Federal Home Loan Bank of Boston 10-Q 11 May 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 30, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	000-51402
Entity Registrant Name	FEDERAL HOME LOAN BANK OF BOSTON
Entity Incorporation, State or Country Code	X1
Entity Tax Identification Number	04-6002575
Entity Address, Address Line One	800 Boylston Street,
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02199
City Area Code	(617)
Local Phone Number	292-9600
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		23,997,004
Amendment Flag	false
Entity Central Index Key	0001331463
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1

Statements of Condition (unaudi

Statements of Condition (unaudited) - USD ($) shares in Thousands, $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
ASSETS
Cash and due from banks		$ 6,594	$ 7,593
Interest-bearing deposits		1,248,687	1,485,290
Securities purchased under agreements to resell		8,400,000	0
Federal funds sold		2,301,000	2,706,000
Loans to other FHLBanks		1,000,000	0
Investment securities:
Trading securities		1,586	1,507
Available-for-sale securities (amortized cost of $14,445,782 and $13,977,197 at March 31, 2023 and December 31, 2022, respectively)		14,106,155	13,626,916
Held-to-maturity securities	[1]	93,691	99,068
Total investment securities		14,201,432	13,727,491
Advances	[2]	49,622,282	41,599,581
Mortgage loans held for portfolio, net of allowance for credit losses of $2,000 and $1,900 March 31, 2023 and December 31, 2022, respectively		2,724,612	2,758,429
Accrued interest receivable		157,549	134,268
Derivative assets, net		428,555	430,744
Other assets		72,933	48,153
Total Assets		80,163,644	62,897,549
Deposits
Interest-bearing		852,817	634,502
Non-interest-bearing		19,539	20,985
Total deposits		872,356	655,487
Consolidated obligations (COs):
Bonds		41,669,836	31,565,543
Discount notes		33,448,155	26,975,260
Total consolidated obligations		75,117,991	58,540,803
Mandatorily redeemable capital stock		10,290	10,290
Accrued interest payable		199,753	130,515
Affordable Housing Program (AHP) payable		78,981	76,622
Derivative liabilities, net		4,609	25,640
Other liabilities		64,917	42,871
Total liabilities		76,348,897	59,482,228
Commitments and contingencies (Note 13)
Capital
Capital stock – Class B – putable ($100 par value), 24,044 shares and 20,312 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively		2,404,394	2,031,178
Retained earnings:
Unrestricted		1,305,619	1,290,873
Restricted		411,133	399,695
Total retained earnings		1,716,752	1,690,568
Accumulated other comprehensive loss		(306,399)	(306,425)
Total capital		3,814,747	3,415,321
Total Liabilities and Capital		80,163,644	62,897,549
Available-for-sale securities - amortized cost	[3]	14,445,782	13,977,197
Allowance for credit loss		$ 2,000	$ 1,900
Common Stock, Class B, putable shares issued		24,044	20,312
Common Stock, Class B, putable shares outstanding		24,044	20,312
Common Class B [Member]
Common Stock, Class B, putable par value per share		$ 100	$ 100
[1]Fair values of held-to-maturity securities were $93,420 and $98,591 at March 31, 2023, and December 31, 2022, respectively.[2]Excludes accrued interest receivable of $103.2 million and $72.9 million at March 31, 2023, and December 31, 2022, respectively.[3]Amortized cost of available-for-sale securities includes adjustments made to the cost basis of an investment for accretion, amortization, collection of cash, and fair-value hedge accounting adjustments. Amortized cost excludes accrued interest receivable

Statements of Condition (Parent

Statements of Condition (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Held-to-maturity fair value	$ 93,420	$ 98,591

Statements of Operations (unaud

Statements of Operations (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
INTEREST INCOME
Advances	$ 501,206	$ 33,993
Prepayment fees on advances, net	409	914
Interest-bearing deposits	32,602	160
Securities purchased under agreements to resell	25,681	171
Federal funds sold	52,945	814
Investment securities:
Trading securities	17	534
Available-for-sale securities	167,680	44,733
Held-to-maturity securities	1,062	596
Total investment securities	168,759	45,863
Mortgage loans held for portfolio	21,188	21,528
Other	134	0
Total interest income	802,924	103,443
Consolidated obligations:
Bonds	378,094	43,900
Discount notes	336,683	607
Total consolidated obligations	714,777	44,507
Deposits	6,032	22
Mandatorily redeemable capital stock	192	69
Other borrowings	2	3
Total interest expense	721,003	44,601
NET INTEREST INCOME	81,921	58,842
Provision for (reduction of) credit losses	94	(100)
NET INTEREST INCOME AFTER PROVISION FOR (REDUCTION OF) CREDIT LOSSES	81,827	58,942
OTHER INCOME (LOSS)
Service fees	3,733	2,552
Loss on early extinguishment of debt	0	(432)
Net gains (losses) on trading securities	79	(635)
Net gains (losses) on derivatives	67	(673)
Other, net	485	254
Total other income	4,364	1,066
OTHER EXPENSE
Compensation and benefits	11,212	11,239
Other operating expenses	6,870	6,419
Federal Housing Finance Agency (the FHFA)	1,653	1,089
Office of Finance	1,090	503
AHP voluntary contribution	0	8,525
JNE, HHNE and HOW subsidy expense	772	304
Other	1,032	994
Total other expense	22,629	29,073
INCOME BEFORE ASSESSMENTS	63,562	30,935
AHP assessments	6,375	3,100
NET INCOME	$ 57,187	$ 27,835

Statements of Comprehensive Inc

Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 57,187	$ 27,835
Other comprehensive income:
Net unrealized gains (losses) on available-for-sale securities	10,654	(141,286)
Net unrealized (losses) gains relating to hedging activities	(10,628)	23,496
Pension and postretirement benefits	0	23
Total other comprehensive income (loss)	26	(117,767)
Comprehensive income (loss)	$ 57,213	$ (89,932)

Statements of Capital (unaudite

Statements of Capital (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning of period	$ 3,415,321	$ 2,531,011
Comprehensive income (loss)	57,213	(89,932)
Proceeds from issuance of capital stock	1,680,894	121,860
Repurchase of capital stock	(1,307,678)	(146,016)
Cash dividends on capital stock	(31,003)	(5,136)
Period end	3,814,747	2,411,787
Retained Earnings, Unrestricted
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning of period	1,290,873	1,179,986
Comprehensive income (loss)	45,749	27,835
Cash dividends on capital stock	(31,003)	(5,136)
Period end	1,305,619	1,202,685
Retained Earnings, Restricted
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning of period	399,695	368,420
Comprehensive income (loss)	11,438	0
Period end	411,133	368,420
Retained Earnings, Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning of period	1,690,568	1,548,406
Comprehensive income (loss)	57,187	27,835
Cash dividends on capital stock	(31,003)	(5,136)
Period end	1,716,752	1,571,105
Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning of period	(306,425)	28,967
Comprehensive income (loss)	26	(117,767)
Period end	$ (306,399)	$ (88,800)
Common Class B [Member] | Capital Stock Class B - Putable
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning of period, shares	20,312	9,536
Beginning of period	$ 2,031,178	$ 953,638
Proceeds from issuance of capital stock, shares	16,809	1,219
Proceeds from issuance of capital stock	$ 1,680,894	$ 121,860
Repurchase of capital stock, shares	(13,077)	(1,460)
Repurchase of capital stock	$ (1,307,678)	$ (146,016)
Period end, shares	24,044	9,295
Period end	$ 2,404,394	$ 929,482

Statements of Cash Flows (unaud

Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
OPERATING ACTIVITIES
Net Income	$ 57,187	$ 27,835
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization/(accretion)	40,388	(19,111)
Provision for (reduction of) credit losses	94	(100)
Net change in derivatives and hedging activities	(201,367)	701,734
Loss on early extinguishment of debt	0	432
Other adjustments, net	1,658	768
Net change in:
Market value of trading securities	(79)	635
Accrued interest receivable	(23,281)	6,977
Other assets	2,235	2,654
Accrued interest payable	69,239	1,046
Other liabilities	(937)	(2,266)
Total adjustments	(112,050)	692,769
Net cash (used in) provided by operating activities	(54,863)	720,604
INVESTING ACTIVITIES
Interest-bearing deposits	365,241	(574,908)
Securities purchased under agreements to resell	(8,400,000)	(600,000)
Federal funds sold	405,000	(222,000)
Loans to other FHLBanks	(1,000,000)	0
Trading securities:
Proceeds	0	500,000
Available-for-sale securities:
Proceeds	47,853	256,204
Purchases	(285,672)	(1,225,092)
Held-to-maturity securities:
Proceeds	5,500	22,021
Advances to members:
Repaid	293,011,823	13,981,077
Originated	(300,965,937)	(13,558,193)
Mortgage loans held for portfolio:
Proceeds	55,610	161,799
Purchases	(23,058)	(43,961)
Other investing activities, net	(333)	(91)
Net cash used in investing activities	(16,783,973)	(1,303,144)
FINANCING ACTIVITIES
Net change in deposits	217,319	(80,649)
Net (payments) proceeds on derivatives with a financing element	(11,724)	53,923
Net proceeds from issuance of consolidated obligations:
Discount notes	50,148,452	36,250,813
Bonds	15,914,328	2,091,461
Payments for maturing and retiring consolidated obligations:
Discount notes	(43,725,100)	(35,647,840)
Bonds	(6,047,640)	(2,057,831)
Payment of financing lease	(11)	(11)
Proceeds from issuance of capital stock	1,680,894	121,860
Payments for repurchase of capital stock	(1,307,678)	(146,016)
Payments for redemption of mandatorily redeemable capital stock	0	(144)
Cash dividends paid	(31,003)	(5,136)
Net cash provided by financing activities	16,837,837	580,430
Net decrease in cash and due from banks	(999)	(2,110)
Cash and due from banks at beginning of the period	7,593	204,993	$ 204,993
Cash and due from banks at end of the period	6,594	202,883	7,593
Supplemental disclosures:
Interest paid	602,099	51,546
AHP payments	2,450	3,243	$ 17,683
Noncash transfers of mortgage loans held for portfolio to other assets	92	200
Noncash lease liabilities arising from obtaining right-of-use assets	$ 26,314	$ 0

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Accounting [Text Block]	The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information. In the opinion of management, all adjustments considered necessary have been included. All such adjustments consist of normal recurring accruals. The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. The results of operations for interim periods are not necessarily indicative of the results to be expected for the year ending December 31, 2023. These interim financial statements do not include all the information and footnotes required by GAAP for complete annual financial statements and accordingly should be read in conjunction with the Federal Home Loan Bank of Boston's audited financial statements and related notes in our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission (the SEC) on March 17, 2023 (the 2022 Annual Report). Unless otherwise indicated or the context requires otherwise, all references in this discussion to “the Bank,” "we," "us," "our," or similar references mean the Federal Home Loan Bank of Boston.

Recently Issued and Adopted Acc

Recently Issued and Adopted Accounting Guidance	3 Months Ended
	Mar. 31, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Recently Issued and Adopted Accounting Guidance Effective Beginning in 2020 Facilitation of the Effects of Reference Rate Reform on Financial Reporting. On March 12, 2020, the Financial Accounting Standards Board (FASB) released temporary optional guidance that provides transition relief for reference rate reform. The guidance contains optional expedients and exceptions for applying GAAP to contract modifications, hedging relationships, and other transactions that reference London Interbank Offered Rate (LIBOR) or a reference rate that is expected to be discontinued as a result of reference rate reform if certain criteria are met. This update also provided a one-time election to sell, transfer, or both sell and transfer debt securities classified as held-to-maturity that reference a rate affected by reference rate reform and that were classified as held-to-maturity before January 1, 2020. This standard was effective upon issuance and the provisions generally can be applied prospectively as of January 1, 2020, through December 31, 2024. In 2020, we adopted the provision of this guidance which allowed a one-time election to sell, transfer, or both sell and transfer debt securities classified as held-to-maturity. See Part II — Item 8 — Financial Statements and Supplementary Data — Note 5 — Investments in our Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 19, 2021, for additional information related to these sales and transfers. Also in 2020, we retrospectively elected to adopt the provision of this guidance specific to the modification of interest rates used for the discounting of derivative instruments. This did not have a material effect on our financial condition, results of operations, or cash flows. The remaining provisions of this guidance are not expected to have a material effect on our financial condition, results of operations, and cash flows.

Investments

Investments	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	Investments Interest-Bearing Deposits, Securities Purchased under Agreements to Resell, Federal Funds Sold, and Loans to Other FHLBanks We invest in interest-bearing deposits, securities purchased under agreements to resell, federal funds sold, and loans to other FHLBanks to provide short-term liquidity. These investments are generally transacted with counterparties that have received, or whose guarantors have received, a credit rating of triple-B or greater (investment grade) by a nationally recognized statistical rating organization (NRSRO), or the equivalent. At March 31, 2023, and December 31, 2022, none of these investments were made to counterparties or, if applicable, guaranteed by entities rated below single-A. Securities purchased under agreements to resell are short-term and are structured such that they are evaluated daily to determine if the market value of the underlying securities decreases below the market value required as collateral (i.e. subject to collateral maintenance provisions). If so, the counterparty must place an amount of additional securities as collateral or remit an equivalent amount of cash sufficient to comply with collateral maintenance provisions, generally by the next business day. Based upon the collateral held as security and collateral maintenance provisions with our counterparties, we determined that no allowance for credit losses was needed for our securities purchased under agreements to resell at March 31, 2023, and December 31, 2022. Federal funds sold and loans to other FHLBanks are unsecured loans that are transacted on an overnight term or short-term basis. FHFA regulations include a limit on the amount of unsecured credit we may extend to a counterparty. All investments in interest-bearing deposits, federal funds sold, and loans to other FHLBanks outstanding as of March 31, 2023, and December 31, 2022, have been repaid according to the contractual terms. No allowance for credit losses was recorded for these assets at March 31, 2023, and December 31, 2022. Debt Securities We invest in debt securities, which are classified as either trading, available-for-sale, or held-to-maturity. We are prohibited by FHFA regulations from investing in certain higher-risk securities, such as equity securities and debt instruments that are not investment quality, other than certain investments targeted at low-income persons or communities, but we are not required to divest instruments that experience credit deterioration after their purchase. Trading Securities Table 3.1 - Trading Securities by Major Security Type (dollars in thousands) March 31, 2023 December 31, 2022 Corporate bonds $ 1,586 $ 1,507 Table 3.2 - Net Gains (Losses) on Trading Securities (dollars in thousands) For the Three Months Ended March 31, 2023 2022 Net gains (losses) on trading securities held at period end $ 79 $ (210) Net losses on trading securities sold or matured during the period — (425) Net gains (losses) on trading securities $ 79 $ (635) We do not participate in speculative trading practices and typically hold these investments over a longer time horizon. Available-for-sale Securities Table 3.3 - Available-for-Sale Securities by Major Security Type (dollars in thousands) March 31, 2023 Amounts Recorded in Accumulated Other Comprehensive Income Amortized Cost (1) Unrealized Unrealized Fair Untied States (U.S.) Treasury obligations $ 5,843,157 $ 4,415 $ (11,670) $ 5,835,902 State housing-finance-agency obligations (HFA securities) 34,580 — (1,475) 33,105 Supranational institutions 357,783 60 (3,799) 354,044 U.S. government-owned corporations 261,367 — (26,708) 234,659 Government-sponsored enterprise (GSE) 107,095 — (7,203) 99,892 6,603,982 4,475 (50,855) 6,557,602 Mortgage-backed securities (MBS) U.S. government guaranteed – single-family 18,366 — (2,440) 15,926 U.S. government guaranteed – multifamily 528,837 — (49,993) 478,844 GSE – single-family 1,083,252 3,068 (59,962) 1,026,358 GSE – multifamily 6,211,345 5,604 (189,524) 6,027,425 7,841,800 8,672 (301,919) 7,548,553 Total $ 14,445,782 $ 13,147 $ (352,774) $ 14,106,155 December 31, 2022 Amounts Recorded in Accumulated Other Comprehensive Income Amortized Cost (1) Unrealized Unrealized Fair U.S. Treasury obligations $ 5,732,249 $ 2,784 $ (11,471) $ 5,723,562 HFA securities 34,580 — (1,806) 32,774 Supranational institutions 355,767 33 (5,448) 350,352 U.S. government-owned corporations 253,490 — (26,290) 227,200 GSE 104,530 — (6,864) 97,666 6,480,616 2,817 (51,879) 6,431,554 MBS U.S. government guaranteed – single-family 18,737 — (2,589) 16,148 U.S. government guaranteed – multifamily 531,184 — (54,454) 476,730 GSE – single-family 831,304 251 (66,029) 765,526 GSE – multifamily 6,115,356 322 (178,720) 5,936,958 7,496,581 573 (301,792) 7,195,362 Total $ 13,977,197 $ 3,390 $ (353,671) $ 13,626,916 _______________________ (1) Amortized cost of available-for-sale securities includes adjustments made to the cost basis of an investment for accretion, amortization, collection of cash, and fair-value hedge accounting adjustments. Amortized cost excludes accrued interest receivable Table 3.4 - Available-for-Sale Securities in a Continuous Unrealized Loss Position (dollars in thousands) March 31, 2023 Continuous Unrealized Loss Less than 12 Months Continuous Unrealized Loss 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury obligations $ — $ — $ 3,500,393 $ (11,670) $ 3,500,393 $ (11,670) HFA securities — — 33,105 (1,475) 33,105 (1,475) Supranational institutions — — 341,147 (3,799) 341,147 (3,799) U.S. government-owned corporations — — 234,659 (26,708) 234,659 (26,708) GSE — — 99,892 (7,203) 99,892 (7,203) — — 4,209,196 (50,855) 4,209,196 (50,855) MBS U.S. government guaranteed – single-family 663 (3) 15,263 (2,437) 15,926 (2,440) U.S. government guaranteed – multifamily — — 478,844 (49,993) 478,844 (49,993) GSE – single-family 45,973 (789) 663,376 (59,173) 709,349 (59,962) GSE – multifamily 2,555,728 (39,277) 2,797,693 (150,247) 5,353,421 (189,524) 2,602,364 (40,069) 3,955,176 (261,850) 6,557,540 (301,919) Total $ 2,602,364 $ (40,069) $ 8,164,372 $ (312,705) $ 10,766,736 $ (352,774) December 31, 2022 Continuous Unrealized Loss Less than 12 Months Continuous Unrealized Loss 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury obligations $ 2,792,558 $ (7,428) $ 1,077,821 $ (4,043) $ 3,870,379 $ (11,471) HFA securities 10,383 (77) 22,391 (1,729) 32,774 (1,806) Supranational institutions — — 337,485 (5,448) 337,485 (5,448) U.S. government-owned corporations — — 227,200 (26,290) 227,200 (26,290) GSE — — 97,666 (6,864) 97,666 (6,864) 2,802,941 (7,505) 1,762,563 (44,374) 4,565,504 (51,879) MBS U.S. government guaranteed – single-family 16,148 (2,589) — — 16,148 (2,589) U.S. government guaranteed – multifamily 310,447 (36,177) 166,283 (18,277) 476,730 (54,454) GSE – single-family 657,378 (52,285) 77,892 (13,744) 735,270 (66,029) GSE – multifamily 4,516,466 (124,136) 1,210,970 (54,584) 5,727,436 (178,720) 5,500,439 (215,187) 1,455,145 (86,605) 6,955,584 (301,792) Total $ 8,303,380 $ (222,692) $ 3,217,708 $ (130,979) $ 11,521,088 $ (353,671) Table 3.5 - Available-for-Sale Securities by Contractual Maturity (dollars in thousands) March 31, 2023 December 31, 2022 Year of Maturity Amortized Fair Amortized Fair Due in one year or less $ 252,563 $ 252,619 $ 250,015 $ 250,198 Due after one year through five years 5,538,806 5,527,605 5,011,292 4,998,056 Due after five years through 10 years 484,364 482,459 900,988 897,913 Due after 10 years 328,249 294,919 318,321 285,387 6,603,982 6,557,602 6,480,616 6,431,554 MBS (1) 7,841,800 7,548,553 7,496,581 7,195,362 Total $ 14,445,782 $ 14,106,155 $ 13,977,197 $ 13,626,916 _______________________ (1) MBS are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers of the underlying loans may have the right to call or prepay obligations with or without call or prepayment fees. Held-to-Maturity Securities Table 3.6 - Held-to-Maturity Securities by Major Security Type (dollars in thousands) March 31, 2023 Amortized Cost (1) Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value MBS U.S. government guaranteed – single-family $ 3,504 $ 21 $ — $ 3,525 GSE – single-family 90,187 610 (902) 89,895 Total $ 93,691 $ 631 $ (902) $ 93,420 December 31, 2022 Amortized Cost (1) Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value MBS U.S. government guaranteed – single-family $ 3,614 $ 29 $ — $ 3,643 GSE – single-family 95,454 420 (926) 94,948 Total $ 99,068 $ 449 $ (926) $ 98,591 _______________________ (1) Amortized cost of held-to-maturity securities includes adjustments made to the cost basis of an investment for accretion, amortization, and collection of cash. Amortized cost excludes accrued interest receivable Gains and Losses on Sales. We compute gains and losses on sales of investment securities using the specific identification method and include these gains and losses in other income (loss). The following table summarizes the proceeds from sale and gains and losses on sales of securities for the three months ended March 31, 2022. There were no sales of investment securities during the three months ended March 31, 2023. Table 3.7 - Proceeds and Gains (Losses) from Sales of Investment Securities (dollars in thousands) For the Three Months Ended March 31, 2022 Available-for-Sale Securities Proceeds from sale $ 142,733 Amortized cost, net of allowance for credit losses 142,735 Gross realized gains from sale $ 124 Gross realized losses from sale (126) Realized net loss from sale $ (2) Held-to-Maturity Securities (1) Proceeds from sale $ 10,405 Carrying value 10,385 Gross realized gains from sale $ 22 Gross realized loss from sale (2) Realized net gain from sale $ 20 _______________________ (1) Held-to-maturity securities sold had less than 15 percent of the acquired principal outstanding at the time of sale. Such sales are treated as maturities for the purposes of security classification. The sale does not impact our ability and intent to hold the remaining investments classified as held-to-maturity through their stated maturity dates. Allowance for Credit Losses on Available-for-Sale Securities and Held-to-Maturity Securities We evaluate available-for-sale and held-to-maturity investment securities for credit losses on a quarterly basis. Our available-for-sale and held-to-maturity securities are principally debt securities of GSE or U.S. government-owned corporations, supranational institutions, and state or local housing finance agency obligations, and MBS issued by Government National Mortgage Association (Ginnie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac), and Federal National Mortgage Association (Fannie Mae) that are backed by single-family or multifamily mortgage loans. We only purchase investment-grade securities. At March 31, 2023, and December 31, 2022, all available-for-sale securities and held-to-maturity securities were rated single-A, or above, by an NRSRO, based on the lowest long-term credit rating for each security. We evaluate individual available-for-sale securities for impairment by comparing the security’s fair value to its amortized cost. Impairment may exist when the fair value of the investment is less than its amortized cost (i.e. in an unrealized loss position). At March 31, 2023, and December 31, 2022, certain available-for-sale securities were in an unrealized loss position. These losses are considered temporary as we expect to recover the entire amortized cost basis on these available-for-sale investment securities and we neither intend to sell these securities nor do we consider it more likely than not that we will be required to sell these securities before the anticipated recovery of each security's remaining amortized cost basis. Further, we have not experienced any material payment defaults on the instruments. We evaluate held-to-maturity securities for impairment on a collective or pooled basis unless an individual assessment is deemed necessary because the securities do not possess similar risk characteristics. We have not experienced and do not anticipate any payment defaults on these securities. Based on our assessment of the credit worthiness of the issuers or guarantors, no allowance for credit losses was recorded on available-for-sale securities or held-to-maturity securities at March 31, 2023, or December 31, 2022.

