Loan Bank, Advances, Five Largest Borrowers Amount Outstanding	$ 52,500,000	$ 46,600,000
Number Of Top Advances Borrowers | Institutions	5	5
Federal Home Loan Bank, Advances, Five Largest Borrowers, Percent of Total	73.70%	73.80%
Federal Home Loan Bank, Advances, Borrowers With Outstanding Loan Balances Greater Than Ten Percent | Institutions	4	3
Minimum
Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Maturity Period, Fixed Rate	1 day
Interest rate of advances	0.05%
AHP subsidized loans, interest rate	2.00%
Maximum
Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances, Maturity Period, Fixed Rate	30 years
Federal Home Loan Bank, Advances, Maturity Period, Variable Rate	10 years
Interest rate of advances	7.40%
AHP subsidized loans, interest rate	5.50%
Federal Home Loan Bank, Advances, Convertible Option [Member]
Federal Home Loan Bank Advances
Total Par Value	$ 1,800,000	$ 1,900,000
Federal Home Loan Bank, Advances, Callable Option [Member]
Federal Home Loan Bank Advances
Total Par Value	$ 4,500,000

Advances (Portfolio by Year of

Advances (Portfolio by Year of Contractual Maturity) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Federal Home Loan Bank, Advances, Maturity, Rolling Year, Par Value [Abstract]
Due in 1 year or less	$ 30,291,091	$ 29,380,685
Due after 1 year through 2 years	13,807,326	7,754,473
Due after 2 years through 3 years	16,628,328	12,764,348
Due after 3 years through 4 years	6,733,157	9,361,638
Due after 4 years through 5 years	2,757,817	3,373,989
Thereafter	1,041,675	490,823
Total Par Value	71,259,394	63,125,956
Discount on AHP advances	(39)	(66)
Deferred prepayment fees	(6,581)	(8,600)
Hedging adjustments	236,378	291,065
Total book value	$ 71,489,152	$ 63,408,355
Federal Home Loan Bank, Advances, Weighted Average Interest Rate, Rolling Year [Abstract]
Due in 1 year or less	0.51%	0.42%
Due after 1 year through 2 years	0.89%	1.22%
Due after 2 years through 3 years	0.93%	1.14%
Due after 3 years through 4 years	0.90%	0.82%
Due after 4 years through 5 years	0.89%	0.84%
Thereafter	2.63%	2.77%
Total par value, Weighted Average Interest Rate	0.76%	0.76%

Advances (Advances by Year of C

Advances (Advances by Year of Contractual Maturity or Next Call Date or Next Convertible Date) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Advances [Abstract]
Due in 1 year or less	$ 32,541,091	$ 29,380,685
Due after 1 year through 2 years	12,957,326	7,754,473
Due after 2 years through 3 years	15,228,328	12,764,348
Due after 3 years through 4 years	6,733,157	9,361,638
Due after 4 years through 5 years	2,757,817	3,373,989
Thereafter	1,041,675	490,823
Due in 1 year or less	31,814,591	31,164,685
Due after 1 year through 2 years	12,852,326	6,846,973
Due after 2 years through 3 years	16,150,328	12,179,348
Due after 3 years through 4 years	6,668,157	9,095,638
Due after 4 years through 5 years	2,752,317	3,368,489
Thereafter	1,021,675	470,823
Total Par Value	$ 71,259,394	$ 63,125,956

Advances (Interest Rate Payment

Advances (Interest Rate Payment Terms) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Federal Home Loan Bank, Advances, Fixed Rate [Abstract]
Fixed rate – overnight	$ 2,118,227	$ 2,012,230
Due in 1 year or less	20,920,768	20,740,508
Thereafter	10,493,573	9,116,344
Total Fixed Rate	33,532,568	31,869,082
Federal Home Loan Bank, Advances, Floating Rate [Abstract]
Due in 1 year or less	7,252,096	6,627,947
Thereafter	30,474,730	24,628,927
Total Variable Rate	37,726,826	31,256,874
Total Par Value	$ 71,259,394	$ 63,125,956

Mortgage Loans Held for Portf58

Mortgage Loans Held for Portfolio (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Mortgage Loans on Real Estate [Line Items]
Par value of mortgage loans held for portfolio		$ 2,985,108	$ 3,058,463
Premiums		50,078	51,214
Discounts		(4,300)	(4,872)
Hedging adjustments		28,385	25,789
Total mortgage loans held for portfolio		3,059,271	3,130,594
Fixed-rate long-term single-family mortgages (1)
Mortgage Loans on Real Estate [Line Items]
Par value of mortgage loans held for portfolio	[1]	2,600,087	2,640,633
Fixed-rate medium-term single-family mortgages (1)
Mortgage Loans on Real Estate [Line Items]
Par value of mortgage loans held for portfolio	[1]	$ 385,021	$ 417,830
[1]	Note:(1) Long-term is defined as greater than 15 years. Medium-term is defined as a term of 15 years or less.

Mortgage Loans Held for Portf59

Mortgage Loans Held for Portfolio (Collateral or Guarantee Type) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Mortgage Loans on Real Estate [Line Items]
Par value of mortgage loans held for portfolio	$ 2,985,108	$ 3,058,463
Conventional Mortgage Loan [Member]
Mortgage Loans on Real Estate [Line Items]
Par value of mortgage loans held for portfolio	2,721,816	2,779,962
Government Mortgage Loans [Member]
Mortgage Loans on Real Estate [Line Items]
Par value of mortgage loans held for portfolio	$ 263,292	$ 278,501

Allowance for Credit Losses (Al

Allowance for Credit Losses (Allowance for Credit Losses) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance				$ 7,260
Provision for credit losses		$ 278	$ 411	(183)	$ (3,462)
Ending Balance		6,300		6,300
Total recorded investment	[1]	3,087,969		3,087,969		$ 3,160,390
Conventional MPF Loan [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		6,566	7,318	7,260	11,359
(Charge-offs) Recoveries, net	[2]	(311)	(302)	(413)	(302)
Provision for credit losses		45	527	(547)	(3,514)
Ending Balance		6,300	7,543	6,300	7,543
Ending balance, individually evaluated for impairment		5,206		5,206		6,034
Ending balance, collectively evaluated for impairment		1,094		1,094		1,226
Individually evaluated for impairment, with or without a related allowance		63,187		63,187		68,144
Collectively evaluated for impairment		2,738,757		2,738,757		2,789,826
Total recorded investment	[1]	2,801,944		2,801,944		2,857,970
Banking on Business Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		1,660	2,142	1,840	2,231
(Charge-offs) Recoveries, net	[2]	(167)	(155)	(451)	(355)
Provision for credit losses		265	(13)	369	98
Ending Balance		1,758	$ 1,974	1,758	$ 1,974
Ending balance, individually evaluated for impairment		44		44		0
Ending balance, collectively evaluated for impairment		1,714		1,714		1,840
Individually evaluated for impairment, with or without a related allowance		112		112		0
Collectively evaluated for impairment		12,752		12,752		13,518
Total recorded investment	[1]	$ 12,864		$ 12,864		$ 13,518
[1]	The recorded investment in a loan is the unpaid principal balance of the loan, adjusted for charge-offs of estimated losses, accrued interest, net deferred loan fees or costs, unamortized premiums or unaccreted discounts and adjustments for fair value hedges. The recorded investment is not net of any valuation allowance.
[2]	Net charge-offs that the Bank does not expect to recover through CE receivable.

