Federal Home Loan Bank of Chicago 10-Q9 May 192019 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2019shares
Document and Entity Information [Abstract]
Entity Registrant Name	Federal Home Loan Bank of Chicago
Entity Central Index Key	0001331451
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding	19,752,342
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes

Statements of Condition

Statements of Condition - USD ($) shares in Millions, $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Assets
Cash and due from banks	$ 25	$ 28
Interest bearing deposits	425	775
Federal Funds sold	11,220	7,704
Securities purchased under agreements to resell	2,400	2,900
Investment debt securities -
Trading,	3,985	3,478
pledged	339	269
Available-for-sale	14,879	14,614
Held-to-maturity,	2,485	3,213
Fair Value	2,753	3,492
Investment debt securities	21,349	21,305
Advances,	50,776	52,628
carried at fair value	1,631	1,025
MPF Loans held in portfolio, net of	7,578	7,103
allowance for credit losses	(1)	(1)
Derivative assets	19	6
Other assets,	330	408
carried at fair value	36	108
Assets	94,122	92,857
Deposits -
Noninterest bearing	66	54
Interest bearing,	495	497
from other FHLBs	16	29
Deposits	561	551
Consolidated obligations, net -
Discount notes,	39,639	43,166
carried at fair value	998	992
Bonds,	47,047	42,250
carried at fair value	3,347	2,352
Consolidated obligations, net	86,686	85,416
Derivative liabilities	16	16
Affordable Housing Program assessment payable	84	84
Mandatorily redeemable capital stock	315	313
Other liabilities	1,131	1,188
Liabilities	88,793	87,568
Commitments and contingencies - see notes to the financial statements
Capital
Class B1 activity stock,	$ 1,366	$ 1,476
million shares issued and outstanding	14	15
Class B2 membership stock,	$ 294	$ 222
million shares issued and outstanding	3	2
Capital stock - putable,	$ 1,660	$ 1,698
par value per share	$ 100	$ 100
Retained earnings - unrestricted	$ 3,080	$ 3,023
Retained earnings - restricted	528	513
Retained earnings	3,608	3,536
Accumulated other comprehensive income (loss) (AOCI)	61	55
Capital	5,329	5,289
Liabilities and capital	$ 94,122	$ 92,857

Statements of Income

Statements of Income - USD ($) $ in Millions	3 Months Ended
Statements of Income - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Interest income	$ 686	$ 480
Interest expense	568	356
Net interest income	118	124
Noninterest income -
Trading securities		0
Derivatives and hedging activities	(2)	(3)
Instruments held under fair value option	2	(7)
MPF fees,	8	8
from other FHLBs	7	6
Other, net	2	2
Noninterest income	18	0
Noninterest expense -
Compensation and benefits	28	24
Operating expenses	20	15
Other	2	3
Noninterest expense	50	42
Income before assessments	86	82
Affordable Housing Program	9	8
Net income	$ 77	$ 74

Statements of Comprehensive Inc

Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
Statements of Comprehensive Income - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 77	$ 74
Other comprehensive income (loss) -
Net unrealized gain (loss) available-for-sale debt securities	(2)	(49)
Noncredit OTTI held-to-maturity debt securities	6	7
Net unrealized gain (loss) cash flow hedges	(2)	58
Postretirement plans	4	(2)
Other comprehensive income (loss)	6	14
Comprehensive income	$ 83	$ 88

Statements of Stockholders' Equ

Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Capital Stock - Putable - B1 Activity	Capital Stock - Putable - B2 Membership	Total Capital Stock	Retained Earnings, Unrestricted	Retained Earnings, Restricted	Retained Earnings, Total	AOCI
Shares, beginning at Dec. 31, 2017		12	2	14
Balance, beginning at Dec. 31, 2017	$ 4,852	$ 1,241	$ 202	$ 1,443	$ 2,845	$ 452	$ 3,297	$ 112
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	88				59	15	74	14
Proceeds from issuance of capital stock shares		9	0	9
Proceeds from issuance of capital stock	823	$ 822	$ 1	$ 823
Repurchases of capital stock shares		0	(7)	(7)
Repurchases of capital stock	(687)	$ (1)	$ (686)	$ (687)
Transfers between classes of capital stock shares		(7)	7
Transfers between classes of capital stock		$ (694)	$ 694
Cash dividends - class B1	(12)				(12)		(12)
Cash dividends - class B2	(1)				(1)		(1)
Common Stock Dividend - Annualized Rate		3.50%	1.50%
Total change in period shares		2	0	2
Total change in period	211	$ 127	$ 9	$ 136	46	15	61	14
Shares, ending at Mar. 31, 2018		14	2	16
Balance, ending at Mar. 31, 2018	5,063	$ 1,368	$ 211	$ 1,579	2,891	467	3,358	126
Shares, beginning at Dec. 31, 2018		15	2	17
Balance, beginning at Dec. 31, 2018	5,289	$ 1,476	$ 222	$ 1,698	3,023	513	3,536	55
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect adjustment - see Note 2	16				16	0	16
Comprehensive income	83				62	15	77	6
Proceeds from issuance of capital stock shares		6	0	6
Proceeds from issuance of capital stock	612	$ 612	$ 0	$ 612
Repurchases of capital stock shares		0	(6)	(6)
Repurchases of capital stock	(649)	$ 0	$ (649)	$ (649)
Capital stock reclassified to mandatorily redeemable capital stock liability shares		0	0	0
Capital stock reclassed to mandatorily redeemable capital stock liability	(1)	$ 0	$ (1)	$ (1)
Transfers between classes of capital stock shares		(7)	7
Transfers between classes of capital stock		$ (722)	$ 722
Cash dividends - class B1	(20)				(20)		(20)
Cash dividends - class B2	(1)				(1)		(1)
Common Stock Dividend - Annualized Rate		5.00%	2.00%
Total change in period shares		(1)	1	0
Total change in period	40	$ (110)	$ 72	$ (38)	57	15	72	6
Shares, ending at Mar. 31, 2019		14	3	17
Balance, ending at Mar. 31, 2019	$ 5,329	$ 1,366	$ 294	$ 1,660	$ 3,080	$ 528	$ 3,608	$ 61

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($) $ in Millions		3 Months Ended
Condensed Statements of Cash Flows - USD ($) $ in Millions		Mar. 31, 2019	Mar. 31, 2018
Operating
Net cash provided by (used in) operating activities		$ 10	$ 135
Investing
Net change interest bearing deposits		350	0
Net change Federal Funds sold		(3,516)	(1,800)
Net change securities purchased under agreements to resell		500	(1,250)
Trading debt securities -
Sales		0	200
Proceeds from maturities and paydowns		1,500	2
Purchases		(1,993)	(2,559)
Available-for-sale debt securities -
Proceeds from maturities and paydowns		1,400	478
Purchases		(1,560)	0
Held-to-maturity debt securities - a
Proceeds from maturities and paydowns	[1]	1,190	1,274
Purchases	[1]	(450)	(565)
Advances -
Principal collected		369,296	320,511
Issued		(367,318)	(323,358)
MPF Loans held in portfolio -
Principal collected		168	187
Purchases		(645)	(355)
Other investing activities		3	3
Net cash provided by (used in) investing activities		(1,075)	(7,232)
Financing
Net change deposits, incl.		10	161
from other FHLBs		(13)	(20)
Discount notes -
Net proceeds from issuance		430,677	436,144
Payments for maturing and retiring		(434,225)	(435,852)
Consolidated obligation bonds -
Net proceeds from issuance		12,297	11,586
Payments for maturing and retiring		(7,640)	(5,062)
Capital stock -
Proceeds from issuance		612	823
Repurchases		(649)	(687)
Cash dividends paid		(21)	(13)
Other financing activities		1	(5)
Net cash provided by (used in) financing activities		1,062	7,095
Net increase (decrease) in cash and due from banks		(3)	(2)
Cash and due from banks at beginning of period		28	42
Cash and due from banks at end of period		$ 25	$ 40

[1]	Presentation of cash flow amounts in prior periods have been reclassified to reflect short-term held-to-maturity purchases and proceeds on a gross, rather than net, basis. Certain reclassifications made to prior periods to properly present gross cash flows were not material.

Background and Basis of Present

Background and Basis of Presentation	3 Months Ended
Background and Basis of Presentation	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Background and Basis of Presentation The Federal Home Loan Bank of Chicago is a federally chartered corporation and one of 11 Federal Home Loan Banks (the FHLBs) that, with the Office of Finance, comprise the Federal Home Loan Bank System (the System). The FHLBs are government-sponsored enterprises (GSE) of the United States of America and were organized under the Federal Home Loan Bank Act of 1932, as amended (FHLB Act), in order to improve the availability of funds to support home ownership. We are supervised and regulated by the Federal Housing Finance Agency (FHFA), an independent federal agency in the executive branch of the United States (U.S.) government. Each FHLB is a member-owned cooperative with members from a specifically defined geographic district. Our defined geographic district is Illinois and Wisconsin. All federally-insured depository institutions, insurance companies engaged in residential housing finance, credit unions and community development financial institutions located in our district are eligible to apply for membership with us. All our members are required to purchase our capital stock as a condition of membership. Our capital stock is not publicly traded, and is issued, repurchased or redeemed at par value, $100 per share, subject to certain statutory and regulatory limits. As a cooperative, we do business with our members, and former members (under limited circumstances). Specifically, we provide credit principally in the form of secured loans called advances. We also provide liquidity for home mortgage loans to members approved as Participating Financial Institutions (PFIs) through the Mortgage Partnership Finance ® (MPF ® ) Program. Our accounting and financial reporting policies conform to generally accepted accounting principles in the United States of America (GAAP). Amounts in prior periods may be reclassified to conform to the current presentation and, if material, are detailed in the following notes. 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 and the following footnotes should be read in conjunction with the audited financial statements and footnotes for the year ended December 31, 2018 , included in our Annual Report on Form 10-K ( 2018 Form 10-K) starting on page F-1, as filed with the Securities and Exchange Commission (SEC). Unless otherwise specified, references to we, us, our, and the Bank are to the Federal Home Loan Bank of Chicago. “Mortgage Partnership Finance”, “MPF”, “MPF Xtra”, and "Community First" are registered trademarks of the Federal Home Loan Bank of Chicago. See the Glossary of Terms starting on page 56 for the definitions of certain terms used herein. Use of Estimates and Assumptions We are required to make estimates and assumptions when preparing our financial statements in accordance with GAAP. The most significant of these estimates and assumptions applies to fair value measurements and allowance for credit losses. Our actual results may differ from the results reported in our financial statements due to such estimates and assumptions. This includes the reported amounts of assets and liabilities, the reported amounts of income and expense, and the disclosure of contingent assets and liabilities. Basis of Presentation The basis of presentation pertaining to the consolidation of our variable interest entities has not changed since we filed our 2018 Form 10-K. The basis of presentation pertaining to our gross versus net presentation of derivative financial instruments also has not changed since we filed our 2018 Form 10-K. Refer to Note 1- Background and Basis of Presentation

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2019
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Summary of Significant Accounting Policies Our Summary of Significant Accounting Policies through December 31, 2018 , can be found in Note 2 – Summary of Significant Accounting Policies to the financial statements in our 2018 Form 10-K. We adopted the following policies effective January 1, 2019 : The Inclusion of the Overnight Index Swap (OIS) Rate based on the Secured Overnight Financing Rate (SOFR) as a Benchmark Interest Rate for Hedge Accounting Purposes (FASB ASU 2018-16) In October of 2018, the FASB issued an amendment that adds the OIS rate based on the SOFR as a U.S. benchmark interest rate for hedge accounting purposes, in light of the plan for a phase out of the oversight of LIBOR. The SOFR OIS rate is the fixed rate on a U.S. dollar, constant-notional interest rate swap that has its variable-rate leg referenced to SOFR (an overnight rate) with no additional spread over SOFR on that variable-rate leg. That fixed rate is the derived rate that would result in the swap having a zero fair value at inception because the present value of fixed cash flows, based on that rate, equates to the present value of the variable cash flows. Including the OIS rate based on SOFR as an eligible benchmark interest rate during the early stages of the marketplace transition should facilitate the LIBOR to SOFR transition and provide sufficient lead time for us to prepare for changes to interest rate risk hedging strategies for both risk management and hedge accounting purposes. We adopted this amendment on a prospective basis for qualifying new hedging relationships entered on or after January 1, 2019. Th e new guidance did not have an effect on our financial condition, results of operations, and cash flows at the time of adoption but we continue to evaluate potential future impacts. Targeted Improvements to Accounting for Hedging Activities (ASU 2017-12) In August of 2017, the FASB issued targeted improvements to existing derivatives and hedging guidance. Upon adoption, we modified the risk of certain fair value hedges from contractual coupon interest rate to benchmark rate component improving hedge effectiveness. The opening cumulative adjustment related to modifying the risk being hedged was an increase to retained earnings of $16 million and a corresponding increase to the cumulative basis adjustment (carrying value) of the hedged items. The opening adjustment to retained earnings related to ineffectiveness recognized in prior reporting periods attributable to open cash flow hedges was not material. Prior reporting periods were not restated. Significant changes to existing GAAP guidance were as follows: Hedging Strategies Newly Permitted: • Permits entering into a cash flow hedge of the variability in cash flows in a financial instrument that has a contractually specified interest rate. • Permits hedging the benchmark risk component of cash flows in a fair value hedge. • Permits entering into a partial-term fair value hedge of the hedged item. • Permits entering into last-of-layer fair value hedges. Assessment of Hedge Effectiveness: • Permits qualitatively assessing hedge effectiveness. • Enabled applying the long-haul method of assessing hedge effectiveness in cases where the shortcut method was initially applied but subsequently is not or is no longer is appropriate. Financial Statement Presentation: • Required the entire change in fair value of the hedging instrument in a cash flow hedge to be recorded and deferred in AOCI until reclassification to our statements of income would be required. • Required hedge ineffectiveness to be presented in either interest income or interest expense, whichever is appropriate, rather than into noninterest income on derivatives and hedging activities in our statements of income. This means that changes in fair value on AFS debt securities in a fair value hedging relationship are immediately recognized into interest income in our statement of income. • The above presentation guidance was prospectively adopted. Prior to January 1, 2019, hedge ineffectiveness was classified in noninterest income on derivatives and hedging activities in our statements of income. Leases (ASU 2016-02) In February of 2016, the FASB issued lease accounting guidance that became effective January 1, 2019. Upon adoption, we applied the guidance to the beginning of January 1, 2019, using the modified retrospective approach. Prior financial statements were not restated. There was no cumulative effect adjustment to the opening balance of retained earnings as of January 1, 2019. The guidance required us to recognize and measure our operating leases as right-of-use assets, with terms that exceed 12 months, in our statements of condition - that amount, which was $11 million

Recently Issued but Not Yet Ado

Recently Issued but Not Yet Adopted Accounting Standards	3 Months Ended
Recently Issued but Not Yet Adopted Accounting Standards	Mar. 31, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recently Issued but Not Yet Adopted Accounting Standards [Text Block]	Recently Issued but Not Yet Adopted Accounting Standards Measurement of Credit Losses on Financial Instruments (ASU 2016-13) In June of 2016, the FASB amended existing GAAP guidance applicable to measuring credit losses on financial instruments. This guidance takes effect January 1, 2020. We are in the process of reviewing the expected effect of this guidance on our financial condition, results of operations, and cash flows. Specifically, the amendment replaces the “incurred loss” impairment methodology applied under current GAAP with a “currently expected credit losses” or CECL methodology. The measurement of CECL is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the financial instrument’s reported amount. Upon adoption, any difference between our existing and CECL allowance for credit losses will be recognized as a cumulative-effect adjustment to the opening balance of our retained earnings as of January 1, 2020. We do not expect this to have a material effect on our financial condition, results of operations, and cash flows. In addition, the accounting for securities is amended as follows: • Aligns the income statement recognition of credit losses for securities with the reporting period in which changes in collectability occur by recording credit losses (and subsequent reversals) through an allowance rather than a write-down as currently required under GAAP. • Requires recognition of a credit loss on available-for-sale (AFS) securities into the income statement if the present value of cash flows expected to be collected on the security is less than its amortized cost basis. Additionally, the allowance on AFS debt securities will be limited to the amount by which fair value is less than the amortized cost basis. A prospective transition approach is required for AFS debt securities. Accordingly, any OTTI write-downs on AFS debt securities recognized prior to January 1, 2020 may not be reversed at the time of our adoption. Improvements in expected cash flows for these securities will continue to be accounted for as yield adjustments over their remaining life. Additionally, recoveries for these securities will be recorded in earnings only when received. We do not expect any material impact related to this guidance on our financial condition, results of operations, and cash flows. Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement (ASU 2018-15)

Interest Income and Interest Ex

Interest Income and Interest Expense	3 Months Ended
Interest Income and Interest Expense	Mar. 31, 2019
Interest Income (Expense), Net [Abstract]
Interest Income and Interest Expense Disclosure [Text Block]	Interest Income and Interest Expense The following table presents interest income and interest expense for the periods indicated: Three months ended March 31, 2019 2018 Interest income - Trading $ 17 $ 6 Available-for-sale interest income 124 104 Available-for-sale prepayment fees 1 7 Available-for-sale 125 111 Held-to-maturity 38 46 Investment debt securities 180 163 Advances 358 214 MPF Loans held in portfolio 76 55 Federal funds sold and securities purchased under agreements to resell 67 44 Other 5 4 Interest income 686 480 Interest expense - Consolidated obligations - Discount notes 281 183 Bonds 279 169 Other 8 4 Interest expense 568 356 Net interest income $ 118 $ 124