Advances

Advances	3 Months Ended
	Mar. 31, 2023
Advances [Abstract]
Federal Home Loan Bank, Advances [Text Block]	Advances General Terms. At both March 31, 2023, and December 31, 2022, we had advances outstanding with interest rates ranging from 0.00 percent to 6.23 percent, respectively. Table 4.1 - Advances Outstanding by Year of Contractual Maturity (dollars in thousands) March 31, 2023 December 31, 2022 Amount Weighted Amount Weighted Overdrawn demand-deposit accounts $ 611 5.15 % $ 2,000 4.48 % Due in one year or less 26,394,474 4.92 24,563,604 4.26 Due after one year through two years 14,576,454 4.58 10,260,956 4.05 Due after two years through three years 2,666,108 2.81 2,034,070 2.10 Due after three years through four years 917,313 3.25 775,951 2.35 Due after four years through five years 3,232,782 3.64 1,775,923 3.76 Due after five years through fifteen years 1,952,864 2.78 2,377,747 2.53 Thereafter 44,284 1.50 40,525 1.41 Total par value 49,784,890 4.51 % 41,830,776 3.94 % Discounts (35,275) (34,257) Fair value of bifurcated derivatives (1) 1,384 400 Hedging adjustments (128,717) (197,338) Total (2) $ 49,622,282 $ 41,599,581 _________________________ (1) At March 31, 2023, and December 31, 2022, we had certain advances with embedded features that met the requirements to be separated from the host contract and designated as stand-alone derivatives. (2) Excludes accrued interest receivable of $103.2 million and $72.9 million at March 31, 2023, and December 31, 2022, respectively. We offer advances to members and eligible nonmembers that provide the borrower the right, based upon predetermined option exercise dates, to repay the advance prior to maturity without incurring prepayment or termination fees (callable advances). We also offer certain floating-rate advances that may be contractually prepaid by the borrower on a floating-rate reset date without incurring prepayment or termination fees. Other advances may only be prepaid by paying a fee (prepayment fee) that makes us financially indifferent to the prepayment of the advance. Table 4.2 - Advances Outstanding by Year of Contractual Maturity or Next Call Date (dollars in thousands) March 31, 2023 December 31, 2022 Overdrawn demand-deposit accounts $ 611 $ 2,000 Due in one year or less 39,180,769 33,919,899 Due after one year through two years 2,773,579 1,718,681 Due after two years through three years 2,592,708 1,986,570 Due after three years through four years 709,213 711,351 Due after four years through five years 2,530,862 1,078,603 Due after five years through fifteen years 1,952,864 2,373,147 Thereafter 44,284 40,525 Total par value $ 49,784,890 $ 41,830,776 We currently hold putable advances that provide us with the right to require repayment prior to maturity of the advance (and thereby extinguish the advance) on predetermined exercise dates (put dates). Generally, we would exercise the put options when interest rates increase relative to contractual rates. Table 4.3 - Advances Outstanding by Year of Contractual Maturity or Next Put Date (dollars in thousands) March 31, 2023 December 31, 2022 Overdrawn demand-deposit accounts $ 611 $ 2,000 Due in one year or less 28,741,824 25,751,204 Due after one year through two years 14,752,954 10,525,456 Due after two years through three years 2,339,358 2,000,070 Due after three years through four years 877,813 750,951 Due after four years through five years 1,990,282 1,184,423 Due after five years through fifteen years 1,037,764 1,576,147 Thereafter 44,284 40,525 Total par value $ 49,784,890 $ 41,830,776 Table 4.4 - Advances by Current Interest Rate Terms (dollars in thousands) March 31, 2023 December 31, 2022 Fixed-rate $ 36,153,914 $ 31,976,911 Variable-rate 13,630,976 9,853,865 Total par value $ 49,784,890 $ 41,830,776 Credit Risk Exposure and Security Terms. Our advances are primarily made to member financial institutions, including commercial banks, insurance companies, savings institutions, and credit unions. We endeavor to manage our credit exposure to secured member credit products through an integrated approach that generally includes establishing a credit limit for each borrower. This approach includes an ongoing review of each borrower's financial condition, and collateral and lending policies that are intended to limit risk of loss while balancing borrowers' needs for a reliable source of funding. For additional information on credit risk exposure and security terms see Part II — Item 8 — Financial Statements and Supplementary Data — Note 6 — Advances in the 2022 Annual Report. Using a risk-based approach and taking into consideration each borrower's financial strength, we consider the types and level of collateral to be the primary indicator of credit quality on our credit products. At March 31, 2023, and December 31, 2022, we had rights to collateral, on a borrower-by-borrower basis, with an estimated value in excess of our outstanding extensions of credit. We continue to evaluate and make changes to our collateral guidelines based on market conditions. At March 31, 2023, and December 31, 2022, none of our advances were past due, on nonaccrual status, or considered impaired. In addition, there were no modifications for borrowers experiencing financial difficulties related to advances during the three months ended March 31, 2023 and 2022. Based upon the collateral held as security, our credit extension and collateral policies, management's credit analysis, and the repayment history on advances, we have not recorded any allowance for credit losses on our advances at March 31, 2023, and December 31, 2022.

Mortgage Loans Held for Portfol

Mortgage Loans Held for Portfolio	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Mortgage Loans Held for Portfolio [Text Block]	Mortgage Loans Held for PortfolioWe invest in mortgage loans through the Mortgage Partnership Finance® (MPF®) program. These mortgage loans are either guaranteed or insured by federal agencies, as is the case with government mortgage loans, or are credit-enhanced, directly or indirectly, by the related entity that sold the loan (a participating financial institution), as is the case with conventional mortgage loans. All such investments are held for portfolio. Table 5.1 - Mortgage Loans Held for Portfolio (dollars in thousands) March 31, 2023 December 31, 2022 Real estate Fixed-rate 15-year single-family mortgages $ 215,137 $ 224,307 Fixed-rate 20- and 30-year single-family mortgages 2,472,517 2,496,044 Premiums 39,296 40,305 Discounts (1,647) (1,660) Deferred derivative gains, net 1,309 1,333 Total mortgage loans held for portfolio (1) 2,726,612 2,760,329 Less: allowance for credit losses (2,000) (1,900) Total mortgage loans, net of allowance for credit losses $ 2,724,612 $ 2,758,429 ________________________ (1) Excludes accrued interest receivable Table 5.2 - Mortgage Loans Held for Portfolio by Collateral/Guarantee Type (dollars in thousands) March 31, 2023 December 31, 2022 Conventional mortgage loans $ 2,529,344 $ 2,557,230 Government mortgage loans 158,310 163,121 Total par value $ 2,687,654 $ 2,720,351 Credit-Enhancements. Our allowance for credit losses factors in the credit-enhancements associated with conventional mortgage loans under the MPF program. These credit-enhancements apply after the homeowner's equity is exhausted and can include primary and/or supplemental mortgage insurance or other kinds of credit-enhancement. The credit risk analysis of our conventional loans is performed at the individual master commitment level to determine the credit-enhancements available to recover losses on loans under each individual master commitment. For additional information on credit enhancements see Part II — Item 8 — Financial Statements and Supplementary Data — Note 7 — Mortgage Loans Held for Portfolio — Credit-Enhancements in the 2022 Annual Report. Payment Status of Mortgage Loans. Payment status is a key credit quality indicator for conventional mortgage loans and allows us to monitor borrower performance. A past due loan is one where the borrower has failed to make a full payment of principal and interest within 30 days of its due date. Other delinquency statistics include nonaccrual loans and loans in process of foreclosure. Tables 5.3 and 5.4 present the payment status for conventional mortgage loans and other delinquency statistics for all mortgage loans at March 31, 2023, and December 31, 2022. Table 5.3 - Credit Quality Indicator for Conventional Mortgage Loans (dollars in thousands) March 31, 2023 Year of Origination Payment Status at Amortized Cost (1) Prior to 2019 2019 to 2023 Total Past due 30-59 days delinquent $ 12,976 $ 6,638 $ 19,614 Past due 60-89 days delinquent 3,451 649 4,100 Past due 90 days or more delinquent 9,047 1,773 10,820 Total past due 25,474 9,060 34,534 Total current loans 1,271,680 1,259,154 2,530,834 Total conventional mortgage loans $ 1,297,154 $ 1,268,214 $ 2,565,368 December 31, 2022 Year of Origination Payment Status at Amortized Cost (1) Prior to 2018 2018 to 2022 Total Past due 30-59 days delinquent $ 9,640 $ 9,274 $ 18,914 Past due 60-89 days delinquent 2,844 1,554 4,398 Past due 90 days or more delinquent 9,638 5,444 15,082 Total past due 22,122 16,272 38,394 Total current loans 1,161,468 1,394,290 2,555,758 Total conventional mortgage loans $ 1,183,590 $ 1,410,562 $ 2,594,152 _________________________ (1) Amortized cost excludes accrued interest receivable. Table 5.4 - Other Delinquency Statistics of Mortgage Loans (dollars in thousands) March 31, 2023 Amortized Cost in Conventional Mortgage Loans Amortized Cost in Government Mortgage Loans Total In process of foreclosure (1) $ 3,009 $ 827 $ 3,836 Serious delinquency rate (2) 0.43 % 1.42 % 0.49 % Past due 90 days or more still accruing interest $ — $ 2,238 $ 2,238 Loans on nonaccrual status (3) $ 10,820 $ — $ 10,820 December 31, 2022 Amortized Cost in Conventional Mortgage Loans Amortized Cost in Government Mortgage Loans Total In process of foreclosure (1) $ 2,898 $ 891 $ 3,789 Serious delinquency rate (2) 0.58 % 1.42 % 0.63 % Past due 90 days or more still accruing interest $ — $ 2,359 $ 2,359 Loans on nonaccrual status (3) $ 15,246 $ — $ 15,246 _______________________ (1) Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu of foreclosure has been reported. (2) Loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the recorded investment in the total loan portfolio class. (3) As of March 31, 2023, and December 31, 2022, $6.1 million and $8.7 million, respectively, of conventional mortgage loans on nonaccrual status did not have an associated allowance for credit losses because either these loans were charged off or the fair value of the underlying collateral, including any credit enhancements, is greater than the amortized cost of the loans. Allowance for Credit Losses for Mortgage Loans. Conventional Mortgage Loans. Conventional loans are evaluated collectively when similar risk characteristics exist. Conventional loans that do not share risk characteristics with other loans are evaluated for expected credit losses on an individual basis. We determine our allowance for credit losses on conventional loans through analyses that include consideration of various loan portfolio and collateral-related characteristics, such as past performance, current conditions, and reasonable and supportable forecasts of expected economic conditions. We use a discounted cash flow model to project our expected losses. We use a third-party model to project cash flows to estimate the expected credit losses over the life of the loans. The model relies on a number of inputs, such as both current and forecasted property values and interest rates as well as historical borrower behavior. We incorporate associated credit enhancements and expected recoveries, if any, to determine our estimate of expected credit losses. Certain conventional loans may be evaluated for credit losses by using the practical expedient for collateral dependent assets. A mortgage loan is considered collateral dependent when the borrower is experiencing financial difficulty and repayment is expected to be substantially through the sale of the underlying collateral. We estimate the fair value of this collateral by using a third-party property valuation model. The expected credit loss of a collateral dependent mortgage loan is equal to the difference between the amortized cost of the loan and the estimated fair value of the collateral, less estimated selling costs. We will reserve for these estimated losses or record a direct charge-off of the loan balance if certain triggering criteria are met. Table 5.5 presents a roll forward of the allowance for credit losses on conventional mortgage loans for the three months ended March 31, 2023 and 2022. Table 5.5 - Allowance for Credit Losses on Conventional Mortgage Loans (dollars in thousands) For the Three Months Ended March 31, 2023 2022 Allowance for credit losses (1) Balance, beginning of period $ 1,900 $ 1,700 Recoveries 6 — Provision for (reduction of) credit losses 94 (100) Balance, end of period $ 2,000 $ 1,600 _________________________ (1) These amounts exclude government mortgage loans because we make no allowance for credit losses based on our investments in government mortgage loans, as discussed below under — Government Mortgage Loans Held for Portfolio. Government Mortgage Loans Held for Portfolio. We invest in government mortgage loans secured by one- to four-family residential properties. Government mortgage loans are mortgage loans insured or guaranteed by the Federal Housing Administration (the FHA), the U.S. Department of Veterans Affairs (the VA), the Rural Housing Service of the U.S. Department of Agriculture (RHS), or by the U.S. Department of Housing and Urban Development (HUD). The servicer provides and maintains insurance or a guarantee from the applicable government agency. The servicer is responsible for compliance with all government agency requirements and for obtaining the benefit of the applicable insurance or guaranty with respect to defaulted government-guaranteed mortgage loans. Any losses incurred on these loans that are not recovered from the insurer or guarantor are absorbed by the related servicer. Therefore, we only have credit risk for these loans if the servicer fails to pay for losses not covered by insurance or guarantees, but in such instances we would have recourse against the servicer for such failure. Due to government guarantees or insurance on our government loans, there is no allowance for credit losses for the government mortgage loan portfolio as of March 31, 2023, and December 31, 2022. Additionally, government mortgage loans are not placed on nonaccrual status due to the government guarantee or insurance on these loans and the contractual obligation of the loan servicers to repurchase their related loans when certain criteria are met. "Mortgage Partnership Finance," "MPF," "eMPF" and "MPF Xtra" are registered trademarks of the Federal Home Loan Bank of Chicago.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities [Text Block]	Derivatives and Hedging Activities Table 6.1 - Fair Value of Derivative Instruments (dollars in thousands) March 31, 2023 December 31, 2022 Notional Derivative Derivative Notional Derivative Derivative Derivatives designated as hedging instruments Interest-rate swaps $ 43,017,909 $ 28,495 $ (1,224,202) $ 38,356,160 $ 47,000 $ (1,394,051) Forward-start interest-rate swaps 1,391,000 — (2,239) 1,391,000 756 (40) Total derivatives designated as hedging instruments 44,408,909 28,495 (1,226,441) 39,747,160 47,756 (1,394,091) Derivatives not designated as hedging instruments Interest-rate swaps 102,000 — (1,231) 107,000 1 (226) CO bond firm commitments 15,000 27 — 35,000 50 — Mortgage-delivery commitments (1) 16,919 67 (12) 3,454 47 (2) Total derivatives not designated as hedging instruments 133,919 94 (1,243) 145,454 98 (228) Total notional amount of derivatives $ 44,542,828 $ 39,892,614 Total derivatives before netting and collateral adjustments 28,589 (1,227,684) 47,854 (1,394,319) Netting adjustments and cash collateral, including related accrued interest (2) 399,966 1,223,075 382,890 1,368,679 Derivative assets and derivative liabilities $ 428,555 $ (4,609) $ 430,744 $ (25,640) _______________________ (1) Mortgage-delivery commitments are classified as derivatives with changes in fair value recorded in other income. (2) Amounts represent the effect of master-netting agreements intended to allow us to settle positive and negative positions with the same counterparty. Cash collateral posted, including accrued interest, was $1.6 billion and $1.8 billion at March 31, 2023, and December 31, 2022, respectively. The change in cash collateral posted is included in the net change in interest-bearing deposits in the statement of cash flows. Cash collateral received, including accrued interest, was $450 thousand at March 31, 2023. Changes in fair value of the derivative hedging instrument and the hedged item attributable to the hedged risk for designated fair-value hedges are recorded in net interest income in the same line as the earnings effect of the hedged item. For designated cash-flow hedges, the entire change in the fair value of the hedging instrument (assuming it is included in the assessment of hedge effectiveness) is reported in other comprehensive income until the hedged transaction affects earnings. At that time, this amount is reclassified from other comprehensive income and recorded in net interest income in the same line as the earnings effect of the hedged item. Tables 6.2 presents the net gains (losses) on qualifying fair-value hedging relationships. Gains (losses) on derivatives include unrealized changes in fair value as well as net interest settlements. Table 6.2 - Net Gains (Losses) on Fair Value Hedging Relationships (dollars in thousands) For the Three Months Ended March 31, 2023 Advances Available-for-sale Securities CO Bonds Total interest income (expense) in the statements of operations $ 501,206 $ 167,680 $ (378,094) Gains (losses) on hedging relationships Changes in fair value: Derivatives $ (68,586) $ (233,315) $ 241,907 Hedged items 67,518 227,211 (242,057) Net changes in fair value before price alignment interest (1,068) (6,104) (150) Price alignment interest (1) (1,754) (10,058) 283 Net interest settlements on derivatives (2)(3) 28,455 97,226 (140,810) Net gains (losses) on qualifying hedging relationships 25,633 81,064 (140,677) Amortization/accretion of discontinued hedging relationships (512) — 526 Net gains (losses) on derivatives and hedging activities recorded in net interest income $ 25,121 $ 81,064 $ (140,151) For the Three Months Ended March 31, 2022 Advances Available-for-sale Securities CO Bonds Total interest income (expense) in the statements of operations $ 33,993 $ 44,733 $ (43,900) Gains (losses) on hedging relationships Changes in fair value: Derivatives $ 95,849 $ 636,682 $ (569,233) Hedged items (94,496) (622,340) 569,710 Net changes in fair value before price alignment interest 1,353 14,342 477 Price alignment interest (1) (22) (51) 2 Net interest settlements on derivatives (2)(3) (9,926) (37,391) 26,791 Net (losses) gains on qualifying hedging relationships (8,595) (23,100) 27,270 Amortization/accretion of discontinued hedging relationships (263) — 502 Net (losses) gains on derivatives and hedging activities recorded in net interest income $ (8,858) $ (23,100) $ 27,772 _______________________ (1) Relates to derivatives for which variation margin payments are characterized as daily settled contracts. (2) Represents interest income/expense on derivatives in qualifying fair-value hedging relationships. Net interest settlements on derivatives that are not in qualifying fair-value hedging relationships are reported in other income. (3) Excludes the interest income/expense of the respective hedged items recorded in net interest income. Tables 6.3 presents the net gains (losses) on qualifying cash flow hedging relationships. Table 6.3 - Net Gains (Losses) on Cash Flow Hedging Relationships (dollars in thousands) For the Three Months Ended March 31, 2023 2022 Forward-start interest rate swaps - CO Bonds Losses reclassified from accumulated other comprehensive loss into interest expense $ (1,127) $ (1,438) (Losses) gains recognized in other comprehensive income (11,755) 22,058 For the three months ended March 31, 2023 and 2022, there were no reclassifications from accumulated other comprehensive income into earnings as a result of the discontinuance of cash-flow hedges because the original forecasted transactions were not expected to occur by the end of the originally specified time period or within a two-month period thereafter. As of March 31, 2023, the maximum length of time over which we are hedging our exposure to the variability in future cash flows for forecasted transactions is eight years. As of March 31, 2023, the amount of deferred net losses on derivatives accumulated in other comprehensive income related to cash flow hedges expected to be reclassified to earnings during the next 12 months is $4.3 million. Table 6.4 - Cumulative Basis Adjustments for Fair-Value Hedges (dollars in thousands) March 31, 2023 Line Item in Statement of Condition Amortized Cost of Hedged Asset/ Liability (1) Cumulative Basis Adjustments for Active Hedging Relationships Included in Amortized Cost Cumulative Basis Adjustments for Discontinued Hedging Relationships Included in Amortized Cost Cumulative Amount of Fair Value Hedging Basis Adjustments Advances $ 5,681,843 $ (131,431) $ 2,714 $ (128,717) Available-for-sale securities 11,521,459 (963,044) — (963,044) Consolidated obligation bonds 23,503,416 (1,140,752) 28,978 (1,111,774) _______________________ (1) Includes only the amortized cost of hedged items in fair-value hedging relationships. Impacts on Statement of Cash Flows. Cash paid or received for cleared derivatives variation margin is included on the statement of cash flows in either net change in derivatives and hedging activities as an operating activity or net payments on derivatives with a financing element, as a financing activity. The table below shows the impact of variation margin for cleared derivatives on the statement of cash flows: Table 6.5 - Impact of Variation Margin for Cleared Derivatives on the Statement of Cash Flows (dollars in thousands) Increase (decrease) on Cash Flow Statement For the Three Months Ended March 31, 2023 2022 Operating activity - net change in derivatives and hedging activities $ (126,571) $ 700,104 Financing activity - net (payments) proceeds on derivatives with a financing element (3,666) 65,795 Total variation margin (posted) received on cleared derivatives $ (130,237) $ 765,899 Managing Credit Risk on Derivatives. We enter into derivatives that we clear (cleared derivatives) with a derivatives clearing organization (DCO), our counterparty for such derivatives. We also enter into derivatives that are not cleared (uncleared derivatives) under master-netting agreements. Currently derivatives that contain any optionality are not eligible for clearing. Accordingly, such derivatives, including the derivatives used to hedge issuance of callable CO bonds, are executed with our uncleared derivatives counterparties. Certain of our uncleared derivatives master-netting agreements contain provisions that require us to post additional collateral with our uncleared derivatives counterparties if our credit ratings are lowered. Under the terms that govern such agreements, if our credit rating is lowered by Moody's Investors Service Inc. (Moody's) or Standard & Poor’s Financial Services LLC (S&P) to a certain level, we are required to deliver additional collateral on uncleared derivatives. In the event of a split between such credit ratings, the lower rating governs. The aggregate fair value of all uncleared derivatives with these provisions that were in a net-liability position (before cash collateral and related accrued interest) at March 31, 2023, was $749.4 million for which we had delivered collateral with a post-haircut value of $753.2 million in accordance with the terms of the master-netting agreements. Securities collateral is subject to valuation haircuts in accordance with the terms of the master-netting arrangements. Table 6.6 sets forth the post-haircut value of incremental collateral that certain uncleared derivatives counterparties could have required us to deliver based on incremental credit rating downgrades at March 31, 2023. Table 6.6 - Post Haircut Value of Incremental Collateral to be Delivered as of March 31, 2023 (dollars in thousands) Ratings Downgrade (1) From To Incremental Collateral AA+ AA or AA- $ — AA- A+, A or A- — A- below A- 37,181 _______________________ (1) Ratings are expressed in this table according to S&P's conventions but include the equivalent of such rating by Moody's. If there is a split rating, the lower rating is used. For cleared derivatives, the DCO is our counterparty. The DCO notifies the clearing member of the required initial and variation margin and our agent (clearing member) in turn notifies us. We utilize one of two DCOs, for each cleared derivative transaction, Chicago Mercantile Exchange, Inc. (CME Inc.) or LCH Limited (LCH Ltd). Based upon their rulebooks, we characterize variation margin payments as daily settlement payments, rather than as collateral. At both DCOs, posted initial margin is considered collateral. We post initial margin and exchange variation margin through a clearing member of the DCO which clears our trades, acts as our agent to the DCO and guarantees our performance to the DCO, subject to the terms of relevant agreements. These arrangements expose us to credit risk in the event that one of our clearing members or one of the DCOs fails to meet its obligations. The use of cleared derivatives is intended to mitigate credit risk exposure because the DCO, which is fully secured at all times through margin received from its clearing members, is substituted for the credit risk exposure of individual counterparties in uncleared derivatives, and collateral is posted at least once daily for changes in the fair value of cleared derivatives through a clearing member. For cleared derivatives, the DCO determines initial margin requirements. Our clearing members, which are U.S. Commodity Futures Trading Commission-registered futures commission merchants, may require us to post margin in excess of DCO requirements based on our credit or other considerations, including but not limited to, credit rating downgrades. We were not required to post any such excess margin by our clearing members based on credit or any other considerations at March 31, 2023. Offsetting of Certain Derivatives. We present derivatives, any related cash collateral received or pledged, and associated accrued interest, on a net basis by counterparty. We have analyzed the rights, rules, and regulations governing our cleared and uncleared derivatives and determined that those rights, rules, and regulations should result in a net claim with each of our counterparties (which, in the context of cleared derivatives is through each of our clearing members with the related DCO) upon an event of default of our counterparty (solely in the case of uncleared derivatives) or the bankruptcy, insolvency or a similar proceeding involving our counterparty (and/or one of our clearing members, in the case of cleared derivatives). For this purpose, "net claim" generally means a single net amount reflecting the aggregation of all amounts owed by us to the relevant counterparty and payable to us from the relevant counterparty. Table 6.7 presents separately the fair value of derivatives that are subject to netting due to a legal right of offset based on the terms of our master netting arrangements or similar agreements as of March 31, 2023, and December 31, 2022, and the fair value of derivatives that are not subject to such netting. Derivatives subject to netting include any related cash collateral received from or pledged to counterparties. Table 6.7 - Netting of Derivative Assets and Derivative Liabilities (dollars in thousands) March 31, 2023 Derivative Instruments Meeting Netting Requirements Gross Recognized Amount Gross Amounts of Netting Adjustments (1) Derivative Instruments Not Meeting Netting Requirements Total Derivative Assets and Total Derivative Liabilities Derivative Assets Interest-rate swaps Uncleared $ 27,958 $ (24,142) $ 3,816 Cleared 537 424,108 424,645 CO bond firm commitments $ 27 27 Mortgage delivery commitments 67 67 Total $ 428,555 Derivative Liabilities Interest-rate swaps Uncleared $ (1,198,465) $ 1,193,868 $ (4,597) Cleared (29,207) 29,207 — Mortgage delivery commitments $ (12) (12) Total $ (4,609) December 31, 2022 Derivative Instruments Meeting Netting Requirements Gross Recognized Amount Gross Amounts of Netting Adjustments (1) Derivative Instruments Not Meeting Netting Requirements Total Derivative Assets and Total Derivative Liabilities Derivative Assets Interest-rate swaps Uncleared $ 23,782 $ (23,782) $ — Cleared 23,975 406,672 430,647 CO bond firm commitments $ 50 50 Mortgage delivery commitment 47 47 Total $ 430,744 Derivative Liabilities Interest-rate swaps Uncleared $ (1,393,633) $ 1,367,995 $ (25,638) Cleared (684) 684 — Mortgage delivery commitment $ (2) (2) Total $ (25,640) _______________________ (1) Includes gross amounts of netting adjustments and cash collateral.