Allowance for Credit Losses (Cr

Allowance for Credit Losses (Credit Quality Indicators) (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Total past due loans	[1]	$ 103,850	$ 137,005
Total current loans	[1]	2,984,119	3,023,385
Total recorded investment	[1]	3,087,969	3,160,390
Mortgage Loans in Process of Foreclosure, Amount	[2]	$ 28,455	$ 29,370
Serious delinquency rate (3)	[3]	1.20%	1.60%
Past due 90 days or more still accruing interest		$ 5,149	$ 7,024
Loans on nonaccrual status (4)	[4]	35,330	46,105
Conventional MPF Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Total past due loans	[1]	80,011	104,504
Total current loans	[1]	2,721,933	2,753,466
Total recorded investment	[1]	2,801,944	2,857,970
Mortgage Loans in Process of Foreclosure, Amount	[2]	$ 25,734	$ 26,981
Serious delinquency rate (3)	[3]	1.10%	1.50%
Past due 90 days or more still accruing interest		$ 0	$ 0
Loans on nonaccrual status (4)	[4]	35,158	45,900
Banking on Business Loans
Financing Receivable, Recorded Investment [Line Items]
Total past due loans	[1]	61	205
Total current loans	[1]	12,803	13,313
Total recorded investment	[1]	12,864	13,518
Mortgage Loans in Process of Foreclosure, Amount	[2]	$ 0	$ 0
Serious delinquency rate (3)	[3]	0.10%	0.10%
Past due 90 days or more still accruing interest		$ 0	$ 0
Loans on nonaccrual status (4)	[4]	172	205
Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment [Line Items]
Total past due loans	[1]	54,994	70,042
Financing Receivables, 30 to 59 Days Past Due [Member] | Conventional MPF Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Total past due loans	[1]	40,053	50,680
Financing Receivables, 30 to 59 Days Past Due [Member] | Banking on Business Loans
Financing Receivable, Recorded Investment [Line Items]
Total past due loans	[1]	49	124
Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment [Line Items]
Total past due loans	[1]	12,024	17,948
Financing Receivables, 60 to 89 Days Past Due [Member] | Conventional MPF Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Total past due loans	[1]	8,287	11,841
Financing Receivables, 60 to 89 Days Past Due [Member] | Banking on Business Loans
Financing Receivable, Recorded Investment [Line Items]
Total past due loans	[1]	0	73
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment [Line Items]
Total past due loans	[1]	36,832	49,015
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Conventional MPF Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Total past due loans	[1]	31,671	41,983
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Banking on Business Loans
Financing Receivable, Recorded Investment [Line Items]
Total past due loans	[1]	12	8
Loans Insured or Guaranteed by US Government Authorities [Member]
Financing Receivable, Recorded Investment [Line Items]
Total past due loans	[1]	23,778	32,296
Total current loans	[1]	249,383	256,606
Total recorded investment	[1]	273,161	288,902
Mortgage Loans in Process of Foreclosure, Amount	[2]	$ 2,721	$ 2,389
Serious delinquency rate (3)	[3]	1.90%	2.40%
Past due 90 days or more still accruing interest		$ 5,149	$ 7,024
Loans on nonaccrual status (4)	[4]	0	0
Loans Insured or Guaranteed by US Government Authorities [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment [Line Items]
Total past due loans	[1]	14,892	19,238
Loans Insured or Guaranteed by US Government Authorities [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment [Line Items]
Total past due loans	[1]	3,737	6,034
Loans Insured or Guaranteed by US Government Authorities [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment [Line Items]
Total past due loans	[1]	$ 5,149	$ 7,024
[1]	The recorded investment in a loan is the unpaid principal balance of the loan, adjusted for charge-offs of estimated losses, accrued interest, net deferred loan fees or costs, unamortized premiums or unaccreted discounts and adjustments for fair value hedges. The recorded investment is not net of any valuation allowance.
[2]	Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu has been reported. Loans in process of foreclosure are included in past due or current loans dependent on their delinquency status.
[3]	Loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the total loan portfolio class.
[4]	Generally represents mortgage loans with contractual principal or interest payments 90 days or more past due and not accruing interest.

Allowance for Credit Losses (In

Allowance for Credit Losses (Individually Evaluated Impaired Loans) (Details) - Conventional MPF Loan [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired Financing Receivable, Interest Income, Accrual Method	$ 457	$ 360	$ 880	$ 682
Recorded Investment
With no related allowance	35,084		35,084		$ 31,749
With a related allowance	28,103		28,103		36,395
Total recorded investment	63,187		63,187		68,144
Unpaid Principal Balance
With no related allowance	34,763		34,763		31,448
With a related allowance	27,871		27,871		36,175
Total Unpaid Principal Balance	62,634		62,634		67,623
Related Allowance for Credit Losses	$ 5,206		$ 5,206		$ 6,034

Allowance for Credit Losses (TD

Allowance for Credit Losses (TDR Modifications) (Details) - Conventional MPF Loan [Member] - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Average Recorded Investment	[1]	$ 64,133	$ 77,444	$ 64,028	$ 78,719
Interest Income Recognized		457	$ 360	880	$ 682
TDR		$ 15,900		$ 15,900		$ 16,800
[1]	Includes gross charge-offs.

Allowance for Credit Losses (Na

Allowance for Credit Losses (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Maximum Exposure Under First Loss Account	$ 22.6		$ 22.6		$ 23.1
Credit Enhancement Fees	0.8	$ 0.8	1.5	$ 1.6
REO	$ 5.3		$ 5.3		$ 6.9

Derivatives and Hedging Activ65

Derivatives and Hedging Activities (Derivatives in Statement of Condition) (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Total derivatives before netting and collateral adjustments: Notional Amount of Derivatives		$ 46,646,849	$ 44,852,966
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement		122,285	111,772
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement		384,524	467,685
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	[1],[2]	(58,133)	(75,555)
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	[1],[2]	(321,149)	(408,721)
Derivative assets		64,152	36,217
Derivative liabilities		63,375	58,964
Cash Collateral received		2,600	11,800
Cash Collateral posted		265,600	345,000
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Total derivatives before netting and collateral adjustments: Notional Amount of Derivatives		35,609,121	32,196,669
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement		94,745	84,205
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement		341,487	414,760
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total derivatives before netting and collateral adjustments: Notional Amount of Derivatives		11,037,728	12,656,297
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement		27,540	27,567
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement		43,037	52,925
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Total derivatives before netting and collateral adjustments: Notional Amount of Derivatives		10,264,391	11,937,989
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement		23,315	21,396
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement		43,037	52,925
Not Designated as Hedging Instrument [Member] | Interest Rate Swaption [Member]
Derivatives, Fair Value [Line Items]
Total derivatives before netting and collateral adjustments: Notional Amount of Derivatives		25,000	25,000
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement		109	1,312
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement		0	0
Not Designated as Hedging Instrument [Member] | Interest Rate Caps or Floors [Member]
Derivatives, Fair Value [Line Items]
Total derivatives before netting and collateral adjustments: Notional Amount of Derivatives		725,000	675,000
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement		3,639	4,425
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement		0	0
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Mortgages [Member]
Derivatives, Fair Value [Line Items]
Total derivatives before netting and collateral adjustments: Notional Amount of Derivatives		23,337	18,308
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement		477	434
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement		$ 0	$ 0
[1]	Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparties. Cash collateral posted was $265.6 million and $345.0 million at June 30, 2015 and December 31, 2014. Cash collateral received was $2.6 million and $11.8 million at June 30, 2015 and December 31, 2014.
[2]	Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions and also cash collateral held or placed by the Bank with the same clearing agent and/or counterparties.