Investment Debt Securities

Investment Debt Securities	3 Months Ended
Investment Debt Securities	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	Investment Debt Securities We classify debt securities as either trading, held-to-maturity (HTM), or available-for-sale (AFS). Our security disclosures within these classifications are disaggregated by major security types as shown below. Our major security types are based on the nature and risks of the security: • U.S. Government & other government related - may consist of the sovereign debt of the United States; debt issued by government sponsored enterprises (GSE); debt issued by the Tennessee Valley Authority; and securities guaranteed by the Small Business Administration. • Federal Family Education Loan Program - asset-backed securities (FFELP ABS). • GSE residential mortgage-backed securities (MBS) - issued by Fannie Mae and Freddie Mac. • Government guaranteed residential MBS. • Private label residential MBS. • State or local housing agency obligations. Pledged Collateral We disclose the amount of investment securities pledged as collateral pertaining to our derivatives activity on our statements of condition. See Note 9 - Derivatives and Hedging Activities for further details. Trading Debt Securities The following table presents the fair value of our trading debt securities. As of March 31, 2019 December 31, 2018 U.S. Government & other government related $ 3,967 $ 3,460 Residential MBS GSE 17 17 Government guaranteed 1 1 Trading debt securities $ 3,985 $ 3,478 The following table presents our gains and losses on trading debt securities recorded in Noninterest Income Other. Three months ended March 31, 2019 2018 Net unrealized gains (losses) on securities held at period end $ (3 ) $ — Net realized gains (losses) on securities sold/matured during the period 11 — Net gains (losses) on trading debt securities $ 8 $ — Amortized Cost Basis and Fair Value – Available-for-Sale Debt Securities (AFS) Amortized Cost Basis Gross Unrealized Gains in AOCI Gross Unrealized (Losses) in AOCI Carrying Amount and Fair Value As of March 31, 2019 U.S. Government & other government related $ 641 $ 20 $ (2 ) $ 659 State or local housing agency 15 — — 15 FFELP ABS 3,486 183 — 3,669 Residential MBS GSE 9,922 22 (34 ) 9,910 Government guaranteed 574 12 — 586 Private label 32 8 — 40 Available-for-sale debt securities $ 14,670 $ 245 $ (36 ) $ 14,879 As of December 31, 2018 U.S. Government & other government related $ 528 $ 15 $ — $ 543 State or local housing agency 17 — — 17 FFELP ABS 3,578 203 — 3,781 Residential MBS GSE 9,602 20 (48 ) 9,574 Government guaranteed 645 13 — 658 Private label 33 8 — 41 Available-for-sale debt securities $ 14,403 $ 259 $ (48 ) $ 14,614 We had no sales of AFS securities for the periods presented. Amortized Cost Basis, Carrying Amount, and Fair Value - Held-to-Maturity Debt Securities (HTM) Amortized Cost Basis Non-credit OTTI Recognized in AOCI (Loss) Carrying Amount Gross Unrecognized Holding Gains Gross Unrecognized Holding (Losses) Fair Value As of March 31, 2019 U.S. Government & other government related $ 707 $ — $ 707 $ 11 $ — $ 718 State or local housing agency 6 — 6 — — 6 Residential MBS GSE 1,085 — 1,085 33 — 1,118 Government guaranteed 314 — 314 2 — 316 Private label 481 (108 ) 373 222 — 595 Held-to-maturity debt securities $ 2,593 $ (108 ) $ 2,485 $ 268 $ — $ 2,753 As of December 31, 2018 U.S. Government & other government related $ 1,305 $ — $ 1,305 $ 18 $ (1 ) $ 1,322 State or local housing agency 6 — 6 — — 6 Residential MBS GSE 1,141 — 1,141 30 — 1,171 Government guaranteed 369 — 369 2 — 371 Private label 506 (114 ) 392 230 — 622 Held-to-maturity debt securities $ 3,327 $ (114 ) $ 3,213 $ 280 $ (1 ) $ 3,492 We had no sales of HTM securities for the periods presented. Contractual Maturity Terms The maturity of our AFS and HTM investments is detailed in the following table. Available-for-Sale Held-to-Maturity As of March 31, 2019 Carrying Amount and Fair Value Carrying Amount Fair Value Year of Maturity - Due in one year or less $ — $ 90 $ 90 Due after one year through five years 3 77 78 Due after five years through ten years 241 83 84 Due after ten years 430 463 472 ABS and MBS without a single maturity date 14,205 1,772 2,029 Total debt securities $ 14,879 $ 2,485 $ 2,753 Aging of Unrealized Temporary Losses The following table presents unrealized temporary losses on our AFS and HTM portfolio for periods less than 12 months and for 12 months or more. We recognized no OTTI charges on these unrealized loss positions. Refer to the Other-Than-Temporary Impairment Analysis section below for further discussion. In the tables below, in cases where the gross unrealized losses for an investment category are less than $1 million, the losses are not reported. Less than 12 Months 12 Months or More Total Fair Value Gross Unrealized (Losses) Fair Value Gross Unrealized (Losses) Fair Value Gross Unrealized (Losses) Available-for-sale debt securities As of March 31, 2019 U.S. Government & other government related $ 27 $ — $ 3 $ (2 ) $ 30 $ (2 ) State or local housing agency — — 3 — 3 — FFELP ABS 563 — — — 563 — Residential MBS GSE 5,562 (34 ) — — 5,562 (34 ) Government guaranteed 4 — — — 4 — Private label — — 5 — 5 — Available-for-sale debt securities $ 6,156 $ (34 ) $ 11 $ (2 ) $ 6,167 $ (36 ) As of December 31, 2018 U.S. Government & other government related $ — $ — $ 3 $ — $ 3 $ — State or local housing agency 1 — 3 — 4 — Residential MBS GSE 5,573 (46 ) 48 (2 ) 5,621 (48 ) Government guaranteed 31 — — — 31 — Private label — — 5 — 5 — Available-for-sale debt securities $ 5,605 $ (46 ) $ 59 $ (2 ) $ 5,664 $ (48 ) Held-to-maturity debt securities As of March 31, 2019 U.S. Government & other government related $ 4 $ — $ 15 $ — $ 19 $ — Residential MBS Government-guaranteed 110 — 61 — 171 — Private label — — 567 (108 ) 567 (108 ) Held-to-maturity debt securities $ 114 $ — $ 643 $ (108 ) $ 757 $ (108 ) As of December 31, 2018 U.S. Government & other government related $ 459 $ — $ 23 $ (1 ) $ 482 $ (1 ) State or local housing agency — — 2 — 2 — Residential MBS Government guaranteed 170 — — — 170 — Private label — — 592 (114 ) 592 (114 ) Held-to-maturity debt securities $ 629 $ — $ 617 $ (115 ) $ 1,246 $ (115 ) Other-Than-Temporary Impairment Analysis We recognized no OTTI charges on HTM or AFS debt securities for the periods presented. This is because we do not intend to sell these securities. We believe it is more likely than not that we will not be required to sell them prior to recovering their amortized cost basis, and we expect to recover the entire amortized cost basis. We had a base case short-term housing price forecast for all markets with projected changes ranging from -6.0% to +14.0% over the twelve month period beginning at the start of the quarter ending March 31, 2019 . For the vast majority of markets, the short-term forecast has changes ranging from +2.0% to +6.0% . The following table presents the changes in the cumulative amount of previously recorded OTTI credit losses on investment debt securities recognized into earnings for the reporting periods indicated. Three months ended March 31, 2019 2018 Beginning Balance $ 442 $ 477 Reductions: Increases in cash flows expected to be collected and recognized into interest income (7 ) (9 ) Ending Balance $ 435 $ 468

Advances

Advances	3 Months Ended
Advances	Mar. 31, 2019
Federal Home Loan Banks [Abstract]
Federal Home Loan Bank, Advances [Text Block]	Advances We offer a wide range of fixed- and variable-rate advance products with different maturities, interest rates, payment characteristics and optionality. The following table presents our advances by terms of contractual maturity and the related weighted average contractual interest rate. For amortizing advances, contractual maturity is determined based on the advance’s amortization schedule. Actual maturities may differ from contractual maturities because some borrowers have the right to call or prepay advances with or without penalties. As of March 31, 2019 Amount Weighted Average Contractual Interest Rate Due in one year or less $ 19,127 2.48 % One to two years 3,112 2.27 % Two to three years 2,352 2.56 % Three to four years 4,233 2.65 % Four to five years 9,074 2.65 % More than five years 12,730 2.53 % Par value $ 50,628 2.52 % We have no allowance for credit losses on our advances. See Note 8 - Allowance for Credit Losses to the financial statements for further information related to our credit risk on advances. The following table reconciles the par value of our advances to the carrying amount on our statements of condition as of the dates indicated. As of March 31, 2019 December 31, 2018 Par value $ 50,628 $ 52,606 Fair value hedging adjustments 145 30 Other adjustments 3 (8 ) Advances $ 50,776 $ 52,628 The following advance borrowers exceeded 10% of our advances outstanding: As of March 31, 2019 Par Value % of Total Outstanding One Mortgage Partners Corp. $ 11,000 a 21.7 % The Northern Trust Company 7,700 15.2 % a

MPF Loans Held in Portfolio (No

MPF Loans Held in Portfolio (Notes)	3 Months Ended
MPF Loans Held in Portfolio (Notes)	Mar. 31, 2019
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	MPF Loans Held in Portfolio We acquire MPF Loans from PFIs to hold in our portfolio and historically purchased participations in pools of eligible mortgage loans from other FHLBs (MPF Banks). MPF Loans that are held in portfolio are fixed-rate conventional and Government Loans secured by one-to-four family residential properties with maturities ranging from 5 years to 30 years or participations in pools of similar eligible mortgage loans from other MPF Banks. The following table presents information on MPF Loans held in portfolio by contractual maturity at the time of purchase. As of March 31, 2019 December 31, 2018 Medium term (15 years or less) $ 348 $ 334 Long term (greater than 15 years) 7,109 6,662 Unpaid principal balance 7,457 6,996 Net premiums, credit enhancement, and/or deferred loan fees 114 100 Fair value and economic hedging adjustments 8 8 MPF Loans held in portfolio, before allowance for credit losses 7,579 7,104 Allowance for credit losses on MPF Loans (1 ) (1 ) MPF Loans held in portfolio, net $ 7,578 $ 7,103 Conventional mortgage loans $ 6,537 $ 6,062 Government Loans 920 934 Unpaid principal balance $ 7,457 $ 6,996 The above table excludes MPF Loans acquired under the MPF Xtra, MPF Direct, and MPF Government MBS products. See Note 2 - Summary of Significant Accounting Policies in our 2018 Form 10-K for information related to the accounting treatment of these off balance sheet MPF Loan products. See Note 8 - Allowance for Credit Losses

Allowance for Credit Losses

Allowance for Credit Losses	3 Months Ended
Allowance for Credit Losses	Mar. 31, 2019
Receivables [Abstract]
Allowance for Credit Losses [Text Block]	Allowance for Credit Losses See Note 2 - Summary of Significant Accounting Policies to the financial statements in our 2018 Form 10-K for further details regarding our allowance for credit losses methodology for each of the following portfolio segments: • Member credit products (advances, letters of credit and other extensions of credit to borrowers); • Conventional MPF Loans held in portfolio; • Government Loans held in portfolio; and • Federal Funds Sold and Securities Purchased Under Agreements to Resell. We only have recorded an allowance for credit losses on conventional MPF Loans held in portfolio as further discussed below. For further detail of our MPF Risk Sharing Structure see page F-15 in our 2018 Form 10-K. There has been no material activity in our allowance for credit losses since December 31, 2018 . The following table presents the recorded investment and the allowance for credit losses in conventional MPF Loans by impairment methodology. As of March 31, 2019 December 31, 2018 Conventional mortgage loans - Individually evaluated for impairment $ 31 $ 33 Collectively evaluated for impairment 6,652 6,155 Recorded investment $ 6,683 $ 6,188 Allowance for credit losses - Collectively evaluated for impairment $ 1 $ 1 The following table summarizes our recorded investment in MPF Loans by our key credit quality indicators, which include: • "Serious delinquency rate" consists of MPF Loans that are 90 days or more past due or in the process of foreclosure, as a percentage of the total recorded investment. MPF Loans that are both 90 days or more past due and in the process of foreclosure are only included once in our serious delinquency rate calculation. • "Past due 90 days or more still accruing interest" consists of MPF Loans that are either insured or guaranteed by the government or conventional mortgage loans that are well secured (by collateral that have a realizable value sufficient to discharge the debt or by the guarantee or insurance, such as primary mortgage insurance, of a financially responsible party) and in the process of collection. • Conventional MPF Loans are individually evaluated for impairment when they are adversely classified. There is no allowance for credit losses attributable to conventional MPF Loans that are individually evaluated for impairment, since the related allowance for credit losses has been charged off. We do not recognize interest income on impaired conventional MPF Loans. March 31, 2019 December 31, 2018 As of Conventional Government Total Conventional Government Total Past due 30-59 days $ 70 $ 38 $ 108 $ 59 $ 42 $ 101 Past due 60-89 days 17 12 29 17 14 31 Past due 90 days or more 30 17 47 31 19 50 Past due 117 67 184 107 75 182 Current 6,566 872 7,438 6,081 879 6,960 Recorded investment $ 6,683 $ 939 $ 7,622 $ 6,188 $ 954 $ 7,142 In process of foreclosure $ 11 $ 5 $ 16 $ 13 $ 6 $ 19 Serious delinquency rate 0.46 % 1.85 % 0.63 % 0.51 % 1.95 % 0.70 % Past due 90 days or more and still accruing interest $ 5 $ 17 $ 22 $ 5 $ 19 $ 24 Impaired loans without an allowance for credit losses and on nonaccrual status 31 31 33 33 Unpaid principal balance of impaired loans without an allowance for credit losses 33 33 36 36

