Federal Home Loan Bank of Chicago 10-Q7 Nov 192019 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2019shares
Document and Entity Information [Abstract]
Entity Incorporation, State or Country Code	X1
Entity Tax Identification Number	36-6001019
Entity Address, Address Line One	200 East Randolph Drive
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60601
Entity Registrant Name	Federal Home Loan Bank of Chicago
City Area Code	312
Local Phone Number	565-5700
Entity Central Index Key	0001331451
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	000-51401
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding	21,702,727
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false

Statements of Condition

Statements of Condition - USD ($) shares in Millions, $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Assets
Cash and due from banks	$ 65	$ 28
Interest bearing deposits	1,255	775
Federal Funds sold	8,751	7,704
Securities purchased under agreements to resell	2,600	2,900
Investment debt securities -
Trading,	4,496	3,478
pledged	471	269
Available-for-sale	16,214	14,614
Held-to-maturity,	2,159	3,213
Fair Value	2,422	3,492
Investment debt securities	22,869	21,305
Advances,	57,629	52,628
carried at fair value	2,900	1,025
MPF Loans held in portfolio, net of	9,004	7,103
allowance for credit losses	(1)	(1)
Derivative assets	11	6
Other assets,	359	408
carried at fair value	88	108
Assets	102,543	92,857
Deposits -
Noninterest bearing	223	54
Interest bearing,	809	497
from other FHLBs	16	29
Deposits	1,032	551
Consolidated obligations, net -
Discount notes,	47,647	43,166
carried at fair value	0	992
Bonds,	46,738	42,250
carried at fair value	6,639	2,352
Consolidated obligations, net	94,385	85,416
Derivative liabilities	18	16
Affordable Housing Program assessment payable	83	84
Mandatorily redeemable capital stock	324	313
Other liabilities	1,155	1,188
Liabilities	96,997	87,568
Commitments and contingencies - see notes to the financial statements
Capital
Class B1 activity stock,	$ 1,645	$ 1,476
million shares issued and outstanding	16	15
Class B2 membership stock,	$ 201	$ 222
million shares issued and outstanding	2	2
Capital stock - putable,	$ 1,846	$ 1,698
par value per share	$ 100	$ 100
Retained earnings - unrestricted	$ 3,163	$ 3,023
Retained earnings - restricted	559	513
Retained earnings	3,722	3,536
Accumulated other comprehensive income (loss) (AOCI)	(22)	55
Capital	5,546	5,289
Liabilities and capital	$ 102,543	$ 92,857

Statements of Income

Statements of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Statements of Income - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Interest income	$ 662	$ 603	$ 2,051	$ 1,660
Interest expense	549	477	1,704	1,278
Net interest income	113	126	347	382
Provision for (reversal of) credit losses	0	(1)	0	(1)
Net interest income after provision for (reversal of) credit losses	113	127	347	383
Noninterest income -
Trading securities	(3)	5	20	8
Derivatives and hedging activities	(5)	(5)	(31)	(5)
Instruments held under fair value option	24	(3)	43	(20)
MPF fees,	10	9	27	24
from other FHLBs	8	6	21	18
Other, net	3	0	9	8
Noninterest income	29	6	68	15
Noninterest expense -
Compensation and benefits	27	26	82	78
Operating expenses	23	20	66	52
Other	4	1	8	5
Noninterest expense	54	47	156	135
Income before assessments	88	86	259	263
Affordable Housing Program	9	9	27	27
Net income	$ 79	$ 77	$ 232	$ 236

Statements of Comprehensive Inc

Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Statements of Comprehensive Income - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 79	$ 77	$ 232	$ 236
Other comprehensive income (loss) -
Net unrealized gain (loss) available-for-sale debt securities	(61)	(32)	(80)	(124)
Noncredit OTTI held-to-maturity debt securities	7	7	20	22
Net unrealized gain (loss) cash flow hedges	(4)	25	(17)	115
Postretirement plans	(5)	(4)	0	(7)
Other comprehensive income (loss)	(63)	(4)	(77)	6
Comprehensive income	$ 16	$ 73	$ 155	$ 242

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	Retained Earnings, Unrestricted	Retained Earnings, Restricted	Retained Earnings, Total	AOCI
Shares, beginning at Dec. 31, 2017		12	2
Balance, beginning at Dec. 31, 2017	$ 4,852	$ 1,241	$ 202	$ 2,845	$ 452	$ 3,297	$ 112
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	242			189	47	236	6
Proceeds from issuance of capital stock shares		23	0
Proceeds from issuance of capital stock	2,265	$ 2,254	$ 11
Repurchases of capital stock shares		0	(20)
Repurchases of capital stock	(1,988)	$ 0	$ (1,988)
Capital stock reclassified to mandatorily redeemable capital stock liability shares		0	0
Capital stock reclassed to mandatorily redeemable capital stock liability	(2)	$ (1)	$ (1)
Transfers between classes of capital stock shares		(20)	20
Transfers between classes of capital stock		$ (1,951)	$ 1,951
Cash dividends - class B1	(43)			(43)		(43)
Cash dividends - class B2	(2)			(2)		(2)
Common Stock Dividend - Annualized Rate		3.92%	1.60%
Total change in period shares		3	0
Total change in period	472	$ 302	$ (27)	144	47	191	6
Shares, ending at Sep. 30, 2018		15	2
Balance, ending at Sep. 30, 2018	5,324	$ 1,543	$ 175	2,989	499	3,488	118
Shares, beginning at Jun. 30, 2018		15	3
Balance, beginning at Jun. 30, 2018	5,355	$ 1,498	$ 307	2,944	484	3,428	122
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	73			62	15	77	(4)
Proceeds from issuance of capital stock shares		6	0
Proceeds from issuance of capital stock	556	$ 556	$ 0
Repurchases of capital stock shares		0	(7)
Repurchases of capital stock	(643)	$ 0	$ (643)
Transfers between classes of capital stock shares		(6)	6
Transfers between classes of capital stock		$ (511)	$ 511
Cash dividends - class B1	(16)			(16)		(16)
Cash dividends - class B2	(1)			(1)		(1)
Common Stock Dividend - Annualized Rate		4.25%	1.70%
Total change in period shares		0	(1)
Total change in period	(31)	$ 45	$ (132)	45	15	60	(4)
Shares, ending at Sep. 30, 2018		15	2
Balance, ending at Sep. 30, 2018	5,324	$ 1,543	$ 175	2,989	499	3,488	118
Shares, beginning at Dec. 31, 2018		15	2
Balance, beginning at Dec. 31, 2018	5,289	$ 1,476	$ 222	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	155			186	46	232	(77)
Proceeds from issuance of capital stock shares		20	0
Proceeds from issuance of capital stock	2,089	$ 2,065	$ 24
Repurchases of capital stock shares		0	(19)
Repurchases of capital stock	(1,931)	$ 0	$ (1,931)
Capital stock reclassified to mandatorily redeemable capital stock liability shares		0	0
Capital stock reclassed to mandatorily redeemable capital stock liability	(10)	$ (9)	$ (1)
Transfers between classes of capital stock shares		(19)	19
Transfers between classes of capital stock		$ (1,887)	$ 1,887
Cash dividends - class B1	(59)			(59)		(59)
Cash dividends - class B2	(3)			(3)		(3)
Common Stock Dividend - Annualized Rate		5.00%	2.17%
Total change in period shares		1	0
Total change in period	257	$ 169	$ (21)	140	46	186	(77)
Shares, ending at Sep. 30, 2019		16	2
Balance, ending at Sep. 30, 2019	5,546	$ 1,645	$ 201	3,163	559	3,722	(22)
Shares, beginning at Jun. 30, 2019		14	3
Balance, beginning at Jun. 30, 2019	5,382	$ 1,394	$ 284	3,120	543	3,663	41
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	16			63	16	79	(63)
Proceeds from issuance of capital stock shares		6	0
Proceeds from issuance of capital stock	623	$ 611	$ 12
Repurchases of capital stock shares		0	(5)
Repurchases of capital stock	(455)	$ 0	$ (455)
Transfers between classes of capital stock shares		(4)	4
Transfers between classes of capital stock		$ (360)	$ 360
Cash dividends - class B1	(19)			(19)		(19)
Cash dividends - class B2	(1)			(1)		(1)
Common Stock Dividend - Annualized Rate		5.00%	2.25%
Total change in period shares		2	(1)
Total change in period	164	$ 251	$ (83)	43	16	59	(63)
Shares, ending at Sep. 30, 2019		16	2
Balance, ending at Sep. 30, 2019	$ 5,546	$ 1,645	$ 201	$ 3,163	$ 559	$ 3,722	$ (22)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($) $ in Millions		9 Months Ended
Condensed Statements of Cash Flows - USD ($) $ in Millions		Sep. 30, 2019	Sep. 30, 2018
Operating
Net cash provided by (used in) operating activities		$ (625)	$ 447
Investing
Net change interest bearing deposits		(480)	0
Net change Federal Funds sold		(1,047)	(124)
Net change securities purchased under agreements to resell		300	2,850
Trading debt securities -
Sales		1,952	200
Proceeds from maturities and paydowns		1,504	8
Purchases		(4,476)	(2,566)
Available-for-sale debt securities -
Proceeds from maturities and paydowns		3,508	2,365
Purchases		(4,430)	(2,476)
Held-to-maturity debt securities - a
Proceeds from maturities and paydowns	[1]	2,553	2,795
Purchases	[1]	(1,462)	(1,534)
Advances -
Principal collected		1,134,786	1,017,269
Issued		(1,139,298)	(1,024,012)
MPF Loans held in portfolio -
Principal collected		995	595
Purchases		(2,908)	(1,848)
Other investing activities		8	14
Net cash provided by (used in) investing activities		(8,495)	(6,464)
Financing
Net change deposits, incl.		481	57
from other FHLBs		(12)	(19)
Discount notes -
Net proceeds from issuance		1,095,704	1,469,628
Payments for maturing and retiring		(1,091,275)	(1,473,155)
Consolidated obligation bonds -
Net proceeds from issuance		33,034	32,132
Payments for maturing and retiring		(28,885)	(22,862)
Capital stock -
Proceeds from issuance		2,089	2,265
Repurchases		(1,931)	(1,988)
Cash dividends paid		(62)	(45)
Other financing activities		2	(13)
Net cash provided by (used in) financing activities		9,157	6,019
Net increase (decrease) in cash and due from banks		37	2
Cash and due from banks at beginning of period		28	42
Cash and due from banks at end of period		$ 65	$ 44

[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	9 Months Ended
Background and Basis of Presentation	Sep. 30, 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 62 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. 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 to the financial statements in our 2018 Form 10-K with respect to our basis of presentation for consolidation of variable interest entities and our gross versus net presentation of financial instruments for further details.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 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 : Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate 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. The 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 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 , 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.