Deposits

Deposits	3 Months Ended
	Mar. 31, 2023
Deposits [Abstract]
Deposits [Text Block]	Deposits We offer demand and overnight deposits for members and qualifying nonmembers. Members that service mortgage loans may deposit funds collected in connection with mortgage loans pending disbursement of such funds to the owners of the mortgage loans, which we classify as "other" in the following table. Table 7.1 - Deposits (dollars in thousands) March 31, 2023 December 31, 2022 Interest-bearing Demand and overnight $ 852,817 $ 632,635 Other — 1,867 Noninterest-bearing Other 19,539 20,985 Total deposits $ 872,356 $ 655,487

Consolidated Obligations

Consolidated Obligations	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Consolidated Obligations [Text Block]	Consolidated Obligations CO Bonds. CO bonds for which we have received issuance proceeds and are primarily liable were as follows: Table 8.1 - CO Bonds Outstanding by Contractual Maturity (dollars in thousands) March 31, 2023 December 31, 2022 Amount Weighted Average Rate (1) Amount Weighted Average Rate (1) Due in one year or less $ 17,946,400 4.37 % $ 10,616,385 3.15 % Due after one year through two years 7,458,500 2.53 5,321,650 1.85 Due after two years through three years 5,808,340 1.92 4,993,600 1.70 Due after three years through four years 5,455,450 1.39 5,951,355 1.10 Due after four years through five years 2,342,400 3.23 2,099,000 2.24 Thereafter 3,745,255 2.31 3,916,865 2.09 Total par value 42,756,345 3.09 % 32,898,855 2.17 % Premiums 35,114 27,902 Discounts (9,849) (8,033) Hedging adjustments (1,111,774) (1,353,181) Total $ 41,669,836 $ 31,565,543 _______________________ (1) The CO bonds' weighted-average rate excludes concession fees. Table 8.2 - CO Bonds Outstanding by Call Feature (dollars in thousands) March 31, 2023 December 31, 2022 Noncallable and nonputable $ 22,109,655 $ 15,039,805 Callable 20,646,690 17,859,050 Total par value $ 42,756,345 $ 32,898,855 Table 8.3 - CO Bonds Outstanding by Contractual Maturity or Next Call Date (dollars in thousands) March 31, 2023 December 31, 2022 Due in one year or less $ 34,583,900 $ 26,319,885 Due after one year through two years 2,710,500 1,843,150 Due after two years through three years 2,229,340 1,952,600 Due after three years through four years 1,254,950 1,370,355 Due after four years through five years 849,400 438,000 Thereafter 1,128,255 974,865 Total par value $ 42,756,345 $ 32,898,855 Table 8.4 - CO Bonds by Interest Rate-Payment Type (dollars in thousands) March 31, 2023 December 31, 2022 Fixed-rate $ 26,760,955 $ 22,667,605 Simple variable-rate 9,865,000 4,200,000 Step-up (1) 6,130,390 6,031,250 Total par value $ 42,756,345 $ 32,898,855 _______________________ (1) Step-up bonds pay interest at increasing fixed rates for specified intervals over the life of the CO bond and can be called at our option on the step-up dates. CO Discount Notes. Outstanding CO discount notes for which we were primarily liable, all of which are due within one year, were as follows: Table 8.5 - CO Discount Notes Outstanding (dollars in thousands) Book Value Par Value Weighted Average Rate (1) March 31, 2023 $ 33,448,155 $ 33,671,951 4.79 % December 31, 2022 $ 26,975,260 $ 27,109,244 4.22 % _______________________ (1) CO discount notes' weighted-average rate represents a yield to maturity excluding concession fees.

Affordable Housing Program

Affordable Housing Program	3 Months Ended
	Mar. 31, 2023
Affordable Housing Program AHP [Abstract]
Affordable Housing Program [Text Block]	Affordable Housing Program Table 9.1 - AHP Liability (dollars in thousands) March 31, 2023 December 31, 2022 Balance at beginning of year $ 76,622 $ 70,503 AHP expense for the period 6,375 20,521 AHP voluntary contribution — 5,479 AHP direct grant disbursements (2,450) (17,683) AHP subsidy for AHP advance disbursements (1,566) (3,155) Return of previously disbursed grants and subsidies — 957 Balance at end of period $ 78,981 $ 76,622

Capital

Capital	3 Months Ended
	Mar. 31, 2023
Banking Regulation, Total Capital [Abstract]
Capital [Text Block]	Capital We are subject to capital requirements under our capital plan, the Federal Home Loan Bank Act of 1932 (as amended, the FHLBank Act), and FHFA regulations and guidance: 1. Risk-based capital. We are required to maintain at all times permanent capital, defined as the amounts paid-in for Class B stock and retained earnings, in an amount at least equal to the sum of our credit-risk capital requirement, market-risk capital requirement, and operational-risk capital requirement, calculated in accordance with FHFA rules and regulations, referred to herein as the risk-based capital requirement. 2. Total regulatory capital. We are required to maintain at all times a total capital-to-assets ratio of at least four percent. Total regulatory capital is the sum of permanent capital, the amount of any general loss allowance if consistent with GAAP and not established for specific assets, and other amounts from sources determined by the FHFA as available to absorb losses. 3. Leverage capital. We are required to maintain at all times a leverage capital-to-assets ratio of at least five percent. Leverage capital is calculated by multiplying permanent capital by 1.5 and adding to this product all other components of total capital. The FHFA has authority to require us to maintain a greater amount of permanent capital than is required as defined by the risk-based capital requirements. Table 10.1 - Regulatory Capital Requirements (dollars in thousands) Risk-Based Capital Requirements March 31, December 31, Permanent capital Class B capital stock $ 2,404,394 $ 2,031,178 Mandatorily redeemable capital stock 10,290 10,290 Retained earnings 1,716,752 1,690,568 Total permanent capital $ 4,131,436 $ 3,732,036 Risk-based capital requirement Credit-risk capital $ 138,477 $ 130,875 Market-risk capital 282,391 225,813 Operations-risk capital 126,260 107,006 Total risk-based capital requirement $ 547,128 $ 463,694 Permanent capital in excess of risk-based capital requirement $ 3,584,308 $ 3,268,342 March 31, 2023 December 31, 2022 Required Actual Required Actual Capital Ratio Risk-based capital $ 547,128 $ 4,131,436 $ 463,694 $ 3,732,036 Total regulatory capital $ 3,206,546 $ 4,131,436 $ 2,515,902 $ 3,732,036 Total capital-to-asset ratio 4.0 % 5.2 % 4.0 % 5.9 % Leverage Ratio Leverage capital $ 4,008,182 $ 6,197,154 $ 3,144,877 $ 5,598,054 Leverage capital-to-assets ratio 5.0 % 7.7 % 5.0 % 8.9 % We are a cooperative whose members own most of our capital stock. Former members, including certain nonmembers that own our capital stock as a result of merger or acquisition, relocation, or involuntary termination of membership, own the remaining capital stock to support business transactions still carried on our statement of condition or, for a small amount of capital stock held by former members, until the five-year redemption period applicable to their membership stock is complete. Shares of capital stock cannot be purchased or sold except between us and our members at $100 per share par value. Each member is required to purchase Class B stock equal to 0.05 percent of the value of the member's total assets measured as of December 31 of the preceding year, subject to a current minimum balance of $10 thousand and a current maximum balance of $5 million (the membership stock investment requirement), and 3.00 percent for overnight advances, 4.00 percent for all other advances, 0.25 percent for outstanding letters of credit, and 4.50 percent of the par value of certain mortgage we purchased through the MPF program (collectively, the activity-based stock-investment requirement). The sum of the membership stock investment requirement and the activity-based stock investment requirement, rounded up to the nearest whole share, represents the total stock investment requirement. Restricted Retained Earnings. At March 31, 2023, our total required contribution to the restricted retained earnings account was $669.0 million. At March 31, 2023, and December 31, 2022, restricted retained earnings totaled $411.1 million and $399.7 million, respectively. These restricted retained earnings are not available to pay dividends.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss) [Text Block]	Accumulated Other Comprehensive Income (Loss) Table 11.1 - Accumulated Other Comprehensive Income (Loss) (dollars in thousands) Net Unrealized Gain (Loss) on Available-for-sale Securities Net Unrealized Gain (Loss) Relating to Hedging Activities Pension and Postretirement Benefits Total Balance, December 31, 2021 $ 58,013 $ (26,291) $ (2,755) $ 28,967 Other comprehensive income (loss) before reclassifications: Net unrealized (losses) gains (141,288) 22,058 — (119,230) Reclassifications from other comprehensive income to net income Reclassification of realized net loss included in net income (1) 2 — — 2 Amortization - hedging activities (2) — 1,438 — 1,438 Amortization - pension and postretirement benefits (3) — — 23 23 Other comprehensive (loss) income (141,286) 23,496 23 (117,767) Balance, March 31, 2022 $ (83,273) $ (2,795) $ (2,732) $ (88,800) Balance, December 31, 2022 $ (350,281) $ 42,482 $ 1,374 $ (306,425) Other comprehensive income (loss) before reclassifications: Net unrealized gains (losses) 10,654 (11,755) — (1,101) Reclassifications from other comprehensive income to net income Amortization - hedging activities (2) — 1,127 — 1,127 Other comprehensive income (loss) 10,654 (10,628) — 26 Balance, March 31, 2023 $ (339,627) $ 31,854 $ 1,374 $ (306,399) _______________________ (1) Recorded in other, net in the statement of operations. (2) Recorded in CO bond interest expense. (3) Recorded in other expenses in the statement of operations.

Fair Values

Fair Values	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value [Text Block]	Fair Values A fair-value hierarchy is used to prioritize the inputs of valuation techniques used to measure fair value. A description of the application of the fair-value hierarchy, valuation techniques, and significant inputs is disclosed in Part II — Item 8 — Financial Statements and Supplementary Data — Note 15 — Fair Values in the 2022 Annual Report. There have been no material changes in the fair-value hierarchy classification of financial assets and liabilities, valuation techniques, or significant inputs during the three months ended March 31, 2023. Table 12.1 presents the carrying value, fair value, and fair value hierarchy of our financial assets and liabilities at March 31, 2023, and December 31, 2022. We record trading securities, available-for-sale securities, derivative assets, derivative liabilities, and certain other assets at fair value on a recurring basis and certain mortgage loans, and certain other assets at fair value on a non-recurring basis. We record all other financial assets and liabilities at amortized cost. Refer to Table 12.2 for further details about the financial assets and liabilities held at fair value on either a recurring or non-recurring basis. Table 12.1 - Fair Value Summary (dollars in thousands) March 31, 2023 Carrying Total Fair Value Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (2) Financial instruments Assets: Cash and due from banks $ 6,594 $ 6,594 $ 6,594 $ — $ — $ — Interest-bearing deposits 1,248,687 1,248,687 1,248,687 — — — Securities purchased under agreements to resell 8,400,000 8,399,975 — 8,399,975 — — Federal funds sold 2,301,000 2,300,998 — 2,300,998 — — Trading securities (1) 1,586 1,586 — 1,586 — — Available-for-sale securities (1) 14,106,155 14,106,155 — 14,073,050 33,105 — Held-to-maturity securities 93,691 93,420 — 93,420 — — Advances 49,622,282 49,429,312 — 49,429,312 — — Mortgage loans, net 2,724,612 2,484,005 — 2,466,556 17,449 — Loans to other FHLBanks 1,000,000 999,999 — 999,999 — — Accrued interest receivable 157,549 157,549 — 157,549 — — Derivative assets (1) 428,555 428,555 — 28,589 — 399,966 Other assets (1) 26,286 26,286 12,041 14,245 — — Liabilities: Deposits (872,356) (872,273) — (872,273) — — COs: Bonds (41,669,836) (41,201,760) — (41,201,760) — — Discount notes (33,448,155) (33,447,343) — (33,447,343) — — Mandatorily redeemable capital stock (10,290) (10,290) (10,290) — — — Accrued interest payable (199,753) (199,753) — (199,753) — — Derivative liabilities (1) (4,609) (4,609) — (1,227,684) — 1,223,075 Other: Commitments to extend credit for advances — (8,034) — (8,034) — — Standby letters of credit (1,293) (1,293) — (1,293) — — December 31, 2022 Carrying Total Fair Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (2) Financial instruments Assets: Cash and due from banks $ 7,593 $ 7,593 $ 7,593 $ — $ — $ — Interest-bearing deposits 1,485,290 1,485,290 1,485,290 — — — Federal funds sold 2,706,000 2,705,992 — 2,705,992 — — Trading securities (1) 1,507 1,507 — 1,507 — — Available-for-sale securities (1) 13,626,916 13,626,916 — 13,594,142 32,774 — Held-to-maturity securities 99,068 98,591 — 98,591 — — Advances 41,599,581 41,378,357 — 41,378,357 — — Mortgage loans, net 2,758,429 2,483,271 — 2,462,257 21,014 — Accrued interest receivable 134,268 134,268 — 134,268 — — Derivative assets (1) 430,744 430,744 — 47,854 — 382,890 Other assets (1) 25,504 25,504 11,950 13,554 — — Liabilities: Deposits (655,487) (655,425) — (655,425) — — COs: Bonds (31,565,543) (30,981,391) — (30,981,391) — — Discount notes (26,975,260) (26,972,926) — (26,972,926) — — Mandatorily redeemable capital stock (10,290) (10,290) (10,290) — — — Accrued interest payable (130,515) (130,515) — (130,515) — — Derivative liabilities (1) (25,640) (25,640) — (1,394,319) — 1,368,679 Other: Commitments to extend credit for advances — (13,327) — (13,327) — — Standby letters of credit (1,168) (1,168) — (1,168) — — _______________________ (1) Carried at fair value and measured on a recurring basis. (2) These amounts represent the effect of master-netting agreements intended to allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing member and/or counterparty. Fair Value Measured on a Recurring and Nonrecurring Basis. Table 12.2 - Fair Value of Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis (dollars in thousands) March 31, 2023 Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (1) Total Assets: Carried at fair value on a recurring basis Trading securities: Corporate bonds $ — $ 1,586 $ — $ — $ 1,586 Total trading securities — 1,586 — — 1,586 Available-for-sale securities: U.S. Treasury obligations — 5,835,902 — — 5,835,902 HFA securities — — 33,105 — 33,105 Supranational institutions — 354,044 — — 354,044 U.S. government-owned corporations — 234,659 — — 234,659 GSE — 99,892 — — 99,892 U.S. government guaranteed – single-family MBS — 15,926 — — 15,926 U.S. government guaranteed – multifamily MBS — 478,844 — — 478,844 GSE – single-family MBS — 1,026,358 — — 1,026,358 GSE – multifamily MBS — 6,027,425 — — 6,027,425 Total available-for-sale securities — 14,073,050 33,105 — 14,106,155 Derivative assets: Interest-rate-exchange agreements — 28,495 — 399,966 428,461 CO Bond firm commitments — 27 — — 27 Mortgage delivery commitments — 67 — — 67 Total derivative assets — 28,589 — 399,966 428,555 Other assets 12,041 14,245 — — 26,286 Total assets carried at fair value on a recurring basis $ 12,041 $ 14,117,470 $ 33,105 $ 399,966 $ 14,562,582 Liabilities: Carried at fair value on a recurring basis Derivative liabilities Interest-rate-exchange agreements $ — $ (1,227,672) $ — $ 1,223,075 $ (4,597) Mortgage delivery commitments — (12) — — (12) Total liabilities carried at fair value on a recurring basis $ — $ (1,227,684) $ — $ 1,223,075 $ (4,609) December 31, 2022 Level 1 Level 2 Level 3 Netting (1) Total Assets: Carried at fair value on a recurring basis Trading securities: Corporate bonds $ — $ 1,507 $ — $ — $ 1,507 Total trading securities — 1,507 — — 1,507 Available-for-sale securities: U.S. Treasury obligations — 5,723,562 — — 5,723,562 HFA securities — — 32,774 — 32,774 Supranational institutions — 350,352 — — 350,352 U.S. government-owned corporations — 227,200 — — 227,200 GSE — 97,666 — — 97,666 U.S. government guaranteed – single-family MBS — 16,148 — — 16,148 U.S. government guaranteed – multifamily MBS — 476,730 — — 476,730 GSE – single-family MBS — 765,526 — — 765,526 GSE – multifamily MBS — 5,936,958 — — 5,936,958 Total available-for-sale securities — 13,594,142 32,774 — 13,626,916 Derivative assets: Interest-rate-exchange agreements — 47,757 — 382,890 430,647 CO Bond firm commitments — 50 — — 50 Mortgage delivery commitments — 47 — — 47 Total derivative assets — 47,854 — 382,890 430,744 Other assets 11,950 13,554 — — 25,504 Total assets carried at fair value on a recurring basis $ 11,950 $ 13,657,057 $ 32,774 $ 382,890 $ 14,084,671 Carried at fair value on a nonrecurring basis (2) Mortgage loans held for portfolio $ — $ — $ 90 $ — $ 90 Total assets carried at fair value on a nonrecurring basis $ — $ — $ 90 $ — $ 90 Liabilities: Carried at fair value on a recurring basis Derivative liabilities Interest-rate-exchange agreements $ — $ (1,394,317) $ — $ 1,368,679 $ (25,638) Mortgage delivery commitments — (2) — — (2) Total liabilities carried at fair value on a recurring basis $ — $ (1,394,319) $ — $ 1,368,679 $ (25,640) _______________________ (1) These amounts represent the effect of master-netting agreements intended to allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing member and/or counterparty. (2) We measure certain mortgage loans held for portfolio at fair value on a nonrecurring basis, that is, they are not measured at fair value on an ongoing basis but are subject to fair-value adjustments only in certain circumstances. The fair values presented are as of the date the fair value adjustment was recorded. Table 12.3 presents a reconciliation of available-for-sale securities that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2023 and 2022. Table 12.3 - Roll Forward of Level 3 Available-for-Sale Securities (dollars in thousands) For the Three Months Ended March 31, 2023 2022 HFA Securities HFA Securities Balance at beginning of period $ 32,774 $ 62,265 Total gains (losses) included in other comprehensive income Net unrealized gains (losses) 331 (821) Balance at end of period $ 33,105 $ 61,444 Total amount of unrealized gains (losses) for the period included in other comprehensive income relating to securities held at period end $ 331 $ (821)

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies [Text Block]	Commitments and Contingencies Joint and Several Liability. COs are backed by the financial resources of the 11 district Federal Home Loan Banks (the FHLBanks or the FHLBank System). The FHFA has authority to require any FHLBank to repay all or a portion of the principal and interest on COs for which another FHLBank is the primary obligor. No FHLBank has ever been asked or required to repay the principal or interest on any CO on behalf of another FHLBank. We evaluate the financial condition of the other FHLBanks primarily based on known regulatory actions, publicly available financial information, and individual long-term credit-rating action as of each period-end presented. Based on this evaluation, as of March 31, 2023, and through the filing of this report, we do not believe it is likely that we will be required to repay the principal or interest on any CO on behalf of another FHLBank. We have considered applicable FASB guidance and determined it is not necessary to recognize a liability for the fair value of our joint and several liability for all of the COs. The joint and several obligation is mandated by the FHLBank Act, as implemented by FHFA regulations, and is not the result of an arms-length transaction among the FHLBanks. The FHLBanks have no control over the amount of the guaranty or the determination of how each FHLBank would perform under the joint and several obligation. Because the FHLBanks are subject to the authority of the FHFA as it relates to decisions involving the allocation of the joint and several liability for the FHLBanks' COs, the FHLBanks' joint and several obligation is excluded from the initial recognition and measurement provisions. Accordingly, we have not recognized a liability for our joint and several obligation related to other FHLBanks' COs at March 31, 2023, and December 31, 2022. The par amounts of other FHLBanks' outstanding COs for which we are jointly and severally liable totaled $1.4 trillion and $1.1 trillion at March 31, 2023, and December 31, 2022, respectively. See Note 8 — Consolidated Obligations for additional information. Off-Balance-Sheet Commitments Table 13.1 - Off-Balance Sheet Commitments (1) (dollars in thousands) March 31, 2023 December 31, 2022 Expire within one year Expire after one year Total Expire within one year Expire after one year Total Standby letters of credit outstanding (2) $ 9,463,137 $ 165,535 $ 9,628,672 $ 10,148,761 $ 77,521 $ 10,226,282 Commitments for unused lines of credit - advances (3) 1,146,950 — 1,146,950 1,123,269 — 1,123,269 Commitments to make additional advances 209,455 21,442 230,897 57,024 29,010 86,034 Commitments to invest in mortgage loans 16,919 — 16,919 3,454 — 3,454 Unsettled CO bonds, at par 242,000 — 242,000 172,140 — 172,140 Unsettled CO discount notes, at par — — — 32,480 — 32,480 __________________________ (1) We have determined that it is unnecessary to record any liability for credit losses on these agreements. (2) The amount of standby letters of credit outstanding excludes commitments to issue standby letters of credit that expire within one year. At March 31, 2023, and December 31, 2022, these amounts totaled $750 thousand and $22.0 million, respectively. Also, excluded are commitments to issue standby letters of credit that expire after one year totaling $42.6 million at March 31, 2023. (3) Commitments for unused line-of-credit advances are generally for periods of up to 12 months. Since many of these commitments are not expected to be drawn upon, the total commitment amount does not necessarily indicate future liquidity requirements. Standby Letters of Credit. For a fee we issue standby letters of credit on behalf of our members to support certain obligations of the members to third-party beneficiaries. These standby letters of credit are generally subject to the same collateralization and borrowing limits similar to advances. Standby letters of credit may be offered to assist members and nonmember housing associates in facilitating residential housing finance, community lending, and asset-liability management, and to provide liquidity. In particular, members often use standby letters of credit as collateral for deposits from state and local government agencies. If we are required to make payment for a beneficiary's draw, our strategy is to take prompt action to recover the funds paid to the third-party beneficiary, including converting the payment amount into a collateralized advance to the primary obligor, withdrawing the payment amount from the primary obligor's demand deposit account with us, or selling collateral pledged by the primary obligor in a commercially reasonable manner to offset the payment amount. Historically, standby letters of credit usually expire without being drawn upon. At March 31, 2023, the outstanding standby letters of credit issued expire no later than 2032. Currently, we offer new standby letters of credit with terms typically up to 10 years, while terms greater than 10 years may be available on an exception basis. Unearned fees for the value of the guarantees related to standby letters of credit are recorded in other liabilities and totaled $1.3 million and $1.2 million at March 31, 2023, and December 31, 2022, respectively. Commitments to Invest in Mortgage Loans. Commitments to invest in mortgage loans are generally for periods not to exceed 60 business days. Such commitments are recorded as derivatives at their fair values on the statement of condition. Pledged Collateral. We have pledged securities as collateral related to derivatives. See Note 6 — Derivatives and Hedging Activities for additional information about our pledged collateral and other credit-risk-related contingent features. Legal Proceedings . We are subject to various legal proceedings arising in the normal course of business from time to time. We would record an accrual for a loss contingency when it is probable that a loss has been incurred and the amount can be reasonably estimated. Management does not anticipate that the ultimate liability, if any, arising out of these matters will have a material effect on our financial condition, results of operations, or cash flows.