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
Derivatives and Hedging Activities	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities [Text Block]	Derivatives and Hedging Activities Refer to Note 2 - Summary of Significant Accounting Policies in our 2018 Form 10-K for our accounting policies for derivatives. We transact most of our derivatives with large banks and major broker-dealers. Some of these banks and broker-dealers or their affiliates buy, sell, and distribute consolidated obligations. We are not a derivatives dealer and do not trade derivatives for speculative purposes. We enter into derivative transactions through either of the following: • A bilateral agreement with an individual counterparty for over-the-counter derivative transactions. • Clearinghouses classified as Derivatives Clearing Organizations (DCOs) through Futures Commission Merchants (FCMs), which are clearing members of the DCOs, for cleared derivative transactions. Managing Interest Rate Risk We use fair value hedges to offset changes in the fair value of a benchmark interest rate, for example the London Interbank Offering Rate (LIBOR), related to (1) a recognized asset or liability or (2) an unrecognized firm commitment. Our hedge strategy for cash flow hedges is to hedge the total proceeds received from rolling forecasted zero-coupon discount note issuances attributable to changes in the benchmark interest rate or LIBOR by entering into interest rate swaps to mitigate such risk. We use economic hedges in cases where hedge accounting treatment is not permitted or achievable; for example, hedges of portfolio interest rate risk or financial instruments carried at fair value under the fair value option. Managing Credit Risk on Derivative Agreements Over-the-counter (bilateral) Derivative Transactions : We are subject to credit risk due to the risk of nonperformance by counterparties to our derivative agreements. For bilateral derivative agreements, the degree of counterparty risk depends on the extent to which master netting arrangements, collateral requirements and other credit enhancements are included in such contracts to mitigate the risk. We manage counterparty credit risk through credit analysis, collateral requirements and adherence to the requirements set forth in our policies and FHFA regulations. We require collateral agreements on all over-the-counter derivatives. Additionally, collateral related to over-the-counter derivatives with member institutions includes collateral assigned to us, as evidenced by a written security agreement, and which may be held by the member institution for our benefit. Based on credit analyses and collateral requirements, we do not anticipate any credit losses on our over-the-counter derivative agreements. See Note 16 - Fair Value in our 2018 Form 10-K for discussion regarding our fair value methodology for over-the-counter derivative assets and liabilities, including an evaluation of the potential for the fair value of these instruments to be affected by counterparty credit risk. For nearly all of our bilateral derivative transactions executed prior to March 1, 2017, and for all transactions entered into after March 1, 2017, our bilateral derivative agreements are fully collateralized with a zero unsecured threshold in accordance with variation margin requirements issued by the U.S. federal bank regulatory agencies and the Commodity Futures Trading Commission (CFTC). For certain transactions executed prior to March 1, 2017, we may be required to post net additional collateral with our counterparties if there is deterioration in our credit rating. If our credit rating had been lowered from its current rating to the next lower rating by a major credit rating agency, such as Standard and Poor's or Moody’s, the amount of collateral we would have been required to deliver would no t have been material at March 31, 2019 . Cleared Derivative Transactions : Cleared derivative transactions are subject to variation and initial margin requirements established by the DCO and its clearing members. As a result of rule changes adopted by our DCOs, variation margin payments are characterized as settlement of a derivative’s mark-to-market exposure and not as collateral against the derivative’s mark-to-market exposure. See Note 1 - Background and Basis of Presentation and Note 2 - Summary of Significant Accounting Policies to the financial statements our 2018 Form 10-K for further discussion. We post our initial margin collateral payments and make variation margin settlement payments through our FCMs, on behalf of the DCO, which could expose us to institutional credit risk in the event that the FCMs or the DCO fail to meet their obligations. Clearing derivatives through a DCO mitigates counterparty credit risk exposure because the DCO is substituted for individual counterparties and variation margin settlement payments are made daily through the FCMs for changes in the value of cleared derivatives. The DCO determines initial margin requirements for cleared derivatives. In this regard, we pledged $339 million of investment securities that can be sold or repledged, as part of our initial margin related to cleared derivative transactions at March 31, 2019 . Additionally, an FCM may require additional initial margin to be posted based on credit considerations, including but not limited to, if our credit rating downgrades. We had no requirement to post additional initial margin by our FCMs at March 31, 2019 . The following table presents details on the notional amounts, and derivative assets and liabilities on our statements of condition. The netting adjustment amount includes cash collateral (either received or paid by us) and related accrued interest in cases where we have a legal right, by contract (e.g., master netting agreement) or otherwise, to offset cash flow obligations between us and our counterparty into a single net payable or receivable. March 31, 2019 December 31, 2018 As of Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities Derivatives in hedge accounting relationships- Interest rate contracts $ 35,781 $ 53 $ 224 $ 35,549 $ 39 $ 261 Derivatives not in hedge accounting relationships- Interest rate contracts 23,496 152 77 19,803 100 59 Other 601 2 1 619 1 1 Derivatives not in hedge accounting relationships 24,097 154 78 20,422 101 60 Gross derivative amount before netting adjustments and cash collateral $ 59,878 207 302 $ 55,971 140 321 Netting adjustments and cash collateral (188 ) (286 ) (134 ) (305 ) Derivatives on statements of condition $ 19 $ 16 $ 6 $ 16 Cash Collateral Cash Collateral Cash collateral posted and related accrued interest $ 148 $ 203 Cash collateral received and related accrued interest 50 32 The following table presents the Noninterest income - Derivatives and hedging activities as presented in the Statements of Income. For fair value and cash flow hedging relationships, the portion of net gains (losses) representing hedge ineffectiveness are recorded in Noninterest income for periods prior to January 1, 2019. Three months ended March 31, For the periods ending 2019 2018 Fair value hedges - interest rate contracts $ 2 Cash flow hedges - interest rate contracts 1 Economic hedges - Interest rate contracts $ (5 ) (7 ) Other 2 1 Economic hedges (3 ) (6 ) Variation margin on daily settled cleared derivatives 1 — Noninterest income - Derivatives and hedging activities $ (2 ) $ (3 ) The following table presents details regarding the offsetting of our derivative assets and liabilities on our statements of condition. The netting adjustment amount includes cash collateral (either received or paid by us) and related accrued interest in cases where we have a legal right, by contract (e.g., master netting agreement) or otherwise, to offset cash flow obligations between us and our counterparty into a single net payable or receivable. Derivative Assets Derivative Liabilities Bilateral Cleared Total Bilateral Cleared Total As of March 31, 2019 Derivatives with legal right of offset - Gross recognized amount $ 135 $ 70 $ 205 $ 236 $ 65 $ 301 Netting adjustments and cash collateral (130 ) (58 ) (188 ) (228 ) (58 ) (286 ) Derivatives with legal right of offset - net 5 12 17 8 7 15 Derivatives without legal right of offset 2 — 2 1 — 1 Derivatives on statements of condition 7 12 19 9 7 16 Less: Noncash collateral received or pledged and cannot be sold or repledged — — — — 7 7 Net amount $ 7 $ 12 $ 19 $ 9 $ — $ 9 As of December 31, 2018 Derivatives with legal right of offset - Gross recognized amount $ 107 $ 32 $ 139 $ 279 $ 41 $ 320 Netting adjustments and cash collateral (102 ) (32 ) (134 ) (273 ) (32 ) (305 ) Derivatives with legal right of offset - net 5 — 5 6 9 15 Derivatives without legal right of offset 1 — 1 1 — 1 Derivatives on statements of condition 6 — 6 7 9 16 Less: Noncash collateral received or pledged and cannot be sold or repledged — — — — 9 9 Net amount $ 6 $ — $ 6 $ 7 $ — $ 7 At March 31, 2019 , we had $332 million of additional credit exposure on cleared derivatives due to pledging of noncash collateral to our DCOs for initial margin, which exceeded our derivative position. We had $260 million of comparable exposure at December 31, 2018 . Fair Value Hedges The following table presents our fair value hedging results by the type of hedged item. We had no gain (loss) for hedges that no longer qualified as a fair value hedge. Additionally, the table indicates where fair value hedging results are classified in our statements of income. In this regard, the Amount Recorded in Net Interest Income column includes the following: • The amortization of closed fair value hedging adjustments, which are included in the interest income/expense line item of the respective hedged item type. • The effect of net interest settlements attributable to open derivative hedging instruments, which are recorded directly to the interest income/expense line item of the respective hedged item type. • Beginning January 1, 2019, on a prospective basis, hedge ineffectiveness, which represents the difference between changes in fair value of the derivative hedging instrument and the related change in fair value of the hedged item are recognized into net interest income in the same line item as the earnings effect of the hedged item. Prior to January 1, 2019, hedge ineffectiveness was classified in noninterest income on derivatives and hedging activities. Gain (Loss) on Derivative Gain (Loss) on Hedged Item Amount Recorded in Derivatives and Hedging Activities Amount Recorded in Net Interest Income Three months ended March 31, 2019 Available-for-sale debt securities $ (204 ) $ 193 $ (11 ) Advances (94 ) 106 12 Consolidated obligation bonds 104 (128 ) (24 ) Total $ (194 ) $ 171 $ (23 ) Three months ended March 31, 2018 Available-for-sale debt securities $ 37 $ (37 ) $ — $ (18 ) Advances 84 (82 ) 2 (2 ) MPF Loans held for portfolio — — — (1 ) Consolidated obligation bonds (124 ) 124 — (2 ) Total $ (3 ) $ 5 $ 2 $ (23 ) The following table presents the cumulative basis adjustments on hedged items designated as fair value hedges and the related amortized cost basis of the hedged items. As of March 31, 2019 Amortized cost of hedged asset/(liability) Basis adjustments for active hedging relationships included in amortized cost Basis adjustments for discontinued hedging relationships included in amortized cost Cumulative amount of fair value hedging basis adjustments Advances $ 9,109 $ 146 $ — $ 146 Available-for-sale securities 8,442 341 1 342 Consolidated obligation bonds (18,113 ) 62 36 98 MPF Loans held for portfolio 744 — 14 14 Cash Flow Hedges Beginning January 1, 2019 on a prospective basis, hedge ineffectiveness, which represents the difference between changes in fair value of the derivative hedging instrument and the related change in fair value of the hedged item, are recognized into net interest income in the same line item as the earnings effect of the hedged item. For cash flow hedges, recognition occurs only when amounts are reclassified out of accumulated other comprehensive income. Such recognition occurs when earnings are affected by the hedged item. Prior to January 1, 2019, hedge ineffectiveness was classified in noninterest income on derivatives and hedging activities. We are exposed to the variability in the total net proceeds received from forecasted zero-coupon discount note issuances, which is attributable to changes in LIBOR. As a result, we enter into cash flow hedge relationships utilizing derivative agreements to hedge the total net proceeds received from our "rolling" forecasted zero-coupon discount note issuances attributable to changes in LIBOR. The maximum length of time over which we are hedging this exposure is 10 years . We reclassify amounts in AOCI into our statements of income in the same periods during which the hedged forecasted transaction affects our earnings. We had no discontinued hedges for the periods presented. The deferred net gains (losses) on derivative instruments in AOCI that are expected to be reclassified to earnings during the next twelve months were $5 million as of March 31, 2019 . The following table presents our cash flow hedging results by type of hedged item. Additionally, the table indicates where cash flow hedging results are classified in our statements of income. In this regard, the Amount Reclassified from AOCI into Net Interest Income column includes the following: • The amortization of closed cash flow hedging adjustments, which are reclassified from AOCI into the interest income/expense line item of the respective hedged item type. • The effect of net interest settlements attributable to open derivative hedging instruments, which are initially recorded in AOCI and are reclassified to the interest income/expense line item of the respective hedged item type. Amount Recorded in Derivatives and Hedging Activities Gross Amount Initially Recognized in AOCI Amount Reclassified from AOCI into Net Interest Income Three months ended March 31, 2019 Discount notes $ (13 ) $ (11 ) Ineffectiveness Recorded in Derivatives and Hedging Activities Effective Portion Recorded in AOCI Amount Recorded in Net Interest Income Three months ended March 31, 2018 Discount notes $ 1 $ 59 $ (35 )

Consolidated Obligations

Consolidated Obligations	3 Months Ended
Consolidated Obligations	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Consolidated Obligations The FHLBs issue consolidated obligations through the Office of Finance as their agent. Consolidated obligations consist of discount notes and consolidated obligation bonds. Consolidated discount notes are issued to raise short-term funds, are issued at less than their face amount and redeemed at par value when they mature. The maturity of consolidated obligation bonds may range from less than one year to over 20 years , but they are not subject to any statutory or regulatory limits on maturity. The following table presents our consolidated obligation discount notes for which we are the primary obligor. All are due in one year or less. As of March 31, 2019 December 31, 2018 Carrying Amount $ 39,639 $ 43,166 Weighted Average Interest Rate 2.39 % 2.28 % The following table presents maturities and contractual interest rates on our consolidated obligation bonds, for which we are the primary obligor, including callable bonds that are redeemable in whole, or in part, at our discretion on predetermined call dates. As of March 31, 2019 Contractual Maturity Weighted Average Interest Rate By Maturity or Next Call Date Due in one year or less $ 22,304 2.21 % $ 35,880 One to two years 6,128 2.08 % 5,075 Two to three years 6,955 2.39 % 2,925 Three to four years 4,392 2.67 % 1,903 Four to five years 2,400 2.89 % 820 Thereafter 4,964 3.23 % 540 Total par value $ 47,143 2.41 % $ 47,143 The following table presents consolidated obligation bonds outstanding by call feature: As of March 31, 2019 December 31, 2018 Noncallable $ 30,154 $ 27,999 Callable 16,989 14,487 Par value 47,143 42,486 Fair value hedging adjustments (99 ) (227 ) Other adjustments 3 (9 ) Consolidated obligation bonds $ 47,047 $ 42,250 The following table summarizes the consolidated obligations of the FHLBs and those for which we are the primary obligor. We did not accrue a liability for our joint and several liability related to the other FHLBs’ share of the consolidated obligations as of March 31, 2019 , and December 31, 2018 . See Note 17 - Commitments and Contingencies in our 2018 Form 10-K for further details. March 31, 2019 December 31, 2018 Par values as of Bonds Discount Notes Total Bonds Discount Notes Total FHLB System total consolidated obligations $ 602,523 $ 408,372 $ 1,010,895 $ 604,250 $ 427,367 $ 1,031,617 FHLB Chicago as primary obligor 47,143 39,774 86,917 42,486 43,280 85,766 As a percent of the FHLB System 8 % 10 % 9 % 7 % 10 % 8 %

Capital and Mandatorily Redeema

Capital and Mandatorily Redeemable Capital Stock (MRCS)	3 Months Ended
Capital and Mandatorily Redeemable Capital Stock (MRCS)	Mar. 31, 2019
Federal Home Loan Banks [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Capital and Mandatorily Redeemable Capital Stock (MRCS) Under our Capital Plan our stock consists of two sub-classes of stock, Class B1 activity stock and Class B2 membership stock (together, Class B stock), both with a par value of $100 and redeemable on five years ' written notice, subject to certain conditions. Under the Capital Plan, each member is required to own capital stock in an amount equal to the greater of a membership stock requirement or an activity stock requirement. Class B1 activity stock is available to support a member's activity stock requirement. Class B2 membership stock is available to support a member's membership stock requirement and any activity stock requirement. See Note 13 – Capital and Mandatorily Redeemable Capital Stock (MRCS) to the financial statements in our 2018 Form 10-K for further information on our capital stock and MRCS. Minimum Capital Requirements For details on our minimum capital requirements, including how the ratios below were calculated, see Minimum Capital Requirements on page F-42 of our 2018 Form 10-K. We complied with our minimum regulatory capital requirements as shown below. March 31, 2019 December 31, 2018 Requirement Actual Requirement Actual Total regulatory capital $ 3,765 $ 5,583 $ 3,714 $ 5,547 Total regulatory capital ratio 4.00 % 5.93 % 4.00 % 5.97 % Leverage capital $ 4,706 $ 8,375 $ 4,643 $ 8,321 Leverage capital ratio 5.00 % 8.90 % 5.00 % 8.96 % Risk-based capital $ 1,084 $ 5,583 $ 1,111 $ 5,547 Total regulatory capital and leverage capital includes mandatorily redeemable capital stock (MRCS) but does not include AOCI. Under the FHFA regulation on capital classifications and critical capital levels for the FHLBs, we are adequately capitalized. The following members had regulatory capital stock exceeding 10% of our total regulatory capital stock outstanding (which includes MRCS): As of March 31, 2019 Regulatory Capital Stock Outstanding % of Total Outstanding Amount of Which is Classified as a Liability (MRCS) The Northern Trust Company $ 247 12.5 % $ — One Mortgage Partners Corp. 245 a 12.4 % 245 BMO Harris Bank, National Association 224 11.3 % — a One Mortgage Partners Corp. is a subsidiary of JPMorgan Chase Bank NA. Dividends Our ability to pay dividends is subject to the FHLB Act and FHFA regulations. On April 23, 2019, our Board of Directors declared a 5.00% dividend (annualized) for Class B1 activity stock and a 2.25% dividend (annualized) for Class B2 membership stock based on our preliminary financial results for the first quarter of 2019 . This dividend, including dividends on mandatorily redeemable capital stock, totaled $24 million

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
Accumulated Other Comprehensive Income (Loss)	Mar. 31, 2019
Equity [Abstract]
Comprehensive Income (Loss) Note [Text Block]	Accumulated Other Comprehensive Income (Loss) The following table summarizes the gains (losses) in AOCI for the reporting periods indicated. Net Unrealized - Non-credit OTTI - Net Unrealized - Cash Flow Hedges Available-for-sale Securities Held-to-maturity Securities Post-Retirement Plans AOCI Three months ended March 31, 2019 Beginning balance $ 211 $ (114 ) $ (31 ) $ (11 ) $ 55 Change in the period recorded to the statements of condition, before reclassifications to statements of income (2 ) 6 (13 ) 4 (5 ) Amounts reclassified in period to statements of income: Net interest income — — 11 — 11 Ending balance $ 209 $ (108 ) $ (33 ) $ (7 ) $ 61 Three months ended March 31, 2018 Beginning balance $ 407 $ (143 ) $ (147 ) $ (5 ) $ 112 Change in the period recorded to the statements of condition, before reclassifications to statements of income (49 ) 7 59 (2 ) 15 Amounts reclassified in period to statements of income: Noninterest income on derivatives and hedging activities — — (1 ) — (1 ) Ending balance $ 358 $ (136 ) $ (89 ) $ (7 ) $ 126