Recently Issued but Not Yet Ado

Recently Issued but Not Yet Adopted Accounting Standards	9 Months Ended
Recently Issued but Not Yet Adopted Accounting Standards	Sep. 30, 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 The following table provides a summary of recently issued but not yet adopted accounting standards which may have an effect on our financial statements. Accounting Standards Update (ASU) Description Effective Date Effect on the Financial Statements or Other Significant Matters 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. 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. This guidance becomes effective for the interim and annual periods beginning on January 1, 2020. We do not expect this guidance to have a material effect 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) In August of 2018, the FASB issued amendments to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal use software (and hosting arrangements that include an internal use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by these amendments. The amendments should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. This guidance becomes effective for the interim and annual periods beginning on January 1, 2020. Early adoption is permitted. The guidance is not expected to have a significant effect on our financial condition, results of operations, and cash flows. Accounting Standards Update (ASU) Description Effective Date Effect on the Financial Statements or Other Significant Matters Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments (ASU 2019-4) In April of 2019, the FASB issued codification improvements applicable to financial instrument guidance. Codification improvements relevant to the Bank are as follows: - Provides various options for determining currently expected credit losses for accrued interest receivable as well as flexibility in presenting accrued interest receivable separately from the financial instrument’s amortized cost basis provided certain disclosures are made. - Clarifies that expected recoveries of amounts previously written off and expected to be written off should be included in the valuation account and should not exceed the aggregate of amounts previously written off and expected to be written off by the entity. In addition, for collateral dependent financial assets, the amendments clarify that an allowance for credit losses that is added to the amortized cost basis of the financial asset(s) should not exceed amounts previously written off. - Clarifies consideration of estimated costs to sell when foreclosure is probable should not be discounted. - Clarifies issues related to partial-term fair value hedges of interest rate risk, amortization of fair value hedge basis adjustments and various other derivative and hedging issues. These amendments take effect January 1, 2020. We are in the process of evaluating the effect of this new guidance on our financial condition, results of operation, and cash flows. Financial Instruments - Credit Losses Topic 326 - Targeted Transition Relief (ASU 2019-05) In May of 2019, the FASB issued an amendment providing transition relief to FASB ASU 2016-13 or CECL. Specifically, the amendment permits entities with an option to irrevocably elect the fair value option on an instrument by instrument basis for eligible instruments such as loans carried at amortized cost. This fair value election does not apply to HTM debt securities. The difference between the carrying amount of the instruments and the fair value amount of the instruments in which the fair value option is irrevocably elected upon adoption would be recorded as a cumulative-effect adjustment to the opening balance of retained earnings as of January 1, 2020. The election would coincide with the adoption of CECL or January 1, 2020. We are in the process of evaluating whether or not to utilize this transition relief.

Interest Income and Interest Ex

Interest Income and Interest Expense	9 Months Ended
Interest Income and Interest Expense	Sep. 30, 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 September 30, Nine months ended September 30, 2019 2018 2019 2018 Interest income - Trading $ 24 $ 8 $ 62 $ 23 Available-for-sale interest income 126 107 378 318 Available-for-sale prepayment fees 1 7 3 27 Available-for-sale 127 114 381 345 Held-to-maturity 33 46 105 135 Investment debt securities 184 168 548 503 Advances 326 312 1,046 811 MPF Loans held in portfolio 79 62 233 177 Federal funds sold and securities purchased under agreements to resell 64 54 201 152 Other 9 7 23 17 Interest income 662 603 2,051 1,660 Interest expense - Consolidated obligations - Discount notes 270 208 831 596 Bonds 272 263 851 665 Other 7 6 22 17 Interest expense 549 477 1,704 1,278 Net interest income 113 126 347 382 Provision for (reversal of) credit losses — (1 ) — (1 ) Net interest income after provision for (reversal of) credit losses $ 113 $ 127 $ 347 $ 383

Investment Debt Securities

Investment Debt Securities	9 Months Ended
Investment Debt Securities	Sep. 30, 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 September 30, 2019 December 31, 2018 U.S. Government & other government related $ 4,482 $ 3,460 Residential MBS GSE 13 17 Government guaranteed 1 1 Trading debt securities $ 4,496 $ 3,478 The following table presents our gains and losses on trading debt securities recorded in Noninterest Income Other. Three months ended September 30, Nine months ended September 30, 2019 2018 2019 2018 Net unrealized gains (losses) on securities held at period end $ (9 ) $ 4 $ 3 $ 8 Net realized gains (losses) on securities sold/matured during the period 6 1 17 — Net gains (losses) on trading debt securities $ (3 ) $ 5 $ 20 $ 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 September 30, 2019 U.S. Government & other government related $ 715 $ 40 $ — $ 755 State or local housing agency 14 1 — 15 FFELP ABS 3,309 155 (5 ) 3,459 Residential MBS GSE 11,614 10 (87 ) 11,537 Government guaranteed 401 10 — 411 Private label 30 7 — 37 Available-for-sale debt securities $ 16,083 $ 223 $ (92 ) $ 16,214 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 September 30, 2019 U.S. Government & other government related $ 666 $ — $ 666 $ 24 $ — $ 690 State or local housing agency 4 — 4 — — 4 Residential MBS GSE 964 — 964 35 — 999 Government guaranteed 211 — 211 3 — 214 Private label 408 (94 ) 314 201 — 515 Held-to-maturity debt securities $ 2,253 $ (94 ) $ 2,159 $ 263 $ — $ 2,422 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 September 30, 2019 Carrying Amount and Fair Value Carrying Amount Fair Value Year of Maturity - Due in one year or less $ — $ 126 $ 126 Due after one year through five years 6 41 42 Due after five years through ten years 250 79 79 Due after ten years 514 424 447 ABS and MBS without a single maturity date 15,444 1,489 1,728 Total debt securities $ 16,214 $ 2,159 $ 2,422 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 in the following section 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 September 30, 2019 U.S. Government & other government related $ — $ — $ 3 $ — $ 3 $ — FFELP ABS 530 (5 ) — — 530 (5 ) Residential MBS GSE 8,202 (64 ) 1,162 (23 ) 9,364 (87 ) Private label — — 5 — 5 — Available-for-sale debt securities $ 8,732 $ (69 ) $ 1,170 $ (23 ) $ 9,902 $ (92 ) 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 September 30, 2019 State or local housing agency 2 — — — 2 — Residential MBS GSE 5 — — — 5 — Government-guaranteed 45 — 24 — 69 — Private label — — 490 (94 ) 490 (94 ) Held-to-maturity debt securities $ 52 $ — $ 514 $ (94 ) $ 566 $ (94 ) 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. We do not intend to sell these securities and we believe it is more likely than not that we will not be required to sell them prior to recovering their amortized cost basis. We expect to recover the entire amortized cost basis. 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 September 30, Nine months ended September 30, 2019 2018 2019 2018 Beginning Balance $ 427 $ 459 $ 442 $ 477 Reductions: Securities sold, matured, or fully prepaid over the period — — (1 ) — Increases in cash flows expected to be collected and recognized into interest income (6 ) (8 ) (20 ) (26 ) Ending Balance $ 421 $ 451 $ 421 $ 451

Advances

Advances	9 Months Ended
Advances	Sep. 30, 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 September 30, 2019 Amount Weighted Average Contractual Interest Rate Due in one year or less $ 24,504 2.06 % One to two years 2,964 2.20 % Two to three years 3,000 2.36 % Three to four years 6,451 2.44 % Four to five years 7,296 2.22 % More than five years 12,900 2.24 % Par value $ 57,115 2.19 % 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 September 30, 2019 December 31, 2018 Par value $ 57,115 $ 52,606 Fair value hedging adjustments 469 30 Other adjustments 45 (8 ) Advances $ 57,629 $ 52,628 The following advance borrowers exceeded 10% of our advances outstanding: As of September 30, 2019 Par Value % of Total Outstanding One Mortgage Partners Corp. $ 11,000 a 19.3 % BMO Harris Bank, National Association 10,975 19.2 % The Northern Trust Company 7,700 13.5 % a One Mortgage Partners Corp. is a subsidiary of JPMorgan Chase Bank NA.

MPF Loans Held in Portfolio (No

MPF Loans Held in Portfolio (Notes)	9 Months Ended
MPF Loans Held in Portfolio (Notes)	Sep. 30, 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 September 30, 2019 December 31, 2018 Medium term (15 years or less) $ 546 $ 334 Long term (greater than 15 years) 8,301 6,662 Unpaid principal balance 8,847 6,996 Net premiums, credit enhancement, and/or deferred loan fees 147 100 Fair value and economic hedging adjustments 11 8 MPF Loans held in portfolio, before allowance for credit losses 9,005 7,104 Allowance for credit losses on MPF Loans (1 ) (1 ) MPF Loans held in portfolio, net $ 9,004 $ 7,103 Conventional mortgage loans $ 7,936 $ 6,062 Government Loans 911 934 Unpaid principal balance $ 8,847 $ 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	9 Months Ended
Allowance for Credit Losses	Sep. 30, 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 September 30, 2019 December 31, 2018 Conventional mortgage loans - Individually evaluated for impairment $ 29 $ 33 Collectively evaluated for impairment 8,093 6,155 Recorded investment $ 8,122 $ 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. September 30, 2019 December 31, 2018 As of Conventional Government Total Conventional Government Total Past due 30-59 days $ 66 $ 39 $ 105 $ 59 $ 42 $ 101 Past due 60-89 days 19 11 30 17 14 31 Past due 90 days or more 28 15 43 31 19 50 Past due 113 65 178 107 75 182 Current 8,009 866 8,875 6,081 879 6,960 Recorded investment $ 8,122 $ 931 $ 9,053 $ 6,188 $ 954 $ 7,142 In process of foreclosure $ 10 $ 3 $ 13 $ 13 $ 6 $ 19 Serious delinquency rate 0.35 % 1.53 % 0.47 % 0.51 % 1.95 % 0.70 % Past due 90 days or more and still accruing interest $ 4 $ 14 $ 18 $ 5 $ 19 $ 24 Impaired loans without an allowance for credit losses and on nonaccrual status 29 29 33 33 Unpaid principal balance of impaired loans without an allowance for credit losses 32 32 36 36

Derivatives and Hedging Activit

Derivatives and Hedging Activities	9 Months Ended
Derivatives and Hedging Activities	Sep. 30, 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. As of September 30, 2019 , based on credit analyses and collateral requirements, we have not recorded a credit loss 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 have been $3 million at September 30, 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 in 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 $471 million of investment securities that can be sold or repledged, as part of our initial margin related to cleared derivative transactions at September 30, 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 September 30, 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. September 30, 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 $ 35,906 $ 43 $ 363 $ 35,549 $ 39 $ 261 Derivatives not in hedge accounting relationships- Interest rate contracts 18,934 164 111 19,803 100 59 Other 1,905 2 4 619 1 1 Derivatives not in hedge accounting relationships 20,839 166 115 20,422 101 60 Gross derivative amount before netting adjustments and cash collateral $ 56,745 209 478 $ 55,971 140 321 Netting adjustments and cash collateral (198 ) (460 ) (134 ) (305 ) Derivatives on statements of condition $ 11 $ 18 $ 6 $ 16 Cash Collateral Cash Collateral Cash collateral posted and related accrued interest $ 312 $ 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 September 30, Nine months ended September 30, For the periods ending 2019 2018 2019 2018 Fair value hedges - interest rate contracts $ (6 ) $ (6 ) Cash flow hedges - interest rate contracts — 1 Economic hedges - Interest rate contracts $ (9 ) 2 $ (44 ) 1 Other (1 ) (1 ) 4 (2 ) Economic hedges (10 ) 1 (40 ) (1 ) Variation margin on daily settled cleared derivatives 5 — 9 1 Noninterest income - Derivatives and hedging activities $ (5 ) $ (5 ) $ (31 ) $ (5 ) 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 September 30, 2019 Derivatives with legal right of offset - Gross recognized amount $ 136 $ 71 $ 207 $ 407 $ 68 $ 475 Netting adjustments and cash collateral (134 ) (64 ) (198 ) (396 ) (64 ) (460 ) Derivatives with legal right of offset - net 2 7 9 11 4 15 Derivatives without legal right of offset 2 — 2 3 — 3 Derivatives on statements of condition 4 7 11 14 4 18 Less: Noncash collateral received or pledged and cannot be sold or repledged — — — — 4 4 Net amount $ 4 $ 7 $ 11 $ 14 $ — $ 14 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 September 30, 2019 , we had $468 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 were no t material, 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 is 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 September 30, 2019 Available-for-sale debt securities $ (302 ) $ 294 $ (8 ) Advances (131 ) 134 3 MPF Loans held for portfolio — (1 ) (1 ) Consolidated obligation bonds 23 (30 ) (7 ) Total $ (410 ) $ 397 $ (13 ) Three months ended September 30, 2018 Available-for-sale debt securities $ 46 $ (50 ) (4 ) $ (14 ) Advances 43 (47 ) (4 ) 6 MPF Loans held for portfolio — — — (1 ) Consolidated obligation bonds (17 ) 19 2 (18 ) Total $ 72 $ (78 ) $ (6 ) $ (27 ) Nine months ended September 30, 2019 Available-for-sale debt securities $ (825 ) $ 798 $ (27 ) Advances (404 ) 429 25 MPF Loans held for portfolio — (1 ) (1 ) Consolidated obligation bonds 255 (307 ) (52 ) Total $ (974 ) $ 919 $ (55 ) Nine months ended September 30, 2018 Available-for-sale debt securities $ 95 $ (101 ) $ (6 ) $ (44 ) Advances 150 (148 ) 2 9 MPF Loans held for portfolio — — — (3 ) Consolidated obligation bonds (166 ) 164 (2 ) (34 ) Total $ 79 $ (85 ) $ (6 ) $ (72 ) 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. The line for MPF Loans held for portfolio relates to discontinued closed fair value hedges that are being amortized over the remaining life of the loans, as of September 30, 2019 we did not have any active fair value hedges on our MPF Loans. As of September 30, 2019 Amortized cost of hedged asset/(liability) Basis adjustments active hedges included in amortized cost Basis adjustments discontinued hedges included in amortized cost Cumulative amount of fair value hedging basis adjustments Advances $ 10,457 $ 469 $ — $ 469 Available-for-sale securities 10,894 947 1 948 MPF Loans held for portfolio 726 — 13 13 Consolidated obligation bonds (16,282 ) (112 ) 32 (80 ) 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, is 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 $2 million as of September 30, 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. Gross Amount Initially Recognized in AOCI Amount Reclassified from AOCI into Net Interest Income Three months ended September 30, 2019 Discount notes $ (8 ) $ (4 ) Total $ (8 ) $ (4 ) Nine months ended September 30, 2019 Discount notes $ (40 ) $ (22 ) Bonds — (1 ) Total $ (40 ) $ (23 ) Ineffectiveness Recorded in Derivatives and Hedging Activities Effective Portion Recorded in AOCI Amount Recorded in Net Interest Income Three months ended September 30, 2018 Discount notes — 15 (22 ) Total $ — $ 15 $ (22 ) Nine months ended September 30, 2018 Advances $ — $ — $ 1 Discount notes 1 103 (86 ) Bonds — — (1 ) Total $ 1 $ 103 $ (86 )