Transactions with Shareholders

Transactions with Shareholders	3 Months Ended
	Mar. 31, 2023
Transactions with Shareholders [Abstract]
Transactions with Shareholders [Text Block]	Transactions with Shareholders Shareholder Concentrations. We consider shareholder concentrations as holdings of capital stock (including mandatorily redeemable capital stock) by individual members or nonmembers in excess of 10 percent of total capital stock outstanding at each period end. Table 14.1 - Shareholder Concentrations, Balance Sheet (dollars in thousands) Capital Stock Percent Par Percent of Total Par Value Total Accrued Percent of Total March 31, 2023 Citizens Bank, N.A. $ 533,583 22.1 % $ 11,779,001 23.7 % $ 15,867 15.4 % Webster Bank, N.A. 359,918 14.9 8,560,461 17.2 23,895 23.2 December 31, 2022 Citizens Bank, N.A. $ 363,769 17.8 % $ 8,519,007 20.4 % $ 5,662 7.8 % Webster Bank, N.A. 221,408 10.8 5,460,552 13.1 9,942 13.6 We held sufficient collateral to support the advances to the above institutions such that we do not expect to incur any credit losses on these advances. Transactions with Directors' Institutions. We provide, in the ordinary course of business, products and services to members whose officers or directors serve on our board of directors. In accordance with FHFA regulations, transactions with directors' institutions are conducted on the same terms as those with any other member. Table 14.2 - Transactions with Directors' Institutions (dollars in thousands) Capital Stock Percent Par Percent of Total Par Value Total Accrued Percent of Total March 31, 2023 $ 546,773 22.6 % $ 12,022,849 24.1 % $ 16,089 15.6 % December 31, 2022 374,123 18.3 8,683,521 20.8 5,803 8.0

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Subsequent EventsOn April 21, 2023, the board of directors declared a cash dividend at an annualized rate of 7.55 percent based on daily average capital stock balances outstanding during the first quarter of 2023. The dividend, including dividends classified as interest on mandatorily redeemable capital stock, amounted to $40.0 million and was paid on May 2, 2023.

Basis of Presentation - Summary

Basis of Presentation - Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Investment, Policy [Policy Text Block]	Gains and Losses on Sales. We compute gains and losses on sales of investment securities using the specific identification method and include these gains and losses in other income (loss).
Credit Loss, Financial Instrument, Policy [Policy Text Block]	Allowance for Credit Losses on Available-for-Sale Securities and Held-to-Maturity SecuritiesWe evaluate available-for-sale and held-to-maturity investment securities for credit losses on a quarterly basis.
Derivatives, Policy [Policy Text Block]	Changes in fair value of the derivative hedging instrument and the hedged item attributable to the hedged risk for designated fair-value hedges are recorded in net interest income in the same line as the earnings effect of the hedged item. For designated cash-flow hedges, the entire change in the fair value of the hedging instrument (assuming it is included in the assessment of hedge effectiveness) is reported in other comprehensive income until the hedged transaction affects earnings. At that time, this amount is reclassified from other comprehensive income and recorded in net interest income in the same line as the earnings effect of the hedged item.Managing Credit Risk on Derivatives. We enter into derivatives that we clear (cleared derivatives) with a derivatives clearing organization (DCO), our counterparty for such derivatives. We also enter into derivatives that are not cleared (uncleared derivatives) under master-netting agreements.We utilize one of two DCOs, for each cleared derivative transaction, Chicago Mercantile Exchange, Inc. (CME Inc.) or LCH Limited (LCH Ltd). Based upon their rulebooks, we characterize variation margin payments as daily settlement payments, rather than as collateral. At both DCOs, posted initial margin is considered collateral.
Fair Value of Financial Instruments, Policy [Policy Text Block]	We record trading securities, available-for-sale securities, derivative assets, derivative liabilities, and certain other assets at fair value on a recurring basis and certain mortgage loans, and certain other assets at fair value on a non-recurring basis. We record all other financial assets and liabilities at amortized cost.
Joint and Several Liability Policy [Policy Text Block]	We evaluate the financial condition of the other FHLBanks primarily based on known regulatory actions, publicly available financial information, and individual long-term credit-rating action as of each period-end presented.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block]	Table 3.1 - Trading Securities by Major Security Type (dollars in thousands) March 31, 2023 December 31, 2022 Corporate bonds $ 1,586 $ 1,507
Gain (Loss) on Securities [Table Text Block]	Table 3.2 - Net Gains (Losses) on Trading Securities (dollars in thousands) For the Three Months Ended March 31, 2023 2022 Net gains (losses) on trading securities held at period end $ 79 $ (210) Net losses on trading securities sold or matured during the period — (425) Net gains (losses) on trading securities $ 79 $ (635)
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	Table 3.3 - Available-for-Sale Securities by Major Security Type (dollars in thousands) March 31, 2023 Amounts Recorded in Accumulated Other Comprehensive Income Amortized Cost (1) Unrealized Unrealized Fair Untied States (U.S.) Treasury obligations $ 5,843,157 $ 4,415 $ (11,670) $ 5,835,902 State housing-finance-agency obligations (HFA securities) 34,580 — (1,475) 33,105 Supranational institutions 357,783 60 (3,799) 354,044 U.S. government-owned corporations 261,367 — (26,708) 234,659 Government-sponsored enterprise (GSE) 107,095 — (7,203) 99,892 6,603,982 4,475 (50,855) 6,557,602 Mortgage-backed securities (MBS) U.S. government guaranteed – single-family 18,366 — (2,440) 15,926 U.S. government guaranteed – multifamily 528,837 — (49,993) 478,844 GSE – single-family 1,083,252 3,068 (59,962) 1,026,358 GSE – multifamily 6,211,345 5,604 (189,524) 6,027,425 7,841,800 8,672 (301,919) 7,548,553 Total $ 14,445,782 $ 13,147 $ (352,774) $ 14,106,155 December 31, 2022 Amounts Recorded in Accumulated Other Comprehensive Income Amortized Cost (1) Unrealized Unrealized Fair U.S. Treasury obligations $ 5,732,249 $ 2,784 $ (11,471) $ 5,723,562 HFA securities 34,580 — (1,806) 32,774 Supranational institutions 355,767 33 (5,448) 350,352 U.S. government-owned corporations 253,490 — (26,290) 227,200 GSE 104,530 — (6,864) 97,666 6,480,616 2,817 (51,879) 6,431,554 MBS U.S. government guaranteed – single-family 18,737 — (2,589) 16,148 U.S. government guaranteed – multifamily 531,184 — (54,454) 476,730 GSE – single-family 831,304 251 (66,029) 765,526 GSE – multifamily 6,115,356 322 (178,720) 5,936,958 7,496,581 573 (301,792) 7,195,362 Total $ 13,977,197 $ 3,390 $ (353,671) $ 13,626,916 _______________________ (1) Amortized cost of available-for-sale securities includes adjustments made to the cost basis of an investment for accretion, amortization, collection of cash, and fair-value hedge accounting adjustments. Amortized cost excludes accrued interest receivable
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value [Table Text Block]	Table 3.4 - Available-for-Sale Securities in a Continuous Unrealized Loss Position (dollars in thousands) March 31, 2023 Continuous Unrealized Loss Less than 12 Months Continuous Unrealized Loss 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury obligations $ — $ — $ 3,500,393 $ (11,670) $ 3,500,393 $ (11,670) HFA securities — — 33,105 (1,475) 33,105 (1,475) Supranational institutions — — 341,147 (3,799) 341,147 (3,799) U.S. government-owned corporations — — 234,659 (26,708) 234,659 (26,708) GSE — — 99,892 (7,203) 99,892 (7,203) — — 4,209,196 (50,855) 4,209,196 (50,855) MBS U.S. government guaranteed – single-family 663 (3) 15,263 (2,437) 15,926 (2,440) U.S. government guaranteed – multifamily — — 478,844 (49,993) 478,844 (49,993) GSE – single-family 45,973 (789) 663,376 (59,173) 709,349 (59,962) GSE – multifamily 2,555,728 (39,277) 2,797,693 (150,247) 5,353,421 (189,524) 2,602,364 (40,069) 3,955,176 (261,850) 6,557,540 (301,919) Total $ 2,602,364 $ (40,069) $ 8,164,372 $ (312,705) $ 10,766,736 $ (352,774) December 31, 2022 Continuous Unrealized Loss Less than 12 Months Continuous Unrealized Loss 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury obligations $ 2,792,558 $ (7,428) $ 1,077,821 $ (4,043) $ 3,870,379 $ (11,471) HFA securities 10,383 (77) 22,391 (1,729) 32,774 (1,806) Supranational institutions — — 337,485 (5,448) 337,485 (5,448) U.S. government-owned corporations — — 227,200 (26,290) 227,200 (26,290) GSE — — 97,666 (6,864) 97,666 (6,864) 2,802,941 (7,505) 1,762,563 (44,374) 4,565,504 (51,879) MBS U.S. government guaranteed – single-family 16,148 (2,589) — — 16,148 (2,589) U.S. government guaranteed – multifamily 310,447 (36,177) 166,283 (18,277) 476,730 (54,454) GSE – single-family 657,378 (52,285) 77,892 (13,744) 735,270 (66,029) GSE – multifamily 4,516,466 (124,136) 1,210,970 (54,584) 5,727,436 (178,720) 5,500,439 (215,187) 1,455,145 (86,605) 6,955,584 (301,792) Total $ 8,303,380 $ (222,692) $ 3,217,708 $ (130,979) $ 11,521,088 $ (353,671)
Investments Classified by Contractual Maturity Date [Table Text Block]	Table 3.5 - Available-for-Sale Securities by Contractual Maturity (dollars in thousands) March 31, 2023 December 31, 2022 Year of Maturity Amortized Fair Amortized Fair Due in one year or less $ 252,563 $ 252,619 $ 250,015 $ 250,198 Due after one year through five years 5,538,806 5,527,605 5,011,292 4,998,056 Due after five years through 10 years 484,364 482,459 900,988 897,913 Due after 10 years 328,249 294,919 318,321 285,387 6,603,982 6,557,602 6,480,616 6,431,554 MBS (1) 7,841,800 7,548,553 7,496,581 7,195,362 Total $ 14,445,782 $ 14,106,155 $ 13,977,197 $ 13,626,916 _______________________ (1) MBS are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers of the underlying loans may have the right to call or prepay obligations with or without call or prepayment fees.
Debt Securities, Held-to-maturity [Table Text Block]	Table 3.6 - Held-to-Maturity Securities by Major Security Type (dollars in thousands) March 31, 2023 Amortized Cost (1) Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value MBS U.S. government guaranteed – single-family $ 3,504 $ 21 $ — $ 3,525 GSE – single-family 90,187 610 (902) 89,895 Total $ 93,691 $ 631 $ (902) $ 93,420 December 31, 2022 Amortized Cost (1) Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value MBS U.S. government guaranteed – single-family $ 3,614 $ 29 $ — $ 3,643 GSE – single-family 95,454 420 (926) 94,948 Total $ 99,068 $ 449 $ (926) $ 98,591 _______________________ (1) Amortized cost of held-to-maturity securities includes adjustments made to the cost basis of an investment for accretion, amortization, and collection of cash. Amortized cost excludes accrued interest receivable
Realized Gain (Loss) on Investments [Table Text Block]	Table 3.7 - Proceeds and Gains (Losses) from Sales of Investment Securities (dollars in thousands) For the Three Months Ended March 31, 2022 Available-for-Sale Securities Proceeds from sale $ 142,733 Amortized cost, net of allowance for credit losses 142,735 Gross realized gains from sale $ 124 Gross realized losses from sale (126) Realized net loss from sale $ (2) Held-to-Maturity Securities (1) Proceeds from sale $ 10,405 Carrying value 10,385 Gross realized gains from sale $ 22 Gross realized loss from sale (2) Realized net gain from sale $ 20 _______________________ (1) Held-to-maturity securities sold had less than 15 percent of the acquired principal outstanding at the time of sale. Such sales are treated as maturities for the purposes of security classification. The sale does not impact our ability and intent to hold the remaining investments classified as held-to-maturity through their stated maturity dates.

Advances (Tables)

Advances (Tables)	3 Months Ended
	Mar. 31, 2023
Advances [Abstract]
Advances [Table Text Block]	Table 4.1 - Advances Outstanding by Year of Contractual Maturity (dollars in thousands) March 31, 2023 December 31, 2022 Amount Weighted Amount Weighted Overdrawn demand-deposit accounts $ 611 5.15 % $ 2,000 4.48 % Due in one year or less 26,394,474 4.92 24,563,604 4.26 Due after one year through two years 14,576,454 4.58 10,260,956 4.05 Due after two years through three years 2,666,108 2.81 2,034,070 2.10 Due after three years through four years 917,313 3.25 775,951 2.35 Due after four years through five years 3,232,782 3.64 1,775,923 3.76 Due after five years through fifteen years 1,952,864 2.78 2,377,747 2.53 Thereafter 44,284 1.50 40,525 1.41 Total par value 49,784,890 4.51 % 41,830,776 3.94 % Discounts (35,275) (34,257) Fair value of bifurcated derivatives (1) 1,384 400 Hedging adjustments (128,717) (197,338) Total (2) $ 49,622,282 $ 41,599,581 _________________________ (1) At March 31, 2023, and December 31, 2022, we had certain advances with embedded features that met the requirements to be separated from the host contract and designated as stand-alone derivatives. (2) Excludes accrued interest receivable of $103.2 million and $72.9 million at March 31, 2023, and December 31, 2022, respectively. Table 4.2 - Advances Outstanding by Year of Contractual Maturity or Next Call Date (dollars in thousands) March 31, 2023 December 31, 2022 Overdrawn demand-deposit accounts $ 611 $ 2,000 Due in one year or less 39,180,769 33,919,899 Due after one year through two years 2,773,579 1,718,681 Due after two years through three years 2,592,708 1,986,570 Due after three years through four years 709,213 711,351 Due after four years through five years 2,530,862 1,078,603 Due after five years through fifteen years 1,952,864 2,373,147 Thereafter 44,284 40,525 Total par value $ 49,784,890 $ 41,830,776 Table 4.3 - Advances Outstanding by Year of Contractual Maturity or Next Put Date (dollars in thousands) March 31, 2023 December 31, 2022 Overdrawn demand-deposit accounts $ 611 $ 2,000 Due in one year or less 28,741,824 25,751,204 Due after one year through two years 14,752,954 10,525,456 Due after two years through three years 2,339,358 2,000,070 Due after three years through four years 877,813 750,951 Due after four years through five years 1,990,282 1,184,423 Due after five years through fifteen years 1,037,764 1,576,147 Thereafter 44,284 40,525 Total par value $ 49,784,890 $ 41,830,776 Table 4.4 - Advances by Current Interest Rate Terms (dollars in thousands) March 31, 2023 December 31, 2022 Fixed-rate $ 36,153,914 $ 31,976,911 Variable-rate 13,630,976 9,853,865 Total par value $ 49,784,890 $ 41,830,776

Mortgage Loans Held for Portf_2

Mortgage Loans Held for Portfolio (Tables)	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Mortgage Loans Held for Portfolio [Table Text Block]	Table 5.1 - Mortgage Loans Held for Portfolio (dollars in thousands) March 31, 2023 December 31, 2022 Real estate Fixed-rate 15-year single-family mortgages $ 215,137 $ 224,307 Fixed-rate 20- and 30-year single-family mortgages 2,472,517 2,496,044 Premiums 39,296 40,305 Discounts (1,647) (1,660) Deferred derivative gains, net 1,309 1,333 Total mortgage loans held for portfolio (1) 2,726,612 2,760,329 Less: allowance for credit losses (2,000) (1,900) Total mortgage loans, net of allowance for credit losses $ 2,724,612 $ 2,758,429 ________________________ (1) Excludes accrued interest receivable Table 5.2 - Mortgage Loans Held for Portfolio by Collateral/Guarantee Type (dollars in thousands) March 31, 2023 December 31, 2022 Conventional mortgage loans $ 2,529,344 $ 2,557,230 Government mortgage loans 158,310 163,121 Total par value $ 2,687,654 $ 2,720,351
Financing Receivable Credit Quality Indicators [Table Text Block]	Table 5.3 - Credit Quality Indicator for Conventional Mortgage Loans (dollars in thousands) March 31, 2023 Year of Origination Payment Status at Amortized Cost (1) Prior to 2019 2019 to 2023 Total Past due 30-59 days delinquent $ 12,976 $ 6,638 $ 19,614 Past due 60-89 days delinquent 3,451 649 4,100 Past due 90 days or more delinquent 9,047 1,773 10,820 Total past due 25,474 9,060 34,534 Total current loans 1,271,680 1,259,154 2,530,834 Total conventional mortgage loans $ 1,297,154 $ 1,268,214 $ 2,565,368 December 31, 2022 Year of Origination Payment Status at Amortized Cost (1) Prior to 2018 2018 to 2022 Total Past due 30-59 days delinquent $ 9,640 $ 9,274 $ 18,914 Past due 60-89 days delinquent 2,844 1,554 4,398 Past due 90 days or more delinquent 9,638 5,444 15,082 Total past due 22,122 16,272 38,394 Total current loans 1,161,468 1,394,290 2,555,758 Total conventional mortgage loans $ 1,183,590 $ 1,410,562 $ 2,594,152 _________________________
Amortized Cost/Recorded Investment in Delinquent Mortgage Loans [Table Text Block]	Table 5.4 - Other Delinquency Statistics of Mortgage Loans (dollars in thousands) March 31, 2023 Amortized Cost in Conventional Mortgage Loans Amortized Cost in Government Mortgage Loans Total In process of foreclosure (1) $ 3,009 $ 827 $ 3,836 Serious delinquency rate (2) 0.43 % 1.42 % 0.49 % Past due 90 days or more still accruing interest $ — $ 2,238 $ 2,238 Loans on nonaccrual status (3) $ 10,820 $ — $ 10,820 December 31, 2022 Amortized Cost in Conventional Mortgage Loans Amortized Cost in Government Mortgage Loans Total In process of foreclosure (1) $ 2,898 $ 891 $ 3,789 Serious delinquency rate (2) 0.58 % 1.42 % 0.63 % Past due 90 days or more still accruing interest $ — $ 2,359 $ 2,359 Loans on nonaccrual status (3) $ 15,246 $ — $ 15,246 _______________________ (1) Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu of foreclosure has been reported. (2) Loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the recorded investment in the total loan portfolio class. (3) As of March 31, 2023, and December 31, 2022, $6.1 million and $8.7 million, respectively, of conventional mortgage loans on nonaccrual status did not have an associated allowance for credit losses because either these loans were charged off or the fair value of the underlying collateral, including any credit enhancements, is greater than the amortized cost of the loans.
Rollforward of Allowance for Credit Losses on Mortgage Loans [Table Text Block]	Table 5.5 presents a roll forward of the allowance for credit losses on conventional mortgage loans for the three months ended March 31, 2023 and 2022. Table 5.5 - Allowance for Credit Losses on Conventional Mortgage Loans (dollars in thousands) For the Three Months Ended March 31, 2023 2022 Allowance for credit losses (1) Balance, beginning of period $ 1,900 $ 1,700 Recoveries 6 — Provision for (reduction of) credit losses 94 (100) Balance, end of period $ 2,000 $ 1,600 _________________________ (1) These amounts exclude government mortgage loans because we make no allowance for credit losses based on our investments in government mortgage loans, as discussed below under — Government Mortgage Loans Held for Portfolio.