Fair Value

Fair Value	3 Months Ended
Fair Value	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Fair Value The following table is a summary of the fair value estimates and related levels in the hierarchy. The carrying amounts are per the statements of condition. Fair value estimates represent the exit prices that we would receive to sell assets or pay to transfer liabilities in an orderly transaction with market participants at the measurement date. They do not represent an estimate of our overall market value as a going concern, as they do not take into account future business opportunities or profitability of assets and liabilities. We measure instrument-specific credit risk attributable to our consolidated obligations based on our nonperformance risk, which includes the credit risk associated with the joint and several liability of other FHLBs. As a result, we did not recognize any instrument-specific credit risk attributable to our consolidated obligations that are carried at fair value. See Note 2 - Summary of Significant Accounting Policies in our 2018 Form 10-K for our fair value policies and Note 16 - Fair Value in our 2018 Form 10-K for our valuation techniques and significant inputs. See Note 9 - Derivatives and Hedging Activities for more information on the Netting and Cash Collateral amounts. Carrying Amount Fair Value Level 1 Level 2 Level 3 Netting & Cash Collateral March 31, 2019 Carried at amortized cost Cash and due from banks $ 25 $ 25 $ 25 $ — $ — Interest bearing deposits 425 425 425 — — Federal Funds sold and securities purchased under agreements to resell 13,620 13,620 — 13,620 — Held-to-maturity debt securities 2,485 2,753 — 2,158 595 Advances 49,145 49,200 — 49,200 — MPF Loans held in portfolio, net 7,576 7,678 — 7,669 9 Other assets 174 174 — 174 — Carried at fair value on a recurring basis Trading debt securities 3,985 3,985 — 3,985 — Government related non-MBS, ABS, and MBS 14,839 14,839 — 14,839 — Private label residential MBS 40 40 — — 40 Available-for-sale debt securities 14,879 14,879 — 14,839 40 Advances - fair value option election 1,631 1,631 — 1,631 — Derivative assets 19 19 — 207 — $ (188 ) Other assets - fair value option election 36 36 — 36 — Carried at fair value on a nonrecurring basis MPF Loans held in portfolio, net 2 2 — — 2 Financial assets 94,002 $ 94,427 $ 450 $ 93,519 $ 646 $ (188 ) Other non financial assets 120 Assets $ 94,122 Carried at amortized cost Deposits $ (561 ) $ (561 ) $ — $ (561 ) $ — Consolidated obligation discount notes (38,641 ) (38,635 ) — (38,635 ) — Consolidated obligation bonds (43,700 ) (43,843 ) — (43,843 ) — Mandatorily redeemable capital stock (315 ) (315 ) (315 ) — — Other liabilities (190 ) (190 ) — (190 ) — Carried at fair value on a recurring basis Consolidated obligation discount notes - fair value option (998 ) (998 ) — (998 ) — Consolidated obligation bonds - fair value option (3,347 ) (3,347 ) — (3,347 ) — Derivative liabilities (16 ) (16 ) — (302 ) — $ 286 Financial liabilities (87,768 ) $ (87,905 ) $ (315 ) $ (87,876 ) $ — $ 286 Other non financial liabilities (1,025 ) Liabilities $ (88,793 ) Carrying Amount Fair Value Level 1 Level 2 Level 3 Netting December 31, 2018 Carried at amortized cost Cash and due from banks $ 28 $ 28 $ 28 $ — $ — Interest bearing deposits 775 775 775 — — Federal Funds sold and securities purchased under agreements to resell 10,604 10,604 — 10,604 — Held-to-maturity debt securities 3,213 3,492 — 2,870 622 Advances 51,603 51,615 — 51,615 — MPF Loans held in portfolio, net 7,096 7,091 — 7,085 6 Other assets 190 190 — 190 — Carried at fair value on a recurring basis Trading debt securities 3,478 3,478 — 3,478 — Government related non-MBS, ABS, and MBS 14,573 14,573 — 14,573 — Private label residential MBS 41 41 — — 41 Available-for-sale debt securities 14,614 14,614 — 14,573 41 Advances - fair value option election 1,025 1,025 — 1,025 — Derivative assets 6 6 — 140 — $ (134 ) Other assets - fair value option election 108 108 — 108 — Carried at fair value on a nonrecurring basis MPF Loans held in portfolio, net 7 7 — — 7 Other assets 1 1 — — 1 Financial assets 92,748 $ 93,034 $ 803 $ 91,688 $ 677 $ (134 ) Other non financial assets 109 Assets $ 92,857 Carried at amortized cost Deposits (551 ) (551 ) — (551 ) — Consolidated obligation discount notes (42,174 ) (42,170 ) — (42,170 ) — Consolidated obligation bonds (39,898 ) (39,895 ) — (39,895 ) — Mandatorily redeemable capital stock (313 ) (313 ) (313 ) — — Other liabilities (153 ) (153 ) — (153 ) — Carried at fair value on a recurring basis Consolidated obligation discount notes - fair value option (992 ) (992 ) — (992 ) — Consolidated obligation bonds - fair value option (2,352 ) (2,352 ) — (2,352 ) — Derivative liabilities (16 ) (16 ) — (321 ) — 305 Financial liabilities (86,449 ) $ (86,442 ) $ (313 ) $ (86,434 ) $ — $ 305 Other non financial liabilities (1,119 ) Liabilities $ (87,568 ) We had no transfers between levels for the periods shown. Fair Value Option We may elect the fair value option for financial instruments, such as advances, MPF Loans held for sale, and consolidated obligation discount notes and bonds, in cases where hedge accounting treatment may not be achieved due to the inability to meet the hedge effectiveness testing criteria. Financial instruments for which we elected the fair value option along with their related fair value are shown on our Statements of Condition. Refer to our Note 2 – Summary of Significant Accounting Policies to the financial statements in our 2018 Form 10-K for further details. The following table presents the changes in fair values of financial assets and liabilities carried at fair value under the fair value option. These changes were recognized in noninterest income - instruments held under the fair value option in our statements of income. Three months ended March 31, 2019 2018 Advances $ 10 $ (9 ) Other assets — (3 ) Consolidated obligation bonds (8 ) 5 Noninterest income - Instruments held under fair value option $ 2 $ (7 ) The following table reflects the difference between the aggregate unpaid principal balance (UPB) outstanding and the aggregate fair value for our long term financial instruments for which the fair value option has been elected. None of the advances were 90 days or more past due and none were on nonaccrual status. March 31, 2019 December 31, 2018 As of Advances Consolidated Obligation Bonds Advances Consolidated Obligation Bonds Unpaid principal balance $ 1,631 $ 3,340 $ 1,037 $ 2,358 Fair value over (under) UPB — 7 (12 ) (6 ) Fair value $ 1,631 $ 3,347 $ 1,025 $ 2,352

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies [Text Block]	Commitments and Contingencies The following table shows our commitments outstanding, which represent off-balance sheet obligations. March 31, 2019 December 31, 2018 As of Expire within one year Expire after one year Total Expire within one year Expire after one year Total Unsettled consolidated obligation bonds $ 325 $ — $ 325 $ 114 $ — $ 114 Member standby letters of credit 17,342 6,068 a 23,410 19,971 4,335 a 24,306 Housing authority standby bond purchase agreements 211 244 455 84 289 373 Advance commitments 14 24 38 267 7 274 MPF delivery commitments 375 — 375 336 — 336 Other 1 — 1 3 — 3 Commitments $ 18,268 $ 6,336 $ 24,604 $ 20,775 $ 4,631 $ 25,406 a Contains $2.0 billion and $1.7 billion of member standby letters of credit as of March 31, 2019 , and December 31, 2018 , which were renewable annually. For a description of defined terms see Note 17 - Commitments and Contingencies to the financial statements in our 2018

Transactions with Related Parti

Transactions with Related Parties and Other FHLBs	3 Months Ended
Transactions with Related Parties and Other FHLBs	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Transactions with Related Parties and Other FHLBs We define related parties as either members whose officers or directors serve on our Board of Directors, or members that control more than 10% of our total voting interests. We did not have any members that controlled more than 10% of our total voting interests for the periods presented in these financial statements. In the normal course of business, we may extend credit to or enter into other transactions with a related party. These transactions are done at market terms that are no more favorable than the terms of comparable transactions with other members who are not considered related parties. Members The following table summarizes material balances we had with our members who are related parties as defined above (including their affiliates) as of the periods presented. The related impacts to our Statements of Income were no t material. As of March 31, 2019 December 31, 2018 Assets - Advances $ 625 $ 665 Liabilities - Deposits 7 6 Equity - Capital Stock 27 27 Other FHLBs From time to time, we may loan to, or borrow from, other FHLBs. These transactions are done at market terms that are no more favorable than the terms of comparable transactions with other counterparties. These transactions are overnight, maturing the following business day. In addition, we provide programmatic and operational support in our role as the administrator of the MPF Program on behalf of the other MPF Banks for a fee. Material transactions with other FHLBs are identified on the face of our Financial Statements starting on page 3.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2019
Accounting Policies [Abstract]
Derivatives, Policy [Policy Text Block]	The Inclusion of the Overnight Index Swap (OIS) Rate based on the Secured Overnight Financing Rate (SOFR) as a Benchmark Interest Rate for Hedge Accounting Purposes (FASB ASU 2018-16) In October of 2018, the FASB issued an amendment that adds the OIS rate based on the SOFR as a U.S. benchmark interest rate for hedge accounting purposes, in light of the plan for a phase out of the oversight of LIBOR. The SOFR OIS rate is the fixed rate on a U.S. dollar, constant-notional interest rate swap that has its variable-rate leg referenced to SOFR (an overnight rate) with no additional spread over SOFR on that variable-rate leg. That fixed rate is the derived rate that would result in the swap having a zero fair value at inception because the present value of fixed cash flows, based on that rate, equates to the present value of the variable cash flows. Including the OIS rate based on SOFR as an eligible benchmark interest rate during the early stages of the marketplace transition should facilitate the LIBOR to SOFR transition and provide sufficient lead time for us to prepare for changes to interest rate risk hedging strategies for both risk management and hedge accounting purposes. We adopted this amendment on a prospective basis for qualifying new hedging relationships entered on or after January 1, 2019. Th
Derivatives, Methods of Accounting, Hedge Effectiveness [Policy Text Block]	Targeted Improvements to Accounting for Hedging Activities (ASU 2017-12) In August of 2017, the FASB issued targeted improvements to existing derivatives and hedging guidance. Upon adoption, we modified the risk of certain fair value hedges from contractual coupon interest rate to benchmark rate component improving hedge effectiveness. The opening cumulative adjustment related to modifying the risk being hedged was an increase to retained earnings of $16 million and a corresponding increase to the cumulative basis adjustment (carrying value) of the hedged items. The opening adjustment to retained earnings related to ineffectiveness recognized in prior reporting periods attributable to open cash flow hedges was not material. Prior reporting periods were not restated. Significant changes to existing GAAP guidance were as follows: Hedging Strategies Newly Permitted: • Permits entering into a cash flow hedge of the variability in cash flows in a financial instrument that has a contractually specified interest rate. • Permits hedging the benchmark risk component of cash flows in a fair value hedge. • Permits entering into a partial-term fair value hedge of the hedged item. • Permits entering into last-of-layer fair value hedges. Assessment of Hedge Effectiveness: • Permits qualitatively assessing hedge effectiveness. • Enabled applying the long-haul method of assessing hedge effectiveness in cases where the shortcut method was initially applied but subsequently is not or is no longer is appropriate. Financial Statement Presentation: • Required the entire change in fair value of the hedging instrument in a cash flow hedge to be recorded and deferred in AOCI until reclassification to our statements of income would be required. • Required hedge ineffectiveness to be presented in either interest income or interest expense, whichever is appropriate, rather than into noninterest income on derivatives and hedging activities in our statements of income. This means that changes in fair value on AFS debt securities in a fair value hedging relationship are immediately recognized into interest income in our statement of income. • The above presentation guidance was prospectively adopted. Prior to January 1, 2019, hedge ineffectiveness was classified in noninterest income on derivatives and hedging activities in our statements of income.
Lessee, Leases [Policy Text Block]	Leases (ASU 2016-02) In February of 2016, the FASB issued lease accounting guidance that became effective January 1, 2019. Upon adoption, we applied the guidance to the beginning of January 1, 2019, using the modified retrospective approach. Prior financial statements were not restated. There was no cumulative effect adjustment to the opening balance of retained earnings as of January 1, 2019. The guidance required us to recognize and measure our operating leases as right-of-use assets, with terms that exceed 12 months, in our statements of condition - that amount, which was $11 million , was recognized in other assets and other liabilities as of January 1, 2019. Expenses attributable to our leases are included in noninterest expense - operating expenses in our statements of income. Payments related to our operating leases are classified within operating activities in our statements of cash flows.

Interest Income and Interest _2

Interest Income and Interest Expense (Tables)	3 Months Ended
Interest Income and Interest Expense (Tables)	Mar. 31, 2019
Interest Income (Expense), Net [Abstract]
Interest Income and Interest Expense [Table Text Block]	The following table presents interest income and interest expense for the periods indicated: Three months ended March 31, 2019 2018 Interest income - Trading $ 17 $ 6 Available-for-sale interest income 124 104 Available-for-sale prepayment fees 1 7 Available-for-sale 125 111 Held-to-maturity 38 46 Investment debt securities 180 163 Advances 358 214 MPF Loans held in portfolio 76 55 Federal funds sold and securities purchased under agreements to resell 67 44 Other 5 4 Interest income 686 480 Interest expense - Consolidated obligations - Discount notes 281 183 Bonds 279 169 Other 8 4 Interest expense 568 356 Net interest income $ 118 $ 124

Investment Debt Securities (Tab

Investment Debt Securities (Tables)	3 Months Ended
Investment Debt Securities (Tables)	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Trading Securities by Major Security Type [Table Text Block]	The following table presents the fair value of our trading debt securities. As of March 31, 2019 December 31, 2018 U.S. Government & other government related $ 3,967 $ 3,460 Residential MBS GSE 17 17 Government guaranteed 1 1 Trading debt securities $ 3,985 $ 3,478 The following table presents our gains and losses on trading debt securities recorded in Noninterest Income Other. Three months ended March 31, 2019 2018 Net unrealized gains (losses) on securities held at period end $ (3 ) $ — Net realized gains (losses) on securities sold/matured during the period 11 — Net gains (losses) on trading debt securities $ 8 $ —
Available-for-sale Securities by Major Security Type [Table Text Block]	Amortized Cost Basis and Fair Value – Available-for-Sale Debt Securities (AFS) Amortized Cost Basis Gross Unrealized Gains in AOCI Gross Unrealized (Losses) in AOCI Carrying Amount and Fair Value As of March 31, 2019 U.S. Government & other government related $ 641 $ 20 $ (2 ) $ 659 State or local housing agency 15 — — 15 FFELP ABS 3,486 183 — 3,669 Residential MBS GSE 9,922 22 (34 ) 9,910 Government guaranteed 574 12 — 586 Private label 32 8 — 40 Available-for-sale debt securities $ 14,670 $ 245 $ (36 ) $ 14,879 As of December 31, 2018 U.S. Government & other government related $ 528 $ 15 $ — $ 543 State or local housing agency 17 — — 17 FFELP ABS 3,578 203 — 3,781 Residential MBS GSE 9,602 20 (48 ) 9,574 Government guaranteed 645 13 — 658 Private label 33 8 — 41 Available-for-sale debt securities $ 14,403 $ 259 $ (48 ) $ 14,614 We had no sales of AFS securities for the periods presented.
Held-to-maturity Securities by Major Security Type [Table Text Block]	Amortized Cost Basis, Carrying Amount, and Fair Value - Held-to-Maturity Debt Securities (HTM) Amortized Cost Basis Non-credit OTTI Recognized in AOCI (Loss) Carrying Amount Gross Unrecognized Holding Gains Gross Unrecognized Holding (Losses) Fair Value As of March 31, 2019 U.S. Government & other government related $ 707 $ — $ 707 $ 11 $ — $ 718 State or local housing agency 6 — 6 — — 6 Residential MBS GSE 1,085 — 1,085 33 — 1,118 Government guaranteed 314 — 314 2 — 316 Private label 481 (108 ) 373 222 — 595 Held-to-maturity debt securities $ 2,593 $ (108 ) $ 2,485 $ 268 $ — $ 2,753 As of December 31, 2018 U.S. Government & other government related $ 1,305 $ — $ 1,305 $ 18 $ (1 ) $ 1,322 State or local housing agency 6 — 6 — — 6 Residential MBS GSE 1,141 — 1,141 30 — 1,171 Government guaranteed 369 — 369 2 — 371 Private label 506 (114 ) 392 230 — 622 Held-to-maturity debt securities $ 3,327 $ (114 ) $ 3,213 $ 280 $ (1 ) $ 3,492 We had no
Investments Classified by Contractual Maturity Date [Table Text Block]	The maturity of our AFS and HTM investments is detailed in the following table. Available-for-Sale Held-to-Maturity As of March 31, 2019 Carrying Amount and Fair Value Carrying Amount Fair Value Year of Maturity - Due in one year or less $ — $ 90 $ 90 Due after one year through five years 3 77 78 Due after five years through ten years 241 83 84 Due after ten years 430 463 472 ABS and MBS without a single maturity date 14,205 1,772 2,029 Total debt securities $ 14,879 $ 2,485 $ 2,753
Schedule of Unrealized Loss on Investments [Table Text Block]	The following table presents unrealized temporary losses on our AFS and HTM portfolio for periods less than 12 months and for 12 months or more. We recognized no OTTI charges on these unrealized loss positions. Refer to the Other-Than-Temporary Impairment Analysis section below for further discussion. In the tables below, in cases where the gross unrealized losses for an investment category are less than $1 million, the losses are not reported. Less than 12 Months 12 Months or More Total Fair Value Gross Unrealized (Losses) Fair Value Gross Unrealized (Losses) Fair Value Gross Unrealized (Losses) Available-for-sale debt securities As of March 31, 2019 U.S. Government & other government related $ 27 $ — $ 3 $ (2 ) $ 30 $ (2 ) State or local housing agency — — 3 — 3 — FFELP ABS 563 — — — 563 — Residential MBS GSE 5,562 (34 ) — — 5,562 (34 ) Government guaranteed 4 — — — 4 — Private label — — 5 — 5 — Available-for-sale debt securities $ 6,156 $ (34 ) $ 11 $ (2 ) $ 6,167 $ (36 ) As of December 31, 2018 U.S. Government & other government related $ — $ — $ 3 $ — $ 3 $ — State or local housing agency 1 — 3 — 4 — Residential MBS GSE 5,573 (46 ) 48 (2 ) 5,621 (48 ) Government guaranteed 31 — — — 31 — Private label — — 5 — 5 — Available-for-sale debt securities $ 5,605 $ (46 ) $ 59 $ (2 ) $ 5,664 $ (48 ) Held-to-maturity debt securities As of March 31, 2019 U.S. Government & other government related $ 4 $ — $ 15 $ — $ 19 $ — Residential MBS Government-guaranteed 110 — 61 — 171 — Private label — — 567 (108 ) 567 (108 ) Held-to-maturity debt securities $ 114 $ — $ 643 $ (108 ) $ 757 $ (108 ) As of December 31, 2018 U.S. Government & other government related $ 459 $ — $ 23 $ (1 ) $ 482 $ (1 ) State or local housing agency — — 2 — 2 — Residential MBS Government guaranteed 170 — — — 170 — Private label — — 592 (114 ) 592 (114 ) Held-to-maturity debt securities $ 629 $ — $ 617 $ (115 ) $ 1,246 $ (115 )
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block]	The following table presents the changes in the cumulative amount of previously recorded OTTI credit losses on investment debt securities recognized into earnings for the reporting periods indicated. Three months ended March 31, 2019 2018 Beginning Balance $ 442 $ 477 Reductions: Increases in cash flows expected to be collected and recognized into interest income (7 ) (9 ) Ending Balance $ 435 $ 468

Advances (Tables)

Advances (Tables)	3 Months Ended
Advances (Tables)	Mar. 31, 2019
Federal Home Loan Banks [Abstract]
Federal Home Loan Bank, Advances [Table Text Block]	The following table presents our advances by terms of contractual maturity and the related weighted average contractual interest rate. For amortizing advances, contractual maturity is determined based on the advance’s amortization schedule. Actual maturities may differ from contractual maturities because some borrowers have the right to call or prepay advances with or without penalties. As of March 31, 2019 Amount Weighted Average Contractual Interest Rate Due in one year or less $ 19,127 2.48 % One to two years 3,112 2.27 % Two to three years 2,352 2.56 % Three to four years 4,233 2.65 % Four to five years 9,074 2.65 % More than five years 12,730 2.53 % Par value $ 50,628 2.52 % We have no allowance for credit losses on our advances. See Note 8 - Allowance for Credit Losses to the financial statements for further information related to our credit risk on advances. The following table reconciles the par value of our advances to the carrying amount on our statements of condition as of the dates indicated. As of March 31, 2019 December 31, 2018 Par value $ 50,628 $ 52,606 Fair value hedging adjustments 145 30 Other adjustments 3 (8 ) Advances $ 50,776 $ 52,628
Credit Concentration Risk
Concentration Risk [Line Items]
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	The following advance borrowers exceeded 10% of our advances outstanding: As of March 31, 2019 Par Value % of Total Outstanding One Mortgage Partners Corp. $ 11,000 a 21.7 % The Northern Trust Company 7,700 15.2 % a One Mortgage Partners Corp. is a subsidiary of JPMorgan Chase Bank NA.