Consolidated Obligations

Consolidated Obligations	9 Months Ended
Consolidated Obligations	Sep. 30, 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 September 30, 2019 December 31, 2018 Consolidated obligation discount notes $ 47,647 $ 43,166 Weighted Average Interest Rate 1.91 % 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 September 30, 2019 Contractual Maturity Weighted Average Interest Rate By Maturity or Next Call Date Due in one year or less $ 18,387 1.94 % $ 30,437 One to two years 11,365 2.17 % 8,891 Two to three years 6,637 2.31 % 3,820 Three to four years 2,768 2.70 % 2,104 Four to five years 1,806 2.49 % 562 Thereafter 5,679 3.08 % 828 Total par value $ 46,642 2.25 % $ 46,642 The following table presents consolidated obligation bonds outstanding by call feature: As of September 30, 2019 December 31, 2018 Noncallable $ 32,207 $ 27,999 Callable 14,435 14,487 Par value 46,642 42,486 Fair value hedging adjustments 80 (227 ) Other adjustments 16 (9 ) Consolidated obligation bonds $ 46,738 $ 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 September 30, 2019 , and December 31, 2018 . See Note 17 - Commitments and Contingencies in our 2018 Form 10-K for further details. September 30, 2019 December 31, 2018 Par values as of Bonds Discount Notes Total Bonds Discount Notes Total FHLB System total consolidated obligations $ 621,082 $ 389,189 $ 1,010,271 $ 604,250 $ 427,367 $ 1,031,617 FHLB Chicago as primary obligor 46,642 47,733 94,375 42,486 43,280 85,766 As a percent of the FHLB System 8 % 12 % 9 % 7 % 10 % 8 %

Capital and Mandatorily Redeema

Capital and Mandatorily Redeemable Capital Stock (MRCS)	9 Months Ended
Capital and Mandatorily Redeemable Capital Stock (MRCS)	Sep. 30, 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. September 30, 2019 December 31, 2018 Requirement Actual Requirement Actual Total regulatory capital $ 4,102 $ 5,892 $ 3,714 $ 5,547 Total regulatory capital ratio 4.00 % 5.75 % 4.00 % 5.97 % Leverage capital $ 5,127 $ 8,838 $ 4,643 $ 8,321 Leverage capital ratio 5.00 % 8.62 % 5.00 % 8.96 % Risk-based capital $ 1,152 $ 5,892 $ 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 September 30, 2019 Regulatory Capital Stock Outstanding % of Total Outstanding Amount of Which is Classified as a Liability (MRCS) BMO Harris Bank, National Association $ 494 22.8 % $ — The Northern Trust Company 247 11.4 % — One Mortgage Partners Corp. 245 a 11.3 % 245 a One Mortgage Partners Corp. is a subsidiary of JPMorgan Chase Bank NA. On August 14, 2019, the FHFA issued an Advisory Bulletin (the “AB”) providing guidance for each FHLB to maintain a ratio of at least two percent of capital stock to total assets in order to help preserve the cooperative structure incentives that encourage members to remain fully engaged in the oversight of their investment in the Bank. Beginning in February 2020, the FHFA will consider the proportion of capital stock to assets, measured on a daily average basis at month end, when assessing each FHLB’s capital management practices. Dividends Our ability to pay dividends is subject to the FHLB Act and FHFA regulations. On October 22, 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 third quarter of 2019 . This dividend totaled $24 million (recorded as $20 million dividends on capital stock and $4 million

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
Accumulated Other Comprehensive Income (Loss)	Sep. 30, 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 Total in AOCI Three months ended September 30, 2019 Beginning balance $ 192 $ (101 ) $ (44 ) $ (6 ) $ 41 Change in the period recorded to the statements of condition, before reclassifications to statements of income (61 ) 7 (8 ) (6 ) (68 ) Amounts reclassified in period to statements of income: Net interest income — — 4 4 Noninterest expense 1 1 Ending balance $ 131 $ (94 ) $ (48 ) $ (11 ) $ (22 ) Three months ended September 30, 2018 Beginning balance $ 315 $ (128 ) $ (57 ) $ (8 ) $ 122 Change in the period recorded to the statements of condition, before reclassifications to statements of income (32 ) 7 15 (5 ) (15 ) Amounts reclassified in period to statements of income: Net interest income — — 10 10 Noninterest expense 1 1 Ending balance $ 283 $ (121 ) $ (32 ) $ (12 ) $ 118 Nine months ended September 30, 2019 Beginning balance $ 211 $ (114 ) $ (31 ) $ (11 ) $ 55 Change in the period recorded to the statements of condition, before reclassifications to statements of income (80 ) 20 (40 ) (2 ) (102 ) Amounts reclassified in period to statements of income: Net interest income — — 23 23 Noninterest expense 2 2 Ending balance $ 131 $ (94 ) $ (48 ) $ (11 ) $ (22 ) Nine months ended September 30, 2018 Beginning balance $ 407 $ (143 ) $ (147 ) $ (5 ) $ 112 Change in the period recorded to the statements of condition, before reclassifications to statements of income (124 ) 22 103 (8 ) (7 ) Amounts reclassified in period to statements of income: Net interest income — — 13 13 Noninterest income (1 ) (1 ) Noninterest expense 1 1 Ending balance $ 283 $ (121 ) $ (32 ) $ (12 ) $ 118

Fair Value

Fair Value	9 Months Ended
Fair Value	Sep. 30, 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 September 30, 2019 Carried at amortized cost Cash and due from banks $ 65 $ 65 $ 65 $ — $ — Interest bearing deposits 1,255 1,255 1,255 — — Federal Funds sold and securities purchased under agreements to resell 11,351 11,351 — 11,351 — Held-to-maturity debt securities 2,159 2,422 — 1,907 515 Advances 54,729 54,794 — 54,794 — MPF Loans held in portfolio, net 9,000 9,210 — 9,203 7 Other assets 163 163 — 163 — Carried at fair value on a recurring basis Trading debt securities 4,496 4,496 — 4,496 — Government related non-MBS, ABS, and MBS 16,177 16,177 — 16,177 — Private label residential MBS 37 37 — — 37 Available-for-sale debt securities 16,214 16,214 — 16,177 37 Advances - fair value option election 2,900 2,900 — 2,900 — Derivative assets 11 11 1 208 — $ (198 ) Other assets - held for sale at fair value 88 88 — 88 — Carried at fair value on a nonrecurring basis MPF Loans held in portfolio, net 4 4 — — 4 Other assets 1 1 — — 1 Financial assets 102,436 $ 102,974 $ 1,321 $ 101,287 $ 564 $ (198 ) Other non financial assets 107 Assets $ 102,543 Carried at amortized cost Deposits $ (1,032 ) $ (1,032 ) $ — $ (1,032 ) $ — Consolidated obligation discount notes (47,647 ) (47,651 ) — (47,651 ) — Consolidated obligation bonds (40,099 ) (40,329 ) — (40,329 ) — Mandatorily redeemable capital stock (324 ) (324 ) (324 ) — — Other liabilities (152 ) (152 ) — (152 ) — Carried at fair value on a recurring basis Consolidated obligation bonds - fair value option (6,639 ) (6,639 ) — (6,639 ) — Derivative liabilities (18 ) (18 ) — (478 ) — $ 460 Financial liabilities (95,911 ) $ (96,145 ) $ (324 ) $ (96,281 ) $ — $ 460 Other non financial liabilities (1,086 ) Liabilities $ (96,997 ) 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 - held for sale at fair value 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 September 30, Nine months ended September 30, 2019 2018 2019 2018 Advances $ 18 $ (1 ) $ 52 $ (11 ) Other assets — (1 ) — (6 ) Consolidated obligation bonds 6 (1 ) (9 ) (3 ) Noninterest income - Instruments held under fair value option $ 24 $ (3 ) $ 43 $ (20 ) 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. September 30, 2019 December 31, 2018 As of Advances Consolidated Obligation Bonds Advances Consolidated Obligation Bonds Unpaid principal balance $ 2,857 $ 6,617 $ 1,037 $ 2,358 Fair value over (under) UPB 43 22 (12 ) (6 ) Fair value $ 2,900 $ 6,639 $ 1,025 $ 2,352

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 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. September 30, 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 $ 148 $ — $ 148 $ 114 $ — $ 114 Member standby letters of credit 16,226 7,527 a 23,753 19,971 4,335 a 24,306 Housing authority standby bond purchase agreements 152 298 450 84 289 373 Advance commitments 9 30 39 267 7 274 MPF delivery commitments 1,058 — 1,058 336 — 336 Other 1 — 1 3 — 3 Commitments $ 17,594 $ 7,855 $ 25,449 $ 20,775 $ 4,631 $ 25,406 a Contains $4.8 billion and $1.7 billion of member standby letters of credit as of September 30, 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 Form 10-K.