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Instruments [Table Text Block]	Table 6.1 - Fair Value of Derivative Instruments (dollars in thousands) March 31, 2023 December 31, 2022 Notional Derivative Derivative Notional Derivative Derivative Derivatives designated as hedging instruments Interest-rate swaps $ 43,017,909 $ 28,495 $ (1,224,202) $ 38,356,160 $ 47,000 $ (1,394,051) Forward-start interest-rate swaps 1,391,000 — (2,239) 1,391,000 756 (40) Total derivatives designated as hedging instruments 44,408,909 28,495 (1,226,441) 39,747,160 47,756 (1,394,091) Derivatives not designated as hedging instruments Interest-rate swaps 102,000 — (1,231) 107,000 1 (226) CO bond firm commitments 15,000 27 — 35,000 50 — Mortgage-delivery commitments (1) 16,919 67 (12) 3,454 47 (2) Total derivatives not designated as hedging instruments 133,919 94 (1,243) 145,454 98 (228) Total notional amount of derivatives $ 44,542,828 $ 39,892,614 Total derivatives before netting and collateral adjustments 28,589 (1,227,684) 47,854 (1,394,319) Netting adjustments and cash collateral, including related accrued interest (2) 399,966 1,223,075 382,890 1,368,679 Derivative assets and derivative liabilities $ 428,555 $ (4,609) $ 430,744 $ (25,640) _______________________ (1) Mortgage-delivery commitments are classified as derivatives with changes in fair value recorded in other income. (2) Amounts represent the effect of master-netting agreements intended to allow us to settle positive and negative positions with the same counterparty. Cash collateral posted, including accrued interest, was $1.6 billion and $1.8 billion at March 31, 2023, and December 31, 2022, respectively. The change in cash collateral posted is included in the net change in interest-bearing deposits in the statement of cash flows. Cash collateral received, including accrued interest, was $450 thousand at March 31, 2023.
Net Gains (Losses) on Derivatives and Hedging Activities [Table Text Block]	Tables 6.2 presents the net gains (losses) on qualifying fair-value hedging relationships. Gains (losses) on derivatives include unrealized changes in fair value as well as net interest settlements. Table 6.2 - Net Gains (Losses) on Fair Value Hedging Relationships (dollars in thousands) For the Three Months Ended March 31, 2023 Advances Available-for-sale Securities CO Bonds Total interest income (expense) in the statements of operations $ 501,206 $ 167,680 $ (378,094) Gains (losses) on hedging relationships Changes in fair value: Derivatives $ (68,586) $ (233,315) $ 241,907 Hedged items 67,518 227,211 (242,057) Net changes in fair value before price alignment interest (1,068) (6,104) (150) Price alignment interest (1) (1,754) (10,058) 283 Net interest settlements on derivatives (2)(3) 28,455 97,226 (140,810) Net gains (losses) on qualifying hedging relationships 25,633 81,064 (140,677) Amortization/accretion of discontinued hedging relationships (512) — 526 Net gains (losses) on derivatives and hedging activities recorded in net interest income $ 25,121 $ 81,064 $ (140,151) For the Three Months Ended March 31, 2022 Advances Available-for-sale Securities CO Bonds Total interest income (expense) in the statements of operations $ 33,993 $ 44,733 $ (43,900) Gains (losses) on hedging relationships Changes in fair value: Derivatives $ 95,849 $ 636,682 $ (569,233) Hedged items (94,496) (622,340) 569,710 Net changes in fair value before price alignment interest 1,353 14,342 477 Price alignment interest (1) (22) (51) 2 Net interest settlements on derivatives (2)(3) (9,926) (37,391) 26,791 Net (losses) gains on qualifying hedging relationships (8,595) (23,100) 27,270 Amortization/accretion of discontinued hedging relationships (263) — 502 Net (losses) gains on derivatives and hedging activities recorded in net interest income $ (8,858) $ (23,100) $ 27,772 _______________________ (1) Relates to derivatives for which variation margin payments are characterized as daily settled contracts. (2) Represents interest income/expense on derivatives in qualifying fair-value hedging relationships. Net interest settlements on derivatives that are not in qualifying fair-value hedging relationships are reported in other income. (3) Excludes the interest income/expense of the respective hedged items recorded in net interest income. Tables 6.3 presents the net gains (losses) on qualifying cash flow hedging relationships. Table 6.3 - Net Gains (Losses) on Cash Flow Hedging Relationships (dollars in thousands) For the Three Months Ended March 31, 2023 2022 Forward-start interest rate swaps - CO Bonds Losses reclassified from accumulated other comprehensive loss into interest expense $ (1,127) $ (1,438) (Losses) gains recognized in other comprehensive income (11,755) 22,058
Gains (Losses) By Type of Hedged Item [Table Text Block]	Table 6.4 - Cumulative Basis Adjustments for Fair-Value Hedges (dollars in thousands) March 31, 2023 Line Item in Statement of Condition Amortized Cost of Hedged Asset/ Liability (1) Cumulative Basis Adjustments for Active Hedging Relationships Included in Amortized Cost Cumulative Basis Adjustments for Discontinued Hedging Relationships Included in Amortized Cost Cumulative Amount of Fair Value Hedging Basis Adjustments Advances $ 5,681,843 $ (131,431) $ 2,714 $ (128,717) Available-for-sale securities 11,521,459 (963,044) — (963,044) Consolidated obligation bonds 23,503,416 (1,140,752) 28,978 (1,111,774) _______________________ (1) Includes only the amortized cost of hedged items in fair-value hedging relationships.
Impact of Variation Margin for Cleared Derivatives on the Statement of Cash Flows [Table Text Block]	Table 6.5 - Impact of Variation Margin for Cleared Derivatives on the Statement of Cash Flows (dollars in thousands) Increase (decrease) on Cash Flow Statement For the Three Months Ended March 31, 2023 2022 Operating activity - net change in derivatives and hedging activities $ (126,571) $ 700,104 Financing activity - net (payments) proceeds on derivatives with a financing element (3,666) 65,795 Total variation margin (posted) received on cleared derivatives $ (130,237) $ 765,899
Post-haircut Value of Incremental Collateral Based on Incremental Credit Rating Downgrades [Table Text Block]	Table 6.6 sets forth the post-haircut value of incremental collateral that certain uncleared derivatives counterparties could have required us to deliver based on incremental credit rating downgrades at March 31, 2023. Table 6.6 - Post Haircut Value of Incremental Collateral to be Delivered as of March 31, 2023 (dollars in thousands) Ratings Downgrade (1) From To Incremental Collateral AA+ AA or AA- $ — AA- A+, A or A- — A- below A- 37,181 _______________________ (1) Ratings are expressed in this table according to S&P's conventions but include the equivalent of such rating by Moody's. If there is a split rating, the lower rating is used.
Offsetting Assets [Table Text Block]	Table 6.7 presents separately the fair value of derivatives that are subject to netting due to a legal right of offset based on the terms of our master netting arrangements or similar agreements as of March 31, 2023, and December 31, 2022, and the fair value of derivatives that are not subject to such netting. Derivatives subject to netting include any related cash collateral received from or pledged to counterparties. Table 6.7 - Netting of Derivative Assets and Derivative Liabilities (dollars in thousands) March 31, 2023 Derivative Instruments Meeting Netting Requirements Gross Recognized Amount Gross Amounts of Netting Adjustments (1) Derivative Instruments Not Meeting Netting Requirements Total Derivative Assets and Total Derivative Liabilities Derivative Assets Interest-rate swaps Uncleared $ 27,958 $ (24,142) $ 3,816 Cleared 537 424,108 424,645 CO bond firm commitments $ 27 27 Mortgage delivery commitments 67 67 Total $ 428,555 Derivative Liabilities Interest-rate swaps Uncleared $ (1,198,465) $ 1,193,868 $ (4,597) Cleared (29,207) 29,207 — Mortgage delivery commitments $ (12) (12) Total $ (4,609) December 31, 2022 Derivative Instruments Meeting Netting Requirements Gross Recognized Amount Gross Amounts of Netting Adjustments (1) Derivative Instruments Not Meeting Netting Requirements Total Derivative Assets and Total Derivative Liabilities Derivative Assets Interest-rate swaps Uncleared $ 23,782 $ (23,782) $ — Cleared 23,975 406,672 430,647 CO bond firm commitments $ 50 50 Mortgage delivery commitment 47 47 Total $ 430,744 Derivative Liabilities Interest-rate swaps Uncleared $ (1,393,633) $ 1,367,995 $ (25,638) Cleared (684) 684 — Mortgage delivery commitment $ (2) (2) Total $ (25,640) _______________________ (1) Includes gross amounts of netting adjustments and cash collateral.
Offsetting Liabilities [Table Text Block]	Table 6.7 presents separately the fair value of derivatives that are subject to netting due to a legal right of offset based on the terms of our master netting arrangements or similar agreements as of March 31, 2023, and December 31, 2022, and the fair value of derivatives that are not subject to such netting. Derivatives subject to netting include any related cash collateral received from or pledged to counterparties. Table 6.7 - Netting of Derivative Assets and Derivative Liabilities (dollars in thousands) March 31, 2023 Derivative Instruments Meeting Netting Requirements Gross Recognized Amount Gross Amounts of Netting Adjustments (1) Derivative Instruments Not Meeting Netting Requirements Total Derivative Assets and Total Derivative Liabilities Derivative Assets Interest-rate swaps Uncleared $ 27,958 $ (24,142) $ 3,816 Cleared 537 424,108 424,645 CO bond firm commitments $ 27 27 Mortgage delivery commitments 67 67 Total $ 428,555 Derivative Liabilities Interest-rate swaps Uncleared $ (1,198,465) $ 1,193,868 $ (4,597) Cleared (29,207) 29,207 — Mortgage delivery commitments $ (12) (12) Total $ (4,609) December 31, 2022 Derivative Instruments Meeting Netting Requirements Gross Recognized Amount Gross Amounts of Netting Adjustments (1) Derivative Instruments Not Meeting Netting Requirements Total Derivative Assets and Total Derivative Liabilities Derivative Assets Interest-rate swaps Uncleared $ 23,782 $ (23,782) $ — Cleared 23,975 406,672 430,647 CO bond firm commitments $ 50 50 Mortgage delivery commitment 47 47 Total $ 430,744 Derivative Liabilities Interest-rate swaps Uncleared $ (1,393,633) $ 1,367,995 $ (25,638) Cleared (684) 684 — Mortgage delivery commitment $ (2) (2) Total $ (25,640) _______________________ (1) Includes gross amounts of netting adjustments and cash collateral.

Deposits (Tables)

Deposits (Tables)	3 Months Ended
	Mar. 31, 2023
Deposits [Abstract]
Interest-bearing and Non-interest-bearing Deposits [Table Text Block]	Table 7.1 - Deposits (dollars in thousands) March 31, 2023 December 31, 2022 Interest-bearing Demand and overnight $ 852,817 $ 632,635 Other — 1,867 Noninterest-bearing Other 19,539 20,985 Total deposits $ 872,356 $ 655,487

Consolidated Obligations (Table

Consolidated Obligations (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
CO Bonds by Year of Contractual Maturity [Table Text Block]	Table 8.1 - CO Bonds Outstanding by Contractual Maturity (dollars in thousands) March 31, 2023 December 31, 2022 Amount Weighted Average Rate (1) Amount Weighted Average Rate (1) Due in one year or less $ 17,946,400 4.37 % $ 10,616,385 3.15 % Due after one year through two years 7,458,500 2.53 5,321,650 1.85 Due after two years through three years 5,808,340 1.92 4,993,600 1.70 Due after three years through four years 5,455,450 1.39 5,951,355 1.10 Due after four years through five years 2,342,400 3.23 2,099,000 2.24 Thereafter 3,745,255 2.31 3,916,865 2.09 Total par value 42,756,345 3.09 % 32,898,855 2.17 % Premiums 35,114 27,902 Discounts (9,849) (8,033) Hedging adjustments (1,111,774) (1,353,181) Total $ 41,669,836 $ 31,565,543 _______________________ (1) The CO bonds' weighted-average rate excludes concession fees. Table 8.3 - CO Bonds Outstanding by Contractual Maturity or Next Call Date (dollars in thousands) March 31, 2023 December 31, 2022 Due in one year or less $ 34,583,900 $ 26,319,885 Due after one year through two years 2,710,500 1,843,150 Due after two years through three years 2,229,340 1,952,600 Due after three years through four years 1,254,950 1,370,355 Due after four years through five years 849,400 438,000 Thereafter 1,128,255 974,865 Total par value $ 42,756,345 $ 32,898,855
CO Bonds Long-term Debt Instruments [Table Text Block]	Table 8.2 - CO Bonds Outstanding by Call Feature (dollars in thousands) March 31, 2023 December 31, 2022 Noncallable and nonputable $ 22,109,655 $ 15,039,805 Callable 20,646,690 17,859,050 Total par value $ 42,756,345 $ 32,898,855 Table 8.4 - CO Bonds by Interest Rate-Payment Type (dollars in thousands) March 31, 2023 December 31, 2022 Fixed-rate $ 26,760,955 $ 22,667,605 Simple variable-rate 9,865,000 4,200,000 Step-up (1) 6,130,390 6,031,250 Total par value $ 42,756,345 $ 32,898,855 _______________________ (1) Step-up bonds pay interest at increasing fixed rates for specified intervals over the life of the CO bond and can be called at our option on the step-up dates.
CO Discount Notes [Table Text Block]	Table 8.5 - CO Discount Notes Outstanding (dollars in thousands) Book Value Par Value Weighted Average Rate (1) March 31, 2023 $ 33,448,155 $ 33,671,951 4.79 % December 31, 2022 $ 26,975,260 $ 27,109,244 4.22 % _______________________ (1) CO discount notes' weighted-average rate represents a yield to maturity excluding concession fees.

Affordable Housing Program (Tab

Affordable Housing Program (Tables)	3 Months Ended
	Mar. 31, 2023
Affordable Housing Program AHP [Abstract]
Roll-forward of the AHP Liability[Table Text Block]	Table 9.1 - AHP Liability (dollars in thousands) March 31, 2023 December 31, 2022 Balance at beginning of year $ 76,622 $ 70,503 AHP expense for the period 6,375 20,521 AHP voluntary contribution — 5,479 AHP direct grant disbursements (2,450) (17,683) AHP subsidy for AHP advance disbursements (1,566) (3,155) Return of previously disbursed grants and subsidies — 957 Balance at end of period $ 78,981 $ 76,622

Capital (Tables)

Capital (Tables)	3 Months Ended
	Mar. 31, 2023
Banking Regulation, Total Capital [Abstract]
Compliance with Regulatory Capital Requirements [Table Text Block]	Table 10.1 - Regulatory Capital Requirements (dollars in thousands) Risk-Based Capital Requirements March 31, December 31, Permanent capital Class B capital stock $ 2,404,394 $ 2,031,178 Mandatorily redeemable capital stock 10,290 10,290 Retained earnings 1,716,752 1,690,568 Total permanent capital $ 4,131,436 $ 3,732,036 Risk-based capital requirement Credit-risk capital $ 138,477 $ 130,875 Market-risk capital 282,391 225,813 Operations-risk capital 126,260 107,006 Total risk-based capital requirement $ 547,128 $ 463,694 Permanent capital in excess of risk-based capital requirement $ 3,584,308 $ 3,268,342 March 31, 2023 December 31, 2022 Required Actual Required Actual Capital Ratio Risk-based capital $ 547,128 $ 4,131,436 $ 463,694 $ 3,732,036 Total regulatory capital $ 3,206,546 $ 4,131,436 $ 2,515,902 $ 3,732,036 Total capital-to-asset ratio 4.0 % 5.2 % 4.0 % 5.9 % Leverage Ratio Leverage capital $ 4,008,182 $ 6,197,154 $ 3,144,877 $ 5,598,054 Leverage capital-to-assets ratio 5.0 % 7.7 % 5.0 % 8.9 %

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Loss [Table Text Block]	Accumulated Other Comprehensive Income (Loss) Table 11.1 - Accumulated Other Comprehensive Income (Loss) (dollars in thousands) Net Unrealized Gain (Loss) on Available-for-sale Securities Net Unrealized Gain (Loss) Relating to Hedging Activities Pension and Postretirement Benefits Total Balance, December 31, 2021 $ 58,013 $ (26,291) $ (2,755) $ 28,967 Other comprehensive income (loss) before reclassifications: Net unrealized (losses) gains (141,288) 22,058 — (119,230) Reclassifications from other comprehensive income to net income Reclassification of realized net loss included in net income (1) 2 — — 2 Amortization - hedging activities (2) — 1,438 — 1,438 Amortization - pension and postretirement benefits (3) — — 23 23 Other comprehensive (loss) income (141,286) 23,496 23 (117,767) Balance, March 31, 2022 $ (83,273) $ (2,795) $ (2,732) $ (88,800) Balance, December 31, 2022 $ (350,281) $ 42,482 $ 1,374 $ (306,425) Other comprehensive income (loss) before reclassifications: Net unrealized gains (losses) 10,654 (11,755) — (1,101) Reclassifications from other comprehensive income to net income Amortization - hedging activities (2) — 1,127 — 1,127 Other comprehensive income (loss) 10,654 (10,628) — 26 Balance, March 31, 2023 $ (339,627) $ 31,854 $ 1,374 $ (306,399) _______________________ (1) Recorded in other, net in the statement of operations. (2) Recorded in CO bond interest expense. (3) Recorded in other expenses in the statement of operations.

Fair Values (Tables)

Fair Values (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments [Table Text Block]	Table 12.1 presents the carrying value, fair value, and fair value hierarchy of our financial assets and liabilities at March 31, 2023, and December 31, 2022. We record trading securities, available-for-sale securities, derivative assets, derivative liabilities, and certain other assets at fair value on a recurring basis and certain mortgage loans, and certain other assets at fair value on a non-recurring basis. We record all other financial assets and liabilities at amortized cost. Refer to Table 12.2 for further details about the financial assets and liabilities held at fair value on either a recurring or non-recurring basis. Table 12.1 - Fair Value Summary (dollars in thousands) March 31, 2023 Carrying Total Fair Value Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (2) Financial instruments Assets: Cash and due from banks $ 6,594 $ 6,594 $ 6,594 $ — $ — $ — Interest-bearing deposits 1,248,687 1,248,687 1,248,687 — — — Securities purchased under agreements to resell 8,400,000 8,399,975 — 8,399,975 — — Federal funds sold 2,301,000 2,300,998 — 2,300,998 — — Trading securities (1) 1,586 1,586 — 1,586 — — Available-for-sale securities (1) 14,106,155 14,106,155 — 14,073,050 33,105 — Held-to-maturity securities 93,691 93,420 — 93,420 — — Advances 49,622,282 49,429,312 — 49,429,312 — — Mortgage loans, net 2,724,612 2,484,005 — 2,466,556 17,449 — Loans to other FHLBanks 1,000,000 999,999 — 999,999 — — Accrued interest receivable 157,549 157,549 — 157,549 — — Derivative assets (1) 428,555 428,555 — 28,589 — 399,966 Other assets (1) 26,286 26,286 12,041 14,245 — — Liabilities: Deposits (872,356) (872,273) — (872,273) — — COs: Bonds (41,669,836) (41,201,760) — (41,201,760) — — Discount notes (33,448,155) (33,447,343) — (33,447,343) — — Mandatorily redeemable capital stock (10,290) (10,290) (10,290) — — — Accrued interest payable (199,753) (199,753) — (199,753) — — Derivative liabilities (1) (4,609) (4,609) — (1,227,684) — 1,223,075 Other: Commitments to extend credit for advances — (8,034) — (8,034) — — Standby letters of credit (1,293) (1,293) — (1,293) — — December 31, 2022 Carrying Total Fair Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (2) Financial instruments Assets: Cash and due from banks $ 7,593 $ 7,593 $ 7,593 $ — $ — $ — Interest-bearing deposits 1,485,290 1,485,290 1,485,290 — — — Federal funds sold 2,706,000 2,705,992 — 2,705,992 — — Trading securities (1) 1,507 1,507 — 1,507 — — Available-for-sale securities (1) 13,626,916 13,626,916 — 13,594,142 32,774 — Held-to-maturity securities 99,068 98,591 — 98,591 — — Advances 41,599,581 41,378,357 — 41,378,357 — — Mortgage loans, net 2,758,429 2,483,271 — 2,462,257 21,014 — Accrued interest receivable 134,268 134,268 — 134,268 — — Derivative assets (1) 430,744 430,744 — 47,854 — 382,890 Other assets (1) 25,504 25,504 11,950 13,554 — — Liabilities: Deposits (655,487) (655,425) — (655,425) — — COs: Bonds (31,565,543) (30,981,391) — (30,981,391) — — Discount notes (26,975,260) (26,972,926) — (26,972,926) — — Mandatorily redeemable capital stock (10,290) (10,290) (10,290) — — — Accrued interest payable (130,515) (130,515) — (130,515) — — Derivative liabilities (1) (25,640) (25,640) — (1,394,319) — 1,368,679 Other: Commitments to extend credit for advances — (13,327) — (13,327) — — Standby letters of credit (1,168) (1,168) — (1,168) — — _______________________ (1) Carried at fair value and measured on a recurring basis. (2) These amounts represent the effect of master-netting agreements intended to allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing member and/or counterparty.
Fair Value Measured on Recurring and Nonrecurring Basis [Table Text Block]	Table 12.2 - Fair Value of Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis (dollars in thousands) March 31, 2023 Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (1) Total Assets: Carried at fair value on a recurring basis Trading securities: Corporate bonds $ — $ 1,586 $ — $ — $ 1,586 Total trading securities — 1,586 — — 1,586 Available-for-sale securities: U.S. Treasury obligations — 5,835,902 — — 5,835,902 HFA securities — — 33,105 — 33,105 Supranational institutions — 354,044 — — 354,044 U.S. government-owned corporations — 234,659 — — 234,659 GSE — 99,892 — — 99,892 U.S. government guaranteed – single-family MBS — 15,926 — — 15,926 U.S. government guaranteed – multifamily MBS — 478,844 — — 478,844 GSE – single-family MBS — 1,026,358 — — 1,026,358 GSE – multifamily MBS — 6,027,425 — — 6,027,425 Total available-for-sale securities — 14,073,050 33,105 — 14,106,155 Derivative assets: Interest-rate-exchange agreements — 28,495 — 399,966 428,461 CO Bond firm commitments — 27 — — 27 Mortgage delivery commitments — 67 — — 67 Total derivative assets — 28,589 — 399,966 428,555 Other assets 12,041 14,245 — — 26,286 Total assets carried at fair value on a recurring basis $ 12,041 $ 14,117,470 $ 33,105 $ 399,966 $ 14,562,582 Liabilities: Carried at fair value on a recurring basis Derivative liabilities Interest-rate-exchange agreements $ — $ (1,227,672) $ — $ 1,223,075 $ (4,597) Mortgage delivery commitments — (12) — — (12) Total liabilities carried at fair value on a recurring basis $ — $ (1,227,684) $ — $ 1,223,075 $ (4,609) December 31, 2022 Level 1 Level 2 Level 3 Netting (1) Total Assets: Carried at fair value on a recurring basis Trading securities: Corporate bonds $ — $ 1,507 $ — $ — $ 1,507 Total trading securities — 1,507 — — 1,507 Available-for-sale securities: U.S. Treasury obligations — 5,723,562 — — 5,723,562 HFA securities — — 32,774 — 32,774 Supranational institutions — 350,352 — — 350,352 U.S. government-owned corporations — 227,200 — — 227,200 GSE — 97,666 — — 97,666 U.S. government guaranteed – single-family MBS — 16,148 — — 16,148 U.S. government guaranteed – multifamily MBS — 476,730 — — 476,730 GSE – single-family MBS — 765,526 — — 765,526 GSE – multifamily MBS — 5,936,958 — — 5,936,958 Total available-for-sale securities — 13,594,142 32,774 — 13,626,916 Derivative assets: Interest-rate-exchange agreements — 47,757 — 382,890 430,647 CO Bond firm commitments — 50 — — 50 Mortgage delivery commitments — 47 — — 47 Total derivative assets — 47,854 — 382,890 430,744 Other assets 11,950 13,554 — — 25,504 Total assets carried at fair value on a recurring basis $ 11,950 $ 13,657,057 $ 32,774 $ 382,890 $ 14,084,671 Carried at fair value on a nonrecurring basis (2) Mortgage loans held for portfolio $ — $ — $ 90 $ — $ 90 Total assets carried at fair value on a nonrecurring basis $ — $ — $ 90 $ — $ 90 Liabilities: Carried at fair value on a recurring basis Derivative liabilities Interest-rate-exchange agreements $ — $ (1,394,317) $ — $ 1,368,679 $ (25,638) Mortgage delivery commitments — (2) — — (2) Total liabilities carried at fair value on a recurring basis $ — $ (1,394,319) $ — $ 1,368,679 $ (25,640) _______________________ (1) These amounts represent the effect of master-netting agreements intended to allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing member and/or counterparty. (2) We measure certain mortgage loans held for portfolio at fair value on a nonrecurring basis, that is, they are not measured at fair value on an ongoing basis but are subject to fair-value adjustments only in certain circumstances. The fair values presented are as of the date the fair value adjustment was recorded.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Table 12.3 presents a reconciliation of available-for-sale securities that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2023 and 2022. Table 12.3 - Roll Forward of Level 3 Available-for-Sale Securities (dollars in thousands) For the Three Months Ended March 31, 2023 2022 HFA Securities HFA Securities Balance at beginning of period $ 32,774 $ 62,265 Total gains (losses) included in other comprehensive income Net unrealized gains (losses) 331 (821) Balance at end of period $ 33,105 $ 61,444 Total amount of unrealized gains (losses) for the period included in other comprehensive income relating to securities held at period end $ 331 $ (821)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Off-Balance Sheet Commitments [Table Text Block]	Table 13.1 - Off-Balance Sheet Commitments (1) (dollars in thousands) March 31, 2023 December 31, 2022 Expire within one year Expire after one year Total Expire within one year Expire after one year Total Standby letters of credit outstanding (2) $ 9,463,137 $ 165,535 $ 9,628,672 $ 10,148,761 $ 77,521 $ 10,226,282 Commitments for unused lines of credit - advances (3) 1,146,950 — 1,146,950 1,123,269 — 1,123,269 Commitments to make additional advances 209,455 21,442 230,897 57,024 29,010 86,034 Commitments to invest in mortgage loans 16,919 — 16,919 3,454 — 3,454 Unsettled CO bonds, at par 242,000 — 242,000 172,140 — 172,140 Unsettled CO discount notes, at par — — — 32,480 — 32,480 __________________________ (1) We have determined that it is unnecessary to record any liability for credit losses on these agreements. (2) The amount of standby letters of credit outstanding excludes commitments to issue standby letters of credit that expire within one year. At March 31, 2023, and December 31, 2022, these amounts totaled $750 thousand and $22.0 million, respectively. Also, excluded are commitments to issue standby letters of credit that expire after one year totaling $42.6 million at March 31, 2023. (3) Commitments for unused line-of-credit advances are generally for periods of up to 12 months. Since many of these commitments are not expected to be drawn upon, the total commitment amount does not necessarily indicate future liquidity requirements.