MPF Loans Held in Portfolio (Ta

MPF Loans Held in Portfolio (Tables)	3 Months Ended
MPF Loans Held in Portfolio (Tables)	Mar. 31, 2019
Receivables [Abstract]
Schedule of Participating Mortgage Loans [Table Text Block]	The following table presents information on MPF Loans held in portfolio by contractual maturity at the time of purchase. As of March 31, 2019 December 31, 2018 Medium term (15 years or less) $ 348 $ 334 Long term (greater than 15 years) 7,109 6,662 Unpaid principal balance 7,457 6,996 Net premiums, credit enhancement, and/or deferred loan fees 114 100 Fair value and economic hedging adjustments 8 8 MPF Loans held in portfolio, before allowance for credit losses 7,579 7,104 Allowance for credit losses on MPF Loans (1 ) (1 ) MPF Loans held in portfolio, net $ 7,578 $ 7,103 Conventional mortgage loans $ 6,537 $ 6,062 Government Loans 920 934 Unpaid principal balance $ 7,457 $ 6,996 The above table excludes MPF Loans acquired under the MPF Xtra, MPF Direct, and MPF Government MBS products. See Note 2 - Summary of Significant Accounting Policies

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	3 Months Ended
Allowance for Credit Losses (Tables)	Mar. 31, 2019
Receivables [Abstract]
Allowance for Credit Losses on Financing Receivables [Table Text Block]	We only have recorded an allowance for credit losses on conventional MPF Loans held in portfolio as further discussed below. For further detail of our MPF Risk Sharing Structure see page F-15 in our 2018 Form 10-K. There has been no material activity in our allowance for credit losses since December 31, 2018 . The following table presents the recorded investment and the allowance for credit losses in conventional MPF Loans by impairment methodology. As of March 31, 2019 December 31, 2018 Conventional mortgage loans - Individually evaluated for impairment $ 31 $ 33 Collectively evaluated for impairment 6,652 6,155 Recorded investment $ 6,683 $ 6,188 Allowance for credit losses - Collectively evaluated for impairment $ 1 $ 1
Past Due Financing Receivables [Table Text Block]	The following table summarizes our recorded investment in MPF Loans by our key credit quality indicators, which include: • "Serious delinquency rate" consists of MPF Loans that are 90 days or more past due or in the process of foreclosure, as a percentage of the total recorded investment. MPF Loans that are both 90 days or more past due and in the process of foreclosure are only included once in our serious delinquency rate calculation. • "Past due 90 days or more still accruing interest" consists of MPF Loans that are either insured or guaranteed by the government or conventional mortgage loans that are well secured (by collateral that have a realizable value sufficient to discharge the debt or by the guarantee or insurance, such as primary mortgage insurance, of a financially responsible party) and in the process of collection. • Conventional MPF Loans are individually evaluated for impairment when they are adversely classified. There is no allowance for credit losses attributable to conventional MPF Loans that are individually evaluated for impairment, since the related allowance for credit losses has been charged off. We do not recognize interest income on impaired conventional MPF Loans. March 31, 2019 December 31, 2018 As of Conventional Government Total Conventional Government Total Past due 30-59 days $ 70 $ 38 $ 108 $ 59 $ 42 $ 101 Past due 60-89 days 17 12 29 17 14 31 Past due 90 days or more 30 17 47 31 19 50 Past due 117 67 184 107 75 182 Current 6,566 872 7,438 6,081 879 6,960 Recorded investment $ 6,683 $ 939 $ 7,622 $ 6,188 $ 954 $ 7,142 In process of foreclosure $ 11 $ 5 $ 16 $ 13 $ 6 $ 19 Serious delinquency rate 0.46 % 1.85 % 0.63 % 0.51 % 1.95 % 0.70 % Past due 90 days or more and still accruing interest $ 5 $ 17 $ 22 $ 5 $ 19 $ 24 Impaired loans without an allowance for credit losses and on nonaccrual status 31 31 33 33 Unpaid principal balance of impaired loans without an allowance for credit losses 33 33 36 36

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	3 Months Ended
Derivatives and Hedging Activities (Tables)	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The following table presents details on the notional amounts, and derivative assets and liabilities on our statements of condition. The netting adjustment amount includes cash collateral (either received or paid by us) and related accrued interest in cases where we have a legal right, by contract (e.g., master netting agreement) or otherwise, to offset cash flow obligations between us and our counterparty into a single net payable or receivable. March 31, 2019 December 31, 2018 As of Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities Derivatives in hedge accounting relationships- Interest rate contracts $ 35,781 $ 53 $ 224 $ 35,549 $ 39 $ 261 Derivatives not in hedge accounting relationships- Interest rate contracts 23,496 152 77 19,803 100 59 Other 601 2 1 619 1 1 Derivatives not in hedge accounting relationships 24,097 154 78 20,422 101 60 Gross derivative amount before netting adjustments and cash collateral $ 59,878 207 302 $ 55,971 140 321 Netting adjustments and cash collateral (188 ) (286 ) (134 ) (305 ) Derivatives on statements of condition $ 19 $ 16 $ 6 $ 16 Cash Collateral Cash Collateral Cash collateral posted and related accrued interest $ 148 $ 203 Cash collateral received and related accrued interest 50 32
Derivatives And Hedging Activities as Presented in the Statements of Income [Table Text Block]	The following table presents the Noninterest income - Derivatives and hedging activities as presented in the Statements of Income. For fair value and cash flow hedging relationships, the portion of net gains (losses) representing hedge ineffectiveness are recorded in Noninterest income for periods prior to January 1, 2019. Three months ended March 31, For the periods ending 2019 2018 Fair value hedges - interest rate contracts $ 2 Cash flow hedges - interest rate contracts 1 Economic hedges - Interest rate contracts $ (5 ) (7 ) Other 2 1 Economic hedges (3 ) (6 ) Variation margin on daily settled cleared derivatives 1 — Noninterest income - Derivatives and hedging activities $ (2 ) $ (3 )
Offsetting Assets [Table Text Block]	The following table presents details regarding the offsetting of our derivative assets and liabilities on our statements of condition. The netting adjustment amount includes cash collateral (either received or paid by us) and related accrued interest in cases where we have a legal right, by contract (e.g., master netting agreement) or otherwise, to offset cash flow obligations between us and our counterparty into a single net payable or receivable. Derivative Assets Derivative Liabilities Bilateral Cleared Total Bilateral Cleared Total As of March 31, 2019 Derivatives with legal right of offset - Gross recognized amount $ 135 $ 70 $ 205 $ 236 $ 65 $ 301 Netting adjustments and cash collateral (130 ) (58 ) (188 ) (228 ) (58 ) (286 ) Derivatives with legal right of offset - net 5 12 17 8 7 15 Derivatives without legal right of offset 2 — 2 1 — 1 Derivatives on statements of condition 7 12 19 9 7 16 Less: Noncash collateral received or pledged and cannot be sold or repledged — — — — 7 7 Net amount $ 7 $ 12 $ 19 $ 9 $ — $ 9 As of December 31, 2018 Derivatives with legal right of offset - Gross recognized amount $ 107 $ 32 $ 139 $ 279 $ 41 $ 320 Netting adjustments and cash collateral (102 ) (32 ) (134 ) (273 ) (32 ) (305 ) Derivatives with legal right of offset - net 5 — 5 6 9 15 Derivatives without legal right of offset 1 — 1 1 — 1 Derivatives on statements of condition 6 — 6 7 9 16 Less: Noncash collateral received or pledged and cannot be sold or repledged — — — — 9 9 Net amount $ 6 $ — $ 6 $ 7 $ — $ 7
Offsetting Liabilities [Table Text Block]	The following table presents details regarding the offsetting of our derivative assets and liabilities on our statements of condition. The netting adjustment amount includes cash collateral (either received or paid by us) and related accrued interest in cases where we have a legal right, by contract (e.g., master netting agreement) or otherwise, to offset cash flow obligations between us and our counterparty into a single net payable or receivable. Derivative Assets Derivative Liabilities Bilateral Cleared Total Bilateral Cleared Total As of March 31, 2019 Derivatives with legal right of offset - Gross recognized amount $ 135 $ 70 $ 205 $ 236 $ 65 $ 301 Netting adjustments and cash collateral (130 ) (58 ) (188 ) (228 ) (58 ) (286 ) Derivatives with legal right of offset - net 5 12 17 8 7 15 Derivatives without legal right of offset 2 — 2 1 — 1 Derivatives on statements of condition 7 12 19 9 7 16 Less: Noncash collateral received or pledged and cannot be sold or repledged — — — — 7 7 Net amount $ 7 $ 12 $ 19 $ 9 $ — $ 9 As of December 31, 2018 Derivatives with legal right of offset - Gross recognized amount $ 107 $ 32 $ 139 $ 279 $ 41 $ 320 Netting adjustments and cash collateral (102 ) (32 ) (134 ) (273 ) (32 ) (305 ) Derivatives with legal right of offset - net 5 — 5 6 9 15 Derivatives without legal right of offset 1 — 1 1 — 1 Derivatives on statements of condition 6 — 6 7 9 16 Less: Noncash collateral received or pledged and cannot be sold or repledged — — — — 9 9 Net amount $ 6 $ — $ 6 $ 7 $ — $ 7 At March 31, 2019 , we had $332 million of additional credit exposure on cleared derivatives due to pledging of noncash collateral to our DCOs for initial margin, which exceeded our derivative position. We had $260 million of comparable exposure at December 31, 2018 .
Fair Value Hedges [Table Text Block]	The following table presents our fair value hedging results by the type of hedged item. We had no gain (loss) for hedges that no longer qualified as a fair value hedge. Additionally, the table indicates where fair value hedging results are classified in our statements of income. In this regard, the Amount Recorded in Net Interest Income column includes the following: • The amortization of closed fair value hedging adjustments, which are included in the interest income/expense line item of the respective hedged item type. • The effect of net interest settlements attributable to open derivative hedging instruments, which are recorded directly to the interest income/expense line item of the respective hedged item type. • Beginning January 1, 2019, on a prospective basis, hedge ineffectiveness, which represents the difference between changes in fair value of the derivative hedging instrument and the related change in fair value of the hedged item are recognized into net interest income in the same line item as the earnings effect of the hedged item. Prior to January 1, 2019, hedge ineffectiveness was classified in noninterest income on derivatives and hedging activities. Gain (Loss) on Derivative Gain (Loss) on Hedged Item Amount Recorded in Derivatives and Hedging Activities Amount Recorded in Net Interest Income Three months ended March 31, 2019 Available-for-sale debt securities $ (204 ) $ 193 $ (11 ) Advances (94 ) 106 12 Consolidated obligation bonds 104 (128 ) (24 ) Total $ (194 ) $ 171 $ (23 ) Three months ended March 31, 2018 Available-for-sale debt securities $ 37 $ (37 ) $ — $ (18 ) Advances 84 (82 ) 2 (2 ) MPF Loans held for portfolio — — — (1 ) Consolidated obligation bonds (124 ) 124 — (2 ) Total $ (3 ) $ 5 $ 2 $ (23 ) The following table presents the cumulative basis adjustments on hedged items designated as fair value hedges and the related amortized cost basis of the hedged items. As of March 31, 2019 Amortized cost of hedged asset/(liability) Basis adjustments for active hedging relationships included in amortized cost Basis adjustments for discontinued hedging relationships included in amortized cost Cumulative amount of fair value hedging basis adjustments Advances $ 9,109 $ 146 $ — $ 146 Available-for-sale securities 8,442 341 1 342 Consolidated obligation bonds (18,113 ) 62 36 98 MPF Loans held for portfolio 744 — 14 14
Cash Flow Hedges [Table Text Block]	The following table presents our cash flow hedging results by type of hedged item. Additionally, the table indicates where cash flow hedging results are classified in our statements of income. In this regard, the Amount Reclassified from AOCI into Net Interest Income column includes the following: • The amortization of closed cash flow hedging adjustments, which are reclassified from AOCI into the interest income/expense line item of the respective hedged item type. • The effect of net interest settlements attributable to open derivative hedging instruments, which are initially recorded in AOCI and are reclassified to the interest income/expense line item of the respective hedged item type. Amount Recorded in Derivatives and Hedging Activities Gross Amount Initially Recognized in AOCI Amount Reclassified from AOCI into Net Interest Income Three months ended March 31, 2019 Discount notes $ (13 ) $ (11 ) Ineffectiveness Recorded in Derivatives and Hedging Activities Effective Portion Recorded in AOCI Amount Recorded in Net Interest Income Three months ended March 31, 2018 Discount notes $ 1 $ 59 $ (35 )

Consolidated Obligations (Table

Consolidated Obligations (Tables)	3 Months Ended
Consolidated Obligations (Tables)	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule of Short-term Debt [Table Text Block]	The following table presents our consolidated obligation discount notes for which we are the primary obligor. All are due in one year or less. As of March 31, 2019 December 31, 2018 Carrying Amount $ 39,639 $ 43,166 Weighted Average Interest Rate 2.39 % 2.28 %
Schedule of Maturities of Long-term Debt [Table Text Block]	The following table presents maturities and contractual interest rates on our consolidated obligation bonds, for which we are the primary obligor, including callable bonds that are redeemable in whole, or in part, at our discretion on predetermined call dates. As of March 31, 2019 Contractual Maturity Weighted Average Interest Rate By Maturity or Next Call Date Due in one year or less $ 22,304 2.21 % $ 35,880 One to two years 6,128 2.08 % 5,075 Two to three years 6,955 2.39 % 2,925 Three to four years 4,392 2.67 % 1,903 Four to five years 2,400 2.89 % 820 Thereafter 4,964 3.23 % 540 Total par value $ 47,143 2.41 % $ 47,143
Schedule of Long-term Debt Instruments [Table Text Block]	The following table presents consolidated obligation bonds outstanding by call feature: As of March 31, 2019 December 31, 2018 Noncallable $ 30,154 $ 27,999 Callable 16,989 14,487 Par value 47,143 42,486 Fair value hedging adjustments (99 ) (227 ) Other adjustments 3 (9 ) Consolidated obligation bonds $ 47,047 $ 42,250
Schedule of Guarantor Obligations [Table Text Block]	The following table summarizes the consolidated obligations of the FHLBs and those for which we are the primary obligor. We did not accrue a liability for our joint and several liability related to the other FHLBs’ share of the consolidated obligations as of March 31, 2019 , and December 31, 2018 . See Note 17 - Commitments and Contingencies in our 2018 Form 10-K for further details. March 31, 2019 December 31, 2018 Par values as of Bonds Discount Notes Total Bonds Discount Notes Total FHLB System total consolidated obligations $ 602,523 $ 408,372 $ 1,010,895 $ 604,250 $ 427,367 $ 1,031,617 FHLB Chicago as primary obligor 47,143 39,774 86,917 42,486 43,280 85,766 As a percent of the FHLB System 8 % 10 % 9 % 7 % 10 % 8 %