Derivatives and Hedging Activ66

Derivatives and Hedging Activities (Derivatives in Statement of Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Net Fair Value Hedge Ineffectiveness	$ 2,812	$ 1,415	$ 3,397	$ 1,927
Net gains (losses) related to derivatives not designated as hedging instruments	26,321	(10,918)	18,164	(20,629)
Net gains (losses) on derivatives and hedging activities	29,133	(9,503)	21,561	(18,702)
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net Fair Value Hedge Ineffectiveness	2,812	1,415	3,397	1,927
Net gains (losses) related to derivatives not designated as hedging instruments	20,093	(18,764)	4,243	(34,537)
Interest Rate Swaption [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) related to derivatives not designated as hedging instruments	26	313	165	265
Interest Rate Caps or Floors [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) related to derivatives not designated as hedging instruments	(620)	(1,987)	(908)	(3,541)
Net Interest Settlements [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) related to derivatives not designated as hedging instruments	4,226	7,138	9,918	13,549
Intermediary Transactions Other Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) related to derivatives not designated as hedging instruments	5	5	12	12
Mortgages [Member] | Forward Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) related to derivatives not designated as hedging instruments	$ 2,591	$ 2,377	$ 4,734	$ 3,623

Derivatives and Hedging Activ67

Derivatives and Hedging Activities (Derivatives in Statement of Income and Impact on Interest) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(Losses) on Derivative		$ 53,260	$ 67,548	$ 86,102	$ 152,217
Gains/(Losses) on Hedged Item		(50,448)	(66,133)	(82,705)	(150,290)
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net		2,812	1,415	3,397	1,927
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income	[1]	9,525	(384)	20,714	(8,881)
amortization and accretion of hedged items		900	4,500	2,900	8,000
Advances [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(Losses) on Derivative		62,731	12,666	52,718	60,676
Gains/(Losses) on Hedged Item		(62,164)	(12,372)	(51,989)	(59,635)
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net		567	294	729	1,041
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income	[1]	(48,368)	(56,605)	(95,362)	(116,995)
Federal Home Loan Bank, Consolidated Obligations, Bonds [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(Losses) on Derivative		(38,730)	64,589	15,860	110,385
Gains/(Losses) on Hedged Item		38,775	(62,955)	(15,120)	(108,610)
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net		45	1,634	740	1,775
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income	[1]	62,223	59,112	123,838	113,549
Available-for-sale Securities
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(Losses) on Derivative		29,259	(9,707)	17,524	(18,844)
Gains/(Losses) on Hedged Item		(27,059)	9,194	(15,596)	17,955
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net		2,200	(513)	1,928	(889)
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income	[1]	$ (4,330)	$ (2,891)	$ (7,762)	$ (5,435)
[1]	Represents the net interest settlements on derivatives in fair value hedge relationships presented in the interest income/expense line item of the respective hedged item. These amounts do not include $0.9 million and $4.5 million for the second quarter 2015 and 2014, respectively, and $2.9 million and $8.0 million for the six months ended June 30, 2015 and 2014, respectively, of amortization/accretion of the basis adjustment related to discontinued fair value hedging relationships.

Derivatives and Hedging Activ68

Derivatives and Hedging Activities (Narrative) (Details) $ in Millions	Jun. 30, 2015USD ($)
Derivative [Line Items]
Derivative, Net Liability Position, Aggregate Fair Value	$ 159.6
Collateral Already Posted, Aggregate Fair Value	97.4
Additional Collateral, Aggregate Fair Value	$ 21.1

Derivatives and Hedging Activ69

Derivatives and Hedging Activities (Offsetting Assets) (Details) - USD ($)		Jun. 30, 2015	Dec. 31, 2014
Offsetting Assets [Line Items]
Derivative Asset, Fair Value, Gross Asset		$ 121,808,000	$ 111,338,000
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	[1],[2]	(58,133,000)	(75,555,000)
Derivative Asset, Net Fair Value Amount, After Offsetting Adjustment		63,675,000	35,783,000
Derivative Asset, Not Subject to Master Netting Arrangement	[3]	477,000	434,000
Derivative assets		64,152,000	36,217,000
Derivative, Collateral, Obligation to Return Securities that can be sold or repledged		0	(636,000)
Derivative Asset, Fair Value, Amount Offset Against Collateral		64,152,000	35,581,000
Over the Counter [Member]
Offsetting Assets [Line Items]
Derivative Asset, Fair Value, Gross Asset		67,039,000	102,570,000
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset		(65,288,000)	(96,286,000)
Derivative Asset, Net Fair Value Amount, After Offsetting Adjustment		1,751,000	6,284,000
Derivative Asset, Not Subject to Master Netting Arrangement	[3]	477,000	434,000
Derivative assets		2,228,000	6,718,000
Derivative, Collateral, Obligation to Return Securities that can be sold or repledged		0	(636,000)
Derivative Asset, Fair Value, Amount Offset Against Collateral		2,228,000	6,082,000
Exchange Cleared [Member]
Offsetting Assets [Line Items]
Derivative Asset, Fair Value, Gross Asset		54,769,000	8,768,000
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset		7,155,000	20,731,000
Derivative Asset, Net Fair Value Amount, After Offsetting Adjustment		61,924,000	29,499,000
Derivative Asset, Not Subject to Master Netting Arrangement	[3]	0	0
Derivative assets		61,924,000	29,499,000
Derivative, Collateral, Obligation to Return Securities that can be sold or repledged		0	0
Derivative Asset, Fair Value, Amount Offset Against Collateral		$ 61,924,000	$ 29,499,000
[1]	Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparties. Cash collateral posted was $265.6 million and $345.0 million at June 30, 2015 and December 31, 2014. Cash collateral received was $2.6 million and $11.8 million at June 30, 2015 and December 31, 2014.
[2]	Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions and also cash collateral held or placed by the Bank with the same clearing agent and/or counterparties.
[3]	Represents derivatives that are not subject to an enforceable netting agreement (e.g., mortgage delivery commitments and certain interest-rate futures or forwards).