Transactions with Shareholders

Transactions with Shareholders (Tables)	3 Months Ended
	Mar. 31, 2023
Transactions with Shareholders [Abstract]
Schedule of Transactions with Shareholders, Shareholder Concentrations Balance Sheet [Table Text Block]	Table 14.1 - Shareholder Concentrations, Balance Sheet (dollars in thousands) Capital Stock Percent Par Percent of Total Par Value Total Accrued Percent of Total March 31, 2023 Citizens Bank, N.A. $ 533,583 22.1 % $ 11,779,001 23.7 % $ 15,867 15.4 % Webster Bank, N.A. 359,918 14.9 8,560,461 17.2 23,895 23.2 December 31, 2022 Citizens Bank, N.A. $ 363,769 17.8 % $ 8,519,007 20.4 % $ 5,662 7.8 % Webster Bank, N.A. 221,408 10.8 5,460,552 13.1 9,942 13.6
Schedule of Transactions with Shareholders, Transactions with Directors' Financial Institutions [Table Text Block]	Transactions with Directors' Institutions. We provide, in the ordinary course of business, products and services to members whose officers or directors serve on our board of directors. In accordance with FHFA regulations, transactions with directors' institutions are conducted on the same terms as those with any other member. Table 14.2 - Transactions with Directors' Institutions (dollars in thousands) Capital Stock Percent Par Percent of Total Par Value Total Accrued Percent of Total March 31, 2023 $ 546,773 22.6 % $ 12,022,849 24.1 % $ 16,089 15.6 % December 31, 2022 374,123 18.3 8,683,521 20.8 5,803 8.0

Investments Trading Securities

Investments Trading Securities by Major Security Type (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Corporate bonds [Member]
Debt and Equity Securities, FV-NI [Line Items]
Trading securities	$ 1,586	$ 1,507

Net Gains (Losses) on Trading S

Net Gains (Losses) on Trading Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Debt Securities, Trading, Gain (Loss) [Abstract]
Net gains (losses) on trading securities held at period end	$ 79	$ (210)
Net losses on trading securities sold or matured during the period	0	(425)
Net gains (losses) on trading securities	$ 79	$ (635)

Available-for-Sale Securities M

Available-for-Sale Securities Major Security Types (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	$ 14,445,782	$ 13,977,197
Unrealized Gains Amounts Recorded in Accumulated Other Comprehensive Income		13,147	3,390
Unrealized Losses Amounts Recorded in Accumulated Other Comprehensive Income		(352,774)	(353,671)
Available-for-sale securities Fair Value		14,106,155	13,626,916
Available-for-sale securities - accrued interest receivable		$ 35,600	$ 43,100
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]		Accrued interest receivable	Accrued interest receivable
US Treasury Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	$ 5,843,157	$ 5,732,249
Unrealized Gains Amounts Recorded in Accumulated Other Comprehensive Income		4,415	2,784
Unrealized Losses Amounts Recorded in Accumulated Other Comprehensive Income		(11,670)	(11,471)
Available-for-sale securities Fair Value		5,835,902	5,723,562
State housing-finance-agency obligations (HFA securities) [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	34,580	34,580
Unrealized Gains Amounts Recorded in Accumulated Other Comprehensive Income		0	0
Unrealized Losses Amounts Recorded in Accumulated Other Comprehensive Income		(1,475)	(1,806)
Available-for-sale securities Fair Value		33,105	32,774
Supranational institutions [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	357,783	355,767
Unrealized Gains Amounts Recorded in Accumulated Other Comprehensive Income		60	33
Unrealized Losses Amounts Recorded in Accumulated Other Comprehensive Income		(3,799)	(5,448)
Available-for-sale securities Fair Value		354,044	350,352
U.S. government-owned corporations [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	261,367	253,490
Unrealized Gains Amounts Recorded in Accumulated Other Comprehensive Income		0	0
Unrealized Losses Amounts Recorded in Accumulated Other Comprehensive Income		(26,708)	(26,290)
Available-for-sale securities Fair Value		234,659	227,200
GSE [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	107,095	104,530
Unrealized Gains Amounts Recorded in Accumulated Other Comprehensive Income		0	0
Unrealized Losses Amounts Recorded in Accumulated Other Comprehensive Income		(7,203)	(6,864)
Available-for-sale securities Fair Value		99,892	97,666
Other Than MBS [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	6,603,982	6,480,616
Unrealized Gains Amounts Recorded in Accumulated Other Comprehensive Income		4,475	2,817
Unrealized Losses Amounts Recorded in Accumulated Other Comprehensive Income		(50,855)	(51,879)
Available-for-sale securities Fair Value		6,557,602	6,431,554
U.S. government guaranteed - single-family MBS [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	18,366	18,737
Unrealized Gains Amounts Recorded in Accumulated Other Comprehensive Income		0	0
Unrealized Losses Amounts Recorded in Accumulated Other Comprehensive Income		(2,440)	(2,589)
Available-for-sale securities Fair Value		15,926	16,148
U.S. government guaranteed-multifamily MBS [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	528,837	531,184
Unrealized Gains Amounts Recorded in Accumulated Other Comprehensive Income		0	0
Unrealized Losses Amounts Recorded in Accumulated Other Comprehensive Income		(49,993)	(54,454)
Available-for-sale securities Fair Value		478,844	476,730
MBS [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	7,841,800	7,496,581
Unrealized Gains Amounts Recorded in Accumulated Other Comprehensive Income		8,672	573
Unrealized Losses Amounts Recorded in Accumulated Other Comprehensive Income		(301,919)	(301,792)
Available-for-sale securities Fair Value		7,548,553	7,195,362
Single Family [Member] | GSE – MBS [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	1,083,252	831,304
Unrealized Gains Amounts Recorded in Accumulated Other Comprehensive Income		3,068	251
Unrealized Losses Amounts Recorded in Accumulated Other Comprehensive Income		(59,962)	(66,029)
Available-for-sale securities Fair Value		1,026,358	765,526
Multifamily [Member] | GSE – MBS [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	6,211,345	6,115,356
Unrealized Gains Amounts Recorded in Accumulated Other Comprehensive Income		5,604	322
Unrealized Losses Amounts Recorded in Accumulated Other Comprehensive Income		(189,524)	(178,720)
Available-for-sale securities Fair Value		$ 6,027,425	$ 5,936,958
[1]Amortized cost of available-for-sale securities includes adjustments made to the cost basis of an investment for accretion, amortization, collection of cash, and fair-value hedge accounting adjustments. Amortized cost excludes accrued interest receivable

Available-for-Sale Securities S

Available-for-Sale Securities Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 2,602,364	$ 8,303,380
Less than 12 Months, Unrealized Losses	(40,069)	(222,692)
12 Months or More, Fair Value	8,164,372	3,217,708
12 Months or More, Unrealized Losses	(312,705)	(130,979)
Total Fair Value	10,766,736	11,521,088
Total Unrealized Losses	(352,774)	(353,671)
US Treasury Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	0	2,792,558
Less than 12 Months, Unrealized Losses	0	(7,428)
12 Months or More, Fair Value	3,500,393	1,077,821
12 Months or More, Unrealized Losses	(11,670)	(4,043)
Total Fair Value	3,500,393	3,870,379
Total Unrealized Losses	(11,670)	(11,471)
HFA securities [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	0	10,383
Less than 12 Months, Unrealized Losses	0	(77)
12 Months or More, Fair Value	33,105	22,391
12 Months or More, Unrealized Losses	(1,475)	(1,729)
Total Fair Value	33,105	32,774
Total Unrealized Losses	(1,475)	(1,806)
Supranational institutions [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	0	0
Less than 12 Months, Unrealized Losses	0	0
12 Months or More, Fair Value	341,147	337,485
12 Months or More, Unrealized Losses	(3,799)	(5,448)
Total Fair Value	341,147	337,485
Total Unrealized Losses	(3,799)	(5,448)
U.S. government-owned corporations [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	0	0
Less than 12 Months, Unrealized Losses	0	0
12 Months or More, Fair Value	234,659	227,200
12 Months or More, Unrealized Losses	(26,708)	(26,290)
Total Fair Value	234,659	227,200
Total Unrealized Losses	(26,708)	(26,290)
GSE [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	0	0
Less than 12 Months, Unrealized Losses	0	0
12 Months or More, Fair Value	99,892	97,666
12 Months or More, Unrealized Losses	(7,203)	(6,864)
Total Fair Value	99,892	97,666
Total Unrealized Losses	(7,203)	(6,864)
Other Than MBS [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	0	2,802,941
Less than 12 Months, Unrealized Losses	0	(7,505)
12 Months or More, Fair Value	4,209,196	1,762,563
12 Months or More, Unrealized Losses	(50,855)	(44,374)
Total Fair Value	4,209,196	4,565,504
Total Unrealized Losses	(50,855)	(51,879)
U.S. government guaranteed - single-family MBS [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	663	16,148
Less than 12 Months, Unrealized Losses	(3)	(2,589)
12 Months or More, Fair Value	15,263	0
12 Months or More, Unrealized Losses	(2,437)	0
Total Fair Value	15,926	16,148
Total Unrealized Losses	(2,440)	(2,589)
U.S. government guaranteed-multifamily MBS [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	0	310,447
Less than 12 Months, Unrealized Losses	0	(36,177)
12 Months or More, Fair Value	478,844	166,283
12 Months or More, Unrealized Losses	(49,993)	(18,277)
Total Fair Value	478,844	476,730
Total Unrealized Losses	(49,993)	(54,454)
MBS [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	2,602,364	5,500,439
Less than 12 Months, Unrealized Losses	(40,069)	(215,187)
12 Months or More, Fair Value	3,955,176	1,455,145
12 Months or More, Unrealized Losses	(261,850)	(86,605)
Total Fair Value	6,557,540	6,955,584
Total Unrealized Losses	(301,919)	(301,792)
GSEs - single-family [Member] | GSE – MBS [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	45,973	657,378
Less than 12 Months, Unrealized Losses	(789)	(52,285)
12 Months or More, Fair Value	663,376	77,892
12 Months or More, Unrealized Losses	(59,173)	(13,744)
Total Fair Value	709,349	735,270
Total Unrealized Losses	(59,962)	(66,029)
GSEs - multifamily [Member] | GSE – MBS [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	2,555,728	4,516,466
Less than 12 Months, Unrealized Losses	(39,277)	(124,136)
12 Months or More, Fair Value	2,797,693	1,210,970
12 Months or More, Unrealized Losses	(150,247)	(54,584)
Total Fair Value	5,353,421	5,727,436
Total Unrealized Losses	$ (189,524)	$ (178,720)

Available-for-Sale Securities b

Available-for-Sale Securities by Contractual Maturity (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	$ 14,445,782	$ 13,977,197
Fair Value		14,106,155	13,626,916
Other Than MBS [Member]
Debt Securities, Available-for-sale [Line Items]
Due in one year or less, amortized cost		252,563	250,015
Due in one year or less, fair value		252,619	250,198
Due after one year through five years, amortized cost		5,538,806	5,011,292
Due after one year through five years, fair value		5,527,605	4,998,056
Due after five years through 10 years, amortized cost		484,364	900,988
Due after five years through 10 years, fair value		482,459	897,913
Due after 10 years, amortized cost		328,249	318,321
Due after 10 years, fair value		294,919	285,387
Amortized Cost	[1]	6,603,982	6,480,616
Fair Value		6,557,602	6,431,554
MBS [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	7,841,800	7,496,581
Fair Value		7,548,553	7,195,362
Amortized Cost MBS	[2]	7,841,800	7,496,581
Fair Value MBS	[2]	$ 7,548,553	$ 7,195,362
[1]Amortized cost of available-for-sale securities includes adjustments made to the cost basis of an investment for accretion, amortization, collection of cash, and fair-value hedge accounting adjustments. Amortized cost excludes accrued interest receivable

Held-to-Maturity Securities by

Held-to-Maturity Securities by Major Security Type (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity fair value		$ 93,420	$ 98,591
Held-to-maturity securities - accrued interest receivable		$ 359	$ 323
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]		Accrued interest receivable	Accrued interest receivable
U.S. government guaranteed - single-family MBS [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized cost	[1]	$ 3,504	$ 3,614
Gross Unrecognized Holding Gains		21	29
Gross Unrecognized Holding Losses		0	0
Held-to-maturity fair value		3,525	3,643
GSE – MBS [Member] | Single Family [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized cost	[1]	90,187	95,454
Gross Unrecognized Holding Gains		610	420
Gross Unrecognized Holding Losses		(902)	(926)
Held-to-maturity fair value		89,895	94,948
MBS [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized cost	[1]	93,691	99,068
Gross Unrecognized Holding Gains		631	449
Gross Unrecognized Holding Losses		(902)	(926)
Held-to-maturity fair value		$ 93,420	$ 98,591
[1]Amortized cost of held-to-maturity securities includes adjustments made to the cost basis of an investment for accretion, amortization, and collection of cash. Amortized cost excludes accrued interest receivable

Proceeds and Gains (Losses) fro

Proceeds and Gains (Losses) from Sales of Investment Securities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Debt Securities, Available-for-sale, Sale [Abstract]
Proceeds from sale	$ 142,733
Amortized cost, net of allowance for credit losses	142,735
Gross realized gains from sale	124
Gross realized losses from sale	(126)
Realized net loss from sale	(2)
Debt Securities, Held-to-maturity, Sale [Abstract]
Proceeds from sale	10,405	[1]
Carrying value	10,385	[1]
Gross realized gains from sale	22	[1]
Gross realized loss from sale	(2)	[1]
Realized net gain from sale	$ 20	[1]
[1]Held-to-maturity securities sold had less than 15 percent of the acquired principal outstanding at the time of sale. Such sales are treated as maturities for the purposes of security classification. The sale does not impact our ability and intent to hold the remaining investments classified as held-to-maturity through their stated maturity dates.

Investments Narrative (Details)

Investments Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Percentage of short-term investments in interest-bearing deposits, securities purchased under agreements to resell, and federal funds sold assets rated below single-A	0%	0%
Allowance for credit losses for securities purchased under agreements to resell	$ 0	$ 0
Allowance for credit loss	$ 2,000	1,900
Available for-Sale securities, rated single-A or above, based on amortized cost	100%
Held -to-maturity securities, rated single-A or above, based on amortized cost	100%
Sale of investment securities, available-for-sale and held-to-maturity	$ 0
Allowance for credit loss on available-for-sale securities	0	0
Allowance for credit loss on held-to-maturity securities	0	0
Interest bearing deposits, federal funds sold and loans to other FHLBanks [Member]
Allowance for credit loss	$ 0	$ 0

Advances - Outstanding by Year

Advances - Outstanding by Year of Contractual Maturity (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Federal Home Loan Bank, Advances, Maturity, Rolling Year, Par Value [Abstract]
Overdrawn demand-deposit accounts		$ 611	$ 2,000
Due in one year or less		26,394,474	24,563,604
Due after one year through two years		14,576,454	10,260,956
Due after two years through three years		2,666,108	2,034,070
Due after three years through four years		917,313	775,951
Due after four years through five years		3,232,782	1,775,923
Due after five years through fifteen years		1,952,864	2,377,747
Thereafter		44,284	40,525
Total par value		49,784,890	41,830,776
Discounts		(35,275)	(34,257)
Fair value of bifurcated derivatives	[1]	1,384	400
Hedging adjustments		(128,717)	(197,338)
Total Advances	[2]	$ 49,622,282	$ 41,599,581
Federal Home Loan Bank, Advances, Weighted Average Interest Rate, Rolling Year [Abstract]
Overdrawn demand-deposit accounts, Weighted average rate		5.15%	4.48%
Due in one year or less, Weighted average rate		4.92%	4.26%
Due after one year through two years, Weighted average rate		4.58%	4.05%
Due after two years through three years, Weighted average rate		2.81%	2.10%
Due after three years through four years, Weighted average rate		3.25%	2.35%
Due after four years through five years, Weighted average rate		3.64%	3.76%
Due after five years through fifteen years, Weighted average rate		2.78%	2.53%
Thereafter, Weighted average rate		1.50%	1.41%
Total Weighted average rate		4.51%	3.94%
Federal Home Loan Bank Advances Receivable [Member]
Federal Home Loan Bank, Advances, Maturity, Rolling Year, Par Value [Abstract]
Advances accrued interest receivable		$ 103,200	$ 72,900
[1]At March 31, 2023, and December 31, 2022, we had certain advances with embedded features that met the requirements to be separated from the host contract and designated as stand-alone derivatives.[2]Excludes accrued interest receivable of $103.2 million and $72.9 million at March 31, 2023, and December 31, 2022, respectively.

Advances - Outstanding by Yea_2

Advances - Outstanding by Year of Contractual Maturity or Next Call Date (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Call Date, Rolling Year, Par Value [Abstract]
Overdrawn demand-deposit accounts	$ 611	$ 2,000
Due in one year or less	39,180,769	33,919,899
Due after one year through two years	2,773,579	1,718,681
Due after two years through three years	2,592,708	1,986,570
Due after three years through four years	709,213	711,351
Due after four years through five years	2,530,862	1,078,603
Due after five years through fifteen years	1,952,864	2,373,147
Thereafter	44,284	40,525
Total par value	$ 49,784,890	$ 41,830,776

Advances - Outstanding by Yea_3

Advances - Outstanding by Year of Contractual Maturity or Next Put Date (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put or Convert Date, Rolling Year, Par Value [Abstract]
Overdrawn demand-deposit accounts	$ 611	$ 2,000
Due in one year or less	28,741,824	25,751,204
Due after one year through two years	14,752,954	10,525,456
Due after two years through three years	2,339,358	2,000,070
Due after three years through four years	877,813	750,951
Due after four years through five years	1,990,282	1,184,423
Due after five years through fifteen years	1,037,764	1,576,147
Thereafter	44,284	40,525
Total par value	$ 49,784,890	$ 41,830,776

Advances - by Current Interest

Advances - by Current Interest Rate Terms (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Federal Home Loan Bank, Advances, Fixed Rate [Abstract]
Fixed-rate	$ 36,153,914	$ 31,976,911
Federal Home Loan Bank, Advances, Floating Rate [Abstract]
Variable-rate	13,630,976	9,853,865
Total par value	$ 49,784,890	$ 41,830,776

Advances - Narratives (Details)

Advances - Narratives (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Federal Home Loan Bank, Advances [Line Items]
Allowance for credit lossed on advances	$ 2,000	$ 1,900
Federal Home Loan Bank Advances Receivable [Member]
Federal Home Loan Bank, Advances [Line Items]
Nonaccrual status on advances	0	0
Impaired advances	0	0
Modifications	0		$ 0
Allowance for credit lossed on advances	0	0
Federal Home Loan Bank Advances Receivable [Member] | Financial Asset, Past Due [Member]
Federal Home Loan Bank, Advances [Line Items]
Past due advances	$ 0	$ 0
Minimum [Member]
Federal Home Loan Bank, Advances [Line Items]
Interest rates of advances outstanding	0%	0%
Maximum [Member]
Federal Home Loan Bank, Advances [Line Items]
Interest rates of advances outstanding	6.23%	6.23%

Mortgage Loans Held for Portf_3

Mortgage Loans Held for Portfolio (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: Allowance for credit losses		$ (2,000)	$ (1,900)
Total mortgage loans, net of allowance for credit losses		$ 2,724,612	$ 2,758,429
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]		Accrued interest receivable	Accrued interest receivable
Fixed-rate 15-year single-family mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Original contractual terms		15 years
Fixed-rate 20- and 30-year single-family mortgages | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Original contractual terms		20 years
Fixed-rate 20- and 30-year single-family mortgages | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Original contractual terms		30 years
Residential Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Par Value		$ 2,687,654	$ 2,720,351
Premiums		39,296	40,305
Discounts		(1,647)	(1,660)
Deferred derivative gains, net		1,309	1,333
Total mortgage loans held for portfolio	[1]	2,726,612	2,760,329
Less: Allowance for credit losses		(2,000)	(1,900)
Total mortgage loans, net of allowance for credit losses		2,724,612	2,758,429
Mortgage loans held for portfolio, accrued interest receivable		14,300	14,300
Single Family [Member] | Fixed-rate 15-year single-family mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Par Value		215,137	224,307
Single Family [Member] | Fixed-rate 20- and 30-year single-family mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Par Value		$ 2,472,517	$ 2,496,044
[1] Excludes accrued interest receivable

Mortgage Loans Held for Portf_4

Mortgage Loans Held for Portfolio by Collateral/Guarantee Type (Details) - Residential Portfolio Segment - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Par Value	$ 2,687,654	$ 2,720,351
Government Mortgage Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Par Value	158,310	163,121
Conventional Mortgage Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Par Value	$ 2,529,344	$ 2,557,230

Credit Quality Indicator for Co

Credit Quality Indicator for Conventional Mortgage Loans (Details) - Conventional Mortgage Loans [Member] - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Originated five or more years before latest fiscal year	[1]	$ 1,297,154	$ 1,183,590
Originated current fiscal year and preceding four fiscal years	[1]	1,268,214	1,410,562
Total mortgage loans held for portfolio	[1]	2,565,368	2,594,152
Past due 30-59 days delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Originated five or more years before latest fiscal year	[1]	12,976	9,640
Originated current fiscal year and preceding four fiscal years	[1]	6,638	9,274
Total mortgage loans held for portfolio	[1]	19,614	18,914
Past due 60-89 days delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Originated five or more years before latest fiscal year	[1]	3,451	2,844
Originated current fiscal year and preceding four fiscal years	[1]	649	1,554
Total mortgage loans held for portfolio	[1]	4,100	4,398
Past due 90 days or more delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Originated five or more years before latest fiscal year	[1]	9,047	9,638
Originated current fiscal year and preceding four fiscal years	[1]	1,773	5,444
Total mortgage loans held for portfolio	[1]	10,820	15,082
Total past due
Financing Receivable, Credit Quality Indicator [Line Items]
Originated five or more years before latest fiscal year	[1]	25,474	22,122
Originated current fiscal year and preceding four fiscal years	[1]	9,060	16,272
Total mortgage loans held for portfolio	[1]	34,534	38,394
Total current loans
Financing Receivable, Credit Quality Indicator [Line Items]
Originated five or more years before latest fiscal year	[1]	1,271,680	1,161,468
Originated current fiscal year and preceding four fiscal years	[1]	1,259,154	1,394,290
Total mortgage loans held for portfolio	[1]	$ 2,530,834	$ 2,555,758
[1]Amortized cost excludes accrued interest receivable.