Transactions with Related Parti

Transactions with Related Parties and Other FHLBs	9 Months Ended
Transactions with Related Parties and Other FHLBs	Sep. 30, 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 September 30, 2019 December 31, 2018 Assets - Advances $ 678 $ 665 Liabilities - Deposits 9 6 Equity - Capital Stock 32 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)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2019
Accounting Policies [Abstract]
Derivatives, Policy [Policy Text Block]	(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. The 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.
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 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)	9 Months Ended
Interest Income and Interest Expense (Tables)	Sep. 30, 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 September 30, Nine months ended September 30, 2019 2018 2019 2018 Interest income - Trading $ 24 $ 8 $ 62 $ 23 Available-for-sale interest income 126 107 378 318 Available-for-sale prepayment fees 1 7 3 27 Available-for-sale 127 114 381 345 Held-to-maturity 33 46 105 135 Investment debt securities 184 168 548 503 Advances 326 312 1,046 811 MPF Loans held in portfolio 79 62 233 177 Federal funds sold and securities purchased under agreements to resell 64 54 201 152 Other 9 7 23 17 Interest income 662 603 2,051 1,660 Interest expense - Consolidated obligations - Discount notes 270 208 831 596 Bonds 272 263 851 665 Other 7 6 22 17 Interest expense 549 477 1,704 1,278 Net interest income 113 126 347 382 Provision for (reversal of) credit losses — (1 ) — (1 ) Net interest income after provision for (reversal of) credit losses $ 113 $ 127 $ 347 $ 383

Investment Debt Securities (Tab

Investment Debt Securities (Tables)	9 Months Ended
Investment Debt Securities (Tables)	Sep. 30, 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 September 30, 2019 December 31, 2018 U.S. Government & other government related $ 4,482 $ 3,460 Residential MBS GSE 13 17 Government guaranteed 1 1 Trading debt securities $ 4,496 $ 3,478 The following table presents our gains and losses on trading debt securities recorded in Noninterest Income Other. Three months ended September 30, Nine months ended September 30, 2019 2018 2019 2018 Net unrealized gains (losses) on securities held at period end $ (9 ) $ 4 $ 3 $ 8 Net realized gains (losses) on securities sold/matured during the period 6 1 17 — Net gains (losses) on trading debt securities $ (3 ) $ 5 $ 20 $ 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 September 30, 2019 U.S. Government & other government related $ 715 $ 40 $ — $ 755 State or local housing agency 14 1 — 15 FFELP ABS 3,309 155 (5 ) 3,459 Residential MBS GSE 11,614 10 (87 ) 11,537 Government guaranteed 401 10 — 411 Private label 30 7 — 37 Available-for-sale debt securities $ 16,083 $ 223 $ (92 ) $ 16,214 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 September 30, 2019 U.S. Government & other government related $ 666 $ — $ 666 $ 24 $ — $ 690 State or local housing agency 4 — 4 — — 4 Residential MBS GSE 964 — 964 35 — 999 Government guaranteed 211 — 211 3 — 214 Private label 408 (94 ) 314 201 — 515 Held-to-maturity debt securities $ 2,253 $ (94 ) $ 2,159 $ 263 $ — $ 2,422 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.
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 September 30, 2019 Carrying Amount and Fair Value Carrying Amount Fair Value Year of Maturity - Due in one year or less $ — $ 126 $ 126 Due after one year through five years 6 41 42 Due after five years through ten years 250 79 79 Due after ten years 514 424 447 ABS and MBS without a single maturity date 15,444 1,489 1,728 Total debt securities $ 16,214 $ 2,159 $ 2,422
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 in the following section 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 September 30, 2019 U.S. Government & other government related $ — $ — $ 3 $ — $ 3 $ — FFELP ABS 530 (5 ) — — 530 (5 ) Residential MBS GSE 8,202 (64 ) 1,162 (23 ) 9,364 (87 ) Private label — — 5 — 5 — Available-for-sale debt securities $ 8,732 $ (69 ) $ 1,170 $ (23 ) $ 9,902 $ (92 ) 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 September 30, 2019 State or local housing agency 2 — — — 2 — Residential MBS GSE 5 — — — 5 — Government-guaranteed 45 — 24 — 69 — Private label — — 490 (94 ) 490 (94 ) Held-to-maturity debt securities $ 52 $ — $ 514 $ (94 ) $ 566 $ (94 ) 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 September 30, Nine months ended September 30, 2019 2018 2019 2018 Beginning Balance $ 427 $ 459 $ 442 $ 477 Reductions: Securities sold, matured, or fully prepaid over the period — — (1 ) — Increases in cash flows expected to be collected and recognized into interest income (6 ) (8 ) (20 ) (26 ) Ending Balance $ 421 $ 451 $ 421 $ 451

Advances (Tables)

Advances (Tables)	9 Months Ended
Advances (Tables)	Sep. 30, 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 September 30, 2019 Amount Weighted Average Contractual Interest Rate Due in one year or less $ 24,504 2.06 % One to two years 2,964 2.20 % Two to three years 3,000 2.36 % Three to four years 6,451 2.44 % Four to five years 7,296 2.22 % More than five years 12,900 2.24 % Par value $ 57,115 2.19 % 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 September 30, 2019 December 31, 2018 Par value $ 57,115 $ 52,606 Fair value hedging adjustments 469 30 Other adjustments 45 (8 ) Advances $ 57,629 $ 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 September 30, 2019 Par Value % of Total Outstanding One Mortgage Partners Corp. $ 11,000 a 19.3 % BMO Harris Bank, National Association 10,975 19.2 % The Northern Trust Company 7,700 13.5 % 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)	9 Months Ended
MPF Loans Held in Portfolio (Tables)	Sep. 30, 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 September 30, 2019 December 31, 2018 Medium term (15 years or less) $ 546 $ 334 Long term (greater than 15 years) 8,301 6,662 Unpaid principal balance 8,847 6,996 Net premiums, credit enhancement, and/or deferred loan fees 147 100 Fair value and economic hedging adjustments 11 8 MPF Loans held in portfolio, before allowance for credit losses 9,005 7,104 Allowance for credit losses on MPF Loans (1 ) (1 ) MPF Loans held in portfolio, net $ 9,004 $ 7,103 Conventional mortgage loans $ 7,936 $ 6,062 Government Loans 911 934 Unpaid principal balance $ 8,847 $ 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.

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	9 Months Ended
Allowance for Credit Losses (Tables)	Sep. 30, 2019
Receivables [Abstract]
Financing Receivable, Allowance for Credit Loss [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 September 30, 2019 December 31, 2018 Conventional mortgage loans - Individually evaluated for impairment $ 29 $ 33 Collectively evaluated for impairment 8,093 6,155 Recorded investment $ 8,122 $ 6,188 Allowance for credit losses - Collectively evaluated for impairment $ 1 $ 1
Financing Receivable, Past Due [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. September 30, 2019 December 31, 2018 As of Conventional Government Total Conventional Government Total Past due 30-59 days $ 66 $ 39 $ 105 $ 59 $ 42 $ 101 Past due 60-89 days 19 11 30 17 14 31 Past due 90 days or more 28 15 43 31 19 50 Past due 113 65 178 107 75 182 Current 8,009 866 8,875 6,081 879 6,960 Recorded investment $ 8,122 $ 931 $ 9,053 $ 6,188 $ 954 $ 7,142 In process of foreclosure $ 10 $ 3 $ 13 $ 13 $ 6 $ 19 Serious delinquency rate 0.35 % 1.53 % 0.47 % 0.51 % 1.95 % 0.70 % Past due 90 days or more and still accruing interest $ 4 $ 14 $ 18 $ 5 $ 19 $ 24 Impaired loans without an allowance for credit losses and on nonaccrual status 29 29 33 33 Unpaid principal balance of impaired loans without an allowance for credit losses 32 32 36 36

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	9 Months Ended
Derivatives and Hedging Activities (Tables)	Sep. 30, 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. September 30, 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 $ 35,906 $ 43 $ 363 $ 35,549 $ 39 $ 261 Derivatives not in hedge accounting relationships- Interest rate contracts 18,934 164 111 19,803 100 59 Other 1,905 2 4 619 1 1 Derivatives not in hedge accounting relationships 20,839 166 115 20,422 101 60 Gross derivative amount before netting adjustments and cash collateral $ 56,745 209 478 $ 55,971 140 321 Netting adjustments and cash collateral (198 ) (460 ) (134 ) (305 ) Derivatives on statements of condition $ 11 $ 18 $ 6 $ 16 Cash Collateral Cash Collateral Cash collateral posted and related accrued interest $ 312 $ 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 September 30, Nine months ended September 30, For the periods ending 2019 2018 2019 2018 Fair value hedges - interest rate contracts $ (6 ) $ (6 ) Cash flow hedges - interest rate contracts — 1 Economic hedges - Interest rate contracts $ (9 ) 2 $ (44 ) 1 Other (1 ) (1 ) 4 (2 ) Economic hedges (10 ) 1 (40 ) (1 ) Variation margin on daily settled cleared derivatives 5 — 9 1 Noninterest income - Derivatives and hedging activities $ (5 ) $ (5 ) $ (31 ) $ (5 )
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 September 30, 2019 Derivatives with legal right of offset - Gross recognized amount $ 136 $ 71 $ 207 $ 407 $ 68 $ 475 Netting adjustments and cash collateral (134 ) (64 ) (198 ) (396 ) (64 ) (460 ) Derivatives with legal right of offset - net 2 7 9 11 4 15 Derivatives without legal right of offset 2 — 2 3 — 3 Derivatives on statements of condition 4 7 11 14 4 18 Less: Noncash collateral received or pledged and cannot be sold or repledged — — — — 4 4 Net amount $ 4 $ 7 $ 11 $ 14 $ — $ 14 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 September 30, 2019 Derivatives with legal right of offset - Gross recognized amount $ 136 $ 71 $ 207 $ 407 $ 68 $ 475 Netting adjustments and cash collateral (134 ) (64 ) (198 ) (396 ) (64 ) (460 ) Derivatives with legal right of offset - net 2 7 9 11 4 15 Derivatives without legal right of offset 2 — 2 3 — 3 Derivatives on statements of condition 4 7 11 14 4 18 Less: Noncash collateral received or pledged and cannot be sold or repledged — — — — 4 4 Net amount $ 4 $ 7 $ 11 $ 14 $ — $ 14 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 September 30, 2019 , we had $468 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 were no t material, 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 is 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 September 30, 2019 Available-for-sale debt securities $ (302 ) $ 294 $ (8 ) Advances (131 ) 134 3 MPF Loans held for portfolio — (1 ) (1 ) Consolidated obligation bonds 23 (30 ) (7 ) Total $ (410 ) $ 397 $ (13 ) Three months ended September 30, 2018 Available-for-sale debt securities $ 46 $ (50 ) (4 ) $ (14 ) Advances 43 (47 ) (4 ) 6 MPF Loans held for portfolio — — — (1 ) Consolidated obligation bonds (17 ) 19 2 (18 ) Total $ 72 $ (78 ) $ (6 ) $ (27 ) Nine months ended September 30, 2019 Available-for-sale debt securities $ (825 ) $ 798 $ (27 ) Advances (404 ) 429 25 MPF Loans held for portfolio — (1 ) (1 ) Consolidated obligation bonds 255 (307 ) (52 ) Total $ (974 ) $ 919 $ (55 ) Nine months ended September 30, 2018 Available-for-sale debt securities $ 95 $ (101 ) $ (6 ) $ (44 ) Advances 150 (148 ) 2 9 MPF Loans held for portfolio — — — (3 ) Consolidated obligation bonds (166 ) 164 (2 ) (34 ) Total $ 79 $ (85 ) $ (6 ) $ (72 ) 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. The line for MPF Loans held for portfolio relates to discontinued closed fair value hedges that are being amortized over the remaining life of the loans, as of September 30, 2019 we did not have any active fair value hedges on our MPF Loans. As of September 30, 2019 Amortized cost of hedged asset/(liability) Basis adjustments active hedges included in amortized cost Basis adjustments discontinued hedges included in amortized cost Cumulative amount of fair value hedging basis adjustments Advances $ 10,457 $ 469 $ — $ 469 Available-for-sale securities 10,894 947 1 948 MPF Loans held for portfolio 726 — 13 13 Consolidated obligation bonds (16,282 ) (112 ) 32 (80 )
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. Gross Amount Initially Recognized in AOCI Amount Reclassified from AOCI into Net Interest Income Three months ended September 30, 2019 Discount notes $ (8 ) $ (4 ) Total $ (8 ) $ (4 ) Nine months ended September 30, 2019 Discount notes $ (40 ) $ (22 ) Bonds — (1 ) Total $ (40 ) $ (23 ) Ineffectiveness Recorded in Derivatives and Hedging Activities Effective Portion Recorded in AOCI Amount Recorded in Net Interest Income Three months ended September 30, 2018 Discount notes — 15 (22 ) Total $ — $ 15 $ (22 ) Nine months ended September 30, 2018 Advances $ — $ — $ 1 Discount notes 1 103 (86 ) Bonds — — (1 ) Total $ 1 $ 103 $ (86 )