Derivatives and Hedging Activ70

Derivatives and Hedging Activities (Offsetting Liabilities) (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Offsetting Liabilities [Line Items]
Derivative Liability, Fair Value, Gross Liability		$ 384,524	$ 467,685
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	[1],[2]	(321,149)	(408,721)
Derivative Laibility, Net Fair Value Amount, After Offsetting Adjustment		63,375	58,964
Derivative liabilities		63,375	58,964
Derivative Liability, Fair Value, Amount Offset Against Collateral		63,375	58,964
Over the Counter [Member]
Offsetting Liabilities [Line Items]
Derivative Liability, Fair Value, Gross Liability		223,521	283,979
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset		(160,146)	(225,015)
Derivative Laibility, Net Fair Value Amount, After Offsetting Adjustment		63,375	58,964
Derivative liabilities		63,375	58,964
Derivative Liability, Fair Value, Amount Offset Against Collateral		63,375	58,964
Exchange Cleared [Member]
Offsetting Liabilities [Line Items]
Derivative Liability, Fair Value, Gross Liability		161,003	183,706
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset		(161,003)	(183,706)
Derivative Laibility, Net Fair Value Amount, After Offsetting Adjustment		0	0
Derivative liabilities		$ 0	$ 0
[1]	Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparties. Cash collateral posted was $265.6 million and $345.0 million at June 30, 2015 and December 31, 2014. Cash collateral received was $2.6 million and $11.8 million at June 30, 2015 and December 31, 2014.
[2]	Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions and also cash collateral held or placed by the Bank with the same clearing agent and/or counterparties.

Consolidated Obligations (Inter

Consolidated Obligations (Interest Rate Payment Terms) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Short-term and Long-term Debt [Line Items]
Federal Home Loan Bank, Consolidated Obligations, Bonds	$ 47,552,947	$ 43,714,510
Consolidated Obligation Bonds
Schedule of Short-term and Long-term Debt [Line Items]
Par value of consolidated bonds	47,447,066	43,602,100
Bond premiums	131,412	147,824
Bond discounts	(9,707)	(12,111)
Hedging adjustments	(15,824)	(23,303)
Federal Home Loan Bank, Consolidated Obligations, Bonds	47,552,947	43,714,510
Consolidated Obligation Bonds | Fixed Interest Rate [Member]
Schedule of Short-term and Long-term Debt [Line Items]
Par value of consolidated bonds	37,472,066	36,296,100
Consolidated Obligation Bonds | Step Up [Member]
Schedule of Short-term and Long-term Debt [Line Items]
Par value of consolidated bonds	3,040,000	3,116,000
Consolidated Obligation Bonds | Floating Interest Rate [Member]
Schedule of Short-term and Long-term Debt [Line Items]
Par value of consolidated bonds	6,925,000	4,190,000
Consolidated Obligation Bonds | Fixed Rate that converts to variable [Member]
Schedule of Short-term and Long-term Debt [Line Items]
Par value of consolidated bonds	10,000	0
FHLBanks [Member]
Schedule of Short-term and Long-term Debt [Line Items]
Par value of consolidated bonds	$ 852,800,000	$ 847,200,000

Consolidated Obligations (Contr

Consolidated Obligations (Contractual Maturity Terms) (Details) - Consolidated Obligation Bonds - Long-term Debt By Maturity Type [Domain] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Short-term and Long-term Debt [Line Items]
Due in 1 year or less	$ 16,219,835	$ 15,033,450
Due in 1 year or less, Weighted Average Interest Rate	0.65%	1.00%
Due after 1 year through 2 years	$ 10,781,985	$ 9,316,860
Due after 1 year through 2 years, Weighted Average Interest Rate	1.20%	1.42%
Due after 2 years through 3 years	$ 8,813,735	$ 5,346,515
Due after 2 years through 3 years, Weighted Average Interest Rate	1.52%	1.64%
Due after 3 years through 4 years	$ 2,338,620	$ 4,709,300
Due after 3 years through 4 years, Weighted Average Interest Rate	1.53%	1.50%
Due after 4 years through 5 years	$ 3,998,720	$ 2,911,350
Due after 4 years through 5 years, Weighted Average Interest Rate	1.83%	1.72%
Thereafter	$ 5,110,150	$ 5,959,265
Thereafter, Weighted Average Interest Rate	2.42%	2.35%
Index amortizing notes	$ 184,021	$ 325,360
Index amortizing notes, Weighted Average Interest Rate	4.72%	4.14%
Par value of consolidated bonds	$ 47,447,066	$ 43,602,100
Par value of consolidated obligation bonds, Weighted Average Interest Rate	1.28%	1.48%

Consolidated Obligations (Conso

Consolidated Obligations (Consolidated Obligation Bonds Noncallable and Callable) (Details) - Consolidated Obligation Bonds - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Short-term and Long-term Debt [Line Items]
Par value of consolidated bonds	$ 47,447,066	$ 43,602,100
Non Callable [Member]
Schedule of Short-term and Long-term Debt [Line Items]
Par value of consolidated bonds	33,664,066	30,388,100
Callable [Member]
Schedule of Short-term and Long-term Debt [Line Items]
Par value of consolidated bonds	$ 13,783,000	$ 13,214,000

Consolidated Obligations (Con74

Consolidated Obligations (Consolidated Obligation Bonds by Earlier of Contractual Maturity or Next Call Date) (Details) - Consolidated Obligation Bonds - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Short-term and Long-term Debt [Line Items]
Due in 1 year or less	$ 16,219,835	$ 15,033,450
Due after 1 year through 2 years	10,781,985	9,316,860
Due after 2 years through 3 years	8,813,735	5,346,515
Due after 3 years through 4 years	2,338,620	4,709,300
Due after 4 years through 5 years	3,998,720	2,911,350
Thereafter	5,110,150	5,959,265
Index amortizing notes	184,021	325,360
Par value of consolidated bonds	47,447,066	43,602,100
Earlier of Contractual Maturity or Next Call Date [Member]
Schedule of Short-term and Long-term Debt [Line Items]
Due in 1 year or less	29,892,835	28,232,450
Due after 1 year through 2 years	9,394,985	8,114,860
Due after 2 years through 3 years	4,691,735	3,551,515
Due after 3 years through 4 years	1,259,620	1,390,300
Due after 4 years through 5 years	1,118,720	1,028,350
Thereafter	905,150	959,265
Index amortizing notes	$ 184,021	$ 325,360

Consolidated Obligations (Con75

Consolidated Obligations (Consolidated Obligation Discount Notes) (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Short-term Debt [Line Items]
Consolidated Obligations, Discount Notes		$ 41,061,124	$ 37,058,118
Discount Notes
Short-term Debt [Line Items]
Par value		$ 41,069,968	$ 37,065,745
Weighted average interest rate	[1]	0.11%	0.10%
[1]	Represents an implied rate.