Capital and Mandatorily Redee_2

Capital and Mandatorily Redeemable Capital Stock (MRCS) (Tables)	3 Months Ended
	Mar. 31, 2019
Federal Home Loan Banks [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]	For details on our minimum capital requirements, including how the ratios below were calculated, see Minimum Capital Requirements on page F-42 of our 2018 Form 10-K. We complied with our minimum regulatory capital requirements as shown below. March 31, 2019 December 31, 2018 Requirement Actual Requirement Actual Total regulatory capital $ 3,765 $ 5,583 $ 3,714 $ 5,547 Total regulatory capital ratio 4.00 % 5.93 % 4.00 % 5.97 % Leverage capital $ 4,706 $ 8,375 $ 4,643 $ 8,321 Leverage capital ratio 5.00 % 8.90 % 5.00 % 8.96 % Risk-based capital $ 1,084 $ 5,583 $ 1,111 $ 5,547 Total regulatory capital and leverage capital includes mandatorily redeemable capital stock (MRCS) but does not include AOCI. Under the FHFA regulation on capital classifications and critical capital levels for the FHLBs, we are adequately capitalized.
Stockholders' Equity, Total [Member]
Concentration Risk [Line Items]
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	The following members had regulatory capital stock exceeding 10% of our total regulatory capital stock outstanding (which includes MRCS): As of March 31, 2019 Regulatory Capital Stock Outstanding % of Total Outstanding Amount of Which is Classified as a Liability (MRCS) The Northern Trust Company $ 247 12.5 % $ — One Mortgage Partners Corp. 245 a 12.4 % 245 BMO Harris Bank, National Association 224 11.3 % — a One Mortgage Partners Corp. is a subsidiary of JPMorgan Chase Bank NA.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Mar. 31, 2019
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The following table summarizes the gains (losses) in AOCI for the reporting periods indicated. Net Unrealized - Non-credit OTTI - Net Unrealized - Cash Flow Hedges Available-for-sale Securities Held-to-maturity Securities Post-Retirement Plans AOCI Three months ended March 31, 2019 Beginning balance $ 211 $ (114 ) $ (31 ) $ (11 ) $ 55 Change in the period recorded to the statements of condition, before reclassifications to statements of income (2 ) 6 (13 ) 4 (5 ) Amounts reclassified in period to statements of income: Net interest income — — 11 — 11 Ending balance $ 209 $ (108 ) $ (33 ) $ (7 ) $ 61 Three months ended March 31, 2018 Beginning balance $ 407 $ (143 ) $ (147 ) $ (5 ) $ 112 Change in the period recorded to the statements of condition, before reclassifications to statements of income (49 ) 7 59 (2 ) 15 Amounts reclassified in period to statements of income: Noninterest income on derivatives and hedging activities — — (1 ) — (1 ) Ending balance $ 358 $ (136 ) $ (89 ) $ (7 ) $ 126

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
Fair Value (Tables)	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurement [Table Text Block]	The following table is a summary of the fair value estimates and related levels in the hierarchy. The carrying amounts are per the statements of condition. Fair value estimates represent the exit prices that we would receive to sell assets or pay to transfer liabilities in an orderly transaction with market participants at the measurement date. They do not represent an estimate of our overall market value as a going concern, as they do not take into account future business opportunities or profitability of assets and liabilities. We measure instrument-specific credit risk attributable to our consolidated obligations based on our nonperformance risk, which includes the credit risk associated with the joint and several liability of other FHLBs. As a result, we did not recognize any instrument-specific credit risk attributable to our consolidated obligations that are carried at fair value. See Note 2 - Summary of Significant Accounting Policies in our 2018 Form 10-K for our fair value policies and Note 16 - Fair Value in our 2018 Form 10-K for our valuation techniques and significant inputs. See Note 9 - Derivatives and Hedging Activities for more information on the Netting and Cash Collateral amounts. Carrying Amount Fair Value Level 1 Level 2 Level 3 Netting & Cash Collateral March 31, 2019 Carried at amortized cost Cash and due from banks $ 25 $ 25 $ 25 $ — $ — Interest bearing deposits 425 425 425 — — Federal Funds sold and securities purchased under agreements to resell 13,620 13,620 — 13,620 — Held-to-maturity debt securities 2,485 2,753 — 2,158 595 Advances 49,145 49,200 — 49,200 — MPF Loans held in portfolio, net 7,576 7,678 — 7,669 9 Other assets 174 174 — 174 — Carried at fair value on a recurring basis Trading debt securities 3,985 3,985 — 3,985 — Government related non-MBS, ABS, and MBS 14,839 14,839 — 14,839 — Private label residential MBS 40 40 — — 40 Available-for-sale debt securities 14,879 14,879 — 14,839 40 Advances - fair value option election 1,631 1,631 — 1,631 — Derivative assets 19 19 — 207 — $ (188 ) Other assets - fair value option election 36 36 — 36 — Carried at fair value on a nonrecurring basis MPF Loans held in portfolio, net 2 2 — — 2 Financial assets 94,002 $ 94,427 $ 450 $ 93,519 $ 646 $ (188 ) Other non financial assets 120 Assets $ 94,122 Carried at amortized cost Deposits $ (561 ) $ (561 ) $ — $ (561 ) $ — Consolidated obligation discount notes (38,641 ) (38,635 ) — (38,635 ) — Consolidated obligation bonds (43,700 ) (43,843 ) — (43,843 ) — Mandatorily redeemable capital stock (315 ) (315 ) (315 ) — — Other liabilities (190 ) (190 ) — (190 ) — Carried at fair value on a recurring basis Consolidated obligation discount notes - fair value option (998 ) (998 ) — (998 ) — Consolidated obligation bonds - fair value option (3,347 ) (3,347 ) — (3,347 ) — Derivative liabilities (16 ) (16 ) — (302 ) — $ 286 Financial liabilities (87,768 ) $ (87,905 ) $ (315 ) $ (87,876 ) $ — $ 286 Other non financial liabilities (1,025 ) Liabilities $ (88,793 ) Carrying Amount Fair Value Level 1 Level 2 Level 3 Netting December 31, 2018 Carried at amortized cost Cash and due from banks $ 28 $ 28 $ 28 $ — $ — Interest bearing deposits 775 775 775 — — Federal Funds sold and securities purchased under agreements to resell 10,604 10,604 — 10,604 — Held-to-maturity debt securities 3,213 3,492 — 2,870 622 Advances 51,603 51,615 — 51,615 — MPF Loans held in portfolio, net 7,096 7,091 — 7,085 6 Other assets 190 190 — 190 — Carried at fair value on a recurring basis Trading debt securities 3,478 3,478 — 3,478 — Government related non-MBS, ABS, and MBS 14,573 14,573 — 14,573 — Private label residential MBS 41 41 — — 41 Available-for-sale debt securities 14,614 14,614 — 14,573 41 Advances - fair value option election 1,025 1,025 — 1,025 — Derivative assets 6 6 — 140 — $ (134 ) Other assets - fair value option election 108 108 — 108 — Carried at fair value on a nonrecurring basis MPF Loans held in portfolio, net 7 7 — — 7 Other assets 1 1 — — 1 Financial assets 92,748 $ 93,034 $ 803 $ 91,688 $ 677 $ (134 ) Other non financial assets 109 Assets $ 92,857 Carried at amortized cost Deposits (551 ) (551 ) — (551 ) — Consolidated obligation discount notes (42,174 ) (42,170 ) — (42,170 ) — Consolidated obligation bonds (39,898 ) (39,895 ) — (39,895 ) — Mandatorily redeemable capital stock (313 ) (313 ) (313 ) — — Other liabilities (153 ) (153 ) — (153 ) — Carried at fair value on a recurring basis Consolidated obligation discount notes - fair value option (992 ) (992 ) — (992 ) — Consolidated obligation bonds - fair value option (2,352 ) (2,352 ) — (2,352 ) — Derivative liabilities (16 ) (16 ) — (321 ) — 305 Financial liabilities (86,449 ) $ (86,442 ) $ (313 ) $ (86,434 ) $ — $ 305 Other non financial liabilities (1,119 ) Liabilities $ (87,568 ) We had no
Fair Value Option, Disclosures [Table Text Block]	The following table presents the changes in fair values of financial assets and liabilities carried at fair value under the fair value option. These changes were recognized in noninterest income - instruments held under the fair value option in our statements of income. Three months ended March 31, 2019 2018 Advances $ 10 $ (9 ) Other assets — (3 ) Consolidated obligation bonds (8 ) 5 Noninterest income - Instruments held under fair value option $ 2 $ (7 ) The following table reflects the difference between the aggregate unpaid principal balance (UPB) outstanding and the aggregate fair value for our long term financial instruments for which the fair value option has been elected. None of the advances were 90 days or more past due and none were on nonaccrual status. March 31, 2019 December 31, 2018 As of Advances Consolidated Obligation Bonds Advances Consolidated Obligation Bonds Unpaid principal balance $ 1,631 $ 3,340 $ 1,037 $ 2,358 Fair value over (under) UPB — 7 (12 ) (6 ) Fair value $ 1,631 $ 3,347 $ 1,025 $ 2,352

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Off-Balance Sheet Commitments [Table Text Block]	The following table shows our commitments outstanding, which represent off-balance sheet obligations. March 31, 2019 December 31, 2018 As of Expire within one year Expire after one year Total Expire within one year Expire after one year Total Unsettled consolidated obligation bonds $ 325 $ — $ 325 $ 114 $ — $ 114 Member standby letters of credit 17,342 6,068 a 23,410 19,971 4,335 a 24,306 Housing authority standby bond purchase agreements 211 244 455 84 289 373 Advance commitments 14 24 38 267 7 274 MPF delivery commitments 375 — 375 336 — 336 Other 1 — 1 3 — 3 Commitments $ 18,268 $ 6,336 $ 24,604 $ 20,775 $ 4,631 $ 25,406 a Contains $2.0 billion and $1.7 billion of member standby letters of credit as of March 31, 2019 , and December 31, 2018 , which were renewable annually. For a description of defined terms see Note 17 - Commitments and Contingencies to the financial statements in our 2018

Transactions with Related Par_2

Transactions with Related Parties and Other FHLBs (Tables)	3 Months Ended
Transactions with Related Parties and Other FHLBs (Tables)	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions, by Balance Sheet Grouping [Table Text Block]	The following table summarizes material balances we had with our members who are related parties as defined above (including their affiliates) as of the periods presented. The related impacts to our Statements of Income were no t material. As of March 31, 2019 December 31, 2018 Assets - Advances $ 625 $ 665 Liabilities - Deposits 7 6 Equity - Capital Stock 27 27

Summary of Significant Accoun_3

Summary of Significant Accounting Policies Narrative (Details) $ in Millions	Jan. 01, 2019USD ($)
Accounting Standards Update 2017-12 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption	$ 16
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption	0
Operating Lease, Right-of-Use Asset	11
Operating Lease, Liability	$ 11

Interest Income and Interest _3

Interest Income and Interest Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Interest income -
Trading	$ 17	$ 6
Available-for-sale interest income	124	104
Available-for-sale prepayment fees	1	7
Available-for-sale	125	111
Held-to-maturity	38	46
Investment debt securities	180	163
Advances	358	214
MPF Loans held in portfolio	76	55
Federal funds sold and securities purchased under agreements to resell	67	44
Other	5	4
Interest income	686	480
Consolidated obligations -
Discount notes	281	183
Bonds	279	169
Other	8	4
Interest expense	568	356
Net interest income	$ 118	$ 124

Investment Debt Securities (Tra

Investment Debt Securities (Trading debt scurities) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Debt and Equity Securities, FV-NI [Line Items]
Trading debt securities	$ 3,985		$ 3,478
Net unrealized gains (losses) on securities held at period end	(3)	$ 0
Net realized gains (losses) on securities sold/matured during the period	11	0
Net gains (losses) on trading debt securities	8	$ 0
U.S. Government & other government related
Debt and Equity Securities, FV-NI [Line Items]
Trading debt securities	3,967		3,460
Residential MBS \| GSE
Debt and Equity Securities, FV-NI [Line Items]
Trading debt securities	17		17
Residential MBS \| Government guaranteed
Debt and Equity Securities, FV-NI [Line Items]
Trading debt securities	$ 1		$ 1

Investment Debt Securities (Ava

Investment Debt Securities (Available-for-sale debt securities) (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	$ 14,670	$ 14,403
Gross Unrealized Gains in AOCI	245	259
Gross Unrealized (Losses) in AOCI	(36)	(48)
Carrying Amount and Fair Value	14,879	14,614
U.S. Government & other government related
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	641	528
Gross Unrealized Gains in AOCI	20	15
Gross Unrealized (Losses) in AOCI	(2)	0
Carrying Amount and Fair Value	659	543
State or local housing agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	15	17
Gross Unrealized Gains in AOCI	0	0
Gross Unrealized (Losses) in AOCI	0	0
Carrying Amount and Fair Value	15	17
FFELP ABS \| FFELP ABS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	3,486	3,578
Gross Unrealized Gains in AOCI	183	203
Gross Unrealized (Losses) in AOCI	0	0
Carrying Amount and Fair Value	3,669	3,781
Residential MBS \| GSE
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	9,922	9,602
Gross Unrealized Gains in AOCI	22	20
Gross Unrealized (Losses) in AOCI	(34)	(48)
Carrying Amount and Fair Value	9,910	9,574
Residential MBS \| Government guaranteed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	574	645
Gross Unrealized Gains in AOCI	12	13
Gross Unrealized (Losses) in AOCI	0	0
Carrying Amount and Fair Value	586	658
Residential MBS \| Private label
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	32	33
Gross Unrealized Gains in AOCI	8	8
Gross Unrealized (Losses) in AOCI	0	0
Carrying Amount and Fair Value	$ 40	$ 41

Investment Debt Securities (Hel

Investment Debt Securities (Held-to-maturities debt securities) (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost Basis	$ 2,593	$ 3,327
Non-credit OTTI Recognized in AOCI (Loss)	(108)	(114)
Carrying Amount	2,485	3,213
Gross Unrecognized Holding Gains	268	280
Gross Unrecognized Holding (Losses)	0	(1)
Fair Value	2,753	3,492
U.S. Government & other government related
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost Basis	707	1,305
Non-credit OTTI Recognized in AOCI (Loss)	0	0
Carrying Amount	707	1,305
Gross Unrecognized Holding Gains	11	18
Gross Unrecognized Holding (Losses)	0	(1)
Fair Value	718	1,322
State or local housing agency
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost Basis	6	6
Non-credit OTTI Recognized in AOCI (Loss)	0	0
Carrying Amount	6	6
Gross Unrecognized Holding Gains	0	0
Gross Unrecognized Holding (Losses)	0	0
Fair Value	6	6
Residential MBS \| GSE
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost Basis	1,085	1,141
Non-credit OTTI Recognized in AOCI (Loss)	0	0
Carrying Amount	1,085	1,141
Gross Unrecognized Holding Gains	33	30
Gross Unrecognized Holding (Losses)	0	0
Fair Value	1,118	1,171
Residential MBS \| Government guaranteed
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost Basis	314	369
Non-credit OTTI Recognized in AOCI (Loss)	0	0
Carrying Amount	314	369
Gross Unrecognized Holding Gains	2	2
Gross Unrecognized Holding (Losses)	0	0
Fair Value	316	371
Residential MBS \| Private label
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost Basis	481	506
Non-credit OTTI Recognized in AOCI (Loss)	(108)	(114)
Carrying Amount	373	392
Gross Unrecognized Holding Gains	222	230
Gross Unrecognized Holding (Losses)	0	0
Fair Value	$ 595	$ 622

Investment Debt Securities Cont

Investment Debt Securities Contractual maturities (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale, Maturity, Fair Value, Rolling Maturity [Abstract]
Due in one year or less	$ 0
Due after one year through five years	3
Due after five years through ten years	241
Due after ten years	430
ABS and MBS without a single maturity date	14,205
Carrying Amount and Fair Value	14,879	$ 14,614
Debt Securities, Held-to-maturity, Maturity, Amortized Cost, Rolling Maturity [Abstract]
Due in one year or less	90
Due after one year through five years	77
Due after five years through ten years	83
Due after ten years	463
ABS and MBS without a single maturity date	1,772
Carrying Amount	2,485	3,213
Debt Securities, Held-to-maturity, Maturity, Fair Value, Rolling Maturity [Abstract]
Due in one year or less	90
Due after one year through five years	78
Due after five years through ten years	84
Due after ten years	472
ABS and MBS without a single maturity date	2,029
Fair Value	$ 2,753	$ 3,492