Consolidated Obligations (Table

Consolidated Obligations (Tables)	9 Months Ended
Consolidated Obligations (Tables)	Sep. 30, 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 September 30, 2019 December 31, 2018 Consolidated obligation discount notes $ 47,647 $ 43,166 Weighted Average Interest Rate 1.91 % 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 September 30, 2019 Contractual Maturity Weighted Average Interest Rate By Maturity or Next Call Date Due in one year or less $ 18,387 1.94 % $ 30,437 One to two years 11,365 2.17 % 8,891 Two to three years 6,637 2.31 % 3,820 Three to four years 2,768 2.70 % 2,104 Four to five years 1,806 2.49 % 562 Thereafter 5,679 3.08 % 828 Total par value $ 46,642 2.25 % $ 46,642
Schedule of Long-term Debt Instruments [Table Text Block]	The following table presents consolidated obligation bonds outstanding by call feature: As of September 30, 2019 December 31, 2018 Noncallable $ 32,207 $ 27,999 Callable 14,435 14,487 Par value 46,642 42,486 Fair value hedging adjustments 80 (227 ) Other adjustments 16 (9 ) Consolidated obligation bonds $ 46,738 $ 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 September 30, 2019 , and December 31, 2018 . See Note 17 - Commitments and Contingencies in our 2018 Form 10-K for further details. September 30, 2019 December 31, 2018 Par values as of Bonds Discount Notes Total Bonds Discount Notes Total FHLB System total consolidated obligations $ 621,082 $ 389,189 $ 1,010,271 $ 604,250 $ 427,367 $ 1,031,617 FHLB Chicago as primary obligor 46,642 47,733 94,375 42,486 43,280 85,766 As a percent of the FHLB System 8 % 12 % 9 % 7 % 10 % 8 %

Capital and Mandatorily Redee_2

Capital and Mandatorily Redeemable Capital Stock (MRCS) (Tables)	9 Months Ended
	Sep. 30, 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. September 30, 2019 December 31, 2018 Requirement Actual Requirement Actual Total regulatory capital $ 4,102 $ 5,892 $ 3,714 $ 5,547 Total regulatory capital ratio 4.00 % 5.75 % 4.00 % 5.97 % Leverage capital $ 5,127 $ 8,838 $ 4,643 $ 8,321 Leverage capital ratio 5.00 % 8.62 % 5.00 % 8.96 % Risk-based capital $ 1,152 $ 5,892 $ 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 September 30, 2019 Regulatory Capital Stock Outstanding % of Total Outstanding Amount of Which is Classified as a Liability (MRCS) BMO Harris Bank, National Association $ 494 22.8 % $ — The Northern Trust Company 247 11.4 % — One Mortgage Partners Corp. 245 a 11.3 % 245 a One Mortgage Partners Corp. is a subsidiary of JPMorgan Chase Bank NA.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Sep. 30, 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 Total in AOCI Three months ended September 30, 2019 Beginning balance $ 192 $ (101 ) $ (44 ) $ (6 ) $ 41 Change in the period recorded to the statements of condition, before reclassifications to statements of income (61 ) 7 (8 ) (6 ) (68 ) Amounts reclassified in period to statements of income: Net interest income — — 4 4 Noninterest expense 1 1 Ending balance $ 131 $ (94 ) $ (48 ) $ (11 ) $ (22 ) Three months ended September 30, 2018 Beginning balance $ 315 $ (128 ) $ (57 ) $ (8 ) $ 122 Change in the period recorded to the statements of condition, before reclassifications to statements of income (32 ) 7 15 (5 ) (15 ) Amounts reclassified in period to statements of income: Net interest income — — 10 10 Noninterest expense 1 1 Ending balance $ 283 $ (121 ) $ (32 ) $ (12 ) $ 118 Nine months ended September 30, 2019 Beginning balance $ 211 $ (114 ) $ (31 ) $ (11 ) $ 55 Change in the period recorded to the statements of condition, before reclassifications to statements of income (80 ) 20 (40 ) (2 ) (102 ) Amounts reclassified in period to statements of income: Net interest income — — 23 23 Noninterest expense 2 2 Ending balance $ 131 $ (94 ) $ (48 ) $ (11 ) $ (22 ) Nine months ended September 30, 2018 Beginning balance $ 407 $ (143 ) $ (147 ) $ (5 ) $ 112 Change in the period recorded to the statements of condition, before reclassifications to statements of income (124 ) 22 103 (8 ) (7 ) Amounts reclassified in period to statements of income: Net interest income — — 13 13 Noninterest income (1 ) (1 ) Noninterest expense 1 1 Ending balance $ 283 $ (121 ) $ (32 ) $ (12 ) $ 118

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
Fair Value (Tables)	Sep. 30, 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 September 30, 2019 Carried at amortized cost Cash and due from banks $ 65 $ 65 $ 65 $ — $ — Interest bearing deposits 1,255 1,255 1,255 — — Federal Funds sold and securities purchased under agreements to resell 11,351 11,351 — 11,351 — Held-to-maturity debt securities 2,159 2,422 — 1,907 515 Advances 54,729 54,794 — 54,794 — MPF Loans held in portfolio, net 9,000 9,210 — 9,203 7 Other assets 163 163 — 163 — Carried at fair value on a recurring basis Trading debt securities 4,496 4,496 — 4,496 — Government related non-MBS, ABS, and MBS 16,177 16,177 — 16,177 — Private label residential MBS 37 37 — — 37 Available-for-sale debt securities 16,214 16,214 — 16,177 37 Advances - fair value option election 2,900 2,900 — 2,900 — Derivative assets 11 11 1 208 — $ (198 ) Other assets - held for sale at fair value 88 88 — 88 — Carried at fair value on a nonrecurring basis MPF Loans held in portfolio, net 4 4 — — 4 Other assets 1 1 — — 1 Financial assets 102,436 $ 102,974 $ 1,321 $ 101,287 $ 564 $ (198 ) Other non financial assets 107 Assets $ 102,543 Carried at amortized cost Deposits $ (1,032 ) $ (1,032 ) $ — $ (1,032 ) $ — Consolidated obligation discount notes (47,647 ) (47,651 ) — (47,651 ) — Consolidated obligation bonds (40,099 ) (40,329 ) — (40,329 ) — Mandatorily redeemable capital stock (324 ) (324 ) (324 ) — — Other liabilities (152 ) (152 ) — (152 ) — Carried at fair value on a recurring basis Consolidated obligation bonds - fair value option (6,639 ) (6,639 ) — (6,639 ) — Derivative liabilities (18 ) (18 ) — (478 ) — $ 460 Financial liabilities (95,911 ) $ (96,145 ) $ (324 ) $ (96,281 ) $ — $ 460 Other non financial liabilities (1,086 ) Liabilities $ (96,997 ) 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 - held for sale at fair value 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 September 30, Nine months ended September 30, 2019 2018 2019 2018 Advances $ 18 $ (1 ) $ 52 $ (11 ) Other assets — (1 ) — (6 ) Consolidated obligation bonds 6 (1 ) (9 ) (3 ) Noninterest income - Instruments held under fair value option $ 24 $ (3 ) $ 43 $ (20 ) 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. September 30, 2019 December 31, 2018 As of Advances Consolidated Obligation Bonds Advances Consolidated Obligation Bonds Unpaid principal balance $ 2,857 $ 6,617 $ 1,037 $ 2,358 Fair value over (under) UPB 43 22 (12 ) (6 ) Fair value $ 2,900 $ 6,639 $ 1,025 $ 2,352

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	Sep. 30, 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. September 30, 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 $ 148 $ — $ 148 $ 114 $ — $ 114 Member standby letters of credit 16,226 7,527 a 23,753 19,971 4,335 a 24,306 Housing authority standby bond purchase agreements 152 298 450 84 289 373 Advance commitments 9 30 39 267 7 274 MPF delivery commitments 1,058 — 1,058 336 — 336 Other 1 — 1 3 — 3 Commitments $ 17,594 $ 7,855 $ 25,449 $ 20,775 $ 4,631 $ 25,406 a Contains $4.8 billion and $1.7 billion of member standby letters of credit as of September 30, 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 Form 10-K.

Transactions with Related Par_2

Transactions with Related Parties and Other FHLBs (Tables)	9 Months Ended
Transactions with Related Parties and Other FHLBs (Tables)	Sep. 30, 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 September 30, 2019 December 31, 2018 Assets - Advances $ 678 $ 665 Liabilities - Deposits 9 6 Equity - Capital Stock 32 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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Interest income -
Trading	$ 24	$ 8	$ 62	$ 23
Available-for-sale interest income	126	107	378	318
Available-for-sale prepayment fees	1	7	3	27
Available-for-sale	127	114	381	345
Held-to-maturity	33	46	105	135
Investment debt securities	184	168	548	503
Advances	326	312	1,046	811
MPF Loans held in portfolio	79	62	233	177
Federal funds sold and securities purchased under agreements to resell	64	54	201	152
Other	9	7	23	17
Interest income	662	603	2,051	1,660
Consolidated obligations -
Discount notes	270	208	831	596
Bonds	272	263	851	665
Other	7	6	22	17
Interest expense	549	477	1,704	1,278
Net interest income	113	126	347	382
Provision for (reversal of) credit losses	0	(1)	0	(1)
Net interest income after provision for (reversal of) credit losses	$ 113	$ 127	$ 347	$ 383

Investment Debt Securities (Tra

Investment Debt Securities (Trading debt scurities) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Debt and Equity Securities, FV-NI [Line Items]
Trading debt securities	$ 4,496		$ 4,496		$ 3,478
Net unrealized gains (losses) on securities held at period end	(9)	$ 4	3	$ 8
Net realized gains (losses) on securities sold/matured during the period	6	1	17	0
Net gains (losses) on trading debt securities	(3)	$ 5	20	$ 8
U.S. Government & other government related
Debt and Equity Securities, FV-NI [Line Items]
Trading debt securities	4,482		4,482		3,460
Residential MBS \| GSE
Debt and Equity Securities, FV-NI [Line Items]
Trading debt securities	13		13		17
Residential MBS \| Government guaranteed
Debt and Equity Securities, FV-NI [Line Items]
Trading debt securities	$ 1		$ 1		$ 1

Investment Debt Securities (Ava

Investment Debt Securities (Available-for-sale debt securities) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	$ 16,083	$ 14,403
Gross Unrealized Gains in AOCI	223	259
Gross Unrealized (Losses) in AOCI	(92)	(48)
Carrying Amount and Fair Value	16,214	14,614
U.S. Government & other government related
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	715	528
Gross Unrealized Gains in AOCI	40	15
Gross Unrealized (Losses) in AOCI	0	0
Carrying Amount and Fair Value	755	543
State or local housing agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	14	17
Gross Unrealized Gains in AOCI	1	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	3,309	3,578
Gross Unrealized Gains in AOCI	155	203
Gross Unrealized (Losses) in AOCI	(5)	0
Carrying Amount and Fair Value	3,459	3,781
Residential MBS \| GSE
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	11,614	9,602
Gross Unrealized Gains in AOCI	10	20
Gross Unrealized (Losses) in AOCI	(87)	(48)
Carrying Amount and Fair Value	11,537	9,574
Residential MBS \| Government guaranteed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	401	645
Gross Unrealized Gains in AOCI	10	13
Gross Unrealized (Losses) in AOCI	0	0
Carrying Amount and Fair Value	411	658
Residential MBS \| Private label
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	30	33
Gross Unrealized Gains in AOCI	7	8
Gross Unrealized (Losses) in AOCI	0	0
Carrying Amount and Fair Value	$ 37	$ 41