Capital (Capital Requirements)

Capital (Capital Requirements) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Capital [Abstract]
Number of Finance Agency Regualtory Capital Requirements	3
Federal Home Loan Bank, Risk-Based Capital, Required	$ 809,763	$ 847,424
Federal Home Loan Bank, Risk-Based Capital, Actual	$ 4,280,552	$ 3,879,108
Regulatory Capital Ratio, Required	4.00%	4.00%
Federal Home Loan Bank, Regulatory Capital Ratio, Actual	4.60%	4.50%
Federal Home Loan Bank, Regulatory Capital, Required	$ 3,761,578	$ 3,427,083
Federal Home Loan Bank, Regulatory Capital, Actual	$ 4,280,552	$ 3,879,108
Leverage ratio - Required	5.00%	5.00%
Leverage ratio - Actual	6.80%	6.80%
Federal Home Loan Bank, Leverage Capital, Required	$ 4,701,973	$ 4,283,854
Federal Home Loan Bank, Leverage Capital, Actual	$ 6,420,828	$ 5,818,663

Capital (Capital Concentrations

Capital (Capital Concentrations) (Details) - USD ($) $ in Thousands		Jul. 31, 2015	Apr. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Capital [Line Items]
NumberOfSubclassesOfCapitalStock				2
Capital stock				$ 3,425,159	$ 3,040,976
Redemption Period				5 years
Capital Stock Ownership By Third Party
Capital [Line Items]
Concentration Risk Benchmark, Percent				10.00%
Capital Stock Ownership By Third Party | PNC Bank N.A.
Capital [Line Items]
Capital Stock Members	[1]			$ 964,805	$ 876,305
Concentration Risk Benchmark, Percent	[1]			28.20%	28.80%
Capital Stock Ownership By Third Party | Santander Bank N.A.
Capital [Line Items]
Capital Stock Members				$ 425,977	$ 424,955
Concentration Risk Benchmark, Percent				12.40%	14.00%
Capital Stock Ownership By Third Party | Chase Bank USA, N.A.
Capital [Line Items]
Capital Stock Members				$ 424,722	$ 362,050
Concentration Risk Benchmark, Percent				12.40%	11.90%
Subclass B1 [Member]
Capital [Line Items]
Dividends Per Share, Cash, Annualized Rate			3.00%
Capital stock				$ 329,600	$ 290,400
Subclass B2 [Member]
Capital [Line Items]
Dividends Per Share, Cash, Annualized Rate			5.00%
Capital stock				$ 3,096,000	$ 2,751,000
Dividend Paid [Member] | Subclass B1 [Member]
Capital [Line Items]
Dividends Per Share, Cash, Annualized Rate		3.00%
Dividend Paid [Member] | Subclass B2 [Member]
Capital [Line Items]
Dividends Per Share, Cash, Annualized Rate		5.00%
[1]	For Bank membership purposes, the principal place of business for PNC Bank, N.A. is Pittsburgh, PA.

Capital (Mandatorily Redeemable

Capital (Mandatorily Redeemable Capital Stock) (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)Institutions$ / shares	Jun. 30, 2014USD ($)	Dec. 31, 2014$ / shares
Capital [Abstract]
Balance, beginning of the period	$ 586	$ 40
Shares Reclassified to Mandatorily Redeemable Capital Stock Value	0	8,422
Net redemption/repurchase of mandatorily redeemable capital stock	(24)	(5,572)
Balance, end of the period	$ 562	$ 2,890
Financial Instruments Subject to Mandatory Redemption, Number of Institutions | Institutions	2
Capital stock, Par value Per Share | $ / shares	$ 100		$ 100

Capital (Mandatorily Redeemab79

Capital (Mandatorily Redeemable Capital Stock by Contractual Year of Redemption) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Capital [Abstract]
Due in 1 year or less	$ 0	$ 0
Due after 1 year through 2 years	0	0
Due after 2 years through 3 years	0	0
Due after 3 years through 4 years	562	0
Due after 4 years through 5 years	0	586
Total	$ 562	$ 586	$ 2,890	$ 40

Capital (Dividends and Retained

Capital (Dividends and Retained Earnings) (Details) - USD ($) $ in Thousands	Jul. 31, 2015	Apr. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Capital [Line Items]
Capital stock			$ 3,425,159	$ 3,040,976
Joint Capital Enhancement Agreement Percentage			20.00%
Percent of Average Balance of Outstanding Consolidated Obligations Required per the Joint Capital Enhancement Agreement For Each Previous Quarter			1.00%
Retained Earnings (Accumulated Deficit)			$ 854,830	837,547
Unrestricted			713,242	726,309
Restricted			141,588	111,238
Subclass B1 [Member]
Capital [Line Items]
Capital stock			329,600	290,400
Dividends, Per Share, Cash, Annualized Rate		3.00%
Subclass B1 [Member] | Dividend Paid [Member]
Capital [Line Items]
Dividends, Per Share, Cash, Annualized Rate	3.00%
Subclass B2 [Member]
Capital [Line Items]
Capital stock			$ 3,096,000	$ 2,751,000
Dividends, Per Share, Cash, Annualized Rate		5.00%
Subclass B2 [Member] | Dividend Paid [Member]
Capital [Line Items]
Dividends, Per Share, Cash, Annualized Rate	5.00%

Capital (Accumulated Other Comp

Capital (Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized gains (losses)	$ (24,755)	$ 30,696		$ (2,267)	$ 55,224
Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Loss, before Tax, Portion Attributable to Parent	1,026	0		1,026	0
Net change in fair value of OTTI securities	(11,236)	17,550		(9,175)	18,993
Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Loss, before Tax, Portion Attributable to Parent, Held-to-maturity Securities	1,026	0		1,026	0
Reclassification of net losses (gains) included in net income relating to hedging activities	(4)	(1)		(12)	(1)
Pension and post-retirement	82	40		164	79
Net Unrealized Gains(Losses) | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCI income (loss), Beginning of period	264	287	$ 287	272	287
Reclassification of net losses (gains) included in net income relating to hedging activities	(4)	(1)		(12)	(1)
Total AOCI income (loss), End of period	260	286	287	260	286
Pension and Post Retirement Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCI income (loss), Beginning of period	(2,668)	(1,069)	(1,108)	(2,750)	(1,108)
Pension and post-retirement	82	40		164	79
Total AOCI income (loss), End of period	(2,586)	(1,029)	(1,069)	(2,586)	(1,029)
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCI income (loss), Beginning of period	149,056	70,350	44,340	124,433	44,340
Unrealized gains (losses)	(34,127)	47,292		(10,284)	71,245
Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Loss, before Tax, Portion Attributable to Parent	0			0
Net change in fair value of OTTI securities	(1,864)	954		(1,158)	2,972
Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Loss, before Tax, Portion Attributable to Parent, Held-to-maturity Securities	(1,026)			(1,026)
Reclassification of net losses (gains) included in net income relating to hedging activities	(4)	(1)		(12)	(1)
Pension and post-retirement	82	40		164	79
Total AOCI income (loss), End of period	112,117	118,635	70,350	112,117	118,635
Held-to-maturity Securities | Noncredit OTTI Gains(Losses)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCI income (loss), Beginning of period	0	0	0	0	0
Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Loss, Net of Tax, Portion Attributable to Parent, Held-to-maturity Securities	1,026			1,026
Total AOCI income (loss), End of period	0	0	0	0	0
Available-for-sale Securities | Net Unrealized Gains(Losses)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCI income (loss), Beginning of period	54,948	(7,953)	(32,481)	32,460	(32,481)
Unrealized gains (losses)	(24,755)	30,696		(2,267)	55,224
Total AOCI income (loss), End of period	30,193	22,743	(7,953)	30,193	22,743
Available-for-sale Securities | Noncredit OTTI Gains(Losses)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCI income (loss), Beginning of period	96,512	79,085	77,642	94,451	77,642
Net unrealized gains (losses)	(9,372)	16,596		(8,017)	16,021
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, Net of Tax	(1,026)			(1,026)
Net change in fair value of OTTI securities	(1,864)	954		(1,158)	2,972
Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Loss, before Tax, Portion Attributable to Parent, Held-to-maturity Securities	(1,026)			(1,026)
Total AOCI income (loss), End of period	$ 84,250	$ 96,635	$ 79,085	$ 84,250	$ 96,635