Investment Debt Securities Agin

Investment Debt Securities Aging of unrealized temporary losses (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Available-for-sale debt securities
Available-for-sale debt securities
Less than 12 Months, Fair Value	$ 6,156	$ 5,605
Less than 12 Months, Gross Unrealized (Losses)	(34)	(46)
12 Months or More, Fair Value	11	59
12 Months or More, Gross Unrealized (Losses)	(2)	(2)
Total, Fair Value	6,167	5,664
Total, Gross Unrealized (Losses)	(36)	(48)
Available-for-sale debt securities \| U.S. Government & other government related
Available-for-sale debt securities
Less than 12 Months, Fair Value	27	0
Less than 12 Months, Gross Unrealized (Losses)	0	0
12 Months or More, Fair Value	3	3
12 Months or More, Gross Unrealized (Losses)	(2)	0
Total, Fair Value	30	3
Total, Gross Unrealized (Losses)	(2)	0
Available-for-sale debt securities \| State or local housing agency
Available-for-sale debt securities
Less than 12 Months, Fair Value	0	1
Less than 12 Months, Gross Unrealized (Losses)	0	0
12 Months or More, Fair Value	3	3
12 Months or More, Gross Unrealized (Losses)	0	0
Total, Fair Value	3	4
Total, Gross Unrealized (Losses)	0	0
Available-for-sale debt securities \| FFELP ABS \| FFELP ABS
Available-for-sale debt securities
Less than 12 Months, Fair Value	563
Less than 12 Months, Gross Unrealized (Losses)	0
12 Months or More, Fair Value	0
12 Months or More, Gross Unrealized (Losses)	0
Total, Fair Value	563
Total, Gross Unrealized (Losses)	0
Available-for-sale debt securities \| Residential MBS \| GSE
Available-for-sale debt securities
Less than 12 Months, Fair Value	5,562	5,573
Less than 12 Months, Gross Unrealized (Losses)	(34)	(46)
12 Months or More, Fair Value	0	48
12 Months or More, Gross Unrealized (Losses)	0	(2)
Total, Fair Value	5,562	5,621
Total, Gross Unrealized (Losses)	(34)	(48)
Available-for-sale debt securities \| Residential MBS \| Government guaranteed
Available-for-sale debt securities
Less than 12 Months, Fair Value	4	31
Less than 12 Months, Gross Unrealized (Losses)	0	0
12 Months or More, Fair Value	0	0
12 Months or More, Gross Unrealized (Losses)	0	0
Total, Fair Value	4	31
Total, Gross Unrealized (Losses)	0	0
Available-for-sale debt securities \| Residential MBS \| Private label
Available-for-sale debt securities
Less than 12 Months, Fair Value	0	0
Less than 12 Months, Gross Unrealized (Losses)	0	0
12 Months or More, Fair Value	5	5
12 Months or More, Gross Unrealized (Losses)	0	0
Total, Fair Value	5	5
Total, Gross Unrealized (Losses)	0	0
Held-to-maturity debt securities
Held-to-maturity debt securities
Less than 12 Months, Fair Value	114	629
Less than 12 Months, Gross Unrealized (Losses)	0	0
12 Months or More, Fair Value	643	617
12 Months or More, Gross Unrealized (Losses)	(108)	(115)
Total, Fair Value	757	1,246
Total, Gross Unrealized (Losses)	(108)	(115)
Held-to-maturity debt securities \| U.S. Government & other government related
Held-to-maturity debt securities
Less than 12 Months, Fair Value	4	459
Less than 12 Months, Gross Unrealized (Losses)	0	0
12 Months or More, Fair Value	15	23
12 Months or More, Gross Unrealized (Losses)	0	(1)
Total, Fair Value	19	482
Total, Gross Unrealized (Losses)	0	(1)
Held-to-maturity debt securities \| State or local housing agency
Held-to-maturity debt securities
Less than 12 Months, Fair Value		0
Less than 12 Months, Gross Unrealized (Losses)		0
12 Months or More, Fair Value		2
12 Months or More, Gross Unrealized (Losses)		0
Total, Fair Value		2
Total, Gross Unrealized (Losses)		0
Held-to-maturity debt securities \| Residential MBS \| Government guaranteed
Held-to-maturity debt securities
Less than 12 Months, Fair Value	110	170
Less than 12 Months, Gross Unrealized (Losses)	0	0
12 Months or More, Fair Value	61	0
12 Months or More, Gross Unrealized (Losses)	0	0
Total, Fair Value	171	170
Total, Gross Unrealized (Losses)	0	0
Held-to-maturity debt securities \| Residential MBS \| Private label
Held-to-maturity debt securities
Less than 12 Months, Fair Value	0	0
Less than 12 Months, Gross Unrealized (Losses)	0	0
12 Months or More, Fair Value	567	592
12 Months or More, Gross Unrealized (Losses)	(108)	(114)
Total, Fair Value	567	592
Total, Gross Unrealized (Losses)	$ (108)	$ (114)

Investment Debt Securities (Sig

Investment Debt Securities (Significant Inputs Used to Determine OTTI) (Details)	Mar. 31, 2019
Minimum
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Assumed Home Price Change Rate all markets over 12 months	(6.00%)
Projected House Price Change Rate majority of markets over 12 months	2.00%
Maximum
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Assumed Home Price Change Rate all markets over 12 months	14.00%
Projected House Price Change Rate majority of markets over 12 months	6.00%

Investment Debt Securities (OTT

Investment Debt Securities (OTTI rollforward) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Beginning Balance	$ 442	$ 477
Reductions:
Increases in cash flows expected to be collected and recognized into interest income	(7)	(9)
Ending Balance	$ 435	$ 468

Advances By redemption terms (D

Advances By redemption terms (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Federal Home Loan Bank, Advances, Maturity, Rolling Year, Par Value Amount [Abstract]
Due in one year or less	$ 19,127
One to two years	3,112
Two to three years	2,352
Three to four years	4,233
Four to five years	9,074
More than five years	12,730
Par value	$ 50,628	$ 52,606
Federal Home Loan Bank, Advances, Weighted Average Contractual Interest Rate, Rolling Year [Abstract]
Due in one year or less	2.48%
One to two years	2.27%
Two to three years	2.56%
Three to four years	2.65%
Four to five years	2.65%
More than five years	2.53%
Par value	2.52%

Advances Reconciliation of par

Advances Reconciliation of par values to carrying values (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Federal Home Loan Banks [Abstract]
Par value	$ 50,628	$ 52,606
Fair value hedging adjustments	145	30
Other adjustments	3	(8)
Advances	$ 50,776	$ 52,628

Advances By counterparty concen

Advances By counterparty concentration (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Par value		$ 50,628	$ 52,606
Credit Concentration Risk \| One Mortgage Partners Corp. [Member]
Concentration Risk [Line Items]
Par value	[1]	$ 11,000
% of Total Outstanding		21.70%
Credit Concentration Risk \| The Northern Trust Company [Member]
Concentration Risk [Line Items]
Par value		$ 7,700
% of Total Outstanding		15.20%

[1]	One Mortgage Partners Corp. is a subsidiary of JPMorgan Chase Bank NA.

MPF Loans Held in Portfolio (De

MPF Loans Held in Portfolio (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	$ 7,457	$ 6,996
Net premiums, credit enhancement, and/or deferred loan fees	114	100
Fair value and economic hedging adjustments	8	8
MPF Loans held in portfolio, before allowance for credit losses	7,579	7,104
Allowance for credit losses on MPF Loans	(1)	(1)
MPF Loans held in portfolio, net	7,578	7,103
Medium term (15 years or less)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	348	334
Long term (greater than 15 years)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	7,109	6,662
Conventional mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	6,537	6,062
Government Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	$ 920	$ 934

Allowance for Credit Losses Rec

Allowance for Credit Losses Recorded Investment and Allowance on Conventional MPF Loans Held in Portfolio (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment	$ 7,622	$ 7,142
Conventional mortgage loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	31	33
Collectively evaluated for impairment	6,652	6,155
Recorded investment	6,683	6,188
Allowance for credit losses - Collectively evaluated for impairment	$ 1	$ 1

Allowance for Credit Losses Cre

Allowance for Credit Losses Credit Quality Indicators - MPF Loans Held in Portfolio (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	$ 184	$ 182
Current	7,438	6,960
Recorded investment	7,622	7,142
In process of foreclosure	$ 16	$ 19
Serious delinquency rate	0.63%	0.70%
Past due 90 days or more and still accruing interest	$ 22	$ 24
Impaired loans without an allowance for credit losses and on nonaccrual status	31	33
Unpaid principal balance of impaired loans without an allowance for credit losses	33	36
Past due 30-59 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	108	101
Past due 60-89 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	29	31
Past due 90 days or more
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	47	50
Conventional
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	117	107
Current	6,566	6,081
Recorded investment	6,683	6,188
In process of foreclosure	$ 11	$ 13
Serious delinquency rate	0.46%	0.51%
Past due 90 days or more and still accruing interest	$ 5	$ 5
Impaired loans without an allowance for credit losses and on nonaccrual status	31	33
Unpaid principal balance of impaired loans without an allowance for credit losses	33	36
Conventional \| Past due 30-59 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	70	59
Conventional \| Past due 60-89 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	17	17
Conventional \| Past due 90 days or more
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	30	31
Government
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	67	75
Current	872	879
Recorded investment	939	954
In process of foreclosure	$ 5	$ 6
Serious delinquency rate	1.85%	1.95%
Past due 90 days or more and still accruing interest	$ 17	$ 19
Government \| Past due 30-59 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	38	42
Government \| Past due 60-89 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	12	14
Government \| Past due 90 days or more
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	$ 17	$ 19

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Narrative) (Details) $ in Millions	Mar. 31, 2019USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Additional collateral due to derivatives counterparties if credit rating was lowered one level	$ 0
Financial Instruments Owned and Pledged as Collateral, Amount Eligible to be Repledged by Counterparty	$ 339

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities Derivatives in statements of condition (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Notional Amount	$ 59,878	$ 55,971
Derivative assets netting adjustments and cash collateral	(188)	(134)
Derivative liabilities netting adjustments and cash collateral	(286)	(305)
Derivative assets on statements of condition	19	6
Derivative liabilities on statements of condition	16	16
Cash collateral posted and related accrued interest	148	203
Cash collateral received and related accrued interest	50	32
Derivatives in hedge accounting relationships- \| Interest rate contracts
Derivatives, Fair Value [Line Items]
Notional Amount	35,781	35,549
Derivatives not in hedge accounting relationships-
Derivatives, Fair Value [Line Items]
Notional Amount	24,097	20,422
Derivatives not in hedge accounting relationships- \| Interest rate contracts
Derivatives, Fair Value [Line Items]
Notional Amount	23,496	19,803
Derivatives not in hedge accounting relationships- \| Other
Derivatives, Fair Value [Line Items]
Notional Amount	601	619
Derivative Assets
Derivatives, Fair Value [Line Items]
Gross derivative amount before netting adjustments and cash collateral	207	140
Derivative assets netting adjustments and cash collateral	(188)	(134)
Derivative assets on statements of condition	19	6
Derivative Assets \| Derivatives in hedge accounting relationships- \| Interest rate contracts
Derivatives, Fair Value [Line Items]
Gross derivative amount before netting adjustments and cash collateral	53	39
Derivative Assets \| Derivatives not in hedge accounting relationships-
Derivatives, Fair Value [Line Items]
Gross derivative amount before netting adjustments and cash collateral	154	101
Derivative Assets \| Derivatives not in hedge accounting relationships- \| Interest rate contracts
Derivatives, Fair Value [Line Items]
Gross derivative amount before netting adjustments and cash collateral	152	100
Derivative Assets \| Derivatives not in hedge accounting relationships- \| Other
Derivatives, Fair Value [Line Items]
Gross derivative amount before netting adjustments and cash collateral	2	1
Derivative Liabilities
Derivatives, Fair Value [Line Items]
Gross derivative amount before netting adjustments and cash collateral	302	321
Derivative liabilities netting adjustments and cash collateral	(286)	(305)
Derivative liabilities on statements of condition	16	16
Derivative Liabilities \| Derivatives in hedge accounting relationships- \| Interest rate contracts
Derivatives, Fair Value [Line Items]
Gross derivative amount before netting adjustments and cash collateral	224	261
Derivative Liabilities \| Derivatives not in hedge accounting relationships-
Derivatives, Fair Value [Line Items]
Gross derivative amount before netting adjustments and cash collateral	78	60
Derivative Liabilities \| Derivatives not in hedge accounting relationships- \| Interest rate contracts
Derivatives, Fair Value [Line Items]
Gross derivative amount before netting adjustments and cash collateral	77	59
Derivative Liabilities \| Derivatives not in hedge accounting relationships- \| Other
Derivatives, Fair Value [Line Items]
Gross derivative amount before netting adjustments and cash collateral	$ 1	$ 1

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities Derivatives in statement of income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Economic hedges	$ (3)	$ (6)
Variation margin on daily settled cleared derivatives	1	0
Noninterest income on derivatives and hedging activities	(2)	(3)
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Fair value hedges - interest rate contracts		2
Cash flow hedges - interest rate contracts		1
Economic hedges	(5)	(7)
Other
Derivative Instruments, Gain (Loss) [Line Items]
Economic hedges	$ 2	$ 1

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities Derivative assets with legal right of offset (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Derivative assets with legal right of offset -
Gross recognized amount	$ 205	$ 139
Derivative assets netting adjustments and cash collateral	(188)	(134)
Derivatives with legal right of offset - net	17	5
Derivatives without legal right of offset	2	1
Derivative assets on statements of condition	19	6
Less:
Noncash collateral received or pledged and cannot be sold or repledged	0	0
Net amount	19	6
Bilateral
Derivative assets with legal right of offset -
Gross recognized amount	135	107
Derivative assets netting adjustments and cash collateral	(130)	(102)
Derivatives with legal right of offset - net	5	5
Derivatives without legal right of offset	2	1
Derivative assets on statements of condition	7	6
Less:
Noncash collateral received or pledged and cannot be sold or repledged	0	0
Net amount	7	6
Cleared
Derivative assets with legal right of offset -
Gross recognized amount	70	32
Derivative assets netting adjustments and cash collateral	(58)	(32)
Derivatives with legal right of offset - net	12	0
Derivatives without legal right of offset	0	0
Derivative assets on statements of condition	12	0
Less:
Noncash collateral received or pledged and cannot be sold or repledged	0	0
Net amount	$ 12	$ 0

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities Derivative liabilities with legal right of offset (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Derivative liabilities with legal right of offset -
Gross recognized amount	$ 301	$ 320
Derivative liabilities netting adjustments and cash collateral	(286)	(305)
Derivatives with legal right of offset - net	15	15
Derivatives without legal right of offset	1	1
Derivative liabilities on statements of condition	16	16
Less:
Noncash collateral received or pledged and cannot be sold or repledged	7	9
Net amount	9	7
Credit exposure on overcollateralized pledged securities exceeding derivative position	332	260
Bilateral
Derivative liabilities with legal right of offset -
Gross recognized amount	236	279
Derivative liabilities netting adjustments and cash collateral	(228)	(273)
Derivatives with legal right of offset - net	8	6
Derivatives without legal right of offset	1	1
Derivative liabilities on statements of condition	9	7
Less:
Noncash collateral received or pledged and cannot be sold or repledged	0	0
Net amount	9	7
Cleared
Derivative liabilities with legal right of offset -
Gross recognized amount	65	41
Derivative liabilities netting adjustments and cash collateral	(58)	(32)
Derivatives with legal right of offset - net	7	9
Derivatives without legal right of offset	0	0
Derivative liabilities on statements of condition	7	9
Less:
Noncash collateral received or pledged and cannot be sold or repledged	7	9
Net amount	$ 0	$ 0

Derivatives and Hedging Activ_8

Derivatives and Hedging Activities (Fair Value Hedges) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Amount Recorded in Net Interest Income	$ 118	$ 124
Fair value hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative	(194)	(3)
Gain (Loss) on Hedged Item	171	5
Amount Recorded in Derivatives and Hedging Activities		2
Amount Recorded in Net Interest Income	(23)	(23)
Fair value hedges \| Available-for-sale debt securities
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative	(204)	37
Gain (Loss) on Hedged Item	193	(37)
Amount Recorded in Derivatives and Hedging Activities		0
Amount Recorded in Net Interest Income	(11)	(18)
Fair value hedges \| Advances
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative	(94)	84
Gain (Loss) on Hedged Item	106	(82)
Amount Recorded in Derivatives and Hedging Activities		2
Amount Recorded in Net Interest Income	12	(2)
Fair value hedges \| MPF Loans held for portfolio
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative		0
Gain (Loss) on Hedged Item		0
Amount Recorded in Derivatives and Hedging Activities		0
Amount Recorded in Net Interest Income		(1)
Fair value hedges \| Consolidated obligation bonds
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative	104	(124)
Gain (Loss) on Hedged Item	(128)	124
Amount Recorded in Derivatives and Hedging Activities		0
Amount Recorded in Net Interest Income	$ (24)	$ (2)

Derivatives and Hedging Activ_9

Derivatives and Hedging Activities Cumulative Basis Adjustments for Fair Value Hedges (Details) - Fair value hedges $ in Millions	Mar. 31, 2019USD ($)
Advances
Derivative [Line Items]
Amortized cost of hedged asset/(liability)	$ 9,109
Basis adjustments for active hedging relationships included in amortized cost	146
Basis adjustments for discontinued hedging relationships included in amortized cost	0
Cumulative amount of fair value hedging basis adjustments	146
Available-for-sale debt securities
Derivative [Line Items]
Amortized cost of hedged asset/(liability)	8,442
Basis adjustments for active hedging relationships included in amortized cost	341
Basis adjustments for discontinued hedging relationships included in amortized cost	1
Cumulative amount of fair value hedging basis adjustments	342
Consolidated obligation bonds
Derivative [Line Items]
Amortized cost of hedged asset/(liability)	(18,113)
Basis adjustments for active hedging relationships included in amortized cost	62
Basis adjustments for discontinued hedging relationships included in amortized cost	36
Cumulative amount of fair value hedging basis adjustments	98
MPF Loans held for portfolio
Derivative [Line Items]
Amortized cost of hedged asset/(liability)	744
Basis adjustments for active hedging relationships included in amortized cost	0
Basis adjustments for discontinued hedging relationships included in amortized cost	14
Cumulative amount of fair value hedging basis adjustments	$ 14

Derivatives and Hedging Acti_10

Derivatives and Hedging Activities (Cash Flow Hedges) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Maximum Hedging Period For Forecasted Cash Flows	10 years
Cash Flow Hedge Gain (Loss) to be Reclassified Next 12 Months, Net	$ 5
Amount Recorded in Net Interest Income	118	$ 124
Cash flow hedges \| Discount notes
Derivative Instruments, Gain (Loss) [Line Items]
Gross Amount Initially Recognized in AOCI	(13)
Amount Reclassified from AOCI into Net Interest Income	$ (11)
Ineffectiveness Recorded in Derivatives and Hedging Activities		1
Effective Portion Recorded in AOCI		59
Amount Recorded in Net Interest Income		$ (35)