Other Delinquency Statistics of

Other Delinquency Statistics of Mortgage Loans (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Mortgage Loans Past Due [Line Items]
In process of foreclosure	[1]	$ 3,836	$ 3,789
Residential Portfolio Segment
Mortgage Loans Past Due [Line Items]
Past due 90 days or more still accruing interest		2,238	2,359
Loans on nonaccrual status	[2]	$ 10,820	$ 15,246
Past due 90 days or more delinquent [Member] | Residential Portfolio Segment
Mortgage Loans Past Due [Line Items]
Serious delinquency rate	[3]	0.49%	0.63%
Recorded Investment in Government Mortgage Loans [Member]
Mortgage Loans Past Due [Line Items]
In process of foreclosure	[1]	$ 827	$ 891
Recorded Investment in Government Mortgage Loans [Member] | Residential Portfolio Segment
Mortgage Loans Past Due [Line Items]
Past due 90 days or more still accruing interest		2,238	2,359
Loans on nonaccrual status	[2]	$ 0	$ 0
Recorded Investment in Government Mortgage Loans [Member] | Past due 90 days or more delinquent [Member] | Residential Portfolio Segment
Mortgage Loans Past Due [Line Items]
Serious delinquency rate	[3]	1.42%	1.42%
Recorded Investment in Conventional Mortgage Loans [Member]
Mortgage Loans Past Due [Line Items]
In process of foreclosure	[1]	$ 3,009	$ 2,898
Mortgage loans on non-accrual status with no allowance for credit losses		6,100	8,700
Recorded Investment in Conventional Mortgage Loans [Member] | Residential Portfolio Segment
Mortgage Loans Past Due [Line Items]
Past due 90 days or more still accruing interest		0	0
Loans on nonaccrual status	[2]	$ 10,820	$ 15,246
Recorded Investment in Conventional Mortgage Loans [Member] | Past due 90 days or more delinquent [Member] | Residential Portfolio Segment
Mortgage Loans Past Due [Line Items]
Serious delinquency rate	[3]	0.43%	0.58%
[1]Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu of foreclosure has been reported.[2]As of March 31, 2023, and December 31, 2022, $6.1 million and $8.7 million, respectively, of conventional mortgage loans on nonaccrual status did not have an associated allowance for credit losses because either these loans were charged off or the fair value of the underlying collateral, including any credit enhancements, is greater than the amortized cost of the loans.[3]Loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the recorded investment in the total loan portfolio class.

Allowance for Credit Losses on

Allowance for Credit Losses on Conventional Mortgage Loans (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance, beginning of period		$ 1,900
Balance, end of period		2,000
Residential Portfolio Segment
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance, beginning of period		1,900
Balance, end of period		2,000
Conventional Mortgage Loans [Member] | Residential Portfolio Segment
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance, beginning of period	[1]	1,900	$ 1,700
Recoveries	[1]	6	0
Provision for (reduction of) credit losses	[1]	94	(100)
Balance, end of period	[1]	$ 2,000	$ 1,600
[1]These amounts exclude government mortgage loans because we make no allowance for credit losses based on our investments in government mortgage loans, as discussed below under — Government Mortgage Loans Held for Portfolio.

Mortgage Loans Held for Portf_5

Mortgage Loans Held for Portfolio Narrative (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Allowance for credit losses - mortgage loans held for portfolio		$ 2,000	$ 1,900
Residential Portfolio Segment
Financing Receivable, Credit Quality Indicator [Line Items]
Allowance for credit losses - mortgage loans held for portfolio		2,000	1,900
Government mortgage loans placed on non-accrual status	[1]	10,820	15,246
Government Mortgage Loans [Member] | Residential Portfolio Segment
Financing Receivable, Credit Quality Indicator [Line Items]
Allowance for credit losses - mortgage loans held for portfolio		0	0
Government mortgage loans placed on non-accrual status	[1]	$ 0	$ 0
[1]As of March 31, 2023, and December 31, 2022, $6.1 million and $8.7 million, respectively, of conventional mortgage loans on nonaccrual status did not have an associated allowance for credit losses because either these loans were charged off or the fair value of the underlying collateral, including any credit enhancements, is greater than the amortized cost of the loans.

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities Derivatives in Statement of Condition (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount		$ 44,542,828	$ 39,892,614
Derivative Assets, before netting and collateral adjustments		28,589	47,854
Derivative Liabilities, before netting and collateral adjustments		(1,227,684)	(1,394,319)
Derivative Asset, netting adjustments and cash collateral including related accrued interest	[1],[2]	399,966	382,890
Derivative Liability, netting adjustments and cash collateral including related accrued interest	[1],[2]	1,223,075	1,368,679
Derivative assets		428,555	430,744
Derivative liabilities		(4,609)	(25,640)
Cash collateral and related accrued interest posted		1,600,000	1,800,000
Cash collateral and related accrued interest received		450
COs - bonds [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets, before netting and collateral adjustments		27	50
Derivative assets		27	50
Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount		44,408,909	39,747,160
Derivative Assets, before netting and collateral adjustments		28,495	47,756
Derivative Liabilities, before netting and collateral adjustments		(1,226,441)	(1,394,091)
Designated as Hedging Instrument [Member] | Interest-rate swaps [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount		43,017,909	38,356,160
Derivative Assets, before netting and collateral adjustments		28,495	47,000
Derivative Liabilities, before netting and collateral adjustments		(1,224,202)	(1,394,051)
Designated as Hedging Instrument [Member] | Forward-start interest-rate swaps [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount		1,391,000	1,391,000
Derivative Assets, before netting and collateral adjustments		0	756
Derivative Liabilities, before netting and collateral adjustments		(2,239)	(40)
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount		133,919	145,454
Derivative Assets, before netting and collateral adjustments		94	98
Derivative Liabilities, before netting and collateral adjustments		(1,243)	(228)
Not Designated as Hedging Instrument [Member] | Interest-rate swaps [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount		102,000	107,000
Derivative Assets, before netting and collateral adjustments		0	1
Derivative Liabilities, before netting and collateral adjustments		(1,231)	(226)
Not Designated as Hedging Instrument [Member] | COs - bonds [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount		15,000	35,000
Derivative Assets, before netting and collateral adjustments		27	50
Derivative Liabilities, before netting and collateral adjustments		0	0
Mortgage Receivable [Member] | Mortgage-delivery commitments [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets, before netting and collateral adjustments		67	47
Derivative Liabilities, before netting and collateral adjustments		(12)	(2)
Derivative assets		67	47
Derivative liabilities		(12)	(2)
Mortgage Receivable [Member] | Not Designated as Hedging Instrument [Member] | Mortgage-delivery commitments [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	[3]	16,919	3,454
Derivative Assets, before netting and collateral adjustments	[3]	67	47
Derivative Liabilities, before netting and collateral adjustments	[3]	$ (12)	$ (2)
[1]Amounts represent the effect of master-netting agreements intended to allow us to settle positive and negative positions with the same counterparty. Cash collateral posted, including accrued interest, was $1.6 billion and $1.8 billion at March 31, 2023, and December 31, 2022, respectively. The change in cash collateral posted is included in the net change in interest-bearing deposits in the statement of cash flows. Cash collateral received, including accrued interest, was $450 thousand at March 31, 2023.[2]These amounts represent the effect of master-netting agreements intended to allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing member and/or counterparty.[3]Mortgage-delivery commitments are classified as derivatives with changes in fair value recorded in other income.

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities Derivatives in Statement of Income and Impact on Interest Income/Expense (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Interest income on advances		$ 501,206	$ 33,993
Interest income on available-for-sale securities		167,680	44,733
Interest expense on consolidated obligations bonds		(378,094)	(43,900)
Advances [Member] | Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net changes in fair value before price alignment interest		(1,068)	1,353
Advances [Member] | Interest Rate Contract [Member] | Interest Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives		(68,586)	95,849
Hedged items		67,518	(94,496)
Price alignment interest	[1]	(1,754)	(22)
Net interest settlements on derivatives	[2],[3]	28,455	(9,926)
Net gains (losses) on qualifying fair-value hedging relationships		25,633	(8,595)
Amortization/accretion of discontinued hedging relationships		(512)	(263)
Net gains (losses) on derivatives and hedging activities recorded in net interest income		25,121	(8,858)
Available-for-sale Securities [Member] | Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net changes in fair value before price alignment interest		(6,104)	14,342
Available-for-sale Securities [Member] | Interest Rate Contract [Member] | Interest Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives		(233,315)	636,682
Hedged items		227,211	(622,340)
Price alignment interest	[1]	(10,058)	(51)
Net interest settlements on derivatives	[2],[3]	97,226	(37,391)
Net gains (losses) on qualifying fair-value hedging relationships		81,064	(23,100)
Amortization/accretion of discontinued hedging relationships		0	0
Net gains (losses) on derivatives and hedging activities recorded in net interest income		81,064	(23,100)
COs - bonds [Member] | Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net changes in fair value before price alignment interest		(150)	477
COs - bonds [Member] | Interest Rate Contract [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives		241,907	(569,233)
Hedged items		(242,057)	569,710
Price alignment interest	[1]	283	2
Net interest settlements on derivatives	[2],[3]	(140,810)	26,791
Net gains (losses) on qualifying fair-value hedging relationships		(140,677)	27,270
Amortization/accretion of discontinued hedging relationships		526	502
Net gains (losses) on derivatives and hedging activities recorded in net interest income		$ (140,151)	$ 27,772
[1]Relates to derivatives for which variation margin payments are characterized as daily settled contracts.[2]Excludes the interest income/expense of the respective hedged items recorded in net interest income.[3]Represents interest income/expense on derivatives in qualifying fair-value hedging relationships. Net interest settlements on derivatives that are not in qualifying fair-value hedging relationships are reported in other income.

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities Net Gains (Losses) on Cash Flow Hedging Relationships (Details) - Forward-start interest rate swaps [Member] - COs - bonds [Member] - Designated as Hedging Instrument [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest Expense [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Losses reclassified from accumulated other comprehensive loss into interest expense	$ (1,127)	$ (1,438)
Other Comprehensive Income (Loss) [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
(Losses) gains recognized in other comprehensive income	$ (11,755)	$ 22,058

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities Cumulative Basis Adjustments for Fair Value Hedges (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Advances [Member]
Derivatives, Fair Value [Line Items]
Amortized Cost of Hedged Asset/(Liability)	$ 5,681,843	[1]
Cumulative Basis Adjustments for Active Hedging Relationships Included in Amortized Cost	(131,431)
Cumulative Basis Adjustments for Discontinued Hedging Relationships Included in Amortized Cost	2,714
Cumulative Amount of Fair Value Hedging Basis Adjustments	(128,717)
Available-for-sale Securities [Member]
Derivatives, Fair Value [Line Items]
Amortized Cost of Hedged Asset/(Liability)	11,521,459	[1]
Cumulative Basis Adjustments for Active Hedging Relationships Included in Amortized Cost	(963,044)
Cumulative Basis Adjustments for Discontinued Hedging Relationships Included in Amortized Cost	0
Cumulative Amount of Fair Value Hedging Basis Adjustments	(963,044)
COs - bonds [Member]
Derivatives, Fair Value [Line Items]
Amortized Cost of Hedged Asset/(Liability)	23,503,416	[1]
Basis Adjustments for Active Hedging Relationships Included in Amortized Cost	(1,140,752)
Basis Adjustments for Discontinued Hedging Relationships Included in Amortized Cost	28,978
Cumulative Amount of Fair Value Hedging Basis Adjustments	$ (1,111,774)
[1]Includes only the amortized cost of hedged items in fair-value hedging relationships.

Impact of Variation Margin for

Impact of Variation Margin for Cleared Derivatives on the Statement of Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative [Line Items]
Financing activity - net (payments) proceeds on derivatives with a financing element	$ 11,724	$ (53,923)
Cleared derivatives [Member]
Derivative [Line Items]
Operating activity - net change in derivatives and hedging activities	(126,571)	700,104
Financing activity - net (payments) proceeds on derivatives with a financing element	(3,666)	65,795
Total variation margin (posted) received on cleared derivatives	$ (130,237)	$ 765,899

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities Fair Value of Derivative Instruments With or Without Legal Rights of Offset (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Offsetting Assets [Line Items]
Derivative Assets, Netting Adjustments and Cash Collateral	[1],[2]	$ 399,966	$ 382,890
Derivative liability, Netting Adjustments and Cash Collateral	[1],[2]	1,223,075	1,368,679
Derivative Assets, before netting and collateral adjustments		28,589	47,854
Derivative Liabilities, before netting and collateral adjustments		(1,227,684)	(1,394,319)
Derivative assets		428,555	430,744
Derivative liabilities		(4,609)	(25,640)
Unsettled CO bonds, at par [Member]
Offsetting Assets [Line Items]
Derivative Assets, before netting and collateral adjustments		27	50
Derivative assets		27	50
Uncleared derivatives [Member] | Interest-rate swaps [Member]
Offsetting Assets [Line Items]
Derivative Asset, total gross recognized amount		27,958	23,782
Derivative Liability, total gross recognized amount		(1,198,465)	(1,393,633)
Derivative Assets, Netting Adjustments and Cash Collateral	[3]	(24,142)	(23,782)
Derivative liability, Netting Adjustments and Cash Collateral	[3]	1,193,868	1,367,995
Derivative assets		3,816	0
Derivative liabilities		(4,597)	(25,638)
Cleared derivatives [Member] | Interest-rate swaps [Member]
Offsetting Assets [Line Items]
Derivative Asset, total gross recognized amount		537	23,975
Derivative Liability, total gross recognized amount		(29,207)	(684)
Derivative Assets, Netting Adjustments and Cash Collateral	[3]	424,108	406,672
Derivative liability, Netting Adjustments and Cash Collateral	[3]	29,207	684
Derivative assets		424,645	430,647
Derivative liabilities		0	0
Mortgage Receivable [Member] | Mortgage-delivery commitments [Member]
Offsetting Assets [Line Items]
Derivative Assets, before netting and collateral adjustments		67	47
Derivative Liabilities, before netting and collateral adjustments		(12)	(2)
Derivative assets		67	47
Derivative liabilities		$ (12)	$ (2)
[1]Amounts represent the effect of master-netting agreements intended to allow us to settle positive and negative positions with the same counterparty. Cash collateral posted, including accrued interest, was $1.6 billion and $1.8 billion at March 31, 2023, and December 31, 2022, respectively. The change in cash collateral posted is included in the net change in interest-bearing deposits in the statement of cash flows. Cash collateral received, including accrued interest, was $450 thousand at March 31, 2023.[2]These amounts represent the effect of master-netting agreements intended to allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing member and/or counterparty.[3]Includes gross amounts of netting adjustments and cash collateral.

Derivatives and Hedging Activ_8

Derivatives and Hedging Activities Narratives (Details) - USD ($)		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Derivative [Line Items]
Reclassifications from accumulated other comprehensive loss into earnings as a result of the discontinuance of cash-flow hedges		$ 0	$ 0
Maximum length of time which we are hedging our exposure to the variability in future cash flows for forecasted transactions		8 years
Deferred net losses on derivatives accumulated in other comprehensive loss related to cash flow hedges expected to be reclassified to earnings during the next 12 months		$ 4,300,000
Aggregate fair value of all uncleared derivatives in a net-liability position (before cash collateral and related accrued interest)		749,400,000
Post-haircut value of collateral already posted		753,200,000
Rating Downgrade from AAPlus to AA or AAMinus [Member]
Derivative [Line Items]
Incremental collateral	[1]	0
Rating Downgrade From AAMinus to APlus, A or AMinus [Member]
Derivative [Line Items]
Incremental collateral	[1]	0
Rating Downgrade From AMinus to below AMinus [Member]
Derivative [Line Items]
Incremental collateral	[1]	$ 37,181,000
[1]Ratings are expressed in this table according to S&P's conventions but include the equivalent of such rating by Moody's. If there is a split rating, the lower rating is used.

Deposits Narratives (Details)

Deposits Narratives (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Deposits [Abstract]
Interest-bearing deposits demand and overnight	$ 852,817	$ 632,635
Interest-bearing deposits other	0	1,867
Non-interest bearing deposits other	19,539	20,985
Total deposits	$ 872,356	$ 655,487

CO Bonds Outstanding by Contrac

CO Bonds Outstanding by Contractual Maturity (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Schedule of Short-term and Long-term Debt [Line Items]
Due in one year or less, weighted average rate	[1]	4.37%	3.15%
Due after one year through two years, weighted average rate	[1]	2.53%	1.85%
Due after two years through three years, weighted average rate	[1]	1.92%	1.70%
Due after three years through four years, weighted average rate	[1]	1.39%	1.10%
Due after four years through five years, weighted average rate	[1]	3.23%	2.24%
Thereafter, weighted average rate	[1]	2.31%	2.09%
Total par value		$ 42,756,345	$ 32,898,855
Hedging adjustments		(1,111,774)	(1,353,181)
Total		41,669,836	31,565,543
COs - bonds [Member]
Schedule of Short-term and Long-term Debt [Line Items]
Due in one year or less		17,946,400	10,616,385
Due after one year through two years		7,458,500	5,321,650
Due after two years through three years		5,808,340	4,993,600
Due after three years through four years		5,455,450	5,951,355
Due after four years through five years		2,342,400	2,099,000
Thereafter		3,745,255	3,916,865
Total par value		$ 42,756,345	$ 32,898,855
Total par value, weighted average rate	[1]	3.09%	2.17%
Premiums		$ 35,114	$ 27,902
Discounts		$ (9,849)	$ (8,033)
[1]The CO bonds' weighted-average rate excludes concession fees.

CO Bonds Outstanding by Call Fe

CO Bonds Outstanding by Call Feature (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total par value	$ 42,756,345	$ 32,898,855
Noncallable and nonputable
Debt Instrument [Line Items]
Total par value	22,109,655	15,039,805
Callable
Debt Instrument [Line Items]
Total par value	$ 20,646,690	$ 17,859,050

CO Bonds Outstanding by Contr_2

CO Bonds Outstanding by Contractual Maturity or Next Call Date (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total par value	$ 42,756,345	$ 32,898,855
Earlier Of Contractual Maturity Or Next Call Date [Member]
Debt Instrument [Line Items]
Due in one year or less	34,583,900	26,319,885
Due after one year through two years	2,710,500	1,843,150
Due after two years through three years	2,229,340	1,952,600
Due after three years through four years	1,254,950	1,370,355
Due after four years through five years	849,400	438,000
Thereafter	1,128,255	974,865
Total par value	$ 42,756,345	$ 32,898,855

CO Bonds by Interest Rate-Payme

CO Bonds by Interest Rate-Payment Type (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total par value		$ 42,756,345	$ 32,898,855
Fixed-rate [Member]
Debt Instrument [Line Items]
Total par value		26,760,955	22,667,605
Simple variable-rate [Member]
Debt Instrument [Line Items]
Total par value		9,865,000	4,200,000
Step-up [Member]
Debt Instrument [Line Items]
Total par value	[1]	$ 6,130,390	$ 6,031,250
[1]Step-up bonds pay interest at increasing fixed rates for specified intervals over the life of the CO bond and can be called at our option on the step-up dates.

CO Discount Notes Outstanding (

CO Discount Notes Outstanding (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Federal Home Loan Bank, Consolidated Obligations, Discount Notes		$ 33,448,155	$ 26,975,260
Par value		$ 33,671,951	$ 27,109,244
Weighted Average Rate	[1]	4.79%	4.22%
[1]CO discount notes' weighted-average rate represents a yield to maturity excluding concession fees.