Investment Debt Securities (Hel

Investment Debt Securities (Held-to-maturities debt securities) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost Basis	$ 2,253	$ 3,327
Non-credit OTTI Recognized in AOCI (Loss)	(94)	(114)
Carrying Amount	2,159	3,213
Gross Unrecognized Holding Gains	263	280
Gross Unrecognized Holding (Losses)	0	(1)
Fair Value	2,422	3,492
U.S. Government & other government related
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost Basis	666	1,305
Non-credit OTTI Recognized in AOCI (Loss)	0	0
Carrying Amount	666	1,305
Gross Unrecognized Holding Gains	24	18
Gross Unrecognized Holding (Losses)	0	(1)
Fair Value	690	1,322
State or local housing agency
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost Basis	4	6
Non-credit OTTI Recognized in AOCI (Loss)	0	0
Carrying Amount	4	6
Gross Unrecognized Holding Gains	0	0
Gross Unrecognized Holding (Losses)	0	0
Fair Value	4	6
Residential MBS \| GSE
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost Basis	964	1,141
Non-credit OTTI Recognized in AOCI (Loss)	0	0
Carrying Amount	964	1,141
Gross Unrecognized Holding Gains	35	30
Gross Unrecognized Holding (Losses)	0	0
Fair Value	999	1,171
Residential MBS \| Government guaranteed
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost Basis	211	369
Non-credit OTTI Recognized in AOCI (Loss)	0	0
Carrying Amount	211	369
Gross Unrecognized Holding Gains	3	2
Gross Unrecognized Holding (Losses)	0	0
Fair Value	214	371
Residential MBS \| Private label
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost Basis	408	506
Non-credit OTTI Recognized in AOCI (Loss)	(94)	(114)
Carrying Amount	314	392
Gross Unrecognized Holding Gains	201	230
Gross Unrecognized Holding (Losses)	0	0
Fair Value	$ 515	$ 622

Investment Debt Securities Cont

Investment Debt Securities Contractual maturities (Details) - USD ($) $ in Millions	Sep. 30, 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	6
Due after five years through ten years	250
Due after ten years	514
ABS and MBS without a single maturity date	15,444
Carrying Amount and Fair Value	16,214	$ 14,614
Debt Securities, Held-to-maturity, Maturity, Amortized Cost, Rolling Maturity [Abstract]
Due in one year or less	126
Due after one year through five years	41
Due after five years through ten years	79
Due after ten years	424
ABS and MBS without a single maturity date	1,489
Carrying Amount	2,159	3,213
Debt Securities, Held-to-maturity, Maturity, Fair Value, Rolling Maturity [Abstract]
Due in one year or less	126
Due after one year through five years	42
Due after five years through ten years	79
Due after ten years	447
ABS and MBS without a single maturity date	1,728
Fair Value	$ 2,422	$ 3,492

Investment Debt Securities Agin

Investment Debt Securities Aging of unrealized temporary losses (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Available-for-sale debt securities
Available-for-sale debt securities
Less than 12 Months, Fair Value	$ 8,732	$ 5,605
Less than 12 Months, Gross Unrealized (Losses)	(69)	(46)
12 Months or More, Fair Value	1,170	59
12 Months or More, Gross Unrealized (Losses)	(23)	(2)
Total, Fair Value	9,902	5,664
Total, Gross Unrealized (Losses)	(92)	(48)
Available-for-sale debt securities \| U.S. Government & other government related
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	3	3
12 Months or More, Gross Unrealized (Losses)	0	0
Total, Fair Value	3	3
Total, Gross Unrealized (Losses)	0	0
Available-for-sale debt securities \| State or local housing agency
Available-for-sale debt securities
Less than 12 Months, Fair Value		1
Less than 12 Months, Gross Unrealized (Losses)		0
12 Months or More, Fair Value		3
12 Months or More, Gross Unrealized (Losses)		0
Total, Fair Value		4
Total, Gross Unrealized (Losses)		0
Available-for-sale debt securities \| FFELP ABS \| FFELP ABS
Available-for-sale debt securities
Less than 12 Months, Fair Value	530
Less than 12 Months, Gross Unrealized (Losses)	(5)
12 Months or More, Fair Value	0
12 Months or More, Gross Unrealized (Losses)	0
Total, Fair Value	530
Total, Gross Unrealized (Losses)	(5)
Available-for-sale debt securities \| Residential MBS \| GSE
Available-for-sale debt securities
Less than 12 Months, Fair Value	8,202	5,573
Less than 12 Months, Gross Unrealized (Losses)	(64)	(46)
12 Months or More, Fair Value	1,162	48
12 Months or More, Gross Unrealized (Losses)	(23)	(2)
Total, Fair Value	9,364	5,621
Total, Gross Unrealized (Losses)	(87)	(48)
Available-for-sale debt securities \| Residential MBS \| Government guaranteed
Available-for-sale debt securities
Less than 12 Months, Fair Value		31
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		31
Total, Gross Unrealized (Losses)		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	52	629
Less than 12 Months, Gross Unrealized (Losses)	0	0
12 Months or More, Fair Value	514	617
12 Months or More, Gross Unrealized (Losses)	(94)	(115)
Total, Fair Value	566	1,246
Total, Gross Unrealized (Losses)	(94)	(115)
Held-to-maturity debt securities \| U.S. Government & other government related
Held-to-maturity debt securities
Less than 12 Months, Fair Value		459
Less than 12 Months, Gross Unrealized (Losses)		0
12 Months or More, Fair Value		23
12 Months or More, Gross Unrealized (Losses)		(1)
Total, Fair Value		482
Total, Gross Unrealized (Losses)		(1)
Held-to-maturity debt securities \| State or local housing agency
Held-to-maturity debt securities
Less than 12 Months, Fair Value	2	0
Less than 12 Months, Gross Unrealized (Losses)	0	0
12 Months or More, Fair Value	0	2
12 Months or More, Gross Unrealized (Losses)	0	0
Total, Fair Value	2	2
Total, Gross Unrealized (Losses)	0	0
Held-to-maturity debt securities \| Residential MBS \| GSE
Held-to-maturity debt securities
Less than 12 Months, Fair Value	5
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	5
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	45	170
Less than 12 Months, Gross Unrealized (Losses)	0	0
12 Months or More, Fair Value	24	0
12 Months or More, Gross Unrealized (Losses)	0	0
Total, Fair Value	69	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	490	592
12 Months or More, Gross Unrealized (Losses)	(94)	(114)
Total, Fair Value	490	592
Total, Gross Unrealized (Losses)	$ (94)	$ (114)

Investment Debt Securities (OTT

Investment Debt Securities (OTTI rollforward) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Beginning Balance	$ 427	$ 459	$ 442	$ 477
Reductions:
Securities sold, matured, or fully prepaid over the period	0	0	(1)	0
Increases in cash flows expected to be collected and recognized into interest income	(6)	(8)	(20)	(26)
Ending Balance	$ 421	$ 451	$ 421	$ 451

Advances By redemption terms (D

Advances By redemption terms (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Federal Home Loan Bank, Advances, Maturity, Rolling Year, Par Value Amount [Abstract]
Due in one year or less	$ 24,504
One to two years	2,964
Two to three years	3,000
Three to four years	6,451
Four to five years	7,296
More than five years	12,900
Par value	$ 57,115	$ 52,606
Federal Home Loan Bank, Advances, Weighted Average Contractual Interest Rate, Rolling Year [Abstract]
Due in one year or less	2.06%
One to two years	2.20%
Two to three years	2.36%
Three to four years	2.44%
Four to five years	2.22%
More than five years	2.24%
Par value	2.19%

Advances Reconciliation of par

Advances Reconciliation of par values to carrying values (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Federal Home Loan Banks [Abstract]
Par value	$ 57,115	$ 52,606
Fair value hedging adjustments	469	30
Other adjustments	45	(8)
Advances	$ 57,629	$ 52,628

Advances By counterparty concen

Advances By counterparty concentration (Details) - USD ($) $ in Millions		3 Months Ended
		Sep. 30, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Par value		$ 57,115	$ 52,606
Credit Concentration Risk \| One Mortgage Partners Corp. [Member]
Concentration Risk [Line Items]
Par value	[1]	$ 11,000
% of Total Outstanding		19.30%
Credit Concentration Risk \| BMO Harris Bank, N.A. [Member]
Concentration Risk [Line Items]
Par value		$ 10,975
% of Total Outstanding		19.20%
Credit Concentration Risk \| The Northern Trust Company [Member]
Concentration Risk [Line Items]
Par value		$ 7,700
% of Total Outstanding		13.50%

[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	Sep. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses on MPF Loans	$ (1)	$ (1)
MPF Loans held in portfolio, net	9,004	7,103
Residential Mortgage [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	8,847	6,996
Net premiums, credit enhancement, and/or deferred loan fees	147	100
Fair value and economic hedging adjustments	11	8
MPF Loans held in portfolio, before allowance for credit losses	9,005	7,104
Allowance for credit losses on MPF Loans	(1)	(1)
MPF Loans held in portfolio, net	9,004	7,103
Residential Mortgage [Member] \| Medium term (15 years or less)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	546	334
Residential Mortgage [Member] \| Long term (greater than 15 years)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	8,301	6,662
Residential Mortgage [Member] \| Conventional mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	7,936	6,062
Residential Mortgage [Member] \| Government Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	$ 911	$ 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	Sep. 30, 2019	Dec. 31, 2018
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment	$ 9,053	$ 7,142
Conventional mortgage loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	29	33
Collectively evaluated for impairment	8,093	6,155
Recorded investment	8,122	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	Sep. 30, 2019	Dec. 31, 2018
Financing Receivable, Past Due [Line Items]
Past due	$ 178	$ 182
Current	8,875	6,960
Recorded investment	9,053	7,142
In process of foreclosure	$ 13	$ 19
Serious delinquency rate	0.47%	0.70%
Past due 90 days or more and still accruing interest	$ 18	$ 24
Impaired loans without an allowance for credit losses and on nonaccrual status	29	33
Unpaid principal balance of impaired loans without an allowance for credit losses	32	36
Past due 30-59 days
Financing Receivable, Past Due [Line Items]
Past due	105	101
Past due 60-89 days
Financing Receivable, Past Due [Line Items]
Past due	30	31
Past due 90 days or more
Financing Receivable, Past Due [Line Items]
Past due	43	50
Conventional
Financing Receivable, Past Due [Line Items]
Past due	113	107
Current	8,009	6,081
Recorded investment	8,122	6,188
In process of foreclosure	$ 10	$ 13
Serious delinquency rate	0.35%	0.51%
Past due 90 days or more and still accruing interest	$ 4	$ 5
Impaired loans without an allowance for credit losses and on nonaccrual status	29	33
Unpaid principal balance of impaired loans without an allowance for credit losses	32	36
Conventional \| Past due 30-59 days
Financing Receivable, Past Due [Line Items]
Past due	66	59
Conventional \| Past due 60-89 days
Financing Receivable, Past Due [Line Items]
Past due	19	17
Conventional \| Past due 90 days or more
Financing Receivable, Past Due [Line Items]
Past due	28	31
Government
Financing Receivable, Past Due [Line Items]
Past due	65	75
Current	866	879
Recorded investment	931	954
In process of foreclosure	$ 3	$ 6
Serious delinquency rate	1.53%	1.95%
Past due 90 days or more and still accruing interest	$ 14	$ 19
Government \| Past due 30-59 days
Financing Receivable, Past Due [Line Items]
Past due	39	42
Government \| Past due 60-89 days
Financing Receivable, Past Due [Line Items]
Past due	11	14
Government \| Past due 90 days or more
Financing Receivable, Past Due [Line Items]
Past due	$ 15	$ 19