Consolidated Obligations (Short

Consolidated Obligations (Short term discount notes) (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Carrying Amount	$ 39,639	$ 43,166
Weighted Average Interest Rate	2.39%	2.28%

Consolidated Obligations (Long

Consolidated Obligations (Long term bonds by maturity date) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Contractual Maturity
Due in one year or less	$ 22,304
One to two years	6,128
Two to three years	6,955
Three to four years	4,392
Four to five years	2,400
Thereafter	4,964
Total par value	$ 47,143	$ 42,486
Weighted Average Interest Rate
Due in one year or less	2.21%
One to two years	2.08%
Two to three years	2.39%
Three to four years	2.67%
Four to five years	2.89%
Thereafter	3.23%
Total par value	2.41%
By Maturity or Next Call Date
Contractual Maturity
Due in one year or less	$ 35,880
One to two years	5,075
Two to three years	2,925
Three to four years	1,903
Four to five years	820
Thereafter	540
Total par value	$ 47,143
Minimum
Extinguishment of Debt [Line Items]
Debt Instrument, Term	1 year
Maximum
Extinguishment of Debt [Line Items]
Debt Instrument, Term	20 years

Consolidated Obligations (Bonds

Consolidated Obligations (Bonds by callable feature) (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Par value	$ 47,143	$ 42,486
Fair value hedging adjustments	(99)	(227)
Other adjustments	3	(9)
Consolidated obligation bonds	47,047	42,250
Noncallable
Debt Instrument [Line Items]
Par value	30,154	27,999
Callable
Debt Instrument [Line Items]
Par value	$ 16,989	$ 14,487

Consolidated Obligations (Syste

Consolidated Obligations (Systemwide joint & several liability) (Details) - Guarantee of Indebtedness of Others [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Obligation with Joint and Several Liability Arrangement [Line Items]
FHLB System total consolidated obligations	$ 1,010,895		$ 1,031,617
FHLB Chicago as primary obligor	$ 86,917		85,766
As a percent of the FHLB System	9.00%	8.00%
Consolidated obligation bonds
Obligation with Joint and Several Liability Arrangement [Line Items]
FHLB System total consolidated obligations	$ 602,523		604,250
FHLB Chicago as primary obligor	$ 47,143		42,486
As a percent of the FHLB System	8.00%	7.00%
Discount notes
Obligation with Joint and Several Liability Arrangement [Line Items]
FHLB System total consolidated obligations	$ 408,372		427,367
FHLB Chicago as primary obligor	$ 39,774		$ 43,280
As a percent of the FHLB System	10.00%	10.00%

Capital and Mandatorily Redee_3

Capital and Mandatorily Redeemable Capital Stock (MRCS) (Capital rules) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Federal Home Loan Banks [Abstract]
par value per share	$ 100	$ 100
Capital Stock, Redemption, Period of Written Notice	5 years

Capital and Mandatorily Redee_4

Capital and Mandatorily Redeemable Capital Stock (MRCS) (Regulatory capital requirements) (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Federal Home Loan Banks [Abstract]
Total Regulatory Capital, Requirement	$ 3,765	$ 3,714
Total Regulatory Capital, Actual	$ 5,583	$ 5,547
Total Regulatory Capital Ratio, Requirement	4.00%	4.00%
Total Regulatory Capital Ratio, Actual	5.93%	5.97%
Leverage Capital, Requirement	$ 4,706	$ 4,643
Leverage Capital, Actual	$ 8,375	$ 8,321
Leverage Capital Ratio, Requirement	5.00%	5.00%
Leverage Capital Ratio, Actual	8.90%	8.96%
Risk Based Capital, Requirement	$ 1,084	$ 1,111
Risk Based Capital, Actual	$ 5,583	$ 5,547

Capital and Mandatorily Redee_5

Capital and Mandatorily Redeemable Capital Stock (MRCS) Stockholder Concentration (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Amount of Which is Classified as a Liability (MRCS)		$ 315	$ 313
Stockholders' Equity, Total [Member] \| The Northern Trust Company [Member]
Concentration Risk [Line Items]
Regulatory Capital Stock Outstanding		$ 247
% of Total Outstanding		12.50%
Amount of Which is Classified as a Liability (MRCS)		$ 0
Stockholders' Equity, Total [Member] \| One Mortgage Partners Corp. [Member]
Concentration Risk [Line Items]
Regulatory Capital Stock Outstanding	[1]	$ 245
% of Total Outstanding		12.40%
Amount of Which is Classified as a Liability (MRCS)		$ 245
Stockholders' Equity, Total [Member] \| BMO Harris Bank, N.A. [Member]
Concentration Risk [Line Items]
Regulatory Capital Stock Outstanding		$ 224
% of Total Outstanding		11.30%
Amount of Which is Classified as a Liability (MRCS)		$ 0

[1]	One Mortgage Partners Corp. is a subsidiary of JPMorgan Chase Bank NA.

Capital and Mandatorily Redee_6

Capital and Mandatorily Redeemable Capital Stock (MRCS) Dividends (Details) - USD ($) $ in Millions	May 15, 2019	Apr. 23, 2019	Mar. 31, 2019	Mar. 31, 2018
Subsequent Event [Line Items]
Payments of Ordinary Dividends, Common Stock			$ 21	$ 13
Capital Stock - Putable - B1 Activity
Subsequent Event [Line Items]
Common Stock Dividend - Annualized Rate			5.00%	3.50%
Capital Stock - Putable - B2 Membership
Subsequent Event [Line Items]
Common Stock Dividend - Annualized Rate			2.00%	1.50%
Subsequent Event [Member]
Subsequent Event [Line Items]
Payments of Ordinary Dividends, Common Stock	$ 24
Subsequent Event [Member] \| Capital Stock - Putable - B1 Activity
Subsequent Event [Line Items]
Common Stock Dividend - Annualized Rate		5.00%
Subsequent Event [Member] \| Capital Stock - Putable - B2 Membership
Subsequent Event [Line Items]
Common Stock Dividend - Annualized Rate		2.25%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 55
Amounts reclassified in period to statements of income:
Ending balance	61
AOCI
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	55	$ 112
Change in the period recorded to the statements of condition, before reclassifications to statements of income	(5)	15
Amounts reclassified in period to statements of income:
Net interest income	11
Noninterest income on derivatives and hedging activities		(1)
Ending balance	61	126
Net Unrealized - \| Available-for-sale Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	211	407
Change in the period recorded to the statements of condition, before reclassifications to statements of income	(2)	(49)
Amounts reclassified in period to statements of income:
Net interest income	0
Noninterest income on derivatives and hedging activities		0
Ending balance	209	358
Non-credit OTTI - \| Held-to-maturity Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(114)	(143)
Change in the period recorded to the statements of condition, before reclassifications to statements of income	6	7
Amounts reclassified in period to statements of income:
Net interest income	0
Noninterest income on derivatives and hedging activities		0
Ending balance	(108)	(136)
Net Unrealized - Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(31)	(147)
Change in the period recorded to the statements of condition, before reclassifications to statements of income	(13)	59
Amounts reclassified in period to statements of income:
Net interest income	11
Noninterest income on derivatives and hedging activities		(1)
Ending balance	(33)	(89)
Post-Retirement Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(11)	(5)
Change in the period recorded to the statements of condition, before reclassifications to statements of income	4	(2)
Amounts reclassified in period to statements of income:
Net interest income	0
Noninterest income on derivatives and hedging activities		0
Ending balance	$ (7)	$ (7)

Fair Value Fair Value Estimates

Fair Value Fair Value Estimates (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading debt securities	$ 3,985	$ 3,478
Available-for-sale	14,879	14,614
Held-to-maturity debt securities	2,753	3,492
Advances	1,631	1,025
Derivative assets	19	6
Other assets	36	108
Derivative assets netting and cash collateral	(188)	(134)
Assets	94,122	92,857
Consolidated obligation discount notes	(998)	(992)
Consolidated obligation bonds	(3,347)	(2,352)
Derivative liabilities	(16)	(16)
Derivative liabilities netting and cash collateral	286	305
Liabilities	(88,793)	(87,568)
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks	25	28
Interest bearing deposits	425	775
Federal Funds sold and securities purchased under agreements to resell	13,620	10,604
Held-to-maturity debt securities	2,485	3,213
Advances	49,145	51,603
MPF Loans held in portfolio, net	7,576	7,096
Other assets	174	190
Financial assets	94,002	92,748
Other non financial assets	120	109
Assets	94,122	92,857
Deposits	(561)	(551)
Consolidated obligation discount notes	(38,641)	(42,174)
Consolidated obligation bonds	(43,700)	(39,898)
Mandatorily redeemable capital stock	(315)	(313)
Other liabilities	(190)	(153)
Financial liabilities	(87,768)	(86,449)
Other non financial liabilities	(1,025)	(1,119)
Liabilities	(88,793)	(87,568)
Carrying Amount \| Carried at fair value on a recurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading debt securities	3,985	3,478
Available-for-sale	14,879	14,614
Advances	1,631	1,025
Derivative assets	19	6
Other assets	36	108
Consolidated obligation discount notes	(998)	(992)
Consolidated obligation bonds	(3,347)	(2,352)
Derivative liabilities	(16)	(16)
Carrying Amount \| Carried at fair value on a recurring basis \| Government related non-MBS, ABS, and MBS
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale	14,839	14,573
Carrying Amount \| Carried at fair value on a recurring basis \| Residential MBS \| Private label residential MBS
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale	40	41
Carrying Amount \| Carried at fair value on a nonrecurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
MPF Loans held in portfolio, net	2	7
Other assets		1
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks	25	28
Interest bearing deposits	425	775
Federal Funds sold and securities purchased under agreements to resell	13,620	10,604
Held-to-maturity debt securities	2,753	3,492
Advances	49,200	51,615
MPF Loans held in portfolio, net	7,678	7,091
Other assets	174	190
Financial assets	94,427	93,034
Deposits	(561)	(551)
Consolidated obligation discount notes	(38,635)	(42,170)
Consolidated obligation bonds	(43,843)	(39,895)
Mandatorily redeemable capital stock	(315)	(313)
Other liabilities	(190)	(153)
Financial liabilities	(87,905)	(86,442)
Fair Value \| Carried at fair value on a recurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading debt securities	3,985	3,478
Available-for-sale	14,879	14,614
Advances	1,631	1,025
Derivative assets	19	6
Other assets	36	108
Consolidated obligation discount notes	(998)	(992)
Consolidated obligation bonds	(3,347)	(2,352)
Derivative liabilities	(16)	(16)
Fair Value \| Carried at fair value on a recurring basis \| Government related non-MBS, ABS, and MBS
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale	14,839	14,573
Fair Value \| Carried at fair value on a recurring basis \| Residential MBS \| Private label residential MBS
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale	40	41
Fair Value \| Carried at fair value on a nonrecurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
MPF Loans held in portfolio, net	2	7
Other assets		1
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks	25	28
Interest bearing deposits	425	775
Federal Funds sold and securities purchased under agreements to resell	0	0
Held-to-maturity debt securities	0	0
Advances	0	0
MPF Loans held in portfolio, net	0	0
Other assets	0	0
Financial assets	450	803
Deposits	0	0
Consolidated obligation discount notes	0	0
Consolidated obligation bonds	0	0
Mandatorily redeemable capital stock	(315)	(313)
Other liabilities	0	0
Financial liabilities	(315)	(313)
Level 1 \| Carried at fair value on a recurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading debt securities	0	0
Available-for-sale	0	0
Advances	0	0
Derivative assets	0	0
Other assets	0	0
Consolidated obligation discount notes	0	0
Consolidated obligation bonds	0	0
Derivative liabilities	0	0
Level 1 \| Carried at fair value on a recurring basis \| Government related non-MBS, ABS, and MBS
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale	0	0
Level 1 \| Carried at fair value on a recurring basis \| Residential MBS \| Private label residential MBS
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale	0	0
Level 1 \| Carried at fair value on a nonrecurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
MPF Loans held in portfolio, net	0	0
Other assets		0
Level 2
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 and securities purchased under agreements to resell	13,620	10,604
Held-to-maturity debt securities	2,158	2,870
Advances	49,200	51,615
MPF Loans held in portfolio, net	7,669	7,085
Other assets	174	190
Financial assets	93,519	91,688
Deposits	(561)	(551)
Consolidated obligation discount notes	(38,635)	(42,170)
Consolidated obligation bonds	(43,843)	(39,895)
Mandatorily redeemable capital stock	0	0
Other liabilities	(190)	(153)
Financial liabilities	(87,876)	(86,434)
Level 2 \| Carried at fair value on a recurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading debt securities	3,985	3,478
Available-for-sale	14,839	14,573
Advances	1,631	1,025
Derivative assets	207	140
Other assets	36	108
Consolidated obligation discount notes	(998)	(992)
Consolidated obligation bonds	(3,347)	(2,352)
Derivative liabilities	(302)	(321)
Level 2 \| Carried at fair value on a recurring basis \| Government related non-MBS, ABS, and MBS
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale	14,839	14,573
Level 2 \| Carried at fair value on a recurring basis \| Residential MBS \| Private label residential MBS
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale	0	0
Level 2 \| Carried at fair value on a nonrecurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
MPF Loans held in portfolio, net	0	0
Other assets		0
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 and securities purchased under agreements to resell	0	0
Held-to-maturity debt securities	595	622
Advances	0	0
MPF Loans held in portfolio, net	9	6
Other assets	0	0
Financial assets	646	677
Deposits	0	0
Consolidated obligation discount notes	0	0
Consolidated obligation bonds	0	0
Mandatorily redeemable capital stock	0	0
Other liabilities	0	0
Financial liabilities	0	0
Level 3 \| Carried at fair value on a recurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading debt securities	0	0
Available-for-sale	40	41
Advances	0	0
Derivative assets	0	0
Other assets	0	0
Consolidated obligation discount notes	0	0
Consolidated obligation bonds	0	0
Derivative liabilities	0	0
Level 3 \| Carried at fair value on a recurring basis \| Government related non-MBS, ABS, and MBS
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale	0	0
Level 3 \| Carried at fair value on a recurring basis \| Residential MBS \| Private label residential MBS
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale	40	41
Level 3 \| Carried at fair value on a nonrecurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
MPF Loans held in portfolio, net	$ 2	7
Other assets		$ 1

Fair Value Gains (losses) on fa

Fair Value Gains (losses) on fair value option (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Fair Value, Option, Quantitative Disclosures [Line Items]
Noninterest income - Instruments held under fair value option	$ 2	$ (7)
Advances
Fair Value, Option, Quantitative Disclosures [Line Items]
Noninterest income - Instruments held under fair value option	10	(9)
Other assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Noninterest income - Instruments held under fair value option	0	(3)
Consolidated obligation bonds
Fair Value, Option, Quantitative Disclosures [Line Items]
Noninterest income - Instruments held under fair value option	$ (8)	$ 5

Fair Value (Fair Value Option D

Fair Value (Fair Value Option Difference Between Fair Value and Unpaid Principal Balance) (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Option, Quantitative Disclosures [Line Items]
Unpaid principal balance, advances	$ 50,628	$ 52,606
Advances, fair value option	1,631	1,025
Unpaid principal balance, bonds	47,143	42,486
Consolidated Obligation Bonds, fair value option	3,347	2,352
Advances
Fair Value, Option, Quantitative Disclosures [Line Items]
Unpaid principal balance, advances	1,631	1,037
Fair value over (under) UPB	0	(12)
Advances, fair value option	1,631	1,025
Consolidated obligation bonds
Fair Value, Option, Quantitative Disclosures [Line Items]
Unpaid principal balance, bonds	3,340	2,358
Fair value over (under) UPB	7	(6)
Consolidated Obligation Bonds, fair value option	$ 3,347	$ 2,352

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Millions		Mar. 31, 2019	Dec. 31, 2018
Commitments
Expire within one year		$ 18,268	$ 20,775
Expire after one year		6,336	4,631
Total		24,604	25,406
Unsettled consolidated obligation bonds
Commitments
Expire within one year		325	114
Expire after one year		0	0
Total		325	114
Member standby letters of credit
Commitments
Expire within one year		17,342	19,971
Expire after one year	[1]	6,068	4,335
Total		23,410	24,306
Portion of member standby letters of credit which were renewable annually		2,000	1,700
Housing authority standby bond purchase agreements
Commitments
Expire within one year		211	84
Expire after one year		244	289
Total		455	373
Advance commitments
Commitments
Expire within one year		14	267
Expire after one year		24	7
Total		38	274
MPF delivery commitments
Commitments
Expire within one year		375	336
Expire after one year		0	0
Total		375	336
Other
Commitments
Expire within one year		1	3
Expire after one year		0	0
Total		$ 1	$ 3

[1]	Contains $2.0 billion and $1.7 billion of member standby letters of credit as of March 31, 2019 , and December 31, 2018

Transactions with Related Par_3

Transactions with Related Parties and Other FHLBs (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Accounts With Related Party Transactions [Line Items]
Assets - Advances	$ 50,776	$ 52,628
Liabilities - Deposits	561	551
Equity - Capital Stock	1,660	1,698
Transactions with members
Accounts With Related Party Transactions [Line Items]
Assets - Advances	625	665
Liabilities - Deposits	7	6
Equity - Capital Stock	$ 27	$ 27