Affordable Housing Program Narr

Affordable Housing Program Narratives (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Affordable Housing Program [Roll Forward]
Balance at beginning of year	$ 76,622	$ 70,503	$ 70,503
AHP expense for the period	6,375	3,100	20,521
AHP voluntary contribution	0	8,525	5,479
AHP direct grant disbursements	(2,450)	$ (3,243)	(17,683)
AHP subsidy for AHP advance disbursements	(1,566)		(3,155)
Return of previously disbursed grants and subsidies	0		957
Balance at end of period	$ 78,981		$ 76,622

Regulatory Capital Requirements

Regulatory Capital Requirements (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Banking Regulation, Total Capital [Abstract]
Capital-to-asset ratio, Required	4%	4%
Leverage capital-to-assets ratio, Required	5%	5%
Multiplier for Determining Permanent Capital in Leverage Capital Calculation	1.5
Class B capital stock	$ 2,404,394	$ 2,031,178
Mandatorily redeemable capital stock	10,290	10,290
Retained earnings	1,716,752	1,690,568
Total permanent capital	4,131,436	3,732,036
Credit-risk capital	138,477	130,875
Market-risk capital	282,391	225,813
Operations-risk capital	126,260	107,006
Total risk-based capital requirement	547,128	463,694
Permanent capital in excess of risk-based capital requirement	3,584,308	3,268,342
Regulatory capital, Required	3,206,546	2,515,902
Leverage capital, Required	4,008,182	3,144,877
Risk-based capital, Actual	4,131,436	3,732,036
Regulatory capital, Actual	$ 4,131,436	$ 3,732,036
Capital-to-asset ratio, Actual	5.20%	5.90%
Leverage capital, Actual	$ 6,197,154	$ 5,598,054
Leverage capital-to-assets ratio, Actual	7.70%	8.90%

Capital Narratives (Details)

Capital Narratives (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Contribution requirement - restricted retained earnings	$ 669,000
Restricted retained earnings	$ 411,133	$ 399,695
Certain member assets eligible to secure advances [Member]
Class B stock purchase requirement	0.05%
Overnight advances [Member]
Class B stock purchase requirement	3%
All other advances greater than overnight [Member]
Class B stock purchase requirement	4%
Outstanding letters of credit [Member]
Class B stock purchase requirement	0.25%
Unpaid principal balance of mortgage purchased through MPF program
Class B stock purchase requirement	4.50%
Common Class B [Member]
Common Stock, Class B, putable par value per share	$ 100	$ 100
Minimum [Member]
Class B Stock Purchase Requirement Amount	$ 10
Maximum [Member]
Class B Stock Purchase Requirement Amount	$ 5,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss) Before Tax1 [Roll Forward]
Beginning of period		$ 3,415,321	$ 2,531,011
Total other comprehensive income (loss)		26	(117,767)
Period end		3,814,747	2,411,787
Net Unrealized Loss Relating to Hedging Activities
Accumulated Other Comprehensive Income (Loss) Before Tax1 [Roll Forward]
Beginning of period		42,482	(26,291)
Net unrealized gains (losses)		(11,755)	22,058
Reclassification of realized net loss included in net income	[1]		0
Amortization - hedging activities	[2]	1,127	1,438
Amortization - pension and postretirement benefits	[3]		0
Total other comprehensive income (loss)		(10,628)	23,496
Period end		31,854	(2,795)
Pension and Postretirement Benefits [Member]
Accumulated Other Comprehensive Income (Loss) Before Tax1 [Roll Forward]
Beginning of period		1,374	(2,755)
Net unrealized gains (losses)		0	0
Reclassification of realized net loss included in net income	[1]		0
Amortization - hedging activities	[2]	0	0
Amortization - pension and postretirement benefits	[3]		23
Total other comprehensive income (loss)		0	23
Period end		1,374	(2,732)
Total [Member]
Accumulated Other Comprehensive Income (Loss) Before Tax1 [Roll Forward]
Beginning of period		(306,425)	28,967
Net unrealized gains (losses)		(1,101)	(119,230)
Reclassification of realized net loss included in net income	[1]		2
Amortization - hedging activities	[2]	1,127	1,438
Amortization - pension and postretirement benefits	[3]		23
Total other comprehensive income (loss)		26	(117,767)
Period end		(306,399)	(88,800)
Available-for-sale Securities [Member] | Net Unrealized Gain (Loss) on Available-for-Sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) Before Tax1 [Roll Forward]
Beginning of period		(350,281)	58,013
Net unrealized gains (losses)		10,654	(141,288)
Reclassification of realized net loss included in net income	[1]		2
Amortization - hedging activities	[2]	0	0
Amortization - pension and postretirement benefits	[3]		0
Total other comprehensive income (loss)		10,654	(141,286)
Period end		$ (339,627)	$ (83,273)
[1]Recorded in other, net in the statement of operations.[2]Recorded in CO bond interest expense.[3]Recorded in other expenses in the statement of operations

Fair Values Carrying Value and

Fair Values Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks		$ 6,594	$ 7,593
Available-for-sale securities Fair Value		14,106,155	13,626,916
Held-to-Maturity Securities Carrying Value	[1]	93,691	99,068
Held-to-maturity fair value		93,420	98,591
Loans to other FHLBanks		1,000,000	0
Accrued interest receivable		157,549	134,268
Derivative assets		428,555	430,744
Derivative Assets, Netting Adjustments and Cash Collateral	[2],[3]	399,966	382,890
Mandatorily redeemable capital stock		(10,290)	(10,290)
Accrued interest payable		(199,753)	(130,515)
Derivative liabilities		(4,609)	(25,640)
Derivative liability, Netting Adjustments and Cash Collateral	[2],[3]	1,223,075	1,368,679
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks		6,594	7,593
Interest-bearing deposits		1,248,687	1,485,290
Securities purchased under agreements to resell		0
Federal funds sold		0	0
Trading securities	[4]	0	0
Available-for-sale securities Fair Value	[4]	0	0
Held-to-maturity fair value		0	0
Advances		0	0
Mortgage loans, net		0	0
Loans to other FHLBanks		0
Accrued interest receivable		0	0
Derivative assets	[4]	0	0
Other assets	[4]	12,041	11,950
Deposits		0	0
Mandatorily redeemable capital stock		(10,290)	(10,290)
Accrued interest payable		0	0
Derivative liabilities	[4]	0	0
Level 1 [Member] | Commitments to extend credit for advances [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other		0	0
Level 1 [Member] | Standby Letters of Credit [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other		0	0
Level 1 [Member] | COs - Discount notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
CO Discount notes		0	0
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks		0	0
Interest-bearing deposits		0	0
Securities purchased under agreements to resell		8,399,975
Federal funds sold		2,300,998	2,705,992
Trading securities	[4]	1,586	1,507
Available-for-sale securities Fair Value	[4]	14,073,050	13,594,142
Held-to-maturity fair value		93,420	98,591
Advances		49,429,312	41,378,357
Mortgage loans, net		2,466,556	2,462,257
Loans to other FHLBanks		999,999
Accrued interest receivable		157,549	134,268
Derivative assets	[4]	28,589	47,854
Other assets	[4]	14,245	13,554
Deposits		(872,273)	(655,425)
Mandatorily redeemable capital stock		0	0
Accrued interest payable		(199,753)	(130,515)
Derivative liabilities	[4]	(1,227,684)	(1,394,319)
Level 2 [Member] | Commitments to extend credit for advances [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other		(8,034)	(13,327)
Level 2 [Member] | Standby Letters of Credit [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other		(1,293)	(1,168)
Level 2 [Member] | COs - Discount notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
CO Discount notes		(33,447,343)	(26,972,926)
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks		0	0
Interest-bearing deposits		0	0
Securities purchased under agreements to resell		0
Federal funds sold		0	0
Trading securities	[4]	0	0
Available-for-sale securities Fair Value	[4]	33,105	32,774
Held-to-maturity fair value		0	0
Advances		0	0
Mortgage loans, net		17,449	21,014
Loans to other FHLBanks		0
Accrued interest receivable		0	0
Derivative assets	[4]	0	0
Other assets	[4]	0	0
Deposits		0	0
Mandatorily redeemable capital stock		0	0
Accrued interest payable		0	0
Derivative liabilities	[4]	0	0
Level 3 [Member] | Commitments to extend credit for advances [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other		0	0
Level 3 [Member] | Standby Letters of Credit [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other		0	0
Level 3 [Member] | COs - Discount notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
CO Discount notes		0	0
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks		6,594	7,593
Interest-bearing deposits		1,248,687	1,485,290
Securities purchased under agreements to resell		8,400,000
Federal funds sold		2,301,000	2,706,000
Trading securities	[4]	1,586	1,507
Available-for-sale securities Fair Value	[4]	14,106,155	13,626,916
Held-to-Maturity Securities Carrying Value		93,691	99,068
Advances		49,622,282	41,599,581
Mortgage loans, net		2,724,612	2,758,429
Loans to other FHLBanks		1,000,000
Accrued interest receivable		157,549	134,268
Derivative assets	[4]	428,555	430,744
Other assets	[4]	26,286	25,504
Deposits		(872,356)	(655,487)
Mandatorily redeemable capital stock		(10,290)	(10,290)
Accrued interest payable		(199,753)	(130,515)
Derivative liabilities	[4]	(4,609)	(25,640)
Carrying Value [Member] | Commitments to extend credit for advances [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other		0	0
Carrying Value [Member] | Standby Letters of Credit [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other		(1,293)	(1,168)
Carrying Value [Member] | COs - Discount notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
CO Discount notes		(33,448,155)	(26,975,260)
Total Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and due from banks		6,594	7,593
Interest-bearing deposits		1,248,687	1,485,290
Securities purchased under agreements to resell		8,399,975
Federal funds sold		2,300,998	2,705,992
Trading securities	[4]	1,586	1,507
Available-for-sale securities Fair Value	[4]	14,106,155	13,626,916
Held-to-maturity fair value		93,420	98,591
Advances		49,429,312	41,378,357
Mortgage loans, net		2,484,005	2,483,271
Loans to other FHLBanks		999,999
Accrued interest receivable		157,549	134,268
Derivative assets	[4]	428,555	430,744
Other assets	[4]	26,286	25,504
Deposits		(872,273)	(655,425)
Mandatorily redeemable capital stock		(10,290)	(10,290)
Accrued interest payable		(199,753)	(130,515)
Derivative liabilities	[4]	(4,609)	(25,640)
Total Fair Value [Member] | Commitments to extend credit for advances [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other		(8,034)	(13,327)
Total Fair Value [Member] | Standby Letters of Credit [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other		(1,293)	(1,168)
Total Fair Value [Member] | COs - Discount notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
CO Discount notes		(33,447,343)	(26,972,926)
COs - bonds [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
CO Bonds		0	0
COs - bonds [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
CO Bonds		(41,201,760)	(30,981,391)
COs - bonds [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
CO Bonds		0	0
COs - bonds [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
CO Bonds		(41,669,836)	(31,565,543)
COs - bonds [Member] | Total Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
CO Bonds		$ (41,201,760)	$ (30,981,391)
[1]Fair values of held-to-maturity securities were $93,420 and $98,591 at March 31, 2023, and December 31, 2022, respectively.[2]Amounts represent the effect of master-netting agreements intended to allow us to settle positive and negative positions with the same counterparty. Cash collateral posted, including accrued interest, was $1.6 billion and $1.8 billion at March 31, 2023, and December 31, 2022, respectively. The change in cash collateral posted is included in the net change in interest-bearing deposits in the statement of cash flows. Cash collateral received, including accrued interest, was $450 thousand at March 31, 2023.[3]These amounts represent the effect of master-netting agreements intended to allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing member and/or counterparty.[4]Carried at fair value and measured on a recurring basis.

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		$ 14,106,155	$ 13,626,916
Derivative assets		428,555	430,744
Derivative Assets, Netting Adjustments and Cash Collateral	[1],[2]	399,966	382,890
Derivative liabilities		(4,609)	(25,640)
Derivative liability, Netting Adjustments and Cash Collateral	[1],[2]	1,223,075	1,368,679
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	[3]	0	0
Available-for-sale securities Fair Value	[3]	0	0
Derivative assets	[3]	0	0
Other assets	[3]	12,041	11,950
Mortgage loans held for portfolio		0	0
Derivative liabilities	[3]	0	0
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	[3]	1,586	1,507
Available-for-sale securities Fair Value	[3]	14,073,050	13,594,142
Derivative assets	[3]	28,589	47,854
Other assets	[3]	14,245	13,554
Mortgage loans held for portfolio		2,466,556	2,462,257
Derivative liabilities	[3]	(1,227,684)	(1,394,319)
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	[3]	0	0
Available-for-sale securities Fair Value	[3]	33,105	32,774
Derivative assets	[3]	0	0
Other assets	[3]	0	0
Mortgage loans held for portfolio		17,449	21,014
Derivative liabilities	[3]	0	0
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, Netting Adjustments and Cash Collateral	[4]	399,966	382,890
Derivative liability, Netting Adjustments and Cash Collateral	[4]	1,223,075	1,368,679
Recurring [Member] | Interest-rate swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, Netting Adjustments and Cash Collateral	[4]	399,966	382,890
Derivative liability, Netting Adjustments and Cash Collateral	[4]	1,223,075	1,368,679
Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0	0
Available-for-sale securities Fair Value		0	0
Derivative assets		0	0
Other assets		12,041	11,950
Total assets carried at fair value		12,041	11,950
Total liabilities carried at fair value		0	0
Recurring [Member] | Level 1 [Member] | CO Bonds firm commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0	0
Recurring [Member] | Level 1 [Member] | Interest-rate swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0	0
Derivative liabilities		0	0
Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		1,586	1,507
Available-for-sale securities Fair Value		14,073,050	13,594,142
Derivative assets		28,589	47,854
Other assets		14,245	13,554
Total assets carried at fair value		14,117,470	13,657,057
Total liabilities carried at fair value		(1,227,684)	(1,394,319)
Recurring [Member] | Level 2 [Member] | CO Bonds firm commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		27	50
Recurring [Member] | Level 2 [Member] | Interest-rate swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		28,495	47,757
Derivative liabilities		(1,227,672)	(1,394,317)
Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0	0
Available-for-sale securities Fair Value		33,105	32,774
Derivative assets		0	0
Other assets		0	0
Total assets carried at fair value		33,105	32,774
Total liabilities carried at fair value		0	0
Recurring [Member] | Level 3 [Member] | CO Bonds firm commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0	0
Recurring [Member] | Level 3 [Member] | Interest-rate swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0	0
Derivative liabilities		0	0
Nonrecurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets carried at fair value	[5]		0
Mortgage loans held for portfolio	[5]		0
Nonrecurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets carried at fair value	[5]		0
Mortgage loans held for portfolio	[5]		0
Nonrecurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets carried at fair value	[5]		90
Mortgage loans held for portfolio	[5]		90
Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	[3]	1,586	1,507
Available-for-sale securities Fair Value	[3]	14,106,155	13,626,916
Derivative assets	[3]	428,555	430,744
Other assets	[3]	26,286	25,504
Mortgage loans held for portfolio		2,484,005	2,483,271
Derivative liabilities	[3]	(4,609)	(25,640)
Estimate of Fair Value Measurement [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		1,586	1,507
Available-for-sale securities Fair Value		14,106,155	13,626,916
Derivative assets		428,555	430,744
Other assets		26,286	25,504
Total assets carried at fair value		14,562,582	14,084,671
Total liabilities carried at fair value		(4,609)	(25,640)
Estimate of Fair Value Measurement [Member] | Recurring [Member] | CO Bonds firm commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		27	50
Estimate of Fair Value Measurement [Member] | Recurring [Member] | Interest-rate swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		428,461	430,647
Derivative liabilities		(4,597)	(25,638)
Estimate of Fair Value Measurement [Member] | Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets carried at fair value	[5]		90
Mortgage loans held for portfolio	[5]		90
Corporate bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		1,586	1,507
Corporate bonds [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0	0
Corporate bonds [Member] | Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		1,586	1,507
Corporate bonds [Member] | Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0	0
Corporate bonds [Member] | Estimate of Fair Value Measurement [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		1,586	1,507
US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		5,835,902	5,723,562
US Treasury Securities [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
US Treasury Securities [Member] | Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		5,835,902	5,723,562
US Treasury Securities [Member] | Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
US Treasury Securities [Member] | Estimate of Fair Value Measurement [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		5,835,902	5,723,562
U.S. government guaranteed - single-family MBS [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		15,926	16,148
U.S. government guaranteed - single-family MBS [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
U.S. government guaranteed - single-family MBS [Member] | Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		15,926	16,148
U.S. government guaranteed - single-family MBS [Member] | Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
U.S. government guaranteed - single-family MBS [Member] | Estimate of Fair Value Measurement [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		15,926	16,148
U.S. government guaranteed-multifamily MBS [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		478,844	476,730
U.S. government guaranteed-multifamily MBS [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
U.S. government guaranteed-multifamily MBS [Member] | Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		478,844	476,730
U.S. government guaranteed-multifamily MBS [Member] | Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
U.S. government guaranteed-multifamily MBS [Member] | Estimate of Fair Value Measurement [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		478,844	476,730
Mortgage Receivable [Member] | Recurring [Member] | Level 1 [Member] | Mortgage-delivery commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0	0
Derivative liabilities		0	0
Mortgage Receivable [Member] | Recurring [Member] | Level 2 [Member] | Mortgage-delivery commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		67	47
Derivative liabilities		(12)	(2)
Mortgage Receivable [Member] | Recurring [Member] | Level 3 [Member] | Mortgage-delivery commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0	0
Derivative liabilities		0	0
Mortgage Receivable [Member] | Estimate of Fair Value Measurement [Member] | Recurring [Member] | Mortgage-delivery commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		67	47
Derivative liabilities		(12)	(2)
HFA securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		33,105	32,774
HFA securities [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
HFA securities [Member] | Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
HFA securities [Member] | Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		33,105	32,774
HFA securities [Member] | Estimate of Fair Value Measurement [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		33,105	32,774
Supranational institutions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		354,044	350,352
Supranational institutions [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
Supranational institutions [Member] | Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		354,044	350,352
Supranational institutions [Member] | Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
Supranational institutions [Member] | Estimate of Fair Value Measurement [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		354,044	350,352
U.S. government-owned corporations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		234,659	227,200
U.S. government-owned corporations [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
U.S. government-owned corporations [Member] | Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		234,659	227,200
U.S. government-owned corporations [Member] | Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
U.S. government-owned corporations [Member] | Estimate of Fair Value Measurement [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		234,659	227,200
GSE [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		99,892	97,666
GSE [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
GSE [Member] | Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		99,892	97,666
GSE [Member] | Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
GSE [Member] | Estimate of Fair Value Measurement [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		99,892	97,666
Single Family [Member] | Government Sponsored Enterprises [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		1,026,358	765,526
Single Family [Member] | Government Sponsored Enterprises [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
Single Family [Member] | Government Sponsored Enterprises [Member] | Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		1,026,358	765,526
Single Family [Member] | Government Sponsored Enterprises [Member] | Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
Single Family [Member] | Government Sponsored Enterprises [Member] | Estimate of Fair Value Measurement [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		1,026,358	765,526
Multifamily [Member] | Government Sponsored Enterprises [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		6,027,425	5,936,958
Multifamily [Member] | Government Sponsored Enterprises [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
Multifamily [Member] | Government Sponsored Enterprises [Member] | Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		6,027,425	5,936,958
Multifamily [Member] | Government Sponsored Enterprises [Member] | Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		0	0
Multifamily [Member] | Government Sponsored Enterprises [Member] | Estimate of Fair Value Measurement [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities Fair Value		$ 6,027,425	$ 5,936,958
[1]Amounts represent the effect of master-netting agreements intended to allow us to settle positive and negative positions with the same counterparty. Cash collateral posted, including accrued interest, was $1.6 billion and $1.8 billion at March 31, 2023, and December 31, 2022, respectively. The change in cash collateral posted is included in the net change in interest-bearing deposits in the statement of cash flows. Cash collateral received, including accrued interest, was $450 thousand at March 31, 2023.[2]These amounts represent the effect of master-netting agreements intended to allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing member and/or counterparty.[3]Carried at fair value and measured on a recurring basis.[4]These amounts represent the effect of master-netting agreements intended to allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing member and/or counterparty.[5]We measure certain mortgage loans held for portfolio at fair value on a nonrecurring basis, that is, they are not measured at fair value on an ongoing basis but are subject to fair-value adjustments only in certain circumstances. The fair values presented are as of the date the fair value adjustment was recorded.

Estimated Fair Value Level 3 Re

Estimated Fair Value Level 3 Reconciliation - Roll Forward (Details) - HFA securities [Member] - Level 3 [Member] - Recurring [Member] - Available-for-sale Securities [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 32,774	$ 62,265
Total gains (losses) included in other comprehensive income [Abstract]
Net unrealized gains (losses)	331	(821)
Balance at end of period	33,105	61,444
Total amount of unrealized gains (losses) for the period included in other comprehensive income relating to securities held at period end	$ 331	$ (821)

Off-Balance Sheet Commitments (

Off-Balance Sheet Commitments (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Value of the guarantees related to standby letters of credit		$ 64,917	$ 42,871
Maximum term of commitments to invest in mortgage loans		60 days
Other FHLBanks [Member]
Loss Contingencies [Line Items]
Par value of other FHLBanks' outstanding COs for which we are jointly and severally liable		$ 1,400,000,000	1,100,000,000
Maximum [Member]
Loss Contingencies [Line Items]
Standby letters of credit, current terms		10 years
Standby letters of credit [Member]
Loss Contingencies [Line Items]
Off-balance-sheet Commitments Expiring Within One Year	[1],[2]	$ 9,463,137	10,148,761
Off-balance-sheet Commitments Expiring After One Year	[1],[2]	165,535	77,521
Total Off-balance Sheet Commitments	[1],[2]	9,628,672	10,226,282
Value of the guarantees related to standby letters of credit		1,300	1,200
Commitments of unused lines of credit - advances [Member]
Loss Contingencies [Line Items]
Off-balance-sheet Commitments Expiring Within One Year	[2],[3]	1,146,950	1,123,269
Off-balance-sheet Commitments Expiring After One Year	[2],[3]	0	0
Total Off-balance Sheet Commitments	[2],[3]	$ 1,146,950	1,123,269
Commitments of unused lines of credit - advances [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Period for commitments for unused line-of-credit advances		12 months
Commitments to make additional advances [Member]
Loss Contingencies [Line Items]
Off-balance-sheet Commitments Expiring Within One Year	[2]	$ 209,455	57,024
Off-balance-sheet Commitments Expiring After One Year	[2]	21,442	29,010
Total Off-balance Sheet Commitments	[2]	230,897	86,034
Unsettled CO bonds, at par [Member]
Loss Contingencies [Line Items]
Off-balance-sheet Commitments Expiring Within One Year	[2]	242,000	172,140
Off-balance-sheet Commitments Expiring After One Year	[2]	0	0
Total Off-balance Sheet Commitments	[2]	242,000	172,140
Unsettled CO discount notes, at par [Member]
Loss Contingencies [Line Items]
Off-balance-sheet Commitments Expiring Within One Year	[2]	0	32,480
Off-balance-sheet Commitments Expiring After One Year	[2]	0	0
Total Off-balance Sheet Commitments	[2]	0	32,480
Standby Letters of Credit Issuance Commitments [Member]
Loss Contingencies [Line Items]
Off-balance-sheet Commitments Expiring Within One Year		750	22,000
Off-balance-sheet Commitments Expiring After One Year		42,600
Mortgage Receivable [Member] | Commitments to invest in mortgage loans [Member]
Loss Contingencies [Line Items]
Off-balance-sheet Commitments Expiring Within One Year	[2]	16,919	3,454
Off-balance-sheet Commitments Expiring After One Year	[2]	0	0
Total Off-balance Sheet Commitments	[2]	$ 16,919	$ 3,454
[1]The amount of standby letters of credit outstanding excludes commitments to issue standby letters of credit that expire within one year. At March 31, 2023, and December 31, 2022, these amounts totaled $750 thousand and $22.0 million, respectively. Also, excluded are commitments to issue standby letters of credit that expire after one year totaling $42.6 million at March 31, 2023.[2]We have determined that it is unnecessary to record any liability for credit losses on these agreements.[3]Commitments for unused line-of-credit advances are generally for periods of up to 12 months. Since many of these commitments are not expected to be drawn upon, the total commitment amount does not necessarily indicate future liquidity requirements.

Transactions with Shareholder_2

Transactions with Shareholders (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Transactions with Shareholders [Line Items]
Capital Stock Outstanding	$ 2,404,394	$ 2,031,178
Par Value of Advances	49,784,890	41,830,776
Total Accrued Interest Receivable	157,549	134,268
Citizens Bank N.A.
Transactions with Shareholders [Line Items]
Capital Stock Outstanding	$ 533,583	$ 363,769
Percent of Total Capital Stock	22.10%	17.80%
Par Value of Advances	$ 11,779,001	$ 8,519,007
Percentage of Total Par Value of Advances	23.70%	20.40%
Total Accrued Interest Receivable	$ 15,867	$ 5,662
Percent of Total Accrued Interest Receivable on Advances	15.40%	7.80%
Webster Bank N.A.
Transactions with Shareholders [Line Items]
Capital Stock Outstanding	$ 359,918	$ 221,408
Percent of Total Capital Stock	14.90%	10.80%
Par Value of Advances	$ 8,560,461	$ 5,460,552
Percentage of Total Par Value of Advances	17.20%	13.10%
Total Accrued Interest Receivable	$ 23,895	$ 9,942
Percent of Total Accrued Interest Receivable on Advances	23.20%	13.60%
Directors' Financial Institutions [Member]
Transactions with Shareholders [Line Items]
Capital Stock Outstanding	$ 546,773	$ 374,123
Percent of Total Capital Stock	22.60%	18.30%
Par Value of Advances	$ 12,022,849	$ 8,683,521
Percentage of Total Par Value of Advances	24.10%	20.80%
Total Accrued Interest Receivable	$ 16,089	$ 5,803
Percent of Total Accrued Interest Receivable on Advances	15.60%	8%
Minimum [Member]
Transactions with Shareholders [Line Items]
Definition of shareholder concentration, minimum percent	10%

Subsequent Events (Details)

Subsequent Events (Details) - Common Class B [Member] - Subsequent Event [Member] - USD ($) $ in Millions	May 02, 2023	Apr. 21, 2023
Subsequent Event [Line Items]
Annualized rate of cash dividend		7.55%
Dividend, including dividends on mandatorily redeemable capital stock	$ 40