Transactions with Related Par82

Transactions with Related Parties (By Balance Sheet Grouping) (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Investments		$ 11,097,777	$ 11,936,639
Advances		71,489,152	63,408,355
MPF loans		2,985,108	3,058,463
Capital stock		3,425,159	3,040,976
Principal Owner [Member]
Related Party Transaction [Line Items]
Investments		148,335	157,025
Advances		42,812,880	38,765,267
Letters of credit	[1]	9,283,970	9,608,983
MPF loans		1,184,879	1,326,807
Deposits		10,292	13,678
Capital stock		$ 1,885,879	$ 1,714,432
[1]	Letters of credit are off-balance sheet commitments.

Transactions with Related Par83

Transactions with Related Parties (Statement of Income Effects) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Related Party Transaction [Line Items]
Interest income on advances (1)		$ 81,632	$ 62,021	$ 155,373	$ 121,994
Interest Income on MPF		29,719	32,866	60,475	66,230
Letter of credit fees		708	1,256	1,274	1,705
Prepayment Fees on Advances, Net		248	1,810	1,316	4,901
Net gains (losses) on derivatives and hedging activities		29,133	(9,503)	21,561	(18,702)
Principal Owner [Member]
Related Party Transaction [Line Items]
Interest income on advances (1)	[1]	44,843	33,778	83,896	66,581
Interest Income on MPF		16,646	21,124	34,269	42,430
Prepayment Fees on Advances, Net		0	0	0	3,090
Contractual Interest Income, Federal Home Loan Bank Advances		78,600	79,100	151,400	162,700
Net gains (losses) on derivatives and hedging activities		(33,600)	(44,800)	(67,000)	(93,500)
Amortization of basis adjustments		(200)	(500)	(600)	(2,600)
Standby Letters of Credit | Principal Owner [Member]
Related Party Transaction [Line Items]
Letter of credit fees		$ 3,819	$ 1,971	$ 6,847	$ 3,853
[1]	For the three and six months ended June 30, 2015, balances include contractual interest income of $78.6 million and $151.4 million, net interest settlements on derivatives in fair value hedge relationships of $(33.6) million and $(67.0) million and total amortization of basis adjustments of $(0.2) million and $(0.6) million. For the three and six months ended June 30, 2014, balances include contractual interest income of $79.1 million and $162.7 million, net interest settlements on derivatives in fair value hedge relationships of $(44.8) million and $(93.5) million and total amortization of basis adjustments of $(0.5) million and $(2.6) million.

Transactions with Related Par84

Transactions with Related Parties (Transactions with Other FHLBanks) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Related Party Transaction [Line Items]
Total MPF Loan Volume Purchased			$ 192,739	$ 142,003
Principal Owner [Member]
Related Party Transaction [Line Items]
Total MPF Loan Volume Purchased	$ 5,438	$ 432	6,845	1,321
FHLBank of Chicago [Member]
Related Party Transaction [Line Items]
Servicing fee expense	284	$ 242	552	$ 479
Interest-bearing deposits maintained with FHLBank of Chicago	$ 6,485		$ 6,485		$ 6,782

Estimated Fair Values (Carrying

Estimated Fair Values (Carrying Value and Fair Value of Financial Instruments) (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities		$ 369,976	$ 281,016
AFS securities		7,858,609	8,408,835
Held-to-maturity Securities		2,869,192	3,246,788
Held to maturity securities - fair value		2,906,101	3,286,547
Derivative assets		64,152	36,217
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	[1],[2]	(58,133)	(75,555)
Mandatorily redeemable capital stock		562	586	$ 2,890	$ 40
Derivative liabilities		63,375	58,964
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	[1],[2]	(321,149)	(408,721)
Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks		5,377,254	2,451,131
Interest-bearing deposits		0	0
Federal funds sold		0	0
Trading securities		5,239	4,721
AFS securities		1,998	1,998
Held to maturity securities - fair value		0	0
Advances		0	0
Accrued interest receivable		0	0
Derivative assets		0	0
Deposits		0	0
Mandatorily redeemable capital stock	[3]	569	705
Accrued interest payable		0	0
Derivative liabilities		0	0
Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks		0	0
Interest-bearing deposits		6,485	6,782
Federal funds sold		2,809,992	4,584,981
Trading securities		364,737	276,295
AFS securities		6,938,215	7,424,055
Held to maturity securities - fair value		2,319,426	2,600,638
Advances		71,516,603	63,471,078
Accrued interest receivable		93,983	86,109
Derivative assets		122,285	111,772
Deposits		670,364	641,183
Mandatorily redeemable capital stock			0
Accrued interest payable	[3]	103,754	103,032
Derivative liabilities		384,524	467,685
Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks		0	0
Interest-bearing deposits		0	0
Federal funds sold		0	0
Trading securities		0	0
AFS securities		918,396	982,782
Held to maturity securities - fair value		586,675	685,909
Advances		0	0
Accrued interest receivable		0	0
Derivative assets		0	0
Deposits		0
Mandatorily redeemable capital stock		0	0
Accrued interest payable		0	0
Derivative liabilities		0	0
Estimate of Fair Value, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks		5,377,254	2,451,131
Interest-bearing deposits		6,485	6,782
Federal funds sold		2,809,992	4,584,981
Trading securities		369,976	281,016
AFS securities		7,858,609	8,408,835
Held to maturity securities - fair value		2,906,101	3,286,547
Advances		71,516,603	63,471,078
Accrued interest receivable		93,983	86,109
Derivative assets		64,152	36,217
Deposits		670,364	641,183
Mandatorily redeemable capital stock	[3]	569	705
Accrued interest payable	[3]	103,754	103,032
Derivative liabilities		63,375	58,964
Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks		5,377,254	2,451,131
Interest-bearing deposits		6,485	6,782
Federal funds sold		2,810,000	4,585,000
Trading securities		369,976	281,016
AFS securities		7,858,609	8,408,835
Held-to-maturity Securities		2,869,192	3,246,788
Advances		71,489,152	63,408,355
Accrued interest receivable		93,983	86,109
Derivative assets		64,152	36,217
Deposits		670,358	641,180
Mandatorily redeemable capital stock	[3]	562	586
Accrued interest payable	[3]	103,761	103,151
Derivative liabilities		63,375	58,964
Mortgage loans held for portfolio, net | Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
MPF & BOB Loans , Net of Allowance		0	0
Mortgage loans held for portfolio, net | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
MPF & BOB Loans , Net of Allowance		3,215,254	3,312,186
Mortgage loans held for portfolio, net | Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
MPF & BOB Loans , Net of Allowance		0	0
Mortgage loans held for portfolio, net | Estimate of Fair Value, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
MPF & BOB Loans , Net of Allowance		3,215,254	3,312,186
Mortgage loans held for portfolio, net | Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
MPF & BOB Loans , Net of Allowance		3,052,971	3,123,334
Banking on Business Loans | Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
MPF & BOB Loans , Net of Allowance		0	0
Banking on Business Loans | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
MPF & BOB Loans , Net of Allowance		0	0
Banking on Business Loans | Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
MPF & BOB Loans , Net of Allowance		11,022	11,567
Banking on Business Loans | Estimate of Fair Value, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
MPF & BOB Loans , Net of Allowance		11,022	11,567
Banking on Business Loans | Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
MPF & BOB Loans , Net of Allowance		11,022	11,567
Federal Home Loan Bank, Consolidated Obligations, Discount Notes [Member] | Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discount notes		0	0
Federal Home Loan Bank, Consolidated Obligations, Discount Notes [Member] | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discount notes		41,063,548	37,059,347
Federal Home Loan Bank, Consolidated Obligations, Discount Notes [Member] | Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discount notes		0	0
Federal Home Loan Bank, Consolidated Obligations, Discount Notes [Member] | Estimate of Fair Value, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discount notes		41,063,548	37,059,347
Federal Home Loan Bank, Consolidated Obligations, Discount Notes [Member] | Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discount notes		41,061,124	37,058,118
Consolidated Obligation Bonds | Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Bonds		0	0
Consolidated Obligation Bonds | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Bonds		47,712,440	43,881,951
Consolidated Obligation Bonds | Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Bonds		0	0
Consolidated Obligation Bonds | Estimate of Fair Value, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Bonds		47,712,440	43,881,951
Consolidated Obligation Bonds | Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Bonds		$ 47,552,947	$ 43,714,510
[1]	Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparties. Cash collateral posted was $265.6 million and $345.0 million at June 30, 2015 and December 31, 2014. Cash collateral received was $2.6 million and $11.8 million at June 30, 2015 and December 31, 2014.
[2]	Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions and also cash collateral held or placed by the Bank with the same clearing agent and/or counterparties.
[3]	The estimated fair value amount for the mandatorily redeemable capital stock line item includes accrued dividend interest; this amount is excluded from the estimated fair value for the accrued interest payable line item.