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Narrative) (Details) $ in Millions	Sep. 30, 2019USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Additional collateral due to derivatives counterparties if credit rating was lowered one level	$ 3
Financial Instruments Owned and Pledged as Collateral, Amount Eligible to be Repledged by Counterparty	$ 471

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities Derivatives in statements of condition (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Notional Amount	$ 56,745	$ 55,971
Derivative assets netting adjustments and cash collateral	(198)	(134)
Derivative liabilities netting adjustments and cash collateral	(460)	(305)
Derivative assets on statements of condition	11	6
Derivative liabilities on statements of condition	18	16
Cash collateral posted and related accrued interest	312	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	35,906	35,549
Derivatives not in hedge accounting relationships-
Derivatives, Fair Value [Line Items]
Notional Amount	20,839	20,422
Derivatives not in hedge accounting relationships- \| Interest rate contracts
Derivatives, Fair Value [Line Items]
Notional Amount	18,934	19,803
Derivatives not in hedge accounting relationships- \| Other
Derivatives, Fair Value [Line Items]
Notional Amount	1,905	619
Derivative Assets
Derivatives, Fair Value [Line Items]
Gross derivative amount before netting adjustments and cash collateral	209	140
Derivative assets netting adjustments and cash collateral	(198)	(134)
Derivative assets on statements of condition	11	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	43	39
Derivative Assets \| Derivatives not in hedge accounting relationships-
Derivatives, Fair Value [Line Items]
Gross derivative amount before netting adjustments and cash collateral	166	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	164	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	478	321
Derivative liabilities netting adjustments and cash collateral	(460)	(305)
Derivative liabilities on statements of condition	18	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	363	261
Derivative Liabilities \| Derivatives not in hedge accounting relationships-
Derivatives, Fair Value [Line Items]
Gross derivative amount before netting adjustments and cash collateral	115	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	111	59
Derivative Liabilities \| Derivatives not in hedge accounting relationships- \| Other
Derivatives, Fair Value [Line Items]
Gross derivative amount before netting adjustments and cash collateral	$ 4	$ 1

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities Derivatives in statement of income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Economic hedges	$ (10)	$ 1	$ (40)	$ (1)
Variation margin on daily settled cleared derivatives	5	0	9	1
Noninterest income - Derivatives and hedging activities	(5)	(5)	(31)	(5)
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Fair value hedges - interest rate contracts		(6)		(6)
Cash flow hedges - interest rate contracts		0		1
Economic hedges	(9)	2	(44)	1
Other
Derivative Instruments, Gain (Loss) [Line Items]
Economic hedges	$ (1)	$ (1)	$ 4	$ (2)

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities Derivative assets with legal right of offset (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivative assets with legal right of offset -
Gross recognized amount	$ 207	$ 139
Derivative assets netting adjustments and cash collateral	(198)	(134)
Derivatives with legal right of offset - net	9	5
Derivatives without legal right of offset	2	1
Derivative assets on statements of condition	11	6
Less:
Noncash collateral received or pledged and cannot be sold or repledged	0	0
Net amount	11	6
Bilateral
Derivative assets with legal right of offset -
Gross recognized amount	136	107
Derivative assets netting adjustments and cash collateral	(134)	(102)
Derivatives with legal right of offset - net	2	5
Derivatives without legal right of offset	2	1
Derivative assets on statements of condition	4	6
Less:
Noncash collateral received or pledged and cannot be sold or repledged	0	0
Net amount	4	6
Cleared
Derivative assets with legal right of offset -
Gross recognized amount	71	32
Derivative assets netting adjustments and cash collateral	(64)	(32)
Derivatives with legal right of offset - net	7	0
Derivatives without legal right of offset	0	0
Derivative assets on statements of condition	7	0
Less:
Noncash collateral received or pledged and cannot be sold or repledged	0	0
Net amount	$ 7	$ 0

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities Derivative liabilities with legal right of offset (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivative liabilities with legal right of offset -
Gross recognized amount	$ 475	$ 320
Derivative liabilities netting adjustments and cash collateral	(460)	(305)
Derivatives with legal right of offset - net	15	15
Derivatives without legal right of offset	3	1
Derivative liabilities on statements of condition	18	16
Less:
Noncash collateral received or pledged and cannot be sold or repledged	4	9
Net amount	14	7
Credit exposure on overcollateralized pledged securities exceeding derivative position	468	260
Bilateral
Derivative liabilities with legal right of offset -
Gross recognized amount	407	279
Derivative liabilities netting adjustments and cash collateral	(396)	(273)
Derivatives with legal right of offset - net	11	6
Derivatives without legal right of offset	3	1
Derivative liabilities on statements of condition	14	7
Less:
Noncash collateral received or pledged and cannot be sold or repledged	0	0
Net amount	14	7
Cleared
Derivative liabilities with legal right of offset -
Gross recognized amount	68	41
Derivative liabilities netting adjustments and cash collateral	(64)	(32)
Derivatives with legal right of offset - net	4	9
Derivatives without legal right of offset	0	0
Derivative liabilities on statements of condition	4	9
Less:
Noncash collateral received or pledged and cannot be sold or repledged	4	9
Net amount	$ 0	$ 0

Derivatives and Hedging Activ_8

Derivatives and Hedging Activities (Fair Value Hedges) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Amount Recorded in Net Interest Income	$ 113	$ 126	$ 347	$ 382
Fair value hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative	(410)	72	(974)	79
Gain (Loss) on Hedged Item	397	(78)	919	(85)
Amount Recorded in Derivatives and Hedging Activities		(6)		(6)
Amount Recorded in Net Interest Income	(13)	(27)	(55)	(72)
Fair value hedges \| Available-for-sale debt securities
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative	(302)	46	(825)	95
Gain (Loss) on Hedged Item	294	(50)	798	(101)
Amount Recorded in Derivatives and Hedging Activities		(4)		(6)
Amount Recorded in Net Interest Income	(8)	(14)	(27)	(44)
Fair value hedges \| Advances
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative	(131)	43	(404)	150
Gain (Loss) on Hedged Item	134	(47)	429	(148)
Amount Recorded in Derivatives and Hedging Activities		(4)		2
Amount Recorded in Net Interest Income	3	6	25	9
Fair value hedges \| MPF Loans held for portfolio
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative	0	0	0	0
Gain (Loss) on Hedged Item	(1)	0	(1)	0
Amount Recorded in Derivatives and Hedging Activities		0		0
Amount Recorded in Net Interest Income	(1)	(1)	(1)	(3)
Fair value hedges \| Consolidated obligation bonds
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative	23	(17)	255	(166)
Gain (Loss) on Hedged Item	(30)	19	(307)	164
Amount Recorded in Derivatives and Hedging Activities		2		(2)
Amount Recorded in Net Interest Income	$ (7)	$ (18)	$ (52)	$ (34)

Derivatives and Hedging Activ_9

Derivatives and Hedging Activities Cumulative Basis Adjustments for Fair Value Hedges (Details) - Fair value hedges $ in Millions	Sep. 30, 2019USD ($)
Advances
Derivative [Line Items]
Amortized cost of hedged asset/(liability)	$ 10,457
Basis adjustments active hedges included in amortized cost	469
Basis adjustments discontinued hedges included in amortized cost	0
Cumulative amount of fair value hedging basis adjustments	469
Available-for-sale debt securities
Derivative [Line Items]
Amortized cost of hedged asset/(liability)	10,894
Basis adjustments active hedges included in amortized cost	947
Basis adjustments discontinued hedges included in amortized cost	1
Cumulative amount of fair value hedging basis adjustments	948
MPF Loans held for portfolio
Derivative [Line Items]
Amortized cost of hedged asset/(liability)	726
Basis adjustments active hedges included in amortized cost	0
Basis adjustments discontinued hedges included in amortized cost	13
Cumulative amount of fair value hedging basis adjustments	13
Consolidated obligation bonds
Derivative [Line Items]
Amortized cost of hedged asset/(liability)	(16,282)
Basis adjustments active hedges included in amortized cost	(112)
Basis adjustments discontinued hedges included in amortized cost	32
Cumulative amount of fair value hedging basis adjustments	$ (80)

Derivatives and Hedging Acti_10

Derivatives and Hedging Activities (Cash Flow Hedges) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 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	$ 2		$ 2
Amount Recorded in Net Interest Income	113	$ 126	347	$ 382
Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gross Amount Initially Recognized in AOCI	(8)		(40)
Amount Reclassified from AOCI into Net Interest Income	(4)		(23)
Ineffectiveness Recorded in Derivatives and Hedging Activities		0		1
Effective Portion Recorded in AOCI		15		103
Amount Recorded in Net Interest Income		(22)		(86)
Cash flow hedges \| Advances
Derivative Instruments, Gain (Loss) [Line Items]
Ineffectiveness Recorded in Derivatives and Hedging Activities				0
Effective Portion Recorded in AOCI				0
Amount Recorded in Net Interest Income				1
Cash flow hedges \| Discount notes
Derivative Instruments, Gain (Loss) [Line Items]
Gross Amount Initially Recognized in AOCI	(8)		(40)
Amount Reclassified from AOCI into Net Interest Income	$ (4)		(22)
Ineffectiveness Recorded in Derivatives and Hedging Activities		0		1
Effective Portion Recorded in AOCI		15		103
Amount Recorded in Net Interest Income		$ (22)		(86)
Cash flow hedges \| Consolidated obligation bonds
Derivative Instruments, Gain (Loss) [Line Items]
Gross Amount Initially Recognized in AOCI			0
Amount Reclassified from AOCI into Net Interest Income			$ (1)
Ineffectiveness Recorded in Derivatives and Hedging Activities				0
Effective Portion Recorded in AOCI				0
Amount Recorded in Net Interest Income				$ (1)

Consolidated Obligations (Short

Consolidated Obligations (Short term discount notes) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Consolidated obligation discount notes	$ 47,647	$ 43,166
Weighted Average Interest Rate	1.91%	2.28%

Consolidated Obligations (Long

Consolidated Obligations (Long term bonds by maturity date) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Contractual Maturity
Due in one year or less	$ 18,387
One to two years	11,365
Two to three years	6,637
Three to four years	2,768
Four to five years	1,806
Thereafter	5,679
Total par value	$ 46,642	$ 42,486
Weighted Average Interest Rate
Due in one year or less	1.94%
One to two years	2.17%
Two to three years	2.31%
Three to four years	2.70%
Four to five years	2.49%
Thereafter	3.08%
Total par value	2.25%
By Maturity or Next Call Date
Contractual Maturity
Due in one year or less	$ 30,437
One to two years	8,891
Two to three years	3,820
Three to four years	2,104
Four to five years	562
Thereafter	828
Total par value	$ 46,642
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	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Par value	$ 46,642	$ 42,486
Fair value hedging adjustments	80	(227)
Other adjustments	16	(9)
Consolidated obligation bonds	46,738	42,250
Noncallable
Debt Instrument [Line Items]
Par value	32,207	27,999
Callable
Debt Instrument [Line Items]
Par value	$ 14,435	$ 14,487

Consolidated Obligations (Syste

Consolidated Obligations (Systemwide joint & several liability) (Details) - Guarantee of Indebtedness of Others [Member] - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Obligation with Joint and Several Liability Arrangement [Line Items]
FHLB System total consolidated obligations	$ 1,010,271	$ 1,031,617
FHLB Chicago as primary obligor	$ 94,375	$ 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	$ 621,082	$ 604,250
FHLB Chicago as primary obligor	$ 46,642	$ 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	$ 389,189	$ 427,367
FHLB Chicago as primary obligor	$ 47,733	$ 43,280
As a percent of the FHLB System	12.00%	10.00%