Estimated Fair Values (Valuatio

Estimated Fair Values (Valuation Techniques) (Details)	Jun. 30, 2015vendor
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair Value Measurements, Valuation Techniques, Number of Third Party Vendor Prices Received	4

Estimated Fair Values (Fair Val

Estimated Fair Values (Fair Value Measured on Recurring and Nonrecurring Basis) (Details) - USD ($)		Jun. 30, 2015		Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		$ 369,976,000		$ 281,016,000
AFS securities		7,858,609,000		8,408,835,000
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	[1],[2]	(321,149,000)		(408,721,000)
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	[1],[2]	(58,133,000)		(75,555,000)
Derivative assets		64,152,000		36,217,000
Total Derivative liabilities		63,375,000		58,964,000
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		5,239,000		4,721,000
AFS securities		1,998,000		1,998,000
Derivative assets		0		0
Total Derivative liabilities		0		0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		364,737,000		276,295,000
AFS securities		6,938,215,000		7,424,055,000
Derivative assets		122,285,000		111,772,000
Total Derivative liabilities		384,524,000		467,685,000
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0		0
AFS securities		918,396,000		982,782,000
Derivative assets		0		0
Total Derivative liabilities		0		0
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	[2],[3]	(321,149,000)		(408,721,000)
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	[2]	(58,133,000)		(75,555,000)
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		5,239,000		4,721,000
AFS securities		1,998,000		1,998,000
Derivative assets		0		0
Total assets at fair value		7,237,000		6,719,000
Total Derivative liabilities		0		0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		364,737,000		276,295,000
AFS securities		6,938,215,000		7,424,055,000
Derivative assets		122,285,000		111,772,000
Total assets at fair value		7,425,237,000		7,812,122,000
Total Derivative liabilities	[3]	384,524,000		467,685,000
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0		0
AFS securities		918,396,000		982,782,000
Derivative assets		0		0
Total assets at fair value		918,396,000		982,782,000
Total Derivative liabilities		0	[3]	0
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value		32,665,000
Mortgage loans held for portfolio	[4]	27,970,000
Real estate owned fair value disclosure	[4]	4,695,000
Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	[2]	(321,149,000)		(408,721,000)
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	[2]	(58,133,000)		(75,555,000)
Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0
Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		121,808,000		111,338,000
Total Derivative liabilities		384,524,000		467,685,000
Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0
GSE and TVA obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		364,737,000		276,295,000
AFS securities		3,027,847,000		3,233,703,000
GSE and TVA obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0
AFS securities		0		0
GSE and TVA obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		364,737,000		276,295,000
AFS securities		3,027,847,000		3,233,703,000
GSE and TVA obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0		0
AFS securities		0		0
Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		5,239,000		4,721,000
AFS securities		1,998,000		1,998,000
Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		5,239,000		4,721,000
AFS securities		1,998,000		1,998,000
Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0		0
AFS securities		0		0
Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0		0
AFS securities		0		0
State or local agency obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		90,085,000		98,984,000
State or local agency obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		0		0
State or local agency obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		90,085,000		98,984,000
State or local agency obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		0		0
Other U.S. obligations single-family MBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		298,725,000		329,379,000
Other U.S. obligations single-family MBS | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		0		0
Other U.S. obligations single-family MBS | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		298,725,000		329,379,000
Other U.S. obligations single-family MBS | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		0		0
Private label MBS [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		918,396,000		982,782,000
HELOCs [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		0		0
HELOCs [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		0		0
HELOCs [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		10,471,000		11,699,000
Mortgages [Member] | Forward Contracts [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	[2]	0		0
Mortgages [Member] | Forward Contracts [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0
Mortgages [Member] | Forward Contracts [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		477,000		434,000
Mortgages [Member] | Forward Contracts [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0
Residential Mortgage Backed Securities [Member] | Private label MBS [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		907,925,000		971,083,000
Residential Mortgage Backed Securities [Member] | Private label MBS [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		0		0
Residential Mortgage Backed Securities [Member] | Private label MBS [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		0		0
Residential Mortgage Backed Securities [Member] | Private label MBS [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		907,925,000		971,083,000
Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		369,976,000		281,016,000
AFS securities		7,858,609,000		8,408,835,000
Derivative assets		64,152,000		36,217,000
Total Derivative liabilities		63,375,000		58,964,000
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		369,976,000		281,016,000
AFS securities		7,858,609,000		8,408,835,000
Derivative assets		64,152,000		36,217,000
Total assets at fair value		8,292,737,000		8,726,068,000
Total Derivative liabilities	[3]	63,375,000		58,964,000
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value		32,665,000
Mortgage loans held for portfolio	[4]	27,970,000
Real estate owned fair value disclosure	[4]	4,695,000
Estimate of Fair Value Measurement [Member] | Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		63,675,000		35,783,000
Total Derivative liabilities		63,375,000		58,964,000
Estimate of Fair Value Measurement [Member] | GSE and TVA obligations [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		364,737,000		276,295,000
AFS securities		3,027,847,000		3,233,703,000
Estimate of Fair Value Measurement [Member] | Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		5,239,000		4,721,000
AFS securities		1,998,000		1,998,000
Estimate of Fair Value Measurement [Member] | State or local agency obligations [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		90,085,000		98,984,000
Estimate of Fair Value Measurement [Member] | Other U.S. obligations single-family MBS | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		298,725,000		329,379,000
Estimate of Fair Value Measurement [Member] | HELOCs [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		10,471,000		11,699,000
Estimate of Fair Value Measurement [Member] | Mortgages [Member] | Forward Contracts [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		477,000		434,000
Estimate of Fair Value Measurement [Member] | Residential Mortgage Backed Securities [Member] | Private label MBS [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		907,925,000		971,083,000
Multifamily [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		854,224,000		879,827,000
Multifamily [Member] | Estimate of Fair Value Measurement [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		854,224,000		879,827,000
Single Family [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		0
Single Family [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		2,667,334,000		2,882,162,000
Single Family [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		0		0
Single Family [Member] | Estimate of Fair Value Measurement [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS securities		$ 2,667,334,000		$ 2,882,162,000
[1]	Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparties. Cash collateral posted was $265.6 million and $345.0 million at June 30, 2015 and December 31, 2014. Cash collateral received was $2.6 million and $11.8 million at June 30, 2015 and December 31, 2014.
[2]	Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions and also cash collateral held or placed by the Bank with the same clearing agent and/or counterparties.
[3]	Derivative liabilities represent the total liabilities at fair value.
[4]	These amounts were immaterial for the year ended December 31, 2014. The estimated fair values of impaired mortgage loans held for portfolio and real estate owned are determined based on values provided by a third party's retail-based AVM. The Bank adjusts the AVM value downward based on the amount it has historically received on liquidation.

Estimated Fair Values (Level 3

Estimated Fair Values (Level 3 Reconciliation) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2012
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Net change in fair value on OTTI AFS in OCI	$ (11,236)	$ 17,550		$ (9,175)	$ 18,993
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 | Available-for-Sale Securities, Private Label Residential Mortgage Backed Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at January 1			$ 1,123,624	971,083	1,123,624
Accretion of credit losses in interest income				9,512	6,087
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)				42	(60)
Net change in fair value on OTTI AFS in OCI				(1,157)	2,932
Unrealized gains on OTTI AFS in OCI				(7,555)	15,967
Purchases, issuances, sales, and settlements:
Settlements				(67,368)	(90,601)
Balance at June 30	907,925	1,057,949		907,925	1,057,949
Total amount of losses for the period presented included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held				9,512	6,087
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3				3,368
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 | Available-for-Sale Securities, Home Equity Lines Of Credit [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at January 1			14,428	11,699	14,428
Accretion of credit losses in interest income				734	663
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)				0		$ 0
Net change in fair value on OTTI AFS in OCI			$ 40	(1)
Unrealized gains on OTTI AFS in OCI				(462)	54
Purchases, issuances, sales, and settlements:
Settlements				(1,499)	(1,869)
Balance at June 30	$ 10,471	$ 13,316		10,471	13,316
Total amount of losses for the period presented included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held				$ 734	$ 663

Commitments and Contingencies89

Commitments and Contingencies (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2015		Dec. 31, 2014
Loss Contingencies [Line Items]
Other Liabilities - Standby Letter of Credit Fees		$ 127,561		$ 41,614
Maximum Commitment Period		45 days
Standby Letters of Credit Issuance Commitments [Member]
Loss Contingencies [Line Items]
Off-balance Sheet Risks, Total Liability		$ 204,000		146,800
Open RepoPlus Advance Product
Loss Contingencies [Line Items]
Open Repo Plus Product Outstanding		7,400,000		7,400,000
Standby Letters of Credit
Loss Contingencies [Line Items]
Off-balance Sheet Risks, Expiring Within One Year	[1],[2]	20,487,833
Off-balance Sheet Risks, Expiring After One Year		0
Off-balance Sheet Risks, Total Liability		20,487,833	[2]	19,942,125
Off-balance Sheet Risks, with annual renewal option		5,800,000
Other Liabilities - Standby Letter of Credit Fees		4,000		4,800
Commitments to fund additional advances and BOB loans
Loss Contingencies [Line Items]
Off-balance Sheet Risks, Expiring Within One Year		123,621
Off-balance Sheet Risks, Expiring After One Year		75,000
Off-balance Sheet Risks, Total Liability		198,621		21,124
Unsettled consolidated obligation bonds, at par (3)
Loss Contingencies [Line Items]
Off-balance Sheet Risks, Expiring Within One Year	[3]	535,450
Off-balance Sheet Risks, Expiring After One Year		0
Off-balance Sheet Risks, Total Liability		535,450	[3]	95,530
Unsettled consolidated obligation bonds, at par (3) | Interest Rate Swap [Member]
Loss Contingencies [Line Items]
Off-balance Sheet Risks, Total Liability		487,000		83,100
Unsettled consolidated obligation discount notes, at par
Loss Contingencies [Line Items]
Off-balance Sheet Risks, Expiring Within One Year		320,000
Off-balance Sheet Risks, Expiring After One Year		0
Off-balance Sheet Risks, Total Liability		320,000		500,000
Mortgages [Member] | Commitments to fund or purchase mortgage loans
Loss Contingencies [Line Items]
Off-balance Sheet Risks, Expiring Within One Year		23,337
Off-balance Sheet Risks, Expiring After One Year		0
Off-balance Sheet Risks, Total Liability		$ 23,337		$ 18,308
Maximum
Loss Contingencies [Line Items]
Letter of Credit Renewal Period		5 years
[1]	$5.8 billion of these letters of credit have annual renewal language that, as long as both parties agree, permit the letter of credit to be renewed for an additional year with a maximum renewal period of 5 years.
[2]	Excludes approved requests to issue future standby letters of credit of $204.0 million and $146.8 million at June 30, 2015 and December 31, 2014, respectively.
[3]	Includes $487.0 million and $83.1 million of consolidated obligation bonds which were hedged with associated interest rate swaps at June 30, 2015 and December 31, 2014, respectively.

Uncategorized Items - fhlbpgh-2

Label	Element	Value
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net	us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet	$ 0
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net	us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet	483
Net Income (Loss) Attributable to Parent, Net of Federal Home Loan Bank Assessments	us-gaap_NetIncomeLossAttributableToParentNetOfFederalHomeLoanBankAssessments	44,623
Net Income (Loss) Attributable to Parent, Net of Federal Home Loan Bank Assessments	us-gaap_NetIncomeLossAttributableToParentNetOfFederalHomeLoanBankAssessments	$ 80,632