Capital and Mandatorily Redee_3

Capital and Mandatorily Redeemable Capital Stock (MRCS) (Capital rules) (Details) - $ / shares	9 Months Ended
	Sep. 30, 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	Sep. 30, 2019	Dec. 31, 2018
Federal Home Loan Banks [Abstract]
Total Regulatory Capital, Requirement	$ 4,102	$ 3,714
Total Regulatory Capital, Actual	$ 5,892	$ 5,547
Total Regulatory Capital Ratio, Requirement	4.00%	4.00%
Total Regulatory Capital Ratio, Actual	5.75%	5.97%
Leverage Capital, Requirement	$ 5,127	$ 4,643
Leverage Capital, Actual	$ 8,838	$ 8,321
Leverage Capital Ratio, Requirement	5.00%	5.00%
Leverage Capital Ratio, Actual	8.62%	8.96%
Risk Based Capital, Requirement	$ 1,152	$ 1,111
Risk Based Capital, Actual	$ 5,892	$ 5,547

Capital and Mandatorily Redee_5

Capital and Mandatorily Redeemable Capital Stock (MRCS) Stockholder Concentration (Details) - USD ($) $ in Millions		3 Months Ended
		Sep. 30, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Amount of Which is Classified as a Liability (MRCS)		$ 324	$ 313
Stockholders' Equity, Total [Member] \| BMO Harris Bank, N.A. [Member]
Concentration Risk [Line Items]
Regulatory Capital Stock Outstanding		$ 494
% of Total Outstanding		22.80%
Amount of Which is Classified as a Liability (MRCS)		$ 0
Stockholders' Equity, Total [Member] \| The Northern Trust Company [Member]
Concentration Risk [Line Items]
Regulatory Capital Stock Outstanding		$ 247
% of Total Outstanding		11.40%
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		11.30%
Amount of Which is Classified as a Liability (MRCS)		$ 245

[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	Nov. 14, 2019	Oct. 22, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Capital Stock - Putable - B1 Activity
Subsequent Event [Line Items]
Common Stock Dividend Declared - Annualized Rate			5.00%	4.25%	5.00%	3.92%
Capital Stock - Putable - B2 Membership
Subsequent Event [Line Items]
Common Stock Dividend Declared - Annualized Rate			2.25%	1.70%	2.17%	1.60%
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividend Totaled	$ 24
Dividends on Capital Stock	20
Interest Expense on Mandatorily Redeemable Capital Stock	$ 4
Subsequent Event [Member] \| Capital Stock - Putable - B1 Activity
Subsequent Event [Line Items]
Common Stock Dividend Declared - Annualized Rate		5.00%
Subsequent Event [Member] \| Capital Stock - Putable - B2 Membership
Subsequent Event [Line Items]
Common Stock Dividend Declared - Annualized Rate		2.25%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			$ 55
Amounts reclassified in period to statements of income:
Ending balance	$ (22)		(22)
Total in AOCI
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	41	$ 122	55	$ 112
Change in the period recorded to the statements of condition, before reclassifications to statements of income	(68)	(15)	(102)	(7)
Amounts reclassified in period to statements of income:
Net interest income	4	10	23	13
Noninterest income				(1)
Noninterest expense	1	1	2	1
Ending balance	(22)	118	(22)	118
Net Unrealized - \| Available-for-sale Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	192	315	211	407
Change in the period recorded to the statements of condition, before reclassifications to statements of income	(61)	(32)	(80)	(124)
Amounts reclassified in period to statements of income:
Net interest income	0	0	0	0
Noninterest income
Ending balance	131	283	131	283
Non-credit OTTI - \| Held-to-maturity Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(101)	(128)	(114)	(143)
Change in the period recorded to the statements of condition, before reclassifications to statements of income	7	7	20	22
Amounts reclassified in period to statements of income:
Net interest income	0	0	0	0
Noninterest income
Ending balance	(94)	(121)	(94)	(121)
Net Unrealized - Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(44)	(57)	(31)	(147)
Change in the period recorded to the statements of condition, before reclassifications to statements of income	(8)	15	(40)	103
Amounts reclassified in period to statements of income:
Net interest income	4	10	23	13
Noninterest income				(1)
Ending balance	(48)	(32)	(48)	(32)
Post-Retirement Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(6)	(8)	(11)	(5)
Change in the period recorded to the statements of condition, before reclassifications to statements of income	(6)	(5)	(2)	(8)
Amounts reclassified in period to statements of income:
Noninterest expense	1	1	2	1
Ending balance	$ (11)	$ (12)	$ (11)	$ (12)

Fair Value Fair Value Estimates

Fair Value Fair Value Estimates (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading debt securities	$ 4,496	$ 3,478
Available-for-sale	16,214	14,614
Held-to-maturity debt securities	2,422	3,492
Advances	2,900	1,025
Derivative assets	11	6
Other assets	88	108
Derivative assets netting and cash collateral	(198)	(134)
Assets	102,543	92,857
Consolidated obligation discount notes	0	(992)
Consolidated obligation bonds	(6,639)	(2,352)
Derivative liabilities	(18)	(16)
Derivative liabilities netting and cash collateral	460	305
Liabilities	(96,997)	(87,568)
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks	65	28
Interest bearing deposits	1,255	775
Federal Funds sold and securities purchased under agreements to resell	11,351	10,604
Held-to-maturity debt securities	2,159	3,213
Advances	54,729	51,603
MPF Loans held in portfolio, net	9,000	7,096
Other assets	163	190
Financial assets	102,436	92,748
Other non financial assets	107	109
Assets	102,543	92,857
Deposits	(1,032)	(551)
Consolidated obligation discount notes	(47,647)	(42,174)
Consolidated obligation bonds	(40,099)	(39,898)
Mandatorily redeemable capital stock	(324)	(313)
Other liabilities	(152)	(153)
Financial liabilities	(95,911)	(86,449)
Other non financial liabilities	(1,086)	(1,119)
Liabilities	(96,997)	(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	4,496	3,478
Available-for-sale	16,214	14,614
Advances	2,900	1,025
Derivative assets	11	6
Other assets	88	108
Consolidated obligation discount notes		(992)
Consolidated obligation bonds	(6,639)	(2,352)
Derivative liabilities	(18)	(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	16,177	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	37	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	4	7
Other assets	1	1
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks	65	28
Interest bearing deposits	1,255	775
Federal Funds sold and securities purchased under agreements to resell	11,351	10,604
Held-to-maturity debt securities	2,422	3,492
Advances	54,794	51,615
MPF Loans held in portfolio, net	9,210	7,091
Other assets	163	190
Financial assets	102,974	93,034
Deposits	(1,032)	(551)
Consolidated obligation discount notes	(47,651)	(42,170)
Consolidated obligation bonds	(40,329)	(39,895)
Mandatorily redeemable capital stock	(324)	(313)
Other liabilities	(152)	(153)
Financial liabilities	(96,145)	(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	4,496	3,478
Available-for-sale	16,214	14,614
Advances	2,900	1,025
Derivative assets	11	6
Other assets	88	108
Consolidated obligation discount notes		(992)
Consolidated obligation bonds	(6,639)	(2,352)
Derivative liabilities	(18)	(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	16,177	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	37	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	4	7
Other assets	1	1
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks	65	28
Interest bearing deposits	1,255	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	1,321	803
Deposits	0	0
Consolidated obligation discount notes	0	0
Consolidated obligation bonds	0	0
Mandatorily redeemable capital stock	(324)	(313)
Other liabilities	0	0
Financial liabilities	(324)	(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	1	0
Other assets	0	0
Consolidated obligation discount notes		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	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	11,351	10,604
Held-to-maturity debt securities	1,907	2,870
Advances	54,794	51,615
MPF Loans held in portfolio, net	9,203	7,085
Other assets	163	190
Financial assets	101,287	91,688
Deposits	(1,032)	(551)
Consolidated obligation discount notes	(47,651)	(42,170)
Consolidated obligation bonds	(40,329)	(39,895)
Mandatorily redeemable capital stock	0	0
Other liabilities	(152)	(153)
Financial liabilities	(96,281)	(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	4,496	3,478
Available-for-sale	16,177	14,573
Advances	2,900	1,025
Derivative assets	208	140
Other assets	88	108
Consolidated obligation discount notes		(992)
Consolidated obligation bonds	(6,639)	(2,352)
Derivative liabilities	(478)	(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	16,177	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	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	515	622
Advances	0	0
MPF Loans held in portfolio, net	7	6
Other assets	0	0
Financial assets	564	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	37	41
Advances	0	0
Derivative assets	0	0
Other assets	0	0
Consolidated obligation discount notes		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	37	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	4	7
Other assets	$ 1	$ 1

Fair Value Gains (losses) on fa

Fair Value Gains (losses) on fair value option (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Fair Value, Option, Quantitative Disclosures [Line Items]
Noninterest income - Instruments held under fair value option	$ 24	$ (3)	$ 43	$ (20)
Advances
Fair Value, Option, Quantitative Disclosures [Line Items]
Noninterest income - Instruments held under fair value option	18	(1)	52	(11)
Other assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Noninterest income - Instruments held under fair value option	0	(1)	0	(6)
Consolidated obligation bonds
Fair Value, Option, Quantitative Disclosures [Line Items]
Noninterest income - Instruments held under fair value option	$ 6	$ (1)	$ (9)	$ (3)

Fair Value (Fair Value Option D

Fair Value (Fair Value Option Difference Between Fair Value and Unpaid Principal Balance) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Option, Quantitative Disclosures [Line Items]
Unpaid principal balance, advances	$ 57,115	$ 52,606
Advances, fair value option	2,900	1,025
Unpaid principal balance, bonds	46,642	42,486
Consolidated Obligation Bonds, fair value option	6,639	2,352
Advances
Fair Value, Option, Quantitative Disclosures [Line Items]
Unpaid principal balance, advances	2,857	1,037
Fair value over (under) UPB	43	(12)
Advances, fair value option	2,900	1,025
Consolidated obligation bonds
Fair Value, Option, Quantitative Disclosures [Line Items]
Unpaid principal balance, bonds	6,617	2,358
Fair value over (under) UPB	22	(6)
Consolidated Obligation Bonds, fair value option	$ 6,639	$ 2,352

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Millions		Sep. 30, 2019	Dec. 31, 2018
Commitments
Expire within one year		$ 17,594	$ 20,775
Expire after one year		7,855	4,631
Total		25,449	25,406
Unsettled consolidated obligation bonds
Commitments
Expire within one year		148	114
Expire after one year		0	0
Total		148	114
Member standby letters of credit
Commitments
Expire within one year		16,226	19,971
Expire after one year	[1]	7,527	4,335
Total		23,753	24,306
Portion of member standby letters of credit which were renewable annually		4,800	1,700
Housing authority standby bond purchase agreements
Commitments
Expire within one year		152	84
Expire after one year		298	289
Total		450	373
Advance commitments
Commitments
Expire within one year		9	267
Expire after one year		30	7
Total		39	274
MPF delivery commitments
Commitments
Expire within one year		1,058	336
Expire after one year		0	0
Total		1,058	336
Other
Commitments
Expire within one year		1	3
Expire after one year		0	0
Total		$ 1	$ 3

[1]	Contains $4.8 billion and $1.7 billion of member standby letters of credit as of September 30, 2019 , and December 31, 2018 , which were renewable annually.

Transactions with Related Par_3

Transactions with Related Parties and Other FHLBs (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Accounts With Related Party Transactions [Line Items]
Assets - Advances	$ 57,629	$ 52,628
Liabilities - Deposits	1,032	551
Equity - Capital Stock	1,846	1,698
Transactions with members
Accounts With Related Party Transactions [Line Items]
Assets - Advances	678	665
Liabilities - Deposits	9	6
Equity - Capital Stock	$ 32	$ 27